Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v2.4.0.6
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Operating activities:    
Net income $ 4,005 $ 8,484
Adjustments to reconcile net income to net cash provided (used) by operating activities:    
Depreciation 927 719
Amortization 113 216
Amortization of unrecognized prior service cost and actuarial losses 444 195
Discount accretion on investments (6) (4)
Stock-based compensation expense 319 320
Loss on disposal of property, plant and equipment (1) 4
Deferred income taxes (58) 174
(Increase) decrease in operating assets:    
Accounts receivable 40 (9,384)
Unbilled revenue 2,909 149
Inventories (3,623) 1,629
Prepaid expenses and other current and non-current assets (145) (62)
Prepaid pension asset (384) (416)
Increase (decrease) in operating liabilities:    
Accounts payable 2,233 (3,727)
Accrued compensation, accrued expenses and other current and non-current liabilities 35 764
Customer deposits (1,765) (3,171)
Income taxes receivable 1,186 504
Long-term portion of accrued compensation, accrued pension liability and accrued postretirement benefits 15 27
Net cash provided (used) by operating activities 6,244 (3,579)
Investing activities:    
Purchase of property, plant and equipment (578) (1,494)
Proceeds from disposal of property, plant and equipment 4 4
Purchase of investments (33,494) (14,398)
Redemption of investments at maturity 27,500 33,220
Net cash (used) provided by investing activities (6,568) 17,332
Financing activities:    
Principal repayments on capital lease obligations (41) (38)
Issuance of common stock 14 66
Dividends paid (399) (396)
Purchase of treasury stock    (8)
Excess tax (deficiency) benefit on stock awards (5) 72
Net cash used by financing activities (431) (304)
Effect of exchange rate changes on cash (11) 29
Net (decrease) increase in cash and cash equivalents (766) 13,478
Cash and cash equivalents at beginning of period 25,189 19,565
Cash and cash equivalents at end of period $ 24,423 $ 33,043