Subsequent Events
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6 Months Ended |
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Sep. 30, 2012
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Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS On October 16, 2012, the Company announced that it had entered into a definitive agreement to acquire the Defense Systems Engineering and Support, or DSES, division of ARINC Incorporated. The Company expects to complete the acquisition of 100% of the membership interests of the entity that owns DSES in the third quarter of fiscal 2013. Pursuant to the terms of the definitive agreement, the Company will pay approximately $154 million in cash to ARINC Incorporated. The acquisition of DSES will be accounted for under the purchase method of accounting which requires the total purchase consideration to be allocated to the assets acquired and liabilities assumed based on estimates of fair value. The excess of the purchase consideration over the amounts assigned to tangible and intangible assets acquired and liabilities assumed will be recognized as goodwill. Of the total transaction costs of $3.5 million to $4.0 million expected to be incurred during fiscal 2013, $2.6 million has been accrued and recognized as a component of general and administrative expenses as of September 30, 2012. On October 29, 2012, our Board of Directors authorized and declared a regular quarterly cash dividend in the amount of $0.09 per share. The quarterly dividend is payable on November 30, 2012 to shareholders of record on November 13, 2012. |