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Income Taxes
3 Months Ended
Jun. 30, 2017
Income Taxes [Abstract]  
Income Taxes
10. Income Taxes

The Company recorded income tax expense for the three months ended June 30, 2017 and 2016 of $4,316,000, or an effective tax rate of 36.1%, and $2,936,000, or an effective tax rate of 28.1%. The income tax rates for all periods were positively impacted by (i) non-taxable gains in connection with the fair value adjustment on the warrants, (ii) excess tax benefits on share-based compensation of $170,000 and $391,000 for the three months ended June 30, 2017 and 2016, respectively, and (iii) the benefit of lower statutory tax rates in foreign taxing jurisdictions. These positive impacts to income tax rates for all periods were partially offset by state income taxes and non-deductible executive compensation under Internal Revenue Code Section 162(m).

The Company is not under examination in any jurisdiction and the years ended March 31, 2017, 2016, and 2015 remain subject to examination. The Company believes no significant changes in the unrecognized tax benefits will occur within the next 12 months.