Arctic Cat (ACAT) 10-Q 6 Feb 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Dec. 31, 2014	Jan. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Trading Symbol	ACAT
Entity Registrant Name	ARCTIC CAT INC
Entity Central Index Key	719866
Current Fiscal Year End Date	-28
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		12,946,809

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (USD $)	Dec. 31, 2014	Mar. 31, 2014
Current Assets
Cash and cash equivalents	$57,484,000	$22,524,000
Short-term investments	10,008,000	60,008,000
Accounts receivable, less allowances	59,102,000	42,003,000
Inventories	144,577,000	140,652,000
Prepaid expenses	2,284,000	3,815,000
Income taxes receivable		1,323,000
Deferred income taxes	19,128,000	14,971,000
Total current assets	292,583,000	285,296,000
Property and Equipment
Machinery, equipment and tooling	194,072,000	181,028,000
Land, buildings and improvements	30,000,000	29,758,000
Property, Plant and Equipment, Gross, Total	224,072,000	210,786,000
Less accumulated depreciation	165,542,000	154,855,000
Property, Plant and Equipment, Net, Total	58,530,000	55,931,000
Other Assets	900,000	1,067,000
Assets, Total	352,013,000	342,294,000
Current Liabilities
Accounts payable	69,217,000	93,882,000
Accrued expenses	58,276,000	54,659,000
Income taxes payable	9,398,000
Total current liabilities	136,891,000	148,541,000
Deferred Income Taxes	8,926,000	8,710,000
Commitments and Contingencies
Shareholders' Equity
Preferred stock
Common stock, par value $.01; 37,440,000 shares authorized; shares issued and outstanding: 12,946,809 at December 31, 2014 and 12,882,705 at March 31, 2014	129,000	129,000
Additional paid-in-capital	1,785,000
Accumulated other comprehensive loss	-4,322,000	-2,110,000
Retained earnings	208,604,000	187,024,000
Total shareholders' equity	206,196,000	185,043,000
Liabilities and Equity, Total	352,013,000	342,294,000
Preferred Stock - Series B Junior Participating
Shareholders' Equity
Preferred stock

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) (USD $)	Dec. 31, 2014	Mar. 31, 2014
Preferred stock, par value	$1	$1
Preferred stock, shares authorized	2,050,000	2,050,000
Preferred stock, shares issued	0	0
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	37,440,000	37,440,000
Common stock, shares issued	12,946,809	12,882,705
Common stock, shares outstanding	12,946,809	12,882,705
Preferred Stock - Series B Junior Participating
Preferred stock, par value	$1	$1
Preferred stock, shares authorized	450,000	450,000
Preferred stock, shares issued	0	0

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Net sales
Net sales	$193,735,000	$225,790,000	$599,853,000	$585,083,000
Cost of goods sold
Cost of goods sold	158,822,000	185,577,000	479,058,000	454,036,000
Gross profit	34,913,000	40,213,000	120,795,000	131,047,000
Operating expenses
Selling & marketing	11,757,000	9,726,000	30,812,000	28,836,000
Research & development	6,496,000	5,723,000	18,463,000	17,291,000
General & administrative	10,797,000	6,372,000	36,026,000	21,802,000
Total operating expenses	29,050,000	21,821,000	85,301,000	67,929,000
Operating profit	5,863,000	18,392,000	35,494,000	63,118,000
Other income (expense)
Interest income	8,000	6,000	18,000	22,000
Interest expense	-97,000	-96,000	-346,000	-136,000
Total other expense	-89,000	-90,000	-328,000	-114,000
Earnings before income taxes	5,774,000	18,302,000	35,166,000	63,004,000
Income tax expense (benefit)	-1,713,000	6,182,000	8,721,000	22,051,000
Net earnings	7,487,000	12,120,000	26,445,000	40,953,000
Net earnings per share
Basic	$0.58	$0.90	$2.05	$3.07
Diluted	$0.57	$0.89	$2.02	$2.99
Weighted average shares outstanding
Basic	12,941,000	13,420,000	12,920,000	13,338,000
Diluted	13,062,000	13,657,000	13,072,000	13,698,000
Snowmobile & ATV units
Net sales
Net sales	165,453,000	196,295,000	512,813,000	503,285,000
Cost of goods sold
Cost of goods sold	140,158,000	166,994,000	422,923,000	402,650,000
Gross profit	25,295,000	29,301,000	89,890,000	100,635,000
Parts, garments & accessories
Net sales
Net sales	28,282,000	29,495,000	87,040,000	81,798,000
Cost of goods sold
Cost of goods sold	18,664,000	18,583,000	56,135,000	51,386,000
Gross profit	$9,618,000	$10,912,000	$30,905,000	$30,412,000

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net earnings	$7,487,000	$12,120,000	$26,445,000	$40,953,000
Other comprehensive income (loss):
Foreign currency translation adjustments	-1,109,000	545,000	-4,016,000	2,271,000
Unrealized gain (loss) on derivative instruments, net of tax	700,000	303,000	1,804,000	934,000
Comprehensive income	$7,078,000	$12,968,000	$24,233,000	$44,158,000

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net earnings	$26,445,000	$40,953,000
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	12,241,000	12,230,000
Deferred income tax expense	-5,000,000	4,432,000
Stock-based compensation expense	3,341,000	2,193,000
Loss on disposal of fixed assets	51,000	1,000
Changes in operating assets and liabilities:
Trading securities	50,000,000	70,736,000
Accounts receivable, less allowances	-16,086,000	-41,744,000
Inventories	-5,860,000	-39,153,000
Prepaid expenses	1,522,000	278,000
Accounts payable	-24,028,000	-4,825,000
Accrued expenses	3,925,000	-1,461,000
Income taxes	10,915,000	-1,231,000
Net cash provided by operating activities	57,466,000	42,409,000
Cash flows from investing activities:
Purchases of property and equipment	-14,847,000	-13,712,000
Net cash used in investing activities	-14,847,000	-13,712,000
Cash flows from financing activities:
Checks written in excess of bank balances		143,000
Proceeds from issuance of common stock	34,000	18,000
Payments for income taxes on net-settled option exercises	-1,335,000	-7,627,000
Tax benefit from stock options exercises	752,000	7,495,000
Dividends paid	-4,865,000	-4,023,000
Repurchase of common stock	-1,007,000	-4,771,000
Net cash used in financing activities	-6,421,000	-8,765,000
Effect of exchange rate changes on cash and cash equivalents	-1,238,000	534,000
Net increase in cash and cash equivalents	34,960,000	20,466,000
Cash and cash equivalents at beginning of period	22,524,000	35,566,000
Cash and cash equivalents at end of period	57,484,000	56,032,000
Supplemental disclosure of cash payments for:
Income taxes	2,616,000	11,088,000
Interest	$344,000	$127,000

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
BASIS OF PRESENTATION	NOTE A–BASIS OF PRESENTATION
	The accompanying unaudited condensed consolidated financial statements of Arctic Cat Inc. (the “Company”) have been prepared in accordance with Regulation S-X pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although management believes that the disclosures are adequate to make the information presented not misleading.
	In the opinion of management, the unaudited condensed consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the Company’s financial position as of December 31, 2014, results of operations for the three-month and nine-month periods ended December 31, 2014 and 2013 and cash flows for the nine-month periods ended December 31, 2014 and 2013. Results of operations for the interim periods are not necessarily indicative of results for the full year. The condensed consolidated balance sheet as of March 31, 2014 is derived from the audited balance sheet as of that date.
	Preparation of the Company’s condensed consolidated financial statements requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and related revenues and expenses. Actual results could differ from those estimates.

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	NOTE B–STOCK-BASED COMPENSATION
	Stock Option Plans
	The Company has outstanding equity awards under a 2013 Omnibus Stock and Incentive Plan (the “2013 Plan”) and a 2007 Omnibus Stock and Incentive Plan (the “2007 Plan,” and along with the 2013 Plan, the “Plans”), previously approved by the Company’s shareholders. The Plans provide for incentive and non-qualified stock options, restricted stock and restricted stock unit awards and other incentive awards to be granted to directors, officers, other key employees and consultants. The stock options granted generally have a five to ten year life, vest over a period of one to three years, and have an exercise price equal to the fair market value of the stock on the date of grant. The stock options are generally subject to accelerated vesting if there is a change in control, as defined in the plans. The restricted stock awards generally vest over a period of two to three years and do not require cash payments from restricted stock award recipients. At December 31, 2014, the Company had 916,008 shares of common stock available for grant under the plans.
	For the three months ended December 31, 2014 and 2013, the Company recorded stock-based compensation expense for stock options and restricted stock awards of $543,000 and $272,000, respectively, and for the nine months ended December 31, 2014 and 2013, the Company recorded stock-based compensation expense for stock options and restricted stock awards of $3,341,000 and $2,193,000, respectively, which have been included in general and administrative expenses. The Company’s total stock-based compensation related expense reduced both basic and diluted earnings per share by $0.03 and $0.01 for each of the three months ended December 31, 2014 and 2013, respectively, and by $0.19 and $0.10 for both basic and diluted earnings per share for the nine months ended December 31, 2014 and 2013, respectively.
	At December 31, 2014, the Company had $7,756,000 of unrecognized compensation costs related to non-vested stock options and restricted stock awards that are expected to be recognized over a weighted average period of approximately two years.
	The Company accounts for stock option based compensation by estimating the fair value of options granted using a Black-Scholes option valuation model. For stock options issued during the nine months ended December 31, 2014 and 2013, the following assumptions were used to determine fair value:
			Nine Months Ended December 31,
	Assumptions used:		2014				2013
	Expected term (in years)			6 years				5 years
	Expected volatility			49	%			49	%
	Risk free interest rate			0.8	%			0.8	%
	Expected dividend			1	%			1	%
	Fair Value		$	14.9			$	17.71
	Option transactions under the plans during the nine months ended December 31, 2014, are summarized as follows:
			Shares				Weighted				Weighted				Aggregate
							Average				Average				Intrinsic Value
							Exercise Price				Contractual Life
	Outstanding at March 31, 2014			480,837			$	24.95
	Granted			257,890				35.12
	Exercised			(95,345	)			15.23
	Forfeited			(2,104	)			47.52
	Cancelled			(68,936	)			43.28
	Outstanding at December 31, 2014			572,342			$	28.86				8.18 years			$	4,969,000
	Exercisable at December 31, 2014			266,806			$	20.3				6.62 years			$	4,404,000
	The aggregate intrinsic value is based on the difference between the exercise price and the Company’s December 31, 2014 common share market value for in-the-money options.
	The following tables summarize information concerning currently outstanding and exercisable stock options at December 31, 2014:
	Options Outstanding and Exercisable
	Range of Exercise				Number				Weighted Average				Weighted				Number		Weighted
	Prices				Outstanding				Remaining				Average				Exercisable		Average
									Contractual Life				Exercise Price						Exercise Price
	$	6.26				3,800				4.60 years			$	6.26				3,800	$	6.26
		9.57-13.84				54,287				5.25 years				10.79				54,287		10.79
		14.68-21.03				139,421				6.49 years				16.18				139,421		16.18
		21.96-27.69				24,000				8.85 years				24.83				24,000		24.83
		32.93-47.79				350,834				9.29 years				37.22				45,298		43.16
						572,342				8.18 years			$	28.86				266,806	$	20.3
	The expected term of options granted is the safe harbor period. The volatility is based on historic volatilities from the traded shares of the Company over the past two and one-half years. The risk-free interest rate for periods matching the expected life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Expected dividend is based on the historic dividend of the Company. The Company has analyzed the forfeitures of stock and option grants and has used a ten percent forfeiture rate in the expense calculation.
	Restricted Stock
	The 2013 Plan provides for grants of restricted common stock and restricted stock units to executives and key employees of the Company. The restricted common stock and restricted stock units are valued based on the Company’s market value of common stock on the date of grant and the amount of any award is expensed over the requisite service period which approximates two to three years. If grantees are retirement eligible and awards would either fully vest upon retirement or continue to vest after retirement, the full amount of the related expense is recognized upon grant. At December 31, 2014, the Company had 7,300 shares of restricted common stock issued and outstanding and 13,231 unvested restricted stock units outstanding under the 2007 Plan and 17,700 shares of restricted common stock issued and outstanding and 34,219 unvested restricted stock units outstanding under the 2013 Plan and 60,734 unvested restricted stock units outstanding under a Board of Directors authorized executive inducement plan. The shares of restricted common stock awarded have voting rights and participate equally in all dividends and other distributions duly declared by the Company’s Board of Directors.
	Restricted stock and restricted stock unit award activity under the Plans during the nine months ended December 31, 2014 and 2013 is summarized as follows:
			2014								2013
	Restricted Shares		Shares				Weighted				Shares				Weighted
							Average								Average
							Grant Date Fair								Grant Date Fair
							Value								Value
	Non-vested shares at March 31,			16,200			$	43.45				42,820			$	19.33
	Awarded			20,200				33.67				8,000				53.91
	Vested			(8,400	)			33.74				(34,120	)			15.66
	Forfeited			(3,000	)			37.6				(500	)			41.52
	Non-vested shares at December 31,			25,000			$	39.51				16,200			$	43.45
			2014								2013
	Restricted Stock Units		Shares				Weighted				Shares				Weighted
							Average								Average
							Grant Date Fair								Grant Date Fair
							Value								Value
	Non-vested shares at March 31,			40,103			$	35.35				41,607			$	27.35
	Granted			120,973				34.39				17,976				42.99
	Vested			(50,959	)			32.85				(16,931	)			23.92
	Forfeited			(1,933	)			43.81				(1,217	)			27.6
	Non-vested shares at December 31,			108,184			$	35.3				41,435			$	35.53

NET_EARNINGS_PER_SHARE

NET EARNINGS PER SHARE	9 Months Ended
	Dec. 31, 2014
Earnings Per Share [Abstract]
NET EARNINGS PER SHARE	NOTE C–NET EARNINGS PER SHARE
	The Company’s basic net earnings per share is computed by dividing net earnings by the weighted average number of outstanding common shares. The Company’s diluted net earnings per share is computed by dividing net earnings by the weighted average number of outstanding common shares and common share equivalents relating to stock options, when dilutive. Options to purchase 131,738 and 154,725 shares of common stock with a weighted average exercise price of $44.42 and $44.38 outstanding during the three and nine month periods ended December 31, 2014, were excluded from the computation of common share equivalents because they were anti-dilutive as the per share exercise prices exceeded the per share market value. No options outstanding were excluded from the computation of common share equivalents because they were anti-dilutive during the three and nine month periods ended December 31, 2013.
	Weighted average shares outstanding consist of the following for the three and nine months ended December 31, 2014 and 2013:
		Three Months Ended				Nine Months Ended
		December 31,				December 31,
		2014		2013		2014		2013
	Weighted average number of common shares outstanding		12,941,000		13,420,000		12,920,000		13,338,000
	Dilutive effect of option plan		121,000		237,000		152,000		360,000
	Common and potential shares outstanding—diluted		13,062,000		13,657,000		13,072,000		13,698,000

SHORTTERM_INVESTMENTS

SHORT-TERM INVESTMENTS	9 Months Ended
	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
SHORT-TERM INVESTMENTS	NOTE D–SHORT-TERM INVESTMENTS
	Trading securities consisted of $10,008,000 and $60,008,000, invested in various money market funds at December 31, 2014 and March 31, 2014, respectively. All of the trading securities are deemed to be Level 1 investments.

INVENTORIES

INVENTORIES	9 Months Ended
	Dec. 31, 2014
Inventory Disclosure [Abstract]
INVENTORIES	NOTE E–INVENTORIES
	Inventories consist of the following:
		December 31, 2014		March 31, 2014
	Raw materials and sub-assemblies	$	37,059,000	$	52,580,000
	Finished goods		71,048,000		55,327,000
	Parts, garments and accessories		36,470,000		32,745,000
		$	144,577,000	$	140,652,000

LINE_OF_CREDIT

LINE OF CREDIT	9 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
LINE OF CREDIT	NOTE F–LINE OF CREDIT
	The Company entered into a $100,000,000 senior secured revolving credit agreement in November 2013 for documentary and stand-by letters of credit, working capital needs and general corporate purposes, which amended and restated the Company’s prior $60,000,000 senior secured revolving credit agreement. This agreement is scheduled to expire in November 2017. Under the agreement, the Company may borrow up to $100,000,000 during May through November and up to $50,000,000 during all other months of the fiscal year. Borrowings under the line of credit bear interest at the greater of the following rates: the prime rate plus 0.75%, the federal funds rate plus 0.50% or LIBOR for a 30 day interest period plus 1.00%. As of December 31, 2014, the effective rate was 3.5%. All borrowings are collateralized by substantially all of the Company’s assets, including all real estate, accounts receivable and inventory. No borrowings from the line of credit were outstanding at December 31, 2014 and March 31, 2014. The outstanding letters of credit balances were $3,581,000 and $4,074,000 at December 31, 2014 and 2013, and borrowings under the line are subject to certain covenants and restrictions on indebtedness, financial guarantees, business combinations and other related items. The Company was in compliance with the terms of the credit agreement as of December 31, 2014.

ACCRUED_EXPENSES

ACCRUED EXPENSES	9 Months Ended
	Dec. 31, 2014
Payables and Accruals [Abstract]
ACCRUED EXPENSES	NOTE G–ACCRUED EXPENSES
	Accrued expenses consist of the following:
		December 31, 2014		March 31, 2014
	Marketing	$	10,072,000	$	11,671,000
	Compensation		7,579,000		9,338,000
	Warranties		27,794,000		19,357,000
	Insurance		6,334,000		7,026,000
	Other		6,497,000		7,267,000
		$	58,276,000	$	54,659,000

PRODUCT_WARRANTIES

PRODUCT WARRANTIES	9 Months Ended
	Dec. 31, 2014
Guarantees [Abstract]
PRODUCT WARRANTIES	NOTE H–PRODUCT WARRANTIES
	The Company generally provides a limited warranty to the owner of snowmobiles for twelve months from the date of consumer registration and for six months from the date of consumer registration on all-terrain vehicles (“ATVs”) and recreational off-highway vehicles (“ROVs”). The Company provides for estimated warranty costs at the time of sale based on historical rates and trends and makes subsequent adjustments to its estimate as actual claims become known or the amounts are determinable, including costs associated with safety recalls, which may occur after the standard warranty period. The following represents changes in the Company’s accrued warranty liability for the nine-month periods ended December 31:
		2014			2013
	Balance at beginning of period	$	19,357,000		$	18,709,000
	Warranty provision		19,409,000			12,369,000
	Warranty claim payments		(10,972,000	)		(9,059,000	)
	Balance at end of period	$	27,794,000		$	22,019,000

SHAREHOLDERS_EQUITY

SHAREHOLDERS' EQUITY	9 Months Ended
	Dec. 31, 2014
Equity [Abstract]
SHAREHOLDERS' EQUITY	NOTE I–SHAREHOLDERS’ EQUITY
	Share Repurchase Authorization
	During the nine months ended December 31, 2014 and 2013, the Company invested $1,007,000 and $4,771,000, respectively, to repurchase and cancel 26,951 and 95,618 shares of common stock, respectively, pursuant to the Board of Directors’ prior share repurchase program authorizations. At December 31, 2014 and 2013, the Company has remaining authorization to repurchase up to $26,076,000 and $25,499,000 of its common stock, or approximately 735,000 and 448,000 shares based on the per share closing price of $35.50 and $56.98 as of December 31, 2014 and 2013, respectively.
	Additional Paid-in-Capital
	The components of the changes in additional paid-in-capital during the following periods were as follows:
		Nine Months Ended December 31,
		2014			2013
	Balance at beginning of period	$	—		$	10,945,000
	Proceeds from issuance of common stock		34,000			18,000
	Payment for income taxes on net-settled option exercises		(1,335,000	)		(7,629,000	)
	Tax benefits from stock options exercised		752,000			7,495,000
	Repurchase of common stock		(1,007,000	)		(4,771,000	)
	Stock-based compensation expense		3,341,000			2,193,000
	Balance at end of period	$	1,785,000		$	8,251,000
	Accumulated Other Comprehensive Loss
	The components of the changes in accumulated other comprehensive loss during the following periods were as follows:
		Nine Months Ended December 31,
		2014			2013
	Balance at beginning of period	$	(2,110,000	)	$	(4,166,000	)
	Unrealized gain (loss) on derivative instruments, net of tax		1,804,000			934,000
	Foreign currency translation adjustment		(4,016,000	)		2,271,000
	Balance at end of period	$	(4,322,000	)	$	(961,000	)
	Retained Earnings
	The components of the changes in retained earnings during the following periods were as follows:
		Nine Months Ended December 31,
		2014			2013
	Balance at beginning of period	$	187,024,000		$	167,561,000
	Net earnings		26,445,000			40,953,000
	Dividends paid		(4,865,000	)		(4,023,000	)
	Balance at end of period	$	208,604,000		$	204,491,000

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE J–COMMITMENTS AND CONTINGENCIES
	Dealer Financing
	Finance companies provide the Company’s North American dealers with floorplan financing. The Company has agreements with these finance companies to repurchase certain repossessed products sold to its dealers. At December 31, 2014, the Company was contingently liable under these agreements for a maximum repurchase amount of approximately $68,850,000. The Company’s financial exposure under these agreements is limited to the difference between the amount paid to the finance companies for repurchases and the amount received upon the resale of the repossessed product. Losses incurred under these agreements during the periods presented have not been material. The financing agreements also have loss sharing provisions should any dealer default, whereby the Company shares certain losses with the finance companies. The maximum potential liability to the Company under these provisions is approximately $2,455,000 at December 31, 2014.
	Litigation
	The Company is subject to legal proceedings and claims which arise in the ordinary course of business. Accidents involving personal injury and property damage may occur in the use of snowmobiles, ATVs and ROVs. Claims have been made against the Company from time to time relating to these accidents, and from time to time, parties assert claims relating to their intellectual property. It is the Company’s practice to vigorously defend against these actions. The Company is not involved in any legal proceedings which it believes will have a materially adverse impact on the Company’s business or financial condition, results of operations or cash flows. The Company has recorded a reserve based on its estimated range of probable exposures based on the legal proceedings and claims of which it is aware. Should any settlement occur that exceeds the Company’s estimate or a new claim arise, the Company may need to adjust its overall reserve and, depending on the amount, such adjustment could be material.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Dec. 31, 2014
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE K–FAIR VALUE MEASUREMENTS
	As of December 31, 2014, we have notional Canadian dollar denominated cash flow hedges of approximately $47,202,000 (USD) with a weighted average contract exchange rate of 1.1017 CAD to USD. The Company’s foreign currency contract fair value was an asset totaling $2,439,000 and considered a Level 2 measurement as of December 31, 2014. As of March 31, 2014, the Company’s foreign currency contract fair value was a liability totaling $424,000 and considered a Level 2 measurement. See Note L for additional information regarding the Company’s Derivative Instruments and Hedging Activities.

DERIVATIVE_INSTRUMENTS_AND_HED

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	NOTE L–DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
	The Company is exposed to certain risks relating to its ongoing business operations. Foreign currency risk is the primary risk that is managed. Forward contracts are entered into in order to manage the foreign exchange risk associated with the forecasted revenue denominated in a foreign currency.
	The Company’s foreign currency management objective is to reduce earnings volatility related to movements in foreign exchange rates and limit the risk of loss in value of certain of its foreign currency-denominated cash flows. The Company actively manages certain forecasted foreign currency exposures, principally its exports sales to Canada. To protect against the reduction in value of forecasted foreign currency cash flows resulting from export sales, the Company hedges portions of its forecasted revenue denominated in foreign currencies with forward contracts. When the dollar strengthens against the foreign currency, the decline in present value of future foreign currency revenue is offset by gains in the fair value of the forward contracts designated as hedges. Conversely, when the dollar weakens, the increase in the present value of future foreign currency cash flows is offset by losses in the fair value of the forward contracts. The duration is linked to the timing of the underlying exposure, with the connection between the two being regularly monitored. The Company does not use any financial contracts for trading purposes.
	At December 31, 2014, the Company had the following open foreign currency contracts:
	Foreign Currency		Notional Amounts		Net Unrealized Gain (Loss)
			(in US Dollars)
	Canadian Dollar		$	47,202,000	$	2,439,000
	These contracts, with maturities through March 31, 2015, met the criteria for cash flow hedges and the unrealized gains or losses, after tax, are recorded as a component of accumulated other comprehensive income in shareholders’ equity.
	The table below summarizes the carrying values of derivative instruments as of December 31, 2014 and March 31, 2014:
			Carrying Values of Derivative Instruments as of December 31, 2014
	Derivatives designated as hedging instruments		Fair Value		Fair Value		Derivative Net
			Assets		(Liabilities)		Carrying Value
	Foreign exchange contracts (1)		$	2,439,000	$	—	$	2,439,000
			Carrying Values of Derivative Instruments as of March 31, 2014
	Derivatives designated as hedging instruments		Fair Value		Fair Value		Derivative Net
			Assets		(Liabilities)		Carrying Value
	Foreign exchange contracts (1)		$	—	$	424,000	$	424,000
	-1	Assets are included in Accounts Receivable and liabilities are included in Accounts Payable on the accompanying consolidated balance sheets.
	For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of accumulated other comprehensive income and reclassified into the income statement in the same period during which the hedged transaction affects the income statement. Gains and losses on the derivative representing hedge ineffectiveness are recognized in the current income statement. The table below provides data about the amount of gains and losses, net of tax, related to derivative instruments designated as cash flow hedges included in accumulated other comprehensive income for the three and nine months ended December 31, 2014 and 2013:
	Derivatives in Cash Flow Hedging Relationships		Three Months Ended				Nine Months Ended
			December 31,				December 31,
			2014		2013		2014		2013
	Foreign currency contracts		$	700,000	$	303,000	$	1,804,000	$	934,000
	The ineffective portion of foreign currency contracts was not material for the three and nine month periods ended December 31, 2014 and 2013.

SEGMENT_REPORTING

SEGMENT REPORTING	9 Months Ended
	Dec. 31, 2014
Segment Reporting [Abstract]
SEGMENT REPORTING	NOTE M–SEGMENT REPORTING
	The Company manages each segment based on gross margin and there are no material transactions between the segments. Operating, tax and other expenses are not allocated to individual segments. Additionally, given the crossover of customers, manufacturing and asset management, the Company does not maintain separate balance sheets for each segment. Accordingly, the segment information presented below is limited to sales and margin data.
		Three Months Ended				Nine Months Ended
		December 31,				December 31,
		2014		2013		2014		2013
	Net sales
	Snowmobile & ATV units	$	165,453,000	$	196,295,000	$	512,813,000	$	503,285,000
	Parts, garments, & accessories		28,282,000		29,495,000		87,040,000		81,798,000
	Total net sales		193,735,000		225,790,000		599,853,000		585,083,000
	Cost of goods sold
	Snowmobile & ATV units		140,158,000		166,994,000		422,923,000		402,650,000
	Parts, garments, & accessories		18,664,000		18,583,000		56,135,000		51,386,000
	Total cost of goods sold		158,822,000		185,577,000		479,058,000		454,036,000
	Gross profit
	Snowmobile & ATV units		25,295,000		29,301,000		89,890,000		100,635,000
	Parts, garments, & accessories		9,618,000		10,912,000		30,905,000		30,412,000
	Total gross profit	$	34,913,000	$	40,213,000	$	120,795,000	$	131,047,000
		Three Months Ended				Nine Months Ended
		December 31,				December 31,
		2014		2013		2014		2013
	Net sales by product line
	Snowmobile units	$	81,523,000	$	118,061,000	$	295,466,000	$	276,060,000
	ATV units		83,930,000		78,234,000		217,347,000		227,225,000
	Parts, garments, & accessories		28,282,000		29,495,000		87,040,000		81,798,000
	Total net sales	$	193,735,000	$	225,790,000	$	599,853,000	$	585,083,000
		Three Months Ended				Nine Months Ended
		December 31,				December 31,
		2014		2013		2014		2013
	Net sales by geography, based on location of the customer
	United States	$	122,412,000	$	151,966,000	$	361,607,000	$	319,355,000
	Canada		56,104,000		49,684,000		166,865,000		173,851,000
	Europe and other		15,219,000		24,140,000		71,381,000		91,877,000
	Total net sales	$	193,735,000	$	225,790,000	$	599,853,000	$	585,083,000
	The Company has identifiable long-lived assets with total carrying values of approximately $466,000 and $751,000 at December 31, 2014 and March 31, 2014, respectively, outside the United States in Canada and Europe.

RECENT_ACCOUNTING_PRONOUNCEMEN

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Dec. 31, 2014
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	NOTE N – RECENT ACCOUNTING PRONOUNCEMENTS
	In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers, which provides guidance for revenue recognition that supersedes existing revenue recognition guidance (but does not apply to nor supersede accounting guidance for lease contracts). The ASU’s core principle is that an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires more detailed disclosures to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The ASU is effective for reporting periods beginning after December 15, 2016, and should be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the ASU recognized at the date of initial application. The Company is currently in the process of evaluating the impact of the adoption of this ASU on the Company’s consolidated results.

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Dec. 31, 2014
Assumptions Used to Determine Fair Value of Stock Options Issued	For stock options issued during the nine months ended December 31, 2014 and 2013, the following assumptions were used to determine fair value:
			Nine Months Ended December 31,
	Assumptions used:		2014				2013
	Expected term (in years)			6 years				5 years
	Expected volatility			49	%			49	%
	Risk free interest rate			0.8	%			0.8	%
	Expected dividend			1	%			1	%
	Fair Value		$	14.9			$	17.71
Stock Option Activity	Option transactions under the plans during the nine months ended December 31, 2014, are summarized as follows:
			Shares				Weighted				Weighted				Aggregate
							Average				Average				Intrinsic Value
							Exercise Price				Contractual Life
	Outstanding at March 31, 2014			480,837			$	24.95
	Granted			257,890				35.12
	Exercised			(95,345	)			15.23
	Forfeited			(2,104	)			47.52
	Cancelled			(68,936	)			43.28
	Outstanding at December 31, 2014			572,342			$	28.86				8.18 years			$	4,969,000
	Exercisable at December 31, 2014			266,806			$	20.3				6.62 years			$	4,404,000
Options Outstanding and Exercisable
Stock Option Activity	The following tables summarize information concerning currently outstanding and exercisable stock options at December 31, 2014:
	Options Outstanding and Exercisable
	Range of Exercise				Number				Weighted Average				Weighted				Number		Weighted
	Prices				Outstanding				Remaining				Average				Exercisable		Average
									Contractual Life				Exercise Price						Exercise Price
	$	6.26				3,800				4.60 years			$	6.26				3,800	$	6.26
		9.57-13.84				54,287				5.25 years				10.79				54,287		10.79
		14.68-21.03				139,421				6.49 years				16.18				139,421		16.18
		21.96-27.69				24,000				8.85 years				24.83				24,000		24.83
		32.93-47.79				350,834				9.29 years				37.22				45,298		43.16
						572,342				8.18 years			$	28.86				266,806	$	20.3
Restricted Stock Award
Restricted Stock Activity	Restricted stock and restricted stock unit award activity under the Plans during the nine months ended December 31, 2014 and 2013 is summarized as follows:
			2014								2013
	Restricted Shares		Shares				Weighted				Shares				Weighted
							Average								Average
							Grant Date Fair								Grant Date Fair
							Value								Value
	Non-vested shares at March 31,			16,200			$	43.45				42,820			$	19.33
	Awarded			20,200				33.67				8,000				53.91
	Vested			(8,400	)			33.74				(34,120	)			15.66
	Forfeited			(3,000	)			37.6				(500	)			41.52
	Non-vested shares at December 31,			25,000			$	39.51				16,200			$	43.45
Restricted Stock Units
Restricted Stock Activity
			2014								2013
	Restricted Stock Units		Shares				Weighted				Shares				Weighted
							Average								Average
							Grant Date Fair								Grant Date Fair
							Value								Value
	Non-vested shares at March 31,			40,103			$	35.35				41,607			$	27.35
	Granted			120,973				34.39				17,976				42.99
	Vested			(50,959	)			32.85				(16,931	)			23.92
	Forfeited			(1,933	)			43.81				(1,217	)			27.6
	Non-vested shares at December 31,			108,184			$	35.3				41,435			$	35.53

NET_EARNINGS_PER_SHARE_Tables

NET EARNINGS PER SHARE (Tables)	9 Months Ended
	Dec. 31, 2014
Earnings Per Share [Abstract]
Schedule of Weighted Average Shares Outstanding	Weighted average shares outstanding consist of the following for the three and nine months ended December 31, 2014 and 2013:
		Three Months Ended				Nine Months Ended
		December 31,				December 31,
		2014		2013		2014		2013
	Weighted average number of common shares outstanding		12,941,000		13,420,000		12,920,000		13,338,000
	Dilutive effect of option plan		121,000		237,000		152,000		360,000
	Common and potential shares outstanding—diluted		13,062,000		13,657,000		13,072,000		13,698,000

INVENTORIES_Tables

INVENTORIES (Tables)	9 Months Ended
	Dec. 31, 2014
Inventory Disclosure [Abstract]
Components of Inventories	Inventories consist of the following:
		December 31, 2014		March 31, 2014
	Raw materials and sub-assemblies	$	37,059,000	$	52,580,000
	Finished goods		71,048,000		55,327,000
	Parts, garments and accessories		36,470,000		32,745,000
		$	144,577,000	$	140,652,000

ACCRUED_EXPENSES_Tables

ACCRUED EXPENSES (Tables)	9 Months Ended
	Dec. 31, 2014
Payables and Accruals [Abstract]
Components of Accrued Expenses	Accrued expenses consist of the following:
		December 31, 2014		March 31, 2014
	Marketing	$	10,072,000	$	11,671,000
	Compensation		7,579,000		9,338,000
	Warranties		27,794,000		19,357,000
	Insurance		6,334,000		7,026,000
	Other		6,497,000		7,267,000
		$	58,276,000	$	54,659,000

PRODUCT_WARRANTIES_Tables

PRODUCT WARRANTIES (Tables)	9 Months Ended
	Dec. 31, 2014
Guarantees [Abstract]
Changes in Accrued Warranty Liability	The following represents changes in the Company’s accrued warranty liability for the nine-month periods ended December 31:
		2014			2013
	Balance at beginning of period	$	19,357,000		$	18,709,000
	Warranty provision		19,409,000			12,369,000
	Warranty claim payments		(10,972,000	)		(9,059,000	)
	Balance at end of period	$	27,794,000		$	22,019,000

SHAREHOLDERS_EQUITY_Tables

SHAREHOLDERS' EQUITY (Tables)	9 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Components of Changes in Additional Paid-in-Capital	The components of the changes in additional paid-in-capital during the following periods were as follows:
		Nine Months Ended December 31,
		2014			2013
	Balance at beginning of period	$	—		$	10,945,000
	Proceeds from issuance of common stock		34,000			18,000
	Payment for income taxes on net-settled option exercises		(1,335,000	)		(7,629,000	)
	Tax benefits from stock options exercised		752,000			7,495,000
	Repurchase of common stock		(1,007,000	)		(4,771,000	)
	Stock-based compensation expense		3,341,000			2,193,000
	Balance at end of period	$	1,785,000		$	8,251,000
Components of Changes in Accumulated Other Comprehensive Loss	The components of the changes in accumulated other comprehensive loss during the following periods were as follows:
		Nine Months Ended December 31,
		2014			2013
	Balance at beginning of period	$	(2,110,000	)	$	(4,166,000	)
	Unrealized gain (loss) on derivative instruments, net of tax		1,804,000			934,000
	Foreign currency translation adjustment		(4,016,000	)		2,271,000
	Balance at end of period	$	(4,322,000	)	$	(961,000	)
Components of Changes in Retained Earnings	The components of the changes in retained earnings during the following periods were as follows:
		Nine Months Ended December 31,
		2014			2013
	Balance at beginning of period	$	187,024,000		$	167,561,000
	Net earnings		26,445,000			40,953,000
	Dividends paid		(4,865,000	)		(4,023,000	)
	Balance at end of period	$	208,604,000		$	204,491,000

DERIVATIVE_INSTRUMENTS_AND_HED1

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Foreign Currency Contracts	At December 31, 2014, the Company had the following open foreign currency contracts:
	Foreign Currency		Notional Amounts		Net Unrealized Gain (Loss)
			(in US Dollars)
	Canadian Dollar		$	47,202,000	$	2,439,000
Summary of Carrying Values of Derivative Instruments	The table below summarizes the carrying values of derivative instruments as of December 31, 2014 and March 31, 2014:
			Carrying Values of Derivative Instruments as of December 31, 2014
	Derivatives designated as hedging instruments		Fair Value		Fair Value		Derivative Net
			Assets		(Liabilities)		Carrying Value
	Foreign exchange contracts (1)		$	2,439,000	$	—	$	2,439,000
			Carrying Values of Derivative Instruments as of March 31, 2014
	Derivatives designated as hedging instruments		Fair Value		Fair Value		Derivative Net
			Assets		(Liabilities)		Carrying Value
	Foreign exchange contracts (1)		$	—	$	424,000	$	424,000
	-1	Assets are included in Accounts Receivable and liabilities are included in Accounts Payable on the accompanying consolidated balance sheets.
Schedule of Gains and Losses, Net of Tax, Related to Derivative Instruments Designated as Cash Flow Hedges	The table below provides data about the amount of gains and losses, net of tax, related to derivative instruments designated as cash flow hedges included in accumulated other comprehensive income for the three and nine months ended December 31, 2014 and 2013:
	Derivatives in Cash Flow Hedging Relationships		Three Months Ended				Nine Months Ended
			December 31,				December 31,
			2014		2013		2014		2013
	Foreign currency contracts		$	700,000	$	303,000	$	1,804,000	$	934,000

SEGMENT_REPORTING_Tables

SEGMENT REPORTING (Tables)	9 Months Ended
	Dec. 31, 2014
Segment Reporting [Abstract]
Schedule of Segment Information	Accordingly, the segment information presented below is limited to sales and margin data.
		Three Months Ended				Nine Months Ended
		December 31,				December 31,
		2014		2013		2014		2013
	Net sales
	Snowmobile & ATV units	$	165,453,000	$	196,295,000	$	512,813,000	$	503,285,000
	Parts, garments, & accessories		28,282,000		29,495,000		87,040,000		81,798,000
	Total net sales		193,735,000		225,790,000		599,853,000		585,083,000
	Cost of goods sold
	Snowmobile & ATV units		140,158,000		166,994,000		422,923,000		402,650,000
	Parts, garments, & accessories		18,664,000		18,583,000		56,135,000		51,386,000
	Total cost of goods sold		158,822,000		185,577,000		479,058,000		454,036,000
	Gross profit
	Snowmobile & ATV units		25,295,000		29,301,000		89,890,000		100,635,000
	Parts, garments, & accessories		9,618,000		10,912,000		30,905,000		30,412,000
	Total gross profit	$	34,913,000	$	40,213,000	$	120,795,000	$	131,047,000
		Three Months Ended				Nine Months Ended
		December 31,				December 31,
		2014		2013		2014		2013
	Net sales by product line
	Snowmobile units	$	81,523,000	$	118,061,000	$	295,466,000	$	276,060,000
	ATV units		83,930,000		78,234,000		217,347,000		227,225,000
	Parts, garments, & accessories		28,282,000		29,495,000		87,040,000		81,798,000
	Total net sales	$	193,735,000	$	225,790,000	$	599,853,000	$	585,083,000
		Three Months Ended				Nine Months Ended
		December 31,				December 31,
		2014		2013		2014		2013
	Net sales by geography, based on location of the customer
	United States	$	122,412,000	$	151,966,000	$	361,607,000	$	319,355,000
	Canada		56,104,000		49,684,000		166,865,000		173,851,000
	Europe and other		15,219,000		24,140,000		71,381,000		91,877,000
	Total net sales	$	193,735,000	$	225,790,000	$	599,853,000	$	585,083,000

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant	916,008		916,008
Stock-based compensation expense			$3,341,000	$2,193,000
Stock-based compensation related expense reduced in basic and diluted earnings per share	$0.03	$0.01	$0.19	$0.10
Unrecognized compensation costs related to non-vested stock options and restricted stock awards	7,756,000		7,756,000
Compensation expense related to non-vested stock options and restricted stock awards, weighted average period of recognition			2 years
Volatility look back period			2 years 6 months
Stock and option grants, forfeiture rate			10.00%
Restricted Stock Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock issued and outstanding	25,000	16,200	25,000	16,200	16,200	42,820
Restricted Stock Award | 2013 Omnibus Stock and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock issued and outstanding	17,700		17,700
Restricted Stock Award | 2007 Omnibus Stock and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock issued and outstanding	7,300		7,300
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock issued and outstanding	108,184	41,435	108,184	41,435	40,103	41,607
Restricted Stock Units | 2013 Omnibus Stock and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock issued and outstanding	34,219		34,219
Restricted Stock Units | 2007 Omnibus Stock and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock issued and outstanding	13,231		13,231
Restricted Stock Units | Executive Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock issued and outstanding	60,734		60,734
Stock Options and Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$543,000	$272,000	$3,341,000	$2,193,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option granted term			5 years
Stock options and restricted stock awards granted, vesting period			1 year
Minimum | 2013 Omnibus Stock and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock award requisite service period			2 years
Minimum | Restricted Stock Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options and restricted stock awards granted, vesting period			2 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option granted term			10 years
Stock options and restricted stock awards granted, vesting period			3 years
Maximum | 2013 Omnibus Stock and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock award requisite service period			3 years
Maximum | Restricted Stock Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options and restricted stock awards granted, vesting period			3 years

StockBased_Compensation_Assump

Stock-Based Compensation - Assumptions Used to Determine Fair Value of Stock Option Issued (Detail) (USD $)	9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected term (in years)	6 years	5 years
Expected volatility	49.00%	49.00%
Risk free interest rate	0.80%	0.80%
Expected dividend	1.00%	1.00%
Fair Value	$14.90	$17.71

StockBased_Compensation_Option

Stock-Based Compensation - Option Transactions Under Plans (Detail) (USD $)	9 Months Ended
	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of Shares under option, Outstanding beginning balance	480,837
Number of Shares under option, Granted	257,890
Number of Shares under option, Exercised	-95,345
Number of Shares under option, Forfeited	-2,104
Number of Shares under option, Cancelled	-68,936
Number of Shares under option, Outstanding ending balance	572,342
Number of Shares under option, Options exercisable	266,806
Weighted-Average Exercise Price, Outstanding beginning balance	$24.95
Weighted-Average Exercise Price, Granted	$35.12
Weighted-Average Exercise Price, Exercised	$15.23
Weighted-Average Exercise Price, Forfeited	$47.52
Weighted-Average Exercise Price, Cancelled	$43.28
Weighted-Average Exercise Price, Outstanding ending balance	$28.86
Weighted-Average Exercise Price, Options exercisable	$20.30
Weighted-Average Contractual Life Years, Outstanding ending balance	8 years 2 months 5 days
Weighted-Average Contractual Life Years, Exercisable ending balance	6 years 7 months 13 days
Aggregate Intrinsic Value, Outstanding ending balance	$4,969,000
Aggregate Intrinsic Value, Exercisable ending balance	$4,404,000

StockBased_Compensation_Summar

Stock-Based Compensation - Summary of Information Concerning Currently Outstanding and Exercisable Stock Option (Detail) (USD $)	9 Months Ended
	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number Outstanding	572,342
Weighted Average Remaining Contractual Life	8 years 2 months 5 days
Weighted Average Exercise Price	$28.86
Number Exercisable	266,806
Weighted Average Exercise Price	$20.30
6.26
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Prices, Maximum	$6.26
Number Outstanding	3,800
Weighted Average Remaining Contractual Life	4 years 7 months 6 days
Weighted Average Exercise Price	$6.26
Number Exercisable	3,800
Weighted Average Exercise Price	$6.26
9.57-13.84
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Prices, Minimum	$9.57
Range of Exercise Prices, Maximum	$13.84
Number Outstanding	54,287
Weighted Average Remaining Contractual Life	5 years 3 months
Weighted Average Exercise Price	$10.79
Number Exercisable	54,287
Weighted Average Exercise Price	$10.79
14.68-21.03
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Prices, Minimum	$14.68
Range of Exercise Prices, Maximum	$21.03
Number Outstanding	139,421
Weighted Average Remaining Contractual Life	6 years 5 months 27 days
Weighted Average Exercise Price	$16.18
Number Exercisable	139,421
Weighted Average Exercise Price	$16.18
21.96-27.69
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Prices, Minimum	$21.96
Range of Exercise Prices, Maximum	$27.69
Number Outstanding	24,000
Weighted Average Remaining Contractual Life	8 years 10 months 6 days
Weighted Average Exercise Price	$24.83
Number Exercisable	24,000
Weighted Average Exercise Price	$24.83
32.93-47.79
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Prices, Minimum	$32.93
Range of Exercise Prices, Maximum	$47.79
Number Outstanding	350,834
Weighted Average Remaining Contractual Life	9 years 3 months 15 days
Weighted Average Exercise Price	$37.22
Number Exercisable	45,298
Weighted Average Exercise Price	$43.16

StockBased_Compensation_Restri

Stock-Based Compensation - Restricted Stock Activity (Detail) (USD $)	9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Restricted Stock Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested shares, Beginning balance	16,200	42,820
Awarded	20,200	8,000
Vested	-8,400	-34,120
Forfeited	-3,000	-500
Non-vested shares, Ending balance	25,000	16,200
Non-vested shares, Weighted-Average Grant Date Fair Value Beginning	$43.45	$19.33
Awarded	$33.67	$53.91
Vested	$33.74	$15.66
Forfeited	$37.60	$41.52
Non-vested shares, Weighted-Average Grant Date Fair Value Ending	$39.51	$43.45
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested shares, Beginning balance	40,103	41,607
Awarded	120,973	17,976
Vested	-50,959	-16,931
Forfeited	-1,933	-1,217
Non-vested shares, Ending balance	108,184	41,435
Non-vested shares, Weighted-Average Grant Date Fair Value Beginning	$35.35	$27.35
Awarded	$34.39	$42.99
Vested	$32.85	$23.92
Forfeited	$43.81	$27.60
Non-vested shares, Weighted-Average Grant Date Fair Value Ending	$35.30	$35.53

Net_Earnings_Per_Share_Additio

Net Earnings Per Share - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Anti-dilutive options to purchase shares of common stock excluded from computation of common share equivalents	131,738	0	154,725	0
Anti-dilutive options to purchase shares of common stock excluded from computation of common share equivalents, weighted average exercise price	$44.42	$0	$44.38	$0

Net_Earnings_Per_Share_Schedul

Net Earnings Per Share - Schedule of Weighted Average Shares Outstanding (Detail)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Weighted average number of common shares outstanding	12,941,000	13,420,000	12,920,000	13,338,000
Dilutive effect of option plan	121,000	237,000	152,000	360,000
Common and potential shares outstanding-diluted	13,062,000	13,657,000	13,072,000	13,698,000

ShortTerm_Investments_Addition

Short-Term Investments - Additional Information (Detail) (USD $)	Dec. 31, 2014	Mar. 31, 2014
Short-term Investments [Abstract]
Investment in money market funds	$10,008,000	$60,008,000

Inventories_Components_of_Inve

Inventories - Components of Inventories (Detail) (USD $)	Dec. 31, 2014	Mar. 31, 2014
Inventories [Abstract]
Raw materials and sub-assemblies	$37,059,000	$52,580,000
Finished goods	71,048,000	55,327,000
Parts, garments and accessories	36,470,000	32,745,000
Inventory, Total	$144,577,000	$140,652,000

Line_of_Credit_Additional_Info

Line of Credit - Additional Information (Detail) (USD $)	9 Months Ended
	Dec. 31, 2014	Nov. 30, 2013	Nov. 30, 2009	Mar. 31, 2014	Dec. 31, 2013
Line of Credit Facility [Line Items]
Borrowings under line of credit bear interest at effective rate	3.50%
Line of credit Interest rate description	Borrowings under the line of credit bear interest at the greater of the following rates: the prime rate plus 0.75%, the federal funds rate plus 0.50% or LIBOR for a 30 day interest period plus 1.00%. As of DecemberB 31, 2014, the effective rate was 3.5%.was 3.5%.
Senior Secured Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity value		$100,000,000	$60,000,000
Senior secured revolving credit agreement description	This agreement is scheduled to expire in November 2017. Under the agreement, the Company may borrow up to $100,000,000 during May through November and up to $50,000,000 during all other months of the fiscal year.
Senior Secured Revolving Credit Facility | Prime Rate
Line of Credit Facility [Line Items]
Line of credit, basis spread variable rate	0.75%
Senior Secured Revolving Credit Facility | Libor Rate
Line of Credit Facility [Line Items]
Line of credit, basis spread variable rate	1.00%
Senior Secured Revolving Credit Facility | Federal Funds Rate
Line of Credit Facility [Line Items]
Line of credit, basis spread variable rate	0.50%
Line of Credit
Line of Credit Facility [Line Items]
Outstanding letters of credit balances	0			0
Letter of Credit
Line of Credit Facility [Line Items]
Outstanding letters of credit balances	3,581,000				4,074,000
May through November | Senior Secured Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity value	100,000,000
All other months | Senior Secured Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity value	50,000,000

Accrued_Expenses_Components_of

Accrued Expenses - Components of Accrued Expenses (Detail) (USD $)	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013
Accrued Liabilities, Current [Abstract]
Marketing	$10,072,000	$11,671,000
Compensation	7,579,000	9,338,000
Warranties	27,794,000	19,357,000	22,019,000	18,709,000
Insurance	6,334,000	7,026,000
Other	6,497,000	7,267,000
Accrued Liabilities, Current, Total	$58,276,000	$54,659,000

Product_Warranties_Additional_

Product Warranties - Additional Information (Detail)	9 Months Ended
	Dec. 31, 2014
Snowmobiles
Product Warranty [Line Items]
Product warranty term from date of consumer registration	12 months
ATV And ROV Units
Product Warranty [Line Items]
Product warranty term from date of consumer registration	6 months

Product_Warranties_Changes_in_

Product Warranties - Changes in Accrued Warranty Liability (Detail) (USD $)	9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Product Warranties Disclosures [Abstract]
Product Warranty Accrual, Beginning of period	$19,357,000	$18,709,000
Warranty provision	19,409,000	12,369,000
Warranty claim payments	-10,972,000	-9,059,000
Product Warranty Accrual, End of period	$27,794,000	$22,019,000

Shareholders_Equity_Additional

Shareholders' Equity - Additional Information (Detail) (USD $)	9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Stockholders' Equity Note [Abstract]
Value of shares repurchased and canceled	$1,007,000	$4,771,000
Number of shares repurchased and canceled	26,951	95,618
Stock repurchase program remaining authorized repurchase value	$26,076,000	$25,499,000
Remaining authorization common stock repurchase	735,000	448,000
Remaining authorization common stock repurchase per share closing price	$35.50	$56.98

Shareholders_Equity_Components

Shareholders' Equity - Components of Changes in Additional Paid-in-Capital (Detail) (USD $)	9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Equity [Abstract]
Additional paid-in-capital, Beginning Balance		$10,945,000
Proceeds from issuance of common stock	34,000	18,000
Payment for income taxes on net-settled option exercises	-1,335,000	-7,629,000
Tax benefits from stock options exercised	752,000	7,495,000
Repurchase of common stock	-1,007,000	-4,771,000
Stock-based compensation expense	3,341,000	2,193,000
Additional paid-in-capital, Ending Balance	$1,785,000	$8,251,000

Shareholders_Equity_Components1

Shareholders' Equity - Components of Changes in Accumulated Other Comprehensive Income (Loss) (Detail) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Equity [Abstract]
Balance at beginning of period			($2,110,000)	($4,166,000)
Unrealized gain (loss) on derivative instruments, net of tax	700,000	303,000	1,804,000	934,000
Foreign currency translation adjustment	-1,109,000	545,000	-4,016,000	2,271,000
Balance at end of period	($4,322,000)	($961,000)	($4,322,000)	($961,000)

Shareholders_Equity_Components2

Shareholders' Equity - Components of Changes in Retained Earnings (Detail) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Equity [Abstract]
Balance at beginning of period			$187,024,000	$167,561,000
Net earnings	7,487,000	12,120,000	26,445,000	40,953,000
Dividends paid			-4,865,000	-4,023,000
Balance at end of period	$208,604,000	$204,491,000	$208,604,000	$204,491,000

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (USD $)	Dec. 31, 2014
Loss Contingencies [Line Items]
Maximum repurchase amount repossessed products sold to dealers	$68,850,000
Loss Sharing Provisions
Loss Contingencies [Line Items]
Maximum repurchase amount repossessed products sold to dealers	$2,455,000

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (USD $)	Dec. 31, 2014	Mar. 31, 2014
Fair Value Measurements Disclosure [Line Items]
Denominated cash flow hedges notional amount	$47,202,000
Weighted average contract exchange rate	1.1017
Fair Value, Inputs, Level 2
Fair Value Measurements Disclosure [Line Items]
Foreign currency contract fair value liability	$2,439,000	$424,000

Recovered_Sheet1

Derivative Instruments and Hedging Activities - Schedule of Foreign Currency Contracts (Detail) (USD $)	9 Months Ended
	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amounts	$47,202,000
Foreign Currency Canadian Dollar
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amounts	47,202,000
Net Unrealized Gain (Loss)	$2,439,000

Recovered_Sheet2

Derivative Instruments and Hedging Activities - Additional Information (Detail) (Maximum)	9 Months Ended
	Dec. 31, 2014
Maximum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Maturity of foreign currency derivatives	31-Mar-15

Derivative_Instruments_and_Hed2

Derivative Instruments and Hedging Activities - Summary of Carrying Values of Derivative Instruments (Detail) (Designated as Hedging Instrument, USD $)	Dec. 31, 2014	Mar. 31, 2014
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Fair Value Assets	$2,439,000
Fair Value (Liabilities)		424,000
Derivative Net Carrying Value	$2,439,000	$424,000

Derivative_Instruments_and_Hed3

Derivative Instruments and Hedging Activities - Schedule of Gains and Losses, Net of Tax, Related to Derivative Instruments Designated as Cash Flow Hedges (Detail) (Derivative in Cash Flow Hedging Relationships, USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Derivative in Cash Flow Hedging Relationships
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign currency contracts	$700,000	$303,000	$1,804,000	$934,000

Segment_Reporting_Schedule_of_

Segment Reporting - Schedule of Segment Information (Detail) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Net sales	$193,735,000	$225,790,000	$599,853,000	$585,083,000
Cost of goods sold	158,822,000	185,577,000	479,058,000	454,036,000
Gross profit	34,913,000	40,213,000	120,795,000	131,047,000
United States
Segment Reporting Information [Line Items]
Net sales	122,412,000	151,966,000	361,607,000	319,355,000
Canada
Segment Reporting Information [Line Items]
Net sales	56,104,000	49,684,000	166,865,000	173,851,000
Europe and other
Segment Reporting Information [Line Items]
Net sales	15,219,000	24,140,000	71,381,000	91,877,000
Snowmobile units - Product line
Segment Reporting Information [Line Items]
Net sales	81,523,000	118,061,000	295,466,000	276,060,000
ATV units - Product line
Segment Reporting Information [Line Items]
Net sales	83,930,000	78,234,000	217,347,000	227,225,000
Parts, garments & accessories - Product line
Segment Reporting Information [Line Items]
Net sales	28,282,000	29,495,000	87,040,000	81,798,000
Snowmobile & ATV units
Segment Reporting Information [Line Items]
Net sales	165,453,000	196,295,000	512,813,000	503,285,000
Cost of goods sold	140,158,000	166,994,000	422,923,000	402,650,000
Gross profit	25,295,000	29,301,000	89,890,000	100,635,000
Parts, garments & accessories
Segment Reporting Information [Line Items]
Net sales	28,282,000	29,495,000	87,040,000	81,798,000
Cost of goods sold	18,664,000	18,583,000	56,135,000	51,386,000
Gross profit	$9,618,000	$10,912,000	$30,905,000	$30,412,000

Segment_Reporting_Additional_I

Segment Reporting - Additional Information (Detail) (Europe and Canada, USD $)	Dec. 31, 2014	Mar. 31, 2014
Europe and Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets with carrying value	$466,000	$751,000