XML 32 R28.htm IDEA: XBRL DOCUMENT v2.4.0.6
Summary Financial Information (Tables)
3 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Mar. 31, 2012
Summary Financial Information [Abstract]          
Schedule Of Condensed Financial Statements [Table Text Block]
For the Three months ended December 31, 2012   Non    
  Parent Guarantors Guarantors Eliminations Consolidated
Net sales$ 63,278$ 34,323$ 68,439$ (12,815)$ 153,225
Cost of products sold  44,711  27,904  49,628  (12,815)  109,428
Gross profit  18,567  6,419  18,811  -  43,797
Selling, general and administrative expenses  9,732  4,866  14,517  -  29,115
Amortization of intangibles  26  -  467  -  493
   9,758  4,866  14,984  -  29,608
Income from operations  8,809  1,553  3,827  -  14,189
Interest and debt expense  3,863  (532)  82  -  3,413
Other (income) and expense, net  (991)  (180)  1,175  -  4
Income before income tax expense and equity in income of subsidiaries  5,937  2,265  2,570  -  10,772
Income tax expense (benefit)  250  (80)  1,023  -  1,193
Equity in income from continuing operations of subsidiaries   3,892  -  -  (3,892)  -
Net income$ 9,579$ 2,345$ 1,547$ (3,892)$ 9,579
           

For the Three Months Ended December 31, 2012     Non    
  Parent Guarantors Guarantors Eliminations Consolidated
           
Net income$ 9,579$ 2,345$ 1,547$ (3,892)$ 9,579
Other comprehensive income (loss), net of tax:          
Foreign currency translation adjustments  -  -  2,604  -  2,604
Change in derivatives qualifying as hedges, net of deferred tax expense  (161)  -  23  -  (138)
Adjustments:          
Unrealized holding gain arising during the period, net of deferred tax expense  -  -  194  -  194
Reclassification adjustment for gain included in net income, net of deferred tax expense  -  -  (253)  -  (253)
Total adjustments  -  -  (59)  -  (59)
Total other comprehensive income  (161)  -  2,568  -  2,407
Comprehensive income$ 9,418$ 2,345$ 4,115$ (3,892)$ 11,986
For the Three months ended December 31, 2011   Non    
  Parent Guarantors Guarantors Eliminations Consolidated
Net sales$ 55,631$ 34,900$ 65,124$ (12,905)$ 142,750
Cost of products sold  40,354  30,007  46,691  (12,905)  104,147
Gross profit  15,277  4,893  18,433  -  38,603
Selling, general and administrative expenses  9,357  5,004  13,224  -  27,585
Amortization of intangibles  28  -  457  -  485
   7,918  5,004  13,681  -  26,603
Income from operations  7,359  (111)  4,752  -  12,000
Interest and debt expense  2,862  642  86  -  3,590
Other (income) and expense, net  (180)  15  (1,606)  -  (1,771)
Income before income tax expense and equity in income of subsidiaries  4,677  (768)  6,272  -  10,181
Income tax expense   (807)  -  2,473  -  1,666
Equity in income from continuing operations of subsidiaries  3,031  -  -  (3,031)  -
Net income$ 8,515$ (768)$ 3,799$ (3,031)$ 8,515
           

For the Three Months Ended December 31, 2011     Non    
  Parent Guarantors Guarantors Eliminations Consolidated
           
Net income$ 8,515$ (768)$ 3,799$ (3,031)$ 8,515
Other comprehensive income (loss), net of tax:          
Foreign currency translation adjustments  -  -  (3,597)  -  (3,597)
Change in derivatives qualifying as hedges, net of deferred tax expense  (82)  -  46  -  (36)
Adjustments:          
Unrealized holding loss arising during the period, net of deferred tax expense  -  -  610  -  610
Reclassification adjustment for gain included in net income, net of deferred tax expense  -  -  32  -  32
Total adjustments  -  -  642  -  642
Total other comprehensive income (loss)  (82)  -  (2,909)  -  (2,991)
Comprehensive income (loss)$ 8,433$ (768)$ 890$ (3,031)$ 5,524

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 December 31, 2012 Parent Guarantors Guarantors Eliminations Consolidated
Current assets:          
Cash and cash equivalents$ 67,255$ -$ 44,682$ -$ 111,937
Trade accounts receivable  37,475  3,803  37,432  -  78,710
Inventories  29,851  16,343  55,337  -  101,531
Other current assets  4,402  534  4,175  -  9,111
Total current assets  138,983  20,680  141,626  -  301,289
Property, plant, and equipment, net  34,199  11,791  14,775  -  60,765
Goodwill and other intangibles, net  40,960  31,025  48,357  -  120,342
Intercompany  (184)  63,175  (61,728)  (1,263)  -
Other assets  6,400  783  26,163  -  33,346
Investment in subsidiaries  203,753  -  -  (203,753)  -
Total assets$ 424,111$ 127,454$ 169,193$ (205,016)$ 515,742
           
Current liabilities  34,755  11,374  38,155  (1,263)  83,021
Long-term debt, less current portion  148,345  1,731  1,150  -  151,226
Other non-current liabilities  51,551  6,782  33,702  -  92,035
Total liabilities  234,651  19,887  73,007  (1,263)  326,282
Shareholders' equity  189,460  107,567  96,186  (203,753)  189,460
Total liabilities and shareholders' equity$ 424,111$ 127,454$ 169,193$ (205,016)$ 515,742
           

For the Nine Months Ended December 31, 2012 Non    
  Parent Guarantors Guarantors Eliminations Consolidated
Net sales$ 180,008$ 117,522$ 195,625$ (40,445)$ 452,710
Cost of products sold  128,941  97,740  136,451  (40,445)  322,687
Gross profit  51,067  19,782  59,174  -  130,023
Selling, general and administrative expenses  30,061  15,997  42,594  -  88,652
Restructuring charges  -  -  -  -  -
Amortization of intangibles  73  -  1,408  -  1,481
   30,134  15,997  44,002  -  90,133
Income from operations  20,933  3,785  15,172  -  39,890
Interest and debt expense  9,961  152  305  -  10,418
Other (income) and expense, net  (1,161)  (164)  26  -  (1,299)
Income before income tax expense and equity in income of subsidiaries   12,133  3,797  14,841  -  30,771
Income tax (benefit) expense  17  -  4,487  -  4,504
Equity in income from continuing operations of subsidiaries   14,151  -  -  (14,151)  -
Net income$ 26,267$ 3,797$ 10,354$ (14,151)$ 26,267

For the Nine Months Ended December 31, 2012     Non    
  Parent Guarantors Guarantors Eliminations Consolidated
           
Net income$ 26,267$ 3,797$ 10,354$ (14,151)$ 26,267
Other comprehensive income (loss), net of tax:          
Foreign currency translation adjustments  -  -  (40)  -  (40)
Change in derivatives qualifying as hedges, net of deferred tax expense  (118)  -  (208)  -  (326)
Adjustments:  -  -  -  -  -
Unrealized holding gain arising during the period, net of deferred tax expense  -  -  489  -  489
Reclassification adjustment for gain included in net income, net of deferred tax expense  -  -  (400)  -  (400)
Total adjustments  - - - - 89 - - - 89
Total other comprehensive income (loss)  (118) - - - (159) - - - (277)
Comprehensive income$ 26,149$ 3,797$ 10,195$ (14,151)$ 25,990

For the Nine Months Ended December 31, 2012   Non    
  Parent Guarantors Guarantors Eliminations Consolidated
Operating activities:          
Net cash provided by (used for) operating activities$ 15,908$ (1,715)$ 12,094$ -$ 26,287
           
Investing activities:          
Purchase of marketable securities, net  -  -  2,183  -  2,183
Capital expenditures  (4,683)  (445)  (2,011)  -  (7,139)
Proceeds from sale of assets  -  2,357  -  -  2,357
Net cash (used for) provided by investing activities  (4,683)  1,912  172  -  (2,599)
           
Financing activities:          
Proceeds from stock options exercised  232  -  -  -  232
Net payments under lines-of-credit  -  -  (52)  -  (52)
Other  (160)  (202)  (596)  -  (958)
Net cash provided by (used for) financing activities  72  (202)  (648)  -  (778)
Effect of exchange rate changes on cash  -  -  (446)  -  (446)
Net change in cash and cash equivalents  11,297  (5)  11,172  -  22,464
Cash and cash equivalents at beginning of period  55,958  5  33,510  -  89,473
Cash and cash equivalents at end of period $ 67,255$ -$ 44,682$ -$ 111,937
           
For the Nine Months Ended December 31, 2011     Non    
  Parent Guarantors Guarantors Eliminations Consolidated
           
Net income$ 17,970$ 329$ 10,305$ (10,634)$ 17,970
Other comprehensive income (loss), net of tax:          
Foreign currency translation adjustments  -  -  (8,047)  -  (8,047)
Change in derivatives qualifying as hedges, net of deferred tax expense  (10)  -  46  -  36
Adjustments:          
Unrealized holding loss arising during the period, net of deferred tax expense  -  -  198  -  198
Reclassification adjustment for gain included in net income, net of deferred tax expense  -  -  157  -  157
Total adjustments  -  -  355  -  355
Total other comprehensive income (loss)  (10)  -  (7,646)  -  (7,656)
Comprehensive income$ 17,960$ 329$ 2,659$ (10,634)$ 10,314

For the Nine Months Ended December 31, 2011   Non    
  Parent Guarantors Guarantors Eliminations Consolidated
Operating activities:          
Net cash provided by (used for) operating activities$ 8,044$ 2,942$ 2,477$ -$ 13,463
           
Investing activities:          
Purchase of marketable securities, net  -  -  1,244  -  1,244
Capital expenditures  (8,553)  (702)  (1,209)  -  (10,464)
Proceeds from sale of real estate, net  1,971  -  -  -  1,971
Purchase of business, net of cash acquired  -  -  (3,356)  -  (3,356)
Net cash provided by investing activities from discontinued operations  409  -  -  -  409
Net cash used for investing activities  (6,173)  (702)  (3,321)  -  (10,196)
           
Financing activities:          
Proceeds from stock options exercised  1,733  -  -  -  1,733
Net payments under lines-of-credit  -  -  (238)  -  (238)
Other  324  (177)  (311)  -  (164)
Net cash provided by (used for) financing activities  2,057  (177)  (549)  -  1,331
Effect of exchange rate changes on cash  -  -  (2,704)  -  (2,704)
Net change in cash and cash equivalents  3,928  2,063  (4,097)  -  1,894
Cash and cash equivalents at beginning of period  45,954  7  34,178  -  80,139
Cash and cash equivalents at end of period $ 49,882$ 2,070$ 30,081$ -$ 82,033
           
           
      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