XML 59 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income $ 15,289 $ 11,252 $ 10,036
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,466 1,065 845
Stock-based compensation 465 1,064 801
Excess tax benefit from stock-based compensation (2,118) (8,113) (150)
Accretion of imputed interest on purchase of intangible asset 142 143 0
Change in fair value of convertible preferred stock warrant liability 0 13 1,208
Loss on disposal of property and equipment 61 46 0
Deferred taxes 493 177 442
Changes in operating assets and liabilities:      
Accounts receivable 432 (7,580) [1] (3,114) [1]
Inventory (3,342) (4,945) (549)
Income tax receivable 588 3,853 (164)
Prepaid expenses, other current and non-current assets 775 1,496 109
Accounts payable 2,801 3,356 (9,499)
Related-party payable 0 (1,305) 1,299
Accrued expenses and other non-current liabilities 194 8,194 [1] 27 [1]
Net cash provided by operating activities 17,246 8,716 1,291
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of property and equipment (1,637) (2,766) (3,538)
Restricted cash (300) 0 0
Net cash used in investing activities (1,937) (2,766) (3,538)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from credit facility 8,432 23,737 72,389
Payments to credit facility (15,439) (29,526) (59,593)
Proceeds from common shares issued in initial public offering, net of issuance costs 0 11,146 0
Dividends paid 0 0 (13,550)
Payments of initial public offering costs 0 0 (3,368)
Repurchase of common stock 0 (19,125) 0
Net repurchase of stock options 0 0 (602)
Excess tax benefit from stock-based compensation 2,118 8,113 150
Proceeds from exercises of stock options 1,958 4,073 50
Net cash used in financing activities (2,931) (1,582) (4,524)
NET INCREASE (DECREASE) IN CASH 12,378 4,368 (6,771)
CASH—Beginning of year 4,930 562 7,333
CASH—End of year 17,308 4,930 562
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Cash paid for interest 148 17 67
Cash paid for income taxes 5,611 247 6,153
NONCASH INVESTING AND FINANCING ACTIVITIES:      
Conversion of convertible preferred stock into common stock 0 81,373 0
Deferred initial public offering costs funded through accounts payable and accrued expenses 0 0 1,975
Intangible asset acquired by financing transaction $ 0 $ 0 $ 1,023
[1] Includes an immaterial reclassification between accounts receivable and accrued liabilities.