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
 6 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating activities:    
Net income $ 1,382 $ 4,337
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,048 1,126
Amortization 117 117
Amortization of unrecognized prior service cost and actuarial losses 695 607
Stock-based compensation expense 234 379
Loss on disposal or sale of property, plant and equipment 1  
Deferred income taxes 21 632
(Increase) decrease in operating assets:    
Accounts receivable (5,754) (4,941)
Unbilled revenue 1,752 10,084
Inventories 2,950 3,337
Prepaid expenses and other current and non-current assets (751) (401)
Income taxes payable/receivable 402 (2,013)
Prepaid pension asset   (611)
Increase (decrease) in operating liabilities:    
Accounts payable (4,003) (717)
Accrued compensation, accrued expenses and other current and non-current liabilities 170 (2,831)
Customer deposits 5,287 (1,319)
Long-term portion of accrued compensation, accrued pension liability and accrued postretirement benefits (300) (87)
Net cash provided by operating activities 3,251 7,699
Investing activities:    
Purchase of property, plant and equipment (159) (523)
Proceeds from disposal of property, plant and equipment   3
Purchase of investments (24,000) (18,000)
Redemption of investments at maturity 30,000 18,000
Net cash provided (used) by investing activities 5,841 (520)
Financing activities:    
Principal repayments on capital lease obligations (20) (27)
Issuance of common stock 38 97
Dividends paid (1,740) (1,620)
Purchase of treasury stock (30) (3,399)
Excess tax (deficiency) benefit on stock awards (20) 5
Net cash used by financing activities (1,772) (4,944)
Effect of exchange rate changes on cash (118) (90)
Net increase in cash and cash equivalents 7,202 2,145
Cash and cash equivalents at beginning of year 24,072 27,271
Cash and cash equivalents at end of period $ 31,274 $ 29,416