|
Condensed Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
6 Months Ended |
|
Sep. 30, 2012
|
Sep. 30, 2011
|
| Cash flows from operating activities: |
|
|
| Net income |
$ 4,348 |
$ 3,733 |
| Depreciation and amortization |
1,675 |
1,102 |
| Stock based compensation |
438 |
192 |
| Change in assets and liabilities, net of acquisitions |
|
|
| Accounts receivable, net |
(452) |
361 |
| Inventories, net |
(282) |
722 |
| Prepaid expenses and other |
134 |
167 |
| Accounts payable |
103 |
(122) |
| Accrued liabilities |
(1,038) |
(1,550) |
| Net cash flows provided by operating activities |
4,926 |
4,605 |
| Cash flows from investing activities: |
|
|
| Acquisition of net assets of a business |
(16,660) |
|
| Purchases of property, plant and equipment |
(370) |
(343) |
| Net cash used in investing activities |
(17,030) |
(343) |
| Cash flows from financing activities: |
|
|
| Proceeds from the issuance of debt |
11,000 |
|
| Payments on debt |
(3,000) |
(2,500) |
| Dividends |
(871) |
(788) |
| Purchases of stock for treasury |
(57) |
(80) |
| Proceeds from the exercise of stock options |
613 |
512 |
| Net cash provided by (used in) financing activities |
7,685 |
(2,856) |
| Net (decrease) increase in cash and cash equivalents |
(4,419) |
1,406 |
| Cash and cash equivalents at beginning of period |
7,191 |
3,546 |
| Cash and cash equivalents at end of period |
2,772 |
4,952 |
| Cash paid for: |
|
|
| Income taxes |
2,814 |
2,134 |
| Interest |
75 |
111 |
| Supplemental non-cash activity: |
|
|
| Employee loans issued for the exercise of stock options |
166 |
235 |
| Repayment of employee loans related to the exercise of stock options |
347 |
304 |
| Contingent consideration as part of the acquisition of net assets of a business |
$ 2,140 |
|