Hawkins (HWKN) 10-Q 3 Feb 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Dec. 29, 2013	Jan. 31, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'HAWKINS INC	'
Entity Central Index Key	'0000046250	'
Document Type	'10-Q	'
Document Period End Date	29-Dec-13	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Current Fiscal Year End Date	'--03-30	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	10,620,560

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Dec. 29, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
CURRENT ASSETS:	'	'
Cash and cash equivalents	$27,860	$28,715
Investments available-for-sale	13,951	15,625
Trade receivables - less allowance for doubtful accounts: $412 as of December 29, 2013 and $469 as of March 31, 2013	34,318	35,920
Inventories	30,724	28,208
Prepaid expenses and other current assets	3,398	2,613
Total current assets	110,251	111,081
PROPERTY, PLANT, AND EQUIPMENT:	'	'
Property, plant and equipment	159,464	153,055
Less accumulated depreciation and amortization	-68,115	-62,081
Net property, plant, and equipment	91,349	90,974
Goodwill	7,392	6,495
Intangible assets — less accumulated amortization: $2,886 as of December 29, 2013 and $2,398 as of March 31, 2013	8,692	7,678
Long-term investments	12,941	5,597
Other	322	323
Total other assets	29,347	20,093
Total assets	230,947	222,148
CURRENT LIABILITIES:	'	'
Accounts payable — trade	17,500	18,516
Dividends payable	0	3,592
Accrued payroll and employee benefits	5,600	5,391
Deferred income taxes	2,175	2,554
Income tax payable	1,849	1,446
Other current liabilities	4,278	3,626
Total current liabilities	31,402	35,125
PENSION WITHDRAWAL LIABILITY	6,961	7,136
OTHER LONG-TERM LIABILITIES	1,786	1,653
DEFERRED INCOME TAXES	9,870	8,062
Total liabilities	50,019	51,976
COMMITMENTS AND CONTINGENCIES	'	'
SHAREHOLDERS’ EQUITY:	'	'
Common stock; authorized: 30,000,000 shares of $0.05 par value; 10,547,822 and 10,495,427 shares issued and outstanding as of December 29, 2013 and March 31, 2013, respectively	528	525
Additional paid-in capital	49,651	48,779
Retained earnings	130,954	120,974
Accumulated other comprehensive loss	-205	-106
Total shareholders’ equity	180,928	170,172
Total liabilities and shareholders’ equity	$230,947	$222,148

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) (USD $)	Dec. 29, 2013	Mar. 31, 2013
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]	'	'
Allowance for doubtful accounts, trade receivables	$412	$469
Intangible assets accumulated amortization	$2,886	$2,398
Shares authorized (shares)	30,000,000	30,000,000
Common stock, par value (usd per share)	$0.05	$0.05
Common stock, shares issued (shares)	10,547,882	10,495,427
Common stock, shares outstanding (shares)	10,547,882	10,495,427

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012
Income Statement [Abstract]	'	'	'	'
Sales	$81,697	$85,527	$263,040	$262,786
Cost of sales	-68,147	-70,191	-215,689	-212,947
Multiemployer Pension Plan Withdrawal Charge	0	7,210	0	7,210
Gross profit	13,550	8,126	47,351	42,629
Selling, general and administrative expenses	-8,167	-7,617	-25,430	-23,299
Operating income	5,383	509	21,921	19,330
Interest (expense) income	9	35	-18	99
Income from continuing operations before income taxes	5,392	544	21,903	19,429
Income tax provision	-1,912	804	-8,104	-6,486
Income from continuing operations	3,480	1,348	13,799	12,943
Income from discontinued operations, net of tax	0	0	0	18
Net income	$3,480	$1,348	$13,799	$12,961
Weighted average number of shares outstanding - basic	10,547,882	10,474,214	10,538,595	10,454,669
Weighted average number of shares outstanding - diluted	10,595,935	10,535,549	10,590,880	10,528,150
Basic earnings per share	'	'	'	'
Earnings per share from continuing operations (usd per share)	$0.33	$0.13	$1.31	$1.24
Earnings per share from discontinued operations (usd per share)	$0	$0	$0	$0
Basic earnings per share (usd per share)	$0.33	$0.13	$1.31	$1.24
Diluted earnings per share	'	'	'	'
Earnings per share from continuing operations (usd per share)	$0.33	$0.13	$1.30	$1.23
Earnings per share from discontinued operations (usd per share)	$0	$0	$0	$0
Diluted earnings per share (usd per share)	$0.33	$0.13	$1.30	$1.23
Cash dividends declared per common share (usd per share)	$0	$0	$0.36	$0.34

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012
Statement of Other Comprehensive Income [Abstract]	'	'	'	'
Net income	$3,480	$1,348	$13,799	$12,961
Other comprehensive income (loss), net of tax:	'	'	'	'
Unrealized gain (loss) on available-for-sale investments	-17	1	-61	7
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax	-38	0	-38	78
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	-55	1	-99	85
Total comprehensive income	$3,425	$1,349	$13,700	$13,046

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	$13,799	$12,961
Reconciliation to cash flows:	'	'
Depreciation and amortization	9,678	7,224
Deferred income taxes	1,216	80
Stock compensation expense	946	1,235
Multiemployer Pension Plan Withdrawal	0	7,210
Loss (gain) from property disposals	35	140
Changes in operating accounts providing (using) cash:	'	'
Trade receivables	1,708	2,803
Inventories	-2,188	-1,281
Accounts payable	-301	1,711
Accrued liabilities	402	-1,987
Income taxes	403	1,070
Other	-786	-1,162
Net cash provided by operating activities	24,912	30,004
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Additions to property, plant, and equipment	-10,489	-20,083
Purchases of investments	-17,956	-16,795
Sale and maturities of investments	12,185	8,530
Payments to Acquire Businesses, Net of Cash Acquired	-2,416	-100
Proceeds from property disposals	114	160
Net cash used in investing activities	-18,562	-28,288
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Cash dividends paid	-7,410	-6,936
Stock Issued	459	500
Shares surrendered for payroll taxes	-485	0
Proceeds from the exercise of stock options	186	515
Excess tax benefit from share-based compensation	45	222
Net cash used in financing activities	-7,205	-5,699
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	-855	-3,983
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	28,715	28,566
CASH AND CASH EQUIVALENTS, END OF PERIOD	27,860	24,583
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION	'	'
Cash paid for income taxes	6,426	5,124
Noncash investing activities - Capital expenditures in accounts payable	$529	$516

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Dec. 29, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions for Form 10-Q and, accordingly, do not include all information and footnotes required by generally accepted accounting principles for complete financial statements. These statements should be read in conjunction with the consolidated financial statements and footnotes included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2013, previously filed with the Securities and Exchange Commission (“SEC”). In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly our financial position and the results of our operations and cash flows for the periods presented. All adjustments made to the interim condensed consolidated financial statements were of a normal recurring nature. All significant intercompany accounts and transactions have been eliminated in consolidation.
	The accounting policies we follow are set forth in “Item 8. Financial Statements and Supplementary Data, Note 1 – Nature of Business and Significant Accounting Policies” to our consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended March 31, 2013 filed with the SEC on May 30, 2013. There has been no significant change in our accounting policies since the end of fiscal 2013.
	The results of operations for the nine months ended December 29, 2013 are not necessarily indicative of the results that may be expected for the full year.
	References to fiscal 2013 refer to the fiscal year ended March 31, 2013 and references to fiscal 2014 refer to the fiscal year ending March 30, 2014.

Earnings_per_Share

Earnings per Share	9 Months Ended
	Dec. 29, 2013
Earnings Per Share [Abstract]	'
Earnings per Share	'
	Earnings per Share
	Basic earnings per share (“EPS”) are computed by dividing net earnings by the weighted-average number of common shares outstanding. Diluted EPS includes the incremental shares assumed to be issued upon the exercise of stock options and the incremental shares assumed to be issued as performance units and restricted stock. Basic and diluted EPS were calculated using the following:
		Three Months Ended		Nine Months Ended
		December 29,	December 30,	December 29,	December 30,
		2013	2012	2013	2012
	Weighted-average common shares outstanding—basic	10,547,882	10,474,214	10,538,595	10,454,669
	Dilutive impact of stock options, performance units, and restricted stock	48,053	61,335	52,285	73,481
	Weighted-average common shares outstanding—diluted	10,595,935	10,535,549	10,590,880	10,528,150
	For the three and nine months ended December 29, 2013 and December 30, 2012, there were no shares or stock options excluded from the calculation of weighted-average common shares for diluted EPS.

Business_Combinations_Notes

Business Combinations (Notes)	9 Months Ended
	Dec. 29, 2013
Business Combinations [Abstract]	'
Business Combination Disclosure [Text Block]	'
	Note 3 – Business Combinations
	Acquisition of Advance Chemical Solutions, Inc.: On October 1, 2013, we acquired substantially all of the assets of Advance Chemical Solutions, Inc. (“ACS”), under the terms of an asset purchase agreement with ACS and its shareholders. We paid $2.4 million in cash, and may be obligated to pay an aggregate of $0.5 million in additional consideration to ACS over the next three years. The amount of such additional payments will be based on the achievement of certain financial performance targets for each of the next three years. Costs associated with this transaction were immaterial.
	The acquisition has been accounted for under the acquisition method of accounting, under which the total estimated purchase price is allocated to the net tangible and intangible assets of ACS acquired in connection with the acquisition, based on their estimated fair values.
	In connection with this acquisition, we estimated the fair value of the future consideration payable and recorded $0.4 million for such consideration on our balance sheet. We have determined that this liability is a Level 3 fair value measurement within the FASB’s fair value hierarchy, and such liability is adjusted to fair value at each reporting date, with the adjustment reflected in selling, general and administrative expenses. The fair value adjustments recorded during the three months ended December 29, 2013 were immaterial.
	We estimated the fair value of the assets acquired and liabilities assumed to be $2.8 million using a discounted cash flow analysis (income approach). Fair values of acquired assets and liabilities include: $0.4 million of net working capital and fixed assets; $1.5 million to intangible assets; and $0.9 million to goodwill. The goodwill recognized as a result of the ACS acquisition is primarily attributable to expected synergies. Such goodwill is deductible for tax purposes.
	ACS had revenues of approximately $4 million for the 12 months ended September 30, 2013. The results of its operations since the acquisition date, and the goodwill associated with this acquisition, are included in our Water Treatment segment.

Cash_and_Cash_Equivalents_and_

Cash and Cash Equivalents and Investments	9 Months Ended
	Dec. 29, 2013
Cash and Cash Equivalents [Abstract]	'
Cash and Cash Equivalents and Investments	'
	Cash and Cash Equivalents and Investments
	The following table presents information about our financial assets that are measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.
		December 29,
	(In thousands)	2013		Level 1		Level 2		Level 3
	Assets:
	Cash	$	27,860	$	27,860	$	—	$	—
	Certificates of deposit	23,209		—		23,209		—
	Municipal bonds	3,684		—		3,684		—
		March 31,
	(In thousands)	2013		Level 1		Level 2		Level 3
	Assets:
	Cash	$	28,715	$	28,715	$	—	$	—
	Certificates of deposit	21,222		—		21,222		—
	Our financial assets that are measured at fair value on a recurring basis are certificates of deposit (“CD’s”) and municipal bonds, with original maturities ranging from three months to three years that fall within valuation technique Level 2. The CD’s and municipal bonds are classified as investments in current assets and noncurrent assets on the condensed consolidated balance sheets. As of December 29, 2013, the combined CD’s and municipal bonds had a fair value of $14.0 million in current assets and $12.9 million in noncurrent assets.
	The carrying value of cash and cash equivalents accounts approximates fair value, as original maturities are three months or less.

Inventories

Inventories	9 Months Ended
	Dec. 29, 2013
Inventory Disclosure [Abstract]	'
Inventories	'
	Inventories
	Inventories at December 29, 2013 and March 31, 2013 consisted of the following:
		December 29,			March 31,
	(In thousands)	2013			2013
	Inventory (FIFO basis)	$	37,640		$	35,281
	LIFO reserve	(6,916		)	(7,073		)
	Net inventory	$	30,724		$	28,208
	The first in, first out (“FIFO”) value of inventories accounted for under the last in, first out (“LIFO”) method was $32.8 million at December 29, 2013 and $30.3 million at March 31, 2013. The remainder of the inventory was valued and accounted for under the FIFO method.
	The LIFO reserve changed nominally during the three months ended December 29, 2013, and increased $0.1 million during the three months ended December 30, 2012. During the nine months ended December 29, 2013 the LIFO reserve decreased $0.2 million, and for the nine months ended December 30, 2012 the LIFO reserve increased $0.2 million. The valuation of LIFO inventory for interim periods is based on our estimates of year-end inventory levels and costs.

Goodwill_and_Intangible_Assets

Goodwill and Intangible Assets	9 Months Ended
	Dec. 29, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'
Goodwill and Intangible Assets	'
	Goodwill and Intangible Assets
	Goodwill. The carrying amount of goodwill as of December 29, 2013 and March 31, 2013 was $7.4 million and $6.5 million, respectively. The increase in goodwill is related to goodwill recorded in conjunction with the acquisition of ACS as discussed in Note 3.
	Intangible assets. Intangible assets consist primarily of customer lists, trademarks, trade secrets and non-compete agreements classified as finite life and trade names classified as indefinite life, related to business acquisitions. A summary of our intangible assets as of December 29, 2013 and March 31, 2013 were as follows:
		29-Dec-13							31-Mar-13
	(In thousands)	Gross		Accumulated			Net		Gross		Accumulated			Net
		Amount		Amortization					Amount		Amortization
	Finite-life intangible assets
	Customer relationships	$	6,913	$	(1,205	)	$	5,708	$	5,508	$	(981	)	$	4,527
	Trademark	1,335		(379		)	956		1,240		(274		)	966
	Trade secrets	962		(736		)	226		962		(640		)	322
	Carrier relationships	800		(237		)	563		800		(177		)	623
	Other finite-life intangible assets	341		(329		)	12		339		(326		)	13
	Total finite-life intangible assets	10,351		(2,886		)	7,465		8,849		(2,398		)	6,451
	Indefinite-life intangible assets	1,227		—			1,227		1,227		—			1,227
	Total intangible assets	$	11,578	$	(2,886	)	$	8,692	$	10,076	$	(2,398	)	$	7,678

Income_Taxes

Income Taxes	9 Months Ended
	Dec. 29, 2013
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Income Taxes
	In the preparation of our condensed consolidated financial statements, management calculates income taxes based upon the estimated effective rate applicable to operating results for the full fiscal year. This includes estimating the current tax liability as well as assessing differences resulting from different treatment of items for tax and book accounting purposes. These differences result in deferred tax assets and liabilities, which are recorded on the condensed consolidated balance sheet. These assets and liabilities are analyzed regularly and management assesses the likelihood that deferred tax assets will be recovered from future taxable income. We record any interest and penalties related to income taxes as income tax expense in the condensed consolidated statements of income.
	We recognize the effect of income tax positions only if those positions are more likely than not of being sustained. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs.
	We file income tax returns in the U.S. federal jurisdiction and numerous state and local jurisdictions. The tax years beginning with our fiscal year ended March 29, 2009 remain open to examination by the Internal Revenue Service, and with few exceptions, state and local income tax jurisdictions.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Loss	9 Months Ended
	Dec. 29, 2013
Equity [Abstract]	'
Accumulated Other Comprehensive Loss	'
	Accumulated Other Comprehensive Loss
	Components of accumulated other comprehensive loss on our balance sheet, net of tax, were as follows:
	(In thousands)	December 29,			March 31,
		2013			2013
	Unrealized gain (loss) on:
	Available-for-sale investments	$	(50	)	$	11
	Post-retirement plan liability	(155		)	(117		)
	Accumulated other comprehensive loss	$	(205	)	$	(106	)

Share_Based_Compensation

Share Based Compensation	9 Months Ended
	Dec. 29, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Share-Based Compensation	'
	Share-Based Compensation
	Stock Option Awards. Although no stock options have been granted since the fiscal year ended March 28, 2010, our Board of Directors (the "Board") previously approved a long-term incentive equity compensation arrangement for our executive officers that provided for the grant of non-qualified stock options that vested at the end of a three-year period. As of December 29, 2013, we had 9,333 stock options outstanding and exercisable at a weighted average exercise price of $19.90. No compensation expense was recorded related to stock options for the three and nine months ended December 29, 2013. Compensation expense related to stock options for the three and nine month periods ended December 30, 2012 was nominal.
	Performance-Based Restricted Stock Units. The Board approved a performance-based equity compensation arrangement for our executive officers during the first quarters of each of fiscal 2014 and 2013. These performance-based arrangements provide for the grant of performance-based restricted stock units that represent a possible future issuance of restricted shares of our common stock based on a pre-tax income target for the applicable fiscal year. The actual number of restricted shares to be issued to each executive officer is determined when our final financial information becomes available after the applicable fiscal year and will be between zero shares and 39,833 shares in the aggregate for fiscal 2014. The restricted shares issued will fully vest two years after the last day of the fiscal year on which the performance is based. We are recording the compensation expense for the outstanding performance share units and the converted restricted stock over the life of the awards.
	The following table represents the restricted stock activity for the nine months ended December 29, 2013:
		Shares		Weighted-
				Average Grant
				Date Fair Value
	Outstanding at beginning of period	63,244		$	34.26
	Granted	28,648		40.25
	Vested	(36,182	)	35.2
	Forfeited or expired	(3,606	)	33.01
	Outstanding at end of period	52,104		$	36.99
	We recorded compensation expense of $0.2 million and $0.6 million related to performance share units and restricted stock for the three and nine months ended December 29, 2013, respectively. We recorded compensation expense of $0.3 million and $0.8 million related to performance share units and restricted stock for the three and nine months ended December 30, 2012, respectively. Substantially all of the compensation expense was recorded in selling, general and administrative expenses in the condensed consolidated statements of income.
	Restricted Stock Awards. As part of their retainer, each non-employee director receives an annual grant of restricted stock for their Board services. The restricted stock awards are expensed over the requisite vesting period, which is one year from the date of issuance, based on the market value on the date of grant. As of December 29, 2013, there were 6,055 shares of restricted stock with a weighted averaged grant date fair value of $40.42 outstanding under this program. Compensation expense for each of the the three and nine months ended December 29, 2013 and December 30, 2012 related to restricted stock awards to the Board was $0.1 million and $0.2 million, respectively.

Employee_Pension_Plans

Employee Pension Plans	9 Months Ended
	Dec. 29, 2013
Compensation and Retirement Disclosure [Abstract]	'
Employee Pension Plans	'
	Employee Pension Plans
	Multiemployer pension plan. In fiscal 2013, we concluded negotiations with two collective bargaining units to discontinue our participation in the Central States, Southeast and Southwest Areas Pension Fund (“CSS” or “the plan”), a collectively bargained multiemployer pension plan. As a result, we recorded a pre-tax charge of $7.2 million (approximately $4.5 million after tax, or $0.43 per share, fully diluted) in the third quarter of fiscal 2013. This charge represents the discounted value of our withdrawal payment obligation and was recorded as a charge to cost of sales in our Industrial segment.
	Payment of our share of the unfunded vested benefit liability will be made over 20 years and is subject to a cap. At the end of the 20-year period we will have no further liability, even if our share of the unfunded vested benefit liability has not yet been paid in full. The aggregate cash payments to be made will total approximately $9.3 million, or $467,000 per year. Our payments began in the third quarter of fiscal 2014.
	Effective March 1, 2013, we established defined-contribution retirement benefits to our union employees that are similar to those benefits currently offered to our non-union employees.

Litigation_Commitments_and_Con

Litigation, Commitments and Contingencies	9 Months Ended
	Dec. 29, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Litigation, Commitments and Contingencies	'
	Litigation, Commitments and Contingencies
	Litigation — There are no material pending legal proceedings, other than ordinary routine litigation incidental to the business, to which we or any of our subsidiaries are a party or of which any of our property is the subject. Legal fees associated with such matters are expensed as incurred.
	In the first quarter of fiscal 2013, we entered into a settlement agreement with a chemical supplier to us, pursuant to which we mutually resolved the previously disclosed litigation and all disputes among us. The settlement provided for a cash payment by us to the supplier and provided that both parties enter into new contracts for the supply by the supplier of certain chemicals to us. Our obligations under the settlement agreement resulted in a $3.2 million charge to pre-tax income recorded in cost of sales in our Industrial segment (approximately $2.0 million after tax, or $0.19 per share, fully diluted) in the first quarter of fiscal 2013.

Segment_Information

Segment Information	9 Months Ended
	Dec. 29, 2013
Segment Reporting [Abstract]	'
Segment Information	'
	Segment Information
	We have two reportable segments: Industrial and Water Treatment. The accounting policies of the segments are the same as those described in the summary of significant accounting policies as disclosed in our fiscal 2013 Annual Report on Form 10-K. Product costs and expenses for each segment are based on actual costs incurred along with cost allocation of shared and centralized functions. We evaluate performance based on profit or loss from operations before income taxes not including nonrecurring gains and losses. Reportable segments are defined by product and type of customer. Segments are responsible for the sales, marketing and development of their products and services. The segments do not have separate accounting, administration, customer service or purchasing functions. There are no intersegment sales and no operating segments have been aggregated. Given our nature, it is not practical to disclose revenues from external customers for each product or each group of similar products. No single customer's revenues amounted to 10% or more of our total revenue. Sales are primarily within the United States and all assets are located within the United States.
	(In thousands)	Industrial			Water		Total
					Treatment
	Three months ended December 29, 2013:
	Sales	$	58,510		$	23,187	$	81,697
	Gross profit	7,351			6,199		13,550
	Selling, general, and administrative expenses	4,799			3,368		8,167
	Operating income	2,552			2,831		5,383
	Three months ended December 30, 2012:
	Sales	$	63,109		$	22,418	$	85,527
	Gross profit	2,627			5,499		8,126
	Selling, general, and administrative expenses	4,731			2,886		7,617
	Operating income	(2,104		)	2,613		509
	Nine months ended December 29, 2013:
	Sales	$	182,224		$	80,816	$	263,040
	Gross profit	23,855			23,496		47,351
	Selling, general, and administrative expenses	15,114			10,316		25,430
	Operating income	8,741			13,180		21,921
	Nine months ended December 30, 2012:
	Sales	$	182,474		$	80,312	$	262,786
	Gross profit	19,992			22,637		42,629
	Selling, general, and administrative expenses	14,261			9,038		23,299
	Operating income	5,731			13,599		19,330
	Gross profit for our Industrial segment was negatively impacted by the $7.2 million (pre-tax) charge in the third quarter of fiscal 2013 related to our withdrawal from a multiemployer pension plan as discussed in Note 10, and was negatively impacted by the $3.2 million (pre-tax) charge in the first quarter of fiscal 2013 related to the legal settlement discussed in Note 11. The cumulative impact of these pre-tax charges to the industrial gross profit for the nine months ended December 30, 2012 was $10.4 million.

Earnings_per_Share_Tables

Earnings per Share (Tables)	9 Months Ended
	Dec. 29, 2013
Earnings Per Share [Abstract]	'
Summary of basic and diluted EPS	'
	Basic earnings per share (“EPS”) are computed by dividing net earnings by the weighted-average number of common shares outstanding. Diluted EPS includes the incremental shares assumed to be issued upon the exercise of stock options and the incremental shares assumed to be issued as performance units and restricted stock. Basic and diluted EPS were calculated using the following:
		Three Months Ended		Nine Months Ended
		December 29,	December 30,	December 29,	December 30,
		2013	2012	2013	2012
	Weighted-average common shares outstanding—basic	10,547,882	10,474,214	10,538,595	10,454,669
	Dilutive impact of stock options, performance units, and restricted stock	48,053	61,335	52,285	73,481
	Weighted-average common shares outstanding—diluted	10,595,935	10,535,549	10,590,880	10,528,150

Cash_and_Cash_Equivalents_and_1

Cash and Cash Equivalents and Investments (Tables)	9 Months Ended
	Dec. 29, 2013
Cash and Cash Equivalents [Abstract]	'
Summary of financial assets and liabilities measured at fair value	'
	The following table presents information about our financial assets that are measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.
		December 29,
	(In thousands)	2013		Level 1		Level 2		Level 3
	Assets:
	Cash	$	27,860	$	27,860	$	—	$	—
	Certificates of deposit	23,209		—		23,209		—
	Municipal bonds	3,684		—		3,684		—
		March 31,
	(In thousands)	2013		Level 1		Level 2		Level 3
	Assets:
	Cash	$	28,715	$	28,715	$	—	$	—
	Certificates of deposit	21,222		—		21,222		—

Inventories_Tables

Inventories (Tables)	9 Months Ended
	Dec. 29, 2013
Inventory Disclosure [Abstract]	'
Summary of Inventories	'
	Inventories at December 29, 2013 and March 31, 2013 consisted of the following:
		December 29,			March 31,
	(In thousands)	2013			2013
	Inventory (FIFO basis)	$	37,640		$	35,281
	LIFO reserve	(6,916		)	(7,073		)
	Net inventory	$	30,724		$	28,208

Goodwill_and_Intangible_Assets1

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Dec. 29, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'
Schedule of intangible assets and goodwill	'
	A summary of our intangible assets as of December 29, 2013 and March 31, 2013 were as follows:
		29-Dec-13							31-Mar-13
	(In thousands)	Gross		Accumulated			Net		Gross		Accumulated			Net
		Amount		Amortization					Amount		Amortization
	Finite-life intangible assets
	Customer relationships	$	6,913	$	(1,205	)	$	5,708	$	5,508	$	(981	)	$	4,527
	Trademark	1,335		(379		)	956		1,240		(274		)	966
	Trade secrets	962		(736		)	226		962		(640		)	322
	Carrier relationships	800		(237		)	563		800		(177		)	623
	Other finite-life intangible assets	341		(329		)	12		339		(326		)	13
	Total finite-life intangible assets	10,351		(2,886		)	7,465		8,849		(2,398		)	6,451
	Indefinite-life intangible assets	1,227		—			1,227		1,227		—			1,227
	Total intangible assets	$	11,578	$	(2,886	)	$	8,692	$	10,076	$	(2,398	)	$	7,678

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Dec. 29, 2013
Equity [Abstract]	'
Summary of Accumulated other comprehensive loss	'
	Components of accumulated other comprehensive loss on our balance sheet, net of tax, were as follows:
	(In thousands)	December 29,			March 31,
		2013			2013
	Unrealized gain (loss) on:
	Available-for-sale investments	$	(50	)	$	11
	Post-retirement plan liability	(155		)	(117		)
	Accumulated other comprehensive loss	$	(205	)	$	(106	)

Share_Based_Compensation_Table

Share Based Compensation (Tables) (Performance-Based Restricted Stock [Member])	9 Months Ended
	Dec. 29, 2013
Performance-Based Restricted Stock [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Summary of performance-based restricted stock units	'
	The following table represents the restricted stock activity for the nine months ended December 29, 2013:
		Shares		Weighted-
				Average Grant
				Date Fair Value
	Outstanding at beginning of period	63,244		$	34.26
	Granted	28,648		40.25
	Vested	(36,182	)	35.2
	Forfeited or expired	(3,606	)	33.01
	Outstanding at end of period	52,104		$	36.99

Segment_Information_Tables

Segment Information (Tables)	9 Months Ended
	Dec. 29, 2013
Segment Reporting [Abstract]	'
Summary of Segment Information	'
	(In thousands)	Industrial			Water		Total
					Treatment
	Three months ended December 29, 2013:
	Sales	$	58,510		$	23,187	$	81,697
	Gross profit	7,351			6,199		13,550
	Selling, general, and administrative expenses	4,799			3,368		8,167
	Operating income	2,552			2,831		5,383
	Three months ended December 30, 2012:
	Sales	$	63,109		$	22,418	$	85,527
	Gross profit	2,627			5,499		8,126
	Selling, general, and administrative expenses	4,731			2,886		7,617
	Operating income	(2,104		)	2,613		509
	Nine months ended December 29, 2013:
	Sales	$	182,224		$	80,816	$	263,040
	Gross profit	23,855			23,496		47,351
	Selling, general, and administrative expenses	15,114			10,316		25,430
	Operating income	8,741			13,180		21,921
	Nine months ended December 30, 2012:
	Sales	$	182,474		$	80,312	$	262,786
	Gross profit	19,992			22,637		42,629
	Selling, general, and administrative expenses	14,261			9,038		23,299
	Operating income	5,731			13,599		19,330

Earning_per_Share_Details

Earning per Share (Details)	3 Months Ended		9 Months Ended
	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012
Summary of basic and diluted EPS	'	'	'	'
Weighted-average common shares outstanding-basic (shares)	10,547,882	10,474,214	10,538,595	10,454,669
Dilutive impact of stock options, performance units, and restricted stock (shares)	48,053	61,335	52,285	73,481
Weighted-average common shares outstanding-diluted (shares)	10,595,935	10,535,549	10,590,880	10,528,150

Earnings_per_Share_Details_Tex

Earnings per Share (Details Textual)	3 Months Ended		9 Months Ended
	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012
Earnings Per Share [Abstract]	'	'	'	'
Shares or stock options excluded from the calculation of diluted EPS	0	0	0	0

Business_Combinations_Details

Business Combinations (Details) (Advance Chemical Solutions, Inc. [Member], USD $)	3 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Dec. 29, 2013	Sep. 29, 2013	Oct. 01, 2013
Advance Chemical Solutions, Inc. [Member]	'	'	'
Business Acquisition [Line Items]	'	'	'
Business Acquisition, Cost of Acquired Entity, Cash Paid	'	'	$2.40
Business Acquisition, Contingent Consideration, Potential Cash Payment	'	'	0.5
Contingent Consideration Measurement Period	'3 years	'	'
Business Acquisition, Contingent Consideration, at Fair Value	'	'	0.4
Business Acquisition, Purchase Price Allocation, Assets Acquired (Liabilities Assumed), Net	'	'	2.8
Business Acquisition, Purchase Price Allocation, Working Capital and Fixed Assets	'	'	0.4
Business Acquisition, Purchase Price Allocation, Amortizable Intangible Assets	'	'	1.5
Business Acquisition, Purchase Price Allocation, Goodwill Amount	'	'	0.9
Business Acquisition, Revenue Reported by Acquired Entity for Last Annual Period	'	$4	'

Cash_and_Cash_Equivalents_and_2

Cash and Cash Equivalents and Investments (Details) (USD $)	Dec. 29, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Total [Member] | Cash [Member]	'	'
Assets:	'	'
Cash/Certificates of deposit/Money market securities	$27,860	$28,715
Total [Member] | Certificates of deposit [Member]	'	'
Assets:	'	'
Cash/Certificates of deposit/Money market securities	23,209	21,222
Total [Member] | Municipal bonds [Member]	'	'
Assets:	'	'
Cash/Certificates of deposit/Money market securities	3,684	'
Level 1 [Member] | Cash [Member]	'	'
Assets:	'	'
Cash/Certificates of deposit/Money market securities	27,860	28,715
Level 1 [Member] | Certificates of deposit [Member]	'	'
Assets:	'	'
Cash/Certificates of deposit/Money market securities	0	0
Level 2 [Member] | Certificates of deposit [Member]	'	'
Assets:	'	'
Cash/Certificates of deposit/Money market securities	23,209	21,222
Level 2 [Member] | Municipal bonds [Member]	'	'
Assets:	'	'
Cash/Certificates of deposit/Money market securities	3,684	'
Level 3 [Member] | Cash [Member]	'	'
Assets:	'	'
Cash/Certificates of deposit/Money market securities	0	0
Level 3 [Member] | Certificates of deposit [Member]	'	'
Assets:	'	'
Cash/Certificates of deposit/Money market securities	0	0
Level 3 [Member] | Municipal bonds [Member]	'	'
Assets:	'	'
Cash/Certificates of deposit/Money market securities	$0	'

Cash_and_Cash_Equivalents_and_3

Cash and Cash Equivalents and Investments (Details Textual) (USD $)	9 Months Ended
	Dec. 29, 2013
Cash and Cash Equivalents [Line Items]	'
Available-for-sale Securities, Fair Value Disclosure	$14,000,000
Long Term Investments Fair Value Disclosure	$12,941,000
Maturities period of cash and cash equivalents	'three months or less
Level 2 [Member]	'
Cash and Cash Equivalents [Line Items]	'
Maturities period of certificates of deposit minimum	'3 months
Maturities period of certificates of deposit maximum	'3 years

Inventories_Details

Inventories (Details) (USD $)	Dec. 29, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Summary of Inventories	'	'
Inventory (FIFO basis)	$37,640	$35,281
LIFO reserve	-6,916	-7,073
Net inventory	$30,724	$28,208

Inventories_Details_Textual

Inventories (Details Textual) (USD $)	3 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012	Mar. 31, 2013
Inventory Disclosure [Abstract]	'	'	'	'
Finished goods (LIFO basis)	'	$32.80	'	$30.30
Decrease (Increase) in LIFO reserve	$0.10	($0.20)	$0.20	'

Goodwill_and_Intangible_Assets2

Goodwill and Intangible Assets (Details) (USD $)	Dec. 29, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Summary of Finite-Lived Intangible Assets [Line Items]	'	'
Finite-life intangible assets, Gross Carrying Amount	$10,351	$8,849
Finite-life intangible assets, Accumulated Amortization	-2,886	-2,398
Total finite-life intangible assets, Net	7,465	6,451
Indefinite-life intangible assets gross	1,227	1,227
Indefinite-life intangible assets, Accumulated Amortization	0	0
Indefinite-life intangible assets	1,227	1,227
Intangible assets, Gross Carrying Amount	11,578	10,076
Intangible assets, Accumulated Amortization	-2,886	-2,398
Total intangible assets, net	8,692	7,678
Customer relationships [Member]	'	'
Summary of Finite-Lived Intangible Assets [Line Items]	'	'
Finite-life intangible assets, Gross Carrying Amount	6,913	5,508
Finite-life intangible assets, Accumulated Amortization	-1,205	-981
Total finite-life intangible assets, Net	5,708	4,527
Trademarks [Member]	'	'
Summary of Finite-Lived Intangible Assets [Line Items]	'	'
Finite-life intangible assets, Gross Carrying Amount	1,335	1,240
Finite-life intangible assets, Accumulated Amortization	-379	-274
Total finite-life intangible assets, Net	956	966
Trade secrets [Member]	'	'
Summary of Finite-Lived Intangible Assets [Line Items]	'	'
Finite-life intangible assets, Gross Carrying Amount	962	962
Finite-life intangible assets, Accumulated Amortization	-736	-640
Total finite-life intangible assets, Net	226	322
Carrier relationships [Member]	'	'
Summary of Finite-Lived Intangible Assets [Line Items]	'	'
Finite-life intangible assets, Gross Carrying Amount	800	800
Finite-life intangible assets, Accumulated Amortization	-237	-177
Total finite-life intangible assets, Net	563	623
Other finite-life intangible assets [Member]	'	'
Summary of Finite-Lived Intangible Assets [Line Items]	'	'
Finite-life intangible assets, Gross Carrying Amount	341	339
Finite-life intangible assets, Accumulated Amortization	-329	-326
Total finite-life intangible assets, Net	$12	$13

Goodwill_and_Intangible_Assets3

Goodwill and Intangible Assets (Details Textual) (USD $)	Dec. 29, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Goodwill and Intangible Assets Disclosure [Abstract]	'	'
Goodwill	$7,392	$6,495

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Loss (Details) (USD $)	Dec. 29, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Unrealized gain (loss) on:	'	'
Available-for-sale investments	($50)	$11
Post-retirement plan liability	-155	-117
Accumulated other comprehensive loss	($205)	($106)

Share_Based_Compensation_Detai

Share Based Compensation (Details 1) (Performance-Based Restricted Stock [Member], USD $)	9 Months Ended
	Dec. 29, 2013
Performance-Based Restricted Stock [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]	'
Beginning Balance (shares)	63,244
Granted (shares)	28,648
Vested (shares)	-36,182
Forfeited or expired (shares)	-3,606
Ending Balance (shares)	52,104
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]	'
Beginning Balance, Weighted average grant date fair value (usd per share)	$34.26
Granted, Weighted average grant date fair value (usd per share)	$40.25
Vested, Weighted average grant date fair value (usd per share)	$35.20
Forfeited or expired, Weighted average grant date fair value (usd per share)	$33.01
Ending Balance, Weighted average grant date fair value (usd per share)	$36.99

Share_Based_Compensation_Detai1

Share Based Compensation (Details Textual) (USD $)	3 Months Ended		9 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012
Stock Options [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Stock options outstanding and exercisable	9,333	'	9,333	'
Weighted average exercise price (usd per share)	$19.90	'	$19.90	'
Compensation expense	$0	$0	$0	$0
Restricted Stock Units [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Range of restricted stock to be issued minimum (shares)	'	'	0	'
Range of restricted stock to be issued maximum (shares)	'	'	39,833	'
Performance-Based Restricted Stock [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Compensation expense	0.2	0.3	0.6	0.8
Vesting period	'	'	'2 years	'
Restricted Stock Awards [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Compensation expense	$0.10	$0.10	$0.20	$0.20
Vesting period	'	'	'1 year	'
Restricted stock awards outstanding (shares)	6,055	'	6,055	'
Restricted stock awards, weighted average exercise price (usd per share)	$40.42	'	$40.42	'

Employee_Pension_Plans_Details

Employee Pension Plans (Details) (USD $)	9 Months Ended	12 Months Ended
	Dec. 29, 2013	Mar. 31, 2013
		collective_barganing_units
Compensation and Retirement Disclosure [Abstract]	'	'
Number of collective bargaining agreements (agreements)	'	2
Multiemployer pension plan withdrawal pre-tax charge	'	$7,200,000
Multiemployer pension plan withdrawal post tax charge	'	4,500,000
Multiemployer pension plan withdrawal post tax charge per share (usd per share)	'	$0.43
Withdrawal liability payment term	'20 years	'
Multiemployer pension plan withdrawal aggregate cash payment	9,300,000	'
Multiemployer pension plan withdrawal aggregate cash payment per year	$467,000	'

Litigation_Commitments_and_Con1

Litigation, Commitments and Contingencies (Details) (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Jul. 01, 2012
Commitments and Contingencies Disclosure [Abstract]	'
Pretax settlement obligation	$3.20
Income recorded cost of sales after tax	$2
Income recorded cost of sales per share value (usd per share)	$0.19

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012
Segment Reporting Information [Line Items]	'	'	'	'
Revenue, Net	$81,697	$85,527	$263,040	$262,786
Gross profit	13,550	8,126	47,351	42,629
Selling, General and Administrative Expense	8,167	7,617	25,430	23,299
Operating income	5,383	509	21,921	19,330
Industrial [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue, Net	58,510	63,109	182,224	182,474
Gross profit	7,351	2,627	23,855	19,992
Selling, General and Administrative Expense	4,799	4,731	15,114	14,261
Operating income	2,552	-2,104	8,741	5,731
Water Treatment [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue, Net	23,187	22,418	80,816	80,312
Gross profit	6,199	5,499	23,496	22,637
Selling, General and Administrative Expense	3,368	2,886	10,316	9,038
Operating income	$2,831	$2,613	$13,180	$13,599

Segment_Information_Details_Te

Segment Information (Details Textual) (USD $)	9 Months Ended		12 Months Ended
In Millions, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012	Mar. 31, 2013	Jul. 01, 2012
	Customer
	Segment
Segment Reporting [Abstract]	'	'	'	'
Multiemployer Pension Plan Withdrawal Pre Tax Charge	'	'	$7.20	'
Number of reportable segments (segments)	2	'	'	'
Intersegment sales	0	'	'	'
Number of operating segments aggregated (segments)	0	'	'	'
Number of customer representing 10 percent or more of revenue (customers)	0	'	'	'
Pretax settlement obligation	'	'	'	3.2
Cumulative impact of pre-tax charges	'	$10.40	'	'