10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)
þ	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended March 31, 2015

OR

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number: 0-18706

Black Box Corporation

(Exact name of registrant as specified in its charter)

Delaware	95-3086563
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
1000 Park Drive, Lawrence, Pennsylvania	15055
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: 724-746-5500

Securities registered pursuant to Section 12(b) of the Act:

(Title of each class)	(Name of each exchange on which registered)
Common Stock, $.001 par value	The NASDAQ Global Market

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. o Yes þ No

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. o Yes þ No

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. þ Yes o No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). þ Yes o No

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. þ

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check One):

Large accelerated filer o	Accelerated filer þ	Non-accelerated filer o	Smaller reporting company o
		(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). o Yes þ No

The aggregate market value of the voting stock held by non-affiliates of the registrant as of September 26, 2014 (based on closing price of such stock as reported by NASDAQ on such date) was $364,552,160. For purposes of this calculation only, directors and executive officers of the registrant and their affiliates are deemed to be affiliates of the registrant.

As of April 20, 2015, there were 15,365,280 shares of common stock, par value $.001 (the "common stock"), outstanding.

DOCUMENTS INCORPORATED BY REFERENCE

Proxy Statement for 2015 Annual Meeting of Stockholders (the "Proxy Statement") – Part III

BLACK BOX CORPORATION

FOR THE FISCAL YEAR ENDED MARCH 31, 2015

INDEX

		Page
PART I
Item 1.	Business	3
Item 1A.	Risk Factors	5
Item 1B.	Unresolved Staff Comments	7
Item 2.	Properties	7
Item 3.	Legal Proceedings	7
Item 4.	Mine Safety Disclosures	7
	Executive Officers of the Registrant	8
	Directors of the Registrant	8
PART II
Item 5.	Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	9
Item 6.	Selected Financial Data	11
Item 7.	Management's Discussion and Analysis of Financial Condition and Results of Operations	12
Item 7A.	Quantitative and Qualitative Disclosures about Market Risk	24
Item 8.	Financial Statements and Supplementary Data	26
Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	55
Item 9A.	Controls and Procedures	56
Item 9B.	Other Information	56
PART III
Item 10.	Directors, Executive Officers and Corporate Governance	56
Item 11.	Executive Compensation	56
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	57
Item 13.	Certain Relationships and Related Transactions, and Director Independence	57
Item 14.	Principal Accounting Fees and Services	57
PART IV
Item 15.	Exhibits and Financial Statement Schedules	57
	Signatures	60
	Exhibit Index	60

2

PART I

Item 1. Business.

Overview

Black Box Corporation ("Black Box," "we," the "Company," "our" or “us”) is a leading technology solutions provider dedicated to helping customers design, build, manage, and secure their IT infrastructure. Offerings under our Products platform include IT infrastructure, specialty networking, multimedia and keyboard/video/mouse ("KVM") switching. Offerings under our Services platform include unified communications, data infrastructure and managed services. We employed 3,803 and 3,959 employees as of March 31, 2015 and March 31, 2014, respectively.

We participate in the worldwide communications, network infrastructure and managed services markets. The offerings of our Products platform are sold by manufacturers and integrators and are distributed through value-added resellers, direct marketing manufacturers, mass merchandisers, web retailers and others. We believe that we compete well in both markets on the basis of our solution features, technical capabilities, service levels and price. The offerings of our Services platform are distributed to these markets primarily through value-added resellers, manufacturers, large system integrators and other technical services companies.

We conduct business globally and manage our business on a geographic-service type basis consisting of four operating segments which are (i) North America Products, (ii) North America Services, (iii) International Products and (iv) International Services. Revenues within our North America segments are primarily attributed to the United States while revenues within our International segments are attributed to countries in Europe, the Pacific Rim and Latin America. Through Fiscal 2013, the Company was organized on a geographic-basis with the following three segments: (i) North America, (ii) Europe and (iii) All Other. As a result of this segment change, which was the result of a new management team and renewed business strategy and became effective on April 1, 2013 on a prospective basis, the Company has restated prior periods to conform to the current year's presentation. For revenues and other information (including large customers) regarding these reporting segments, see Note 15 of the Notes to the Consolidated Financial Statements. For information regarding backlog, see Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.

Products and Services Platforms

Since our founding in 1976, we have built robust operating platforms that allow us to identify customer needs, and then design, source, implement and support the appropriate solutions. Our two platforms for serving customers and generating growth are as follows:

Products Platform

Under our Products platform ("Products"), we provide networking solutions through the sale of products for IT infrastructure, specialty networking, multimedia and KVM switching.

Our Products' revenues are generated from sales to end-users, collaboration with key channel partners and system integrators and through a global distribution network. Products sells through a direct sales team as well as through its internet site and catalogs. In order to meet client demand, we keep a moderate level of inventory which consumes part of our working capital. The market for these products is a highly fragmented and competitive. The Company has participated in this market for 39-years and has earned a reputation for providing high quality products, rapid order fulfillment and free 24/7/365 technical support. With an average order size of less than one thousand dollars, the Company's Products revenue is primarily driven by general information technology spending rather than capital spending.

In order to procure our Products, we utilize a network of original equipment manufacturers ("OEMs") and suppliers throughout the world. Each supplier is monitored for quality, delivery performance and cost through a well-established certification program. This network has manufacturing and engineering capabilities to customize products for specialized applications. Black Box operates its own manufacturing and assembly operation at its Lawrence, Pennsylvania location. The Company chooses to manufacture certain products in-house when outside sourcing is not economical. Sourcing decisions of in-house versus third-party suppliers are based upon a balance of quality, performance, delivery and cost factors.

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Services Platform

Our Services platform ("Services") is comprised of engineering and design, network operations centers, technical certifications, national and international sales teams, remote monitoring, on-site service teams and technology partner centers of excellence which includes dedicated sales and engineering resources. The primary services offered through this platform include communications lifecycle services, unified communications, structured cabling, video/AV services, in-building wireless and data center services.

The Company generates revenues in its Services business from the design, sale and/or installation of new communications and network infrastructure systems, the support of existing systems and moves, adds and changes ("MAC work"). We periodically generate revenues from contracts performed over time that may result in an asset on our balance sheet for multiple periods constituting part of our working capital. We have not experienced significant collectability issues related to such contracts. For the sale and implementation of new communications systems or other major projects, most significant orders are subject to competitive bidding processes and, generally, competition can be significant for such new orders. The Company is continually bidding on new projects to maintain and grow service revenues. Projects account for the majority of Services revenues and are primarily driven by the overall economic environment and information technology capital spending. The Company also serves government clients whose revenues are not as dependent on the overall economic environment as commercial clients but are subject to governmental budgetary constraints.

The Company routinely competes against original equipment manufacturers, large system integrators and local or regional manufacturer-specific channel partners in the Services markets for enterprise clients. The Company believes that it favorably differentiates against this competition through its technology-independent approach which draws the appropriate product from our portfolio of different partner solutions, broad geographic footprint and deep industry and technical expertise. Through its network of operational centers and network operations centers, the Company can provide clients with both on-site and remote services.

Management has initiated programs that it believes will leverage these platforms, introduce the Company into new markets and increase the number of offerings that it can provide to its existing and new clients.

Key Differentiators

Our platforms introduce scale, flexibility and leverage to the business, and provide the following competitive advantages:

• A diversified client base: We have built a diversified client base that ranges from small organizations to many of the world's largest corporations and institutions. Black Box clients participate in many industries, including government, healthcare, business services, manufacturing, retail, technology and banking, among others. Revenues from our clients are segmented with approximately 60% from large companies (i.e., revenues greater than $1 billion, including federal governments), approximately 20% from medium-sized companies (i.e., revenues between $50 million and $1 billion, including state governments) and approximately 20% from small companies (i.e., revenues less than $50 million, including local governments). We strive to develop extensive and long-term relationships with high-quality clients as we believe that satisfied clients will demand quality services and product offerings even in economic downturns. Also, we believe that our distinctive portfolio of products and services will allow us to leverage the relationship and introduce additional offerings to satisfied clients.

• Key relationships with leading technology partners: We have built long-term relationships with all major communications equipment manufacturers and we are a top partner with the market leaders.

• Broad geographic footprint: We have built a global footprint with offices throughout the world.

• Deep organic resources: We have approximately 3,800 team members world-wide, with the experience and certifications to serve our clients with on-site and remote capabilities.

• Dedicated sales force: We have a team of approximately 400 direct sales people world-wide.

• Strong financial position: We have a stable balance sheet and have generated positive cash flow for 39 consecutive years.

Strategic Focus

We believe that the services and products that we provide enable our clients to fully optimize their communications investment. Our strategy is based on the following core beliefs about our clients and the markets we serve:

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• Enablement: Communication is an organization's most important process. When we enable it, we create value.

• Independence: Client-focused solutions are better than channel-focused solutions.

• Interoperability: Business leaders will choose best of breed solutions and require operational integration.

• Innovation: A dynamic communications market requires partners and process to adapt and transform.

Our overall business growth strategy includes the following four areas of focus:

• Strengthen and expand our portfolio of high-value communication solutions.

• Leverage centralized expertise with local skills and relationships.

• Realign organizational structure and incentives.

• Implement a consistent, comprehensive market penetration approach.

We are actively operating programs that reflect our commitment to this strategy. These programs will continue to diversify our offerings and will reflect client demand in the rapidly changing communications market.

Our fiscal year ends on March 31. References to "Fiscal Year" or "Fiscal" mean our fiscal year ended March 31 for the year referenced. All dollar amounts are in thousands except for per share amounts or unless otherwise noted. We were incorporated in Delaware in 1976, and our headquarters is near Pittsburgh in Lawrence, Pennsylvania. Our mailing address is 1000 Park Drive, Lawrence, Pennsylvania 15055 and our phone number is (724) 746-5500. Our website is http://www.blackbox.com. Through the Investor Relations section of our website, we make available the following filings as soon as practicable after they are electronically filed with the Securities and Exchange Commission ("SEC"): our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and any amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act. All such filings are available free of charge. Also available on our website is the Company's Code of Business Conduct and Ethics, Code of Ethics for Senior Financial Officers, Corporate Governance Guidelines and the charter of each committee of the Company's Board of Directors (the "Board") each of which is available free of charge.

Item 1A. Risk Factors.

The following are some of the potential risk factors that could cause our actual results to differ materially from those projected in any forward-looking statements. You should carefully consider these factors, as well as the other information contained in this document, when evaluating your investment in our securities. The following list of important factors is not all-inclusive.

We are dependent upon certain key supply chain and distribution agreements. We have significant arrangements with a small number of technology suppliers. If we experience disruptions in our supply chain with these manufacturers for any reason or lose our distribution rights, we may not be able to fulfill client commitments with an acceptable alternative or we may not be able to obtain alternative solutions at similar costs.

We are dependent upon the demand for our products and services. We and our competitors in the industry are dependent on the demand for the products and services that we deliver. Changes in technology or other unforeseen developments within our industry could result in decreased demand for our products and services. We cannot guarantee that historical levels of demand will continue or increase in the future.

We face intense competition. We operate in a highly competitive industry. Our competitors, who include our technology suppliers and certain clients, may be able to deliver products and services at better prices or more quickly due to factors beyond our control. New competitors may also emerge in the future, which may threaten our ability to sustain or grow our market share. We cannot guarantee that we can continue to compete effectively in the future and still be able to sustain our historical levels of profit margin.

5

Our financial results are dependent on our economic environments. We, our clients or our vendors may experience economic hardships due to inflation or recession, changes in laws and regulations, business disruptions due to natural disasters, acts of terrorism or war or other factors that are beyond our control and that could negatively impact our financial condition or our ability to meet our future financial goals.

Our ability to experience organic growth is dependent upon successful execution of new initiatives. On April 1, 2013, we experienced a change in management, including a new Chief Executive Officer. In connection therewith, we re-aligned our organizational structure and introduced new programs in order to better capitalize on internal assets and expertise, which we believe will enable us to introduce new product and service offerings as well as to support additional offerings for our clients resulting in increased revenues (including organic growth) and profitability. The failure of these programs could have a material adverse effect on our ability to increase revenues and profitability.

Our business operations could be disrupted if our information technology systems fail to perform adequately. The efficient operation of our business depends on our information technology systems. We rely on our information technology systems to effectively manage our business data, communications, order entry and fulfillment and other business processes. The failure of our information technology systems to perform as we anticipate could disrupt our business and could result in transaction errors, processing inefficiencies and the loss of sales and customers, causing our business and results of operations to suffer. In addition, our information technology systems may be vulnerable to damage or interruption from circumstances beyond our control, including fire, natural disasters, power outages, systems failures, security breaches and viruses. Any such damage or interruption could have a material adverse effect on our business.

Our revenue is dependent upon repeat client business and generally is not subject to long-term contracts. A majority of our revenue is generated through individual sales of products and services and less than twenty (20%) of our revenue is generated from long-term maintenance contracts. We depend on repeat client business as well as our ability to develop new client business to sustain and grow our revenue. Although our focus on delivering high-quality sales and service has proven to be successful in the past, we cannot guarantee that we will be able to grow or even sustain our current level of revenue in the future.

A significant part of our business involves public sector clients which provides unique risks. Approximately 20% of our revenues is derived from sales to agencies and departments of federal, state and local governments. Legislatures typically appropriate funds for a given program annually. These appropriations may be influenced by, among other things, the state of the economy, competing priorities for appropriation, changes in administration or control of legislatures, the timing and amount of tax receipts and the overall level of government expenditures. A decrease in appropriations for certain programs could have a material adverse effect on our business.

In addition, our revenues from sales to these public sector clients are made through various direct contracts, through reseller agreements with government contractors and through open market sales. Government contracting is a highly-regulated area. Failure to comply with regulations or contracts could subject us to fines, penalties, suspension or debarment from doing business with such clients, which could have a material adverse effect on our business.

We are dependent upon the retention of our key personnel. The success of our business depends on our ability to attract and retain quality employees, executives and directors. We offer comprehensive salary and benefit packages including long-term incentives as a means of attracting and retaining personnel. We face pressure to maintain our profit margins and remain competitive in our industry while we compete for personnel in our local markets with a variety of different businesses that may be able to offer more attractive incentives due to their individual financial situations. We cannot guarantee that we will continue to attract and retain personnel with our current incentives and at costs that are consistent with our projected profit margins.

We are dependent upon future mergers and acquisitions, including successful integration, for a portion of our growth. A key component of our long-term growth strategy is through strategic mergers and acquisitions and our future financial results are dependent upon the successful integration of those acquisitions. We may not continue to be successful in our search for potential acquisition candidates that are acceptable for our business model, or we may not be successful in our attempts to acquire new businesses that we have identified as attractive acquisition candidates. We cannot guarantee that we will meet our projected growth targets in the future if we are unsuccessful in our efforts to acquire additional businesses.

We can provide no assurance that we will continue to have adequate liquidity. Although we generate positive cash flow and have access to a significant amount of additional credit, we cannot be certain that our current liquidity situation will be adequate in future periods. We cannot guarantee that we will be able to maintain our positive cash flow position, obtain additional credit or raise additional capital which may restrict our ability to operate or to pursue new business opportunities in the future.

6

We are subject to the risks of international operations. We operate in countries outside of the United States. Our operations or our financial condition may be negatively affected by events surrounding our international operations such as changes in laws and regulations, political or economic instability, currency fluctuations, supply chain disruptions, acts of terrorism, natural disasters or other political, economic or environmental factors. We cannot rely on the past results of our international operations as an indicator of future results or assure you that we will not be adversely affected by those factors inherent with international operations.

Our stock price fluctuates. Our stock price is affected by a number of factors, including quarterly variations in our financial results. As a result, our stock price is subject to volatility.

We have a significant amount of goodwill and could accumulate additional goodwill that could be subject to impairment. As a result of our past acquisition program and given the service nature of our business, we have accumulated goodwill. Part of our long-term growth strategy is to acquire strategic companies in high growth markets and given the potential service nature of those future acquisitions, we will accumulate additional goodwill. We conduct an impairment assessment of the carrying value of our goodwill at least annually and we monitor market conditions to determine if any additional interim review of goodwill is warranted. Deterioration in the market or under performance of past or future acquisitions could result in a future impairment. In the event that we determine that our goodwill is impaired in the future, we would need to recognize a non-cash impairment charge, which could have a material adverse effect on our consolidated balance sheet and results of operations. The information set forth under the caption “Goodwill” in “Management's Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 of this Annual Report is incorporated herein by reference in order to supplement this information.

Item 1B. Unresolved Staff Comments.

None.

Item 2. Properties.

The Company’s worldwide headquarters and certain U.S. operations, including the Products and Services platforms, are located in Lawrence, Pennsylvania (located 20 miles south of Pittsburgh) in a 352,000 square foot owned facility on 84 acres.

The Company owns or leases additional offices or facilities throughout the world, none of which are material in nature to Black Box.

The Company believes that its properties are adequate for its present and foreseeable needs.

Item 3.Legal Proceedings.

The Company is involved in, or has pending, various legal proceedings, claims, suits and complaints arising out of the normal course of business. Based on the facts currently available to the Company, Company management ("Management") believes these matters are adequately provided for, covered by insurance, without merit or not probable that an unfavorable material outcome will result.

Item 4. Mine Safety Disclosures.

Not applicable.

7

Executive Officers of the Registrant

The executive officers of the Company and their respective ages and positions are as follows:

Name	Age	Position with the Company
Michael McAndrew	55	President and Chief Executive Officer
Timothy C. Huffmyer	41	Vice President, Chief Financial Officer and Treasurer (Principal Accounting Officer)
Ronald Basso	55	Executive Vice President of Business Development, General Counsel & Secretary

The following is a biographical summary of the experience of the executive officers of the Company:

MICHAEL MCANDREW, 55, was selected as a member of the Board on April 1, 2013 and was named Chief Executive Officer effective that same date. On October 2, 2012, he was promoted to President and Chief Operating Officer. On May 11, 2010, he was promoted to Executive Vice President. He had previously been promoted to the position of Vice President and Chief Financial Officer on December 13, 2002. He became Secretary and Treasurer on January 31, 2003. He was Manager of Corporate Planning and Analysis with the Company prior to December 13, 2002. Mr. McAndrew has been with the Company for 25 years.

TIMOTHY C. HUFFMYER, 41, was named Vice President, Chief Financial Officer and Treasurer (and, in those roles, he serves as the Company's principal financial officer and principal accounting officer) on October 2, 2012. Mr. Huffmyer was promoted to Director of Finance in February, 2008. He served as Corporate Controller from June, 2004 and in other finance roles prior thereto. Mr. Huffmyer has been with the Company for 11 years.

RONALD BASSO, 55, was named Executive Vice President of Business Development, General Counsel and Secretary on January 28, 2013. Mr. Basso was a shareholder of the law firm of Buchanan Ingersoll & Rooney PC, which he joined in 1985, where he served as the Company's lead engagement partner.

Directors of the Registrant

The following sets forth certain information concerning the members of the Board:

RICHARD L. CROUCH, 68, was elected as a director on August 10, 2004. Mr. Crouch was a General Partner with the firm of PricewaterhouseCoopers LLP from 1979 to 2004, having served as an Audit Partner principally assigned to public companies. He served in various capacities for the firm, including service as a regional accounting, auditing and SEC services consultant. He retired from the firm on July 2, 2004.

RICHARD C. ELIAS, 61, was selected to be a director on November 3, 2014. Mr. Elias retired from PPG Industries, Inc. ("PPG"), a global supplier of paints, coatings, optical products, specialty materials, chemicals, glass and fiber glass in April 2014. Prior to his retirement, Mr. Elias served as the Senior Vice President - Optical and Specialty Materials of PPG from 2008 to 2014, and Vice President, Optical Products of PPG from 2000 to 2008. Mr. Elias also served as the President, and then Chief Executive Officer, of Transitions Optical, Inc., a subsidiary and then joint venture of PPG, from 1995 to 2014. Mr. Elias is a director of Universal Display Corporation.

THOMAS W. GOLONSKI, 72, was selected to be a director on February 11, 2003 and was elected by our stockholders on August 12, 2003. Mr. Golonski served as Chairman, President and Chief Executive Officer of National City Bank of Pennsylvania and Executive Vice President of National City Corporation from 1996 to 2005. He retired from National City in 2005. He is a director of several educational and health care organizations and active in other charitable organizations.

THOMAS G. GREIG, 67, was elected as a director on August 10, 1999 and appointed as non-executive Chairman of the Board in May 2004. Mr. Greig has been a Senior Managing Director of Liberty Capital Partners, a private equity partnership, since 1998. He is also a director of publicly-held Rudolph Technologies, Inc. and a number of privately-held companies.

JOHN S. HELLER, 61, was selected to be a director on March 27, 2013 and was elected by our stockholders on August 6, 2013. Mr. Heller retired from Caterpillar Inc., a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives, in February 2012. He held a number of positions of increasing responsibility at Caterpillar during a 38-year career, last serving as Vice President and Chief Information Officer for more than 5 years.

8

WILLIAM H. HERNANDEZ,67, was selected to be a director on December 3, 2009 and was elected by our stockholders on August 10, 2010. Mr. Hernandez was the Senior Vice President, Finance and Chief Financial Officer of PPG Industries, Inc. (“PPG”), a global supplier of paints, coatings, optical products, specialty materials, chemicals, glass and fiber glass, from 1995 until he retired on October 15, 2009. Prior to assuming those duties in 1995, he served as PPG’s Controller from 1990 to 1994 and as Vice President and Controller from 1994. From 1974 until 1990, he held a number of positions at Borg-Warner Corporation, a supplier of motor vehicle parts and systems. He is a Certified Management Accountant and a director of Albermarle Corporation, Northrop Grumman Corporation and USG Corporation, all publicly-held companies.

MICHAEL MCANDREW, 55, was selected to be a director effective April 1, 2013 in connection with his appointment as the Chief Executive Officer of the Company, which became effective on the same date. Mr. McAndrew has been with the Company for 25 years. In October 2012, he was named President and Chief Operating Officer of the Company. Prior to that, he served as Executive Vice President and Chief Financial Officer from May 2010 to October 2012, and Vice President and Chief Financial Officer, from December 2002 to May 2010. He also served as Secretary and Treasurer from January 2003 to October 2012. Prior to 2002, he held the position of Manager of Corporate Planning and Analysis.

JOEL T. TRAMMELL, 50, was selected to be a director on March 27, 2013 and was elected by our stockholders on August 6, 2013. Mr. Trammell is the founder and Chief Executive Officer of Khorus, Inc., a provider of software-based management systems, since 2013. He also has been a Managing Partner of Lone Rock Technology Group, a private equity firm, since 2011, and a Managing Partner of Lake Austin Advisors, a hedge fund, since 2013. He was a founder and the Chief Executive Officer of CacheIQ, Inc., a network computing company, from June 2010 until it was acquired by NetApp, Inc. in November 2012. Previously, he was a founder and served as the Chief Executive Officer of NetQoS, Inc., a network management software and services company, from June 2000 to November 2009.

PART II

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.

Common Stock Information

The common stock is traded on NASDAQ under the symbol "BBOX" and has been assigned to the NASDAQ Global Select tier. As of March 31, 2015, 26,304,830 shares of the common stock were issued, of which 10,939,550 shares were held in treasury, resulting in 15,365,280 shares outstanding at that date.

The following table sets forth the quarterly high and low sale prices of the common stock as reported by the NASDAQ Global Select Market during each of the Company’s fiscal quarters indicated below.

	High		Low
Fiscal 2015
1st Quarter	$	25.93	$	19.34
2nd Quarter	24.52		20.05
3rd Quarter	24.89		20.50
4th Quarter	24.91		19.85
Fiscal 2014
1st Quarter	$	27.86	$	19.60
2nd Quarter	31.52		25.45
3rd Quarter	31.59		23.82
4th Quarter	30.52		22.00

On April 20, 2015, the last reported sale price of the common stock was $20.13 per share.

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Dividend Policy

Cash dividends of $0.10 per share of common stock declared during Fiscal 2015 were paid on each of July 11, 2014, October 10, 2014, January 9, 2015 and April 15, 2015. Cash dividends of $0.09 per share of common stock declared during Fiscal 2014 were paid on each of July 12, 2013, October 11, 2013, January 10, 2014 and April 11, 2014. While the Company expects to continue to declare quarterly dividends, the payment of future dividends is at the discretion of the Board and the timing and amount of any future dividends will depend upon earnings, cash requirements and the financial condition of the Company.

Under the Company’s Credit Agreement dated as of March 23, 2012 (the "Credit Agreement"), the Company is permitted to make any distribution or dividend or repurchase its common stock as long as no Event of Default or Potential Default (each as defined in the Credit Agreement) shall have occurred and is continuing or shall occur as a result thereof. In addition, no distribution or dividend on or repurchase of common stock under the repurchase program is permitted under the Credit Agreement if the Company's consolidated leverage ratio (based on EBITDA) exceeds 3.0 other than regular quarterly dividends not exceeding $15,000 per year.

Stockholders

As of March 31, 2015, there were 861 holders of record of the common stock.

Equity Plan Compensation Information:

Seethe information set forth under the caption "Equity Plan Compensation Information" in the Proxy Statement, which is incorporated by reference into Item 12 of Part III of this Annual Report.

Issuance of Unregistered Securities:

There were no issuances of unregistered securities by the Company during the three-month period ended March 31, 2015.

Issuer Purchases of Equity Securities:

There were no purchases of equity securities by the Company during the three-month period ended March 31, 2015 because the Company's leverage ratio was above 3.0 which restricted purchases of its common stock on the open market.

As of March 31, 2015, 772,773 shares, which includes 1,000,000 shares approved for repurchase by the Board on January 27, 2014, were available under repurchase programs approved by the Board. This repurchase program has no expiration date and none of the Company's prior repurchase programs were terminated prior to the full repurchase of the authorized amount.

Additional repurchases of common stock may occur from time to time depending upon factors such as the Company’s cash flows and general market conditions. There can be no assurance as to the timing or amount of such repurchases. Under the Credit Agreement, the Company is permitted to repurchase its common stock as long as no Event of Default or Potential Default (as defined in the Credit Agreement) shall have occurred and is continuing or shall occur as a result thereof. In addition, no repurchase of common stock under the repurchase program is permitted under the Credit Agreement if the Company's consolidated leverage ratio (based on EBITDA) exceeds 3.0.

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Item 6.Selected Financial Data.

The following tables set forth certain selected historical financial data for the Company (in thousands, except for per share amounts). This information should be read in conjunction with the Company’s consolidated financial statements, "Management’s Discussion and Analysis of Financial Condition and Results of Operations" and the Notes to the Consolidated Financial Statements included elsewhere in this Annual Report.

	Fiscal
	2015		2014			2013		2012			2011
Statements of Operations
Revenues	$	992,444	$	971,674		$	997,786	$	1,087,528		$	1,068,229
Gross profit	302,269		303,582			319,930		346,496			357,110
Operating income (loss)1	28,574		(108,392		)	56,269		(239,673		)	91,058
Net income (loss)1	15,342		(115,873		)	28,806		(247,734		)	52,862
Basic earnings (loss) per share	1.00		(7.33		)	1.73		(13.98		)	2.99
Diluted earnings (loss) per share	0.99		(7.33		)	1.73		(13.98		)	2.97
Dividends per share	0.40		0.36			0.32		0.28			0.24
Balance Sheet Data (at end of period)
Working capital 2	$	155,618	$	175,692		$	184,229	$	166,167		$	164,595
Total assets	686,259		712,029			878,001		888,023			1,171,983
Long-term debt	137,267		160,429			187,648		179,621			181,127
Stockholders’ equity	337,111		351,117			482,247		494,384			766,259

¹ Includes goodwill impairment loss of $154,429 and $317,797 for Fiscal 2014 and 2012, respectively.

²Working capital is computed as current assets minus current liabilities.

11

Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations ("MD&A").

The discussion and analysis for the fiscal years ended March 31, 2015, 2014 and 2013 as set forth below in this Item 7 should be read in conjunction with the consolidated financial statements of Black Box, including the related notes. The Company’s fiscal year ends on March 31. References to "Fiscal Year" or "Fiscal" mean the Company’s fiscal year ended March 31 for the year referenced. All dollar amounts are presented in thousands except for per share amounts or unless otherwise noted.

The Company

Black Box is a leading technology solutions provider dedicated to helping customers design, build, manage, and secure their IT infrastructure. The Company offers Products and Services that it distributes through two platforms that it has built over its 39-year history.

Under our Products platform, we provide networking solutions through the sale of products for IT infrastructure, specialty networking, multimedia and KVM switching.

Our Products' revenues are generated from sales to end-users, collaboration with key channel partners and system integrators and through a global distribution network. Products sells through a direct sales team as well as through its internet site and catalogs. These products are sold in a highly fragmented and competitive market. The Company has been in this business for over 39 years and has developed a reputation for being a reliable provider of high-quality communications and infrastructure products. With an average order size of less than one thousand dollars, product revenues are less impacted by capital spending and more so by general information technology spending.

Our Services platform is comprised of engineering and design, network operations centers, technical certifications, national and international sales teams, remote monitoring, on-site service teams and technology partner centers of excellence which include dedicated sales and engineering resources. The primary services offered through this platform include communications lifecycle services, unified communications, structured cabling, video/AV services, in-building wireless and data center services.

The Company generates revenues in its Services business from the design, sale and/or installation of new communications and data infrastructure systems, the support of existing systems and MAC work. The Company's diverse portfolio of offerings allows it to service the needs of its clients independent of the technology that they choose, which it believes is a unique competitive advantage. For the sale and implementation of new communications systems, or other major projects, most significant orders are subject to competitive bidding processes and, generally, competition can be significant for such new orders. The Company is continually bidding on new projects to maintain and grow service revenues. Projects account for the majority of Services revenues and are primarily driven by the overall economic environment and information technology capital spending. The Company also serves government clients whose revenues are not as dependent on the overall economic environment as commercial clients but are subject to governmental budgetary constraints.

New communications systems orders often generate post-implementation maintenance via a fixed fee model where revenues are earned ratably over the term of the agreement (generally 1-3 years for commercial clients and 3-5 years for government clients) or a variable fee model that is based on time and materials per occurrence, similar to MAC work. Maintenance revenues generally are not dependent on the economy as clients contract for maintenance to extend the life of their existing equipment and delay capital spending on new communications systems. Maintenance and MAC work revenues are also dependent upon the Company's relationship with its clients and its long track record of providing high-quality service.

The Company's Services business generates backlog which is defined by the Company as orders and contracts considered to be firm. At March 31, 2015, the Company's total backlog, which relates primarily to Services, was $329,941, of which $226,096 is expected to be completed within the next twelve months.

The Company services a variety of clients within most major industries, with the highest concentration in the government, business services, manufacturing, banking, retail, healthcare and technology industry verticals. Factors that impact those verticals, therefore, could have an impact on the Company. While the Company generates most of its revenues in North America, the Company also generates revenues from around the world, primarily Europe, such that factors that impact European markets could impact the Company. Management strives to develop extensive and long-term relationships with high-quality clients as Management believes that satisfied clients will demand quality services and product offerings from us even in economic downturns.

12

In connection with a new management team and a renewed business strategy, the Company has realigned its organizational structure, which resulted in the identification of new operating segments (North America Products, North America Services, International Products and International Services) for the purpose of making operational decisions and assessing financial performance which was effective, on a prospective basis, beginning on April 1, 2013. See Note 5 and Note 15 to the Consolidated Financial Statements for additional information.

Fiscal 2015 vs Fiscal 2014 Summary

	FY15			FY14			% Change
Revenues	$	992,444		$	971,674		2	%
Gross profit margin	30.5		%	31.2		%	(3	)%
Operating income (loss) margin	2.9		%	(11.2		)%	n/m
Diluted earnings (loss) per share	$	0.99		$	(7.33	)	n/m
Net cash provided by (used for) operating activities	$	46,498		$	56,346		(18	)%

n/m = not meaningful

Diluted earnings per share was $0.99 compared to Diluted loss per share of $7.33 in the same period last year as a result of:

• a $20,770increase in Revenues which includes an increase in Services Revenues due to an increase in a large managed services contract and core commercial revenues, which includes the Cisco solutions practice and the Wireless solutions practice in North America Services partially offset by a decrease in government revenues in North America Services due to lower project bidding volume and delays in award decisions and a decrease in Products Revenues as of result of negative exchange rate impact of $5,179 relative to the U.S. dollar in International Products and a non-recurring large order in Fiscal 2014 in International Products sold through integrators within business services whose end-users were government clients,

• a $1,313decrease in Gross profit as a result of a decrease in Gross profit margin due to product and project mix partially offset by an increase in Revenues noted above,

• a $17,625increase in Selling, general and administrative expenses which were primarily the result of investments for growth programs and infrastructure, an increase in restructuring expense of $3,414 and $800 of costs associated with the international legal entity restructuring noted below,

• a $154,429 decrease in Goodwill impairment loss (see"Goodwill" below for additional reference),

• a $231decrease in Interest expense (income), net resulting from the change in the fair value of the interest-rate swap of $315 (from a gain of $832 in Fiscal 2014 to a gain of $1,147 in Fiscal 2015),

• a $627decrease in Other expenses (income), net as a result of a $822 decrease in non-cash losses related to the Company's non-controlling interest in Genesis Networks Integration Services, LLC ("GNIS"),

• a $6,609increase in Provision for income taxes as a result of an increase in Income (loss) before provision for income taxes primarily due to the goodwill impairment loss recorded in the fourth quarter of Fiscal 2014 which included $114,920 of non-deductible goodwill impairment loss and $1,574 of tax benefit from an international legal entity restructuring, and

• a 411reduction in Diluted weighted-average common shares outstanding resulting from the Company's common stock repurchases.

Net cash provided by operating activities was $46,498, which included Net income of $15,342 and an increase in working capital of $4,254, a decrease of 18% compared to $56,346, which included Net loss of $115,873 and an increase in working capital of $1,580, in the same period last year. The decrease was primarily due to the timing of working capital items.

In Fiscal 2015, the Company grew Revenues by 2% driven by growth in North America Services within our commercial business and North America Products. The growth in the commercial business was due to growth in our Cisco Solutions Practice and Wireless Solutions Practice, which were established during Fiscal 2013, our managed services contract and stability in our core commercial offerings. That growth was reduced by a decline in revenues in our government business. The growth in North America Products was due to a focused sales and marketing strategy to concentrate on specific high growth markets. This follows organic revenue decline in each of the prior three fiscal years.

13

Our profits were negatively impacted by the investments and restructuring expense incurred to transform Black Box from a branch leadership model to a functional leadership model in all of our business units to allow it to adapt and grow with a primary focus to increase revenues. This transformation is directly aligned with our strategy to have a consistent, unified go-to-market approach, optimize our structure, leverage our expertise and strengthen our offerings. We believe that this provides the platform that will allow us to effectively expand our solutions going forward.

During Fiscal 2015, we implemented a sales improvement program in our commercial business that led to a national sales organization equipped with better processes and tools. We believe that this will enable our sales team to present our clients and prospective clients with a clearer view of our capabilities and the value we can create through our unique ability to provide a high level of service for multiple information technology functions at dispersed geographic locations. This national sales organization is fully operational. Also, we established process and procedures to enable our operations organization to deliver our offerings on a national level outside of our former branch model. Our Products business has adopted functional leadership in its geographic markets, most recently in its European operations. 

In Fiscal 2016, in our commercial business, we will be focused on execution of our new sales and operations organizations, but with an emphasis on identifying functional organizational efficiencies that will be enabled by information technology. With this transformation, we believe we will enhance our unique offering to clients, through our depth and breadth of solutions, technical expertise, experience and geographic reach, which are all differentiators for us. We will be focused on continuing to strengthen that platform to provide effective, efficient business solutions to the market. We believe that our Products business will continue to improve performance under functional leadership and focus on high growth markets.

We also believe that, in Fiscal 2016, we can establish an appropriate level of operating expenses below our Fiscal 2015 levels, without reducing the momentum of our transformation. In addition, we believe we are well-positioned to demonstrate the profitability leverage in our business model as we grow our revenues. We have placed significant amount of attention on managing our investments into a normalized run rate so that operating margin expansion and increases in cash flow can return to the business with revenue growth.

14

Results of Operations

Segments

We conduct our business globally and manage our business by geographic-service type under the following four operating segments: North America Products, North America Services, International Products and International Services. The Revenues, Gross profit and Operating income amounts in the table below are presented on a basis consistent with accounting principles generally accepted in the United States. As a result of the segment change (discussed in Note 15 of the Notes to the Consolidated Financial Statements), the Company has restated prior period information to conform to the current year's presentation.

	FY15			FY14			% Change		FY14			FY13			% Change
Revenues
North America Products	$	85,205		$	82,833		3	%	$	82,833		$	87,089		(5	)%
International Products	$	91,614		$	99,320		(8	)%	$	99,320		$	99,194		—	%
Total Products	$	176,819		$	182,153		(3	)%	$	182,153		$	186,283		(2	)%
North America Services	$	785,681		$	753,525		4	%	$	753,525		$	775,868		(3	)%
International Services	$	29,944		$	35,996		(17	)%	$	35,996		$	35,635		1	%
Total Services	$	815,625		$	789,521		3	%	$	789,521		$	811,503		(3	)%
Total Revenues	$	992,444		$	971,674		2	%	$	971,674		$	997,786		(3	)%
Gross profit
North America Products	$	36,082		$	34,624		4	%	$	34,624		$	38,367		(10	)%
% of Revenues	42.3		%	41.8		%	1	%	41.8		%	44.1		%	(5	)%
International Products	$	37,662		$	42,052		(10	)%	$	42,052		$	44,040		(5	)%
% of Revenues	41.1		%	42.3		%	(3	)%	42.3		%	44.4		%	(5	)%
Total Products	$	73,744		$	76,676		(4	)%	$	76,676		$	82,407		(7	)%
% of Revenues	41.7		%	42.1		%	(1	)%	42.1		%	44.2		%	(5	)%
North America Services	$	220,469		$	219,337		1	%	$	219,337		$	228,503		(4	)%
% of Revenues	28.1		%	29.1		%	(4	)%	29.1		%	29.5		%	(1	)%
International Services	$	8,056		$	7,569		6	%	$	7,569		$	9,020		(16	)%
% of Revenues	26.9		%	21.0		%	28	%	21.0		%	25.3		%	(17	)%
Total Services	$	228,525		$	226,906		1	%	$	226,906		$	237,523		(5	)%
% of Revenues	28.0		%	28.7		%	(3	)%	28.7		%	29.3		%	(2	)%
Total Gross Profit	302,269			303,582			—	%	303,582			319,930			(5	)%
% of Revenues	30.5		%	31.2		%	(3	)%	31.2		%	32.1		%	(3	)%
Operating income (loss)(1) (2)
North America Products	$	4,564		$	(37,785	)	n/m		$	(37,785	)	$	8,995		n/m
% of Revenues	5.4		%	(45.6		)%	n/m		(45.6		)%	10.3		%	n/m
International Products	$	(277	)	$	(14,847	)	n/m		$	(14,847	)	$	6,954		n/m
% of Revenues	(0.3		)%	(14.9		)%	n/m		(14.9		)%	7.0		%	n/m
Total Products	$	4,287		$	(52,632	)	n/m		$	(52,632	)	$	15,949		n/m
% of Revenues	2.4		%	(28.9		)%	n/m		(28.9		)%	8.6		%	n/m
North America Services	$	22,195		$	(50,740	)	n/m		$	(50,740	)	$	38,418		n/m
% of Revenues	2.8		%	(6.7		)%	n/m		(6.7		)%	5.0		%	n/m
International Services	$	2,092		$	(5,020	)	n/m		$	(5,020	)	$	1,902		n/m
% of Revenues	7.0		%	(13.9		)%	n/m		(13.9		)%	5.3		%	n/m
Total Services	$	24,287		$	(55,760	)	n/m		$	(55,760	)	$	40,320		n/m
% of Revenues	3.0		%	(7.1		)%	n/m		(7.1		)%	5.0		%	n/m
Total Operating Income (loss)	28,574			(108,392		)	n/m		(108,392		)	56,269			n/m
% of Revenues	2.9		%	(11.2		)%	n/m		(11.2		)%	5.6		%	n/m

n/m = not meaningful

⁽¹⁾ These results reflect a reclassification of expense that reduced Operating income (loss) in North America Products by $1,218 and $1,686 in Fiscal 2015 and Fiscal 2014, respectively, with a corresponding increase of the same amounts for Operating income (loss) in North America Services. This reclassification had no effect on our consolidated financial results.

15

⁽²⁾ These results include goodwill impairment loss of $42,613, $20,159, $86,904 and $4,753 for North America Products, International Products, North America Services and International Services, respectively, for Fiscal 2014.

Fiscal 2015 vs Fiscal 2014

Total Revenues were $992,444, an increase of 2% when compared to Total Revenues of $971,674 in the same period last year. Products Revenues were $176,819, a decrease of 3% compared to Products Revenues of $182,153 in the same period last year primarily due to a negative exchange rate impact of $5,179 relative to the U.S. dollar in International Products and a non-recurring large order in Fiscal 2014 in International Products sold through integrators within business services whose end-users were government clients and reduced spending in both direct and indirect channels by our government clients in North America Products. The decrease in Products Revenues was partially offset by sales generated by a new direct sales program focused on larger opportunities. Services Revenues were $815,625, an increase of 3% compared to Services Revenues of $789,521 in the same period last year primarily due to an increase in a large managed services contract and core commercial revenues, which includes the Cisco solutions practice and the Wireless solutions practice in North America Services, partially offset by a decrease in government revenues in North America Services due to lower project bidding volume and delays in award decisions.

Total Gross profit margin was 30.5%, a decrease of 3% compared to Total Gross profit margin of 31.2% in the same period last year. Products Gross profit margin was 41.7%, a decrease of 1% compared to Products Gross profit margin of 42.1% in the same period last year, primarily due to the impact of our new direct sales program focused on large competitive deals which tend to carry lower margins and product mix. Services Gross profit margin was 28.0%, a decrease of 3% compared to Services Gross profit margin of 28.7% in the same period last year, primarily due to a decrease in profitability associated with core commercial revenues in North America Services as a result of increased competition for lower priority budget dollars partially offset by an increase in profitability associated with government revenues in North America Services due to multiple projects with higher than normal profitability.

Total Operating income margin was 2.9% compared to Total Operating loss margin of 11.2% in the same period last year. Products Operating income margin was 2.4% compared to Products Operating loss margin of 28.9% in the same period last year, primarily due to goodwill impairment loss of $62,772 ($42,613 for North America Products and $20,159 for International Products) in Fiscal 2014 partially offset by current period investments for growth programs and infrastructure, an increase in restructuring expense of $1,573 and a decrease in Gross profit margins as noted above. Services Operating income margin was 3.0% compared to Services Operating loss margin of 7.1% in the same period last year, primarily due to goodwill impairment loss of $91,657 ($86,904 for North America Services and $4,753 for International Services) in Fiscal 2014 partially offset by current period investments for growth programs and infrastructure, an increase in restructuring expense of $1,841 and a decrease in Gross profit margins as noted above.

Fiscal 2014 vs Fiscal 2013

Total Revenues were $971,674, a decrease of 3% when compared to Total Revenues of $997,786 in the same period last year. Products Revenues were $182,153, a decrease of 2% compared to Products Revenues of $186,283 in the same period last year primarily as a result of a decrease in North America Products due to reduced spending in both direct and indirect channels by our government clients as a result of the federal budget sequestration, which the Company believes may impact Products Revenues, relative to historic levels, for the foreseeable future, and a decrease in demand for International Products, partially offset by a large order in International Products sold through integrators within business services whose end-users were government clients. The decrease in Products Revenues was partially offset by an approximate $20,000 of incremental revenue that was generated by a new direct sales team focused on larger opportunities. Services Revenues were $789,521, a decrease of 3% compared to Services Revenues of $811,503 in the same period last year primarily due to a decrease in commercial revenues in North America Services resulting from weaker than anticipated economic recovery and sluggish client adoption of the rapidly changing communications technology along with relatively stable government revenues in North America Services. The decrease in North America Services was partially offset by the success of its Cisco and Wireless solutions practices which grew 10% and 6%, respectively, over the prior year.

Total Gross profit margin was 31.2%, a decrease of 3% compared to Total Gross profit margin of 32.1% in the same period last year. Products Gross profit margin was 42.1%, a decrease of 5% compared to Products Gross profit margin of 44.2% in the same period last year, primarily due to lower Gross profit margins on the large order noted above, competitive pricing pressures and product mix. Services Gross profit margin was 28.7%, a decrease of 2% compared to Services Gross profit margin of 29.3% in the same period last year, primarily due to project mix and client-type mix. The selling prices for our services and the resulting gross profit margins continue to be impacted by competition for lower priority budget dollars.

16

Total Operating loss margin was 11.2%compared to Total Operating income margin of 5.6%in the same period last year. Products Operating loss margin was 28.9%, compared to Products Operating income margin of 8.6%in the same period last year primarily due to goodwill impairment loss of $62,772 ($42,613 for North America Products and $20,159 for International Products), the lower gross profit margins noted above and investments for growth programs. Services Operating loss margin was 7.1%compared to Services Operating income margin of 5.0%in the same period last year primarily due to goodwill impairment loss of $91,657 ($86,904 for North America Services and $4,753 for International Services), lower gross profit margins noted above and investments for growth programs.

Interest expense, Other expense and Income Taxes

	FY15			FY14			% Change		FY14			FY13			% Change
Interest expense	$	4,416		$	4,647		(5	)%	$	4,647		$	6,090		(24	)%
% of Revenues	0.4		%	0.5		%	(20	)%	0.5		%	0.6		%	(17	)%
Income taxes	$	8,246		$	1,637		404	%	$	1,637		$	17,657		(91	)%
Effective income tax rate	35.0		%	(1.4		)%	n/m		(1.4		)%	38.0		%	n/m

n/m = not meaningful

Fiscal 2015 vs Fiscal 2014

Interest expense was $4,416, a decrease of 5% compared to Interest expense of $4,647 in the same period last yearprimarily as a result of a change in the fair value of the interest-rate swap of $315 (from a gain of $832 in Fiscal 2014 to a gain of $1,147 in Fiscal 2015). Interest expense as a percent of Revenues was 0.4%, a decrease of 20% compared to Interest expense as a percent of Revenues of 0.5% in the same period last year. The weighted-average outstanding debt and weighted-average interest rate was $182,149 and 1.7%, respectively, compared to $190,015 and 1.5% in the same period last year.

Income taxes were $8,246 compared to Income taxes of $1,637 in the same period last year. The effective income tax rate was 35.0% compared to the effective income tax rate of (1.4)% in the same period last year. The effective income tax rate increase from (1.4)% to 35.0% was primarily due to an increase in Income (loss) before provision for income taxes primarily due to the goodwill impairment loss recorded in the fourth quarter of Fiscal 2014 which included $114,920 of non-deductible goodwill impairment loss and $1,574 of tax benefit from an international legal entity restructuring.

Fiscal 2014 vs Fiscal 2013

Interest expense was $4,647, a decrease of 24% compared to Interest expense of $6,090 in the same period last year primarily as a result of a change in the fair value of the interest-rate swap of $1,438 (from a loss of $606 in Fiscal 2013 to a gain of $832 in Fiscal 2014). Interest expense as a percent of Revenues was 0.5%, a decrease of 17% compared to Interest expense as a percent of Revenues of 0.6% in the same period last year. The weighted-average outstanding debt and weighted-average interest rate was $190,015 and 1.5%, respectively, compared to $203,072 and 1.5% in the same period last year.

Income taxes were $1,637 compared to Income taxes of $17,657 in the same period last year. The effective income tax rate was (1.4)% compared to the effective income tax rate of 38.0% in the same period last year. The effective income tax rate decrease from 38.0% to (1.4)% was primarily due to $114,920 of non-deductible goodwill impairment loss, a decrease in uncertain income tax positions (including interest and penalties) and the benefit associated with the Fiscal 2013 federal return to provision reconciliation partially offset by the write-off of certain deferred tax assets related to equity awards.

17

Liquidity and Capital Resources

Overview

A majority of our revenue is generated through individual sales of products and services. Less than 20% of our revenue is generated from long-term support contracts. We depend on repeat client business, as well as our ability to develop new client business, to sustain and grow our revenue. Most significant orders are subject to a competitive bidding process and, generally, competition can be significant for such new orders. Our business model provides us with flexibility in terms of capital expenditures and other required operating expenses. For the foreseeable future, we expect to continue to generate net cash provided by operating activities that exceeds our capital expenditures and other required operating expenses and will be available for discretionary investments.

We seek to allocate company resources in a manner that will enhance per share results. Our discretionary investments include: investments in growth programs and infrastructure, strategic acquisitions of high quality growth-oriented companies, a return to our stockholders through dividends and common stock repurchases and repaying our debt.

Liquidity Position

The following is a summary of our capitalization and liquidity position.

	FY15		FY14		FY13
Cash and cash equivalents	$	23,534	$	30,810	$	30,720
Working capital	$	155,618	$	175,692	$	184,229
Long-term debt	$	137,267	$	160,429	$	187,648
Stockholders’ equity	$	337,111	$	351,117	$	482,247
Unused commitment of the Credit Agreement 1	$	259,950	$	235,595	$	208,340

¹ Subsequent to March 31, 2015, the Company voluntarily reduced the unused commitment of the Credit Agreement by $100,000 in order to reduce commitment fee costs associated with the unused portion of the line.

We expect that our cash, the available unused commitments of the Credit Agreement, which are lower than the unused commitments due to a financial covenant, and net cash provided by operating activities should be sufficient to cover the Company's working capital requirements, capital expenditures, dividend program, potential stock repurchases, potential future acquisitions or strategic investments and other cash needs for at least the next 12 months.

Sources and Uses of Cash

The following is a summary of our sources and uses of cash.

	FY15			FY14			FY13
Net cash provided by (used for) operating activities	$	46,498		$	56,346		$	46,701
Net cash provided by (used for) investing activities	$	(9,087	)	$	(8,101	)	$	(8,305	)
Net cash provided by (used for) financing activities	$	(41,197	)	$	(52,021	)	$	(29,463	)

Net cash provided by (used for) operating activities

Net cash provided by operating activities for Fiscal 2015 was $46,498, due primarily to Net income of $15,342, inclusive of non-cash charges, an increase in All other liabilities of $8,103 and a decrease in Costs/estimated earnings in excess of billings on uncompleted contracts of $9,892, partially offset by an increase in All other assets of $14,152. Net cash provided by operating activities for Fiscal 2014 was $56,346, due primarily to Net loss of $115,873, inclusive of non-cash charges, including $154,429 goodwill impairment loss, and a decrease in Costs/estimated earnings in excess of billings on uncompleted contracts of $11,767, partially offset by a decrease in All other liabilities of $11,025. Net cash provided by operating activities for Fiscal 2013 was $46,701, due primarily to Net income of $28,806, inclusive of non-cash charges and a decrease in trade accounts receivable of $10,047, partially offset by an increase in Costs/estimated earnings in excess of billings on uncompleted contracts of $13,928 and a decrease in All other liabilities of $4,621. Changes in the above accounts are based on average Fiscal 2015, Fiscal 2014 and Fiscal 2013 exchange rates, as applicable.

18

Changes in working capital, and particularly changes in accounts receivable, costs in excess of billings and billings in excess of cost, can have a significant impact on net cash provided by operating activities, largely due to the timing of payments and receipts.

Net cash provided by (used for) investing activities

Capital expenditures

The Company made investments of $8,515 in Fiscal 2015 compared to $7,338 and $6,323 for Fiscal 2014 and Fiscal 2013, respectively, which related primarily to information technology infrastructure, computer hardware and software and vehicles.

Acquisitions

The Company made investments of $780 in Fiscal 2015 compared to $779 and $2,371 for Fiscal 2014 and Fiscal 2013, respectively.

Net cash provided by (used for) financing activities

Long-term debt

Repayment of long-term debt was $24,475 in Fiscal 2015, funded by cash flow provided by operations, compared to $27,382, funded by cash flow provided by operations, and proceeds from long-term debt of of $7,735, used to fund common stock repurchases, for Fiscal 2014 and Fiscal 2013, respectively.

Common stock repurchases

The Company made discretionary investments in the form of common stock repurchases of $6,987 in Fiscal 2015 compared to $20,274 and $36,231 for Fiscal 2014 and Fiscal 2013, respectively. We did not repurchase common stock during the fourth quarter of Fiscal 2015 because our leverage ratio was above 3.0 which restricted purchases of our common stock on the open market. The Company also made tax payments of $1,089 in Fiscal 2015 compared to $1,520 and $983 for Fiscal 2014 and Fiscal 2013, respectively, related to share withholding to satisfy employee income taxes due as a result of the vesting of certain restricted stock units and performance shares.

Since the inception of the repurchase program in April 1999 through March 31, 2015, the Company has repurchased 10,727,227 shares of common stock for an aggregate purchase price of $400,360, or an average purchase price per share of $37.32. These shares do not include the treasury shares withheld for tax payments due upon the vesting of certain restricted stock units and performance shares. As of March 31, 2015, 772,773 shares were available under repurchase programs. Additional repurchases of common stock may occur from time to time depending upon factors such as the Company’s cash flows and general market conditions. There can be no assurance as to the timing or amount of such repurchases. Under the Credit Agreement, the Company is permitted to repurchase its common stock as long as no Event of Default or Potential Default (as defined in the Credit Agreement) shall have occurred and is continuing or shall occur as a result thereof. In addition, no repurchase of common stock under the repurchase program is permitted under the Credit Agreement if the Company's consolidated leverage ratio (based on EBITDA) exceeds 3.0.

Dividends

The Company made discretionary investments in the form of dividends to its shareholders of $6,034 in Fiscal 2015 compared to $5,576 and $5,206 for Fiscal 2014 and Fiscal 2013, respectively. While the Company expects to continue to declare quarterly dividends, the payment of future dividends is at the discretion of the Board and the timing and amount of any future dividends will depend upon earnings, cash requirements and the financial condition of the Company. Under the Credit Agreement, the Company is permitted to make any distribution or dividend as long as no Event of Default or Potential Default (as defined in the Credit Agreement) shall have occurred and is continuing or shall occur as a result thereof. In addition, no distribution or dividend is permitted under the Credit Agreement if such event would violate a consolidated leverage ratio required to be maintained under the Credit Agreement other than regular quarterly dividends not exceeding $15,000 per year.

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Credit Agreement

On March 23, 2012, the Company entered into a Credit Agreement with Citizens Bank of Pennsylvania, as administrative agent, and certain other lender parties. The Credit Agreement expires on March 23, 2017. Borrowings under the Credit Agreement are permitted up to a maximum amount of $400,000, which the Company voluntarily reduced to $300,000 effective as of April 16, 2015, and includes up to $25,000 of swing-line loans and $25,000 of letters of credit. The Company voluntarily reduced the unused commitment of our Credit Agreement by $100,000 in order to reduce our commitment fee costs associated with the unused portion of the line. The Credit Agreement may be increased by the Company up to an additional $100,000 with the approval of the lenders and may be unilaterally and permanently reduced by the Company to not less than the then outstanding amount of all borrowings. Interest on outstanding indebtedness under the Credit Agreement accrues, at the Company’s option, at a rate based on either: (a) the greater of (i) the prime rate per annum of the agent then in effect and (ii) 0.50% plus the rate per annum announced by the Federal Reserve Bank of New York as being the weighted-average of the rates on overnight Federal funds transactions arranged by Federal funds brokers on the previous trading day, in each case plus 0% to 0.75% (determined by a leverage ratio based on the Company’s consolidated Earnings Before Interest Taxes Depreciation and Amortization ("EBITDA")) or (b) a rate per annum equal to the LIBOR rate plus 0.875% to 1.75% (determined by a leverage ratio based on the Company’s consolidated EBITDA). The Credit Agreement requires the Company to maintain compliance with certain non-financial and financial covenants such as leverage and fixed-charge coverage ratios, which could limit the Company's ability to borrow the full amount of the credit facility. As of March 31, 2015, the Company was in compliance with all covenants under the Credit Agreement.

Contractual Obligations

The Company has various contractual obligations and commitments to make future payments including those arising under its debt agreements, operating and capital lease obligations and discounted lease rental commitments.

The following table summarizes significant contractual obligations and commitments of the Company as of March 31, 2015. Except as set forth in the following table, the Company does not have any material long-term purchase obligations or other long-term liabilities that are reflected on its balance sheet as of March 31, 2015:

	Payments Due by Period 1
	Less than 1 year		1-3 years		3-5 years		More than 5 years		Total
Long-term debt obligations	$	—	$	136,000	$	—	$	—	$	136,000
Interest expense on long-term debt	2,780		2,711		—		—		5,491
Purchase obligations	4,795		1,029		35		—		5,859
Capital lease obligations	865		1,267		—		—		2,132
Operating lease obligations	11,320		15,111		6,596		3,308		36,335
Total contractual obligations	$	19,760	$	156,118	$	6,631	$	3,308	$	185,817

¹ Not included in the above table are potential cash obligations of $16,388 associated with an unfunded pension liability due to the high degree of uncertainty regarding the timing of future cash outflows associated with such obligation.

The estimated interest expense payments on long-term debt reflected in the table above are based on both the amount outstanding under the Company's credit facility and the weighted-average interest rate in effect as of March 31, 2015.

As of March 31, 2015, the Company had potential commercial commitments under letters of credit of $4,050, which expire within the next twelve months.

Off-Balance Sheet Arrangements

The Company has no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on its financial condition, changes in its financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources, other than those disclosed above, that are material to investors.

Inflation

The overall effects of inflation on the Company have been nominal. Although long-term inflation rates are difficult to predict, the Company continues to strive to minimize the effect of inflation through improved productivity and cost reduction programs as well as price adjustments within the constraints of market competition.

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Critical Accounting Policies

The Company’s consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States, which require the Company to make estimates and assumptions that affect the reported financial condition and results of operations. Such estimates and assumptions may differ from actual results. The Company bases its estimates and assumptions on the best available information and believes them to be reasonable for the circumstances. The Company’s significant accounting policies are described in Note 2 of the Notes to the Consolidated Financial Statements contained in Item 8 of this Annual Report on Form 10-K. The Company believes that of its significant accounting policies, the following may involve a higher degree of judgment and complexity.

Allowance for doubtful accounts receivable

The Company records an allowance for doubtful accounts receivable as an offset to accounts receivable in order to present the net balance that the Company believes will be collected. This allowance is based on both recent trends in certain accounts receivable ("specific reserve") estimated to be a greater credit risk as well as general trends in the entire accounts receivable pool ("general reserve"). The Company computes a specific reserve by identifying specifically at-risk accounts receivable and applying historic reserve factors to the outstanding balance. The Company computes a general reserve by reviewing the accounts receivable aging and applying reserve factors based upon the age of the account receivable. If the estimate of uncollectible accounts receivable should prove inaccurate at some future date, the results of operations reported for the period could be materially affected by any necessary correction to the allowance for doubtful accounts.

Inventories

The Company’s inventory is valued at the lower of cost or market value and has been reduced by an allowance for excess and obsolete inventories. The Company records an estimate for slow moving and obsolete inventory ("inventory reserve") based upon our product knowledge, physical inventory observation, future demand, market conditions and an aging analysis of the inventory on hand. For “convenience,” we reduce inventory cost through a contra asset rather than through a new cost basis. If actual market conditions are less favorable than those projected by Management at some future date, the results of operations reported for the period could be materially affected by any necessary correction to the inventory reserve.

Deferred Income Taxes

The Company records deferred income tax assets and liabilities in its Consolidated Balance Sheets related to events that impact the Company’s financial statements and tax returns in different periods. Deferred tax asset and liability balances are computed by identifying differences between the book basis and tax basis of assets and liabilities ("temporary differences") which are multiplied by the current tax rate. A valuation allowance is provided on deferred tax assets if it is determined that it is more likely than not that the asset will not be realized. If the Company’s estimate of the realizable deferred tax assets should prove inaccurate at some future date, the results of operations reported for the period could be materially affected by any necessary correction to the deferred tax asset allowance.

Goodwill

The Company conducts its annual goodwill impairment assessment during the third quarter of its fiscal year, using data as of the end of the second quarter of its fiscal year. Goodwill is tested using a two-step process. The first step of the goodwill impairment assessment, used to identify potential impairment, compares the fair value of a reporting unit with its carrying amount, including goodwill ("net book value"). If the fair value of a reporting unit exceeds its net book value, goodwill of the reporting unit is considered not impaired, thus the second step of the impairment test is unnecessary. If net book value of a reporting unit exceeds its fair value, the second step of the goodwill impairment test will be performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment assessment, used to measure the amount of impairment loss, if any, compares the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. The implied fair value of reporting unit goodwill is determined as the residual between the fair value of the reporting unit and the fair value of its assets (including any unrecognized intangible assets) and liabilities. If the carrying amount of reporting unit goodwill exceeds the implied fair value of that goodwill, an impairment loss shall be recognized in an amount equal to that excess.

21

In the first step of the goodwill impairment assessment, the Company uses an income approach to derive a present value of the reporting unit’s projected future annual cash flows and the present residual value of the reporting unit. The Company uses the income approach because it believes that the discounted future cash flows provide greater detail and opportunity to reflect facts, circumstances and economic conditions for each reporting unit. In addition, the Company believes that this valuation approach is a proven valuation technique and methodology for its industry and is widely accepted by investors. The Company uses a variety of underlying assumptions to estimate these future cash flows, which vary for each of the reporting units and include (i) future revenue growth rates, (ii) future operating profitability, (iii) the weighted-average cost of capital and (iv) a terminal growth rate. If the Company’s estimates and assumptions used in the discounted future cash flows should change at some future date, the Company could incur an impairment charge which could have a material adverse effect on the results of operations reported for the period in which the impairment occurs.

Fiscal 2015

The Company conducted its annual goodwill impairment assessment during the third quarter of Fiscal 2015 using data as of September 27, 2014. The first step of the goodwill impairment assessment, used to identify potential impairment, resulted in a surplus of fair value over carrying amount for each of our reporting units thus the reporting units are considered not impaired and the second step of the impairment test is not necessary. The excess of the fair value over this carrying amount was $23,061, $68,364, $14,839 and $1,411 for North America Products, North America Services, International Products and International Services, respectively. A 100 basis point increase in the weighted-average cost of capital, which, holding all other assumptions constant, would have a significant impact on the fair value of a reporting unit and would decrease the fair value of the reporting units by $8,629, $41,488, $2,998 and $1,265 for North America Products, North America Services, International Products and International Services, respectively.

During the fourth quarter of Fiscal 2015 in connection with planning for the fiscal year ending March 31, 2016, and based on the results of Fiscal 2015, the Company reduced its longer-term revenue and profitability outlook for North America Services from the longer-term revenue and profitability outlook used in the annual goodwill impairment assessment completed in the third quarter of Fiscal 2015. The Company evaluated the impact of this reduced longer-term revenue and profitability outlook and determined that it was not more likely than not a reduction in the fair value of this reporting unit below its carrying amount; thus, no interim test was warranted. Such determination was based on the following considerations: (i) the Company continues to expect longer-term revenue and profit growth, but at lower rates (ii) the carrying amount for North America Services did not materially change from the annual goodwill impairment assessment completed in the third quarter of Fiscal 2015 (iii) the Company had $68,364 (31%) of excess of fair value over the carrying amount for North America Services from the annual goodwill impairment assessment completed in the third quarter of Fiscal 2015 and (iv) there were no material negative industry or macro-economic trends in the fourth quarter of Fiscal 2015. To illustrate the impact of the reduced longer-term revenue and profitability outlook, assuming all other assumptions held constant from the annual goodwill impairment assessment completed in the third quarter of Fiscal 2015, the excess of the fair value for North America Services would be reduced from $68,364 (31%) to $14,963 (7%). If the Company were to fail to meet forecasted results or further reduce its longer-term revenue and profitability outlook in the future, it could result in goodwill impairment loss that could have a material adverse effect on the results of operations.

Fiscal 2014

As previously disclosed, the Company realigned its organizational structure as a result of a new management team and a renewed business strategy. In connection with this reorganization, the Company evaluated its historical geographic-based operating segments (North America, Europe, Latin America and Pacific Rim) in relation to accounting principles generally accepted in the United States and identified the following new operating segments: (i) North America Products, (ii) North America Services, (iii) International Products and (iv) International Services. The new operating segments became effective, on a prospective basis, beginning on April 1, 2013. Note that the Company's operating segments are also its reporting units (for goodwill assessment purposes) and reporting segments (for financial reporting purposes). In connection with the identification of the new operating segments, the Company allocated goodwill from the historical geographic-based reporting units to the new reporting units using a relative fair market value approach.

Also, as of April 1, 2013, the Company conducted an interim goodwill impairment assessment because data, relevant to a goodwill impairment assessment, was readily available through the reassignment of goodwill to the Company's new business segments using the relative fair market value approach. The first step of the goodwill impairment assessment, used to identify potential impairment, resulted in a surplus of fair value over carrying amount for each of our new reporting units, thus the new reporting units were considered not impaired as of April 1, 2013 and the second step of the impairment test was not necessary.

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Consistent with prior years, the Company conducted its annual goodwill impairment assessment as of the end of the second quarter of its fiscal year (September 28, 2013 for Fiscal 2014). Historically, this assessment was completed during the third quarter. However, given the reduced revenue and profitability outlook for Fiscal 2014 in each reporting unit announced in November 2013 with the second fiscal quarter financial results and changes in outlook as a result of the Company’s efforts to transform into a more relevant and effective solution provider, the Company determined it was necessary to extend completion of its assessment process in order to take into account a contemporary outlook for the Company’s business units that are being developed in connection with Fiscal 2015 planning.

During the fourth quarter, the Company determined that the carrying value of its reporting units exceeded the fair value of its reporting units, which included a contemporary outlook for each unit that had been developed in connection with Fiscal 2015 planning. As such, the Company proceeded to the second step of the goodwill impairment assessment. The Company, after consultation by Management with the Audit Committee (the "Audit Committee") of the Board, concluded that the Company would record a non-cash, pre-tax goodwill impairment loss of $154,429, (consisting of $42,613, $86,904, $20,159 and $4,753 in its North America Products, North America Services, International Products and International Services reporting units, respectively) during the fourth quarter of Fiscal 2014 as a result of its annual goodwill assessment conducted as of September 28, 2013. The impairment charge did not impact the Company's business operations, compliance with debt covenants, future cash flows nor result in any cash expenditures.

The primary factors contributing to the goodwill impairment loss were actual and projected revenue and profitability for Fiscal 2014 and Fiscal 2015, and the corresponding impact beyond those periods. Fiscal 2014 revenues and profitability on a consolidated basis were at or near their lowest levels in the past 6 years. Products revenues in Fiscal 2014 were impacted by reduced spending in both direct and indirect channels by our government clients as a result of the federal budget sequestration, which the Company believes may continue to impact North America Products Revenues, relative to recent historic levels, for the foreseeable future. Services Revenues were impacted by weaker than anticipated client adoption of the rapidly changing communications technology in our core markets. Products and Services Operating income margin were impacted by historically low gross profit margins as a result of continued competitive pricing pressures and current period investments for growth programs which, it is expected, will continue in Fiscal 2015. The Company believes that these short-term investments will enable it to grow revenue profitably in the longer term. Also contributing to the goodwill impairment loss was an increased weighted-average cost of capital for all of our reporting units (primarily driven by debt-related components of the weighted-average cost of capital).

The Company then adjusted the carrying value of its reporting units to reflect the goodwill impairment loss and compared that adjusted carrying value to the fair value of the reporting units. The excess of the fair value over this adjusted carrying value was $24,909, $51,957, $16,430 and $1,859 for North America Products, North America Services, International Products and International Services, respectively. A 100 basis point increase in the weighted-average cost of capital, which, holding all other assumptions constant, would have a significant impact on the fair value of a reporting unit, would decrease the fair value of the reporting units by $8,911, $39,375, $3,333 and $1,402 for North America Products, North America Services, International Products and International Services, respectively.

Fiscal 2013

The Company conducted its annual goodwill impairment assessment using data as of September 29, 2012. The first step of the goodwill impairment assessment, used to identify potential impairment, resulted in a surplus of fair value over carrying amount for each of our reporting units, thus the reporting units are considered not impaired and the second step of the impairment test was not necessary.

Long-Lived Assets other than Goodwill

The Company reviews long-lived assets including property, plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the estimated future cash flows (undiscounted) expected to result from the use and eventual disposition of an asset is less than the carrying amount of the asset, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of the asset. No impairments of long-lived assets have been identified during any of the periods presented.

Loss Contingencies

The Company becomes subject to contingencies as a normal part of its business operations, such as future warranty obligations and potential liabilities relating to legal or regulatory matters. The Company accrues for contingent obligations when a loss is probable and the amount can be reasonably estimated.

Revenue Recognition

Products revenues are recognized when title to products sold passes to the client, which generally occurs upon shipment from the Company’s location.

23

Services revenues are recognized from maintenance service contracts, MAC work and network integration services when the services are provided. Service contracts are generally pre-billed, recorded in Deferred revenue within the Company’s Consolidated Balance Sheets and are generally recognized over the service period on a straight-line basis. Revenues from the sale and installation of products and systems are recognized using the percentage-of-completion method based upon the proportion of actual costs incurred to estimated total costs. At the time a loss on a contract becomes known, the entire amount of the estimated loss is recognized immediately in the financial statements. The Company has historically made reasonably accurate estimates of the extent of progress towards completion, contract revenues and contract costs on its long-term contracts. However, due to uncertainties inherent in the estimation process, actual results could differ materially from those estimates.

Impact of Recently Issued Accounting Pronouncements

There have been no accounting pronouncements adopted during Fiscal 2015, Fiscal 2014 or Fiscal 2013 that had a material impact on the Company’s consolidated financial statements.

In May 2014, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Codification ("ASC") Update No. 2014-09, "Revenue from Contracts with Customers" ("ASC 2014-09"), that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The core principle of ASC 2014-09 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expected to be entitled in exchange for those goods or services. Entities can use either of two methods: (i) retrospective to each prior period presented with the option to elect certain practical expedients as defined within ASC 2014-09; or (ii) retrospective with the cumulative effect of initially applying ASC 2014-09 recognized at the date of initial application and providing certain additional disclosures as defined per ASC 2014-09. ASC 2014-09 is effective for annual reporting periods (including interim periods therein) beginning after December 15, 2016 for public companies and early adoption is not permitted. The Company is evaluating the method of adoption and the impact of the adoption of ASU 2014-09 on its consolidated financial statements.

Cautionary Forward Looking Statements

When included in this Annual Report or in documents incorporated herein by reference, the words "should," "expects," "intends," "anticipates," "believes," "estimates," "approximates," "targets," "plans" and analogous expressions are intended to identify forward-looking statements. One can also identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. Although it is not possible to predict or identify all risk factors, such risks and uncertainties may include, among others, levels of business activity and operating expenses, expenses relating to corporate compliance requirements, cash flows, global economic and business conditions, successful integration of acquisitions, the timing and costs of restructuring programs, successful marketing of the Company's products and services offerings, successful implementation of the Company’s M&A program including identifying appropriate targets, consummating transactions and successfully integrating the businesses, successful implementation of the Company’s government contracting programs, competition, changes in foreign, political and economic conditions, fluctuating foreign currencies compared to the U.S. dollar, rapid changes in technologies, client preferences, the Company’s arrangements with suppliers of voice equipment and technology, government budgetary constraints and various other matters, many of which are beyond the Company’s control. Additional risk factors are included in this Annual Report. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and speak only as of the date of this Annual Report. The Company expressly disclaims any obligation or undertaking to release publicly any updates or any changes in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based and cautions you not to unduly rely on any such forward-looking statements.

Item7A. Quantitative and Qualitative Disclosures About Market Risk.

The Company is exposed to market risks in the ordinary course of business that include interest-rate volatility and foreign currency exchange rates volatility. Market risk is measured as the potential negative impact on earnings, cash flows or fair values resulting from a hypothetical change in interest rates or foreign currency exchange rates over the next year. The Company does not hold or issue any financial derivative instruments (other than those specifically noted below) nor does it engage in speculative trading of financial derivatives.

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Interest-rate Risk

The Company’s primary interest-rate risk relates to its long-term debt obligations. As of March 31, 2015, the Company had total long-term obligations of $136,000 under the Credit Agreement. Of the outstanding debt, $125,000 was in variable rate debt that was effectively converted to a fixed rate through an interest-rate swap agreement (discussed in more detail below) and $11,000 was in variable rate obligations. As of March 31, 2015, an instantaneous 100 basis point increase in the interest rate of the variable rate debt would decrease the Company’s net income in the subsequent fiscal year by $27 ($18 net of tax) assuming the Company employed no intervention strategies.

To mitigate the risk of interest-rate fluctuations associated with the Company’s variable rate long-term debt, the Company has implemented an interest-rate risk management strategy that incorporates the use of derivative instruments to minimize significant unplanned fluctuations in earnings caused by interest-rate volatility. The Company’s goal is to manage interest-rate sensitivity by modifying the re-pricing characteristics of certain balance sheet liabilities so that the net-interest margin is not, on a material basis, adversely affected by the movements in interest rates.

On November 15, 2011, the Company entered into a three-year floating-to-fixed interest-rate swap, with an effective start date of July 26, 2012, that is based on a three-month LIBOR rate versus a 1.25% fixed rate and has a notional value of $125,000. Changes in the fair market value of the interest-rate swap are recorded as an asset or liability within the Company’s Consolidated Balance Sheets and Interest expense (income) within the Company’s Consolidated Statements of Operations.

Foreign Exchange Rate Risk

The Company has operations, clients and suppliers worldwide, thereby exposing the Company’s financial results to foreign currency fluctuations. In an effort to reduce this risk of foreign currency fluctuations, the Company generally sells and purchases inventory based on prices denominated in U.S. dollars. Intercompany sales to subsidiaries are generally denominated in the subsidiaries’ local currency. The Company has entered into and will continue to enter into, on a selective basis, foreign currency contracts to reduce the foreign currency exposure related to certain intercompany transactions, primarily trade receivables and loans. All of the foreign currency contracts have been designated and qualify as cash flow hedges. The effective portion of any changes in the fair value of the derivative instruments is recorded in Accumulated Other Comprehensive Income ("AOCI") until the hedged forecasted transaction occurs or the recognized currency transaction affects earnings. Once the forecasted transaction occurs or the recognized currency transaction affects earnings, the effective portion of any related gains or losses on the cash flow hedge is reclassified from AOCI to the Company’s Consolidated Statements of Operations. In the event it becomes probable that the hedged forecasted transaction will not occur, the ineffective portion of any gain or loss on the related cash flow hedge would be reclassified from AOCI to the Company’s Consolidated Statements of Operations.

As of March 31, 2015, the Company had open foreign currency contracts in Australian and Canadian dollars, Danish krone, Euros, Mexican pesos, Norwegian kroner, British pounds sterling, Swedish krona, Swiss francs and Japanese yen. The open contracts have contract rates ranging from 1.15 to 1.29 Australian dollar, 1.10 to 1.26 Canadian dollar, 5.56 to 6.59 Danish krone, 0.73 to 0.89 Euro, 14.63 to 15.19 Mexican peso, 6.32 to 7.66 Norwegian kroner, 0.62 to 0.68 British pound sterling, 6.90 to 8.38 Swedish krona, 0.95 to 0.96 Swiss franc and 104.85 to 119.85 Japanese yen, all per U.S. dollar. The total open contracts had a notional amount of $50,874 and will expire within eight months.

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Item8. Financial Statements and Supplementary Data.

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

	Page
Report of Independent Registered Public Accounting Firm	27
Report of Independent Registered Public Accounting Firm on Internal Control over Financial Reporting	28
Consolidated Balance Sheets	29
Consolidated Statements of Operations	30
Consolidated Statements of Comprehensive Income (Loss)	31
Consolidated Statements of Stockholders’ Equity	32
Consolidated Statements of Cash Flows	33
Notes to the Consolidated Financial Statements	34

26

Report of Independent Registered Public Accounting Firm

Board of Directors and Stockholders

Black Box Corporation

Lawrence, Pennsylvania

We have audited the accompanying consolidated balance sheets of Black Box Corporation as of March 31, 2015 and 2014 and the related consolidated statements of operations, comprehensive income (loss), stockholders' equity and cash flows for each of the three years in the period ended March 31, 2015. In connection with our audits of the financial statements, we have also audited Schedule II - Valuation and Qualifying Accounts. These financial statements and schedule are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements and schedule based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and schedule. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Black Box Corporation at March 31, 2015 and 2014, and the results of its operations and its cash flows for each of the three years in the period ended March 31, 2015, in conformity with accounting principles generally accepted in the United States of America.

Also, in our opinion, the financial statement schedule, when considered in relation to the basic consolidated financial statements taken as a whole, presents fairly, in all material respects, the information set forth therein.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), Black Box Corporation's internal control over financial reporting as of March 31, 2015, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and our report dated May 15, 2015, expressed an unqualified opinion thereon.

/s/ BDO USA, LLP

Chicago, Illinois

May 15, 2015

27

Report of Independent Registered Public Accounting Firm on Internal Control over Financial Reporting

Board of Directors and Stockholders

Black Box Corporation

Lawrence, Pennsylvania

We have audited Black Box Corporation's internal control over financial reporting as of March 31, 2015, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (the COSO criteria). The Company's management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying “Item 9A, Management's Report on Internal Control Over Financial Reporting.” Our responsibility is to express an opinion on the company's internal control over financial reporting based on our audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audit also included performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of March 31, 2015, based on the COSO criteria.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of Black Box Corporation as of March 31, 2015 and 2014, and the related consolidated statements of operations, comprehensive income (loss), stockholders' equity, and cash flows for each of the three years in the period ended March 31, 2015 and our report dated May 15, 2015 expressed an unqualified opinion thereon.

/s/ BDO USA, LLP

Chicago, Illinois

May 15, 2015

28

BLACK BOX CORPORATION

CONSOLIDATED BALANCE SHEETS

	March 31,
In thousands, except par value	2015			2014
Assets
Cash and cash equivalents	$	23,534		$	30,810
Accounts receivable, net of allowance for doubtful accounts of $5,109 and $6,004	150,562			156,549
Inventories, net	54,437			52,211
Costs/estimated earnings in excess of billings on uncompleted contracts	79,329			89,789
Other assets	35,475			26,974
Total current assets	343,337			356,333
Property, plant and equipment, net	32,247			29,052
Goodwill, net	191,178			192,954
Intangibles, net	88,098			98,645
Other assets	31,399			35,045
Total assets	$	686,259		$	712,029
Liabilities
Accounts payable	$	64,509		$	64,603
Accrued compensation and benefits	24,817			26,075
Deferred revenue	34,913			33,847
Billings in excess of costs/estimated earnings on uncompleted contracts	16,380			15,932
Other liabilities	47,100			40,184
Total current liabilities	187,719			180,641
Long-term debt	137,267			160,429
Other liabilities	24,162			19,842
Total liabilities	349,148			360,912
Stockholders’ equity
Preferred stock authorized 5,000, par value $1.00, none issued	—			—
Common stock authorized 100,000, par value $.001, 15,365 and 15,558 shares outstanding, 26,305 and 26,136 issued	26			26
Additional paid-in capital	498,052			492,427
Retained earnings	258,388			249,217
Accumulated other comprehensive income (loss)	(13,399		)	7,327
Treasury stock, at cost 10,940 and 10,578 shares	(405,956		)	(397,880		)
Total stockholders’ equity	337,111			351,117
Total liabilities and stockholders’ equity	$	686,259		$	712,029

SeeNotes to the Consolidated Financial Statements

29

BLACK BOX CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

	Year Ended March 31,
In thousands, except per share amounts	2015		2014			2013
Revenues
Total Products	$	176,819	$	182,153		$	186,283
Total Services	815,625		789,521			811,503
Total	992,444		971,674			997,786
Cost of sales *
Total Products	103,075		105,477			103,876
Total Services	587,100		562,615			573,980
Total	690,175		668,092			677,856
Gross profit	302,269		303,582			319,930
Selling, general & administrative expenses	263,146		245,521			249,924
Goodwill impairment loss	—		154,429			—
Intangibles amortization	10,549		12,024			13,737
Operating income (loss)	28,574		(108,392		)	56,269
Interest expense, net	4,416		4,647			6,090
Other expenses (income), net	570		1,197			3,716
Income (loss) before provision for income taxes	23,588		(114,236		)	46,463
Provision (benefit) for income taxes	8,246		1,637			17,657
Net income (loss)	$	15,342	$	(115,873	)	$	28,806
Earnings (loss) per common share
Basic	$	1.00	$	(7.33	)	$	1.73
Diluted	$	0.99	$	(7.33	)	$	1.73
Weighted-average common shares outstanding
Basic	15,407		15,813			16,627
Diluted	15,483		15,813			16,689
Dividends per share	$	0.40	$	0.36		$	0.32

* Exclusive of depreciation and intangibles amortization.

SeeNotes to the Consolidated Financial Statements

30

BLACK BOX CORPORATION

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

	Year Ended March 31,
In thousands	2015			2014			2013
Net income (loss)	$	15,342		$	(115,873	)	$	28,806
Other comprehensive income (loss)
Foreign currency translation adjustment	(17,954		)	4,288			(4,237		)
Pension
Actuarial gain (loss), net of taxes of ($1,950), $962 and ($692)	(2,999		)	1,386			(1,823		)
Amounts reclassified into results of operations, net of taxes of $112, $185 and $104	172			283			273
Derivative instruments
Net change in fair value of cash flow hedges, net of taxes of ($154), ($744) and ($142)	(250		)	(1,212		)	(375		)
Amounts reclassified into results of operations, net of taxes of $187, $692 and $136	305			1,125			357
Other comprehensive income (loss)	$	(20,726	)	$	5,870		$	(5,805	)
Comprehensive income (loss)	$	(5,384	)	$	(110,003	)	$	23,001

SeeNotes to the Consolidated Financial Statements

31

BLACK BOX CORPORATION

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

	Common Stock			Treasury Stock							Accumulated other comprehensive income (loss)
In thousands	Shares	$.001 par		Shares	$			Additional Paid-in Capital			Foreign Currency Translation Adjustment			Derivative Instruments			Defined Benefit Pension			Retained Earnings			Total
March 31, 2012	25,730	$	26	8,250	$	(338,872	)	$	478,726		$	17,046		$	(153	)	$	(9,631	)	$	347,242		$	494,384
Net income (loss)																				28,806			28,806
Foreign currency translation adjustment											(4,237		)										(4,237		)
Pension, net of taxes
Actuarial gain (loss)																	(1,823		)				(1,823		)
Actuarial gain (loss) reclassified into results of operations																	273						273
Derivative Instruments, net of taxes
Net change in fair value of cash flow hedges														(375		)							(375		)
Amounts reclassified into results of operations														357									357
Stock compensation expense								7,712															7,712
Dividends declared																				(5,273		)	(5,273		)
Issuance of common stock	168	—						—															—
Repurchases of common stock				1,515	(37,214		)																(37,214		)
Tax impact from equity awards								(363		)													(363		)
March 31, 2013	25,898	$	26	9,765	$	(376,086	)	$	486,075		$	12,809		$	(171	)	$	(11,181	)	$	370,775		$	482,247
Net income (loss)																				(115,873		)	(115,873		)
Foreign currency translation adjustment											4,288												4,288
Pension, net of taxes
Actuarial gain (loss)																	1,386						1,386
Actuarial gain (loss) reclassified into results of operations																	283						283
Derivative Instruments, net of taxes
Net change in fair value of cash flow hedges														(1,212		)							(1,212		)
Amounts reclassified into results of operations														1,125									1,125
Stock compensation expense								6,589															6,589
Dividends declared																				(5,685		)	(5,685		)
Issuance of common stock	238	—						—															—
Repurchases of common stock				813	(21,794		)																(21,794		)
Proceeds from the exercise of stock options								988															988
Tax impact from equity awards								(1,225		)													(1,225		)
March 31, 2014	26,136	$	26	10,578	$	(397,880	)	$	492,427		$	17,097		$	(258	)	$	(9,512	)	$	249,217		$	351,117
Net income (loss)																				15,342			15,342
Foreign currency translation adjustment											(17,954		)										(17,954		)
Pension, net of taxes
Actuarial gain (loss)																	(2,999		)				(2,999		)
Actuarial gain (loss) reclassified into results of operations																	172						172
Derivative Instruments, net of taxes
Net change in fair value of cash flow hedges														(250		)							(250		)
Amounts reclassified into results of operations														305									305
Stock compensation expense								6,009															6,009
Dividends declared																				(6,171		)	(6,171		)
Issuance of common stock	169	—						—															—
Repurchases of common stock				362	(8,076		)																(8,076		)
Tax impact from equity awards								(384		)													(384		)
March 31, 2015	26,305	$	26	10,940	$	(405,956	)	$	498,052		$	(857	)	$	(203	)	$	(12,339	)	$	258,388		$	337,111

SeeNotes to the Consolidated Financial Statements

32

BLACK BOX CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Year Ended March 31,
In thousands	2015			2014			2013
Operating Activities
Net income (loss)	$	15,342		$	(115,873	)	$	28,806
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities
Intangibles amortization	10,549			12,024			13,737
Depreciation	6,978			6,187			5,386
Loss (gain) on sale of property	(143		)	92			(105		)
Deferred taxes	4,656			(8,672		)	4,144
Stock compensation expense	6,009			6,589			7,712
Change in fair value of interest-rate swaps	(1,147		)	(832		)	606
Goodwill impairment loss	—			154,429			—
Joint venture investment loss	—			822			2,670
Changes in operating assets and liabilities (net of acquisitions)
Accounts receivable, net	1,530			(2,866		)	10,047
Inventories, net	(3,485		)	3,299			1,231
Costs/estimated earnings in excess of billings on uncompleted contracts	9,892			11,767			(13,928		)
All other assets	(14,152		)	(778		)	(3,217		)
Billings in excess of costs/estimated earnings on uncompleted contracts	580			2,543			(908		)
Accounts payable	1,786			(1,360		)	(4,859		)
All other liabilities	8,103			(11,025		)	(4,621		)
Net cash provided by (used for) operating activities	$	46,498		$	56,346		$	46,701
Investing Activities
Capital expenditures	$	(8,515	)	$	(7,338	)	$	(6,323	)
Capital disposals	208			16			389
Acquisition of businesses (payments)/recoveries	—			—			17
Prior merger-related (payments)/recoveries	(780		)	(779		)	(2,388		)
Net cash provided by (used for) investing activities	$	(9,087	)	$	(8,101	)	$	(8,305	)
Financing Activities
Proceeds (repayments) from long-term debt	$	(24,475	)	$	(27,382	)	$	7,735
Proceeds (repayments) from short-term debt	(2,291		)	2,267			4,005
Deferred financing costs	—			—			(20		)
Purchase of treasury stock	(8,076		)	(21,794		)	(37,214		)
Proceeds from the exercise of stock options	—			988			—
Payment of dividends	(6,034		)	(5,576		)	(5,206		)
Increase (decrease) in cash overdrafts	(321		)	(524		)	1,237
Net cash provided by (used for) financing activities	$	(41,197	)	$	(52,021	)	$	(29,463	)
Foreign currency exchange impact on cash	$	(3,490	)	$	3,866		$	(657	)
Increase/(decrease) in cash and cash equivalents	$	(7,276	)	$	90		$	8,276
Cash and cash equivalents at beginning of period	$	30,810		$	30,720		$	22,444
Cash and cash equivalents at end of period	$	23,534		$	30,810		$	30,720
Supplemental cash flow
Cash paid for interest	$	5,450		$	5,527		$	5,092
Cash paid for income taxes	8,259			13,651			10,097
Non-cash financing activities
Dividends payable	1,537			1,400			1,291
Capital leases	2,028			260			33

SeeNotes to the Consolidated Financial Statements

33

BLACK BOX CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Note 1: Business and Basis of Presentation

Business

Black Box Corporation ("Black Box," or "the Company”) is a leading technology solutions provider dedicated to helping customers design, build, manage, and secure their IT infrastructure. The Company offers Products and Services that it distributes through two platforms it has built over its 39-year history. The Products platform provides networking solutions through the sale of products including: (i) IT infrastructure, (ii) specialty networking, (iii) multimedia and (iv) keyboard/video/mouse ("KVM") switching. The Services platform is comprised of engineering and design, network operations centers, technical certifications, national and international sales teams, remote monitoring, on-site service teams and technology partner centers of excellence which includes dedicated sales and engineering resources. The primary services offered through this platform include: (i) communications lifecycle services, (ii) unified communications, (iii) structured cabling, (iv) video/AV services, (v) in-building wireless and (vi) data center services. Founded in 1976, Black Box, a Delaware corporation, is headquartered near Pittsburgh in Lawrence, Pennsylvania.

In connection with a new management team and a renewed business strategy, the Company has realigned its organizational structure which resulted in the identification of new operating segments (North America Products, North America Services, International Products and International Services) for the purpose of making operational decisions and assessing financial performance effective, on a prospective basis, beginning on April 1, 2013. See Note 5 and Note 15 for additional information.

Basis of Presentation

References herein to "Fiscal Year" or "Fiscal" mean the Company’s fiscal year ended March 31 for the year referenced. All references to dollar amounts herein are presented in thousands, except per share amounts, unless otherwise noted.

The consolidated financial statements include the accounts of the parent company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain items in the consolidated financial statements of prior years have been reclassified to conform to the current year’s presentation.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires Company management ("Management") to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates in these financial statements include project progress towards completion to estimated budget, allowances for doubtful accounts receivable, sales returns, net realizable value of inventories, loss contingencies, warranty reserves, intangible assets and goodwill. Actual results could differ from those estimates. Management believes the estimates made are reasonable.

Note 2: Significant Accounting Policies

Cash and cash equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents are stated at cost, which approximates fair value.

Allowance for doubtful accounts receivable

An allowance for doubtful accounts is recorded as an offset to accounts receivable in order to present the net balance that the Company believes will be collected. This allowance is based on both recent trends in certain accounts receivable ("specific reserve") estimated to be a greater credit risk as well as general trends in the entire accounts receivable pool ("general reserve"). The Company computes a specific reserve by identifying specifically at-risk accounts receivable and applying historic reserve factors to the outstanding balance. The Company computes a general reserve by reviewing the accounts receivable aging and applying reserve factors based upon the age of the account receivable. Additions to the allowance for doubtful accounts are charged to Selling, general & administrative expense within the Company’s Consolidated Statements of Operations, and deductions from the allowance are recorded when specific accounts receivable are written off as uncollectible. The provision for doubtful accounts expense was $1,638, $4,324 and $3,556 for Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively.

34

Inventories

Inventories are valued at the lower of cost or market. The Company uses the first-in, first-out average cost method to value the majority of its inventory. However, several locations within the Company use other valuation methods, including first-in, first-out ("FIFO"). The Company records an estimate for slow moving and obsolete inventory ("inventory reserve") based upon our product knowledge, physical inventory observation, future demand, market conditions and an aging analysis of the inventory on hand. For “convenience,” we reduce inventory cost through a contra asset rather than through a new cost basis. Upon a subsequent sale or disposal of the impaired inventory, the corresponding reserve is relieved to ensure the cost basis of the inventory reflects any reductions.

Property, Plant and Equipment

Property, plant and equipment are stated at cost, net of accumulated depreciation. Maintenance, repairs and minor renewals are charged to operations as incurred. Major renewals and betterments, which substantially extend the useful life of the property, are capitalized at cost. Upon sale or other disposition of assets, the costs and related accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is reflected in the Consolidated Statements of Operations.

Depreciation is computed using the straight-line method based on the estimated useful lives of 30 to 40 years for buildings and improvements and 3 to 5 years for equipment and computer hardware and software. Leasehold improvements are depreciated over their lease terms, or useful lives, if shorter. The Company reviews property, plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the estimated future cash flows (undiscounted) expected to result from the use and eventual disposition of an asset is less than the carrying amount of the asset, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of the asset. No impairment of property, plant and equipment has been identified during any of the periods presented.

Goodwill

Goodwill is the excess of purchase price over the value of net assets acquired in acquisitions. The Company conducts its annual goodwill impairment assessment during the third quarter of its fiscal year, using data as of the end of the second quarter of its fiscal year. Goodwill is tested using a two-step process. The first step of the goodwill impairment assessment, used to identify potential impairment, compares the fair value of a reporting unit with its carrying amount, including goodwill ("net book value"). If the fair value of a reporting unit exceeds its net book value, goodwill of the reporting unit is considered not impaired, thus the second step of the impairment test is unnecessary. If net book value of a reporting unit exceeds its fair value, the second step of the goodwill impairment test will be performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment assessment, used to measure the amount of impairment loss, if any, compares the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. The implied fair value of reporting unit goodwill is determined as the residual between the fair value of the reporting unit and the fair value of its assets (including any unrecognized intangible assets) and liabilities. If the carrying amount of reporting unit goodwill exceeds the implied fair value of that goodwill, an impairment loss shall be recognized in an amount equal to that excess.

In the first step of the goodwill impairment assessment, the Company uses an income approach to derive a present value of the reporting unit’s projected future annual cash flows and the present residual value of the reporting unit. The Company uses the income approach because it believes that the discounted future cash flows provide greater detail and opportunity to reflect facts, circumstances and economic conditions for each reporting unit. In addition, the Company believes that this valuation approach is a proven valuation technique and methodology for its industry and is widely accepted by investors. The Company uses a variety of underlying assumptions to estimate these future cash flows, which vary for each of the reporting units and include (i) future revenue growth rates, (ii) future operating profitability, (iii) the weighted-average cost of capital and (iv) a terminal growth rate. If the Company’s estimates and assumptions used in the discounted future cash flows should change at some future date, the Company could incur an impairment charge which could have a material adverse effect on the results of operations reported for the period in which the impairment occurs.

Intangible Assets

Definite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives of 3 to 5 years for non-compete agreements, one year for backlog and 4 to 20 years for customer relationships. Indefinite-lived intangible assets not subject to amortization consist solely of the Company’s trademark portfolio and are reviewed for impairment annually. The Company reviews definite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the estimated future cash flows (undiscounted) expected to result from the use and eventual disposition of an asset is less than the carrying amount of the asset, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of the asset. No impairments of intangible assets have been identified during any of the periods presented.

35

Derivative Instruments and Hedging Activities

Foreign Currency Contracts

The Company has operations, clients and suppliers worldwide, thereby exposing the Company’s financial results to foreign currency fluctuations. In an effort to reduce this risk of foreign currency fluctuations, the Company generally sells and purchases inventory based on prices denominated in U.S. dollars. Intercompany sales to subsidiaries are generally denominated in the subsidiaries’ local currency. The Company has entered and will continue in the future, on a selective basis, to enter into foreign currency contracts to reduce the foreign currency exposure related to certain intercompany transactions, primarily trade receivables and loans. All of the foreign currency contracts have been designated and qualify as cash flow hedges. The effective portion of any changes in the fair value of the derivative instruments is recorded in Accumulated Other Comprehensive Income ("AOCI") until the hedged forecasted transaction occurs or the recognized currency transaction affects earnings. Once the forecasted transaction occurs or the recognized currency transaction affects earnings, the effective portion of any related gains or losses on the cash flow hedge is reclassified from AOCI to the Company’s Consolidated Statements of Operations. In the event it becomes probable that the hedged forecasted transaction will not occur, the ineffective portion of any gain or loss on the related cash flow hedge would be reclassified from AOCI to the Company’s Consolidated Statements of Operations.

Interest-rate Swap

To mitigate the risk of interest-rate fluctuations associated with the Company’s variable rate long-term debt, the Company has implemented an interest-rate risk management strategy that incorporates the use of derivative instruments to minimize significant unplanned fluctuations in earnings caused by interest-rate volatility. The Company’s goal is to manage interest-rate sensitivity by modifying the re-pricing characteristics of certain balance sheet liabilities so that the net-interest margin is not, on a material basis, adversely affected by the movements in interest rates. The interest-rate swap (defined below) is recognized on the consolidated balance sheets at fair value. It does not meet the requirements for hedge accounting and is marked to market through Interest expense (income) within the Company’s Consolidated Statements of Operations.

Foreign Currency Translation

The financial statements of the Company’s foreign subsidiaries, except those subsidiaries in Brazil and Mexico, are recorded in the local currency, which is the functional currency. Foreign currency assets and liabilities are translated into U.S. dollars at the rate of exchange existing at the year-end date. Revenues and expenses are translated at the average monthly exchange rates. Adjustments resulting from these translations are recorded in AOCI within the Company’s Consolidated Balance Sheets and will be included in the Company’s Consolidated Statements of Operations upon sale or liquidation of the foreign investment. Gains and losses from foreign currency transactions, denominated in a currency other than the functional currency, are insignificant to the Consolidated Statement of Operations and are recorded in Other expenses (income) within the Company’s Consolidated Statements of Operations. The U.S. dollar is the functional currency for those subsidiaries located in Brazil and Mexico.

Revenue

Products revenues are recognized when title to products sold passes to the client, which generally occurs upon shipment from the Company’s location.

Services revenues are recognized from maintenance service contracts, moves, adds and changes and network integration services when the services are provided. Service contracts are generally pre-billed, recorded in Deferred revenue within the Company’s Consolidated Balance Sheets and are generally recognized over the service period on a straight-line basis. Revenues from the sale and installation of products and systems are recognized using the percentage-of-completion method based upon the proportion of actual costs incurred to estimated total costs. At the time a loss on a contract becomes known, the entire amount of the estimated loss is recognized immediately in the financial statements. The Company has historically made reasonably accurate estimates of the extent of progress towards completion, contract revenues and contract costs on its long-term contracts. However, due to uncertainties inherent in the estimation process, actual results could differ materially from those estimates.

Sales returns - At the time of sale, an estimate for sales returns is recorded based on historical experience.

Warranties - Estimated future warranty costs related to certain products are charged to operations in the period the related revenue is recognized based on historical experience.

Shipping and handling fees and costs - All fees billed to clients for shipping and handling are classified as a component of Revenues. All costs associated with shipping and handling are classified as a component of Cost of sales.

Sales tax and other tax presentation - Sales taxes and other taxes are collected from clients on behalf of governmental authorities at the time of sale. These taxes are accounted for on a net basis and are not included in Revenues or Cost of sales.

36

Stock-Based Compensation

Stock options: The Company records expense for those stock awards, vesting during the period, for which the requisite service period is expected to be rendered. The Company uses historical data in order to project the future employee turnover rates used to estimate the number of stock options for which the requisite service period will not be rendered. The fair value of stock options is determined on the grant date using a Black-Scholes option pricing model which includes several subjective assumptions. The Company recognizes the fair value of these awards into expense ratably over the requisite service periods associated with the award. The assumptions are summarized as follows:

Expected volatility: The Company estimates the volatility of its common stock, par value $.001 per share (the "common stock"), at the date of grant based on the historical volatility of its common stock.

Dividend yield: The Company estimates the dividend yield assumption based on the Company’s historical and projected dividend payouts.

Risk-free interest rate: The Company derives its risk-free interest rate on the observed interest rates appropriate for the term of the Company’s employee stock options.

Expected holding period: The Company estimates the expected holding period based on historical experience.

Restricted stock units: The Company records expense for those stock awards, vesting during the period, for which the requisite service period is expected to be rendered. The Company uses historical data in order to project the future employee turnover rates used to estimate the number of restricted stock units for which the requisite service period will not be rendered. The fair value of restricted stock units is determined based on the number of restricted stock units granted and the closing market price of the common stock on the date of grant. The Company recognizes the fair value of awards into expense ratably over the requisite service periods associated with the award.

Performance share awards: The Company records expense for those stock awards, vesting during the period, for which the requisite service period is expected to be rendered. The Company uses historical data in order to project the future employee turnover rates used to estimate the number of performance shares for which the requisite service period will not be rendered. The fair value of performance share awards subject to a cumulative Adjusted EBITDA target (as defined in the performance share award agreement) is determined based on the number of performance shares granted and the closing market price of the common stock on the date of grant. The Company recognizes the fair value of awards into expense ratably over the requisite service periods associated with the award. The probability of vesting of the award and the applicable number of shares of common stock to be issued are reassessed at each period end. The fair value of performance share awards subject to the Company’s total shareholder return ranking relative to the total shareholder return of the common stock (or its equivalent) of the companies in a peer group (the "Company’s Relative TSR Ranking") is determined on the grant date using a Monte-Carlo simulation valuation method which includes several subjective assumptions. The Company recognizes the fair value of these awards into expense ratably over the requisite service periods associated with the award. The assumptions are summarized as follows:

Expected volatility. The Company estimates the volatility of its common stock at the date of grant based on the historical volatility of its common stock.

Risk-Free rate. The Company derives its risk-free interest rate on the observed interest rates with an equivalent remaining term equal to the expected life of the award.

Dividend yield. The Company estimates the dividend yield assumption based on the Company’s historical and projected dividend payouts.

Marketing and Advertising Expenses

Catalogs and other direct marketing pieces are capitalized and amortized over their expected period of future benefit ranging from one to two-years, which is recorded in Prepaid and other assets within the Company’s Consolidated Balance Sheets. All other advertising costs are expensed as incurred.

Advertising expense was $5,629, $4,778 and $4,636 for Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively, and is recorded in Selling, general & administrative expenses within the Company’s Consolidated Statements of Operations.

37

Income Taxes

The Company accounts for income taxes using an asset and liability approach, which requires the recognition of deferred income tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. Deferred income tax assets and liabilities are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using enacted tax rates. A valuation allowance is provided on deferred tax assets if it is determined that it is more likely than not that the asset will not be realized.

The Company requires that the realization of an uncertain income tax position must be "more likely than not" (i.e., greater than 50% likelihood of receiving a benefit) before it can be recognized in the financial statements. The benefit to be recorded in the financial statements is the amount most likely to be realized assuming a review by tax authorities having all relevant information and applying current conventions. The Company includes interest and penalties related to uncertain tax positions within the Provision (benefit) for income taxes within the Company’s Consolidated Statements of Operations.

Per share information

Basic earnings (loss) per common share ("basic EPS") is computed by dividing Net income (loss) by the weighted-average number of shares of the common stock outstanding during the period. Diluted earnings (loss) per share of the common stock is computed similarly to that of basic EPS, except that the weighted-average number of shares of the common stock outstanding during the period is adjusted to include the number of additional shares of the common stock that would have been outstanding if the potential number of dilutive shares of the common stock had been issued.

Fair Value

The Company’s assets and liabilities recorded at fair value are categorized based upon a fair value hierarchy that ranks the quality and reliability of the information used to determine fair value. The levels of the fair value hierarchy are described below:

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3: Inputs that are both significant to the fair value measurement and unobservable.

Assets and liabilities measured at fair value are based on one or more of the valuation techniques. The valuation techniques are described below.

Market approach: The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.

Cost approach: The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (current replacement cost).

Income approach: The income approach uses valuation techniques to convert future amounts to a single present amount.

The fair value of foreign currency contracts is determined using the market approach and primarily based on observable foreign exchange forward rates. The fair value of pension plan assets is determined using a market approach and consists of $12,950 of mutual funds measured using level 1 inputs and $22,721 of common collective trusts measured using level 2 inputs. The fair value of the interest-rate swaps (as defined below) is determined using the income approach and is predominately based on observable interest rates and yield curves. The fair value of certain of the Company’s financial instruments, including Accounts receivable and Accounts payable, approximates the carrying value due to the relatively short maturity of such instruments. The fair value of the Company's Long-term debt approximates carrying value because the interest rate is subject to change with market interest rates. There have been no changes in the Company’s valuation techniques used to measure fair values during Fiscal 2015. See Note 9 for further reference.

Recently Issued Accounting Standards

There have been no accounting pronouncements adopted during Fiscal 2015, Fiscal 2014 or Fiscal 2013 that had a material impact on the Company’s consolidated financial statements.

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In May 2014, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Codification ("ASC") Update No. 2014-09, "Revenue from Contracts with Customers" ("ASC 2014-09"), that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The core principle of ASC 2014-09 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expected to be entitled in exchange for those goods or services. Entities can use either of two methods: (i) retrospective to each prior period presented with the option to elect certain practical expedients as defined within ASC 2014-09; or (ii) retrospective with the cumulative effect of initially applying ASC 2014-09 recognized at the date of initial application and providing certain additional disclosures as defined per ASC 2014-09. ASC 2014-09 is effective for annual reporting periods (including interim periods therein) beginning after December 15, 2016 for public companies and early adoption is not permitted. The Company is evaluating the method of adoption and the impact of the adoption of ASU 2014-09 on its consolidated financial statements.

Note 3: Inventories

The Company’s Inventories consist of the following:

	March 31,
	2015			2014
Raw materials	$	1,674		$	1,294
Finished goods	69,387			68,303
Inventory, gross	71,061			69,597
Excess and obsolete inventory reserves	(16,624		)	(17,386		)
Inventories, net	$	54,437		$	52,211

Note 4: Property, Plant and Equipment

The Company’s Property, plant and equipment consist of the following:

	March 31,
	2015			2014
Land	$	2,396		$	2,396
Building and improvements	31,367			31,384
Equipment and computer hardware and software	77,458			71,366
Property, plant and equipment, gross	111,221			105,146
Accumulated depreciation	(78,974		)	(76,094		)
Property, plant and equipment, net	$	32,247		$	29,052

Depreciation expense was $6,978, $6,187 and $5,386 for Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively.

Note 5: Goodwill

As previously disclosed, the Company realigned its organizational structure as a result of a new management team and a renewed business strategy. In connection with this reorganization, the Company evaluated its historical geographic-based operating segments (North America, Europe, Latin America and Pacific Rim) in relation to GAAP and identified the following new operating segments: (i) North America Products, (ii) North America Services, (iii) International Products and (iv) International Services. The new operating segments became effective, on a prospective basis, beginning on April 1, 2013. Note that the Company's operating segments are also its reporting units (for goodwill assessment purposes) and reporting segments (for financial reporting purposes). In connection with the identification of the new operating segments, the Company allocated goodwill from the historical geographic-based reporting units to the new reporting units using a relative fair market value approach.See Note 1 and Note 15 for additional information.

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The following table summarizes Goodwill at the Company’s reporting segments, which has been allocated from the historical geographic-based reporting segments using a relative fair market value approach:

	North America Products			North America Services			International Products			International Services			Total
Goodwill (gross) at March 31, 2013	$	79,763		$	506,222		$	38,524		$	38,685		$	663,194
Accumulated impairment losses at March 31, 2013	$	(232	)	$	(277,132	)	$	(13,724	)	$	(26,709	)	$	(317,797	)
Goodwill (net) at March 31, 2013	$	79,531		$	229,090		$	24,800		$	11,976		$	345,397
Foreign currency translation adjustment	$	(14	)	$	59		$	500		$	1,441		$	1,986
Goodwill impairment loss	$	(42,613	)	$	(86,904	)	$	(20,159	)	$	(4,753	)	$	(154,429	)
Goodwill (gross) at March 31, 2014	$	79,749		$	506,281		$	39,024		$	40,126		$	665,180
Accumulated impairment losses at March 31, 2014	(42,845		)	(364,036		)	(33,883		)	(31,462		)	(472,226		)
Goodwill (net) at March 31, 2014	$	36,904		$	142,245		$	5,141		$	8,664		$	192,954
Foreign currency translation adjustment	(4		)	(10		)	193			(1,955		)	(1,776		)
Goodwill (gross) at March 31, 2015	$	79,745		$	506,271		$	39,217		$	38,171		$	663,404
Accumulated impairment losses at March 31, 2015	(42,845		)	(364,036		)	(33,883		)	(31,462		)	(472,226		)
Goodwill (net) at March 31, 2015	$	36,900		$	142,235		$	5,334		$	6,709		$	191,178

Fiscal 2015

The Company conducted its annual goodwill impairment assessment during the third quarter of Fiscal 2015 using data as of September 27, 2014. The first step of the goodwill impairment assessment, used to identify potential impairment, resulted in a surplus of fair value over carrying amount for each of our reporting units thus the reporting units are considered not impaired and the second step of the impairment test is not necessary. The excess of the fair value over this carrying amount was $23,061, $68,364, $14,839 and $1,411 for North America Products, North America Services, International Products and International Services, respectively. A 100 basis point increase in the weighted-average cost of capital, which, holding all other assumptions constant, would have a significant impact on the fair value of a reporting unit and would decrease the fair value of the reporting units by $8,629, $41,488, $2,998 and $1,265 for North America Products, North America Services, International Products and International Services, respectively.

During the fourth quarter of Fiscal 2015 in connection with planning for the fiscal year ending March 31, 2016, and based on the results of Fiscal 2015, the Company reduced its longer-term revenue and profitability outlook for North America Services from the longer-term revenue and profitability outlook used in the annual goodwill impairment assessment completed in the third quarter of Fiscal 2015. The Company evaluated the impact of this reduced longer-term revenue and profitability outlook and determined that it was not more likely than not a reduction in the fair value of this reporting unit below its carrying amount; thus, no interim test was warranted. Such determination was based on the following considerations: (i) the Company continues to expect longer-term revenue and profit growth, but at lower rates (ii) the carrying amount for North America Services did not materially change from the annual goodwill impairment assessment completed in the third quarter of Fiscal 2015 (iii) the Company had $68,364 (31%) of excess of fair value over the carrying amount for North America Services from the annual goodwill impairment assessment completed in the third quarter of Fiscal 2015 and (iv) there were no material negative industry or macro-economic trends in the fourth quarter of Fiscal 2015. To illustrate the impact of the reduced longer-term revenue and profitability outlook, assuming all other assumptions held constant from the annual goodwill impairment assessment completed in the third quarter of Fiscal 2015, the excess of the fair value for North America Services would be reduced from $68,364 (31%) to $14,963 (7%). If the Company were to fail to meet forecasted results or further reduce its longer-term revenue and profitability outlook in the future, it could result in goodwill impairment loss that could have a material adverse effect on the results of operations.

40

Future events that could result in an interim assessment of goodwill impairment and/or a potential impairment loss include, but are not limited to, (i) significant underperformance relative to historical or projected future operating results, (ii) significant changes in the manner of or use of the assets or the strategy for the Company's overall business and (iii) significant negative industry or economic trends.

Fiscal 2014

On April 1, 2013, the Company conducted an interim goodwill impairment assessment because data, relevant to a goodwill impairment assessment, was readily available through the reassignment of goodwill to the Company's new business segments using the relative fair market value approach. The first step of the goodwill impairment assessment, used to identify potential impairment, resulted in a surplus of fair value over carrying amount for each of our new reporting units, thus the new reporting units were considered not impaired as of April 1, 2013 and the second step of the impairment test was not necessary.

Consistent with prior years, the Company conducted its annual goodwill impairment assessment as of the end of the second quarter of its fiscal year (September 28, 2013 for Fiscal 2014). Historically, this assessment was completed during the third quarter. However, given the reduced revenue and profitability outlook for Fiscal 2014 in each reporting unit announced in November 2013 with the second fiscal quarter financial results and changes in outlook as a result of the Company’s efforts to transform into a more relevant and effective solution provider, the Company determined it was necessary to extend completion of its assessment process in order to take into account a contemporary outlook for the Company’s business units that are being developed in connection with Fiscal 2015 planning.

During the fourth quarter, the Company determined that the carrying value of its reporting units exceeded the fair value of its reporting units, which included a contemporary outlook for each unit that had been developed in connection with Fiscal 2015 planning. As such, the Company proceeded to the second step of the goodwill impairment assessment. The Company, after consultation by Management with the Audit Committee (the "Audit Committee") of the Company's Board of Directors (the "Board"), concluded that the Company will record a non-cash, pre-tax goodwill impairment loss of $154,429, (consisting of $42,613, $86,904, $20,159 and $4,753 in its North America Products, North America Services, International Products and International Services reporting units, respectively) during the fourth quarter of Fiscal 2014 as a result of its annual goodwill assessment conducted as of September 28, 2013. The impairment charge did not impact the Company's business operations, compliance with debt covenants, future cash flows nor result in any cash expenditures.

The primary factors contributing to the goodwill impairment loss were actual and projected revenue and profitability for Fiscal 2014 and Fiscal 2015, and the corresponding impact beyond those periods. Fiscal 2014 revenues and profitability on a consolidated basis were at or near their lowest levels in the past 6 years. Products revenues in Fiscal 2014 were impacted by reduced spending in both direct and indirect channels by our government clients as a result of the federal budget sequestration, which the Company believes may continue to impact North America Products Revenues, relative to recent historic levels, for the foreseeable future. Services Revenues were impacted by weaker than anticipated client adoption of the rapidly changing communications technology in our core markets. Products and Services Operating income margin were impacted by historically low gross profit margins as a result of continued competitive pricing pressures and current period investments for growth programs which, it is expected, will continue in Fiscal 2015. The Company believes that these short-term investments will enable it to grow revenue profitably in the longer term. Also contributing to the goodwill impairment loss was an increased weighted-average cost of capital for all of our reporting units (primarily driven by debt-related components of the weighted-average cost of capital).

The Company then adjusted the carrying value of its reporting units to reflect the goodwill impairment loss and compared that adjusted carrying value to the fair value of the reporting units. The excess of the fair value over this adjusted carrying value was $24,909, $51,957, $16,430 and $1,859 for North America Products, North America Services, International Products and International Services, respectively. A 100 basis point increase in the weighted-average cost of capital, which, holding all other assumptions constant, would have a significant impact on the fair value of a reporting unit, would decrease the fair value of the reporting units by $8,911, $39,375, $3,333 and $1,402 for North America Products, North America Services, International Products and International Services, respectively.

Fiscal 2013

The Company conducted its annual goodwill impairment assessment during the third quarter of Fiscal 2013 using data as of September 29, 2012. The first step of the goodwill impairment assessment, used to identify potential impairment, resulted in a surplus of fair value over carrying amount for each of our reporting units, thus the reporting units are considered not impaired and the second step of the impairment test was not necessary.

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Note 6: Intangible Assets

The following table summarizes the gross carrying amount, accumulated amortization and net carrying amount by intangible asset class:

	March 31,
	2015						2014
	Gross Carrying Amount		Accum. Amort.		Net Carrying Amount		Gross Carrying Amount		Accum. Amort.		Net Carrying Amount
Definite-lived
Non-compete agreements	$	11,901	$	11,548	$	353	$	12,261	$	11,577	$	684
Customer relationships	137,267		77,988		59,279		137,267		68,644		68,623
Acquired backlog	20,838		20,111		727		20,838		19,239		1,599
Total	$	170,006	$	109,647	$	60,359	$	170,366	$	99,460	$	70,906
Indefinite-lived
Trademarks	35,992		8,253		27,739		35,992		8,253		27,739
Total	$	205,998	$	117,900	$	88,098	$	206,358	$	107,713	$	98,645

The Company’s indefinite-lived intangible assets consist solely of the Company’s trademark portfolio. The Company’s definite-lived intangible assets are comprised of employee non-compete agreements, customer relationships and backlog obtained through business acquisitions.

The following table summarizes the changes to the net carrying amounts by Intangible asset class:

	Trademarks		Non-Competes and Backlog			Customer Relationships			Total
March 31, 2013	$	27,739	$	3,754		$	79,175		$	110,668
Intangibles amortization	—		(1,472		)	(10,552		)	(12,024		)
Foreign Currency Translation Adjustment	—		1			—			1
March 31, 2014	$	27,739	$	2,283		$	68,623		$	98,645
Intangibles amortization	—		(1,205		)	(9,344		)	(10,549		)
Foreign Currency Translation Adjustment	—		2			—			2
March 31, 2015	$	27,739	$	1,080		$	59,279		$	88,098

The following table details the estimated intangibles amortization expense for the next five years.

Fiscal
2016	$	10,271
2017	8,884
2018	7,427
2019	6,446
2020	5,951
Thereafter	21,380
Total	$	60,359

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Note 7: Indebtedness

The Company’s long-term debt consists of the following:

	March 31,
	2015			2014
Revolving credit agreement	$	136,000		$	160,355
Other	2,132			277
Total debt	$	138,132		$	160,632
Less: current portion (included in Other liabilities)	(865		)	(203		)
Long-term debt	$	137,267		$	160,429

On March 23, 2012, the Company entered into a Credit Agreement (the "Credit Agreement") with Citizens Bank of Pennsylvania, as administrative agent, and certain other lender parties. The Credit Agreement expires on March 23, 2017. Borrowings under the Credit Agreement are permitted up to a maximum amount of $400,000, which the Company voluntarily reduced to $300,000 effective as of April 16, 2015, and includes up to $25,000 of swing-line loans and $25,000 of letters of credit. The Company voluntarily reduced the unused commitment of our Credit Agreement by $100,000 in order to reduce our commitment fee costs associated with the unused portion of the line. The Credit Agreement may be increased by the Company up to an additional $100,000 with the approval of the lenders and may be unilaterally and permanently reduced by the Company to not less than the then outstanding amount of all borrowings. Interest on outstanding indebtedness under the Credit Agreement accrues, at the Company’s option, at a rate based on either: (a) the greater of (i) the prime rate per annum of the agent then in effect and (ii) 0.50% plus the rate per annum announced by the Federal Reserve Bank of New York as being the weighted-average of the rates on overnight Federal funds transactions arranged by Federal funds brokers on the previous trading day, in each case plus 0% to 0.75% (determined by a leverage ratio based on the Company’s consolidated Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA")) or (b) a rate per annum equal to the LIBOR rate plus 0.875% to 1.750% (determined by a leverage ratio based on the Company’s consolidated EBITDA). The Credit Agreement requires the Company to maintain compliance with certain non-financial and financial covenants such as leverage and fixed-charge coverage ratios. As of March 31, 2015, the Company was in compliance with all covenants under the Credit Agreement.

The maximum amount of debt outstanding under the Credit Agreement, the weighted-average balance outstanding under the Credit Agreement and the weighted-average interest rate on all outstanding debt for Fiscal 2015 was $206,930, $182,149 and 1.7%, respectively, compared to $208,730, $190,015 and 1.5%, respectively, for Fiscal 2014, and $220,470, $203,072 and 1.5%, respectively, for Fiscal 2013.

As of March 31, 2015, the Company had $4,050 outstanding in letters of credit and $259,950 in unused commitments, which was reduced by $100,000 in April 2015, under the Credit Agreement.

At March 31, 2015, scheduled maturities or required payments of total debt for each of the five succeeding fiscal years were as follows:

Fiscal
2016	$	865
2017	136,634
2018	633
2019	—
2020	—
Total	$	138,132

Note 8: Derivative Instruments and Hedging Activities

The Company is exposed to certain market risks, including the effect of changes in foreign currency exchange rates and interest rates. The Company uses derivative instruments to manage financial exposures that occur in the normal course of business. It does not hold or issue derivatives for speculative trading purposes. The Company is exposed to non-performance risk from the counterparties in its derivative instruments. This risk would be limited to any unrealized gains on current positions. To help mitigate this risk, the Company transacts only with counterparties that are rated as investment grade or higher and all counterparties are monitored on a continuous basis. The fair value of the Company’s derivatives reflects this credit risk.

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Foreign currency contracts

The Company enters into foreign currency contracts to hedge exposure to variability in expected fluctuations in foreign currencies. As of March 31, 2015, the Company had open contracts in Australian and Canadian dollars, Danish krone, Euros, Mexican pesos, Norwegian kroner, British pounds sterling, Swedish krona, Swiss francs and Japanese yen which have been designated as cash flow hedges. These contracts had a notional amount of $50,874 and will expire within eight months. There was no hedge ineffectiveness during Fiscal 2015, Fiscal 2014 or Fiscal 2013. SeeNote 2 for additional information.

Interest-rate Swaps

On November 15, 2011, the Company entered into a three-year floating-to-fixed interest-rate swap, with an effective start date of July 26, 2012, that is based on a three-month LIBOR rate versus a 1.25% fixed rate and has a notional value of $125,000. This interest-rate swap does not qualify for hedge accounting and is hereinafter referred to as the "interest-rate swap." SeeNote 2 for additional information.

The following tables summarize the carrying amounts of derivative assets/liabilities and the impact on the Company’s Consolidated Statements of Operations:

		Asset Derivatives				Liability Derivatives
		March 31,
	Classification	2015		2014		2015		2014
Derivatives designated as hedging instruments
Foreign currency contracts	Other liabilities (current)					$	4,959	$	358
Foreign currency contracts	Other assets (current)	$	402	$	478
Derivatives not designated as hedging instruments
Interest-rate swaps	Other liabilities (non-current)					400		1,547

		Fiscal
	Classification	2015			2014			2013
Derivatives designated as hedging instruments
Gain (loss) recognized in other comprehensive income (effective portion), net of taxes	Other comprehensive income	$	(250	)	$	(1,212	)	$	(375	)
Amounts reclassified from AOCI into results of operations (effective portion), net of taxes	Selling, general & administrative expenses	305			1,125			357
Derivatives not designated as hedging instruments
Gain (loss) recognized in results of operations	Interest expense (income), net	1,147			832			(606		)

Note 9: Fair Value Disclosures

Recurring fair value measurements

The following table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2015, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value.

44

	Level 1		Level 2		Level 3		Total
Assets at Fair Value
Defined benefit pension plan assets	$	12,950	$	22,721	$	—	$	35,671
Foreign currency contracts	$	—	$	402	$	—	$	402
Total Assets at Fair Value	$	12,950	$	23,123	$	—	$	36,073
Liabilities at Fair Value
Foreign currency contracts	$	—	$	4,959	$	—	$	4,959
Interest-rate swap	$	—	$	400	$	—	$	400
Total Liabilities at Fair Value	$	—	$	5,359	$	—	$	5,359

Non-recurring fair value measurements

The Company’s assets and liabilities that are measured at fair value on a non-recurring basis include non-financial assets and liabilities initially measured at fair value in a business combination and Goodwill. As disclosed in Note 5, the Company reduced the book value of Goodwill to the implied fair value in Fiscal 2014. The Company utilized level 3 inputs to measure the fair value of Goodwill. See Note 2 for additional reference.

Note 10: Income Taxes

The domestic and foreign components of Income (loss) before provision (benefit) for income taxes are as follows:

	Fiscal
	2015		2014			2013
Domestic	$	17,865	$	(100,786	)	$	34,597
Foreign	5,723		(13,450		)	11,866
Consolidated	$	23,588	$	(114,236	)	$	46,463

The provision/(benefit) for income taxes consists of the following:

	Fiscal
	2015		2014			2013
Current
Federal	$	279	$	6,376		$	8,877
State	1,259		2,112			2,203
Foreign	2,052		1,821			2,433
Total current	3,590		10,309			13,513
Deferred	4,656		(8,672		)	4,144
Total provision (benefit) for income taxes	$	8,246	$	1,637		$	17,657

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Reconciliations between income taxes computed using the federal statutory income tax rate and the Company’s effective tax rate are as follows:

	Fiscal
	2015					2014					2013
	$			%		$			%		$			%
Federal statutory tax rate	$	8,256		35.0	%	$	(39,983	)	35.0	%	$	16,262		35.0	%
Foreign taxes, net of foreign tax credits	(418		)	(1.8	)	776			(0.7	)	(1,343		)	(2.9	)
Non-deductible expenses	(338		)	(1.4	)	(317		)	0.3		(434		)	(0.9	)
State income taxes, net of federal benefit	1,082			4.6		211			(0.2	)	1,343			2.9
International legal entity restructuring	(1,574		)	(6.6	)	—			—		—			—
Permanent book/tax differences	—			—		40,222			(35.2	)	—			—
Equity awards	1,940			8.2		1,626			(1.4	)	1,531			3.3
Other, net	(702		)	(3.0	)	(898		)	0.8		298			0.6
Effective tax rate	$	8,246		35.0	%	$	1,637		(1.4	)%	$	17,657		38.0	%

The effective tax rate of 35.0% for Fiscal 2015 was primarily due to a tax benefit from an international legal entity restructuring which was partially offset by the write-off of certain deferred tax assets related to equity awards. The effective tax rate of (1.4)% for Fiscal 2014 was primarily due to $114,920 of non-deductible goodwill impairment loss (see Note 5), a decrease in uncertain income tax positions (including interest and penalties) and the benefit associated with the Fiscal 2013 federal return to provision reconciliation partially offset by the write-off of certain deferred tax assets related to equity awards.

The components of current and long-term deferred tax liabilities/assets are as follows:

	March 31,
	2015			2014
Deferred Tax Liabilities
Goodwill and intangibles	$	18,957		$	17,251
Unremitted earnings of foreign subsidiaries	3			397
Other	1,428			256
Gross deferred tax liabilities	20,388			17,904
Deferred Tax Assets
Net operating losses	27,342			29,455
Basis of finished goods inventory	6,498			6,299
Reserve for bad debts	960			1,193
Foreign tax credit carry-forwards	1,596			195
Accrued employee costs	10,178			8,609
Stock-based compensation	6,141			8,712
Other	2,103			2,836
Gross deferred tax assets	54,818			57,299
Valuation allowance	(3,518		)	(3,518		)
Net deferred tax assets	51,300			53,781
Net deferred tax assets/(liabilities)	$	30,912		$	35,877

The net deferred tax asset of $30,912 in the table above is classified as either current or non-current under Other assets within the Company's Consolidated Balance Sheets. At March 31, 2015, the Company had $41,769, $107,498 and $23,863 of federal, state and foreign gross net operating loss carry-forwards, respectively. As a result of the Company’s acquisitions of InnerWireless and ACS Communications, Inc., Section 382 of the Internal Revenue Code of 1986, as amended (the "Code"), limits the amount of net operating losses available to the Company to approximately $6,178 per year. The federal gross net operating loss carry-forwards expire in Fiscal 2031. The state gross net operating loss carry-forwards expire at various times through Fiscal 2035 and the foreign gross net operating loss carry-forwards expire at various times through Fiscal 2025, with the exception of $164 for Austria, $580 for Belgium and $9,498 for Brazil, which have no expirations.

46

A valuation allowance is provided when it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company has recorded a valuation allowance of $3,518 for certain state and foreign net operating loss carry-forwards anticipated to produce no tax benefit.

In general, except for certain earnings associated with inter-company loan balances, it is the Company’s intention to reinvest all undistributed earnings of non-U.S. subsidiaries for an indefinite period of time. Therefore, except for the exceptions noted above, no deferred U.S. income taxes have been provided on undistributed earnings of non-U.S. subsidiaries, which aggregate approximately $7,577 based on exchange rates at March 31, 2015.

A reconciliation of the change in the tax liability for unrecognized tax benefits is as follows:

	Fiscal
	2015			2014			2013
Balance at beginning of year	$	4,384		$	5,340		$	5,204
Additions for tax positions related to the current year	62			193			465
Additions for tax positions related to prior years	170			209			213
Reductions for tax positions related to prior years	—			(896		)	(542		)
Settlements	(533		)	(462		)	—
Balance at end of year	$	4,083		$	4,384		$	5,340

Unrecognized tax benefits are classified as either current or non-current under Other liabilities within the Company's Consolidated Balance Sheets. Of the $4,083 noted above, the Company expects that $234 will reverse in the next twelve-months. As of March 31, 2015, 2014 and 2013, the Company recorded $1,065, $1,114 and $1,001, respectively, of interest and penalties related to uncertain tax positions in current liabilities within Income taxes, all of which impacted the Company's effective tax rate.

During Fiscal 2013 the Internal Revenue Service ("IRS") commenced an examination of the Company's United States federal income tax return for Fiscal 2011 and 2012. During Fiscal 2014, the IRS concluded its examination with no proposed adjustments for Fiscal 2011 and Fiscal 2012.

Fiscal 2013 through Fiscal 2015 remains open to examination by the IRS and Fiscal 2010 through Fiscal 2014 remain open to examination by certain state and foreign taxing jurisdictions.

Note 11: Stockholder's Equity

Dividends

The following table presents information about the Company's dividend program:

Period	Record Date	Payment Date	Rate		Aggregate Value
4Q15	March 31, 2015	April 15, 2015	$	0.10	$	1,537
3Q15	December 26, 2014	January 9, 2015	$	0.10	$	1,536
2Q15	September 26, 2014	October 10, 2014	$	0.10	$	1,544
1Q15	June 27, 2014	July 11, 2014	$	0.10	$	1,554
4Q14	March 31, 2014	April 11, 2014	$	0.09	$	1,400
3Q14	December 27, 2013	January 10, 2014	$	0.09	$	1,410
2Q14	September 27, 2013	October 11, 2013	$	0.09	$	1,430
1Q14	June 28, 2013	July 12, 2013	$	0.09	$	1,445
4Q13	March 29, 2013	April 12, 2013	$	0.08	$	1,291
3Q13	December 28, 2012	January 11, 2013	$	0.08	$	1,304
2Q13	September 28, 2012	October 12, 2012	$	0.08	$	1,323
1Q13	June 29, 2012	July 13, 2012	$	0.08	$	1,355

47

While the Company expects to continue to declare quarterly dividends, the payment of future dividends is at the discretion of the Board and the timing and amount of any future dividends will depend upon earnings, cash requirements and the financial condition of the Company. Under the Credit Agreement, the Company is permitted to make any distribution or dividend as long as no Event of Default or Potential Default (as defined in the Credit Agreement) shall have occurred and is continuing or shall occur as a result thereof. In addition, no distribution or dividend is permitted under the Credit Agreement if such event would violate a consolidated leverage ratio required to be maintained under the Credit Agreement other than regular quarterly dividends not exceeding $15,000 per year.

Common Stock Repurchases

The following table presents information about the Company's common stock repurchases:

	Fiscal
	2015		2014
Common stock purchased	361,180		813,180
Aggregate purchase price	$	8,076	$	21,794
Average purchase price	$	22.36	$	26.80

We did not repurchase common stock during the fourth quarter of Fiscal 2015 because our leverage ratio was above 3.0 which restricted purchases of our common stock on the open market. During Fiscal 2015, the Company made tax payments of $1,089 and withheld 47,447 shares of common stock, which were designated as treasury shares, at an average price per share of $22.96, in order to satisfy employee income taxes due as a result of the vesting of certain restricted stock units. During Fiscal 2014, the Company made tax payments of $1,520 and withheld 57,913 shares of common stock, which were designated as treasury shares, at an average price per share of $26.24, in order to satisfy employee income taxes due as a result of the vesting of certain restricted stock units and performance shares.

Since the inception of the repurchase program in April 1999 through March 31, 2015, the Company has repurchased 10,727,227 shares of common stock for an aggregate purchase price of $400,360, or an average purchase price per share of $37.32. These shares do not include the treasury shares withheld for tax payments resulting from the vesting of certain restricted stock units and performance shares. As of March 31, 2015, 772,773 shares were available under repurchase programs. Additional repurchases of common stock may occur from time to time depending upon factors such as the Company’s cash flows and general market conditions. There can be no assurance as to the timing or amount of such repurchases. Under the Credit Agreement, the Company is permitted to repurchase its common stock as long as no Event of Default or Potential Default (as defined in the Credit Agreement) shall have occurred and is continuing or shall occur as a result thereof. In addition, no repurchase of common stock under the repurchase program is permitted under the Credit Agreement if the Company's consolidated leverage ratio (based on EBITDA) exceeds 3.0.

Note 12: Operating Leases

The Company leases offices, facilities, equipment and vehicles throughout the world. While most of the leases are operating leases that expire over the next three years, certain vehicles and equipment are leased under capital leases that also expire over the next three years. As leases expire, it can be expected that, in the normal course of business, certain leases will be renewed or replaced.

Certain lease agreements include renewal options and escalating rents over the lease terms. Generally, the Company expenses rent on a straight-line basis over the life of the lease which commences on the date the Company has the right to control the property. The cumulative expense recognized on a straight-line basis in excess of the cumulative payments is included in Accrued expenses and Other liabilities within the Company’s Consolidated Balance Sheets. Rent expense was $20,166, $18,883 and $19,717 for Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively.

48

The future minimum lease payments under non-cancelable capital and operating leases with initial or remaining terms of one year or more as of March 31, 2015 are as follows:

Fiscal
2016	$	11,320
2017	8,673
2018	6,438
2019	4,432
2020	2,164
Thereafter	3,308
Total minimum lease payments	$	36,335

Note 13: Incentive Compensation Plans

Performance Bonus

The Company has variable compensation plans covering certain team members. These plans provide a bonus contingent on the attainment of certain annual or quarterly performance targets. The Company recorded expense of $6,841, $3,777 and $3,697 under its variable compensation plans for Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively.

Profit Sharing and Savings Plans ("the savings plans")

The Company has multiple profit sharing and savings plans which qualify as deferred salary arrangements under Section 401(k) of the Code. Participants may elect to contribute a portion of their eligible compensation, subject to limits imposed by the savings plans, which are partially matched by the Company. The Company recorded expense of $2,609, $2,452 and $2,504 for these plans during Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively.

Pension Plans

The Company has multiple defined benefit pension plans for which a majority of benefits have been "frozen" (i.e., no new employees will be admitted and those employees currently in the plan will not earn additional benefits based on service) and a multi-employer plan. The Company made contributions of $1,711, $2,973 and $3,406during Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively, to the pension plans. The defined benefit pension plan had assets of $35,671, $34,229 and $29,884, a projected benefit obligation of $52,059, $47,192 and $48,016 and a resulting unfunded liability of $16,388, $12,963 and $18,132 for the periods ended March 31, 2015, 2014 and 2013, respectively. See Note 2 and Note 9 for additional reference.

Stock-based compensation plans

On August 12, 2008 (the "Effective Date"), the Company’s stockholders approved the 2008 Long-Term Incentive Plan (the "Incentive Plan") which is designed to advance the Company’s interests and the interests of the Company’s stockholders by providing incentives to certain employees, directors, consultants, independent contractors and persons to whom an offer of employment has been extended by the Company (hereinafter referred to as "Eligible Persons"). The Incentive Plan replaced the 1992 Stock Option Plan, as amended (the "Employee Plan"), and the 1992 Director Stock Option Plan, as amended (the "Director Plan"), on the Effective Date. Stock option grants under the Employee Plan and the Director Plan, prior to the Effective Date, remain outstanding and will continue to be administered in accordance with the terms of their respective plans and plan agreements.

Awards (as defined below) under the Incentive Plan may include, but need not be limited to, one or more of the following types, either alone or in any combination thereof: (i) stock options, (ii) stock appreciation rights, (iii) restricted stock, (iv) restricted stock units, (v) performance grants, (vi) other share-based awards and (vii) any other type of award deemed by the Compensation Committee (the "Compensation Committee") of the Board or any successor thereto, or such other committee of the Board as is appointed by the Board to administer the Incentive Plan, in its sole discretion, to be consistent with the purposes of the Incentive Plan (hereinafter referred to as "Awards").

The maximum aggregate number of shares of common stock available for issuance under Awards granted under the Incentive Plan, as amended, is 1,900,000 plus the number of shares that were available for the grant of stock options under the Employee Plan and the Director Plan on the Effective Date, plus the number of shares subject to stock options outstanding under the Employee Plan and the Director Plan on the Effective Date that are forfeited or cancelled prior to exercise. The following table details the shares of common stock available for grant under the Incentive Plan as of March 31, 2015.

49

	Shares
Shares authorized under the incentive plan on August 12, 2008	900,000
Shares authorized under the incentive plan on August 6, 2013 1	1,000,000
Number of shares that were available for the grant of stock options under the Employee Plan and the Director Plan on August 12, 2008, the Effective Date	888,087
Number of shares subject to stock options outstanding under the Employee Plan and the Director Plan on August 12, 2008, the Effective Date, that were forfeited or cancelled, prior to exercise, through March 31, 2015	2,335,372
Shares authorized for grant under the Incentive Plan as of March 31, 2015	5,123,459
Shares available for grant under the Incentive Plan as of March 31, 2015 2	1,713,916

¹ On August 6, 2013, the Company's Stockholders approved amendments to the Incentive Plan, including an increase to the number of shares available for grant under the Incentive Plan by 1,000,000.

² The aggregate number of shares available for issuance is reduced by 1.87 shares for each issuance of a full value award (e.g., restricted stock units and performance share awards). The shares available for grant assume a 100% payout on outstanding performance share awards. Actual payout could range from 0% - 150% or 200% depending on performance goal resulting in shares available for grant from 2,227,257 to 1,337,865.

The Company recognized stock-based compensation expense of $6,009, $6,589 and $7,712 during Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively. The Company recognized total income tax benefit for stock-based compensation arrangements of $2,191, $2,404 and $2,814 during Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively. Stock-based compensation expense is recorded in Selling, general & administrative expense within the Company’s Consolidated Statements of Operations.

Stock options

Stock option awards are granted with an exercise price equal to the closing market price of the common stock on the date of grant; such stock options generally become exercisable in equal amounts over a three-year period and have a contractual life of ten-years from the grant date. The fair value of stock options is estimated on the grant date using the Black-Scholes option pricing model which includes the following weighted-average assumptions.

	Fiscal
	2015		2014		2013
Expected life (in years)	7.7		6.8		7.0
Risk free interest rate	2.3	%	1.3	%	0.8	%
Annual forfeiture rate	1.5	%	2.5	%	2.0	%
Expected Volatility	45.1	%	42.3	%	44.6	%
Dividend yield	1.3	%	1.3	%	1.0	%

The following table summarizes the Company’s stock option activity:

	Shares (in 000’s)		Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Life (Years)	Intrinsic Value (000’s)
Outstanding at March 31, 2014	2,018		$	32.89
Granted	165		21.79
Exercised	—		—
Forfeited or cancelled	(339	)	34.24
Outstanding at March 31, 2015	1,844		$	31.65	3.5	$	—
Exercisable at March 31, 2015	1,554		$	33.20	2.6	$	—

The weighted-average grant-date fair value of options granted during Fiscal 2015, Fiscal 2014 and Fiscal 2013 was $9.59, $10.06 and $9.02, respectively. The intrinsic value of options exercised during Fiscal 2015, Fiscal 2014 and Fiscal 2013 was $0, $25 and $0, respectively. The aggregate intrinsic value in the preceding table is based on the closing stock price of the common stock on March 31, 2015 of $20.93.

50

The following table summarizes certain information regarding the Company’s non-vested stock options:

	Shares (in 000’s)		Weighted-Average Grant-Date Fair Value
March 31, 2014	258		$	10.07
Granted	165		9.59
Vested	(118	)	10.38
Forfeited	(15	)	9.77
March 31, 2015	290		$	9.68

As of March 31, 2015, there was $1,587 of total unrecognized pre-tax stock-based compensation expense related to non-vested stock options which is expected to be recognized over a weighted-average period of 1.8 years.

Restricted stock units

Restricted stock unit awards are subject to a service condition and typically vest in equal amounts over a three-year period from the grant date. The fair value of restricted stock units is determined based on the number of restricted stock units granted and the closing market price of the common stock on the date of grant.

The following table summarizes the Company’s restricted stock unit activity:

	Shares (in 000’s)		Weighted-Average Grant-Date Fair Value
March 31, 2014	289		$	25.73
Granted	181		21.79
Vested	(168	)	25.59
Forfeited	(40	)	24.05
March 31, 2015	262		$	23.34

The total fair value of shares that vested during Fiscal 2015, Fiscal 2014 and Fiscal 2013 was $3,842, $4,772 and $3,674, respectively.

As of March 31, 2015, there was $2,881 of total unrecognized pre-tax stock-based compensation expense related to non-vested restricted stock units which is expected to be recognized over a weighted-average period of 1.7 years.

Performance share awards

Performance share awards are subject to one of the performance goals - the Company’s Relative TSR Ranking or cumulative Adjusted EBITDA - over a three-year period. The Company’s Relative TSR Ranking metric is based on the three-year cumulative return to shareholders from the change in stock price and dividends paid between the starting and ending dates. The fair value of performance share awards (subject to cumulative Adjusted EBITDA) is determined based on the number of performance shares granted and the closing market price of the common stock on the date of grant. The fair value of performance share awards (subject to the Company’s Relative TSR Ranking) is estimated on the grant date using the Monte-Carlo simulation valuation method which includes the following weighted-average assumptions.

	Fiscal
	2015		2014		2013
Risk free interest rate	0.8	%	0.4	%	0.4	%
Expected Volatility	44.7	%	41.1	%	41.3	%
Dividend yield	1.3	%	1.3	%	1.0	%

51

The following table summarizes the Company’s performance share award activity:

	Shares (in 000’s)		Weighted- Average Grant- Date Fair Value
March 31, 2014	255		$	28.66
Granted	115		23.05
Vested	—		—
Forfeited	(95	)	33.25
March 31, 2015	275		$	24.69

The total fair value of shares that vested during Fiscal 2015, Fiscal 2014 and Fiscal 2013 was $0, $570 and $0, respectively.

As of March 31, 2015, there was $1,257 of total unrecognized pre-tax stock-based compensation expense related to non-vested performance share awards which is expected to be recognized over a weighted-average period of 1.8 years.

Note 14: Earnings (loss) Per Share

The following table details the computation of basic and diluted earnings (loss) per common share from continuing operations for the periods presented (share numbers in thousands):

	Fiscal
	2015		2014			2013
Net income (loss)	$	15,342	$	(115,873	)	$	28,806
Weighted-average common shares outstanding (basic)	15,407		15,813			16,627
Effect of dilutive securities from equity awards	76		—			62
Weighted-average common shares outstanding (diluted)	15,483		15,813			16,689
Basic earnings (loss) per common share	$	1.00	$	(7.33	)	$	1.73
Dilutive earnings (loss) per common share	$	0.99	$	(7.33	)	$	1.73

The Weighted-average common shares outstanding (diluted) computation is not impacted during any period where the exercise price of a stock option is greater than the average market price. There were 1,851,059, 2,017,805 and 2,648,137 non-dilutive equity awards outstanding during Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively, that are not included in the corresponding period Weighted-average common shares outstanding (diluted) computation.

Note 15: Segment Reporting

The Company conducts business globally and is managed on a geographic-service type basis consisting of four operating segments which are (i) North America Products, (ii) North America Services, (iii) International Products and (iv) International Services. These operating segments are also the Company's reporting units for purposes of testing goodwill for impairment and its reporting segments for financial reporting purposes. Revenues within our North America segments are primarily attributed to the United States while revenues within our International segments are attributed to countries in Europe, the Pacific Rim and Latin America. For the past several years and through Fiscal 2013, the Company was organized on a geographic-basis with the following three segments: (i) North America, (ii) Europe and (iii) All Other. As a result of this segment change, which became effective on April 1, 2013 on a prospective basis, the Company has restated prior periods to conform to the current year's presentation.

The accounting policies of the operating segments are the same as those of the Company. The Company allocates resources to its operating segments and evaluates the performance of the operating segments based upon operating income.

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The financial results for the Company's reporting segments are as follows:

	North America Products			North America Services			International Products			International Services			Total
FY15
Revenues	$	85,205		$	785,681		$	91,614		$	29,944		$	992,444
Gross profit	36,082			220,469			37,662			8,056			302,269
Operating income (loss) 1 2	4,564			22,195			(277		)	2,092			28,574
Depreciation expense	2,186			3,958			668			166			6,978
Intangibles amortization	—			10,546			—			3			10,549
Capital expenditures	1,929			5,716			799			71			8,515
Assets (as of March 31)	101,299			513,941			48,156			22,863			686,259
FY14
Revenues	82,833			753,525			99,320			35,996			971,674
Gross profit	34,624			219,337			42,052			7,569			303,582
Operating income (loss) 2 3	(37,785		)	(50,740		)	(14,847		)	(5,020		)	(108,392		)
Depreciation expense	1,910			3,501			598			178			6,187
Intangibles amortization	—			12,006			—			18			12,024
Capital expenditures	2,899			3,820			443			176			7,338
Assets (as of March 31)	92,704			532,756			52,432			34,137			712,029
FY13
Revenues	87,089			775,868			99,194			35,635			997,786
Gross profit	38,367			228,503			44,040			9,020			319,930
Operating income (loss) 4	8,995			38,418			6,954			1,902			56,269
Depreciation expense	1,237			3,466			526			157			5,386
Intangibles amortization	—			13,713			—			24			13,737
Capital expenditures	2,824			2,310			1,017			172			6,323
Assets (as of March 31)	131,762			646,119			70,238			29,882			878,001

¹ Includes restructuring expense of $6,854 ($215 for North America Products, $3,898 for North America Services, $2,260 for International Products and $481 for International Services) recorded during Fiscal 2015.

² These results reflect a reclassification of expense that reduced Operating income (loss) in North America Products by $1,218 and $1,686 in Fiscal 2015 and Fiscal 2014, respectively, with a corresponding increase of the same amounts for Operating income (loss) in North America Services. This reclassification had no effect on our consolidated financial results.

³Includes restructuring expense of $3,440 ($308 for North America Products, $1,958 for North America Services, $594 for International Products and $580 for International Services) and goodwill impairment loss of $154,429 ($42,613 for North America Products, $86,904 for North America Services, $20,159 for International Products and $4,753 for International Services) recorded during Fiscal 2014.

⁴ Includes restructuring expense of $8,445 ($688 for North America Products, $5,578 for North America Services, $1,879 for International Products and $300 for International Services) recorded during Fiscal 2013.

The Company generated revenues of $127,826, $161,154 and $159,438 with the United States Federal Government during Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively, all of which is included within the Company's North America Services reportable segment.

53

Note 16: Quarterly Data (Unaudited)

The following tables represent summary Quarterly (Unaudited) Consolidated Statements of Operations for Fiscal 2015 and Fiscal 2014. Earnings (loss) per common share may not compute due to the use of different quarterly/annual basic and diluted shares.

	Fiscal 2015
Unaudited	1Q			2Q		3Q		4Q			FY
Revenues
Total Products	$	43,219		$	44,549	$	46,616	$	42,435		$	176,819
Total Services	202,007			204,324		206,678		202,616			815,625
Total	245,226			248,873		253,294		245,051			992,444
Cost of sales
Total Products	25,271			25,943		27,930		23,931			103,075
Total Services	144,726			149,221		148,569		144,584			587,100
Total	169,997			175,164		176,499		168,515			690,175
Gross profit	75,229			73,709		76,795		76,536			302,269
Selling, general & administrative expenses 1	64,015			64,016		65,145		69,970			263,146
Intangibles amortization	2,650			2,643		2,647		2,609			10,549
Operating income (loss)	8,564			7,050		9,003		3,957			28,574
Interest expense, net	1,131			1,027		1,170		1,088			4,416
Other expenses (income), net	(41		)	180		112		319			570
Income (loss) before provision for income taxes	7,474			5,843		7,721		2,550			23,588
Provision (benefit) for income taxes	3,531			2,640		2,447		(372		)	8,246
Net income (loss)	$	3,943		$	3,203	$	5,274	$	2,922		$	15,342
Earnings (loss) per common share
Basic	$	0.25		$	0.21	$	0.34	$	0.19		$	1.00
Diluted	$	0.25		$	0.21	$	0.34	$	0.19		$	0.99

¹ Includes restructuring expense of $616, $1,132, $967 and $4,139 for 1Q15, 2Q15, 3Q15 and 4Q15, respectively.

54

	Fiscal 2014
Unaudited	1Q		2Q		3Q		4Q			FY
Revenues
Total Products	$	48,208	$	43,191	$	44,528	$	46,226		$	182,153
Total Services	198,689		203,619		195,161		192,052			789,521
Total	246,897		246,810		239,689		238,278			971,674
Cost of sales
Total Products	28,495		24,249		25,754		26,979			105,477
Total Services	141,371		145,433		140,151		135,660			562,615
Total	169,866		169,682		165,905		162,639			668,092
Gross profit	77,031		77,128		73,784		75,639			303,582
Selling, general & administrative expenses 1	61,270		60,490		60,366		63,395			245,521
Goodwill impairment loss	—		—		—		154,429			154,429
Intangibles amortization	3,309		3,109		2,923		2,683			12,024
Operating income (loss)	12,452		13,529		10,495		(144,868		)	(108,392		)
Interest expense, net	923		1,378		1,230		1,116			4,647
Other expenses (income), net 2	116		910		84		87			1,197
Income (loss) before provision for income taxes	11,413		11,241		9,181		(146,071		)	(114,236		)
Provision (benefit) for income taxes	4,508		5,656		2,523		(11,050		)	1,637
Net income (loss)	$	6,905	$	5,585	$	6,658	$	(135,021	)	$	(115,873	)
Earnings (loss) per common share
Basic	$	0.43	$	0.35	$	0.42	$	(8.65	)	$	(7.33	)
Diluted	$	0.43	$	0.35	$	0.42	$	(8.65	)	$	(7.33	)

¹ Includes restructuring expense of $139, $734, $833 and $1,734 for 1Q14, 2Q14, 3Q14 and 4Q14, respectively.

² Includes a loss of $822 during the second quarter of Fiscal 2014 due to the probable divestiture of our non-controlling interest in GNIS, a joint venture company which was formed in conjunction with Genesis Networks Enterprises, LLC.

Note 17: Commitments and Contingencies

The Company is involved in, or has pending, various legal proceedings, claims, suits and complaints arising out of the normal course of business. Based on the facts currently available to the Company, Management believes these matters are adequately provided for, covered by insurance, without merit or not probable that an unfavorable material outcome will result.

Product Warranties

Estimated future warranty costs related to certain products are charged to expense during the period the related revenue is recognized. The product warranty liability reflects the Company’s best estimate of probable obligations under those warranties. As of March 31, 2015 and 2014, the Company has recorded a warranty reserve of $1,214 and $1,520, respectively.

There has been no other significant or unusual activity during Fiscal 2015.

Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.

None.

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Item 9A.Controls and Procedures.

Conclusions Regarding the Effectiveness of Disclosure Controls and Procedures

Management, including the Company’s Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO"), is responsible for establishing and maintaining adequate disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")) for the Company. Management assessed the effectiveness of the Company’s disclosure controls and procedures as of March 31, 2015. Based upon this assessment, Management has concluded that the Company’s disclosure controls and procedures were effective as of March 31, 2015 to provide reasonable assurance that information required to be disclosed by the Company in the reports filed or submitted by it under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms, and to provide reasonable assurance that information required to be disclosed by the Company in such reports is accumulated and communicated to Management, including its principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

Management’s Report on Internal Control Over Financial Reporting

Management, including the Company’s CEO and CFO, is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) and 15d-15(f) under the Exchange Act) for the Company. Management assessed the effectiveness of the Company’s internal control over financial reporting as of March 31, 2015 based on the framework described in “Internal Control – Integrated Framework (2013),” issued by the Committee of Sponsoring Organizations ("COSO") of the Treadway Commission. Based on this assessment, Management has concluded that the Company’s internal control over financial reporting was effective, as of March 31, 2015, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external reporting purposes in accordance with U.S. generally accepted accounting principles. Management of the Company reviewed the results of its assessment with the Audit Committee of the Board.

BDO USA, LLP, the Company’s independent registered public accounting firm, has issued an attestation report on the Company’s internal control over financial reporting, which is included in this Annual Report.

Changes in Internal Control Over Financial Reporting

There have not been any changes in the Company’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) during the most recent fiscal quarter that have materially affected or are reasonably likely to materially affect the Company’s internal control over financial reporting.

Limitations on the Effectiveness of Controls

All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Because of its inherent limitations, the Company’s internal control over financial reporting may not prevent or detect misstatements. In addition, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies and procedures may deteriorate.

Item 9B. Other Information.

None.

PART III

Item 10.Directors, Executive Officers and Corporate Governance.

Certain of the information required by this item is incorporated herein by reference to the information set forth under Part I of this Annual Report under the captions "Executive Officers of the Registrant" and "Directors of the Registrant." The other information required by this item is incorporated herein by reference to the information set forth under the captions "Policies and Procedures Related to the Approval of Transactions with Related Persons,"Annual Meeting Matters - Proposal 1 - Election of Directors" and "Board of Directors and Board Committees" in the Proxy Statement to be filed pursuant to Regulation 14A of the Exchange Act.

Item 11.Executive Compensation.

The information required by this item is incorporated herein by reference to the information under the captions "Compensation of Directors" and "Executive Compensation and Other Information" in the Proxy Statement.

56

Item 12.Security Ownership of Certain Beneficial Owners And Management And Related Stockholder Matters.

The information required by this item is incorporated herein by reference to the information set forth under the captions "Equity Plan Compensation Information," "Security Ownership of Certain Beneficial Owners" and "Security Ownership of Management" in the Proxy Statement.

Item 13.Certain Relationships and Related Transactions, and Director Independence.

The information required by this item is incorporated herein by reference to the information set forth under the captions "Annual Meeting Matters - Proposal 1 - Election of Directors," "Board of Directors and Board Committees," "Policies and Procedures Related to the Approval of Transactions with Related Persons" and "Executive Compensation and Other Information" in the Proxy Statement.

Item 14.Principal Accounting Fees and Services.

The information required by this item is incorporated herein by reference to the information set forth under the caption "Independent Public Accountants" in the Proxy Statement.

PART IV

Item 15. Exhibits and Financial Statement Schedules.

Financial statements, financial statement schedules and exhibits not listed below have been omitted where the required information is included in the consolidated financial statements or notes thereto, or is not applicable or required. Documents filed as part of this report include:

(a)(1)	Financial Statements - no financial statements have been filed in this Form 10-K other than those in Item 8
(a)(2)	Financial Statement Schedule (Schedule II - Valuation and Qualifying Accounts)

SCHEDULE II

BLACK BOX CORPORATION

Valuation and Qualifying Accounts

(Dollars in thousands)

Description	Balance at Beginning of Period		Additions Charged to Expense		Additions from Acquisitions		Reductions from Reserves			Other			Balance at End of Period
March 31, 2015
Excess and obsolete inventory reserves	$	17,386	$	2,260	$	—	$	(3,022	)	$	—		$	16,624
Allowance for doubtful accounts	5,949		1,638		—		(2,478		)	—			5,109
March 31, 2014
Excess and obsolete inventory reserves	$	18,040	$	2,522	$	—	$	(3,176	)	$	—		$	17,386
Allowance for doubtful accounts	6,300		4,324		—		(4,674		)	(1		)	5,949
March 31, 2013
Excess and obsolete inventory reserves	$	18,900	$	3,586	$	—	$	(4,392	)	$	(54	)	$	18,040
Allowance for doubtful accounts	6,273		3,556		—		(3,531		)	2			6,300

57

(a)(3)    Exhibits

EXHIBITS

Exhibit Number	Description
3(i)	Second Restated Certificate of Incorporation of the Company, as amended (1)
3(ii)	Amended and Restated By-laws of the Company, as amended (2)
10.1	Credit Agreement dated as of March 23, 2012 by and among Black Box Corporation, the Guarantors, the Lenders parties thereto and Citizens Bank of Pennsylvania, as Administrative Agent (the “Credit Agreement”) (3)
10.2	Guaranty and Suretyship Agreement dated as of March 23, 2012 (3)
10.3	Amended and Restated Agreement between the Company and Michael McAndrew (4)
10.4	Description of Fiscal 2015 Annual Incentive Plan (5)
10.5	1992 Stock Option Plan, as amended through August 9, 2007 (6)
10.6	1992 Director Stock Option Plan, as amended through August 9, 2007 (6)
10.7	Form of Black Box Corporation Non-Qualified Stock Option Agreement (pursuant to the 1992 Director Stock Option Plan; form of agreement in effect prior to August 10, 2004) (7)
10.8	Form of Black Box Corporation Non-Qualified Stock Option Agreement (pursuant to the 1992 Director Stock Option Plan; form of agreement in effect as of August 10, 2004) (7)
10.9	Form of Black Box Corporation Non-Qualified Stock Option Agreement (pursuant to the 1992 Director Stock Option Plan; form of agreement in effect as of October 31, 2005) (8)
10.10	Form of Black Box Corporation Non-Qualified Stock Option Agreement (pursuant to the 1992 Stock Option Plan)(7)
10.11	Form of Black Box Corporation Non-Qualified Stock Option Agreement (pursuant to the 1992 Stock Option Plan; form of agreement in effect as of October 31, 2005) (8)
10.12	2008 Long-Term Incentive Plan, as amended (9)
10.13	Form of Black Box Corporation Non-Qualified Stock Option Agreement (pursuant to the 2008 Long-Term Incentive Plan) (10)
10.14	Form of Black Box Corporation Restricted Stock Unit Agreement (pursuant to the 2008 Long-Term Incentive Plan) (10)
10.15	Form of Black Box Corporation Restricted Stock Unit Agreement for Non-Employee Directors (pursuant to the 2008 Long-Term Incentive Plan) (10)
10.16	Form of Black Box Corporation Performance Share Award Agreement (pursuant to the 2008 Long-Term Incentive Plan) (10)
10.17	Summary of Director Compensation (5)
10.18	Description of Fiscal 2014 Annual Incentive Plan (5)
10.19	Agreement between the Company and Kenneth P. Davis (11)
10.20	Description of Fiscal 2012 Annual Incentive Plan (12)
10.21	Form of Black Box Corporation Performance Share Award Agreement (pursuant to the 2008 Long-Term Incentive Plan; form of agreement in effect as of May 17, 2011) (12)
10.22	Description of Fiscal 2013 Annual Incentive Plan (13)
10.23	Agreement between the Company and Timothy C. Huffmyer (14)
10.24	Agreement between the Company and Ronald Basso (15)
10.25	Agreement between the Company and Michael McAndrew (16)
10.26	Letter Agreement with Kenneth P. Davis (5)
21.1	Subsidiaries of the Registrant (5)
23.1	Consent of Independent Registered Accounting Firm (5)
31.1	Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities and Exchange Act of 1934, as amended, and Section 302 of the Sarbanes-Oxley Act of 2002 (5)
31.2	Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities and Exchange Act of 1934, as amended, and Section 302 of the Sarbanes-Oxley Act of 2002 (5)

58

32.1	Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14(b) of the Securities and Exchange Act of 1934, as amended, and 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (5)
101	Interactive Data File
(1)	Filed as Exhibit 3(i) to the Annual Report on Form 10-K of the Company, file number 0-18706, filed with the SEC on May 16, 2014, and incorporated herein by reference herewith.
(2)	Filed as Exhibit 3(ii) to the Current Report on Form 8-K of the Company, file number 0-18706, filed with the SEC on May 17, 2010, and incorporated herein by reference.
(3)	Filed as an exhibit to the Current Report on Form 8-K of the Company, file number 0-18706, filed with the SEC on March 26, 2012, and incorporated herein by reference.
(4)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on February 5, 2009, and incorporated herein by reference.
(5)	Filed herewith.
(6)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on August 16, 2007, and incorporated herein by reference.
(7)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on November 12, 2004, and incorporated herein by reference.
(8)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on November 10, 2005, and incorporated herein by reference.
(9)	Filed as Exhibit I to the Proxy Statement for the 2013 Annual Meeting of Stockholders filed on Schedule 14A, file number 0-18706, filed with the SEC on June 21, 2013.
(10)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on August 6, 2009, and incorporated herein by reference.
(11)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on February 10, 2011, and incorporated herein by reference.
(12)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on August 10, 2011, and incorporated herein by reference.
(13)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on August 8, 2012, and incorporated herein by reference.
(14)	Filed as an exhibit to the Current Report on Form 8-K of the Company, file number 0-18706, filed with the SEC on October 9, 2012, and incorporated herein by reference.
(15)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on August 7, 2013, and incorporated herein by reference.
(16)	Filed as an exhibit to the Current Report on Form 8-K of the Company, file number 0-18706, filed with the SEC on April 2, 2013, and incorporated herein by reference.

59

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

BLACK BOX CORPORATION

Date: May 15, 2015

/s/ TIMOTHY C. HUFFMYER                                 

Timothy C. Huffmyer

Vice President, Chief Financial Officer and

Treasurer (Principal Accounting Officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Signatures	Capacity	Date
/s/ RICHARD L. CROUCH	Director	May 15, 2015
Richard L. Crouch
/s/ RICHARD C. ELIAS	Director	May 15, 2015
Richard C. Elias
/s/ THOMAS W. GOLONSKI	Director	May 15, 2015
Thomas W. Golonski
/s/ THOMAS G. GREIG	Director and Chairman of the Board	May 15, 2015
Thomas G. Greig
/s/ JOHN S. HELLER	Director	May 15, 2015
John S. Heller
/s/ WILLIAM H. HERNANDEZ	Director	May 15, 2015
William H. Hernandez
/s/ TIMOTHY C. HUFFMYER	Vice President, Chief Financial Officer and Treasurer (Principal Accounting Officer)	May 15, 2015
Timothy C. Huffmyer
/s/ MICHAEL MCANDREW	Director, President and Chief Executive Officer	May 15, 2015
Michael McAndrew
/s/ JOEL T. TRAMMELL	Director	May 15, 2015
Joel T. Trammell

EXHIBIT INDEX

Exhibit Number	Description
3(i)	Second Restated Certificate of Incorporation of the Company, as amended (1)
3(ii)	Amended and Restated By-laws of the Company, as amended (2)

60

10.1	Credit Agreement dated as of March 23, 2012 by and among Black Box Corporation, the Guarantors, the Lenders parties thereto and Citizens Bank of Pennsylvania, as Administrative Agent (the “Credit Agreement”) (3)
10.2	Guaranty and Suretyship Agreement dated as of March 23, 2012 (3)
10.3	Amended and Restated Agreement between the Company and Michael McAndrew (4)
10.4	Description of Fiscal 2015 Annual Incentive Plan (5)
10.5	1992 Stock Option Plan, as amended through August 9, 2007 (6)
10.6	1992 Director Stock Option Plan, as amended through August 9, 2007 (6)
10.7	Form of Black Box Corporation Non-Qualified Stock Option Agreement (pursuant to the 1992 Director Stock Option Plan; form of agreement in effect prior to August 10, 2004) (7)
10.8	Form of Black Box Corporation Non-Qualified Stock Option Agreement (pursuant to the 1992 Director Stock Option Plan; form of agreement in effect as of August 10, 2004) (7)
10.9	Form of Black Box Corporation Non-Qualified Stock Option Agreement (pursuant to the 1992 Director Stock Option Plan; form of agreement in effect as of October 31, 2005) (8)
10.10	Form of Black Box Corporation Non-Qualified Stock Option Agreement (pursuant to the 1992 Stock Option Plan)(7)
10.11	Form of Black Box Corporation Non-Qualified Stock Option Agreement (pursuant to the 1992 Stock Option Plan; form of agreement in effect as of October 31, 2005) (8)
10.12	2008 Long-Term Incentive Plan, as amended (9)
10.13	Form of Black Box Corporation Non-Qualified Stock Option Agreement (pursuant to the 2008 Long-Term Incentive Plan) (10)
10.14	Form of Black Box Corporation Restricted Stock Unit Agreement (pursuant to the 2008 Long-Term Incentive Plan) (10)
10.15	Form of Black Box Corporation Restricted Stock Unit Agreement for Non-Employee Directors (pursuant to the 2008 Long-Term Incentive Plan) (10)
10.16	Form of Black Box Corporation Performance Share Award Agreement (pursuant to the 2008 Long-Term Incentive Plan) (10)
10.17	Summary of Director Compensation (5)
10.18	Description of Fiscal 2014 Annual Incentive Plan (5)
10.19	Agreement between the Company and Kenneth P. Davis (11)
10.20	Description of Fiscal 2012 Annual Incentive Plan (12)
10.21	Form of Black Box Corporation Performance Share Award Agreement (pursuant to the 2008 Long-Term Incentive Plan; form of agreement in effect as of May 17, 2011) (12)
10.22	Description of Fiscal 2013 Annual Incentive Plan (13)
10.23	Agreement between the Company and Timothy C. Huffmyer (14)
10.24	Agreement between the Company and Ronald Basso (15)
10.25	Agreement between the Company and Michael McAndrew (16)
10.26	Letter Agreement with Kenneth P. Davis (5)
21.1	Subsidiaries of the Registrant (5)
23.1	Consent of Independent Registered Accounting Firm (5)
31.1	Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities and Exchange Act of 1934, as amended, and Section 302 of the Sarbanes-Oxley Act of 2002 (5)
31.2	Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities and Exchange Act of 1934, as amended, and Section 302 of the Sarbanes-Oxley Act of 2002 (5)
32.1	Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14(b) of the Securities and Exchange Act of 1934, as amended, and 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (5)
101	Interactive Data File
(1)	Filed as Exhibit 3(i) to the Annual Report on Form 10-K of the Company, file number 0-18706, filed with the SEC on May 16, 2014, and incorporated herein by reference herewith.
(2)	Filed as Exhibit 3(ii) to the Current Report on Form 8-K of the Company, file number 0-18706, filed with the SEC on May 17, 2010, and incorporated herein by reference.

61

(3)	Filed as an exhibit to the Current Report on Form 8-K of the Company, file number 0-18706, filed with the SEC on March 26, 2012, and incorporated herein by reference.
(4)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on February 5, 2009, and incorporated herein by reference.
(5)	Filed herewith.
(6)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on August 16, 2007, and incorporated herein by reference.
(7)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on November 12, 2004, and incorporated herein by reference.
(8)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on November 10, 2005, and incorporated herein by reference.
(9)	Filed as Exhibit I to the Proxy Statement for the 2013 Annual Meeting of Stockholders filed on Schedule 14A, file number 0-18706, filed with the SEC on June 21, 2013.
(10)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on August 6, 2009, and incorporated herein by reference.
(11)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on February 10, 2011, and incorporated herein by reference.
(12)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on August 10, 2011, and incorporated herein by reference.
(13)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on August 8, 2012, and incorporated herein by reference.
(14)	Filed as an exhibit to the Current Report on Form 8-K of the Company, file number 0-18706, filed with the SEC on October 9, 2012, and incorporated herein by reference.
(15)	Filed as an exhibit to the Quarterly Report on Form 10-Q of the Company, file number 0-18706, filed with the SEC on August 7, 2013, and incorporated herein by reference.
(16)	Filed as an exhibit to the Current Report on Form 8-K of the Company, file number 0-18706, filed with the SEC on April 2, 2013, and incorporated herein by reference.

62

EX-10.4

Exhibit 10.4

Description of Fiscal 2015 Annual Incentive Plan

On May 15, 2014, following the recommendation of the Compensation Committee (the "Compensation Committee") of the Board of Directors (the "Board") of Black Box Corporation (the "Company"), the Board approved an annual incentive bonus plan (the "FY15 Annual Incentive Plan") under the Black Box Corporation 2008 Long-Term Incentive Plan (the "2008 Plan") for the fiscal year ending March 31, 2015 ("Fiscal 2015"). The performance goals for the FY15 Annual Incentive Plan are, as defined below, "operating earnings per share," "adjusted operating margin percent," "organic revenue growth" and "free cash flow." These last two metrics replaced "adjusted EBITDA" and "DSOs" which had been used as performance metrics in previous annual incentive plans.

"Operating earnings per share" means "operating net income" divided by weighted average common shares outstanding (diluted) with "operating net income" meaning net income plus "Reconciling Items" (as defined below); "adjusted operating margin percent" means operating income plus Reconciling Items (as applicable to this metric) divided by total revenues; "organic revenue growth" means total revenues excluding the impact of currency changes and the impact of acquisitions or dispositions; and "free cash flow" means cash from operations less net capital expenditures and excludes the impact of currency changes. "Reconciling Items" means: (i) intangibles amortization; (ii) asset write-up expense on acquisitions; (iii) expenses, settlements, judgments and fines associated with material litigation ($500,000 or greater per matter); (iv) changes in fair value of any interest-rate swaps; (v) the impact of any goodwill impairment; (vi) the effect of changes in tax laws or accounting principles affecting reported results; and (vii) restructuring expense in excess of $3 million in any fiscal year.

The performance goals for the FY15 Annual Incentive Plan will be equally weighted. Under the FY15 Annual Incentive Plan, the achievement of the performance goals at 85% of target (50% of target for the organic revenue growth performance goal) will result in a payout of 50% of targeted annual bonus; the achievement of the performance goals at 100% of target will result in a payout of 100% of targeted annual bonus; and the achievement of the performance goals at 115% of target (150% of target for the organic revenue growth performance goal) will result in a payout of 150% of targeted annual bonus. The achievement of the performance goals at target levels between the levels of target performance stated above will result in payouts of targeted annual bonus amounts calculated on a straight-line basis. The Compensation Committee retained negative discretion to decrease the amount of any award earned under the FY15 Annual Incentive Plan.

The Compensation Committee made, and the Board approved, targeted annual bonus awards under the FY15 Annual Incentive Plan to the Company's executive officers as follows: Michael McAndrew, President and CEO - 100% of base salary or $550,000; Kenneth P. Davis, Executive Vice President - 100% of base salary or $400,000; Timothy C. Huffmyer, Vice President, Chief Financial Officer and Treasurer - 70% of base salary or $231,000; and Ronald Basso, Executive Vice President - 80% of base salary or $280,000. Key, nonexecutive officer employees are also participating in the FY15 Annual Incentive Plan generally on the same terms as the executive officers.

The Company, in the future, may adopt an annual incentive plan similar to the FY15 Annual Incentive Plan with the performance goals set forth in the FY15 Annual Incentive Plan or with other performance goals as permitted under the 2008 Plan.

EX-10.17

Exhibit 10.17

Description of Director Compensation

The Board of Directors (the "Board") of Black Box Corporation (the "Company"), upon the recommendation of the Nominating & Governance Committee of the Board (the "Governance Committee") on the advice of its compensation consultants as to prevailing Board practices, eliminated the meeting fees paid to directors and increased the annual retainer to $70,000 per year, payable quarterly.

The Chairpersons of each of the Audit Committee of the Board, Compensation Committee of the Board and Governance Committee will receive an annual retainer of $15,000, payable quarterly. The non-executive Chairperson of the Board will continue to receive an annual retainer of $75,000, payable quarterly.

Each of the foregoing actions was effective as of April 1, 2014.

In addition, on May 15, 2014, each non-employee director received an immediately-vested restricted stock unit award with a value of approximately $100,000 on such date (which was the same amount for the previous four (4) fiscal years). Based on the closing price of the Common Stock on the date of grant (and rounding to the nearest ten shares), this grant resulted in a restricted stock unit award to each non-employee director for 4,590 shares of the Common Stock which vested immediately upon grant.

The Company maintains directors' and officers' liability insurance. Directors also are reimbursed customary expenses for attending meetings of the board of directors, board committees and stockholders.

EX-10.18

Exhibit 10.18

Description of Fiscal 2014 Annual Incentive Plan

On May 14, 2013, following the recommendation of the Compensation Committee (the "Compensation Committee") of the Board of Directors (the "Board") of Black Box Corporation (the "Company"), the Board approved an annual incentive bonus plan (the "FY14 Annual Incentive Plan") under the Black Box Corporation 2008 Long-Term Incentive Plan (the "2008 Plan") for the fiscal year ending March 31, 2014 ("Fiscal 2014"). The performance goals for the FY14 Annual Incentive Plan were, as defined below, "operating earnings per share," "adjusted operating margin percent," "adjusted EBITDA" and "DSOs." "Operating earnings per share" meant "operating net income" divided by weighted average common shares outstanding (diluted) with "operating net income" meaning net income plus "Reconciling Items" (as defined below); "adjusted operating margin percent" meant operating income plus Reconciling Items divided by total revenues; "adjusted EBITDA" means EBITDA (defined as net income plus provision for income taxes, interest, depreciation and amortization) plus Reconciling Items; and "DSOs" is an internal management calculation based on the balances in net accounts receivable, costs in excess of billings and billings in excess of costs at the end of the measurement period. "Reconciling Items" meant: (i) amortization of intangible assets on acquisitions; (ii) asset write-up expense on acquisitions; (iii) expenses, settlements, judgments and fines associated with material litigation ($500,000 or greater per matter); (iv) changes in fair value of any interest-rate swaps; (v) the impact of any goodwill impairment; (vi) the effect of changes in tax laws or accounting principles affecting reported results; and (vii) restructuring expense in excess of $3 million in any fiscal year.

The performance goals for the FY14 Annual Incentive Plan were equally weighted. Under the FY14 Annual Incentive Plan, the achievement of the performance goals at 85% of target (90% of target for the DSOs performance goal) would have resulted in a payout of 50% of targeted annual bonus, the achievement of the performance goals at 100% of target would have resulted in a payout of 100% of targeted annual bonus and the achievement of the performance goals at 115% of target (110% of target for the DSOs performance goal) would have resulted in a payout of 150% of targeted annual bonus. The achievement of the performance goals at target levels between the levels of target performance stated above would have resulted in payouts of targeted annual bonus amounts calculated on a straight-line basis. The Compensation Committee retained negative discretion to decrease the amount of any award earned under the FY14 Annual Incentive Plan.

Subject to Board review and approval, the Compensation Committee made targeted annual bonus awards under the FY14 Annual Incentive Plan to the Company's executive officers as follows: Michael McAndrew, President and CEO - 100% of base salary or $550,000; Kenneth P. Davis, Executive Vice President - 100% of base salary or $400,000; Timothy C. Huffmyer, Vice President, Chief Financial Officer and Treasurer - 70% of base salary or $210,000; and Ronald Basso, Executive Vice President - 80% of base salary or $280,000. Key, non-executive officer employees also participated in the FY14 Annual Incentive Plan generally on the same terms as the executive officers.

The Company, in the future, may adopt an annual incentive plan similar to the FY14 Annual Incentive Plan with the performance goals set forth in the FY14 Annual Incentive Plan or with other performance goals as permitted under the 2008 Plan.

EX-10.26

Exhibit 10.26

March 12, 2015

Via Email

Mr. Kenneth P. Davis

Dear Ken:

As per our conversations, I am writing to inform you that your employment with Black Box Corporation of Pennsylvania d/b/a Black Box Network Services and any other direct or indirect subsidiaries of Black Box Corporation (collectively, the "Company") will be terminated effective as of the close of business on August 1, 2015 ("Termination Date"). You should not perform any other work without an express request from me to do so; however, you must remain available between now and the Termination Date (the "Interim Period") to provide transition assistance and to perform any other work requested by me.

Assuming that you comply in all material respects with the terms for the Interim Period as outlined in this letter, including continued performance of any requested duties and compliance with your obligations as an employee during the Interim Period, and your execution, delivery and non-revocation of the Agreement and General Release (the "Release") attached hereto on or within twenty-one (21) days following the Termination Date (do not execute or deliver the Release prior to the Termination Date), we will provide you with a lump sum severance payment of four hundred thousand dollars ($400,000), less applicable withholding, within thirty (30) days after the Release becomes binding and non-revocable by you.

During the Interim Period, you will be deemed to have taken any and all paid time off, such as vacation time, sick and personal time and paid holidays (collectively "PTO"), that you have accrued prior to your Termination Date.

As for the non-competition, non-solicitation and/or confidentiality agreements you entered into, including, but not limited to, the Black Box Corporation Non-Compete and Non-Solicit Agreements (the last two of which are attached) you signed in connection with incentive awards granted to you, they shall remain in full force and effect in accordance with their terms, both during the Interim Period and following the Termination Date. However, should you execute the Release and should you comply with the other terms of those agreements, such as the confidentiality provisions and the non-solicitation of Black Box clients and Team Members provisions, the Company is willing to limit your Non-Compete obligations to six (6) months. Should you violate any of those provisions, the Non-Compete restrictions would be for two (2) years as per the terms of the Release.

In order to transition, you will have physical access to your Pittsburgh office and email access until Monday, March 16, 2015. You may keep your Company cell phone (and phone number) and iPad but you need to make arrangements to transfer such devices to a personal access/data plan. We have received your company badge, iPad and laptop computer. Please make arrangements to promptly return any other Company property in your possession and, if you have not done so, remove all personal items from your office. Please make arrangements to promptly return all other Company property (e.g., keys, security card, credit card and laptop computer) in your possession and remove all personal items from your office.

The Company will pay you through the Termination Date in accordance with normal payroll dates and practices and as required by applicable law; however, effective on the Termination Date, all future checks will be live checks mailed to your home address. Moreover, assuming you remain employed during the Interim Period and if otherwise earned, you remain eligible for a bonus, if any, for the fiscal year ending March 31, 2015 under the Annual Incentive Plan, paid in accordance with the terms of such Plan, less applicable withholdings, as well as any payout under the Performance Shares whose performance period ends on March 31, 2015. Any bonus payment you earn will be paid to you when paid to other employees in the Annual Incentive Plan. The Company will not be establishing a bonus target for you for FY16 and, therefore, you are not eligible to receive any bonus for FY16. You will not receive any additional LTIP awards.

For purposes of your awards granted under the Black Box Corporation 1992 Stock Option Plan and the Black Box Corporation 2008 Long-Term Incentive Plan, your termination will have the following effects on your awards:

◦ For stock options, if any are outstanding as of the Termination Date, you will have three (3) months (but not beyond the option expiration date) to exercise them from the Termination Date.

◦ Any RSUs that are unvested as of the Termination Date will be forfeited.

1

Exhibit 10.26

◦ Any unvested Performance Shares as of the Termination Date will be forfeited.

You will continue to be subject to the trading window limitations of Black Box Corporation’s policy for Purchase and Sale of Company Securities for the fiscal year ending March 31, 2015. Assuming the trading window opens in May 2015, you would no longer be subject to any trading window limitations under our policy but, in accordance with our policy and the law, you may not engage in transactions regarding Black Box stock while in the possession of material, non-public information.

The offer contained in this letter will remain open until 5:00 pm on Tuesday, March 17, 2015. If you agree to the terms of this offer, please sign and date this letter and return it to my attention by the deadline. Otherwise, any and all offers, including those contained in this letter (and the accompanying documents), my March 10, 2015 letter (and the accompanying documents) or discussed during or after our meeting on March 10, 2015, are revoked in their entirety.

If you need assistance or have questions, please contact me.

Sincerely,

/s/ Michael McAndrew

Michael McAndrew

CEO and President

Enclosures

Acknowledged and Agreed to:

By: /s/ Kenneth P. Davis3-17-15

Kenneth P. Davis                    Date

2

EX-21.1

Exhibit 21.1

SUBSIDIARIES OF THE REGISTRANT
Legal Name	Doing Business As	State or Other Jurisdiction of Incorporation or Organization
Black Box Corporation	Black Box Corporation	Delaware
ACS Communications, Inc.	ACS Communications, Inc.	Texas
ACS Dataline of the Northwest, Inc.	Black Box Network Services Black Box Network Services - Northwest Black Box Network Services - West	Oregon
ACS Investors, LLC	ACS Investors, LLC	Delaware
ACS Dataline, LP	Black Box Network Services Black Box Network Services - West	Texas
ADS Telecom, Inc.	Black Box Network Services	Florida
B & C Telephone, Inc.	Black Box Network Services Black Box Network Services - Spokane	Washington
BBox Holding Company	BBox Holding Company	Delaware
Advanced Network Technologies, Inc.	Black Box Network Services - California	California
Black Box Corporation of Pennsylvania	Black Box Network Services	Delaware
BB Technologies, Inc.	BB Technologies, Inc.	Delaware
Black Box A/S	Black Box A/S	Denmark
Black Box Canada Corporation	Black Box Canada Corporation	Canada
Black Box Comunicaciones, S.A.	Black Box Comunicaciones, S.A.	Spain
Black Box Datacom B.V.	Black Box Datacom B.V.	Netherlands
Black Box do Brasil Industria e Comercio Ltda.	Black Box do Brasil Industria e Comercio Ltda.	Brazil
Black Box France	Black Box France	France
Black Box GmbH	Black Box GmbH	Austria
Black Box International Holdings B.V.	Black Box International Holdings B.V.	Netherlands
BBOX Holdings Mexico LLC	BBOX Holdings Mexico LLC	Delaware
Black Box de Mexico, S.A. de C.V.	Black Box de Mexico, S.A. de C.V.	Mexico
Black Box Deutschland GmbH	Black Box Deutschland GmbH	Germany
Black Box Netzwerk Service GmbH	Black Box Netzwerk Service GmbH	Germany
Black Box Network Services AG	Black Box Network Services AG	Switzerland

1

Exhibit 21.1

SUBSIDIARIES OF THE REGISTRANT
Legal Name	Doing Business As	State or Other Jurisdiction of Incorporation or Organization
Black Box Network Services Australia Pty Ltd	Black Box Network Services Australia Pty Ltd	Australia
Black Box Network Services New Zealand Limited	Black Box Network Services New Zealand Limited	New Zealand
Black Box Network Services Co., Ltd.	Black Box Network Services Co., Ltd.	Japan
Black Box Network Services India Private Limited	Black Box Network Services India Private Limited	India
Black Box Network Services Korea Limited	Black Box Network Services Korea Limited	Korea
Black Box Network Services NV	Black Box Network Services NV	Belgium
Black Box Network Services S.r.l.	Black Box Network Services S.r.l.	Italy
Black Box Network Services (UK) Limited	Black Box Network Services (UK) Limited	England
Black Box P.R. Corp.	Black Box P.R. Corp.	Puerto Rico
Black Box LLC Holdings, Inc.	Black Box LLC Holdings, Inc.	Delaware
Nu-Vision Technologies, LLC	Black Box Network Services Black Box Network Services - Oregon	New York
BCS II, LLC	BCS II, LLC	Delaware
PS Technologies, LLC	Black Box Network Services Black Box Network Services - Western Operations	Maryland
PS Tech Video, LLC	Black Box Network Services	California
UCI Communications LLC	Black Box Network Services	South Carolina
Black Box Network Services, Inc. - Government Solutions	Black Box Network Services, Inc. - Government Solutions	Tennessee
Black Box Ventures Holding Company	Black Box Ventures Holding Company	Delaware
Delaney Telecom, Inc.	Black Box Network Services Black Box Network Services - East	Pennsylvania
DESIGNet, Inc.	Black Box Network Services - San Jose	California
InnerWireless, Inc.	Black Box Network Services Black Box Network Services - Wireless	Delaware
Jet Line Communications, Inc.	Black Box Network Services - Dallas	Texas
FBS Communications, L.P.	Black Box Network Services - San Antonio	Texas

2

Exhibit 21.1

SUBSIDIARIES OF THE REGISTRANT
Legal Name	Doing Business As	State or Other Jurisdiction of Incorporation or Organization
LOGOS Communications Systems, Inc.	Black Box Network Services Black Box Network Services - Cleveland	Ohio
Midwest Communications Technologies, Inc.	Black Box Network Services Black Box Network Services - Midwest	Ohio
Teldata Corporation	Black Box Network Services - Tennessee	Tennessee
Todd Communications, Inc.	Black Box Network Services - North Carolina	North Carolina
BBOX Holdings Puebla LLC	BBOX Holdings Puebla LLC	Delaware
Black Box Network Services Puebla, S.A. de C.V.	Black Box Network Services Puebla, S.A. de C.V.	Mexico
Black Box AB	Black Box AB	Sweden
Black Box Chile S.A.	Black Box Chile S.A.	Chile
Black Box Finland OY	Black Box Finland OY	Finland
Black Box Network Services AB	Black Box Network Services AB	Sweden
Black Box Network Services Corporation	Black Box Network Services Corporation	Taiwan
Black Box Network Services (Dublin) Limited	Black Box Network Services (Dublin) Limited	Ireland
Black Box Network Services SDN. BHD.	Black Box Network Services SDN. BHD.	Malaysia
Black Box Network Services Singapore Pte Ltd	Black Box Network Services Singapore Pte Ltd	Singapore
Black Box Norge AS	Black Box Norge AS	Norway
CBS Technologies Corp.	Black Box Network Services	New York
Mutual Telecom Services Inc.	Black Box Network Services Black Box Network Services - Needham	Delaware
Network Communications Technologies, Inc.	Black Box Network Services Black Box Network Services - Charlotte	North Carolina
Norstan, Inc.	Black Box Network Services	Minnesota
Norstan Communications, Inc.	Black Box Network Services Black Box Network Services - Minnesota Black Box Network Services - Montana Black Box Network Services - Northeast	Minnesota
NextiraOne, LLC	Black Box Network Services Black Box Network Services - Illinois Black Box Network Services - Midwest Black Box Network Services - Northeast Black Box Network Services - Northwest Black Box Network Services - South	Delaware

3

Exhibit 21.1

SUBSIDIARIES OF THE REGISTRANT
Legal Name	Doing Business As	State or Other Jurisdiction of Incorporation or Organization
NextiraOne California L.P.	NextiraOne California L.P.	California
NXO Installation, LLC	NXO Installation, LLC	Delaware
NextiraOne Federal, LLC	Black Box Network Services Black Box Network Services - Federal	Delaware
Quanta Systems, LLC	Black Box Network Services - Federal Security Solutions	Delaware
NextiraOne New York, LLC	Black Box Network Services	Delaware
Norstan Canada, Ltd./Norstan Canada, Ltee	Black Box Network Services	Canada
Vibes Technologies, Inc.	Black Box Resale Services	Minnesota
Nu-Vision Technologies, Inc.	Black Box Network Services	New York
Scottel Voice & Data, Inc.	Black Box Network Services Black Box Network Services - Pacific	California

4

EX-23.1

Exhibit 23.1

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Black Box Corporation

Lawrence, Pennsylvania

We hereby consent to the incorporation by reference in the Registration Statements on Form S­ 8 (Nos. 33-75254, 33-75252, 33-92656, 333-01978, 333-34839, 333-34837, 333-81521, 333-81523, 333‑64410, 333-64412, 333-100294, 333-100295, 333-116550, 333-116551, 333-125839, 333-125840, 333-129838, 333-146202, 333-157467 and 333-196079) of our reports dated May 15, 2015 relating to the consolidated financial statements, financial statement schedule, and the effectiveness of Black Box Corporation's internal control over financial reporting which appear in this Annual Report on Form 10-K.

/s/ BDO USA, LLP

Chicago, Illinois

May 15, 2015

EX-31.1

Exhibit 31.1

CERTIFICATION

I, Michael McAndrew, certify that:

1. I have reviewed this Annual Report on Form 10-K of Black Box Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 15, 2015

/s/ Michael McAndrew                               

Michael McAndrew

Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION

I, Timothy C. Huffmyer, certify that:

1. I have reviewed this Annual Report on Form 10-K of Black Box Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 15, 2015

/s/ Timothy C. Huffmyer          

Timothy C. Huffmyer

Vice President, Chief Financial Officer and

Treasurer (Principal Accounting Officer)

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Black Box Corporation (the "Company") on Form 10-K for the period ended March 31, 2015 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), each of the undersigned officers of the Company, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, certifies that to his knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Michael McAndrew                               

Michael McAndrew

Chief Executive Officer

May 15, 2015

/s/ Timothy C. Huffmyer                              

Timothy C. Huffmyer

Vice President, Chief Financial Officer and

Treasurer (Principal Accounting Officer)

May 15, 2015

This certification is made solely for purposes of 18 U.S.C. Section 1350, subject to the knowledge standard contained therein, and not for any other purpose.

XML

Earnings (loss) Per Share (Tables)

12 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table details the computation of basic and diluted earnings (loss) per common share from continuing operations for the periods presented (share numbers in thousands):

	Fiscal
	2015		2014			2013
Net income (loss)	$	15,342	$	(115,873	)	$	28,806
Weighted-average common shares outstanding (basic)	15,407		15,813			16,627
Effect of dilutive securities from equity awards	76		—			62
Weighted-average common shares outstanding (diluted)	15,483		15,813			16,689
Basic earnings (loss) per common share	$	1.00	$	(7.33	)	$	1.73
Dilutive earnings (loss) per common share	$	0.99	$	(7.33	)	$	1.73

XML

Derivative Instruments and Hedging Activities (Effect on Consolidated Statements of Operations) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Derivatives designated as hedging instruments | Foreign currency contracts | Other comprehensive income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income (effective portion), net of taxes	$ (250)	$ (1,212)	$ (375)
Derivatives designated as hedging instruments | Foreign currency contracts | Selling, general & administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from AOCI into results of operations (effective portion), net of taxes	305	1,125	357
Derivatives not designated as hedging instruments | Interest-rate swaps | Interest expense (income), net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in results of operations	$ 1,147	$ 832	$ (606)

XML

Intangible Assets (Expected Future Amortization Expense) (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2016	$ 10,271
2017	8,884
2018	7,427
2019	6,446
2020	5,951
Thereafter	21,380
Total	$ 60,359	$ 70,906

XML

Earnings (loss) Per Share (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Mar. 31, 2015	Dec. 27, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 31, 2014	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Earnings Per Share [Abstract]
Net income (loss)	$ 2,922	$ 5,274	$ 3,203	$ 3,943	$ (135,021)	$ 6,658	$ 5,585	$ 6,905	$ 15,342	$ (115,873)	$ 28,806
Weighted-average common shares outstanding (basic)									15,407,000	15,813,000	16,627,000
Effect of dilutive securities from equity awards									76,000	0	62,000
Weighted-average common shares outstanding (diluted)									15,483,000	15,813,000	16,689,000
Basic earnings (loss) per common share	$ 0.19	$ 0.34	$ 0.21	$ 0.25	$ (8.65)	$ 0.42	$ 0.35	$ 0.43	$ 1.00	$ (7.33)	$ 1.73
Dilutive earnings (loss) per common share	$ 0.19	$ 0.34	$ 0.21	$ 0.25	$ (8.65)	$ 0.42	$ 0.35	$ 0.43	$ 0.99	$ (7.33)	$ 1.73
Non-dilutive equity awards excluded from computation of weighted-average common shares outstanding (shares)									1,851,059	2,017,805	2,648,137

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Fair Value Disclosures (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Defined benefit plan, assets	$ 35,671	$ 34,229	$ 29,884
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Defined benefit plan, assets	35,671
Assets, Fair Value Disclosure	36,073
Liabilities, Fair Value Disclosure, Recurring	5,359
Recurring | Foreign currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value	402
Derivative liability, fair value	4,959
Recurring | Interest-rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value	400
Recurring | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	12,950
Liabilities, Fair Value Disclosure, Recurring	0
Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	23,123
Liabilities, Fair Value Disclosure, Recurring	5,359
Recurring | Level 2 | Foreign currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value	402
Derivative liability, fair value	4,959
Recurring | Level 2 | Interest-rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value	400
Mutual Funds [Member] | Recurring | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Defined benefit plan, assets	12,950
Common Collective Trust [Member] | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Defined benefit plan, assets	$ 22,721

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Intangible Assets (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Intangible Assets (Excluding Goodwill) [Line Items]
Definite-lived intangible assets, gross carrying amount	$ 170,006	$ 170,366
Definite-lived intangible assets, accumulated amortization	109,647	99,460
Total	60,359	70,906
Total intangible assets, gross carrying amount	205,998	206,358
Total intangible assets, accumulated amortization	117,900	107,713
Total intangible assets, net carrying amount	88,098	98,645	110,668
Non-compete agreements [Member]
Intangible Assets (Excluding Goodwill) [Line Items]
Definite-lived intangible assets, gross carrying amount	11,901	12,261
Definite-lived intangible assets, accumulated amortization	11,548	11,577
Total	353	684
Customer Relationships
Intangible Assets (Excluding Goodwill) [Line Items]
Definite-lived intangible assets, gross carrying amount	137,267	137,267
Definite-lived intangible assets, accumulated amortization	77,988	68,644
Total	59,279	68,623
Total intangible assets, net carrying amount	59,279	68,623	79,175
Acquired backlog [Member]
Intangible Assets (Excluding Goodwill) [Line Items]
Definite-lived intangible assets, gross carrying amount	20,838	20,838
Definite-lived intangible assets, accumulated amortization	20,111	19,239
Total	727	1,599
Trademarks
Intangible Assets (Excluding Goodwill) [Line Items]
Indefinite-lived intangible assets, gross carrying amount	35,992	35,992
Indefinite-lived intangible assets, accumulated amortization	8,253	8,253
Indefinite-lived intangible assets, net carrying amount	27,739	27,739
Total intangible assets, net carrying amount	$ 27,739	$ 27,739	$ 27,739

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Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Mar. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments and Impact on Statements of Operations

The following tables summarize the carrying amounts of derivative assets/liabilities and the impact on the Company’s Consolidated Statements of Operations:

		Asset Derivatives				Liability Derivatives
		March 31,
	Classification	2015		2014		2015		2014
Derivatives designated as hedging instruments
Foreign currency contracts	Other liabilities (current)					$	4,959	$	358
Foreign currency contracts	Other assets (current)	$	402	$	478
Derivatives not designated as hedging instruments
Interest-rate swaps	Other liabilities (non-current)					400		1,547

		Fiscal
	Classification	2015			2014			2013
Derivatives designated as hedging instruments
Gain (loss) recognized in other comprehensive income (effective portion), net of taxes	Other comprehensive income	$	(250	)	$	(1,212	)	$	(375	)
Amounts reclassified from AOCI into results of operations (effective portion), net of taxes	Selling, general & administrative expenses	305			1,125			357
Derivatives not designated as hedging instruments
Gain (loss) recognized in results of operations	Interest expense (income), net	1,147			832			(606		)

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Quarterly Data (Unaudited) (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended																12 Months Ended
	Mar. 31, 2015		Dec. 27, 2014		Sep. 27, 2014		Jun. 28, 2014		Mar. 31, 2014		Dec. 28, 2013		Sep. 28, 2013		Jun. 29, 2013		Mar. 31, 2015		Mar. 31, 2014		Mar. 31, 2013
Revenues
Total Products	$ 42,435		$ 46,616		$ 44,549		$ 43,219		$ 46,226		$ 44,528		$ 43,191		$ 48,208		$ 176,819		$ 182,153		$ 186,283
Total Services	202,616		206,678		204,324		202,007		192,052		195,161		203,619		198,689		815,625		789,521		811,503
Total	245,051		253,294		248,873		245,226		238,278		239,689		246,810		246,897		992,444		971,674		997,786
Cost of sales
Total Products	23,931		27,930		25,943		25,271		26,979		25,754		24,249		28,495		103,075	[1]	105,477	[1]	103,876	[1]
Total Services	144,584		148,569		149,221		144,726		135,660		140,151		145,433		141,371		587,100	[1]	562,615	[1]	573,980	[1]
Total	168,515		176,499		175,164		169,997		162,639		165,905		169,682		169,866		690,175	[1]	668,092	[1]	677,856	[1]
Gross profit	76,536		76,795		73,709		75,229		75,639		73,784		77,128		77,031		302,269		303,582		319,930
Selling, general & administrative expenses	69,970	[2]	65,145	[2]	64,016	[2]	64,015	[2]	63,395	[3]	60,366	[3]	60,490	[3]	61,270	[3]	263,146	[2]	245,521	[3]	249,924
Goodwill impairment loss									154,429		0		0		0		0		154,429		0
Intangibles amortization	2,609		2,647		2,643		2,650		2,683		2,923		3,109		3,309		10,549		12,024		13,737
Operating income (loss)	3,957		9,003		7,050		8,564		(144,868)		10,495		13,529		12,452		28,574	[4],[5]	(108,392)	[4],[6]	56,269	[7]
Interest expense, net	1,088		1,170		1,027		1,131		1,116		1,230		1,378		923		4,416		4,647		6,090
Other expenses (income), net	319		112		180		(41)		87	[8]	84	[8]	910	[8]	116	[8]	570		1,197	[8]	3,716
Income (loss) before provision for income taxes	2,550		7,721		5,843		7,474		(146,071)		9,181		11,241		11,413		23,588		(114,236)		46,463
Provision (benefit) for income taxes	(372)		2,447		2,640		3,531		(11,050)		2,523		5,656		4,508		8,246		1,637		17,657
Net income (loss)	2,922		5,274		3,203		3,943		(135,021)		6,658		5,585		6,905		15,342		(115,873)		28,806
Earnings (loss) per common share
Basic	$ 0.19		$ 0.34		$ 0.21		$ 0.25		$ (8.65)		$ 0.42		$ 0.35		$ 0.43		$ 1.00		$ (7.33)		$ 1.73
Diluted	$ 0.19		$ 0.34		$ 0.21		$ 0.25		$ (8.65)		$ 0.42		$ 0.35		$ 0.43		$ 0.99		$ (7.33)		$ 1.73
Restructuring expense	4,139		967		1,132		616		1,734		833		734		139		6,854		3,440		8,445
Joint venture investment loss																	$ 0		$ 822		$ 2,670

[1] Exclusive of depreciation and intangibles amortization.

[2] Includes restructuring expense of $616, $1,132, $967 and $4,139 for 1Q15, 2Q15, 3Q15 and 4Q15, respectively.

[3] Includes restructuring expense of $139, $734, $833 and $1,734 for 1Q14, 2Q14, 3Q14 and 4Q14, respectively.

[4] These results reflect a reclassification of expense that reduced Operating income (loss) in North America Products by $1,218 and $1,686 in Fiscal 2015 and Fiscal 2014, respectively, with a corresponding increase of the same amounts for Operating income (loss) in North America Services. This reclassification had no effect on our consolidated financial results.

[5] Includes restructuring expense of $6,854 ($215 for North America Products, $3,898 for North America Services, $2,260 for International Products and $481 for International Services) recorded during Fiscal 2015.

[6] Includes restructuring expense of $3,440 ($308 for North America Products, $1,958 for North America Services, $594 for International Products and $580 for International Services) and goodwill impairment loss of $154,429 ($42,613 for North America Products, $86,904 for North America Services, $20,159 for International Products and $4,753 for International Services) recorded during Fiscal 2014.

[7] Includes restructuring expense of $8,445 ($688 for North America Products, $5,578 for North America Services, $1,879 for International Products and $300 for International Services) recorded during Fiscal 2013.

[8] Includes a loss of $822 during the second quarter of Fiscal 2014 due to the probable divestiture of our non-controlling interest in GNIS, a joint venture company which was formed in conjunction with Genesis Networks Enterprises, LLC.

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Income Taxes (Schedule of Income before Income Tax) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Mar. 31, 2015	Dec. 27, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 31, 2014	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Income Tax Disclosure [Abstract]
Domestic									$ 17,865	$ (100,786)	$ 34,597
Foreign									5,723	(13,450)	11,866
Income (loss) before provision for income taxes	$ 2,550	$ 7,721	$ 5,843	$ 7,474	$ (146,071)	$ 9,181	$ 11,241	$ 11,413	$ 23,588	$ (114,236)	$ 46,463

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Segment Reporting (Narrative) (Details)	12 Months Ended
	Mar. 31, 2015 segment
Segment Reporting [Abstract]
Number of Operating Segments	4

XML

Commitments and Contingencies

12 Months Ended

Mar. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

The Company is involved in, or has pending, various legal proceedings, claims, suits and complaints arising out of the normal course of business. Based on the facts currently available to the Company, Management believes these matters are adequately provided for, covered by insurance, without merit or not probable that an unfavorable material outcome will result.

Product Warranties

Estimated future warranty costs related to certain products are charged to expense during the period the related revenue is recognized. The product warranty liability reflects the Company’s best estimate of probable obligations under those warranties. As of March 31, 2015 and 2014, the Company has recorded a warranty reserve of $1,214 and $1,520, respectively.

There has been no other significant or unusual activity during Fiscal 2015.

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Indebtedness (Revolving Credit Agreement) (Details) (USD $)	12 Months Ended			0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013	Mar. 23, 2012	Apr. 16, 2015
Revolving credit agreement
Revolving Credit Agreement [Line Items]
Maximum borrowing capacity				400,000,000
Additional borrowing capacity with the approval of the lenders				100,000,000
Maximum amount outstanding	206,930,000	208,730,000	220,470,000
Weighted-average amount outstanding	182,149,000	190,015,000	203,072,000
Weighted-average interest rate	1.70%	1.50%	1.50%
Unused commitments	259,950,000
Swing-line loans [Member]
Revolving Credit Agreement [Line Items]
Maximum borrowing capacity				25,000,000
Letters of credit [Member]
Revolving Credit Agreement [Line Items]
Maximum borrowing capacity				25,000,000
Amount outstanding	4,050,000
London Interbank Offered Rate (LIBOR) [Member] | Revolving credit agreement | Minimum [Member]
Revolving Credit Agreement [Line Items]
Basis spread on variable rate				0.875%
London Interbank Offered Rate (LIBOR) [Member] | Revolving credit agreement | Maximum [Member]
Revolving Credit Agreement [Line Items]
Basis spread on variable rate				1.75%
Weighted-average Overnight Federal Fund Rates [Member] | Revolving credit agreement | Fixed component [Member]
Revolving Credit Agreement [Line Items]
Basis spread on variable rate				0.50%
Weighted-average Overnight Federal Fund Rates [Member] | Revolving credit agreement | Variable component [Member] | Minimum [Member]
Revolving Credit Agreement [Line Items]
Basis spread on variable rate				0.00%
Weighted-average Overnight Federal Fund Rates [Member] | Revolving credit agreement | Variable component [Member] | Maximum [Member]
Revolving Credit Agreement [Line Items]
Basis spread on variable rate				0.75%
Subsequent Event [Member] | Revolving credit agreement
Revolving Credit Agreement [Line Items]
Maximum borrowing capacity					300,000
Line of Credit Facility, Increase (Decrease) in Maximum Borrowing Capacity					$ (100,000)

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Significant Accounting Policies (Details) (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Accounting Policies [Line Items]
Property, plant and equipment impairment	$ 0	$ 0	$ 0
Intangible asset impairment	0	0	0
Common stock, par value	$ 0.001	$ 0.001
Advertising expense	5,629,000	4,778,000	4,636,000
Defined benefit plan, assets	35,671,000	34,229,000	29,884,000
Recurring
Accounting Policies [Line Items]
Defined benefit plan, assets	35,671,000
Recurring | Fair Value, Inputs, Level 1 [Member] | Mutual Funds [Member]
Accounting Policies [Line Items]
Defined benefit plan, assets	12,950,000
Recurring | Fair Value, Inputs, Level 2 [Member] | Common Collective Trust [Member]
Accounting Policies [Line Items]
Defined benefit plan, assets	22,721,000
Minimum [Member]
Accounting Policies [Line Items]
Catalogs and other direct marketing pieces, useful life	1 year
Maximum [Member]
Accounting Policies [Line Items]
Catalogs and other direct marketing pieces, useful life	2 years
Building and improvements | Minimum [Member]
Accounting Policies [Line Items]
Property, plant and equipment, useful life	30 years
Building and improvements | Maximum [Member]
Accounting Policies [Line Items]
Property, plant and equipment, useful life	40 years
Equipment [Member] | Minimum [Member]
Accounting Policies [Line Items]
Property, plant and equipment, useful life	3 years
Equipment [Member] | Maximum [Member]
Accounting Policies [Line Items]
Property, plant and equipment, useful life	5 years
Computer Hardware [Member] | Minimum [Member]
Accounting Policies [Line Items]
Property, plant and equipment, useful life	3 years
Computer Hardware [Member] | Maximum [Member]
Accounting Policies [Line Items]
Property, plant and equipment, useful life	5 years
Software [Member] | Minimum [Member]
Accounting Policies [Line Items]
Property, plant and equipment, useful life	3 years
Software [Member] | Maximum [Member]
Accounting Policies [Line Items]
Property, plant and equipment, useful life	5 years
Non-compete agreements [Member] | Minimum [Member]
Accounting Policies [Line Items]
Finite-lived intangible asset, useful life	3 years
Non-compete agreements [Member] | Maximum [Member]
Accounting Policies [Line Items]
Finite-lived intangible asset, useful life	5 years
Acquired backlog [Member]
Accounting Policies [Line Items]
Finite-lived intangible asset, useful life	1 year
Customer Relationships | Minimum [Member]
Accounting Policies [Line Items]
Finite-lived intangible asset, useful life	4 years
Customer Relationships | Maximum [Member]
Accounting Policies [Line Items]
Finite-lived intangible asset, useful life	20 years
Provision for Doubtful Accounts [Member]
Accounting Policies [Line Items]
Additions Charged to Expense	$ 1,638,000	$ 4,324,000	$ 3,556,000

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Schedule II Valuation and Qualifying Accounts (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Excess and obsolete inventory reserves [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, beginning	$ 17,386	$ 18,040	$ 18,900
Additions Charged to Expense	2,260	2,522	3,586
Additions from Acquisitions	0	0	0
Reductions from Reserves	(3,022)	(3,176)	(4,392)
Other	0	0	(54)
Balance, ending	16,624	17,386	18,040
Allowance for doubtful accounts [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, beginning	5,949	6,300	6,273
Additions Charged to Expense	1,638	4,324	3,556
Additions from Acquisitions	0	0	0
Reductions from Reserves	(2,478)	(4,674)	(3,531)
Other	0	(1)	2
Balance, ending	$ 5,109	$ 5,949	$ 6,300

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Operating Leases (Tables)

12 Months Ended

Mar. 31, 2015

Leases [Abstract]

Schedule of Future Minimum Lease Payments for Capital Leases and Operating Leases

The future minimum lease payments under non-cancelable capital and operating leases with initial or remaining terms of one year or more as of March 31, 2015 are as follows:

Fiscal
2016	$	11,320
2017	8,673
2018	6,438
2019	4,432
2020	2,164
Thereafter	3,308
Total minimum lease payments	$	36,335

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Derivative Instruments and Hedging Activities (Details) (USD $)	12 Months Ended			0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013	Jul. 26, 2012
Derivatives designated as hedging instruments
Derivative [Line Items]
Foreign currency contracts, hedge ineffectiveness	$ 0	$ 0	$ 0
Foreign currency contracts | Derivatives designated as hedging instruments | Cash flow hedging [Member]
Derivative [Line Items]
Notional amount	50,874,000
Remaining maturity	8 months
July 2012 Interest-rate Swap | Interest-rate swaps | Derivatives not designated as hedging instruments
Derivative [Line Items]
Notional amount				$ 125,000,000
Remaining maturity				3 years
Fixed interest rate				1.25%

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Incentive Compensation Plans (Stock Options) (Details) (Stock options [Member], USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Contractual life	10 years
Stock-based Compensation, Fair Value Assumptions [Abstract]
Expected life (in years)	7 years 8 months	6 years 9 months	7 years
Risk free interest rate	2.30%	1.30%	0.80%
Annual forfeiture rate	1.50%	2.50%	2.00%
Expected Volatility	45.10%	42.30%	44.60%
Dividend yield	1.30%	1.30%	1.00%
Stock-based Compensation, Shares (in 000's) [Roll Forward]
March 31, 2014	2,018
Granted	165
Exercised	0
Forfeited or cancelled	(339)
March 31, 2015	1,844	2,018
Exercisable at March 31, 2015	1,554
Stock-based Compensation, Weighted Average Exercise Price (Per Share) [Roll Forward]
March 31, 2014	$ 32.89
Granted	$ 21.79
Exercised	$ 0.00
Forfeited or cancelled	$ 34.24
March 31, 2015	$ 31.65	$ 32.89
Exercisable at March 31, 2015	$ 33.20
Stock-based Compensation, Additional Disclosures [Abstract]
Outstanding, Weighted Average Remaining Contractual Life	3 years 6 months
Exercisable, Weighted Average Remaining Contractual Life	2 years 7 months
Outstanding, Intrinsic Value	$ 0
Exercisable, Intrinsic Value	0
Total instrinsic value of options exercised	0	25	0
Closing stock price (per share)	$ 20.93
Stock-based Compensation, Nonvested, Shares (in 000's) [Roll Forward]
Non-vested, beginning	258
Granted	165
Vested	(118)
Forfeited	(15)
Non-vested, ending	290	258
Stock-based Compensation, Nonvested, Weighted Average Grant Date Fair Value (Per Share) [Roll Forward]
Non-vested, beginning	$ 10.07
Granted	$ 9.59	$ 10.06	$ 9.02
Vested	$ 10.38
Forfeited	$ 9.77
Non-vested, ending	$ 9.68	$ 10.07
Total unrecognized pre-tax stock-based compensation expense related to non-vested shares	$ 1,587
Weighted-average period of recognition	1 year 9 months

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Income Taxes (Schedule of Unrecognized Tax Benefits) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 4,384	$ 5,340	$ 5,204
Additions for tax positions related to the current year	62	193	465
Additions for tax positions related to prior years	170	209	213
Reductions for tax positions related to prior years	0	(896)	(542)
Settlements	(533)	(462)	0
Balance at end of year	$ 4,083	$ 4,384	$ 5,340

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Intangible Assets (Changes in Carrying Amount) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Mar. 31, 2015	Dec. 27, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 31, 2014	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Intangible Assets [Roll Forward]
Intangible assets, beginning balance				$ 98,645				$ 110,668	$ 98,645	$ 110,668
Intangibles amortization	(2,609)	(2,647)	(2,643)	(2,650)	(2,683)	(2,923)	(3,109)	(3,309)	(10,549)	(12,024)	(13,737)
Foreign Currency Translation Adjustment									2	1
Intangible assets, ending balance	88,098				98,645				88,098	98,645	110,668
Trademarks
Intangible Assets [Roll Forward]
Intangible assets, beginning balance				27,739				27,739	27,739	27,739
Intangibles amortization									0	0
Foreign Currency Translation Adjustment									0	0
Intangible assets, ending balance	27,739				27,739				27,739	27,739
Non-Competes and Backlog
Intangible Assets [Roll Forward]
Intangible assets, beginning balance				2,283				3,754	2,283	3,754
Intangibles amortization									(1,205)	(1,472)
Foreign Currency Translation Adjustment									2	1
Intangible assets, ending balance	1,080				2,283				1,080	2,283
Customer Relationships
Intangible Assets [Roll Forward]
Intangible assets, beginning balance				68,623				79,175	68,623	79,175
Intangibles amortization									(9,344)	(10,552)
Foreign Currency Translation Adjustment									0	0
Intangible assets, ending balance	$ 59,279				$ 68,623				$ 59,279	$ 68,623

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Business and Basis of Presentation

12 Months Ended

Mar. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Business and Basis of Presentation

Business and Basis of Presentation

Business

Black Box Corporation ("Black Box," or "the Company”) is a leading technology solutions provider dedicated to helping customers design, build, manage, and secure their IT infrastructure. The Company offers Products and Services that it distributes through two platforms it has built over its 39-year history. The Products platform provides networking solutions through the sale of products including: (i) IT infrastructure, (ii) specialty networking, (iii) multimedia and (iv) keyboard/video/mouse ("KVM") switching. The Services platform is comprised of engineering and design, network operations centers, technical certifications, national and international sales teams, remote monitoring, on-site service teams and technology partner centers of excellence which includes dedicated sales and engineering resources. The primary services offered through this platform include: (i) communications lifecycle services, (ii) unified communications, (iii) structured cabling, (iv) video/AV services, (v) in-building wireless and (vi) data center services. Founded in 1976, Black Box, a Delaware corporation, is headquartered near Pittsburgh in Lawrence, Pennsylvania.

In connection with a new management team and a renewed business strategy, the Company has realigned its organizational structure which resulted in the identification of new operating segments (North America Products, North America Services, International Products and International Services) for the purpose of making operational decisions and assessing financial performance effective, on a prospective basis, beginning on April 1, 2013. See Note 5 and Note 15 for additional information.

Basis of Presentation

References herein to "Fiscal Year" or "Fiscal" mean the Company’s fiscal year ended March 31 for the year referenced. All references to dollar amounts herein are presented in thousands, except per share amounts, unless otherwise noted.

The consolidated financial statements include the accounts of the parent company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain items in the consolidated financial statements of prior years have been reclassified to conform to the current year’s presentation.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires Company management ("Management") to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates in these financial statements include project progress towards completion to estimated budget, allowances for doubtful accounts receivable, sales returns, net realizable value of inventories, loss contingencies, warranty reserves, intangible assets and goodwill. Actual results could differ from those estimates. Management believes the estimates made are reasonable.

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Stockholder's Equity (Dividends) (Details) (USD $)	12 Months Ended
	Mar. 31, 2015	Dec. 27, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 31, 2014	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 31, 2013	Dec. 29, 2012	Sep. 29, 2012	Jun. 30, 2012
Stockholders' Equity Note [Abstract]
Dividends, rate (per share)	$ 0.10	$ 0.10	$ 0.10	$ 0.10	$ 0.09	$ 0.09	$ 0.09	$ 0.09	$ 0.08	$ 0.08	$ 0.08	$ 0.08
Dividends, aggregate value	$ 1,537,000	$ 1,536,000	$ 1,544,000	$ 1,554,000	$ 1,400,000	$ 1,410,000	$ 1,430,000	$ 1,445,000	$ 1,291,000	$ 1,304,000	$ 1,323,000	$ 1,355,000
Maximum regular quarterly dividends per year permitted under credit agreement	$ 15,000

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Inventories (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Inventory Disclosure [Abstract]
Raw materials	$ 1,674	$ 1,294
Finished goods	69,387	68,303
Inventory, gross	71,061	69,597
Excess and obsolete inventory reserves	(16,624)	(17,386)
Inventories, net	$ 54,437	$ 52,211

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Property, Plant and Equipment (Tables)

12 Months Ended

Mar. 31, 2015

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

The Company’s Property, plant and equipment consist of the following:

	March 31,
	2015			2014
Land	$	2,396		$	2,396
Building and improvements	31,367			31,384
Equipment and computer hardware and software	77,458			71,366
Property, plant and equipment, gross	111,221			105,146
Accumulated depreciation	(78,974		)	(76,094		)
Property, plant and equipment, net	$	32,247		$	29,052

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Inventories (Tables)

12 Months Ended

Mar. 31, 2015

Inventory Disclosure [Abstract]

Schedule of Inventories

The Company’s Inventories consist of the following:

	March 31,
	2015			2014
Raw materials	$	1,674		$	1,294
Finished goods	69,387			68,303
Inventory, gross	71,061			69,597
Excess and obsolete inventory reserves	(16,624		)	(17,386		)
Inventories, net	$	54,437		$	52,211

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Income Taxes (Narrative) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2012
Operating Loss Carryforwards [Line Items]
Effective tax rate	35.00%	(1.40%)	38.00%
Non-deductible goodwill impairment loss		$ 114,920
Net deferred tax asset	30,912	35,877
Operating loss carryforwards, annual limitation on deductions due to section 382	6,178
Operating loss carryforwards valuation allowance	3,518
Undistributed Earnings of Foreign Subsidiaries	7,577
Unrecognized tax benefits	4,083	4,384	5,340	5,204
Unrecognized tax benefits, amount expected to reverse in next twelve months	234
Interest and penalties	1,065	1,114	1,001
Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, subject to expiration	41,769
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, subject to expiration	107,498
Foreign Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	23,863
Foreign Tax Authority [Member] | Austria [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, not subject to expiration	164
Foreign Tax Authority [Member] | Belgium [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, not subject to expiration	580
Foreign Tax Authority [Member] | Brazil [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, not subject to expiration	$ 9,498

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Property, Plant and Equipment (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 111,221	$ 105,146
Accumulated depreciation	(78,974)	(76,094)
Property, plant and equipment, net	32,247	29,052
Depreciation	6,978	6,187	5,386
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,396	2,396
Building and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	31,367	31,384
Equipment and computer hardware and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 77,458	$ 71,366

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Goodwill (Tables)

12 Months Ended

Mar. 31, 2015

Goodwill [Abstract]

Schedule of Goodwill

The following table summarizes Goodwill at the Company’s reporting segments, which has been allocated from the historical geographic-based reporting segments using a relative fair market value approach:

	North America Products			North America Services			International Products			International Services			Total
Goodwill (gross) at March 31, 2013	$	79,763		$	506,222		$	38,524		$	38,685		$	663,194
Accumulated impairment losses at March 31, 2013	$	(232	)	$	(277,132	)	$	(13,724	)	$	(26,709	)	$	(317,797	)
Goodwill (net) at March 31, 2013	$	79,531		$	229,090		$	24,800		$	11,976		$	345,397
Foreign currency translation adjustment	$	(14	)	$	59		$	500		$	1,441		$	1,986
Goodwill impairment loss	$	(42,613	)	$	(86,904	)	$	(20,159	)	$	(4,753	)	$	(154,429	)
Goodwill (gross) at March 31, 2014	$	79,749		$	506,281		$	39,024		$	40,126		$	665,180
Accumulated impairment losses at March 31, 2014	(42,845		)	(364,036		)	(33,883		)	(31,462		)	(472,226		)
Goodwill (net) at March 31, 2014	$	36,904		$	142,245		$	5,141		$	8,664		$	192,954
Foreign currency translation adjustment	(4		)	(10		)	193			(1,955		)	(1,776		)
Goodwill (gross) at March 31, 2015	$	79,745		$	506,271		$	39,217		$	38,171		$	663,404
Accumulated impairment losses at March 31, 2015	(42,845		)	(364,036		)	(33,883		)	(31,462		)	(472,226		)
Goodwill (net) at March 31, 2015	$	36,900		$	142,235		$	5,334		$	6,709		$	191,178

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Intangible Assets (Tables)

12 Months Ended

Mar. 31, 2015

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Schedule of Definite-lived and Indefinite-lived Intangible Assets

The following table summarizes the gross carrying amount, accumulated amortization and net carrying amount by intangible asset class:

	March 31,
	2015						2014
	Gross Carrying Amount		Accum. Amort.		Net Carrying Amount		Gross Carrying Amount		Accum. Amort.		Net Carrying Amount
Definite-lived
Non-compete agreements	$	11,901	$	11,548	$	353	$	12,261	$	11,577	$	684
Customer relationships	137,267		77,988		59,279		137,267		68,644		68,623
Acquired backlog	20,838		20,111		727		20,838		19,239		1,599
Total	$	170,006	$	109,647	$	60,359	$	170,366	$	99,460	$	70,906
Indefinite-lived
Trademarks	35,992		8,253		27,739		35,992		8,253		27,739
Total	$	205,998	$	117,900	$	88,098	$	206,358	$	107,713	$	98,645

Schedule of Changes in Net Carrying Amounts of Intangible Assets

The following table summarizes the changes to the net carrying amounts by Intangible asset class:

	Trademarks		Non-Competes and Backlog			Customer Relationships			Total
March 31, 2013	$	27,739	$	3,754		$	79,175		$	110,668
Intangibles amortization	—		(1,472		)	(10,552		)	(12,024		)
Foreign Currency Translation Adjustment	—		1			—			1
March 31, 2014	$	27,739	$	2,283		$	68,623		$	98,645
Intangibles amortization	—		(1,205		)	(9,344		)	(10,549		)
Foreign Currency Translation Adjustment	—		2			—			2
March 31, 2015	$	27,739	$	1,080		$	59,279		$	88,098

Schedule of Expected Amortization Expense

The following table details the estimated intangibles amortization expense for the next five years.

Fiscal
2016	$	10,271
2017	8,884
2018	7,427
2019	6,446
2020	5,951
Thereafter	21,380
Total	$	60,359

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Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Operating Activities
Net income (loss)	$ 15,342	$ (115,873)	$ 28,806
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities
Intangibles amortization	10,549	12,024	13,737
Depreciation	6,978	6,187	5,386
Loss (gain) on sale of property	(143)	92	(105)
Deferred taxes	4,656	(8,672)	4,144
Stock compensation expense	6,009	6,589	7,712
Change in fair value of interest-rate swaps	(1,147)	(832)	606
Goodwill impairment loss	0	154,429	0
Joint venture investment loss	0	822	2,670
Changes in operating assets and liabilities (net of acquisitions)
Accounts receivable, net	1,530	(2,866)	10,047
Inventories, net	(3,485)	3,299	1,231
Costs/estimated earnings in excess of billings on uncompleted contracts	9,892	11,767	(13,928)
All other assets	(14,152)	(778)	(3,217)
Billings in excess of costs/estimated earnings on uncompleted contracts	580	2,543	(908)
Accounts payable	1,786	(1,360)	(4,859)
All other liabilities	8,103	(11,025)	(4,621)
Net cash provided by (used for) operating activities	46,498	56,346	46,701
Investing Activities
Capital expenditures	(8,515)	(7,338)	(6,323)
Capital disposals	208	16	389
Acquisition of businesses (payments)/recoveries	0	0	17
Prior merger-related (payments)/recoveries	(780)	(779)	(2,388)
Net cash provided by (used for) investing activities	(9,087)	(8,101)	(8,305)
Financing Activities
Proceeds (repayments) from long-term debt	(24,475)	(27,382)	7,735
Proceeds (repayments) from short-term debt	(2,291)	2,267	4,005
Deferred financing costs	0	0	(20)
Purchase of treasury stock	(8,076)	(21,794)	(37,214)
Proceeds from the exercise of stock options	0	988	0
Payment of dividends	(6,034)	(5,576)	(5,206)
Increase (decrease) in cash overdrafts	(321)	(524)	1,237
Net cash provided by (used for) financing activities	(41,197)	(52,021)	(29,463)
Foreign currency exchange impact on cash	(3,490)	3,866	(657)
Increase/(decrease) in cash and cash equivalents	(7,276)	90	8,276
Cash and cash equivalents at beginning of period	30,810	30,720	22,444
Cash and cash equivalents at end of period	23,534	30,810	30,720
Supplemental cash flow
Cash paid for interest	5,450	5,527	5,092
Cash paid for income taxes	8,259	13,651	10,097
Non-cash financing activities
Dividends payable	1,537	1,400	1,291
Capital leases	$ 2,028	$ 260	$ 33

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Indebtedness (Tables)

12 Months Ended

Mar. 31, 2015

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The Company’s long-term debt consists of the following:

	March 31,
	2015			2014
Revolving credit agreement	$	136,000		$	160,355
Other	2,132			277
Total debt	$	138,132		$	160,632
Less: current portion (included in Other liabilities)	(865		)	(203		)
Long-term debt	$	137,267		$	160,429

Schedule of Maturities of Total Debt

At March 31, 2015, scheduled maturities or required payments of total debt for each of the five succeeding fiscal years were as follows:

Fiscal
2016	$	865
2017	136,634
2018	633
2019	—
2020	—
Total	$	138,132

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Segment Reporting (Tables)

12 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The financial results for the Company's reporting segments are as follows:

	North America Products			North America Services			International Products			International Services			Total
FY15
Revenues	$	85,205		$	785,681		$	91,614		$	29,944		$	992,444
Gross profit	36,082			220,469			37,662			8,056			302,269
Operating income (loss) 1 2	4,564			22,195			(277		)	2,092			28,574
Depreciation expense	2,186			3,958			668			166			6,978
Intangibles amortization	—			10,546			—			3			10,549
Capital expenditures	1,929			5,716			799			71			8,515
Assets (as of March 31)	101,299			513,941			48,156			22,863			686,259
FY14
Revenues	82,833			753,525			99,320			35,996			971,674
Gross profit	34,624			219,337			42,052			7,569			303,582
Operating income (loss) 2 3	(37,785		)	(50,740		)	(14,847		)	(5,020		)	(108,392		)
Depreciation expense	1,910			3,501			598			178			6,187
Intangibles amortization	—			12,006			—			18			12,024
Capital expenditures	2,899			3,820			443			176			7,338
Assets (as of March 31)	92,704			532,756			52,432			34,137			712,029
FY13
Revenues	87,089			775,868			99,194			35,635			997,786
Gross profit	38,367			228,503			44,040			9,020			319,930
Operating income (loss) 4	8,995			38,418			6,954			1,902			56,269
Depreciation expense	1,237			3,466			526			157			5,386
Intangibles amortization	—			13,713			—			24			13,737
Capital expenditures	2,824			2,310			1,017			172			6,323
Assets (as of March 31)	131,762			646,119			70,238			29,882			878,001

¹ Includes restructuring expense of $6,854 ($215 for North America Products, $3,898 for North America Services, $2,260 for International Products and $481 for International Services) recorded during Fiscal 2015.

² These results reflect a reclassification of expense that reduced Operating income (loss) in North America Products by $1,218 and $1,686 in Fiscal 2015 and Fiscal 2014, respectively, with a corresponding increase of the same amounts for Operating income (loss) in North America Services. This reclassification had no effect on our consolidated financial results.

³Includes restructuring expense of $3,440 ($308 for North America Products, $1,958 for North America Services, $594 for International Products and $580 for International Services) and goodwill impairment loss of $154,429 ($42,613 for North America Products, $86,904 for North America Services, $20,159 for International Products and $4,753 for International Services) recorded during Fiscal 2014.

⁴ Includes restructuring expense of $8,445 ($688 for North America Products, $5,578 for North America Services, $1,879 for International Products and $300 for International Services) recorded during Fiscal 2013.

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Derivative Instruments and Hedging Activities (Effect on Consolidated Balance Sheets) (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Derivatives designated as hedging instruments | Foreign currency contracts | Other liabilities (current)
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 4,959	$ 358
Derivatives designated as hedging instruments | Foreign currency contracts | Other assets (current)
Derivatives, Fair Value [Line Items]
Asset Derivatives	402	478
Derivatives not designated as hedging instruments | Interest-rate swaps | Other liabilities (current)
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 400	$ 1,547

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Segment Reporting (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Mar. 31, 2015	Dec. 27, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 31, 2014	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 31, 2015		Mar. 31, 2014		Mar. 31, 2013
Segment Reporting Information [Line Items]
Revenues	$ 245,051	$ 253,294	$ 248,873	$ 245,226	$ 238,278	$ 239,689	$ 246,810	$ 246,897	$ 992,444		$ 971,674		$ 997,786
Gross profit	76,536	76,795	73,709	75,229	75,639	73,784	77,128	77,031	302,269		303,582		319,930
Operating income (loss)	3,957	9,003	7,050	8,564	(144,868)	10,495	13,529	12,452	28,574	[1],[2]	(108,392)	[1],[3]	56,269	[4]
Depreciation expense									6,978		6,187		5,386
Intangibles amortization	2,609	2,647	2,643	2,650	2,683	2,923	3,109	3,309	10,549		12,024		13,737
Capital expenditures									8,515		7,338		6,323
Assets	686,259				712,029				686,259		712,029		878,001
Restructuring expense	4,139	967	1,132	616	1,734	833	734	139	6,854		3,440		8,445
Goodwill impairment loss					154,429	0	0	0	0		154,429		0
Operating Segments | North America Products
Segment Reporting Information [Line Items]
Revenues									85,205		82,833		87,089
Gross profit									36,082		34,624		38,367
Operating income (loss)									4,564	[1],[2]	(37,785)	[1],[3]	8,995	[4]
Depreciation expense									2,186		1,910		1,237
Intangibles amortization									0		0		0
Capital expenditures									1,929		2,899		2,824
Assets	101,299				92,704				101,299		92,704		131,762
Restructuring expense									215		308		688
Goodwill impairment loss											42,613
Operating Segments | North America Services
Segment Reporting Information [Line Items]
Revenues									785,681		753,525		775,868
Gross profit									220,469		219,337		228,503
Operating income (loss)									22,195	[1],[2]	(50,740)	[1],[3]	38,418	[4]
Depreciation expense									3,958		3,501		3,466
Intangibles amortization									10,546		12,006		13,713
Capital expenditures									5,716		3,820		2,310
Assets	513,941				532,756				513,941		532,756		646,119
Restructuring expense									3,898		1,958		5,578
Goodwill impairment loss											86,904
Operating Segments | International Products
Segment Reporting Information [Line Items]
Revenues									91,614		99,320		99,194
Gross profit									37,662		42,052		44,040
Operating income (loss)									(277)	[1],[2]	(14,847)	[1],[3]	6,954	[4]
Depreciation expense									668		598		526
Intangibles amortization									0		0		0
Capital expenditures									799		443		1,017
Assets	48,156				52,432				48,156		52,432		70,238
Restructuring expense									2,260		594		1,879
Goodwill impairment loss											20,159
Operating Segments | International Services
Segment Reporting Information [Line Items]
Revenues									29,944		35,996		35,635
Gross profit									8,056		7,569		9,020
Operating income (loss)									2,092	[1],[2]	(5,020)	[1],[3]	1,902	[4]
Depreciation expense									166		178		157
Intangibles amortization									3		18		24
Capital expenditures									71		176		172
Assets	22,863				34,137				22,863		34,137		29,882
Restructuring expense									481		580		300
Goodwill impairment loss											4,753
Intersegment Eliminations [Member] | North America Products
Segment Reporting Information [Line Items]
Operating income (loss)									(1,218)		(1,686)
Intersegment Eliminations [Member] | North America Services
Segment Reporting Information [Line Items]
Operating income (loss)									1,218		1,686
United States Federal Government
Segment Reporting Information [Line Items]
Revenues									$ 127,826		$ 161,154		$ 159,438

[1] These results reflect a reclassification of expense that reduced Operating income (loss) in North America Products by $1,218 and $1,686 in Fiscal 2015 and Fiscal 2014, respectively, with a corresponding increase of the same amounts for Operating income (loss) in North America Services. This reclassification had no effect on our consolidated financial results.

[2] Includes restructuring expense of $6,854 ($215 for North America Products, $3,898 for North America Services, $2,260 for International Products and $481 for International Services) recorded during Fiscal 2015.

[3] Includes restructuring expense of $3,440 ($308 for North America Products, $1,958 for North America Services, $594 for International Products and $580 for International Services) and goodwill impairment loss of $154,429 ($42,613 for North America Products, $86,904 for North America Services, $20,159 for International Products and $4,753 for International Services) recorded during Fiscal 2014.

[4] Includes restructuring expense of $8,445 ($688 for North America Products, $5,578 for North America Services, $1,879 for International Products and $300 for International Services) recorded during Fiscal 2013.

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Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Assets
Cash and cash equivalents	$ 23,534	$ 30,810
Accounts receivable, net of allowance for doubtful accounts of $5,109 and $6,004	150,562	156,549
Inventories, net	54,437	52,211
Costs/estimated earnings in excess of billings on uncompleted contracts	79,329	89,789
Other assets	35,475	26,974
Total current assets	343,337	356,333
Property, plant and equipment, net	32,247	29,052
Goodwill, net	191,178	192,954
Intangibles, net	88,098	98,645
Other assets	31,399	35,045
Total assets	686,259	712,029
Liabilities
Accounts payable	64,509	64,603
Accrued compensation and benefits	24,817	26,075
Deferred revenue	34,913	33,847
Billings in excess of costs/estimated earnings on uncompleted contracts	16,380	15,932
Other liabilities	47,100	40,184
Total current liabilities	187,719	180,641
Long-term debt	137,267	160,429
Other liabilities	24,162	19,842
Total liabilities	349,148	360,912
Stockholders’ equity
Preferred stock authorized 5,000, par value $1.00, none issued	0	0
Common stock authorized 100,000, par value $.001, 15,365 and 15,558 shares outstanding, 26,305 and 26,136 issued	26	26
Additional paid-in capital	498,052	492,427
Retained earnings	258,388	249,217
Accumulated other comprehensive income	(13,399)	7,327
Treasury stock, at cost 10,940 and 10,578 shares	(405,956)	(397,880)
Total stockholders’ equity	337,111	351,117
Total liabilities and stockholders’ equity	$ 686,259	$ 712,029

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Goodwill (Details) (USD $)	3 Months Ended				12 Months Ended			6 Months Ended
	Mar. 31, 2014	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013	Sep. 27, 2014
Goodwill [Roll Forward]
Goodwill (gross), beginning				$ 663,194,000	$ 665,180,000	$ 663,194,000		$ 665,180,000
Accumulated impairment losses, beginning				(317,797,000)	(472,226,000)	(317,797,000)		(472,226,000)
Goodwill (net), beginning				345,397,000	192,954,000	345,397,000		192,954,000
Foreign currency translation adjustment					(1,776,000)	1,986,000
Goodwill impairment loss	(154,429,000)	0	0	0	0	(154,429,000)	0
Goodwill (gross), ending	665,180,000				663,404,000	665,180,000	663,194,000
Accumulated impairment losses, ending	(472,226,000)				(472,226,000)	(472,226,000)	(317,797,000)
Goodwill (net), ending	192,954,000				191,178,000	192,954,000	345,397,000
Operating Segments | North America Products
Goodwill [Roll Forward]
Goodwill (gross), beginning				79,763,000	79,749,000	79,763,000		79,749,000
Accumulated impairment losses, beginning				(232,000)	(42,845,000)	(232,000)		(42,845,000)
Goodwill (net), beginning				79,531,000	36,904,000	79,531,000		36,904,000
Foreign currency translation adjustment					(4,000)	(14,000)
Goodwill impairment loss						(42,613,000)
Excess of fair value over adjusted carrying value	24,909,000					24,909,000		23,061,000
Effect on fair value of reporting units of 100 basis point increase in WACC						8,911,000		8,629,000
Goodwill (gross), ending	79,749,000				79,745,000	79,749,000
Accumulated impairment losses, ending	(42,845,000)				(42,845,000)	(42,845,000)
Goodwill (net), ending	36,904,000				36,900,000	36,904,000
Operating Segments | North America Services
Goodwill [Roll Forward]
Goodwill (gross), beginning				506,222,000	506,281,000	506,222,000		506,281,000
Accumulated impairment losses, beginning				(277,132,000)	(364,036,000)	(277,132,000)		(364,036,000)
Goodwill (net), beginning				229,090,000	142,245,000	229,090,000		142,245,000
Foreign currency translation adjustment					(10,000)	59,000
Goodwill impairment loss						(86,904,000)
Excess of fair value over adjusted carrying value	51,957,000				14,963,000	51,957,000		68,364,000
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount					7.00%			31.00%
Effect on fair value of reporting units of 100 basis point increase in WACC						39,375,000		41,488,000
Goodwill (gross), ending	506,281,000				506,271,000	506,281,000
Accumulated impairment losses, ending	(364,036,000)				(364,036,000)	(364,036,000)
Goodwill (net), ending	142,245,000				142,235,000	142,245,000
Operating Segments | International Products
Goodwill [Roll Forward]
Goodwill (gross), beginning				38,524,000	39,024,000	38,524,000		39,024,000
Accumulated impairment losses, beginning				(13,724,000)	(33,883,000)	(13,724,000)		(33,883,000)
Goodwill (net), beginning				24,800,000	5,141,000	24,800,000		5,141,000
Foreign currency translation adjustment					193,000	500,000
Goodwill impairment loss						(20,159,000)
Excess of fair value over adjusted carrying value	16,430,000					16,430,000		14,839,000
Effect on fair value of reporting units of 100 basis point increase in WACC						3,333,000		2,998,000
Goodwill (gross), ending	39,024,000				39,217,000	39,024,000
Accumulated impairment losses, ending	(33,883,000)				(33,883,000)	(33,883,000)
Goodwill (net), ending	5,141,000				5,334,000	5,141,000
Operating Segments | International Services
Goodwill [Roll Forward]
Goodwill (gross), beginning				38,685,000	40,126,000	38,685,000		40,126,000
Accumulated impairment losses, beginning				(26,709,000)	(31,462,000)	(26,709,000)		(31,462,000)
Goodwill (net), beginning				11,976,000	8,664,000	11,976,000		8,664,000
Foreign currency translation adjustment					(1,955,000)	1,441,000
Goodwill impairment loss						(4,753,000)
Excess of fair value over adjusted carrying value	1,859,000					1,859,000		1,411,000
Effect on fair value of reporting units of 100 basis point increase in WACC						1,402,000		1,265,000
Goodwill (gross), ending	40,126,000				38,171,000	40,126,000
Accumulated impairment losses, ending	(31,462,000)				(31,462,000)	(31,462,000)
Goodwill (net), ending	$ 8,664,000				$ 6,709,000	$ 8,664,000

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Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Pension
Actuarial gain (loss), taxes	$ (1,950)	$ 962	$ (692)
Actuarial gain (loss) reclassified into results of operations, taxes	112	185	104
Derivative instruments
Net change in fair value of cash flow hedges, taxes	(154)	(744)	(142)
Amounts reclassified into results of operations, taxes	$ 187	$ 692	$ 136

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Income Taxes (Schedule of Effective Income Tax Reconciliation) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Mar. 31, 2015	Dec. 27, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 31, 2014	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Federal statutory tax rate									$ 8,256	$ (39,983)	$ 16,262
Foreign taxes, net of foreign tax credits									(418)	776	(1,343)
Non-deductible expenses									(338)	(317)	(434)
State income taxes, net of federal benefit									1,082	211	1,343
International legal entity restructuring									(1,574)	0	0
Permanent book/tax differences									0	40,222	0
Equity awards									1,940	1,626	1,531
Other, net									(702)	(898)	298
Total provision (benefit) for income taxes	$ (372)	$ 2,447	$ 2,640	$ 3,531	$ (11,050)	$ 2,523	$ 5,656	$ 4,508	$ 8,246	$ 1,637	$ 17,657
Effective Income Tax Rate Reconciliation, Percent (%) [Abstract]
Federal statutory tax rate									35.00%	35.00%	35.00%
Foreign taxes, net of foreign tax credits									(1.80%)	(0.70%)	(2.90%)
Non-deductible expenses									(1.40%)	0.30%	(0.90%)
State income taxes, net of federal benefit									4.60%	(0.20%)	2.90%
International legal entity restructuring									(6.60%)	0.00%	0.00%
Permanent book/tax differences									0.00%	(35.20%)	0.00%
Equity awards									8.20%	(1.40%)	3.30%
Other, net									(3.00%)	0.80%	0.60%
Effective tax rate									35.00%	(1.40%)	38.00%

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Income Taxes (Tables)

12 Months Ended

Mar. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The domestic and foreign components of Income (loss) before provision (benefit) for income taxes are as follows:

	Fiscal
	2015		2014			2013
Domestic	$	17,865	$	(100,786	)	$	34,597
Foreign	5,723		(13,450		)	11,866
Consolidated	$	23,588	$	(114,236	)	$	46,463

Schedule of Components of Income Tax Expense (Benefit)

The provision/(benefit) for income taxes consists of the following:

	Fiscal
	2015		2014			2013
Current
Federal	$	279	$	6,376		$	8,877
State	1,259		2,112			2,203
Foreign	2,052		1,821			2,433
Total current	3,590		10,309			13,513
Deferred	4,656		(8,672		)	4,144
Total provision (benefit) for income taxes	$	8,246	$	1,637		$	17,657

Schedule of Effective Income Tax Rate Reconciliation

Reconciliations between income taxes computed using the federal statutory income tax rate and the Company’s effective tax rate are as follows:

	Fiscal
	2015					2014					2013
	$			%		$			%		$			%
Federal statutory tax rate	$	8,256		35.0	%	$	(39,983	)	35.0	%	$	16,262		35.0	%
Foreign taxes, net of foreign tax credits	(418		)	(1.8	)	776			(0.7	)	(1,343		)	(2.9	)
Non-deductible expenses	(338		)	(1.4	)	(317		)	0.3		(434		)	(0.9	)
State income taxes, net of federal benefit	1,082			4.6		211			(0.2	)	1,343			2.9
International legal entity restructuring	(1,574		)	(6.6	)	—			—		—			—
Permanent book/tax differences	—			—		40,222			(35.2	)	—			—
Equity awards	1,940			8.2		1,626			(1.4	)	1,531			3.3
Other, net	(702		)	(3.0	)	(898		)	0.8		298			0.6
Effective tax rate	$	8,246		35.0	%	$	1,637		(1.4	)%	$	17,657		38.0	%

Schedule of Deferred Tax Assets and Liabilities

The components of current and long-term deferred tax liabilities/assets are as follows:

	March 31,
	2015			2014
Deferred Tax Liabilities
Goodwill and intangibles	$	18,957		$	17,251
Unremitted earnings of foreign subsidiaries	3			397
Other	1,428			256
Gross deferred tax liabilities	20,388			17,904
Deferred Tax Assets
Net operating losses	27,342			29,455
Basis of finished goods inventory	6,498			6,299
Reserve for bad debts	960			1,193
Foreign tax credit carry-forwards	1,596			195
Accrued employee costs	10,178			8,609
Stock-based compensation	6,141			8,712
Other	2,103			2,836
Gross deferred tax assets	54,818			57,299
Valuation allowance	(3,518		)	(3,518		)
Net deferred tax assets	51,300			53,781
Net deferred tax assets/(liabilities)	$	30,912		$	35,877

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the change in the tax liability for unrecognized tax benefits is as follows:

	Fiscal
	2015			2014			2013
Balance at beginning of year	$	4,384		$	5,340		$	5,204
Additions for tax positions related to the current year	62			193			465
Additions for tax positions related to prior years	170			209			213
Reductions for tax positions related to prior years	—			(896		)	(542		)
Settlements	(533		)	(462		)	—
Balance at end of year	$	4,083		$	4,384		$	5,340

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Incentive Compensation Plans (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Performance bonus expense	$ 6,841	$ 3,777	$ 3,697
Profit Share and Savings Plans [Abstract]
Defined contribution plan expense	2,609	2,452	2,504
Pension Plans [Abstract]
Defined benefit plan, contributions	1,711	2,973	3,406
Defined benefit plan, assets	35,671	34,229	29,884
Defined benefit plan, benefit obligation	52,059	47,192	48,016
Defined benefit plan, unfunded status	16,388	12,963	18,132
Share-based compensation expense	6,009	6,589	7,712
Income tax benefit for stock-based compensation arrangments	$ 2,191	$ 2,404	$ 2,814

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Earnings (loss) Per Share

12 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings (loss) Per Share

Earnings (loss) Per Share

The following table details the computation of basic and diluted earnings (loss) per common share from continuing operations for the periods presented (share numbers in thousands):

	Fiscal
	2015		2014			2013
Net income (loss)	$	15,342	$	(115,873	)	$	28,806
Weighted-average common shares outstanding (basic)	15,407		15,813			16,627
Effect of dilutive securities from equity awards	76		—			62
Weighted-average common shares outstanding (diluted)	15,483		15,813			16,689
Basic earnings (loss) per common share	$	1.00	$	(7.33	)	$	1.73
Dilutive earnings (loss) per common share	$	0.99	$	(7.33	)	$	1.73

The Weighted-average common shares outstanding (diluted) computation is not impacted during any period where the exercise price of a stock option is greater than the average market price. There were 1,851,059, 2,017,805 and 2,648,137 non-dilutive equity awards outstanding during Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively, that are not included in the corresponding period Weighted-average common shares outstanding (diluted) computation.

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Stockholder's Equity (Tables)

12 Months Ended

Mar. 31, 2015

Stockholders' Equity Note [Abstract]

Schedule of Dividends

The following table presents information about the Company's dividend program:

Period	Record Date	Payment Date	Rate		Aggregate Value
4Q15	March 31, 2015	April 15, 2015	$	0.10	$	1,537
3Q15	December 26, 2014	January 9, 2015	$	0.10	$	1,536
2Q15	September 26, 2014	October 10, 2014	$	0.10	$	1,544
1Q15	June 27, 2014	July 11, 2014	$	0.10	$	1,554
4Q14	March 31, 2014	April 11, 2014	$	0.09	$	1,400
3Q14	December 27, 2013	January 10, 2014	$	0.09	$	1,410
2Q14	September 27, 2013	October 11, 2013	$	0.09	$	1,430
1Q14	June 28, 2013	July 12, 2013	$	0.09	$	1,445
4Q13	March 29, 2013	April 12, 2013	$	0.08	$	1,291
3Q13	December 28, 2012	January 11, 2013	$	0.08	$	1,304
2Q13	September 28, 2012	October 12, 2012	$	0.08	$	1,323
1Q13	June 29, 2012	July 13, 2012	$	0.08	$	1,355

Schedule of Common Stock Repurchases

The following table presents information about the Company's common stock repurchases:

	Fiscal
	2015		2014
Common stock purchased	361,180		813,180
Aggregate purchase price	$	8,076	$	21,794
Average purchase price	$	22.36	$	26.80

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Quarterly Data (Unaudited)

12 Months Ended

Mar. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Quarterly Data (Unaudited)

Quarterly Data (Unaudited)

The following tables represent summary Quarterly (Unaudited) Consolidated Statements of Operations for Fiscal 2015 and Fiscal 2014. Earnings (loss) per common share may not compute due to the use of different quarterly/annual basic and diluted shares.

	Fiscal 2015
Unaudited	1Q			2Q		3Q		4Q			FY
Revenues
Total Products	$	43,219		$	44,549	$	46,616	$	42,435		$	176,819
Total Services	202,007			204,324		206,678		202,616			815,625
Total	245,226			248,873		253,294		245,051			992,444
Cost of sales
Total Products	25,271			25,943		27,930		23,931			103,075
Total Services	144,726			149,221		148,569		144,584			587,100
Total	169,997			175,164		176,499		168,515			690,175
Gross profit	75,229			73,709		76,795		76,536			302,269
Selling, general & administrative expenses 1	64,015			64,016		65,145		69,970			263,146
Intangibles amortization	2,650			2,643		2,647		2,609			10,549
Operating income (loss)	8,564			7,050		9,003		3,957			28,574
Interest expense, net	1,131			1,027		1,170		1,088			4,416
Other expenses (income), net	(41		)	180		112		319			570
Income (loss) before provision for income taxes	7,474			5,843		7,721		2,550			23,588
Provision (benefit) for income taxes	3,531			2,640		2,447		(372		)	8,246
Net income (loss)	$	3,943		$	3,203	$	5,274	$	2,922		$	15,342
Earnings (loss) per common share
Basic	$	0.25		$	0.21	$	0.34	$	0.19		$	1.00
Diluted	$	0.25		$	0.21	$	0.34	$	0.19		$	0.99

¹ Includes restructuring expense of $616, $1,132, $967 and $4,139 for 1Q15, 2Q15, 3Q15 and 4Q15, respectively.

	Fiscal 2014
Unaudited	1Q		2Q		3Q		4Q			FY
Revenues
Total Products	$	48,208	$	43,191	$	44,528	$	46,226		$	182,153
Total Services	198,689		203,619		195,161		192,052			789,521
Total	246,897		246,810		239,689		238,278			971,674
Cost of sales
Total Products	28,495		24,249		25,754		26,979			105,477
Total Services	141,371		145,433		140,151		135,660			562,615
Total	169,866		169,682		165,905		162,639			668,092
Gross profit	77,031		77,128		73,784		75,639			303,582
Selling, general & administrative expenses 1	61,270		60,490		60,366		63,395			245,521
Goodwill impairment loss	—		—		—		154,429			154,429
Intangibles amortization	3,309		3,109		2,923		2,683			12,024
Operating income (loss)	12,452		13,529		10,495		(144,868		)	(108,392		)
Interest expense, net	923		1,378		1,230		1,116			4,647
Other expenses (income), net 2	116		910		84		87			1,197
Income (loss) before provision for income taxes	11,413		11,241		9,181		(146,071		)	(114,236		)
Provision (benefit) for income taxes	4,508		5,656		2,523		(11,050		)	1,637
Net income (loss)	$	6,905	$	5,585	$	6,658	$	(135,021	)	$	(115,873	)
Earnings (loss) per common share
Basic	$	0.43	$	0.35	$	0.42	$	(8.65	)	$	(7.33	)
Diluted	$	0.43	$	0.35	$	0.42	$	(8.65	)	$	(7.33	)

¹ Includes restructuring expense of $139, $734, $833 and $1,734 for 1Q14, 2Q14, 3Q14 and 4Q14, respectively.

² Includes a loss of $822 during the second quarter of Fiscal 2014 due to the probable divestiture of our non-controlling interest in GNIS, a joint venture company which was formed in conjunction with Genesis Networks Enterprises, LLC.

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Incentive Compensation Plans (Restricted Stock Units) (Details) (Restricted stock units [Member], USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Stock-based Compensation, Nonvested, Shares (in 000's) [Roll Forward]
March 31, 2014	289
Granted	181
Vested	(168)
Forfeited	(40)
March 31, 2015	262	289
Stock-based Compensation, Nonvested, Weighted Average Grant Date Fair Value (Per Share) [Roll Forward]
March 31, 2014	$ 25.73
Granted	$ 21.79
Vested	$ 25.59
Forfeited	$ 24.05
March 31, 2015	$ 23.34	$ 25.73
Total fair value of shares vested	$ 3,842	$ 4,772	$ 3,674
Total unrecognized pre-tax stock-based compensation expense related to non-vested shares	$ 2,881
Weighted-average period of recognition	1 year 8 months

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Consolidated Statements of Stockholders' Equity (USD $) In Thousands, unless otherwise specified	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income, Foreign Currency Translation Adjustment [Member]	Accumulated Other Comprehensive Income, Derivative Instruments [Member]	Accumulated Other Comprehensive Income, Defined Benefit Pension [Member]	Retained Earnings [Member]
Beginning balance at Mar. 31, 2012	$ 494,384	$ 26	$ (338,872)	$ 478,726	$ 17,046	$ (153)	$ (9,631)	$ 347,242
Beginning balance (in shares) at Mar. 31, 2012		25,730	8,250
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	28,806							28,806
Foreign currency translation adjustment	(4,237)				(4,237)
Pension, net of taxes
Actuarial gain (loss)	(1,823)						(1,823)
Actuarial gain (loss) reclassified into results of operations	273						273
Derivative Instruments, net of taxes
Net change in fair value of cash flow hedges	(375)					(375)
Amounts reclassified into results of operations	357					357
Stock compensation expense	7,712			7,712
Dividends declared	(5,273)							(5,273)
Issuance of common stock	0	0		0
Issuance of common stock (in shares)		168
Repurchases of common stock	(37,214)		(37,214)
Repurchase of common stock (in shares)			1,515
Tax impact from equity awards	(363)			(363)
Ending balance at Mar. 31, 2013	482,247	26	(376,086)	486,075	12,809	(171)	(11,181)	370,775
Ending balance (in shares) at Mar. 31, 2013		25,898	9,765
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(115,873)							(115,873)
Foreign currency translation adjustment	4,288				4,288
Pension, net of taxes
Actuarial gain (loss)	1,386						1,386
Actuarial gain (loss) reclassified into results of operations	283						283
Derivative Instruments, net of taxes
Net change in fair value of cash flow hedges	(1,212)					(1,212)
Amounts reclassified into results of operations	1,125					1,125
Stock compensation expense	6,589			6,589
Dividends declared	(5,685)							(5,685)
Issuance of common stock	0	0		0
Issuance of common stock (in shares)		238
Repurchases of common stock	(21,794)		(21,794)
Repurchase of common stock (in shares)			813
Proceeds from the exercise of stock options	988			988
Tax impact from equity awards	(1,225)			(1,225)
Ending balance at Mar. 31, 2014	351,117	26	(397,880)	492,427	17,097	(258)	(9,512)	249,217
Ending balance (in shares) at Mar. 31, 2014	26,136	26,136	10,578
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	15,342							15,342
Foreign currency translation adjustment	(17,954)				(17,954)
Pension, net of taxes
Actuarial gain (loss)	(2,999)						(2,999)
Actuarial gain (loss) reclassified into results of operations	172						172
Derivative Instruments, net of taxes
Net change in fair value of cash flow hedges	(250)					(250)
Amounts reclassified into results of operations	305					305
Stock compensation expense	6,009			6,009
Dividends declared	(6,171)							(6,171)
Issuance of common stock	0	0		0
Issuance of common stock (in shares)		169
Repurchases of common stock	(8,076)		(8,076)
Repurchase of common stock (in shares)			362
Tax impact from equity awards	(384)			(384)
Ending balance at Mar. 31, 2015	$ 337,111	$ 26	$ (405,956)	$ 498,052	$ (857)	$ (203)	$ (12,339)	$ 258,388
Ending balance (in shares) at Mar. 31, 2015	26,305	26,305	10,940

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Consolidated Balance Sheets (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 5,109	$ 6,004
Preferred stock, par value	$ 1.00	$ 1.00
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares outstanding	15,365,000	15,558,000
Common stock, shares issued	26,305,000	26,136,000
Treasury stock, shares	10,940,000	10,578,000

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Fair Value Disclosures

12 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value Disclosures

Fair Value Disclosures

Recurring fair value measurements

The following table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2015, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value.

	Level 1		Level 2		Level 3		Total
Assets at Fair Value
Defined benefit pension plan assets	$	12,950	$	22,721	$	—	$	35,671
Foreign currency contracts	$	—	$	402	$	—	$	402
Total Assets at Fair Value	$	12,950	$	23,123	$	—	$	36,073
Liabilities at Fair Value
Foreign currency contracts	$	—	$	4,959	$	—	$	4,959
Interest-rate swap	$	—	$	400	$	—	$	400
Total Liabilities at Fair Value	$	—	$	5,359	$	—	$	5,359

Non-recurring fair value measurements

The Company’s assets and liabilities that are measured at fair value on a non-recurring basis include non-financial assets and liabilities initially measured at fair value in a business combination and Goodwill. As disclosed in Note 5, the Company reduced the book value of Goodwill to the implied fair value in Fiscal 2014. The Company utilized level 3 inputs to measure the fair value of Goodwill. See Note 2 for additional reference.

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Document and Entity Information (USD $)	12 Months Ended
	Mar. 31, 2015	Apr. 20, 2015	Sep. 26, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	BLACK BOX CORP
Entity Central Index Key	0000849547
Document Type	10-K
Document Period End Date	Mar. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		15,365,280
Entity Public Float			$ 364,552,160

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Income Taxes

12 Months Ended

Mar. 31, 2015

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The domestic and foreign components of Income (loss) before provision (benefit) for income taxes are as follows:

	Fiscal
	2015		2014			2013
Domestic	$	17,865	$	(100,786	)	$	34,597
Foreign	5,723		(13,450		)	11,866
Consolidated	$	23,588	$	(114,236	)	$	46,463

The provision/(benefit) for income taxes consists of the following:

	Fiscal
	2015		2014			2013
Current
Federal	$	279	$	6,376		$	8,877
State	1,259		2,112			2,203
Foreign	2,052		1,821			2,433
Total current	3,590		10,309			13,513
Deferred	4,656		(8,672		)	4,144
Total provision (benefit) for income taxes	$	8,246	$	1,637		$	17,657

Reconciliations between income taxes computed using the federal statutory income tax rate and the Company’s effective tax rate are as follows:

	Fiscal
	2015					2014					2013
	$			%		$			%		$			%
Federal statutory tax rate	$	8,256		35.0	%	$	(39,983	)	35.0	%	$	16,262		35.0	%
Foreign taxes, net of foreign tax credits	(418		)	(1.8	)	776			(0.7	)	(1,343		)	(2.9	)
Non-deductible expenses	(338		)	(1.4	)	(317		)	0.3		(434		)	(0.9	)
State income taxes, net of federal benefit	1,082			4.6		211			(0.2	)	1,343			2.9
International legal entity restructuring	(1,574		)	(6.6	)	—			—		—			—
Permanent book/tax differences	—			—		40,222			(35.2	)	—			—
Equity awards	1,940			8.2		1,626			(1.4	)	1,531			3.3
Other, net	(702		)	(3.0	)	(898		)	0.8		298			0.6
Effective tax rate	$	8,246		35.0	%	$	1,637		(1.4	)%	$	17,657		38.0	%

The effective tax rate of 35.0% for Fiscal 2015 was primarily due to a tax benefit from an international legal entity restructuring which was partially offset by the write-off of certain deferred tax assets related to equity awards. The effective tax rate of (1.4)% for Fiscal 2014 was primarily due to $114,920 of non-deductible goodwill impairment loss (see Note 5), a decrease in uncertain income tax positions (including interest and penalties) and the benefit associated with the Fiscal 2013 federal return to provision reconciliation partially offset by the write-off of certain deferred tax assets related to equity awards.

The components of current and long-term deferred tax liabilities/assets are as follows:

	March 31,
	2015			2014
Deferred Tax Liabilities
Goodwill and intangibles	$	18,957		$	17,251
Unremitted earnings of foreign subsidiaries	3			397
Other	1,428			256
Gross deferred tax liabilities	20,388			17,904
Deferred Tax Assets
Net operating losses	27,342			29,455
Basis of finished goods inventory	6,498			6,299
Reserve for bad debts	960			1,193
Foreign tax credit carry-forwards	1,596			195
Accrued employee costs	10,178			8,609
Stock-based compensation	6,141			8,712
Other	2,103			2,836
Gross deferred tax assets	54,818			57,299
Valuation allowance	(3,518		)	(3,518		)
Net deferred tax assets	51,300			53,781
Net deferred tax assets/(liabilities)	$	30,912		$	35,877

The net deferred tax asset of $30,912 in the table above is classified as either current or non-current under Other assets within the Company's Consolidated Balance Sheets. At March 31, 2015, the Company had $41,769, $107,498 and $23,863 of federal, state and foreign gross net operating loss carry-forwards, respectively. As a result of the Company’s acquisitions of InnerWireless and ACS Communications, Inc., Section 382 of the Internal Revenue Code of 1986, as amended (the "Code"), limits the amount of net operating losses available to the Company to approximately $6,178 per year. The federal gross net operating loss carry-forwards expire in Fiscal 2031. The state gross net operating loss carry-forwards expire at various times through Fiscal 2035 and the foreign gross net operating loss carry-forwards expire at various times through Fiscal 2025, with the exception of $164 for Austria, $580 for Belgium and $9,498 for Brazil, which have no expirations.

A valuation allowance is provided when it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company has recorded a valuation allowance of $3,518 for certain state and foreign net operating loss carry-forwards anticipated to produce no tax benefit.

In general, except for certain earnings associated with inter-company loan balances, it is the Company’s intention to reinvest all undistributed earnings of non-U.S. subsidiaries for an indefinite period of time. Therefore, except for the exceptions noted above, no deferred U.S. income taxes have been provided on undistributed earnings of non-U.S. subsidiaries, which aggregate approximately $7,577 based on exchange rates at March 31, 2015.

A reconciliation of the change in the tax liability for unrecognized tax benefits is as follows:

	Fiscal
	2015			2014			2013
Balance at beginning of year	$	4,384		$	5,340		$	5,204
Additions for tax positions related to the current year	62			193			465
Additions for tax positions related to prior years	170			209			213
Reductions for tax positions related to prior years	—			(896		)	(542		)
Settlements	(533		)	(462		)	—
Balance at end of year	$	4,083		$	4,384		$	5,340

Unrecognized tax benefits are classified as either current or non-current under Other liabilities within the Company's Consolidated Balance Sheets. Of the $4,083 noted above, the Company expects that $234 will reverse in the next twelve-months. As of March 31, 2015, 2014 and 2013, the Company recorded $1,065, $1,114 and $1,001, respectively, of interest and penalties related to uncertain tax positions in current liabilities within Income taxes, all of which impacted the Company's effective tax rate.

During Fiscal 2013 the Internal Revenue Service ("IRS") commenced an examination of the Company's United States federal income tax return for Fiscal 2011 and 2012. During Fiscal 2014, the IRS concluded its examination with no proposed adjustments for Fiscal 2011 and Fiscal 2012.

Fiscal 2013 through Fiscal 2015 remains open to examination by the IRS and Fiscal 2010 through Fiscal 2014 remain open to examination by certain state and foreign taxing jurisdictions.

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Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Mar. 31, 2015		Mar. 31, 2014		Mar. 31, 2013
Revenues
Total Products	$ 176,819		$ 182,153		$ 186,283
Total Services	815,625		789,521		811,503
Total	992,444		971,674		997,786
Cost of sales
Total Products	103,075	[1]	105,477	[1]	103,876	[1]
Total Services	587,100	[1]	562,615	[1]	573,980	[1]
Total	690,175	[1]	668,092	[1]	677,856	[1]
Gross profit	302,269		303,582		319,930
Selling, general & administrative expenses	263,146	[2]	245,521	[3]	249,924
Goodwill impairment loss	0		154,429		0
Intangibles amortization	10,549		12,024		13,737
Operating income (loss)	28,574	[4],[5]	(108,392)	[4],[6]	56,269	[7]
Interest expense, net	4,416		4,647		6,090
Other expenses (income), net	570		1,197	[8]	3,716
Income (loss) before provision for income taxes	23,588		(114,236)		46,463
Provision (benefit) for income taxes	8,246		1,637		17,657
Net income (loss)	$ 15,342		$ (115,873)		$ 28,806
Earnings (loss) per common share
Basic	$ 1.00		$ (7.33)		$ 1.73
Diluted	$ 0.99		$ (7.33)		$ 1.73
Weighted-average common shares outstanding
Basic	15,407		15,813		16,627
Diluted	15,483		15,813		16,689
Dividends per share	$ 0.40		$ 0.36		$ 0.32

[1] Exclusive of depreciation and intangibles amortization.

[2] Includes restructuring expense of $616, $1,132, $967 and $4,139 for 1Q15, 2Q15, 3Q15 and 4Q15, respectively.

[3] Includes restructuring expense of $139, $734, $833 and $1,734 for 1Q14, 2Q14, 3Q14 and 4Q14, respectively.

[4] These results reflect a reclassification of expense that reduced Operating income (loss) in North America Products by $1,218 and $1,686 in Fiscal 2015 and Fiscal 2014, respectively, with a corresponding increase of the same amounts for Operating income (loss) in North America Services. This reclassification had no effect on our consolidated financial results.

[5] Includes restructuring expense of $6,854 ($215 for North America Products, $3,898 for North America Services, $2,260 for International Products and $481 for International Services) recorded during Fiscal 2015.

[6] Includes restructuring expense of $3,440 ($308 for North America Products, $1,958 for North America Services, $594 for International Products and $580 for International Services) and goodwill impairment loss of $154,429 ($42,613 for North America Products, $86,904 for North America Services, $20,159 for International Products and $4,753 for International Services) recorded during Fiscal 2014.

[7] Includes restructuring expense of $8,445 ($688 for North America Products, $5,578 for North America Services, $1,879 for International Products and $300 for International Services) recorded during Fiscal 2013.

[8] Includes a loss of $822 during the second quarter of Fiscal 2014 due to the probable divestiture of our non-controlling interest in GNIS, a joint venture company which was formed in conjunction with Genesis Networks Enterprises, LLC.

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Property, Plant and Equipment

12 Months Ended

Mar. 31, 2015

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, Plant and Equipment

The Company’s Property, plant and equipment consist of the following:

	March 31,
	2015			2014
Land	$	2,396		$	2,396
Building and improvements	31,367			31,384
Equipment and computer hardware and software	77,458			71,366
Property, plant and equipment, gross	111,221			105,146
Accumulated depreciation	(78,974		)	(76,094		)
Property, plant and equipment, net	$	32,247		$	29,052

Depreciation expense was $6,978, $6,187 and $5,386 for Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively.

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Inventories

12 Months Ended

Mar. 31, 2015

Inventory Disclosure [Abstract]

Inventories

Inventories

The Company’s Inventories consist of the following:

	March 31,
	2015			2014
Raw materials	$	1,674		$	1,294
Finished goods	69,387			68,303
Inventory, gross	71,061			69,597
Excess and obsolete inventory reserves	(16,624		)	(17,386		)
Inventories, net	$	54,437		$	52,211

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Segment Reporting

12 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

The Company conducts business globally and is managed on a geographic-service type basis consisting of four operating segments which are (i) North America Products, (ii) North America Services, (iii) International Products and (iv) International Services. These operating segments are also the Company's reporting units for purposes of testing goodwill for impairment and its reporting segments for financial reporting purposes. Revenues within our North America segments are primarily attributed to the United States while revenues within our International segments are attributed to countries in Europe, the Pacific Rim and Latin America. For the past several years and through Fiscal 2013, the Company was organized on a geographic-basis with the following three segments: (i) North America, (ii) Europe and (iii) All Other. As a result of this segment change, which became effective on April 1, 2013 on a prospective basis, the Company has restated prior periods to conform to the current year's presentation.

The accounting policies of the operating segments are the same as those of the Company. The Company allocates resources to its operating segments and evaluates the performance of the operating segments based upon operating income.

The financial results for the Company's reporting segments are as follows:

	North America Products			North America Services			International Products			International Services			Total
FY15
Revenues	$	85,205		$	785,681		$	91,614		$	29,944		$	992,444
Gross profit	36,082			220,469			37,662			8,056			302,269
Operating income (loss) 1 2	4,564			22,195			(277		)	2,092			28,574
Depreciation expense	2,186			3,958			668			166			6,978
Intangibles amortization	—			10,546			—			3			10,549
Capital expenditures	1,929			5,716			799			71			8,515
Assets (as of March 31)	101,299			513,941			48,156			22,863			686,259
FY14
Revenues	82,833			753,525			99,320			35,996			971,674
Gross profit	34,624			219,337			42,052			7,569			303,582
Operating income (loss) 2 3	(37,785		)	(50,740		)	(14,847		)	(5,020		)	(108,392		)
Depreciation expense	1,910			3,501			598			178			6,187
Intangibles amortization	—			12,006			—			18			12,024
Capital expenditures	2,899			3,820			443			176			7,338
Assets (as of March 31)	92,704			532,756			52,432			34,137			712,029
FY13
Revenues	87,089			775,868			99,194			35,635			997,786
Gross profit	38,367			228,503			44,040			9,020			319,930
Operating income (loss) 4	8,995			38,418			6,954			1,902			56,269
Depreciation expense	1,237			3,466			526			157			5,386
Intangibles amortization	—			13,713			—			24			13,737
Capital expenditures	2,824			2,310			1,017			172			6,323
Assets (as of March 31)	131,762			646,119			70,238			29,882			878,001

¹ Includes restructuring expense of $6,854 ($215 for North America Products, $3,898 for North America Services, $2,260 for International Products and $481 for International Services) recorded during Fiscal 2015.

² These results reflect a reclassification of expense that reduced Operating income (loss) in North America Products by $1,218 and $1,686 in Fiscal 2015 and Fiscal 2014, respectively, with a corresponding increase of the same amounts for Operating income (loss) in North America Services. This reclassification had no effect on our consolidated financial results.

³Includes restructuring expense of $3,440 ($308 for North America Products, $1,958 for North America Services, $594 for International Products and $580 for International Services) and goodwill impairment loss of $154,429 ($42,613 for North America Products, $86,904 for North America Services, $20,159 for International Products and $4,753 for International Services) recorded during Fiscal 2014.

⁴ Includes restructuring expense of $8,445 ($688 for North America Products, $5,578 for North America Services, $1,879 for International Products and $300 for International Services) recorded during Fiscal 2013.

The Company generated revenues of $127,826, $161,154 and $159,438 with the United States Federal Government during Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively, all of which is included within the Company's North America Services reportable segment.

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Stockholder's Equity

12 Months Ended

Mar. 31, 2015

Stockholders' Equity Note [Abstract]

Stockholder's Equity

Stockholder's Equity

Dividends

The following table presents information about the Company's dividend program:

Period	Record Date	Payment Date	Rate		Aggregate Value
4Q15	March 31, 2015	April 15, 2015	$	0.10	$	1,537
3Q15	December 26, 2014	January 9, 2015	$	0.10	$	1,536
2Q15	September 26, 2014	October 10, 2014	$	0.10	$	1,544
1Q15	June 27, 2014	July 11, 2014	$	0.10	$	1,554
4Q14	March 31, 2014	April 11, 2014	$	0.09	$	1,400
3Q14	December 27, 2013	January 10, 2014	$	0.09	$	1,410
2Q14	September 27, 2013	October 11, 2013	$	0.09	$	1,430
1Q14	June 28, 2013	July 12, 2013	$	0.09	$	1,445
4Q13	March 29, 2013	April 12, 2013	$	0.08	$	1,291
3Q13	December 28, 2012	January 11, 2013	$	0.08	$	1,304
2Q13	September 28, 2012	October 12, 2012	$	0.08	$	1,323
1Q13	June 29, 2012	July 13, 2012	$	0.08	$	1,355

While the Company expects to continue to declare quarterly dividends, the payment of future dividends is at the discretion of the Board and the timing and amount of any future dividends will depend upon earnings, cash requirements and the financial condition of the Company. Under the Credit Agreement, the Company is permitted to make any distribution or dividend as long as no Event of Default or Potential Default (as defined in the Credit Agreement) shall have occurred and is continuing or shall occur as a result thereof. In addition, no distribution or dividend is permitted under the Credit Agreement if such event would violate a consolidated leverage ratio required to be maintained under the Credit Agreement other than regular quarterly dividends not exceeding $15,000 per year.

Common Stock Repurchases

The following table presents information about the Company's common stock repurchases:

	Fiscal
	2015		2014
Common stock purchased	361,180		813,180
Aggregate purchase price	$	8,076	$	21,794
Average purchase price	$	22.36	$	26.80

We did not repurchase common stock during the fourth quarter of Fiscal 2015 because our leverage ratio was above 3.0 which restricted purchases of our common stock on the open market. During Fiscal 2015, the Company made tax payments of $1,089 and withheld 47,447 shares of common stock, which were designated as treasury shares, at an average price per share of $22.96, in order to satisfy employee income taxes due as a result of the vesting of certain restricted stock units. During Fiscal 2014, the Company made tax payments of $1,520 and withheld 57,913 shares of common stock, which were designated as treasury shares, at an average price per share of $26.24, in order to satisfy employee income taxes due as a result of the vesting of certain restricted stock units and performance shares.

Since the inception of the repurchase program in April 1999 through March 31, 2015, the Company has repurchased 10,727,227 shares of common stock for an aggregate purchase price of $400,360, or an average purchase price per share of $37.32. These shares do not include the treasury shares withheld for tax payments resulting from the vesting of certain restricted stock units and performance shares. As of March 31, 2015, 772,773 shares were available under repurchase programs. Additional repurchases of common stock may occur from time to time depending upon factors such as the Company’s cash flows and general market conditions. There can be no assurance as to the timing or amount of such repurchases. Under the Credit Agreement, the Company is permitted to repurchase its common stock as long as no Event of Default or Potential Default (as defined in the Credit Agreement) shall have occurred and is continuing or shall occur as a result thereof. In addition, no repurchase of common stock under the repurchase program is permitted under the Credit Agreement if the Company's consolidated leverage ratio (based on EBITDA) exceeds 3.0.

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Indebtedness

12 Months Ended

Mar. 31, 2015

Debt Disclosure [Abstract]

Indebtedness

Indebtedness

The Company’s long-term debt consists of the following:

	March 31,
	2015			2014
Revolving credit agreement	$	136,000		$	160,355
Other	2,132			277
Total debt	$	138,132		$	160,632
Less: current portion (included in Other liabilities)	(865		)	(203		)
Long-term debt	$	137,267		$	160,429

On March 23, 2012, the Company entered into a Credit Agreement (the "Credit Agreement") with Citizens Bank of Pennsylvania, as administrative agent, and certain other lender parties. The Credit Agreement expires on March 23, 2017. Borrowings under the Credit Agreement are permitted up to a maximum amount of $400,000, which the Company voluntarily reduced to $300,000 effective as of April 16, 2015, and includes up to $25,000 of swing-line loans and $25,000 of letters of credit. The Company voluntarily reduced the unused commitment of our Credit Agreement by $100,000 in order to reduce our commitment fee costs associated with the unused portion of the line. The Credit Agreement may be increased by the Company up to an additional $100,000 with the approval of the lenders and may be unilaterally and permanently reduced by the Company to not less than the then outstanding amount of all borrowings. Interest on outstanding indebtedness under the Credit Agreement accrues, at the Company’s option, at a rate based on either: (a) the greater of (i) the prime rate per annum of the agent then in effect and (ii) 0.50% plus the rate per annum announced by the Federal Reserve Bank of New York as being the weighted-average of the rates on overnight Federal funds transactions arranged by Federal funds brokers on the previous trading day, in each case plus 0% to 0.75% (determined by a leverage ratio based on the Company’s consolidated Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA")) or (b) a rate per annum equal to the LIBOR rate plus 0.875% to 1.750% (determined by a leverage ratio based on the Company’s consolidated EBITDA). The Credit Agreement requires the Company to maintain compliance with certain non-financial and financial covenants such as leverage and fixed-charge coverage ratios. As of March 31, 2015, the Company was in compliance with all covenants under the Credit Agreement.

The maximum amount of debt outstanding under the Credit Agreement, the weighted-average balance outstanding under the Credit Agreement and the weighted-average interest rate on all outstanding debt for Fiscal 2015 was $206,930, $182,149 and 1.7%, respectively, compared to $208,730, $190,015 and 1.5%, respectively, for Fiscal 2014, and $220,470, $203,072 and 1.5%, respectively, for Fiscal 2013.

As of March 31, 2015, the Company had $4,050 outstanding in letters of credit and $259,950 in unused commitments, which was reduced by $100,000 in April 2015, under the Credit Agreement.

At March 31, 2015, scheduled maturities or required payments of total debt for each of the five succeeding fiscal years were as follows:

Fiscal
2016	$	865
2017	136,634
2018	633
2019	—
2020	—
Total	$	138,132

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Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Deferred Tax Liabilities
Goodwill and intangibles	$ 18,957	$ 17,251
Unremitted earnings of foreign subsidiaries	3	397
Other	1,428	256
Gross deferred tax liabilities	20,388	17,904
Deferred Tax Assets
Net operating losses	27,342	29,455
Basis of finished goods inventory	6,498	6,299
Reserve for bad debts	960	1,193
Foreign tax credit carry-forwards	1,596	195
Accrued employee costs	10,178	8,609
Stock-based compensation	6,141	8,712
Other	2,103	2,836
Gross deferred tax assets	54,818	57,299
Valuation allowance	(3,518)	(3,518)
Net deferred tax assets	51,300	53,781
Net deferred tax assets/(liabilities)	$ 30,912	$ 35,877

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Goodwill

12 Months Ended

Mar. 31, 2015

Goodwill [Abstract]

Goodwill

Goodwill

As previously disclosed, the Company realigned its organizational structure as a result of a new management team and a renewed business strategy. In connection with this reorganization, the Company evaluated its historical geographic-based operating segments (North America, Europe, Latin America and Pacific Rim) in relation to GAAP and identified the following new operating segments: (i) North America Products, (ii) North America Services, (iii) International Products and (iv) International Services. The new operating segments became effective, on a prospective basis, beginning on April 1, 2013. Note that the Company's operating segments are also its reporting units (for goodwill assessment purposes) and reporting segments (for financial reporting purposes). In connection with the identification of the new operating segments, the Company allocated goodwill from the historical geographic-based reporting units to the new reporting units using a relative fair market value approach.See Note 1 and Note 15 for additional information.

The following table summarizes Goodwill at the Company’s reporting segments, which has been allocated from the historical geographic-based reporting segments using a relative fair market value approach:

	North America Products			North America Services			International Products			International Services			Total
Goodwill (gross) at March 31, 2013	$	79,763		$	506,222		$	38,524		$	38,685		$	663,194
Accumulated impairment losses at March 31, 2013	$	(232	)	$	(277,132	)	$	(13,724	)	$	(26,709	)	$	(317,797	)
Goodwill (net) at March 31, 2013	$	79,531		$	229,090		$	24,800		$	11,976		$	345,397
Foreign currency translation adjustment	$	(14	)	$	59		$	500		$	1,441		$	1,986
Goodwill impairment loss	$	(42,613	)	$	(86,904	)	$	(20,159	)	$	(4,753	)	$	(154,429	)
Goodwill (gross) at March 31, 2014	$	79,749		$	506,281		$	39,024		$	40,126		$	665,180
Accumulated impairment losses at March 31, 2014	(42,845		)	(364,036		)	(33,883		)	(31,462		)	(472,226		)
Goodwill (net) at March 31, 2014	$	36,904		$	142,245		$	5,141		$	8,664		$	192,954
Foreign currency translation adjustment	(4		)	(10		)	193			(1,955		)	(1,776		)
Goodwill (gross) at March 31, 2015	$	79,745		$	506,271		$	39,217		$	38,171		$	663,404
Accumulated impairment losses at March 31, 2015	(42,845		)	(364,036		)	(33,883		)	(31,462		)	(472,226		)
Goodwill (net) at March 31, 2015	$	36,900		$	142,235		$	5,334		$	6,709		$	191,178

Fiscal 2015

The Company conducted its annual goodwill impairment assessment during the third quarter of Fiscal 2015 using data as of September 27, 2014. The first step of the goodwill impairment assessment, used to identify potential impairment, resulted in a surplus of fair value over carrying amount for each of our reporting units thus the reporting units are considered not impaired and the second step of the impairment test is not necessary. The excess of the fair value over this carrying amount was $23,061, $68,364, $14,839 and $1,411 for North America Products, North America Services, International Products and International Services, respectively. A 100 basis point increase in the weighted-average cost of capital, which, holding all other assumptions constant, would have a significant impact on the fair value of a reporting unit and would decrease the fair value of the reporting units by $8,629, $41,488, $2,998 and $1,265 for North America Products, North America Services, International Products and International Services, respectively.

During the fourth quarter of Fiscal 2015 in connection with planning for the fiscal year ending March 31, 2016, and based on the results of Fiscal 2015, the Company reduced its longer-term revenue and profitability outlook for North America Services from the longer-term revenue and profitability outlook used in the annual goodwill impairment assessment completed in the third quarter of Fiscal 2015. The Company evaluated the impact of this reduced longer-term revenue and profitability outlook and determined that it was not more likely than not a reduction in the fair value of this reporting unit below its carrying amount; thus, no interim test was warranted. Such determination was based on the following considerations: (i) the Company continues to expect longer-term revenue and profit growth, but at lower rates (ii) the carrying amount for North America Services did not materially change from the annual goodwill impairment assessment completed in the third quarter of Fiscal 2015 (iii) the Company had $68,364 (31%) of excess of fair value over the carrying amount for North America Services from the annual goodwill impairment assessment completed in the third quarter of Fiscal 2015 and (iv) there were no material negative industry or macro-economic trends in the fourth quarter of Fiscal 2015. To illustrate the impact of the reduced longer-term revenue and profitability outlook, assuming all other assumptions held constant from the annual goodwill impairment assessment completed in the third quarter of Fiscal 2015, the excess of the fair value for North America Services would be reduced from $68,364 (31%) to $14,963 (7%). If the Company were to fail to meet forecasted results or further reduce its longer-term revenue and profitability outlook in the future, it could result in goodwill impairment loss that could have a material adverse effect on the results of operations.

Future events that could result in an interim assessment of goodwill impairment and/or a potential impairment loss include, but are not limited to, (i) significant underperformance relative to historical or projected future operating results, (ii) significant changes in the manner of or use of the assets or the strategy for the Company's overall business and (iii) significant negative industry or economic trends.

Fiscal 2014

On April 1, 2013, the Company conducted an interim goodwill impairment assessment because data, relevant to a goodwill impairment assessment, was readily available through the reassignment of goodwill to the Company's new business segments using the relative fair market value approach. The first step of the goodwill impairment assessment, used to identify potential impairment, resulted in a surplus of fair value over carrying amount for each of our new reporting units, thus the new reporting units were considered not impaired as of April 1, 2013 and the second step of the impairment test was not necessary.

Consistent with prior years, the Company conducted its annual goodwill impairment assessment as of the end of the second quarter of its fiscal year (September 28, 2013 for Fiscal 2014). Historically, this assessment was completed during the third quarter. However, given the reduced revenue and profitability outlook for Fiscal 2014 in each reporting unit announced in November 2013 with the second fiscal quarter financial results and changes in outlook as a result of the Company’s efforts to transform into a more relevant and effective solution provider, the Company determined it was necessary to extend completion of its assessment process in order to take into account a contemporary outlook for the Company’s business units that are being developed in connection with Fiscal 2015 planning.

During the fourth quarter, the Company determined that the carrying value of its reporting units exceeded the fair value of its reporting units, which included a contemporary outlook for each unit that had been developed in connection with Fiscal 2015 planning. As such, the Company proceeded to the second step of the goodwill impairment assessment. The Company, after consultation by Management with the Audit Committee (the "Audit Committee") of the Company's Board of Directors (the "Board"), concluded that the Company will record a non-cash, pre-tax goodwill impairment loss of $154,429, (consisting of $42,613, $86,904, $20,159 and $4,753 in its North America Products, North America Services, International Products and International Services reporting units, respectively) during the fourth quarter of Fiscal 2014 as a result of its annual goodwill assessment conducted as of September 28, 2013. The impairment charge did not impact the Company's business operations, compliance with debt covenants, future cash flows nor result in any cash expenditures.

The primary factors contributing to the goodwill impairment loss were actual and projected revenue and profitability for Fiscal 2014 and Fiscal 2015, and the corresponding impact beyond those periods. Fiscal 2014 revenues and profitability on a consolidated basis were at or near their lowest levels in the past 6 years. Products revenues in Fiscal 2014 were impacted by reduced spending in both direct and indirect channels by our government clients as a result of the federal budget sequestration, which the Company believes may continue to impact North America Products Revenues, relative to recent historic levels, for the foreseeable future. Services Revenues were impacted by weaker than anticipated client adoption of the rapidly changing communications technology in our core markets. Products and Services Operating income margin were impacted by historically low gross profit margins as a result of continued competitive pricing pressures and current period investments for growth programs which, it is expected, will continue in Fiscal 2015. The Company believes that these short-term investments will enable it to grow revenue profitably in the longer term. Also contributing to the goodwill impairment loss was an increased weighted-average cost of capital for all of our reporting units (primarily driven by debt-related components of the weighted-average cost of capital).

The Company then adjusted the carrying value of its reporting units to reflect the goodwill impairment loss and compared that adjusted carrying value to the fair value of the reporting units. The excess of the fair value over this adjusted carrying value was $24,909, $51,957, $16,430 and $1,859 for North America Products, North America Services, International Products and International Services, respectively. A 100 basis point increase in the weighted-average cost of capital, which, holding all other assumptions constant, would have a significant impact on the fair value of a reporting unit, would decrease the fair value of the reporting units by $8,911, $39,375, $3,333 and $1,402 for North America Products, North America Services, International Products and International Services, respectively.

Fiscal 2013

The Company conducted its annual goodwill impairment assessment during the third quarter of Fiscal 2013 using data as of September 29, 2012. The first step of the goodwill impairment assessment, used to identify potential impairment, resulted in a surplus of fair value over carrying amount for each of our reporting units, thus the reporting units are considered not impaired and the second step of the impairment test was not necessary.

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Intangible Assets

12 Months Ended

Mar. 31, 2015

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Intangible Assets

Intangible Assets

The following table summarizes the gross carrying amount, accumulated amortization and net carrying amount by intangible asset class:

	March 31,
	2015						2014
	Gross Carrying Amount		Accum. Amort.		Net Carrying Amount		Gross Carrying Amount		Accum. Amort.		Net Carrying Amount
Definite-lived
Non-compete agreements	$	11,901	$	11,548	$	353	$	12,261	$	11,577	$	684
Customer relationships	137,267		77,988		59,279		137,267		68,644		68,623
Acquired backlog	20,838		20,111		727		20,838		19,239		1,599
Total	$	170,006	$	109,647	$	60,359	$	170,366	$	99,460	$	70,906
Indefinite-lived
Trademarks	35,992		8,253		27,739		35,992		8,253		27,739
Total	$	205,998	$	117,900	$	88,098	$	206,358	$	107,713	$	98,645

The Company’s indefinite-lived intangible assets consist solely of the Company’s trademark portfolio. The Company’s definite-lived intangible assets are comprised of employee non-compete agreements, customer relationships and backlog obtained through business acquisitions.

The following table summarizes the changes to the net carrying amounts by Intangible asset class:

	Trademarks		Non-Competes and Backlog			Customer Relationships			Total
March 31, 2013	$	27,739	$	3,754		$	79,175		$	110,668
Intangibles amortization	—		(1,472		)	(10,552		)	(12,024		)
Foreign Currency Translation Adjustment	—		1			—			1
March 31, 2014	$	27,739	$	2,283		$	68,623		$	98,645
Intangibles amortization	—		(1,205		)	(9,344		)	(10,549		)
Foreign Currency Translation Adjustment	—		2			—			2
March 31, 2015	$	27,739	$	1,080		$	59,279		$	88,098

The following table details the estimated intangibles amortization expense for the next five years.

Fiscal
2016	$	10,271
2017	8,884
2018	7,427
2019	6,446
2020	5,951
Thereafter	21,380
Total	$	60,359

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Derivative Instruments and Hedging Activities

12 Months Ended

Mar. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

Derivative Instruments and Hedging Activities

The Company is exposed to certain market risks, including the effect of changes in foreign currency exchange rates and interest rates. The Company uses derivative instruments to manage financial exposures that occur in the normal course of business. It does not hold or issue derivatives for speculative trading purposes. The Company is exposed to non-performance risk from the counterparties in its derivative instruments. This risk would be limited to any unrealized gains on current positions. To help mitigate this risk, the Company transacts only with counterparties that are rated as investment grade or higher and all counterparties are monitored on a continuous basis. The fair value of the Company’s derivatives reflects this credit risk.

Foreign currency contracts

The Company enters into foreign currency contracts to hedge exposure to variability in expected fluctuations in foreign currencies. As of March 31, 2015, the Company had open contracts in Australian and Canadian dollars, Danish krone, Euros, Mexican pesos, Norwegian kroner, British pounds sterling, Swedish krona, Swiss francs and Japanese yen which have been designated as cash flow hedges. These contracts had a notional amount of $50,874 and will expire within eight months. There was no hedge ineffectiveness during Fiscal 2015, Fiscal 2014 or Fiscal 2013. SeeNote 2 for additional information.

Interest-rate Swaps

On November 15, 2011, the Company entered into a three-year floating-to-fixed interest-rate swap, with an effective start date of July 26, 2012, that is based on a three-month LIBOR rate versus a 1.25% fixed rate and has a notional value of $125,000. This interest-rate swap does not qualify for hedge accounting and is hereinafter referred to as the "interest-rate swap." SeeNote 2 for additional information.

The following tables summarize the carrying amounts of derivative assets/liabilities and the impact on the Company’s Consolidated Statements of Operations:

		Asset Derivatives				Liability Derivatives
		March 31,
	Classification	2015		2014		2015		2014
Derivatives designated as hedging instruments
Foreign currency contracts	Other liabilities (current)					$	4,959	$	358
Foreign currency contracts	Other assets (current)	$	402	$	478
Derivatives not designated as hedging instruments
Interest-rate swaps	Other liabilities (non-current)					400		1,547

		Fiscal
	Classification	2015			2014			2013
Derivatives designated as hedging instruments
Gain (loss) recognized in other comprehensive income (effective portion), net of taxes	Other comprehensive income	$	(250	)	$	(1,212	)	$	(375	)
Amounts reclassified from AOCI into results of operations (effective portion), net of taxes	Selling, general & administrative expenses	305			1,125			357
Derivatives not designated as hedging instruments
Gain (loss) recognized in results of operations	Interest expense (income), net	1,147			832			(606		)

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Operating Leases (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Leases [Abstract]
Operating leases, expiration period	3 years
Capital lease, expiration period	3 years
Rent expense	$ 20,166	$ 18,883	$ 19,717
Operating and Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2016	11,320
2017	8,673
2018	6,438
2019	4,432
2020	2,164
Thereafter	3,308
Total minimum lease payments	$ 36,335

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Incentive Compensation Plans (Shares Available for Grant) (Details) (2008 Long-Term Incentive Plan [Member])	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock shares authorized to issue	5,123,459
Number of shares available for grant	1,713,916	[1]
Shares issued per each award granted	1.87
Shares available for grant, payout percentage	100.00%
Actual Payout 200% [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant, actual payout percentage	200.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant using possible actual payout percentage	2,227,257
Minimum [Member] | Actual Payout Range 0% to 150% [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant, actual payout percentage	0.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant using possible actual payout percentage	1,337,865
Maximum [Member] | Actual Payout Range 0% to 150% [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant, actual payout percentage	150.00%
Shares initially authorized under the Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock shares authorized to issue	900,000
Stock Repurchase Program, Additional Number of Shares Authorized to be Repurchased	1,000,000	[2]
Number of shares that were available for the grant of stock options under the Employee Plan and the Director Plan on August 12, 2008, the Effective Date [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock shares authorized to issue	888,087
Number of shares subject to stock options outstanding under the Employee Plan and the Director Plan on August 12, 2008, the Effective Date, that were forfeited or cancelled, prior to exercise, through March 31, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock shares authorized to issue	2,335,372
Shares Authorized under Incentive Plan on August 12, 2008 and August 6, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock shares authorized to issue	1,900,000

[1] The aggregate number of shares available for issuance is reduced by 1.87 shares for each issuance of a full value award (e.g., restricted stock units and performance share awards). The shares available for grant assume a 100% payout on outstanding performance share awards. Actual payout could range from 0% - 150% or 200% depending on performance goal resulting in shares available for grant from 2,227,257 to 1,337,865.

[2] On August 6, 2013, the Company's Stockholders approved amendments to the Incentive Plan, including an increase to the number of shares available for grant under the Incentive Plan by 1,000,000.

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Stockholder's Equity (Common Stock Repurchases) (Details) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended		192 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015
Stockholders' Equity Note [Abstract]
Common stock purchased (shares)	361,180	813,180	10,727,227
Aggregate purchase price	$ 8,076	$ 21,794	$ 400,360
Average price per share for treasury shares	$ 22.36	$ 26.80	$ 37.32
Payment related to tax withholding for share-based compensation	$ 1,089	$ 1,520
Shares paid for tax withholding for share-based compensation (shares)	47,447	57,913
Average price per share for shares repurchased from employees for tax payment for share-based compensation	$ 22.96	$ 26.24
Stock repurchase programs, remaining number of shares authorized to be repurchased	772,773		772,773

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Fair Value Disclosures (Tables)

12 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2015, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value.

	Level 1		Level 2		Level 3		Total
Assets at Fair Value
Defined benefit pension plan assets	$	12,950	$	22,721	$	—	$	35,671
Foreign currency contracts	$	—	$	402	$	—	$	402
Total Assets at Fair Value	$	12,950	$	23,123	$	—	$	36,073
Liabilities at Fair Value
Foreign currency contracts	$	—	$	4,959	$	—	$	4,959
Interest-rate swap	$	—	$	400	$	—	$	400
Total Liabilities at Fair Value	$	—	$	5,359	$	—	$	5,359

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Indebtedness (Maturities) (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Total Debt of Registrant, Maturities, Repayments of Principal, Fiscal Year Maturity [Abstract]
2016	$ 865
2017	136,634
2018	633
2019	0
2020	0
Total	$ 138,132	$ 160,632

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Incentive Compensation Plans

12 Months Ended

Mar. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-based Compensation

Incentive Compensation Plans

Performance Bonus

The Company has variable compensation plans covering certain team members. These plans provide a bonus contingent on the attainment of certain annual or quarterly performance targets. The Company recorded expense of $6,841, $3,777 and $3,697 under its variable compensation plans for Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively.

Profit Sharing and Savings Plans ("the savings plans")

The Company has multiple profit sharing and savings plans which qualify as deferred salary arrangements under Section 401(k) of the Code. Participants may elect to contribute a portion of their eligible compensation, subject to limits imposed by the savings plans, which are partially matched by the Company. The Company recorded expense of $2,609, $2,452 and $2,504 for these plans during Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively.

Pension Plans

The Company has multiple defined benefit pension plans for which a majority of benefits have been "frozen" (i.e., no new employees will be admitted and those employees currently in the plan will not earn additional benefits based on service) and a multi-employer plan. The Company made contributions of $1,711, $2,973 and $3,406during Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively, to the pension plans. The defined benefit pension plan had assets of $35,671, $34,229 and $29,884, a projected benefit obligation of $52,059, $47,192 and $48,016 and a resulting unfunded liability of $16,388, $12,963 and $18,132 for the periods ended March 31, 2015, 2014 and 2013, respectively. See Note 2 and Note 9 for additional reference.

Stock-based compensation plans

On August 12, 2008 (the "Effective Date"), the Company’s stockholders approved the 2008 Long-Term Incentive Plan (the "Incentive Plan") which is designed to advance the Company’s interests and the interests of the Company’s stockholders by providing incentives to certain employees, directors, consultants, independent contractors and persons to whom an offer of employment has been extended by the Company (hereinafter referred to as "Eligible Persons"). The Incentive Plan replaced the 1992 Stock Option Plan, as amended (the "Employee Plan"), and the 1992 Director Stock Option Plan, as amended (the "Director Plan"), on the Effective Date. Stock option grants under the Employee Plan and the Director Plan, prior to the Effective Date, remain outstanding and will continue to be administered in accordance with the terms of their respective plans and plan agreements.

Awards (as defined below) under the Incentive Plan may include, but need not be limited to, one or more of the following types, either alone or in any combination thereof: (i) stock options, (ii) stock appreciation rights, (iii) restricted stock, (iv) restricted stock units, (v) performance grants, (vi) other share-based awards and (vii) any other type of award deemed by the Compensation Committee (the "Compensation Committee") of the Board or any successor thereto, or such other committee of the Board as is appointed by the Board to administer the Incentive Plan, in its sole discretion, to be consistent with the purposes of the Incentive Plan (hereinafter referred to as "Awards").

The maximum aggregate number of shares of common stock available for issuance under Awards granted under the Incentive Plan, as amended, is 1,900,000 plus the number of shares that were available for the grant of stock options under the Employee Plan and the Director Plan on the Effective Date, plus the number of shares subject to stock options outstanding under the Employee Plan and the Director Plan on the Effective Date that are forfeited or cancelled prior to exercise. The following table details the shares of common stock available for grant under the Incentive Plan as of March 31, 2015.

	Shares
Shares authorized under the incentive plan on August 12, 2008	900,000
Shares authorized under the incentive plan on August 6, 2013 1	1,000,000
Number of shares that were available for the grant of stock options under the Employee Plan and the Director Plan on August 12, 2008, the Effective Date	888,087
Number of shares subject to stock options outstanding under the Employee Plan and the Director Plan on August 12, 2008, the Effective Date, that were forfeited or cancelled, prior to exercise, through March 31, 2015	2,335,372
Shares authorized for grant under the Incentive Plan as of March 31, 2015	5,123,459
Shares available for grant under the Incentive Plan as of March 31, 2015 2	1,713,916

¹ On August 6, 2013, the Company's Stockholders approved amendments to the Incentive Plan, including an increase to the number of shares available for grant under the Incentive Plan by 1,000,000.

² The aggregate number of shares available for issuance is reduced by 1.87 shares for each issuance of a full value award (e.g., restricted stock units and performance share awards). The shares available for grant assume a 100% payout on outstanding performance share awards. Actual payout could range from 0% - 150% or 200% depending on performance goal resulting in shares available for grant from 2,227,257 to 1,337,865.

The Company recognized stock-based compensation expense of $6,009, $6,589 and $7,712 during Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively. The Company recognized total income tax benefit for stock-based compensation arrangements of $2,191, $2,404 and $2,814 during Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively. Stock-based compensation expense is recorded in Selling, general & administrative expense within the Company’s Consolidated Statements of Operations.

Stock options

Stock option awards are granted with an exercise price equal to the closing market price of the common stock on the date of grant; such stock options generally become exercisable in equal amounts over a three-year period and have a contractual life of ten-years from the grant date. The fair value of stock options is estimated on the grant date using the Black-Scholes option pricing model which includes the following weighted-average assumptions.

	Fiscal
	2015		2014		2013
Expected life (in years)	7.7		6.8		7.0
Risk free interest rate	2.3	%	1.3	%	0.8	%
Annual forfeiture rate	1.5	%	2.5	%	2.0	%
Expected Volatility	45.1	%	42.3	%	44.6	%
Dividend yield	1.3	%	1.3	%	1.0	%

The following table summarizes the Company’s stock option activity:

	Shares (in 000’s)		Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Life (Years)	Intrinsic Value (000’s)
Outstanding at March 31, 2014	2,018		$	32.89
Granted	165		21.79
Exercised	—		—
Forfeited or cancelled	(339	)	34.24
Outstanding at March 31, 2015	1,844		$	31.65	3.5	$	—
Exercisable at March 31, 2015	1,554		$	33.20	2.6	$	—

The weighted-average grant-date fair value of options granted during Fiscal 2015, Fiscal 2014 and Fiscal 2013 was $9.59, $10.06 and $9.02, respectively. The intrinsic value of options exercised during Fiscal 2015, Fiscal 2014 and Fiscal 2013 was $0, $25 and $0, respectively. The aggregate intrinsic value in the preceding table is based on the closing stock price of the common stock on March 31, 2015 of $20.93.

The following table summarizes certain information regarding the Company’s non-vested stock options:

	Shares (in 000’s)		Weighted-Average Grant-Date Fair Value
March 31, 2014	258		$	10.07
Granted	165		9.59
Vested	(118	)	10.38
Forfeited	(15	)	9.77
March 31, 2015	290		$	9.68

As of March 31, 2015, there was $1,587 of total unrecognized pre-tax stock-based compensation expense related to non-vested stock options which is expected to be recognized over a weighted-average period of 1.8 years.

Restricted stock units

Restricted stock unit awards are subject to a service condition and typically vest in equal amounts over a three-year period from the grant date. The fair value of restricted stock units is determined based on the number of restricted stock units granted and the closing market price of the common stock on the date of grant.

The following table summarizes the Company’s restricted stock unit activity:

	Shares (in 000’s)		Weighted-Average Grant-Date Fair Value
March 31, 2014	289		$	25.73
Granted	181		21.79
Vested	(168	)	25.59
Forfeited	(40	)	24.05
March 31, 2015	262		$	23.34

The total fair value of shares that vested during Fiscal 2015, Fiscal 2014 and Fiscal 2013 was $3,842, $4,772 and $3,674, respectively.

As of March 31, 2015, there was $2,881 of total unrecognized pre-tax stock-based compensation expense related to non-vested restricted stock units which is expected to be recognized over a weighted-average period of 1.7 years.

Performance share awards

Performance share awards are subject to one of the performance goals - the Company’s Relative TSR Ranking or cumulative Adjusted EBITDA - over a three-year period. The Company’s Relative TSR Ranking metric is based on the three-year cumulative return to shareholders from the change in stock price and dividends paid between the starting and ending dates. The fair value of performance share awards (subject to cumulative Adjusted EBITDA) is determined based on the number of performance shares granted and the closing market price of the common stock on the date of grant. The fair value of performance share awards (subject to the Company’s Relative TSR Ranking) is estimated on the grant date using the Monte-Carlo simulation valuation method which includes the following weighted-average assumptions.

	Fiscal
	2015		2014		2013
Risk free interest rate	0.8	%	0.4	%	0.4	%
Expected Volatility	44.7	%	41.1	%	41.3	%
Dividend yield	1.3	%	1.3	%	1.0	%

The following table summarizes the Company’s performance share award activity:

	Shares (in 000’s)		Weighted- Average Grant- Date Fair Value
March 31, 2014	255		$	28.66
Granted	115		23.05
Vested	—		—
Forfeited	(95	)	33.25
March 31, 2015	275		$	24.69

The total fair value of shares that vested during Fiscal 2015, Fiscal 2014 and Fiscal 2013 was $0, $570 and $0, respectively.

As of March 31, 2015, there was $1,257 of total unrecognized pre-tax stock-based compensation expense related to non-vested performance share awards which is expected to be recognized over a weighted-average period of 1.8 years.

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Schedule II Valuation and Qualifying Accounts

12 Months Ended

Mar. 31, 2015

Valuation and Qualifying Accounts [Abstract]

Schedule II Valuation and Qualifying Accounts

SCHEDULE II

BLACK BOX CORPORATION

Valuation and Qualifying Accounts

(Dollars in thousands)

Description	Balance at Beginning of Period		Additions Charged to Expense		Additions from Acquisitions		Reductions from Reserves			Other			Balance at End of Period
March 31, 2015
Excess and obsolete inventory reserves	$	17,386	$	2,260	$	—	$	(3,022	)	$	—		$	16,624
Allowance for doubtful accounts	5,949		1,638		—		(2,478		)	—			5,109
March 31, 2014
Excess and obsolete inventory reserves	$	18,040	$	2,522	$	—	$	(3,176	)	$	—		$	17,386
Allowance for doubtful accounts	6,300		4,324		—		(4,674		)	(1		)	5,949
March 31, 2013
Excess and obsolete inventory reserves	$	18,900	$	3,586	$	—	$	(4,392	)	$	(54	)	$	18,040
Allowance for doubtful accounts	6,273		3,556		—		(3,531		)	2			6,300

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Indebtedness (Long-Term Debt) (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Debt Instrument [Line Items]
Total	$ 138,132	$ 160,632
Less: current portion (included in Other liabilities)	(865)	(203)
Long-term debt	137,267	160,429
Revolving credit agreement
Debt Instrument [Line Items]
Total	136,000	160,355
Other
Debt Instrument [Line Items]
Total	$ 2,132	$ 277

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Quarterly Data (Unaudited) (Tables)

12 Months Ended

Mar. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

The following tables represent summary Quarterly (Unaudited) Consolidated Statements of Operations for Fiscal 2015 and Fiscal 2014. Earnings (loss) per common share may not compute due to the use of different quarterly/annual basic and diluted shares.

	Fiscal 2015
Unaudited	1Q			2Q		3Q		4Q			FY
Revenues
Total Products	$	43,219		$	44,549	$	46,616	$	42,435		$	176,819
Total Services	202,007			204,324		206,678		202,616			815,625
Total	245,226			248,873		253,294		245,051			992,444
Cost of sales
Total Products	25,271			25,943		27,930		23,931			103,075
Total Services	144,726			149,221		148,569		144,584			587,100
Total	169,997			175,164		176,499		168,515			690,175
Gross profit	75,229			73,709		76,795		76,536			302,269
Selling, general & administrative expenses 1	64,015			64,016		65,145		69,970			263,146
Intangibles amortization	2,650			2,643		2,647		2,609			10,549
Operating income (loss)	8,564			7,050		9,003		3,957			28,574
Interest expense, net	1,131			1,027		1,170		1,088			4,416
Other expenses (income), net	(41		)	180		112		319			570
Income (loss) before provision for income taxes	7,474			5,843		7,721		2,550			23,588
Provision (benefit) for income taxes	3,531			2,640		2,447		(372		)	8,246
Net income (loss)	$	3,943		$	3,203	$	5,274	$	2,922		$	15,342
Earnings (loss) per common share
Basic	$	0.25		$	0.21	$	0.34	$	0.19		$	1.00
Diluted	$	0.25		$	0.21	$	0.34	$	0.19		$	0.99

¹ Includes restructuring expense of $616, $1,132, $967 and $4,139 for 1Q15, 2Q15, 3Q15 and 4Q15, respectively.

	Fiscal 2014
Unaudited	1Q		2Q		3Q		4Q			FY
Revenues
Total Products	$	48,208	$	43,191	$	44,528	$	46,226		$	182,153
Total Services	198,689		203,619		195,161		192,052			789,521
Total	246,897		246,810		239,689		238,278			971,674
Cost of sales
Total Products	28,495		24,249		25,754		26,979			105,477
Total Services	141,371		145,433		140,151		135,660			562,615
Total	169,866		169,682		165,905		162,639			668,092
Gross profit	77,031		77,128		73,784		75,639			303,582
Selling, general & administrative expenses 1	61,270		60,490		60,366		63,395			245,521
Goodwill impairment loss	—		—		—		154,429			154,429
Intangibles amortization	3,309		3,109		2,923		2,683			12,024
Operating income (loss)	12,452		13,529		10,495		(144,868		)	(108,392		)
Interest expense, net	923		1,378		1,230		1,116			4,647
Other expenses (income), net 2	116		910		84		87			1,197
Income (loss) before provision for income taxes	11,413		11,241		9,181		(146,071		)	(114,236		)
Provision (benefit) for income taxes	4,508		5,656		2,523		(11,050		)	1,637
Net income (loss)	$	6,905	$	5,585	$	6,658	$	(135,021	)	$	(115,873	)
Earnings (loss) per common share
Basic	$	0.43	$	0.35	$	0.42	$	(8.65	)	$	(7.33	)
Diluted	$	0.43	$	0.35	$	0.42	$	(8.65	)	$	(7.33	)

¹ Includes restructuring expense of $139, $734, $833 and $1,734 for 1Q14, 2Q14, 3Q14 and 4Q14, respectively.

² Includes a loss of $822 during the second quarter of Fiscal 2014 due to the probable divestiture of our non-controlling interest in GNIS, a joint venture company which was formed in conjunction with Genesis Networks Enterprises, LLC.

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Consolidated Statements of Comprehensive Income (Loss) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 15,342	$ (115,873)	$ 28,806
Other comprehensive income (loss)
Foreign currency translation adjustment	(17,954)	4,288	(4,237)
Pension
Actuarial gain (loss), net of taxes of ($1,950), $962 and ($692)	(2,999)	1,386	(1,823)
Amounts reclassified into results of operations, net of taxes of $112, $185 and $104	172	283	273
Derivative instruments
Net change in fair value of cash flow hedges, net of taxes of ($154), ($744) and ($142)	(250)	(1,212)	(375)
Amounts reclassified into results of operations, net of taxes of $187, $692 and $136	305	1,125	357
Other comprehensive income (loss)	(20,726)	5,870	(5,805)
Comprehensive income (loss)	$ (5,384)	$ (110,003)	$ 23,001

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Significant Accounting Policies

12 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Significant Accounting Policies

Significant Accounting Policies

Cash and cash equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents are stated at cost, which approximates fair value.

Allowance for doubtful accounts receivable

An allowance for doubtful accounts is recorded as an offset to accounts receivable in order to present the net balance that the Company believes will be collected. This allowance is based on both recent trends in certain accounts receivable ("specific reserve") estimated to be a greater credit risk as well as general trends in the entire accounts receivable pool ("general reserve"). The Company computes a specific reserve by identifying specifically at-risk accounts receivable and applying historic reserve factors to the outstanding balance. The Company computes a general reserve by reviewing the accounts receivable aging and applying reserve factors based upon the age of the account receivable. Additions to the allowance for doubtful accounts are charged to Selling, general & administrative expense within the Company’s Consolidated Statements of Operations, and deductions from the allowance are recorded when specific accounts receivable are written off as uncollectible. The provision for doubtful accounts expense was $1,638, $4,324 and $3,556 for Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively.

Inventories

Inventories are valued at the lower of cost or market. The Company uses the first-in, first-out average cost method to value the majority of its inventory. However, several locations within the Company use other valuation methods, including first-in, first-out ("FIFO"). The Company records an estimate for slow moving and obsolete inventory ("inventory reserve") based upon our product knowledge, physical inventory observation, future demand, market conditions and an aging analysis of the inventory on hand. For “convenience,” we reduce inventory cost through a contra asset rather than through a new cost basis. Upon a subsequent sale or disposal of the impaired inventory, the corresponding reserve is relieved to ensure the cost basis of the inventory reflects any reductions.

Property, Plant and Equipment

Property, plant and equipment are stated at cost, net of accumulated depreciation. Maintenance, repairs and minor renewals are charged to operations as incurred. Major renewals and betterments, which substantially extend the useful life of the property, are capitalized at cost. Upon sale or other disposition of assets, the costs and related accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is reflected in the Consolidated Statements of Operations.

Depreciation is computed using the straight-line method based on the estimated useful lives of 30 to 40 years for buildings and improvements and 3 to 5 years for equipment and computer hardware and software. Leasehold improvements are depreciated over their lease terms, or useful lives, if shorter. The Company reviews property, plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the estimated future cash flows (undiscounted) expected to result from the use and eventual disposition of an asset is less than the carrying amount of the asset, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of the asset. No impairment of property, plant and equipment has been identified during any of the periods presented.

Goodwill

Goodwill is the excess of purchase price over the value of net assets acquired in acquisitions. The Company conducts its annual goodwill impairment assessment during the third quarter of its fiscal year, using data as of the end of the second quarter of its fiscal year. Goodwill is tested using a two-step process. The first step of the goodwill impairment assessment, used to identify potential impairment, compares the fair value of a reporting unit with its carrying amount, including goodwill ("net book value"). If the fair value of a reporting unit exceeds its net book value, goodwill of the reporting unit is considered not impaired, thus the second step of the impairment test is unnecessary. If net book value of a reporting unit exceeds its fair value, the second step of the goodwill impairment test will be performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment assessment, used to measure the amount of impairment loss, if any, compares the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. The implied fair value of reporting unit goodwill is determined as the residual between the fair value of the reporting unit and the fair value of its assets (including any unrecognized intangible assets) and liabilities. If the carrying amount of reporting unit goodwill exceeds the implied fair value of that goodwill, an impairment loss shall be recognized in an amount equal to that excess.

In the first step of the goodwill impairment assessment, the Company uses an income approach to derive a present value of the reporting unit’s projected future annual cash flows and the present residual value of the reporting unit. The Company uses the income approach because it believes that the discounted future cash flows provide greater detail and opportunity to reflect facts, circumstances and economic conditions for each reporting unit. In addition, the Company believes that this valuation approach is a proven valuation technique and methodology for its industry and is widely accepted by investors. The Company uses a variety of underlying assumptions to estimate these future cash flows, which vary for each of the reporting units and include (i) future revenue growth rates, (ii) future operating profitability, (iii) the weighted-average cost of capital and (iv) a terminal growth rate. If the Company’s estimates and assumptions used in the discounted future cash flows should change at some future date, the Company could incur an impairment charge which could have a material adverse effect on the results of operations reported for the period in which the impairment occurs.

Intangible Assets

Definite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives of 3 to 5 years for non-compete agreements, one year for backlog and 4 to 20 years for customer relationships. Indefinite-lived intangible assets not subject to amortization consist solely of the Company’s trademark portfolio and are reviewed for impairment annually. The Company reviews definite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the estimated future cash flows (undiscounted) expected to result from the use and eventual disposition of an asset is less than the carrying amount of the asset, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of the asset. No impairments of intangible assets have been identified during any of the periods presented.

Derivative Instruments and Hedging Activities

Foreign Currency Contracts

The Company has operations, clients and suppliers worldwide, thereby exposing the Company’s financial results to foreign currency fluctuations. In an effort to reduce this risk of foreign currency fluctuations, the Company generally sells and purchases inventory based on prices denominated in U.S. dollars. Intercompany sales to subsidiaries are generally denominated in the subsidiaries’ local currency. The Company has entered and will continue in the future, on a selective basis, to enter into foreign currency contracts to reduce the foreign currency exposure related to certain intercompany transactions, primarily trade receivables and loans. All of the foreign currency contracts have been designated and qualify as cash flow hedges. The effective portion of any changes in the fair value of the derivative instruments is recorded in Accumulated Other Comprehensive Income ("AOCI") until the hedged forecasted transaction occurs or the recognized currency transaction affects earnings. Once the forecasted transaction occurs or the recognized currency transaction affects earnings, the effective portion of any related gains or losses on the cash flow hedge is reclassified from AOCI to the Company’s Consolidated Statements of Operations. In the event it becomes probable that the hedged forecasted transaction will not occur, the ineffective portion of any gain or loss on the related cash flow hedge would be reclassified from AOCI to the Company’s Consolidated Statements of Operations.

Interest-rate Swap

To mitigate the risk of interest-rate fluctuations associated with the Company’s variable rate long-term debt, the Company has implemented an interest-rate risk management strategy that incorporates the use of derivative instruments to minimize significant unplanned fluctuations in earnings caused by interest-rate volatility. The Company’s goal is to manage interest-rate sensitivity by modifying the re-pricing characteristics of certain balance sheet liabilities so that the net-interest margin is not, on a material basis, adversely affected by the movements in interest rates. The interest-rate swap (defined below) is recognized on the consolidated balance sheets at fair value. It does not meet the requirements for hedge accounting and is marked to market through Interest expense (income) within the Company’s Consolidated Statements of Operations.

Foreign Currency Translation

The financial statements of the Company’s foreign subsidiaries, except those subsidiaries in Brazil and Mexico, are recorded in the local currency, which is the functional currency. Foreign currency assets and liabilities are translated into U.S. dollars at the rate of exchange existing at the year-end date. Revenues and expenses are translated at the average monthly exchange rates. Adjustments resulting from these translations are recorded in AOCI within the Company’s Consolidated Balance Sheets and will be included in the Company’s Consolidated Statements of Operations upon sale or liquidation of the foreign investment. Gains and losses from foreign currency transactions, denominated in a currency other than the functional currency, are insignificant to the Consolidated Statement of Operations and are recorded in Other expenses (income) within the Company’s Consolidated Statements of Operations. The U.S. dollar is the functional currency for those subsidiaries located in Brazil and Mexico.

Revenue

Products revenues are recognized when title to products sold passes to the client, which generally occurs upon shipment from the Company’s location.

Services revenues are recognized from maintenance service contracts, moves, adds and changes and network integration services when the services are provided. Service contracts are generally pre-billed, recorded in Deferred revenue within the Company’s Consolidated Balance Sheets and are generally recognized over the service period on a straight-line basis. Revenues from the sale and installation of products and systems are recognized using the percentage-of-completion method based upon the proportion of actual costs incurred to estimated total costs. At the time a loss on a contract becomes known, the entire amount of the estimated loss is recognized immediately in the financial statements. The Company has historically made reasonably accurate estimates of the extent of progress towards completion, contract revenues and contract costs on its long-term contracts. However, due to uncertainties inherent in the estimation process, actual results could differ materially from those estimates.

Sales returns - At the time of sale, an estimate for sales returns is recorded based on historical experience.

Warranties - Estimated future warranty costs related to certain products are charged to operations in the period the related revenue is recognized based on historical experience.

Shipping and handling fees and costs - All fees billed to clients for shipping and handling are classified as a component of Revenues. All costs associated with shipping and handling are classified as a component of Cost of sales.

Sales tax and other tax presentation - Sales taxes and other taxes are collected from clients on behalf of governmental authorities at the time of sale. These taxes are accounted for on a net basis and are not included in Revenues or Cost of sales.

Stock-Based Compensation

Stock options: The Company records expense for those stock awards, vesting during the period, for which the requisite service period is expected to be rendered. The Company uses historical data in order to project the future employee turnover rates used to estimate the number of stock options for which the requisite service period will not be rendered. The fair value of stock options is determined on the grant date using a Black-Scholes option pricing model which includes several subjective assumptions. The Company recognizes the fair value of these awards into expense ratably over the requisite service periods associated with the award. The assumptions are summarized as follows:

Expected volatility: The Company estimates the volatility of its common stock, par value $.001 per share (the "common stock"), at the date of grant based on the historical volatility of its common stock.

Dividend yield: The Company estimates the dividend yield assumption based on the Company’s historical and projected dividend payouts.

Risk-free interest rate: The Company derives its risk-free interest rate on the observed interest rates appropriate for the term of the Company’s employee stock options.

Expected holding period: The Company estimates the expected holding period based on historical experience.

Restricted stock units: The Company records expense for those stock awards, vesting during the period, for which the requisite service period is expected to be rendered. The Company uses historical data in order to project the future employee turnover rates used to estimate the number of restricted stock units for which the requisite service period will not be rendered. The fair value of restricted stock units is determined based on the number of restricted stock units granted and the closing market price of the common stock on the date of grant. The Company recognizes the fair value of awards into expense ratably over the requisite service periods associated with the award.

Performance share awards: The Company records expense for those stock awards, vesting during the period, for which the requisite service period is expected to be rendered. The Company uses historical data in order to project the future employee turnover rates used to estimate the number of performance shares for which the requisite service period will not be rendered. The fair value of performance share awards subject to a cumulative Adjusted EBITDA target (as defined in the performance share award agreement) is determined based on the number of performance shares granted and the closing market price of the common stock on the date of grant. The Company recognizes the fair value of awards into expense ratably over the requisite service periods associated with the award. The probability of vesting of the award and the applicable number of shares of common stock to be issued are reassessed at each period end. The fair value of performance share awards subject to the Company’s total shareholder return ranking relative to the total shareholder return of the common stock (or its equivalent) of the companies in a peer group (the "Company’s Relative TSR Ranking") is determined on the grant date using a Monte-Carlo simulation valuation method which includes several subjective assumptions. The Company recognizes the fair value of these awards into expense ratably over the requisite service periods associated with the award. The assumptions are summarized as follows:

Expected volatility. The Company estimates the volatility of its common stock at the date of grant based on the historical volatility of its common stock.

Risk-Free rate. The Company derives its risk-free interest rate on the observed interest rates with an equivalent remaining term equal to the expected life of the award.

Dividend yield. The Company estimates the dividend yield assumption based on the Company’s historical and projected dividend payouts.

Marketing and Advertising Expenses

Catalogs and other direct marketing pieces are capitalized and amortized over their expected period of future benefit ranging from one to two-years, which is recorded in Prepaid and other assets within the Company’s Consolidated Balance Sheets. All other advertising costs are expensed as incurred.

Advertising expense was $5,629, $4,778 and $4,636 for Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively, and is recorded in Selling, general & administrative expenses within the Company’s Consolidated Statements of Operations.

Income Taxes

The Company accounts for income taxes using an asset and liability approach, which requires the recognition of deferred income tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. Deferred income tax assets and liabilities are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using enacted tax rates. A valuation allowance is provided on deferred tax assets if it is determined that it is more likely than not that the asset will not be realized.

The Company requires that the realization of an uncertain income tax position must be "more likely than not" (i.e., greater than 50% likelihood of receiving a benefit) before it can be recognized in the financial statements. The benefit to be recorded in the financial statements is the amount most likely to be realized assuming a review by tax authorities having all relevant information and applying current conventions. The Company includes interest and penalties related to uncertain tax positions within the Provision (benefit) for income taxes within the Company’s Consolidated Statements of Operations.

Per share information

Basic earnings (loss) per common share ("basic EPS") is computed by dividing Net income (loss) by the weighted-average number of shares of the common stock outstanding during the period. Diluted earnings (loss) per share of the common stock is computed similarly to that of basic EPS, except that the weighted-average number of shares of the common stock outstanding during the period is adjusted to include the number of additional shares of the common stock that would have been outstanding if the potential number of dilutive shares of the common stock had been issued.

Fair Value

The Company’s assets and liabilities recorded at fair value are categorized based upon a fair value hierarchy that ranks the quality and reliability of the information used to determine fair value. The levels of the fair value hierarchy are described below:

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3: Inputs that are both significant to the fair value measurement and unobservable.

Assets and liabilities measured at fair value are based on one or more of the valuation techniques. The valuation techniques are described below.

Market approach: The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.

Cost approach: The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (current replacement cost).

Income approach: The income approach uses valuation techniques to convert future amounts to a single present amount.

The fair value of foreign currency contracts is determined using the market approach and primarily based on observable foreign exchange forward rates. The fair value of pension plan assets is determined using a market approach and consists of $12,950 of mutual funds measured using level 1 inputs and $22,721 of common collective trusts measured using level 2 inputs. The fair value of the interest-rate swaps (as defined below) is determined using the income approach and is predominately based on observable interest rates and yield curves. The fair value of certain of the Company’s financial instruments, including Accounts receivable and Accounts payable, approximates the carrying value due to the relatively short maturity of such instruments. The fair value of the Company's Long-term debt approximates carrying value because the interest rate is subject to change with market interest rates. There have been no changes in the Company’s valuation techniques used to measure fair values during Fiscal 2015. See Note 9 for further reference.

Recently Issued Accounting Standards

There have been no accounting pronouncements adopted during Fiscal 2015, Fiscal 2014 or Fiscal 2013 that had a material impact on the Company’s consolidated financial statements.

In May 2014, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Codification ("ASC") Update No. 2014-09, "Revenue from Contracts with Customers" ("ASC 2014-09"), that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The core principle of ASC 2014-09 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expected to be entitled in exchange for those goods or services. Entities can use either of two methods: (i) retrospective to each prior period presented with the option to elect certain practical expedients as defined within ASC 2014-09; or (ii) retrospective with the cumulative effect of initially applying ASC 2014-09 recognized at the date of initial application and providing certain additional disclosures as defined per ASC 2014-09. ASC 2014-09 is effective for annual reporting periods (including interim periods therein) beginning after December 15, 2016 for public companies and early adoption is not permitted. The Company is evaluating the method of adoption and the impact of the adoption of ASU 2014-09 on its consolidated financial statements.

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Income Taxes (Schedule of Components of Income Tax Expense (Benefit) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Mar. 31, 2015	Dec. 27, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 31, 2014	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Current
Federal									$ 279	$ 6,376	$ 8,877
State									1,259	2,112	2,203
Foreign									2,052	1,821	2,433
Total current									3,590	10,309	13,513
Deferred									4,656	(8,672)	4,144
Total provision (benefit) for income taxes	$ (372)	$ 2,447	$ 2,640	$ 3,531	$ (11,050)	$ 2,523	$ 5,656	$ 4,508	$ 8,246	$ 1,637	$ 17,657

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Incentive Compensation Plans (Performance Share Awards) (Details) (Performance share awards [Member], USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Performance share awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance goals measuring period	3 years
Stock-based Compensation, Fair Value Assumptions [Abstract]
Risk free interest rate	0.80%	0.40%	0.40%
Expected Volatility	44.70%	41.10%	41.30%
Dividend yield	1.30%	1.30%	1.00%
Stock-based Compensation, Nonvested, Shares (in 000's) [Roll Forward]
March 31, 2014	255
Granted	115
Vested	0
Forfeited	(95)
March 31, 2015	275	255
Stock-based Compensation, Nonvested, Weighted Average Grant Date Fair Value (Per Share) [Roll Forward]
March 31, 2014	$ 28.66
Granted	$ 23.05
Vested	$ 0.00
Forfeited	$ 33.25
March 31, 2015	$ 24.69	$ 28.66
Total fair value of shares vested	$ 0	$ 570	$ 0
Total unrecognized pre-tax stock-based compensation expense related to non-vested shares	$ 1,257
Weighted-average period of recognition	1 year 9 months

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Significant Accounting Policies (Policies)

12 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Cash and cash equivalents

Cash and cash equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents are stated at cost, which approximates fair value.

Allowance for doubtful accounts receivable

Allowance for doubtful accounts receivable

An allowance for doubtful accounts is recorded as an offset to accounts receivable in order to present the net balance that the Company believes will be collected. This allowance is based on both recent trends in certain accounts receivable ("specific reserve") estimated to be a greater credit risk as well as general trends in the entire accounts receivable pool ("general reserve"). The Company computes a specific reserve by identifying specifically at-risk accounts receivable and applying historic reserve factors to the outstanding balance. The Company computes a general reserve by reviewing the accounts receivable aging and applying reserve factors based upon the age of the account receivable. Additions to the allowance for doubtful accounts are charged to Selling, general & administrative expense within the Company’s Consolidated Statements of Operations, and deductions from the allowance are recorded when specific accounts receivable are written off as uncollectible.

Inventories

Inventories

Inventories are valued at the lower of cost or market. The Company uses the first-in, first-out average cost method to value the majority of its inventory. However, several locations within the Company use other valuation methods, including first-in, first-out ("FIFO"). The Company records an estimate for slow moving and obsolete inventory ("inventory reserve") based upon our product knowledge, physical inventory observation, future demand, market conditions and an aging analysis of the inventory on hand. For “convenience,” we reduce inventory cost through a contra asset rather than through a new cost basis. Upon a subsequent sale or disposal of the impaired inventory, the corresponding reserve is relieved to ensure the cost basis of the inventory reflects any reductions.

Property, Plant and Equipment

Property, Plant and Equipment

Property, plant and equipment are stated at cost, net of accumulated depreciation. Maintenance, repairs and minor renewals are charged to operations as incurred. Major renewals and betterments, which substantially extend the useful life of the property, are capitalized at cost. Upon sale or other disposition of assets, the costs and related accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is reflected in the Consolidated Statements of Operations.

Depreciation is computed using the straight-line method based on the estimated useful lives of 30 to 40 years for buildings and improvements and 3 to 5 years for equipment and computer hardware and software. Leasehold improvements are depreciated over their lease terms, or useful lives, if shorter. The Company reviews property, plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the estimated future cash flows (undiscounted) expected to result from the use and eventual disposition of an asset is less than the carrying amount of the asset, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of the asset. No impairment of property, plant and equipment has been identified during any of the periods presented.

Goodwill

Goodwill

Goodwill is the excess of purchase price over the value of net assets acquired in acquisitions. The Company conducts its annual goodwill impairment assessment during the third quarter of its fiscal year, using data as of the end of the second quarter of its fiscal year. Goodwill is tested using a two-step process. The first step of the goodwill impairment assessment, used to identify potential impairment, compares the fair value of a reporting unit with its carrying amount, including goodwill ("net book value"). If the fair value of a reporting unit exceeds its net book value, goodwill of the reporting unit is considered not impaired, thus the second step of the impairment test is unnecessary. If net book value of a reporting unit exceeds its fair value, the second step of the goodwill impairment test will be performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment assessment, used to measure the amount of impairment loss, if any, compares the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. The implied fair value of reporting unit goodwill is determined as the residual between the fair value of the reporting unit and the fair value of its assets (including any unrecognized intangible assets) and liabilities. If the carrying amount of reporting unit goodwill exceeds the implied fair value of that goodwill, an impairment loss shall be recognized in an amount equal to that excess.

In the first step of the goodwill impairment assessment, the Company uses an income approach to derive a present value of the reporting unit’s projected future annual cash flows and the present residual value of the reporting unit. The Company uses the income approach because it believes that the discounted future cash flows provide greater detail and opportunity to reflect facts, circumstances and economic conditions for each reporting unit. In addition, the Company believes that this valuation approach is a proven valuation technique and methodology for its industry and is widely accepted by investors. The Company uses a variety of underlying assumptions to estimate these future cash flows, which vary for each of the reporting units and include (i) future revenue growth rates, (ii) future operating profitability, (iii) the weighted-average cost of capital and (iv) a terminal growth rate. If the Company’s estimates and assumptions used in the discounted future cash flows should change at some future date, the Company could incur an impairment charge which could have a material adverse effect on the results of operations reported for the period in which the impairment occurs.

Intangible Assets

Intangible Assets

Definite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives of 3 to 5 years for non-compete agreements, one year for backlog and 4 to 20 years for customer relationships. Indefinite-lived intangible assets not subject to amortization consist solely of the Company’s trademark portfolio and are reviewed for impairment annually. The Company reviews definite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the estimated future cash flows (undiscounted) expected to result from the use and eventual disposition of an asset is less than the carrying amount of the asset, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of the asset. No impairments of intangible assets have been identified during any of the periods presented.

Derivatives Instruments and Hedging Activities

Derivative Instruments and Hedging Activities

Foreign Currency Contracts

The Company has operations, clients and suppliers worldwide, thereby exposing the Company’s financial results to foreign currency fluctuations. In an effort to reduce this risk of foreign currency fluctuations, the Company generally sells and purchases inventory based on prices denominated in U.S. dollars. Intercompany sales to subsidiaries are generally denominated in the subsidiaries’ local currency. The Company has entered and will continue in the future, on a selective basis, to enter into foreign currency contracts to reduce the foreign currency exposure related to certain intercompany transactions, primarily trade receivables and loans. All of the foreign currency contracts have been designated and qualify as cash flow hedges. The effective portion of any changes in the fair value of the derivative instruments is recorded in Accumulated Other Comprehensive Income ("AOCI") until the hedged forecasted transaction occurs or the recognized currency transaction affects earnings. Once the forecasted transaction occurs or the recognized currency transaction affects earnings, the effective portion of any related gains or losses on the cash flow hedge is reclassified from AOCI to the Company’s Consolidated Statements of Operations. In the event it becomes probable that the hedged forecasted transaction will not occur, the ineffective portion of any gain or loss on the related cash flow hedge would be reclassified from AOCI to the Company’s Consolidated Statements of Operations.

Interest-rate Swap

To mitigate the risk of interest-rate fluctuations associated with the Company’s variable rate long-term debt, the Company has implemented an interest-rate risk management strategy that incorporates the use of derivative instruments to minimize significant unplanned fluctuations in earnings caused by interest-rate volatility. The Company’s goal is to manage interest-rate sensitivity by modifying the re-pricing characteristics of certain balance sheet liabilities so that the net-interest margin is not, on a material basis, adversely affected by the movements in interest rates. The interest-rate swap (defined below) is recognized on the consolidated balance sheets at fair value. It does not meet the requirements for hedge accounting and is marked to market through Interest expense (income) within the Company’s Consolidated Statements of Operations.

Foreign Currency Translation

Foreign Currency Translation

The financial statements of the Company’s foreign subsidiaries, except those subsidiaries in Brazil and Mexico, are recorded in the local currency, which is the functional currency. Foreign currency assets and liabilities are translated into U.S. dollars at the rate of exchange existing at the year-end date. Revenues and expenses are translated at the average monthly exchange rates. Adjustments resulting from these translations are recorded in AOCI within the Company’s Consolidated Balance Sheets and will be included in the Company’s Consolidated Statements of Operations upon sale or liquidation of the foreign investment. Gains and losses from foreign currency transactions, denominated in a currency other than the functional currency, are insignificant to the Consolidated Statement of Operations and are recorded in Other expenses (income) within the Company’s Consolidated Statements of Operations. The U.S. dollar is the functional currency for those subsidiaries located in Brazil and Mexico.

Revenue

Revenue

Products revenues are recognized when title to products sold passes to the client, which generally occurs upon shipment from the Company’s location.

Services revenues are recognized from maintenance service contracts, moves, adds and changes and network integration services when the services are provided. Service contracts are generally pre-billed, recorded in Deferred revenue within the Company’s Consolidated Balance Sheets and are generally recognized over the service period on a straight-line basis. Revenues from the sale and installation of products and systems are recognized using the percentage-of-completion method based upon the proportion of actual costs incurred to estimated total costs. At the time a loss on a contract becomes known, the entire amount of the estimated loss is recognized immediately in the financial statements. The Company has historically made reasonably accurate estimates of the extent of progress towards completion, contract revenues and contract costs on its long-term contracts. However, due to uncertainties inherent in the estimation process, actual results could differ materially from those estimates.

Sales returns - At the time of sale, an estimate for sales returns is recorded based on historical experience.

Warranties - Estimated future warranty costs related to certain products are charged to operations in the period the related revenue is recognized based on historical experience.

Shipping and handling fees and costs - All fees billed to clients for shipping and handling are classified as a component of Revenues. All costs associated with shipping and handling are classified as a component of Cost of sales.

Sales tax and other tax presentation - Sales taxes and other taxes are collected from clients on behalf of governmental authorities at the time of sale. These taxes are accounted for on a net basis and are not included in Revenues or Cost of sales.

Share-Based Compensation

Stock-Based Compensation

Stock options: The Company records expense for those stock awards, vesting during the period, for which the requisite service period is expected to be rendered. The Company uses historical data in order to project the future employee turnover rates used to estimate the number of stock options for which the requisite service period will not be rendered. The fair value of stock options is determined on the grant date using a Black-Scholes option pricing model which includes several subjective assumptions. The Company recognizes the fair value of these awards into expense ratably over the requisite service periods associated with the award. The assumptions are summarized as follows:

Expected volatility: The Company estimates the volatility of its common stock, par value $.001 per share (the "common stock"), at the date of grant based on the historical volatility of its common stock.

Dividend yield: The Company estimates the dividend yield assumption based on the Company’s historical and projected dividend payouts.

Risk-free interest rate: The Company derives its risk-free interest rate on the observed interest rates appropriate for the term of the Company’s employee stock options.

Expected holding period: The Company estimates the expected holding period based on historical experience.

Restricted stock units: The Company records expense for those stock awards, vesting during the period, for which the requisite service period is expected to be rendered. The Company uses historical data in order to project the future employee turnover rates used to estimate the number of restricted stock units for which the requisite service period will not be rendered. The fair value of restricted stock units is determined based on the number of restricted stock units granted and the closing market price of the common stock on the date of grant. The Company recognizes the fair value of awards into expense ratably over the requisite service periods associated with the award.

Performance share awards: The Company records expense for those stock awards, vesting during the period, for which the requisite service period is expected to be rendered. The Company uses historical data in order to project the future employee turnover rates used to estimate the number of performance shares for which the requisite service period will not be rendered. The fair value of performance share awards subject to a cumulative Adjusted EBITDA target (as defined in the performance share award agreement) is determined based on the number of performance shares granted and the closing market price of the common stock on the date of grant. The Company recognizes the fair value of awards into expense ratably over the requisite service periods associated with the award. The probability of vesting of the award and the applicable number of shares of common stock to be issued are reassessed at each period end. The fair value of performance share awards subject to the Company’s total shareholder return ranking relative to the total shareholder return of the common stock (or its equivalent) of the companies in a peer group (the "Company’s Relative TSR Ranking") is determined on the grant date using a Monte-Carlo simulation valuation method which includes several subjective assumptions. The Company recognizes the fair value of these awards into expense ratably over the requisite service periods associated with the award. The assumptions are summarized as follows:

Expected volatility. The Company estimates the volatility of its common stock at the date of grant based on the historical volatility of its common stock.

Risk-Free rate. The Company derives its risk-free interest rate on the observed interest rates with an equivalent remaining term equal to the expected life of the award.

Dividend yield. The Company estimates the dividend yield assumption based on the Company’s historical and projected dividend payouts.

Marketing and Advertising Expenses

Marketing and Advertising Expenses

Catalogs and other direct marketing pieces are capitalized and amortized over their expected period of future benefit ranging from one to two-years, which is recorded in Prepaid and other assets within the Company’s Consolidated Balance Sheets. All other advertising costs are expensed as incurred

Income Taxes

Income Taxes

The Company accounts for income taxes using an asset and liability approach, which requires the recognition of deferred income tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. Deferred income tax assets and liabilities are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using enacted tax rates. A valuation allowance is provided on deferred tax assets if it is determined that it is more likely than not that the asset will not be realized.

The Company requires that the realization of an uncertain income tax position must be "more likely than not" (i.e., greater than 50% likelihood of receiving a benefit) before it can be recognized in the financial statements. The benefit to be recorded in the financial statements is the amount most likely to be realized assuming a review by tax authorities having all relevant information and applying current conventions. The Company includes interest and penalties related to uncertain tax positions within the Provision (benefit) for income taxes within the Company’s Consolidated Statements of Operations.

Per share information

Per share information

Basic earnings (loss) per common share ("basic EPS") is computed by dividing Net income (loss) by the weighted-average number of shares of the common stock outstanding during the period. Diluted earnings (loss) per share of the common stock is computed similarly to that of basic EPS, except that the weighted-average number of shares of the common stock outstanding during the period is adjusted to include the number of additional shares of the common stock that would have been outstanding if the potential number of dilutive shares of the common stock had been issued.

Fair Value

Fair Value

The Company’s assets and liabilities recorded at fair value are categorized based upon a fair value hierarchy that ranks the quality and reliability of the information used to determine fair value. The levels of the fair value hierarchy are described below:

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3: Inputs that are both significant to the fair value measurement and unobservable.

Assets and liabilities measured at fair value are based on one or more of the valuation techniques. The valuation techniques are described below.

Market approach: The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.

Cost approach: The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (current replacement cost).

Income approach: The income approach uses valuation techniques to convert future amounts to a single present amount.

The fair value of foreign currency contracts is determined using the market approach and primarily based on observable foreign exchange forward rates. The fair value of pension plan assets is determined using a market approach and consists of $12,950 of mutual funds measured using level 1 inputs and $22,721 of common collective trusts measured using level 2 inputs. The fair value of the interest-rate swaps (as defined below) is determined using the income approach and is predominately based on observable interest rates and yield curves. The fair value of certain of the Company’s financial instruments, including Accounts receivable and Accounts payable, approximates the carrying value due to the relatively short maturity of such instruments. The fair value of the Company's Long-term debt approximates carrying value because the interest rate is subject to change with market interest rates. There have been no changes in the Company’s valuation techniques used to measure fair values during Fiscal 2015. See Note 9 for further reference.

Recently Issued Accounting Standards

Recently Issued Accounting Standards

There have been no accounting pronouncements adopted during Fiscal 2015, Fiscal 2014 or Fiscal 2013 that had a material impact on the Company’s consolidated financial statements.

In May 2014, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Codification ("ASC") Update No. 2014-09, "Revenue from Contracts with Customers" ("ASC 2014-09"), that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The core principle of ASC 2014-09 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expected to be entitled in exchange for those goods or services. Entities can use either of two methods: (i) retrospective to each prior period presented with the option to elect certain practical expedients as defined within ASC 2014-09; or (ii) retrospective with the cumulative effect of initially applying ASC 2014-09 recognized at the date of initial application and providing certain additional disclosures as defined per ASC 2014-09. ASC 2014-09 is effective for annual reporting periods (including interim periods therein) beginning after December 15, 2016 for public companies and early adoption is not permitted. The Company is evaluating the method of adoption and the impact of the adoption of ASU 2014-09 on its consolidated financial statements.

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Commitments and Contingencies (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Warranty reserve	$ 1,214	$ 1,520

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Incentive Compensation Plans (Tables)

12 Months Ended

Mar. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule Common Stock Available for Grant

The following table details the shares of common stock available for grant under the Incentive Plan as of March 31, 2015.

	Shares
Shares authorized under the incentive plan on August 12, 2008	900,000
Shares authorized under the incentive plan on August 6, 2013 1	1,000,000
Number of shares that were available for the grant of stock options under the Employee Plan and the Director Plan on August 12, 2008, the Effective Date	888,087
Number of shares subject to stock options outstanding under the Employee Plan and the Director Plan on August 12, 2008, the Effective Date, that were forfeited or cancelled, prior to exercise, through March 31, 2015	2,335,372
Shares authorized for grant under the Incentive Plan as of March 31, 2015	5,123,459
Shares available for grant under the Incentive Plan as of March 31, 2015 2	1,713,916

¹ On August 6, 2013, the Company's Stockholders approved amendments to the Incentive Plan, including an increase to the number of shares available for grant under the Incentive Plan by 1,000,000.

² The aggregate number of shares available for issuance is reduced by 1.87 shares for each issuance of a full value award (e.g., restricted stock units and performance share awards). The shares available for grant assume a 100% payout on outstanding performance share awards. Actual payout could range from 0% - 150% or 200% depending on performance goal resulting in shares available for grant from 2,227,257 to 1,337,865.

Schedule of Stock Options, Valuation Assumptions

The fair value of stock options is estimated on the grant date using the Black-Scholes option pricing model which includes the following weighted-average assumptions.

	Fiscal
	2015		2014		2013
Expected life (in years)	7.7		6.8		7.0
Risk free interest rate	2.3	%	1.3	%	0.8	%
Annual forfeiture rate	1.5	%	2.5	%	2.0	%
Expected Volatility	45.1	%	42.3	%	44.6	%
Dividend yield	1.3	%	1.3	%	1.0	%

Schedule of Stock Options, Activity

The following table summarizes the Company’s stock option activity:

	Shares (in 000’s)		Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Life (Years)	Intrinsic Value (000’s)
Outstanding at March 31, 2014	2,018		$	32.89
Granted	165		21.79
Exercised	—		—
Forfeited or cancelled	(339	)	34.24
Outstanding at March 31, 2015	1,844		$	31.65	3.5	$	—
Exercisable at March 31, 2015	1,554		$	33.20	2.6	$	—

Schedule of Stock Options, Nonvested Share Activity

The following table summarizes certain information regarding the Company’s non-vested stock options:

	Shares (in 000’s)		Weighted-Average Grant-Date Fair Value
March 31, 2014	258		$	10.07
Granted	165		9.59
Vested	(118	)	10.38
Forfeited	(15	)	9.77
March 31, 2015	290		$	9.68

Schedule of Restricted Stock Units, Activity

The following table summarizes the Company’s restricted stock unit activity:

	Shares (in 000’s)		Weighted-Average Grant-Date Fair Value
March 31, 2014	289		$	25.73
Granted	181		21.79
Vested	(168	)	25.59
Forfeited	(40	)	24.05
March 31, 2015	262		$	23.34

Schedule of Performance Share Units, Valuation Assumptions

The fair value of performance share awards (subject to the Company’s Relative TSR Ranking) is estimated on the grant date using the Monte-Carlo simulation valuation method which includes the following weighted-average assumptions.

	Fiscal
	2015		2014		2013
Risk free interest rate	0.8	%	0.4	%	0.4	%
Expected Volatility	44.7	%	41.1	%	41.3	%
Dividend yield	1.3	%	1.3	%	1.0	%

Schedule of Performance Share Units, Activity

The following table summarizes the Company’s performance share award activity:

	Shares (in 000’s)		Weighted- Average Grant- Date Fair Value
March 31, 2014	255		$	28.66
Granted	115		23.05
Vested	—		—
Forfeited	(95	)	33.25
March 31, 2015	275		$	24.69

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Operating Leases

12 Months Ended

Mar. 31, 2015

Leases [Abstract]

Operating Leases

Operating Leases

The Company leases offices, facilities, equipment and vehicles throughout the world. While most of the leases are operating leases that expire over the next three years, certain vehicles and equipment are leased under capital leases that also expire over the next three years. As leases expire, it can be expected that, in the normal course of business, certain leases will be renewed or replaced.

Certain lease agreements include renewal options and escalating rents over the lease terms. Generally, the Company expenses rent on a straight-line basis over the life of the lease which commences on the date the Company has the right to control the property. The cumulative expense recognized on a straight-line basis in excess of the cumulative payments is included in Accrued expenses and Other liabilities within the Company’s Consolidated Balance Sheets. Rent expense was $20,166, $18,883 and $19,717 for Fiscal 2015, Fiscal 2014 and Fiscal 2013, respectively.

The future minimum lease payments under non-cancelable capital and operating leases with initial or remaining terms of one year or more as of March 31, 2015 are as follows:

Fiscal
2016	$	11,320
2017	8,673
2018	6,438
2019	4,432
2020	2,164
Thereafter	3,308
Total minimum lease payments	$	36,335