v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2024
Operating activities      
Net income $ 44,571 $ 53,515 $ 51,588
Adjustment to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 22,466 22,339 18,837
Amortization of debt costs 497 486 489
Stock compensation expense 8,244 5,244 5,754
Deferred income taxes 619 (1,081) (2,079)
Reserve release for uncertain tax positions 0 (1,046) 84
Remeasurement (gain)/loss on intercompany balances (75) 36 (784)
Changes in operating assets and liabilities:      
Accounts receivable (13,205) (4,220) (540)
Inventories (28,021) (698) 3,778
Contract assets and liabilities (7,736) (6,655) (101)
Other current and non-current assets (3,089) (9,402) (4,935)
Accounts payable 8,485 (1,156) 2,707
Accrued liabilities and non-current liabilities 14,083 3,410 (6,355)
Income taxes payable and receivable (44) 2,346 (2,488)
Net cash provided by operating activities 46,795 63,118 65,955
Investing activities      
Purchases of property, plant and equipment (13,931) (10,249) (11,016)
Sales of rental equipment 850 65 99
Proceeds from sale of property, plant and equipment 0 5,759 840
Proceeds from disposal of business 0 0 1,027
Cash paid for acquisitions, net of cash acquired 0 (10,545) (100,472)
Net cash used in investing activities (13,081) (14,970) (109,522)
Financing activities      
Proceeds from Term Loan A 125,000 0 100,000
Payments on Term Loan A (142,000) (28,625) (30,872)
Proceeds from revolving credit facility 36,711 12,000 18,000
Payments on revolving credit facility (17,011) (17,000) (27,500)
Issuance costs associated with debt financing (523) 0 (759)
Lease financing (59) (58) (28)
Issuance of common stock including exercise of stock options 72 632 0
Repurchase of employee stock units on vesting (3,732) (3,230) (2,058)
Repurchase of treasury shares under authorized program (15,774) (20,138) (250)
Net cash provided by/ (used in) financing activities (17,316) (56,419) 56,533
Effect of exchange rate changes on cash and cash equivalents 29 (738) (1,055)
Change in cash and cash equivalents 16,427 (9,009) 11,911
Cash, cash equivalents and restricted cash at beginning of period 41,422 50,431 38,520
Cash, cash equivalents and restricted cash at end of period 57,849 41,422 50,431
Interest paid 8,543 10,405 9,178
Income taxes paid 18,189 16,498 23,130
Income tax refunds received 189 1,497 2,829
Purchases of property, plant and equipment in accounts payable $ 1,269 $ 311 $ 654

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