|
Cash Flow Statement
|
9 Months Ended |
|---|---|
|
Dec. 31, 2011
|
|
| Cash Flow Statement [Abstract] | |
| CASH FLOW STATEMENT |
NOTE 10 – CASH FLOW STATEMENT:
Interest paid was $9 and $4 for the nine-month periods ended December 31, 2011 and 2010, respectively. In addition, income taxes paid for the nine months ended December 31, 2011 and 2010 were $7,000 and $1,319, respectively. During the nine months ended December 31, 2011 and 2010, stock option awards were exercised and restricted stock awards vested. In connection with such stock option exercises and vesting, the related income tax benefit realized exceeded the tax benefit that had been recorded pertaining to the compensation cost recognized by $197 and $66, respectively, for such periods. This excess tax deduction has been separately reported under “Financing activities” in the Condensed Consolidated Statements of Cash Flows. At December 31, 2011 and 2010, there were $16 and $34 of capital purchases that were recorded in accounts payable and are not included in the caption “Purchase of property, plant and equipment” in the Condensed Consolidated Statements of Cash Flows. In the nine months ended December 31, 2011 and 2010, capital expenditures totaling $205 and $0, respectively, were financed through the issuance of capital leases. During the nine months ended December 31, 2010, non cash activities included the recording of a $1,800 contingent liability for the contingent earn-out related to the acquisition of Energy Steel, which was treated as additional purchase price.
|