Acquisitions (Table Text Block)

6 Months Ended

Sep. 30, 2016

Business Acquisition, Pro Forma Information [Table Text Block]



	Three Months Ended				Six Months Ended
	September 30, 2016		September 30, 2015		September 30, 2016		September 30, 2015
Net sales	$	151,925	$	163,902	$	300,938	$	326,461
Net income	$	6,816	$	4,098	$	13,217	$	11,762
Net income per share - Basic	$	0.34	$	0.20	$	0.66	$	0.59
Net income per share - Diluted	$	0.33	$	0.20	$	0.65	$	0.58

Schedule of Purchase Price Allocation

In connection with the acquisition of Ergomatic, the Company withheld $588,000 to be paid to the seller upon satisfaction of certain conditions. Of this amount, $294,000 is expected to be paid to the seller within one year of the period ending September 30, 2016 and the remaining $294,000 is expected to be paid within two years. The Company has recorded short term restricted cash on its condensed consolidated balance sheets of $294,000 within prepaid expenses and other and long term restricted cash of $294,000 in other assets at September 30, 2016. Further, the Company has recorded a short term liability to the seller of $294,000 within accrued liabilities and a long term liability to the seller of $294,000 within other non current liabilities at September 30, 2016.

The purchase price has been preliminarily allocated to the assets and liabilities assumed as of the date of acquisition. Adjustments may be made if new information is obtained during the measurement period. The identifiable intangible assets acquired primarily includes engineered drawings of $677,000 with an estimated useful life of 20 years. The preliminary assignment of the purchase consideration to the assets acquired and liabilities assumed is as follows (in thousands):



Working capital	$	212
Property, plant and equipment	246
Intangible assets	717
Total purchase consideration	$	1,175