10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 10-Q

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT 1934

For the quarterly period ended September 30, 2012

or

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the transition period from to

Commission File Number:       0-27618

Columbus McKinnon Corporation
(Exact name of registrant as specified in its charter)
New York	16-0547600
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
140 John James Audubon Parkway, Amherst, NY	14228-1197
(Address of principal executive offices)	(Zip code)
(716) 689-5400
(Registrant's telephone number, including area code)
(Former name, former address and former fiscal year, if changed since last report.)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  : x Yes   ¨No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes x  No ¨

Indicate by checkmark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Act.

Large accelerated filer  ¨	Accelerated filer x
Non-accelerated filer  ¨  (Do not check if a smaller reporting company)	Smaller Reporting Company ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ¨ Yes    x No

The number of shares of common stock outstanding as of October 19, 2012 was:  19,496,251 shares.

FORM 10-Q INDEX

COLUMBUS McKINNON CORPORATION

September 30, 2012

		Page #
Part I. Financial Information
Item 1.	Condensed Consolidated Financial Statements (Unaudited)
	Condensed consolidated balance sheets – September 30, 2012 and March 31, 2012	3
	Condensed consolidated statements of operations and retained earnings - Three and six months ended September 30, 2012 and September 30, 2011	4
	Condensed consolidated statements of comprehensive income (loss) - Three and six months ended September 30, 2012 and September 30, 2011	5
	Condensed consolidated statements of cash flows - Six months ended September 30, 2012 and September 30, 2011	6
	Notes to condensed consolidated financial statements – September 30, 2012	7
Item 2.	Management's Discussion and Analysis of Results of Operations and Financial Condition	26
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	33
Item 4.	Controls and Procedures	33
Part II. Other Information
Item 1.	Legal Proceedings – none.	34
Item 1A.	Risk Factors	34
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds – none.	34
Item 3.	Defaults upon Senior Securities – none.	34
Item 4.	Mine Safety Disclosures – N/A.	34
Item 5.	Other Information – none.	34
Item 6.	Exhibits	34

2

Part I. Financial Information

Item 1. Condensed Consolidated Financial Statements (Unaudited)

COLUMBUS McKINNON CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

	September 30, 2012			March 31, 2012
	(unaudited)
ASSETS:	(In thousands)
Current assets:
Cash and cash equivalents	$	94,927		$	89,473
Trade accounts receivable		82,933			88,642
Inventories		112,051			108,055
Prepaid expenses and other		13,662			10,449
Total current assets		303,573			296,619
Property, plant, and equipment, net		59,842			61,709
Goodwill		105,559			106,435
Other intangibles, net		14,322			15,791
Marketable securities		24,629			25,393
Deferred taxes on income		2,790			2,824
Other assets		5,993			6,636
Total assets	$	516,708		$	515,407
LIABILITIES AND SHAREHOLDERS' EQUITY:
Current liabilities:
Notes payable to banks		-			112
Trade accounts payable		33,833			40,991
Accrued liabilities		57,900			61,713
Current portion of long-term debt		1,062			1,093
Total current liabilities		92,795			103,909
Senior debt, less current portion		3,150			3,749
Subordinated debt		148,276			148,140
Other non-current liabilities		96,131			99,143
Total liabilities		340,352			354,941
Shareholders' equity:
Voting common stock; 50,000,000 shares authorized; 19,496,039 and 19,400,526 shares issued and outstanding		194			193
Additional paid in capital		190,932			189,260
Retained earnings		42,583			25,895
ESOP debt guarantee		(762	)		(975	)
Accumulated other comprehensive loss		(56,591	)		(53,907	)
Total shareholders' equity		176,356			160,466
Total liabilities and shareholders' equity	$	516,708		$	515,407

See accompanying notes.

3

COLUMBUS McKINNON CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND RETAINED EARNINGS

(UNAUDITED)

	Three Months Ended						Six Months Ended
	September 30,			September 30,			September 30,			September 30,
	2012			2011			2012			2011
	(In thousands, except per share data)
Net sales	$	146,472		$	149,863		$	299,485		$	289,623
Cost of products sold		104,070			110,632			213,259			214,750
Gross profit		42,402			39,231			86,226			74,873
Selling expenses		16,447			15,509			32,814			31,535
General and administrative expenses		12,546			10,899			26,724			22,351
Restructuring charges		-			-			-			430
Amortization of intangibles		489			509			988			1,030
		29,482			26,917			60,526			55,346
Income from operations		12,920			12,314			25,700			19,527
Interest and debt expense		3,505			3,557			7,004			7,061
Investment income		(382	)		(287	)		(662	)		(549	)
Foreign currency exchange loss (gain)		190			200			(146	)		218
Other income, net		(173	)		(300	)		(495	)		(481	)
Income from continuing operations before income tax expense		9,780			9,144			19,999			13,278
Income tax expense		1,528			2,877			3,311			4,232
Income from continuing operations		8,252			6,267			16,688			9,046
Income from discontinued operations - net of tax		-			409			-			409
Net income		8,252			6,676			16,688			9,455
Retained earnings (accumulated deficit) - beginning of period		34,331			1,707			25,895			(1,072	)
Retained earnings -  end of period	$	42,583		$	8,383		$	42,583		$	8,383
Average basic shares outstanding		19,419			19,274			19,384			19,224
Average diluted shares outstanding		19,581			19,471			19,546			19,511
Basic income per share:
Income from continuing operations	$	0.42		$	0.33		$	0.86		$	0.47
Income from discontinued operations		-			0.02			-			0.02
Net income	$	0.42		$	0.35		$	0.86		$	0.49
Diluted income per share:
Income from continuing operations	$	0.42		$	0.32		$	0.85		$	0.46
Income from discontinued operations		-			0.02			-			0.02
Net income	$	0.42		$	0.34		$	0.85		$	0.48

See accompanying notes.

4

COLUMBUS McKINNON CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(UNAUDITED)

	Three Months Ended						Six Months Ended
	September 30,			September 30,			September 30,			September 30,
	2012			2011			2012			2011
	(In thousands)
Net income	$	8,252		$	6,676		$	16,688		$	9,455
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		2,466			(6,579	)		(2,644	)		(4,450	)
Change in derivatives qualifying as hedges, net of deferred tax (benefit) expense of ($31), $35, ($69), and $39		(91	)		65			(188	)		72
Adjustments:
Unrealized holding gain (loss) arising during the period, net of deferred taxes of $0 *		521			(655	)		401			(412	)
Reclassification adjustment for (loss) gain included in net income, net of deferred tax expense of $0 *		(170	)		68			(253	)		125
Total Adjustments		351			(587	)		148			(287	)
Total other comprehensive income (loss)		2,726			(7,101	)		(2,684	)		(4,665	)
Comprehensive income (loss)	$	10,978			(425	)	$	14,004		$	4,790

* The zero net deferred tax benefit related to the change in derivatives qualifying as hedges, unrealized holding gains and losses, and reclassification adjustments during the three and six months ended September 30, 2012 and 2011 is due to the related deferred tax asset valuation allowance.

See accompanying notes.

5

COLUMBUS McKINNON CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

	Six Months Ended
	September 30,			September 30,
	2012			2011
	(In thousands)
OPERATING ACTIVITIES:
Net income	$	16,688		$	9,455
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Income from discontinued operations		-			(409	)
Depreciation and amortization		6,221			5,711
Deferred income taxes and related valuation allowance		155			261
Gain on sale of real estate/investments		(253	)		(223	)
Stock-based compensation		1,649			1,447
Amortization of deferred financing costs		130			192
Changes in operating assets and liabilities:
Trade accounts receivable		4,618			(3,421	)
Inventories		(7,231	)		(6,037	)
Prepaid expenses and other		(3,477	)		1,288
Other assets		445			143
Trade accounts payable		(6,002	)		481
Accrued and non-current liabilities		(5,369	)		(4,470	)
Net cash provided by operating activities		7,574			4,418
INVESTING ACTIVITIES:
Proceeds from sale of marketable securities		3,101			3,978
Purchases of marketable securities		(1,936	)		(3,538	)
Capital expenditures		(4,080	)		(7,225	)
Proceeds from sale of assets		1,482			-
Net cash used for investing activities from continuing operations		(1,433	)		(6,785	)
Net cash provided by investing activities from discontinued operations		-			409
Net cash used for investing activities		(1,433	)		(6,376	)
FINANCING ACTIVITIES:
Proceeds from exercise of stock options		219			1,733
Net payments under lines-of-credit		(51	)		(202	)
Repayment of debt		(393	)		(459	)
Change in ESOP guarantee		213			217
Net cash (used for) provided by financing activities		(12	)		1,289
Effect of exchange rate changes on cash		(675	)		(724	)
Net change in cash and cash equivalents		5,454			(1,393	)
Cash and cash equivalents at beginning of period		89,473			80,139
Cash and cash equivalents at end of period	$	94,927		$	78,746
Supplementary cash flow data:
Interest paid	$	6,898		$	6,785
Income taxes paid, net of refunds	$	3,591		$	3,946

See accompanying notes.

6

COLUMBUS McKINNON CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

September 30, 2012

1. Description of Business

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position of Columbus McKinnon Corporation (the Company) at September 30, 2012, the results of its operations for the three and six month periods ended September 30, 2012 and September 30, 2011, and cash flows for the six months ended September 30, 2012 and September 30, 2011, have been included. Results for the period ended September 30, 2012 are not necessarily indicative of the results that may be expected for the year ending March 31, 2013. The balance sheet at March 31, 2012 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Columbus McKinnon Corporation annual report on Form 10-K for the year ended March 31, 2012.

The Company is a leading designer, marketer and manufacturer of material handling products and services which efficiently and safely move, lift, position and secure material. Key products include hoists, rigging tools, cranes, and actuators. The Company's material handling products are sold globally, principally to third party distributors through diverse distribution channels, and to a lesser extent directly to end-users. During the three and six months ended September 30, 2012, approximately 57% of sales were to customers in the U.S.

2. Divestitures

Income from discontinued operations presented in the condensed consolidated statements of operations and retained earnings for the three and six month period ending September 30, 2011 includes payments received on a note receivable related to the Company's fiscal 2002 disposal of Automatic Systems, Inc. The note has been fully collected as of September 30, 2012.

During the quarter ended September 30, 2012, the Company sold certain assets of the Gaffey division of Crane Equipment and Service, Inc.  The sale of the Gaffey assets did not have a material effect on the Company's financial statements for the three and six months ended September 30, 2012 and therefore was not reclassified as a discontinued operation.

3. Fair Value Measurements

Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 820 "Fair Value Measurements and Disclosures" establishes the standards for reporting financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value on a recurring basis (at least annually). Under these standards, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the "exit price") in an orderly transaction between market participants at the measurement date.

ASC Topic 820-10-35-37 establishes a hierarchy for inputs that may be used to measure fair value. Level 1 is defined as quoted prices in active markets that the Company has the ability to access for identical assets or liabilities. The fair value of the Company's marketable securities is based on Level 1 inputs. Level 2 is defined as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3 inputs are unobservable inputs based on the Company's own assumptions used to measure assets and liabilities at fair value. The Company primarily uses readily observable market data in conjunction with internally developed discounted cash flow valuation models when valuing its derivative portfolio and, consequently, the fair value of the Company's derivatives is based on Level 2 inputs.  The Company uses quoted prices in an inactive market when valuing its Subordinated Debt, represented by the 7 7/8% Notes and, consequently, the fair value is based on Level 2 inputs. The carrying values of the Company's senior debt and notes payable to banks approximate fair value based on current market interest rates for debt instruments of similar credit standing and, consequently, their fair values are based on Level 2 inputs. As of September 30, 2012, the Company's assets and liabilities measured or disclosed at fair value on recurring bases were as follows (in thousands):

7

	Fair value measurements at reporting date using
				Quoted prices in		Significant other			Significant
				active markets for		observable			unobservable
	At September 30,			identical assets		inputs			inputs
Description	2012			(Level 1)		(Level 2)			(Level 3)
Assets/(Liabilities) measured at fair value:
Marketable securities	$	24,629		$	24,629	$	-		$	-
Derivative liabilities		(131	)		-		(131	)		-
Other equity investments		1,131			1,131		-			-
Assets/(Liabilities) disclosed at fair value:
Subordinated debt	$	(160,500	)	$	-	$	(160,500	)	$	-
Senior debt		(4,212	)		-		(4,212	)		-

Assets that are measured on a nonrecurring basis include the Company's reporting units that are used to test goodwill for impairment on an annual or interim basis under the provisions of ASC Topic 350-20-35-1 "Intangibles, Goodwill and Other – Goodwill Subsequent Measurement," as well as property, plant and equipment in circumstances when the Company determines that those assets are impaired under the provisions of ASC Topic 360-10-35-17 "Property Plant and Equipment – Subsequent Measurement" and the measurement of certain termination benefits in connection with the Company's restructuring plan under the provisions of ASC Topic 420 "Exit or Disposal Cost Obligations." There were no assets or liabilities measured at fair value on a nonrecurring basis during the quarter or six months ended September 30, 2012.

8

4. Inventories

Inventories consisted of the following (in thousands):

	September 30,			March 31,
	2012			2012
At cost - FIFO basis:
Raw materials	$	61,186		$	59,252
Work-in-process		18,216			18,952
Finished goods		54,115			49,315
		133,517			127,519
LIFO cost less than FIFO cost		(21,466	)		(19,464	)
Net inventories	$	112,051		$	108,055

An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations must necessarily be based on management's estimates of expected year-end inventory levels and costs. Because these are subject to many factors beyond management's control, estimated interim results are subject to change in the final year-end LIFO inventory valuation.

5. Marketable Securities

All of the Company's marketable securities, which consist of equity securities and fixed income securities, have been classified as available-for-sale securities and are therefore recorded at their fair values with the unrealized gains and losses, net of tax, reported in accumulated other comprehensive income (loss) in the shareholders' equity section of the balance sheet unless unrealized losses are deemed to be other than temporary. In such instances, the unrealized losses are reported in the consolidated statements of operations and retained earnings within investment income. Estimated fair value is based on published trading values at the balance sheet dates. The cost of securities sold is based on the specific identification method. Interest and dividend income are included in investment income in the consolidated statements of operations and retained earnings.

The marketable securities are carried as long-term assets since they are held for the settlement of the Company's general and products liability insurance claims filed through CM Insurance Company, Inc., a wholly owned captive insurance subsidiary.  The marketable securities are not available for general working capital purposes.

In accordance with ASC Topic 320-10-35-30 "Investments – Debt & Equity Securities – Subsequent Measurement," the Company reviews its marketable securities for declines in market value that may be considered other-than-temporary. The Company generally considers market value declines to be other-than-temporary if there are declines for a period longer than six months and in excess of 20% of original cost, or when other evidence indicates impairment.  There were no other-than-temporary impairments for the six months ended September 30, 2012 or September 30, 2011.

The following is a summary of available-for-sale securities at September 30, 2012 (in thousands):

			Gross Unrealized			Gross Unrealized			Estimated Fair
	Cost		Gains			Losses			Value
Marketable securities	$	22,153		$	2,538		$	62		$	24,629

9

The aggregate fair value of investments and unrealized losses on available-for-sale securities in an unrealized loss position at September 30, 2012 are as follows (in thousands):

	Aggregate		Unrealized
	Fair Value		Losses
Securities in a continuous loss position for less than 12 months	$	-	$	-
Securities in a continuous loss position for more than 12 months		1,048		62
	$	1,048	$	62

Net realized gains related to sales of marketable securities were $170,000 and $58,000, in the three-month periods ended September 30, 2012 and September 30, 2011, respectively and $253,000 and $121,000 for the six month periods then ended, respectively.

The following is a summary of available-for-sale securities at March 31, 2012 (in thousands):

	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Marketable securities	$	23,183	$	2,249	$	39	$	25,393

6. Goodwill and Intangible Assets

Goodwill is not amortized but is tested for impairment at least annually, in accordance with the provisions of ASC Topic 350-20-35-1.  Goodwill impairment is deemed to exist if the net book value of a reporting unit exceeds its estimated fair value.  The fair value of a reporting unit is determined using a discounted cash flow methodology.  The Company's reporting units are determined based upon whether discrete financial information is available and reviewed regularly, whether those units constitute a business, and the extent of economic similarities between those reporting units for purposes of aggregation.  The Company's reporting units identified under ASC Topic 350-20-35-33 are at the component level, or one level below the reporting segment level as defined under ASC Topic 280-10-50-10 "Segment Reporting – Disclosure." The Company has four reporting units.  Only two of the four reporting units carry goodwill at September 30, 2012 and March 31, 2012.

When we evaluate the potential for goodwill impairment, we assess a range of qualitative factors including, but not limited to, macroeconomic conditions, industry conditions, the competitive environment, changes in the market for our products and services, regulatory and political developments, entity specific factors such as strategy and changes in key personnel and overall financial performance. If, after completing this assessment, it is determined that it is more likely than not that the fair value of a reporting unit is less than its carrying value, we proceed to a two-step impairment test.

In accordance with ASC Topic 350-20-35-3, the measurement of impairment of goodwill consists of two steps. In the first step, the Company compares the fair value of each reporting unit to its carrying value. As part of the impairment analysis, the Company determines the fair value of each of its reporting units with goodwill using the income approach. The income approach uses a discounted cash flow methodology to determine fair value. This methodology recognizes value based on the expected receipt of future economic benefits. Key assumptions in the income approach include a free cash flow projection, an estimated discount rate, a long-term growth rate and a terminal value. These assumptions are based upon the Company's historical experience, current market trends and future expectations.

We performed our qualitative assessment during the fourth quarter of fiscal year 2012 and determined it was not more likely than not that the fair value of each of our reporting units was less than its applicable carrying value. Accordingly, we did not perform the two-step goodwill impairment test for any of our reporting units.

Future impairment indicators, such as declines in forecasted cash flows, may cause additional significant impairment charges. Impairment charges could be based on such factors as the Company's stock price, forecasted cash flows, assumptions used, control premiums or other variables.

10

A summary of changes in goodwill during the six months ended September 30, 2012 is as follows (in thousands):

Balance at April 1, 2012	$	106,435
Currency translation		(876	)
Balance at September 30, 2012	$	105,559

Identifiable intangible assets acquired in a business combination are amortized over their useful lives unless their useful lives are indefinite, in which case those intangible assets are tested for impairment annually (or upon identification of impairment indicators) and not amortized until their lives are determined to be finite.

Identifiable intangible assets are summarized as follows (in thousands):

	September 30, 2012							March 31, 2012
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Trademark	$	5,574	$	(1,222	)	$	4,352	$	5,783	$	(1,109	)	$	4,674
Customer relationships		14,251		(5,235	)		9,016		14,808		(4,693	)		10,115
Other		1,281		(327	)		954		1,267		(265	)		1,002
Total	$	21,106	$	(6,784	)	$	14,322	$	21,858	$	(6,067	)	$	15,791

Based on the current amount of identifiable intangible assets, the estimated amortization expense for each of the fiscal years 2013 through 2017 is expected to be in a range of $1,700,000 to $1,900,000.

7. Derivative Instruments

The Company uses derivative instruments to manage selected foreign currency exposures. The Company does not use derivative instruments for speculative trading purposes. All derivative instruments must be recorded on the balance sheet at fair value. For derivatives designated as cash flow hedges, the effective portion of changes in the fair value of the derivative is recorded as accumulated other comprehensive loss, or "AOCL", and is reclassified to earnings when the underlying transaction has an impact on earnings. The ineffective portion of changes in the fair value of the derivative is reported in foreign currency exchange gain in the Company's consolidated statement of operations. For derivatives not classified as cash flow hedges, all changes in market value are recorded as a foreign currency exchange loss (gain) in the Company's consolidated statements of operations.

The Company has foreign currency forward agreements and cross-currency swaps in place to offset changes in the value of intercompany loans to certain foreign subsidiaries due to changes in foreign exchange rates. The notional amount of these derivatives is $5,795,000 and all contracts mature by September 30, 2013. These contracts are not designated as hedges.

The Company has foreign currency forward agreements in place to hedge changes in the value of recorded foreign currency liabilities due to changes in foreign exchange rates at the settlement date. The notional amount of those derivatives is $2,380,000 and all contracts mature within twelve months. These contracts are marked to market each balance sheet date and are not designated as hedges.

The Company has foreign currency forward agreements that are designated as cash flow hedges to hedge a portion of forecasted inventory purchases and sales, including multi-year contracts related to capital project sales, denominated in a foreign currency. The notional amount of those derivatives is $9,533,000 and all contracts mature within twenty one months of September 30, 2012.

The Company is exposed to credit losses in the event of non performance by the counterparties on its financial instruments. All counterparties have investment grade credit ratings. The Company anticipates that these counterparties will be able to fully satisfy their obligations under the contracts. The Company has derivative contracts with three different counterparties as of September 30, 2012.

11

The following is the effect of derivative instruments on the condensed consolidated statement of operations for the three months ended September 30, 2012 and 2011 (in thousands):

September 30,	Derivatives Designated as Cash Flow  Hedges	Gain/(Loss) Recognized (1)			Location of Gain/(Loss) Recognized in Income on Derivatives	Gain/(Loss) Reclassified (2)
2012	Foreign exchange contracts	$	(68	)	Cost of products sold	$	24
2011	Foreign exchange contracts	$	-		Cost of products sold	$	(5	)

(1) Recognized in Other Comprehensive Loss (AOCL) on Derivatives (Effective Portion)

(2) Reclassified from AOCL into Income (Effective Portion)

September 30,	Derivatives Not Designated as Hedging Instruments	Location of Gain Recognized in Income on Derivatives	Gain Recognized in Income on Derivatives
2012	Foreign exchange contracts	Foreign currency exchange gain (loss)	$	(77	)
2011	Foreign exchange contracts	Foreign currency exchange gain	$	837

12

The following is the effect of derivative instruments on the condensed consolidated statement of operations for the six months ended September 30, 2012 and 2011 (in thousands):

September 30,	Derivatives Designated as Cash Flow  Hedges	(Loss)/Gain Recognized (3)			Location of Gain/(Loss) Recognized in Income on Derivatives	Gain Reclassified (4)
2012	Foreign exchange contracts	$	(73	)	Cost of products sold	$	116
2011	Foreign exchange contracts	$	135		Cost of products sold	$	63

(3) Recognized in AOCL on Derivatives (Effective Portion)

(4) Reclassified from AOCL into Income (Effective Portion)

September 30,	Derivatives Not Designated as Hedging Instruments	Location of Gain Recognized in Income on Derivatives	Gain Recognized in Income on Derivatives
2012	Foreign exchange contracts	Foreign currency exchange gain	$	534
2011	Foreign exchange contracts	Foreign currency exchange gain	$	988

As of September 30, 2012, the Company had no derivatives designated as net investments or fair value hedges in accordance with ASC Topic 815, "Derivatives and Hedging."

The following is information relative to the Company's derivative instruments in the condensed consolidated balance sheet as of September 30, 2012 (in thousands):

Derivatives Designated as Hedging Instruments	Balance Sheet Location	Fair Value of Asset (Liability)
Foreign exchange contracts	Other Assets	$	69
Foreign exchange contracts	Accrued Liabilities	$	(247	)

Derivatives Not Designated as Hedging Instruments	Balance Sheet Location	Fair Value of Asset (Liability)
Foreign exchange contracts	Other Assets	$	59
Foreign exchange contracts	Accrued Liabilities	$	(12	)

8. Debt

The Company entered into an amended, restated and expanded revolving credit facility dated December 31, 2009. The Revolving Credit Facility provides availability up to a maximum of $85,000,000 and has an initial term ending December 31, 2013.

Provided there is no default, the Company may request an increase in the availability of the Revolving Credit Facility by an amount not exceeding $65,000,000, subject to lender approval. The unused portion of the Revolving Credit Facility totalled $72,593,000 net of outstanding borrowings of $0 and outstanding letters of credit of $12,407,000 as of September 30, 2012. The outstanding letters of credit at September 30, 2012 consisted of $2,977,000 in commercial letters of credit and $9,430,000 of standby letters of credit.   Interest on the revolver is payable at varying Eurodollar rates based on LIBOR or a Base Rate plus a spread determined by the Company's total leverage ratio amounting to 150 or 50 basis points, respectively, based on the Company's leverage ratio at September 30, 2012.  The Revolving Credit Facility is secured by all U.S. inventory, receivables, equipment, real property, subsidiary stock (limited to 65% of non-U.S. subsidiaries) and intellectual property.

13

The corresponding credit agreement associated with the Revolving Credit Facility places certain debt covenant restrictions on the Company, including certain financial requirements and restrictions on dividend payments, with which the Company was in compliance as of September 30, 2012.  Key financial covenants include a minimum fixed charge coverage ratio of 1.25x, a maximum total leverage ratio, net of cash, of 3.50x and maximum annual capital expenditures of $18,000,000, excluding capital expenditures for a global ERP system.

The Company entered into a third amendment to its Revolving Credit Facility on July 15, 2011 to (i) make reductions in the 'Applicable Rate' grid, in recognition of improved market conditions, resulting in lower unused, Libor and Base Rate borrowing and letters of credit fees at various levels in the grid, based on the Total Leverage Ratio, (ii) amend the definition of Total Funded Indebtedness to exclude commercial letters of credit. Total funded indebtedness is used in the calculation of the Total Leverage Ratio covenant, (iii) allow for letters of credit to be issued for any period up to 5 days prior to the expiry date of the Revolving Credit Facility and a "basket" of $20,000,000 for letters of credit which may expire up to 1 year past the expiry date, (iv) permit a general lien "basket" of $2,500,000, (v) extend the expected date for consummation of a pre-approved specific acquisition and divestiture and (vi) increase the general Investments "basket" by $5,000,000 to $30,000,000.

The Company entered into a fourth amendment to its Revolving Credit Facility on February 13, 2012, in relation to a proposed change in its global legal entity structure, to  (i) permit the Company to pledge 65% of the stock of a newly created Dutch holding company as consideration for release of the pledge of 65% of the stock of an existing non-U.S. subsidiary; (ii) increase the "basket" for investments in the Company's subsidiaries, that are not loan parties, by $20,000,000 to $30,000,000 and (iii) permit the newly created Dutch holding company to operate as a treasury center.

On January 25, 2011, the Company issued $150,000,000 principal amount of 7 7/8% Senior Subordinated Notes due 2019 in a private placement pursuant to Rule 144A under the Securities Act of 1933, as amended (Unregistered 7 7/8% Notes). The offering price of the Unregistered 7 7/8% Notes was 98.545% of par after adjustment for original issue discount.

Provisions of the Unregistered 7 7/8% Notes include, without limitation, restrictions on indebtedness, asset sales, and dividends and other restricted payments. Until February 1, 2014, the Company may redeem up to 35% of the outstanding Unregistered 7 7/8% Notes at a redemption price of 107.875% with the proceeds of equity offerings, subject to certain restrictions. On or after February 1, 2015, the Unregistered 7 7/8% Notes are redeemable at the option of the Company, in whole or in part, at a redemption price of 103.938%, reducing to 101.969% and 100% on February 1, 2016 and February 1, 2017, respectively and are due February 1, 2019. In the event of a Change of Control (as defined in the indenture for such notes), each holder of the Unregistered 7 7/8% Notes may require the Company to repurchase all or a portion of such holder's Unregistered 7 7/8% Notes at a purchase price equal to 101% of the principal amount thereof. The Unregistered 7 7/8% Notes are guaranteed by certain existing and future U.S. subsidiaries and are not subject to any sinking fund requirements.

On June 2, 2011 the Company exchanged $150,000,000 of its outstanding Unregistered 7 7/8% Notes due 2019 for a like principal amount of its 7 7/8% Notes due 2019, registered under the Securities Act of 1933, as amended (7 7/8% Notes).  All of the Unregistered 7 7/8% Senior Subordinated Notes due 2019 were exchanged in the transaction.  The 7 7/8% Notes contain identical terms and provisions as the Unregistered 7 7/8% Notes.

The Company's Notes payable to banks consist primarily of draws against unsecured non-U.S. lines of credit.  The Company's other senior debt consists primarily of capital lease obligations.

Unsecured and uncommitted lines of credit are available to meet short-term working capital needs for certain of our subsidiaries operating outside of the U.S. The lines of credit are available on an offering basis, meaning that transactions under the line of credit will be on such terms and conditions, including interest rate, maturity, representations, covenants and events of default, as mutually agreed between our subsidiaries and the local bank at the time of each specific transaction. As of September 30, 2012, unsecured credit lines totaled approximately $8,948,000, of which $0 was drawn. In addition to the above facilities, one of our foreign subsidiaries has a credit line secured by a parent company guarantee. This credit line provides availability of up to $955,000, of which $0 was drawn as of September 30, 2012.

14

The Company entered into a fifth amended, restated and expanded revolving credit facility dated October 19, 2012 (New Revolving Credit Facility). The New Revolving Credit Facility provides availability up to a maximum of $100,000,000 and has an initial term ending October 31, 2017.

Provided there is no default, the Company may request an increase in the availability of the New Revolving Credit Facility by an amount not exceeding $75,000,000, subject to lender approval. Interest on the revolver is payable at varying Eurodollar rates based on LIBOR or a Base Rate plus a spread determined by the Company's total leverage ratio.  The New Revolving Credit Facility is secured by all U.S. inventory, receivables, equipment, real property, subsidiary stock (limited to 65% of non-U.S. subsidiaries) and intellectual property.

The corresponding credit agreement associated with the New Revolving Credit Facility places certain debt covenant restrictions on the Company, including certain financial requirements and restrictions on dividend payments.  Key financial covenants include a minimum fixed charge coverage ratio of 1.25x, a maximum total leverage ratio, net of cash, of 3.50x and maximum annual capital expenditures of $30,000,000.

Refer to the Company's consolidated financial statements included in its annual report on Form 10-K for the year ended March 31, 2012 for further information on its debt arrangements.

9. Net Periodic Benefit Cost

The following table sets forth the components of net periodic pension cost for the Company's defined benefit pension plans (in thousands):

	Three months ended						Six Months Ended
	September 30,						September 30,
	2012			2011			2012			2011
Service costs	$	613		$	845		$	1,226		$	1,691
Interest cost		2,469			2,507			4,938			5,014
Expected return on plan assets		(2,803	)		(2,688	)		(5,606	)		(5,376	)
Net amortization		1,497			1,004			2,995			2,008
Curtailment (see below)		-			-			-			1,172
Net periodic pension cost	$	1,776		$	1,668		$	3,553		$	4,509

The Company currently plans to contribute approximately $10,400,000 to its pension plans in fiscal 2013.

The following table sets forth the components of net periodic postretirement benefit cost for the Company's defined benefit postretirement plans (in thousands):

	Three months ended				Six Months Ended
	September 30,				September 30,
	2012		2011		2012		2011
Interest cost		78		120		156		239
Amortization of plan net losses		36		82		72		164
Net periodic postretirement cost	$	114	$	202	$	228	$	403

15

During the six months ended September 30, 2011, the Company completed negotiations with one of its labor unions which resulted in an amendment to one of its pension plans.  The Company recorded within cost of products sold for the six months ended September 30, 2011 a curtailment charge of $1,172,000 resulting from the amendment.

For additional information on the Company's defined benefit pension and postretirement benefit plans, refer to the consolidated financial statements included in the Company's annual report on Form 10-K for the year ended March 31, 2012.

10. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands):

	Three months ended				Six Months Ended
	September 30, 2012		September 30, 2011		September 30, 2012		September 30, 2011
Numerator for basic and diluted earnings per share:
Net income	$	8,252	$	6,676		16,688		9,455
						-		-
Denominators:						-		-
Weighted-average common stock outstanding – denominator for basic EPS		19,419		19,274		19,384		19,224
Effect of dilutive employee stock options and other share-based awards		162		197		162		287
Adjusted weighted-average common stock outstanding and assumed conversions – denominator for diluted EPS		19,581		19,471		19,546		19,511

Stock options and performance shares with respect to 290,000 and 307,000 common shares for the three month periods ended September 30, 2012 and 2011, respectively and 290,000 and 451,000 common shares for the six month periods ended September 30, 2012 and 2011, respectively were not included in the computation of diluted earnings per share for September 30, 2012 and 2011, respectively, because they were antidilutive.

On July 26, 2010, the shareholders of the Company approved the 2010 Long Term Incentive Plan ("LTIP").  The Company grants share based compensation to eligible participants under the LTIP.  The total number of shares of common stock with respect to which awards may be granted under the plan is 1,250,000 including shares not previously authorized for issuance under any of the Prior Stock Plans and any shares not issued or subject to outstanding awards under the Prior Stock Plans.

During the first six months of fiscal 2013 and 2012, a total of 28,298 and 162,144 shares of common stock were issued upon the exercising of stock options related to the Company's stock option plans. During the fiscal year ended March 31, 2012, 49,254 shares of restricted stock vested and were issued.

Refer to the Company's consolidated financial statements included in its Form 10-K for the year ended March 31,2012for further information on its earnings per share and stock plans.

11. Loss Contingencies

Like many industrial manufacturers, the Company is involved in asbestos-related litigation.  In continually evaluating costs relating to its estimated asbestos-related liability, the Company reviews, among other things, the incidence of past and recent claims, the historical case dismissal rate, the mix of the claimed illnesses and occupations of the plaintiffs, its recent and historical resolution of the cases, the number of cases pending against it, the status and results of broad-based settlement discussions, and the number of years such activity might continue. Based on this review, the Company has estimated its share of liability to defend and resolve probable asbestos-related personal injury claims. This estimate is highly uncertain due to the limitations of the available data and the difficulty of forecasting with any certainty the numerous variables that can affect the range of the liability. The Company will continue to study the variables in light of additional information in order to identify trends that may become evident and to assess their impact on the range of liability that is probable and estimable.

16

Based on actuarial information, the Company has estimated its asbestos-related aggregate liability including related legal costs to range between $7,000,000 and $18,000,000 using actuarial parameters of continued claims for a period of 18 to 30 years from September 30, 2012.  The Company's estimation of its asbestos-related aggregate liability that is probable and estimable, in accordance with U.S. generally accepted accounting principles approximates $11,400,000, which has been reflected as a liability in the consolidated financial statements as of September 30, 2012. The recorded liability does not consider the impact of any potential favorable federal legislation. This liability will fluctuate based on the uncertainty in the number of future claims that will be filed and the cost to resolve those claims, which may be influenced by a number of factors, including the outcome of the ongoing broad-based settlement negotiations, defensive strategies, and the cost to resolve claims outside the broad-based settlement program. Of this amount, management expects to incur asbestos liability settlement costs and legal fees of approximately $1,500,000 over the next 12 months. Because payment of the liability is likely to extend over many years, management believes that the potential additional costs for claims will not have a material effect on the financial condition of the Company or its liquidity, although the effect of any future liabilities recorded could be material to earnings in a future period.

The Company is also involved in other unresolved legal actions that arise in the normal course of business. The most prevalent of these unresolved actions involve disputes related to product design, manufacture and performance liability. The Company's estimation of its product-related aggregate liability that is probable and estimable, in accordance with U.S. generally accepted accounting principles approximates $7,300,000, which has been reflected as a liability in the consolidated financial statements as of September 30, 2012. In some cases, we cannot reasonably estimate a range of loss because there is insufficient information regarding the matter.  Management believes that the potential additional costs for claims will not have a material effect on the financial condition of the Company or its liquidity, although the effect of any future liabilities recorded could be material to earnings in a future period.

12. Restructuring Charges

During the six months ended September 30, 2011, the Company initiated and completed employee workforce reductions at one of its European facilities.  These reductions resulted in approximately $413,000 in one-time termination benefits recorded as restructuring costs which were fully paid by March 31, 2012.  Total restructuring costs incurred totaled $430,000 for the six months ended September 30, 2011.

13. Income Taxes

Income tax expense as a percentage of income from continuing operations before income tax expense was 16% and 31% for the three month periods ended September 30, 2012 and 2011, respectively and 17% and 32% for the six-month periods then ended, respectively.  Typically these percentages vary from the U.S. statutory rate primarily due to varying effective tax rates at the Company's foreign subsidiaries, and the jurisdictional mix of taxable income for these subsidiaries.  We estimate that the effective tax rate related to continuing operations will be approximately 15% to 20% for fiscal 2013 based on the forecasted jurisdictional mix of taxable income.

During the fiscal year ended March 31, 2011, the Company recorded a non-cash charge of $42,983,000 included within its provision for income taxes.  This charge relates to the Company's determination that a full valuation allowance against its deferred tax assets generated in the U.S and three of the Company's international subsidiaries was necessary. Accounting rules require a reduction of the carrying amounts of deferred tax assets by a valuation allowance if, based on the available and objectively verifiable evidence, it is more likely than not that such assets will not be realized.  The existence of cumulative losses for a certain threshold period is a significant form of negative evidence used in the assessment. If a cumulative loss threshold is met, the accounting rules indicate that forecasts of future profitability are generally not sufficient positive evidence to overcome the presumption that a valuation allowance is necessary.

17

14. Summary Financial Information

The following information (in thousands) sets forth the condensed consolidating summary financial information of the parent and guarantors, which guarantee the 7 7/8% Senior Subordinated Notes, and the nonguarantors. The guarantors are wholly owned and the guarantees are full, unconditional, joint and several.

						Non
As of September 30, 2012	Parent			Guarantors		Guarantors			Eliminations			Consolidated
Current assets:
Cash and cash equivalents	$	59,593		$	-	$	35,334		$	-		$	94,927
Trade accounts receivable		36,348			5,662		40,923			-			82,933
Inventories		32,913			18,442		60,696			-			112,051
Other current assets		6,746			1,798		5,118			-			13,662
Total current assets		135,600			25,902		142,071			-			303,573
Property, plant, and equipment, net		33,283			12,018		14,541			-			59,842
Goodwill and other intangibles, net		40,919			31,025		47,937			-			119,881
Intercompany		(4,154	)		68,028		(62,359	)		(1,515	)		-
Other assets		5,786			783		26,843			-			33,412
Investment in subsidiaries		203,753			-		-			(203,753	)		-
Total assets	$	415,187		$	137,756	$	169,033		$	(205,268	)	$	516,708
Current liabilities		35,411			13,806		45,093			(1,515	)		92,795
Long-term debt, less current portion		148,276			1,810		1,340			-			151,426
Other non-current liabilities		55,144			6,796		34,191			-			96,131
Total liabilities		238,831			22,412		80,624			(1,515	)		340,352
Shareholders' equity		176,356			115,344		88,409			(203,753	)		176,356
Total liabilities and shareholders' equity	$	415,187		$	137,756	$	169,033		$	(205,268	)	$	516,708

18

For the Three months ended September 30, 2012						Non
	Parent			Guarantors		Guarantors			Eliminations			Consolidated
Net sales	$	57,560		$	39,624	$	63,192		$	(13,904	)	$	146,472
Cost of products sold		40,826			33,243		43,905			(13,904	)		104,070
Gross profit		16,734			6,381		19,287			-			42,402
Selling, general and administrative expenses		9,692			5,102		14,199			-			28,993
Amortization of intangibles		24			-		465			-			489
		9,716			5,102		14,664			-			29,482
Income from operations		7,018			1,279		4,623			-			12,920
Interest and debt expense		2,746			632		127			-			3,505
Other (income) and expense, net		(118	)		5		(252	)		-			(365	)
Income before income tax expense and equity in income of subsidiaries		4,390			642		4,748			-			9,780
Income tax expense		623			-		905			-			1,528
Equity in income from continuing operations of subsidiaries		4,485			-		-			(4,485	)		-
Net income	$	8,252		$	642	$	3,843		$	(4,485	)	$	8,252

For the Six months ended September 30, 2012						Non
	Parent			Guarantors		Guarantors			Eliminations			Consolidated
Net sales	$	116,730		$	83,199	$	127,186		$	(27,630	)	$	299,485
Cost of products sold		84,230			69,836		86,823			(27,630	)		213,259
Gross profit		32,500			13,363		40,363			-			86,226
Selling, general and administrative expenses		20,329			11,131		28,078			-			59,538
Restructuring charges		-			-		-			-			-
Amortization of intangibles		47			-		941			-			988
		20,376			11,131		29,019			-			60,526
Income from operations		12,124			2,232		11,344			-			25,700
Interest and debt expense		6,098			684		222			-			7,004
Other (income) and expense, net		(170	)		16		(1,149	)		-			(1,303	)
Income before income tax expense and equity in income of subsidiaries		6,196			1,532		12,271			-			19,999
Income tax (benefit) expense		(233	)		80		3,464			-			3,311
Equity in income from continuing operations of subsidiaries		10,259			-		-			(10,259	)		-
Net income	$	16,688		$	1,452	$	8,807		$	(10,259	)	$	16,688

19

For the Three Months Ended September 30, 2012					Non
	Parent		Guarantors		Guarantors			Eliminations			Consolidated
Net income	$	8,252	$	642	$	3,843		$	(4,485	)	$	8,252
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		-		-		2,466			-			2,466
Change in derivatives qualifying as hedges, net of deferred tax expense		31		-		(122	)		-			(91	)
Adjustments:
Unrealized holding gain arising during the period, net of deferred tax expense		-		-		521			-			521
Reclassification adjustment for gain included in net income, net of deferred tax expense		-		-		(170	)		-			(170	)
Total adjustments		-		-		351			-			351
Total other comprehensive income		31		-		2,695			-			2,726
Comprehensive income	$	8,283	$	642	$	6,538		$	(4,485	)	$	10,978

For the Six Months Ended September 30, 2012					Non
	Parent		Guarantors		Guarantors			Eliminations			Consolidated
Net income	$	16,688	$	1,452	$	8,807		$	(10,259	)	$	16,688
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		-		-		(2,644	)		-			(2,644	)
Change in derivatives qualifying as hedges, net of deferred tax expense		43		-		(231	)		-			(188	)
Adjustments:		-		-		-			-			-
Unrealized holding gain arising during the period, net of deferred tax expense		-		-		401			-			401
Reclassification adjustment for gain included in net income, net of deferred tax expense		-		-		(253	)		-			(253	)
Total adjustments		-		-		148			-			148
Total other comprehensive income (loss)		43		-		(2,727	)		-			(2,684	)
Comprehensive income	$	16,731	$	1,452	$	6,080		$	(10,259	)	$	14,004

20

For the Six months ended September 30, 2012							Non
	Parent			Guarantors			Guarantors			Eliminations		Consolidated
Operating activities:
Net cash provided by (used for) operating activities	$	6,557		$	(1,276	)	$	2,293		$	-	$	7,574
Investing activities:
Purchase of marketable securities, net		-			-			1,165			-		1,165
Capital expenditures		(3,354	)		(211	)		(515	)		-		(4,080	)
Proceeds from sale of assets		-			1,482			-			-		1,482
Net cash (used for) provided by investing activities		(3,354	)		1,271			650			-		(1,433	)
Financing activities:
Proceeds from stock options exercised		219			-			-			-		219
Net payments under lines-of-credit		-			-			(51	)		-		(51	)
Other		213			-			(393	)		-		(180	)
Net cash provided by (used for) financing activities		432			-			(444	)		-		(12	)
Effect of exchange rate changes on cash		-			-			(675	)		-		(675	)
Net change in cash and cash equivalents		3,635			(5	)		1,824			-		5,454
Cash and cash equivalents at beginning of period		55,958			5			33,510			-		89,473
Cash and cash equivalents at end of period	$	59,593		$	-		$	35,334		$	-	$	94,927

21

						Non
As of March 31, 2012	Parent			Guarantors		Guarantors			Eliminations			Consolidated
Current assets:
Cash and cash equivalents	$	55,958		$	5	$	33,510		$	-		$	89,473
Trade accounts receivable		44,375			5,579		38,688			-			88,642
Inventories		29,161			20,087		61,347			(2,540	)		108,055
Prepaid expenses		5,398			502		4,004			545			10,449
Total current assets		134,892			26,173		137,549			(1,995	)		296,619
Property, plant, and equipment, net		32,679			13,050		15,980			-			61,709
Goodwill and other intangibles, net		40,906			31,025		50,295			-			122,226
Intercompany		(41,502	)		102,471		(61,149	)		180			-
Other non-current assets		6,449			784		27,620			-			34,853
Investment in subsidiaries		228,138			-		-			(228,138	)		-
Total assets	$	401,562		$	173,503	$	170,295		$	(229,953	)	$	515,407
		-			-		-			-			-
Current liabilities	$	37,480		$	18,772	$	49,472		$	(1,815	)	$	103,909
Long-term debt, less current portion		148,140			1,961		1,788			-			151,889
Other non-current liabilities		55,476			6,842		36,825			-			99,143
Total liabilities		241,096			27,575		88,085			(1,815	)		354,941
Shareholders' equity		160,466			145,928		82,210			(228,138	)		160,466
Total liabilities and shareholders' equity	$	401,562		$	173,503	$	170,295		$	(229,953	)	$	515,407

For the Three months ended September 30, 2011						Non
	Parent			Guarantors		Guarantors			Eliminations			Consolidated
Net sales	$	55,119		$	44,889	$	65,034		$	(15,179	)	$	149,863
Cost of products sold		40,415			39,705		45,691			(15,179	)		110,632
Gross profit		14,704			5,184		19,343			-			39,231
Selling, general and administrative expenses		9,420			3,352		13,636			-			26,408
Amortization of intangibles		27			-		482			-			509
		9,447			3,352		14,118			-			26,917
Income from operations		5,257			1,832		5,225			-			12,314
Interest and debt expense		3,398			65		94			-			3,557
Other (income) and expense, net		(254	)		11		(144	)		-			(387	)
Income before income tax expense and equity in income of subsidiaries		2,113			1,756		5,275			-			9,144
Income tax expense		1,229			200		1,448			-			2,877
Equity in income from continuing operations of subsidiaries		5,383			-		-			(5,383	)		-
Gain from discontinued operations		409			-		-			-			409
Net income	$	6,676		$	1,556	$	3,827		$	(5,383	)	$	6,676

22

For the Six months ended September 30, 2011						Non
	Parent			Guarantors		Guarantors			Eliminations			Consolidated
Net sales	$	103,541		$	86,860	$	126,371		$	(27,149	)	$	289,623
Cost of products sold		77,803			75,418		88,678			(27,149	)		214,750
Gross profit		25,738			11,442		37,693			-			74,873
Selling, general and administrative expenses		16,793			9,752		27,341			-			53,886
Restructuring charges		12			-		418			-			430
Amortization of intangibles		54			-		976			-			1,030
		16,859			10,686		28,735			-			55,346
Income from operations		8,879			1,690		8,958			-			19,527
Interest and debt expense		6,478			406		177			-			7,061
Other (income) and expense, net		(406	)		18		(424	)		-			(812	)
Income from continuing operations before income tax expense and equity in income of subsidiaries		2,807			1,266		9,205			-			13,278
Income tax expense		1,364			169		2,699			-			4,232
Equity in income from continuing operations of subsidiaries		7,603			-		-			(7,603	)		-
Income from continuing operations		9,046			1,097		6,506			(7,603	)		9,046
Gain from discontinued operations		409			-		-			-			409
Net income	$	9,455		$	1,097	$	6,506		$	(7,603	)	$	9,455

For the Three Months Ended September 30, 2011					Non
	Parent		Guarantors		Guarantors			Eliminations			Consolidated
Net income	$	6,676	$	1,556	$	3,827		$	(5,383	)	$	6,676
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		-		-		(6,579	)		-			(6,579	)
Change in derivatives qualifying as hedges, net of deferred tax expense		65		-		-			-			65
Adjustments:
Unrealized holding loss arising during the period, net of deferred tax expense		-		-		(655	)		-			(655	)
Reclassification adjustment for gain included in net income, net of deferred tax expense		-		-		68			-			68
Total adjustments		-		-		(587	)		-			(587	)
Total other comprehensive income (loss)		65		-		(7,166	)		-			(7,101	)
Comprehensive income (loss)	$	6,741	$	1,556	$	(3,339	)	$	(5,383	)	$	(425	)

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For the Six Months Ended September 30, 2011					Non
	Parent		Guarantors		Guarantors			Eliminations			Consolidated
Net income	$	9,455	$	1,097	$	6,506		$	(7,603	)	$	9,455
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		-		-		(4,450	)		-			(4,450	)
Change in derivatives qualifying as hedges, net of deferred tax expense		72		-		-			-			72
Adjustments:
Unrealized holding loss arising during the period, net of deferred tax expense		-		-		(412	)		-			(412	)
Reclassification adjustment for gain included in net income, net of deferred tax expense		-		-		125			-			125
Total adjustments		-		-		(287	)		-			(287	)
Total other comprehensive income (loss)		72		-		(4,737	)		-			(4,665	)
Comprehensive income	$	9,527	$	1,097	$	1,769		$	(7,603	)	$	4,790

For the Six months ended September 30, 2011							Non
	Parent			Guarantors			Guarantors			Eliminations		Consolidated
Operating activities:
Net cash provided by (used for) operating activities	$	5,597		$	569		$	(1,748	)	$	-	$	4,418
Investing activities:
Purchase of marketable securities, net		-			-			440			-		440
Capital expenditures		(6,006	)		(454	)		(765	)		-		(7,225	)
Net cash provided by investing activities from discontinued operations		409			-			-			-		409
Net cash used for investing activities		(5,597	)		(454	)		(325	)		-		(6,376	)
Financing activities:
Proceeds from stock options exercised		1,733			-			-			-		1,733
Net payments under lines-of-credit		-			-			(202	)		-		(202	)
Other		217			(116	)		(343	)		-		(242	)
Net cash provided by (used for) financing activities		1,950			(116	)		(545	)		-		1,289
Effect of exchange rate changes on cash		-			-			(724	)		-		(724	)
Net change in cash and cash equivalents		1,950			(1	)		(3,342	)		-		(1,393	)
Cash and cash equivalents at beginning of period		45,954			7			34,178			-		80,139
Cash and cash equivalents at end of period	$	47,904		$	6		$	30,836		$	-	$	78,746

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15. Effects of New Accounting Pronouncements

In July 2012, the FASB issued ASU No. 2012-02, which updated the guidance in ASC Topic 350, Intangibles – Goodwill and Other. The amendments in this Update will allow an entity to first assess qualitative factors to determine whether it is necessary to perform a quantitative impairment test. Under these amendments, an entity would not be required to calculate the fair value of an indefinite-lived intangible asset unless the entity determines, based on qualitative assessment, that it is not more likely than not, the indefinite-lived intangible asset is impaired. The amendments include a number of events and circumstances for an entity to consider in conducting the qualitative assessment. The amendments are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted. The amendments are not expected to have an impact on our financial condition or results of operations.

In June 2011, the FASB issued ASU No. 2011-05, Presentation of Comprehensive Income ("ASU 2011-05"), effective for fiscal years, and interim periods within those years, beginning after December 15, 2011.  The issuance of ASU 2011-5 is intended to improve the comparability, consistency and transparency of financial reporting and to increase the prominence of items reported in other comprehensive income.  The guidance in ASU 2011-5 supersedes the presentation options in ASC Topic 220 and facilitates convergence of U.S. generally accepted accounting principles and International Financial Reporting Standards by eliminating the option to present components of other comprehensive income as part of the statement of changes in stockholders' equity and requiring that all nonowner changes in stockholders' equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements.  The adoption of ASU 2011-05 in fiscal 2013 did not have a significant impact on the Company's condensed consolidated financial statements.

In May 2011 the FASB issued ASU No. 2011-04, Fair Value Measurements (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in US GAAP and International Financial Reporting Standards ("IFRS") ("ASU 2011-04").  ASU 2011-04 represents the converged guidance of the FASB and the International Accounting Standards Board (the "Boards") on fair value measurements.  The collective efforts of the Boards and their staffs, reflected in ASU 2011-04, have resulted in common requirements for measuring fair value and for disclosing information about fair value measurements, including a consistent meaning of the term "fair value." The Boards have concluded the common requirements will result in greater comparability of fair value measurements presented and disclosed in financial statements prepared in accordance with GAAP and IFRS.  The amendments in this ASU are required to be applied prospectively, and are effective for interim and annual periods beginning after December 15, 2011.  The adoption of ASU 2011-04 in fiscal 2013 did not have a significant impact on the Company's condensed consolidated financial statements.

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Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION

Executive Overview

We are a leading worldwide designer, manufacturer and marketer of material handling products, systems and services which efficiently and safely move, lift, position and secure material. Key products include hoists, actuators, cranes and rigging tools. The Company is focused on serving commercial and industrial applications that require the safety and quality provided by the Company's superior design and engineering know-how.

Founded in 1875, we have grown to our current size and leadership position through organic growth and acquisitions. We developed our leading market position over our 137-year history by emphasizing technological innovation, manufacturing excellence and superior after-sale service. In addition, acquisitions significantly broadened our product lines and services and expanded our geographic reach, end-user markets and customer base. Ongoing initiatives include improving our productivity and increasing penetration of the Asian, Latin American and European marketplaces. In accordance with our strategy, we have been investing in our sales and marketing activities, new product development and "Lean" efforts across the Company. Shareholder value will be enhanced through continued emphasis on improvement of the fundamentals including market expansion, a high degree of customer satisfaction, new product development, manufacturing efficiency, cost containment, and efficient capital investment.

Over the course of our history, we have managed through many business cycles and our solid cash flow profile has helped us grow and expand globally. We stand with a capital structure which includes sufficient cash reserves, significant revolver availability with an expiration of October 31, 2017, fixed-rate long-term debt which expires in 2019 and a solid cash flow business profile.

Additionally our revenue base is now more geographically diverse than at any time in our Company's history, with approximately 43% derived from customers outside the U.S. for the six months ended September 30, 2012. We believe this will help balance the impact of changes that will occur in local economies as well as benefit the Company from growth in emerging markets.  As in the past, we monitor both U.S. and Eurozone Industrial Capacity Utilization statistics as indicators of anticipated demand for our product. Since their June 2009 trough, these statistics have improved over the last several years but have recently declined in the Eurozone.  In addition, we continue to monitor the potential impact of other global and U.S. trends including industrial production, energy costs, steel price fluctuations, interest rates, foreign currency exchange rates and activity of end-user markets around the globe.

From a strategic perspective, we are investing in global markets and new products as we focus on our greatest opportunities for growth. We maintain a strong North American market share with significant leading market positions in hoists, lifting and sling chain, forged attachments and actuators. We seek to maintain and enhance our market share by focusing our sales and marketing activities toward select North American and global market sectors including energy, construction, entertainment, mining and food processing.

Regardless of the economic climate and point in the economic cycle, we constantly explore ways to increase our operating margins as well as further improve our productivity and competitiveness. We have specific initiatives related to improved customer satisfaction, reduction of defects, shortened lead times, improved inventory turns and on-time deliveries, reduction of warranty costs, and improved working capital utilization. The initiatives are being driven by the continued implementation of our "Lean" efforts which are fundamentally changing our manufacturing and business processes to be more responsive to customer demand and improving on-time delivery and productivity. In addition to "Lean," we are working to achieve these strategic initiatives through product simplification, the creation of centers of excellence, and improved supply chain management.

We continuously monitor market prices of steel. We purchase approximately $30,000,000 to $40,000,000 of steel annually in a variety of forms including rod, wire, bar, structural and others. Generally, as we experience fluctuations in our costs, we reflect them as price increases or surcharges to our customers with the goal of being margin neutral. Some of our steel costs have increased during this year as a result of higher scrap and alloy surcharges.

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We are also looking for opportunities for growth via strategic acquisitions or joint ventures. The focus of our acquisition strategy centers on opportunities for non-U.S. market penetration and product line expansion in alignment with our existing core product offering.

We operate in a highly competitive and global business environment. We face a variety of opportunities in those markets and geographies, including trends toward increased utilization of the global labor force and the expansion of market opportunities in Asia and other emerging markets. While we continue to execute our long-term growth strategy, we are supported by our solid capital structure, including our cash position and flexible cost base. We are also aggressively addressing costs and restructuring opportunities to enhance future margin opportunities.

Results of Operations

Three and Six Months Ended September 30, 2012 and September 30, 2011

Net sales in the fiscal 2013 quarter ended September 30, 2012 were $146,472,000, down $3,391,000 or 2.3% from the fiscal 2012 quarter ended September 30, 2011 net sales of $149,863,000. Net sales for the six month period ended September 30, 2012 were $299,485,000, up $9,862,000 or 3.4% from the six months ended September 30, 2011 net sales of $289,623,000.  For the three months ended September 30, 2012 net sales were positively impacted $3,931,000 by volume and mix of products sold and $4,422,000 by price increases. Sales for the quarter were negatively impacted by $2,342,000 due to fewer shipping days, $2,227,000 due to net acquisition and divestiture activity, and $7,175,000 due to foreign currency translation.  For the six months ended September 30, 2012 net sales were positively impacted $18,821,000 by volume and mix of products sold and $9,138,000 by price increases.  Net sales were negatively impacted $2,342,000 by fewer shipping days, $1,379,000 by net acquisition and divestiture activity, and $14,376,000 by the impact of currency translation.

Gross profit in the fiscal 2013 quarter ended September 30, 2012 was $42,402,000, an increase of $3,171,000 or 8.1% from the fiscal 2012 quarter ended September 30, 2011 gross profit of $39,231,000. Gross profit margin increased to 28.9% in the fiscal 2013 quarter from 26.2% in the fiscal 2012 quarter. Gross profit in the six month period ended September 30, 2012 was $86,226,000, up $11,353,000 or 15.2% from the six month period ended September 30, 2011 gross profit of $74,873,000. Gross profit margin for the six month period ending September 30, 2012 increased to 28.8% compared to 25.9% for the six month period ending September 30, 2011.

For the quarter ended September 30, 2012 the increase in gross profit margin was due to $4,422,000 in price increases, $1,601,000 in increased productivity, $870,000 lower product liability expense, and $195,000 from net acquisition and divestiture activity, offset by material inflation of $1,692,000 and an unfavorable sales mix of $98,000. The translation of foreign currencies had a $2,127,000 negative impact on gross profit in the fiscal 2013 quarter.  For the six months ended September 30, 2012 the increase in gross profit margin was due to $9,138,000 in price increases, $4,782,000 in increased productivity, $3,812,000 in increased volume and the impact of product sales mix, $1,034,000 from net acquisition and divestiture activity and $870,000 lower product liability expense offset by material inflation of $3,748,000. The translation of foreign currencies had a $4,535,000 negative impact on gross profit in fiscal 2013.

Selling expenses were $16,447,000 and $15,509,000 for the three months ended September 30, 2012 and 2011, respectively. Selling expenses were $32,814,000 and $31,535,000 for the six months ended September 30, 2012 and 2011, respectively. For the three and six months ended September 30, 2012 the increase was consistent with the overall increase in sales volume along with increased selling costs in developing new markets. Additionally, foreign currency translation had a $1,139,000 and $2,149,000 positive impact on selling expenses for the three and six months ended September 30, 2012, respectively.  As a percentage of consolidated net sales, selling expenses were 11.2% and 10.3% for the three months ended September 30, 2012 and 2011, respectively and 11.0% and 10.9% for the six month periods then ended, respectively.

General and administrative expenses were $12,546,000 and $10,899,000 for the three month periods ended September 30, 2012 and 2011, respectively. General and administrative expenses were $26,724,000 and $22,351,000 for the six months ended September 30, 2012 and 2011, respectively.  For the three and six months ended September 30, 2012 the increase in general and administrative expenses was primarily the result of investments in the Company's ERP system implementation, increased benefit costs including pension, group health, and relocation, as well as general inflationary increases. Foreign currency translation had a $513,000 and $1,032,000 favorable impact on general and administrative expense for the three and six month periods ended September 30, 2012. As a percentage of consolidated net sales, general and administrative expenses were 8.6% and 7.3% for the three month periods ended September 30, 2012 and 2011, respectively and 8.9% and 7.7% for the six month periods then ended, respectively.

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The Company did not incur any restructuring costs during the three and six months ended September 30, 2012.  The Company incurred $430,000 in restructuring costs for the six months ended September 30, 2011 primarily related to workforce reductions at one of its European facilities.

There were no significant changes in amortization of intangibles for the three and six months ended September 30, 2012 compared to the three and six months ended September 30, 2011 other than the impact of foreign currency translation.  Amortization of intangibles was $489,000 and $509,000 for the three months ended September 30, 2012 and 2011, respectively and $988,000 and $1,030,000 for the six month periods then ended, respectively.

Interest and debt expense was $3,505,000 and $3,557,000 for the three months ended September 30, 2012 and 2011, respectively and $7,004,000 and $7,061,000 for the six month periods then ended, respectively.

Income tax expense as a percentage of income from continuing operations before income tax expense was 16% and 31% for the three month periods ended September 30, 2012 and 2011, respectively and 17% and 32% for the six-month periods then ended, respectively. These percentages vary from the U.S. statutory rate primarily due to varying effective tax rates at the Company's foreign subsidiaries, and the jurisdictional mix of taxable income for these subsidiaries. We estimate that the effective tax rate related to continuing operations will be approximately 15% to 20% for fiscal 2013 based on the forecasted jurisdictional mix of taxable income. This percentage could change if conditions are met to reverse the deferred tax asset valuation allowance. See additional discussion below related to the deferred tax asset valuation allowance.

Liquidity and Capital Resources

Cash and cash equivalents totaled $94,927,000 at September 30, 2012, an increase of $5,454,000 from the March 31, 2012 balance of $89,473,000.

Cash flow provided by operating activities

Net cash provided by operating activities was $7,574,000 for the six months ended September 30, 2012 compared with net cash provided by operating activities of $4,418,000 for the six months ended September 30, 2011. The net cash provided by operating activities for the six months ended September 30, 2012 consisted of $16,688,000 in net income, which was largely due to higher gross profit offset by higher selling, general, and administrative expenses, reduced by an increase in inventories and prepaid expenses of $7,231,000 and $3,477,000 respectively and a decrease in trade accounts payable and accrued and non-current liabilities of $6,002,000 and $5,369,000 respectively. The increase in inventory levels was due to anticipated continued growth in sales volume on a year over year basis. The reduction in accrued and non-current liabilities was due to payment of the annual incentive compensation as well as sales rebates earned in fiscal year 2012 and paid in fiscal 2013 along with a net decrease in customer deposits. The increase in prepaid expenses was due to the timing of insurance renewals.

Net cash provided for operating activities was $4,418,000 for the six months ended September 30, 2011. The net cash provided by operating activities for the six months ended September 30, 2011 was primarily the result of net income from continuing operations of $9,046,000 offset largely by an increase in inventories and accounts receivable of $6,037,000 and $3,421,000 respectively and a decrease in accrued and non-current liabilities of $4,470,000. The increase in inventory was primarily to meet increasing sales volume and expected future customer demand.

Cash flow provided by investing activities

Net cash used by investing activities was $1,433,000 for the six months ended September 30, 2012 compared with net cash used by investing activities of $6,376,000 for the six months ended September 30, 2011. The net cash used by investing activities for the six months ended September 30, 2012 primarily consisted of $4,080,000 in capital expenditures (of which $1,455,000 relates to implementation of our global ERP system) partially offset by $1,482,000 in proceeds from the sale of assets.

Net cash used by investing activities was $6,376,000 for the six months ended September 30, 2011. The net cash used by investing activities for the six months ended September 30, 2011 was primarily the result of $7,225,000 in capital expenditures (of which $3,167,000 related to implementation of our global ERP system).

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Cash flow provided by financing activities

Net cash used by financing activities was $12,000 for the six months ended September 30, 2012 compared with net cash provided by financing activities of $1,289,000 for the six months ended September 30, 2011. The net cash provided by financing activities for the six months ended September 30, 2011 consisted of $1,733,000 of proceeds from exercises of stock options.

We believe that our cash on hand, cash flows, and borrowing capacity under our Revolving Credit Facility will be sufficient to fund our ongoing operations and budgeted capital expenditures for at least the next twelve months. This belief is dependent upon successful execution of our current business plan and effective working capital utilization. No material restrictions exist in accessing cash held by our non-U.S. subsidiaries.  Additionally we expect to meet our U.S. funding needs without repatriating non-U.S. cash and incurring the incremental U.S. taxes. As of September 30, 2012, $35,066,000 of cash and cash equivalents were held by foreign subsidiaries.

As of September 30, 2012, we had an amended, restated and expanded revolving credit facility dated December 31, 2009 (Revolving Credit Facility). The Revolving Credit Facility provided availability up to a maximum of $85,000,000.

The unused portion of the Revolving Credit Facility totalled $72,593,000, net of outstanding borrowings of $0 and outstanding letters of credit of $12,407,000, as of September 30, 2012. The outstanding letters of credit at September 30, 2012 consisted of $2,977,000 in commercial letters of credit and $9,430,000 of standby letters of credit.

The corresponding credit agreement associated with the Revolving Credit Facility placed certain debt covenant restrictions on us, including certain financial requirements and restrictions on dividend payments, with which we are in compliance as of September 30, 2012.

Subsequent to the quarter end, the Company entered into a fifth amended, restated and expanded revolving credit facility which closed on October 19, 2012 (New Revolving Credit Facility). The New Revolving Credit Facility provides availability up to a maximum of $100,000,000 and expires October 31, 2017.

Provided there is no default, the Company may request an increase in the availability of the New Revolving Credit Facility by an amount not exceeding $75,000,000, subject to lender approval. Interest on the New Revolving Credit Facility is payable at varying Eurodollar rates based on LIBOR or a Base Rate plus a spread determined by the Company's total leverage ratio, amounting to 125 or 25 basis points at closing.  The New Revolving Credit Facility is secured by all U.S. inventory, receivables, equipment, real property, subsidiary stock (limited to 65% of non-U.S. subsidiaries) and intellectual property.

The corresponding credit agreement associated with the New Revolving Credit Facility places certain debt covenant restrictions on the Company, including certain financial requirements and restrictions on dividend payments.  Key financial covenants include a minimum fixed charge coverage ratio of 1.25x, a maximum total leverage ratio, net of cash, of 3.50x and maximum annual capital expenditures of $30,000,000.

During the fourth quarter of fiscal year 2011, the Company refinanced its 8 7/8% Notes through the issuance of $150,000,000 principal amount of 7 7/8% Senior Subordinated Notes due 2019 in a private placement pursuant to Rule 144A under the Securities Act of 1933, as amended ("Unregistered 7 7/8% Notes").  The proceeds from the sale of the Unregistered 7 7/8% Notes were used to repurchase or redeem all of the outstanding 8 7/8% Notes amounting to $124,855,000 and to fund working capital and other corporate activities.  The offering price of the Unregistered 7 7/8% Notes was 98.545% after adjustment for the original issue discount.  Provisions of the Unregistered 7 7/8% Notes include, without limitation, restrictions on indebtedness, asset sales, and dividends and other restrictive payments.  Until February 1, 2014, the Company may redeem up to 35% of the outstanding Unregistered 7 7/8% Notes at a redemption price of 107.875% with the proceeds of equity offerings, subject to certain restrictions.    On or after February 1, 2015, the Unregistered 7 7/8% Notes are redeemable at the option of the Company, in whole or in part, at a redemption price of 103.938%, reducing to 100% on February 1, 2017. In the event of a Change of Control (as defined in the indenture for such notes), each holder of the Unregistered 7 7/8% Notes may require us to repurchase all or a portion of such holder's Unregistered 7 7/8% Notes at a purchase price equal to 101% of the principal amount thereof. The Unregistered 7 7/8% Notes are guaranteed by certain existing and future U.S. subsidiaries and are not subject to any sinking fund requirements.

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During the first quarter of fiscal year 2012, the Company exchanged its $150,000,000 outstanding Unregistered   7 7/8% Notes for a like principal amount of 7 7/8% Senior Subordinated Notes due 2019 registered under the Securities Act of 1933, as amended ("7 7/8% Notes").  All of the Unregistered 7 7/8% Notes were exchanged in the transaction.  The 7 7/8% Notes contain identical terms and provisions as the Unregistered 7 7/8% Notes.

Our capital lease obligations related to property and equipment leases amounted to $4,212,000 at September 30, 2012. Capital lease obligations are included in senior debt in the consolidated balance sheets.

Unsecured and uncommitted lines of credit are available to meet short-term working capital needs for certain of our subsidiaries operating outside of the U.S. The lines of credit are available on an offering basis, meaning that transactions under the line of credit will be on such terms and conditions, including interest rate, maturity, representations, covenants and events of default, as mutually agreed between our subsidiaries and the local bank at the time of each specific transaction. As of September 30, 2012, significant unsecured credit lines totalled approximately $8,948,000, of which $0 was drawn. In addition to the above facilities, one of our foreign subsidiaries has a credit line secured by a parent company guarantee. This credit line provides availability of up to $955,000, of which $0 was drawn as of September 30, 2012.

Capital Expenditures

In addition to keeping our current equipment and plants properly maintained, we are committed to replacing, enhancing and upgrading our property, plant and equipment to support new product development, improve productivity and customer responsiveness, reduce production costs, increase flexibility to respond effectively to market fluctuations and changes, meet environmental requirements, enhance safety and promote ergonomically correct work stations. Consolidated capital expenditures for the six months ended September 30, 2012 and September 30, 2011 were $4,080,000 and $7,225,000, respectively. We expect capital spending for fiscal 2013 to be approximately $12,000,000 to $15,000,000 compared with $13,765,000 in fiscal 2012.

Inflation and Other Market Conditions

Our costs are affected by inflation in the U.S. economy and, to a lesser extent, in non-U.S. economies including those of Europe, Canada, Mexico, South America, and Asia Pacific. We have been impacted by fluctuations in steel costs, which vary by type of steel and we continue to monitor them and address our pricing policies accordingly. In addition, U.S. employee benefits costs such as health insurance and pension, as well as energy costs have exceeded general inflation levels. Otherwise, we do not believe that general inflation has had a material effect on results of operations over the periods presented primarily due to overall low inflation levels over such periods and our ability to generally pass on rising costs through price increases or surcharges.  In the future, we may be further affected by inflation that we may not be able to offset with price increases or surcharges. Additionally, we are impacted by fluctuations in currency exchange rates which are primarily translational, but transactional fluctuations could also impact our financial results.

Goodwill Impairment Testing

We test goodwill for impairment at least annually and more frequently whenever events occur or circumstances change that indicate there may be impairment.  These events or circumstances could include a significant long-term adverse change in the business climate, poor indicators of operating performance, or a sale or disposition of a significant portion of a reporting unit.

We test goodwill at the reporting unit level, which is one level below our operating segment.  We identify our reporting units by assessing whether the components of our operating segment constitute businesses for which discrete financial information is available and segment management regularly reviews the operating results of those components.  We also aggregate components that have similar economic characteristics into single reporting units (for example, similar products and / or services, similar long-term financial results, product processes, classes of customers, etc.). We have four reporting units, only two of which have goodwill. Our Duff Norton reporting unit and Rest of Products reporting unit had goodwill totalling $9,774,000 and $95,785,000 at September 30, 2012, respectively.

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When we evaluate the potential for goodwill impairment, we assess a range of qualitative factors including, but not limited to, macroeconomic conditions, industry conditions, the competitive environment, changes in the market for our products and services, regulatory and political developments, entity specific factors such as strategy and changes in key personnel and overall financial performance. If, after completing this assessment, it is determined that it is more likely than not that the fair value of a reporting unit is less than its carrying value, we proceed to a two-step impairment test.

In order to perform the two-step impairment test, we use the discounted cash flow method to estimate the fair value of each of our reporting units. The discounted cash flow method incorporates various assumptions, the most significant being projected revenue growth rates, operating profit margins and cash flows, the terminal growth rate and the discount rate. Management projects revenue growth rates, operating margins and cash flows based on each reporting unit's current business, expected developments and operational strategies over a five-year period. In estimating the terminal growth rate, we consider our historical and projected results, as well as the economic environment in which our reporting units operate. The discount rates utilized for each reporting unit reflect management's assumptions of marketplace participants' cost of capital and risk assumptions, both specific to the reporting unit and overall in the economy.

We currently do not believe that it is more likely than not that the fair value of each of our reporting units is less than that its applicable carrying value. Additionally, we currently do not believe that we have any significant impairment indicators or that any of our reporting units with goodwill are at risk of failing Step One of the goodwill impairment test. However if the projected long-term revenue growth rates, profit margins, or terminal rates are significantly lower, and/or the estimated weighted-average cost of capital is considerably higher, future testing may indicate impairment of one or more of the Company's reporting units and, as a result, the related goodwill may be impaired.

Deferred Tax Asset Valuation Allowance

During the fiscal year ended March 31, 2011, the Company recorded a non-cash charge of $42,983,000 included within its provision for income taxes. The balance of the valuation allowance at March 31, 2012 was $53,325,000. This charge related to the Company's determination that a full valuation allowance against its deferred tax assets generated in the U.S. was necessary. The deferred tax assets relate principally to liabilities related to employee benefit plans, insurance reserves, U.S. tax credits, and U.S. net operating loss carryforwards. The U.S. net operating loss carryforwards have been generated primarily as a result of restructuring costs in fiscal years 2010 and 2011. Accounting rules require a reduction of the carrying amounts of deferred tax assets by a valuation allowance if, based on the available and objectively verifiable evidence, it is more likely than not that such assets will not be realized. The existence of cumulative losses for a certain threshold period is a significant form of negative evidence used in the assessment. During the third quarter ended December 31, 2010, the Company determined that it would be in a three-year cumulative pretax loss position in the U.S. at March 31, 2011 primarily due to restructuring-related charges incurred in the U.S. to-date in fiscal 2011, despite our expectations of future profitability. If a cumulative loss threshold is met, the accounting rules indicate that forecasts of future profitability are generally not sufficient positive evidence to overcome the presumption that a valuation allowance is necessary.

The recording of this non-cash charge does not impact the Company's ability to realize the economic benefit of its deferred tax assets (including those related to net operating loss carryforwards) amounting to $58,226,000 on a gross basis at March 31, 2012 on future tax returns. In future periods, the allowance could be reduced or reversed based on sufficient objectively verifiable evidence indicating that it is more likely than not that a portion or all of the Company's deferred tax assets will be realized.

The Internal Revenue Code imposes limitations on a corporation's ability to utilize NOLs if it experiences an "ownership change." In general terms, an ownership change may result from transactions increasing the ownership of certain stockholders in the stock of a corporation by more than 50 percentage points over a three year period. If we were to experience an ownership change, utilization of our NOLs would be subject to an annual limitation determined by multiplying the market value of our outstanding shares of stock at the time of the ownership change by the applicable long-term tax-exempt rate. Any unused annual limitation may be carried over to later years within the allowed NOL carryforward period. The amount of the limitation may, under certain circumstances, be increased or decreased by built-in gains or losses held by us at the time of the change that are recognized in the five-year period after the change.

31

Seasonality and Quarterly Results

Quarterly results may be materially affected by the timing of large customer orders, periods of high vacation and holiday concentrations, gains or losses on early retirement of bonds, gains or losses in our portfolio of marketable securities, restructuring charges, favorable or unfavorable foreign currency translation, divestitures and acquisitions. Therefore, the operating results for any particular fiscal quarter are not necessarily indicative of results for any subsequent fiscal quarter or for the full fiscal year.

Effects of New Accounting Pronouncements

In July 2012, the FASB issued ASU No. 2012-02, which updated the guidance in ASC Topic 350, Intangibles – Goodwill and Other. The amendments in this Update will allow an entity to first assess qualitative factors to determine whether it is necessary to perform a quantitative impairment test. Under these amendments, an entity would not be required to calculate the fair value of an indefinite-lived intangible asset unless the entity determines, based on qualitative assessment, that it is not more likely than not, the indefinite-lived intangible asset is impaired. The amendments include a number of events and circumstances for an entity to consider in conducting the qualitative assessment. The amendments are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted. The amendments are not expected to have an impact on our financial condition or results of operations.

In June 2011, the FASB issued ASU No. 2011-05, Presentation of Comprehensive Income ("ASU 2011-05"), effective for fiscal years, and interim periods within those years, beginning after December 15, 2011.  The issuance of ASU 2011-5 is intended to improve the comparability, consistency and transparency of financial reporting and to increase the prominence of items reported in other comprehensive income.  The guidance in ASU 2011-5 supersedes the presentation options in ASC Topic 220 and facilitates convergence of U.S. generally accepted accounting principles and International Financial Reporting Standards by eliminating the option to present components of other comprehensive income as part of the statement of changes in stockholders' equity and requiring that all nonowner changes in stockholders' equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements.  The adoption of ASU 2011-05 in fiscal 2013 did not have a significant impact on the Company's condensed consolidated financial statements.

In May 2011 the FASB issued ASU No. 2011-04, Fair Value Measurements (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in US GAAP and International Financial Reporting Standards ("IFRS") ("ASU 2011-04").  ASU 2011-04 represents the converged guidance of the FASB and the International Accounting Standards Board (the "Boards") on fair value measurements.  The collective efforts of the Boards and their staffs, reflected in ASU 2011-04, have resulted in common requirements for measuring fair value and for disclosing information about fair value measurements, including a consistent meaning of the term "fair value." The Boards have concluded the common requirements will result in greater comparability of fair value measurements presented and disclosed in financial statements prepared in accordance with GAAP and IFRS.  The amendments in this ASU are required to be applied prospectively, and are effective for interim and annual periods beginning after December 15, 2011.  The adoption of ASU 2011-04 in fiscal 2013 did not have a significant impact on the Company's condensed consolidated financial statements.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This report may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from the results expressed or implied by such statements, including general economic and business conditions, conditions affecting the industries served by us and our subsidiaries, conditions affecting our customers and suppliers, competitor responses to our products and services, the overall market acceptance of such products and services, facility consolidations and other restructurings, our asbestos-related liability, the integration of acquisitions and other factors disclosed in our periodic reports filed with the Commission. Consequently such forward-looking statements should be regarded as our current plans, estimates and beliefs. We do not undertake and specifically decline any obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

32

Item 3. Quantitative and Qualitative Disclosures About Market Risk

There have been no material changes in the market risks since the end of Fiscal 2012.

Item 4. Controls and Procedures

As of September 30, 2012, an evaluation was performed under the supervision and with the participation of the Company's management, including the chief executive officer and chief financial officer, of the effectiveness of the design and operation of the Company's disclosure controls and procedures. Based on that evaluation, the Company's management, including the chief executive officer and chief financial officer, concluded that the Company's disclosure controls and procedures were effective as of September 30, 2012, to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is made known to them on a timely basis, and that these disclosure controls and procedures are effective to ensure such information is recorded, processed, summarized and reported within the time periods specified in the Commission's rules and forms.

There have been no changes in the Company's internal control over financial reporting during the most recent quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

33

Part II. Other Information

Item 1. Legal Proceedings – none.

Item 1A. Risk Factors

There have been no material changes from the risk factors as previously disclosed in the Company's Form 10-K for the year ended March 31, 2012.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds – none.

Item 3. Defaults upon Senior Securities – none.

Item 4. Mine Safety Disclosures – Not applicable

Item 5. Other Information – none.

Item 6. Exhibits

Exhibit 31.1	Certification of Chief Executive Officer pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934; as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit 31.2	Certification of Chief Financial Officer pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934; as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit 32	Certification pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
Exhibit 101*	The following financial statements from the Company's Quarterly Report on Form 10-Q for the quarter and six months ended September 30, 2012, formatted in XBRL, as follows:

(i)	Condensed Consolidated Balance Sheets for September 30, 2012 and March 31, 2012;
(ii)	Condensed Consolidated Statements of Operations and Retained Earnings (Accumulated Deficit) for the three and six months ended September 30, 2012 and 2011;
(iii)	Condensed Consolidated Statements of Cash Flows for the six months ended September 30, 2012 and 2011;
(iv)	Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended September 30, 2012 and 2011; and
(v)	Notes to Consolidated Condensed Financial Statements for the six months ended September 30, 2012.

*Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Section 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

34

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	COLUMBUS McKINNON CORPORATION
	(Registrant)
Date: October 25, 2012	/s/   GREGORY P. RUSTOWICZ
	Gregory P. Rustowicz
	Chief Financial Officer
	(Principal Financial Officer)

35

EX-31.1

Exhibit 31.1

CERTIFICATION

I, Timothy T. Tevens, Chief Executive Officer, certify that:

1. I have reviewed this report on Form 10-Q of Columbus McKinnon Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions):

a. all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  October 25, 2012

/s/    Timothy T. Tevens

Timothy T. Tevens

Chief Executive Officer

  (Principal Executive Officer)

EX-31.2

Exhibit 31.2

CERTIFICATION

I, Gregory P. Rustowicz, Chief Financial Officer, certify that:

1. I have reviewed this report on Form 10-Q of Columbus McKinnon Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions):

a. all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  October 25, 2012

/s/   GREGORY P. RUSTOWICZ

Gregory P. Rustowicz

Chief Financial Officer

  (Principal Financial Officer)

EX-32

Exhibit 32

CERTIFICATION

Each of the undersigned hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that the Quarterly Report of Columbus McKinnon Corporation (the "Company") on Form 10-Q for the period ended September 30, 2012, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that information contained in the such Quarterly Report on Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

Dated:  October 25, 2012
	/s/ Timothy T. Tevens
	Timothy T. Tevens
	Chief Executive Officer
	(Principal Executive Officer)

/s/ GREGORY P. RUSTOWICZ

Gregory P. Rustowicz

Chief Financial Officer

  (Principal Financial Officer)

XML

Debt (Narratives) (Details) (USD $)	6 Months Ended		6 Months Ended									6 Months Ended				6 Months Ended
	Sep. 30, 2012 year day	Jun. 30, 2012	Sep. 30, 2012 February One Two Thousand Fourteen [Member]	Sep. 30, 2012 February One Two Thousand Fifteen [Member]	Sep. 30, 2012 February One Two Thousand Sixteen [Member]	Sep. 30, 2012 February One Two Thousand Seventeen [Member]	Sep. 30, 2012 New Debt [Member]	Sep. 30, 2012 Letter of Credit [Member]	Sep. 30, 2012 General Lien Basket [Member]	Sep. 30, 2012 Standby Letters of Credit [Member]	Sep. 30, 2012 Financial Standby Letter of Credit [Member]	Sep. 30, 2012 Maximum [Member]	Dec. 31, 2009 Maximum [Member]	Sep. 30, 2012 Maximum [Member] New Debt [Member]	Sep. 30, 2012 Maximum [Member] General Investments Basket [Member]	Sep. 30, 2012 Minimum [Member]	Sep. 30, 2012 Minimum [Member] General Investments Basket [Member]
Line of Credit Facility [Line Items]
Line Of Credit Facility Maximum Borrowing Capacity							$ 100,000,000,000						$ 85,000,000	$ 75,000,000,000
Line of Credit Facility, Expiration Date	December 31, 2013
Line of Credit Facility, Maximum Borrowing Capacity	65,000,000
Line of Credit, Unused Borrowing Capacity, Amount	72,593,000
Line of Credit Facility, Amount Outstanding	0
Letters of Credit Outstanding, Amount	12,407,000									9,430,000	2,977,000
LIBOR												1.50%				0.50%
Revolving credit facility secured by Non US Subsidiary Stock	65.00%
Fixed Charge Coverage Ratio Minimum	1.25
Maximum total leverage ratio	3.50
Annual capital expenditures, excluding capital expenditures for a global ERP system	18,000,000
Letters of credit issuance period prior to the expiry date of the Revolving Credit Facility	5
Letters of credit issuance period after the expiry date of the Revolving Credit Facility	1
Line of Credit Facility, Remaining Borrowing Capacity								20,000,000	2,500,000						30,000,000		5,000,000
Debt Instrument, Interest Rate, Stated Percentage	7.875%	7.875%
Debt Instrument, Issuance Date	January 25, 2011
New Senior Subordinated note issued	150,000,000
Debt instrument issued at Discount rate percent	98.545%
Redemption of outstanding notes percent maximum			35.00%
Redemption Price Of Outstanding Notes Percent			107.875%	103.938%	101.969%	100.00%
Repurchase of notes at premium, percent	101.00%
Carrying amount of the Company's revolving credit facility	150,000,000
Debt Instrument, Fair Value Disclosure	156,000,000
Unsecured Debt	8,948,000
Line of Credit Facility, Average Outstanding Amount	0
Secured Debt	955,000
Proceeds from Secured Lines of Credit	0
Payments for (Proceeds from) Short-term Investments												$ 30,000,000				$ 20,000,000

XML

Debt footote (details) (2 of 3) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Mar. 31, 2012
Debt Disclosure [Abstract]
Long Term Debt Current	$ 1,062	$ 1,093
Long-term debt, less current portion	$ 151,426	$ 151,889

XML

Summary Financial Information (Statements of Operations and (Accumulated Deficit) Retained Earnings) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Net sales	$ 146,472	$ 149,863	$ 299,485	$ 289,623
Cost of products sold	104,070	110,632	213,259	214,750
Gross Profit	42,402	39,231	86,226	74,873
Selling, general and administrative expenses	28,993	26,408	59,538	53,886
Restructuring charges	0		430	430
Amortization of intangibles	489	509	988	1,030
Total operating expenses	29,482	26,917	60,526	55,346
Operating Income Loss	12,920	12,314	25,700	19,527
Interest and debt expense	3,505	3,557	7,004	7,061
Other (income) and expense, net	(365)	(387)	(1,303)	(812)
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments	9,780	9,144	19,999	13,278
Income Tax Expense Benefit	1,528	2,877	3,311	4,232
Income from discontinued operations		409	0	409
Equity in income from continuing operations of subsidiaries			0	0
Net income (loss)	8,252	6,676	16,688	9,455
Parent Company [Member]
Net sales	57,560	55,119	116,730	103,541
Cost of products sold	40,826	40,415	84,230	77,803
Gross Profit	16,734	14,704	32,500	25,738
Selling, general and administrative expenses	9,692	9,420	20,329	16,793
Restructuring charges	0			12
Amortization of intangibles	24	27	47	54
Total operating expenses	9,716	9,447	20,376	16,859
Operating Income Loss	7,018	5,257	12,124	8,879
Interest and debt expense	2,746	3,398	6,098	6,478
Other (income) and expense, net	(118)	(254)	(170)	(406)
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments	4,390	2,113	6,196	2,807
Income Tax Expense Benefit	623	1,229	(233)	1,364
Income from discontinued operations				409
Equity in income from continuing operations of subsidiaries	4,485	5,383	10,259	7,603
Net income (loss)	8,252	6,676	16,688	9,455
Guarantor Subsidiaries [Member]
Net sales	39,624	44,889	83,199	86,860
Cost of products sold	33,243	39,705	69,836	75,418
Gross Profit	6,381	5,184	13,363	11,442
Selling, general and administrative expenses	5,102	3,352	11,131	9,752
Restructuring charges				0
Amortization of intangibles				0
Total operating expenses	5,102	3,352	11,131	10,686
Operating Income Loss	1,279	1,832	2,232	1,690
Interest and debt expense	632	65	684	406
Other (income) and expense, net	5	11	16	18
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments	642	1,756	1,532	1,266
Income Tax Expense Benefit	0	200	80	169
Equity in income from continuing operations of subsidiaries				0
Net income (loss)	642	1,556	1,452	1,097
Non-Guarantor Subsidiaries [Member]
Net sales	63,192	65,034	127,186	126,371
Cost of products sold	43,905	45,691	86,823	88,678
Gross Profit	19,287	19,343	40,363	37,693
Selling, general and administrative expenses	14,199	13,636	28,078	27,341
Restructuring charges	0			418
Amortization of intangibles	465	482	941	976
Total operating expenses	14,664	14,118	29,019	28,735
Operating Income Loss	4,623	5,225	11,344	8,958
Interest and debt expense	127	94	222	177
Other (income) and expense, net	(252)	(144)	(1,149)	(424)
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments	4,748	5,275	12,271	9,205
Income Tax Expense Benefit	905	1,448	3,464	2,699
Equity in income from continuing operations of subsidiaries				0
Net income (loss)	3,843	3,827	8,807	6,506
Consolidation, Eliminations [Member]
Net sales	(13,904)	(15,179)	(27,630)	(27,149)
Cost of products sold	(13,904)	(15,179)	(27,630)	(27,149)
Gross Profit		0	0	0
Selling, general and administrative expenses				0
Restructuring charges				0
Amortization of intangibles			0	0
Total operating expenses			0	0
Operating Income Loss		0		0
Interest and debt expense				0
Other (income) and expense, net			0	0
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments		0	0	0
Income Tax Expense Benefit		0	0	0
Equity in income from continuing operations of subsidiaries	(4,485)	(5,383)	(10,259)	(7,603)
Net income (loss)	$ (4,485)	$ (5,383)	$ (10,259)	$ (7,603)

XML

Income Taxes (Narratives) (Details) (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Mar. 31, 2012
Income Tax [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	16.00%	31.00%	17.00%	32.00%
Deferred Tax Assets, Valuation Allowance					$ 42,983,000
Maximum [Member] | Scenario, Forecast [Member]
Income Tax [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate			20.00%
Minimum [Member] | Scenario, Forecast [Member]
Income Tax [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate			15.00%

XML

Marketable Securities (Summary of available-for-sale securities ) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Mar. 31, 2012
Schedule of Available-for-sale Securities [Line Items]
Securities in a continuous loss position for less than 12 months	$ 0
Securities in a continuous loss position for more than 12 months	1,048
Aggregate fair value	1,048
Securities in a continuous loss position for less than 12 months	0
Securities in a continuous loss position for more than 12 months	62
Unrealized losses	62
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost	22,153	23,183
Gross Unrealized Gains	2,538	2,249
Gross Unrealized Losses	62	39
Estimated fair value	$ 24,629	$ 25,393

XML

Derivative Instruments (Tables)

3 Months Ended

6 Months Ended

Sep. 30, 2012

Sep. 30, 2012

Derivative Instruments and Hedges, Assets [Abstract]

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Text Block]

September 30,	Derivatives Designated as Cash Flow Hedges		Gain/(Loss) Recognized (1)	Location of Gain/(Loss) Recognized in Income on Derivatives		Gain/(Loss) Reclassified (2)
2012	Foreign exchange contracts	$	(68)	Cost of products sold	$	24
2011	Foreign exchange contracts	$	-	Cost of products sold	$	(5)
(1) Recognized in Other Comprehensive Loss (AOCL) on Derivatives (Effective Portion)
(2) Reclassified from AOCL into Income (Effective Portion)

September 30,	Derivatives Designated as Cash Flow Hedges		(Loss)/Gain Recognized (3)	Location of Gain/(Loss) Recognized in Income on Derivatives		Gain Reclassified (4)
2012	Foreign exchange contracts	$	(73)	Cost of products sold	$	116
2011	Foreign exchange contracts	$	135	Cost of products sold	$	63
(3) Recognized in AOCL on Derivatives (Effective Portion)
(4) Reclassified from AOCL into Income (Effective Portion)

September 30,	Derivatives Not Designated as Hedging Instruments	Location of Gain Recognized in Income on Derivatives		Gain Recognized in Income on Derivatives
2012	Foreign exchange contracts	Foreign currency exchange gain	$	534
2011	Foreign exchange contracts	Foreign currency exchange gain	$	988

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Text Block]

September 30,	Derivatives Not Designated as Hedging Instruments	Location of Gain Recognized in Income on Derivatives		Gain Recognized in Income on Derivatives
2012	Foreign exchange contracts	Foreign currency exchange gain (loss)	$	(77)
2011	Foreign exchange contracts	Foreign currency exchange gain	$	837

Derivatives Designated as Hedging Instruments	Balance Sheet Location		Fair Value of Asset (Liability)
Foreign exchange contracts	Other Assets	$	69
Foreign exchange contracts	Accrued Liabilities	$	(247)
Derivatives Not Designated as Hedging Instruments	Balance Sheet Location		Fair Value of Asset (Liability)
Foreign exchange contracts	Other Assets	$	59
Foreign exchange contracts	Accrued Liabilities	$	(12)

XML

Summary Financial Information (OCI Statement) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Net income (loss)	$ 8,252	$ 6,676	$ 16,688	$ 9,455
Change in derivatives qualifying as hedges, net of deferred tax expense of $(3), $17, $(3), and $154	(91)	65	188	72
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent [Abstract]
Foreign currency translation adjustments	2,466	(6,579)	2,644	(4,450)
Adjustments [Abstract]
Unrealized holding gain (loss) arising during the period, net of deferred taxes of $0 for all periods	521	(655)	(401)	(412)
Reclassification adjustment for gain included in net income, net of deferred tax expense of $0 for all periods	(170)	68	(253)	125
Total Adjustments	351	(587)	148	(287)
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent	2,726	(7,101)	2,684	(4,665)
Comprehensive Income Net Of Tax	10,978	(425)	(14,004)	4,790
Parent Company [Member]
Net income (loss)	8,252	6,676	16,688	9,455
Change in derivatives qualifying as hedges, net of deferred tax expense of $(3), $17, $(3), and $154	31	65	43	72
Adjustments [Abstract]
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent	31	65	43	72
Comprehensive Income Net Of Tax	8,283	6,741	16,731	9,527
Guarantor Subsidiaries [Member]
Net income (loss)	642	1,556	1,452	1,097
Adjustments [Abstract]
Comprehensive Income Net Of Tax	642	1,556	1,452	1,097
Non-Guarantor Subsidiaries [Member]
Net income (loss)	3,843	3,827	8,807	6,506
Change in derivatives qualifying as hedges, net of deferred tax expense of $(3), $17, $(3), and $154	(122)		(231)
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent [Abstract]
Foreign currency translation adjustments	2,466	(6,579)	(2,644)	(4,450)
Adjustments [Abstract]
Unrealized holding gain (loss) arising during the period, net of deferred taxes of $0 for all periods	521	(655)	(401)	(412)
Reclassification adjustment for gain included in net income, net of deferred tax expense of $0 for all periods	(170)	(68)	(253)	(125)
Total Adjustments	351		148
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent	2,695	(7,166)	(2,727)	(4,737)
Comprehensive Income Net Of Tax	6,538	(3,339)	6,080	1,769
Consolidation, Eliminations [Member]
Net income (loss)	(4,485)	(5,383)	(10,259)	(7,603)
Adjustments [Abstract]
Comprehensive Income Net Of Tax	$ (4,485)	$ (5,383)	$ (10,259)	$ (7,603)

XML

Earnings Per Share (Narratives) (Details)	3 Months Ended	6 Months Ended		6 Months Ended
	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2012 Two Thousand Ten Long Term Incentive Plan [Member]	Sep. 30, 2012 Stock Options [Member]	Sep. 30, 2011 Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			1,250,000
Shares of stock were issued upon the exercising of stock option				28,298	162,144
Number of shares of restricted stock vested and were issued		49,254
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	451,000	290,000

XML

Derivative Instruments (Pretax effect of derivative instruments on the condensed consolidated statement of operations) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended	6 Months Ended			3 Months Ended		6 Months Ended
	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012 Cost of Sales [Member]	Sep. 30, 2012 Foreign Exchange Contract [Member]	Sep. 30, 2012 Foreign Exchange Contract [Member] Cost of Sales [Member]	Sep. 30, 2012 Foreign Exchange Contract [Member] Cost of Sales [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net		$ (73)	$ 135		$ (68)		$ 24
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion	(5)		63	116
Amount of Gain Recognized in Income on Derivatives	$ 837	$ 534	$ 988			$ (77)

XML

Accounting Principles and Practices (Narratives) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Foreign currency exchange (loss) gain	$ (190)	$ (200)	$ 146	$ (218)

XML

Summary Financial Information (Statement of Financial Position) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Sep. 30, 2011	Mar. 31, 2011
Summary Financial Information [Abstract]
Debt Instrument, Interest Rate, Stated Percentage	7.875%	7.875%
Assets Current [Abstract]
Cash And Cash Equivalents At Carrying Value	$ 94,927		$ 89,473	$ 78,746	$ 80,139
Accounts Receivable Net Current	82,933		88,642
Inventory Net	112,051		108,055
Prepaid Expense Current	13,662		10,449
Assets Current	303,573		296,619
Property Plant And Equipment Net	59,842		61,709
Goodwill and other intangibles, net	119,881		122,226
Intercompany	0
Other assets	33,412		34,853
Investment in subsidiaries	0		0
Assets	516,708		515,407
Liabilities Current	92,795		103,909
Long-term debt, less current portion	151,426		151,889
Other Liabilities Noncurrent	96,131		99,143
Total liabilities	340,352		354,941
Stockholders Equity Including Portion Attributable To Noncontrolling Interest	176,356		160,466
Liabilities And Stockholders Equity	516,708		515,407
Parent Company [Member]
Assets Current [Abstract]
Cash And Cash Equivalents At Carrying Value	59,593		55,958	47,904	45,954
Accounts Receivable Net Current	36,348		44,375
Inventory Net	32,913		29,161
Prepaid Expense Current	6,746		5,398
Assets Current	135,600		134,892
Property Plant And Equipment Net	33,283		32,679
Goodwill and other intangibles, net	40,919		40,906
Intercompany	(4,154)		(41,502)
Other assets	5,786		6,449
Investment in subsidiaries	203,753		228,138
Assets	415,187		401,562
Liabilities Current	35,411		37,480
Long-term debt, less current portion	148,276		148,140
Other Liabilities Noncurrent	55,144		55,476
Total liabilities	238,831		241,096
Stockholders Equity Including Portion Attributable To Noncontrolling Interest	176,356		160,466
Liabilities And Stockholders Equity	415,187		401,562
Guarantor Subsidiaries [Member]
Assets Current [Abstract]
Cash And Cash Equivalents At Carrying Value	0		5	6	7
Accounts Receivable Net Current	5,662		5,579
Inventory Net	18,442		20,087
Prepaid Expense Current	1,798		502
Assets Current	25,902		26,173
Property Plant And Equipment Net	12,018		13,050
Goodwill and other intangibles, net	31,025		31,025
Intercompany	68,028		102,471
Other assets	783		784
Investment in subsidiaries	0		0
Assets	137,756		173,503
Liabilities Current	13,806		18,772
Long-term debt, less current portion	1,810		1,961
Other Liabilities Noncurrent	6,796		6,842
Total liabilities	22,412		27,575
Stockholders Equity Including Portion Attributable To Noncontrolling Interest	115,344		145,928
Liabilities And Stockholders Equity	137,756		173,503
Non-Guarantor Subsidiaries [Member]
Assets Current [Abstract]
Cash And Cash Equivalents At Carrying Value	35,334		33,510	30,836	34,178
Accounts Receivable Net Current	40,923		38,688
Inventory Net	60,696		61,347
Prepaid Expense Current	5,118		4,004
Assets Current	142,071		137,549
Property Plant And Equipment Net	14,541		15,980
Goodwill and other intangibles, net	47,937		50,295
Intercompany	(62,359)		(61,149)
Other assets	26,843		27,620
Investment in subsidiaries	0		0
Assets	169,033		170,295
Liabilities Current	45,093		49,472
Long-term debt, less current portion	1,340		1,788
Other Liabilities Noncurrent	34,191		36,825
Total liabilities	80,624		88,085
Stockholders Equity Including Portion Attributable To Noncontrolling Interest	88,409		82,210
Liabilities And Stockholders Equity	169,033		170,295
Consolidation, Eliminations [Member]
Assets Current [Abstract]
Inventory Net	0		(2,540)
Prepaid Expense Current	0		545
Assets Current	0		(1,995)
Intercompany	(1,515)		180
Investment in subsidiaries	(203,753)		(228,138)
Assets	(205,268)		(229,953)
Liabilities Current	(1,515)		(1,815)
Total liabilities	(1,515)		(1,815)
Stockholders Equity Including Portion Attributable To Noncontrolling Interest	(203,753)		(228,138)
Liabilities And Stockholders Equity	$ (205,268)		$ (229,953)

XML

Inventories

6 Months Ended

Sep. 30, 2012

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

4.       Inventories

Inventories consisted of the following (in thousands):

	September 30,		March 31,
	2012		2012
At cost - FIFO basis:
Raw materials	$	61,186	$	59,252
Work-in-process		18,216		18,952
Finished goods		54,115		49,315
		133,517		127,519
LIFO cost less than FIFO cost		(21,466)		(19,464)
Net inventories	$	112,051	$	108,055

An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations must necessarily be based on management's estimates of expected year-end inventory levels and costs. Because these are subject to many factors beyond management's control, estimated interim results are subject to change in the final year-end LIFO inventory valuation.

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Earnings Per Share (Computation of basic and diluted earnings per share) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Numerator For Basic And Diluted Earnings Per Share [Abstract]
Net income (loss)	$ 8,252	$ 6,676	$ 16,688	$ 9,455
Denominators [Abstract]
Weighted Average Number Of Shares Outstanding Basic	19,419	19,274	19,384	19,224
Effect of dilutive employee stock options and other share-based awards	$ 162	$ 197	$ 162	$ 287
Weighted Average Number Of Diluted Shares Outstanding	19,581	19,471	19,546	19,511

XML

Description of Business (Narrative) (Details)	3 Months Ended
	Jun. 30, 2012	Sep. 30, 2012
Description Of Business [Abstract]
Description Of Types Of Products And Services From Which Each Reportable Segment Derives Its Revenues	The Company is a leading designer, marketer and manufacturer of material handling products and services which efficiently and safely move, lift, position and secure material. Key products include hoists, rigging tools, cranes, and actuators.
Statement [Line Items]
Sales Revenue Goods Net Percentage		57.00%
US [Member]
Statement [Line Items]
Sales Revenue Goods Net Percentage		57.00%

XML

Summary Financial Information (Tables)

3 Months Ended

6 Months Ended

Sep. 30, 2012

Jun. 30, 2012

Sep. 30, 2011

Sep. 30, 2012

Sep. 30, 2011

Summary Financial Information [Abstract]

Schedule Of Condensed Financial Statements [Table Text Block]

For the Three Months Ended September 30, 2012						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Net income	$	8,252	$	642	$	3,843	$	(4,485)	$	8,252
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		-		-		2,466		-		2,466
Change in derivatives qualifying as hedges, net of deferred tax expense		31		-		(122)		-		(91)
Adjustments:
Unrealized holding gain arising during the period, net of deferred tax expense		-		-		521		-		521
Reclassification adjustment for gain included in net income, net of deferred tax expense		-		-		(170)		-		(170)
Total adjustments		-		-		351		-		351
Total other comprehensive income		31		-		2,695		-		2,726
Comprehensive income	$	8,283	$	642	$	6,538	$	(4,485)	$	10,978

For the Three months ended September 30, 2012						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Net sales	$	57,560	$	39,624	$	63,192	$	(13,904)	$	146,472
Cost of products sold		40,826		33,243		43,905		(13,904)		104,070
Gross profit		16,734		6,381		19,287		-		42,402
Selling, general and administrative expenses		9,692		5,102		14,199		-		28,993
Amortization of intangibles		24		-		465		-		489
		9,716		5,102		14,664		-		29,482
Income from operations		7,018		1,279		4,623		-		12,920
Interest and debt expense		2,746		632		127		-		3,505
Other (income) and expense, net		(118)		5		(252)		-		(365)
Income before income tax expense and equity in income of subsidiaries		4,390		642		4,748		-		9,780
Income tax expense		623		-		905		-		1,528
Equity in income from continuing operations of subsidiaries		4,485		-		-		(4,485)		-
Net income	$	8,252	$	642	$	3,843	$	(4,485)	$	8,252

For the Six months ended September 30, 2012						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Operating activities:
Net cash provided by (used for) operating activities	$	6,557	$	(1,276)	$	2,293	$	-	$	7,574
Investing activities:
Purchase of marketable securities, net		-		-		1,165		-		1,165
Capital expenditures		(3,354)		(211)		(515)		-		(4,080)
Proceeds from sale of assets		-		1,482		-		-		1,482
Net cash (used for) provided by investing activities		(3,354)		1,271		650		-		(1,433)
Financing activities:
Proceeds from stock options exercised		219		-		-		-		219
Net payments under lines-of-credit		-		-		(51)		-		(51)
Other		213		-		(393)		-		(180)
Net cash provided by (used for) financing activities		432		-		(444)		-		(12)
Effect of exchange rate changes on cash		-		-		(675)		-		(675)
Net change in cash and cash equivalents		3,635		(5)		1,824		-		5,454
Cash and cash equivalents at beginning of period		55,958		5		33,510		-		89,473
Cash and cash equivalents at end of period	$	59,593	$	-	$	35,334	$	-	$	94,927

						Non
As of March 31, 2012		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Current assets:
Cash and cash equivalents	$	55,958	$	5	$	33,510	$	-	$	89,473
Trade accounts receivable		44,375		5,579		38,688		-		88,642
Inventories		29,161		20,087		61,347		(2,540)		108,055
Prepaid expenses		5,398		502		4,004		545		10,449
Total current assets		134,892		26,173		137,549		(1,995)		296,619
Property, plant, and equipment, net		32,679		13,050		15,980		-		61,709
Goodwill and other intangibles, net		40,906		31,025		50,295		-		122,226
Intercompany		(41,502)		102,471		(61,149)		180		-
Other non-current assets		6,449		784		27,620		-		34,853
Investment in subsidiaries		228,138		-		-		(228,138)		-
Total assets	$	401,562	$	173,503	$	170,295	$	(229,953)	$	515,407
		-		-		-		-		-
Current liabilities	$	37,480	$	18,772	$	49,472	$	(1,815)	$	103,909
Long-term debt, less current portion		148,140		1,961		1,788		-		151,889
Other non-current liabilities		55,476		6,842		36,825		-		99,143
Total liabilities		241,096		27,575		88,085		(1,815)		354,941
Shareholders' equity		160,466		145,928		82,210		(228,138)		160,466
Total liabilities and shareholders' equity	$	401,562	$	173,503	$	170,295	$	(229,953)	$	515,407

For the Three Months Ended September 30, 2011						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Net income	$	6,676	$	1,556	$	3,827	$	(5,383)	$	6,676
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		-		-		(6,579)		-		(6,579)
Change in derivatives qualifying as hedges, net of deferred tax expense		65		-		-		-		65
Adjustments:
Unrealized holding loss arising during the period, net of deferred tax expense		-		-		(655)		-		(655)
Reclassification adjustment for gain included in net income, net of deferred tax expense		-		-		68		-		68
Total adjustments		-		-		(587)		-		(587)
Total other comprehensive income (loss)		65		-		(7,166)		-		(7,101)
Comprehensive income (loss)	$	6,741	$	1,556	$	(3,339)	$	(5,383)	$	(425)

14.       Summary Financial Information

The following information (in thousands) sets forth the condensed consolidating summary financial information of the parent and guarantors, which guarantee the 7 7/8% Senior Subordinated Notes, and the nonguarantors. The guarantors are wholly owned and the guarantees are full, unconditional, joint and several.

						Non
As of September 30, 2012		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Current assets:
Cash and cash equivalents	$	59,593	$	-	$	35,334	$	-	$	94,927
Trade accounts receivable		36,348		5,662		40,923		-		82,933
Inventories		32,913		18,442		60,696		-		112,051
Other current assets		6,746		1,798		5,118		-		13,662
Total current assets		135,600		25,902		142,071		-		303,573
Property, plant, and equipment, net		33,283		12,018		14,541		-		59,842
Goodwill and other intangibles, net		40,919		31,025		47,937		-		119,881
Intercompany		(4,154)		68,028		(62,359)		(1,515)		-
Other assets		5,786		783		26,843		-		33,412
Investment in subsidiaries		203,753		-		-		(203,753)		-
Total assets	$	415,187	$	137,756	$	169,033	$	(205,268)	$	516,708
Current liabilities		35,411		13,806		45,093		(1,515)		92,795
Long-term debt, less current portion		148,276		1,810		1,340		-		151,426
Other non-current liabilities		55,144		6,796		34,191		-		96,131
Total liabilities		238,831		22,412		80,624		(1,515)		340,352
Shareholders' equity		176,356		115,344		88,409		(203,753)		176,356
Total liabilities and shareholders' equity	$	415,187	$	137,756	$	169,033	$	(205,268)	$	516,708

For the Six months ended September 30, 2012						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Net sales	$	116,730	$	83,199	$	127,186	$	(27,630)	$	299,485
Cost of products sold		84,230		69,836		86,823		(27,630)		213,259
Gross profit		32,500		13,363		40,363		-		86,226
Selling, general and administrative expenses		20,329		11,131		28,078		-		59,538
Restructuring charges		-		-		-		-		-
Amortization of intangibles		47		-		941		-		988
		20,376		11,131		29,019		-		60,526
Income from operations		12,124		2,232		11,344		-		25,700
Interest and debt expense		6,098		684		222		-		7,004
Other (income) and expense, net		(170)		16		(1,149)		-		(1,303)
Income before income tax expense and equity in income of subsidiaries		6,196		1,532		12,271		-		19,999
Income tax (benefit) expense		(233)		80		3,464		-		3,311
Equity in income from continuing operations of subsidiaries		10,259		-		-		(10,259)		-
Net income	$	16,688	$	1,452	$	8,807	$	(10,259)	$	16,688

For the Six Months Ended September 30, 2012						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Net income	$	16,688	$	1,452	$	8,807	$	(10,259)	$	16,688
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		-		-		(2,644)		-		(2,644)
Change in derivatives qualifying as hedges, net of deferred tax expense		43		-		(231)		-		(188)
Adjustments:		-		-		-		-		-
Unrealized holding gain arising during the period, net of deferred tax expense		-		-		401		-		401
Reclassification adjustment for gain included in net income, net of deferred tax expense		-		-		(253)		-		(253)
Total adjustments		-	-	-	-	148	-	-	-	148
Total other comprehensive income (loss)		43	-	-	-	(2,727)	-	-	-	(2,684)
Comprehensive income	$	16,731	$	1,452	$	6,080	$	(10,259)	$	14,004

For the Three months ended September 30, 2011						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Net sales	$	55,119	$	44,889	$	65,034	$	(15,179)	$	149,863
Cost of products sold		40,415		39,705		45,691		(15,179)		110,632
Gross profit		14,704		5,184		19,343		-		39,231
Selling, general and administrative expenses		9,420		3,352		13,636		-		26,408
Amortization of intangibles		27		-		482		-		509
		9,447		3,352		14,118		-		26,917
Income from operations		5,257		1,832		5,225		-		12,314
Interest and debt expense		3,398		65		94		-		3,557
Other (income) and expense, net		(254)		11		(144)		-		(387)
Income before income tax expense and equity in income of subsidiaries		2,113		1,756		5,275		-		9,144
Income tax expense		1,229		200		1,448		-		2,877
Equity in income from continuing operations of subsidiaries		5,383		-		-		(5,383)		-
Gain from discontinued operations	0	409		-		-		-		409
Net income	$	6,676	$	1,556	$	3,827	$	(5,383)	$	6,676

For the Six Months Ended September 30, 2011						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Net income	$	9,455	$	1,097	$	6,506	$	(7,603)	$	9,455
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		-		-		(4,450)		-		(4,450)
Change in derivatives qualifying as hedges, net of deferred tax expense		72		-		-		-		72
Adjustments:
Unrealized holding loss arising during the period, net of deferred tax expense		-		-		(412)		-		(412)
Reclassification adjustment for gain included in net income, net of deferred tax expense		-		-		125		-		125
Total adjustments		-		-		(287)		-		(287)
Total other comprehensive income (loss)		72		-		(4,737)		-		(4,665)
Comprehensive income	$	9,527	$	1,097	$	1,769	$	(7,603)	$	4,790

For the Six months ended September 30, 2011						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Operating activities:
Net cash provided by (used for) operating activities	$	5,597	$	569	$	(1,748)	$	-	$	4,418
Investing activities:
Purchase of marketable securities, net		-		-		440		-		440
Capital expenditures		(6,006)		(454)		(765)		-		(7,225)
Net cash provided by investing activities from discontinued operations		409		-		-		-		409
Net cash used for investing activities		(5,597)		(454)		(325)		-		(6,376)
Financing activities:
Proceeds from stock options exercised		1,733		-		-		-		1,733
Net payments under lines-of-credit		-		-		(202)		-		(202)
Other		217		(116)		(343)		-		(242)
Net cash provided by (used for) financing activities		1,950		(116)		(545)		-		1,289
Effect of exchange rate changes on cash		-		-		(724)		-		(724)
Net change in cash and cash equivalents		1,950		(1)		(3,342)		-		(1,393)
Cash and cash equivalents at beginning of period		45,954		7		34,178		-		80,139
Cash and cash equivalents at end of period	$	47,904	$	6	$	30,836	$	-	$	78,746

XML

Loss Contingencies (Narratives) (Details) (USD $)	6 Months Ended
	Sep. 30, 2012 month
Loss Contingencies [Line Items]
Asbestos-related aggregate liability - Minimum	$ 7,000,000
Asbestos-related aggregate liability - Maximum	18,000,000
Loss Contingency, Estimate of Possible Loss	11,400,000
Asbestos liability payments	1,500,000
Loss Settlement Gross Period	12
Estimated Litigation Liability, Noncurrent	$ 7,300,000
Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency Period	30
Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency Period	18

XML

Fair Value Measurements (Assets and liabilities measured at fair value on recurring bases) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	$ 24,629
Quoted Prices in Active Markets for Indentical Assets (Level 1) [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	1,131
Marketable securities [Member] | Quoted Prices in Active Markets for Indentical Assets (Level 1) [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	24,629
Derivative liabilities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	(131)
Derivative liabilities [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	(131)
Equity Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	1,131
Subordinated Debt Obligations [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	(160,500)
Subordinated Debt Obligations [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	(160,500)
Obligations [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	(4,212)
Obligations [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	$ (4,212)

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Inventories (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Mar. 31, 2012
Inventory Disclosure [Abstract]
Raw materials	$ 61,186	$ 59,252
Work-in-process	18,216	18,952
Finished goods	54,115	49,315
Inventory, Gross	133,517	127,519
LIFO cost less than FIFO cost	(21,466)	(19,464)
Net inventories	$ 112,051	$ 108,055

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Fair Value Measurements

6 Months Ended

Sep. 30, 2012

Fair Value Disclosures [Abstract]

Fair Value Disclosures [TextBlock]

3.       Fair Value Measurements

Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820 “Fair Value Measurements and Disclosures” establishes the standards for reporting financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value on a recurring basis (at least annually). Under these standards, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the "exit price") in an orderly transaction between market participants at the measurement date.

ASC Topic 820-10-35-37 establishes a hierarchy for inputs that may be used to measure fair value. Level 1 is defined as quoted prices in active markets that the Company has the ability to access for identical assets or liabilities. The fair value of the Company's marketable securities is based on Level 1 inputs. Level 2 is defined as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3 inputs are unobservable inputs based on the Company's own assumptions used to measure assets and liabilities at fair value. The Company primarily uses readily observable market data in conjunction with internally developed discounted cash flow valuation models when valuing its derivative portfolio and, consequently, the fair value of the Company's derivatives is based on Level 2 inputs.  The Company uses quoted prices in an inactive market when valuing its Subordinated Debt, represented by the 7 7/8% Notes and, consequently, the fair value is based on Level 2 inputs.The carrying values of the Company's senior debt and notes payable to banks approximate fair value based on current market interest rates for debt instruments of similar credit standing and, consequently, their fair values are based on Level 2 inputs. As of September 30, 2012, the Company's assets and liabilities measured or disclosed at fair value on recurring bases were as follows (in thousands):

	Fair value measurements at reporting date using
				Quoted prices in		Significant other		Significant
				active markets for		observable		unobservable
		At September 30,		identical assets		inputs		inputs
Description		2012		(Level 1)		(Level 2)		(Level 3)
Assets/(Liabilities) measured at fair value:
Marketable securities	$	24,629	$	24,629	$	0	$	0
Derivative liabilities		(131)		0		(131)		0
Other equity investments		1,131		1,131		0		0
Assets/(Liabilities) disclosed at fair value:
Subordinated debt	$	(160,500)	$	0	$	(160,500)	$	0
Senior debt		(4,212)		0		(4,212)		0

Assets that are measured on a nonrecurring basis include the Company's reporting units that are used to test goodwill for impairment on an annual or interim basis under the provisions of ASC Topic 350-20-35-1 “Intangibles, Goodwill and Other – Goodwill Subsequent Measurement,” as well as property, plant and equipment in circumstances when the Company determines that those assets are impaired under the provisions of ASC Topic 360-10-35-17 “Property Plant and Equipment – Subsequent Measurement” and the measurement of certain termination benefits in connection with the Company's restructuring plan under the provisions of ASC Topic 420 “Exit or Disposal Cost Obligations.” There were no assets or liabilities measured at fair value on a nonrecurring basis during the quarter or six months ended September 30, 2012.

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Marketable Securities (Narratives) (Details) (USD $)	3 Months Ended			6 Months Ended
	Sep. 30, 2012	Jun. 30, 2012	Sep. 30, 2011	Sep. 30, 2012 month	Sep. 30, 2011
Marketable Securities [Abstract]
Marketable Securities, Realized Loss, Other than Temporary Impairments, Description		The Company generally considers market value declines to be other-than-temporary if there are declines for a period longer than six months and in excess of 20% of original cost, or when other evidence indicates impairment.
Minimum Decline In Value Of Marketable Securities To Be Called As Other Than Temporaty Impairment Period				6
Minimum Decline In Value Of Marketable Securities To Be Called As Other Than Temporary Impairment Percent				20.00%
Marketable Securities, Realized Gain (Loss)	$ 170,000		$ 58,000	$ 253,000	$ 121,000

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Net Periodic Benefit Cost (Narratives) (Details) (USD $)	6 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Net Periodic Benefit Cost [Abstract]
Defined Benefit Plan Expected Contribution By Employer	$ 10,357,000
Defined Benefit Plan, Curtailments	$ 1,172,000	$ 1,172,000

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Property, Plant, and Equipment (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Mar. 31, 2012
Property, Plant and Equipment, Net [Abstract]
Property Plant And Equipment Net	$ 59,842	$ 61,709

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Consolidated Statements of Operations and (Accumulated Deficit) Retained Earnings (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Revenues [Abstract]
Net sales	$ 146,472	$ 149,863	$ 299,485	$ 289,623
Cost of products sold	104,070	110,632	213,259	214,750
Gross profit	42,402	39,231	86,226	74,873
Operating Expenses [Abstract]
Selling expenses	16,447	15,509	32,814	31,535
General and administrative expenses	12,546	10,899	26,724	22,351
Restructuring charges	0		430	430
Amortization of intangibles	489	509	988	1,030
Total operating expenses	29,482	26,917	60,526	55,346
Income (loss) from operations	12,920	12,314	25,700	19,527
Other Income & Expenses [Abstract]
Interest and debt expense	3,505	3,557	7,004	7,061
Investment income	(382)	(287)	(662)	(549)
Foreign currency exchange (loss) gain	190	200	(146)	218
Other income, net	(173)	(300)	(495)	(481)
(Loss) income from continuing operations before income tax expense (benefit)	9,780	9,144	19,999	13,278
Income Tax Expense Benefit [Abstract]
Income Tax Expense Benefit	1,528	2,877	3,311	4,232
Income (Loss) from continuing operations	8,252	6,267	16,688	9,046
Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax & Other [Abstract]
Income from discontinued operations		409	0	409
Profit Loss	8,252	6,676	16,688	9,455
Retained Earnings Accumulated Deficit [Abstract]
New Accounting Pronouncement Or Change In Accounting Principle Name	-	-
(Accumulated Deficit) retained earnings - beginning of period	34,331	1,707	25,895	(1,072)
Accumulated deficit (retained earnings) - end of period	$ 42,583	$ 8,383	$ 42,583	$ 8,383
Weighted Average Number Of Shares Outstanding Basic [Abstract]
Weighted Average Number Of Shares Outstanding Basic	19,419	19,274	19,384	19,224
Weighted Average Number Of Shares Outstanding [Abstract]
Weighted Average Number Of Diluted Shares Outstanding	19,581	19,471	19,546	19,511
Earnings Per Share Basic [Abstract]
Income Loss From Continuing Operations Per Basic Share	$ 0.42	$ 0.33	$ 0.86	$ 0.47
Income Loss From Discontinued Operations Net Of Tax Per Basic Share		$ 0.02	$ 0.00	$ 0.02
Earnings Per Share Basic	$ 0.42	$ 0.35	$ 0.86	$ 0.49
Earnings Per Share Diluted [Abstract]
Income Loss From Continuing Operations Per Diluted Share	$ 0.42	$ 0.32	$ 0.85	$ 0.46
Income Loss From Discontinued Operations Net Of Tax Per Diluted Share		$ 0.02	$ 0.00	$ 0.02
Earnings Per Share Diluted	$ 0.42	$ 0.34	$ 0.85	$ 0.48

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Restructuring Charges (Narratives) (Details) (USD $)	3 Months Ended	6 Months Ended
	Sep. 30, 2012	Sep. 30, 2012	Sep. 30, 2011
Restructuring Charges [Abstract]
Termination benefits recorded as restructuring costs		$ 413,000
Restructuring charges	$ 0	$ 430,000	$ 430,000

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Description of Business

6 Months Ended

Sep. 30, 2012

Description Of Business [Abstract]

Organization Consolidation And Presentation Of Financial Statements Disclosure [Text Block]

1.       Description of Business

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position of Columbus McKinnon Corporation (the Company) at September 30, 2012, the results of its operations for the three and sixmonth periods ended September 30, 2012 and September 30, 2011, and cash flows for the six months ended September 30, 2012 and September 30, 2011, have been included. Results for the period ended September 30, 2012 are not necessarily indicative of the results that may be expected for the year ending March 31, 2013. The balance sheet at March 31, 2012 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Columbus McKinnon Corporation annual report on Form 10-K for the year ended March 31, 2012.

The Company is a leading designer, marketer and manufacturer of material handling products and services which efficiently and safely move, lift, position and secure material. Key products include hoists, rigging tools, cranes, and actuators. The Company's material handling products are sold globally, principally to third party distributors through diverse distribution channels, and to a lesser extent directly to end-users. During the three and six months ended September 30, 2012, approximately 57% of sales were to customers in the U.S.

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Goodwill and Intangible Assets (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Sep. 30, 2012	Mar. 31, 2012
Goodwill [Roll Forward]
Opening Balance	$ 106,435
Goodwill Translation Adjustments	(876)
Closing Balance	105,559
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	21,106	21,858
Accumulated Amortization	(6,784)	(6,067)
Net	14,322	15,791
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,574	5,783
Accumulated Amortization	(1,222)	(1,109)
Net	4,352	4,674
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	14,251	14,808
Accumulated Amortization	(5,235)	(4,693)
Net	9,016	10,115
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,281	1,267
Accumulated Amortization	(327)	(265)
Net	$ 954	$ 1,002

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Inventories (Tables)

6 Months Ended

Sep. 30, 2012

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

	September 30,		March 31,
	2012		2012
At cost - FIFO basis:
Raw materials	$	61,186	$	59,252
Work-in-process		18,216		18,952
Finished goods		54,115		49,315
		133,517		127,519
LIFO cost less than FIFO cost		(21,466)		(19,464)
Net inventories	$	112,051	$	108,055

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Derivative Instruments (Narratives) (Details) (USD $)	Sep. 30, 2012
Derivatives, Fair Value [Line Items]
Derivative Instruments in Hedges, at Fair Value, Net	$ 0
Designated As Hedging Instrument [Member] | Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Notional Amount of Foreign Currency Derivatives	9,533,000
Derivatives Not Designated As Hedging Instruments [Member] | Currency Swap [Member]
Derivatives, Fair Value [Line Items]
Notional Amount of Foreign Currency Derivatives	5,795,000
Derivatives Not Designated As Hedging Instruments [Member] | Foreign Exchange Contract [Member]
Derivatives, Fair Value [Line Items]
Notional Amount of Foreign Currency Derivatives	$ 2,380,000

XML

Goodwill and Intangible Assets (Tables)

6 Months Ended

Sep. 30, 2012

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Goodwill [Text Block]

Balance at April 1, 2012	$	106,435
Currency translation		(876)
Balance at September 30, 2012	$	105,559

Schedule of Indefinite-lived Intangible Assets by Major Class [Text Block]

		September 30, 2012						March 31, 2012
		Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Trademark	$	5,574	$	(1,222)	$	4,352	$	5,783	$	(1,109)	$	4,674
Customer relationships		14,251		(5,235)		9,016		14,808		(4,693)		10,115
Other		1,281		(327)		954		1,267		(265)		1,002
Total	$	21,106	$	(6,784)	$	14,322	$	21,858	$	(6,067)	$	15,791

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Divestitures

6 Months Ended

Sep. 30, 2012

Divestitures [Abstract]

Disposal Groups Including Discontinued Operations Disclosure [Text Block]

2.       Divestitures

Income from discontinued operations presented in the condensed consolidated statements of operations and retained earnings for the three and six month period ending September 30, 2011 includes payments received on a note receivable related to the Company's fiscal 2002 disposal of Automatic Systems, Inc.The note has been fully collected as of September 30, 2012.

During the quarter ended September 30, 2012, the Company sold certain assets of the Gaffey division of Crane Equipment and Service, Inc.  The sale of the Gaffey assets did not have a material effect on the Company's financial statements for the three and six months ended September 30, 2012 and therefore was not reclassified as a discontinued operation.

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Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Mar. 31, 2012
Assets Current [Abstract]
Cash And Cash Equivalents At Carrying Value	$ 94,927	$ 89,473
Accounts Receivable Net Current	82,933	88,642
Inventory Net	112,051	108,055
Prepaid Expense Current	13,662	10,449
Total Assets Current	303,573	296,619
Property Plant And Equipment Net	59,842	61,709
Goodwill	105,559	106,435
Intangible Assets Net Excluding Goodwill	14,322	15,791
Marketable Securities Noncurrent	24,629	25,393
Deferred Tax Assets Net Noncurrent	2,790	2,824
Other Assets Noncurrent	5,993	6,636
Total Assets	516,708	515,407
Liabilities Current [Abstract]
Short Term Bank Loans And Notes Payable	0	112
Accounts Payable Trade Current	33,833	40,991
Accrued Liabilities Current	57,900	61,713
Restructuring Reserve Current	0	0
Long Term Debt Current	1,062	1,093
Total current liabilities	92,795	103,909
Senior Long Term Notes	3,150	3,749
Subordinated Long Term Debt	148,276	148,140
Other Liabilities Noncurrent	96,131	99,143
Total liabilities	340,352	354,941
Stockholders Equity Including Portion Attributable To Noncontrolling Interest [Abstract]
Common Stock Value	194	193
Additional Paid In Capital Common Stock	190,932	189,260
Accumulated deficit (retained earnings)	42,583	25,895
Employee Stock Ownership Plan ESOP Debt Structure Employer Loan Guarantee	(762)	(975)
Accumulated Other Comprehensive Income Loss Net Of Tax	(56,591)	(53,907)
Total shareholders' equity	176,356	160,466
Total Liabilities and Shareholders' Equity	$ 516,708	$ 515,407

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Earnings Per Share

3 Months Ended

6 Months Ended

Jun. 30, 2012

Sep. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Refer to the Company's consolidated financial statements included in its Form 10-K for the year ended March 31,2012for further information on its earnings per share and stock plans.

10.       Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands):

		Three months ended			Six Months Ended
		September 30, 2012		September 30, 2011	September 30, 2012	September 30, 2011
Numerator for basic and diluted earnings per share:
Net income	$	8,252	$	6,676	16,688	9,455
					-	-
Denominators:					-	-
Weighted-average common stock outstanding – denominator for basic EPS		19,419		19,274	19,384	19,224
Effect of dilutive employee stock options and other share-based awards		162		197	162	287
Adjusted weighted-average common stock outstanding and assumed conversions – denominator for diluted EPS		19,581		19,471	19,546	19,511

Stock options and performance shares with respect to 290,000 and 307,000 common shares for the three month periods ended September 30, 2012 and 2011, respectively and290,000 and 451,000 common shares for the six month periods ended September 30, 2012 and 2011, respectively were not included in the computation of diluted earnings per share for September 30, 2012and2011, respectively, because they were antidilutive.

On July 26, 2010, the shareholders of the Company approved the 2010 Long Term Incentive Plan (“LTIP”).  The Company grants share based compensation to eligible participants under the LTIP.  The total number of shares of common stock with respect to which awards may be granted under the plan is 1,250,000 including shares not previously authorized for issuance under any of the Prior Stock Plans and any shares not issued or subject to outstanding awards under the Prior Stock Plans.  

During the first six months of fiscal 2013 and 2012, a total of28,298 and 162,144 shares of common stock were issued upon the exercising of stock options related to the Company's stock option plans. During the fiscal year ended March 31, 2012, 49,254 shares of restricted stock vested and were issued.

Refer to the Company's consolidated financial statements included in its Form 10-K for the year ended March 31,2012for further information on its earnings per share and stock plans.

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Document and Entity Information (USD $)	6 Months Ended
	Sep. 30, 2012
Document Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Sep. 30, 2012
Amendment Flag	false
Entity Registrant Name	Columbus McKinnon Corporation
Entity Central Index Key	0001005229
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--03-31
Entity Filer Category	Accelerated Filer
Entity Well Known Seasoned Issuer	No
Entity Common Stock Shares Outstanding	19,496,251
Entity Public Float	$ 285,230,152
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q2

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Summary Financial Information

3 Months Ended

6 Months Ended

Sep. 30, 2012

Jun. 30, 2012

Sep. 30, 2011

Sep. 30, 2012

Sep. 30, 2011

Summary Financial Information [Abstract]

Schedule Of Condensed Financial Statement [Text Block]

For the Three Months Ended September 30, 2012						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Net income	$	8,252	$	642	$	3,843	$	(4,485)	$	8,252
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		-		-		2,466		-		2,466
Change in derivatives qualifying as hedges, net of deferred tax expense		31		-		(122)		-		(91)
Adjustments:
Unrealized holding gain arising during the period, net of deferred tax expense		-		-		521		-		521
Reclassification adjustment for gain included in net income, net of deferred tax expense		-		-		(170)		-		(170)
Total adjustments		-		-		351		-		351
Total other comprehensive income		31		-		2,695		-		2,726
Comprehensive income	$	8,283	$	642	$	6,538	$	(4,485)	$	10,978

For the Three months ended September 30, 2012						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Net sales	$	57,560	$	39,624	$	63,192	$	(13,904)	$	146,472
Cost of products sold		40,826		33,243		43,905		(13,904)		104,070
Gross profit		16,734		6,381		19,287		-		42,402
Selling, general and administrative expenses		9,692		5,102		14,199		-		28,993
Amortization of intangibles		24		-		465		-		489
		9,716		5,102		14,664		-		29,482
Income from operations		7,018		1,279		4,623		-		12,920
Interest and debt expense		2,746		632		127		-		3,505
Other (income) and expense, net		(118)		5		(252)		-		(365)
Income before income tax expense and equity in income of subsidiaries		4,390		642		4,748		-		9,780
Income tax expense		623		-		905		-		1,528
Equity in income from continuing operations of subsidiaries		4,485		-		-		(4,485)		-
Net income	$	8,252	$	642	$	3,843	$	(4,485)	$	8,252

For the Six months ended September 30, 2012						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Operating activities:
Net cash provided by (used for) operating activities	$	6,557	$	(1,276)	$	2,293	$	-	$	7,574
Investing activities:
Purchase of marketable securities, net		-		-		1,165		-		1,165
Capital expenditures		(3,354)		(211)		(515)		-		(4,080)
Proceeds from sale of assets		-		1,482		-		-		1,482
Net cash (used for) provided by investing activities		(3,354)		1,271		650		-		(1,433)
Financing activities:
Proceeds from stock options exercised		219		-		-		-		219
Net payments under lines-of-credit		-		-		(51)		-		(51)
Other		213		-		(393)		-		(180)
Net cash provided by (used for) financing activities		432		-		(444)		-		(12)
Effect of exchange rate changes on cash		-		-		(675)		-		(675)
Net change in cash and cash equivalents		3,635		(5)		1,824		-		5,454
Cash and cash equivalents at beginning of period		55,958		5		33,510		-		89,473
Cash and cash equivalents at end of period	$	59,593	$	-	$	35,334	$	-	$	94,927

						Non
As of March 31, 2012		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Current assets:
Cash and cash equivalents	$	55,958	$	5	$	33,510	$	-	$	89,473
Trade accounts receivable		44,375		5,579		38,688		-		88,642
Inventories		29,161		20,087		61,347		(2,540)		108,055
Prepaid expenses		5,398		502		4,004		545		10,449
Total current assets		134,892		26,173		137,549		(1,995)		296,619
Property, plant, and equipment, net		32,679		13,050		15,980		-		61,709
Goodwill and other intangibles, net		40,906		31,025		50,295		-		122,226
Intercompany		(41,502)		102,471		(61,149)		180		-
Other non-current assets		6,449		784		27,620		-		34,853
Investment in subsidiaries		228,138		-		-		(228,138)		-
Total assets	$	401,562	$	173,503	$	170,295	$	(229,953)	$	515,407
		-		-		-		-		-
Current liabilities	$	37,480	$	18,772	$	49,472	$	(1,815)	$	103,909
Long-term debt, less current portion		148,140		1,961		1,788		-		151,889
Other non-current liabilities		55,476		6,842		36,825		-		99,143
Total liabilities		241,096		27,575		88,085		(1,815)		354,941
Shareholders' equity		160,466		145,928		82,210		(228,138)		160,466
Total liabilities and shareholders' equity	$	401,562	$	173,503	$	170,295	$	(229,953)	$	515,407

For the Three Months Ended September 30, 2011						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Net income	$	6,676	$	1,556	$	3,827	$	(5,383)	$	6,676
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		-		-		(6,579)		-		(6,579)
Change in derivatives qualifying as hedges, net of deferred tax expense		65		-		-		-		65
Adjustments:
Unrealized holding loss arising during the period, net of deferred tax expense		-		-		(655)		-		(655)
Reclassification adjustment for gain included in net income, net of deferred tax expense		-		-		68		-		68
Total adjustments		-		-		(587)		-		(587)
Total other comprehensive income (loss)		65		-		(7,166)		-		(7,101)
Comprehensive income (loss)	$	6,741	$	1,556	$	(3,339)	$	(5,383)	$	(425)

						Non
As of September 30, 2012		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Current assets:
Cash and cash equivalents	$	59,593	$	-	$	35,334	$	-	$	94,927
Trade accounts receivable		36,348		5,662		40,923		-		82,933
Inventories		32,913		18,442		60,696		-		112,051
Other current assets		6,746		1,798		5,118		-		13,662
Total current assets		135,600		25,902		142,071		-		303,573
Property, plant, and equipment, net		33,283		12,018		14,541		-		59,842
Goodwill and other intangibles, net		40,919		31,025		47,937		-		119,881
Intercompany		(4,154)		68,028		(62,359)		(1,515)		-
Other assets		5,786		783		26,843		-		33,412
Investment in subsidiaries		203,753		-		-		(203,753)		-
Total assets	$	415,187	$	137,756	$	169,033	$	(205,268)	$	516,708
Current liabilities		35,411		13,806		45,093		(1,515)		92,795
Long-term debt, less current portion		148,276		1,810		1,340		-		151,426
Other non-current liabilities		55,144		6,796		34,191		-		96,131
Total liabilities		238,831		22,412		80,624		(1,515)		340,352
Shareholders' equity		176,356		115,344		88,409		(203,753)		176,356
Total liabilities and shareholders' equity	$	415,187	$	137,756	$	169,033	$	(205,268)	$	516,708

For the Six months ended September 30, 2012						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Net sales	$	116,730	$	83,199	$	127,186	$	(27,630)	$	299,485
Cost of products sold		84,230		69,836		86,823		(27,630)		213,259
Gross profit		32,500		13,363		40,363		-		86,226
Selling, general and administrative expenses		20,329		11,131		28,078		-		59,538
Restructuring charges		-		-		-		-		-
Amortization of intangibles		47		-		941		-		988
		20,376		11,131		29,019		-		60,526
Income from operations		12,124		2,232		11,344		-		25,700
Interest and debt expense		6,098		684		222		-		7,004
Other (income) and expense, net		(170)		16		(1,149)		-		(1,303)
Income before income tax expense and equity in income of subsidiaries		6,196		1,532		12,271		-		19,999
Income tax (benefit) expense		(233)		80		3,464		-		3,311
Equity in income from continuing operations of subsidiaries		10,259		-		-		(10,259)		-
Net income	$	16,688	$	1,452	$	8,807	$	(10,259)	$	16,688

For the Six Months Ended September 30, 2012						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Net income	$	16,688	$	1,452	$	8,807	$	(10,259)	$	16,688
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		-		-		(2,644)		-		(2,644)
Change in derivatives qualifying as hedges, net of deferred tax expense		43		-		(231)		-		(188)
Adjustments:		-		-		-		-		-
Unrealized holding gain arising during the period, net of deferred tax expense		-		-		401		-		401
Reclassification adjustment for gain included in net income, net of deferred tax expense		-		-		(253)		-		(253)
Total adjustments		-	-	-	-	148	-	-	-	148
Total other comprehensive income (loss)		43	-	-	-	(2,727)	-	-	-	(2,684)
Comprehensive income	$	16,731	$	1,452	$	6,080	$	(10,259)	$	14,004

For the Three months ended September 30, 2011						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Net sales	$	55,119	$	44,889	$	65,034	$	(15,179)	$	149,863
Cost of products sold		40,415		39,705		45,691		(15,179)		110,632
Gross profit		14,704		5,184		19,343		-		39,231
Selling, general and administrative expenses		9,420		3,352		13,636		-		26,408
Amortization of intangibles		27		-		482		-		509
		9,447		3,352		14,118		-		26,917
Income from operations		5,257		1,832		5,225		-		12,314
Interest and debt expense		3,398		65		94		-		3,557
Other (income) and expense, net		(254)		11		(144)		-		(387)
Income before income tax expense and equity in income of subsidiaries		2,113		1,756		5,275		-		9,144
Income tax expense		1,229		200		1,448		-		2,877
Equity in income from continuing operations of subsidiaries		5,383		-		-		(5,383)		-
Gain from discontinued operations	0	409		-		-		-		409
Net income	$	6,676	$	1,556	$	3,827	$	(5,383)	$	6,676

For the Six months ended September 30, 2011						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Net sales	$	103,541	$	86,860	$	126,371	$	(27,149)	$	289,623
Cost of products sold		77,803		75,418		88,678		(27,149)		214,750
Gross profit		25,738		11,442		37,693		-		74,873
Selling, general and administrative expenses		16,793		9,752		27,341		-		53,886
Restructuring charges		12		-		418		-		430
Amortization of intangibles		54		-		976		-		1,030
		16,859		10,686		28,735		-		55,346
Income from operations		8,879		1,690		8,958		-		19,527
Interest and debt expense		6,478		406		177		-		7,061
Other (income) and expense, net		(406)		18		(424)		-		(812)
Income from continuing operations before income tax expense and equity in income of subsidiaries		2,807		1,266		9,205		-		13,278
Income tax expense		1,364		169		2,699		-		4,232
Equity in income from continuing operations of subsidiaries		7,603		-		-		(7,603)		-
Income from continuing operations		9,046		1,097		6,506		(7,603)		9,046
Gain from discontinued operations		409		-		-		-		409
Net income	$	9,455	$	1,097	$	6,506	$	(7,603)	$	9,455

For the Six months ended September 30, 2011						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Net sales	$	103,541	$	86,860	$	126,371	$	(27,149)	$	289,623
Cost of products sold		77,803		75,418		88,678		(27,149)		214,750
Gross profit		25,738		11,442		37,693		-		74,873
Selling, general and administrative expenses		16,793		9,752		27,341		-		53,886
Restructuring charges		12		-		418		-		430
Amortization of intangibles		54		-		976		-		1,030
		16,859		10,686		28,735		-		55,346
Income from operations		8,879		1,690		8,958		-		19,527
Interest and debt expense		6,478		406		177		-		7,061
Other (income) and expense, net		(406)		18		(424)		-		(812)
Income from continuing operations before income tax expense and equity in income of subsidiaries		2,807		1,266		9,205		-		13,278
Income tax expense		1,364		169		2,699		-		4,232
Equity in income from continuing operations of subsidiaries		7,603		-		-		(7,603)		-
Income from continuing operations		9,046		1,097		6,506		(7,603)		9,046
Gain from discontinued operations		409		-		-		-		409
Net income	$	9,455	$	1,097	$	6,506	$	(7,603)	$	9,455

For the Six Months Ended September 30, 2011						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Net income	$	9,455	$	1,097	$	6,506	$	(7,603)	$	9,455
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		-		-		(4,450)		-		(4,450)
Change in derivatives qualifying as hedges, net of deferred tax expense		72		-		-		-		72
Adjustments:
Unrealized holding loss arising during the period, net of deferred tax expense		-		-		(412)		-		(412)
Reclassification adjustment for gain included in net income, net of deferred tax expense		-		-		125		-		125
Total adjustments		-		-		(287)		-		(287)
Total other comprehensive income (loss)		72		-		(4,737)		-		(4,665)
Comprehensive income	$	9,527	$	1,097	$	1,769	$	(7,603)	$	4,790

For the Six months ended September 30, 2011						Non
		Parent		Guarantors		Guarantors		Eliminations		Consolidated
Operating activities:
Net cash provided by (used for) operating activities	$	5,597	$	569	$	(1,748)	$	-	$	4,418
Investing activities:
Purchase of marketable securities, net		-		-		440		-		440
Capital expenditures		(6,006)		(454)		(765)		-		(7,225)
Net cash provided by investing activities from discontinued operations		409		-		-		-		409
Net cash used for investing activities		(5,597)		(454)		(325)		-		(6,376)
Financing activities:
Proceeds from stock options exercised		1,733		-		-		-		1,733
Net payments under lines-of-credit		-		-		(202)		-		(202)
Other		217		(116)		(343)		-		(242)
Net cash provided by (used for) financing activities		1,950		(116)		(545)		-		1,289
Effect of exchange rate changes on cash		-		-		(724)		-		(724)
Net change in cash and cash equivalents		1,950		(1)		(3,342)		-		(1,393)
Cash and cash equivalents at beginning of period		45,954		7		34,178		-		80,139
Cash and cash equivalents at end of period	$	47,904	$	6	$	30,836	$	-	$	78,746

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Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Net Cash Provided By Used In Operating Activities [Abstract]
Net income (loss)	$ 16,688	$ 9,455
Income from discontinued operations	0	(409)
Depreciation and amortization	6,221	5,711
Deferred income taxes and related valuation allowance	155	261
Gain on sale of real estate/investments	(253)	(223)
Gain on disposal of assets	0	0
Stock-based compensation	1,649	1,447
Amortization of deferred financing costs	130	192
Non-cash restructuring charges	0	0
Increase Decrease In Operating Capital [Abstract]
Trade accounts receivable	(4,618)	3,421
Inventories	(7,231)	(6,037)
Prepaid expenses	(3,477)	1,288
Other assets	445	143
Trade accounts payable	6,002	(481)
Accrued and non-current liabilities	(5,369)	(4,470)
Net Cash Provided By Used In Operating Activities	7,574	4,418
Net Cash Provided By Used In Investing Activities [Abstract]
Proceeds from sale of marketable securities	3,101	3,978
Purchases of marketable securities	(1,936)	(3,538)
Capital expenditures	(4,080)	(7,225)
Proceeds from sale of businesses or assets	1,482	0
Net cash used for investing activities from continuing operations	(1,433)	(6,785)
Net cash provided by investing activities from discontinued operations	0	409
Net cash used for investing activities	(1,433)	(6,376)
Net Cash Provided By Used In Financing Activities [Abstract]
Proceeds from exercise of stock options	219	1,733
Net payments under lines-of-credit	(51)	(202)
Repayments of debt	393	459
Change in ESOP guarantee	(213)	(217)
Net cash provided by (used) for financing activities	(12)	1,289
Effect Of Exchange Rate On Cash And Cash Equivalents	(675)	(724)
Cash And Cash Equivalents Period Increase Decrease	5,454	(1,393)
Cash And Cash Equivalents At Carrying Value - Beginning of Period	89,473	80,139
Cash And Cash Equivalents At Carrying Value - End of Period	94,927	78,746
Supplemental Cash Flow Information [Abstract]
Interest Paid	6,898	6,785
Income Taxes Paid	$ 3,591	$ 3,946

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Derivative Instruments

3 Months Ended

6 Months Ended

Sep. 30, 2012

Sep. 30, 2012

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Instruments And Hedging Activities Disclosure [Text Block]

September 30,	Derivatives Designated as Cash Flow Hedges		Gain/(Loss) Recognized (1)	Location of Gain/(Loss) Recognized in Income on Derivatives		Gain/(Loss) Reclassified (2)
2012	Foreign exchange contracts	$	(68)	Cost of products sold	$	24
2011	Foreign exchange contracts	$	-	Cost of products sold	$	(5)
(1) Recognized in Other Comprehensive Loss (AOCL) on Derivatives (Effective Portion)
(2) Reclassified from AOCL into Income (Effective Portion)

September 30,	Derivatives Not Designated as Hedging Instruments	Location of Gain Recognized in Income on Derivatives		Gain Recognized in Income on Derivatives
2012	Foreign exchange contracts	Foreign currency exchange gain (loss)	$	(77)
2011	Foreign exchange contracts	Foreign currency exchange gain	$	837

7.Derivative Instruments

The Company uses derivative instruments to manage selected foreign currency exposures. The Company does not use derivative instruments for speculative trading purposes. All derivative instruments must be recorded on the balance sheet at fair value. For derivatives designated as cash flow hedges, the effective portion of changes in the fair value of the derivative is recorded as accumulated other comprehensive loss, or “AOCL”, and is reclassified to earnings when the underlying transaction has an impact on earnings. The ineffective portion of changes in the fair value of the derivative is reported in foreign currency exchange gain in the Company's consolidated statement of operations. For derivatives not classified as cash flow hedges, all changes in market value are recorded as a foreign currency exchange loss (gain) in the Company's consolidated statements of operations.

The Company has foreign currency forward agreements and cross-currency swaps in place to offset changes in the value of intercompany loans to certain foreign subsidiaries due to changes in foreign exchange rates. The notional amount of these derivatives is $5,795,000 and all contracts mature by September 30, 2013. These contracts are not designated as hedges.

The Company has foreign currency forward agreements in place to hedge changes in the value of recorded foreign currency liabilities due to changes in foreign exchange rates at the settlement date. The notional amount of those derivatives is $2,380,000 and all contracts mature within twelve months. These contracts are marked to market each balance sheet date and are not designated as hedges.

The Company has foreign currency forward agreements that are designated as cash flow hedges to hedge a portion of forecasted inventory purchases and sales, including multi-year contracts related to capital project sales, denominated in a foreign currency. The notional amount of those derivatives is $9,533,000 and all contracts mature within twenty one months ofSeptember 30, 2012.

The Company is exposed to credit losses in the event of non performance by the counterparties on its financial instruments. All counterparties have investment grade credit ratings. The Company anticipates that these counterparties will be able to fully satisfy their obligations under the contracts. The Company has derivative contracts with three different counterparties as of September 30, 2012.

The following is the effect of derivative instruments on the condensed consolidated statement of operations for thethree monthsended September 30, 2012and 2011 (in thousands):

September 30,	Derivatives Designated as Cash Flow Hedges		(Loss)/Gain Recognized (3)	Location of Gain/(Loss) Recognized in Income on Derivatives		Gain Reclassified (4)
2012	Foreign exchange contracts	$	(73)	Cost of products sold	$	116
2011	Foreign exchange contracts	$	135	Cost of products sold	$	63
(3) Recognized in AOCL on Derivatives (Effective Portion)
(4) Reclassified from AOCL into Income (Effective Portion)

September 30,	Derivatives Not Designated as Hedging Instruments	Location of Gain Recognized in Income on Derivatives		Gain Recognized in Income on Derivatives
2012	Foreign exchange contracts	Foreign currency exchange gain	$	534
2011	Foreign exchange contracts	Foreign currency exchange gain	$	988

As of September 30,2012, the Company had no derivatives designated as net investments or fair value hedges in accordance with ASC Topic 815, “Derivatives and Hedging.”

The following is information relative to the Company's derivative instruments in the condensed consolidated balance sheet as of September 30, 2012(in thousands):

Derivatives Designated as Hedging Instruments	Balance Sheet Location		Fair Value of Asset (Liability)
Foreign exchange contracts	Other Assets	$	69
Foreign exchange contracts	Accrued Liabilities	$	(247)
Derivatives Not Designated as Hedging Instruments	Balance Sheet Location		Fair Value of Asset (Liability)
Foreign exchange contracts	Other Assets	$	59
Foreign exchange contracts	Accrued Liabilities	$	(12)

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Goodwill and Intangible Assets

6 Months Ended

Sep. 30, 2012

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill And Intangible Assets Disclosure [Text Block]

6.       Goodwill and Intangible Assets

Goodwill is not amortized but is tested for impairment at least annually, in accordance with the provisions of ASC Topic 350-20-35-1.  Goodwill impairment is deemed to exist if the net book value of a reporting unit exceeds its estimated fair value.  The fair value of a reporting unit is determined using a discounted cash flow methodology.  The Company's reporting units are determined based upon whether discrete financial information is available and reviewed regularly, whether those units constitute a business, and the extent of economic similarities between those reporting units for purposes of aggregation.  The Company's reporting units identified under ASC Topic 350-20-35-33 are at the component level, or one level below the reporting segment level as defined under ASC Topic 280-10-50-10 “Segment Reporting – Disclosure.” The Company has four reporting units.  Only two of the four reporting units carry goodwill at September 30, 2012 and March 31, 2012.

When we evaluate the potential for goodwill impairment, we assess a range of qualitative factors including, but not limited to, macroeconomic conditions, industry conditions, the competitive environment, changes in the market for our products and services, regulatory and political developments, entity specific factors such as strategy and changes in key personnel and overall financial performance. If, after completing this assessment, it is determined that it is more likely than not that the fair value of a reporting unit is less than its carrying value, we proceed to a two-step impairment test.

In accordance with ASC Topic 350-20-35-3, the measurement of impairment of goodwill consists of two steps. In the first step, the Company compares the fair value of each reporting unit to its carrying value. As part of the impairment analysis, the Company determines the fair value of each of its reporting units with goodwill using the income approach. The income approach uses a discounted cash flow methodology to determine fair value. This methodology recognizes value based on the expected receipt of future economic benefits. Key assumptions in the income approach include a free cash flow projection, an estimated discount rate, a long-term growth rate and a terminal value. These assumptions are based upon the Company's historical experience, current market trends and future expectations.

We performed our qualitative assessment during the fourth quarter of fiscal year 2012 and determined it was not more likely than not that the fair value of each of our reporting units was less than its applicable carrying value. Accordingly, we did not perform the two-step goodwill impairment test for any of our reporting units.

Future impairment indicators, such as declines in forecasted cash flows, may cause additional significant impairment charges. Impairment charges could be based on such factors as the Company's stock price, forecasted cash flows, assumptions used, control premiums or other variables.

A summary of changes in goodwill during the six months endedSeptember 30, 2012is as follows (in thousands):

Balance at April 1, 2012	$	106,435
Currency translation		(876)
Balance at September 30, 2012	$	105,559

Identifiable intangible assets acquired in a business combination are amortized over their useful lives unless their useful lives are indefinite, in which case those intangible assets are tested for impairment annually (or upon identification of impairment indicators) and not amortized until their lives are determined to be finite.

Identifiable intangible assets are summarized as follows (in thousands):

		September 30, 2012						March 31, 2012
		Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Trademark	$	5,574	$	(1,222)	$	4,352	$	5,783	$	(1,109)	$	4,674
Customer relationships		14,251		(5,235)		9,016		14,808		(4,693)		10,115
Other		1,281		(327)		954		1,267		(265)		1,002
Total	$	21,106	$	(6,784)	$	14,322	$	21,858	$	(6,067)	$	15,791

Based on the current amount of identifiable intangible assets, the estimated amortization expense for each of the fiscal years 2013 through 2017 is expected to be in a range of $1,700,000 to $1,900,000.

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Marketable Securities (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2012

Sep. 30, 2012

Marketable Securities [Abstract]

Schedule Of Available For Sale Securities Reconciliation [Table Text Block]

		Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Marketable securities	$	23,183	$	2,249	$	39	$	25,393

				Gross Unrealized		Gross Unrealized		Estimated Fair
		Cost		Gains		Losses		Value
Marketable securities	$	22,153	$	2,538	$	62	$	24,629

Schedule of Unrealized Loss on Investments [Table Text Block]

		Aggregate		Unrealized
		Fair Value		Losses
Securities in a continuous loss position for less than 12 months	$	-	$	-
Securities in a continuous loss position for more than 12 months		1,048		62
	$	1,048	$	62

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Loss Contingencies

6 Months Ended

Sep. 30, 2012

Loss Contingency [Abstract]

Commitments And Contingencies Disclosure [Text Block]

11.       Loss Contingencies

Like many industrial manufacturers, the Company is involved in asbestos-related litigation.  In continually evaluating costs relating to its estimated asbestos-related liability, the Company reviews, among other things, the incidence of past and recent claims, the historical case dismissal rate, the mix of the claimed illnesses and occupations of the plaintiffs, its recent and historical resolution of the cases, the number of cases pending against it, the status and results of broad-based settlement discussions, and the number of years such activity might continue. Based on this review, the Company has estimated its share of liability to defend and resolve probable asbestos-related personal injury claims. This estimate is highly uncertain due to the limitations of the available data and the difficulty of forecasting with any certainty the numerous variables that can affect the range of the liability. The Company will continue to study the variables in light of additional information in order to identify trends that may become evident and to assess their impact on the range of liability that is probable and estimable.

Based on actuarial information, the Company has estimated its asbestos-related aggregate liability including related legal costs to range between $7,000,000 and $18,000,000 using actuarial parameters of continued claims for a period of 18 to 30 years from September 30, 2012. The Company's estimation of its asbestos-related aggregate liability that is probable and estimable, in accordance with U.S. generally accepted accounting principles approximates $11,400,000, which has been reflected as a liability in the consolidated financial statements as of September 30, 2012.The recorded liability does not consider the impact of any potential favorable federal legislation. This liability will fluctuate based on the uncertainty in the number of future claims that will be filed and the cost to resolve those claims, which may be influenced by a number of factors, including the outcome of the ongoing broad-based settlement negotiations, defensive strategies, and the cost to resolve claims outside the broad-based settlement program. Of this amount, management expects to incur asbestos liability settlement costs and legal fees of approximately $1,500,000 over the next 12 months. Because payment of the liability is likely to extend over many years, management believes that the potential additional costs for claims will not have a material effect on the financial condition of the Company or its liquidity, although the effect of any future liabilities recorded could be material to earnings in a future period.

The Company is also involved in other unresolved legal actions that arise in the normal course of business. The most prevalent of these unresolved actions involve disputes related to product design, manufacture and performance liability. The Company's estimation of its product-related aggregate liability that is probable and estimable, in accordance with U.S. generally accepted accounting principles approximates $7,300,000, which has been reflected as a liability in the consolidated financial statements as ofSeptember 30, 2012.In some cases, we cannot reasonably estimate a range of loss because there is insufficient information regarding the matter. Management believes that the potential additional costs for claims will not have a material effect on the financial condition of the Company or its liquidity, although the effect of any future liabilities recorded could be material to earnings in a future period.

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Net Periodic Benefit Cost

6 Months Ended

Sep. 30, 2012

Net Periodic Benefit Cost [Abstract]

Postemployment Benefits Disclosure [Text Block]

9.       Net Periodic Benefit Cost

The following table sets forth the components of net periodic pension cost for the Company's defined benefit pension plans (in thousands):

		Three months ended				Six Months Ended
		September 30,				September 30,
		2012		2011		2012		2011
Service costs	$	613	$	845	$	1,226	$	1,691
Interest cost		2,469		2,507		4,938		5,014
Expected return on plan assets		(2,803)		(2,688)		(5,606)		(5,376)
Net amortization		1,497		1,004		2,995		2,008
Curtailment (see below)		-		-		-		1,172
Net periodic pension cost	$	1,776	$	1,668	$	3,553	$	4,509

The Company currently plans to contribute approximately $10,400,000 to its pension plans in fiscal 2013.

The following table sets forth the components of net periodic postretirement benefit cost for the Company's defined benefit postretirement plans (in thousands):

		Three months ended				Six Months Ended
		September 30,				September 30,
		2012		2011		2012		2011
Interest cost		78		120		156		239
Amortization of plan net losses		36		82		72		164
Net periodic postretirement cost	$	114	$	202	$	228	$	403

During the six months endedSeptember 30, 2011, the Company completed negotiations with one of its labor unions which resulted in an amendment to one of its pension plans. The Company recorded within cost of products sold for the six months ended September 30, 2011a curtailment charge of $1,172,000 resulting from the amendment.

For additional information on the Company's defined benefit pension and postretirement benefit plans, refer to the consolidated financial statements included in the Company's annual report on Form 10-K for the year ended March 31, 2012.

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Debt

6 Months Ended

Sep. 30, 2012

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

8. Debt

The Company entered into an amended, restated and expanded revolving credit facility dated December 31, 2009. The Revolving Credit Facility provides availability up to a maximum of $85,000,000 and has an initial term ending December 31, 2013.

Provided there is no default, the Company may request an increase in the availability of the Revolving Credit Facility by an amount not exceeding $65,000,000, subject to lender approval. The unused portion of the Revolving Credit Facility totalled $72,593,000 net of outstanding borrowings of $0 and outstanding letters of credit of $12,407,000 as of September 30, 2012. The outstanding letters of credit at September 30, 2012 consisted of $2,977,000 in commercial letters of credit and $9,430,000 of standby letters of credit.  Interest on the revolver is payable at varying Eurodollar rates based on LIBOR or a Base Rateplus a spread determined by the Company's total leverage ratio amounting to 150 or 50 basis points, respectively, based on the Company's leverage ratio at September 30, 2012. The Revolving Credit Facility is secured by all U.S. inventory, receivables, equipment, real property, subsidiary stock (limited to 65% of non-U.S. subsidiaries) and intellectual property.

The corresponding credit agreement associated with the Revolving Credit Facility places certain debt covenant restrictions on the Company, including certain financial requirements and restrictions on dividend payments, with which the Company was in compliance as of September 30, 2012. Key financial covenants include a minimum fixed charge coverage ratio of 1.25x, a maximum total leverage ratio, net of cash, of 3.50x and maximum annual capital expenditures of $18,000,000, excluding capital expenditures for a global ERP system.

The Company entered into a third amendment to its Revolving Credit Facility on July 15, 2011 to (i) make reductions in the 'Applicable Rate' grid, in recognition of improved market conditions, resulting in lower unused, Libor and Base Rate borrowing and letters of credit fees at various levels in the grid, based on the Total Leverage Ratio, (ii) amend the definition of Total Funded Indebtedness to exclude commercial letters of credit. Total funded indebtedness is used in the calculation of the Total Leverage Ratio covenant, (iii) allow for letters of credit to be issued for any period up to 5 days prior to the expiry date of the Revolving Credit Facility and a “basket” of $20,000,000 for letters of credit which may expire up to 1 year past the expiry date, (iv) permit a general lien “basket” of $2,500,000, (v) extend the expected date for consummation of a pre-approved specific acquisition and divestiture and (vi) increase the general Investments “basket” by $5,000,000 to $30,000,000.

The Company entered into a fourth amendment to its Revolving Credit Facility on February 13, 2012, in relation to a proposed change in its global legal entity structure, to (i) permit the Company to pledge 65% of the stock of a newly created Dutch holding company as consideration for release of the pledge of 65% of the stock of an existing non-U.S. subsidiary; (ii) increase the “basket” for investments in the Company's subsidiaries, that are not loan parties, by $20,000,000 to $30,000,000 and (iii) permit the newly created Dutch holding company to operate as a treasury center.

On January 25, 2011, the Company issued $150,000,000 principal amount of 7 7/8% Senior Subordinated Notes due 2019 in a private placement pursuant to Rule 144A under the Securities Act of 1933, as amended (Unregistered7 7/8% Notes). The offering price of the Unregistered 7 7/8% Notes was 98.545% of par after adjustment for original issue discount.  

Provisions of the Unregistered 7 7/8% Notes include, without limitation, restrictions on indebtedness, asset sales, and dividends and other restricted payments. Until February 1, 2014, the Company may redeem up to 35% of the outstanding Unregistered 7 7/8% Notes at a redemption price of 107.875% with the proceeds of equity offerings, subject to certain restrictions. On or after February 1, 2015, the Unregistered 7 7/8% Notes are redeemable at the option of the Company, in whole or in part, at a redemption price of 103.938%, reducing to 101.969% and 100% on February 1, 2016 and February 1, 2017, respectively and are due February 1, 2019. In the event of a Change of Control (as defined in the indenture for such notes), each holder of the Unregistered 7 7/8% Notes may require the Company to repurchase all or a portion of such holder's Unregistered 7 7/8% Notes at a purchase price equal to 101% of the principal amount thereof. The Unregistered 7 7/8% Notes are guaranteed by certain existing and future U.S. subsidiaries and are not subject to any sinking fund requirements.

On June 2, 2011 the Company exchanged $150,000,000 of its outstanding Unregistered 7 7/8% Notes due 2019 for a like principal amount of its 7 7/8% Notes due 2019, registered under the Securities Act of 1933, as amended (7 7/8% Notes).  All of the Unregistered 7 7/8% Senior Subordinated Notes due 2019 were exchanged in the transaction. The 7 7/8% Notes contain identical terms and provisions as the Unregistered 7 7/8% Notes.

The Company's Notes payable to banks consist primarily of draws against unsecured non-U.S. lines of credit.  The Company's other senior debt consists primarily of capital lease obligations.

Unsecured and uncommitted lines of credit are available to meet short-term working capital needs for certain of our subsidiaries operating outside of the U.S. The lines of credit are available on an offering basis, meaning that transactions under the line of credit will be on such terms and conditions, including interest rate, maturity, representations, covenants and events of default, as mutually agreed between our subsidiaries and the local bank at the time of each specific transaction. As of September 30, 2012, unsecured credit lines totaled approximately $8,948,000, of which $0 was drawn. In addition to the above facilities, one of our foreign subsidiaries has a credit line secured by a parent company guarantee. This credit line provides availability of up to $955,000, of which $0 was drawn as of September 30, 2012.

The Company entered into a fifth amended, restated and expanded revolving credit facility dated October 19, 2012 (New Revolving Credit Facility). The New Revolving Credit Facility provides availability up to a maximum of $100,000,000 and has an initial term ending October 31, 2017.

Provided there is no default, the Company may request an increase in the availability of the New Revolving Credit Facility by an amount not exceeding $75,000,000, subject to lender approval. Interest on the revolver is payable at varying Eurodollar rates based on LIBOR or a Base Rate plus a spread determined by the Company's total leverage ratio. The New Revolving Credit Facility is secured by all U.S. inventory, receivables, equipment, real property, subsidiary stock (limited to 65% of non-U.S. subsidiaries) and intellectual property.

The corresponding credit agreement associated with the New Revolving Credit Facility places certain debt covenant restrictions on the Company, including certain financial requirements and restrictions on dividend payments. Key financial covenants include a minimum fixed charge coverage ratio of 1.25x, a maximum total leverage ratio, net of cash, of 3.50x and maximum annual capital expenditures of $30,000,000.

Refer to the Company's consolidated financial statements included in its annual report on Form 10-K for the year ended March 31, 2012 for further information on its debt arrangements.

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Restructuring Charges

6 Months Ended

Sep. 30, 2012

Restructuring Charges [Abstract]

Restructuring And Related Activities Disclosure [Text Block]

12.       Restructuring Charges

During the six months endedSeptember 30, 2011, the Company initiated and completed employee workforce reductions at one of its European facilities. These reductions resulted in approximately $413,000 in one-time termination benefits recorded as restructuring costs which were fully paid by March 31, 2012.Total restructuring costs incurred totaled $430,000 for the six months endedSeptember 30, 2011.

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Income Taxes

6 Months Ended

Sep. 30, 2012

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

13.Income Taxes

Income tax expense as a percentage of income from continuing operations before income tax expense was 16% and 31% for the three month periods ended September 30, 2012 and 2011, respectively and 17% and 32% for the six-month periods then ended, respectively.  Typically these percentages vary from the U.S. statutory rate primarily due to varying effective tax rates at the Company's foreign subsidiaries, and the jurisdictional mix of taxable income for these subsidiaries.  We estimate that the effective tax rate related to continuing operations will be approximately 15% to 20% for fiscal 2013 based on the forecasted jurisdictional mix of taxable income.

During the fiscal year ended March 31, 2011, the Company recorded a non-cash charge of $42,983,000 included within its provision for income taxes.  This charge relates to the Company's determination that a full valuation allowance against its deferred tax assets generated in the U.S and three of the Company's international subsidiaries was necessary.  Accounting rules require a reduction of the carrying amounts of deferred tax assets by a valuation allowance if, based on the available and objectively verifiable evidence, it is more likely than not that such assets will not be realized.  The existence of cumulative losses for a certain threshold period is a significant form of negative evidence used in the assessment.  If a cumulative loss threshold is met, the accounting rules indicate that forecasts of future profitability are generally not sufficient positive evidence to overcome the presumption that a valuation allowance is necessary.

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Goodwill and Intangible Assets (Narratives) (Details) (USD $)	6 Months Ended
	Sep. 30, 2012
Goodwill And Intangible Assets Disclosure [Abstract]
Impairment charges related to goodwill or intangible assets	$ 0
2014	1,700,000
2015	1,700,000
2016	1,700,000
2017	1,700,000
2018	$ 1,700,000

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Fair Value Disclosure (Narratives) (Details)	6 Months Ended
	Sep. 30, 2012
Fair Value Disclosures [Abstract]
Fair Value, Held-to-maturity Securities, Valuation Techniques	0

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Fair value Measurements (Tables)

6 Months Ended

Sep. 30, 2012

Fair Value Disclosures [Abstract]

Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis [Table Text Block]

	Fair value measurements at reporting date using
				Quoted prices in		Significant other		Significant
				active markets for		observable		unobservable
		At September 30,		identical assets		inputs		inputs
Description		2012		(Level 1)		(Level 2)		(Level 3)
Assets/(Liabilities) measured at fair value:
Marketable securities	$	24,629	$	24,629	$	0	$	0
Derivative liabilities		(131)		0		(131)		0
Other equity investments		1,131		1,131		0		0
Assets/(Liabilities) disclosed at fair value:
Subordinated debt	$	(160,500)	$	0	$	(160,500)	$	0
Senior debt		(4,212)		0		(4,212)		0

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Net Periodic Benefit Cost (Tables)

6 Months Ended

Sep. 30, 2012

Pension Plans, Defined Benefit [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of Net Benefit Costs [Table Text Block]

		Three months ended				Six Months Ended
		September 30,				September 30,
		2012		2011		2012		2011
Service costs	$	613	$	845	$	1,226	$	1,691
Interest cost		2,469		2,507		4,938		5,014
Expected return on plan assets		(2,803)		(2,688)		(5,606)		(5,376)
Net amortization		1,497		1,004		2,995		2,008
Curtailment (see below)		-		-		-		1,172
Net periodic pension cost	$	1,776	$	1,668	$	3,553	$	4,509

Other Postretirement Benefit Plans, Defined Benefit [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of Net Benefit Costs [Table Text Block]

		Three months ended				Six Months Ended
		September 30,				September 30,
		2012		2011		2012		2011
Interest cost		78		120		156		239
Amortization of plan net losses		36		82		72		164
Net periodic postretirement cost	$	114	$	202	$	228	$	403

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Summary Financial Information (Consolidated Statements of Cash Flows ) (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Net Cash Provided By Used In Operating Activities [Abstract]
Net Cash Provided By Used In Operating Activities	$ 7,574	$ 4,418
Net Cash Provided By Used In Investing Activities [Abstract]
Purchase of marketable securities, net	1,165	(440)
Capital expenditures	(4,080)	(7,225)
Net Cash Provided By Used In Investing Activities	(1,433)	(6,376)
Proceeds from sale of businesses or assets	1,482	0
Net cash provided by investing activities from discontinued operations	0	409
Net Cash Provided By Used In Financing Activities [Abstract]
Net payments under lines-of-credit	(51)	(202)
Other	(180)	(242)
Net Cash Provided By Used In Financing Activities	(12)	1,289
Proceeds from exercise of stock options	219	1,733
Effect Of Exchange Rate On Cash And Cash Equivalents	(675)	(724)
Cash And Cash Equivalents Period Increase Decrease	5,454	(1,393)
Cash And Cash Equivalents At Carrying Value - Beginning of Period	89,473	80,139
Cash And Cash Equivalents At Carrying Value - End of Period	94,927	78,746
Parent Company [Member]
Net Cash Provided By Used In Operating Activities [Abstract]
Net Cash Provided By Used In Operating Activities	6,557	5,597
Net Cash Provided By Used In Investing Activities [Abstract]
Purchase of marketable securities, net	0	0
Capital expenditures	(3,354)	(6,006)
Net Cash Provided By Used In Investing Activities	(3,354)	(5,597)
Net cash provided by investing activities from discontinued operations		409
Net Cash Provided By Used In Financing Activities [Abstract]
Net payments under lines-of-credit		0
Other	213	217
Net Cash Provided By Used In Financing Activities	432	1,950
Proceeds from exercise of stock options	219	1,733
Effect Of Exchange Rate On Cash And Cash Equivalents	0	0
Cash And Cash Equivalents Period Increase Decrease	3,635	1,950
Cash And Cash Equivalents At Carrying Value - Beginning of Period	55,958	45,954
Cash And Cash Equivalents At Carrying Value - End of Period	59,593	47,904
Guarantor Subsidiaries [Member]
Net Cash Provided By Used In Operating Activities [Abstract]
Net Cash Provided By Used In Operating Activities	(1,276)	569
Net Cash Provided By Used In Investing Activities [Abstract]
Purchase of marketable securities, net		0
Capital expenditures	(211)	(454)
Net Cash Provided By Used In Investing Activities	1,271	(454)
Proceeds from sale of businesses or assets	1,482
Net Cash Provided By Used In Financing Activities [Abstract]
Net payments under lines-of-credit		0
Other	0	(116)
Net Cash Provided By Used In Financing Activities	0	(116)
Effect Of Exchange Rate On Cash And Cash Equivalents	0	0
Cash And Cash Equivalents Period Increase Decrease	(5)	(1)
Cash And Cash Equivalents At Carrying Value - Beginning of Period	5	7
Cash And Cash Equivalents At Carrying Value - End of Period	0	6
Non-Guarantor Subsidiaries [Member]
Net Cash Provided By Used In Operating Activities [Abstract]
Net Cash Provided By Used In Operating Activities	2,293	(1,748)
Net Cash Provided By Used In Investing Activities [Abstract]
Purchase of marketable securities, net	1,165	(440)
Capital expenditures	(515)	(765)
Net Cash Provided By Used In Investing Activities	650	(325)
Net Cash Provided By Used In Financing Activities [Abstract]
Net payments under lines-of-credit	(51)	(202)
Other	(393)	(343)
Net Cash Provided By Used In Financing Activities	(444)	(545)
Effect Of Exchange Rate On Cash And Cash Equivalents	(675)	(724)
Cash And Cash Equivalents Period Increase Decrease	1,824	(3,342)
Cash And Cash Equivalents At Carrying Value - Beginning of Period	33,510	34,178
Cash And Cash Equivalents At Carrying Value - End of Period	35,334	30,836
Consolidation, Eliminations [Member]
Net Cash Provided By Used In Operating Activities [Abstract]
Net Cash Provided By Used In Operating Activities	0
Net Cash Provided By Used In Financing Activities [Abstract]
Other	0
Net Cash Provided By Used In Financing Activities	0
Effect Of Exchange Rate On Cash And Cash Equivalents	$ 0

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Net Periodic Benefit Cost (Components of net periodic pension cost and net periodic postretirement benefit cost) (Details) (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Defined Benefit Plan Disclosure [Line Items]
Service costs			$ 1,226,000	$ 1,691,000
Interest cost			4,938,000	5,014,000
Expected return on plan assets			(5,606,000)	(5,376,000)
Net amortization			2,995,000	2,008,000
Defined Benefit Plan, Curtailments			1,172,000	1,172,000
Net periodic pension cost			3,553,000	4,509,000
Pension Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Service costs	613,000	845,000
Interest cost	2,469,000	2,507,000
Expected return on plan assets	(2,803,000)	(2,688,000)
Net amortization	1,497,000	1,004,000
Defined Benefit Plan, Curtailments	0	0
Net periodic pension cost	1,776,000	1,668,000
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	78,000	120,000	156,000	239,000
Net amortization			72,000	164,000
Net periodic pension cost	114,000	202,000	228,000	403,000
Amortization of plan net losses	$ 36,000	$ 82,000

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Consolidated Statements of Comprehensive (Loss) Income (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 8,252	$ 6,676	$ 16,688	$ 9,455
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent [Abstract]
Foreign currency translation adjustments	2,466	(6,579)	2,644	(4,450)
Change in derivatives qualifying as hedges, net of deferred tax expense of $(3), $17, $(3), and $154	(91)	65	188	72
Unrealized holding gain (loss) arising during the period, net of deferred taxes of $0 for all periods	521	(655)	(401)	(412)
Reclassification adjustment for gain included in net income, net of deferred tax expense of $0 for all periods	(170)	68	(253)	125
Total Adjustments	351	(587)	148	(287)
Total other comprehensive (loss) income	2,726	(7,101)	2,684	(4,665)
Comprehensive Income Net Of Tax	$ 10,978	$ (425)	$ (14,004)	$ 4,790

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Marketable Securities

3 Months Ended

6 Months Ended

Jun. 30, 2012

Sep. 30, 2012

Marketable Securitiesb [Abstract]

Available For Sale Securities [Text Block]

		Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Marketable securities	$	23,183	$	2,249	$	39	$	25,393

5.       Marketable Securities

All of the Company's marketable securities, which consist of equity securities and fixed income securities, have been classified as available-for-sale securities and are therefore recorded at their fair values with the unrealized gains and losses, net of tax, reported in accumulated other comprehensive income (loss) in the shareholders' equity section of the balance sheet unless unrealized losses are deemed to be other than temporary. In such instances, the unrealized losses are reported in the consolidated statements of operations and retained earnings within investment income. Estimated fair value is based on published trading values at the balance sheet dates. The cost of securities sold is based on the specific identification method. Interest and dividend income are included in investment income in the consolidated statements of operations and retained earnings.

The marketable securities are carried as long-term assets since they are held for the settlement of the Company's general and products liability insurance claims filed through CM Insurance Company, Inc., a wholly owned captive insurance subsidiary.  The marketable securities are not available for general working capital purposes.

In accordance with ASC Topic 320-10-35-30 “Investments – Debt & Equity Securities – Subsequent Measurement,” the Company reviews its marketable securities for declines in market value that may be considered other-than-temporary. The Company generally considers market value declines to be other-than-temporary if there are declines for a period longer than six months and in excess of 20% of original cost, or when other evidence indicates impairment.  There were no other-than-temporary impairments for the six months endedSeptember 30, 2012 or September 30, 2011.

The following is a summary of available-for-sale securities atSeptember 30, 2012 (in thousands):

				Gross Unrealized		Gross Unrealized		Estimated Fair
		Cost		Gains		Losses		Value
Marketable securities	$	22,153	$	2,538	$	62	$	24,629

The aggregate fair value of investments and unrealized losses on available-for-sale securities in an unrealized loss position at September 30,2012 are as follows (in thousands):

		Aggregate		Unrealized
		Fair Value		Losses
Securities in a continuous loss position for less than 12 months	$	-	$	-
Securities in a continuous loss position for more than 12 months		1,048		62
	$	1,048	$	62

Net realized gains related to sales of marketable securities were$170,000 and$58,000, in the three-month periods ended September 30, 2012andSeptember 30, 2011, respectivelyand $253,000 and $121,000 for the six month periods then ended, respectively.

The following is a summary of available-for-sale securities atMarch 31, 2012 (in thousands):

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Earnings Per Share (Tables)

6 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

		Three months ended			Six Months Ended
		September 30, 2012		September 30, 2011	September 30, 2012	September 30, 2011
Numerator for basic and diluted earnings per share:
Net income	$	8,252	$	6,676	16,688	9,455
					-	-
Denominators:					-	-
Weighted-average common stock outstanding – denominator for basic EPS		19,419		19,274	19,384	19,224
Effect of dilutive employee stock options and other share-based awards		162		197	162	287
Adjusted weighted-average common stock outstanding and assumed conversions – denominator for diluted EPS		19,581		19,471	19,546	19,511

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Derivative Instruments (Derivative instruments in the condensed consolidated balance sheet) (Details) (Foreign Exchange Contract [Member], USD $) In Thousands, unless otherwise specified	Sep. 30, 2012
Designated As Hedging Instrument [Member] | Other Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	$ 69
Designated As Hedging Instrument [Member] | Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	(247)
Derivatives Not Designated As Hedging Instruments [Member] | Other Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	59
Derivatives Not Designated As Hedging Instruments [Member] | Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	$ (12)

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New Accounting Standards

6 Months Ended

Sep. 30, 2012

New Accounting Standards [Abstract]

Schedule Of New Accounting Pronouncements And Changes In Accounting Principles [Text Block]

15.       Effects of New Accounting Pronouncements

In July 2012, the FASB issued ASU No. 2012-02, which updated the guidance in ASC Topic 350, Intangibles – Goodwill and Other. The amendments in this Update will allow an entity to first assess qualitative factors to determine whether it is necessary to perform a quantitative impairment test. Under these amendments, an entity would not be required to calculate the fair value of an indefinite-lived intangible asset unless the entity determines, based on qualitative assessment, that it is not more likely than not, the indefinite-lived intangible asset is impaired. The amendments include a number of events and circumstances for an entity to consider in conducting the qualitative assessment. The amendments are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted. The amendments are not expected to have an impact on our financial condition or results of operations.

In June 2011, the FASB issued ASU No. 2011-05, Presentation of Comprehensive Income (“ASU 2011-05”), effective for fiscal years, and interim periods within those years, beginning after December 15, 2011.  The issuance of ASU 2011-5 is intended to improve the comparability, consistency and transparency of financial reporting and to increase the prominence of items reported in other comprehensive income.  The guidance in ASU 2011-5 supersedes the presentation options in ASC Topic 220 and facilitates convergence of U.S. generally accepted accounting principles and International Financial Reporting Standards by eliminating the option to present components of other comprehensive income as part of the statement of changes in stockholders' equity and requiring that all nonowner changes in stockholders' equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements.  The adoption of ASU 2011-05 in fiscal 2013 did not have a significant impact on the Company's condensed consolidated financial statements.

In May 2011 the FASB issued ASU No. 2011-04, Fair Value Measurements (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in US GAAP and International Financial Reporting Standards (“IFRS”) (“ASU 2011-04”).  ASU 2011-04 represents the converged guidance of the FASB and the International Accounting Standards Board (the “Boards”) on fair value measurements.  The collective efforts of the Boards and their staffs, reflected in ASU 2011-04, have resulted in common requirements for measuring fair value and for disclosing information about fair value measurements, including a consistent meaning of the term “fair value.” The Boards have concluded the common requirements will result in greater comparability of fair value measurements presented and disclosed in financial statements prepared in accordance with GAAP and IFRS.  The amendments in this ASU are required to be applied prospectively, and are effective for interim and annual periods beginning after December 15, 2011.  The adoption of ASU 2011-04 in fiscal 2013 did not have a significant impact on the Company's condensed consolidated financial statements.

.