Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations And Retained Earnings (Unaudited)

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Condensed Consolidated Statements of Operations And Retained Earnings (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Income Statement [Abstract]        
Net sales $ 17,198 $ 17,281 $ 68,190 $ 55,356
Cost of products sold 13,456 13,785 51,079 43,341
Gross profit 3,742 3,496 17,111 12,015
Other expenses and income:        
Selling, general and administrative 4,249 4,037 13,518 11,362
Selling, general and administrative – amortization 59 59 178 177
Impairment of goodwill and intangible assets   14,816   14,816
Restructuring charge       316
Other income (206) (119) (618) (358)
Interest income (404) (142) (1,044) (455)
Interest expense 5 3 8 8
Total other expenses and income 3,703 18,654 12,042 25,866
Income (loss) before provision (benefit) for income taxes 39 (15,158) 5,069 (13,851)
(Benefit) provision for income taxes (56) (3,536) 824 (3,174)
Net income (loss) 95 (11,622) 4,245 (10,677)
Retained earnings at beginning of period 100,271 109,731 99,011 110,544
Cumulative effect of change in accounting principle, net of income tax benefit of $301     (1,022)  
Dividends (983) (880) (2,851) (2,638)
Retained earnings at end of period $ 99,383 $ 97,229 $ 99,383 $ 97,229
Basic:        
Net income (loss) $ 0.01 $ (1.19) $ 0.43 $ (1.09)
Diluted:        
Net income (loss) $ 0.01 $ (1.19) $ 0.43 $ (1.09)
Weighted average common shares outstanding:        
Basic 9,832 9,768 9,817 9,762
Diluted 9,845 9,768 9,832 9,762
Dividends declared per share $ 0.10 $ 0.09 $ 0.29 $ 0.27