Hawkins (HWKN) 10-Q 9 Feb 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jan. 01, 2017	Feb. 03, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	HAWKINS INC
Entity Central Index Key	46,250
Document Type	10-Q
Document Period End Date	Jan. 1, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--04-02
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		10,632,556

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jan. 01, 2017	Apr. 03, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 8,381	$ 20,014
Trade receivables — less allowance for doubtful accounts: $468 as of January 1, 2017 and $602 as of April 3, 2016	52,282	59,271
Inventories	50,256	47,719
Income taxes receivable	994	6,062
Prepaid expenses and other current assets	5,084	4,222
Total current assets	116,997	137,288
PROPERTY, PLANT, AND EQUIPMENT:
PROPERTY, PLANT, AND EQUIPMENT:	218,248	204,848
Less accumulated depreciation	98,016	88,527
Net property, plant, and equipment	120,232	116,321
OTHER ASSETS:
Goodwill	97,556	97,724
Intangible assets — less accumulated amortization: $10,933 as of January 1, 2017 and $6,370 as of April 3, 2016	78,370	82,934
Other	1,586	2,224
Total other assets	177,512	182,882
Total assets	414,741	436,491
CURRENT LIABILITIES:
Accounts payable — trade	21,857	30,121
Dividends payable	0	4,226
Accrued payroll and employee benefits	9,083	8,787
Income tax payable	0	0
Current portion of long-term debt	7,364	5,489
Due to sellers of acquired business	341	6,829
Container deposits	1,160	1,081
Other current liabilities	2,093	3,232
Total current liabilities	41,898	59,765
LONG-TERM DEBT, LESS CURRENT PORTION	105,092	123,616
PENSION WITHDRAWAL LIABILITY	6,047	6,282
DEFERRED INCOME TAXES	42,717	42,242
OTHER LONG-TERM LIABILITIES	1,644	3,611
Total liabilities	197,398	235,516
COMMITMENTS AND CONTINGENCIES	0	0
SHAREHOLDERS’ EQUITY:
Common stock; authorized: 30,000,000 shares of $0.05 par value; 10,538,328 and 10,512,471 shares issued and outstanding as of January 1, 2017 and April 3, 2016, respectively	527	526
Additional paid-in capital	50,391	48,189
Retained earnings	166,153	152,265
Accumulated other comprehensive income (loss)	272	(5)
Total shareholders’ equity	217,343	200,975
Total liabilities and shareholders’ equity	$ 414,741	$ 436,491

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Jan. 01, 2017	Apr. 03, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts, trade receivables	$ 468	$ 602
Finite-Lived Intangible Assets, Accumulated Amortization	$ 10,933	$ 6,370
Shares authorized	30,000,000	30,000,000
Common stock, par value (usd per share)	$ 0.05	$ 0.05
Common Stock, Shares, Issued	10,538,328	10,512,471
Common Stock, Shares, Outstanding	10,538,328	10,512,471

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 01, 2017	Dec. 27, 2015	Jan. 01, 2017	Dec. 27, 2015
Income Statement [Abstract]
Sales	$ 112,351	$ 88,375	$ 364,975	$ 284,463
Cost of sales	(91,439)	(73,666)	(288,815)	(229,208)
Gross profit	20,912	14,709	76,160	55,255
Selling, general and administrative expenses	(14,916)	(12,825)	(44,913)	(33,019)
Operating income	5,996	1,884	31,247	22,236
Interest (expense) income, net	(634)	(27)	(1,977)	(21)
Income before income taxes	5,362	1,857	29,270	22,215
Income tax provision	(1,811)	(1,042)	(10,925)	(8,931)
Net income	$ 3,551	$ 815	$ 18,345	$ 13,284
Weighted average number of shares outstanding - basic	10,538,328	10,478,266	10,529,259	10,534,933
Weighted average number of shares outstanding - diluted	10,595,140	10,528,126	10,592,550	10,591,543
Basic earnings per share
Basic earnings per share	$ 0.34	$ 0.08	$ 1.74	$ 1.26
Diluted earnings per share
Diluted earnings per share	0.34	0.08	1.73	1.25
Cash dividends declared per common share	$ 0	$ 0	$ 0.42	$ 0.40

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 01, 2017	Dec. 27, 2015	Jan. 01, 2017	Dec. 27, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 3,551	$ 815	$ 18,345	$ 13,284
Other comprehensive income (loss), net of tax:
Unrealized gain on available-for-sale investments	0	5	0	26
Derivative Instruments, Gain Recognized in Other Comprehensive Income (Loss), Effective Portion	393		277
Unrealized gain on interest rate swap		0		0
Total comprehensive income	$ 3,944	$ 820	$ 18,622	$ 13,310

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Jan. 01, 2017	Dec. 27, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 18,345	$ 13,284
Reconciliation to cash flows:
Depreciation and amortization	15,453	10,468
Amortization of debt issuance costs	102	0
Loss on disposal of investments	0	(101)
Deferred income taxes	171	(120)
Stock compensation expense	1,650	1,277
Gain from property disposals	(61)	(18)
Changes in operating accounts providing (using) cash:
Trade receivables	7,275	3,793
Inventories	(2,537)	(1,944)
Accounts payable	(7,456)	(2,019)
Accrued liabilities	(1,928)	2,125
Income taxes	848	(2,287)
Other	(869)	(868)
Net cash provided by operating activities	30,993	23,792
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant, and equipment	(15,811)	(17,113)
Purchases of investments	0	(6,092)
Sale and maturities of investments	0	34,710
Acquisitions, net of cash acquired	(2,199)	(150,772)
Other	264	237
Net cash used in investing activities	(17,746)	(139,030)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends paid	(8,683)	(8,257)
New shares issued	553	530
Shares surrendered for payroll taxes	0	(379)
Shares repurchased	0	(4,801)
Payments on senior secured revolving credit facility	(13,000)	0
Payments on senior secured term loan	(3,750)	0
Payments for debt issuance costs	0	(679)
Proceeds from long-term borrowings	0	100,000
Proceeds from revolver borrowings	0	31,000
Net cash (used in) provided by financing activities	(24,880)	117,414
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(11,633)	2,176
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	20,014	18,639
CASH AND CASH EQUIVALENTS, END OF PERIOD	8,381	20,815
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for income taxes	9,976	9,070
Cash paid for interest	1,746	0
Noncash investing activities - capital expenditures in accounts payable	$ 1,076	$ 840

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jan. 01, 2017
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 financial 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 April 3, 2016 , 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 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 April 3, 2016 , previously filed with the SEC. There has been no significant change in our accounting policies since the end of fiscal 2016 . The results of operations for the nine months ended January 1, 2017 are not necessarily indicative of the results that may be expected for the full year. References to fiscal 2016 refer to the fiscal year ended April 3, 2016 and references to fiscal 2017 refer to the fiscal year ending April 2, 2017 . As compared to our normal 52-week fiscal years, fiscal 2016 was a 53-week year, with the extra week recorded in our fourth quarter’s results of operations. Recently Issued Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09 which provides accounting guidance intended to improve the accounting for share-based payment transactions. This guidance outlines new provisions intended to simplify various aspects related to accounting for share-based payments and their presentation in the financial statements and will be effective for years beginning after December 15, 2016 (our fiscal year ending April 1, 2018) and interim periods within those years. We are currently evaluating the impact of this accounting pronouncement on our results of operations and financial position. In March 2016, the FASB issued ASU 2016-02, which provides new accounting guidance requiring lessees to recognize most leases as assets and liabilities on the balance sheet. This guidance will be effective for interim periods beginning after December 15, 2018 (our fiscal year ended March 30, 2020). We are currently evaluating the impact of this accounting pronouncement on our results of operations and financial position. In January 2016, the FASB issued ASU 2016-01, which provides guidance that addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. This guidance will be effective for annual reporting periods beginning after December 15, 2017 (our fiscal year ending March 31, 2019), and interim periods within those annual periods. Early adoption is not permitted. We are currently evaluating the impact of this accounting pronouncement on our results of operations and financial position. In July 2015, the FASB issued ASU 2015-11, which requires companies to change the measurement principal for inventory measured using the first-in, first-out (“FIFO”) or average cost method from the lower of cost or market to the lower of cost and net realizable value. Treatment of inventory valued under the last-in, first-out (“LIFO”) method is unchanged by this guidance. The new guidance will be applied prospectively and will be effective for fiscal years beginning after December 15, 2016 (our fiscal year ending April 1, 2018), and interim periods within those years. We are currently evaluating the impact of this accounting pronouncement on our results of operations and financial position. In May 2014, the FASB issued ASU 2014-09, which provides new accounting requirements for recognition of revenue from contracts with customers. The requirements of the new standard will be effective for annual reporting periods beginning after December 15, 2017 (our fiscal year ending March 31, 2019), and interim periods within those annual periods. We are currently evaluating the impact of this accounting pronouncement on our results of operations and financial position. Recently Adopted Accounting Pronouncements In September 2015, the FASB issued ASU 2015-16, which eliminates the requirement for an acquirer to retrospectively adjust the financial statements for measurement-period adjustments that occur in periods after a business combination is consummated. We adopted this guidance in the first quarter of fiscal 2017.

Earnings per Share

Earnings per Share	9 Months Ended
	Jan. 01, 2017
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 as performance units and restricted stock. Basic and diluted EPS were calculated using the following: Three Months Ended Nine Months Ended January 1, December 27, January 1, December 27, Weighted-average common shares outstanding—basic 10,538,328 10,478,266 10,529,259 10,534,933 Dilutive impact of performance units and restricted stock 56,812 49,860 63,291 56,610 Weighted-average common shares outstanding—diluted 10,595,140 10,528,126 10,592,550 10,591,543 For each of the three and nine months ended January 1, 2017 and December 27, 2015 , there were no shares excluded from the calculation of weighted-average common shares for diluted EPS.

Business Combinations

Business Combinations	9 Months Ended
	Jan. 01, 2017
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Business Combinations Acquisition of Stauber Performance Ingredients: On December 23, 2015, we acquired Stauber Performance Ingredients (“Stauber”) for $157.0 million on a cash-free, debt-free basis subject to a customary working capital adjustment. The total consideration for the acquisition was $158.2 million ( $156.7 million net of cash acquired). We paid $156.0 million in cash at closing and paid an additional $2.2 million during the first quarter of fiscal 2017 based upon closing cash, debt and working capital balances. The purchase was funded with $131.0 million of proceeds from the credit facility described more fully in Note 8 as well as cash on hand. Stauber operates out of facilities in New York and California and blends and distributes specialty products and ingredients to the nutritional, food, pharmaceutical, cosmetic and pet care industries. The acquisition expanded our portfolio of value-added specialty products within new markets. Stauber had revenues of approximately $118.0 million for the twelve months ended December 23, 2015, the date of the acquisition. The results of operations since the acquisition date, and the assets, including the goodwill associated with the acquisition, are included in our recently-formed Health and Nutrition operating segment. The acquisition was accounted for under the acquisition method of accounting. Accordingly, the cost to acquire Stauber was allocated to the underlying net assets in proportion to estimates of their respective fair values. The fair value of acquired property, plant and equipment of $11.0 million was valued using a cost approach with consideration given to the continuation of the property in the current operation at the present locations. The fair value of acquired identifiable intangible assets was $71.5 million . The acquired intangible assets, all of which are finite-lived, have a weighted average useful life of 16.3 years and are being amortized on a straight-line basis. The intangible assets include customer relationships of $66.0 million ( 17 year life), trade name of $4.0 million ( 10 year life), non-competition agreements of $1.3 million ( 3.3 year weighted average life) and order backlog of $0.1 million . The fair value of acquired identifiable intangible assets was determined using the income approach. In performing these valuations, the key underlying probability-adjusted assumptions of the discounted cash flows were projected revenues, gross margin expectations and operating cost estimates. The valuations were based on the information that was available as of the acquisition date and expectations and assumptions that have been deemed reasonable by management. There are inherent uncertainties and management judgment required in these determinations. The fair value measurements of the assets acquired were based on valuations involving significant unobservable inputs, or Level 3 in the fair value hierarchy. None of the intangible assets are deductible for income tax purposes. As a result, a $28.6 million deferred tax liability was recorded on the opening balance sheet for the amount of non-deductible amortization expense. The purchase price of Stauber exceeded the acquisition-date amounts of the identifiable assets acquired less the liabilities assumed by $84.1 million . Cash flows used to determine the purchase price included strategic and synergistic benefits (investment value) specific to our businesses, which resulted in a purchase price in excess of the fair value of identifiable net assets. The purchase price also included the fair values of other assets that were not identifiable, not separately recognizable under accounting rules (e.g., assembled workforce) or of immaterial value in addition to a going-concern element that represents our ability to earn a higher rate of return on the group of assets than would be expected on the separate assets as determined during the valuation process. None of the goodwill is deductible for income tax purposes. The following table summarizes the fair value measurement of the assets acquired and liabilities assumed as of the acquisition date: (In thousands) Amount Cash and cash equivalents (a) $ 1,502 Trade receivables 16,023 Inventories 10,207 Other assets 900 Property, plant, and equipment 10,989 Intangible assets 71,459 Accounts payable (5,398 ) Accrued expenses and other current liabilities (a) (2,925 ) Deferred income taxes (28,565 ) Other non-current liabilities (79 ) Net assets acquired 74,113 Goodwill 84,063 Total preliminary purchase price 158,176 Less acquired cash (1,502 ) Preliminary purchase price, net of cash acquired $ 156,674 (a) In addition to these balances, $7.3 million of cash and current accrued liabilities that relate to stock and other acquisition-related compensation payments were recorded by Stauber as of the acquisition date but were paid subsequent to the acquisition date. The following pro forma information has been prepared as if the Stauber acquisition and the borrowing to finance the acquisition had occurred as of the beginning of fiscal 2016. The pro forma information is not necessarily indicative of what our consolidated results of operations actually would have been had the acquisition occurred at the beginning of the fiscal year, nor is it indicative of our future operational results. There is no pro forma information presented for the three and nine months ended January 1, 2017 as Stauber’s results are included in those periods. Three Months Ended December 27, 2015 (In thousands, except per share data) As Reported Pro Forma Stauber Adjustments Combined Pro Forma Results Pro forma net sales $ 88,375 $ 25,989 $ 114,364 Pro forma net income $ 815 $ 2,406 $ 3,221 Pro forma basic earnings per share $ 0.08 $ 0.23 $ 0.31 Pro forma diluted earnings per share $ 0.08 $ 0.23 $ 0.31 Nine Months Ended December 27, 2015 (In thousands, except per share data) As Reported Pro Forma Stauber Adjustments Combined Pro Forma Results Pro forma net sales $ 284,463 $ 87,691 $ 372,154 Pro forma net income $ 13,284 $ 4,041 $ 17,325 Pro forma basic earnings per share $ 1.26 $ 0.38 $ 1.64 Pro forma diluted earnings per share $ 1.25 $ 0.38 $ 1.63 Included in pro forma net income for the nine months ended December 27, 2015 was a $0.9 million pre-tax non-operating gain recorded by Stauber, or $0.05 per fully diluted share, after tax. The unaudited pro forma financial information above is adjusted to reflect the following: (a) interest expense, including amortization of debt issuance costs, related to the $131.0 million of debt used to fund the acquisition; (b) amortization expense related to the $71.5 million of identifiable intangible assets recognized in conjunction with the acquisition; (c) elimination of amortization of intangibles and interest expense previously reflected on Stauber’s financial statements; (d) elimination of stock and other acquisition-related compensation recorded by Stauber, and $2.7 million of pre-tax transaction-related expenses recorded by us; and (e) recording income taxes at an estimated statutory rate of 37.5% on the pro forma adjustments. Acquisition of Davis Supply, Inc. : On September 18, 2015, we acquired substantially all of the assets of Davis Supply, Inc. (“Davis”) under the terms of an asset purchase agreement with Davis and its shareholders. We paid $4.5 million cash at closing, using available cash on hand to fund the acquisition. Davis was a water treatment chemical distribution company operating in Florida with revenues of approximately $5.0 million in calendar year 2014. We integrated this business into our existing Florida locations. The results of operations after the date of acquisition and the acquired assets are included in our Water Treatment Segment. The acquisition has been accounted for under the acquisition method of accounting, under which the total purchase price is allocated to the net tangible and intangible assets acquired based on their estimated fair values. We estimated the fair values of the assets acquired and liabilities assumed using a discounted cash flow analysis (income approach). The following table summarizes the allocation of the purchase price to the fair values assigned to the assets acquired and liabilities assumed as of the acquisition date: (In thousands) Amount Inventories $ 145 Property, plant, and equipment 78 Intangible assets 2,532 Net assets acquired 2,755 Goodwill 1,745 Total purchase price $ 4,500 Intangible assets recognized in connection with this acquisition consist of $2.4 million related to customer relationships to be amortized over 20 years , and $0.1 million related to a non-compete agreement to be amortized over five years . The goodwill recognized as a result of this acquisition is primarily attributable to strategic and synergistic benefits, as well as the assembled workforce. This goodwill is expected to be deductible for tax purposes.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Jan. 01, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Note 4 – Derivative Instruments On September 20, 2016, we entered into an interest rate swap agreement to manage the risk associated with a portion of our variable-rate long-term debt. We do not utilize derivative instruments for speculative purposes. The interest rate swap involves the exchange of fixed-rate and variable-rate payments without the exchange of the underlying notional amount on which the interest payments are calculated. The new swap agreement will begin September 1, 2017 and will terminate concurrently with the expiration of our credit facility on December 23, 2020. The notional amount of the swap agreement is $40 million from September 1, 2017 through August 31, 2018, $30 million from September 1, 2018 through August 31, 2019 and $20 million from September 1, 2019 through December 23, 2020. We have designated this swap as a cash flow hedge and have determined that it qualifies for hedge accounting treatment. For so long as the hedge is effective, changes in fair value of the cash flow hedge are recorded in other comprehensive loss (net of tax) until income or loss from the cash flows of the hedged item is realized. As of January 1, 2017 , we recorded $0.3 million in other comprehensive income related to unrealized gains (net of tax) on the cash flow hedge. An asset of $0.5 million is included in other long-term assets on our condensed consolidated balance sheet as of January 1, 2017 . No amounts were reflected in other comprehensive income related to cash flow hedges for the three or nine months ended December 27, 2015 or on the condensed consolidated balance sheet as of December 27, 2015 as we did not hold any derivative instruments at that time. Unrealized gains and losses will be reflected in net income when the related cash flows or hedged transactions occur and offset the related performance of the hedged item. By their nature, derivative instruments are subject to market risk. Derivative instruments are also subject to credit risk associated with counterparties to the derivative contracts. Credit risk associated with derivatives is measured based on the replacement cost should the counterparty with a contract in a gain position to us fail to perform under the terms of the contract. We do not anticipate nonperformance by the counterparty.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Jan. 01, 2017
Fair Value Disclosures [Abstract]
Fair Value, Measurement Inputs, Disclosure [Text Block]	Note 5 – Fair Value Measurements Our financial assets and liabilities are measured at fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). We classify the inputs used to measure fair value into the following hierarchy: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Quoted prices in active markets for similar assets or liabilities, or quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable or can be corroborated by observable market data for the asset or liability. Level 3: Unobservable inputs for the asset or liability that are supported by little or no market activity. These fair values are determined using pricing models for which the assumptions utilize management’s estimates or market participant assumptions. Assets and Liabilities Measured at Fair Value on a Recurring Basis. The fair value hierarchy requires the use of observable market data when available. In instances where inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability. The fair value of interest rate swaps is determined by the respective counterparties based on interest rate changes. Interest rate swaps are valued based on observable interest rate yield curves for similar instruments. The following table summarizes the balances of assets measured at fair value on a recurring basis as of January 1, 2017 . There were no assets measured at fair value on a recurring basis as of April 3, 2016. 0 (In thousands) Level 1 Level 2 Level 3 Total Interest rate swap — $ 461 — $ 461

Inventories

Inventories	9 Months Ended
	Jan. 01, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories at January 1, 2017 and April 3, 2016 consisted of the following: January 1, April 3, (In thousands) Inventory (FIFO basis) $ 53,644 $ 51,857 LIFO reserve (3,388 ) (4,138 ) Net inventory $ 50,256 $ 47,719 The FIFO value of inventories accounted for under the LIFO method was $38.3 million at January 1, 2017 and $36.5 million at April 3, 2016 . The remainder of the inventory was valued and accounted for under the FIFO method. The LIFO reserve decreased $0.4 million during the three months ended January 1, 2017 and increased nominally during the three months ended December 27, 2015 . During the nine months ended January 1, 2017 the LIFO reserve decreased $0.8 million and increased nominally for the nine months ended December 27, 2015 . 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
	Jan. 01, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The carrying amount of goodwill was $97.6 million as of January 1, 2017 and $97.7 million as of April 3, 2016 . Goodwill changed slightly during the three months ended January 1, 2017, as purchase accounting related to the Stauber acquisition was finalized. A summary of our intangible assets as of January 1, 2017 and April 3, 2016 is as follows: January 1, 2017 April 3, 2016 (In thousands) Gross Amount Accumulated Amortization Net Gross Amount Accumulated Amortization Net Finite-life intangible assets Customer relationships 78,383 (6,688 ) 71,695 78,384 (3,289 ) 75,095 Trademarks and trade names 6,045 (1,639 ) 4,406 6,045 (1,090 ) 4,955 Other finite-life intangible assets 3,648 (2,606 ) 1,042 3,648 (1,991 ) 1,657 Total finite-life intangible assets 88,076 (10,933 ) 77,143 88,077 (6,370 ) 81,707 Indefinite-life intangible assets 1,227 — 1,227 1,227 — 1,227 Total intangible assets $ 89,303 $ (10,933 ) $ 78,370 $ 89,304 $ (6,370 ) $ 82,934

Debt

Debt	9 Months Ended
	Jan. 01, 2017
Debt Disclosure [Abstract]
Debt	Debt Debt at January 1, 2017 and April 3, 2016 consisted of the following: January 1, April 3, (In thousands) Senior secured term loan $ 95,000 $ 98,750 Senior secured revolver 18,000 31,000 Total debt 113,000 129,750 Less: unamortized debt issuance costs (544 ) (645 ) Less: current portion of long-term debt (7,364 ) (5,489 ) Total long-term debt $ 105,092 $ 123,616

Income Taxes Income Taxes

Income Taxes Income Taxes	9 Months Ended
	Jan. 01, 2017
Income Tax [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes We are subject to U.S. federal income tax as well as income tax of multiple state jurisdictions. The tax years prior to our fiscal year ended March 31, 2013 are closed to examination by the Internal Revenue Service, and with few exceptions, state and local income tax jurisdictions. Our effective tax rate for the nine months ended January 1, 2017 was approximately 37.3% , compared to an effective tax rate of 40.2% for the nine months ended December 27, 2015 . The effective tax rate is impacted by projected levels of annual taxable income, permanent items, and state taxes. The increase in the effective tax rate for the prior year was driven by approximately $0.5 million of income tax expense related to $1.3 million of Stauber acquisition-related expenditures that were not deductible for tax purposes and were recorded as discrete items during the three months ended December 27, 2015. The effective tax rate for the prior year was also increased by income tax expense of $0.2 million related to a preliminary audit finding by a state income tax jurisdiction covering multiple years. Our federal tax return filed for our fiscal year ended March 29, 2015 is currently under examination by the Internal Revenue Service. During fiscal 2016, we recorded a gross unrecognized tax benefit of $1.9 million in other long-term liabilities on our consolidated balance sheet as a result of uncertain income tax positions taken by Stauber on its tax returns for periods prior to our acquisition. The Stauber acquisition agreement provides us with indemnification by the prior owners for any tax liabilities relating to pre-acquisition tax returns. Accordingly, we have also recorded an offsetting, long-term receivable for $1.9 million , and, as such, any change in the unrecognized tax benefit will not impact our effective tax rate in future periods. We expect these uncertain income tax amounts to decrease as the applicable examination periods by the relevant taxing authorities expire. During the nine months ended January 1, 2017 the unrecognized tax benefit and the offsetting receivable were reduced to $0.8 million due to the expiration of the statute of limitations. As of January 1, 2017 and April 3, 2016, the liability for uncertain tax positions and the corresponding receivable included $0.1 million and $0.3 million of interest and penalties, respectively.

Share Based Compensation

Share Based Compensation	9 Months Ended
	Jan. 01, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation Performance-Based Restricted Stock Units . Our Board of Directors (the “Board”) approved a performance-based equity compensation arrangement for our executive officers during the first quarters of each of fiscal 2017 and fiscal 2016 . 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 54,028 shares in the aggregate for fiscal 2017 . 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 January 1, 2017 : Shares Weighted- Average Grant Date Fair Value Unvested at beginning of period 37,309 $ 40.89 Granted 28,853 43.10 Unvested at end of period 66,162 $ 41.85 We recorded compensation expense of $0.4 million and $1.1 million related to performance share units and restricted stock for the three and nine months ended January 1, 2017 , respectively. We recorded compensation expense of $0.3 million and $0.9 million related to performance share units and restricted stock for the three and nine months ended December 27, 2015 , 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 of Director 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 January 1, 2017 , there were 8,092 shares of restricted stock with a weighted averaged grant date fair value of $43.24 outstanding under this program. Compensation expense for each of the three and nine months ended January 1, 2017 and December 27, 2015 related to restricted stock awards to the Board was $0.1 million and $0.2 million , respectively.

Share Repurchase Program

Share Repurchase Program	9 Months Ended
	Jan. 01, 2017
Share Repurchase Program [Abstract]
Share Repurchase Program	Share Repurchase Program In fiscal 2015, our Board authorized a share repurchase program of up to 300,000 shares of our outstanding common shares. Under the program, we are authorized to repurchase shares for cash on the open market or in privately negotiated transactions subject to applicable securities laws and regulations. Upon repurchase of the shares, we reduced our common stock for the par value of the shares with the excess applied against additional paid-in capital. No shares were repurchased during the nine months ended January 1, 2017 . During the first nine months of fiscal 2016, 127,852 shares at an aggregate purchase price of $4.8 million were repurchased. The remaining balance of shares available to be repurchased under the current share repurchase program is 112,546 shares.

Litigation, Commitments and Con

Litigation, Commitments and Contingencies	9 Months Ended
	Jan. 01, 2017
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.

Segment Information

Segment Information	9 Months Ended
	Jan. 01, 2017
Segment Reporting [Abstract]
Segment Information	Segment Information We have three reportable segments: Industrial, Water Treatment, and Health and Nutrition. Our Health and Nutrition segment was established as a result of our acquisition of Stauber near the end of the third quarter of fiscal 2016. The accounting policies of the segments are the same as those described in the summary of significant accounting policies in our fiscal 2016 Annual Report on Form 10-K. We evaluate performance based on profit or loss from operations before income taxes not including nonrecurring gains and losses. Reportable segments are defined primarily by product and type of customer. Segments are responsible for the sales, marketing and development of their products and services. Other than our Health and Nutrition segment, the segments do not have separate accounting, administration, customer service or purchasing functions. We allocate certain corporate expenses to our operating segments, and we began allocating a portion of these costs to the Health and Nutrition segment in fiscal 2017. Corporate costs allocated to Health and Nutrition were $0.5 million for the three months ended January 1, 2017 and $1.5 million for the nine months ended January 1, 2017; these costs would have otherwise been allocated to Industrial (approximately $0.3 million for the three months ended January 1, 2017 and $0.9 million for the nine month period) and Water Treatment (approximately $0.2 million for the three months ended January 1, 2017 and $0.6 million for the nine month period). There are no intersegment sales and no operating segments have been aggregated. Given the nature of our business, 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 Treatment Health and Nutrition Total Three months ended January 1, 2017: Sales $ 57,083 $ 28,098 $ 27,170 $ 112,351 Gross profit 8,371 7,242 5,299 20,912 Selling, general, and administrative expenses 5,467 4,808 4,641 14,916 Operating income 2,904 2,434 658 5,996 Three months ended December 27, 2015: Sales $ 59,326 $ 29,049 $ — $ 88,375 Gross profit 7,474 7,235 — 14,709 Selling, general, and administrative expenses 5,421 4,714 2,690 12,825 Operating income (loss) 2,053 2,521 (2,690 ) 1,884 Nine months ended January 1, 2017: Sales $ 176,717 $ 100,590 $ 87,668 $ 364,975 Gross profit 28,978 28,943 18,239 76,160 Selling, general and administrative expenses 16,254 14,825 13,834 44,913 Operating income 12,724 14,118 4,405 31,247 Nine months ended December 27, 2015: Sales $ 185,260 $ 99,203 $ — $ 284,463 Gross profit 27,372 27,883 — 55,255 Selling, general and administrative expenses 16,061 14,268 2,690 33,019 Operating income (loss) 11,311 13,615 (2,690 ) 22,236 No significant changes to identifiable assets by segment occurred during the nine months ended January 1, 2017 .

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Jan. 01, 2017
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 as performance units and restricted stock. Basic and diluted EPS were calculated using the following: Three Months Ended Nine Months Ended January 1, December 27, January 1, December 27, Weighted-average common shares outstanding—basic 10,538,328 10,478,266 10,529,259 10,534,933 Dilutive impact of performance units and restricted stock 56,812 49,860 63,291 56,610 Weighted-average common shares outstanding—diluted 10,595,140 10,528,126 10,592,550 10,591,543

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Jan. 01, 2017
Stauber Performance Ingredients [Member]
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The following table summarizes the fair value measurement of the assets acquired and liabilities assumed as of the acquisition date: (In thousands) Amount Cash and cash equivalents (a) $ 1,502 Trade receivables 16,023 Inventories 10,207 Other assets 900 Property, plant, and equipment 10,989 Intangible assets 71,459 Accounts payable (5,398 ) Accrued expenses and other current liabilities (a) (2,925 ) Deferred income taxes (28,565 ) Other non-current liabilities (79 ) Net assets acquired 74,113 Goodwill 84,063 Total preliminary purchase price 158,176 Less acquired cash (1,502 ) Preliminary purchase price, net of cash acquired $ 156,674 (a) In addition to these balances, $7.3 million of cash and current accrued liabilities that relate to stock and other acquisition-related compensation payments were recorded by Stauber as of the acquisition date but were paid subsequent to the acquisition date.
Business Acquisition, Pro Forma Information [Table Text Block]	The following pro forma information has been prepared as if the Stauber acquisition and the borrowing to finance the acquisition had occurred as of the beginning of fiscal 2016. The pro forma information is not necessarily indicative of what our consolidated results of operations actually would have been had the acquisition occurred at the beginning of the fiscal year, nor is it indicative of our future operational results. There is no pro forma information presented for the three and nine months ended January 1, 2017 as Stauber’s results are included in those periods. Three Months Ended December 27, 2015 (In thousands, except per share data) As Reported Pro Forma Stauber Adjustments Combined Pro Forma Results Pro forma net sales $ 88,375 $ 25,989 $ 114,364 Pro forma net income $ 815 $ 2,406 $ 3,221 Pro forma basic earnings per share $ 0.08 $ 0.23 $ 0.31 Pro forma diluted earnings per share $ 0.08 $ 0.23 $ 0.31 Nine Months Ended December 27, 2015 (In thousands, except per share data) As Reported Pro Forma Stauber Adjustments Combined Pro Forma Results Pro forma net sales $ 284,463 $ 87,691 $ 372,154 Pro forma net income $ 13,284 $ 4,041 $ 17,325 Pro forma basic earnings per share $ 1.26 $ 0.38 $ 1.64 Pro forma diluted earnings per share $ 1.25 $ 0.38 $ 1.63
Davis Supply Inc. [Member]
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The following table summarizes the allocation of the purchase price to the fair values assigned to the assets acquired and liabilities assumed as of the acquisition date: (In thousands) Amount Inventories $ 145 Property, plant, and equipment 78 Intangible assets 2,532 Net assets acquired 2,755 Goodwill 1,745 Total purchase price $ 4,500

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jan. 01, 2017
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]	The following table summarizes the balances of assets measured at fair value on a recurring basis as of January 1, 2017 . There were no assets measured at fair value on a recurring basis as of April 3, 2016. 0 (In thousands) Level 1 Level 2 Level 3 Total Interest rate swap — $ 461 — $ 461

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Jan. 01, 2017
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories at January 1, 2017 and April 3, 2016 consisted of the following: January 1, April 3, (In thousands) Inventory (FIFO basis) $ 53,644 $ 51,857 LIFO reserve (3,388 ) (4,138 ) Net inventory $ 50,256 $ 47,719

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Jan. 01, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets and goodwill	A summary of our intangible assets as of January 1, 2017 and April 3, 2016 is as follows: January 1, 2017 April 3, 2016 (In thousands) Gross Amount Accumulated Amortization Net Gross Amount Accumulated Amortization Net Finite-life intangible assets Customer relationships 78,383 (6,688 ) 71,695 78,384 (3,289 ) 75,095 Trademarks and trade names 6,045 (1,639 ) 4,406 6,045 (1,090 ) 4,955 Other finite-life intangible assets 3,648 (2,606 ) 1,042 3,648 (1,991 ) 1,657 Total finite-life intangible assets 88,076 (10,933 ) 77,143 88,077 (6,370 ) 81,707 Indefinite-life intangible assets 1,227 — 1,227 1,227 — 1,227 Total intangible assets $ 89,303 $ (10,933 ) $ 78,370 $ 89,304 $ (6,370 ) $ 82,934

Debt (Tables)

Debt (Tables)	9 Months Ended
	Jan. 01, 2017
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Debt at January 1, 2017 and April 3, 2016 consisted of the following: January 1, April 3, (In thousands) Senior secured term loan $ 95,000 $ 98,750 Senior secured revolver 18,000 31,000 Total debt 113,000 129,750 Less: unamortized debt issuance costs (544 ) (645 ) Less: current portion of long-term debt (7,364 ) (5,489 ) Total long-term debt $ 105,092 $ 123,616

Share Based Compensation (Table

Share Based Compensation (Tables)	9 Months Ended
	Jan. 01, 2017
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 January 1, 2017 : Shares Weighted- Average Grant Date Fair Value Unvested at beginning of period 37,309 $ 40.89 Granted 28,853 43.10 Unvested at end of period 66,162 $ 41.85

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Jan. 01, 2017
Segment Reporting [Abstract]
Summary of Segment Information	(In thousands) Industrial Water Treatment Health and Nutrition Total Three months ended January 1, 2017: Sales $ 57,083 $ 28,098 $ 27,170 $ 112,351 Gross profit 8,371 7,242 5,299 20,912 Selling, general, and administrative expenses 5,467 4,808 4,641 14,916 Operating income 2,904 2,434 658 5,996 Three months ended December 27, 2015: Sales $ 59,326 $ 29,049 $ — $ 88,375 Gross profit 7,474 7,235 — 14,709 Selling, general, and administrative expenses 5,421 4,714 2,690 12,825 Operating income (loss) 2,053 2,521 (2,690 ) 1,884 Nine months ended January 1, 2017: Sales $ 176,717 $ 100,590 $ 87,668 $ 364,975 Gross profit 28,978 28,943 18,239 76,160 Selling, general and administrative expenses 16,254 14,825 13,834 44,913 Operating income 12,724 14,118 4,405 31,247 Nine months ended December 27, 2015: Sales $ 185,260 $ 99,203 $ — $ 284,463 Gross profit 27,372 27,883 — 55,255 Selling, general and administrative expenses 16,061 14,268 2,690 33,019 Operating income (loss) 11,311 13,615 (2,690 ) 22,236

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Details)	9 Months Ended	12 Months Ended
	Jan. 01, 2017	Apr. 03, 2016
Basis of Presentation [Abstract]
Fiscal Period Duration	364 days	371 days

Earnings per Share (Details)

Earnings per Share (Details) - shares	3 Months Ended		9 Months Ended
	Jan. 01, 2017	Dec. 27, 2015	Jan. 01, 2017	Dec. 27, 2015
Summary of basic and diluted EPS
Weighted-average common shares outstanding—basic	10,538,328	10,478,266	10,529,259	10,534,933
Dilutive impact of performance units and restricted stock	56,812	49,860	63,291	56,610
Weighted-average common shares outstanding—diluted	10,595,140	10,528,126	10,592,550	10,591,543

Earnings per Share (Details Tex

Earnings per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Jan. 01, 2017	Dec. 27, 2015	Jan. 01, 2017	Dec. 27, 2015
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) - USD ($) $ in Thousands	Dec. 23, 2015	Jan. 01, 2017	Dec. 27, 2015	Apr. 03, 2016	Sep. 18, 2015
Business Acquisition [Line Items]
Goodwill		$ 97,556		$ 97,724
Preliminary purchase price, net of cash acquired		$ 2,199	$ 150,772
Restricted Cash and Cash Equivalents	$ 7,300
Stauber Performance Ingredients [Member]
Business Acquisition [Line Items]
Cash and cash equivalents (a)	1,502
Trade receivables	16,023
Inventories	10,207
Other assets	900
Property, plant, and equipment	10,989
Intangible assets	71,459
Accounts payable	(5,398)
Accrued expenses and other current liabilities (a)	(2,925)
Deferred income taxes	(28,565)
Other non-current liabilities	(79)
Net assets acquired	74,113
Goodwill	84,063
Total preliminary purchase price	158,176
Less acquired cash	(1,502)
Preliminary purchase price, net of cash acquired	$ 156,674
Davis Supply Inc. [Member]
Business Acquisition [Line Items]
Inventories					$ 145
Property, plant, and equipment					78
Intangible assets					2,532
Net assets acquired					2,755
Goodwill					1,745
Total preliminary purchase price					$ 4,500

Business Combinations (Details

Business Combinations (Details Pro-forma) - Stauber Performance Ingredients [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 27, 2015	Dec. 27, 2015
Scenario, Actual [Member]
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma net sales	$ 88,375	$ 284,463
Pro forma net income	$ 815	$ 13,284
Pro forma basic earnings per share	$ 0.08	$ 1.26
Pro forma diluted earnings per share	$ 0.08	$ 1.25
Scenario, Adjustment [Member]
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma net sales	$ 25,989	$ 87,691
Pro forma net income	$ 2,406	$ 4,041
Pro forma basic earnings per share	$ 0.23	$ 0.38
Pro forma diluted earnings per share	$ 0.23	$ 0.38
Pro Forma [Member]
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma net sales	$ 114,364	$ 372,154
Pro forma net income	$ 3,221	$ 17,325
Pro forma basic earnings per share	$ 0.31	$ 1.64
Pro forma diluted earnings per share	$ 0.31	$ 1.63

Business Combinations (Detail33

Business Combinations (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Dec. 23, 2015	Sep. 18, 2015	Jan. 01, 2017	Dec. 27, 2015	Apr. 03, 2016
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired			$ 2,199	$ 150,772
Proceeds from Lines of Credit					$ 131,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent				37.50%
Stauber Performance Ingredients [Member]
Business Acquisition [Line Items]
Business Acquisition, Preliminary purchase price	$ 157,000
Business Combination, Consideration Transferred	158,200
Payments to Acquire Businesses, Net of Cash Acquired	156,674
Payments to Acquire Businesses, Gross	156,000		$ 2,199
Business Acquisition, Revenue Reported by Acquired Entity for Last Annual Period					118,000
Property, plant, and equipment	10,989
Finite-lived Intangible Assets Acquired	$ 71,459
Business Combination, Acquisition Related Costs				$ 2,700
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	16 years 4 months
Deferred income taxes	$ 28,600
Goodwill	84,100
Davis Supply Inc. [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross		$ 4,500
Business Acquisition, Revenue Reported by Acquired Entity for Last Annual Period					$ 5,000
Property, plant, and equipment		78
Customer Relationships [Member] | Stauber Performance Ingredients [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 66,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	17 years
Customer Relationships [Member] | Davis Supply Inc. [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired		$ 2,400
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		20 years
Noncompete Agreements [Member] | Stauber Performance Ingredients [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 1,300
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years 3 months
Noncompete Agreements [Member] | Davis Supply Inc. [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired		$ 100
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		5 years
Order or Production Backlog [Member] | Stauber Performance Ingredients [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 100
Trade Names [Member] | Stauber Performance Ingredients [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 4,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years
Pro Forma [Member] | Stauber Performance Ingredients [Member]
Business Acquisition [Line Items]
Nonoperating Income (Expense)				$ 900
Income (Loss) from Extraordinary Items, before Tax, Per Diluted Share				$ 0.05

Derivative Instruments (Details

Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 27, 2015	Jan. 01, 2017	Dec. 27, 2015
Derivative [Line Items]
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	$ 0		$ 0
Interest Rate Swap [Member]
Derivative [Line Items]
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	0	$ 300	0
Cash Flow Hedge Derivative Instrument Assets at Fair Value	$ 0	500	$ 0
Debt Instrument, Redemption, Period One [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Derivative, Notional Amount		40,000
Debt Instrument, Redemption, Period Two [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Derivative, Notional Amount		30,000
Debt Instrument, Redemption, Period Three [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 20,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Interest Rate Swap [Member] - USD ($)	Jan. 01, 2017	Apr. 03, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	$ 461,000	$ 0
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	461,000
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	$ 0

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jan. 01, 2017	Apr. 03, 2016
Summary of Inventories
Inventory (FIFO basis)	$ 53,644	$ 51,857
LIFO reserve	(3,388)	(4,138)
Net inventory	$ 50,256	$ 47,719

Inventories (Details Textual)

Inventories (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 01, 2017	Dec. 27, 2015	Jan. 01, 2017	Dec. 27, 2015	Apr. 03, 2016
Inventory Disclosure [Abstract]
Finished goods (LIFO basis)	$ 38,300		$ 38,300		$ 36,500
Increase (decrease) in LIFO reserve	$ (400)	$ 0	$ (800)	$ 0

Goodwill and Intangible Asset38

Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	Jan. 01, 2017	Apr. 03, 2016
Summary of Finite-Lived Intangible Assets [Line Items]
Finite-life intangible assets, Gross Carrying Amount	$ 88,076	$ 88,077
Finite-life intangible assets, Accumulated Amortization	(10,933)	(6,370)
Total finite-life intangible assets, Net	77,143	81,707
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
Total Intangible Assets, Gross	89,303	89,304
Total intangible assets, net	78,370	82,934
Customer Relationships [Member]
Summary of Finite-Lived Intangible Assets [Line Items]
Finite-life intangible assets, Gross Carrying Amount	78,383	78,384
Finite-life intangible assets, Accumulated Amortization	(6,688)	(3,289)
Total finite-life intangible assets, Net	71,695	75,095
Trademarks [Member]
Summary of Finite-Lived Intangible Assets [Line Items]
Finite-life intangible assets, Gross Carrying Amount	6,045	6,045
Finite-life intangible assets, Accumulated Amortization	(1,639)	(1,090)
Total finite-life intangible assets, Net	4,406	4,955
Other finite-life intangible assets [Member]
Summary of Finite-Lived Intangible Assets [Line Items]
Finite-life intangible assets, Gross Carrying Amount	3,648	3,648
Finite-life intangible assets, Accumulated Amortization	(2,606)	(1,991)
Total finite-life intangible assets, Net	$ 1,042	$ 1,657

Goodwill and Intangible Asset39

Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	Jan. 01, 2017	Apr. 03, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 97,556	$ 97,724

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Jan. 01, 2017	Apr. 03, 2016
Debt Instrument [Line Items]
Long-term Debt	$ 113,000	$ 129,750
Less: unamortized debt issuance costs	(544)	(645)
Less: current portion of long-term debt	(7,364)	(5,489)
Total long-term debt	105,092	123,616
Term Loan [Member]
Debt Instrument [Line Items]
Long-term Debt	95,000	98,750
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 18,000	$ 31,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 27, 2015	Jan. 01, 2017	Dec. 27, 2015	Apr. 03, 2016
Income Tax [Abstract]
Effective Income Tax Rate Reconciliation, Percent		37.30%	40.20%
Unrecognized Tax Benefits		$ 0.8		$ 1.9
Business Combination, Indemnification Assets, Amount as of Acquisition Date		0.8		1.9
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued		$ 0.1		$ 0.3
Other Tax Expense (Benefit)	$ 0.5
Acquisition Costs, Period Cost	1.3
Income Tax Examination, Estimate of Possible Loss	$ 0.2

Share Based Compensation (Detai

Share Based Compensation (Details) - Performance-Based Restricted Stock [Member]	9 Months Ended
	Jan. 01, 2017$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested at beginning of period (Shares) | shares	37,309
Granted (Shares) | shares	28,853
Unvested at end of period (Shares) | shares	66,162
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) | $ / shares	$ 40.89
Granted, Weighted average grant date fair value (usd per share) | $ / shares	43.10
Ending Balance, Weighted average grant date fair value (usd per share) | $ / shares	$ 41.85

Share Based Compensation (Det43

Share Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Jan. 01, 2017	Dec. 27, 2015	Jan. 01, 2017	Dec. 27, 2015
Performance-Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 0.4	$ 0.3	$ 1.1	$ 0.9
Range of restricted stock to be issued minimum (shares)			0
Range of restricted stock to be issued maximum (shares)			54,028
Vesting period			2 years
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 0.1	$ 0.1	$ 0.2	$ 0.2
Vesting period			1 year
Restricted stock awards outstanding (shares)	8,092		8,092
Restricted stock awards, weighted average exercise price (usd per share)	$ 43.24		$ 43.24

Share Repurchase Program (Detai

Share Repurchase Program (Details) - USD ($) $ in Millions	9 Months Ended
	Jan. 01, 2017	Dec. 27, 2015	Mar. 29, 2015
Share Repurchase Program [Abstract]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased			300,000
Stock Repurchased During Period, Shares	0	127,852
Stock Repurchased During Period, Value		$ 4.8
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	112,546

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 01, 2017	Dec. 27, 2015	Jan. 01, 2017	Dec. 27, 2015
Segment Reporting Information [Line Items]
Sales	$ 112,351	$ 88,375	$ 364,975	$ 284,463
Gross profit	20,912	14,709	76,160	55,255
Selling, general, and administrative expenses	14,916	12,825	44,913	33,019
Operating income	5,996	1,884	31,247	22,236
Industrial [Member]
Segment Reporting Information [Line Items]
Sales	57,083	59,326	176,717	185,260
Gross profit	8,371	7,474	28,978	27,372
Selling, general, and administrative expenses	5,467	5,421	16,254	16,061
Operating income	2,904	2,053	12,724	11,311
Water Treatment [Member]
Segment Reporting Information [Line Items]
Sales	28,098	29,049	100,590	99,203
Gross profit	7,242	7,235	28,943	27,883
Selling, general, and administrative expenses	4,808	4,714	14,825	14,268
Operating income	2,434	2,521	14,118	13,615
Health and Nutrition [Member]
Segment Reporting Information [Line Items]
Sales	27,170	0	87,668	0
Gross profit	5,299	0	18,239	0
Selling, general, and administrative expenses	4,641	2,690	13,834	2,690
Operating income	$ 658	$ (2,690)	$ 4,405	$ (2,690)

Segment Information (Details Te

Segment Information (Details Textual) $ in Thousands	3 Months Ended	9 Months Ended
	Jan. 01, 2017USD ($)	Jan. 01, 2017USD ($)SegmentCustomer
Segment Reporting Information [Line Items]
Number of reportable segments (segments) | Segment		3
Intersegment sales		$ 0
Number of operating segments aggregated (segments) | Segment		0
Number of customer representing 10 percent or more of revenue (customers) | Customer		0
Scenario, Actual [Member] | Health and Nutrition [Member]
Segment Reporting Information [Line Items]
Corporate expenses allocated to segments	$ 500	$ 1,500
Scenario, Plan [Member] | Industrial [Member]
Segment Reporting Information [Line Items]
Corporate expenses allocated to segments	300	900
Scenario, Plan [Member] | Water Treatment [Member]
Segment Reporting Information [Line Items]
Corporate expenses allocated to segments	$ 200	$ 600