Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Dec. 31, 2013 | Feb. 06, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'MEDICAL ACTION INDUSTRIES INC | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--03-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 16,390,628 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0000748270 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 31-Dec-13 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current Assets | ' | ' |
Cash and cash equivalents | $102 | $558 |
Accounts receivable, less allowance for doubtful accounts of $505 at December 31, 2013 and $793 at March 31, 2013 | 33,129 | 32,615 |
Inventories, net | 52,941 | 53,014 |
Prepaid expenses | 1,430 | 1,424 |
Deferred income taxes | 1,513 | 1,410 |
Prepaid income taxes | 99 | 1,022 |
Other current assets | 2,047 | 2,295 |
Total current assets | 91,261 | 92,338 |
Property, plant and equipment, net of accumulated depreciation of $40,642 at December 31, 2013 and $38,069 at March 31, 2013 | 42,623 | 44,960 |
Goodwill | 30,021 | 30,021 |
Other intangible assets, net | 34,619 | 36,586 |
Other assets, net | 7,256 | 2,994 |
Total Assets | 205,780 | 206,899 |
Current Liabilities | ' | ' |
Accounts payable | 20,220 | 13,523 |
Accrued expenses | 20,158 | 25,106 |
Current portion of capital lease obligation | 213 | 176 |
Current portion of long-term debt | 1,644 | 1,370 |
Total current liabilities | 42,235 | 40,175 |
Other long-term liabilities | 4,966 | 595 |
Deferred income taxes | 6,415 | 6,415 |
Capital lease obligation, less current portion | 13,305 | 13,475 |
Long-term debt, less current portion | 39,814 | 51,330 |
Total Liabilities | 106,735 | 111,990 |
Common stock 40,000 shares authorized, $.001 par value; issued and outstanding 16,391 shares at December 31, 2013 and March 31, 2013 | 16 | 16 |
Additional paid-in capital | 36,340 | 35,492 |
Accumulated other comprehensive loss | -773 | -773 |
Retained earnings | 63,462 | 60,174 |
Total Stockholders’ Equity | 99,045 | 94,909 |
Total Liabilities and Stockholders’ Equity | $205,780 | $206,899 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, except Per Share data, unless otherwise specified | ||
Accounts receivable, allowance for doubtful accounts (in Dollars) | $505 | $793 |
Property, plant and equipment, accumulated depreciation (in Dollars) | $40,642 | $38,069 |
Common stock, shares authorized (in Shares) | 40,000 | 40,000 |
Common stock, par value (in Dollars per share) | $0.00 | $0.00 |
Common stock, shares issued (in Shares) | 16,391 | 16,391 |
Common stock, shares outstanding (in Shares) | 16,391 | 16,391 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Net sales | $109,967 | $109,399 | $325,471 | $333,736 |
Cost of sales | 89,725 | 90,304 | 268,902 | 280,226 |
Gross profit | 20,242 | 19,095 | 56,569 | 53,510 |
Selling, general and administrative expenses | 16,484 | 15,899 | 48,052 | 48,009 |
Goodwill impairment charge | ' | 78,609 | ' | 78,609 |
Operating income (loss) | 3,758 | -75,413 | 8,517 | -73,108 |
Interest expense, net | 739 | 1,143 | 3,312 | 3,565 |
Income (loss) before income taxes | 3,019 | -76,556 | 5,205 | -76,673 |
Income tax expense (benefit) | 1,108 | -21,053 | 1,917 | -21,098 |
Net income (loss) | $1,911 | ($55,503) | $3,288 | ($55,575) |
Basic | ' | ' | ' | ' |
Net income (loss) (in Dollars per share) | $0.12 | ($3.39) | $0.20 | ($3.39) |
Weighted-average common shares outstanding (basic) (in Shares) | 16,391 | 16,391 | 16,391 | 16,391 |
Diluted | ' | ' | ' | ' |
Net income (loss) (in Dollars per share) | $0.12 | ($3.39) | $0.20 | ($3.39) |
Weighted-average common shares outstanding (diluted) (in Shares) | 16,468 | 16,391 | 16,464 | 16,391 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Net income (loss) | $1,911 | ($55,503) | $3,288 | ($55,575) |
Other comprehensive income (loss): | ' | ' | ' | ' |
Total comprehensive income (loss) | $1,911 | ($55,503) | $3,288 | ($55,575) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Retained Earnings [Member] | Total |
In Thousands | |||||
Balance at Mar. 31, 2013 | $16 | $35,492 | ($773) | $60,174 | $94,909 |
Balance, shares (in Shares) at Mar. 31, 2013 | 16,391 | ' | ' | ' | ' |
Net income | ' | ' | ' | 3,288 | 3,288 |
Amortization of deferred compensation | ' | 14 | ' | ' | 14 |
Stock-based compensation | ' | 834 | ' | ' | 834 |
Balance at Dec. 31, 2013 | $16 | $36,340 | ($773) | $63,462 | $99,045 |
Balance, shares (in Shares) at Dec. 31, 2013 | 16,391 | ' | ' | ' | ' |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Net income (loss) | $3,288 | ($55,575) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' |
Depreciation | 3,612 | 3,825 |
Amortization | 3,341 | 2,859 |
Goodwill impairment charge | ' | 78,609 |
Provision for allowance for doubtful accounts | -288 | 9 |
Deferred income taxes | -103 | -22,032 |
Stock-based compensation | 848 | 788 |
Gain on sale of property and equipment | -124 | -2 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -226 | 2,142 |
Inventories | 73 | -574 |
Prepaid expenses and other current assets | 242 | -366 |
Prepaid income taxes | 923 | 771 |
Other assets | -4,499 | -469 |
Accounts payable | 6,697 | 3,150 |
Accrued expenses and other | -577 | 4,370 |
Net cash provided by operating activities | 13,207 | 17,505 |
Cash flows from investing activities: | ' | ' |
Purchases of property, plant and equipment | -1,319 | -1,264 |
Proceeds from sale of property and equipment | 168 | 4 |
Net cash used in investing activities | -1,151 | -1,260 |
Cash flows from financing activities: | ' | ' |
Proceeds from revolving line of credit and long-term borrowings | 138,079 | 60,550 |
Principal payments on revolving line of credit and long-term borrowings | -149,321 | -81,920 |
Principal payments on capital lease obligations | -133 | -100 |
Deferred financing costs | -1,137 | ' |
Net cash used in financing activities | -12,512 | -21,470 |
Net decrease in cash and cash equivalents | -456 | -5,225 |
Cash and cash equivalents at beginning of year | 558 | 5,384 |
Cash and cash equivalents at end of year | 102 | 159 |
Interest paid | 2,676 | 3,358 |
Income taxes paid | $925 | $163 |
Note_1_Basis_of_Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Dec. 31, 2013 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
Note 1. Basis of Presentation | |
The accompanying unaudited interim condensed consolidated financial statements of Medical Action Industries Inc. (“we”, “us”, “our”, or “ourselves”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and with the instructions to Form 10-Q for quarterly reports under Section 13 or 15(d) of the Securities Exchange Act of 1934. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the nine month period ended December 31, 2013 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2014. For further information, refer to the consolidated financial statements and footnotes thereto included in our 2013 Annual Report on Form 10-K. | |
A summary of our significant accounting policies is identified in Note 1 “Organization and Summary of Significant Accounting Policies” of our 2013 Annual Report on Form 10-K. Users of financial information produced for interim periods are encouraged to refer to the notes contained in the 2013 Annual Report on Form 10-K when reviewing interim financial results. There have been no changes to our significant accounting policies or to the assumptions and estimates involved in applying these policies. The consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries. All significant inter-company accounts and transactions have been eliminated in consolidation. All dollar amounts presented in our notes to condensed consolidated financial statements are presented in thousands, except share and per share data. | |
During the second quarter of fiscal 2014, we identified an immaterial error in the classification of debt issuance costs in our condensed consolidated statement of cash flows for the three months ended June 30, 2013 reported in our Form 10-Q dated August 2, 2013 whereas debt issuance costs of $1,018 were classified as operating activities and should have been presented as financing activities. The impact of this error resulted in cash flows from operating activities being understated by $1,018 and cash flows from financing activities being overstated by the same amount. The accompanying condensed consolidated statement of cash flows for the nine months ended December 31, 2013 appropriately reflects total debt issuance costs incurred to date of $1,137 as financing activities. | |
Note_2_Summary_of_Significant_
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Significant Accounting Policies [Text Block] | ' |
Note 2. Summary of Significant Accounting Policies | |
The preparation of consolidated annual and quarterly financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, the disclosure of contingent assets and liabilities at the date of our condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. We have made a number of estimates and assumptions in the preparation of these condensed consolidated financial statements. Actual results may differ from those estimates. Some of the more significant estimates include allowances for trade rebates and doubtful accounts, realizability of inventories, goodwill and other intangible assets, depreciation and amortization of long-lived assets, valuation of deferred tax assets, pensions and other postretirement benefits and environmental and litigation matters. There have been no material changes to our critical accounting policies and estimates from the information provided in Note 1 of the notes to our consolidated financial statements in our Annual Report on Form 10-K for the year ended March 31, 2013. | |
Note_3_Recently_Issued_Account
Note 3 - Recently Issued Accounting Pronouncements | 9 Months Ended |
Dec. 31, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | ' |
Note 3. Recently Issued Accounting Pronouncements | |
Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists | |
In July 2013, Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-11 relating to income taxes (FASB ASC 740 – Income Taxes), which provides guidance on the presentation of unrecognized tax benefits. The intent is to better reflect the manner in which an entity would settle at the reporting date any additional income taxes that would result from the disallowance of a tax position when net operating loss carryforwards, similar tax losses, or tax credit carryforwards exist. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. We are evaluating the impact that the adoption of this standard may have on our consolidated financial statements. | |
Indefinite-Lived Intangible Assets Impairment Testing | |
In July 2012, the FASB issued ASU 2012-02, Testing Indefinite-Lived Intangible Assets for Impairment (“ASU 2012-02”), which amended the provisions of FASB ASC 350, Intangibles - Goodwill and Other. ASU 2012-02 permits an entity to make a qualitative assessment of whether it is more likely than not that an indefinite-lived intangible asset is less than its carrying amount before applying the second step of the impairment test. If an entity concludes that it is not more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount, it would not be required to perform the second step of the impairment test for that indefinite-lived intangible asset. The new standard is effective for annual and interim indefinite-lived intangible assets impairment tests performed in fiscal years beginning after December 15, 2012, which for us was April 1, 2013. We adopted this amended guidance in the third quarter of fiscal 2014. The adoption of this guidance did not impact our financial position or results of operations. | |
Note_4_Inventories
Note 4 - Inventories | 9 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventory Disclosure [Text Block] | ' | ||||||||
Note 4. Inventories | |||||||||
Inventories, which are stated at the lower of cost (determined by means of the first in, first out method) or market, consist of the following: | |||||||||
December 31, | March 31, | ||||||||
2013 | 2013 | ||||||||
Finished goods, net | $ | 25,669 | $ | 30,531 | |||||
Raw materials, net | 20,588 | 17,766 | |||||||
Work in progress, net | 6,684 | 4,717 | |||||||
Total inventories, net | $ | 52,941 | $ | 53,014 | |||||
On a continuing basis, inventory quantities on hand are reviewed and an analysis of the provision for slow moving, excess and obsolete inventory is performed based primarily on our sales history and anticipated future demand. The reserve for slow moving, excess and obsolete inventory amounted to approximately $1,782 at December 31, 2013 and $1,091 at March 31, 2013. | |||||||||
Note_5_Related_Party_Transacti
Note 5 - Related Party Transactions | 9 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Related Party Transactions [Abstract] | ' | ||||||||||||||||
Related Party Transactions Disclosure [Text Block] | ' | ||||||||||||||||
Note 5. Related Party Transactions | |||||||||||||||||
As part of the assets and liabilities acquired in August 2010 as a result of the AVID acquisition, we assumed a capital lease obligation for the AVID facility located in Toano, Virginia. The facility, which includes an 185,000 square foot manufacturing and warehouse building and approximately 12 acres of land, is owned by Micpar Realty, LLC (“Micpar”). AVID’s founder, former CEO and principal shareholder, is a part owner of Micpar and subsequent to the acquisition of AVID, he was elected to our board of directors. As of August 2012, he no longer serves on our Board of Directors. The gross amount and net book value of the assets under the capital lease are as follows: | |||||||||||||||||
December 31, | March 31, | ||||||||||||||||
2013 | 2013 | ||||||||||||||||
Capital lease, gross | $ | 11,409 | $ | 11,409 | |||||||||||||
Less: Accumulated amortization | (2,046 | ) | (1,586 | ) | |||||||||||||
Capital lease, net | $ | 9,363 | $ | 9,823 | |||||||||||||
During the three and nine months ended December 31, 2013 and 2012, we recorded amortization expense associated with the capital lease, as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Amortization Expense included in: | |||||||||||||||||
Cost of sales | $ | 35 | $ | 35 | $ | 106 | $ | 106 | |||||||||
Selling, general and administrative expenses | 118 | 119 | 354 | 355 | |||||||||||||
Total | $ | 153 | $ | 154 | $ | 460 | $ | 461 | |||||||||
As of December 31, 2013, the capital lease requires monthly payments of $127 with increases of 2% per annum. The lease contains provisions for an option to buy in January of 2016 and expires in March 2029. The effective rate on the capital lease obligation is 9.9%. We recorded interest expense associated with the lease obligation of $334 and $338 for the three months ended December 31, 2013 and 2012, respectively and $1,005 and $1,016 for the nine months ended December 31, 2013 and 2012, respectively. | |||||||||||||||||
The following is a schedule by years of the future minimum lease payments under the capital lease as of December 31, 2013: | |||||||||||||||||
Capital Lease | |||||||||||||||||
Payments | |||||||||||||||||
Balance of Fiscal 2014 | $ | 380 | |||||||||||||||
2015 | 1,549 | ||||||||||||||||
2016 | 1,580 | ||||||||||||||||
2017 | 1,611 | ||||||||||||||||
2018 | 1,643 | ||||||||||||||||
Thereafter | 20,398 | ||||||||||||||||
Total minimum lease payments | 27,161 | ||||||||||||||||
Less: Amounts representing interest | 13,643 | ||||||||||||||||
Present value of minimum lease payments | 13,518 | ||||||||||||||||
Less: Current portion of capital lease obligation | 213 | ||||||||||||||||
Long-term portion of capital lease obligation | $ | 13,305 | |||||||||||||||
A current member of our board of directors is currently a minority shareholder of Custom Healthcare Systems (“CHS”), an assembler and packager of Class 1 medical products. CHS is a supplier to our AVID facility located in Toano, Virginia for small kits and trays. They also purchase sterile instruments from our facility located in Arden, North Carolina. | |||||||||||||||||
During the three and nine months ended December 31, 2013 and 2012, the amounts sold to and purchased from CHS are as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Sold to CHS | $ | 238 | $ | 215 | $ | 732 | $ | 678 | |||||||||
Purchased from CHS | 414 | 455 | 1,333 | 1,344 | |||||||||||||
The following table represents the amounts due from and due to CHS: | |||||||||||||||||
December 31, | March 31, | ||||||||||||||||
2013 | 2013 | ||||||||||||||||
Due from CHS | $ | 266 | $ | 265 | |||||||||||||
Due to CHS | 57 | 45 | |||||||||||||||
Note_6_Goodwill_and_Other_Inta
Note 6 - Goodwill and Other Intangible Assets | 9 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||
Intangible Assets Disclosure [Text Block] | ' | ||||||||||||
Note 6. Goodwill and Other Intangible Assets | |||||||||||||
During the nine months ended December 31, 2013, there was no change in the carrying amount of goodwill. | |||||||||||||
The Company tests its goodwill and intangible assets with indefinite lives as of December 31 of each year and on an interim date should factors or indicators become apparent that would require an interim test. The Company assesses the impairment of its goodwill by determining its fair value and comparing the fair value to its carrying value. For determining fair value, the Company has determined that it operates under one reporting unit. | |||||||||||||
As of December 31, 2013, the Company’s annual impairment test concluded that the fair value of the Company exceeded its carrying value and was not impaired. | |||||||||||||
During fiscal 2013, the preliminary impairment analysis conducted at December 31, 2012, concluded that $78,609 of goodwill was impaired and was recorded in the condensed consolidated statements of operations for the three and nine months ended December 31, 2012. Due to the complexity of the analysis which involves completion of fair value analyses and the resolution of certain significant assumptions, we finalized this goodwill impairment charge in the fourth quarter of fiscal 2013, which resulted in an $829 reduction to the preliminary goodwill impairment charge recorded at December 31, 2012. The Company had not previously recorded impairments of goodwill and therefore the amounts of impairment recorded during the three and nine months ended December 31, 2012 represented the cumulative amount of goodwill impairment charges as of December 31, 2013. | |||||||||||||
The Company's annual assessment of its intangible assets with indefinite lives, which consist of certain trademarks totaling $1,266, indicated that there was no impairment of such assets as of December 31, 2013. | |||||||||||||
At December 31, 2013, other intangible assets consisted of the following: | |||||||||||||
Gross Carrying | Accumulated | Total Net | |||||||||||
Value | Amortization | Book Value | |||||||||||
Trademarks/tradenames not subject to amortization | $ | 1,266 | $ | - | $ | 1,266 | |||||||
Trademarks subject to amortization (5 years) | 2,100 | 1,400 | 700 | ||||||||||
Customer relationships (20 years) | 43,200 | 10,547 | 32,653 | ||||||||||
Intellectual property (7 years) | 400 | 400 | - | ||||||||||
Total other intangible assets, net | $ | 46,966 | $ | 12,347 | $ | 34,619 | |||||||
At March 31, 2013, other intangible assets consisted of the following: | |||||||||||||
Gross Carrying | Accumulated | Total Net | |||||||||||
Value | Amortization | Book Value | |||||||||||
Trademarks/tradenames not subject to amortization | $ | 1,266 | $ | - | $ | 1,266 | |||||||
Trademarks subject to amortization (5 years) | 2,100 | 1,085 | 1,015 | ||||||||||
Customer relationships (20 years) | 43,200 | 8,927 | 34,273 | ||||||||||
Intellectual property (7 years) | 400 | 368 | 32 | ||||||||||
Total other intangible assets, net | $ | 46,966 | $ | 10,380 | $ | 36,586 | |||||||
We recorded amortization expense related to the above amortizable intangible assets of $648 and $659 for the three months ended December 31, 2013 and 2012, respectively, and $1,967 and $1,978 for the nine months ended December 31, 2013 and 2012, respectively. The estimated aggregate amortization expense for each of the succeeding years ending December 31, is as follows: | |||||||||||||
Fiscal Year | Amount | ||||||||||||
2014 | $ | 2,580 | |||||||||||
2015 | 2,440 | ||||||||||||
2016 | 2,160 | ||||||||||||
2017 | 2,160 | ||||||||||||
2018 | 2,160 | ||||||||||||
$ | 11,500 | ||||||||||||
Note_7_Credit_Facilities_and_L
Note 7 - Credit Facilities and Long-Term Debt | 9 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt Disclosure [Text Block] | ' | ||||||||
Note 7. Credit Facilities and Long-Term Debt | |||||||||
Long-term debt consists of the following: | |||||||||
December 31, | March 31, | ||||||||
2013 | 2013 | ||||||||
Revolving credit loan | $ | 30,911 | $ | 4,700 | |||||
Term loan | 10,547 | 48,000 | |||||||
Total outstanding | $ | 41,458 | $ | 52,700 | |||||
Less: current portion | 1,644 | 1,370 | |||||||
Total long-term debt | $ | 39,814 | $ | 51,330 | |||||
On June 7, 2012, we entered into the Second Amended and Restated Credit Agreement (the “Prior Credit Agreement”) with certain lenders and JPMorgan Chase Bank, N.A. acting as administrative agent for the lenders. The Prior Credit Agreement provided us with total borrowings of up to $76,000, consisting of (1) a secured term loan with a principal amount of $51,000 and (2) a secured revolving credit facility, which amounts could have been borrowed, repaid and re-borrowed up to $25,000. Both the term loan and the revolving credit facility bore interest at LIBOR plus 4% under the terms of the Prior Credit Agreement. | |||||||||
On May 17, 2013, we entered into a credit agreement (the “New Credit Agreement”), among ourselves, as borrower and Wells Fargo Bank, National Association, as administrative agent and lender. The New Credit Agreement provides for a maximum borrowing capacity of $65,000 consisting of the following loans: (1) a $11,505 secured term loan (the “Term Loan”) with $10,547 outstanding at December 31, 2013, (2) $5,000 in secured delayed draw term loans (collectively, the “Delayed Draw Term Loans”) which had not been drawn upon by us at December 31, 2013 and (3) up to $53,495 in revolving loans (collectively, the “Revolving Loans”), with $30,911 outstanding at December 31, 2013, which Revolving Loans may be reduced by the amount of any outstanding Delayed Draw Term Loans drawn by us. The proceeds from the New Credit Agreement were used to repay and cancel all amounts due under the Prior Credit Agreement. The balance sheet classification of our debt at March 31, 2013 is based on the maturity terms of the New Credit Agreement. For further information, refer to note 7, Long-Term Debt, in our consolidated financial statements and footnotes thereto included in our 2013 Annual Report on Form 10-K. | |||||||||
The Revolving Loans will be used to finance our working capital needs and general corporate purposes and for permitted acquisitions. The Term Loan and Revolving Loan mature on May 17, 2018. The commitments, with respect to the Delayed Draw Term Loans, terminate on May 17, 2015 and any Delayed Draw Term Loans drawn by us also mature on May 17, 2015. The Term Loan amortizes in consecutive monthly installments, each in the principal amount of $137, commencing June 1, 2013. Any Delayed Draw Term Loan drawn by us will amortize in consecutive monthly installments, each in the principal amount equal to the result of (1) the original principal amount of such Delayed Draw Term Loan divided by (2) the number of months remaining from the date the Delayed Draw Term Loan was drawn until May 17, 2015. Any undrawn commitments under the Delayed Draw Term Loans are reduced by $208 on each calendar month, commencing June 1, 2013. | |||||||||
Term Loans outstanding under the New Credit Agreement bear interest at a rate per annum equal to, at our election, (1) LIBOR Rate (as defined in the New Credit Agreement) plus a margin ranging from 2.50% to 3.00%, depending on the Average Excess Availability (as defined in the New Credit Agreement) at the time of calculation, or (2) Base Rate (as defined in the New Credit Agreement) plus a margin ranging from 1.50% to 2.00%, depending on the Average Excess Availability at the time of calculation. Revolving Loans outstanding under the New Credit Agreement will bear interest at a rate per annum equal to, at our election (1) LIBOR Rate plus a margin ranging from 2.00% to 2.50%, depending on the Average Excess Availability at the time of calculation, or (2) Base Rate plus a margin ranging from 1.00% to 1.50%, depending on the Average Excess Availability at the time of calculation. Additionally, we are required to pay an unused line fee at a rate per annum ranging from 0.375% to 0.50% on the daily unused amount of the Revolving Loan commitments of the Lender during the period for which the payment is made, payable monthly in arrears. If drawn, Delayed Draw Term Loans outstanding under the New Credit Agreement will bear interest at a rate per annum equal to, at our election (1) LIBOR Rate plus a margin ranging from 4.25% to 4.75%, depending on the Average Excess Availability at the time of calculation, or (2) Base Rate plus a margin ranging from 3.25% to 3.75%, depending on the Average Excess Availability at the time of calculation. | |||||||||
The average interest rate on the Term Loans under the New Credit Agreement and term loans under the Prior Credit Agreement approximated 4.17% and 4.13% during the nine months ended December 31, 2013 and 2012, respectively. The average interest rate on the Revolving Loans under the New Credit Agreement and the revolving loans under the Prior Credit Agreement approximated 3.71% and 4.69% during the nine months ended December 31, 2013 and 2012, respectively. As of December 31, 2013, our availability for the Revolving Loans under the New Credit Agreement was $18,872 and we were in compliance with all applicable covenants under the New Credit Agreement. | |||||||||
Note_8_StockBased_Compensation
Note 8 - Stock-Based Compensation Plans | 9 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||
Note 8. Stock-Based Compensation Plans | |||||||||||||||||
We have various stock-based compensation plans and recognized stock-based compensation (exclusive of deferred tax benefits) for awards granted under our stock-based compensation plans in the following line items in the Condensed Consolidated Statements of Operations: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Cost of sales | $ | 6 | $ | 16 | $ | 24 | $ | 43 | |||||||||
Selling, general and administrative expenses | 239 | 247 | 824 | 745 | |||||||||||||
Stock-based compensation expense before income tax benefits | $ | 245 | $ | 263 | $ | 848 | $ | 788 | |||||||||
We granted 473,500 stock options to employees during the nine months ended December 31, 2013, which vest 25% during fiscal 2016, 25% during fiscal 2017 and 50% during fiscal 2018. The options expire 10 years from the date of grant and have a weighted average exercise price equal to $8.13 per share, have a weighted average remaining contractual term of 9.4 years and weighted average grant date fair value of $4.44 per share determined based upon a Black-Scholes option valuation model. In addition to the above employee stock option grants, we granted 37,500 stock options to members of our Board of Directors during the nine months ended December 31, 2013, which became fully vested upon issuance. These options have a weighted average exercise price equal to $6.35 per share, have a weighted average remaining contractual term of 9.6 years and a weighted average grant date fair value of $3.59 per share based upon a Black-Scholes option valuation model. | |||||||||||||||||
The Company granted 257,500 stock options to employees during the nine months ended December 31, 2012, which vest 25% during fiscal 2015, 25% during fiscal 2016 and 50% during fiscal 2017. The options expire 10 years from date of grant and have a weighted average exercise price equal to $3.61, have a weighted average remaining contractual term of 8.6 years and weighted average grant date fair value of $2.01 per share determined based upon a Black-Scholes option valuation model. In addition to the above employee stock option grants, we granted 67,500 stock options to members of our Board of Directors during the nine months ended December 31, 2012, of which 7,500 were granted during the three months ended December 31, 2012 and became fully vested upon issuance. These options have a weighted average exercise price equal to $3.46 per share, have a weighted average remaining contractual term of 8.6 years and a weighted average grant date fair value of $1.92 per share based upon a Black-Scholes option valuation model. | |||||||||||||||||
The fair value of stock options on the date of grant and the weighted average assumptions used to estimate the fair value of the stock options granted during the respective periods using the Black-Scholes option valuation model were as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Dividend yield | n/a | n/a | n/a | n/a | |||||||||||||
Weighted-average expected volatility | n/a | 60.2 | % | 63.02 | % | 63.4 | % | ||||||||||
Risk-free interest rate | n/a | 1.6 | % | 1.04 | % | 1.6 | % | ||||||||||
Expected life of options (in years) | n/a | 5.3 | 5.37 | 5.3 | |||||||||||||
Fair value of options granted | n/a | $ | 1.4 | $ | 4.37 | $ | 1.99 | ||||||||||
The following is a summary of the changes in outstanding options for all of our plans during the nine months ended December 31, 2013: | |||||||||||||||||
Shares | Weighted | Remaining | Aggregate | ||||||||||||||
Average | Weighted | Intrinsic Value | |||||||||||||||
Exercise Price | Average | ||||||||||||||||
Contract | |||||||||||||||||
Life (Years) | |||||||||||||||||
Outstanding at April 1, 2013 | 1,479,000 | $ | 10.8 | 5.6 | $ | 793 | |||||||||||
Granted | 511,000 | $ | 8 | - | - | ||||||||||||
Exercised | - | $ | - | - | - | ||||||||||||
Expired/Forfeited | (192,750 | ) | $ | 8.55 | - | - | |||||||||||
Outstanding at December 31, 2013 | 1,797,250 | $ | 10.22 | 6.3 | $ | 1,706 | |||||||||||
Exercisable at December 31, 2013 | 1,026,250 | $ | 12.25 | 4.4 | $ | 572 | |||||||||||
Vested and Expected to vest as of December 31, 2013 | 1,693,689 | $ | 10.41 | 6.1 | $ | 1,583 | |||||||||||
No options were exercised during the nine months ended December 31, 2013. As of December 31, 2013, there was approximately $3,171 of unrecognized compensation costs related to non-vested share-based compensation arrangements granted under our plans and that cost is expected to be recognized over a period of 2.2 years. | |||||||||||||||||
The following is a summary of the changes in non-vested stock options for the nine months ended December 31, 2013: | |||||||||||||||||
Shares | Average Grant | ||||||||||||||||
Date Fair Value | |||||||||||||||||
Outstanding at April 1, 2013 | 540,063 | $ | 4.09 | ||||||||||||||
Granted | 511,000 | $ | 4.37 | ||||||||||||||
Vested | (210,063 | ) | $ | 5.04 | |||||||||||||
Forfeited | (70,000 | ) | $ | 2.91 | |||||||||||||
Outstanding at December 31, 2013 | 771,000 | $ | 4.11 | ||||||||||||||
Grants of restricted stock are common stock awards granted to recipients with specified vesting provisions. The restricted stock issued vests based upon the recipients continued service over time (five-year vesting period). We estimate the fair value of restricted stock based on our closing stock price on the date of grant. | |||||||||||||||||
The following is a summary of restricted stock activity in our 1994 Stock Incentive Plan for the nine months ended December 31, 2013: | |||||||||||||||||
Shares | Weighted Average | ||||||||||||||||
Grant Price | |||||||||||||||||
Outstanding at April 1, 2013 | 5,625 | $ | 12.58 | ||||||||||||||
Granted | - | $ | - | ||||||||||||||
Vested | (1,875 | ) | $ | 12.58 | |||||||||||||
Expired/forfeited | - | $ | - | ||||||||||||||
Outstanding at December 31, 2013 | 3,750 | $ | 12.58 | ||||||||||||||
Expected to vest as of December 31, 2013 | 3,442 | $ | 12.58 | ||||||||||||||
Note_9_Income_Taxes
Note 9 - Income Taxes | 9 Months Ended |
Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
Note 9. Income Taxes | |
Our provision for income taxes consists of federal, state and local taxes in amounts necessary to align our year-to-date provision for income taxes with the effective tax rate that we expect to achieve for the full year. Our annual effective tax rate for Fiscal 2014, excluding discrete items, is estimated to be 36.6% based upon our anticipated earnings. | |
For the nine months ended December 31, 2013, we recorded a provision for income taxes of $1,917, which consisted of federal, state and local taxes, including discrete items of $13 related to the accrual of interest for uncertain tax positions under ASC 740 – Income Taxes. For the nine months ended December 31, 2012, we recorded a tax benefit of $21,098. | |
The effective tax rate, including the discrete item, for the nine months ended December 31, 2013 was a provision for income taxes of 36.8% compared to a benefit for income taxes of 27.5% in the comparable prior period. The effective tax rate for the nine months ended December 31, 2013 is different than the statutory rate primarily due to the tax effect of non-deductible expenses, the Section 199 manufacturing deduction and state and local taxes. | |
The Company recorded an income tax benefit of $21,053 for the three months ended December 31, 2012 which resulted in an effective tax rate of 27.5% and an income tax benefit of $21,098 for the nine months ended December 31, 2012 which resulted in an effective tax rate of 27.5%. Each of these periods reflects a $78,609 goodwill impairment charge that resulted in a $21,761 discrete tax benefit associated with the portion of the Company’s goodwill that is deductible for income taxes. That discrete tax benefit was reflected as a reduction to our deferred income tax liabilities. The effective tax rate of 27.7% for this benefit was less than the federal statutory rate of 35.0%, primarily due to a portion of the goodwill impairment charge that was not deductible for income tax purposes. | |
Note_10_Earnings_Loss_Per_Shar
Note 10 - Earnings (Loss) Per Share | 9 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||||||
Note 10. Earnings (Loss) Per Share | |||||||||||||||||
Basic earnings (loss) per share are based on the weighted average number of common shares outstanding without consideration of potential common shares. Diluted earnings (loss) per share are based on the weighted average number of common and potential common shares outstanding. The calculation takes into account the shares that may be issued upon exercise of stock options, reduced by the shares that may be repurchased with the funds received from the exercise, based on the average prices during the periods. Excluded from the calculation of earnings (loss) per share are options to purchase 1,478,500 shares and 1,414,695 shares for the three and nine months ended December 31, 2013, respectively, and 1,510,875 shares for both the three and nine months ended December 31, 2012, respectively, as their inclusion would not have been dilutive. | |||||||||||||||||
The following is a reconciliation of the numerator and denominator of the basic and diluted net earnings (loss) per share computations for the three and nine months ended December 31, 2013 and 2012, respectively. | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Numerator : | |||||||||||||||||
Net income (loss) for basic and diluted earnings per share | $ | 1,911 | $ | (55,503 | ) | $ | 3,288 | $ | (55,575 | ) | |||||||
Denominator : | |||||||||||||||||
Denominator for basic earnings (loss) per share - weighted average shares outstanding (in thousands) | 16,391 | 16,391 | 16,391 | 16,391 | |||||||||||||
Effect of dilutive securities: | |||||||||||||||||
Employee and director stock options (in thousands) | 77 | - | 73 | - | |||||||||||||
Denominator for diluted earnings per share - adjusted weighted average shares outstanding (in thousands) | 16,468 | 16,391 | 16,464 | 16,391 | |||||||||||||
Earnings (loss) per share: | |||||||||||||||||
Basic | |||||||||||||||||
Net income (loss) | $ | 0.12 | $ | (3.39 | ) | $ | 0.2 | $ | (3.39 | ) | |||||||
Diluted | |||||||||||||||||
Net income (loss) | $ | 0.12 | $ | (3.39 | ) | $ | 0.2 | $ | (3.39 | ) | |||||||
Note_11_Accounts_Payable_and_A
Note 11 - Accounts Payable and Accrued Expenses | 9 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | ' | ||||||||
Note 11. Accounts Payable and Accrued Expenses | |||||||||
Included in accounts payable as of December 31, 2013 and March 31, 2013 are book cash overdrafts of $5,160 and $5,372, respectively. | |||||||||
Accrued expenses consist of the following: | |||||||||
December 31, | March 31, | ||||||||
2013 | 2013 | ||||||||
Accrued accounts payable | $ | 5,357 | $ | 7,488 | |||||
Accrued bonuses | 3,316 | 1,825 | |||||||
Employee compensation and benefits | 2,974 | 3,022 | |||||||
Other accrued liabilities | 2,295 | 1,887 | |||||||
Accrued distributor fees | 2,107 | 3,608 | |||||||
Group purchasing organization fees | 1,907 | 1,569 | |||||||
Freight and duty | 943 | 1,270 | |||||||
Professional fees | 707 | 1,178 | |||||||
Commissions | 552 | 768 | |||||||
Book cash overdraft | - | 2,491 | |||||||
Total accrued expenses | $ | 20,158 | $ | 25,106 | |||||
Note_12_Fair_Value_of_Financia
Note 12 - Fair Value of Financial Instruments | 9 Months Ended |
Dec. 31, 2013 | |
Disclosure Text Block Supplement [Abstract] | ' |
Financial Instruments Disclosure [Text Block] | ' |
Note 12. Fair Value of Financial Instruments | |
ASC 820 – Fair Value Measurements and Disclosures defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 also establishes a fair value hierarchy that prioritizes the inputs used in valuation methodologies into three levels: | |
Level 1: Quoted prices in active markets for identical assets or liabilities. | |
Level 2: Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | |
Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |
Due to their maturities and/or variable interest rates, certain financial instruments have fair values that approximate their carrying values. These instruments include cash, accounts receivable, trade payables and our outstanding debt under our term loan and revolving credit facility. The book value and the fair value of our capital lease obligation were $13,518 and $17,580, respectively as of December 31, 2013. The fair value was determined based on our current incremental borrowing rate and is considered a Level 3 input. | |
Note_13_Business_Concentration
Note 13 - Business Concentrations and Major Customers | 9 Months Ended |
Dec. 31, 2013 | |
Risks and Uncertainties [Abstract] | ' |
Concentration Risk Disclosure [Text Block] | ' |
Note 13. Business Concentrations and Major Customers | |
We manufacture and distribute disposable medical products principally to medical product distributors and hospitals located throughout the United States. We perform credit evaluations of our customers’ financial condition and do not require collateral. Receivables are generally due within 30 – 90 days. Credit losses relating to customers have historically been minimal and within management’s expectations. | |
Sales to Owens & Minor, Inc. and Cardinal Health Inc., (the “Distributors”) accounted for approximately 41% and 21% of net sales, respectively, for the nine months ended December 31, 2013. Although the Distributors may be deemed in a technical sense to be major purchasers of our products, they typically serve as a distributor between the end user and ourselves and do not make significant purchases for their own account. We, therefore, do not believe it is appropriate to categorize the Distributors as customers for the purpose of evaluating concentrations. | |
A significant portion of our raw materials are purchased from China, which gives rise to risk from changes in foreign currency exchange rates between the Chinese Yuan and the U.S. Dollar. To mitigate our exposure to this risk, we attempt to denominate our transactions in foreign locations in U.S. Dollars. While all of such purchases are denominated in U.S. Dollars, to the extent that the U.S. Dollar decreases in value relative to the Chinese Yuan, our cost of sales may increase and our gross profit may decrease. We do not currently hold or issue foreign exchange contracts or other derivative instruments to hedge these exposures. | |
Note_14_Business_Segments_and_
Note 14 - Business Segments and Other Financial Information | 9 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||||||
Note 14. Business Segments and Other Financial Information | |||||||||||||||||
The Company operates in one reportable segment, disposable medical products. | |||||||||||||||||
Net sales by product line for the applicable years noted were as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Clinical Care Market Sales | $ | 72,436 | $ | 72,840 | $ | 214,775 | $ | 215,075 | |||||||||
Patient Care Market Sales | 40,995 | 39,986 | 119,975 | 128,240 | |||||||||||||
Sales Related Adjustments | (3,464 | ) | (3,427 | ) | (9,279 | ) | (9,579 | ) | |||||||||
Total Net Sales | $ | 109,967 | $ | 109,399 | $ | 325,471 | $ | 333,736 | |||||||||
A summary of our net sales by geographic region is as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
United States | $ | 107,976 | $ | 107,310 | $ | 319,513 | $ | 327,124 | |||||||||
Canada | 995 | 1,064 | 3,261 | 3,113 | |||||||||||||
Other International (1) | 996 | 1,025 | 3,697 | 3,499 | |||||||||||||
Total Net Sales | $ | 109,967 | $ | 109,399 | $ | 325,471 | $ | 333,736 | |||||||||
(1) Comprised primarily of Brazil and China. | |||||||||||||||||
All of the Company’s long-lived assets are located in the United States. | |||||||||||||||||
Note_15_Other_Matters
Note 15 - Other Matters | 9 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
Note 15. Other Matters | |
We are a party to a lawsuit arising out of the conduct of our ordinary course of business. It is covered by insurance and while the result of such lawsuit cannot be predicted with certainty, management does not expect that the ultimate liability, if any, will have a material adverse effect on our financial position or results of operations. | |
Our Tennessee facility, which is comprised of approximately 25 acres in a light industrial park located in Gallaway, Tennessee, was acquired by Medegen Medical Products, LLC (“Medegen”) in 1999 prior to our ownership of Medegen. In connection with an environmental due diligence evaluation of the facility prior to its acquisition by Medegen, consultants detected the presence of chlorinated solvents in groundwater beneath the manufacturing plant. The identified groundwater contamination is in the process of being remediated. At the time of our acquisition of Medegen, the prior owner of the facility agreed to retain responsibility for the remediation of the contamination and to fully indemnify us for all costs associated with the environmental remediation as well as any claims that might arise, including third party claims. Under an agreement executed at the time of the sale, VGI, LLC, a successor in interest to Vollrath Group, Inc. and its parent Windway Capital Corp. (collectively, “Indemnitor”) are required, on a quarterly basis, to provide documentation from independent parties confirming that the Indemnitor has sufficient assets, in the form of unencumbered, unrestricted cash, marketable securities or unused and available borrowing capacity, as necessary to pay the most recently estimated costs of outstanding environmental remediation obligations. Now that full-scale remediation is underway at the site, the Indemnitor is also required to provide Letters of Credit (“LC”) to secure its current and future obligations, including a $2,000 LC that is currently open and future LCs in the amount of $1,000 from December 7, 2014 through December 7, 2017. No assurance can be given that the Indemnitor will have the financial resources necessary to complete the environmental remediation and/or defend any claims that may arise, that recommended cleanup levels will be achieved over the long term, or that further remedial activities will not be required. As of December 31, 2013, we have recorded an estimated liability of $4,200 to remediate the groundwater contamination and a corresponding amount due from the Indemnitor. | |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Use of Estimates, Policy [Policy Text Block] | ' |
The preparation of consolidated annual and quarterly financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, the disclosure of contingent assets and liabilities at the date of our condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. We have made a number of estimates and assumptions in the preparation of these condensed consolidated financial statements. Actual results may differ from those estimates. Some of the more significant estimates include allowances for trade rebates and doubtful accounts, realizability of inventories, goodwill and other intangible assets, depreciation and amortization of long-lived assets, valuation of deferred tax assets, pensions and other postretirement benefits and environmental and litigation matters. There have been no material changes to our critical accounting policies and estimates from the information provided in Note 1 of the notes to our consolidated financial statements in our Annual Report on Form 10-K for the year ended March 31, 2013. |
Note_4_Inventories_Tables
Note 4 - Inventories (Tables) | 9 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||||
December 31, | March 31, | ||||||||
2013 | 2013 | ||||||||
Finished goods, net | $ | 25,669 | $ | 30,531 | |||||
Raw materials, net | 20,588 | 17,766 | |||||||
Work in progress, net | 6,684 | 4,717 | |||||||
Total inventories, net | $ | 52,941 | $ | 53,014 | |||||
Note_5_Related_Party_Transacti1
Note 5 - Related Party Transactions (Tables) | 9 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Related Party Transactions [Abstract] | ' | ||||||||||||||||
Schedule of Capital Leased Assets [Table Text Block] | ' | ||||||||||||||||
December 31, | March 31, | ||||||||||||||||
2013 | 2013 | ||||||||||||||||
Capital lease, gross | $ | 11,409 | $ | 11,409 | |||||||||||||
Less: Accumulated amortization | (2,046 | ) | (1,586 | ) | |||||||||||||
Capital lease, net | $ | 9,363 | $ | 9,823 | |||||||||||||
Schedule of Amortization Expense Capital Lease [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Amortization Expense included in: | |||||||||||||||||
Cost of sales | $ | 35 | $ | 35 | $ | 106 | $ | 106 | |||||||||
Selling, general and administrative expenses | 118 | 119 | 354 | 355 | |||||||||||||
Total | $ | 153 | $ | 154 | $ | 460 | $ | 461 | |||||||||
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | ' | ||||||||||||||||
Capital Lease | |||||||||||||||||
Payments | |||||||||||||||||
Balance of Fiscal 2014 | $ | 380 | |||||||||||||||
2015 | 1,549 | ||||||||||||||||
2016 | 1,580 | ||||||||||||||||
2017 | 1,611 | ||||||||||||||||
2018 | 1,643 | ||||||||||||||||
Thereafter | 20,398 | ||||||||||||||||
Total minimum lease payments | 27,161 | ||||||||||||||||
Less: Amounts representing interest | 13,643 | ||||||||||||||||
Present value of minimum lease payments | 13,518 | ||||||||||||||||
Less: Current portion of capital lease obligation | 213 | ||||||||||||||||
Long-term portion of capital lease obligation | $ | 13,305 | |||||||||||||||
Schedule of Related Party Transactions [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Sold to CHS | $ | 238 | $ | 215 | $ | 732 | $ | 678 | |||||||||
Purchased from CHS | 414 | 455 | 1,333 | 1,344 | |||||||||||||
Schedule of Related Party Due To Due From [Table Text Block] | ' | ||||||||||||||||
December 31, | March 31, | ||||||||||||||||
2013 | 2013 | ||||||||||||||||
Due from CHS | $ | 266 | $ | 265 | |||||||||||||
Due to CHS | 57 | 45 |
Note_6_Goodwill_and_Other_Inta1
Note 6 - Goodwill and Other Intangible Assets (Tables) | 9 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | ||||||||||||
Gross Carrying | Accumulated | Total Net | |||||||||||
Value | Amortization | Book Value | |||||||||||
Trademarks/tradenames not subject to amortization | $ | 1,266 | $ | - | $ | 1,266 | |||||||
Trademarks subject to amortization (5 years) | 2,100 | 1,400 | 700 | ||||||||||
Customer relationships (20 years) | 43,200 | 10,547 | 32,653 | ||||||||||
Intellectual property (7 years) | 400 | 400 | - | ||||||||||
Total other intangible assets, net | $ | 46,966 | $ | 12,347 | $ | 34,619 | |||||||
Gross Carrying | Accumulated | Total Net | |||||||||||
Value | Amortization | Book Value | |||||||||||
Trademarks/tradenames not subject to amortization | $ | 1,266 | $ | - | $ | 1,266 | |||||||
Trademarks subject to amortization (5 years) | 2,100 | 1,085 | 1,015 | ||||||||||
Customer relationships (20 years) | 43,200 | 8,927 | 34,273 | ||||||||||
Intellectual property (7 years) | 400 | 368 | 32 | ||||||||||
Total other intangible assets, net | $ | 46,966 | $ | 10,380 | $ | 36,586 | |||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | ||||||||||||
Fiscal Year | Amount | ||||||||||||
2014 | $ | 2,580 | |||||||||||
2015 | 2,440 | ||||||||||||
2016 | 2,160 | ||||||||||||
2017 | 2,160 | ||||||||||||
2018 | 2,160 | ||||||||||||
$ | 11,500 | ||||||||||||
Note_7_Credit_Facilities_and_L1
Note 7 - Credit Facilities and Long-Term Debt (Tables) | 9 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||||
December 31, | March 31, | ||||||||
2013 | 2013 | ||||||||
Revolving credit loan | $ | 30,911 | $ | 4,700 | |||||
Term loan | 10,547 | 48,000 | |||||||
Total outstanding | $ | 41,458 | $ | 52,700 | |||||
Less: current portion | 1,644 | 1,370 | |||||||
Total long-term debt | $ | 39,814 | $ | 51,330 | |||||
Note_8_StockBased_Compensation1
Note 8 - Stock-Based Compensation Plans (Tables) | 9 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Cost of sales | $ | 6 | $ | 16 | $ | 24 | $ | 43 | |||||||||
Selling, general and administrative expenses | 239 | 247 | 824 | 745 | |||||||||||||
Stock-based compensation expense before income tax benefits | $ | 245 | $ | 263 | $ | 848 | $ | 788 | |||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Dividend yield | n/a | n/a | n/a | n/a | |||||||||||||
Weighted-average expected volatility | n/a | 60.2 | % | 63.02 | % | 63.4 | % | ||||||||||
Risk-free interest rate | n/a | 1.6 | % | 1.04 | % | 1.6 | % | ||||||||||
Expected life of options (in years) | n/a | 5.3 | 5.37 | 5.3 | |||||||||||||
Fair value of options granted | n/a | $ | 1.4 | $ | 4.37 | $ | 1.99 | ||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||
Shares | Weighted | Remaining | Aggregate | ||||||||||||||
Average | Weighted | Intrinsic Value | |||||||||||||||
Exercise Price | Average | ||||||||||||||||
Contract | |||||||||||||||||
Life (Years) | |||||||||||||||||
Outstanding at April 1, 2013 | 1,479,000 | $ | 10.8 | 5.6 | $ | 793 | |||||||||||
Granted | 511,000 | $ | 8 | - | - | ||||||||||||
Exercised | - | $ | - | - | - | ||||||||||||
Expired/Forfeited | (192,750 | ) | $ | 8.55 | - | - | |||||||||||
Outstanding at December 31, 2013 | 1,797,250 | $ | 10.22 | 6.3 | $ | 1,706 | |||||||||||
Exercisable at December 31, 2013 | 1,026,250 | $ | 12.25 | 4.4 | $ | 572 | |||||||||||
Vested and Expected to vest as of December 31, 2013 | 1,693,689 | $ | 10.41 | 6.1 | $ | 1,583 | |||||||||||
Schedule of Nonvested Share Activity [Table Text Block] | ' | ||||||||||||||||
Shares | Average Grant | ||||||||||||||||
Date Fair Value | |||||||||||||||||
Outstanding at April 1, 2013 | 540,063 | $ | 4.09 | ||||||||||||||
Granted | 511,000 | $ | 4.37 | ||||||||||||||
Vested | (210,063 | ) | $ | 5.04 | |||||||||||||
Forfeited | (70,000 | ) | $ | 2.91 | |||||||||||||
Outstanding at December 31, 2013 | 771,000 | $ | 4.11 | ||||||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||||||||
Shares | Weighted Average | ||||||||||||||||
Grant Price | |||||||||||||||||
Outstanding at April 1, 2013 | 5,625 | $ | 12.58 | ||||||||||||||
Granted | - | $ | - | ||||||||||||||
Vested | (1,875 | ) | $ | 12.58 | |||||||||||||
Expired/forfeited | - | $ | - | ||||||||||||||
Outstanding at December 31, 2013 | 3,750 | $ | 12.58 | ||||||||||||||
Expected to vest as of December 31, 2013 | 3,442 | $ | 12.58 | ||||||||||||||
Note_10_Earnings_Loss_Per_Shar1
Note 10 - Earnings (Loss) Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Numerator : | |||||||||||||||||
Net income (loss) for basic and diluted earnings per share | $ | 1,911 | $ | (55,503 | ) | $ | 3,288 | $ | (55,575 | ) | |||||||
Denominator : | |||||||||||||||||
Denominator for basic earnings (loss) per share - weighted average shares outstanding (in thousands) | 16,391 | 16,391 | 16,391 | 16,391 | |||||||||||||
Effect of dilutive securities: | |||||||||||||||||
Employee and director stock options (in thousands) | 77 | - | 73 | - | |||||||||||||
Denominator for diluted earnings per share - adjusted weighted average shares outstanding (in thousands) | 16,468 | 16,391 | 16,464 | 16,391 | |||||||||||||
Earnings (loss) per share: | |||||||||||||||||
Basic | |||||||||||||||||
Net income (loss) | $ | 0.12 | $ | (3.39 | ) | $ | 0.2 | $ | (3.39 | ) | |||||||
Diluted | |||||||||||||||||
Net income (loss) | $ | 0.12 | $ | (3.39 | ) | $ | 0.2 | $ | (3.39 | ) | |||||||
Note_11_Accounts_Payable_and_A1
Note 11 - Accounts Payable and Accrued Expenses (Tables) | 9 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | ||||||||
December 31, | March 31, | ||||||||
2013 | 2013 | ||||||||
Accrued accounts payable | $ | 5,357 | $ | 7,488 | |||||
Accrued bonuses | 3,316 | 1,825 | |||||||
Employee compensation and benefits | 2,974 | 3,022 | |||||||
Other accrued liabilities | 2,295 | 1,887 | |||||||
Accrued distributor fees | 2,107 | 3,608 | |||||||
Group purchasing organization fees | 1,907 | 1,569 | |||||||
Freight and duty | 943 | 1,270 | |||||||
Professional fees | 707 | 1,178 | |||||||
Commissions | 552 | 768 | |||||||
Book cash overdraft | - | 2,491 | |||||||
Total accrued expenses | $ | 20,158 | $ | 25,106 | |||||
Note_14_Business_Segments_and_1
Note 14 - Business Segments and Other Financial Information (Tables) | 9 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Summary of Net Sales by Product Line [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Clinical Care Market Sales | $ | 72,436 | $ | 72,840 | $ | 214,775 | $ | 215,075 | |||||||||
Patient Care Market Sales | 40,995 | 39,986 | 119,975 | 128,240 | |||||||||||||
Sales Related Adjustments | (3,464 | ) | (3,427 | ) | (9,279 | ) | (9,579 | ) | |||||||||
Total Net Sales | $ | 109,967 | $ | 109,399 | $ | 325,471 | $ | 333,736 | |||||||||
Summary of Net Sales by Geographic Region [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
United States | $ | 107,976 | $ | 107,310 | $ | 319,513 | $ | 327,124 | |||||||||
Canada | 995 | 1,064 | 3,261 | 3,113 | |||||||||||||
Other International (1) | 996 | 1,025 | 3,697 | 3,499 | |||||||||||||
Total Net Sales | $ | 109,967 | $ | 109,399 | $ | 325,471 | $ | 333,736 | |||||||||
Note_1_Basis_of_Presentation_D
Note 1 - Basis of Presentation (Details) (USD $) | 9 Months Ended | 3 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | |
Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | |||
Previously Classifed As Operating Activities [Member] | Previously Classifed As Operating Activities [Member] | |||
Understatement [Member] | ||||
Note 1 - Basis of Presentation (Details) [Line Items] | ' | ' | ' | ' |
Debt Issuance Cost | ' | ' | ' | $1,018 |
Net Cash Provided by (Used in) Operating Activities | 13,207,000 | 17,505,000 | 1,018 | ' |
Payments of Debt Issuance Costs | $1,137 | ' | ' | ' |
Note_4_Inventories_Details
Note 4 - Inventories (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Inventory Valuation Reserves | $1,782 | $1,091 |
Note_4_Inventories_Details_Inv
Note 4 - Inventories (Details) - Inventories Stated at Lower of Cost or Market (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Inventories Stated at Lower of Cost or Market [Abstract] | ' | ' |
Finished goods, net | $25,669 | $30,531 |
Raw materials, net | 20,588 | 17,766 |
Work in progress, net | 6,684 | 4,717 |
Total inventories, net | $52,941 | $53,014 |
Note_5_Related_Party_Transacti2
Note 5 - Related Party Transactions (Details) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 5 - Related Party Transactions (Details) [Line Items] | ' | ' | ' | ' | ' |
Capital Lease, Monthly Payment | ' | ' | $127 | ' | ' |
Increment In Capital Lease Payments Per Year | ' | ' | 2.00% | ' | ' |
Lease Expiration Date | ' | ' | 31-Mar-29 | ' | ' |
Effective Rate On Capital Lease Obligation | ' | ' | 9.90% | ' | ' |
Capital Leases, Income Statement, Interest Expense | $334 | $338 | ' | $1,005 | $1,016 |
AVID Facility [Member] | ' | ' | ' | ' | ' |
Note 5 - Related Party Transactions (Details) [Line Items] | ' | ' | ' | ' | ' |
Area Of Manufacturing And Warehouse Building (in Square Feet) | 185,000 | ' | 185,000 | 185,000 | ' |
Area of Land (in Acres) | 12 | ' | 12 | 12 | ' |
Note_5_Related_Party_Transacti3
Note 5 - Related Party Transactions (Details) - Gross and Net Book Value of Assets Under Capital Lease (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Gross and Net Book Value of Assets Under Capital Lease [Abstract] | ' | ' |
Capital lease, gross | $11,409 | $11,409 |
Less: Accumulated amortization | -2,046 | -1,586 |
Capital lease, net | $9,363 | $9,823 |
Note_5_Related_Party_Transacti4
Note 5 - Related Party Transactions (Details) - Amortization Expense Associated with Capital Lease (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Amortization Expense included in: | ' | ' | ' | ' |
Amortization capital leases | $153 | $154 | $460 | $461 |
Cost of Sales [Member] | ' | ' | ' | ' |
Amortization Expense included in: | ' | ' | ' | ' |
Amortization capital leases | 35 | 35 | 106 | 106 |
Selling, General and Administrative Expenses [Member] | ' | ' | ' | ' |
Amortization Expense included in: | ' | ' | ' | ' |
Amortization capital leases | $118 | $119 | $354 | $355 |
Note_5_Related_Party_Transacti5
Note 5 - Related Party Transactions (Details) - Future Minimum Lease Payments Under Capital Lease (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Future Minimum Lease Payments Under Capital Lease [Abstract] | ' | ' |
Balance of Fiscal 2014 | $380 | ' |
2015 | 1,549 | ' |
2016 | 1,580 | ' |
2017 | 1,611 | ' |
2018 | 1,643 | ' |
Thereafter | 20,398 | ' |
Total minimum lease payments | 27,161 | ' |
Less: Amounts representing interest | 13,643 | ' |
Present value of minimum lease payments | 13,518 | ' |
Less: Current portion of capital lease obligation | 213 | 176 |
Long-term portion of capital lease obligation | $13,305 | $13,475 |
Note_5_Related_Party_Transacti6
Note 5 - Related Party Transactions (Details) - Amounts Sold to and Purchased from CHS (Custom Healthcare [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Custom Healthcare [Member] | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' |
Sold to CHS | $238 | $215 | $732 | $678 |
Purchased from CHS | $414 | $455 | $1,333 | $1,344 |
Note_5_Related_Party_Transacti7
Note 5 - Related Party Transactions (Details) - Amounts Due from and Due to CHS (Custom Healthcare [Member], USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Custom Healthcare [Member] | ' | ' |
Note 5 - Related Party Transactions (Details) - Amounts Due from and Due to CHS [Line Items] | ' | ' |
Due from CHS | $266 | $265 |
Due to CHS | $57 | $45 |
Note_6_Goodwill_and_Other_Inta2
Note 6 - Goodwill and Other Intangible Assets (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Disclosure Text Block [Abstract] | ' | ' | ' | ' |
Number of Reportable Segments | ' | ' | 1 | ' |
Goodwill, Impairment Loss (in Dollars) | ' | $78,609 | ' | $78,609 |
Goodwill, Impaired, Adjustment to Initial Estimate Amount | ' | ' | ' | -829 |
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 1,266 | ' | 1,266 | ' |
Amortization of Intangible Assets | $648 | $659 | $1,967 | $1,978 |
Note_6_Goodwill_and_Other_Inta3
Note 6 - Goodwill and Other Intangible Assets (Details) - Other Intangible Assets (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Value | $1,266 | ' |
Total Net Book Value | 1,266 | ' |
Accumulated Amortization | 12,347 | 10,380 |
Gross Carrying Value | 46,966 | 46,966 |
Accumulated Amortization | 12,347 | 10,380 |
Total Net Book Value | 34,619 | 36,586 |
Trademarks/Tradenames not subject to amortization [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Value | 1,266 | 1,266 |
Total Net Book Value | 1,266 | 1,266 |
Trademarks subject to amortization (5 years) [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Value | 2,100 | 2,100 |
Accumulated Amortization | 1,400 | 1,085 |
Total Net Book Value | 700 | 1,015 |
Accumulated Amortization | 1,400 | 1,085 |
Customer Relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Value | 43,200 | 43,200 |
Accumulated Amortization | 10,547 | 8,927 |
Total Net Book Value | 32,653 | 34,273 |
Accumulated Amortization | 10,547 | 8,927 |
Intellectual Property (7 years) [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Value | 400 | 400 |
Accumulated Amortization | 400 | 368 |
Total Net Book Value | ' | 32 |
Accumulated Amortization | $400 | $368 |
Note_6_Goodwill_and_Other_Inta4
Note 6 - Goodwill and Other Intangible Assets (Details) - Estimated Aggregate Future Amortization Expense (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Estimated Aggregate Future Amortization Expense [Abstract] | ' |
2014 | $2,580 |
2015 | 2,440 |
2016 | 2,160 |
2017 | 2,160 |
2018 | 2,160 |
$11,500 |
Note_7_Credit_Facilities_and_L2
Note 7 - Credit Facilities and Long-Term Debt (Details) (USD $) | Jun. 07, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 07, 2012 | Dec. 31, 2013 | 17-May-13 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | 17-May-13 | Dec. 31, 2013 | Dec. 31, 2012 | 17-May-13 | Dec. 31, 2013 | 17-May-13 | Dec. 31, 2013 | Jun. 07, 2012 | Jun. 07, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | LIBOR Rate [Member] | LIBOR Rate [Member] | LIBOR Rate [Member] | LIBOR Rate [Member] | LIBOR Rate [Member] | LIBOR Rate [Member] | Base Rate [Member] | Base Rate [Member] | Base Rate [Member] | Base Rate [Member] | Base Rate [Member] | Base Rate [Member] | "Prior Credit Agreement" [Member] | "New Credit Agreement" [Member] | "New Credit Agreement" [Member] | "New Credit Agreement" [Member] | "New Credit Agreement" [Member] | "New Credit Agreement" [Member] | "New Credit Agreement" [Member] | "New Credit Agreement" [Member] | "New Credit Agreement" [Member] | "New Credit Agreement" [Member] | "New Credit Agreement" [Member] | "New Credit Agreement" [Member] | Secured Term Loan [Member] | Secured Term Loan [Member] | Revolving Credit Facility [Member] | Revolving Loans [Member] | Minimum [Member] | Maximum [Member] | |
Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Secured Term Loan [Member] | Secured Term Loan [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Delayed Draw Term Loans [Member] | Delayed Draw Term Loans [Member] | Revolving Loans [Member] | Revolving Loans [Member] | Revolving Loans [Member] | Revolving Loans [Member] | Revolving Loans [Member] | |||||||||
Secured Term Loan [Member] | Delayed Draw Term Loans [Member] | Revolving Loans [Member] | Secured Term Loan [Member] | Delayed Draw Term Loans [Member] | Revolving Loans [Member] | Secured Term Loan [Member] | Delayed Draw Term Loans [Member] | Revolving Loans [Member] | Secured Term Loan [Member] | Delayed Draw Term Loans [Member] | Revolving Loans [Member] | ||||||||||||||||||||
Note 7 - Credit Facilities and Long-Term Debt (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars) | $76,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11,505 | ' | ' | ' | $5,000 | ' | ' | $53,495 | ' | $65,000 | ' | $51,000 | $25,000 | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | 2.50% | 4.25% | 2.00% | 3.00% | 4.75% | 2.50% | 1.50% | 3.25% | 1.00% | 2.00% | 3.75% | 1.50% | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,547 | ' | ' | 30,911 | ' | ' |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17-May-18 | ' | ' | ' | 17-May-15 | ' | 17-May-18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Periodic Payment, Principal (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 137 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
UndrawnCommitmentsUnderCreditFacilityPeriodicReduction (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 208 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.38% | 0.50% |
Debt Average InterestRate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.17% | ' | 3.71% | ' | ' | ' | ' | 4.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate During Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.69% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Remaining Borrowing Capacity (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $18,872 | ' | ' | ' | ' | ' | ' | ' |
Note_7_Credit_Facilities_and_L3
Note 7 - Credit Facilities and Long-Term Debt (Details) - Components of Long-Term Debt (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Total debt, including current portion | $41,458 | $52,700 |
Less: current portion | 1,644 | 1,370 |
Total long-term debt | 39,814 | 51,330 |
Revolving Credit Facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total debt, including current portion | 30,911 | 4,700 |
Secured Term Loan [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total debt, including current portion | $10,547 | $48,000 |
Note_8_StockBased_Compensation2
Note 8 - Stock-Based Compensation Plans (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2013 | Dec. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Fiscal 2016 [Member] | Fiscal 2016 [Member] | Fiscal 2017 [Member] | Fiscal 2017 [Member] | Fiscal 2018 [Member] | Fiscal 2015 [Member] | Restricted Stock [Member] | Board Of Directors [Member] | Board Of Directors [Member] | Board Of Directors [Member] | Members of the Board of Directors [Member] | Employees [Member] | Employees [Member] | |||||
Employees [Member] | Employees [Member] | Employees [Member] | Employees [Member] | Employees [Member] | Employees [Member] | ||||||||||||
Note 8 - Stock-Based Compensation Plans (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | ' | ' | 511,000 | ' | ' | ' | ' | ' | ' | ' | ' | 37,500 | 67,500 | ' | ' | 473,500 | 257,500 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Fiscal Vesting Percentage | ' | ' | ' | ' | 25.00% | 25.00% | 25.00% | 50.00% | 50.00% | 25.00% | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation, Options, Expiration Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | '10 years |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | ' | ' | $8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.35 | $3.46 | $8.13 | $3.61 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '5 years 219 days | ' | '6 years 109 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '9 years 219 days | '8 years 219 days | '9 years 146 days | '8 years 219 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | ' | $1.40 | $4.37 | $1.99 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.59 | $1.92 | $4.44 | $2.01 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,500 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares) | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | ' | ' | $3,171 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '2 years 73 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' |
Note_8_StockBased_Compensation3
Note 8 - Stock-Based Compensation Plans (Details) - Recognized Stock-Based Compensation (Exclusive of Deferred Tax Benefits) for Awards Granted Under the Company's Stock Option Plans (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense before income tax benefits | $245 | $263 | $848 | $788 |
Cost of Sales [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense before income tax benefits | 6 | 16 | 24 | 43 |
Selling, General and Administrative Expenses [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense before income tax benefits | $239 | $247 | $824 | $745 |
Note_8_StockBased_Compensation4
Note 8 - Stock-Based Compensation Plans (Details) - Fair Value of Stock Options on Date of Grant, and Assumptions Used to Estimate the Fair Value of the Stock Options Granted During the Period (USD $) | 3 Months Ended | 9 Months Ended | |
Dec. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Fair Value of Stock Options on Date of Grant, and Assumptions Used to Estimate the Fair Value of the Stock Options Granted During the Period [Abstract] | ' | ' | ' |
Weighted-average expected volatility | 60.20% | 63.02% | 63.40% |
Risk-free interest rate | 1.60% | 1.04% | 1.60% |
Expected life of options (in years) | '5 years 109 days | '5 years 135 days | '5 years 109 days |
Fair value of options granted (in Dollars per share) | $1.40 | $4.37 | $1.99 |
Note_8_StockBased_Compensation5
Note 8 - Stock-Based Compensation Plans (Details) - Summary of the Changes in Outstanding Options for All of the Company's Plans (USD $) | 3 Months Ended | 9 Months Ended |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2013 | Dec. 31, 2013 |
Summary of the Changes in Outstanding Options for All of the Company's Plans [Abstract] | ' | ' |
Shares | 1,479,000 | ' |
Weighted Average Exercise Price (in Dollars per share) | $10.80 | $10.22 |
Remaining Weighted Average Contract Life | '5 years 219 days | '6 years 109 days |
Aggregate Intrinsic Value (in Dollars) | $793 | $1,706 |
Exercisable at December 31, 2013 | ' | 1,026,250 |
Exercisable at December 31, 2013 (in Dollars per share) | ' | $12.25 |
Exercisable at December 31, 2013 | ' | '4 years 146 days |
Exercisable at December 31, 2013 (in Dollars) | ' | 572 |
Vested and Expected to vest as of December 31, 2013 | ' | 1,693,689 |
Vested and Expected to vest as of December 31, 2013 (in Dollars per share) | ' | $10.41 |
Vested and Expected to vest as of December 31, 2013 | ' | '6 years 36 days |
Vested and Expected to vest as of December 31, 2013 (in Dollars) | ' | $1,583 |
Granted | ' | 511,000 |
Granted (in Dollars per share) | ' | $8 |
Expired/Forfeited | ' | -192,750 |
Expired/Forfeited (in Dollars per share) | ' | $8.55 |
Shares | ' | 1,797,250 |
Note_8_StockBased_Compensation6
Note 8 - Stock-Based Compensation Plans (Details) - Summary of Changes in Non-Vested Stock Options (USD $) | 3 Months Ended | 9 Months Ended | |
Dec. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 8 - Stock-Based Compensation Plans (Details) - Summary of Changes in Non-Vested Stock Options [Line Items] | ' | ' | ' |
Granted | ' | 511,000 | ' |
Granted (in Dollars per share) | $1.40 | $4.37 | $1.99 |
Forfeited | ' | -192,750 | ' |
Shares | ' | 1,797,250 | 1,479,000 |
Non-Vested Stock Options [Member] | ' | ' | ' |
Note 8 - Stock-Based Compensation Plans (Details) - Summary of Changes in Non-Vested Stock Options [Line Items] | ' | ' | ' |
Shares | ' | 540,063 | ' |
Average Grant Date Fair Value (in Dollars per share) | ' | $4.09 | ' |
Granted | ' | 511,000 | ' |
Granted (in Dollars per share) | ' | $4.37 | ' |
Vested | ' | -210,063 | ' |
Vested (in Dollars per share) | ' | $5.04 | ' |
Forfeited | ' | -70,000 | ' |
Forfeited (in Dollars per share) | ' | $2.91 | ' |
Shares | ' | 771,000 | ' |
Average Grant Date Fair Value (in Dollars per share) | ' | $4.11 | ' |
Note_8_StockBased_Compensation7
Note 8 - Stock-Based Compensation Plans (Details) - Summary of Restricted Stock Activity in 1994 Stock Incentive Plan (USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 |
Summary of Restricted Stock Activity in 1994 Stock Incentive Plan [Abstract] | ' |
Outstanding at April 1, 2013 | 5,625 |
Outstanding at April 1, 2013 (in Dollars per share) | $12.58 |
Vested | -1,875 |
Vested (in Dollars per share) | $12.58 |
Outstanding at December 31, 2013 | 3,750 |
Outstanding at December 31, 2013 (in Dollars per share) | $12.58 |
Expected to vest as of December 31, 2013 | 3,442 |
Expected to vest as of December 31, 2013 (in Dollars per share) | $12.58 |
Note_9_Income_Taxes_Details
Note 9 - Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 9 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Effective Income Tax Rate Reconciliation, Percent | ' | 27.50% | ' | 27.50% |
Income Tax Expense (Benefit) (in Dollars) | $1,108 | ($21,053) | $1,917 | ($21,098) |
Goodwill, Impairment Loss (in Dollars) | ' | 78,609 | ' | 78,609 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | ' | ' | ' | 35.00% |
Excluding the Discrete Tax Items Associated With The Goodwill Write-Off and a Discrete Tax Benefit [Member] | ' | ' | ' | ' |
Note 9 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Effective Income Tax Rate Reconciliation, Percent | ' | ' | 36.60% | ' |
Including Discrete Item Related To Accrual Of Interest [Member] | ' | ' | ' | ' |
Note 9 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Income Tax Expense (Benefit) (in Dollars) | ' | ' | 1,917 | ' |
Related To Accrual Of Interest For Uncertain Tax Positions [Member] | ' | ' | ' | ' |
Note 9 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Income Tax Expense (Benefit) (in Dollars) | ' | ' | 13 | ' |
Provision For Income Taxes [Member] | ' | ' | ' | ' |
Note 9 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Effective Income Tax Rate Reconciliation, Percent | ' | ' | 36.80% | ' |
Benefit For Income Taxes [Member] | ' | ' | ' | ' |
Note 9 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Effective Income Tax Rate Reconciliation, Percent | ' | ' | 27.50% | ' |
Discrete Tax Benefit [Member] | ' | ' | ' | ' |
Note 9 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Effective Income Tax Rate Reconciliation, Percent | ' | ' | ' | 27.70% |
Income Tax Expense (Benefit) (in Dollars) | ' | ' | ' | ($21,761) |
Note_10_Earnings_Loss_Per_Shar2
Note 10 - Earnings (Loss) Per Share (Details) (Restricted Stock And Options [Member]) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Restricted Stock And Options [Member] | ' | ' | ' | ' |
Note 10 - Earnings (Loss) Per Share (Details) [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,478,500 | 1,510,875 | 1,414,695 | 1,510,875 |
Note_10_Earnings_Loss_Per_Shar3
Note 10 - Earnings (Loss) Per Share (Details) - Basic and Diluted Net Earnings Per Share (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Numerator : | ' | ' | ' | ' |
Net income (loss) for basic and diluted earnings per share (in Dollars) | $1,911 | ($55,503) | $3,288 | ($55,575) |
Denominator : | ' | ' | ' | ' |
Denominator for basic earnings (loss) per share - weighted average shares outstanding (in thousands) | 16,391 | 16,391 | 16,391 | 16,391 |
Effect of dilutive securities: | ' | ' | ' | ' |
Employee and director stock options (in thousands) | 77 | ' | 73 | ' |
Denominator for diluted earnings per share - adjusted weighted average shares outstanding (in thousands) | 16,468 | 16,391 | 16,464 | 16,391 |
Basic | ' | ' | ' | ' |
Net income (loss) (in Dollars per share) | $0.12 | ($3.39) | $0.20 | ($3.39) |
Diluted | ' | ' | ' | ' |
Net income (loss) (in Dollars per share) | $0.12 | ($3.39) | $0.20 | ($3.39) |
Note_11_Accounts_Payable_and_A2
Note 11 - Accounts Payable and Accrued Expenses (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
Payables and Accruals [Abstract] | ' | ' |
Bank Overdrafts | $5,160 | $5,372 |
Note_11_Accounts_Payable_and_A3
Note 11 - Accounts Payable and Accrued Expenses (Details) - Accrued Expenses (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accrued Expenses [Abstract] | ' | ' |
Accrued accounts payable | $5,357 | $7,488 |
Accrued bonuses | 3,316 | 1,825 |
Employee compensation and benefits | 2,974 | 3,022 |
Other accrued liabilities | 2,295 | 1,887 |
Accrued distributor fees | 2,107 | 3,608 |
Group purchasing organization fees | 1,907 | 1,569 |
Freight and duty | 943 | 1,270 |
Professional fees | 707 | 1,178 |
Commissions | 552 | 768 |
Book cash overdraft | ' | 2,491 |
Total accrued expenses | $20,158 | $25,106 |
Note_12_Fair_Value_of_Financia1
Note 12 - Fair Value of Financial Instruments (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Note 12 - Fair Value of Financial Instruments (Details) [Line Items] | ' |
Capital Lease Obligations | $13,518 |
Capital Lease Obligations [Member] | ' |
Note 12 - Fair Value of Financial Instruments (Details) [Line Items] | ' |
Obligations, Fair Value Disclosure | $17,580 |
Note_13_Business_Concentration1
Note 13 - Business Concentrations and Major Customers (Details) | 9 Months Ended |
Dec. 31, 2013 | |
Owens & Minor, Inc. [Member] | ' |
Note 13 - Business Concentrations and Major Customers (Details) [Line Items] | ' |
Concentration Risk, Percentage | 41.00% |
Cardinal Health Inc. [Member] | ' |
Note 13 - Business Concentrations and Major Customers (Details) [Line Items] | ' |
Concentration Risk, Percentage | 21.00% |
Minimum [Member] | ' |
Note 13 - Business Concentrations and Major Customers (Details) [Line Items] | ' |
Days Until Receivables Are Generally Due | '30 days |
Maximum [Member] | ' |
Note 13 - Business Concentrations and Major Customers (Details) [Line Items] | ' |
Days Until Receivables Are Generally Due | '90 days |
Note_14_Business_Segments_and_2
Note 14 - Business Segments and Other Financial Information (Details) | 9 Months Ended |
Dec. 31, 2013 | |
Segment Reporting [Abstract] | ' |
Number of Reportable Segments | 1 |
Note_14_Business_Segments_and_3
Note 14 - Business Segments and Other Financial Information (Details) - Sales by Product Line (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 14 - Business Segments and Other Financial Information (Details) - Sales by Product Line [Line Items] | ' | ' | ' | ' |
Net Sales | $109,967 | $109,399 | $325,471 | $333,736 |
Clinical Care Market Sales [Member] | ' | ' | ' | ' |
Note 14 - Business Segments and Other Financial Information (Details) - Sales by Product Line [Line Items] | ' | ' | ' | ' |
Net Sales | 72,436 | 72,840 | 214,775 | 215,075 |
Patient Care Market Sales [Member] | ' | ' | ' | ' |
Note 14 - Business Segments and Other Financial Information (Details) - Sales by Product Line [Line Items] | ' | ' | ' | ' |
Net Sales | 40,995 | 39,986 | 119,975 | 128,240 |
Sales Related Adjustments [Member] | ' | ' | ' | ' |
Note 14 - Business Segments and Other Financial Information (Details) - Sales by Product Line [Line Items] | ' | ' | ' | ' |
Net Sales | ($3,464) | ($3,427) | ($9,279) | ($9,579) |
Note_14_Business_Segments_and_4
Note 14 - Business Segments and Other Financial Information (Details) - Sales by Geographic Region (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Note 14 - Business Segments and Other Financial Information (Details) - Sales by Geographic Region [Line Items] | ' | ' | ' | ' | ||||
Net Segment Sales by Geographic Region | $109,967 | $109,399 | $325,471 | $333,736 | ||||
UNITED STATES | ' | ' | ' | ' | ||||
Note 14 - Business Segments and Other Financial Information (Details) - Sales by Geographic Region [Line Items] | ' | ' | ' | ' | ||||
Net Segment Sales by Geographic Region | 107,976 | 107,310 | 319,513 | 327,124 | ||||
CANADA | ' | ' | ' | ' | ||||
Note 14 - Business Segments and Other Financial Information (Details) - Sales by Geographic Region [Line Items] | ' | ' | ' | ' | ||||
Net Segment Sales by Geographic Region | 995 | 1,064 | 3,261 | 3,113 | ||||
Other International [Member] | ' | ' | ' | ' | ||||
Note 14 - Business Segments and Other Financial Information (Details) - Sales by Geographic Region [Line Items] | ' | ' | ' | ' | ||||
Net Segment Sales by Geographic Region | $996 | [1] | $1,025 | [1] | $3,697 | [1] | $3,499 | [1] |
[1] | Comprised primarily of Brazil and China. |
Note_15_Other_Matters_Details
Note 15 - Other Matters (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | acre |
Note 15 - Other Matters (Details) [Line Items] | ' |
Area of Real Estate Property (in Acres) | 25 |
Loss Contingency Accrual | $4,200 |
Currently Open Letters Of Credit [Member] | ' |
Note 15 - Other Matters (Details) [Line Items] | ' |
Letters of Credit Outstanding, Amount | 2,000 |
Future Letters Of Credits [Member] | ' |
Note 15 - Other Matters (Details) [Line Items] | ' |
Letters of Credit Outstanding, Amount | $1,000 |