Summary of Significant Accounting Policies (Tables)

9 Months Ended

Dec. 31, 2014

Inventories consisted of the following (in thousands):



	December 31, 2014		March 31, 2014		December 31, 2013
Raw material	$	9,349	$	9,366	$	10,821
Work-in-process	10,831		14,418		11,393
Finished goods	42,356		35,468		42,942
	$	62,536	$	59,252	$	65,156

Property, Plant and Equipment

Property, plant and equipment are stated at cost and include the following (in thousands):



	December 31, 2014			March 31, 2014			December 31, 2013
Land	$	2,508		$	2,508		$	2,508
Buildings, leasehold interests and improvements	35,445			37,183			37,202
Machinery, equipment and other	89,538			93,928			101,507
	127,491			133,619			141,217
Less - Accumulated depreciation and amortization	(101,716		)	(106,556		)	(113,664		)
Net property, plant and equipment	$	25,775		$	27,063		$	27,553

Net Income Per Common Share

The following table sets forth the computation of basic and diluted net income per common share for the three- and nine months ended December 31, 2014 and 2013 (in thousands, except per share data):



	Three Months Ended December 31,				Nine Months Ended December 31,
	2014		2013		2014		2013
Numerator:
Income from continuing operations	$	9,768	$	10,988	$	18,290	$	20,167
Discontinued operations, net of tax	—		19		—		131
Net income	$	9,768	$	11,007	$	18,290	$	20,298

Denominator:
Weighted average shares outstanding for basic income per common share	9,331		9,296		9,321		9,420
Effect of dilutive stock options	89		45		82		47
Adjusted weighted average share outstanding for diluted income per common share	9,420		9,341		9,403		9,467

Basic:
Continuing operations	$	1.05	$	1.18	$	1.96	$	2.14
Discontinued operations	$	—	$	—	$	—	$	0.01
Total	$	1.05	$	1.18	$	1.96	$	2.15
Diluted:
Continuing operations	$	1.04	$	1.18	$	1.95	$	2.13
Discontinued operations	$	—	$	—	$	—	$	0.01
Total	$	1.04	$	1.18	$	1.95	$	2.14