v3.24.1.1.u2
Earnings per Share and Stock Plans (Tables)
 12 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table sets forth the computation of basic and diluted earnings per share (share data presented in thousands):
 
 Year Ended March 31,
Numerator for basic and diluted earnings per share:202420232022
Net income$46,625 $48,429 $29,660 
Denominators:   
Weighted-average common stock outstanding— denominator for basic EPS28,728 28,600 28,040 
Effect of dilutive employee stock options, RSU's and performance shares298 218 361 
Adjusted weighted-average common stock outstanding and assumed conversions— denominator for diluted EPS29,026 28,818 28,401 
Schedule of Stock Options Roll Forward
A summary of option transactions during each of the three fiscal years in the period ended March 31, 2024 is as follows:

 SharesWeighted-
average
Exercise Price per share		Weighted-
average
Remaining
Contractual
Life (in years)		Aggregate
Intrinsic
Value
Outstanding at April 1, 2021
657,814 $27.45 7.29$16,652 
Granted159,643 54.06   
Exercised(105,132)25.24   
Cancelled(32,540)31.71   
Outstanding at March 31, 2022
679,785 $33.82 7.08$15,294 
Granted394,586 34.91   
Exercised(32,158)22.15   
Cancelled(67,042)35.32   
Outstanding at March 31, 2023
975,171 $34.54 7.13$5,497 
Granted298,674 36.19   
Exercised(62,060)25.73   
Cancelled(17,945)37.49   
Outstanding at March 31, 2024
1,193,840 35.37 6.93$12,392 
Exercisable at March 31, 2024
600,072 $33.47 5.43$6,888 
Schedule of Share-based Compensation, Stock Options, Activity The following table provides certain information with respect to stock options outstanding at March 31, 2024:
 Stock Options
Outstanding		Weighted-average
Exercise Price		Weighted-average
Remaining
Contractual Life
Range of Exercise Prices   
$10.01 to 20.0051,957 $15.16 2.15
$20.01 to 30.00219,998 $26.60 5.19
$30.01 to $40.00700,333 $35.05 7.75
$40.01 to $50.0082,181 $42.77 7.94
$50.01 to $60.00139,371$54.26 6.72
 1,193,840 $35.37 6.93
The following table provides certain information with respect to stock options exercisable at March 31, 2024:

Range of Exercise PricesStock Options
Exercisable
Weighted- average
Exercise Price per share
$10.01 to 20.0051,957 $15.16 
$20.01 to 30.00219,998 26.60 
$30.01 to $40.00227,117 35.16 
$40.01 to $50.004,244 49.36 
$50.01 to $60.0096,756 54.26 
 600,072 $33.47 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The following table provides the weighted-average assumptions used to value stock options granted during fiscal 2024, 2023, and 2022:
 
Year Ended
March 31,
2024
Year Ended
March 31,
2023
Year Ended
March 31,
2022
Assumptions:   
Risk-free interest rate4.28 %2.53 %0.35 %
Dividend yield0.77 %0.81 %0.44 %
Volatility factor0.3360.3300.372
Expected life5.5 years5.5 years5.5 years
Schedule of Unvested Restricted Stock Units Roll Forward
A summary of the restricted stock unit awards granted under the Company’s LTIP plan as of March 31, 2024 is as follows:

 SharesWeighted-average
Grant Date
Fair Value per share
Unvested at April 1, 2021
269,789 $32.41 
Granted133,082 49.98 
Vested(138,407)35.71 
Forfeited(19,728)35.41 
Unvested at March 31, 2022
244,736 $39.86 
Granted161,582 31.61 
Vested(132,953)35.44 
Forfeited(26,140)38.15 
Unvested at March 31, 2023
247,225 $37.02 
Granted159,816 37.57 
Vested(145,862)39.21 
Forfeited(10,267)41.61 
Unvested at March 31, 2024
250,912 $35.91 
Schedule of Nonvested Performance-based Units Activity
A summary of the performance shares transactions during each of the three fiscal years in the period ended March 31, 2024 is as follows:

SharesWeighted-average
Grant Date
Fair Value per share
Unvested at April 1, 2021
123,232 $29.58 
Granted41,322 52.01 
Vested(18,296)36.43 
Forfeited(8,226)30.25 
Unvested at March 31, 2022
138,032 $35.35 
Granted67,606 33.03 
Forfeited(26,633)35.26 
Unvested at March 31, 2023
179,005 $34.49 
Granted73,453 36.58 
Vested(39,720)35.95 
Forfeited(33,838)28.66 
Unvested at March 31, 2024
178,900 $36.13