Income Taxes (Tables)

12 Months Ended

Mar. 31, 2014

Income Tax Disclosure [Abstract]

Summary of Income Tax Provision

The income tax provision consisted of the following for the three fiscal years ended March 31, 2012, 2013 and 2014:

	2012		2013			2014
Current — Federal	$	5,896,000	$	11,236,000		$	21,978,146
Current — State		1,938,000		3,653,000			2,655,854
Subtotal		7,834,000		14,889,000			24,634,000
Deferred — Federal		8,104,000		2,310,000			(2,367,000	)
Deferred — State		947,000		(34,000	)		(152,000	)
Subtotal		9,051,000		2,276,000			(2,519,000	)
	$	16,885,000	$	17,165,000		$	22,115,000

Summary of Reconciliation Income Tax Provision from the Statutory Federal Income Tax Rate

The following is a reconciliation of the income tax provision from the statutory federal income tax rate to the effective rate for the three fiscal years ended March 31, 2012, 2013 and 2014:

	2012		2013		2014
Income taxes at federal statutory rate (35%)	$	15,203,000	$	15,363,000	$	20,633,000
State income taxes, net of federal benefit		1,615,000		1,172,000		1,826,000
ASC 740-10 Provision		26,000		26,000		(245,000	)
Other		41,000		604,000		(99,000	)
	$	16,885,000	$	17,165,000	$	22,115,000

Summary of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities at March 31, 2013 and 2014 are:

	2013			2014
Deferred income tax assets:
Accrued liabilities not currently deductible	$	5,075,000		$	6,672,000
Allowance for doubtful accounts		918,000			692,000
Stock-based compensation		925,000			717,000
Other		805,000			2,222,000
Deferred assets		7,723,000			10,303,000
Deferred income tax liabilities:
Excess of book over tax basis of fixed assets		(14,277,000	)		(14,409,000	)
Intangible assets		(4,728,000	)		(4,934,000	)
Other		(495,000	)		(218,000	)
Deferred liabilities		(19,500,000	)		(19,561,000	)
Net deferred tax asset/(liability)	$	(11,777,000	)	$	(9,258,000	)

Reconciliation of the Financial Statement Recognition and Measurement of Unrecognized Tax Positions During the Current Fiscal Year

A reconciliation of the financial statement recognition and measurement of unrecognized tax positions during the current fiscal year is as follows:

Balance as of March 31, 2013	$	772,000
Additions based on tax positions related to the current year		215,000
Additions for tax positions of prior years		—
Reductions for tax positions of prior years		(287,000	)
Balance as of March 31, 2014	$	700,000