XML 13 R39.htm IDEA: XBRL DOCUMENT v2.4.1.9
Stock Options and Restricted Stock Awards (Tables)
 9 Months Ended
Dec. 31, 2014
Stock Options and Restricted Stock Awards [Abstract]  
Summary of Black-Scholes option pricing model assumptions used to derive weighted average fair value of stock options granted
The table below summarizes the Black-Scholes option pricing model assumptions used to derive the weighted average fair value of the stock options granted during the periods noted.

  
Nine Months Ended
December 31,
 
  
2014
   
2013
 
Weighted average risk free interest rate
  
1.75
%
  
1.94
%
Weighted average expected holding period (years)
  
5.01
   
5.96
 
Weighted average expected volatility
  
46.02
%
  
48.52
%
Weighted average expected dividend yield
  
-
   
-
 
Weighted average fair value of options granted
 
$
9.65
  
$
4.42
 
Summary of stock option transactions
A summary of stock option transactions for the nine months ended December 31, 2014 follows:

  
Number of
Shares
   
Weighted Average
Exercise Price
 
Outstanding at March 31, 2014
  
1,426,968
  
$
9.21
 
Granted
  
82,537
  
$
22.99
 
Exercised
  
(94,234
)
 
$
10.31
 
Cancelled
  
(8,250
)
 
$
10.71
 
Outstanding at December 31, 2014
  
1,407,021
  
$
9.93
 
Summary of changes in the status of non-vested stock options
A summary of changes in the status of non-vested stock options during the nine months ended December 31, 2014 is presented below:

  
 
Number of
Shares
   
Weighted Average
Grant Date Fair
Value
 
Non-vested at March 31, 2014
  
490,702
  
$
4.39
 
Granted
  
82,537
  
$
9.65
 
Vested
  
(246,341
)
 
$
3.89
 
Cancelled
  
-
  
$
-
 
Non-vested at December 31, 2014
  
326,898
  
$
6.09
 
Schedule of restricted stock units activity
A summary of changes in the status of non-vested restricted stock during the nine months ended December 31, 2014 is presented below:

  
 
Number of
Shares
   
Weighted Average
Grant Date Fair
Value
 
Non-vested restricted stock at March 31, 2014
  
138,000
  
$
9.32
 
Restricted stock granted
  
95,645
  
$
24.21
 
Restricted stock vested
  
(50,402
)
 
$
10.51
 
Restricted stock cancelled
  
-
  
$
-
 
Non-vested restricted stock at December 31, 2014
  
183,243
  
$
16.77