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Income Taxes (Tables)

12 Months Ended

Mar. 31, 2014

Income Taxes [Abstract]

Schedule of income tax expense (benefit)

The income tax expense from the Company’s continuing operations for the years ended March 31 is as follows:

		Years Ended March 31,
		2014				2013				2012
Current tax expense
Federal		$	4,564,000			$	31,226,000			$	5,081,000
State			614,000				3,368,000				319,000
Foreign			599,000				336,000				228,000
Total current tax expense			5,777,000				34,930,000				5,628,000
Deferred tax expense (benefit)
Federal			2,477,000				(25,074,000	)			1,224,000
State			(162,000	)			(2,706,000	)			542,000
Foreign			(759,000	)			282,000				(9,000	)
Total deferred tax (benefit) expense			1,556,000				(27,498,000	)			1,757,000
Total income tax expense		$	7,333,000			$	7,432,000			$	7,385,000

Schedule of deferred income taxes

Deferred income taxes from the Company’s continuing operations consist of the following at March 31:

		2014				2013
Assets
Accounts receivable valuation		$	3,926,000			$	4,713,000
Allowance for customer incentives			1,343,000				1,222,000
Inventory obsolescence reserve			1,070,000				966,000
Stock options			1,426,000				1,488,000
Cancellation of indedtedness			-				20,510,000
Intangibles, net			796,000				704,000
Deferred core revenue			2,885,000				2,259,000
Claims payable			88,000				175,000
Accrued compensation			1,787,000				1,786,000
Net operating losses			9,117,000				190,000
Other			2,217,000				2,320,000
Total deferred tax assets		$	24,655,000			$	36,333,000
Liabilities
Prepaid expenses		$	(331,000	)		$	(642,000	)
Property and equipment, net			(298,000	)			(391,000	)
Estimate for returns			(916,000	)			(219,000	)
Other			(1,866,000	)			(2,281,000	)
Total deferred tax liabilities		$	(3,411,000	)		$	(3,533,000	)
Net deferred tax assets		$	21,244,000			$	32,800,000
Net current deferred income tax asset		$	18,630,000			$	30,851,000
Net long-term deferred income tax assets			2,614,000				1,949,000
Total		$	21,244,000			$	32,800,000

Schedule of difference between income tax expense at the federal statutory rate and effective tax rate

The difference between the income tax expense at the federal statutory rate and the Company’s effective tax rate from the Company’s continuing operations is as follows:

		Years Ended March 31,
		2014				2013				2012
Statutory federal income tax rate			34	%			34	%			34	%
State income tax rate, net of federal benefit			2	%			2	%			3	%
Change in deferred tax rate			(2	)%			-	%			(1	)%
Foreign income taxed at different rates			(7	)%			-	%			(3	)%
Warrants			26	%			-	%			-	%
Non-deductible executive compensation			2	%			-	%			-	%
Uncertain Tax Positions			(2	)%			-	%			-	%
Other income tax			-	%			(2	)%			1	%
			53	%			34	%			34	%

Schedule of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits from the Company’s continuing operations is as follows at March 31:

		2014				2013				2012
Balance at beginning of period		$	827,000			$	634,000			$	576,000
Additions based on tax positions related to the current year			71,000				227,000				116,000
Additions for tax positions of prior year			-				-				18,000
Reductions for tax positions of prior year			(358,000	)			(34,000	)			(76,000	)
Settlements			-				-				-
Balance at end of period		$	540,000			$	827,000			$	634,000

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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