Note 7 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2018

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	2018			2017		2016
					(Restated)	(Restated)
	(In thousands)
Current:
Federal	$	(1,901	)	$	395	$	24,579
State		351			495		1,953
		(1,550	)		890		26,532
Deferred:
Federal	$	(4,475	)	$	8,226	$	425
State		(447	)		637		283
		(4,922	)		8,863		708
Total income tax (benefit) expense	$	(6,472	)	$	9,753	$	27,240

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2018			2017			2016
					(Restated)			(Restated)
Computed (expected tax rate)		31.5	%		35.0	%		35.0	%
State income taxes (net of federal tax benefit)		3.1			3.9			2.7
State tax credits		2.4			(2.0	)		(0.9	)
Federal credits		3.1			(1.3	)		(0.3	)
Manufacturer’s deduction		-			(1.3	)		(3.7	)
(Reversal of) addition to uncertain tax positions		(0.8	)		0.2			0.2
Difference between statutory and actual rate		(10.5	)		(0.4	)		-
Other permanent differences not deductible		1.6			1.8			(0.2	)
Change in valuation allowance		(9.7	)		0.1			0.1
Tax rate change		8.8			-			-
Other		2.4			2.0			(0.3	)
Effective income tax rate		31.9	%		38.0	%		32.6	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2018			2017
			(Restated)
	(In thousands)
Deferred income tax assets:
Future tax credits	$	5,030		$	3,827
Restructuring reserve		2,374			-
Employee benefits		2,440			3,119
Insurance		361			924
Other comprehensive loss		8,500			7,135
Interest		31			32
Future federal tax credits		443			-
Prepaid revenue		15,422			17,729
Other		715			472
Net operating loss carryovers		4,512			-
		39,828			33,238
Deferred income tax liabilities:
Property basis and depreciation difference		11,750			12,786
481(a) adjustment		-			429
Inventory valuation		11,270			12,766
Intangibles		325			213
Earnings from equity investment		-			193
Pension		2,329			3,590
		25,674			29,977
Valuation allowance - non-current		3,865			1,891
Net deferred income tax (liability) asset	$	10,289		$	1,370

Summary of Income Tax Contingencies [Table Text Block]

	2018			2017
	(In thousands)
Beginning balance	$	715		$	694
Tax positions related to current year:
Additions		9			67
Tax positions related to prior years:
Additions		154			-
Reductions		(23	)		(46	)
Settlements		-			-
Lapses in statues of limitations		-			-
Balance as of March 31,	$	855		$	715