Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Jun. 20, 2014 | Sep. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'Speed Commerce, Inc. | ' | ' |
Document Type | '10-K | ' | ' |
Current Fiscal Year End Date | '--03-31 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 65,216,693 | ' |
Entity Public Float | ' | ' | $114,250,000 |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0000911650 | ' | ' |
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-Mar-14 | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $13 | $91 |
Accounts receivable, net | 18,527 | 14,899 |
Prepaid expenses | 1,000 | 609 |
Deferred costs | 1,708 | 483 |
Assets of discontinued operations | 102,278 | 104,964 |
Total current assets | 123,526 | 121,046 |
Property and equipment, net | 15,409 | 8,625 |
Other assets: | ' | ' |
Intangible assets, net | 19,596 | 21,720 |
Goodwill | 30,665 | 31,484 |
Assets of discontinued operations | 7,578 | 11,448 |
Other assets | 5,914 | 1,968 |
Total assets | 202,688 | 196,291 |
Current liabilities: | ' | ' |
Revolving line of credit | 38,362 | 23,884 |
Accounts payable | 12,683 | 11,134 |
Accrued expenses | 1,730 | 1,924 |
Liabilities related to assets of discontinued operations | 88,388 | 98,743 |
Other liabilities — short-term | 4,279 | 1,364 |
Total current liabilities | 146,546 | 138,519 |
Long-term liabilities: | ' | ' |
Deferred payment obligation long-term - acquisition | 1,380 | 1,901 |
Deferred tax liabilities - long term | 1,288 | 1,279 |
Liabilities related to assets of discontinued operations | 7 | 699 |
Other liabilities — long-term | 2,072 | 210 |
Total liabilities | 151,293 | 142,608 |
Commitments and contingencies (Note 11) | ' | ' |
Shareholders’ equity: | ' | ' |
Common stock, no par value: Authorized shares — 100,000,000; issued and outstanding shares — 65,208,193 at March 31, 2014 and 56,238,236 at March 31, 2013 | 213,354 | 189,515 |
Accumulated deficit | -162,734 | -136,168 |
Accumulated other comprehensive income | 775 | 336 |
Total shareholders’ equity | 51,395 | 53,683 |
Total liabilities and shareholders’ equity | 202,688 | 196,291 |
Payment Obligation [Member] | ' | ' |
Current liabilities: | ' | ' |
Contingent obligation - acquisition | 1,104 | 1,082 |
Share Obligation [Member] | ' | ' |
Current liabilities: | ' | ' |
Contingent obligation - acquisition | ' | $388 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Common stock, par value (in Dollars per share) | $0 | $0 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 65,208,193 | 56,238,236 |
Common stock, shares outstanding | 65,208,193 | 56,238,236 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations and Comprehensive Loss (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Net revenue | $107,079 | $54,500 | $7,778 |
Cost of revenue | 88,972 | 44,734 | 6,640 |
Gross profit | 18,107 | 9,766 | 1,138 |
Operating expenses: | ' | ' | ' |
Selling and marketing | 2,692 | 1,621 | 1,076 |
General and administrative | 12,512 | 11,093 | 7,942 |
Information technology | 2,780 | 1,059 | ' |
Depreciation and amortization | 5,848 | 1,101 | 1,002 |
Total operating expenses | 23,832 | 14,874 | 10,020 |
Loss from operations | -5,725 | -5,108 | -8,882 |
Other income (expense): | ' | ' | ' |
Interest expense, net | -1,859 | -1,017 | -962 |
Other income (expense), net | 5 | -98 | -134 |
Loss from continuing operations, before income tax | -7,579 | -6,223 | -9,978 |
Income tax expense from continuing operations | -290 | -11,699 | -11,124 |
Net loss from continuing operations | -7,869 | -17,922 | -21,102 |
Discontinued operations: | ' | ' | ' |
Income (loss) from discontinued operations, net of tax | -18,697 | 6,125 | -13,198 |
Net loss | -26,566 | -11,797 | -34,300 |
Basic earnings (loss) per common share: | ' | ' | ' |
Continuing operations (in Dollars per share) | ($0.13) | ($0.41) | ($0.57) |
Discontinued operations (in Dollars per share) | ($0.31) | $0.14 | ($0.36) |
Net loss (in Dollars per share) | ($0.44) | ($0.27) | ($0.93) |
Diluted earnings (loss) per common share: | ' | ' | ' |
Continuing operations (in Dollars per share) | ($0.13) | ($0.41) | ($0.57) |
Discontinued operations (in Dollars per share) | ($0.31) | $0.14 | ($0.36) |
Net loss (in Dollars per share) | ($0.44) | ($0.27) | ($0.93) |
Weighted average shares outstanding: | ' | ' | ' |
Basic (in Shares) | 60,775 | 43,529 | 36,877 |
Diluted (in Shares) | 60,775 | 43,529 | 36,877 |
Other comprehensive loss: | ' | ' | ' |
Net unrealized gain (loss) on foreign exchange rate translation | 439 | 345 | -164 |
Comprehensive loss | ($26,127) | ($11,452) | ($34,464) |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' Equity (USD $) | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
In Thousands, except Share data | ||||
Balance at March 31 at Mar. 31, 2011 | $162,997 | ($90,071) | $155 | $73,081 |
Balance at March 31 (in Shares) at Mar. 31, 2011 | 36,577,605 | ' | ' | ' |
Shares issued upon exercise of stock options and for restricted stock | 28 | ' | ' | 28 |
Shares issued upon exercise of stock options and for restricted stock (in Shares) | 534,738 | ' | ' | ' |
Share based compensation | 1,171 | ' | ' | 1,171 |
Net loss | ' | -34,300 | ' | -34,300 |
Unrealized loss on foreign exchange rate translation | ' | ' | -164 | -164 |
Balance at March 31 at Mar. 31, 2012 | 164,196 | -124,371 | -9 | 39,816 |
Balance at March 31 (in Shares) at Mar. 31, 2012 | 37,112,343 | ' | ' | ' |
Shares issued upon exercise of stock options and for restricted stock | 90 | ' | ' | 90 |
Shares issued upon exercise of stock options and for restricted stock (in Shares) | 260,610 | ' | ' | ' |
Share based compensation | 983 | ' | ' | 983 |
Common stock issued - SCC Acquisition | 24,246 | ' | ' | 24,246 |
Common stock issued - SCC Acquisition (in Shares) | 18,865,283 | ' | ' | ' |
Net loss | ' | -11,797 | ' | -11,797 |
Unrealized loss on foreign exchange rate translation | ' | ' | 345 | 345 |
Balance at March 31 at Mar. 31, 2013 | 189,515 | -136,168 | 336 | 53,683 |
Balance at March 31 (in Shares) at Mar. 31, 2013 | 56,238,236 | ' | ' | ' |
Shares issued upon exercise of stock options and for restricted stock | 338 | ' | ' | 338 |
Shares issued upon exercise of stock options and for restricted stock (in Shares) | 379,921 | ' | ' | 206,674 |
Share based compensation | 1,326 | ' | ' | 1,326 |
Common stock issued - SCC Acquisition | 388 | ' | ' | 388 |
Common stock issued - SCC Acquisition (in Shares) | 590,036 | ' | ' | ' |
Net loss | ' | -26,566 | ' | -26,566 |
Unrealized loss on foreign exchange rate translation | ' | ' | 439 | 439 |
Equity offering | 21,787 | ' | ' | 21,787 |
Equity offering (in Shares) | 8,000,000 | ' | ' | ' |
Balance at March 31 at Mar. 31, 2014 | $213,354 | ($162,734) | $775 | $51,395 |
Balance at March 31 (in Shares) at Mar. 31, 2014 | 65,208,193 | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Operating activities: | ' | ' | ' |
Net loss | ($26,566,000) | ($11,797,000) | ($34,300,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' |
(Income) loss from discontinued operations, net of tax | 18,697,000 | -6,125,000 | 13,198,000 |
Depreciation and amortization | 5,848,000 | 1,101,000 | 1,002,000 |
Amortization of debt acquisition costs | 323,000 | 196,000 | 482,000 |
Share-based compensation expense | 1,043,000 | 793,000 | 803,000 |
Deferred income taxes | 9,000 | 10,660,000 | 10,726,000 |
Other | ' | 249,000 | -120,000 |
Changes in operating assets and liabilities, net of acquisition | -3,346,000 | -5,424,000 | -1,884,000 |
Operating activities from discontinued operations, net | -21,127,000 | 4,105,000 | -13,478,000 |
Net cash used in operating activities | -25,119,000 | -6,242,000 | -23,571,000 |
Investing activities: | ' | ' | ' |
Proceeds from sale of FUNimation | ' | ' | 22,537,000 |
Cash proceeds (paid) related to acquisition | 319,000 | -22,120,000 | ' |
Purchases of property, equipment and software, net | -10,508,000 | -1,960,000 | ' |
Investing activities from discontinued operations, net | -1,357,000 | -1,877,000 | -2,107,000 |
Net cash provided by (used in) investing activities | -11,546,000 | -25,957,000 | 20,430,000 |
Financing activities: | ' | ' | ' |
Proceeds from revolving line of credit | 135,458,000 | 173,555,000 | 39,471,000 |
Payments on revolving line of credit | -120,980,000 | -149,671,000 | -39,471,000 |
Proceeds from equity offering | 21,787,000 | ' | ' |
Debt acquisition costs | -35,000 | -762,000 | -185,000 |
Other | 338,000 | 90,000 | 136,000 |
Financing activities from discontinued operatings, net | 19,000 | 3,478,000 | 8,790,000 |
Net cash provided by financing activities | 36,587,000 | 26,690,000 | 8,741,000 |
Net increase (decrease) in cash and cash equivalents | -78,000 | -5,509,000 | 5,600,000 |
Cash and cash equivalents at beginning of period | 91,000 | 5,600,000 | ' |
Cash and cash equivalents at end of period | $13,000 | $91,000 | $5,600,000 |
Note_1_Business_Description
Note 1 - Business Description | 12 Months Ended |
Mar. 31, 2014 | |
Disclosure Text Block [Abstract] | ' |
Business Description and Basis of Presentation [Text Block] | ' |
Note 1 Business Description | |
Speed Commerce, Inc. (the “Company” or “Speed Commerce”), a Minnesota corporation formed in 1983, is a provider of web platform development and hosting, customer care, fulfillment, order management, logistics and call center capabilities for clients. The Company is headquartered in Dallas, Texas, with operational support in Mexico, and has fulfillment centers in Columbus, Ohio and Dallas, Texas. | |
On March 31, 2014, the Company announced that it has commenced the process of divesting its legacy Distribution business segment, which is engaged in the retail distribution of computer software and consumer electronics and accessories. The distribution business segment is reclassified as discontinued operations in the consolidated financial statements for all periods presented. | |
On September 9, 2013, the Company amended Article I (the “Amendment”) of its Amended and Restated Articles of Incorporation in order to change its name from Navarre Corporation and our NASDAQ ticker symbol was changed from "NAVR" to "SPDC". | |
In April 2013, the Company announced the consolidation of operating facilities and processes and relocation certain corporate functions from Minneapolis, MN operations to Dallas facility. The relocation was completed by March 31, 2014. | |
On November 20, 2012, Speed Commerce acquired all of the equity interests of SpeedFC, Inc. (a Delaware corporation, through a merger of that entity with and into a Speed Commerce wholly-owned subsidiary, now named Speed Commerce Corp., a Minnesota corporation (“SCC”) (the transaction, the “Acquisition”) pursuant to the terms of that certain Agreement and Plan of Merger dated September 27, 2012, as amended on October 29, 2012 (the “Merger Agreement”). SCC is a leading provider of end-to-end e-commerce services to retailers and manufacturers and its financial results are included in the Company’s E-commerce and Fulfillment Services Segment. |
Note_2_Summary_of_Significant_
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Significant Accounting Policies [Text Block] | ' | ||||||||||||
Note 2 Summary of Significant Accounting Policies | |||||||||||||
Basis of Consolidation | |||||||||||||
The consolidated financial statements include the accounts of Speed Commerce and its wholly-owned subsidiaries (collectively referred to herein as the “Company”). All inter-company accounts and transactions have been eliminated in consolidation. The results of operations, assets and liabilities of distribution business segment for all periods are classified as discontinued operations. | |||||||||||||
Segment Reporting | |||||||||||||
As a result of the presentation of Distribution business as discontinued operations, we only have one reportable segment as of March 31, 2014. | |||||||||||||
Fiscal Year | |||||||||||||
References in these footnotes to fiscal 2014, 2013 and 2012 represent the twelve months ended March 31, 2014, March 31, 2013 and March 31, 2012, respectively. | |||||||||||||
Use of Estimates | |||||||||||||
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the realizability of accounts receivable, goodwill, intangible assets, and the adequacy of certain accrued liabilities and reserves. Actual results could differ from these estimates. | |||||||||||||
Reclassifications | |||||||||||||
The Company has reclassified prior period amounts to conform to the current period’s presentation as discontinued operations in the consolidated financial statements for all periods presented. | |||||||||||||
Fair Value | |||||||||||||
Fair value is determined utilizing a hierarchy of valuation techniques. The three levels of the fair value hierarchy are as follows: | |||||||||||||
● | Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities | ||||||||||||
● | Level 2: Inputs, other than quoted prices, that are observable for the asset or liability, either directly or indirectly; these include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active | ||||||||||||
● | Level 3: Unobservable inputs that reflect the reporting entity’s own assumptions | ||||||||||||
Fair Value of Financial Instruments | |||||||||||||
The carrying value of the Company’s financial assets and liabilities approximates fair value at March 31, 2014 and March 31, 2013. The fair value of assets and liabilities whose carrying value approximates fair value is determined using Level 2 inputs, with the exception of cash (Level 1), contingent payment obligation (Level 3, Note 3) and contingent common stock obligation (Level 3, Note 3). | |||||||||||||
The following table provides a reconciliation of the beginning and ending balances for the obligation liabilities measured at fair value using significant unobservable inputs (Level 3) | |||||||||||||
Due to Seller | |||||||||||||
Balance at March 31, 2013 | $ | 3,371 | |||||||||||
Increase related to acquisition (Note 3) | - | ||||||||||||
Payment of contingent obligation | (887 | ) | |||||||||||
Change in fair value | - | ||||||||||||
Balance at March 31, 2014 | $ | 2,484 | |||||||||||
Nonrecurring Fair Value Measurements | |||||||||||||
The purchase price of business acquisitions is primarily allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition dates, with the excess recorded as goodwill. The Company utilizes Level 3 inputs in the determination of the initial fair value of all assets and liabilities. Non-financial assets such as goodwill, intangible assets, software development costs and property and equipment are subsequently measured at fair value when there is an indicator of impairment and recorded at fair value only when impairment is recognized. The Company assesses the impairment of intangible assets annually or whenever events or changes in circumstances indicate that the carrying amount of an intangible asset may not be recoverable. The fair value of our goodwill and intangible assets is not estimated if there is no change in events or circumstances that indicate the carrying amount of an intangible asset may not be recoverable. | |||||||||||||
Cash and Cash Equivalents | |||||||||||||
The Company considers short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The balances in cash accounts, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents. | |||||||||||||
Property and Equipment | |||||||||||||
Property and equipment are recorded at cost. Depreciation is recorded, using the straight-line method over estimated useful lives, ranging from one to ten years. Depreciation is computed using the straight-line method for leasehold improvements over the shorter of the lease term or the estimated useful life. Estimated useful lives by major asset categories are generally as follows: | |||||||||||||
Asset | Life in Years | ||||||||||||
Furniture and fixtures | 7 | ||||||||||||
Office equipment | 10 | ||||||||||||
Computer equipment | 3 | - | 6 | ||||||||||
Warehouse equipment | 5 | - | 10 | ||||||||||
Leasehold improvements | 1 | - | 10 | ||||||||||
Maintenance, repairs and minor renewals are charged to expense as incurred. Additions, major renewals and property and equipment improvements are capitalized. | |||||||||||||
Impairment of Long-Lived Assets | |||||||||||||
Long-lived assets, such as property and equipment, are evaluated for impairment whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable. An impairment loss is recognized when estimated undiscounted cash flows expected to result from the use of the asset plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. When an impairment loss is recognized, the carrying amount of the asset is reduced to its estimated fair value. Fair value is generally determined using a discounted cash flow analysis. | |||||||||||||
Goodwill | |||||||||||||
Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations accounted for under the purchase method. The Company reviews goodwill for potential impairment annually for each reporting unit or when events or changes in circumstances indicate the carrying value of the goodwill might exceed its current fair value. We evaluate impairment of goodwill by first performing a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Factors which may cause impairment include negative industry or economic trends and significant underperformance relative to historical or projected future operating results. The Company determines fair value using widely accepted valuation techniques, including discounted cash flow and market multiple analyses. The amount of impairment loss is recognized as the excess of the asset’s carrying value over its fair value. | |||||||||||||
Intangible Assets | |||||||||||||
Intangible assets include trademarks, developed technology, customer relationships, and a domain name. Intangible assets (except for trademarks) are amortized on a straight-line basis with estimated useful lives ranging from three to eight years. The straight-line method of amortization of these assets reflects an appropriate allocation of the costs of the intangible assets to its useful life. Intangible assets are tested for impairment whenever events or circumstances indicate that a carrying amount of an asset may not be recoverable. An impairment loss is generally recognized when the carrying amount of an asset exceeds the estimated fair value of the asset. Fair value is generally determined using a discounted cash flow analysis. | |||||||||||||
Trademarks are deemed to have indefinite lives and are evaluated for impairment annually. | |||||||||||||
Software acquired or developed for internal-use is deferred and capitalized during application development stage and is amortized on a straight-line basis over its useful life between three and five years. | |||||||||||||
Operating Leases | |||||||||||||
The Company conducts substantially all operations in leased facilities. Leasehold allowances, rent holidays and escalating rent provisions are accounted for on a straight-line basis over the term of the lease. The portion of deferred rent due in twelve months or less is considered short-term and is included in accrued expenses in the accompanying Consolidated Balance Sheets. The long-term portion is included in other liabilities — long-term. | |||||||||||||
Revenue Recognition | |||||||||||||
Revenue for the Company is recognized based on terms of service within the customer contract. A portion of the Company’s service revenue arrangements include upfront service elements, such as web implementation and migration, and recurring service elements such as web site support, e-commerce fulfillment services and additional services. The Company does not earn or receive any commissions from its customers. Fees related to upfront contract services, such as web site implementation and migration, are deferred and recognized ratably over the expected term of the relationship with the customer, beginning when delivery of recurring services has occurred. Costs associated with the upfront contract fees are deferred and recognized consistent with the recognition of revenues. Recurring contract service elements are charged based on the number of transactions processed and recognized as the services are performed as measured by the volume of orders completed. We record all taxes imposed directly on revenue-producing transactions on a gross basis. | |||||||||||||
Accounts Receivable and Allowance for Doubtful Accounts | |||||||||||||
Accounts receivable represent trade receivables from customers when we have invoiced for services and we have not yet received payment. We present accounts receivable net of an allowance for doubtful accounts. We maintain an allowance for doubtful accounts for estimated losses resulting from the inability of customers to make required payments. In doing so, we consider the current financial condition of the customer, the specific details of the customer account, the age of the outstanding balance, the current economic environment and historical credit trends. The Company writes off accounts receivable when they become uncollectible, and payments subsequently received on such receivables are credited to the allowance for doubtful accounts. Although risk management practices and methodologies are utilized to determine the adequacy of the allowance, it is possible that the accuracy of the estimation process could be materially impacted by different judgments as to collectability based on the information considered and further deterioration of accounts. | |||||||||||||
Shipping Costs | |||||||||||||
Shipping costs incurred by the e-commerce and fulfillments services related to providing logistical services are classified in cost of sales. | |||||||||||||
Income Taxes | |||||||||||||
Income taxes are recorded under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Management assesses the likelihood that deferred tax assets will be recovered from future taxable income and establishes a valuation allowance when management believes recovery is not likely. | |||||||||||||
The Company records estimated penalties and interest related to income tax matters, including uncertain tax positions as a component of income tax expense. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant tax authority. | |||||||||||||
Concentration of Credit Risk | |||||||||||||
Financial instruments that potentially expose the Company to concentrations of credit risk include cash, cash equivalents and accounts receivable. The Company maintains substantially all of its cash and cash equivalents with one financial institution, which management believes has a high credit standing. To manage credit risk related to accounts receivable, the Company evaluates the allowances for potential credit losses. To date, losses resulting from uncollected receivables have not exceeded management’s expectations. | |||||||||||||
Stock-Based Compensation | |||||||||||||
The Company has a stock-based compensation plan for officers, non-employee directors and key employees. The Company measures the cost of employee services received in exchange for the award of equity instruments based on the fair value of the award at the date of grant. The cost is to be recognized over the period during which an employee is required to provide services in exchange for the award. The Company’s common stock is purchased by the optionee upon the exercise of stock options, and restricted stock awards are settled in shares of the Company’s common stock. | |||||||||||||
Earnings (Loss) Per Share | |||||||||||||
Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the year. Diluted earnings (loss) per share is computed by dividing net income (loss) by the sum of the weighted average number of common shares outstanding during the year plus all additional common shares that would have been outstanding if potentially dilutive common shares related to stock options, restricted stock and warrants had been issued. The following table sets forth the computation of basic and diluted earnings (loss) per share (in thousands, except for per share data): | |||||||||||||
Years ended March 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Numerator: | |||||||||||||
Net loss from continuing operations | $ | (7,869 | ) | $ | (17,922 | ) | $ | (21,102 | ) | ||||
Income (loss) from discontinued operations, net of tax | (18,697 | ) | 6,125 | (13,198 | ) | ||||||||
Net loss | $ | (26,566 | ) | $ | (11,797 | ) | $ | (34,300 | ) | ||||
Denominator: | |||||||||||||
Denominator for basic loss per share — weighted average shares | 60,775 | 43,529 | 36,877 | ||||||||||
Denominator for diluted loss per share — weighted-average shares | 60,775 | 43,529 | 36,877 | ||||||||||
Basic earnings (loss) per common share | |||||||||||||
Continuing operations | $ | (0.13 | ) | $ | (0.41 | ) | $ | (0.57 | ) | ||||
Discontinued operations | (0.31 | ) | 0.14 | (0.36 | ) | ||||||||
Net income (loss) | $ | (0.44 | ) | $ | (0.27 | ) | $ | (0.93 | ) | ||||
Diluted earnings (loss) per common share | |||||||||||||
Continuing operations | $ | (0.13 | ) | $ | (0.41 | ) | $ | (0.57 | ) | ||||
Discontinued operations | (0.31 | ) | 0.14 | (0.36 | ) | ||||||||
Net income (loss) | $ | (0.44 | ) | $ | (0.27 | ) | $ | (0.93 | ) | ||||
Due to the Company’s net loss for the years ended March 31, 2014, 2013 and 2012, diluted loss per share from continuing operations excludes 1.8 million, 2.6 million and 2.8 million, respectively, stock options and restricted stock awards because their inclusion would have been anti-dilutive. | |||||||||||||
Transition and Transaction Plan | |||||||||||||
During April 2013, the Company implemented a series of initiatives in connection with the integration of SCC. These included a reduction in workforce and a consolidation of business structures and processes across the Company's operations. These integration initiatives resulted in, among other things, the Company's determination to close its Minneapolis, MN distribution facility; the leasing of expanded distribution and fulfillment facilities in Columbus, OH and the leasing of new offices in Dallas, TX; and the transition of certain corporate functions from Minneapolis to Dallas. The Company completed these initiatives in fiscal year 2014 and incurred $20.2 million of which $9.0 million is included as part of loss on discontinued operations in transition and transaction costs during the fiscal 2014. In addition, the Company recognized within loss on discontinued operations $4.5 million related exit costs, related to the unexpired lease terms of its Minneapolis, MN distribution facility as asset impairments in fiscal 2014. | |||||||||||||
Recent Accounting Pronouncements | |||||||||||||
In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-11, Presentation of Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, an amendment to FASB Accounting Standards Codification (“ASC”) Topic 740, Income Taxes (“FASB ASC Topic 740”). This update clarifies that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations where a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction or the tax law of the jurisdiction does not require, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This ASU is effective for the Company’s annual and quarterly reporting periods ending after April 1, 2014. Retrospective application is permitted. The Company is currently evaluating the impact on its consolidated financial statements and financial statement disclosures. |
Note_3_Acquisition
Note 3 - Acquisition | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Business Combination Disclosure [Text Block] | ' | ||||||||
Note 3 Acquisition | |||||||||
SCC | |||||||||
On November 20, 2012, the Company completed the acquisition of SCC, a leading provider of end-to-end e-commerce services. Total consideration included: $24.5 million in cash at closing, which is net of a preliminary working capital adjustment, 17.1 million shares of the Company’s common stock plus performance payments (contingent consideration) up to an additional $5.0 million in cash (undiscounted) and 6.3 million shares of the Company’s common stock contingent upon SCC’s achieving certain financial metrics for the 12 months ending December 31, 2012. The contingent cash payment is comprised of up to a maximum of $1.25 million, of which $1.0 million was paid in early calendar 2013, and up to a maximum of $3.75 million, of which $3.0 million (before interest of five percent per annum) will be paid in equal, quarterly installments beginning in October 2013 and ending on February 29, 2016. The contingent share payment of up to a maximum of 2,215,526 shares was to be issued in early calendar 2013, of which 1,770,097 shares were issued, and up to a maximum of 4,071,842 shares could have been issued in late calendar 2013, of which 590,036 were issued in July 2013. The determination of the remaining contingent cash and share payments was finalized in the first quarter of fiscal 2014. The working capital adjustment was also finalized in the first quarter of fiscal 2014 in accordance with the Merger Agreement, pursuant to which the Company received $836,000, which reduces the amount of cash consideration paid and decreases goodwill. | |||||||||
The combined fair value of the contingent consideration was estimated to be $7.4 million based upon Level 3 fair value valuation techniques (unobservable inputs that reflect the Company’s own assumptions). A financial model was applied to estimate the value of the contingent consideration that utilized the income approach and option pricing theory to compute expected values and probabilities of reaching the various thresholds in the Merger Agreement. Key assumptions included (1) a discount rate of 14%, (2) EBITDA operating results of between $6.0 and $10.0 million and (3) specific to the option pricing - interest rate of 0.15%, expected term of 0.11 years, dividend yield of 0.0% and volatility of 0%. The estimated fair value of the contingent consideration could change if different assumptions are used. | |||||||||
The goodwill of $30.6 million arising from the acquisition consists largely of the synergies and economies of scale expected from combining the operations of the Company and SCC. All goodwill was assigned to the Company’s SCC reporting unit which is included in the E-commerce and Fulfillment Services and is not deductible for tax purposes. This transaction qualified as an acquisition of a significant business pursuant to Regulation S-X and financial statements for the acquired business were filed with the SEC. | |||||||||
The purchase price was allocated based on of the fair value of assets acquired and liabilities assumed as follows (in thousands): | |||||||||
Consideration: | |||||||||
Cash | $ | 23,657 | |||||||
Common stock | 21,250 | ||||||||
Contingent payment obligation | 3,981 | ||||||||
Contingent common stock obligation | 3,383 | ||||||||
Fair value of total consideration transferred | $ | 52,271 | |||||||
The SCC purchase price was allocated as follows: | |||||||||
Accounts receivable | $ | 11,732 | |||||||
Prepaid expenses and other assets | 624 | ||||||||
Property and equipment | 7,075 | ||||||||
Purchased intangibles | 22,250 | ||||||||
Goodwill | 30,647 | ||||||||
Accounts payable | (6,106 | ) | |||||||
Accrued expenses and other liabilities | (4,056 | ) | |||||||
Deferred tax liability | (9,895 | ) | |||||||
$ | 52,271 | ||||||||
Net revenue of SCC, included in the Consolidated Statements of Operations and Comprehensive Income (Loss) for the year ended March 31, 2014 was $87.0 million. SCC provided operating income of $1.9 million to the consolidated Company’s operating income for the year ended March 31, 2013. | |||||||||
Acquisition-related costs (included in general and administrative expenses in the Consolidated Statements of Operations and Comprehensive Income (Loss)) for the year ended March 31, 2013 were $3.5 million. | |||||||||
The following summary, prepared on a condensed pro forma basis presents the Company’s unaudited consolidated results from operations as if the acquisition of SCC had been completed as of the beginning of fiscal 2012. The unaudited pro forma presentation below does not include any impact of transaction costs or synergies. | |||||||||
Years ended March 31, | |||||||||
2013 | 2012 | ||||||||
Net sales | $ | 97,608 | $ | 60,794 | |||||
Cost of sales | 80,364 | 50,899 | |||||||
Gross profit | 17,244 | 9,895 | |||||||
Operating expenses | 15,540 | 16,767 | |||||||
Income from operations | $ | 1,704 | $ | (6,872 | ) | ||||
Note_4_Discontinued_Operations
Note 4 - Discontinued Operations | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | ||||||||||||
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | ' | ||||||||||||
Note 4 Discontinued Operations | |||||||||||||
On March 31, 2014, the Company announced that it has commenced the process of divesting its legacy Distribution business segment, which is engaged in the retail distribution of computer software and consumer electronics and accessories. The distribution business segment is reclassified as discontinued operations in the consolidated financial statements for all periods presented. The transaction is expected to close by the second quarter of fiscal year 2015. During fiscal 2014, the Company adjusted the estimated carrying value of the assets and liabilities of discontinued operations by $2.2 million to reflect fair value measurements. In addition, the assets and liabilities associated with the discontinued operations are classified as Assets of discontinued operations and Liabilities related to assets of discontinued operations, as appropriate, in the consolidated balance sheets. | |||||||||||||
The following table provides the components of Discontinued operations: | |||||||||||||
Years ended March 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Net revenue | $ | 391,237 | $ | 430,795 | $ | 473,047 | |||||||
Cost of revenue | 359,554 | 388,501 | 429,678 | ||||||||||
Total operating expenses | 50,353 | 36,032 | 57,119 | ||||||||||
Pre-tax income (loss) from discontinued operations | (18,670 | ) | 6,262 | (13,750 | ) | ||||||||
Income tax benefit (expense) | (27 | ) | (137 | ) | 552 | ||||||||
Income (loss) from discontinued operations, net of tax | $ | (18,697 | ) | $ | 6,125 | $ | (13,198 | ) | |||||
The following table provides the components of Assets of discontinued operations and Liabilities related to assets of discontinued operations: | |||||||||||||
31-Mar-14 | 31-Mar-13 | ||||||||||||
Accounts receivable, net | $ | 67,494 | $ | 68,597 | |||||||||
Inventories | 33,386 | 34,197 | |||||||||||
Prepaid expenses | 1,398 | 2,170 | |||||||||||
Property and equipment, net | 3,181 | 5,460 | |||||||||||
Software development costs, net | 574 | - | |||||||||||
Goodwill and Intangible assets | - | 1,009 | |||||||||||
Non-current prepaid royalties | 3,261 | 3,966 | |||||||||||
Other non-current assets | 562 | 1,013 | |||||||||||
Assets of discontinued operations | $ | 109,856 | $ | 116,412 | |||||||||
Current liabilities | $ | 88,388 | $ | 98,743 | |||||||||
Other long-term liabilities | 7 | 699 | |||||||||||
Liabilities related to assets of discontinued operations | $ | 88,395 | $ | 99,442 | |||||||||
Note_5_Supplemental_Cash_Flow_
Note 5 - Supplemental Cash Flow Information | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||||||
Cash Flow, Supplemental Disclosures [Text Block] | ' | ||||||||||||
Note 5 Supplemental Cash Flow Information | |||||||||||||
For the years ended March 31, 2014, 2013 and 2012, net cash paid for income taxes was $448,000, $202,000 and $2,000, respectively. For the years ended March 31, 2014, 2013, and 2012, net cash paid for interest was $1.7 million, $710,000, and $566,000, respectively. | |||||||||||||
The following table provides the components of Changes in operating assets and liabilities, net of acquisition: | |||||||||||||
31-Mar-14 | 31-Mar-13 | 31-Mar-12 | |||||||||||
Accounts receivable | $ | (3,628 | ) | $ | (297 | ) | $ | (2,488 | ) | ||||
Prepaid expenses | (391 | ) | 643 | 114 | |||||||||
Income taxes receivable | - | 13 | (13 | ) | |||||||||
Other assets | (5,459 | ) | (1,298 | ) | (88 | ) | |||||||
Accounts payable | 1,549 | 2,641 | (68 | ) | |||||||||
Income taxes payable | - | - | (37 | ) | |||||||||
Accrued expenses and other liabilities | 4,583 | (7,126 | ) | 696 | |||||||||
Changes in operating assets and liabilities, net of acquisition | $ | (3,346 | ) | $ | (5,424 | ) | $ | (1,884 | ) | ||||
Note_6_Goodwill_and_Intangible
Note 6 - Goodwill and Intangible Assets | 12 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||
Intangible Assets Disclosure [Text Block] | ' | ||||||||||||||||||||||||
Note 6 Goodwill and Intangible Assets | |||||||||||||||||||||||||
Goodwill | |||||||||||||||||||||||||
The Company performs an impairment test of goodwill annually, or when events or a change in circumstances indicate that the carrying value might exceed the current fair value. The goodwill as of March 31, 2014 was created in the SCC acquisition and was re-evaluated as of March 31, 2014 based upon the Company’s planned divestiture of the Distribution business. Certain factors may result in the need to perform an impairment test other than annually, including significant underperformance of the Company's business relative to expected operating results, significant adverse economic and industry trends, and a decision to divest an individual business within a reporting unit. | |||||||||||||||||||||||||
If the fair value of the reporting unit is determined, based on qualitative factors, to be more likely than not less than the carrying amount of the reporting unit, then the Company is required to perform the goodwill impairment test. Goodwill impairment is determined using a two-step process. | |||||||||||||||||||||||||
• | The first step is to identify if a potential impairment exists by comparing the fair value of the business with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered to have a potential impairment and the second step of the process is not necessary. However, if the carrying amount of a reporting unit exceeds its fair value, the second step is performed to determine if goodwill is impaired and to measure the amount of impairment loss to recognize, if any. | ||||||||||||||||||||||||
• | The second step, if necessary, compares the implied fair value of goodwill with the carrying amount of goodwill. If the implied fair value of goodwill exceeds the carrying amount, then goodwill is not considered impaired. However, if the carrying amount of goodwill exceeds the implied fair value, an impairment loss is recognized in an amount equal to that excess. | ||||||||||||||||||||||||
The Company estimates the fair value using various valuation techniques, with the primary technique being a discounted cash flow analysis. A discounted cash flow analysis requires the Company to make various assumptions about sales, operating margins, growth rates and discount rates. Assumptions about discount rates are based on a weighted-average cost of capital derived from observable market inputs and comparable company data. Assumptions about sales, operating margins, and growth rates are based on management’s forecasts, business plans, economic projections, anticipated future cash flows and marketplace data. Assumptions are also made for varying perpetual growth rates for periods beyond the long-term business plan period. Based on management’s qualitative assessment, the Company concluded that no potential impairment existed during year ended March 31, 2014. | |||||||||||||||||||||||||
Intangible Asset Summary | |||||||||||||||||||||||||
Identifiable intangible assets, with zero residual value, are being amortized (except for the trademarks which have an indefinite life) over useful lives of five years for developed technology, eight to fourteen years for customer relationships, three years for customer list and seven years for the domain name and are valued as follows (in thousands): | |||||||||||||||||||||||||
As of March 31, 2014 | As of March 31, 2013 | ||||||||||||||||||||||||
Gross carrying | Accumulated | Net | Gross carrying | Accumulated | Net | ||||||||||||||||||||
amount | amortization | amount | amortization | ||||||||||||||||||||||
Developed technology | $ | 4,170 | $ | (1,483 | ) | $ | 2,687 | $ | 4,170 | $ | (370 | ) | $ | 3,800 | |||||||||||
Customer relationships | 14,490 | (1,485 | ) | 13,005 | 14,490 | (307 | ) | 14,183 | |||||||||||||||||
Domain name | 135 | (19 | ) | 116 | 135 | - | 135 | ||||||||||||||||||
Internal-use software | 244 | (46 | ) | 198 | 13 | (1 | ) | 12 | |||||||||||||||||
Trademarks (not amortized) | 3,590 | - | 3,590 | 3,590 | - | 3,590 | |||||||||||||||||||
$ | 22,629 | $ | (3,033 | ) | $ | 19,596 | $ | 22,398 | $ | (678 | ) | $ | 21,720 | ||||||||||||
Aggregate amortization expense for the years ended March 31, 2014, 2013 and 2012 was $2.4 million, $0.7 million and zero, respectively. The following is a schedule of estimated future amortization expense (in thousands): | |||||||||||||||||||||||||
2015 | $ | 3,459 | |||||||||||||||||||||||
2016 | 3,948 | ||||||||||||||||||||||||
2017 | 3,149 | ||||||||||||||||||||||||
2018 | 2,146 | ||||||||||||||||||||||||
2019 | 1,501 | ||||||||||||||||||||||||
Thereafter | 1,803 | ||||||||||||||||||||||||
Total | $ | 16,006 | |||||||||||||||||||||||
Debt issuance costs | |||||||||||||||||||||||||
Debt issuance costs are included in “Other Assets” and are amortized over the life of the related debt. Debt issuance costs consisted of the following (in thousands): | |||||||||||||||||||||||||
31-Mar-14 | March 31, 2013 | ||||||||||||||||||||||||
Debt issuance costs | $ | 2,771 | $ | 2,736 | |||||||||||||||||||||
Less: accumulated amortization | (1,848 | ) | (1,525 | ) | |||||||||||||||||||||
Debt issuance costs, net | $ | 923 | $ | 1,211 | |||||||||||||||||||||
Amortization expense was $323,000, $199,000 and $482,000 for the years ended March 31, 2014, 2013 and 2012, respectively and was included in interest expense. During fiscal 2014 and 2013, the Company incurred $35,000 and $762,000, respectively of debt issuance costs related to amendments to the Company’s Credit Facility. |
Note_7_Prepaid_Expenses
Note 7 - Prepaid Expenses | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Prepaid Expenses Disclosure [Abstract] | ' | ||||||||
Prepaid Expenses Disclosure [Text Block] | ' | ||||||||
Note 7 Prepaid Expenses | |||||||||
Prepaid expenses consisted of the following (in thousands): | |||||||||
31-Mar-14 | March 31, 2013 | ||||||||
Prepaid maintenance and licenses | $ | 450 | $ | 210 | |||||
Other prepaid expenses | 550 | 399 | |||||||
Total prepaid expenses | $ | 1,000 | $ | 609 | |||||
Note_8_Property_and_Equipment
Note 8 - Property and Equipment | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ||||||||
Note 8 Property and Equipment | |||||||||
Property and equipment consisted of the following (in thousands): | |||||||||
31-Mar-14 | March 31, 2013 | ||||||||
Furniture and fixtures | $ | 27 | $ | - | |||||
Computer and office equipment | 5,561 | 3,155 | |||||||
Warehouse equipment | 10,464 | 4,303 | |||||||
Leasehold improvements | 826 | 173 | |||||||
Construction in progress | 2,851 | 1,975 | |||||||
Total | 19,729 | 9,606 | |||||||
Less: accumulated depreciation and amortization | 4,320 | 981 | |||||||
Net property and equipment | $ | 15,409 | $ | 8,625 | |||||
Depreciation and amortization expense was $3.3 million, $1.0 million and $1.0 million for the years ended March 31, 2014, 2013 and 2012, respectively. | |||||||||
Net long-lived assets held were $14.6 million and $7.4 million in the United States, and $391,000 and $104,000 in Mexico at March 31, 2014 and 2013, respectively. |
Note_9_Accrued_Expenses
Note 9 - Accrued Expenses | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | ' | ||||||||
Note 9 Accrued Expenses | |||||||||
Accrued expenses consisted of the following (in thousands): | |||||||||
31-Mar-14 | March 31, 2013 | ||||||||
Compensation and benefits | $ | 1,135 | $ | 1,433 | |||||
Accrued interest | 158 | 99 | |||||||
Other | 437 | 392 | |||||||
Total | $ | 1,730 | $ | 1,924 | |||||
Note_10_401k_Plan
Note 10 - 401(k) Plan | 12 Months Ended |
Mar. 31, 2014 | |
Compensation and Retirement Disclosure [Abstract] | ' |
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' |
Note 10 401(k) Plan | |
The Company has a defined contribution 401(k) profit-sharing plan for eligible employees, which is qualified under Sections 401(a) and 401(k) of the Internal Revenue Code of 1986, as amended. The plan covers substantially all full-time and part-time employees. Employees are entitled to make tax deferred contributions of up to 100% of their eligible compensation, subject to annual IRS limitations. The Company may contribute a discretionary amount on an annual basis. The Company’s discretionary contributions charged to expense were $0, $0 and $80,000 for the years ended March 31, 2014, 2013 and 2012, respectively. The Company’s matching contributions vest over three years. | |
The Company’s discretionary contributions charged to expense reclassified as discontinued operations were $0, $0 and $43,000 for the years ended March 31, 2014, 2013 and 2012, respectively. |
Note_11_Commitments_and_Contin
Note 11 - Commitments and Contingencies | 12 Months Ended | ||||
Mar. 31, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Contingencies Disclosure [Text Block] | ' | ||||
Note 11 Commitments and Contingencies | |||||
Leases | |||||
The Company leases its facilities and a portion of its office and warehouse equipment. The terms of the lease agreements generally range from 3 to 15 years, with certain leases containing options to extend the leases up to an additional 10 years. The Company does not believe that exercise of the renewal options are reasonably assured at the inception of the lease agreements and, therefore, considers the initial base term to be the lease term. The leases require payment of real estate taxes and operating costs in addition to base rent. Total base rent expense including discontinued operations was $5.4 million, $2.8 million and $2.5 million for the years ended March 31, 2014, 2013 and 2012, respectively. Lease terms vary, but generally provide for fixed and escalating rentals which range from an additional $0.06 per square foot to a 3% annual increase over the life of the lease. | |||||
The following is a schedule of future minimum rental payments required under noncancelable operating leases as of March 31, 2014 (in thousands): | |||||
2015 | $ | 5,145 | |||
2016 | 6,216 | ||||
2017 | 6,351 | ||||
2018 | 5,423 | ||||
2019 | 4,573 | ||||
Thereafter | 15,688 | ||||
Total | $ | 43,396 | |||
Guarantee | |||||
On May 29, 2007, FUNimation entered into an office lease in Flower Mound, Texas. In order to obtain the lease, the Company, as the parent of the FUNimation subsidiary at that time, guaranteed the full and prompt payment of the lease obligations and as of March 31, 2011, the Company continued to be the guarantor. On April 14, 2011, the Company entered into an agreement to be released from the office lease guarantee by providing a five-year, standby letter of credit for $1.5 million, which is reduced by $300,000 each subsequent year. The standby letter of credit can be drawn down, to the extent in default, if the full and prompt payment of the lease is not completed by FUNimation. There was no indication that FUNimation would not be able to pay the required future lease payments totaling $2.3 million and $2.9 million at March 31, 2014 and 2013, respectively. Therefore, at March 31, 2014 and 2013, the Company did not believe a future draw on the standby letter of credit was probable and an accrual related to any future obligation was not considered necessary at such times. | |||||
Litigation and Proceedings | |||||
In the normal course of business, the Company is involved in a number of litigation/arbitration and administrative/regulatory matters that are incidental to the operation of the Company’s business. These proceedings generally include, among other things, various matters with regard to products distributed by the Company and the collection of accounts receivable owed to the Company. | |||||
The Company does not currently believe that the resolution of any pending matters will have a material adverse effect on the Company’s financial position or liquidity, but an adverse decision in more than one could be material to the Company’s consolidated results of operations. No amounts were accrued with respect to proceedings as of March 31, 2014 and 2013, respectively as not probable or estimable. |
Note_12_Capital_Leases
Note 12 - Capital Leases | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Leases, Capital [Abstract] | ' | ||||||||
Capital Leases in Financial Statements of Lessee Disclosure [Text Block] | ' | ||||||||
Note 12 Capital Leases | |||||||||
The Company leases certain equipment under noncancelable capital leases. At March 31, 2014 and 2013, leased capital assets included in property and equipment were as follows (in thousands): | |||||||||
31-Mar-14 | 31-Mar-13 | ||||||||
Computer and office equipment | $ | 234 | $ | 193 | |||||
Less: accumulated amortization | 85 | 101 | |||||||
Net property and equipment | $ | 149 | $ | 92 | |||||
Amortization expense for the years ended March 31, 2014, 2013 and 2012 was $69,000, $82,000 and $87,000, respectively. Future minimum lease payments, excluding additional costs such as insurance and maintenance expense payable by the Company under these agreements, by year and in the aggregate are as follows (in thousands): | |||||||||
Minimum Lease Commitments | |||||||||
Year ending March 31: | |||||||||
2015 | $ | 80 | |||||||
2016 | 78 | ||||||||
2017 | 12 | ||||||||
2018 | - | ||||||||
Total minimum lease payments | $ | 170 | |||||||
Less: amounts representing interest at rates ranging from 5.0% to 9.563% | 12 | ||||||||
Present value of minimum capital lease payments, reflected in the balance sheet as current and noncurrent capital lease obligations of $58 and $99, respectively. | $ | 158 | |||||||
Note_13_Bank_Financing_and_Deb
Note 13 - Bank Financing and Debt | 12 Months Ended |
Mar. 31, 2014 | |
Debt Disclosure [Abstract] | ' |
Debt Disclosure [Text Block] | ' |
Note 13 Bank Financing and Debt | |
On November 12, 2009, the Company entered into a three year, $65.0 million revolving credit facility (the “Credit Facility”) with Wells Fargo Foothill, LLC as agent and lender, and a participating lender. On December 29, 2011, the Credit Facility was amended to reduce the revolving credit facility limit to $50.0 million, provide for an additional $20.0 million under the Credit Facility under certain circumstances and extend the maturity date to December 29, 2016. On November 20, 2012, the Credit Facility was amended to provide for the acquisition of SCC, eliminate the additional $20.0 million available under the Credit Facility and extend the maturity date to November 20, 2017. The Credit Facility was again amended on June 28, 2013 in order to modify the Company’s limitations on capital expenditures under the Credit Facility and to make certain adjustments to the definition of “EBITDA”, in connection with the final earn-out calculations related to the acquisition of SCC. | |
On June 2, 2014, the Company, together with its subsidiaries, entered into a Waiver and Amendment Agreement with Wells Fargo Capital Finance, LLC (the “Waiver and Amendment”). The Waiver and Amendment amended the Credit Facility to provide for, among other things, each of the following: (i) the consent of Wells Fargo to the Series C Preferred Stock financing; (ii) the waiver of certain defaults under the Credit Facility; (iii) the modification to the maximum revolver amount to $30.0 million; (iv) the amendment to certain provisions of the Credit Facility that determine the Company’s borrowing availability under the Credit Facility, and (v) the provision of a release in favor of Wells Fargo Capital Finance, LLC. | |
The Credit Facility is secured by a first priority security interest in all of the Company’s assets, as well as the capital stock of its subsidiary companies. Additionally, the Credit Facility, as amended, calls for monthly interest payments at the bank’s base rate (as defined in the Credit Facility) plus 1.75%, or LIBOR plus 2.75%, at the Company’s discretion. | |
At March 31, 2014 and 2013 the Company had $38.4 million and $23.9 million, respectively, outstanding on the Credit Facility. Amounts available under the Credit Facility are subject to a borrowing base formula. Changes in the assets within the borrowing base formula can impact the amount of availability. At March 31, 2014, the Company had $76,000 of excess availability at the time but the Company was not in compliance with a covenant in the Credit Facility that required it maintain excess availability of at least $5 million. Pursuant to the Waiver and Amendment agreement, proceeds from the Series C Preferred offering were used to create availability under the Credit Facility. This event of default was subsequently waived by Wells Fargo pursuant to the Waiver and Amendment. Based on the Credit Facility’s borrowing base and other requirements the Company had excess availability of $19.9 million at March 31, 2013, respectively. | |
In association with, and per the terms of the Credit Facility, the Company also pays and has paid certain facility and agent fees. Weighted-average interest on the Credit Facility was 5.17% and 4.38% at March 31, 2014 and 2013, respectively. Such interest amounts have been, and continue to be, payable monthly. | |
Under the Credit Facility, the Company is required to meet certain financial and non-financial covenants. The financial covenants include a variety of financial metrics that are used to determine the Company’s overall financial stability as well as limitations on capital expenditures, a minimum ratio of EBITDA to fixed charges and a minimum borrowing base availability requirement. At March 21, 2014, we were in compliance with all covenants under the Credit Facility, as amended as of June 2, 2014. | |
Letters of Credit | |
On April 14, 2011, the Company was released from the FUNimation office lease guaranty by providing a five-year, standby letter of credit for $1.5 million, which is reduced by $300,000 each subsequent year. The standby letter of credit can be drawn down, to the extent in default, if the full and prompt payment of the lease is not completed by FUNimation. No claims have been made against this financial instrument. There was no indication that FUNimation would not be able to pay the required future lease payments totaling $2.3 million and $2.9 million at March 31, 2014 and 2013, respectively. Therefore, at March 31, 2014 and 2013, the Company did not believe a future draw on the standby letter of credit was probable and an accrual related to any future obligation was not considered necessary at such times. |
Note_14_Income_Taxes
Note 14 - Income Taxes | 12 Months Ended | |||||||||||||||
Mar. 31, 2014 | ||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||
Income Tax Disclosure [Text Block] | ' | |||||||||||||||
Note 14 Income Taxes | ||||||||||||||||
The income tax provision (benefit) from continuing operations is comprised of the following (in thousands): | ||||||||||||||||
Years ended March 31, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Income (loss) before income taxes | ||||||||||||||||
United States | $ | (7,759 | ) | $ | (6,340 | ) | $ | (9,978 | ) | |||||||
International | 180 | 117 | - | |||||||||||||
$ | (7,579 | ) | $ | (6,223 | ) | $ | (9,978 | ) | ||||||||
Years ended March 31, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Current | ||||||||||||||||
Federal | $ | 28 | $ | (112 | ) | $ | (157 | ) | ||||||||
Foreign | 54 | 35 | - | |||||||||||||
State | 91 | 110 | 66 | |||||||||||||
Deferred | (2,432 | ) | (1,233 | ) | (2,620 | ) | ||||||||||
Valuation allowance | 2,549 | 12,899 | 13,835 | |||||||||||||
Tax expense | $ | 290 | $ | 11,699 | $ | 11,124 | ||||||||||
A reconciliation of income tax expense (benefit) from continuing operations to the statutory federal rate is as follows: | ||||||||||||||||
Years ended March 31, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Expected federal income tax at statutory rate | 34 | % | 34 | % | 34 | % | ||||||||||
State income taxes, net of federal tax effect | 0.5 | 0.4 | 0.7 | |||||||||||||
Valuation allowance | (33.6 | ) | (207.1 | ) | (138.7 | ) | ||||||||||
Permanent differences | (0.4 | ) | (7.6 | ) | (0.3 | ) | ||||||||||
Return to provision | (1.5 | ) | (6.1 | ) | (8.2 | ) | ||||||||||
Rate change | 0.2 | (0.1 | ) | - | ||||||||||||
Other | (3.0 | ) | (1.4 | ) | 1 | |||||||||||
Effective tax rate (continuing operations) | (3.8 | )% | (187.9 | )% | (111.5 | )% | ||||||||||
The change in the effective tax rate from fiscal 2013 to fiscal 2014 is principally attributable to the fact that the Company recorded a full valuation allowance against its deferred tax assets, described below, in fiscal 2013. The change in the effective tax rate from fiscal 2012 to fiscal 2013 is principally attributable to the fact that the Company had a loss before taxes of $6.2 million in fiscal 2013 compared to a loss before taxes of $10.0 million in fiscal 2012 for continuing operations. | ||||||||||||||||
For the year ended March 31, 2014 the Company recorded income tax expense from discontinued operations of $27,000. The effective tax rate applied to discontinued operations for the year ended March 31, 2014 was (0.1%). | ||||||||||||||||
Deferred income taxes reflect the available tax carryforwards and the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets as of March 31, 2014 and 2013 are as follows (in thousands): | ||||||||||||||||
Years ended March 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Deferred tax assets | ||||||||||||||||
Collectability reserves | $ | 158 | $ | 1,389 | ||||||||||||
Reserve for inventory write-off | 606 | 474 | ||||||||||||||
Reserve for sales discounts | 179 | 116 | ||||||||||||||
Accrued vacations | 41 | 39 | ||||||||||||||
Inventory — uniform capitalization | 273 | 132 | ||||||||||||||
Net operating loss carryforward | 37,743 | 30,663 | ||||||||||||||
Stock based compensation | 895 | 626 | ||||||||||||||
Book/tax intangibles amortization | - | - | ||||||||||||||
Other | 3,252 | 3,624 | ||||||||||||||
Total deferred tax assets | 43,147 | 37,063 | ||||||||||||||
Deferred tax liabilities | ||||||||||||||||
Book/tax depreciation | (1,292 | ) | (2,899 | ) | ||||||||||||
Book/tax intangibles amortization | (3,672 | ) | (5,135 | ) | ||||||||||||
Net deferred tax assets (liabilities) | 38,183 | 29,029 | ||||||||||||||
Valuation allowance | (39,462 | ) | (30,308 | ) | ||||||||||||
Total deferred tax asset (liability), net | $ | (1,279 | ) | $ | (1,279 | ) | ||||||||||
At March 31, 2014 and 2013, the Company had federal net operating loss carryforwards of $100.8 million and $82.8 million, respectively, which will begin to expire in 2029. The Company had foreign tax credit carryforwards of $413,000 at both March 31, 2014 and 2013, which will begin to expire in 2016. | ||||||||||||||||
Deferred tax assets are evaluated by considering historical levels of income, estimates of future taxable income streams and the impact of tax planning strategies. A valuation allowance is recorded to reduce deferred tax assets when it is determined that it is more likely than not, based on the weight of available evidence, the Company would not be able to realize all or part of its deferred tax assets. An assessment is required of all available evidence, both positive and negative, to determine the amount of any required valuation allowance. | ||||||||||||||||
As a result of the current market conditions and their impact on the Company’s future outlook, management has reviewed its deferred tax assets and concluded that the uncertainties related to the realization of some of its assets, have become unfavorable. As of March 31, 2014 and March 31, 2013, the Company had a net deferred tax asset position before valuation allowance of $38.2 million and $29.0 million, respectively, which is composed of temporary differences, primarily related to net operating loss carryforwards, which will begin to expire in fiscal 2029. The Company also has foreign tax credit carryforwards which will begin to expire in 2016. The Company has considered the positive and negative evidence for the potential utilization of the net deferred tax assets and has concluded that it is more likely than not that the Company will not realize the full amount of net deferred tax assets. Accordingly, a valuation allowance of $39.5 million and $30.3 million has been recorded as of March 31, 2014 and March 31, 2013. | ||||||||||||||||
The Company does not consider any foreign earnings as permanently reinvested in foreign jurisdictions and records deferred tax liabilities for temporary differences related to its foreign operations. | ||||||||||||||||
The Company recognizes interest accrued related to unrecognized income tax benefits (“UTB’s”) in the provision for income taxes. As of March 31, 2014, interest accrued was $182,000 and total UTB’s, net of deferred federal and state income tax benefits that would impact the effective tax rate, if recognized, were $555,000. During fiscal 2014, $140,000 of UTB’s were reversed. As of March 31, 2013, interest accrued was $152,000 and total UTB’s, net of deferred federal and state income tax benefits that would impact the effective tax rate, if recognized, were $499,000. | ||||||||||||||||
The Company’s U.S. federal income tax returns for tax years ending in 2011 and 2013 remain subject to examination by tax authorities. The Company’s Canadian income tax return for tax years ending in 2004 through 2013 remain subject to examination by tax authorities The Company files in numerous state jurisdictions with varying statutes of limitations. The Company does not anticipate that the total unrecognized tax benefits will significantly change prior to March 31, 2015. | ||||||||||||||||
The following table summarizes the activity related to the Company’s unrecognized tax benefits (in thousands): | ||||||||||||||||
Years ended March 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Income taxes payable, beginning of period | $ | 1,085 | $ | 1,061 | ||||||||||||
Gross increases related to prior year tax positions | 139 | 123 | ||||||||||||||
Gross increases related to current year tax positions | 41 | 41 | ||||||||||||||
Decrease related to statute of limitations lapses | (140 | ) | (140 | ) | ||||||||||||
Income taxes payable, end of period | $ | 1,125 | $ | 1,085 | ||||||||||||
Subsequent to March 31, 2013, the Internal Revenue Service completed an examination of the Company’s federal income tax return for the tax year ended 2011. The examination resulted in a reduction of the Company’s net operating loss carryforward of $2.2 million. The Company’s federal income tax return for tax year ending in 2012 remains subject to examination by tax authorities. The Company files in numerous state jurisdictions with varying statutes of limitations. The Company does not anticipate that the total unrecognized tax benefits will significantly change prior to March 31, 2014. |
Note_15_Shareholders_Equity
Note 15 - Shareholders' Equity | 12 Months Ended |
Mar. 31, 2014 | |
Stockholders' Equity Note [Abstract] | ' |
Stockholders' Equity Note Disclosure [Text Block] | ' |
Note 15 Shareholders’ Equity | |
The Company’s Articles of Incorporation authorize 10,000,000 shares of preferred stock, no par value. No preferred shares are issued or outstanding. | |
On June 3, 2014, the Company closed a private offering with institutional investors for approximately $10 million of the Company's Series C Preferred Stock. Under the terms of the offering, Speed Commerce sold an aggregate of 3,333,333 shares of the Company's Series C Preferred Stock and issued five-year warrants to purchase an additional 833,333 shares of Common Stock for $3.50 per share and related warrants, for an aggregate purchase price of $10 million. The net proceeds of the offering will be used to pay down indebtedness and for general corporate purposes. | |
In October 2013, the Company issued 8,000,000 shares of its common stock at a price of $3.00 per share in public offering. Net proceeds to the Company after underwriting discounts and commissions and offering expenses were approximately $21.8 million. | |
The Company did not repurchase any shares during the years ended March 31, 2014, 2013 or 2012. |
Note_16_ShareBased_Compensatio
Note 16 - Share-Based Compensation | 12 Months Ended | ||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||||
Note 16 Share-Based Compensation | |||||||||||||||||||
The Company has equity compensation plans: the Speed Commerce 1992 Stock Option Plan and the Speed Commerce 2004 Stock Plan (collectively, “the Plans”). The 2004 Plan provides for equity awards, including stock options, restricted stock and restricted stock units. Eligible participants under the 2004 Plan are all employees (including officers and directors), non-employee directors, consultants and independent contractors. The 1992 Plan expired on July 1, 2006, and no further grants are allowed under this Plan, however, there are 18,500 outstanding options under this Plan as of March 31, 2014. | |||||||||||||||||||
Equity Compensation Plans | |||||||||||||||||||
The Company currently grants stock options, restricted stock and restricted stock units under an equity compensation plan. The Company adopted the 2004 Stock Plan to attract and retain eligible persons to perform services for the Company. Eligible recipients include all employees, without limitation, officers and directors who are also employees as well as non-employee directors, consultants and independent contractors or employees of any of the Company’s subsidiaries. A maximum number of 7.5 million shares of common stock have been authorized and reserved for issuance under the 2004 Stock Plan. The number of shares authorized may also be increased from time to time by approval of the Board of Directors and the shareholders. The 2004 Stock Plan terminates in September 2014. There were approximately 1.7 million shares available for future grant under the 2004 Stock Plan at March 31, 2014. | |||||||||||||||||||
The Company is authorized to grant, among other equity instruments, stock options and restricted stock under the 2004 Stock Plan. Stock options have a maximum term fixed by the Compensation Committee of the Board of Directors, not to exceed 10 years from the date of grant. Stock options become exercisable during their terms in the manner determined by the Compensation Committee of the Board of Directors. Vesting for performance-based stock awards is subject to the performance criteria being achieved. | |||||||||||||||||||
Restricted stock awards are non-vested stock awards that may include grants of restricted stock or restricted stock units. Restricted stock awards are independent of option grants and are generally subject to forfeiture if employment terminates prior to the release of the restrictions. Such awards vest as determined by the Compensation Committee of the Board of Directors, depending on the grant. Prior to vesting, ownership of the shares cannot be transferred. The Company expenses the cost of the restricted stock awards, which is the grant date fair value, ratably over the period during which the restrictions lapse. The grant date fair value is based on the Company’s opening stock price on the date of grant. | |||||||||||||||||||
In each fiscal 2014, 2013 and 2012, each director who is not an employee of the Company was granted an option to purchase 12,000 shares of common stock under the 2004 Stock Plan on April 1 of the applicable fiscal year, with an exercise price equal to fair market value. One newly appointed non-employee director was granted an option to purchase 50,000 shares of common stock in fiscal 2014. These options are designated as non-qualified stock options. Each option granted prior to September 15, 2005, vests in five annual increments of 20% of the original option grant beginning one year from the date of grant and expires on the earlier of (i) six years from the date of the grant, and (ii) one year after the person ceases to serve as a director. Each option granted on or after September 15, 2005, vests in three annual increments of 33 1/3% of the original option grant beginning one year from the date of grant, expires on the earlier of (i) ten years from the date of grant, and (ii) one year after the person ceases to serve as a director, and provides for the acceleration of vesting if the person ceases to serve as a director as a result of the Company’s mandatory director retirement policy. | |||||||||||||||||||
The Company is entitled to (a) withhold and deduct from future wages of the participant (or from other amounts that may be due and owing to the participant from the Company), or (b) make other arrangements for the collection of all legally required amounts necessary to satisfy any and all federal, state and local withholding and employment-related tax requirements (i) attributable to the grant or exercise of an option or a restricted stock award or to a disqualifying disposition of stock received upon exercise of an incentive stock option, or (ii) otherwise incurred with respect to an option or a restricted stock award, or (iii) require the participant promptly to remit the amount of such withholding to the Company before taking any action with respect to an option or a restricted stock award. | |||||||||||||||||||
Stock Options | |||||||||||||||||||
A summary of the Company’s stock option activity as of March 31, 2014 as follows: | |||||||||||||||||||
Year ended | |||||||||||||||||||
31-Mar-14 | |||||||||||||||||||
Number of options | Weighted average exercise price | ||||||||||||||||||
Options outstanding, beginning of period | 2,904,061 | $ | 1.93 | ||||||||||||||||
Granted | 841,511 | 3.25 | |||||||||||||||||
Exercised | (206,674 | ) | 1.7 | ||||||||||||||||
Forfeited or expired | (379,159 | ) | 2.11 | ||||||||||||||||
Options outstanding, end of period | 3,159,739 | $ | 2.28 | ||||||||||||||||
Options exercisable, end of period | 1,433,077 | $ | 2.04 | ||||||||||||||||
Shares available for future grant, end of period | 1,697,000 | ||||||||||||||||||
The weighted average fair value of options granted during the year ended March 31, 2014, 2013 and 2012 was $1.6 million, $1.3 million and $1.1 million, respectively, and the total fair value of options exercisable was $1.8 million at March 31, 2014. The weighted average remaining contractual term for options outstanding was 7.8 years and for options exercisable was 6.6 years at March 31, 2014. | |||||||||||||||||||
The aggregate intrinsic value represents the total pretax intrinsic value, based on the Company’s closing stock price of $3.64 as of March 31, 2014, which theoretically could have been received by the option holders had all option holders exercised their options as of that date. The total intrinsic value of stock options exercised during the years ended March 31, 2014, 2013 and 2012 was $440,000, $82,000 and $362,000, respectively. The aggregate intrinsic value for options outstanding was $4.4 million and for options exercisable was $2.4 million at March 31, 2014. The aggregate intrinsic value for options outstanding was $1.4 million and for options exercisable was $399,000 at March 31, 2013. The aggregate intrinsic value for options outstanding was $235,000 and for options exercisable was $132,000 at March 31, 2012. | |||||||||||||||||||
As of March 31, 2014, total compensation cost related to non-vested stock options not yet recognized was $2.4 million, which is expected to be recognized over the next 1.2 years on a weighted-average basis. | |||||||||||||||||||
During the years ended March 31, 2014, 2013 and 2012, the Company received cash from the exercise of stock options totaling $338,000, $90,000 and $27,000, respectively. There was no excess tax benefit recorded for the tax deductions related to stock options during either the years ended March 31, 2014, 2013 or 2012. | |||||||||||||||||||
Restricted Stock | |||||||||||||||||||
Restricted stock granted to employees typically has a vesting period of three years and expense is recognized on a straight-line basis over the vesting period, or when the performance criteria have been met. The value of the restricted stock is established based on the market price on the date of the grant or if based on performance criteria, on the date it is determined the performance criteria will be met. Restricted stock awards vesting is based on service criteria or achievement of performance targets. All restricted stock awards are settled in shares of common stock. | |||||||||||||||||||
A summary of the Company’s restricted stock activity as of March 31, 2014 as follows: | |||||||||||||||||||
Year ended | |||||||||||||||||||
31-Mar-14 | |||||||||||||||||||
Shares | Weighted average grant date fair value | ||||||||||||||||||
Unvested, beginning of period | 574,865 | $ | 1.73 | ||||||||||||||||
Granted | 434,640 | 3.35 | |||||||||||||||||
Vested | (194,338 | ) | 1.75 | ||||||||||||||||
Forfeited | (113,198 | ) | 1.76 | ||||||||||||||||
Unvested, end of period | 701,969 | $ | 2.72 | ||||||||||||||||
The total fair value of restricted stock awards granted during the year ended March 31, 2014 was $1.5 million. | |||||||||||||||||||
The total fair value of restricted stock awards vested during the years ended March 31, 2014, 2013 and 2012 was approximately $340,000, $240,000 and $719,000, respectively. | |||||||||||||||||||
As of March 31, 2014, total compensation cost related to non-vested restricted stock awards not yet recognized was $1.8 million which is expected to be recognized over the next 1.3 years on a weighted-average basis. There was no excess tax benefit recorded for the tax deductions related to restricted stock during the years ended March 31, 2014, 2013 or 2012. | |||||||||||||||||||
Share-Based Compensation Valuation and Expense Information | |||||||||||||||||||
The Company uses the Black-Scholes option pricing model to calculate the grant-date fair value of an option award. The fair value of options granted during the years ended March 31, 2014, 2013 and 2012 were calculated using the following assumptions: | |||||||||||||||||||
Year | Year | Year | |||||||||||||||||
Ended | Ended | Ended | |||||||||||||||||
March 31, | March 31, | March 31, | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Expected life (in years) | 5 | 5 | - | 6.5 | 5 | - | 6.5 | ||||||||||||
Expected volatility | 60.8 | - | 65.40% | 64.3 | - | 70.10% | 68% | ||||||||||||
Risk-free interest rate | 0.76 | - | 1.55% | 0.62 | - | 1.25% | 0.8 | - | 2.24% | ||||||||||
Expected dividend yield | 0.00% | 0.00% | 0.00% | ||||||||||||||||
Expected life uses historical employee exercise and option expiration data to estimate the expected life assumption for the Black-Scholes grant-date valuation. The Company believes this historical data is currently the best estimate of the expected term of a new option. The Company uses a weighted-average expected life for all awards and has identified one employee population. Expected volatility uses the Company’s stock historical volatility for the same period of time as the expected life. The Company has no reason to believe that its future volatility will differ from the past. The risk-free interest rate is based on the U.S. Treasury rate in effect at the time of the grant for the same period of time as the expected life. Expected dividend yield is zero, as the Company historically has not paid dividends. The Company used a forfeiture rate of 4.63% during each of the years ended March 31, 2014, 2013 and 2012. | |||||||||||||||||||
Share-based compensation expense related to employee stock options, restricted stock and restricted stock units, net of estimated forfeitures for the years ended March 31, 2014, 2013 and 2012 was $1.0 million, $793,000 and $803,000, respectively. These amounts are included in general and administrative expenses in the Consolidated Statements of Operations. No amount of share-based compensation was capitalized. | |||||||||||||||||||
Share-based compensation expense related to employee stock options, restricted stock and restricted stock units, net of estimated forfeitures reclassified as discontinued operations were $284,000, $190,000 and $368,000 for the years ended March 31, 2014, 2013 and 2012 was, respectively. |
Note_17_Related_Party_Transact
Note 17 - Related Party Transactions | 12 Months Ended |
Mar. 31, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
Note 17 Related Party Transactions | |
Employment/Severance Agreements | |
On April 6, 2011, the Board of Directors of the Company terminated the employment of the President and Chief Executive Officer, Cary L. Deacon. The Company recognized approximately $1.4 million in expense during fiscal 2012, which was paid in fiscal 2012, related to severance costs arising out of the termination of Mr. Deacon’s employment. |
Note_18_Major_Customers_and_Ve
Note 18 - Major Customers and Vendors | 12 Months Ended |
Mar. 31, 2014 | |
Risks and Uncertainties [Abstract] | ' |
Concentration Risk Disclosure [Text Block] | ' |
Note 18 Major Customers and Vendors | |
The Company has two major customers who accounted for 36.2% of consolidated net sales from continuing operations for fiscal 2014 and 33.3% for fiscal 2013. Accounts receivable from these two customers totaled $3.6 million and $3.4 million at March 31, 2014 and 2013, respectively. | |
The Company has two major vendors who accounted for approximately $34.8 million in net sales in the fiscal years ended March 31, 2014. |
Note_19_Quarterly_Data_Seasona
Note 19 - Quarterly Data - Seasonality (Unaudited) | 12 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Financial Information [Text Block] | ' | ||||||||||||||||
Note 19 Quarterly Data — Seasonality (Unaudited) | |||||||||||||||||
The Company’s quarterly operating results fluctuate significantly and will likely do so in the future as a result of seasonal variations of our clients’ products ultimately sold at retail. The Company’s business is affected by the pattern of seasonality common to other suppliers of retailers, particularly the holiday selling season. Traditionally, the Company’s third quarter (October 1-December 31) has accounted for its largest quarterly revenue figures and a substantial portion of its earnings. The Company’s third quarter accounted for 30.4% and 39.2% of its net revenues for the years ended March 31, 2014 and 2013, respectively. | |||||||||||||||||
The following table sets forth certain unaudited quarterly historical financial data of the Company’s operations on a consolidated basis for each of the four quarters in the years ended March 31, 2014 and 2013 (in thousands, except per share amounts): | |||||||||||||||||
Quarter Ended | |||||||||||||||||
Fiscal Year 2014 | 30-Jun | 30-Sep | 31-Dec | 31-Mar | |||||||||||||
Net revenue | $ | 22,016 | $ | 28,562 | $ | 32,576 | $ | 23,925 | |||||||||
Operating loss | (706 | ) | (967 | ) | (2,503 | ) | (1,549 | ) | |||||||||
Net loss | (3,836 | ) | (2,700 | ) | (1,048 | ) | (18,982 | ) | |||||||||
Basic loss per common share | $ | (0.07 | ) | $ | (0.05 | ) | $ | (0.02 | ) | $ | (0.30 | ) | |||||
Diluted loss per common share | $ | (0.07 | ) | $ | (0.05 | ) | $ | (0.02 | ) | $ | (0.30 | ) | |||||
Quarter Ended | |||||||||||||||||
Fiscal Year 2013 | 30-Jun | 30-Sep | 31-Dec | 31-Mar | |||||||||||||
Net revenue | $ | 4,448 | $ | 7,251 | $ | 21,366 | $ | 21,435 | |||||||||
Operating income (loss) | (1,670 | ) | (1,251 | ) | (1,123 | ) | (1,064 | ) | |||||||||
Net income (loss) | (382 | ) | 1,125 | 2,007 | (14,513 | ) | |||||||||||
Basic loss per common share | $ | (0.01 | ) | $ | 0.03 | $ | 0.04 | $ | (0.26 | ) | |||||||
Diluted loss per common share | $ | (0.01 | ) | $ | 0.03 | $ | 0.04 | $ | (0.26 | ) | |||||||
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Consolidation, Policy [Policy Text Block] | ' | ||||||||||||
Basis of Consolidation | |||||||||||||
The consolidated financial statements include the accounts of Speed Commerce and its wholly-owned subsidiaries (collectively referred to herein as the “Company”). All inter-company accounts and transactions have been eliminated in consolidation. The results of operations, assets and liabilities of distribution business segment for all periods are classified as discontinued operations. | |||||||||||||
Segment Reporting, Policy [Policy Text Block] | ' | ||||||||||||
Segment Reporting | |||||||||||||
As a result of the presentation of Distribution business as discontinued operations, we only have one reportable segment as of March 31, 2014. | |||||||||||||
Fiscal Period, Policy [Policy Text Block] | ' | ||||||||||||
Fiscal Year | |||||||||||||
References in these footnotes to fiscal 2014, 2013 and 2012 represent the twelve months ended March 31, 2014, March 31, 2013 and March 31, 2012, respectively. | |||||||||||||
Use of Estimates, Policy [Policy Text Block] | ' | ||||||||||||
Use of Estimates | |||||||||||||
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the realizability of accounts receivable, goodwill, intangible assets, and the adequacy of certain accrued liabilities and reserves. Actual results could differ from these estimates. | |||||||||||||
Reclassification, Policy [Policy Text Block] | ' | ||||||||||||
Reclassifications | |||||||||||||
The Company has reclassified prior period amounts to conform to the current period’s presentation as discontinued operations in the consolidated financial statements for all periods presented. | |||||||||||||
Fair Value Measurement, Policy [Policy Text Block] | ' | ||||||||||||
Fair Value | |||||||||||||
Fair value is determined utilizing a hierarchy of valuation techniques. The three levels of the fair value hierarchy are as follows: | |||||||||||||
● | Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities | ||||||||||||
● | Level 2: Inputs, other than quoted prices, that are observable for the asset or liability, either directly or indirectly; these include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active | ||||||||||||
● | Level 3: Unobservable inputs that reflect the reporting entity’s own assumptions | ||||||||||||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | ||||||||||||
Fair Value of Financial Instruments | |||||||||||||
The carrying value of the Company’s financial assets and liabilities approximates fair value at March 31, 2014 and March 31, 2013. The fair value of assets and liabilities whose carrying value approximates fair value is determined using Level 2 inputs, with the exception of cash (Level 1), contingent payment obligation (Level 3, Note 3) and contingent common stock obligation (Level 3, Note 3). | |||||||||||||
The following table provides a reconciliation of the beginning and ending balances for the obligation liabilities measured at fair value using significant unobservable inputs (Level 3) | |||||||||||||
Due to Seller | |||||||||||||
Balance at March 31, 2013 | $ | 3,371 | |||||||||||
Increase related to acquisition (Note 3) | - | ||||||||||||
Payment of contingent obligation | (887 | ) | |||||||||||
Change in fair value | - | ||||||||||||
Balance at March 31, 2014 | $ | 2,484 | |||||||||||
Nonrecurring Fair Value Measurements | |||||||||||||
The purchase price of business acquisitions is primarily allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition dates, with the excess recorded as goodwill. The Company utilizes Level 3 inputs in the determination of the initial fair value of all assets and liabilities. Non-financial assets such as goodwill, intangible assets, software development costs and property and equipment are subsequently measured at fair value when there is an indicator of impairment and recorded at fair value only when impairment is recognized. The Company assesses the impairment of intangible assets annually or whenever events or changes in circumstances indicate that the carrying amount of an intangible asset may not be recoverable. The fair value of our goodwill and intangible assets is not estimated if there is no change in events or circumstances that indicate the carrying amount of an intangible asset may not be recoverable. | |||||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||||||||||||
Cash and Cash Equivalents | |||||||||||||
The Company considers short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The balances in cash accounts, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents. | |||||||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | ||||||||||||
Property and Equipment | |||||||||||||
Property and equipment are recorded at cost. Depreciation is recorded, using the straight-line method over estimated useful lives, ranging from one to ten years. Depreciation is computed using the straight-line method for leasehold improvements over the shorter of the lease term or the estimated useful life. Estimated useful lives by major asset categories are generally as follows: | |||||||||||||
Asset | Life in Years | ||||||||||||
Furniture and fixtures | 7 | ||||||||||||
Office equipment | 10 | ||||||||||||
Computer equipment | 3 | - | 6 | ||||||||||
Warehouse equipment | 5 | - | 10 | ||||||||||
Leasehold improvements | 1 | - | 10 | ||||||||||
Maintenance, repairs and minor renewals are charged to expense as incurred. Additions, major renewals and property and equipment improvements are capitalized. | |||||||||||||
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | ' | ||||||||||||
Impairment of Long-Lived Assets | |||||||||||||
Long-lived assets, such as property and equipment, are evaluated for impairment whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable. An impairment loss is recognized when estimated undiscounted cash flows expected to result from the use of the asset plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. When an impairment loss is recognized, the carrying amount of the asset is reduced to its estimated fair value. Fair value is generally determined using a discounted cash flow analysis. | |||||||||||||
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | ' | ||||||||||||
Goodwill | |||||||||||||
Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations accounted for under the purchase method. The Company reviews goodwill for potential impairment annually for each reporting unit or when events or changes in circumstances indicate the carrying value of the goodwill might exceed its current fair value. We evaluate impairment of goodwill by first performing a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Factors which may cause impairment include negative industry or economic trends and significant underperformance relative to historical or projected future operating results. The Company determines fair value using widely accepted valuation techniques, including discounted cash flow and market multiple analyses. The amount of impairment loss is recognized as the excess of the asset’s carrying value over its fair value. | |||||||||||||
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | ' | ||||||||||||
Intangible Assets | |||||||||||||
Intangible assets include trademarks, developed technology, customer relationships, and a domain name. Intangible assets (except for trademarks) are amortized on a straight-line basis with estimated useful lives ranging from three to eight years. The straight-line method of amortization of these assets reflects an appropriate allocation of the costs of the intangible assets to its useful life. Intangible assets are tested for impairment whenever events or circumstances indicate that a carrying amount of an asset may not be recoverable. An impairment loss is generally recognized when the carrying amount of an asset exceeds the estimated fair value of the asset. Fair value is generally determined using a discounted cash flow analysis. | |||||||||||||
Trademarks are deemed to have indefinite lives and are evaluated for impairment annually. | |||||||||||||
Software acquired or developed for internal-use is deferred and capitalized during application development stage and is amortized on a straight-line basis over its useful life between three and five years. | |||||||||||||
Lease, Policy [Policy Text Block] | ' | ||||||||||||
Operating Leases | |||||||||||||
The Company conducts substantially all operations in leased facilities. Leasehold allowances, rent holidays and escalating rent provisions are accounted for on a straight-line basis over the term of the lease. The portion of deferred rent due in twelve months or less is considered short-term and is included in accrued expenses in the accompanying Consolidated Balance Sheets. The long-term portion is included in other liabilities — long-term. | |||||||||||||
Revenue Recognition, Policy [Policy Text Block] | ' | ||||||||||||
Revenue Recognition | |||||||||||||
Revenue for the Company is recognized based on terms of service within the customer contract. A portion of the Company’s service revenue arrangements include upfront service elements, such as web implementation and migration, and recurring service elements such as web site support, e-commerce fulfillment services and additional services. The Company does not earn or receive any commissions from its customers. Fees related to upfront contract services, such as web site implementation and migration, are deferred and recognized ratably over the expected term of the relationship with the customer, beginning when delivery of recurring services has occurred. Costs associated with the upfront contract fees are deferred and recognized consistent with the recognition of revenues. Recurring contract service elements are charged based on the number of transactions processed and recognized as the services are performed as measured by the volume of orders completed. We record all taxes imposed directly on revenue-producing transactions on a gross basis. | |||||||||||||
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | ' | ||||||||||||
Accounts Receivable and Allowance for Doubtful Accounts | |||||||||||||
Accounts receivable represent trade receivables from customers when we have invoiced for services and we have not yet received payment. We present accounts receivable net of an allowance for doubtful accounts. We maintain an allowance for doubtful accounts for estimated losses resulting from the inability of customers to make required payments. In doing so, we consider the current financial condition of the customer, the specific details of the customer account, the age of the outstanding balance, the current economic environment and historical credit trends. The Company writes off accounts receivable when they become uncollectible, and payments subsequently received on such receivables are credited to the allowance for doubtful accounts. Although risk management practices and methodologies are utilized to determine the adequacy of the allowance, it is possible that the accuracy of the estimation process could be materially impacted by different judgments as to collectability based on the information considered and further deterioration of accounts. | |||||||||||||
Shipping and Handling Cost, Policy [Policy Text Block] | ' | ||||||||||||
Shipping Costs | |||||||||||||
Shipping costs incurred by the e-commerce and fulfillments services related to providing logistical services are classified in cost of sales. | |||||||||||||
Income Tax, Policy [Policy Text Block] | ' | ||||||||||||
Income Taxes | |||||||||||||
Income taxes are recorded under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Management assesses the likelihood that deferred tax assets will be recovered from future taxable income and establishes a valuation allowance when management believes recovery is not likely. | |||||||||||||
The Company records estimated penalties and interest related to income tax matters, including uncertain tax positions as a component of income tax expense. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant tax authority. | |||||||||||||
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' | ||||||||||||
Concentration of Credit Risk | |||||||||||||
Financial instruments that potentially expose the Company to concentrations of credit risk include cash, cash equivalents and accounts receivable. The Company maintains substantially all of its cash and cash equivalents with one financial institution, which management believes has a high credit standing. To manage credit risk related to accounts receivable, the Company evaluates the allowances for potential credit losses. To date, losses resulting from uncollected receivables have not exceeded management’s expectations. | |||||||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | ||||||||||||
Stock-Based Compensation | |||||||||||||
The Company has a stock-based compensation plan for officers, non-employee directors and key employees. The Company measures the cost of employee services received in exchange for the award of equity instruments based on the fair value of the award at the date of grant. The cost is to be recognized over the period during which an employee is required to provide services in exchange for the award. The Company’s common stock is purchased by the optionee upon the exercise of stock options, and restricted stock awards are settled in shares of the Company’s common stock. | |||||||||||||
Earnings Per Share, Policy [Policy Text Block] | ' | ||||||||||||
Earnings (Loss) Per Share | |||||||||||||
Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the year. Diluted earnings (loss) per share is computed by dividing net income (loss) by the sum of the weighted average number of common shares outstanding during the year plus all additional common shares that would have been outstanding if potentially dilutive common shares related to stock options, restricted stock and warrants had been issued. The following table sets forth the computation of basic and diluted earnings (loss) per share (in thousands, except for per share data): | |||||||||||||
Years ended March 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Numerator: | |||||||||||||
Net loss from continuing operations | $ | (7,869 | ) | $ | (17,922 | ) | $ | (21,102 | ) | ||||
Income (loss) from discontinued operations, net of tax | (18,697 | ) | 6,125 | (13,198 | ) | ||||||||
Net loss | $ | (26,566 | ) | $ | (11,797 | ) | $ | (34,300 | ) | ||||
Denominator: | |||||||||||||
Denominator for basic loss per share — weighted average shares | 60,775 | 43,529 | 36,877 | ||||||||||
Denominator for diluted loss per share — weighted-average shares | 60,775 | 43,529 | 36,877 | ||||||||||
Basic earnings (loss) per common share | |||||||||||||
Continuing operations | $ | (0.13 | ) | $ | (0.41 | ) | $ | (0.57 | ) | ||||
Discontinued operations | (0.31 | ) | 0.14 | (0.36 | ) | ||||||||
Net income (loss) | $ | (0.44 | ) | $ | (0.27 | ) | $ | (0.93 | ) | ||||
Diluted earnings (loss) per common share | |||||||||||||
Continuing operations | $ | (0.13 | ) | $ | (0.41 | ) | $ | (0.57 | ) | ||||
Discontinued operations | (0.31 | ) | 0.14 | (0.36 | ) | ||||||||
Net income (loss) | $ | (0.44 | ) | $ | (0.27 | ) | $ | (0.93 | ) | ||||
Due to the Company’s net loss for the years ended March 31, 2014, 2013 and 2012, diluted loss per share from continuing operations excludes 1.8 million, 2.6 million and 2.8 million, respectively, stock options and restricted stock awards because their inclusion would have been anti-dilutive. | |||||||||||||
Costs Associated with Exit or Disposal Activities or Restructurings, Policy [Policy Text Block] | ' | ||||||||||||
Transition and Transaction Plan | |||||||||||||
During April 2013, the Company implemented a series of initiatives in connection with the integration of SCC. These included a reduction in workforce and a consolidation of business structures and processes across the Company's operations. These integration initiatives resulted in, among other things, the Company's determination to close its Minneapolis, MN distribution facility; the leasing of expanded distribution and fulfillment facilities in Columbus, OH and the leasing of new offices in Dallas, TX; and the transition of certain corporate functions from Minneapolis to Dallas. The Company completed these initiatives in fiscal year 2014 and incurred $20.2 million of which $9.0 million is included as part of loss on discontinued operations in transition and transaction costs during the fiscal 2014. In addition, the Company recognized within loss on discontinued operations $4.5 million related exit costs, related to the unexpired lease terms of its Minneapolis, MN distribution facility as asset impairments in fiscal 2014. | |||||||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | ||||||||||||
Recent Accounting Pronouncements | |||||||||||||
In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-11, Presentation of Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, an amendment to FASB Accounting Standards Codification (“ASC”) Topic 740, Income Taxes (“FASB ASC Topic 740”). This update clarifies that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations where a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction or the tax law of the jurisdiction does not require, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This ASU is effective for the Company’s annual and quarterly reporting periods ending after April 1, 2014. Retrospective application is permitted. The Company is currently evaluating the impact on its consolidated financial statements and financial statement disclosures. |
Note_2_Summary_of_Significant_1
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||
Due to Seller | |||||||||||||
Balance at March 31, 2013 | $ | 3,371 | |||||||||||
Increase related to acquisition (Note 3) | - | ||||||||||||
Payment of contingent obligation | (887 | ) | |||||||||||
Change in fair value | - | ||||||||||||
Balance at March 31, 2014 | $ | 2,484 | |||||||||||
Property, Plant And Equipment, Useful Lives [Table Text Block] | ' | ||||||||||||
Asset | Life in Years | ||||||||||||
Furniture and fixtures | 7 | ||||||||||||
Office equipment | 10 | ||||||||||||
Computer equipment | 3 | - | 6 | ||||||||||
Warehouse equipment | 5 | - | 10 | ||||||||||
Leasehold improvements | 1 | - | 10 | ||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||
Years ended March 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Numerator: | |||||||||||||
Net loss from continuing operations | $ | (7,869 | ) | $ | (17,922 | ) | $ | (21,102 | ) | ||||
Income (loss) from discontinued operations, net of tax | (18,697 | ) | 6,125 | (13,198 | ) | ||||||||
Net loss | $ | (26,566 | ) | $ | (11,797 | ) | $ | (34,300 | ) | ||||
Denominator: | |||||||||||||
Denominator for basic loss per share — weighted average shares | 60,775 | 43,529 | 36,877 | ||||||||||
Denominator for diluted loss per share — weighted-average shares | 60,775 | 43,529 | 36,877 | ||||||||||
Basic earnings (loss) per common share | |||||||||||||
Continuing operations | $ | (0.13 | ) | $ | (0.41 | ) | $ | (0.57 | ) | ||||
Discontinued operations | (0.31 | ) | 0.14 | (0.36 | ) | ||||||||
Net income (loss) | $ | (0.44 | ) | $ | (0.27 | ) | $ | (0.93 | ) | ||||
Diluted earnings (loss) per common share | |||||||||||||
Continuing operations | $ | (0.13 | ) | $ | (0.41 | ) | $ | (0.57 | ) | ||||
Discontinued operations | (0.31 | ) | 0.14 | (0.36 | ) | ||||||||
Net income (loss) | $ | (0.44 | ) | $ | (0.27 | ) | $ | (0.93 | ) |
Note_3_Acquisition_Tables
Note 3 - Acquisition (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | ||||||||
Consideration: | |||||||||
Cash | $ | 23,657 | |||||||
Common stock | 21,250 | ||||||||
Contingent payment obligation | 3,981 | ||||||||
Contingent common stock obligation | 3,383 | ||||||||
Fair value of total consideration transferred | $ | 52,271 | |||||||
The SCC purchase price was allocated as follows: | |||||||||
Accounts receivable | $ | 11,732 | |||||||
Prepaid expenses and other assets | 624 | ||||||||
Property and equipment | 7,075 | ||||||||
Purchased intangibles | 22,250 | ||||||||
Goodwill | 30,647 | ||||||||
Accounts payable | (6,106 | ) | |||||||
Accrued expenses and other liabilities | (4,056 | ) | |||||||
Deferred tax liability | (9,895 | ) | |||||||
$ | 52,271 | ||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | ||||||||
Years ended March 31, | |||||||||
2013 | 2012 | ||||||||
Net sales | $ | 97,608 | $ | 60,794 | |||||
Cost of sales | 80,364 | 50,899 | |||||||
Gross profit | 17,244 | 9,895 | |||||||
Operating expenses | 15,540 | 16,767 | |||||||
Income from operations | $ | 1,704 | $ | (6,872 | ) |
Note_4_Discontinued_Operations1
Note 4 - Discontinued Operations (Tables) | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | ||||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | ||||||||||||
Years ended March 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Net revenue | $ | 391,237 | $ | 430,795 | $ | 473,047 | |||||||
Cost of revenue | 359,554 | 388,501 | 429,678 | ||||||||||
Total operating expenses | 50,353 | 36,032 | 57,119 | ||||||||||
Pre-tax income (loss) from discontinued operations | (18,670 | ) | 6,262 | (13,750 | ) | ||||||||
Income tax benefit (expense) | (27 | ) | (137 | ) | 552 | ||||||||
Income (loss) from discontinued operations, net of tax | $ | (18,697 | ) | $ | 6,125 | $ | (13,198 | ) | |||||
Schedule of Disposal Groups, Including Discontinued Operations, Assets of Discontinued Operations and Liabilities Related to Assets of Discontinued Operations [Table Text Block] | ' | ||||||||||||
31-Mar-14 | 31-Mar-13 | ||||||||||||
Accounts receivable, net | $ | 67,494 | $ | 68,597 | |||||||||
Inventories | 33,386 | 34,197 | |||||||||||
Prepaid expenses | 1,398 | 2,170 | |||||||||||
Property and equipment, net | 3,181 | 5,460 | |||||||||||
Software development costs, net | 574 | - | |||||||||||
Goodwill and Intangible assets | - | 1,009 | |||||||||||
Non-current prepaid royalties | 3,261 | 3,966 | |||||||||||
Other non-current assets | 562 | 1,013 | |||||||||||
Assets of discontinued operations | $ | 109,856 | $ | 116,412 | |||||||||
Current liabilities | $ | 88,388 | $ | 98,743 | |||||||||
Other long-term liabilities | 7 | 699 | |||||||||||
Liabilities related to assets of discontinued operations | $ | 88,395 | $ | 99,442 |
Note_5_Supplemental_Cash_Flow_1
Note 5 - Supplemental Cash Flow Information (Tables) | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||||||
Cash Flow, Operating Capital [Table Text Block] | ' | ||||||||||||
31-Mar-14 | 31-Mar-13 | 31-Mar-12 | |||||||||||
Accounts receivable | $ | (3,628 | ) | $ | (297 | ) | $ | (2,488 | ) | ||||
Prepaid expenses | (391 | ) | 643 | 114 | |||||||||
Income taxes receivable | - | 13 | (13 | ) | |||||||||
Other assets | (5,459 | ) | (1,298 | ) | (88 | ) | |||||||
Accounts payable | 1,549 | 2,641 | (68 | ) | |||||||||
Income taxes payable | - | - | (37 | ) | |||||||||
Accrued expenses and other liabilities | 4,583 | (7,126 | ) | 696 | |||||||||
Changes in operating assets and liabilities, net of acquisition | $ | (3,346 | ) | $ | (5,424 | ) | $ | (1,884 | ) |
Note_6_Goodwill_and_Intangible1
Note 6 - Goodwill and Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | ||||||||||||||||||||||||
As of March 31, 2014 | As of March 31, 2013 | ||||||||||||||||||||||||
Gross carrying | Accumulated | Net | Gross carrying | Accumulated | Net | ||||||||||||||||||||
amount | amortization | amount | amortization | ||||||||||||||||||||||
Developed technology | $ | 4,170 | $ | (1,483 | ) | $ | 2,687 | $ | 4,170 | $ | (370 | ) | $ | 3,800 | |||||||||||
Customer relationships | 14,490 | (1,485 | ) | 13,005 | 14,490 | (307 | ) | 14,183 | |||||||||||||||||
Domain name | 135 | (19 | ) | 116 | 135 | - | 135 | ||||||||||||||||||
Internal-use software | 244 | (46 | ) | 198 | 13 | (1 | ) | 12 | |||||||||||||||||
Trademarks (not amortized) | 3,590 | - | 3,590 | 3,590 | - | 3,590 | |||||||||||||||||||
$ | 22,629 | $ | (3,033 | ) | $ | 19,596 | $ | 22,398 | $ | (678 | ) | $ | 21,720 | ||||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | ||||||||||||||||||||||||
2015 | $ | 3,459 | |||||||||||||||||||||||
2016 | 3,948 | ||||||||||||||||||||||||
2017 | 3,149 | ||||||||||||||||||||||||
2018 | 2,146 | ||||||||||||||||||||||||
2019 | 1,501 | ||||||||||||||||||||||||
Thereafter | 1,803 | ||||||||||||||||||||||||
Total | $ | 16,006 | |||||||||||||||||||||||
Schedule of Other Assets [Table Text Block] | ' | ||||||||||||||||||||||||
31-Mar-14 | March 31, 2013 | ||||||||||||||||||||||||
Debt issuance costs | $ | 2,771 | $ | 2,736 | |||||||||||||||||||||
Less: accumulated amortization | (1,848 | ) | (1,525 | ) | |||||||||||||||||||||
Debt issuance costs, net | $ | 923 | $ | 1,211 |
Note_7_Prepaid_Expenses_Tables
Note 7 - Prepaid Expenses (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Prepaid Expenses Disclosure [Abstract] | ' | ||||||||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | ' | ||||||||
31-Mar-14 | March 31, 2013 | ||||||||
Prepaid maintenance and licenses | $ | 450 | $ | 210 | |||||
Other prepaid expenses | 550 | 399 | |||||||
Total prepaid expenses | $ | 1,000 | $ | 609 |
Note_8_Property_and_Equipment_
Note 8 - Property and Equipment (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
31-Mar-14 | March 31, 2013 | ||||||||
Furniture and fixtures | $ | 27 | $ | - | |||||
Computer and office equipment | 5,561 | 3,155 | |||||||
Warehouse equipment | 10,464 | 4,303 | |||||||
Leasehold improvements | 826 | 173 | |||||||
Construction in progress | 2,851 | 1,975 | |||||||
Total | 19,729 | 9,606 | |||||||
Less: accumulated depreciation and amortization | 4,320 | 981 | |||||||
Net property and equipment | $ | 15,409 | $ | 8,625 |
Note_9_Accrued_Expenses_Tables
Note 9 - Accrued Expenses (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | ||||||||
31-Mar-14 | March 31, 2013 | ||||||||
Compensation and benefits | $ | 1,135 | $ | 1,433 | |||||
Accrued interest | 158 | 99 | |||||||
Other | 437 | 392 | |||||||
Total | $ | 1,730 | $ | 1,924 |
Note_11_Commitments_and_Contin1
Note 11 - Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Mar. 31, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | ||||
2015 | $ | 5,145 | |||
2016 | 6,216 | ||||
2017 | 6,351 | ||||
2018 | 5,423 | ||||
2019 | 4,573 | ||||
Thereafter | 15,688 | ||||
Total | $ | 43,396 |
Note_12_Capital_Leases_Tables
Note 12 - Capital Leases (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Leases, Capital [Abstract] | ' | ||||||||
Schedule of Capital Leased Assets [Table Text Block] | ' | ||||||||
31-Mar-14 | 31-Mar-13 | ||||||||
Computer and office equipment | $ | 234 | $ | 193 | |||||
Less: accumulated amortization | 85 | 101 | |||||||
Net property and equipment | $ | 149 | $ | 92 | |||||
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | ' | ||||||||
Minimum Lease Commitments | |||||||||
Year ending March 31: | |||||||||
2015 | $ | 80 | |||||||
2016 | 78 | ||||||||
2017 | 12 | ||||||||
2018 | - | ||||||||
Total minimum lease payments | $ | 170 | |||||||
Less: amounts representing interest at rates ranging from 5.0% to 9.563% | 12 | ||||||||
Present value of minimum capital lease payments, reflected in the balance sheet as current and noncurrent capital lease obligations of $58 and $99, respectively. | $ | 158 |
Note_14_Income_Taxes_Tables
Note 14 - Income Taxes (Tables) | 12 Months Ended | |||||||||||||||
Mar. 31, 2014 | ||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | |||||||||||||||
Years ended March 31, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Income (loss) before income taxes | ||||||||||||||||
United States | $ | (7,759 | ) | $ | (6,340 | ) | $ | (9,978 | ) | |||||||
International | 180 | 117 | - | |||||||||||||
$ | (7,579 | ) | $ | (6,223 | ) | $ | (9,978 | ) | ||||||||
Years ended March 31, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Current | ||||||||||||||||
Federal | $ | 28 | $ | (112 | ) | $ | (157 | ) | ||||||||
Foreign | 54 | 35 | - | |||||||||||||
State | 91 | 110 | 66 | |||||||||||||
Deferred | (2,432 | ) | (1,233 | ) | (2,620 | ) | ||||||||||
Valuation allowance | 2,549 | 12,899 | 13,835 | |||||||||||||
Tax expense | $ | 290 | $ | 11,699 | $ | 11,124 | ||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | |||||||||||||||
Years ended March 31, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Expected federal income tax at statutory rate | 34 | % | 34 | % | 34 | % | ||||||||||
State income taxes, net of federal tax effect | 0.5 | 0.4 | 0.7 | |||||||||||||
Valuation allowance | (33.6 | ) | (207.1 | ) | (138.7 | ) | ||||||||||
Permanent differences | (0.4 | ) | (7.6 | ) | (0.3 | ) | ||||||||||
Return to provision | (1.5 | ) | (6.1 | ) | (8.2 | ) | ||||||||||
Rate change | 0.2 | (0.1 | ) | - | ||||||||||||
Other | (3.0 | ) | (1.4 | ) | 1 | |||||||||||
Effective tax rate (continuing operations) | (3.8 | )% | (187.9 | )% | (111.5 | )% | ||||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | |||||||||||||||
Years ended March 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Deferred tax assets | ||||||||||||||||
Collectability reserves | $ | 158 | $ | 1,389 | ||||||||||||
Reserve for inventory write-off | 606 | 474 | ||||||||||||||
Reserve for sales discounts | 179 | 116 | ||||||||||||||
Accrued vacations | 41 | 39 | ||||||||||||||
Inventory — uniform capitalization | 273 | 132 | ||||||||||||||
Net operating loss carryforward | 37,743 | 30,663 | ||||||||||||||
Stock based compensation | 895 | 626 | ||||||||||||||
Book/tax intangibles amortization | - | - | ||||||||||||||
Other | 3,252 | 3,624 | ||||||||||||||
Total deferred tax assets | 43,147 | 37,063 | ||||||||||||||
Deferred tax liabilities | ||||||||||||||||
Book/tax depreciation | (1,292 | ) | (2,899 | ) | ||||||||||||
Book/tax intangibles amortization | (3,672 | ) | (5,135 | ) | ||||||||||||
Net deferred tax assets (liabilities) | 38,183 | 29,029 | ||||||||||||||
Valuation allowance | (39,462 | ) | (30,308 | ) | ||||||||||||
Total deferred tax asset (liability), net | $ | (1,279 | ) | $ | (1,279 | ) | ||||||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | ' | |||||||||||||||
Years ended March 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Income taxes payable, beginning of period | $ | 1,085 | $ | 1,061 | ||||||||||||
Gross increases related to prior year tax positions | 139 | 123 | ||||||||||||||
Gross increases related to current year tax positions | 41 | 41 | ||||||||||||||
Decrease related to statute of limitations lapses | (140 | ) | (140 | ) | ||||||||||||
Income taxes payable, end of period | $ | 1,125 | $ | 1,085 |
Note_16_ShareBased_Compensatio1
Note 16 - Share-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||||
Year ended | |||||||||||||||||||
31-Mar-14 | |||||||||||||||||||
Number of options | Weighted average exercise price | ||||||||||||||||||
Options outstanding, beginning of period | 2,904,061 | $ | 1.93 | ||||||||||||||||
Granted | 841,511 | 3.25 | |||||||||||||||||
Exercised | (206,674 | ) | 1.7 | ||||||||||||||||
Forfeited or expired | (379,159 | ) | 2.11 | ||||||||||||||||
Options outstanding, end of period | 3,159,739 | $ | 2.28 | ||||||||||||||||
Options exercisable, end of period | 1,433,077 | $ | 2.04 | ||||||||||||||||
Shares available for future grant, end of period | 1,697,000 | ||||||||||||||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | ||||||||||||||||||
Year ended | |||||||||||||||||||
31-Mar-14 | |||||||||||||||||||
Shares | Weighted average grant date fair value | ||||||||||||||||||
Unvested, beginning of period | 574,865 | $ | 1.73 | ||||||||||||||||
Granted | 434,640 | 3.35 | |||||||||||||||||
Vested | (194,338 | ) | 1.75 | ||||||||||||||||
Forfeited | (113,198 | ) | 1.76 | ||||||||||||||||
Unvested, end of period | 701,969 | $ | 2.72 | ||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||||||||||||
Year | Year | Year | |||||||||||||||||
Ended | Ended | Ended | |||||||||||||||||
March 31, | March 31, | March 31, | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Expected life (in years) | 5 | 5 | - | 6.5 | 5 | - | 6.5 | ||||||||||||
Expected volatility | 60.8 | - | 65.40% | 64.3 | - | 70.10% | 68% | ||||||||||||
Risk-free interest rate | 0.76 | - | 1.55% | 0.62 | - | 1.25% | 0.8 | - | 2.24% | ||||||||||
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Note_19_Quarterly_Data_Seasona1
Note 19 - Quarterly Data - Seasonality (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||
Quarter Ended | |||||||||||||||||
Fiscal Year 2014 | 30-Jun | 30-Sep | 31-Dec | 31-Mar | |||||||||||||
Net revenue | $ | 22,016 | $ | 28,562 | $ | 32,576 | $ | 23,925 | |||||||||
Operating loss | (706 | ) | (967 | ) | (2,503 | ) | (1,549 | ) | |||||||||
Net loss | (3,836 | ) | (2,700 | ) | (1,048 | ) | (18,982 | ) | |||||||||
Basic loss per common share | $ | (0.07 | ) | $ | (0.05 | ) | $ | (0.02 | ) | $ | (0.30 | ) | |||||
Diluted loss per common share | $ | (0.07 | ) | $ | (0.05 | ) | $ | (0.02 | ) | $ | (0.30 | ) | |||||
Quarter Ended | |||||||||||||||||
Fiscal Year 2013 | 30-Jun | 30-Sep | 31-Dec | 31-Mar | |||||||||||||
Net revenue | $ | 4,448 | $ | 7,251 | $ | 21,366 | $ | 21,435 | |||||||||
Operating income (loss) | (1,670 | ) | (1,251 | ) | (1,123 | ) | (1,064 | ) | |||||||||
Net income (loss) | (382 | ) | 1,125 | 2,007 | (14,513 | ) | |||||||||||
Basic loss per common share | $ | (0.01 | ) | $ | 0.03 | $ | 0.04 | $ | (0.26 | ) | |||||||
Diluted loss per common share | $ | (0.01 | ) | $ | 0.03 | $ | 0.04 | $ | (0.26 | ) |
Note_2_Summary_of_Significant_2
Note 2 - Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Number of Reportable Segments | 1 | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) | 1.8 | 2.6 | 2.8 |
Restructuring Costs (in Dollars) | $20.20 | ' | ' |
Discontinued Operations [Member] | ' | ' | ' |
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Restructuring Costs (in Dollars) | 9 | ' | ' |
Minneapolis Distribution [Member] | ' | ' | ' |
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Asset Impairment Charges (in Dollars) | $4.50 | ' | ' |
Developed Technology Rights [Member] | ' | ' | ' |
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '5 years | ' | ' |
Minimum [Member] | Developed Technology Rights [Member] | ' | ' | ' |
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '3 years | ' | ' |
Minimum [Member] | ' | ' | ' |
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '1 year | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '3 years | ' | ' |
Maximum [Member] | Developed Technology Rights [Member] | ' | ' | ' |
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '5 years | ' | ' |
Maximum [Member] | ' | ' | ' |
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '10 years | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '8 years | ' | ' |
Note_2_Summary_of_Significant_3
Note 2 - Summary of Significant Accounting Policies (Details) - Obligation Liabilities Measured at Fair Value (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 |
Obligation Liabilities Measured at Fair Value [Abstract] | ' |
Balance at March 31, 2013 | $3,371 |
Increase related to acquisition (Note 3) | 0 |
Payment of contingent obligation | -887 |
Change in fair value | 0 |
Balance at March 31, 2014 | $2,484 |
Note_2_Summary_of_Significant_4
Note 2 - Summary of Significant Accounting Policies (Details) - Property and Equipment, Estimated Useful Lives | 12 Months Ended |
Mar. 31, 2014 | |
Furniture and Fixtures [Member] | ' |
Note 2 - Summary of Significant Accounting Policies (Details) - Property and Equipment, Estimated Useful Lives [Line Items] | ' |
Estimated useful life | '7 years |
Office Equipment [Member] | ' |
Note 2 - Summary of Significant Accounting Policies (Details) - Property and Equipment, Estimated Useful Lives [Line Items] | ' |
Estimated useful life | '10 years |
Computer Equipment [Member] | Minimum [Member] | ' |
Note 2 - Summary of Significant Accounting Policies (Details) - Property and Equipment, Estimated Useful Lives [Line Items] | ' |
Estimated useful life | '3 years |
Computer Equipment [Member] | Maximum [Member] | ' |
Note 2 - Summary of Significant Accounting Policies (Details) - Property and Equipment, Estimated Useful Lives [Line Items] | ' |
Estimated useful life | '6 years |
Other Machinery and Equipment [Member] | Minimum [Member] | ' |
Note 2 - Summary of Significant Accounting Policies (Details) - Property and Equipment, Estimated Useful Lives [Line Items] | ' |
Estimated useful life | '5 years |
Other Machinery and Equipment [Member] | Maximum [Member] | ' |
Note 2 - Summary of Significant Accounting Policies (Details) - Property and Equipment, Estimated Useful Lives [Line Items] | ' |
Estimated useful life | '10 years |
Leasehold Improvements [Member] | Minimum [Member] | ' |
Note 2 - Summary of Significant Accounting Policies (Details) - Property and Equipment, Estimated Useful Lives [Line Items] | ' |
Estimated useful life | '1 year |
Leasehold Improvements [Member] | Maximum [Member] | ' |
Note 2 - Summary of Significant Accounting Policies (Details) - Property and Equipment, Estimated Useful Lives [Line Items] | ' |
Estimated useful life | '10 years |
Minimum [Member] | ' |
Note 2 - Summary of Significant Accounting Policies (Details) - Property and Equipment, Estimated Useful Lives [Line Items] | ' |
Estimated useful life | '1 year |
Maximum [Member] | ' |
Note 2 - Summary of Significant Accounting Policies (Details) - Property and Equipment, Estimated Useful Lives [Line Items] | ' |
Estimated useful life | '10 years |
Note_2_Summary_of_Significant_5
Note 2 - Summary of Significant Accounting Policies (Details) - Basic and Diluted Earnings (Loss) per Share (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Numerator: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss from continuing operations (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ($7,869) | ($17,922) | ($21,102) |
Income (loss) from discontinued operations, net of tax (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | -18,697 | 6,125 | -13,198 |
Net loss (in Dollars) | ($18,982) | ($1,048) | ($2,700) | ($3,836) | ($14,513) | $2,007 | $1,125 | ($382) | ($26,566) | ($11,797) | ($34,300) |
Denominator: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Denominator for basic loss per share — weighted average shares (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | 60,775 | 43,529 | 36,877 |
Denominator for diluted loss per share — weighted-average shares (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | 60,775 | 43,529 | 36,877 |
Basic earnings (loss) per common share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | ($0.13) | ($0.41) | ($0.57) |
Discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | ($0.31) | $0.14 | ($0.36) |
Net income (loss) | ($0.30) | ($0.02) | ($0.05) | ($0.07) | ($0.26) | $0.04 | $0.03 | ($0.01) | ($0.44) | ($0.27) | ($0.93) |
Diluted earnings (loss) per common share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | ($0.13) | ($0.41) | ($0.57) |
Discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | ($0.31) | $0.14 | ($0.36) |
Net income (loss) | ($0.30) | ($0.02) | ($0.05) | ($0.07) | ($0.26) | $0.04 | $0.03 | ($0.01) | ($0.44) | ($0.27) | ($0.93) |
Note_3_Acquisition_Details
Note 3 - Acquisition (Details) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
Jul. 31, 2013 | Nov. 20, 2012 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Note 3 - Acquisition (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Businesses, Net of Cash Acquired | ' | $24,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | 590,036 | 17,100,000 | ' | ' | ' | ' | 1,770,097 | ' | ' | ' | ' | ' | ' |
Payments to Acquire Businesses, Gross | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | -319,000 | 22,120,000 | ' |
Business Combination, Contingent Consideration, Interest Rate | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Proceeds from Working Capital Adjustment | ' | ' | ' | ' | ' | 836,000 | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Contingent Consideration, Liability | ' | 7,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Inputs, Discount Rate | ' | 14.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Assumptions, Risk Free Interest Rate | ' | 0.15% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Assumptions, Expected Term | ' | '40 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Assumptions, Expected Dividend Rate | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Assumptions, Expected Volatility Rate | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | ' | 30,600,000 | 30,665,000 | ' | ' | ' | 31,484,000 | ' | ' | ' | 30,665,000 | 31,484,000 | ' |
Revenue, Net | ' | ' | 23,925,000 | 32,576,000 | 28,562,000 | 22,016,000 | 21,435,000 | 21,366,000 | 7,251,000 | 4,448,000 | 107,079,000 | 54,500,000 | 7,778,000 |
Operating Income (Loss) | ' | ' | -1,549,000 | -2,503,000 | -967,000 | -706,000 | -1,064,000 | -1,123,000 | -1,251,000 | -1,670,000 | -5,725,000 | -5,108,000 | -8,882,000 |
Common Stock Issuable [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 3 - Acquisition (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | ' | 6,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Paid in Early Calendar 2013 [Member] | Cash [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 3 - Acquisition (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | ' | 1,250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Paid in Equal Quarterly Installments Beginning Late Calendar 2013 [Member] | Cash [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 3 - Acquisition (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | ' | 3,750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Paid in Equal Quarterly Installments Beginning Late Calendar 2013 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 3 - Acquisition (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effect on Future Cash Flows, Amount | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
To Be Issued in Early Calendar 2013 [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 3 - Acquisition (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | ' | 2,215,526 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Will Be Issued Late Calendar 2013 [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 3 - Acquisition (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | ' | 4,071,842 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
General and Administrative Expense [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 3 - Acquisition (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Acquisition Related Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,500,000 | ' |
SpeedFC [Member] | Cash [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 3 - Acquisition (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Contingent Consideration, Liability | ' | 3,981,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
SpeedFC [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 3 - Acquisition (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Businesses, Gross | ' | 23,657,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | ' | 30,647,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, Net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 87,000,000 | ' | ' |
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,900,000 | ' |
Cash [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 3 - Acquisition (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 3 - Acquisition (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Before Interest, Taxes, Depreciation, and Amortization | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 3 - Acquisition (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Before Interest, Taxes, Depreciation, and Amortization | ' | $6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_3_Acquisition_Details_Pur
Note 3 - Acquisition (Details) - Purchase Price Allocation (USD $) | 3 Months Ended | 12 Months Ended | 1 Months Ended | ||||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Nov. 20, 2012 | Nov. 20, 2012 | Nov. 20, 2012 | Nov. 20, 2012 |
Common Stock [Member] | SpeedFC [Member] | SpeedFC [Member] | |||||
SpeedFC [Member] | Cash [Member] | ||||||
Consideration: | ' | ' | ' | ' | ' | ' | ' |
Cash | $1,000 | ($319) | $22,120 | ' | ' | ' | $23,657 |
Common stock | ' | ' | ' | ' | ' | ' | 21,250 |
Contingent obligation | ' | ' | ' | 7,400 | 3,383 | 3,981 | ' |
Fair value of total consideration transferred | ' | ' | ' | ' | ' | ' | 52,271 |
The SCC purchase price was allocated as follows: | ' | ' | ' | ' | ' | ' | ' |
Accounts receivable | ' | ' | ' | ' | ' | ' | 11,732 |
Prepaid expenses and other assets | ' | ' | ' | ' | ' | ' | 624 |
Property and equipment | ' | ' | ' | ' | ' | ' | 7,075 |
Purchased intangibles | ' | ' | ' | ' | ' | ' | 22,250 |
Goodwill | 31,484 | 30,665 | 31,484 | 30,600 | ' | ' | 30,647 |
Accounts payable | ' | ' | ' | ' | ' | ' | -6,106 |
Accrued expenses and other liabilities | ' | ' | ' | ' | ' | ' | -4,056 |
Deferred tax liability | ' | ' | ' | ' | ' | ' | -9,895 |
' | ' | ' | ' | ' | ' | $52,271 |
Note_3_Acquisition_Details_Pro
Note 3 - Acquisition (Details) - Pro Forma Information (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Note 3 - Acquisition (Details) - Pro Forma Information [Line Items] | ' | ' | ' |
Net sales | $391,237 | $430,795 | $473,047 |
SpeedFC [Member] | ' | ' | ' |
Note 3 - Acquisition (Details) - Pro Forma Information [Line Items] | ' | ' | ' |
Net sales | 97,608 | 60,794 | ' |
Cost of sales | 80,364 | 50,899 | ' |
Gross profit | 17,244 | 9,895 | ' |
Operating expenses | 15,540 | 16,767 | ' |
Income from operations | $1,704 | ($6,872) | ' |
Note_4_Discontinued_Operations2
Note 4 - Discontinued Operations (Details) (USD $) | Mar. 31, 2014 |
In Millions, unless otherwise specified | |
Discontinued Operations and Disposal Groups [Abstract] | ' |
Disposal Group Including Discontinued Operation of Disposal Group | $2.20 |
Note_4_Discontinued_Operations3
Note 4 - Discontinued Operations (Details) - Components of Discontinued Operations (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Components of Discontinued Operations [Abstract] | ' | ' | ' |
Net revenue | $391,237,000 | $430,795,000 | $473,047,000 |
Cost of revenue | 359,554,000 | 388,501,000 | 429,678,000 |
Total operating expenses | 50,353,000 | 36,032,000 | 57,119,000 |
Pre-tax income (loss) from discontinued operations | -18,670,000 | 6,262,000 | -13,750,000 |
Income tax benefit (expense) | -27,000 | -137,000 | 552,000 |
Income (loss) from discontinued operations, net of tax | ($18,697,000) | $6,125,000 | ($13,198,000) |
Note_4_Discontinued_Operations4
Note 4 - Discontinued Operations (Details) - Assets of Discontinued Operations and Liabilities Related to Assets of Discontinued Operations (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets of Discontinued Operations and Liabilities Related to Assets of Discontinued Operations [Abstract] | ' | ' |
Accounts receivable, net | $67,494 | $68,597 |
Inventories | 33,386 | 34,197 |
Prepaid expenses | 1,398 | 2,170 |
Property and equipment, net | 3,181 | 5,460 |
Software development costs, net | 574 | 0 |
Goodwill and Intangible assets | ' | 1,009 |
Non-current prepaid royalties | 3,261 | 3,966 |
Other non-current assets | 562 | 1,013 |
Assets of discontinued operations | 109,856 | 116,412 |
Current liabilities | 88,388 | 98,743 |
Other long-term liabilities | 7 | 699 |
Liabilities related to assets of discontinued operations | $88,395 | $99,442 |
Note_5_Supplemental_Cash_Flow_2
Note 5 - Supplemental Cash Flow Information (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Supplemental Cash Flow Elements [Abstract] | ' | ' | ' |
Income Taxes Paid, Net | $448,000 | $202,000 | $2,000 |
Interest Paid, Net | $1,700,000 | $710,000 | $566,000 |
Note_5_Supplemental_Cash_Flow_3
Note 5 - Supplemental Cash Flow Information (Details) - Changes in Operating Assets and Liabilities (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Changes in Operating Assets and Liabilities [Abstract] | ' | ' | ' |
Accounts receivable | ($3,628) | ($297) | ($2,488) |
Prepaid expenses | -391 | 643 | 114 |
Income taxes receivable | ' | 13 | -13 |
Other assets | -5,459 | -1,298 | -88 |
Accounts payable | 1,549 | 2,641 | -68 |
Income taxes payable | ' | ' | -37 |
Accrued expenses and other liabilities | 4,583 | -7,126 | 696 |
Changes in operating assets and liabilities, net of acquisition | ($3,346) | ($5,424) | ($1,884) |
Note_6_Goodwill_and_Intangible2
Note 6 - Goodwill and Intangible Assets (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Note 6 - Goodwill and Intangible Assets (Details) [Line Items] | ' | ' | ' |
Amortization of Intangible Assets | $2,400,000 | $700,000 | $0 |
Amortization of Financing Costs | 323,000 | 196,000 | 482,000 |
Debt Issuance Cost | 35,000 | 762,000 | ' |
Interest Expense [Member] | ' | ' | ' |
Note 6 - Goodwill and Intangible Assets (Details) [Line Items] | ' | ' | ' |
Amortization of Financing Costs | $323,000 | $199,000 | $482,000 |
Developed Technology Rights [Member] | ' | ' | ' |
Note 6 - Goodwill and Intangible Assets (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '5 years | ' | ' |
Internet Domain Names [Member] | ' | ' | ' |
Note 6 - Goodwill and Intangible Assets (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '7 years | ' | ' |
Minimum [Member] | Developed Technology Rights [Member] | ' | ' | ' |
Note 6 - Goodwill and Intangible Assets (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '3 years | ' | ' |
Minimum [Member] | Customer Relationships [Member] | ' | ' | ' |
Note 6 - Goodwill and Intangible Assets (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '8 years | ' | ' |
Minimum [Member] | Customer Lists [Member] | ' | ' | ' |
Note 6 - Goodwill and Intangible Assets (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '3 years | ' | ' |
Minimum [Member] | ' | ' | ' |
Note 6 - Goodwill and Intangible Assets (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '3 years | ' | ' |
Maximum [Member] | Developed Technology Rights [Member] | ' | ' | ' |
Note 6 - Goodwill and Intangible Assets (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '5 years | ' | ' |
Maximum [Member] | Customer Relationships [Member] | ' | ' | ' |
Note 6 - Goodwill and Intangible Assets (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '14 years | ' | ' |
Maximum [Member] | ' | ' | ' |
Note 6 - Goodwill and Intangible Assets (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '8 years | ' | ' |
Note_6_Goodwill_and_Intangible3
Note 6 - Goodwill and Intangible Assets (Details) - Intangible Asset Summary (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | $22,629 | $22,398 |
Finite-Lived Intangible Assets, Accumulated Amortization | -3,033 | -678 |
Intangible Assets, Net (Excluding Goodwill) | 19,596 | 21,720 |
Developed Technology Rights [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 4,170 | 4,170 |
Finite-Lived Intangible Assets, Accumulated Amortization | -1,483 | -370 |
Intangible Assets, Net (Excluding Goodwill) | 2,687 | 3,800 |
Customer Relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 14,490 | 14,490 |
Finite-Lived Intangible Assets, Accumulated Amortization | -1,485 | -307 |
Intangible Assets, Net (Excluding Goodwill) | 13,005 | 14,183 |
Internet Domain Names [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 135 | 135 |
Finite-Lived Intangible Assets, Accumulated Amortization | -19 | ' |
Intangible Assets, Net (Excluding Goodwill) | 116 | 135 |
Computer Software, Intangible Asset [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 244 | 13 |
Finite-Lived Intangible Assets, Accumulated Amortization | -46 | -1 |
Intangible Assets, Net (Excluding Goodwill) | 198 | 12 |
Trademarks [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 3,590 | 3,590 |
Intangible Assets, Net (Excluding Goodwill) | $3,590 | $3,590 |
Note_6_Goodwill_and_Intangible4
Note 6 - Goodwill and Intangible Assets (Details) - Future Amortization Expense (USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Future Amortization Expense [Abstract] | ' |
2015 | $3,459 |
2016 | 3,948 |
2017 | 3,149 |
2018 | 2,146 |
2019 | 1,501 |
Thereafter | 1,803 |
Total | $16,006 |
Note_6_Goodwill_and_Intangible5
Note 6 - Goodwill and Intangible Assets (Details) - Debt Issuance Costs (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Debt Issuance Costs [Abstract] | ' | ' |
Debt issuance costs | $2,771 | $2,736 |
Less: accumulated amortization | -1,848 | -1,525 |
Debt issuance costs, net | $923 | $1,211 |
Note_7_Prepaid_Expenses_Detail
Note 7 - Prepaid Expenses (Details) - Prepaid Expenses (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Prepaid Expenses [Abstract] | ' | ' |
Prepaid maintenance and licenses | $450 | $210 |
Other prepaid expenses | 550 | 399 |
Total prepaid expenses | $1,000 | $609 |
Note_8_Property_and_Equipment_1
Note 8 - Property and Equipment (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Note 8 - Property and Equipment (Details) [Line Items] | ' | ' | ' |
Depreciation | $3,300,000 | $1,000,000 | $1,000,000 |
UNITED STATES | ' | ' | ' |
Note 8 - Property and Equipment (Details) [Line Items] | ' | ' | ' |
Long-Lived Assets | 14,600,000 | 7,400,000 | ' |
MEXICO | ' | ' | ' |
Note 8 - Property and Equipment (Details) [Line Items] | ' | ' | ' |
Long-Lived Assets | $391,000 | $104,000 | ' |
Note_8_Property_and_Equipment_2
Note 8 - Property and Equipment (Details) - Property and Equipment (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | $19,729 | $9,606 |
Less: accumulated depreciation and amortization | 4,320 | 981 |
Net property and equipment | 15,409 | 8,625 |
Furniture and Fixtures [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 27 | ' |
Computer Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 5,561 | 3,155 |
Other Machinery and Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 10,464 | 4,303 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 826 | 173 |
Construction in Progress [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | $2,851 | $1,975 |
Note_9_Accrued_Expenses_Detail
Note 9 - Accrued Expenses (Details) - Accrued Expenses (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accrued Expenses [Abstract] | ' | ' |
Compensation and benefits | $1,135 | $1,433 |
Accrued interest | 158 | 99 |
Other | 437 | 392 |
Total | $1,730 | $1,924 |
Note_10_401k_Plan_Details
Note 10 - 401(k) Plan (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Note 10 - 401(k) Plan (Details) [Line Items] | ' | ' | ' |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 100.00% | ' | ' |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $0 | $0 | $80,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '3 years | ' | ' |
Discontinued Operations [Member] | ' | ' | ' |
Note 10 - 401(k) Plan (Details) [Line Items] | ' | ' | ' |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $0 | $43,000 | $0 |
Note_11_Commitments_and_Contin2
Note 11 - Commitments and Contingencies (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Apr. 14, 2011 | Apr. 14, 2011 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | |
Release from FUNimation Office Lease Guarantee [Member] | Release from FUNimation Office Lease Guarantee [Member] | Release from FUNimation Office Lease Guarantee [Member] | Release from FUNimation Office Lease Guarantee [Member] | Minimum [Member] | Maximum [Member] | Optional Additional Terms [Member] | ||||
Letter of Credit [Member] | ||||||||||
Note 11 - Commitments and Contingencies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lessee Leasing Arrangements, Operating Leases, Term of Contract | ' | ' | ' | ' | ' | ' | ' | '3 years | '15 years | '10 years |
Operating Leases, Rent Expense | $5,400,000 | $2,800,000 | $2,500,000 | ' | ' | ' | ' | ' | ' | ' |
Lease Terms, Additional Rent Per Square Foot (in Dollars per Square Foot) | 0.06 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual Increase in Base Rent | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Term | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' |
Letters of Credit Outstanding, Amount | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' |
Annual Decrease in Letter of Credit | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' |
Guarantor Obligations, Maximum Exposure, Undiscounted | ' | ' | ' | ' | ' | $2,300,000 | $2,900,000 | ' | ' | ' |
Note_11_Commitments_and_Contin3
Note 11 - Commitments and Contingencies (Details) - Future Minimum Rental Payments under Non-cancelable Operating Leases (USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Future Minimum Rental Payments under Non-cancelable Operating Leases [Abstract] | ' |
2015 | $5,145 |
2016 | 6,216 |
2017 | 6,351 |
2018 | 5,423 |
2019 | 4,573 |
Thereafter | 15,688 |
Total | $43,396 |
Note_12_Capital_Leases_Details
Note 12 - Capital Leases (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Leases, Capital [Abstract] | ' | ' | ' |
Capital Leases, Income Statement, Amortization Expense | $69,000 | $82,000 | $87,000 |
Note_12_Capital_Leases_Details1
Note 12 - Capital Leases (Details) - Leased Capital Assets Included in Property and Equipment (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Leased Capital Assets Included in Property and Equipment [Abstract] | ' | ' |
Computer and office equipment | $234 | $193 |
Less: accumulated amortization | 85 | 101 |
Net property and equipment | $149 | $92 |
Note_12_Capital_Leases_Details2
Note 12 - Capital Leases (Details) - Future Minimum Capital Lease Commitments (USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Note 12 - Capital Leases (Details) - Future Minimum Capital Lease Commitments [Line Items] | ' |
2015 | $80 |
2016 | 78 |
2017 | 12 |
2018 | 0 |
Total minimum lease payments | 170 |
Less: amounts representing interest at rates ranging from 5.0% to 9.563% | 12 |
Present value of minimum capital lease payments, reflected in the balance sheet as current and noncurrent capital lease obligations of $58 and $99, respectively. | $158 |
Note_12_Capital_Leases_Details3
Note 12 - Capital Leases (Details) - Future Minimum Capital Lease Commitments (Parentheticals) (USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Note 12 - Capital Leases (Details) - Future Minimum Capital Lease Commitments (Parentheticals) [Line Items] | ' |
Current capital lease obligations | $58 |
Non-current capital lease obligations | $99 |
Minimum [Member] | ' |
Note 12 - Capital Leases (Details) - Future Minimum Capital Lease Commitments (Parentheticals) [Line Items] | ' |
Interest Rate | 5.00% |
Maximum [Member] | ' |
Note 12 - Capital Leases (Details) - Future Minimum Capital Lease Commitments (Parentheticals) [Line Items] | ' |
Interest Rate | 9.56% |
Note_13_Bank_Financing_and_Deb1
Note 13 - Bank Financing and Debt (Details) (USD $) | 0 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||
Apr. 14, 2011 | Apr. 14, 2011 | Mar. 31, 2014 | Mar. 31, 2013 | Jun. 02, 2014 | Nov. 20, 2012 | Nov. 12, 2009 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 29, 2011 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | |
Release from FUNimation Office Lease Guarantee [Member] | Release from FUNimation Office Lease Guarantee [Member] | Release from FUNimation Office Lease Guarantee [Member] | Release from FUNimation Office Lease Guarantee [Member] | Subsequent Event [Member] | Wells Fargo Foothill, LLC [Member] | Wells Fargo Foothill, LLC [Member] | Wells Fargo Foothill, LLC [Member] | Wells Fargo Foothill, LLC [Member] | Wells Fargo Foothill, LLC [Member] | Wells Fargo Foothill, LLC [Member] | Wells Fargo Capital Finance, LLC [Member] | Wells Fargo Capital Finance, LLC [Member] | |
Letter of Credit [Member] | Wells Fargo Capital Finance, LLC [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Minimum [Member] | Base Rate [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | ||||||||||
Note 13 - Bank Financing and Debt (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Term | '5 years | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | $30,000,000 | ' | $65,000,000 | ' | ' | $50,000,000 | ' | ' | ' |
Line of Credit Facilty, Additional Borrowing Capacity Under Certain Circumstances | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' |
Line Of Credit Facility Increase (Decrease) In Additional Borrowing Capacity Under Certain Circumstances | ' | ' | ' | ' | ' | -20,000,000 | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.75% | 2.75% |
Line of Credit Facility, Amount Outstanding | ' | ' | ' | ' | ' | ' | ' | 38,400,000 | 23,900,000 | ' | ' | ' | ' |
Line of Credit Facility, Remaining Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | 76,000 | 19,900,000 | ' | 5,000,000 | ' | ' |
Debt, Weighted Average Interest Rate | ' | ' | ' | ' | ' | ' | ' | 5.17% | 4.38% | ' | ' | ' | ' |
Letters of Credit Outstanding, Amount | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual Decrease in Letter of Credit | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Guarantor Obligations, Maximum Exposure, Undiscounted | ' | ' | $2,300,000 | $2,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_14_Income_Taxes_Details
Note 14 - Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Note 14 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | ' | ($7,579,000) | ($6,223,000) | ($9,978,000) |
Discontinued Operation, Tax Effect of Income (Loss) from Discontinued Operation During Phase-out Period | ' | 27,000 | 137,000 | -552,000 |
Effective Income Tax Rate Reconciliation, Discontinued Operations, Percent | ' | 0.10% | ' | ' |
Operating Loss Carryforwards | ' | 100,800,000 | 82,800,000 | ' |
Deferred Tax Assets, Net, Before Valuation Allowance | ' | 38,183,000 | 29,029,000 | ' |
Deferred Tax Assets, Valuation Allowance | ' | 39,462,000 | 30,308,000 | ' |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | ' | 182,000 | 152,000 | ' |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | ' | 555,000 | 499,000 | ' |
Unrecognized Tax Benefits, Period Increase (Decrease) | ' | -140,000 | ' | ' |
Change in Net Operating Loss Carryforward, Tax Examination | -2,200,000 | ' | ' | ' |
Foreign Tax Credit [Member] | ' | ' | ' | ' |
Note 14 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Tax Credit Carryforward, Amount | ' | $413,000 | $413,000 | ' |
Note_14_Income_Taxes_Details_I
Note 14 - Income Taxes (Details) - Income Tax Provision (Benefit) from Continuing Operations (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Income (loss) before income taxes | ' | ' | ' |
United States | ($7,759) | ($6,340) | ($9,978) |
International | 180 | 117 | 0 |
-7,579 | -6,223 | -9,978 | |
Current | ' | ' | ' |
Federal | 28 | -112 | -157 |
Foreign | 54 | 35 | ' |
State | 91 | 110 | 66 |
Deferred | -2,432 | -1,233 | -2,620 |
Valuation allowance | 2,549 | 12,899 | 13,835 |
Tax expense | $290 | $11,699 | $11,124 |
Note_14_Income_Taxes_Details_R
Note 14 - Income Taxes (Details) - Reconciliation of Income Tax Expense (Benefit) to Statutory Federal Rate | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Reconciliation of Income Tax Expense (Benefit) to Statutory Federal Rate [Abstract] | ' | ' | ' |
Expected federal income tax at statutory rate | 34.00% | 34.00% | 34.00% |
State income taxes, net of federal tax effect | 0.50% | 0.40% | 0.70% |
Valuation allowance | -33.60% | -207.10% | -138.70% |
Permanent differences | -0.40% | -7.60% | -0.30% |
Return to provision | -1.50% | -6.10% | -8.20% |
Rate change | 0.20% | -0.10% | ' |
Other | -3.00% | -1.40% | 1.00% |
Effective tax rate (continuing operations) | -3.80% | -187.90% | -111.50% |
Note_14_Income_Taxes_Details_S
Note 14 - Income Taxes (Details) - Significant Components of Deferred Tax Assets (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred tax assets | ' | ' |
Collectability reserves | $158 | $1,389 |
Reserve for inventory write-off | 606 | 474 |
Reserve for sales discounts | 179 | 116 |
Accrued vacations | 41 | 39 |
Inventory — uniform capitalization | 273 | 132 |
Net operating loss carryforward | 37,743 | 30,663 |
Stock based compensation | 895 | 626 |
Other | 3,252 | 3,624 |
Total deferred tax assets | 43,147 | 37,063 |
Deferred tax liabilities | ' | ' |
Book/tax depreciation | -1,292 | -2,899 |
Book/tax intangibles amortization | -3,672 | -5,135 |
Net deferred tax assets (liabilities) | 38,183 | 29,029 |
Valuation allowance | -39,462 | -30,308 |
Total deferred tax asset (liability), net | ($1,279) | ($1,279) |
Note_14_Income_Taxes_Details_A
Note 14 - Income Taxes (Details) - Activity Related to Unrecognized Tax Benefit (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Activity Related to Unrecognized Tax Benefit [Abstract] | ' | ' |
Income taxes payable, beginning of period | $1,085 | $1,061 |
Gross increases related to prior year tax positions | 139 | 123 |
Gross increases related to current year tax positions | 41 | 41 |
Decrease related to statute of limitations lapses | -140 | -140 |
Income taxes payable, end of period | $1,125 | $1,085 |
Note_15_Shareholders_Equity_De
Note 15 - Shareholders' Equity (Details) (USD $) | 1 Months Ended | 12 Months Ended | 0 Months Ended | |||
Oct. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Jun. 03, 2014 | Jun. 03, 2014 | |
Subsequent Event [Member] | Subsequent Event [Member] | |||||
Series C Preferred Stock [Member] | ||||||
Note 15 - Shareholders' Equity (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Preferred Stock, Shares Authorized | ' | 10,000,000 | ' | ' | ' | ' |
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | ' | $0 | ' | ' | ' | ' |
Preferred Stock, Shares Issued | ' | 0 | ' | ' | ' | ' |
Preferred Stock, Shares Outstanding | ' | 0 | ' | ' | ' | ' |
Stock Issued During Period, Value, New Issues (in Dollars) | ' | $21,787,000 | ' | ' | $10,000,000 | ' |
Stock Issued During Period, Shares, New Issues | 8,000,000 | ' | ' | ' | 3,333,333 | ' |
Class of Warrant or Right, Term | ' | ' | ' | ' | ' | '5 years |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | ' | ' | ' | ' | ' | 833,333 |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Item) | ' | ' | ' | ' | ' | 3.5 |
Proceeds from Issuance of Preferred Stock, Preference Stock, and Warrants (in Dollars) | ' | ' | ' | ' | 10,000,000 | ' |
Sale of Stock, Price Per Share (in Dollars per share) | $3 | ' | ' | ' | ' | ' |
Proceeds from Issuance of Common Stock (in Dollars) | $21,800,000 | $21,787,000 | ' | ' | ' | ' |
Stock Repurchased During Period, Shares | ' | 0 | 0 | 0 | ' | ' |
Note_16_ShareBased_Compensatio2
Note 16 - Share-Based Compensation (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Cease of Services [Member] | Cease of Services [Member] | Non-employee Stock Options [Member] | Non-employee Stock Options [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | The 1992 Plan [Member] | The 1992 Plan [Member] | The 2004 Stock Plan [Member] | The 2004 Stock Plan [Member] | The 2004 Stock Plan [Member] | The 2004 Stock Plan [Member] | The 2004 Stock Plan [Member] | Newly Appointed Director [Member] | ||||
Non-employee Stock Options [Member] | Non-employee Stock Options [Member] | Director [Member] | Director [Member] | Director [Member] | Director [Member] | Director [Member] | |||||||||||||||
Director [Member] | Director [Member] | Prior to September 15, 2005 [Member] | After September 15, 2005 [Member] | ||||||||||||||||||
Prior to September 15, 2005 [Member] | After September 15, 2005 [Member] | ||||||||||||||||||||
Note 16 - Share-Based Compensation (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | 1,697,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 1,700,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares) | 3,159,739 | 2,904,061 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,500 | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,500,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | ' | ' | ' | '1 year | '1 year | '6 years | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 841,511 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000 | 12,000 | 12,000 | ' | ' | 50,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '3 years | ' | ' | ' | ' | '5 years | '3 years | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $1,600,000 | $1,300,000 | $1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Aggregate Fair Value | $1,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '7 years 292 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | '6 years 219 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Price (in Dollars per share) | $3.64 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 440,000 | 82,000 | 362,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 4,400,000 | 1,400,000 | 235,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 2,400,000 | 399,000 | 132,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,400,000 | 1,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | ' | ' | ' | ' | ' | '1 year 73 days | ' | ' | '1 year 109 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Stock Options Exercised | 338,000 | 90,000 | 27,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation, Restricted Stock, Grants In Period, Weighted Average Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 340,000 | 240,000 | 719,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% | ' | ' | ' | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsForfeitureRate | ' | ' | 4.63% | ' | ' | ' | ' | 4.63% | 4.63% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation | 1,043,000 | 793,000 | 803,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | $284,000 | $190,000 | $368,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_16_ShareBased_Compensatio3
Note 16 - Share-Based Compensation (Details) - Stock Option Activity (USD $) | 12 Months Ended |
Mar. 31, 2014 | |
Stock Option Activity [Abstract] | ' |
Options outstanding, beginning of period | 2,904,061 |
Options outstanding, beginning of period (in Dollars per share) | $1.93 |
Granted | 841,511 |
Granted (in Dollars per share) | $3.25 |
Exercised | -206,674 |
Exercised (in Dollars per share) | $1.70 |
Forfeited or expired | -379,159 |
Forfeited or expired (in Dollars per share) | $2.11 |
Options outstanding, end of period | 3,159,739 |
Options outstanding, end of period (in Dollars per share) | $2.28 |
Options exercisable, end of period | 1,433,077 |
Options exercisable, end of period (in Dollars per share) | $2.04 |
Shares available for future grant, end of period | 1,697,000 |
Note_16_ShareBased_Compensatio4
Note 16 - Share-Based Compensation (Details) - Restricted Stock Activity (USD $) | 12 Months Ended |
Mar. 31, 2014 | |
Restricted Stock Activity [Abstract] | ' |
Unvested, beginning of period | 574,865 |
Unvested, beginning of period | $1.73 |
Granted | 434,640 |
Granted | $3.35 |
Vested | -194,338 |
Vested | $1.75 |
Forfeited | -113,198 |
Forfeited | $1.76 |
Unvested, end of period | 701,969 |
Unvested, end of period | $2.72 |
Note_16_ShareBased_Compensatio5
Note 16 - Share-Based Compensation (Details) - Stock Option Valuation Assumptions | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Note 16 - Share-Based Compensation (Details) - Stock Option Valuation Assumptions [Line Items] | ' | ' | ' |
Expected life (in years) | '5 years | ' | ' |
Expected volatility | ' | ' | 68.00% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Minimum [Member] | ' | ' | ' |
Note 16 - Share-Based Compensation (Details) - Stock Option Valuation Assumptions [Line Items] | ' | ' | ' |
Expected life (in years) | ' | '5 years | '5 years |
Expected volatility | 60.80% | 64.30% | ' |
Risk-free interest rate | 0.76% | 0.62% | 0.80% |
Maximum [Member] | ' | ' | ' |
Note 16 - Share-Based Compensation (Details) - Stock Option Valuation Assumptions [Line Items] | ' | ' | ' |
Expected life (in years) | ' | '6 years 6 months | '6 years 6 months |
Expected volatility | 65.40% | 70.10% | ' |
Risk-free interest rate | 1.55% | 1.25% | 2.24% |
Note_17_Related_Party_Transact1
Note 17 - Related Party Transactions (Details) (Chief Executive Officer [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2012 |
Chief Executive Officer [Member] | ' |
Note 17 - Related Party Transactions (Details) [Line Items] | ' |
Severance Costs | $1.40 |
Note_18_Major_Customers_and_Ve1
Note 18 - Major Customers and Vendors (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Note 18 - Major Customers and Vendors (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts Receivable, Net, Current | $18,527 | ' | ' | ' | $14,899 | ' | ' | ' | $18,527 | $14,899 | ' |
Revenue, Net | 23,925 | 32,576 | 28,562 | 22,016 | 21,435 | 21,366 | 7,251 | 4,448 | 107,079 | 54,500 | 7,778 |
Two Major Customers [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 18 - Major Customers and Vendors (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 36.20% | 33.30% | ' |
Two Major Customers [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 18 - Major Customers and Vendors (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts Receivable, Net, Current | 3,600 | ' | ' | ' | 3,400 | ' | ' | ' | 3,600 | 3,400 | ' |
Customer Concentration Risk [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 18 - Major Customers and Vendors (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, Net | ' | ' | ' | ' | ' | ' | ' | ' | $34,800 | ' | ' |
Note_19_Quarterly_Data_Seasona2
Note 19 - Quarterly Data - Seasonality (Unaudited) (Details) | 3 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Quarterly Financial Information Disclosure [Abstract] | ' | ' |
Quarterly Sales Percentage | 30.40% | 39.20% |
Note_19_Quarterly_Data_Seasona3
Note 19 - Quarterly Data - Seasonality (Unaudited) (Details) - Quarterly Historical Financial Data (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Quarterly Historical Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenue | $23,925 | $32,576 | $28,562 | $22,016 | $21,435 | $21,366 | $7,251 | $4,448 | $107,079 | $54,500 | $7,778 |
Operating loss | -1,549 | -2,503 | -967 | -706 | -1,064 | -1,123 | -1,251 | -1,670 | -5,725 | -5,108 | -8,882 |
Net loss | ($18,982) | ($1,048) | ($2,700) | ($3,836) | ($14,513) | $2,007 | $1,125 | ($382) | ($26,566) | ($11,797) | ($34,300) |
Basic loss per common share (in Dollars per share) | ($0.30) | ($0.02) | ($0.05) | ($0.07) | ($0.26) | $0.04 | $0.03 | ($0.01) | ($0.44) | ($0.27) | ($0.93) |
Diluted loss per common share (in Dollars per share) | ($0.30) | ($0.02) | ($0.05) | ($0.07) | ($0.26) | $0.04 | $0.03 | ($0.01) | ($0.44) | ($0.27) | ($0.93) |