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Summary of Significant Accounting Policies (Tables)
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9 Months Ended |
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Dec. 31, 2012
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| Summary of Significant Accounting Policies [Abstract] |
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| Inventories |
The remaining portion of the inventory is valued at the lower of last-in, first-out (LIFO) cost or market. Inventories consisted of the following (in thousands):
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December 31, |
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March 31, |
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December 31, |
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2012 |
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2012 |
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2011 |
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Raw material
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$ |
9,665 |
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$ |
9,194 |
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$ |
9,593 |
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Work-in-process
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11,351 |
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15,470 |
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11,731 |
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Finished goods
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45,071 |
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47,007 |
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52,681 |
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$ |
66,087 |
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$ |
71,671 |
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$ |
74,005 |
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| Property, plant and equipment |
Property, plant and equipment are stated at cost and include the following (in thousands):
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December 31, |
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March 31, |
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December 31, |
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2012 |
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2012 |
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2011 |
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Land
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$ |
2,508 |
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$ |
2,508 |
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$ |
2,508 |
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Buildings, leasehold interests and improvements
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37,185 |
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37,064 |
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37,103 |
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Machinery, equipment and other
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101,172 |
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101,076 |
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101,644 |
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140,865 |
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140,648 |
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141,255 |
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Less—Accumulated depreciation and amortization
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(112,701 |
) |
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(111,066 |
) |
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(111,117 |
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Net property, plant and equipment
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$ |
28,164 |
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$ |
29,582 |
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$ |
30,138 |
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| Computation of basic and diluted 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, 2012 and 2011 (in thousands, except per share data):
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Three Months Ended |
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Nine Months Ended |
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December 31, |
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December 31, |
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2012 |
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2011 |
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2012 |
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2011 |
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Numerator:
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Income from continuing operations
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$ |
11,600 |
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$ |
12,109 |
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$ |
17,573 |
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$ |
18,976 |
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Income (loss) from discontinued operations, net of tax
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11 |
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(1,131 |
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55 |
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(82 |
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Net income
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$ |
11,611 |
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$ |
10,978 |
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$ |
17,628 |
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$ |
18,894 |
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Denominator:
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Weighted average shares outstanding for basic income per common share
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9,548 |
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9,723 |
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9,594 |
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9,733 |
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Effect of dilutive stock options
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6 |
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9 |
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3 |
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6 |
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Adjusted weighted average share outstanding for diluted income per common share
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9,554 |
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9,732 |
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9,597 |
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9,739 |
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Basic:
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Continuing operations
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$ |
1.21 |
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$ |
1.25 |
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$ |
1.83 |
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$ |
1.95 |
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Discontinued operations
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$ |
0.00 |
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$ |
(0.12 |
) |
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$ |
0.01 |
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$ |
(0.01 |
) |
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Total (1)
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$ |
1.22 |
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$ |
1.13 |
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$ |
1.84 |
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$ |
1.94 |
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Diluted:
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Continuing operations
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$ |
1.21 |
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$ |
1.24 |
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$ |
1.83 |
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$ |
1.95 |
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Discontinued operations
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$ |
0.00 |
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$ |
(0.12 |
) |
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$ |
0.01 |
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$ |
(0.01 |
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Total (1)
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$ |
1.22 |
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$ |
1.13 |
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$ |
1.84 |
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$ |
1.94 |
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| (1) |
Total net income per share for certain periods does not foot due to rounding. |
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