Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.4.0.3
Income Taxes (Tables)
 12 Months Ended
Mar. 31, 2016
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
The income tax expense (benefit) from continuing operations are summarized as follows:
 
Fiscal Year Ended March 31,
(in thousands)
2016
 
2015
 
2014
Federal:
 
Current
$
—

 
$
—

 
$
6

Deferred
(142
)
 
13

 
(6,683
)
 
(142
)
 
13

 
(6,677
)
State:
 
 
 
 
 
Current
135

 
(31
)
 
433

Deferred
(28
)
 
(87
)
 
(1,589
)
 
107

 
(118
)
 
(1,156
)
Foreign:
 
 
 
 
 
Current
(32
)
 
31

 
56

Deferred
(35
)
 
(127
)
 
(133
)
 
(67
)
 
(96
)
 
(77
)
Total
$
(102
)
 
$
(201
)
 
$
(7,910
)
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
The statutory federal income tax rate is reconciled to the Company's effective income tax rates below:
 
Fiscal Year Ended March 31,
 
2016
 
2015
 
2014
Statutory federal income tax rate
34.0
 %
 
34.0
 %
 
34.0
 %
Meals and entertainment
(0.4
)
 
(0.1
)
 
(1.5
)
State income tax, net of federal tax effect
2.3

 
3.8

 
2.4

Valuation allowance
(32.3
)
 
(17.4
)
 
192.5

Goodwill impairment
—

 
(19.0
)
 
—

Deferred tax adjustments
—

 
(0.1
)
 
8.3

Foreign tax credit
(0.1
)
 
—

 
3.3

Equity compensation
(2.9
)
 
(0.8
)
 
(6.4
)
Capitalized transaction costs
—

 
—

 
(2.7
)
Other
—

 
(0.1
)
 
(3.2
)
Effective income tax rate
0.6
 %
 
0.3
 %
 
226.7
 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
Components of the net deferred income tax assets are as follows:
 
March 31,
(in thousands)
2016
 
2015
Deferred income tax assets:
 
Allowance for doubtful accounts
$
19

 
$
17

Alternative minimum tax credit carryforward
697

 
697

Foreign tax credit carryforward
821

 
824

Depreciation
1,146

 
1,025

Deferred revenue
1,092

 
1,227

Accrued compensation
1,130

 
887

Inventory reserves
3,804

 
3,492

Accrued warranty
168

 
196

Net operating loss carryforward
41,103

 
35,380

Accrued restructuring
701

 
1,048

Other
1,075

 
1,679

Gross deferred tax assets
51,756

 
46,472

Valuation allowance
(46,683
)
 
(39,667
)
Net deferred income tax assets
5,073

 
6,805

Deferred income tax liabilities:
 
 
 
Intangibles and goodwill
(5,083
)
 
(6,851
)
Net deferred income tax liabilities
$
(10
)
 
$
(46
)
Net deferred income tax liabilities are classified in the Consolidated Balance Sheets as follows:
 
March 31,
(in thousands)
2016
 
2015
Deferred income tax assets
$
—

 
$
—

Deferred income tax liability
(10
)
 
(46
)
Net deferred income tax liabilities
$
(10
)
 
$
(46
)
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]
A reconciliation of the beginning and ending balances of the total amounts of unrecognized tax benefits for fiscal years 2015 and 2016 is as follows: 
(in thousands)
 
Unrecognized tax benefits at March 31, 2014
$
2,776

Additions from acquisitions
186

Unrecognized tax benefits at March 31, 2015
2,962

Additions based on positions related to fiscal year 2016
—

Unrecognized tax benefits at March 31, 2016
$
2,962

Summary of Income Tax Examinations [Table Text Block]
With few exceptions, the major jurisdictions subject to examination by the relevant taxable authorities, and open tax years, stated as the Company's fiscal years, are as follows:
Jurisdiction
Open Tax Years
U.S. Federal
2012
-
2015
U.S. State
2011
-
2015
Foreign
2011
-
2015