XML 48 R35.htm IDEA: XBRL DOCUMENT
v2.4.0.8

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Mar. 31, 2014
INCOME TAXES |
Schedule of loss from continuing operations by location, and the provision and benefit for income taxes and the effective tax rate |
|  | 2014 |  | 2013 |
U.S. operations |  | $ | (6,722,696 | ) | $ | (1,796,789 | )
Foreign operations |  | (558,168 | ) | (142,817 | )
Loss from operations before tax |  | (7,280,864 | ) | (1,939,606 | )
Income tax (benefit) expense provision |  | (185,473 | ) | 472,331 |
Net Loss |  | $ | (7,095,391 | ) | $ | (2,411,937 | )
Schedule of components of the provision (benefit) for income taxes |
|  | 2014 |  | 2013 |
Current |  |  |  |  |
Federal |  | $ | 28,450 |  | $ | (332,580 | )
State |  | 702 |  | 12,987 |
Foreign |  | (214,625 | ) | 96,162 |
Total Current |  | (185,473 | ) | (223,431 | )
Deferred |  |  |  |  |
Federal |  | — |  | 606,757 |
State |  | — |  | (47,458 | )
Foreign |  | — |  | 136,463 |
Total Deferred |  | — |  | 695,762 |
Income tax expense (benefit) provision |  | $ | (185,473 | ) | $ | 472,331
Schedule of reconciliation between income taxes computed at the federal statutory rate to the effective income tax rates applied to the net loss reported in the Consolidated Statements of Operations and Other Comprehensive Loss |
|  | 2014 |  | 2013 |
Federal statutory income tax rate |  | 34 | % | 34 | %
State income tax, net of federal benefit |  | — | % | 1 | %
Change in valuation allowance |  | (32 | )% | (53 | )%
Stock based compensation |  | (1 | )% | (6 | )%
Other |  | 2 | % | — | %
Effective income tax rate |  | 3 | % | (24 | )%
Summary of the components of deferred income tax assets and liabilities |
|  | 2014 |  | 2013 |
Current Deferred Tax Assets: |  |  |  |  |
Compensation |  | $ | 32,965 |  | $ | 177,703 |
Allowance for doubtful accounts |  | 9,866 |  | 9,824 |
Loss on uncompleted contracts |  | 1,272,070 |  | 106,123 |
Net operating loss carryforward |  | 30,145 |  | 30,145 |
Interest rate swaps |  | 95,479 |  | 152,792 |
Other liabilities not currently deductible |  | 310,089 |  | 341,726 |
Valuation allowance |  | (759,518 | ) | (562,548 | )
Total Current Deferred Tax Asset |  | $ | 991,096 |  | $ | 255,765 |
Noncurrent Deferred Tax Asset (Liability): |  |  |  |  |
Share based compensation awards |  | 369,880 |  | 323,734 |
Net operating loss carryforward |  | 3,315,221 |  | 1,662,848 |
Valuation allowance |  | (3,647,070 | ) | (1,062,741 | )
Total Noncurrent Deferred Tax Assets |  | $ | 38,031 |  | $ | 923,841 |
Accelerated depreciation |  | (1,029,127 | ) | (1,179,606 | )
Net Noncurrent Deferred Tax Asset (Liability) |  | $ | (991,096 | ) | $ | (255,765 | )
Net Deferred Tax Asset |  | $ | — |  | $ | —
Summary of carryforwards of net operating losses and tax credits | The following table summarizes carryforwards of net operating losses and tax credits as of March 31, 2014:
|  | Amount |  | Begins to Expire: |
Federal net operating losses |  | $ | 5,865,609 |  | 2025 |
Federal alternative minimum tax credits |  | $ | 76,185 |  | Indefinite |
State net operating losses |  | $ | 20,016,690 |  | 2032
Schedule of reconciliation of unrecognized tax benefits |
Unrecognized tax benefits at March 31, 2013 |  | $ | 17,206 |
Increases based on tax positions related to 2014 |  | — |
Increases based on tax positions prior to 2014 |  | 702 |
Decreases from expiration of statute of limitations |  | — |
Unrecognized tax benefits at March 31, 2014 |  | $ | 17,908 |

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions, the (benefit) provision for income taxes and the effective tax rate. + References No definition available. + Details
Name: | tpcs_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignProvisionForIncomeTaxesAndEffectiveTaxRateTableTextBlock
Namespace Prefix: | tpcs_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of tax credit carryforwards available to reduce future taxable income and of net operating loss carryforwards, including amounts, expiration dates, limitations on use. + References No definition available. + Details
Name: | tpcs_SummaryOfOperatingLossAndTaxCreditCarryforwardsTextBlock
Namespace Prefix: | tpcs_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=32707879&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=6907707&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration