10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

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

For the quarterly period ended October 1, 2016

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

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 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 (Do not check if a smaller reporting company) Smaller reporting company o

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

As of October 14, 2016, there were 15,148,403 shares of common stock, par value $.001 (the "common stock"), outstanding.

1

BLACK BOX CORPORATION

FOR THE QUARTER ENDED OCTOBER 1, 2016

INDEX

		Page
PART I. FINANCIAL INFORMATION
Item 1.	Financial Statements.
	Consolidated Balance Sheets.	3
	Consolidated Statements of Operations.	4
	Consolidated Statements of Comprehensive Income (Loss).	5
	Consolidated Statements of Cash Flows.	6
	Notes to the Consolidated Financial Statements.	7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.	18
Item 3.	Quantitative and Qualitative Disclosures about Market Risk.	26
Item 4.	Controls and Procedures.	27
PART II. OTHER INFORMATION
Item 6.	Exhibits.	29
SIGNATURE		29
EXHIBIT INDEX		30

2

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements.

BLACK BOX CORPORATION

CONSOLIDATED BALANCE SHEETS

	(Unaudited)
In thousands, except par value	October 1, 2016			March 31, 2016
Assets
Cash and cash equivalents	$	16,124		$	23,497
Accounts receivable, net of allowance for doubtful accounts of $7,022 and $7,808	146,119			139,222
Inventories, net	26,020			42,703
Costs/estimated earnings in excess of billings on uncompleted contracts	71,556			66,664
Other assets	26,023			27,315
Total current assets	285,842			299,401
Property, plant and equipment, net	33,601			34,474
Intangibles, net	73,417			78,181
Deferred tax asset	54,484			57,065
Other assets	7,158			6,673
Total assets	$	454,502		$	475,794
Liabilities
Accounts payable	$	61,820		$	56,774
Accrued compensation and benefits	23,051			21,493
Deferred revenue	30,161			29,441
Billings in excess of costs/estimated earnings on uncompleted contracts	22,337			20,411
Other liabilities	43,170			42,234
Total current liabilities	180,539			170,353
Long-term debt	101,734			119,663
Other liabilities	25,348			29,545
Total liabilities	$	307,621		$	319,561
Stockholders’ equity
Preferred stock authorized 5,000, par value $1.00, none issued	$	—		$	—
Common stock authorized 100,000, par value $.001, 15,148 and 15,018 shares outstanding, 26,640 and 26,470 issued	26			26
Additional paid-in capital	505,019			501,839
Retained earnings	70,336			80,553
Accumulated other comprehensive income (loss)	(14,913		)	(13,075		)
Treasury stock, at cost 11,492 and 11,452 shares	(413,587		)	(413,110		)
Total stockholders’ equity	$	146,881		$	156,233
Total liabilities and stockholders’ equity	$	454,502		$	475,794

SeeNotes to the Consolidated Financial Statements

3

BLACK BOX CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

	Three-months ended						Six-months ended
	October 1 and September 26						October 1 and September 26
In thousands, except per share amounts	2016			2015			2016			2015
Revenues
Products	$	42,263		$	44,284		$	82,144		$	84,780
Services	176,486			192,554			355,085			381,272
Total	218,749			236,838			437,229			466,052
Cost of sales *
Products	27,213			25,488			50,146			49,160
Services	137,092			139,944			264,986			275,835
Total	164,305			165,432			315,132			324,995
Gross profit	54,444			71,406			122,097			141,057
Selling, general & administrative expenses	58,142			61,391			120,624			124,277
Asset impairment loss	536			157,272			536			157,272
Intangibles amortization	2,304			2,604			4,755			5,217
Operating income (loss)	(6,538		)	(149,861		)	(3,818		)	(145,709		)
Interest expense, net	1,050			1,053			2,257			2,435
Other expenses (income), net	41			443			(302		)	385
Income (loss) before provision for income taxes	(7,629		)	(151,357		)	(5,773		)	(148,529		)
Provision (benefit) for income taxes	(1,524		)	(21,512		)	808			(19,438		)
Net income (loss)	$	(6,105	)	$	(129,845	)	$	(6,581	)	$	(129,091	)
Earnings (loss) per common share
Basic	$	(0.40	)	$	(8.45	)	$	(0.44	)	$	(8.41	)
Diluted	$	(0.40	)	$	(8.45	)	$	(0.44	)	$	(8.41	)
Weighted-average common shares outstanding
Basic	15,149			15,375			15,088			15,345
Diluted	15,149			15,375			15,088			15,345
Dividends per share	$	0.12		$	0.11		$	0.24		$	0.22

*Exclusive of depreciation and intangibles amortization.

SeeNotes to the Consolidated Financial Statements

4

BLACK BOX CORPORATION

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Unaudited)

	Three-months ended						Six-months ended
	October 1 and September 26						October 1 and September 26
In thousands	2016			2015			2016			2015
Net income (loss)	$	(6,105	)	$	(129,845	)	$	(6,581	)	$	(129,091	)
Other comprehensive income (loss)
Foreign Currency Translation Adjustment	19			(2,062		)	(1,803		)	1,226
Defined Benefit Pension
Actuarial gain (loss), net of taxes of $137, ($3), $138, and $0	215			(4		)	216			1
Amounts reclassified into results of operations, net of taxes of ($70), $56, ($207), and $112	(110		)	85			(324		)	170
Derivative Instruments
Net change in fair value of cash flow hedges, net of taxes of ($189), ($76), ($283), and ($137)	(295		)	(123		)	(443		)	(222		)
Amounts reclassified into results of operations, net of taxes of $185, $43, $330, and $170	289			69			516			275
Other comprehensive income (loss)	$	118		$	(2,035	)	$	(1,838	)	$	1,450
Comprehensive income (loss)	$	(5,987	)	$	(131,880	)	$	(8,419	)	$	(127,641	)

SeeNotes to the Consolidated Financial Statements

5

BLACK BOX CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	Six-months ended
	October 1 and September 26
In thousands	2016			2015
Operating Activities
Net income (loss)	$	(6,581	)	$	(129,091	)
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities
Intangibles amortization	4,755			5,217
Depreciation	4,600			4,088
Loss (gain) on sale of property	(1,223		)	(27		)
Deferred taxes	2,119			(23,179		)
Stock compensation expense	3,172			3,148
Change in fair value of interest-rate swaps	—			(399		)
Asset impairment loss	536			157,272
Provision for obsolete inventory	9,688			469
Provision for (recovery of) doubtful accounts	277			147
Changes in operating assets and liabilities (net of acquisitions)
Accounts receivable	(7,607		)	(14,403		)
Inventories	6,824			3,849
Costs/estimated earnings in excess of billings on uncompleted contracts	(5,108		)	329
All other assets	(326		)	11,380
Accounts payable	4,866			(6,227		)
Billings in excess of costs/estimated earnings on uncompleted contracts	1,971			2,195
All other liabilities	(2,281		)	(28,688		)
Net cash provided by (used for) operating activities	$	15,682		$	(13,920	)
Investing Activities
Capital expenditures	(3,875		)	(4,498		)
Capital disposals	1,422			117
Net cash provided by (used for) investing activities	$	(2,453	)	$	(4,381	)
Financing Activities
Proceeds (repayments) from long-term debt	$	(17,922	)	$	13,918
Proceeds (repayments) from short-term debt	1,620			6,434
Deferred financing costs	(1,049		)	—
Purchase of treasury stock	(477		)	(2,796		)
Payment of dividends	(3,465		)	(3,229		)
Increase (decrease) in cash overdrafts	379			4
Net cash provided by (used for) financing activities	(20,914		)	14,331
Foreign currency exchange impact on cash	$	312		$	723
Increase/(decrease) in cash and cash equivalents	$	(7,373	)	$	(3,247	)
Cash and cash equivalents at beginning of period	$	23,497		$	23,534
Cash and cash equivalents at end of period	$	16,124		$	20,287
Supplemental cash flow
Cash paid for interest	$	1,784		$	3,092
Cash paid for income taxes	(818		)	1,022
Non-cash financing activities
Dividends payable	1,818			1,692
Capital leases	166			319

SeeNotes to the Consolidated Financial Statements

6

BLACK BOX CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

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 40-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.

Basis of Presentation

The accompanying unaudited interim consolidated financial statements of Black Box have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The Company believes that these consolidated financial statements reflect all normal, recurring adjustments needed to present fairly the Company’s results for the interim periods presented. The results as of and for interim periods presented may not be indicative of the results of operations for any other interim period or for the full year. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission ("SEC") for the fiscal year ended March 31, 2016 (the "Form 10-K").

The Company’s fiscal year ends on March 31. The fiscal quarters consist of 13 weeks and end on the Saturday generally nearest each calendar quarter end, adjusted to provide relatively equivalent business days for each fiscal quarter. The actual ending dates for the periods presented in these Notes to the Consolidated Financial Statements as of September 30, 2016 and 2015 were October 1, 2016 and September 26, 2015, respectively. 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. These reclassifications had no effect on reported net income (loss), comprehensive income (loss), cash flows, total assets or total stockholders' equity.

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, property, plant and equipment, intangible assets and goodwill. Actual results could differ from those estimates. Management believes the estimates made are reasonable.

Note 2: Significant Accounting Policies

Significant Accounting Policies

The significant accounting policies used in the preparation of the Company’s consolidated financial statements are disclosed in Note 2 of the Notes to the Consolidated Financial Statements within the Form 10-K. No additional significant accounting policies have been adopted during Fiscal 2017.

7

Recent Accounting Pronouncements

There have been no accounting pronouncements adopted during Fiscal 2017 that have had a material impact on the Company's consolidated financial statements.

Note 3: Inventories

The Company’s Inventories consist of the following:

	September 30, 2016			March 31, 2016
Raw materials	$	1,809		$	1,897
Finished goods	50,607			60,969
Inventory, gross	52,416			62,866
Excess and obsolete inventory reserves	(26,396		)	(20,163		)
Inventories, net	$	26,020		$	42,703

During 2Q17, the Company incurred $9,137 of Inventory impairment loss, which included $2,810 in North America Products due to a write-down to lower of cost or market as a result of specific legacy networking product discontinuation and excess inventory given the current demand outlook for North America Products, and $6,327 in North America Services due to a write-down to lower of cost or market as a result of excess inventory given current demand in commercial services within North America Services. The Company is focused on maximizing asset utilization and working capital efficiencies and these reductions will increase cost efficiency in future periods. Based on the demand reviews completed, resulting in the stated inventory impairment loss, the Company does not expect further inventory impairments during Fiscal 2017.

Note 4: Intangible Assets

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

	September 30, 2016						March 31, 2016
	Gross Carrying Amount		Accum. Amort.		Net Carrying Amount		Gross Carrying Amount		Accum. Amort.		Net Carrying Amount
Definite-lived
Non-compete agreements	$	2,214	$	2,214	$	—	$	2,254	$	2,170	$	84
Customer relationships	122,334		76,114		46,220		122,345		71,445		50,900
Backlog	3,489		3,489		—		3,489		3,489		—
Total	$	128,037	$	81,817	$	46,220	$	128,088	$	77,104	$	50,984
Indefinite-lived
Trademarks	35,450		8,253		27,197		35,450		8,253		27,197
Total	$	163,487	$	90,070	$	73,417	$	163,538	$	85,357	$	78,181

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-compete agreements			Customer relationships			Backlog		Total
March 31, 2016	$	27,197	$	84		$	50,900		$	—	$	78,181
Intangibles Amortization	—		(84		)	(4,671		)	—		(4,755		)
Foreign currency translation adjustment	—		—			(9		)	—		(9		)
September 30, 2016	$	27,197	$	—		$	46,220		$	—	$	73,417

8

The following table details the estimated intangibles amortization expense for the remainder of Fiscal 2017, each of the succeeding four fiscal years and the periods thereafter.

Fiscal
2017	$	4,640
2018	7,866
2019	6,446
2020	5,951
2021	5,502
Thereafter	15,815
Total	$	46,220

Note 5: Indebtedness

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

	September 30, 2016			March 31, 2016
Revolving credit agreement	$	101,400		$	119,000
Other	1,637			1,802
Total debt	$	103,037		$	120,802
Less: current portion (included in Other liabilities)	(1,303		)	(1,139		)
Long-term debt	$	101,734		$	119,663

On May 9, 2016, the Company refinanced its then existing $200,000 credit facility pursuant to a new credit agreement (the "Credit Agreement") with PNC Bank, National Association, as administrative agent, Bank of America, N.A., as syndication agent, and certain other lender parties. The Credit Agreement expires on May 9, 2021. Borrowings under the Credit Agreement are permitted up to a maximum amount of $200,000, and includes up to $15,000 of swing-line loans and $25,000 of letters of credit. The Credit Agreement may be increased by the Company up to an additional $50,000 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) a Base Rate Option equal to the highest of (i) the federal funds open rate, plus fifty (50) basis points (0.5%), (ii) the bank’s prime rate, and (iii) the daily LIBOR rate, plus 100 basis points (1.0%), in each case plus 0% to 1.00% (determined by a leverage ratio based on the Company’s consolidated EBITDA) or (b) a rate per annum equal to the LIBOR rate plus 1.00% to 2.00% (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 interest coverage ratios. The Company’s obligations under the Credit Agreement are secured by substantially all of the assets of the Company’s material direct and indirect subsidiaries that are incorporated (or organized) under the laws of the District of Columbia or under the laws of any state or commonwealth of the United States and are guaranteed by such domestic subsidiaries. As of September 30, 2016, 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 the three-months ended September 30, 2016 was $145,100, $131,973 and 2.6%, respectively, compared to $183,050, $172,037 and 1.9%, respectively, for the three-months ended September 30, 2015. 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 the six-months ended September 30, 2016 was $150,075, $132,643 and 2.5%, respectively, compared to $183,050, $166,494 and 1.9%, respectively, for the six-months ended September 30, 2015.

As of September 30, 2016, the Company had $4,850 outstanding in letters of credit and $93,750 in unused commitments, which are limited by a financial covenant, under the Credit Agreement.

9

Note 6: 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.

The Company enters into foreign currency contracts to hedge exposure to variability in expected fluctuations in foreign currencies. 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.

As of September 30, 2016, 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, all of which have been designated as cash flow hedges. These contracts had a notional amount of $53,849 and will expire within 8 months. There was no hedge ineffectiveness during Fiscal 2017 or Fiscal 2016.

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
		September 30,		March 31,		September 30,		March 31,
	Classification	2016		2016		2016		2016
Derivatives designated as hedging instruments
Foreign currency contracts	Other liabilities (current)					$	581	$	552
Foreign currency contracts	Other assets (current)	$	306	$	882

		Three-months ended						Six-months ended
		September 30						September 30
	Classification	2016			2015			2016			2015
Derivatives designated as hedging instruments
Gain (loss) recognized in other comprehensive income (effective portion), net of taxes	Other comprehensive income	$	(295	)	$	(123	)	$	(443	)	$	(222	)
Amounts reclassified from AOCI into results of operations (effective portion), net of taxes	Selling, general & administrative expenses	289			69			516			275

10

Note 7: 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 September 30, 2016, 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(1)	$	21,275	$	11,111	$	—	$	32,386
Foreign currency contracts	$	—	$	306	$	—	$	306
Total Assets at Fair Value	$	21,275	$	11,417	$	—	$	32,692
Liabilities at Fair Value
Foreign currency contracts	$	—	$	581	$	—	$	581

(1) The fair value of pension plan assets is measured annually, thus this value is as of March 31, 2016.

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.

Note 8: Stockholder's Equity

Accumulated Other Comprehensive Income

The components of AOCI consisted of the following for the periods presented:

	September 30, 2016			March 31, 2016
Foreign Currency Translation Adjustment	$	(690	)	$	1,113
Derivative Instruments	(182		)	(255		)
Defined Benefit Pension	(14,041		)	(13,933		)
Accumulated other comprehensive income	$	(14,913	)	$	(13,075	)

Dividends

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

Period	Record Date	Payment Date	Rate		Aggregate Value
2Q17	September 30, 2016	October 14, 2016	$	0.12	$	1,818
1Q17	July 1, 2016	July 15, 2016	$	0.12	$	1,811
4Q16	March 31, 2016	April 14, 2016	$	0.11	$	1,652
3Q16	December 24, 2015	January 8, 2016	$	0.11	$	1,694
2Q16	September 25, 2015	October 9, 2015	$	0.11	$	1,692
1Q16	June 26, 2015	July 10, 2015	$	0.11	$	1,691

While the Company expects to continue to declare quarterly dividends, the payment of future dividends is at the discretion of the Company's Board of Directors (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 regularly quarterly dividends not exceeding $15,000 per year 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, the Company is permitted to make other distributions or dividends if such event would not violate a 3.00 to 1.00 consolidated leverage ratio under the Credit Agreement.

11

Common Stock Repurchases

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

	Three-months ended				Six-months ended
	September 30				September 30
	2016		2015		2016		2015
Shares of common stock purchased	—		—		39,735		141,524
Aggregate purchase price	$	—	$	—	$	477	$	2,796
Average purchase price	$	—	$	—	$	12.01	$	19.75

During the six-month period ended September 30, 2016, the Company made tax payments of $477 and withheld 39,735 shares of common stock, which were designated as treasury shares, at an average price per share of $12.01, in order to satisfy employee income taxes due as a result of the vesting of certain restricted stock units. During the six-month period ended September 30, 2015, the Company made tax payments of $796 and withheld 40,176 shares of common stock, which were designated as treasury shares, at an average price per share of $19.80, in order to satisfy employee income taxes due as a result of the vesting of certain restricted stock units.

Since the inception of its repurchase programs beginning in April 1999 and through September 30, 2016, the Company has repurchased 11,194,933 shares of common stock for an aggregate purchase price of $406,661, or an average purchase price per share of $36.33. 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 September 30, 2016, 1,305,067 shares were available under the most recent 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 is permitted, with certain exceptions, under the Credit Agreement if the Company's consolidated leverage ratio (based on EBITDA) exceeds 3.00. At September 30, 2016, the Company's leverage ratio was 2.79.

Note 9: Income Taxes

The Company's benefit for income taxes for the three-months ended September 30, 2016 was $1,524, an effective tax rate of 20.0% on loss before provision for income taxes of $7,629, compared to $21,512, an effective tax rate of 14.2% on loss before provision for income taxes of $151,357 for the three-months ended September 30, 2015. The effective tax rate increased from 14.2% to 20.0% was primarily due to the deferred tax write-off of equity awards. The effective tax rate for the six-months ended September 30, 2016 of 20.0% differs from the federal statutory rate primarily due to mix of income across various taxing jurisdictions. The Company's provision for income taxes for the six-months ended September 30, 2016 was $808, an effective tax rate of (14.0)% on loss before benefit for income taxes of $5,773, compared to a benefit for income taxes of $19,438, an effective tax rate of 13.1% on loss before benefit for income taxes of $148,529 for the six-months ended September 30, 2015. The effective tax rate decrease from 13.1% to (14.0)% was primarily due to due to mix of income across various taxing jurisdictions.

The Company provides for income taxes at the end of each interim period based on the estimated effective tax rate adjusted for certain discrete items for the full fiscal year. Cumulative adjustments to the Company's estimate are recorded in the interim period in which a change in the estimated annual effective rate is determined.

Fiscal 2013 through Fiscal 2016 remain open to examination by the Internal Revenue Service ("IRS") and Fiscal 2011 through Fiscal 2016 remain open to examination by certain state and foreign taxing jurisdictions.

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Note 10: Stock-based Compensation

In August 2008, the Company’s stockholders approved the 2008 Long-Term Incentive Plan, as amended (the "Incentive Plan"), which replaced the 1992 Stock Option Plan, as amended, and the 1992 Director Stock Option Plan, as amended. As of September 30, 2016, the Incentive Plan is authorized to issue stock options, restricted stock units and performance shares, among other types of awards, for up to 5,799,395 shares of common stock, par value $0.001 per share (the "common stock").

The Company recognized stock-based compensation expense of $939 and $869 for the three-months ended September 30, 2016 and 2015, respectively and $3,172 and $3,148 for the six-months ended September 30, 2016 and 2015, respectively. The Company recognized total income tax benefit for stock-based compensation arrangements of $349 and $332 for the three-months ended September 30, 2016 and 2015, respectively, and $1,180 and $1,201 for the six-months ended September 30, 2016 and 2015, 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.

	Six-months ended
	September 30
	2016		2015
Expected life (in years)	6.8		7.5
Risk free interest rate	1.6	%	2.0	%
Annual forfeiture rate	1.8	%	1.5	%
Expected Volatility	41.7	%	43.9	%
Dividend yield	3.1	%	1.8	%

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)
March 31, 2016	1,269		$	27.86
Granted	381		11.99
Exercised	—		—
Forfeited or cancelled	(415	)	30.14
September 30, 2016	1,235		$	22.20	5.5	$	728
Exercisable	776		$	27.42	3.2	$	—

The weighted-average grant-date fair value of options granted during the six-months ended September 30, 2016 and 2015 was $3.74 and $7.79, respectively. The intrinsic value of options exercised during the six-months ended September 30, 2016 and 2015 was $0 and $0, respectively. The aggregate intrinsic value in the preceding table is based on the closing stock price of the common stock on September 30, 2016, which was $13.90.

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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, 2016	281		$	8.63
Granted	381		3.74
Vested	(133	)	9.00
Forfeited	(70	)	8.31
September 30, 2016	459		$	4.51

As of September 30, 2016, there was $1,657 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 2.3 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, 2016	276		$	19.99
Granted	292		12.08
Vested	(170	)	18.67
Forfeited	(28	)	19.73
September 30, 2016	370		$	14.36

The total fair value of shares that vested during the six-months ended September 30, 2016 and 2015 was $2,039 and $2,979, respectively.

As of September 30, 2016, there was $3,669 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 2.2 years.

Performance share awards

Performance share awards are subject to one of the performance goals - the Company's Relative Total Shareholder Return ("TSR") Ranking or cumulative Adjusted EBITDA - each over a three-year period. The Company’s Relative TSR Ranking metric is based on the three-year cumulative return to stockholders 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.

	Six-months ended
	September 30
	2016		2015
Risk free interest rate	0.9	%	0.9	%
Expected Volatility	45.1	%	39.9	%
Dividend yield	3.4	%	2.0	%

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

	Shares (in 000’s)		Weighted-Average Grant-Date Fair Value
March 31, 2016	260		$	23.14
Granted	198		11.99
Vested	—		—
Forfeited	(109	)	25.70
September 30, 2016	349		$	16.02

The total fair value of shares that vested during the six-months ended September 30, 2016 and 2015 was $0 and $0, respectively.

As of September 30, 2016, there was $1,997 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 2.4 years.

Note 11: 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 table in thousands):

	Three-months ended						Six-months ended
	September 30						September 30
	2016			2015			2016			2015
Net income (loss)	$	(6,105	)	$	(129,845	)	$	(6,581	)	$	(129,091	)
Weighted-average common shares outstanding (basic)	15,149			15,375			15,088			15,345
Effect of dilutive securities from equity awards	—			—			—			—
Weighted-average common shares outstanding (diluted)	15,149			15,375			15,088			15,345
Basic earnings (loss) per common share	$	(0.40	)	$	(8.45	)	$	(0.44	)	$	(8.41	)
Dilutive earnings (loss) per common share	$	(0.40	)	$	(8.45	)	$	(0.44	)	$	(8.41	)

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 1,333,272 and 2,113,322 non-dilutive equity awards outstanding for the three-months ended September 30, 2016 and 2015, respectively, and 1,339,604 and 1,850,305 non-dilutive equity awards outstanding for the six-months ended September 30, 2016 and 2015, respectively, that are not included in the corresponding period Weighted-average common shares outstanding (diluted) computation.

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Note 12: Segment Information

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.

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
2Q17
Revenues	$	20,954		$	169,782		$	21,309		$	6,704		$	218,749
Gross profit	6,533			37,955			8,517			1,439			54,444
Operating income (loss)	(1,153		)	(6,106		)	469			252			(6,538		)
Depreciation	417			1,691			187			60			2,355
Intangibles amortization	—			2,189			115			—			2,304
Restructuring expense	125			2,126			671			20			2,942
Asset impairment loss	—			536			—			—			536
Capital expenditures	(449		)	1,728			107			417			1,803
Assets (as of September 30)	46,822			354,641			36,033			17,006			454,502
2Q16
Revenues	24,339			185,463			19,945			7,091			236,838
Gross profit	10,903			51,014			7,893			1,596			71,406
Operating income (loss)	(22,912		)	(114,945		)	(5,097		)	(6,907		)	(149,861		)
Depreciation	358			1,512			171			45			2,086
Intangibles amortization	—			2,604			—			—			2,604
Restructuring expense	8			414			437			67			926
Asset impairment loss	25,211			119,547			5,348			7,166			157,272
Capital expenditures	1,841			250			409			81			2,581
Assets (as of September 30)	77,981			411,527			38,277			15,887			543,672
2QYTD17
Revenues	40,039			341,517			42,105			13,568			437,229
Gross profit	15,467			87,098			16,531			3,001			122,097
Operating income (loss)	(259		)	(4,959		)	849			551			(3,818		)
Depreciation	822			3,306			369			103			4,600
Intangibles amortization	—			4,523			232			—			4,755
Restructuring expense	125			2,126			671			20			2,942
Asset impairment loss	—			536			—			—			536
Capital expenditures	826			2,416			201			432			3,875
Assets (as of September 30)	46,822			354,641			36,033			17,006			454,502
2QYTD16
Revenues	45,164			367,481			39,616			13,791			466,052
Gross profit	19,782			102,130			15,838			3,307			141,057
Operating income (loss)	(21,924		)	(112,591		)	(4,778		)	(6,416		)	(145,709		)
Depreciation	712			2,954			331			91			4,088
Intangibles amortization	—			5,217			—			—			5,217
Restructuring expense	20			794			511			104			1,429
Asset impairment loss	25,211			119,547			5,348			7,166			157,272
Capital expenditures	2,241			1,627			521			109			4,498
Assets (as of September 30)	77,981			411,527			38,277			15,887			543,672

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Note 13: Commitments and Contingencies

The Company is subject to unclaimed or abandoned property (escheat) laws which require it to turn over to state governmental authorities the property of others held by the Company that has been unclaimed for specified periods of time. Property held by the Company subject to escheat laws primarily includes accounts payable, payroll checks and trade accounts receivable credits. The Company participated in voluntary disclosure programs in all 50 states within the United States and the District of Columbia in an effort to voluntarily comply with state abandoned property laws and settle past due unclaimed property obligations. The Company completed the programs and settled with 49 states and the District of Columbia which resulted in an immaterial charge to the consolidated financial statements during the fiscal year ended March 31, 2014. On May 22, 2013, the Company entered into Delaware’s Voluntary Disclosure Agreement Program in order to voluntarily comply with Delaware’s abandoned property law in exchange for certain protections and benefits. During the second quarter of Fiscal 2017, the Company has substantially completed Delaware's Voluntary Disclosure Program which resulted in an immaterial gain to the consolidated financial statements.

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.

There has been no other significant or unusual activity during Fiscal 2017.

Note 14: Restructuring

The Company has incurred and continues to incur costs related to facility consolidations, such as idle facility rent obligations and the write-off of leasehold improvements, and employee severance (collectively referred to as “restructuring expense”) in a continued effort to consolidate back office functions and to make its organization more efficient. These restructuring activities are compartmentalized and are not part of an overall plan and therefore the Company cannot estimate the total amount to be incurred in connection with the activity. Employee severance is generally payable within the next twelve months with certain facility costs extending through Fiscal 2019.

The following table summarizes the changes to the restructuring liability for the periods presented.

	Employee Severance			Facility Closures			Total
Balance at March 31, 2016	7,050			234			7,284
Restructuring expense	$	2,817		$	125		$	2,942
Cash expenditures	$	(4,038	)	$	(159	)	$	(4,197	)
Balance at September 30, 2016	$	5,829		$	200		$	6,029

Of the $6,029 above, $5,994 is classified as a current liability under Other liabilities on the Company’s Consolidated Balance Sheets for the period ended September 30, 2016.

The following table summarizes restructuring expense, which is recorded in Selling, general & administrative expenses in the Company’s Consolidated Statements of Operations, for the six months ended September 30, 2016, for the Company’s reporting segments:

	North America Products		North America Services		International Products		International Services		Total
Employee Severance	$	125	$	2,018	$	671	$	3	$	2,817
Facility Closures	$	—	$	108	$	—	$	17	$	125
Total	$	125	$	2,126	$	671	$	20	$	2,942

As previously disclosed, Company management is considering initiatives to reset the business model and align costs with revenue to improve profitability. As a result, during FY17, our profits could be negatively impacted by restructuring expenses resulting from such initiatives, some of which were incurred during 2Q17, which are designed to maximize the efficiency of the cost structure for each of our segments to enhance the Company's profitability. The Company believes there is a significant cost savings for such restructuring initiatives that will provide a return on investment in a relatively short period of time. Such restructuring initiatives have not been formalized and the Company cannot state with any certainty the timing or whether or not such events will occur.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations("MD&A").

The discussion and analysis for the three-months and six-months ended September 30, 2016 and 2015 as set forth below in this Part I, Item 2 should be read in conjunction with the response to Part I, Item 1 of this report and the consolidated financial statements of Black Box Corporation ("Black Box," the "Company," "we" or "our"), including the related notes, and "Management’s Discussion and Analysis of Financial Condition and Results of Operations" included in the Company’s most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission ("SEC") for the fiscal year ended March 31, 2016 (the "Form 10-K"). References to “2Q17” mean the three-month period ended September 30, 2016 while references to “2Q16” mean the three-month period ended September 30, 2015. References to “2QYTD17” mean the six-month period ended September 30, 2016 while references to “2QYTD16” mean the six-month period ended September 30, 2015. The Company’s fiscal year ends on March 31. The fiscal quarters consist of 13 weeks and generally end on the Saturday nearest each calendar quarter end, adjusted to provide relatively equivalent business days for each fiscal quarter. The actual ending dates for the periods presented as of September 30, 2016 and 2015 were October 1, 2016 and September 26, 2015, respectively. 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 40-year history.

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 collaboration with key channel partners and system integrators, through a global distribution network and, to a lesser extent, sales to end-users. 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 40 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, Products revenues are less impacted by capital spending and more so by general information technology spending.

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 solutions practices. 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 Services' 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 September 30, 2016, the Company's total backlog, which relates primarily to Services, was $342,555, of which $255,295is expected to be completed within the next twelve months.

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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, technology, business services, healthcare, manufacturing, banking and retail, 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 relationships 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 3,434 team members world-wide, with the collective experience and certifications to serve our clients with on-site and remote capabilities.

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

• Strong financial position: We have a strong balance sheet and have generated positive cash flow for 40 consecutive years.

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.

2QYTD17 vs 2QYTD16 Summary

	2QYTD17			2QYTD16			% Change
Revenues	$	437,229		$	466,052		(6	)%
Gross profit margin	27.9		%	30.3		%	(8	)%
Operating income (loss) margin	(0.9		)%	(31.3		)%	n/m
Diluted earnings (loss) per share	$	(0.44	)	$	(8.41	)	n/m
Net cash provided by (used for) operating activities	$	15,682		$	(13,920	)	n/m

n/m = not meaningful

Diluted loss per share was $0.44, compared to $8.41in the same period last year as a result of:

• a $28,823decrease in Revenues as a result of a decrease in Service Revenues, primarily due to a decrease in our core commercial revenues in North America Services as a result of a delay in a major project and a less than normal focus on sales as a result of multiple transformational activities including but not limited to a commercial sales organization realignment and an ERP consolidation project and a decrease in Products Revenues due to a decrease in North America Products as a result of lower volumes of large orders, a change in sales leadership and lower demand for legacy data networking products along with relatively consistent government revenues within North America Services after nearly four fiscal years of revenue declines,

• a $18,960decrease in Gross profit as a result of the decrease in Revenues in North America Services and North America Products noted above and a decrease in Gross profit margin which included $9,137 of Inventory impairment loss due to a write-down to lower of cost or market as a result of specific legacy networking product discontinuation and excess inventory given the current demand outlook for North America Products, and due to a write-down to lower of cost or market as a result of excess inventory given current demand in commercial services within North America Services,

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• a $3,653decrease in Selling, general and administrative expenses which was primarily the result of a $1,175 gain on the sale of a facility and a decrease in investments for the operations transformation and infrastructure, lower operating costs due to cost reduction initiatives and cost savings from restructuring during the first nine-months of Fiscal 2016, partially offset by additional costs related to variable compensation programs, $1,514 of additional restructuring and $571 of additional depreciation. As expected, the Company did not receive any benefit during the first half of Fiscal 2017 for restructuring activities initiated during the fourth quarter of Fiscal 2016. The Company does expect to realize benefits during the remainder of Fiscal 2017 and the fiscal year ended March 31, 2018,

• a $156,736 decrease in Long-lived asset impairment loss,

• a $178decrease in Interest expense (income) resulting from a decrease in weighted-average outstanding debt partially offset by an increase in the weighted-average interest rate,

• a $20,246increase in Provision for income taxes and a decrease in the effective rate from 13.1% to (14.0)% due to mix of income across various taxing jurisdictions.

• a 257decrease in Diluted weighted-average common shares outstanding resulting from the Company's common stock repurchases partially offset by the vesting of certain restricted stock awards in 1Q17.

Net cash provided by operating activities was $15,682, which included Net loss of $6,581 and negative cash from working capital of $1,661, compared to net cash used for operating activities of $13,920, which included Net loss of $129,091 and negative cash from working capital of $31,565, in the same period last year.

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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 GAAP.

	2Q17			2Q16			% Change		2QYTD17			2QYTD16			% Change
Revenues
North America Products	$	20,954		$	24,339		(14	)%	$	40,039		$	45,164		(11	)%
International Products	$	21,309		$	19,945		7	%	$	42,105		$	39,616		6	%
Products	$	42,263		$	44,284		(5	)%	$	82,144		$	84,780		(3	)%
North America Services	$	169,782		$	185,463		(8	)%	$	341,517		$	367,481		(7	)%
International Services	$	6,704		$	7,091		(5	)%	$	13,568		$	13,791		(2	)%
Services	$	176,486		$	192,554		(8	)%	$	355,085		$	381,272		(7	)%
Total Revenues	$	218,749		$	236,838		(8	)%	$	437,229		$	466,052		(6	)%
Gross profit
North America Products	$	6,533		$	10,903		(40	)%	$	15,467		$	19,782		(22	)%
% of Revenues	31.2		%	44.8		%	(30	)%	38.6		%	43.8		%	(12	)%
International Products	$	8,517		$	7,893		8	%	$	16,531		$	15,838		4	%
% of Revenues	40.0		%	39.6		%	1	%	39.3		%	40.0		%	(2	)%
Products	$	15,050		$	18,796		(20	)%	$	31,998		$	35,620		(10	)%
% of Revenues	35.6		%	42.4		%	(16	)%	39.0		%	42.0		%	(7	)%
North America Services	$	37,955		$	51,014		(26	)%	$	87,098		$	102,130		(15	)%
% of Revenues	22.4		%	27.5		%	(19	)%	25.5		%	27.8		%	(8	)%
International Services	$	1,439		$	1,596		(10	)%	$	3,001		$	3,307		(9	)%
% of Revenues	21.5		%	22.5		%	(4	)%	22.1		%	24.0		%	(8	)%
Services	$	39,394		$	52,610		(25	)%	$	90,099		$	105,437		(15	)%
% of Revenues	22.3		%	27.3		%	(18	)%	25.4		%	27.7		%	(8	)%
Total Gross Profit	54,444			71,406			(24	)%	122,097			141,057			(13	)%
% of Revenues	24.9		%	30.1		%	(17	)%	27.9		%	30.3		%	(8	)%
Operating income (loss)
North America Products	$	(1,153	)	$	(22,912	)	n/m		$	(259	)	$	(21,924	)	n/m
% of Revenues	(5.5		)%	(94.1		)%	n/m		(0.6		)%	(48.5		)%	n/m
International Products	$	469		$	(5,097	)	n/m		$	849		$	(4,778	)	n/m
% of Revenues	2.2		%	(25.6		)%	n/m		2.0		%	(12.1		)%	n/m
Products	$	(684	)	$	(28,009	)	n/m		$	590		$	(26,702	)	n/m
% of Revenues	(1.6		)%	(63.2		)%	n/m		0.7		%	(31.5		)%	n/m
North America Services	$	(6,106	)	$	(114,945	)	n/m		$	(4,959	)	$	(112,591	)	n/m
% of Revenues	(3.6		)%	(62.0		)%	n/m		(1.5		)%	(30.6		)%	n/m
International Services	$	252		$	(6,907	)	n/m		$	551		$	(6,416	)	n/m
% of Revenues	3.8		%	(97.4		)%	n/m		4.1		%	(46.5		)%	n/m
Services	$	(5,854	)	$	(121,852	)	n/m		$	(4,408	)	$	(119,007	)	n/m
% of Revenues	(3.3		)%	(63.3		)%	n/m		(1.2		)%	(31.2		)%	n/m
Total Operating Income (loss)	(6,538		)	(149,861		)	n/m		(3,818		)	(145,709		)	n/m
% of Revenues	(3.0		)%	(63.3		)%	n/m		(0.9		)%	(31.3		)%	n/m

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2Q17 vs 2Q16

Total Revenues were $218,749, a decrease of 8% from $236,838 in the same period last year. Product Revenues were $42,263, a decrease of 5% from $44,284 in the same period last year primarily due to a decrease in North America Products as a result of lower volumes of large orders, a change in sales leadership and lower demand for legacy data networking products, partially offset by an increase in International Products due to fulfillment of a large solution order. Service Revenues were $176,486, a decrease of 8% from $192,554 in the same period last year primarily due to a decrease in core commercial revenues in North America Services as a result of a delay in a major project and a less than normal focus on sales as a result of multiple transformational activities including but not limited to a commercial sales organization realignment and an ERP consolidation project partially offset by an increase in government revenues as a result of certain projects timeline acceleration and product only sales activity. During 2Q17, the Company realigned the commercial sales team to a vertical market view which was not a significant realignment compared to the sales transformation in Fiscal 2015. As a result of this realignment the Company is strengthening its commitment to clients and strategic partners to create business outcomes required by their specific markets and by doing so will support deeper, more strategic thinking about our offerings, enabling solution and outcome based selling to that market and differentiating the Company in the marketplace. We do not expect to see significant benefits from this sales realignment due to the 12-18 month sales cycle for these solutions.

Total Gross profit margin was 24.9%, a decrease of 17% from 30.1% in the same period last year. Product Gross profit margin was 35.6%, which included $2,810 of Inventory impairment loss due to a write-down to lower of cost or market as a result of specific legacy networking product discontinuation and excess inventory given the current demand outlook for North America Products, a decrease of 16% from 42.4% in the same period last year. Service Gross profit margin was 22.3%, which included $6,327 of Inventory impairment loss due to a write-down to lower of cost or market as a result of excess inventory given current demand in commercial services within North America Services, a decrease of 18% from 27.3% in the same period last year. The Company is focused on maximizing asset utilization and working capital efficiencies and these reductions will increase cost efficiency in future periods. Based on the demand reviews completed, resulting in the stated inventory impairment loss, the Company does not expect further inventory impairments during Fiscal 2017.

Total Operating loss margin was 3.0%, compared to 63.3% in the same period last year. Product Operating loss margin was 1.6%, compared to 63.2% in the same period last year, primarily due to a decrease in goodwill impairment loss of $30,559 ($25,211 in North America Products and $5,348 in International Products), partially offset by lower Gross profit margin in North America Products as described above. Service Operating loss margin was 3.3%, compared to 63.3% in the same period last year, primarily due to a decrease in goodwill and intangible asset impairment loss of $126,713 ($119,547 in North America Services and $7,166 in International Services), cost savings from restructuring during the first nine-months of Fiscal 2016 and cost control programs that were implemented during Fiscal 2017, partially offset by lower Gross profit margin in North America Services as described above. During 2Q17 the Company incurred restructuring charges in an effort to reduce investments in slow growth markets which will allow for future investments in expanding markets. As expected, the Company did not receive any benefit during 2Q17 for restructuring activities initiated during the fourth quarter of Fiscal 2016. The Company does expect to realize benefits during the remainder of Fiscal 2017 and the fiscal year ended March 31, 2018.

2QYTD17 vs 2QYTD16

Total Revenues were $437,229, a decrease of 6% from $466,052 in the same period last year. Product Revenues were $82,144, a decrease of 3% from $84,780 in the same period last year, primarily due to a decrease in North America Products as a result of lower volumes of large orders, a change in sales leadership and lower demand for legacy data networking products, partially offset by an increase in International Products due to fulfillment of a large solution order.Service Revenues were $355,085, a decrease of 7% from $381,272 in the same period last year primarily due to a decrease in core commercial revenues, primarily in the business services industry, in North America Services as a result of a delay in a major project and a less than normal focus on sales as a result of multiple transformational activities including but not limited to a commercial sales organization realignment and an ERP consolidation project along with relatively consistent government revenues after nearly four fiscal years of revenue declines.

Total Gross profit margin was 27.9%, a decrease of 8% from 30.3% in the same period last year. Product Gross profit margin was 39.0%, which included $2,810 of Inventory impairment loss, a decrease of 7% from 42.0% in the same period last year. Service Gross profit margin was 25.4%, which included $6,327 of Inventory impairment loss, a decrease of 8% from 27.7% in the same period last year.

Total Operating loss margin was 0.9%, an increase compared to 31.3% in the same period last year. Product Operating profit margin was 0.7%, an increase compared to Product Operating loss margin of 31.5% in the same period last year, primarily due to a decrease in goodwill impairment loss of $30,559 ($25,211 in North America Products and $5,348 in International Products), partially offset by lower Gross profit margin in North America Products as described above and an increase in Selling, general

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and administrative expenses due to costs related to variable compensation programs. Service Operating loss margin was 1.2%, an increase compared to 31.2% in the same period last year, primarily due to a decrease in goodwill and intangible asset impairment loss of $126,713 ($119,547 in North America Services and $7,166 in International Services), cost savings from restructuring during the first nine-months of Fiscal 2016 and cost control programs that were implemented during Fiscal 2017,partially offset by lower Gross profit margin in North America Services as described above and an increase in Selling, general and administrative expenses due to costs related to variable compensation programs.

As previously disclosed, Company management is considering initiatives to reset the business model and align costs with revenue to improve profitability. As a result, during FY17, our profits could be negatively impacted by restructuring expenses resulting from such initiatives, some of which were incurred in 2Q17, which are designed to maximize the efficiency of the cost structure for each of our segments to enhance the Company's profitability. The Company believes there is a significant cost savings for such restructuring initiatives that will provide a return on investment in a relatively short period of time. However, there can be no assurance that we would realize adequate returns on this investment nor that we would be able to maintain such cost savings in the future. Such restructuring initiatives have not been formalized and the Company cannot state with any certainty the timing or whether or not such events will occur.

Interest expense, net and Income Taxes

	2Q17			2Q16			% Change		2QYTD17			2QYTD16			% Change
Interest expense	$	1,050		$	1,053		—	%	$	2,257		$	2,435		(7	)%
% of Revenues	0.5		%	0.4		%	25	%	0.5		%	0.5		%	—	%
Income taxes	$	(1,524	)	$	(21,512	)	n/m		$	808		$	(19,438	)	n/m
Effective income tax rate	20.0		%	14.2		%	41	%	(14.0		)%	13.1		%	n/m

2Q17 vs 2Q16

Interest expense was $1,050, consistent with $1,053in the same period last year primarily as a result of lower interest due to lower average debt offset by higher interest rate. Interest expense as a percent of Revenues was 0.5%, compared to 0.4% in the same period last year. The weighted-average outstanding debt and weighted-average interest rate was $131,973 and 2.6%, respectively, compared to $172,037 and 1.9% in the same period last year.

Benefit from income taxes was $1,524, a decrease of 93% from $21,512 in the same period last year. The effective income tax rate was 20.0%, an increase of 41% from 14.2% in the same period last year. The effective income tax rate increase from 14.2% to 20.0% was primarily due to due to the deferred tax write-off of equity awards.

2QYTD17 vs 2QYTD16

Interest expense was $2,257, a decrease of 7% from $2,435 in the same period last year primarily as a result of lower interest due to lower average debt offset by higher interest rate and a change in the fair value of the interest-rate swap of $399 (from a gain of $399 in 2QYTD16 to a gain of $0 in 2QYTD17). Interest expense as a percent of Revenues was 0.5%, consistent with 0.5% in the same period last year. The weighted-average outstanding debt and weighted-average interest rate was $132,643 and 2.5%, respectively, compared to $166,494 and 1.9% in the same period last year.

Provision for income taxes was $808, compared to a benefit from income taxes of $19,438 in the same period last year. The effective income tax rate was (14.0)%, a decrease compared to the effective income tax rate of 13.1% in the same period last year. The effective income tax rate decrease from 13.1% to (14.0)% was primarily due to due to mix of income across various taxing jurisdictions.

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.

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Liquidity Position

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

	2Q17		4Q16		2Q16
Cash and cash equivalents	$	16,124	$	23,497	$	20,287
Working Capital	$	105,303	$	129,048	$	179,057
Long-term debt	$	101,734	$	119,663	$	151,288
Stockholders’ equity	$	146,881	$	156,233	$	206,379
Unused commitments of the Credit Agreement	$	93,750	$	176,550	$	145,250

The Company's reported cash balance is at its lowest level since March 31, 2006 due to more efficient usage of international cash balances. We will continue to evaluate additional alternatives to reduce the amount of cash on our balance sheet but we are limited by a combination of factors such as protected currencies, adverse tax impacts and other operating needs or requirements. The Company's reported working capital is at its lowest level since July 1, 2006 due to an increased focus around a reduction of working capital, including a reduction of safety stock levels and an updated evaluation of on hand inventory levels based on expected demand designed to make our working capital structure more efficient.  The Company's reported long-term debt is at its lowest level since March 31, 2006 due to the results of reduced working capital and cash efficiencies discussed above and a priority placed on debt reduction.

We expect that our cash, the available unused commitments of the Credit Agreement (hereinafter defined), 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.

	2QYTD17			2QYTD16
Net cash provided by (used for) operating activities	$	15,682		$	(13,920	)
Net cash provided by (used for) investing activities	$	(2,453	)	$	(4,381	)
Net cash provided by (used for) financing activities	$	(20,914	)	$	14,331

Net cash provided by (used for) operating activities

Net cash provided by operating activities was $15,682, due primarily to Net loss of $6,581, inclusive of non-cash charges, cash inflows of $6,824 and $4,866 from Inventory and Accounts payable, respectively, partially offset by cash outflows of $7,607 and $5,108 from Accounts receivable and Costs in excess of billings, respectively, compared to net cash used for operating activities of $13,920 in the same period last year, due primarily to Net loss of $129,091, inclusive of non-cash charges, a cash outflow of $28,688, $14,403 and $6,227 from Accounts receivable, Accounts Payable and All other liabilities, respectively, partially offset by cash inflows of $11,380 and $3,849 from All other assets and Inventories, respectively. Changes in the above accounts are based on average Fiscal 2017 and Fiscal 2016 exchange rates, as applicable.

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 $3,875 compared to $4,498 in the same period last year which primarily related to information technology infrastructure, computer hardware and software and vehicles.

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Net cash provided by (used for) financing activities

Long-term debt

Repayment of long-term debt was $17,922 compared to proceeds from long-term debt of $13,918 in the same period last year, which was used to fund common stock repurchases and operations.

Common stock repurchases

The Company made discretionary investments in the form of common stock repurchases of $0 compared to $2,000 in the same period last year. The Company also made tax payments of $477 compared to $796 in the prior year related to share withholding to satisfy employee income taxes due as a result of the vesting of certain restricted stock units.

Since the inception of the repurchase program beginning in April 1999 through September 30, 2016, the Company has repurchased 11,194,933 shares of common stock for an aggregate purchase price of $406,661, or an average purchase price per share of $36.33. 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 September 30, 2016, 1,305,067 shares were available under the most recent 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 is permitted, with certain exceptions, under the Credit Agreement if the Company's consolidated leverage ratio (based on EBITDA) exceeds 3.00.At September 30, 2016, the Company's leverage ratio was 2.79.

Dividends

The Company made discretionary investments in the form of dividends to its stockholders of $3,465 compared to $3,229 in the prior year. While the Company expects to continue to declare quarterly dividends, the payment of future dividends is at the discretion of the Company's Board of Directors (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 regular quarterly dividends not exceeding $15,000 per year 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, the Company is permitted to make other distributions or dividends if such event would not violate a 3.00 to 1.00 consolidated leverage ratio under the Credit Agreement.

Credit Agreement

On May 9, 2016, the Company refinanced its then existing $200,000 credit facility pursuant to a new credit agreement (the "Credit Agreement") with PNC Bank, National Association, as administrative agent, Bank of America, N.A., as syndication agent, and certain other lender parties. The Credit Agreement expires on May 9, 2021. Borrowings under the Credit Agreement are permitted up to a maximum amount of $200,000, and includes up to $15,000 of swing-line loans and $25,000 of letters of credit. The Credit Agreement may be increased by the Company up to an additional $50,000 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) a Base Rate Option equal to the highest of (i) the federal funds open rate, plus fifty (50) basis points (0.5%), (ii) the bank’s prime rate, and (iii) the daily LIBOR rate, plus 100 basis points (1.0%), in each case plus 0% to 1.00% (determined by a leverage ratio based on the Company’s consolidated EBITDA) or (b) a rate per annum equal to the LIBOR rate plus 1.00% to 2.00% (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 interest coverage ratios. The Company’s obligations under the Credit Agreement are secured by substantially all of the assets of the Company’s material direct and indirect subsidiaries that are incorporated (or organized) under the laws of the District of Columbia or under the laws of any state or commonwealth of the United States and are guaranteed by such domestic subsidiaries.

Legal Proceedings

See Note 13 of the Notes to the Consolidated Financial Statements of this Quarterly Report on Form 10‑Q (this "Form 10-Q"), which information is incorporated herein by reference.

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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.

Contingencies

The Company is subject to unclaimed or abandoned property (escheat) laws which require it to turn over to state governmental authorities the property of others held by the Company that has been unclaimed for specified periods of time. Property held by the Company subject to escheat laws primarily includes accounts payable, payroll checks and trade accounts receivable credits. The Company participated in voluntary disclosure programs in all 50 states within the United States and the District of Columbia in an effort to voluntarily comply with state abandoned property laws and settle past due unclaimed property obligations. The Company completed the programs and settled with 49 states and the District of Columbia which resulted in an immaterial charge to the consolidated financial statements during the fiscal year ended March 31, 2014. On May 22, 2013, the Company entered into Delaware’s Voluntary Disclosure Agreement Program in order to voluntarily comply with Delaware’s abandoned property law in exchange for certain protections and benefits. During the second quarter of Fiscal 2017, the Company substantially completed Delaware's Voluntary Disclosure Program which resulted in an immaterial gain to the consolidated financial statements.

Critical Accounting Policies/Impact of Recently Issued Accounting Pronouncements

Critical Accounting Policies

The Company’s critical accounting policies require the most difficult, subjective or complex judgments, often as a result of the need to make estimates about the effect of matters that are inherently uncertain and are the most important to the portrayal of the Company’s consolidated financial statements. The Company’s critical accounting policies are disclosed in Part II, Item 7, "Management’s Discussion and Analysis of Financial Condition and Results of Operations" of the Form 10-K. The significant accounting policies used in the preparation of the Company’s consolidated financial statements are disclosed in Note 2 of the Notes to the Consolidated Financial Statements within the Form 10-K. No additional significant accounting policies have been adopted during Fiscal 2017.

Impact of Recently Issued Accounting Pronouncements

There have been no accounting pronouncements adopted during Fiscal 2017 that have had a material impact on the Company's consolidated financial statements.

Cautionary Forward Looking Statements

Any forward-looking statements contained in this Quarterly Report on Form 10-Q or in documents incorporated herein by reference 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 Form 10-Q. You can identify these forward-looking statements by the fact that they use words such as "should," "anticipate," "estimate," "approximate," "expect," "target," "may," "will," "project," "intend," "plan," "believe" and other words of similar meaning and expression in connection with any discussion of future operating or financial performance. One can also identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. Forward-looking 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, they may include levels of business activity and operating expenses, expenses relating to corporate compliance requirements, cash flows, global economic and business conditions, the timing, costs, and benefits of restructuring programs and other initiatives, successful marketing of the Company's product and services offerings, successful implementation of the Company's integration initiatives, 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 the Form 10-K and our previously filed quarterly reports on Form 10-Q for Fiscal 2017. We can give no assurance that any goal, plan or target set forth in forward-looking statements will be achieved and readers are cautioned not to place undue reliance on such statements, which speak only as of the date made. We undertake no obligation to release publicly any revisions to forward-looking statements as a result of future events or developments and caution you not to unduly rely on any such forward-looking statements.

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Item 3. 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 other financial derivative instruments (other than those specifically noted below) nor does it engage in speculative trading of financial derivatives.

Interest-rate Risk

The Company’s primary interest-rate risk relates to its long-term debt obligations under the Credit Agreement which was $101,400 as of September 30, 2016. As of September 30, 2016, an instantaneous 100 basis point increase in the interest rate of the variable rate debt would reduce the Company’s earnings in the subsequent fiscal quarter by $257 ($158 net of tax) assuming the Company employed no intervention strategies.

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 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.

As of September 30, 2016, 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 1.30 to 1.39 Australian dollar, 1.29 to 1.36 Canadian dollar, 6.48 to 6.66 Danish krone, 0.87 to 0.90 Euro, 18.65 to 18.75 Mexican peso, 8.09 to 8.87 Norwegian kroner, 0.69 to 0.77 British pound sterling, 8.01 to 8.66 Swedish krona, 0.97 to 0.99 Swiss franc and 100.01 to 109.30 Japanese yen, all per U.S. dollar. The total open contracts had a notional amount of $53,849 and will expire within eight months.

Item 4. Controls and Procedures.

Conclusions Regarding the Effectiveness of Disclosure Controls and Procedures

Management, including the Company’s Chief Executive Officer and Chief Financial Officer, 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 October 1, 2016. Based upon this assessment, Management has concluded that the Company’s disclosure controls and procedures were effective as of October 1, 2016 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.

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.

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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.

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PART II. OTHER INFORMATION

Item 6. Exhibits.

Exhibit Number	Description
10.5	Schedules to the Credit Agreement (2)
10.6	Form of Revolving Credit Note (2)
10.7	Form of Swing Line Note (2)
10.8	Form of Intercompany Subordination Agreement (2)
10.9	Form of Patent, Trademark and Copyright Security Agreement (2)
10.10	Form of Assignment and Assumption Agreement (2)
10.11	Form of Guarantor Joinder (2)
10.12	Form of Loan Request (2)
10.13	Form of Swing Loan Request (2)
10.14	Form of Acquisition Compliance Certificate (2)
10.15	Form of Quarterly Compliance Certificate (2)
10.16	Form of U.S. Tax Compliance Certificate (2)
21.1	Subsidiaries of the Registrant (1)
31.1	Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended, and Section 302 of the Sarbanes-Oxley Act of 2002 (1)
31.2	Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended, and Section 302 of the Sarbanes-Oxley Act of 2002 (1)
32.1	Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14(b) of the Securities 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 (1)
101	Interactive Data File
(1)	Filed herewith.
(2)	Filed with the amended Form 8-K for the event dated May 9, 2016

SIGNATURE

Pursuant to the requirements 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: November 4, 2016

/s/ TIMOTHY C. HUFFMYER                                 

Timothy C. Huffmyer

Vice President, Chief Financial Officer,

Treasurer and Principal Accounting Officer

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EXHIBIT INDEX

Exhibit Number	Description
10.5	Schedules to the Credit Agreement (2)
10.6	Form of Revolving Credit Note (2)
10.7	Form of Swing Line Note (2)
10.8	Form of Intercompany Subordination Agreement (2)
10.9	Form of Patent, Trademark and Copyright Security Agreement (2)
10.10	Form of Assignment and Assumption Agreement (2)
10.11	Form of Guarantor Joinder (2)
10.12	Form of Loan Request (2)
10.13	Form of Swing Loan Request (2)
10.14	Form of Acquisition Compliance Certificate (2)
10.15	Form of Quarterly Compliance Certificate (2)
10.16	Form of U.S. Tax Compliance Certificate (2)
21.1	Subsidiaries of the Registrant (1)
31.1	Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended, and Section 302 of the Sarbanes-Oxley Act of 2002 (1)
31.2	Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended, and Section 302 of the Sarbanes-Oxley Act of 2002 (1)
32.1	Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14(b) of the Securities 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 (1)
101	Interactive Data File
(1)	Filed herewith.
(2)	Filed with the amended Form 8-K for the event dated May 9, 2016

30

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
Black Box Corporation of Pennsylvania	Black Box Network Services Black Box Network Services - Technology Product Solutions	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 Holdings Ltd.	Black Box Holdings Ltd.	Cayman Islands
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. de R.L. de C.V.	Black Box de Mexico, S. de R.L. de C.V.	Mexico
Black Box Deutschland GmbH	Black Box Deutschland GmbH	Germany
Black Box International B.V.	Black Box International B.V.	Netherlands

1

Exhibit 21.1

SUBSIDIARIES OF THE REGISTRANT
Legal Name	Doing Business As	State or Other Jurisdiction of Incorporation or Organization
Black Box Software Development Services Limited	Black Box Software Development Services Limited	Ireland
Black Box Network Services AG	Black Box Network Services AG	Switzerland
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 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
InnerWireless, Inc.	Black Box Network Services Black Box Network Services - Wireless	Delaware
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
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

2

Exhibit 21.1

SUBSIDIARIES OF THE REGISTRANT
Legal Name	Doing Business As	State or Other Jurisdiction of Incorporation or Organization
UCI Communications LLC	Black Box Network Services	South Carolina
Teldata Corporation	Black Box Network Services - Tennessee	Tennessee
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 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
Black Box Services Company	Black Box Services Company	Delaware
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
NextiraOne California L.P.	NextiraOne California L.P.	California
NXO Installation, LLC	NXO Installation, LLC	Delaware

3

Exhibit 21.1

SUBSIDIARIES OF THE REGISTRANT
Legal Name	Doing Business As	State or Other Jurisdiction of Incorporation or Organization
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
Scottel Voice & Data, Inc.	Black Box Network Services Black Box Network Services - Pacific	California

4

EX-31.1

Exhibit 31.1

CERTIFICATION

I, Eslie C. Sykes, certify that:

1. I have reviewed this Annual Report on Form 10-Q 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: November 4, 2016

/s/ Eslie C. Sykes                               

Eslie C. Sykes

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-Q 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: November 4, 2016

/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-Q for the period ended October 1, 2016 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/ Eslie C. Sykes                               

Eslie C. Sykes

Chief Executive Officer

November 4, 2016

/s/ Timothy C. Huffmyer                              

Timothy C. Huffmyer

Vice President, Chief Financial Officer and

Treasurer (Principal Accounting Officer)

November 4, 2016

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

Document and Entity Information - shares	6 Months Ended
	Oct. 01, 2016	Oct. 14, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	BLACK BOX CORP
Entity Central Index Key	0000849547
Document Type	10-Q
Document Period End Date	Oct. 01, 2016
Amendment Flag	false
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q2
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		15,148,403

XML

Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 01, 2016	Mar. 31, 2016
Assets
Cash and cash equivalents	$ 16,124	$ 23,497
Accounts receivable, net of allowance for doubtful accounts of $7,022 and $7,808	146,119	139,222
Inventories, net	26,020	42,703
Costs/estimated earnings in excess of billings on uncompleted contracts	71,556	66,664
Other assets	26,023	27,315
Total current assets	285,842	299,401
Property, plant and equipment, net	33,601	34,474
Intangibles, net	73,417	78,181
Deferred tax asset	54,484	57,065
Other assets	7,158	6,673
Total assets	454,502	475,794
Liabilities
Accounts payable	61,820	56,774
Accrued compensation and benefits	23,051	21,493
Deferred revenue	30,161	29,441
Billings in excess of costs/estimated earnings on uncompleted contracts	22,337	20,411
Other liabilities	43,170	42,234
Total current liabilities	180,539	170,353
Long-term debt	101,734	119,663
Other liabilities	25,348	29,545
Total liabilities	307,621	319,561
Stockholders’ equity
Preferred stock authorized 5,000, par value $1.00, none issued	0	0
Common stock authorized 100,000, par value $.001, 15,148 and 15,018 shares outstanding, 26,640 and 26,470 issued	26	26
Additional paid-in capital	505,019	501,839
Retained earnings	70,336	80,553
Accumulated other comprehensive income (loss)	(14,913)	(13,075)
Treasury stock, at cost 11,492 and 11,452 shares	(413,587)	(413,110)
Total stockholders’ equity	146,881	156,233
Total liabilities and stockholders’ equity	$ 454,502	$ 475,794

XML

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Oct. 01, 2016	Mar. 31, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 7,022	$ 7,808
Preferred stock, par value (in US$ per share)	$ 1	$ 1
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	26,640,000	26,470,000
Common stock, shares outstanding	15,148,000	15,018,000
Treasury stock, shares	11,492,000	11,452,000

XML

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Revenues
Products		$ 42,263	$ 44,284	$ 82,144	$ 84,780
Services		176,486	192,554	355,085	381,272
Total		218,749	236,838	437,229	466,052
Cost of sales
Products	[1]	27,213	25,488	50,146	49,160
Services	[1]	137,092	139,944	264,986	275,835
Total	[1]	164,305	165,432	315,132	324,995
Gross profit		54,444	71,406	122,097	141,057
Selling, general & administrative expenses		58,142	61,391	120,624	124,277
Asset impairment loss		536	157,272	536	157,272
Intangibles amortization		2,304	2,604	4,755	5,217
Operating income (loss)		(6,538)	(149,861)	(3,818)	(145,709)
Interest expense, net		1,050	1,053	2,257	2,435
Other expenses (income), net		41	443	(302)	385
Income (loss) before provision for income taxes		(7,629)	(151,357)	(5,773)	(148,529)
Provision (benefit) for income taxes		(1,524)	(21,512)	808	(19,438)
Net income (loss)		$ (6,105)	$ (129,845)	$ (6,581)	$ (129,091)
Earnings (loss) per common share
Basic (in US$ per share)		$ (0.40)	$ (8.45)	$ (0.44)	$ (8.41)
Diluted (in US$ per share)		$ (0.40)	$ (8.45)	$ (0.44)	$ (8.41)
Weighted-average common shares outstanding
Basic (shares)		15,149	15,375	15,088	15,345
Diluted (shares)		15,149	15,375	15,088	15,345
Dividends per share		$ 0.12	$ 0.11	$ 0.24	$ 0.22

[1] Exclusive of depreciation and intangibles amortization.

XML

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (6,105)	$ (129,845)	$ (6,581)	$ (129,091)
Other comprehensive income (loss)
Foreign Currency Translation Adjustment	19	(2,062)	(1,803)	1,226
Defined Benefit Pension
Actuarial gain (loss), net of taxes of $137, ($3), $138, and $0	215	(4)	216	1
Amounts reclassified into results of operations, net of taxes of ($70), $56, ($207), and $112	(110)	85	(324)	170
Derivative Instruments
Net change in fair value of cash flow hedges, net of taxes of ($189), ($76), ($283), and ($137)	(295)	(123)	(443)	(222)
Amounts reclassified into results of operations, net of taxes of $185, $43, $330, and $170	289	69	516	275
Other comprehensive income (loss)	118	(2,035)	(1,838)	1,450
Comprehensive income (loss)	$ (5,987)	$ (131,880)	$ (8,419)	$ (127,641)

XML

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) Parenthetical - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Pension
Actuarial gain (loss), taxes	$ 137	$ (3)	$ 138	$ 0
Actuarial gain (loss) reclassified into results of operations, taxes	(70)	56	(207)	112
Derivative instruments
Net change in fair value of cash flow hedges, taxes	(189)	(76)	(283)	(137)
Amounts reclassified into results of operations, taxes	$ 185	$ 43	$ 330	$ 170

XML

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015
Operating Activities
Net income (loss)	$ (6,581)	$ (129,091)
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities
Intangibles amortization	4,755	5,217
Depreciation	4,600	4,088
Loss (gain) on sale of property	(1,223)	(27)
Deferred taxes	2,119	(23,179)
Stock compensation expense	3,172	3,148
Change in fair value of interest-rate swaps	0	(399)
Asset impairment loss	536	157,272
Provision for obsolete inventory	9,688	469
Provision for (recovery of) doubtful accounts	277	147
Changes in operating assets and liabilities (net of acquisitions)
Accounts receivable	(7,607)	(14,403)
Inventories	6,824	3,849
Costs/estimated earnings in excess of billings on uncompleted contracts	(5,108)	329
All other assets	(326)	11,380
Accounts payable	4,866	(6,227)
Billings in excess of costs/estimated earnings on uncompleted contracts	1,971	2,195
All other liabilities	(2,281)	(28,688)
Net cash provided by (used for) operating activities	15,682	(13,920)
Investing Activities
Capital expenditures	(3,875)	(4,498)
Capital disposals	1,422	117
Net cash provided by (used for) investing activities	(2,453)	(4,381)
Financing Activities
Proceeds (repayments) from long-term debt	(17,922)	13,918
Proceeds (repayments) from short-term debt	1,620	6,434
Deferred financing costs	1,049	0
Purchase of treasury stock	(477)	(2,796)
Payment of dividends	(3,465)	(3,229)
Increase (decrease) in cash overdrafts	379	4
Net cash provided by (used for) financing activities	(20,914)	14,331
Foreign currency exchange impact on cash	312	723
Increase/(decrease) in cash and cash equivalents	(7,373)	(3,247)
Cash and cash equivalents at beginning of period	23,497	23,534
Cash and cash equivalents at end of period	16,124	20,287
Supplemental cash flow
Cash paid for interest	1,784	3,092
Cash paid for income taxes	(818)	1,022
Non-cash financing activities
Dividends payable	1,818	1,692
Capital leases	$ 166	$ 319

XML

Business and Basis of Presentation

6 Months Ended

Oct. 01, 2016

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 40-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.

Basis of Presentation

The accompanying unaudited interim consolidated financial statements of Black Box have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The Company believes that these consolidated financial statements reflect all normal, recurring adjustments needed to present fairly the Company’s results for the interim periods presented. The results as of and for interim periods presented may not be indicative of the results of operations for any other interim period or for the full year. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission ("SEC") for the fiscal year ended March 31, 2016 (the "Form 10-K").

The Company’s fiscal year ends on March 31. The fiscal quarters consist of 13 weeks and end on the Saturday generally nearest each calendar quarter end, adjusted to provide relatively equivalent business days for each fiscal quarter. The actual ending dates for the periods presented in these Notes to the Consolidated Financial Statements as of September 30, 2016 and 2015 were October 1, 2016 and September 26, 2015, respectively. 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. These reclassifications had no effect on reported net income (loss), comprehensive income (loss), cash flows, total assets or total stockholders' equity.

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, property, plant and equipment, intangible assets and goodwill. Actual results could differ from those estimates. Management believes the estimates made are reasonable.

XML

Significant Accounting Policies

6 Months Ended

Oct. 01, 2016

Accounting Policies [Abstract]

Significant Accounting Policies

Significant Accounting Policies

Significant Accounting Policies

The significant accounting policies used in the preparation of the Company’s consolidated financial statements are disclosed in Note 2 of the Notes to the Consolidated Financial Statements within the Form 10-K. No additional significant accounting policies have been adopted during Fiscal 2017.

Recent Accounting Pronouncements

There have been no accounting pronouncements adopted during Fiscal 2017 that have had a material impact on the Company's consolidated financial statements.

XML

Inventories

6 Months Ended

Oct. 01, 2016

Inventory Disclosure [Abstract]

Inventories

Inventories

The Company’s Inventories consist of the following:

	September 30, 2016			March 31, 2016
Raw materials	$	1,809		$	1,897
Finished goods	50,607			60,969
Inventory, gross	52,416			62,866
Excess and obsolete inventory reserves	(26,396		)	(20,163		)
Inventories, net	$	26,020		$	42,703

XML

Intangible Assets

6 Months Ended

Oct. 01, 2016

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:

	September 30, 2016						March 31, 2016
	Gross Carrying Amount		Accum. Amort.		Net Carrying Amount		Gross Carrying Amount		Accum. Amort.		Net Carrying Amount
Definite-lived
Non-compete agreements	$	2,214	$	2,214	$	—	$	2,254	$	2,170	$	84
Customer relationships	122,334		76,114		46,220		122,345		71,445		50,900
Backlog	3,489		3,489		—		3,489		3,489		—
Total	$	128,037	$	81,817	$	46,220	$	128,088	$	77,104	$	50,984
Indefinite-lived
Trademarks	35,450		8,253		27,197		35,450		8,253		27,197
Total	$	163,487	$	90,070	$	73,417	$	163,538	$	85,357	$	78,181

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-compete agreements			Customer relationships			Backlog		Total
March 31, 2016	$	27,197	$	84		$	50,900		$	—	$	78,181
Intangibles Amortization	—		(84		)	(4,671		)	—		(4,755		)
Foreign currency translation adjustment	—		—			(9		)	—		(9		)
September 30, 2016	$	27,197	$	—		$	46,220		$	—	$	73,417

The following table details the estimated intangibles amortization expense for the remainder of Fiscal 2017, each of the succeeding four fiscal years and the periods thereafter.

Fiscal
2017	$	4,640
2018	7,866
2019	6,446
2020	5,951
2021	5,502
Thereafter	15,815
Total	$	46,220

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Indebtedness

6 Months Ended

Oct. 01, 2016

Debt Disclosure [Abstract]

Indebtedness

Indebtedness

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

	September 30, 2016			March 31, 2016
Revolving credit agreement	$	101,400		$	119,000
Other	1,637			1,802
Total debt	$	103,037		$	120,802
Less: current portion (included in Other liabilities)	(1,303		)	(1,139		)
Long-term debt	$	101,734		$	119,663

On May 9, 2016, the Company refinanced its then existing $200,000 credit facility pursuant to a new credit agreement (the "Credit Agreement") with PNC Bank, National Association, as administrative agent, Bank of America, N.A., as syndication agent, and certain other lender parties. The Credit Agreement expires on May 9, 2021. Borrowings under the Credit Agreement are permitted up to a maximum amount of $200,000, and includes up to $15,000 of swing-line loans and $25,000 of letters of credit. The Credit Agreement may be increased by the Company up to an additional $50,000 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) a Base Rate Option equal to the highest of (i) the federal funds open rate, plus fifty (50) basis points (0.5%), (ii) the bank’s prime rate, and (iii) the daily LIBOR rate, plus 100 basis points (1.0%), in each case plus 0% to 1.00% (determined by a leverage ratio based on the Company’s consolidated EBITDA) or (b) a rate per annum equal to the LIBOR rate plus 1.00% to 2.00% (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 interest coverage ratios. The Company’s obligations under the Credit Agreement are secured by substantially all of the assets of the Company’s material direct and indirect subsidiaries that are incorporated (or organized) under the laws of the District of Columbia or under the laws of any state or commonwealth of the United States and are guaranteed by such domestic subsidiaries. As of September 30, 2016, 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 the three-months ended September 30, 2016 was $145,100, $131,973 and 2.6%, respectively, compared to $183,050, $172,037 and 1.9%, respectively, for the three-months ended September 30, 2015. 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 the six-months ended September 30, 2016 was $150,075, $132,643 and 2.5%, respectively, compared to $183,050, $166,494 and 1.9%, respectively, for the six-months ended September 30, 2015.

As of September 30, 2016, the Company had $4,850 outstanding in letters of credit and $93,750 in unused commitments, which are limited by a financial covenant, under the Credit Ag

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Derivative Instruments and Hedging Activities

6 Months Ended

Oct. 01, 2016

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.

The Company enters into foreign currency contracts to hedge exposure to variability in expected fluctuations in foreign currencies. 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.

As of September 30, 2016, 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, all of which have been designated as cash flow hedges. These contracts had a notional amount of $53,849 and will expire within 8 months. There was no hedge ineffectiveness during Fiscal 2017 or Fiscal 2016.

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
		September 30,		March 31,		September 30,		March 31,
	Classification	2016		2016		2016		2016
Derivatives designated as hedging instruments
Foreign currency contracts	Other liabilities (current)					$	581	$	552
Foreign currency contracts	Other assets (current)	$	306	$	882

		Three-months ended						Six-months ended
		September 30						September 30
	Classification	2016			2015			2016			2015
Derivatives designated as hedging instruments
Gain (loss) recognized in other comprehensive income (effective portion), net of taxes	Other comprehensive income	$	(295	)	$	(123	)	$	(443	)	$	(222	)
Amounts reclassified from AOCI into results of operations (effective portion), net of taxes	Selling, general & administrative expenses	289			69			516			275

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Fair Value Disclosures

6 Months Ended

Oct. 01, 2016

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 September 30, 2016, 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(1)	$	21,275	$	11,111	$	—	$	32,386
Foreign currency contracts	$	—	$	306	$	—	$	306
Total Assets at Fair Value	$	21,275	$	11,417	$	—	$	32,692
Liabilities at Fair Value
Foreign currency contracts	$	—	$	581	$	—	$	581

(1) The fair value of pension plan assets is measured annually, thus this value is as of March 31, 2016.

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.

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Stockholder's Equity

6 Months Ended

Oct. 01, 2016

Stockholders' Equity Note [Abstract]

Stockholder's Equity

Stockholder's Equity

Accumulated Other Comprehensive Income

The components of AOCI consisted of the following for the periods presented:

	September 30, 2016			March 31, 2016
Foreign Currency Translation Adjustment	$	(690	)	$	1,113
Derivative Instruments	(182		)	(255		)
Defined Benefit Pension	(14,041		)	(13,933		)
Accumulated other comprehensive income	$	(14,913	)	$	(13,075	)

Dividends

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

Period	Record Date	Payment Date	Rate		Aggregate Value
2Q17	September 30, 2016	October 14, 2016	$	0.12	$	1,818
1Q17	July 1, 2016	July 15, 2016	$	0.12	$	1,811
4Q16	March 31, 2016	April 14, 2016	$	0.11	$	1,652
3Q16	December 24, 2015	January 8, 2016	$	0.11	$	1,694
2Q16	September 25, 2015	October 9, 2015	$	0.11	$	1,692
1Q16	June 26, 2015	July 10, 2015	$	0.11	$	1,691

While the Company expects to continue to declare quarterly dividends, the payment of future dividends is at the discretion of the Company's Board of Directors (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 regularly quarterly dividends not exceeding $15,000 per year 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, the Company is permitted to make other distributions or dividends if such event would not violate a 3.00 to 1.00 consolidated leverage ratio under the Credit Agreement.

Common Stock Repurchases

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

	Three-months ended				Six-months ended
	September 30				September 30
	2016		2015		2016		2015
Shares of common stock purchased	—		—		39,735		141,524
Aggregate purchase price	$	—	$	—	$	477	$	2,796
Average purchase price	$	—	$	—	$	12.01	$	19.75

During the six-month period ended September 30, 2016, the Company made tax payments of $477 and withheld 39,735 shares of common stock, which were designated as treasury shares, at an average price per share of $12.01, in order to satisfy employee income taxes due as a result of the vesting of certain restricted stock units. During the six-month period ended September 30, 2015, the Company made tax payments of $796 and withheld 40,176 shares of common stock, which were designated as treasury shares, at an average price per share of $19.80, in order to satisfy employee income taxes due as a result of the vesting of certain restricted stock units.

Since the inception of its repurchase programs beginning in April 1999 and through September 30, 2016, the Company has repurchased 11,194,933 shares of common stock for an aggregate purchase price of $406,661, or an average purchase price per share of $36.33. 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 September 30, 2016, 1,305,067 shares were available under the most recent 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 is permitted, with certain exceptions, under the Credit Agreement if the Company's consolidated leverage ratio (based on EBITDA) exceeds 3.00. At September 30, 2016, the Company's leverage ratio was 2.79.

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Income Taxes

6 Months Ended

Oct. 01, 2016

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The Company's benefit for income taxes for the three-months ended September 30, 2016 was $1,524, an effective tax rate of 20.0% on loss before provision for income taxes of $7,629, compared to $21,512, an effective tax rate of 14.2% on loss before provision for income taxes of $151,357 for the three-months ended September 30, 2015. The effective tax rate increased from 14.2% to 20.0% was primarily due to the deferred tax write-off of equity awards. The effective tax rate for the six-months ended September 30, 2016 of 20.0% differs from the federal statutory rate primarily due to mix of income across various taxing jurisdictions. The Company's provision for income taxes for the six-months ended September 30, 2016 was $808, an effective tax rate of (14.0)% on loss before benefit for income taxes of $5,773, compared to a benefit for income taxes of $19,438, an effective tax rate of 13.1% on loss before benefit for income taxes of $148,529 for the six-months ended September 30, 2015. The effective tax rate decrease from 13.1% to (14.0)% was primarily due to due to mix of income across various taxing jurisdictions.

The Company provides for income taxes at the end of each interim period based on the estimated effective tax rate adjusted for certain discrete items for the full fiscal year. Cumulative adjustments to the Company's estimate are recorded in the interim period in which a change in the estimated annual effective rate is determined.

Fiscal 2013 through Fiscal 2016 remain open to examination by the Internal Revenue Service ("IRS") and Fiscal 2011 through Fiscal 2016 remain open to examination by certain state and foreign taxing jurisdictions.

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Stock-based Compensation

6 Months Ended

Oct. 01, 2016

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

Stock-based Compensation

Stock-based Compensation

In August 2008, the Company’s stockholders approved the 2008 Long-Term Incentive Plan, as amended (the "Incentive Plan"), which replaced the 1992 Stock Option Plan, as amended, and the 1992 Director Stock Option Plan, as amended. As of September 30, 2016, the Incentive Plan is authorized to issue stock options, restricted stock units and performance shares, among other types of awards, for up to 5,799,395 shares of common stock, par value $0.001 per share (the "common stock").

The Company recognized stock-based compensation expense of $939 and $869 for the three-months ended September 30, 2016 and 2015, respectively and $3,172 and $3,148 for the six-months ended September 30, 2016 and 2015, respectively. The Company recognized total income tax benefit for stock-based compensation arrangements of $349 and $332 for the three-months ended September 30, 2016 and 2015, respectively, and $1,180 and $1,201 for the six-months ended September 30, 2016 and 2015, 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.

	Six-months ended
	September 30
	2016		2015
Expected life (in years)	6.8		7.5
Risk free interest rate	1.6	%	2.0	%
Annual forfeiture rate	1.8	%	1.5	%
Expected Volatility	41.7	%	43.9	%
Dividend yield	3.1	%	1.8	%

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)
March 31, 2016	1,269		$	27.86
Granted	381		11.99
Exercised	—		—
Forfeited or cancelled	(415	)	30.14
September 30, 2016	1,235		$	22.20	5.5	$	728
Exercisable	776		$	27.42	3.2	$	—

The weighted-average grant-date fair value of options granted during the six-months ended September 30, 2016 and 2015 was $3.74 and $7.79, respectively. The intrinsic value of options exercised during the six-months ended September 30, 2016 and 2015 was $0 and $0, respectively. The aggregate intrinsic value in the preceding table is based on the closing stock price of the common stock on September 30, 2016, which was $13.90.

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, 2016	281		$	8.63
Granted	381		3.74
Vested	(133	)	9.00
Forfeited	(70	)	8.31
September 30, 2016	459		$	4.51

As of September 30, 2016, there was $1,657 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 2.3 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, 2016	276		$	19.99
Granted	292		12.08
Vested	(170	)	18.67
Forfeited	(28	)	19.73
September 30, 2016	370		$	14.36

The total fair value of shares that vested during the six-months ended September 30, 2016 and 2015 was $2,039 and $2,979, respectively.

As of September 30, 2016, there was $3,669 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 2.2 years.

Performance share awards

Performance share awards are subject to one of the performance goals - the Company's Relative Total Shareholder Return ("TSR") Ranking or cumulative Adjusted EBITDA - each over a three-year period. The Company’s Relative TSR Ranking metric is based on the three-year cumulative return to stockholders 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.

	Six-months ended
	September 30
	2016		2015
Risk free interest rate	0.9	%	0.9	%
Expected Volatility	45.1	%	39.9	%
Dividend yield	3.4	%	2.0	%

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

	Shares (in 000’s)		Weighted-Average Grant-Date Fair Value
March 31, 2016	260		$	23.14
Granted	198		11.99
Vested	—		—
Forfeited	(109	)	25.70
September 30, 2016	349		$	16.02

The total fair value of shares that vested during the six-months ended September 30, 2016 and 2015 was $0 and $0, respectively.

As of September 30, 2016, there was $1,997 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 2.4 years.

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Earnings (loss) Per Share

6 Months Ended

Oct. 01, 2016

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 table in thousands):

	Three-months ended						Six-months ended
	September 30						September 30
	2016			2015			2016			2015
Net income (loss)	$	(6,105	)	$	(129,845	)	$	(6,581	)	$	(129,091	)
Weighted-average common shares outstanding (basic)	15,149			15,375			15,088			15,345
Effect of dilutive securities from equity awards	—			—			—			—
Weighted-average common shares outstanding (diluted)	15,149			15,375			15,088			15,345
Basic earnings (loss) per common share	$	(0.40	)	$	(8.45	)	$	(0.44	)	$	(8.41	)
Dilutive earnings (loss) per common share	$	(0.40	)	$	(8.45	)	$	(0.44	)	$	(8.41	)

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 1,333,272 and 2,113,322 non-dilutive equity awards outstanding for the three-months ended September 30, 2016 and 2015, respectively, and 1,339,604 and 1,850,305 non-dilutive equity awards outstanding for the six-months ended September 30, 2016 and 2015, respectively, that are not included in the corresponding period Weighted-average common shares outstanding (diluted) computation.

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Segment Information

6 Months Ended

Oct. 01, 2016

Segment Reporting [Abstract]

Segment Information

Segment Information

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.

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
2Q17
Revenues	$	20,954		$	169,782		$	21,309		$	6,704		$	218,749
Gross profit	6,533			37,955			8,517			1,439			54,444
Operating income (loss)	(1,153		)	(6,106		)	469			252			(6,538		)
Depreciation	417			1,691			187			60			2,355
Intangibles amortization	—			2,189			115			—			2,304
Restructuring expense	125			2,126			671			20			2,942
Asset impairment loss	—			536			—			—			536
Capital expenditures	(449		)	1,728			107			417			1,803
Assets (as of September 30)	46,822			354,641			36,033			17,006			454,502
2Q16
Revenues	24,339			185,463			19,945			7,091			236,838
Gross profit	10,903			51,014			7,893			1,596			71,406
Operating income (loss)	(22,912		)	(114,945		)	(5,097		)	(6,907		)	(149,861		)
Depreciation	358			1,512			171			45			2,086
Intangibles amortization	—			2,604			—			—			2,604
Restructuring expense	8			414			437			67			926
Asset impairment loss	25,211			119,547			5,348			7,166			157,272
Capital expenditures	1,841			250			409			81			2,581
Assets (as of September 30)	77,981			411,527			38,277			15,887			543,672
2QYTD17
Revenues	40,039			341,517			42,105			13,568			437,229
Gross profit	15,467			87,098			16,531			3,001			122,097
Operating income (loss)	(259		)	(4,959		)	849			551			(3,818		)
Depreciation	822			3,306			369			103			4,600
Intangibles amortization	—			4,523			232			—			4,755
Restructuring expense	125			2,126			671			20			2,942
Asset impairment loss	—			536			—			—			536
Capital expenditures	826			2,416			201			432			3,875
Assets (as of September 30)	46,822			354,641			36,033			17,006			454,502
2QYTD16
Revenues	45,164			367,481			39,616			13,791			466,052
Gross profit	19,782			102,130			15,838			3,307			141,057
Operating income (loss)	(21,924		)	(112,591		)	(4,778		)	(6,416		)	(145,709		)
Depreciation	712			2,954			331			91			4,088
Intangibles amortization	—			5,217			—			—			5,217
Restructuring expense	20			794			511			104			1,429
Asset impairment loss	25,211			119,547			5,348			7,166			157,272
Capital expenditures	2,241			1,627			521			109			4,498
Assets (as of September 30)	77,981			411,527			38,277			15,887			543,672

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Commitments and Contingencies

6 Months Ended

Oct. 01, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

The Company is subject to unclaimed or abandoned property (escheat) laws which require it to turn over to state governmental authorities the property of others held by the Company that has been unclaimed for specified periods of time. Property held by the Company subject to escheat laws primarily includes accounts payable, payroll checks and trade accounts receivable credits. The Company participated in voluntary disclosure programs in all 50 states within the United States and the District of Columbia in an effort to voluntarily comply with state abandoned property laws and settle past due unclaimed property obligations. The Company completed the programs and settled with 49 states and the District of Columbia which resulted in an immaterial charge to the consolidated financial statements during the fiscal year ended March 31, 2014. On May 22, 2013, the Company entered into Delaware’s Voluntary Disclosure Agreement Program in order to voluntarily comply with Delaware’s abandoned property law in exchange for certain protections and benefits. During the second quarter of Fiscal 2017, the Company has substantially completed Delaware's Voluntary Disclosure Program which resulted in an immaterial gain to the consolidated financial statements.

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.

There has been no other significant or unusual activity during Fiscal 2017.

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Restructuring

6 Months Ended

Oct. 01, 2016

Restructuring and Related Activities [Abstract]

Restructuring

Restructuring

The Company has incurred and continues to incur costs related to facility consolidations, such as idle facility rent obligations and the write-off of leasehold improvements, and employee severance (collectively referred to as “restructuring expense”) in a continued effort to consolidate back office functions and to make its organization more efficient. These restructuring activities are compartmentalized and are not part of an overall plan and therefore the Company cannot estimate the total amount to be incurred in connection with the activity. Employee severance is generally payable within the next twelve months with certain facility costs extending through Fiscal 2019.

The following table summarizes the changes to the restructuring liability for the periods presented.

	Employee Severance			Facility Closures			Total
Balance at March 31, 2016	7,050			234			7,284
Restructuring expense	$	2,817		$	125		$	2,942
Cash expenditures	$	(4,038	)	$	(159	)	$	(4,197	)
Balance at September 30, 2016	$	5,829		$	200		$	6,029

Of the $6,029 above, $5,994 is classified as a current liability under Other liabilities on the Company’s Consolidated Balance Sheets for the period ended September 30, 2016.

The following table summarizes restructuring expense, which is recorded in Selling, general & administrative expenses in the Company’s Consolidated Statements of Operations, for the six months ended September 30, 2016, for the Company’s reporting segments:

	North America Products		North America Services		International Products		International Services		Total
Employee Severance	$	125	$	2,018	$	671	$	3	$	2,817
Facility Closures	$	—	$	108	$	—	$	17	$	125
Total	$	125	$	2,126	$	671	$	20	$	2,942

As previously disclosed, Company management is considering initiatives to reset the business model and align costs with revenue to improve profitability. As a result, during FY17, our profits could be negatively impacted by restructuring expenses resulting from such initiatives, some of which were incurred during 2Q17, which are designed to maximize the efficiency of the cost structure for each of our segments to enhance the Company's profitability. The Company believes there is a significant cost savings for such restructuring initiatives that will provide a return on investment in a relatively short period of time. Such restructuring initiatives have not been formalized and the Company cannot state with any certainty the timing or whether or not such events will occur.

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Inventories (Tables)

6 Months Ended

Oct. 01, 2016

Inventory Disclosure [Abstract]

Schedule of Inventories

The Company’s Inventories consist of the following:

	September 30, 2016			March 31, 2016
Raw materials	$	1,809		$	1,897
Finished goods	50,607			60,969
Inventory, gross	52,416			62,866
Excess and obsolete inventory reserves	(26,396		)	(20,163		)
Inventories, net	$	26,020		$	42,703

During 2Q17, the Company incurred $9,137 of Inventory impairment loss, which included $2,810 in North America Products due to a write-down to lower of cost or market as a result of specific legacy networking product discontinuation and excess inventory given the current demand outlook for North America Products, and $6,327 in North America Services due to a write-down to lower of cost or market as a result of excess inventory given current demand in commercial services within North America Services. The Company is focused on maximizing asset utilization and working capital efficiencies and these reductions will increase cost efficiency in future periods. Based on the demand reviews completed, resulting in the stated inventory impairment loss, the Company does not expect further inventory impairments during Fiscal 2017.

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Intangible Assets (Tables)

6 Months Ended

Oct. 01, 2016

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:

	September 30, 2016						March 31, 2016
	Gross Carrying Amount		Accum. Amort.		Net Carrying Amount		Gross Carrying Amount		Accum. Amort.		Net Carrying Amount
Definite-lived
Non-compete agreements	$	2,214	$	2,214	$	—	$	2,254	$	2,170	$	84
Customer relationships	122,334		76,114		46,220		122,345		71,445		50,900
Backlog	3,489		3,489		—		3,489		3,489		—
Total	$	128,037	$	81,817	$	46,220	$	128,088	$	77,104	$	50,984
Indefinite-lived
Trademarks	35,450		8,253		27,197		35,450		8,253		27,197
Total	$	163,487	$	90,070	$	73,417	$	163,538	$	85,357	$	78,181

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-compete agreements			Customer relationships			Backlog		Total
March 31, 2016	$	27,197	$	84		$	50,900		$	—	$	78,181
Intangibles Amortization	—		(84		)	(4,671		)	—		(4,755		)
Foreign currency translation adjustment	—		—			(9		)	—		(9		)
September 30, 2016	$	27,197	$	—		$	46,220		$	—	$	73,417

Schedule of Expected Amortization Expense

The following table details the estimated intangibles amortization expense for the remainder of Fiscal 2017, each of the succeeding four fiscal years and the periods thereafter.

Fiscal
2017	$	4,640
2018	7,866
2019	6,446
2020	5,951
2021	5,502
Thereafter	15,815
Total	$	46,220

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Indebtedness (Tables)

6 Months Ended

Oct. 01, 2016

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

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

	September 30, 2016			March 31, 2016
Revolving credit agreement	$	101,400		$	119,000
Other	1,637			1,802
Total debt	$	103,037		$	120,802
Less: current portion (included in Other liabilities)	(1,303		)	(1,139		)
Long-term debt	$	101,734		$	119,663

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Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Oct. 01, 2016

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
		September 30,		March 31,		September 30,		March 31,
	Classification	2016		2016		2016		2016
Derivatives designated as hedging instruments
Foreign currency contracts	Other liabilities (current)					$	581	$	552
Foreign currency contracts	Other assets (current)	$	306	$	882

		Three-months ended						Six-months ended
		September 30						September 30
	Classification	2016			2015			2016			2015
Derivatives designated as hedging instruments
Gain (loss) recognized in other comprehensive income (effective portion), net of taxes	Other comprehensive income	$	(295	)	$	(123	)	$	(443	)	$	(222	)
Amounts reclassified from AOCI into results of operations (effective portion), net of taxes	Selling, general & administrative expenses	289			69			516			275

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Fair Value Disclosures (Tables)

6 Months Ended

Oct. 01, 2016

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 September 30, 2016, 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(1)	$	21,275	$	11,111	$	—	$	32,386
Foreign currency contracts	$	—	$	306	$	—	$	306
Total Assets at Fair Value	$	21,275	$	11,417	$	—	$	32,692
Liabilities at Fair Value
Foreign currency contracts	$	—	$	581	$	—	$	581

(1) The fair value of pension plan assets is measured annually, thus this value is as of March 31, 2016.

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Stockholder's Equity (Tables)

6 Months Ended

Oct. 01, 2016

Stockholders' Equity Note [Abstract]

Schedule of Accumulated Other Comprehensive Income

The components of AOCI consisted of the following for the periods presented:

	September 30, 2016			March 31, 2016
Foreign Currency Translation Adjustment	$	(690	)	$	1,113
Derivative Instruments	(182		)	(255		)
Defined Benefit Pension	(14,041		)	(13,933		)
Accumulated other comprehensive income	$	(14,913	)	$	(13,075	)

Schedule of Dividends

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

Period	Record Date	Payment Date	Rate		Aggregate Value
2Q17	September 30, 2016	October 14, 2016	$	0.12	$	1,818
1Q17	July 1, 2016	July 15, 2016	$	0.12	$	1,811
4Q16	March 31, 2016	April 14, 2016	$	0.11	$	1,652
3Q16	December 24, 2015	January 8, 2016	$	0.11	$	1,694
2Q16	September 25, 2015	October 9, 2015	$	0.11	$	1,692
1Q16	June 26, 2015	July 10, 2015	$	0.11	$	1,691

Schedule of Common Stock Repurchases

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

	Three-months ended				Six-months ended
	September 30				September 30
	2016		2015		2016		2015
Shares of common stock purchased	—		—		39,735		141,524
Aggregate purchase price	$	—	$	—	$	477	$	2,796
Average purchase price	$	—	$	—	$	12.01	$	19.75

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Stock-based Compensation (Tables)

6 Months Ended

Oct. 01, 2016

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

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.

	Six-months ended
	September 30
	2016		2015
Expected life (in years)	6.8		7.5
Risk free interest rate	1.6	%	2.0	%
Annual forfeiture rate	1.8	%	1.5	%
Expected Volatility	41.7	%	43.9	%
Dividend yield	3.1	%	1.8	%

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)
March 31, 2016	1,269		$	27.86
Granted	381		11.99
Exercised	—		—
Forfeited or cancelled	(415	)	30.14
September 30, 2016	1,235		$	22.20	5.5	$	728
Exercisable	776		$	27.42	3.2	$	—

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, 2016	281		$	8.63
Granted	381		3.74
Vested	(133	)	9.00
Forfeited	(70	)	8.31
September 30, 2016	459		$	4.51

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, 2016	276		$	19.99
Granted	292		12.08
Vested	(170	)	18.67
Forfeited	(28	)	19.73
September 30, 2016	370		$	14.36

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.

	Six-months ended
	September 30
	2016		2015
Risk free interest rate	0.9	%	0.9	%
Expected Volatility	45.1	%	39.9	%
Dividend yield	3.4	%	2.0	%

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, 2016	260		$	23.14
Granted	198		11.99
Vested	—		—
Forfeited	(109	)	25.70
September 30, 2016	349		$	16.02

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Earnings (loss) Per Share (Tables)

6 Months Ended

Oct. 01, 2016

Earnings Per Share [Abstract]

Schedule of Earnings (Loss) 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 table in thousands):

	Three-months ended						Six-months ended
	September 30						September 30
	2016			2015			2016			2015
Net income (loss)	$	(6,105	)	$	(129,845	)	$	(6,581	)	$	(129,091	)
Weighted-average common shares outstanding (basic)	15,149			15,375			15,088			15,345
Effect of dilutive securities from equity awards	—			—			—			—
Weighted-average common shares outstanding (diluted)	15,149			15,375			15,088			15,345
Basic earnings (loss) per common share	$	(0.40	)	$	(8.45	)	$	(0.44	)	$	(8.41	)
Dilutive earnings (loss) per common share	$	(0.40	)	$	(8.45	)	$	(0.44	)	$	(8.41	)

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Segment Information (Tables)

6 Months Ended

Oct. 01, 2016

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
2Q17
Revenues	$	20,954		$	169,782		$	21,309		$	6,704		$	218,749
Gross profit	6,533			37,955			8,517			1,439			54,444
Operating income (loss)	(1,153		)	(6,106		)	469			252			(6,538		)
Depreciation	417			1,691			187			60			2,355
Intangibles amortization	—			2,189			115			—			2,304
Restructuring expense	125			2,126			671			20			2,942
Asset impairment loss	—			536			—			—			536
Capital expenditures	(449		)	1,728			107			417			1,803
Assets (as of September 30)	46,822			354,641			36,033			17,006			454,502
2Q16
Revenues	24,339			185,463			19,945			7,091			236,838
Gross profit	10,903			51,014			7,893			1,596			71,406
Operating income (loss)	(22,912		)	(114,945		)	(5,097		)	(6,907		)	(149,861		)
Depreciation	358			1,512			171			45			2,086
Intangibles amortization	—			2,604			—			—			2,604
Restructuring expense	8			414			437			67			926
Asset impairment loss	25,211			119,547			5,348			7,166			157,272
Capital expenditures	1,841			250			409			81			2,581
Assets (as of September 30)	77,981			411,527			38,277			15,887			543,672
2QYTD17
Revenues	40,039			341,517			42,105			13,568			437,229
Gross profit	15,467			87,098			16,531			3,001			122,097
Operating income (loss)	(259		)	(4,959		)	849			551			(3,818		)
Depreciation	822			3,306			369			103			4,600
Intangibles amortization	—			4,523			232			—			4,755
Restructuring expense	125			2,126			671			20			2,942
Asset impairment loss	—			536			—			—			536
Capital expenditures	826			2,416			201			432			3,875
Assets (as of September 30)	46,822			354,641			36,033			17,006			454,502
2QYTD16
Revenues	45,164			367,481			39,616			13,791			466,052
Gross profit	19,782			102,130			15,838			3,307			141,057
Operating income (loss)	(21,924		)	(112,591		)	(4,778		)	(6,416		)	(145,709		)
Depreciation	712			2,954			331			91			4,088
Intangibles amortization	—			5,217			—			—			5,217
Restructuring expense	20			794			511			104			1,429
Asset impairment loss	25,211			119,547			5,348			7,166			157,272
Capital expenditures	2,241			1,627			521			109			4,498
Assets (as of September 30)	77,981			411,527			38,277			15,887			543,672

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Restructuring (Tables)

6 Months Ended

Oct. 01, 2016

Restructuring and Related Activities [Abstract]

Changes to Restructuring Liability

The following table summarizes the changes to the restructuring liability for the periods presented.

	Employee Severance			Facility Closures			Total
Balance at March 31, 2016	7,050			234			7,284
Restructuring expense	$	2,817		$	125		$	2,942
Cash expenditures	$	(4,038	)	$	(159	)	$	(4,197	)
Balance at September 30, 2016	$	5,829		$	200		$	6,029

Restructuring and Related Costs

The following table summarizes restructuring expense, which is recorded in Selling, general & administrative expenses in the Company’s Consolidated Statements of Operations, for the six months ended September 30, 2016, for the Company’s reporting segments:

	North America Products		North America Services		International Products		International Services		Total
Employee Severance	$	125	$	2,018	$	671	$	3	$	2,817
Facility Closures	$	—	$	108	$	—	$	17	$	125
Total	$	125	$	2,126	$	671	$	20	$	2,942

As previously disclosed, Company management is considering initiatives to reset the business model and align costs with revenue to improve profitability. As a result, during FY17, our profits could be negatively impacted by restructuring expenses resulting from such initiatives, some of which were incurred during 2Q17, which are designed to maximize the efficiency of the cost structure for each of our segments to enhance the Company's profitability. The Company believes there is a significant cost savings for such restructuring initiatives that will provide a return on investment in a relatively short period of time. Such restructuring initiatives have not been formalized and the Company cannot state with any certainty the timing or whether or not such events will occur.

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Business and Basis of Presentation (Details)	6 Months Ended
	Oct. 01, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of weeks in a fiscal quarter (expressed as number of days)	91 days

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Inventories (Details) - USD ($) $ in Thousands	Oct. 01, 2016	Mar. 31, 2016
Inventory Disclosure [Abstract]
Raw materials	$ 1,809	$ 1,897
Finished goods	50,607	60,969
Inventory, gross	52,416	62,866
Excess and obsolete inventory reserves	(26,396)	(20,163)
Inventories, net	$ 26,020	$ 42,703

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Intangible Assets (Details) - USD ($) $ in Thousands	Oct. 01, 2016	Mar. 31, 2016
Intangible Assets (Excluding Goodwill) [Line Items]
Definite-lived intangible assets, gross carrying amount	$ 128,037	$ 128,088
Definite-lived intangible assets, accumulated amortization	81,817	77,104
Definite-llved intangible assets, net carrying amount	46,220	50,984
Total intangible assets, gross carrying amount	163,487	163,538
Total intangible assets, accumulated amortization	90,070	85,357
Total intangible assets, net carrying amount	73,417	78,181
Non-compete agreements
Intangible Assets (Excluding Goodwill) [Line Items]
Definite-lived intangible assets, gross carrying amount	2,214	2,254
Definite-lived intangible assets, accumulated amortization	2,214	2,170
Definite-llved intangible assets, net carrying amount	0	84
Customer relationships
Intangible Assets (Excluding Goodwill) [Line Items]
Definite-lived intangible assets, gross carrying amount	122,334	122,345
Definite-lived intangible assets, accumulated amortization	76,114	71,445
Definite-llved intangible assets, net carrying amount	46,220	50,900
Total intangible assets, net carrying amount	46,220	50,900
Backlog
Intangible Assets (Excluding Goodwill) [Line Items]
Definite-lived intangible assets, gross carrying amount	3,489	3,489
Definite-lived intangible assets, accumulated amortization	3,489	3,489
Definite-llved intangible assets, net carrying amount	0	0
Trademarks
Intangible Assets (Excluding Goodwill) [Line Items]
Indefinite-lived intangible assets, gross carrying amount	35,450	35,450
Indefinite-lived intangible assets, accumulated amortization	8,253	8,253
Indefinite-lived intangible assets, net carrying amount	27,197	27,197
Total intangible assets, net carrying amount	$ 27,197	$ 27,197

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Intangible Assets (Changes in Carrying Amount) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Intangible Assets [Roll Forward]
March 31, 2016			$ 78,181
Intangibles Amortization	$ (2,304)	$ (2,604)	(4,755)	$ (5,217)
Foreign currency translation adjustment			(9)
September 30, 2016	73,417		73,417
Trademarks
Intangible Assets [Roll Forward]
March 31, 2016			27,197
Intangibles Amortization			0
Foreign currency translation adjustment			0
September 30, 2016	27,197		27,197
Non-compete agreements
Intangible Assets [Roll Forward]
March 31, 2016			84
Intangibles Amortization			(84)
Foreign currency translation adjustment			0
September 30, 2016	0		0
Customer relationships
Intangible Assets [Roll Forward]
March 31, 2016			50,900
Intangibles Amortization			(4,671)
Foreign currency translation adjustment			(9)
September 30, 2016	$ 46,220		$ 46,220

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Intangible Assets (Expected Future Amortization Expense) (Details) - USD ($) $ in Thousands	Oct. 01, 2016	Mar. 31, 2016
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2017	$ 4,640
2018	7,866
2019	6,446
2020	5,951
2021	5,502
Thereafter	15,815
Definite-llved intangible assets, net carrying amount	$ 46,220	$ 50,984

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Indebtedness (Long-Term Debt) (Details) - USD ($) $ in Thousands	Oct. 01, 2016	Mar. 31, 2016
Debt Instrument [Line Items]
Debt	$ 103,037	$ 120,802
Less: current portion (included in Other liabilities)	(1,303)	(1,139)
Long-term debt	101,734	119,663
Revolving credit agreement
Debt Instrument [Line Items]
Debt	101,400	119,000
Other
Debt Instrument [Line Items]
Debt	$ 1,637	$ 1,802

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Indebtedness (Revolving Credit Agreement) (Details) - USD ($)		3 Months Ended		6 Months Ended
	May 09, 2016	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Revolving credit agreement
Revolving Credit Agreement [Line Items]
Maximum borrowing capacity	$ 200,000,000
Additional credit available (up to)	$ 50,000,000
Maximum amount outstanding		$ 145,100,000	$ 183,050,000	$ 150,075,000	$ 183,050,000
Weighted-average amount outstanding		$ 131,973,000	$ 172,037,000	$ 132,643,000	$ 166,494,000
Weighted-average interest rate		2.60%	1.90%	2.50%	1.90%
Unused commitments		$ 93,750,000		$ 93,750,000
Revolving credit agreement | Variable component | Minimum
Revolving Credit Agreement [Line Items]
Basis spread on variable rate	0.00%
Revolving credit agreement | Variable component | Maximum
Revolving Credit Agreement [Line Items]
Basis spread on variable rate	1.00%
Revolving credit agreement | Federal Funds Effective Swap Rate | Variable component
Revolving Credit Agreement [Line Items]
Basis spread on variable rate	0.50%
Revolving credit agreement | LIBOR | Variable component
Revolving Credit Agreement [Line Items]
Basis spread on variable rate	1.00%
Revolving credit agreement | LIBOR | Variable component | Minimum
Revolving Credit Agreement [Line Items]
Basis spread on variable rate	1.00%
Revolving credit agreement | LIBOR | Variable component | Maximum
Revolving Credit Agreement [Line Items]
Basis spread on variable rate	2.00%
Swing-line loans
Revolving Credit Agreement [Line Items]
Maximum borrowing capacity	$ 15,000,000
Letters of credit
Revolving Credit Agreement [Line Items]
Maximum borrowing capacity	$ 25,000,000
Amount outstanding		$ 4,850,000		$ 4,850,000

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Derivative Instruments and Hedging Activities (Details) - Foreign currency contracts - Derivatives designated as hedging instruments - Cash flow hedging [Member] $ in Thousands	6 Months Ended
	Oct. 01, 2016 USD ($)
Derivative [Line Items]
Notional amount	$ 53,849
Remaining maturity	8 months

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Derivative Instruments and Hedging Activities (Effect on Consolidated Balance Sheets) (Details) - Derivatives designated as hedging instruments - Foreign currency contracts $ in Thousands	Mar. 31, 2016 USD ($)
Other liabilities (current)
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 552
Other assets (current)
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 882

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Derivative Instruments and Hedging Activities (Effect on Consolidated Statements of Operations) (Details) - Derivatives designated as hedging instruments - Foreign currency contracts - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Other comprehensive income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income (effective portion), net of taxes	$ (295)	$ (123)	$ (443)	$ (222)
Selling, general & administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from AOCI into results of operations (effective portion), net of taxes	$ 289	$ 69	$ 516	$ 275

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Fair Value Disclosures (Details) - USD ($) $ in Thousands		Oct. 01, 2016	Mar. 31, 2016
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Defined benefit pension plan assets, fair value	[1]	$ 32,386
Derivative asset, fair value		32,692
Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Defined benefit pension plan assets, fair value	[1]	21,275
Derivative asset, fair value		21,275
Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Defined benefit pension plan assets, fair value	[1]	11,111
Derivative asset, fair value		11,417
Derivatives designated as hedging instruments | Recurring [Member] | Foreign currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value		306
Derivative liability, fair value		581
Other assets (current) | Derivatives designated as hedging instruments | Foreign currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value			$ 882
Other assets (current) | Derivatives designated as hedging instruments | Level 2 [Member] | Foreign currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value		306
Other liabilities (current) | Derivatives designated as hedging instruments | Foreign currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value			$ 552
Other liabilities (current) | Derivatives designated as hedging instruments | Level 2 [Member] | Foreign currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value		$ 581

[1] The fair value of pension plan assets is measured annually, thus this value is as of March 31, 2016.

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Stockholder's Equity (Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	Oct. 01, 2016	Mar. 31, 2016
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign Currency Translation Adjustment	$ (690)	$ 1,113
Derivative Instruments	(182)	(255)
Defined Benefit Pension	(14,041)	(13,933)
Accumulated other comprehensive income	$ (14,913)	$ (13,075)

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Stockholder's Equity (Dividends) (Details)	6 Months Ended
	Oct. 01, 2016 USD ($)	Jul. 01, 2016 USD ($) $ / shares	Mar. 31, 2016 USD ($) $ / shares	Dec. 24, 2015 USD ($) $ / shares	Sep. 26, 2015 USD ($)	Sep. 25, 2015 USD ($) $ / shares	Jun. 26, 2015 USD ($) $ / shares	Dec. 27, 2014 USD ($) $ / shares
Stockholders' Equity Note [Abstract]
Dividends, rate (per share) | $ / shares		$ 0.12	$ 0.12	$ 0.11		$ 0.11	$ 0.11	$ 0.11
Dividends, aggregate value	$ 1,818,000	$ 1,818,000	$ 1,811,000	$ 1,652,000	$ 1,692,000	$ 1,694,000	$ 1,692,000	$ 1,691,000
Maximum regular quarterly dividends per year permitted under credit agreement	$ 15,000
Consolidated leverage ratio	3.00

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Stockholder's Equity (Common Stock Repurchases) (Details) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		207 Months Ended
	Oct. 01, 2016 USD ($) $ / shares shares	Sep. 26, 2015 USD ($) $ / shares shares	Oct. 01, 2016 USD ($) $ / shares shares	Sep. 26, 2015 USD ($) $ / shares shares	Jul. 02, 2016 USD ($) $ / shares shares
Stockholders' Equity Note [Abstract]
Common stock purchased (shares)	0	0	39,735	141,524	11,194,933
Aggregate purchase price | $	$ 0	$ 0	$ 477	$ 2,796	$ 406,661
Average purchase price (in US$ per share) | $ / shares	$ 0.00	$ 0.00	$ 12.01	$ 19.75	$ 36.33
Payment related to tax withholding for share-based compensation | $			$ 477	$ 796
Shares paid for tax withholding for share-based compensation (shares)			39,735	40,176
Average price per share for shares repurchased from employees for tax payment for share-based compensation (in US$ per share) | $ / shares			$ 12.01	$ 19.80
Stock repurchase programs, remaining number of shares authorized to be repurchased	1,305,067		1,305,067
Leverage ratio at which common stock repurchases are restricted under Credit Agreement	3.00		3.00
Leverage ratio under credit agreement	2.79		2.79

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Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Income Tax Disclosure [Abstract]
Provision (benefit) for income taxes	$ (1,524)	$ (21,512)	$ 808	$ (19,438)
Effective tax rate	20.00%	14.20%	(14.00%)	13.10%
Income before provision for income taxes	$ (7,629)	$ (151,357)	$ (5,773)	$ (148,529)

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Stock-based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of common stock shares authorized to issue (shares)	5,799,395
Common stock, par value (in dollars per share)	$ 0.001		$ 0.001
Stock-based compensation expense	$ 939	$ 869
Tax benefit from stock-based compensation expense	$ 349	$ 332

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Stock-based Compensation (Stock Options) (Details) - Stock options - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015
Stock-based Compensation Arrangements [Line Items]
Vesting period	3 years
Contractual life	10 years
Stock-based Compensation, Fair Value Assumptions [Abstract]
Expected life (in years)	6 years 10 months	7 years 6 months
Risk free interest rate	1.60%	2.00%
Annual forfeiture rate	1.80%	1.50%
Expected Volatility	41.70%	43.90%
Dividend yield	3.10%	1.80%
Stock-based Compensation, Shares (in 000's) [Roll Forward]
Outstanding, beginning (shares)	1,269
Granted (shares)	381
Exercised (shares)	0
Forfeited or cancelled (shares)	(415)
Outstanding, ending (shares)	1,235
Exercisable (shares)	776
Stock-based Compensation, Weighted Average Exercise Price (Per Share) [Roll Forward]
Outstanding, beginning (in US$ per share)	$ 27.86
Granted (in US$ per share)	11.99
Exercised (in US$ per share)	0.00
Forfeited or cancelled (in US$ per share)	30.14
Outstanding, ending (in US$ per share)	22.20
Exercisable (in US$ per share)	$ 27.42
Stock-based Compensation, Additional Disclosures [Abstract]
Outstanding, Weighted Average Remaining Contractual Life	5 years 6 months
Exercisable, Weighted Average Remaining Contractual Life	3 years 2 months
Outstanding, Intrinsic Value	$ 728
Exercisable, Intrinsic Value	0
Total instrinsic value of options exercised	$ 0	$ 0
Closing stock price (in US$ per share)	$ 13.9
Stock-based Compensation, Nonvested, Shares (in 000's) [Roll Forward]
Non-vested, beginning (shares)	281
Granted (shares)	381
Vested (shares)	(133)
Forfeited (shares)	(70)
Non-vested, ending (shares)	459
Stock-based Compensation, Nonvested, Weighted Average Grant Date Fair Value (Per Share) [Roll Forward]
Non-vested, beginning (in US$ per share)	$ 8.63
Granted (in US$ per share)	3.74	$ 7.79
Vested (in US$ per share)	9.00
Forfeited (in US$ per share)	8.31
Non-vested, ending	$ 4.51
Total unrecognized pre-tax stock-based compensation expense related to non-vested shares	$ 1,657
Weighted-average period of recognition	2 years 3 months

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Stock-based Compensation (Restricted Stock Units) (Details) - Restricted stock units - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015
Stock-based Compensation Arrangements [Line Items]
Vesting period	3 years
Stock-based Compensation, Nonvested, Shares (in 000's) [Roll Forward]
Outstanding, beginning (shares)	276
Granted (shares)	292
Vested (shares)	(170)
Forfeited (shares)	(28)
Outstanding, ending (shares)	370
Stock-based Compensation, Nonvested, Weighted Average Grant Date Fair Value (Per Share) [Roll Forward]
Outstanding, beginning (in US$ per share)	$ 19.99
Granted (in US$ per share)	12.08
Vested (in US$ per share)	18.67
Forfeited (in US$ per share)	19.73
Outstanding, ending (in US$ per share)	$ 14.36
Total fair value of shares vested	$ 2,039	$ 2,979
Total unrecognized pre-tax stock-based compensation expense related to non-vested shares	$ 3,669
Weighted-average period of recognition	2 years 2 months

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Stock-based Compensation (Performance Share Awards) (Details) - Performance share awards - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015
Stock-based Compensation Arrangements [Line Items]
Performance goals measuring period	3 years
Stock-based Compensation, Fair Value Assumptions [Abstract]
Risk free interest rate	0.90%	0.90%
Expected Volatility	45.10%	39.90%
Dividend yield	3.40%	2.00%
Stock-based Compensation, Nonvested, Shares (in 000's) [Roll Forward]
Outstanding, beginning (shares)	260
Granted (shares)	198
Vested (shares)	0
Forfeited (shares)	(109)
Outstanding, ending (shares)	349
Stock-based Compensation, Nonvested, Weighted Average Grant Date Fair Value (Per Share) [Roll Forward]
Outstanding, beginning (in US$ per share)	$ 23.14
Granted (in US$ per share)	11.99
Vested (in US$ per share)	0.00
Forfeited (in US$ per share)	25.70
Outstanding, ending (in US$ per share)	$ 16.02
Total fair value of shares vested	$ 0	$ 0
Total unrecognized pre-tax stock-based compensation expense related to non-vested shares	$ 1,997
Weighted-average period of recognition	2 years 5 months

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Earnings (loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Earnings Per Share [Abstract]
Net income (loss)	$ (6,105)	$ (129,845)	$ (6,581)	$ (129,091)
Weighted-average common shares outstanding (basic)	15,149,000	15,375,000	15,088,000	15,345,000
Effect of dilutive securities from equity awards (shares)	0	0	0	0
Weighted-average common shares outstanding (diluted)	15,149,000	15,375,000	15,088,000	15,345,000
Basic earnings (loss) per common share (in US$ per share)	$ (0.40)	$ (8.45)	$ (0.44)	$ (8.41)
Diluted earnings (loss) per common share (in US$ per share)	$ (0.40)	$ (8.45)	$ (0.44)	$ (8.41)
Non-dilutive equity awards excluded from computation of weighted-average common shares outstanding (shares)	1,333,272	2,113,322

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Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2016 USD ($)	Sep. 26, 2015 USD ($)	Oct. 01, 2016 USD ($) segment	Sep. 26, 2015 USD ($)	Mar. 31, 2016 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment			4
Revenues	$ 218,749	$ 236,838	$ 437,229	$ 466,052
Gross profit	54,444	71,406	122,097	141,057
Operating income (loss)	(6,538)	(149,861)	(3,818)	(145,709)
Depreciation	2,355	2,086	4,600	4,088
Intangibles amortization	2,304	2,604	4,755	5,217
Restructuring expense	2,942	926	2,942	1,429
Asset impairment loss	536	157,272	536	157,272
Capital expenditures	1,803	2,581	3,875	4,498
Assets	454,502	543,672	454,502	543,672	$ 475,794
North America Products
Segment Reporting Information [Line Items]
Restructuring expense		8	125
North America Services
Segment Reporting Information [Line Items]
Restructuring expense		414	2,126
International Products
Segment Reporting Information [Line Items]
Restructuring expense		437	671
International Services
Segment Reporting Information [Line Items]
Restructuring expense		67	20
Operating Segments | North America Products
Segment Reporting Information [Line Items]
Revenues	20,954	24,339	40,039	45,164
Gross profit	6,533	10,903	15,467	19,782
Operating income (loss)	(1,153)	(22,912)	(259)	(21,924)
Depreciation	417	358	822	712
Intangibles amortization	0	0	0	0
Restructuring expense	125			20
Asset impairment loss	0	25,211	0	25,211
Capital expenditures	(449)	1,841	826	2,241
Assets	46,822	77,981	46,822	77,981
Operating Segments | North America Services
Segment Reporting Information [Line Items]
Revenues	169,782	185,463	341,517	367,481
Gross profit	37,955	51,014	87,098	102,130
Operating income (loss)	(6,106)	(114,945)	(4,959)	(112,591)
Depreciation	1,691	1,512	3,306	2,954
Intangibles amortization	2,189	2,604	4,523	5,217
Restructuring expense	2,126			794
Asset impairment loss	536	119,547	536	119,547
Capital expenditures	1,728	250	2,416	1,627
Assets	354,641	411,527	354,641	411,527
Operating Segments | International Products
Segment Reporting Information [Line Items]
Revenues	21,309	19,945	42,105	39,616
Gross profit	8,517	7,893	16,531	15,838
Operating income (loss)	469	(5,097)	849	(4,778)
Depreciation	187	171	369	331
Intangibles amortization	115	0	232	0
Restructuring expense	671			511
Asset impairment loss	0	5,348	0	5,348
Capital expenditures	107	409	201	521
Assets	36,033	38,277	36,033	38,277
Operating Segments | International Services
Segment Reporting Information [Line Items]
Revenues	6,704	7,091	13,568	13,791
Gross profit	1,439	1,596	3,001	3,307
Operating income (loss)	252	(6,907)	551	(6,416)
Depreciation	60	45	103	91
Intangibles amortization	0	0	0	0
Restructuring expense	20			104
Asset impairment loss	0	7,166	0	7,166
Capital expenditures	417	81	432	109
Assets	$ 17,006	$ 15,887	$ 17,006	$ 15,887

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Restructuring - Summarized Changes to Restructuring Liability (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Restructuring Reserve [Roll Forward]
Balance at March 31, 2016			$ 7,284
Restructuring expense	$ 2,942	$ 926	2,942	$ 1,429
Cash expenditures			(4,197)
Balance at September 30, 2016	6,029		6,029
Other Liabilities
Restructuring Reserve [Roll Forward]
Restructuring reserve, current	5,994		5,994
Employee Severance
Restructuring Reserve [Roll Forward]
Balance at March 31, 2016			7,050
Restructuring expense			2,817
Cash expenditures			(4,038)
Balance at September 30, 2016	5,829		5,829
Facility Closures
Restructuring Reserve [Roll Forward]
Balance at March 31, 2016			234
Restructuring expense			125
Cash expenditures			(159)
Balance at September 30, 2016	$ 200		$ 200

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Restructuring - Restructuring and Related Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring expense	$ 2,942	$ 926	$ 2,942	$ 1,429
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring expense			2,817
Facility Closures
Restructuring Cost and Reserve [Line Items]
Restructuring expense			125
North America Products
Restructuring Cost and Reserve [Line Items]
Restructuring expense		8	125
North America Products | Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring expense			125
North America Products | Facility Closures
Restructuring Cost and Reserve [Line Items]
Restructuring expense			0
North America Services
Restructuring Cost and Reserve [Line Items]
Restructuring expense		414	2,126
North America Services | Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring expense			2,018
North America Services | Facility Closures
Restructuring Cost and Reserve [Line Items]
Restructuring expense			108
International Products
Restructuring Cost and Reserve [Line Items]
Restructuring expense		437	671
International Products | Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring expense			671
International Products | Facility Closures
Restructuring Cost and Reserve [Line Items]
Restructuring expense			0
International Services
Restructuring Cost and Reserve [Line Items]
Restructuring expense		$ 67	20
International Services | Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring expense			3
International Services | Facility Closures
Restructuring Cost and Reserve [Line Items]
Restructuring expense			$ 17