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Note 18 - Employee Benefits
 12 Months Ended
Mar. 31, 2017
Notes to Financial Statements  
Compensation and Employee Benefit Plans [Text Block]
18.
EMPLOYEE BENEFITS
 
The Company has a
401
(k) defined contribution plan covering domestic employees and an
1165
(E) defined contribution plan covering Puerto Rico based employees (“Plans”). All employees of the Company are
immediately eligible to participate in the Plans. The Company’s contribution to the Plans for the years ended
March 31, 2017
and
2016
was approximately
$529,000
and
$376,000,
respectively, and was recorded in the consolidated statements of income (loss).
 
The Company, in each of the past
three
years, has paid a discretionary profit sharing bonus in which all employees have participated. Profit sharing expense in fiscal
2017
and
2016
was approximately
$390,000
and
$1,748,000,
respectively, and was recorded in general and administrative expenses in the consolidated statements of income (loss).
 
In addition, Delphax has a defined contribution salary deferral plan covering substantially all U.S. employees under Section
401
(k) of the Internal Revenue Code. The plan allows eligible employees to make contributions up to the maximum amount provided under the Code. De
lphax contributes an amount equal to
50%
of the participants’ before-tax contributions up to
6%
of base salary. The employer contribution vests after the employee has completed
three
years of eligible service. There was
no
contribution made by Delphax during the fiscal year
2017
compared to
$15,000
period from
November 24, 2015
through
March 31, 2016.
Delphax has canceled its
401
(k) program earlier in the fiscal year
2017.
 
Delphax also has a defined contribution plan covering substantially all Canadian employees. Canadian employees contribute
2%
of gross salary to the plan, and Delphax makes a contribution to the plan of
3%
or
4%
of gross salary depending on employee classification. The employer contribution vests over
two
years.
The contribution made by Delphax during the fiscal year
2017
was
$78,000
compared to
$41,000
during the period from
November 24, 2015
through
March 31, 2016.