Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Operating activities:    
Net income $ 7,828 $ 7,052
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,478 1,390
Amortization 168 170
Amortization of unrecognized prior service cost and actuarial losses 663 666
Discount accretion on investments (6) (10)
Stock-based compensation expense 489 463
Loss on disposal of property, plant and equipment 207 8
Deferred income taxes 88 (259)
(Increase) decrease in operating assets:    
Accounts receivable (3,019) 210
Unbilled revenue 6,559 5,017
Inventories 275 (1,335)
Prepaid expenses and other current and non-current assets (326) 74
Prepaid pension asset (595) (575)
Increase (decrease) in operating liabilities:    
Accounts payable (1,429) (257)
Accrued compensation, accrued expenses and other current and non-current liabilities 76 (1,138)
Customer deposits 1,305 2,087
Income taxes payable/receivable 904 1,354
Long-term portion of accrued compensation, accrued pension liability and accrued postretirement benefits (94) 31
Net cash provided by operating activities 14,571 14,948
Investing activities:    
Purchase of property, plant and equipment (2,161) (971)
Proceeds from disposal of property, plant and equipment 32 4
Purchase of investments (80,495) (60,488)
Redemption of investments at maturity 77,500 50,000
Net cash used by investing activities (5,124) (11,455)
Financing activities:    
Principal repayments on capital lease obligations (65) (61)
Issuance of common stock 421 55
Dividends paid (905) (599)
Excess tax benefit (deficiency) on stock awards 220 (2)
Net cash used by financing activities (329) (607)
Effect of exchange rate changes on cash 95 35
Net increase in cash and cash equivalents 9,213 2,921
Cash and cash equivalents at beginning of period 24,194 25,189
Cash and cash equivalents at end of period $ 33,407 $ 28,110