Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Retained Earnings (Unaudited)

v3.3.1.900
Condensed Consolidated Statements of Operations and Retained Earnings (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Income Statement [Abstract]        
Net sales $ 17,323 $ 33,646 $ 67,738 $ 97,714
Cost of products sold 13,799 23,543 49,042 68,695
Gross profit 3,524 10,103 18,696 29,019
Other expenses and income:        
Selling, general and administrative 3,680 4,424 12,447 13,413
Selling, general and administrative - amortization 58 59 175 171
Interest income (72) (50) (177) (139)
Interest expense 4 2 8 8
Other income (1,784)   (1,784)  
Total other expenses and income 1,886 4,435 10,669 13,453
Income before provision for income taxes 1,638 5,668 8,027 15,566
Provision for income taxes 364 1,676 2,416 4,996
Net income 1,274 3,992 5,611 10,570
Retained earnings at beginning of period 108,895 99,237 106,178 93,469
Dividends (795) (405) (2,415) (1,215)
Retained earnings at end of period $ 109,374 $ 102,824 $ 109,374 $ 102,824
Basic:        
Net income $ 0.13 $ 0.39 $ 0.56 $ 1.04
Diluted:        
Net income $ 0.13 $ 0.39 $ 0.56 $ 1.04
Weighted average common shares outstanding:        
Basic 9,922 10,127 10,051 10,119
Diluted 9,927 10,149 10,059 10,142
Dividends declared per share $ 0.08 $ 0.04 $ 0.24 $ 0.12