Note 8 - Income Taxes

6 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Income Tax Disclosure [Text Block]

Note

8

: Income Taxes

For the quarters ended

September 30, 2019

and

2018,

the Company recorded an income tax provision of approximately

$2.5

million and

$3.1

million, respectively, and for the

six

months ended

September 30, 2019

and

2018,

the Company recorded an income tax provision of approximately

$4.1

million and

$7.0

million, respectively. The decrease in the income tax provision for the quarter and

six

months ended

September 30, 2019

is related to a decrease in operating income during the periods.

The effective tax rate for the quarter ended

September 30, 2019

was approximately

27.0%,

compared to

22.6%

for the quarter ended

September 30, 2018,

and the effective tax rate for the

six

months ended

September 30, 2019

was approximately

25.5%

compared to

23.1%

for the

six

months ended

September 30, 2018.

The increase to the effective rate for the

three

and

six

months ended

September 30, 2019

can be attributed to a

$322,000

income tax charge related to restricted stock compensation, compared to a

$134,000

income tax benefit related to restricted stock compensation, which was recognized in the quarter ended

September 30, 2018.