Hawkins (HWKN) 10-Q 6 Feb 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 29, 2019	Jan. 31, 2020
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 29, 2019
Document Transition Report	false
Entity File Number	0-7647
Entity Registrant Name	HAWKINS, INC.
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-0771293
Entity Address, Address Line One	2381 Rosegate
Entity Address, City or Town	Roseville
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55113
City Area Code	612
Local Phone Number	331-6910
Title of 12(b) Security	Common Stock, par value $.05 per share
Trading Symbol	HWKN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,648,940
Entity Central Index Key	0000046250
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--03-29

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Dec. 29, 2019	Mar. 31, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 7,265	$ 9,199
Trade receivables — less allowance for doubtful accounts: $677 as of December 29, 2019 and $620 as of March 31, 2019	56,046	63,966
Inventories	57,542	60,482
Income taxes receivable	609	527
Prepaid expenses and other current assets	5,587	5,235
Total current assets	127,049	139,409
PROPERTY, PLANT, AND EQUIPMENT:
PROPERTY, PLANT, AND EQUIPMENT:	262,194	244,861
Less accumulated depreciation	136,832	126,233
Net property, plant, and equipment	125,362	118,628
OTHER ASSETS:
Right-of-use assets	9,495	0
Goodwill	58,440	58,440
Intangible assets, net	61,921	65,726
Other	4,312	3,396
Total other assets	134,168	127,562
Total assets	386,579	385,599
CURRENT LIABILITIES:
Accounts payable — trade	26,744	29,314
Accrued payroll and employee benefits	10,133	12,483
Current portion of long-term debt	9,907	9,907
Short-term lease liability	1,571	0
Container deposits	1,358	1,299
Other current liabilities	1,568	2,393
Total current liabilities	51,281	55,396
LONG-TERM DEBT, LESS CURRENT PORTION	57,728	74,658
LONG-TERM LEASE LIABILITY	7,972	0
PENSION WITHDRAWAL LIABILITY	5,064	5,316
DEFERRED INCOME TAXES	26,577	26,673
OTHER LONG-TERM LIABILITIES	5,746	5,695
Total liabilities	154,368	167,738
COMMITMENTS AND CONTINGENCIES	0	0
SHAREHOLDERS’ EQUITY:
Common stock; authorized: 30,000,000 shares of $0.05 par value; 10,546,453 and 10,592,450 shares issued and outstanding as of December 29, 2019 and March 31, 2019, respectively	527	530
Additional paid-in capital	50,967	52,609
Retained earnings	180,659	164,405
Accumulated other comprehensive income	58	317
Total shareholders’ equity	232,211	217,861
Total liabilities and shareholders’ equity	$ 386,579	$ 385,599

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Dec. 29, 2019	Mar. 31, 2019
Statement of Financial Position [Abstract]
Allowance for Doubtful Accounts Receivable, Current	$ 677	$ 620
Shares authorized	30,000,000	30,000,000
Common stock, par value (usd per share)	$ 0.05	$ 0.05
Common Stock, Shares, Issued	10,546,453	10,592,450
Common Stock, Shares, Outstanding	10,546,453	10,592,450

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 29, 2019	Dec. 30, 2018	Dec. 29, 2019	Dec. 30, 2018
Income Statement [Abstract]
Sales	$ 120,406	$ 128,151	$ 407,785	$ 423,275
Cost of sales	(98,928)	(107,118)	(329,516)	(348,013)
Gross profit	21,478	21,033	78,269	75,262
Selling, general and administrative expenses	(14,702)	(14,312)	(44,355)	(44,232)
Operating income	6,776	6,721	33,914	31,030
Interest expense, net	(584)	(807)	(2,013)	(2,552)
Other income (expense)	131	(316)	274	(240)
Income before income taxes	6,323	5,598	32,175	28,238
Income tax expense	(1,776)	(1,468)	(8,571)	(7,576)
Net income	$ 4,547	$ 4,130	$ 23,604	$ 20,662
Weighted average number of shares outstanding - basic	10,546,453	10,667,001	10,575,432	10,663,807
Weighted average number of shares outstanding - diluted	10,605,895	10,712,027	10,656,115	10,727,377
Basic earnings per share
Basic earnings per share	$ 0.43	$ 0.39	$ 2.23	$ 1.94
Diluted earnings per share
Diluted earnings per share	0.43	0.39	2.22	1.93
Cash dividends declared per common share	$ 0.23	$ 0.225	$ 0.69	$ 0.45

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 29, 2019	Dec. 30, 2018	Dec. 29, 2019	Dec. 30, 2018
Net income	$ 4,547	$ 4,130	$ 23,604	$ 20,662
Other comprehensive income (loss), net of tax:
Unrealized loss on interest rate swap	(11)	(170)	(300)	(200)
Total comprehensive income	$ 4,536	3,960	23,345	20,504
Interest Rate Swap [Member]
Other comprehensive income (loss), net of tax:
Unrealized loss on interest rate swap		$ (170)	$ (259)	$ (158)

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Shareholder's Equity Statement - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]
Shares outstanding, beginning balance at Apr. 01, 2018		10,631,992
Stockholders' equity, beginning balance at Apr. 01, 2018	$ 202,247	$ 532	$ 53,877	$ 147,242	$ 596
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense	470		470
Vesting of restricted stock (shares)		24,567
Vesting of restricted stock	0	$ 1
Vesting of restricted stock			(1)
Shares surrendered for payroll taxes (shares)		8,105
Shares surrendered for payroll taxes	(265)	$ 0	(265)
ESPP shares issued (shares)		22,531
ESPP shares issued	677	$ 1	676
Other comprehensive income, net of tax	27				27
Net income	9,123			9,123
Shares outstanding, ending balance at Jul. 01, 2018		10,670,985
Stockholders' equity, ending balance at Jul. 01, 2018	212,279	$ 534	54,757	156,365	623
Shares outstanding, beginning balance at Apr. 01, 2018		10,631,992
Stockholders' equity, beginning balance at Apr. 01, 2018	202,247	$ 532	53,877	147,242	596
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares surrendered for payroll taxes	$ (265)
Shares repurchased (shares)	(59,788)
Shares repurchased	$ (2,386)
Other comprehensive income, net of tax	(200)
Net income	20,662
Shares outstanding, ending balance at Dec. 30, 2018		10,619,681
Stockholders' equity, ending balance at Dec. 30, 2018	217,530	$ 531	53,478	163,083	438
Shares outstanding, beginning balance at Jul. 01, 2018		10,670,985
Stockholders' equity, beginning balance at Jul. 01, 2018	212,279	$ 534	54,757	156,365	623
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends paid	(2,412)			(2,412)
Share-based compensation expense	513		513
Vesting of restricted stock (shares)		8,484
Vesting of restricted stock	0	$ 0	0
Other comprehensive income, net of tax	(15)				(15)
Net income	7,409			7,409
Shares outstanding, ending balance at Sep. 30, 2018		10,679,469
Stockholders' equity, ending balance at Sep. 30, 2018	217,774	$ 534	55,270	161,362	608
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends paid	(2,409)			(2,409)
Share-based compensation expense	591		591
Shares repurchased (shares)		(59,788)
Shares repurchased	(2,386)	$ (3)	(2,383)
Other comprehensive income, net of tax	(170)				(170)
Net income	4,130			4,130
Shares outstanding, ending balance at Dec. 30, 2018		10,619,681
Stockholders' equity, ending balance at Dec. 30, 2018	217,530	$ 531	53,478	163,083	438
Shares outstanding, beginning balance at Mar. 31, 2019		10,592,450
Stockholders' equity, beginning balance at Mar. 31, 2019	217,861	$ 530	52,609	164,405	317
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends paid	(2,460)			(2,460)
Share-based compensation expense	509		509
Vesting of restricted stock (shares)		27,620
Vesting of restricted stock	0	$ 1
Vesting of restricted stock			(1)
Shares surrendered for payroll taxes (shares)		(9,160)
Shares surrendered for payroll taxes	(343)	$ (1)	(342)
Shares repurchased (shares)		(47,136)
Shares repurchased	(1,803)	$ (2)	(1,801)
Other comprehensive income, net of tax	(179)				(179)
Net income	9,807			9,807
Shares outstanding, ending balance at Jun. 30, 2019		10,563,774
Stockholders' equity, ending balance at Jun. 30, 2019	223,392	$ 528	50,974	171,752	138
Shares outstanding, beginning balance at Mar. 31, 2019		10,592,450
Stockholders' equity, beginning balance at Mar. 31, 2019	217,861	$ 530	52,609	164,405	317
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares surrendered for payroll taxes	$ (343)
Shares repurchased (shares)	(91,395)
Shares repurchased	$ (3,793)
Other comprehensive income, net of tax	(300)
Net income	23,604
Shares outstanding, ending balance at Dec. 29, 2019		10,546,453
Stockholders' equity, ending balance at Dec. 29, 2019	232,211	$ 527	50,967	180,659	58
Shares outstanding, beginning balance at Jun. 30, 2019		10,563,774
Stockholders' equity, beginning balance at Jun. 30, 2019	223,392	$ 528	50,974	171,752	138
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends paid	(2,445)			(2,445)
Share-based compensation expense	636		636
Vesting of restricted stock (shares)		8,352
Vesting of restricted stock	0	$ 0	0
ESPP shares issued (shares)		18,586
ESPP shares issued	661	$ 1	660
Shares repurchased (shares)		(44,259)
Shares repurchased	(1,990)	$ (2)	(1,988)
Other comprehensive income, net of tax	(69)				(69)
Net income	9,250			9,250
Shares outstanding, ending balance at Sep. 29, 2019		10,546,453
Stockholders' equity, ending balance at Sep. 29, 2019	229,435	$ 527	50,282	178,557	69
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends paid	(2,445)			(2,445)
Share-based compensation expense	$ 685		685
Shares repurchased (shares)	0
Other comprehensive income, net of tax	$ (11)				(11)
Net income	4,547			4,547
Shares outstanding, ending balance at Dec. 29, 2019		10,546,453
Stockholders' equity, ending balance at Dec. 29, 2019	$ 232,211	$ 527	$ 50,967	$ 180,659	$ 58

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Dec. 29, 2019	Dec. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 23,604	$ 20,662
Changes in operating accounts providing (using) cash:
Depreciation and amortization	16,181	16,398
Operating leases	1,538	0
Amortization of debt issuance costs	70	98
(Gain) loss on deferred compensation assets	(274)	240
Deferred income taxes	0	82
Stock compensation expense	1,830	1,574
(Gain) loss from property disposals	(112)	54
Trade receivables	(8,035)	(2,048)
Inventories	2,940	(7,936)
Accounts payable	(2,469)	(4,013)
Accrued liabilities	(3,148)	1,261
Operating Lease, Payments	(1,565)	0
Income taxes	(82)	2,558
Other	1,557	1,832
Net cash provided by operating activities	44,991	31,030
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant, and equipment	(19,426)	(7,205)
Other	326	167
Net cash used in investing activities	(19,100)	(7,038)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends paid	(7,350)	(9,525)
New shares issued	661	677
Shares surrendered for payroll taxes	(343)	(265)
Shares repurchased	(3,793)	(2,386)
Net payments on revolver borrowings	(17,000)	75,000
Payments on term loan borrowings	0	(85,000)
Payments for debt issuance costs	0	183
Net cash used in financing activities	(27,825)	(21,682)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	9,199	4,990
CASH AND CASH EQUIVALENTS, END OF PERIOD	7,265	7,300
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for income taxes	8,653	5,100
Cash paid for interest	1,960	2,238
Noncash investing activities - capital expenditures in accounts payable	394	326
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	$ (1,934)	$ 2,310

Accounting Policies

Accounting Policies	9 Months Ended
	Dec. 29, 2019
Accounting Policies [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	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 March 31, 2019 , 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 results of operations for the nine months ended December 29, 2019 are not necessarily indicative of the results that may be expected for the full year. References to fiscal 2018 refer to the fiscal year ended April 1, 2018, references to fiscal 2019 refer to the fiscal year ended March 31, 2019 and references to fiscal 2020 refer to the fiscal year ending March 29, 2020. Use of Estimates. The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, particularly receivables, inventories, property, plant and equipment, right-of-use assets, goodwill, intangibles, accrued expenses, short-term and long-term lease liability, income taxes and related accounts and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Accounting Policies. 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 March 31, 2019 , previously filed with the SEC. With the exception of our accounting policy regarding leases (see below), there has been no significant change in our accounting policies since the end of fiscal 2019. Leases. The Company determines if an arrangement is a lease at inception. Right-of-use (“ROU”) assets include operating leases. Lease liabilities for operating leases are classified in “short-term lease liabilities” and “long-term lease liabilities” in our condensed consolidated balance sheet. Operating assets and liabilities are recognized at commencement date based on the present value of the lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. Lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Lease and non-lease components are generally accounted for separately for real estate leases. For non-real estate leases, we account for the lease and non-lease components as a single lease component. Recently Issued Accounting Pronouncements In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments . The amendments in this update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses on instruments within its scope, including trade receivables. This update is intended to provide financial statement users with more decision-useful information about the expected credit losses. This ASU is effective for annual periods and interim periods for those annual periods beginning after December 15, 2019, which for us is our fiscal year beginning March 30, 2020. Entities may early adopt beginning after December 15, 2018. Upon adoption, we expect this ASU to impact our method for calculating and estimating our allowance for doubtful accounts, but do not expect it to have a material impact to our financial position or results of operations. Recently Adopted Accounting Pronouncements On April 1, 2019, we adopted ASU 2016-02, Leases, which provides new accounting guidance requiring lessees to recognize most leases as assets and liabilities on the balance sheet and disclose key information about leasing arrangements. The new standard establishes a ROU model that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and expense recognition in the income statement. We adopted this ASU using the modified retrospective method. See Note 11 to the condensed consolidated financial statements for further details.

Revenue

Revenue	9 Months Ended
	Dec. 30, 2018
Disaggregation of Revenue [Abstract]
Revenue from Contract with Customer	Revenue Our revenue arrangements generally consist of a single performance obligation to transfer promised goods or services. We disaggregate revenues from contracts with customers by operating segments as well as types of products sold. Reporting by operating segment is pertinent to understanding our revenues, as it aligns to how we review the financial performance of our operations. Types of products sold within each operating segment help us to further evaluate the financial performance of our segments. The following tables disaggregate external customer net sales by major revenue stream for the three and nine months ended December 29, 2019 and December 30, 2018: Three months ended December 29, 2019 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 11,615 $ 4,280 $ 19,186 $ 35,081 Manufactured, blended or repackaged products (2) 50,547 30,251 3,218 84,016 Other 856 359 94 1,309 Total external customer sales $ 63,018 $ 34,890 $ 22,498 $ 120,406 Three months ended December 30, 2018 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 15,740 $ 5,195 $ 22,933 $ 43,868 Manufactured, blended or repackaged products (2) 52,130 27,189 3,355 82,674 Other 1,156 356 97 1,609 Total external customer sales $ 69,026 $ 32,740 $ 26,385 $ 128,151 Nine months ended December 29, 2019 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 38,405 $ 13,959 $ 66,681 $ 119,045 Manufactured, blended or repackaged products (2) 165,447 108,888 10,551 284,886 Other 2,581 1,163 110 3,854 Total external customer sales $ 206,433 $ 124,010 $ 77,342 $ 407,785 Nine months ended December 30, 2018 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 45,983 $ 16,999 $ 83,234 $ 146,216 Manufactured, blended or repackaged products (2) 163,366 98,153 11,039 272,558 Other 3,097 1,170 234 4,501 Total external customer sales $ 212,446 $ 116,322 $ 94,507 $ 423,275 (1) For our Industrial and Water Treatment segments, this line includes our bulk products that we do not modify in any way, but receive, store, and ship from our facilities, or direct ship to our customers in large quantities. For our Health and Nutrition segment, this line includes our non-manufactured distributed specialty products, which may be sold out of one of our facilities or direct shipped to our customers. (2) For our Industrial and Water Treatment segments, this line includes our non-bulk specialty products that we either manufacture, blend, repackage, resell in their original form, or direct ship to our customers in smaller quantities, and services we provide for our customers. For our Health and Nutrition segment, this line includes products manufactured, processed or repackaged in our facility and/or with our equipment.

Earnings per Share

Earnings per Share	9 Months Ended
	Dec. 29, 2019
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 dilutive impact of 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, Weighted-average common shares outstanding—basic 10,546,453 10,667,001 10,575,432 10,663,807 Dilutive impact of performance units and restricted stock 59,442 45,026 80,683 63,570 Weighted-average common shares outstanding—diluted 10,605,895 10,712,027 10,656,115 10,727,377 For each of the three and nine months ended December 29, 2019 and December 30, 2018, there were no shares excluded from the calculation of weighted-average common shares for diluted EPS.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Dec. 29, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Derivative Instruments We have 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 $20 million swap agreement will terminate on 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 income (net of tax) until income or loss from the cash flows of the hedged item is realized. For the three months ended December 29, 2019, we recorded a nominal amount in other comprehensive loss related to unrealized losses (net of tax) on the cash flow hedge described above. For the nine months ended December 29, 2019, we recorded $0.3 million in other comprehensive loss related to unrealized losses (net of tax) on the cash flow hedge. For both the three and nine months ended December 30, 2018, we recorded $0.2 million in other comprehensive loss related to unrealized losses (net of tax) on the cash flow hedge. Included in prepaid expenses and other current assets on our condensed consolidated balance sheet was $0.1 million as of December 29, 2019 related to the cash flow hedge. As of March 31, 2019, $0.4 million was included in other long-term assets on our condensed consolidated balance sheet related to the cash flow hedge. 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.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Dec. 29, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]	Fair Value Measurements Our financial assets and liabilities are measured at fair value at 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. Our financial assets that are measured at fair value on a recurring basis are an interest rate swap and assets held in a deferred compensation retirement plan. The interest rate swap is classified as prepaid expenses and other current assets on our balance sheet as of December 29, 2019. The deferred compensation retirement plan assets are classified as other long-term assets on our balance sheet, with the portion of the deferred compensation retirement plan assets expected to be paid within twelve months classified as other current assets. The fair value of the interest rate swap 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 deferred compensation plan assets relate to contributions made to a non-qualified compensation plan on behalf of certain employees who are classified as “highly compensated employees” as determined by IRS guidelines. The assets are part of a rabbi trust and the funds are held in mutual funds. The fair value of the deferred compensation is based on the quoted market prices for the mutual funds at the end of the period. The following tables summarize the balances of assets measured at fair value on a recurring basis as of December 29, 2019 and March 31, 2019. 0 December 29, 2019 (In thousands) Level 1 Level 2 Level 3 Interest rate swap — $ 80 — Deferred compensation plan assets $ 4,138 — — March 31, 2019 (In thousands) Level 1 Level 2 Level 3 Interest rate swap — $ 435 — Deferred compensation plan assets $ 2,637 — —

Assets Held for Sale

Assets Held for Sale	9 Months Ended
	Dec. 29, 2019
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]
Disclosure of Long Lived Assets Held-for-sale [Table Text Block]	Assets Held for SaleIn fiscal 2019, management entered into a plan of action to dispose of an office building in St. Louis, Missouri currently utilized in the administration of our Industrial segment. The amount of office space in this facility is no longer needed due to current staffing levels, and management expects to relocate affected employees to leased space. The building is listed for sale at a price in excess of its current book value, and thus no impairment has been recognized. The $0.9 million net book value of this property is recorded as an asset held for sale within “Prepaid expenses and other current assets” on our balance sheet.

Inventories

Inventories	9 Months Ended
	Dec. 29, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories at December 29, 2019 and March 31, 2019 consisted of the following: December 29, March 31, (In thousands) Inventory (FIFO basis) $ 61,976 $ 65,526 LIFO reserve (4,434) (5,044) Net inventory $ 57,542 $ 60,482 The first in, first out (“FIFO”) value of inventories accounted for under the last in, first out (“LIFO”) method was $43.7 million at December 29, 2019 and $45.2 million at March 31, 2019. The remainder of the inventory was valued and accounted for under the FIFO method. The LIFO reserve decreased $0.3 million during the three months ended December 29, 2019 and decreased $0.5 million during the three months ended December 30, 2018. During the nine months ended December 29, 2019, the LIFO reserve decreased $0.6 million and decreased nominally during the nine months ended December 30, 2018. 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, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The carrying amount of goodwill was $58.4 million as of December 29, 2019 and March 31, 2019, of which $44.9 million was related to our Health and Nutrition segment, $7.0 million was related to our Water Treatment segment, and $6.5 million was related to our Industrial segment. A summary of our intangible assets as of December 29, 2019 and March 31, 2019 is as follows: December 29, 2019 March 31, 2019 (In thousands) Gross Accumulated Net Gross Accumulated Net Finite-life intangible assets Customer relationships $ 78,383 $ (20,277) $ 58,106 $ 78,383 $ (16,910) $ 61,473 Trademarks and trade names 6,045 (3,509) 2,536 6,045 (3,115) 2,930 Other finite-life intangible assets 3,648 (3,596) 52 3,648 (3,552) 96 Total finite-life intangible assets 88,076 (27,382) 60,694 88,076 (23,577) 64,499 Indefinite-life intangible assets 1,227 — 1,227 1,227 — 1,227 Total intangible assets $ 89,303 $ (27,382) $ 61,921 $ 89,303 $ (23,577) $ 65,726

Debt

Debt	9 Months Ended
	Dec. 29, 2019
Debt Disclosure [Abstract]
Debt	Debt Debt at December 29, 2019 and March 31, 2019 consisted of the following: December 29, March 31, (In thousands) Senior secured revolving loan $ 68,000 $ 85,000 Less: unamortized debt issuance costs (365) (435) Total debt, net of debt issuance costs 67,635 84,565 Less: current portion of long-term debt (9,907) (9,907) Total long-term debt $ 57,728 $ 74,658

Income Taxes

Income Taxes	9 Months Ended
	Dec. 29, 2019
Income Tax [Abstract]
Income Tax Disclosure [Text Block]	Income TaxesWe 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 April 3, 2016 are closed to examination by the Internal Revenue Service, and with few exceptions, state and localincome tax jurisdictions. Our effective tax rate for the nine months ended December 29, 2019 was 26.6% and was 26.8% for the nine months ended December 30, 2018. The effective tax rate is impacted by projected levels of annual taxable income, permanent items, and state taxes.

Leases

Leases	9 Months Ended
	Dec. 29, 2019
Leases [Abstract]
Lessee, Operating Leases [Text Block]	Leases Adoption of ASU 2016-02, Leases. On April 1, 2019, we adopted ASU 2016-02 using the modified retrospective method applied to existing leases in place as of April 1, 2019. Leases entered into after April 1, 2019 are presented under the provisions of ASU 2016-02, while prior periods are not adjusted and continue to be reported in accordance with previous accounting guidance. Leases commencing or renewing after the adoption date are evaluated based on the guidance in ASU 2016-02 and may result in more finance leases being recognized even for the renewal of previously classified operating leases. We elected to adopt the ‘package of practical expedients’, which permitted us not to reassess under the new standard our prior conclusions about lease identification, lease classification and initial direct costs. We elected the short-term lease recognition exemption for all leases that qualified. This means, for those leases that qualified, we did not recognize right-of-use assets or lease liabilities, and this included not recognizing right-of-use assets or lease liabilities for existing short-term leases of those assets in transition. We also elected the practical expedient to not separate lease and non-lease components for all leases other than leases of real estate, and this included not separating lease and non-lease components for all leases other than leases of real estate in transition. We adopted ASU 2016-02 using the modified retrospective method, recognizing the cumulative effect of application as an adjustment to the opening balance sheet. The standard had a material impact on our condensed consolidated balance sheet, but did not have a material impact on our condensed consolidated statement of income or cash flows. The most significant impact was the recognition of the ROU asset and lease liabilities for operating leases, both of which were approximately $10.4 million upon adoption. Lease Obligations. As of December 29, 2019, we were obligated under operating lease agreements for certain manufacturing facilities, warehouse space, the land on which some of our facilities sit, vehicles and information technology equipment. Our leases have remaining lease terms of 1 year to 25 years, some of which include options to extend the lease for up to 10 years. As of December 29, 2019, our operating lease components with initial or remaining terms in excess of one year were classified on the condensed consolidated balance sheet within right of use assets, short-term lease liability and long-term lease liability. Expense for leases less than 12 months for the three and nine months ended December 29, 2019 was not material. Total lease expense was $0.7 million for the three months ended December 29, 2019 and $2.2 million for the nine months ended December 29, 2019. Other information related to our operating leases was as follows: December 29, 2019 Lease Term and Discount Rate Weighted average remaining lease term (years) 8.81 Weighted average discount rate 4.0 % Maturities of lease liabilities as of December 29, 2019 were as follows: (In thousands) Operating Leases Remaining fiscal 2020 $ 1,830 Fiscal 2021 1,599 Fiscal 2022 1,511 Fiscal 2023 1,120 Fiscal 2024 1,121 Thereafter 4,397 Total $ 11,578 Less: Interest (2,035) Present value of lease liabilities $ 9,543 As we have not restated prior year information for our adoption of ASC Topic 842, the following represents our future minimum lease payments for operating leases under ASC Topic 840 on March 31, 2019: (In thousands) Operating Leases Fiscal 2020 $ 2,198 Fiscal 2021 1,783 Fiscal 2022 1,407 Fiscal 2023 1,352 Fiscal 2024 1,183 Thereafter 5,473 Total $ 13,396

Share Based Compensation

Share Based Compensation	9 Months Ended
	Dec. 29, 2019
Share-based Payment Arrangement [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 2020 and fiscal 2019. 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 69,632 shares in the aggregate for fiscal 2020. The restricted shares issued, if any, will fully vest approximately 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, 2019: Shares Weighted- Unvested at beginning of period 32,883 $ 43.66 Granted 69,252 34.49 Vested (27,620) 46.01 Unvested at end of period 74,515 $ 34.27 We recorded compensation expense related to performance share units and restricted stock of $0.5 million and $1.3 million for the three and nine months ended December 29, 2019, respectively. We recorded compensation expense related to performance share units and restricted stock of $0.4 million and $1.0 million for the three and nine months ended December 30, 2018, 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 retainers, each director who is not an executive officer receives an annual grant of restricted stock for their service on our Board. 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, 2019, there were 8,008 shares of restricted stock with a grant date fair value of $43.67 outstanding under this program. Compensation expense for both the three months ended December 29, 2019 and December 30, 2018 related to restricted stock awards to the Board was $0.1 million. Compensation expense for both the nine months ended December 29, 2019 and December 30, 2018 related to restricted stock awards to the Board was $0.2 million.

Share Repurchase Program

Share Repurchase Program	9 Months Ended
	Dec. 29, 2019
Investment Company, Capital Share Transactions, Stock Repurchased [Abstract]
Share Repurchase Program	Share Repurchase ProgramOur Board has authorized the repurchase of up to 800,000 shares of our outstanding common stock for cash on the open market or in privately negotiated transactions subject to applicable securities laws and regulations. Upon purchase of the shares, we reduce our common stock for the par value of the shares with the excess applied against additional paid-in capital. During the three months ended December 29, 2019, no shares were repurchased. During the nine months ended December 29, 2019, we repurchased 91,395 shares at an aggregate purchase price of $3.8 million. During the three and nine months ended December 30, 2018, we repurchased 59,788 shares at an aggregate purchase price of $2.4 million. As of December 29, 2019, 412,985 shares remained available to be repurchased under the share repurchase program.

Litigation, Commitments and Con

Litigation, Commitments and Contingencies	9 Months Ended
	Dec. 29, 2019
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
	Dec. 29, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information We have three reportable segments: Industrial, Water Treatment, and Health and Nutrition. The accounting policies of the segments are the same as those described in the summary of significant accounting policies in our fiscal 2019 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. There are no intersegment sales and no operating segments have been aggregated. 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 Health and Nutrition Total Three months ended December 29, 2019: Sales $ 63,018 $ 34,890 $ 22,498 $ 120,406 Gross profit 8,418 8,362 4,698 21,478 Selling, general, and administrative expenses 6,050 4,834 3,818 14,702 Operating income 2,368 3,528 880 6,776 Three months ended December 30, 2018: Sales $ 69,026 $ 32,740 $ 26,385 $ 128,151 Gross profit 8,288 7,643 5,102 21,033 Selling, general, and administrative expenses 5,589 4,582 4,141 14,312 Operating income 2,699 3,061 961 6,721 Nine months ended December 29, 2019: Sales $ 206,433 $ 124,010 $ 77,342 $ 407,785 Gross profit 30,007 33,206 15,056 78,269 Selling, general and administrative expenses 18,041 14,956 11,358 44,355 Operating income 11,966 18,250 3,698 33,914 Nine months ended December 30, 2018: Sales $ 212,446 $ 116,322 $ 94,507 $ 423,275 Gross profit 27,059 30,790 17,413 75,262 Selling, general and administrative expenses 16,866 14,738 12,628 44,232 Operating income 10,193 16,052 4,785 31,030 No significant changes to identifiable assets by segment occurred during the nine months ended December 29, 2019.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Dec. 29, 2019
Disaggregation of Revenue [Abstract]
Disaggregation of Revenue [Table Text Block]	The following tables disaggregate external customer net sales by major revenue stream for the three and nine months ended December 29, 2019 and December 30, 2018: Three months ended December 29, 2019 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 11,615 $ 4,280 $ 19,186 $ 35,081 Manufactured, blended or repackaged products (2) 50,547 30,251 3,218 84,016 Other 856 359 94 1,309 Total external customer sales $ 63,018 $ 34,890 $ 22,498 $ 120,406 Three months ended December 30, 2018 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 15,740 $ 5,195 $ 22,933 $ 43,868 Manufactured, blended or repackaged products (2) 52,130 27,189 3,355 82,674 Other 1,156 356 97 1,609 Total external customer sales $ 69,026 $ 32,740 $ 26,385 $ 128,151 Nine months ended December 29, 2019 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 38,405 $ 13,959 $ 66,681 $ 119,045 Manufactured, blended or repackaged products (2) 165,447 108,888 10,551 284,886 Other 2,581 1,163 110 3,854 Total external customer sales $ 206,433 $ 124,010 $ 77,342 $ 407,785 Nine months ended December 30, 2018 (In thousands) Industrial Water Health and Total Bulk / Distributed specialty products (1) $ 45,983 $ 16,999 $ 83,234 $ 146,216 Manufactured, blended or repackaged products (2) 163,366 98,153 11,039 272,558 Other 3,097 1,170 234 4,501 Total external customer sales $ 212,446 $ 116,322 $ 94,507 $ 423,275 (1) For our Industrial and Water Treatment segments, this line includes our bulk products that we do not modify in any way, but receive, store, and ship from our facilities, or direct ship to our customers in large quantities. For our Health and Nutrition segment, this line includes our non-manufactured distributed specialty products, which may be sold out of one of our facilities or direct shipped to our customers. (2) For our Industrial and Water Treatment segments, this line includes our non-bulk specialty products that we either manufacture, blend, repackage, resell in their original form, or direct ship to our customers in smaller quantities, and services we provide for our customers. For our Health and Nutrition segment, this line includes products manufactured, processed or repackaged in our facility and/or with our equipment.

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Dec. 29, 2019
Earnings Per Share [Abstract]
Summary of basic and diluted EPS	Basic and diluted EPS were calculated using the following: Three Months Ended Nine Months Ended December 29, December 30, December 29, December 30, Weighted-average common shares outstanding—basic 10,546,453 10,667,001 10,575,432 10,663,807 Dilutive impact of performance units and restricted stock 59,442 45,026 80,683 63,570 Weighted-average common shares outstanding—diluted 10,605,895 10,712,027 10,656,115 10,727,377

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Dec. 29, 2019
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]	The following tables summarize the balances of assets measured at fair value on a recurring basis as of December 29, 2019 and March 31, 2019. 0 December 29, 2019 (In thousands) Level 1 Level 2 Level 3 Interest rate swap — $ 80 — Deferred compensation plan assets $ 4,138 — — March 31, 2019 (In thousands) Level 1 Level 2 Level 3 Interest rate swap — $ 435 — Deferred compensation plan assets $ 2,637 — —

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Dec. 29, 2019
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories at December 29, 2019 and March 31, 2019 consisted of the following: December 29, March 31, (In thousands) Inventory (FIFO basis) $ 61,976 $ 65,526 LIFO reserve (4,434) (5,044) Net inventory $ 57,542 $ 60,482

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Dec. 29, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets and goodwill	A summary of our intangible assets as of December 29, 2019 and March 31, 2019 is as follows: December 29, 2019 March 31, 2019 (In thousands) Gross Accumulated Net Gross Accumulated Net Finite-life intangible assets Customer relationships $ 78,383 $ (20,277) $ 58,106 $ 78,383 $ (16,910) $ 61,473 Trademarks and trade names 6,045 (3,509) 2,536 6,045 (3,115) 2,930 Other finite-life intangible assets 3,648 (3,596) 52 3,648 (3,552) 96 Total finite-life intangible assets 88,076 (27,382) 60,694 88,076 (23,577) 64,499 Indefinite-life intangible assets 1,227 — 1,227 1,227 — 1,227 Total intangible assets $ 89,303 $ (27,382) $ 61,921 $ 89,303 $ (23,577) $ 65,726

Debt (Tables)

Debt (Tables)	9 Months Ended
	Dec. 29, 2019
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Debt at December 29, 2019 and March 31, 2019 consisted of the following: December 29, March 31, (In thousands) Senior secured revolving loan $ 68,000 $ 85,000 Less: unamortized debt issuance costs (365) (435) Total debt, net of debt issuance costs 67,635 84,565 Less: current portion of long-term debt (9,907) (9,907) Total long-term debt $ 57,728 $ 74,658

Leases (Tables)

Leases (Tables)	9 Months Ended
	Dec. 29, 2019
Leases [Abstract]
Other information related to our operating leases [Table Text Block]	Other information related to our operating leases was as follows: December 29, 2019 Lease Term and Discount Rate Weighted average remaining lease term (years) 8.81 Weighted average discount rate 4.0 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Maturities of lease liabilities as of December 29, 2019 were as follows: (In thousands) Operating Leases Remaining fiscal 2020 $ 1,830 Fiscal 2021 1,599 Fiscal 2022 1,511 Fiscal 2023 1,120 Fiscal 2024 1,121 Thereafter 4,397 Total $ 11,578 Less: Interest (2,035) Present value of lease liabilities $ 9,543
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	As we have not restated prior year information for our adoption of ASC Topic 842, the following represents our future minimum lease payments for operating leases under ASC Topic 840 on March 31, 2019: (In thousands) Operating Leases Fiscal 2020 $ 2,198 Fiscal 2021 1,783 Fiscal 2022 1,407 Fiscal 2023 1,352 Fiscal 2024 1,183 Thereafter 5,473 Total $ 13,396

Share Based Compensation (Table

Share Based Compensation (Tables)	9 Months Ended
	Dec. 29, 2019
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, 2019: Shares Weighted- Unvested at beginning of period 32,883 $ 43.66 Granted 69,252 34.49 Vested (27,620) 46.01 Unvested at end of period 74,515 $ 34.27

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Dec. 29, 2019
Segment Reporting [Abstract]
Summary of Segment Information	(In thousands) Industrial Water Health and Nutrition Total Three months ended December 29, 2019: Sales $ 63,018 $ 34,890 $ 22,498 $ 120,406 Gross profit 8,418 8,362 4,698 21,478 Selling, general, and administrative expenses 6,050 4,834 3,818 14,702 Operating income 2,368 3,528 880 6,776 Three months ended December 30, 2018: Sales $ 69,026 $ 32,740 $ 26,385 $ 128,151 Gross profit 8,288 7,643 5,102 21,033 Selling, general, and administrative expenses 5,589 4,582 4,141 14,312 Operating income 2,699 3,061 961 6,721 Nine months ended December 29, 2019: Sales $ 206,433 $ 124,010 $ 77,342 $ 407,785 Gross profit 30,007 33,206 15,056 78,269 Selling, general and administrative expenses 18,041 14,956 11,358 44,355 Operating income 11,966 18,250 3,698 33,914 Nine months ended December 30, 2018: Sales $ 212,446 $ 116,322 $ 94,507 $ 423,275 Gross profit 27,059 30,790 17,413 75,262 Selling, general and administrative expenses 16,866 14,738 12,628 44,232 Operating income 10,193 16,052 4,785 31,030

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 29, 2019	Dec. 30, 2018	Dec. 29, 2019	Dec. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 120,406	$ 128,151	$ 407,785	$ 423,275
Bulk / Distributed specialty products [Member]
Disaggregation of Revenue [Line Items]
Revenue	35,081	43,868	119,045	146,216
Manufactured, blended or repackaged products [Member]
Disaggregation of Revenue [Line Items]
Revenue	84,016	82,674	284,886	272,558
Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,309	1,609	3,854	4,501
Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue	63,018	69,026	206,433	212,446
Industrial [Member] | Bulk / Distributed specialty products [Member]
Disaggregation of Revenue [Line Items]
Revenue	11,615	15,740	38,405	45,983
Industrial [Member] | Manufactured, blended or repackaged products [Member]
Disaggregation of Revenue [Line Items]
Revenue	50,547	52,130	165,447	163,366
Industrial [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	856	1,156	2,581	3,097
Water Treatment [Member]
Disaggregation of Revenue [Line Items]
Revenue	34,890	32,740	124,010	116,322
Water Treatment [Member] | Bulk / Distributed specialty products [Member]
Disaggregation of Revenue [Line Items]
Revenue	4,280	5,195	13,959	16,999
Water Treatment [Member] | Manufactured, blended or repackaged products [Member]
Disaggregation of Revenue [Line Items]
Revenue	30,251	27,189	108,888	98,153
Water Treatment [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	359	356	1,163	1,170
Health and Nutrition [Member]
Disaggregation of Revenue [Line Items]
Revenue	22,498	26,385	77,342	94,507
Health and Nutrition [Member] | Bulk / Distributed specialty products [Member]
Disaggregation of Revenue [Line Items]
Revenue	19,186	22,933	66,681	83,234
Health and Nutrition [Member] | Manufactured, blended or repackaged products [Member]
Disaggregation of Revenue [Line Items]
Revenue	3,218	3,355	10,551	11,039
Health and Nutrition [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 94	$ 97	$ 110	$ 234

Earnings per Share (Details)

Earnings per Share (Details) - shares	3 Months Ended		9 Months Ended
	Dec. 29, 2019	Dec. 30, 2018	Dec. 29, 2019	Dec. 30, 2018
Summary of basic and diluted EPS
Weighted-average common shares outstanding—basic	10,546,453	10,667,001	10,575,432	10,663,807
Dilutive impact of performance units and restricted stock	59,442	45,026	80,683	63,570
Weighted-average common shares outstanding—diluted	10,605,895	10,712,027	10,656,115	10,727,377
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0	0	0

Earnings per Share (Details Tex

Earnings per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Dec. 29, 2019	Dec. 30, 2018	Dec. 29, 2019	Dec. 30, 2018
Earnings Per Share [Abstract]
Shares or stock options excluded from the calculation of diluted EPS	0	0	0	0

Derivative Instruments (Details

Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Dec. 29, 2019	Sep. 29, 2019	Jun. 30, 2019	Dec. 30, 2018	Sep. 30, 2018	Jul. 01, 2018	Dec. 29, 2019	Dec. 30, 2018	Mar. 31, 2019
Derivative [Line Items]
Unrealized loss on interest rate swap	$ (11)	$ (69)	$ (179)	$ (170)	$ (15)	$ 27	$ (300)	$ (200)
Interest Rate Swap [Member]
Derivative [Line Items]
Derivative, Notional Amount	20,000						20,000
Unrealized loss on interest rate swap				$ (170)			(259)	$ (158)
Cash Flow Hedge Derivative Instrument Assets at Fair Value	$ 100						$ 100		$ 400

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 29, 2019	Mar. 31, 2019
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	$ 4,138	$ 2,637
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	0	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	0	0
Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap	100	400
Interest Rate Swap [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap	0	0
Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap	80	435
Interest Rate Swap [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap	$ 0	$ 0

Assets Held for Sale (Details)

Assets Held for Sale (Details) $ in Millions	Dec. 29, 2019USD ($)
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]
Assets Held-for-sale	$ 0.9

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 29, 2019	Mar. 31, 2019
Summary of Inventories
Inventory (FIFO basis)	$ 61,976	$ 65,526
LIFO reserve	(4,434)	(5,044)
Net inventory	57,542	60,482
LIFO Inventory Amount	$ 43,700	$ 45,200

Inventories (Details Textual)

Inventories (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 29, 2019	Dec. 30, 2018	Dec. 29, 2019	Dec. 30, 2018	Mar. 31, 2019
Inventory Disclosure [Abstract]
Finished goods (LIFO basis)	$ 43,700		$ 43,700		$ 45,200
Increase (decrease) in LIFO reserve	$ (300)	$ (500)	$ (600)	$ 0

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	Dec. 29, 2019	Mar. 31, 2019
Goodwill [Line Items]
Goodwill	$ 58,440	$ 58,440
Health and Nutrition [Member]
Goodwill [Line Items]
Goodwill	44,900
Water Treatment [Member]
Goodwill [Line Items]
Goodwill	7,000
Industrial [Member]
Goodwill [Line Items]
Goodwill	$ 6,500

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 29, 2019	Mar. 31, 2019
Summary of Finite-Lived Intangible Assets [Line Items]
Finite-life intangible assets, Gross Carrying Amount	$ 88,076	$ 88,076
Finite-life intangible assets, Accumulated Amortization	(27,382)	(23,577)
Total finite-life intangible assets, Net	60,694	64,499
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	89,303
Total intangible assets, net	61,921	65,726
Customer Relationships [Member]
Summary of Finite-Lived Intangible Assets [Line Items]
Finite-life intangible assets, Gross Carrying Amount	78,383	78,383
Finite-life intangible assets, Accumulated Amortization	(20,277)	(16,910)
Total finite-life intangible assets, Net	58,106	61,473
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	(3,509)	(3,115)
Total finite-life intangible assets, Net	2,536	2,930
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	(3,596)	(3,552)
Total finite-life intangible assets, Net	$ 52	$ 96

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Dec. 29, 2019	Mar. 31, 2019
Debt Disclosure [Abstract]
Senior secured revolving loan	$ 68,000	$ 85,000
Less: unamortized debt issuance costs	(365)	(435)
Total debt, net of debt issuance costs	67,635	84,565
Less: current portion of long-term debt	(9,907)	(9,907)
Total long-term debt	$ 57,728	$ 74,658

Income Taxes (Details)

Income Taxes (Details)	9 Months Ended
	Dec. 29, 2019	Dec. 30, 2018
Income Tax [Abstract]
Effective Income Tax Rate Reconciliation, Percent	(26.60%)	(26.80%)

Leases Balance Sheet (Details)

Leases Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 29, 2019	Apr. 01, 2019	Mar. 31, 2019
Leases [Abstract]
Operating Lease, Right-of-Use Asset	$ 9,495	$ 10,400	$ 0
Operating Lease, Liability	$ 9,543	$ 10,400

Leases (Details)

Leases (Details)	3 Months Ended	9 Months Ended
	Dec. 29, 2019USD ($)	Dec. 29, 2019USD ($)
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Option to Extend		10 years
Short-term Lease, Expense	$ 0
Operating Lease, Expense	$ 700,000	$ 2,200,000
Operating Lease, Weighted Average Remaining Lease Term	8 years 9 months 21 days	8 years 9 months 21 days
Operating Lease, Weighted Average Discount Rate, Percent	4.00%	4.00%
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Renewal Term	1 year	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Renewal Term	25 years	25 years

Leases maturities (Details)

Leases maturities (Details) - USD ($) $ in Thousands	Dec. 29, 2019	Apr. 01, 2019	Mar. 31, 2019
Leases [Abstract]
Remaining fiscal 2020	$ 1,830
Fiscal 2021	1,599
Fiscal 2022	1,511
Fiscal 2023	1,120
Fiscal 2024	1,121
Thereafter	4,397
Total	11,578
Less: Interest	(2,035)
Present value of lease liabilities	$ 9,543	$ 10,400
Fiscal 2020			$ 2,198
Fiscal 2021			1,783
Fiscal 2022			1,407
Fiscal 2023			1,352
Fiscal 2024			1,183
Thereafter			5,473
Total			$ 13,396

Share Based Compensation (Detai

Share Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Dec. 29, 2019	Dec. 30, 2018	Dec. 29, 2019	Dec. 30, 2018
Performance-Based Restricted Stock [Member]
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)			$ 43.66
Granted, Weighted average grant date fair value (usd per share)			34.49
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value			46.01
Ending Balance, Weighted average grant date fair value (usd per share)	$ 34.27		$ 34.27
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)			32,883
Granted (Shares)			69,252
Vested (Shares)			(27,620)
Unvested at end of period (Shares)	74,515		74,515
Allocated Share-based Compensation Expense	$ 0.5	$ 0.4	$ 1.3	$ 1
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Allocated Share-based Compensation Expense	$ 0.1	$ 0.1	$ 0.2	$ 0.2

Share Based Compensation (Det_2

Share Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Dec. 29, 2019	Dec. 30, 2018	Dec. 29, 2019	Dec. 30, 2018
Performance-Based Restricted Stock [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)			69,632
Vesting period			2 years
Compensation expense	$ 0.5	$ 0.4	$ 1.3	$ 1
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year
Compensation expense	$ 0.1	$ 0.1	$ 0.2	$ 0.2
Restricted stock awards outstanding (shares)	8,008		8,008
Restricted stock awards, weighted average exercise price (usd per share)	$ 43.67		$ 43.67

Share Repurchase Program (Detai

Share Repurchase Program (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 29, 2019	Dec. 29, 2019	Dec. 30, 2018
Investment Company, Capital Share Transactions, Stock Repurchased [Abstract]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	800,000	800,000
Stock Repurchased During Period, Shares	0	91,395	59,788
Stock Repurchased During Period, Value		$ 3.8	$ 2.4
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	412,985	412,985

Litigation, Commitments and C_2

Litigation, Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Jul. 01, 2018	Dec. 29, 2019	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Environmental Remediation Expense	$ 0.6
Accrual for Environmental Loss Contingencies		$ 0.1	$ 0.4

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 29, 2019	Dec. 30, 2018	Dec. 29, 2019	Dec. 30, 2018
Segment Reporting Information [Line Items]
Sales	$ 120,406	$ 128,151	$ 407,785	$ 423,275
Gross profit	21,478	21,033	78,269	75,262
Selling, general, and administrative expenses	14,702	14,312	44,355	44,232
Operating income	6,776	6,721	33,914	31,030
Industrial [Member]
Segment Reporting Information [Line Items]
Sales	63,018	69,026	206,433	212,446
Gross profit	8,418	8,288	30,007	27,059
Selling, general, and administrative expenses	6,050	5,589	18,041	16,866
Operating income	2,368	2,699	11,966	10,193
Water Treatment [Member]
Segment Reporting Information [Line Items]
Sales	34,890	32,740	124,010	116,322
Gross profit	8,362	7,643	33,206	30,790
Selling, general, and administrative expenses	4,834	4,582	14,956	14,738
Operating income	3,528	3,061	18,250	16,052
Health and Nutrition [Member]
Segment Reporting Information [Line Items]
Sales	22,498	26,385	77,342	94,507
Gross profit	4,698	5,102	15,056	17,413
Selling, general, and administrative expenses	3,818	4,141	11,358	12,628
Operating income	$ 880	$ 961	$ 3,698	$ 4,785

Segment Information (Details Te

Segment Information (Details Textual)	9 Months Ended
	Dec. 29, 2019Segment
Segment Reporting Information [Line Items]
Number of reportable segments (segments)	3
Intersegment sales	no
Number of operating segments aggregated (segments)	0
Number of customer representing 10 percent or more of revenue (customers)	No
Quarterly Financial Information, Segment Reporting, Segment Assets, Material Change	No