Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.0.6
Income Taxes (Tables)
 12 Months Ended
Mar. 31, 2013
Schedule of Income Tax Rate Reconciliation [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
The income tax expenses (benefits) from continuing operations are summarized as follows:
 
Fiscal Year Ended March 31,
(in thousands)
2013
 
2012
 
2011
Federal:
 
Current
$
—

 
$
(775
)
 
$
685

Deferred
24,578

 
9,604

 
(53,606
)
 
24,578

 
8,829

 
(52,921
)
State:
 
 
 
 
 
Current
2

 
1,219

 
(130
)
Deferred
4,797

 
2,770

 
(288
)
 
4,799

 
3,989

 
(418
)
Foreign:
 
 
 
 
 
Current
(8
)
 
50

 
71

Deferred
23

 
7

 
(36
)
 
15

 
57

 
35

Total
$
29,392

 
$
12,875

 
$
(53,304
)
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,
 
2013
 
2012
 
2011
Statutory federal income tax rate
34.0
 %
 
35.0

 
35.0
 %
Meals and entertainment
(0.2
)
 
0.1

 
0.3

State income tax, net of federal tax effect
3.1

 
3.1

 
4.0

Valuation allowance
(241.3
)
 
5.3

 
(591.7
)
Goodwill impairment
(1.9
)
 
—

 
—

Deferred tax adjustments
0.5

 
2.6

 
14.7

Contingent tax reserves
—

 
(6.3
)
 
(4.0
)
Other
(2.6
)
 
0.1

 
(1.3
)
 
(208.4
)%
 
39.9
 %
 
(543.0
)%
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)
2013
 
2012
Deferred income tax assets:
 
Allowance for doubtful accounts
$
4

 
$
3

Alternative minimum tax credit carryforward
697

 
697

Foreign tax credit carryforward
674

 
718

Research and development credit carryforward
2,735

 
3,451

Depreciation
1,224

 
1,286

Compensation accruals
1,326

 
1,186

Inventory reserves
888

 
575

Warranty reserves
57

 
90

Net operating loss carryforward
29,315

 
25,874

Intangibles and goodwill
689

 
172

Other
1,105

 
518

 
38,714

 
34,570

Valuation allowance
(36,285
)
 
(2,253
)
Net deferred income tax assets
$
2,429

 
$
32,317

Classified in Consolidated Balance Sheets as follows:
 
March 31,
(in thousands)
2013
 
2012
Deferred income tax assets
$
2,735

 
$
32,599

Deferred income tax liability – included in other long-term liabilities
(306
)
 
(282
)
Net deferred income tax assets
$
2,429

 
$
32,317

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 2012 and 2013 is as follows: 
(in thousands)
 
Unrecognized tax benefits at March 31, 2011
$
6,259

Additions based on positions related to fiscal year 2012
—

Additions for tax positions of years prior to fiscal year 2012
32

Reductions for tax positions of years prior to fiscal year 2012
(8
)
Reductions as a result of expirations of applicable statutes of limitations
(699
)
Settlements
(2,101
)
Unrecognized tax benefits at March 31, 2012
$
3,483

Additions based on positions related to fiscal year 2013
—

Additions for tax positions of years prior to fiscal year 2013
1

Reductions for tax positions of years prior to fiscal year 2013
—

Reductions as a result of expirations of applicable statutes of limitations
(716
)
Settlements
—

Unrecognized tax benefits at March 31, 2013
$
2,768

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
2009
-
2013
U.S. State
2008
-
2013
Foreign
2008
-
2013