Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2017

Inventories consisted of the following (in thousands):



	March 31,
	2017		2016
Raw material	$	11,210	$	11,392
Work-in-process	18,316		17,745
Finished goods	75,732		43,885
	$	105,258	$	73,022

Property, plant and equipment

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



	March 31,
	2017			2016
Land	$	5,838		$	2,508
Buildings, leasehold interests and improvements	40,661			34,317
Machinery, equipment and other	89,917			87,675
	136,416			124,500
Less – Accumulated depreciation and amortization	(100,652		)	(97,447		)
Net property, plant and equipment	$	35,764		$	27,053

Straight-line method and is based on estimated useful lives or terms of leases

Depreciation is provided generally on the straight-line method and is based on estimated useful lives or terms of leases as follows:



Buildings, leasehold interests and improvements			Lease term to 45 years
Machinery, equipment and other			3 to 15 years

Computation of basic and diluted net income per common share

The following table sets forth the computation of basic net income per common share and diluted net income per common share for the years ended March 31, 2017, 2016 and 2015.



	For the Years Ended March 31,
	2017		2016		2015
	(in thousands, except per share amounts)
Numerator:
Net income	$	28,504	$	17,236	$	16,954

Denominator:
Weighted average shares outstanding for basic income per common share	9,074		9,147		9,326
Effect of dilutive stock options	41		92		84
Adjusted weighted average shares outstanding for diluted income per common share	9,115		9,239		9,410

Basic net income per common share	$	3.14	$	1.88	$	1.82
Diluted net income per common share	$	3.13	$	1.87	$	1.80

Supplemental schedule of cash flow information

Supplemental Schedule of Cash Flow Information



	For the Years Ended March 31,
	2017		2016		2015
	(in thousands)
Cash paid during the year for:
Interest	$	264	$	210	$	254
Income taxes	$	2,270	$	9,736	$	6,215

Details of acquisitions:
Fair value of assets acquired	$	50,445	$	20,796	$	18,128
Liabilities assumed	15,416		1,251		204
Net assets acquired	35,029		19,545		17,924
Less cash acquired	—		—		2,778
Less gain on bargain purchases	19,990		—		—
Net cash paid for acquisitions	$	15,039	$	19,545	$	15,146