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Unaudited Quarterly Financial Data (Tables) | 12 Months Ended
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Mar. 31, 2015
Unaudited Quarterly Financial Data [Abstract] |
Schedule of quarterly financial information | The following table summarizes selected quarterly financial data for the fiscal year ended March 31, 2015.
|  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
Net sales |  | $ | 62,975,000 |  |  | $ | 70,840,000 |  |  | $ | 83,992,000 |  |  | $ | 83,904,000 |
Cost of goods sold |  |  | 45,159,000 |  |  |  | 52,420,000 |  |  |  | 59,564,000 |  |  |  | 62,995,000 |
Gross profit |  |  | 17,816,000 |  |  |  | 18,420,000 |  |  |  | 24,428,000 |  |  |  | 20,909,000 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General and administrative |  |  | 5,392,000 |  |  |  | 9,812,000 |  |  |  | 12,628,000 |  |  |  | 10,031,000 |
Sales and marketing |  |  | 1,826,000 |  |  |  | 1,837,000 |  |  |  | 2,281,000 |  |  |  | 1,907,000 |
Research and development |  |  | 522,000 |  |  |  | 539,000 |  |  |  | 601,000 |  |  |  | 611,000 |
Total operating expenses |  |  | 7,740,000 |  |  |  | 12,188,000 |  |  |  | 15,510,000 |  |  |  | 12,549,000 |
Operating income |  |  | 10,076,000 |  |  |  | 6,232,000 |  |  |  | 8,918,000 |  |  |  | 8,360,000 |
Other expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 3,413,000 |  |  |  | 3,339,000 |  |  |  | 3,165,000 |  |  |  | 3,148,000 |
Income before income tax expense |  |  | 6,663,000 |  |  |  | 2,893,000 |  |  |  | 5,753,000 |  |  |  | 5,212,000 |
Income tax expense |  |  | 2,714,000 |  |  |  | 1,418,000 |  |  |  | 2,826,000 |  |  |  | 2,110,000 |
Net income |  | $ | 3,949,000 |  |  | $ | 1,475,000 |  |  | $ | 2,927,000 |  |  | $ | 3,102,000 |
Basic net income per share |  | $ | 0.26 |  |  | $ | 0.09 |  |  | $ | 0.16 |  |  | $ | 0.17 |
Diluted net income per share |  | $ | 0.25 |  |  | $ | 0.09 |  |  | $ | 0.16 |  |  | $ | 0.16 |
The following summarizes selected quarterly financial data for the fiscal year ended March 31, 2014:
|  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
Net sales |  | $ | 50,245,000 |  |  | $ | 66,174,000 |  |  | $ | 65,568,000 |  |  | $ | 76,682,000 |
Cost of goods sold |  |  | 34,231,000 |  |  |  | 46,469,000 |  |  |  | 43,642,000 |  |  |  | 52,761,000 |
Gross profit |  |  | 16,014,000 |  |  |  | 19,705,000 |  |  |  | 21,926,000 |  |  |  | 23,921,000 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General and administrative |  |  | 9,632,000 |  |  |  | 8,706,000 |  |  |  | 9,580,000 |  |  |  | 11,766,000 |
Sales and marketing |  |  | 1,731,000 |  |  |  | 2,143,000 |  |  |  | 1,905,000 |  |  |  | 2,059,000 |
Research and development |  |  | 549,000 |  |  |  | 398,000 |  |  |  | 452,000 |  |  |  | 541,000 |
Total operating expenses |  |  | 11,912,000 |  |  |  | 11,247,000 |  |  |  | 11,937,000 |  |  |  | 14,366,000 |
Operating income |  |  | 4,102,000 |  |  |  | 8,458,000 |  |  |  | 9,989,000 |  |  |  | 9,555,000 |
Other expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 3,925,000 |  |  |  | 4,663,000 |  |  |  | 6,524,000 |  |  |  | 3,177,000 |
Income from continuing operations before income tax expense |  |  | 177,000 |  |  |  | 3,795,000 |  |  |  | 3,465,000 |  |  |  | 6,378,000 |
Income tax expense |  |  | 74,000 |  |  |  | 1,631,000 |  |  |  | 2,317,000 |  |  |  | 3,311,000 |
Income from continuing operations |  |  | 103,000 |  |  |  | 2,164,000 |  |  |  | 1,148,000 |  |  |  | 3,067,000 |
Income from discontinued operations |  |  | 100,877,000 |  |  |  | - |  |  |  | - |  |  |  | - |
Net income |  | $ | 100,980,000 |  |  | $ | 2,164,000 |  |  | $ | 1,148,000 |  |  | $ | 3,067,000 |
Basic net income per share from continuing operations |  | $ | 0.01 |  |  | $ | 0.15 |  |  | $ | 0.08 |  |  | $ | 0.20 |
Basic net income per share from discontinued operations |  |  | 6.97 |  |  |  | - |  |  |  | - |  |  |  | - |
Basic net income per share |  | $ | 6.98 |  |  | $ | 0.15 |  |  | $ | 0.08 |  |  | $ | 0.20 |
Diluted net income per share from continuing operations |  | $ | 0.01 |  |  | $ | 0.15 |  |  | $ | 0.07 |  |  | $ | 0.19 |
Diluted net income per share from discontinued operations |  |  | 6.90 |  |  |  | - |  |  |  | - |  |  |  | - |
Diluted net income per share |  | $ | 6.91 |  |  | $ | 0.15 |  |  | $ | 0.07 |  |  | $ | 0.19 |
Quarterly and year-to-date computations of per share amounts are made independently. Therefore, the sum of per share amounts for the quarters may not agree with per share amounts for the year shown elsewhere in the Annual Report on Form 10-K.

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- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=35737889&loc=d3e1280-108306 + Details
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