XML 13 R2.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Balance Sheets (Unaudited) - USD ($)
Dec. 31, 2015
Mar. 31, 2015
Current assets:    
Cash and cash equivalents $ 13,701,000 $ 61,230,000
Short -term investments 1,510,000 699,000
Accounts receivable - net 1,536,000 24,799,000
Inventory - net 58,501,000 56,829,000
Inventory unreturned 10,648,000 7,833,000
Deferred income taxes 23,433,000 22,998,000
Prepaid expenses and other current assets 6,263,000 7,407,000
Total current assets 115,592,000 181,795,000
Plant and equipment - net 15,143,000 12,535,000
Long-term core inventory - net (Note 5) 236,201,000 188,950,000
Long-term core inventory deposits (Note 5) [1] 5,569,000 31,571,000
Long-term deferred income taxes 243,000 261,000
Goodwill 2,053,000 0
Intangible assets - net 4,718,000 2,574,000
Other assets 3,536,000 3,195,000
TOTAL ASSETS 383,055,000 420,881,000
Current liabilities:    
Accounts payable 61,992,000 61,893,000
Accrued liabilities 8,649,000 10,096,000
Customer finished goods returns accrual 23,358,000 19,678,000
Accrued core payment 8,946,000 13,190,000
Revolving loan 7,000,000 0
Other current liabilities 3,744,000 2,471,000
Current portion of term loan 3,067,000 7,733,000
Total current liabilities 116,756,000 115,061,000
Term loan, less current portion 20,738,000 71,489,000
Long-term accrued core payment 19,794,000 23,880,000
Other liabilities 22,480,000 20,248,000
Total liabilities $ 179,768,000 $ 230,678,000
Commitments and contingencies
Preferred stock $ 0 $ 0
Common stock; par value $.01 per share, 50,000,000 shares authorized; 18,326,985 and 17,974,598 shares issued and outstanding at December 31, 2015 and March 31, 2015, respectively 183,000 180,000
Additional paid-in capital 198,306,000 191,279,000
Accumulated other comprehensive loss (4,730,000) (2,518,000)
Retained earnings 9,528,000 1,262,000
Total shareholders' equity 203,287,000 190,203,000
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 383,055,000 420,881,000
Series A junior participating preferred stock [Member]    
Preferred stock $ 0 $ 0
[1] During the nine months ended December 31, 2015, the Company completed the core buy-back program with one of its largest customers. As a result of the completion of this buy-back program and related long-term core inventory reconciliations, $25,805,000 from long-term core inventory deposits was transferred to remanufactured cores held at customers' locations within long-term core inventory. At March 31, 2015, $26,002,000 of remanufactured cores in connection with this core buy-back program was included in long-term core inventory deposits.