Stock Options and Stock-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2014

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Weighted Average Assumptions

The following weighted average assumptions were used for fiscal years ended March 31, 2012, 2013 and 2014:

	Fiscal 2012		Fiscal 2013		Fiscal 2014
Expected volatility		46% to 47%		47%		47%
Risk free interest rate		0.7% to 1.9%		0.6% to 0.8%		0.7% to 1.5%
Dividend yield		0.0%		0.0%		0.0%
Weighted average option life		4.6 to 5.0 years		4.5 years		4.4 to 4.5 years

Stock Compensation Expense for Time Based Options and Performance Based Options

The table below shows the amounts recognized in the financial statements for the fiscal years ended March 31, 2012, 2013 and 2014.

	Fiscal 2012		Fiscal 2013		Fiscal 2014
Cost of revenue	$	484,000	$	461,000	$	672,000
General and administrative		1,792,000		536,000		1,468,000
Total cost of stock-based compensation included in income before income tax		2,276,000		997,000		2,140,000
Amount of income tax benefit recognized		897,000		395,000		835,000
Amount charged to net income	$	1,379,000	$	602,000	$	1,305,000
Effect on basic earnings per share	$	0.06	$	0.03	$	0.06
Effect on diluted earnings per share	$	0.06	$	0.03	$	0.06

Stock Options

Summarized information for all stock options for the past three fiscal years follows:

	Fiscal 2012			Fiscal 2013			Fiscal 2014
Options outstanding — beginning of the year		1,627,324			1,502,046			1,100,952
Options granted		298,150			246,200			441,550
Options exercised		(346,128	)		(348,090	)		(310,729	)
Options cancelled/forfeited		(77,300	)		(299,204	)		(115,789	)
Options outstanding — end of year		1,502,046			1,100,952			1,115,984
During the year, weighted average exercise price of:
Options granted	$	25.22		$	23.04		$	33.06
Options exercised	$	12.50		$	12.80		$	15.31
Options forfeited	$	17.05		$	21.26		$	23.33
At the end of the year:
Price range of outstanding options	$	7.75-$26.38		$	7.78-$26.38		$	7.78-$45.55
Weighted average exercise price per share	$	17.10		$	18.66		$	24.80
Options available for future grants		1,232,052			1,285,056			959,295
Exercisable options		776,308			557,924			430,294

Stock Options Outstanding and Exercisable

The following table summarizes the status of stock options outstanding and exercisable at March 31, 2014:

Range of Exercise Prices	Number of Outstanding Options		Weighted Average Remaining Contractual Life		Outstanding Options — Weighted Average Exercise Price		Exercisable Options — Number of Exercisable Options		Exercisable Options — Weighted Average Exercise Price
$7.78 to $18.28		231,881		2.46	$	12.48		228,079	$	12.39
$18.29 to $23.07		235,996		4.41		21.74		124,164		21.68
$23.08 to $24.61		296,738		3.92		23.55		41,232		24.06
$24.62 to $45.55		351,369		4.01		36.05		36,819		25.59
Total		1,115,984		3.75	$	24.80		430,294	$	17.32

Outstanding Options

A summary of the status for all outstanding options at March 31, 2014, and changes during the fiscal year then ended is presented in the table below:

	Number of Options			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value as of March 31, 2014
Options outstanding, March 31, 2013		1,100,952		$	18.66
Granted		441,550			33.06
Exercised		(310,729	)		15.31
Cancelled — forfeited		(50,374	)		25.56
Cancelled — expired		(65,415	)		21.61
Options outstanding, March 31, 2014		1,115,984		$	24.80		3.75	$	27,852,690
Options vested and expected to vest		976,333		$	23.64		3.66	$	25,504,491
Ending exercisable		430,294		$	17.32		2.95	$	13,960,617