Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Retained Earnings (Unaudited)

v3.5.0.2
Condensed Consolidated Statements of Operations and Retained Earnings (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
Net sales $ 21,126 $ 22,798 $ 43,491 $ 50,415
Cost of products sold 16,116 15,663 34,370 35,243
Gross profit 5,010 7,135 9,121 15,172
Other expenses and income:        
Selling, general and administrative 3,118 4,187 6,716 8,767
Selling, general and administrative – amortization 59 59 117 117
Restructuring charge 75   630  
Interest income (85) (53) (172) (105)
Interest expense 2 1 4 4
Total other expenses and income 3,169 4,194 7,295 8,783
Income before provision for income taxes 1,841 2,941 1,826 6,389
Provision for income taxes 544 965 444 2,052
Net income 1,297 1,976 1,382 4,337
Retained earnings at beginning of period 108,232 107,726 109,013 106,178
Dividends (874) (807) (1,740) (1,620)
Retained earnings at end of period $ 108,655 $ 108,895 $ 108,655 $ 108,895
Basic:        
Net income $ 0.13 $ 0.20 $ 0.14 $ 0.43
Diluted:        
Net income $ 0.13 $ 0.20 $ 0.14 $ 0.43
Weighted average common shares outstanding:        
Basic 9,724 10,078 9,699 10,116
Diluted 9,728 10,083 9,704 10,125
Dividends declared per share $ 0.09 $ 0.08 $ 0.18 $ 0.16