Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income and Retained Earnings (Unaudited)

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Condensed Consolidated Statements of Income and Retained Earnings (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]        
Net sales $ 17,224 $ 21,126 $ 38,075 $ 43,491
Cost of products sold 13,394 16,116 29,379 34,370
Gross profit 3,830 5,010 8,696 9,121
Other expenses and income:        
Selling, general and administrative 3,640 3,118 7,263 6,716
Selling, general and administrative – amortization 60 59 118 117
Restructuring charge 316 75 316 630
Interest income (162) (85) (313) (172)
Interest expense 2 2 5 4
Total other expenses and income 3,856 3,169 7,389 7,295
(Loss) income before provision for income taxes (26) 1,841 1,307 1,826
(Benefit) provision for income taxes (36) 544 362 444
Net income 10 1,297 945 1,382
Retained earnings at beginning of period 110,600 108,232 110,544 109,013
Dividends (879) (874) (1,758) (1,740)
Retained earnings at end of period $ 109,731 $ 108,655 $ 109,731 $ 108,655
Basic:        
Net income   $ 0.13 $ 0.10 $ 0.14
Diluted:        
Net income   $ 0.13 $ 0.10 $ 0.14
Weighted average common shares outstanding:        
Basic 9,769 9,724 9,759 9,699
Diluted 9,775 9,728 9,767 9,704
Dividends declared per share $ 0.09 $ 0.09 $ 0.18 $ 0.18