PetMed Express (PETS) 10-K 29 May 18 2018 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	May 29, 2018	Sep. 30, 2017
Document Information [Line Items]
Entity Registrant Name	PETMED EXPRESS INC
Entity Central Index Key	1,040,130
Trading Symbol	pets
Current Fiscal Year End Date	--03-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		20,600,605
Entity Public Float			$ 655.1
Document Type	10-K
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Current assets:
Cash and cash equivalents	$ 77,936	$ 58,730
Accounts receivable, less allowance for doubtful accounts of $35 and $27, respectively	2,292	1,808
Inventories - finished goods	23,337	20,228
Prepaid expenses and other current assets	882	1,019
Prepaid income taxes	788
Total current assets	105,235	81,785
Noncurrent assets:
Property and equipment, net	28,741	30,164
Intangible assets	860	860
Total noncurrent assets	29,601	31,024
Total assets	134,836	112,809
Current liabilities:
Accounts payable	15,274	15,221
Accrued expenses and other current liabilities	2,835	2,475
Income taxes payable		659
Total current liabilities	18,109	18,355
Deferred tax liabilities	996	1,088
Total liabilities	19,105	19,443
Commitments and contingencies
Shareholders' equity:
Preferred stock, $.001 par value, 5,000 shares authorized; 3 convertible shares issued and outstanding with a liquidation preference of $4 per share	9	9
Common stock, $.001 par value, 40,000 shares authorized; 20,601 and 20,526 shares issued and outstanding, respectively	21	21
Additional paid-in capital	9,381	6,806
Retained earnings	106,320	86,530
Total shareholders' equity	115,731	93,366
Total liabilities and shareholders' equity	$ 134,836	$ 112,809

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Allowance for doubtful accounts	$ 35,000	$ 27,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, liquidation preference (in dollars per share)	$ 4	$ 4
Preferred stock, shares issued (in shares)	3,000	3,000
Preferred stock, shares outstanding (in shares)	3,000	3,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	20,601,000	20,526,000
Common stock, shares outstanding (in shares)	20,601,000	20,526,000

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Sales	$ 273,800,000	$ 249,176,000	$ 234,684,000
Cost of sales	175,993,000	169,862,000	158,388,000
Gross profit	97,807,000	79,314,000	76,296,000
Operating expenses:
General and administrative	24,290,000	22,799,000	21,301,000
Advertising	19,255,000	17,663,000	21,837,000
Depreciation	2,126,000	1,369,000	770,000
Total operating expenses	45,671,000	41,831,000	43,908,000
Income from operations	52,136,000	37,483,000	32,388,000
Other income (expense):
Interest income, net	658,000	141,000	190,000
Realized loss on sale of short term investments			(74,000)
Other, net	995,000	300,000	63,000
Total other income	1,653,000	441,000	179,000
Income before provision for income taxes	53,789,000	37,924,000	32,567,000
Total provision for income taxes	16,506,000	14,105,000	12,000,000
Net income	37,283,000	23,819,000	20,567,000
Net change in unrealized gain on short term investments	0	0	54,000
Comprehensive income	$ 37,283,000	$ 23,819,000	$ 20,621,000
Net income per common share:
Basic (in dollars per share)	$ 1.83	$ 1.18	$ 1.02
Diluted (in dollars per share)	$ 1.82	$ 1.17	$ 1.02
Weighted average number of common shares outstanding:
Basic (in shares)	20,346	20,232	20,124
Diluted (in shares)	20,433	20,378	20,254
Cash dividends declared per common share (in dollars per share)	$ 0.85	$ 0.76	$ 0.72

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Mar. 31, 2015	3	20,262
Balance at Mar. 31, 2015	$ 9,000	$ 20,000	$ 3,117,000	$ 72,343,000	$ (54,000)	$ 75,435,000
Issuance of restricted stock, net (in shares)		185
Issuance of restricted stock, net
Share based compensation			1,612,000			1,612,000
Dividends declared				(14,615,000)		(14,615,000)
Excess tax benefit related to stock compensation			142,000			142,000
Net income				20,567,000	20,567,000	20,567,000
Other comprehensive gain:
Net change in unrealized gain on short term investments					54,000	54,000
Total comprehensive income					20,621,000	20,621,000
Issuance of restricted stock, net (in shares)		185
Issuance of restricted stock, net
Share based compensation			1,612,000			1,612,000
Dividends declared				(14,615,000)		(14,615,000)
Net income				20,567,000	20,567,000	20,567,000
Balance (in shares) at Mar. 31, 2016	3	20,447
Balance at Mar. 31, 2016	$ 9,000	$ 20,000	4,871,000	78,295,000		83,195,000
Issuance of restricted stock, net (in shares)		79
Issuance of restricted stock, net		$ 1,000				1,000
Share based compensation			1,935,000			1,935,000
Dividends declared				(15,584,000)		(15,584,000)
Net income				23,819,000	23,819,000	23,819,000
Other comprehensive gain:
Net change in unrealized gain on short term investments						0
Total comprehensive income						23,819,000
Issuance of restricted stock, net (in shares)		79
Issuance of restricted stock, net		$ 1,000				1,000
Share based compensation			1,935,000			1,935,000
Dividends declared				(15,584,000)		(15,584,000)
Net income				23,819,000	23,819,000	23,819,000
Balance (in shares) at Mar. 31, 2017	3	20,526
Balance at Mar. 31, 2017	$ 9,000	$ 21,000	6,806,000	86,530,000		93,366,000
Issuance of restricted stock, net (in shares)		75
Issuance of restricted stock, net
Share based compensation			2,575,000			2,575,000
Dividends declared				(17,493,000)		(17,493,000)
Net income				37,283,000	37,283,000	37,283,000
Other comprehensive gain:
Net change in unrealized gain on short term investments						0
Total comprehensive income						37,283,000
Issuance of restricted stock, net (in shares)		75
Issuance of restricted stock, net
Share based compensation			2,575,000			2,575,000
Dividends declared				(17,493,000)		(17,493,000)
Net income				37,283,000	37,283,000	37,283,000
Balance (in shares) at Mar. 31, 2018	3	20,601
Balance at Mar. 31, 2018	$ 9,000	$ 21,000	$ 9,381,000	$ 106,320,000		$ 115,731,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net income	$ 37,283	$ 23,819	$ 20,567
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	2,126	1,369	770
Share based compensation	2,575	1,935	1,612
Deferred income taxes	(92)	1,951	(23)
Bad debt expense	112	421	260
(Increase) decrease in operating assets and increase (decrease) in liabilities:
Accounts receivable	(596)	(505)	(53)
Inventories - finished goods	(3,109)	5,358	(518)
Prepaid income taxes	(788)	243	(243)
Prepaid expenses and other current assets	137	1,416	(1,055)
Accounts payable	53	10,217	(149)
Accrued expenses and other current liabilities	337	321	(65)
Income taxes payable	(659)	659	(50)
Net cash provided by operating activities	37,379	47,204	21,053
Cash flows from investing activities:
Proceeds from sale of short term investments			15,591
Net change in investments			54
Purchases of property and equipment	(703)	(10,604)	(20,130)
Net cash used in investing activities	(703)	(10,604)	(4,485)
Cash flows from financing activities:
Dividends paid	(17,470)	(15,509)	(14,684)
Excess tax benefit related to stock compensation			142
Net cash used in financing activities	(17,470)	(15,509)	(14,542)
Net increase in cash and cash equivalents	19,206	21,091	2,026
Cash and cash equivalents, at beginning of year	58,730	37,639	35,613
Cash and cash equivalents, at end of year	77,936	58,730	37,639
Supplemental disclosure of cash flow information:
Cash paid for income taxes	18,046	11,373	12,173
Dividends payable in accrued expenses	$ 240	$ 217	$ 143

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	( 1 Summary of Significant Accounting Policies Organization PetMed Express, Inc. and subsidiaries, d/b/a 1 800 “1 800 www.1800petmeds.com March 31, 2018, 2017, 2016 March 31, 2018, 2017, 2016, Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany transactions have been eliminated in consolidation. Revenue Recognition The Company generates revenue by selling pet medication products and pet supplies mainly to retail consumers. The Company’s policy is to recognize revenue from product sales upon shipment, when the rights of ownership and risk of loss have passed to the customer. Outbound shipping and handling fees are included in sales and are billed upon shipment. Shipping expenses are included in cost of sales. The majority of the Company’s sales are paid by credit cards and the Company usually receives the cash settlement in two three 1 2 3 4 March 31, 2018 2017, $35,000 $27,000, Cash and Cash Equivalents The Company considers all highly liquid investments with maturity of three March 31, 2018 2017 three may not Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Inventories Inventories consist of prescription and non-prescription pet medications and pet supplies that are available for sale and are priced at the lower of cost or net realizable value using a weighted average cost method. The Company writes down its inventory for estimated obsolescence. The inventory reserve was approximately $58,000 $51,000 March 31, 2018 2017, Property and Equipment Property and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets. Our building is being depreciated over a period of thirty three ten Long-lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not Intangible Assets The intangible assets consist of a toll-free telephone number and an internet domain name. In accordance with the ASC Topic 350 Goodwill and Other Intangible Assets” not Fair Value of Financial Instruments The carrying amounts of the Company's cash and cash equivalents, accounts receivable, and accounts payable approximate fair value due to the short-term nature of these instruments. Advertising The Company's advertising expenses consist primarily of online marketing and direct mail/print advertising. Internet costs are expensed in the month incurred and direct mail/print costs are expensed when the related catalogs, brochures, and postcards are produced, distributed, or superseded. Business Concentrations The Company purchases its products from a variety of sources, including certain manufacturers, domestic distributors, and wholesalers. We have multiple suppliers for each of our products to obtain the lowest cost. There were four 50% 2018 2017. Accounting for Share Based Compensation The Company records compensation expense associated with restricted stock in accordance with ASC Topic 718 “Share Based Payment” Comprehensive Income The Company applies ASC Topic 220 Reporting Comprehensive Income” March 31, 2018 2017 no March 31, 2016 $54,000 The following is a summary of our comprehensive income (in thousands): March 31, 2018 2017 2016 Net income $ 37,283 $ 23,819 $ 20,567 Change in unrealized gain on short term investments, net of taxes - - 54 Comprehensive income $ 37,283 $ 23,819 $ 20,621 Income Taxes The Company accounts for income taxes under the provisions of ASC Topic 740 Accounting for Income Taxes 740, not not 50 no March 31, 2012, Recent Accounting Pronouncements In May 2014, 2014 09, 606 606 December 15, 2017. 2016, two The Company will adopt ASC 606 April 1, 2018. five 606, 1 2 3 4 5 The Company does not 606 1 606 2 3 605 606. There are also certain considerations related to accounting policies, business processes and internal control over financial reporting that are associated with implementing ASC 606. Lastly, disclosure requirements under ASC 606 605, 606, In February 2016, December 15, 2018, not The Company does not not

Note 2 - Property and Equipment

Note 2 - Property and Equipment	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	( 2 Property and Equipment Major classifications of property and equipment consist of the following (in thousands): March 31, 2018 2017 Building $ 14,997 $ 14,988 Land 3,700 3,700 Building improvements 2,807 2,592 Computer software 5,504 5,068 Furniture, fixtures and equipment 7,906 7,863 34,914 34,211 Less: accumulated depreciation (6,173 ) (4,047 ) Property and equipment, net $ 28,741 $ 30,164

Note 3 - Valuation and Qualifyi

Note 3 - Valuation and Qualifying Accounts	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	( 3 Valuation and Qualifying Accounts Activity in the Company's valuation and qualifying accounts consists of the following (in thousands): Year Ended March 31, 2018 2017 2016 Allowance for doubtful accounts: Balance at beginning of period $ 27 $ 13 $ 8 Provision for doubtful accounts 112 421 260 Write-off of uncollectible accounts receivable (104 ) (407 ) (255 ) Balance at end of year $ 35 $ 27 $ 13

Note 4 - Accrued Expenses and O

Note 4 - Accrued Expenses and Other Current Liabilities	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	( 4 Accrued Expenses and Other Current Liabilities Major classifications of accrued expenses and other current liabilities consist of the following (in thousands): March 31, 2018 2017 Accrued sales tax $ 449 $ 450 Accrued credit card fees 381 364 Accrued salaries and benefits 966 639 Accrued professional expenses 320 245 Accrued sales return allowance 191 180 Accrued dividends payable 240 217 Accrued real estate taxes 87 236 Other accrued liabilities 201 144 Accrued expenses and other current liabilities $ 2,835 $ 2,475

Note 5 - Income Taxes

Note 5 - Income Taxes	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	( 5 Income Taxes Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities are as follows (in thousands): March 31, 2018 2017 Deferred tax assets: Accrued expenses $ 346 $ 474 Deferred stock compensation 353 334 Bad debt and inventory reserves 22 29 Total deferred tax assets 721 837 Deferred tax liabilities: Property and equipment 1,717 1,925 Total net deferred taxes $ (996 ) $ (1,088 ) At March 31, 2018, no The components of the income tax provision consist of the following (in thousands): Year Ended March 31, 2018 2017 2016 Current taxes Federal $ 15,012 $ 11,095 $ 10,982 State 1,586 1,059 1,041 Total current taxes 16,598 12,154 12,023 Deferred taxes Federal (83 ) 1,781 (21 ) State (9 ) 170 (2 ) Total deferred taxes (92 ) 1,951 (23 ) Total provision for income taxes $ 16,506 $ 14,105 $ 12,000 The reconciliation of income tax provision computed at the U.S. federal statutory tax rates to income tax expense is as follows (in thousands): Year Ended March 31, 2018 2017 2016 Income taxes at U.S. statutory rates $ 16,943 $ 13,274 $ 11,399 State income taxes, net of federal tax benefit 1,078 858 675 Restricted stock windfall adjustment (1,086 ) Reduction of deferred tax liability due to rate reduction (430 ) Permanent differences 1 1 (23 ) Other - (28 ) (51 ) Total provision for income taxes $ 16,506 $ 14,105 $ 12,000 The 2017 “2017 December 22, 2017. 2017 35% 21% December 31, 2017. No. 118, 35.0% March 31, 2018, 31.5%. 2018, $1.9 $430,000 $1.1 one $150,000 2017

Note 6 - Net Income Per Share

Note 6 - Net Income Per Share	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	( 6 Net Income Per Share In accordance with the provisions of ASC Topic 260 Earnings Per Share Year Ended March 31, 2018 2017 2016 Net income (numerator): Net income $ 37,283 $ 23,819 $ 20,567 Shares (denominator) Weighted average number of common shares outstanding used in basic computation 20,346 20,232 20,124 Common shares issuable upon the vesting of restricted stock 77 136 120 Common shares issuable upon conversion of preferred shares 10 10 10 Shares used in diluted computation 20,433 20,378 20,254 Net income per common share: Basic $ 1.83 $ 1.18 $ 1.02 Diluted $ 1.82 $ 1.17 $ 1.02 At March 31, 2018, 77,350 March 31, 2017 2016,

Note 7 - Shareholders' Equity

Note 7 - Shareholders' Equity	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	( 7 Shareholders’ Equity Preferred Stock In April 1998, 250,000 $.001 $4.00 $112,187. 4.05 $4.00 may not one March 31, 2018 2017, 2,500 Share Repurchase Plan On November 8, 2006, $20.0 October 31, 2008, November 1, 2010, August 1, 2011, $20.0 There can be no may 2018 2017 no March 31, 2018 $10.2 Dividends On May 9, 2016, $0.19 May 8, 2017 $0.20 January 22, 2018 $0.25 During fiscal 2018, Declaration Date Per Share Dividend Record Date Total Amount (In thousands) Payment Date May 8, 2017 $0.20 May 19, 2017 $ 4,105 May 26, 2017 July 24, 2017 $0.20 August 7, 2017 $ 4,121 August 18, 2017 October 23, 2017 $0.20 November 6, 2017 $ 4,121 November 17, 2017 January 22, 2018 $0.25 February 5, 2018 $ 5,150 February 16, 2018

Note 8 - Restricted Stock

Note 8 - Restricted Stock	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	( 8 Restricted Stock On July 28, 2006, 2006 “2006 2006 “2006 1.0 200,000 July 2012, 200,000 400,000. 10% In July 2015, 2015 “2015 2015 400,000 10% July 2016, 2016 “2016 2016 1,000,000 no 1 no ten The Company had 974,609 2006 47,350 2016 272,000 2006 60,000 2015 March 31, 2018. third three March 31, 2018, 2017, 2016, $2.6 $1.9 $1.6 A summary of the Company’s non-vested restricted stock at March 31, 2018 Employee Plan Number of Shares (In thousands) Director Plan Number of Shares (In thousands) Both Plans Number of Shares (In thousands) Non-vested restricted stock outstanding at March 31, 2017 172 60 232 Restricted stock granted 49 30 79 Restricted stock vested (84 ) (30 ) (114 ) Restricted stock forfeited or expired (4 ) - (4 ) Non-vested restricted stock outstanding at March 31, 2018 133 60 193 At March 31, 2018 2017, 192,968 232,253, March 31, 2018 2017, 75,081 78,582 March 31, 2018 2017, $4.4 $3.3 1.5 1.8 2018 2017,

Note 9 - Fair Value Measurement

Note 9 - Fair Value Measurements	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 9 Fair Value Measurements The Company carries cash and cash equivalents and investments at fair value in the Consolidated Balance Sheets. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. ASC Topic 820 three Level 1 Level 2 Level 3 no The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Company’s cash equivalents are classified within Level 1. March 31, 2018 2017 1

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 10 ) Commitments and Contingencies Legal Matters and Routine Proceedings On August 25, 2017 September 7, 2017, one August 23, 2017 10 20 1934. January 19, 2018, The Company has settled complaints that had been filed with various states’ pharmacy boards in the past. There can be no not no Employment Agreements On January 29, 2016, No. 5 three March 16, 2016; $600,000 120,000 March 16, 2016, 2006 three Operating Leases Prior to its move to Delray Beach, FL, the Company leased its 65,300 $519,000 $781,000 March 31, 2017 2016, December 31, 2016, December 1, 2016. Upon acquisition of the Delray Beach property in January 2016, 48% 88,000 two March 31, 2018, two 2.0 $604,000 $586,000 2018 2017, three $622,000 2019; $484,000 2020; $97,000 2021.

Note 11 - Employee Benefit Plan

Note 11 - Employee Benefit Plan	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Compensation and Employee Benefit Plans [Text Block]	( 11 Employee Benefit Plan The Company maintains a 401 one 21. 1974, 2006, March 31, 2018, 2017, 2016, $166,000, $181,000, $177,000, 401

Note 12 - Subsequent Events

Note 12 - Subsequent Events	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Subsequent Events [Text Block]	( 12 Subsequent Events On May 7, 2018 $0.25 $5.2 May 25, 2018 May 18, 2018

Note 13 - Quarterly Financial D

Note 13 - Quarterly Financial Data (Unaudited)	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Quarterly Financial Information [Text Block]	( 13 Quarterly Financial Data (Unaudited) Summarized unaudited quarterly financial data for fiscal 2018 2017 Quarter Ended: June 30, 2017 September 30, 2017 December 31, 2017 March 31, 2018 Sales $ 79,657 $ 66,711 $ 60,110 $ 67,322 Gross Profit $ 27,465 $ 23,479 $ 21,944 $ 24,919 Income from operations $ 14,416 $ 12,248 $ 11,468 $ 14,004 Net income $ 9,276 $ 8,760 $ 9,064 $ 10,183 Diluted net income per common share $ 0.45 $ 0.43 $ 0.44 $ 0.50 Quarter Ended: June 30, 2016 September 30, 2016 December 31, 2016 March 31, 2017 Sales $ 72,487 $ 60,791 $ 52,866 $ 63,032 Gross Profit $ 22,452 $ 18,064 $ 16,643 $ 22,155 Income from operations $ 10,400 $ 7,731 $ 7,655 $ 11,697 Net income $ 6,594 $ 4,899 $ 4,823 $ 7,503 Diluted net income per common share $ 0.32 $ 0.24 $ 0.24 $ 0.37

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany transactions have been eliminated in consolidation.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition The Company generates revenue by selling pet medication products and pet supplies mainly to retail consumers. The Company’s policy is to recognize revenue from product sales upon shipment, when the rights of ownership and risk of loss have passed to the customer. Outbound shipping and handling fees are included in sales and are billed upon shipment. Shipping expenses are included in cost of sales. The majority of the Company’s sales are paid by credit cards and the Company usually receives the cash settlement in two three 1 2 3 4 March 31, 2018 2017, $35,000 $27,000,
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company considers all highly liquid investments with maturity of three March 31, 2018 2017 three may not
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Inventory, Policy [Policy Text Block]	Inventories Inventories consist of prescription and non-prescription pet medications and pet supplies that are available for sale and are priced at the lower of cost or net realizable value using a weighted average cost method. The Company writes down its inventory for estimated obsolescence. The inventory reserve was approximately $58,000 $51,000 March 31, 2018 2017,
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets. Our building is being depreciated over a period of thirty three ten
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Long-lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not
Goodwill and Intangible Assets, Policy [Policy Text Block]	Intangible Assets The intangible assets consist of a toll-free telephone number and an internet domain name. In accordance with the ASC Topic 350 Goodwill and Other Intangible Assets” not
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments The carrying amounts of the Company's cash and cash equivalents, accounts receivable, and accounts payable approximate fair value due to the short-term nature of these instruments.
Advertising Costs, Policy [Policy Text Block]	Advertising The Company's advertising expenses consist primarily of online marketing and direct mail/print advertising. Internet costs are expensed in the month incurred and direct mail/print costs are expensed when the related catalogs, brochures, and postcards are produced, distributed, or superseded.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Business Concentrations The Company purchases its products from a variety of sources, including certain manufacturers, domestic distributors, and wholesalers. We have multiple suppliers for each of our products to obtain the lowest cost. There were four 50% 2018 2017.
Compensation Related Costs, Policy [Policy Text Block]	Accounting for Share Based Compensation The Company records compensation expense associated with restricted stock in accordance with ASC Topic 718 “Share Based Payment”
Comprehensive Income, Policy [Policy Text Block]	Comprehensive Income The Company applies ASC Topic 220 Reporting Comprehensive Income” March 31, 2018 2017 no March 31, 2016 $54,000 The following is a summary of our comprehensive income (in thousands): March 31, 2018 2017 2016 Net income $ 37,283 $ 23,819 $ 20,567 Change in unrealized gain on short term investments, net of taxes - - 54 Comprehensive income $ 37,283 $ 23,819 $ 20,621
Income Tax, Policy [Policy Text Block]	Income Taxes The Company accounts for income taxes under the provisions of ASC Topic 740 Accounting for Income Taxes 740, not not 50 no March 31, 2012,
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In May 2014, 2014 09, 606 606 December 15, 2017. 2016, two The Company will adopt ASC 606 April 1, 2018. five 606, 1 2 3 4 5 The Company does not 606 1 606 2 3 605 606. There are also certain considerations related to accounting policies, business processes and internal control over financial reporting that are associated with implementing ASC 606. Lastly, disclosure requirements under ASC 606 605, 606, In February 2016, December 15, 2018, not The Company does not not

Note 1 - Summary of Significa21

Note 1 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2018
Notes Tables
Comprehensive Income (Loss) [Table Text Block]	March 31, 2018 2017 2016 Net income $ 37,283 $ 23,819 $ 20,567 Change in unrealized gain on short term investments, net of taxes - - 54 Comprehensive income $ 37,283 $ 23,819 $ 20,621

Note 2 - Property and Equipme22

Note 2 - Property and Equipment (Tables)	12 Months Ended
	Mar. 31, 2018
Notes Tables
Property, Plant and Equipment [Table Text Block]	March 31, 2018 2017 Building $ 14,997 $ 14,988 Land 3,700 3,700 Building improvements 2,807 2,592 Computer software 5,504 5,068 Furniture, fixtures and equipment 7,906 7,863 34,914 34,211 Less: accumulated depreciation (6,173 ) (4,047 ) Property and equipment, net $ 28,741 $ 30,164

Note 3 - Valuation and Qualif23

Note 3 - Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Mar. 31, 2018
Notes Tables
Valuation and Qualifying Accounts [Table Text Block]	Year Ended March 31, 2018 2017 2016 Allowance for doubtful accounts: Balance at beginning of period $ 27 $ 13 $ 8 Provision for doubtful accounts 112 421 260 Write-off of uncollectible accounts receivable (104 ) (407 ) (255 ) Balance at end of year $ 35 $ 27 $ 13

Note 4 - Accrued Expenses and24

Note 4 - Accrued Expenses and Other Current Liabilities (Tables)	12 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	March 31, 2018 2017 Accrued sales tax $ 449 $ 450 Accrued credit card fees 381 364 Accrued salaries and benefits 966 639 Accrued professional expenses 320 245 Accrued sales return allowance 191 180 Accrued dividends payable 240 217 Accrued real estate taxes 87 236 Other accrued liabilities 201 144 Accrued expenses and other current liabilities $ 2,835 $ 2,475

Note 5 - Income Taxes (Tables)

Note 5 - Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	March 31, 2018 2017 Deferred tax assets: Accrued expenses $ 346 $ 474 Deferred stock compensation 353 334 Bad debt and inventory reserves 22 29 Total deferred tax assets 721 837 Deferred tax liabilities: Property and equipment 1,717 1,925 Total net deferred taxes $ (996 ) $ (1,088 )
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Year Ended March 31, 2018 2017 2016 Current taxes Federal $ 15,012 $ 11,095 $ 10,982 State 1,586 1,059 1,041 Total current taxes 16,598 12,154 12,023 Deferred taxes Federal (83 ) 1,781 (21 ) State (9 ) 170 (2 ) Total deferred taxes (92 ) 1,951 (23 ) Total provision for income taxes $ 16,506 $ 14,105 $ 12,000
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Year Ended March 31, 2018 2017 2016 Income taxes at U.S. statutory rates $ 16,943 $ 13,274 $ 11,399 State income taxes, net of federal tax benefit 1,078 858 675 Restricted stock windfall adjustment (1,086 ) Reduction of deferred tax liability due to rate reduction (430 ) Permanent differences 1 1 (23 ) Other - (28 ) (51 ) Total provision for income taxes $ 16,506 $ 14,105 $ 12,000

Note 6 - Net Income Per Share (

Note 6 - Net Income Per Share (Tables)	12 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year Ended March 31, 2018 2017 2016 Net income (numerator): Net income $ 37,283 $ 23,819 $ 20,567 Shares (denominator) Weighted average number of common shares outstanding used in basic computation 20,346 20,232 20,124 Common shares issuable upon the vesting of restricted stock 77 136 120 Common shares issuable upon conversion of preferred shares 10 10 10 Shares used in diluted computation 20,433 20,378 20,254 Net income per common share: Basic $ 1.83 $ 1.18 $ 1.02 Diluted $ 1.82 $ 1.17 $ 1.02

Note 7 - Shareholders' Equity (

Note 7 - Shareholders' Equity (Tables)	12 Months Ended
	Mar. 31, 2018
Notes Tables
Dividends Declared [Table Text Block]	Declaration Date Per Share Dividend Record Date Total Amount (In thousands) Payment Date May 8, 2017 $0.20 May 19, 2017 $ 4,105 May 26, 2017 July 24, 2017 $0.20 August 7, 2017 $ 4,121 August 18, 2017 October 23, 2017 $0.20 November 6, 2017 $ 4,121 November 17, 2017 January 22, 2018 $0.25 February 5, 2018 $ 5,150 February 16, 2018

Note 8 - Restricted Stock (Tabl

Note 8 - Restricted Stock (Tables)	12 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Nonvested Share Activity [Table Text Block]	Employee Plan Number of Shares (In thousands) Director Plan Number of Shares (In thousands) Both Plans Number of Shares (In thousands) Non-vested restricted stock outstanding at March 31, 2017 172 60 232 Restricted stock granted 49 30 79 Restricted stock vested (84 ) (30 ) (114 ) Restricted stock forfeited or expired (4 ) - (4 ) Non-vested restricted stock outstanding at March 31, 2018 133 60 193

Note 13 - Quarterly Financial29

Note 13 - Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Mar. 31, 2018
Notes Tables
Quarterly Financial Information [Table Text Block]	Quarter Ended: June 30, 2017 September 30, 2017 December 31, 2017 March 31, 2018 Sales $ 79,657 $ 66,711 $ 60,110 $ 67,322 Gross Profit $ 27,465 $ 23,479 $ 21,944 $ 24,919 Income from operations $ 14,416 $ 12,248 $ 11,468 $ 14,004 Net income $ 9,276 $ 8,760 $ 9,064 $ 10,183 Diluted net income per common share $ 0.45 $ 0.43 $ 0.44 $ 0.50 Quarter Ended: June 30, 2016 September 30, 2016 December 31, 2016 March 31, 2017 Sales $ 72,487 $ 60,791 $ 52,866 $ 63,032 Gross Profit $ 22,452 $ 18,064 $ 16,643 $ 22,155 Income from operations $ 10,400 $ 7,731 $ 7,655 $ 11,697 Net income $ 6,594 $ 4,899 $ 4,823 $ 7,503 Diluted net income per common share $ 0.32 $ 0.24 $ 0.24 $ 0.37

Note 1 - Summary of Significa30

Note 1 - Summary of Significant Accounting Policies (Details Textual)	12 Months Ended
	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)
Allowance for Doubtful Accounts Receivable, Current, Ending Balance	$ 35,000	$ 27,000
Inventory Valuation Reserves, Ending Balance	58,000	51,000
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax	$ 0	$ 0	$ 54,000
Cost of Goods, Total [Member] | Supplier Concentration Risk [Member]
Number of Suppliers	4	4
Concentration Risk, Percentage	50.00%	50.00%
Building [Member]
Property, Plant and Equipment, Useful Life	30 years
Furniture, Fixtures, Equipment and Computer Software [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Furniture, Fixtures, Equipment and Computer Software [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	10 years

Note 1 - Summary of Significa31

Note 1 - Summary of Significant Accounting Policies - Comprehensive Income (Details) - USD ($)	3 Months Ended								12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Net income	$ 10,183,000	$ 9,064,000	$ 8,760,000	$ 9,276,000	$ 7,503,000	$ 4,823,000	$ 4,899,000	$ 6,594,000	$ 37,283,000	$ 23,819,000	$ 20,567,000
Net change in unrealized gain on short term investments									0	0	54,000
Comprehensive income									$ 37,283,000	$ 23,819,000	$ 20,621,000

Note 2 - Property and Equipme32

Note 2 - Property and Equipment - Major Classifications of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Property and equipment, gross	$ 34,914	$ 34,211
Less: accumulated depreciation	(6,173)	(4,047)
Property and equipment, net	28,741	30,164
Building [Member]
Property and equipment, gross	14,997	14,988
Land [Member]
Property and equipment, gross	3,700	3,700
Building Improvements [Member]
Property and equipment, gross	2,807	2,592
Software and Software Development Costs [Member]
Property and equipment, gross	5,504	5,068
Furniture and Fixtures [Member]
Property and equipment, gross	$ 7,906	$ 7,863

Note 3 - Valuation and Qualif33

Note 3 - Valuation and Qualifying Accounts - Activity in the Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Balance at beginning of period	$ 27	$ 13	$ 8
Bad debt expense	112	421	260
Write-off of uncollectible accounts receivable	(104)	(407)	(255)
Balance at end of year	$ 35	$ 27	$ 13

Note 4 - Accrued Expenses and34

Note 4 - Accrued Expenses and Other Current Liabilities - Major Classifications of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Accrued sales tax	$ 449	$ 450
Accrued credit card fees	381	364
Accrued salaries and benefits	966	639
Accrued professional expenses	320	245
Accrued sales return allowance	191	180
Accrued dividends payable	240	217
Accrued real estate taxes	87	236
Other accrued liabilities	201	144
Accrued expenses and other current liabilities	$ 2,835	$ 2,475

Note 5 - Income Taxes (Details

Note 5 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		31.50%
Income Tax Expense Reduction (Increase) Due to Blended Rate		$ 1,900,000
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability		(430,000)
Effective Income Tax Rate Reconciliation, Share-based Compensation, Excess Tax Benefit, Amount		(1,086,000)
Tax Adjustments, Settlements, and Unusual Provisions		150,000
Scenario, Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Domestic Tax Authority [Member]
Operating Loss Carryforwards, Total		$ 0

Note 5 - Income Taxes - Deferre

Note 5 - Income Taxes - Deferred Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Deferred tax assets:
Accrued expenses	$ 346	$ 474
Deferred stock compensation	353	334
Bad debt and inventory reserves	22	29
Total deferred tax assets	721	837
Deferred tax liabilities:
Property and equipment	1,717	1,925
Total net deferred taxes	$ (996)	$ (1,088)

Note 5 - Income Taxes - Compone

Note 5 - Income Taxes - Components of Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Current taxes
Federal	$ 15,012	$ 11,095	$ 10,982
State	1,586	1,059	1,041
Total current taxes	16,598	12,154	12,023
Deferred taxes
Federal	(83)	1,781	(21)
State	(9)	170	(2)
Total deferred taxes	(92)	1,951	(23)
Total provision for income taxes	$ 16,506	$ 14,105	$ 12,000

Note 5 - Income Taxes - Reconci

Note 5 - Income Taxes - Reconciliation of Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Income taxes at U.S. statutory rates	$ 16,943	$ 13,274	$ 11,399
State income taxes, net of federal tax benefit	1,078	858	675
Restricted stock windfall adjustment	(1,086)
Reduction of deferred tax liability due to rate reduction		(430)
Permanent differences	1	1	(23)
Other		(28)	(51)
Total provision for income taxes	$ 16,506	$ 14,105	$ 12,000

Note 6 - Net Income Per Share39

Note 6 - Net Income Per Share (Details Textual)	12 Months Ended
	Mar. 31, 2018shares
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	77,350

Note 6 - Net Income Per Share -

Note 6 - Net Income Per Share - Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Net income (numerator):
Net income	$ 10,183	$ 9,064	$ 8,760	$ 9,276	$ 7,503	$ 4,823	$ 4,899	$ 6,594	$ 37,283	$ 23,819	$ 20,567
Shares (denominator)
Weighted average number of common shares outstanding used in basic computation (in shares)									20,346	20,232	20,124
Common shares issuable upon the vesting of restricted stock (in shares)									77	136	120
Common shares issuable upon conversion of preferred shares (in shares)									10	10	10
Shares used in diluted computation (in shares)									20,433	20,378	20,254
Net income per common share
Basic (in dollars per share)									$ 1.83	$ 1.18	$ 1.02
Diluted (in dollars per share)	$ 0.50	$ 0.44	$ 0.43	$ 0.45	$ 0.37	$ 0.24	$ 0.24	$ 0.32	$ 1.82	$ 1.17	$ 1.02

Note 7 - Shareholders' Equity41

Note 7 - Shareholders' Equity (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Apr. 30, 1998	Mar. 31, 2018	Mar. 31, 2017	Jan. 22, 2018	May 08, 2017	May 09, 2016	Aug. 01, 2011	Nov. 01, 2010	Oct. 31, 2008	Nov. 08, 2006
Preferred Stock, Shares Issued, Total	250,000	3,000	3,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001	$ 0.001
Shares Issued, Price Per Share	$ 4
Payments of Stock Issuance Costs	$ 112,187
Convertible Preferred Stock, Shares Issued upon Conversion	4.05
Preferred Stock, Liquidation Preference Per Share	$ 4	$ 4	$ 4
Preferred Stock, Shares Outstanding, Ending Balance		3,000	3,000
Stock Repurchase Program, Authorized Amount							$ 20,000,000	$ 20	$ 20,000,000	$ 20,000,000
Treasury Stock, Shares, Acquired		0	0
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 10,200,000
Dividends Payable, Amount Per Share				$ 0.25	$ 0.20	$ 0.19
Convertible Preferred Stock [Member]
Preferred Stock, Shares Outstanding, Ending Balance		2,500	2,500

Note 7 - Shareholder's Equity -

Note 7 - Shareholder's Equity - Declared Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2018	Jan. 22, 2018	May 08, 2017	May 09, 2016
Per Share Dividend (in dollars per share)		$ 0.25	$ 0.20	$ 0.19
May 8, 2017 [Member]
Declaration Date	May 8, 2017
Per Share Dividend (in dollars per share)	$ 0.20
Record Date	May 19, 2017
Total Amount	$ 4,105
Payment Date	May 26, 2017
July 24, 2017 [Member]
Declaration Date	Jul. 24, 2017
Per Share Dividend (in dollars per share)	$ 0.20
Record Date	Aug. 7, 2017
Total Amount	$ 4,121
Payment Date	Aug. 18, 2017
October 23, 2017 [Member]
Declaration Date	Oct. 23, 2017
Per Share Dividend (in dollars per share)	$ 0.20
Record Date	Nov. 6, 2017
Total Amount	$ 4,121
Payment Date	Nov. 17, 2017
January 22, 2018 [Member]
Declaration Date	Jan. 22, 2018
Per Share Dividend (in dollars per share)	$ 0.25
Record Date	Feb. 5, 2018
Total Amount	$ 5,150
Payment Date	Feb. 16, 2018

Note 8 - Restricted Stock (Deta

Note 8 - Restricted Stock (Details Textual) - USD ($) $ in Thousands	1 Months Ended			12 Months Ended
	Jul. 31, 2016	Jul. 31, 2015	Jul. 31, 2012	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016	Jul. 28, 2006
Percentage of Automatic Increase in Shares Available for Issuance			10.00%
Share-based Compensation, Total				$ 2,575	$ 1,935	$ 1,612
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance				193	232
2006 Employee Equity Compensation Restricted Stock Plan (the "Employee Plan") | Restricted Stock [Member]
Common Stock, Capital Shares Reserved for Future Issuance				974,609			1,000,000
2006 Outside Director Equity Compensation Restricted Stock Plan (the "Director Plan") [Member] | Restricted Stock [Member]
Common Stock, Capital Shares Reserved for Future Issuance			400,000	272,000			200,000
2015 Outside Director Equity Compensation Restricted Stock Plan [Member] | Restricted Stock [Member]
Common Stock, Capital Shares Reserved for Future Issuance		400,000		60,000
Percentage of Automatic Increase in Shares Available for Issuance		10.00%
2016 Employee Equity Compensation Restricted Stock Plan [Member] | Restricted Stock [Member]
Common Stock, Capital Shares Reserved for Future Issuance	1,000,000			47,350
2016 Employee Equity Compensation Restricted Stock Plan [Member] | Restricted Stock [Member] | Minimum [Member]
Restriction Period	1 year
2016 Employee Equity Compensation Restricted Stock Plan [Member] | Restricted Stock [Member] | Maximum [Member]
Restriction Period	10 years
Employee and Director Equity Compensation Plan [Member] | Non-vested Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance				192,968	232,253
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total				75,081	78,582
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total				$ 4,400	$ 3,300
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition				1 year 182 days	1 year 292 days

Note 8 - Restricted Stock - Non

Note 8 - Restricted Stock - Non-vested Restricted Stock (Details)	12 Months Ended
	Mar. 31, 2018shares
Non-vested restricted stock outstanding at March 31, 2017 (in shares)	232
Restricted stock granted (in shares)	79
Restricted stock vested (in shares)	(114)
Restricted stock forfeited or expired (in shares)	(4)
Non-vested restricted stock outstanding at March 31, 2018 (in shares)	193
Employee Plan [Member]
Non-vested restricted stock outstanding at March 31, 2017 (in shares)	172
Restricted stock granted (in shares)	49
Restricted stock vested (in shares)	(84)
Restricted stock forfeited or expired (in shares)	(4)
Non-vested restricted stock outstanding at March 31, 2018 (in shares)	133
Director Plan [Member]
Non-vested restricted stock outstanding at March 31, 2017 (in shares)	60
Restricted stock granted (in shares)	30
Restricted stock vested (in shares)	(30)
Restricted stock forfeited or expired (in shares)
Non-vested restricted stock outstanding at March 31, 2018 (in shares)	60

Note 10 - Commitments and Con45

Note 10 - Commitments and Contingencies (Details Textual)	Mar. 16, 2016USD ($)shares	Jan. 31, 2016ft²	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)ft²	Mar. 31, 2016USD ($)
Delray Beach Property [Member]
Area of Real Estate Property | ft²		88,000
Percentage of Property Leased to Tenants		48.00%
Number of Tenants		2
Lessor, Operating Lease, Remaining Weighted Average Lease Term			2 years
Rental Income, Nonoperating			$ 604,000	$ 586,000
Operating Leases, Future Minimum Payments Receivable, Current			622,000
Operating Leases, Future Minimum Payments Receivable, in Two Years			484,000
Operating Leases, Future Minimum Payments Receivable, in Three Years			$ 97,000
Operating Lease Agreement [Member]
Area of Real Estate Property | ft²				65,300
Operating Leases, Rent Expense, Net, Total				$ 519,000	$ 781,000
Chief Executive Officer [Member]
Term of Agreement	3 years
Salary and Wage, Officer, Excluding Cost of Good and Service Sold	$ 600,000
Stock Issued During Period, Shares, Restricted Stock Award, Gross | shares	120,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years

Note 11 - Employee Benefit Pl46

Note 11 - Employee Benefit Plan (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Deferred Compensation Arrangement with Individual, Requisite Service Period	1 year
Defined Contribution Plan With Individual Age	21 years
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Amount	$ 166,000	$ 181,000	$ 177,000

Note 12 - Subsequent Events (De

Note 12 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Millions	May 07, 2018	Jan. 22, 2018	May 08, 2017	May 09, 2016
Dividends Payable, Amount Per Share		$ 0.25	$ 0.20	$ 0.19
Subsequent Event [Member]
Dividends Payable, Amount Per Share	$ 0.25
Dividends Payable	$ 5.2
Dividends Payable, Date Declared	May 7, 2018
Dividends Payable, Date to be Paid	May 25, 2018
Dividends Payable, Date of Record	May 18, 2018

Note 13 - Quarterly Financial48

Note 13 - Quarterly Financial Data (Unaudited) - Summarized Unaudited Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Sales	$ 67,322	$ 60,110	$ 66,711	$ 79,657	$ 63,032	$ 52,866	$ 60,791	$ 72,487	$ 273,800	$ 249,176	$ 234,684
Gross Profit	24,919	21,944	23,479	27,465	22,155	16,643	18,064	22,452	97,807	79,314	76,296
Income from operations	14,004	11,468	12,248	14,416	11,697	7,655	7,731	10,400	52,136	37,483	32,388
Net income	$ 10,183	$ 9,064	$ 8,760	$ 9,276	$ 7,503	$ 4,823	$ 4,899	$ 6,594	$ 37,283	$ 23,819	$ 20,567
Diluted net income per common share (in dollars per share)	$ 0.50	$ 0.44	$ 0.43	$ 0.45	$ 0.37	$ 0.24	$ 0.24	$ 0.32	$ 1.82	$ 1.17	$ 1.02