v3.25.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating activities:    
Net income $ 10,530 $ 7,835
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 3,670 2,712
Amortization of intangible assets 1,507 1,663
Bad debt reserves (369) 0
Amortization of actuarial losses 630 586
Equity-based compensation expense 1,727 1,204
Gain on disposal or sale of property, plant and equipment (38) 0
Change in fair value of contingent consideration (486) (946)
Deferred income taxes (39) (91)
(Increase) decrease in operating assets, net of acquisition:    
Accounts receivable 4,169 9,394
Unbilled revenue (19,308) (9,879)
Inventories (8,474) (5,628)
Prepaid expenses and other current and non-current assets 4 (1,665)
Income taxes receivable 1,501 (46)
Operating lease assets 1,011 965
Prepaid pension asset (105) (175)
Increase (decrease) in operating liabilities, net of acquisition:    
Accounts payable (6,690) 3,914
Accrued compensation, accrued expenses and other current and non-current liabilities (551) (1,380)
Customer deposits 27,830 21,000
Income taxes payable 562 (646)
Operating lease liabilities (995) (948)
Long-term portion of accrued compensation, accrued pension and postretirement benefit liabilities (2) 4
Net cash provided by operating activities 16,084 27,873
Investing activities:    
Purchase of property, plant and equipment (13,482) (13,800)
Proceeds from disposal of property, plant and equipment 154 0
Acquisitions, net of cash acquired (895) (170)
Net cash used by investing activities (14,223) (13,970)
Financing activities:    
Borrowings of debt obligations 8,000 0
Principal repayments on debt (8,000) 0
Repayments on financing lease obligations (251) (237)
Issuance of common stock 458 334
Tax withholdings related to net share settlements of restricted stock units and awards (1,532) (854)
Net cash used by financing activities (1,325) (757)
Effect of exchange rate changes on cash 141 (39)
Net increase in cash and cash equivalents 677 13,107
Cash and cash equivalents at beginning of period 21,577 16,939
Cash and cash equivalents at end of period $ 22,254 $ 30,046

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