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, unless otherwise specified
 3 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Operating activities:    
Net income $ 3,808 $ 1,390
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 493 464
Amortization 57 56
Amortization of unrecognized prior service cost and actuarial losses 221 222
Discount accretion on investments (3) (2)
Stock-based compensation expense 195 171
Loss on disposal or sale of property, plant and equipment   3
Deferred income taxes 183 (99)
(Increase) decrease in operating assets:    
Accounts receivable (7,900) 2,039
Unbilled revenue 2,992 5,012
Inventories 1,843 (580)
Prepaid expenses and other current and non-current assets (645) (95)
Prepaid pension asset (198) (192)
Increase (decrease) in operating liabilities:    
Accounts payable (1,731) (340)
Accrued compensation, accrued expenses and other current and non-current liabilities 234 (274)
Customer deposits 797 (3,087)
Income taxes payable/receivable 1,628 783
Long-term portion of accrued compensation, accrued pension liability and accrued postretirement benefits 26 6
Net cash provided by operating activities 2,000 5,477
Investing activities:    
Purchase of property, plant and equipment (295) (300)
Purchase of investments (22,999) (20,996)
Redemption of investments at maturity 23,000 15,000
Net cash used by investing activities (294) (6,296)
Financing activities:    
Principal repayments on capital lease obligations (21) (21)
Issuance of common stock 48  
Dividends paid (301) (200)
Excess tax benefit (deficiency) on stock awards 61 (11)
Net cash used by financing activities (213) (232)
Effect of exchange rate changes on cash 6 (11)
Net increase (decrease) in cash and cash equivalents 1,499 (1,062)
Cash and cash equivalents at beginning of year 24,194 25,189
Cash and cash equivalents at end of period $ 25,693 $ 24,127