Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Quarterly Financial Information [Text Block]

Selected Quarterly Financial Data (unaudited, in thousands, except per share amounts)

The following table sets forth a summary of our unaudited quarterly operating results for each of the last

eight

quarters in the period ended

March 31, 2017.

We have derived this data from our unaudited consolidated interim financial statements that, in our opinion, have been prepared on substantially the same basis as the audited financial statements contained elsewhere in this report and include all normal recurring adjustments necessary for a fair presentation of the financial information for the periods presented. These unaudited quarterly results should be read in conjunction with our financial statements and notes thereto included elsewhere in this report. The operating results in any quarter are

not

necessarily indicative of the results that

may

be expected for any future period.

Fiscal Year Ended

March 31, 2017

	Three Months Ended
	March 31, 2017		December 31, 2016		September 30, 2016		June 30, 2016
Net revenues	$	83,372	$	79,484	$	78,629	$	80,638
Gross profit		29,194		26,939		25,455		23,994
Operating income		9,233		7,819		6,771		5,029
Net income	$	9,294	$	5,100	$	3,935	$	3,019
Net income per share:
Basic (1)	$	0.29	$	0.16	$	0.12	$	0.10
Diluted (1)	$	0.28	$	0.16	$	0.12	$	0.09
Weighted average shares used in per share calculation:
Basic		31,724		31,558		31,490		31,401
Diluted		32,635		32,209		32,145		32,001

Fiscal Year Ended

March 31, 2016

	Three Months Ended
	March 31, 2016		December 31, 2015		September 30, 2015		June 30, 2015
Net revenues	$	79,772	$	75,133	$	80,257	$	82,047
Gross profit		24,115		24,029		26,012		25,602
Operating income		6,834		6,262		7,033		5,704
Net income (2)	$	6,197	$	2,286	$	3,273	$	2,985
Net income per share:
Basic (1)	$	0.20	$	0.07	$	0.10	$	0.09
Diluted (1)	$	0.19	$	0.07	$	0.10	$	0.09
Weighted average shares used in per share calculation:
Basic		31,441		31,487		31,651		31,746
Diluted		32,076		32,343		32,380		32,733

( 1 ) The sum of the four quarterly calculations of net income per share is not equal to the annual net income per share due to the use of quarterly weighted average shares used to determine the quarterly net income per share as compared to the annual weighted average shares used to determine the annual net income per share.

( 2 ) During the fiscal year ended March 31, 2016, we recorded out-of-period adjustments that increased the income tax provision  by a net amount of $1.4 million. See Note 16, "Income Taxes" in the Notes to Consolidated Financial Statements in Item 8 of this Annual Report on Form 10 -K for further discussion of an out-of-period adjustment during the quarter ended December 31, 2015.