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, 2017
Sep. 30, 2016
Operating activities:    
Net income $ 945 $ 1,382
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 993 1,048
Amortization 118 117
Amortization of unrecognized prior service cost and actuarial losses 525 695
Stock-based compensation expense 149 234
Loss on disposal or sale of property, plant and equipment 1 1
Deferred income taxes 106 21
(Increase) decrease in operating assets:    
Accounts receivable 151 (5,754)
Unbilled revenue 3,186 1,752
Inventories 846 2,950
Prepaid expenses and other current and non-current assets (774) (751)
Income taxes receivable (1,507) 402
Prepaid pension asset (478)  
Increase (decrease) in operating liabilities:    
Accounts payable (3,166) (4,003)
Accrued compensation, accrued expenses and other current liabilities (864) 170
Customer deposits 560 5,287
Long-term portion of accrued compensation, accrued pension liability and accrued postretirement benefits 57 (300)
Net cash provided by operating activities 848 3,251
Investing activities:    
Purchase of property, plant and equipment (431) (159)
Proceeds from disposal of property, plant and equipment 1  
Purchase of investments (25,000) (24,000)
Redemption of investments at maturity 18,000 30,000
Net cash (used) provided by investing activities (7,430) 5,841
Financing activities:    
Principal repayments on capital lease obligations (51) (20)
Issuance of common stock   38
Dividends paid (1,758) (1,740)
Purchase of treasury stock (119) (30)
Excess tax deficiency on stock awards   (20)
Net cash used by financing activities (1,928) (1,772)
Effect of exchange rate changes on cash 138 (118)
Net (decrease) increase in cash and cash equivalents (8,372) 7,202
Cash and cash equivalents at beginning of year 39,474 24,072
Cash and cash equivalents at end of period $ 31,102 $ 31,274