Income Taxes (Tables)

12 Months Ended

Mar. 31, 2016

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, 2014, 2015 and 2016:

	2014			2015			2016
Current – Federal	$	21,978,000		$	16,534,000		$	16,600,000
Current – State		2,656,000			136,000			2,591,000
Subtotal		24,634,000			16,670,000			19,191,000
Deferred – Federal		(2,367,000	)		312,000			(1,679,000	)
Deferred – State		(152,000	)		(8,000	)		23,000
Subtotal		(2,519,000	)		304,000			(1,656,000	)
	$	22,115,000		$	16,974,000		$	17,535,000

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, 2014, 2015 and 2016:

	2014			2015			2016
Income taxes at federal statutory rate (35%)	$	20,633,000		$	15,947,000		$	16,121,000
State income taxes, net of federal benefit		1,826,000			1,535,000			1,704,000
Uncertain tax positions		(245,000	)		1,346,000			78,000
Adjustments to returns as filed		(293,000	)		(1,978,000	)		(232,000	)
Other		194,000			124,000			(136,000	)
	$	22,115,000		$	16,974,000		$	17,535,000

Summary of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities at March 31, 2015 and 2016 are:

	2015			2016
Deferred income tax assets:
Accrued liabilities not currently deductible	$	7,547,000		$	9,656,000
Allowance for doubtful accounts		631,000			696,000
Stock-based compensation		1,044,000			1,245,000
Accrued rent		2,152,000			1,875,000
Other		830,000			762,000
Deferred assets		12,204,000			14,234,000
Deferred income tax liabilities:
Excess of book over tax basis of fixed assets		(15,985,000	)		(16,151,000	)
Intangible assets		(5,217,000	)		(5,555,000	)
Other		(564,000	)		(434,000	)
Deferred liabilities		(21,766,000	)		(22,140,000	)
Net deferred tax liability	$	(9,562,000	)	$	(7,906,000	)

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, 2015	$	1,989,000
Additions based on tax positions related to the current year		337,000
Additions for tax positions of prior years		—
Reductions for tax positions related to the current year		(229,000	)
Reductions for tax positions of prior years		(267,000	)
Balance as of March 31, 2016	$	1,830,000