Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Operating activities:    
Net income $ 3,222 $ 5,611
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,571 1,675
Amortization 175 175
Amortization of unrecognized prior service cost and actuarial losses 1,043 911
Stock-based compensation expense 433 540
Loss (gain) on disposal or sale of property, plant and equipment 1 (1)
Deferred income taxes 10 596
(Increase) decrease in operating assets:    
Accounts receivable 1,126 6,329
Unbilled revenue (2,651) 10,152
Inventories 1,697 2,186
Prepaid expenses and other current and non-current assets (489) (420)
Income taxes payable/receivable 1,109 (2,531)
Prepaid pension asset   (917)
Increase (decrease) in operating liabilities:    
Accounts payable (2,173) (2,216)
Accrued compensation, accrued expenses and other current and non-current liabilities (558) (3,795)
Customer deposits 6,699 3,944
Long-term portion of accrued compensation, accrued pension liability and accrued postretirement benefits (508) (68)
Net cash provided by operating activities 10,707 22,171
Investing activities:    
Purchase of property, plant and equipment (241) (883)
Proceeds from disposal of property, plant and equipment   4
Purchase of investments (39,000) (36,000)
Redemption of investments at maturity 45,000 27,000
Net cash provided (used) by investing activities 5,759 (9,879)
Financing activities:    
Principal repayments on capital lease obligations (38) (42)
Issuance of common stock 79 97
Dividends paid (2,616) (2,415)
Purchase of treasury stock (29) (5,852)
Excess tax (deficiency) benefit on stock awards (26) 5
Net cash used by financing activities (2,630) (8,207)
Effect of exchange rate changes on cash (231) (141)
Net increase in cash and cash equivalents 13,605 3,944
Cash and cash equivalents at beginning of year 24,072 27,271
Cash and cash equivalents at end of period $ 37,677 $ 31,215