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, 2018
Sep. 30, 2017
Operating activities:    
Net income $ 4,150 $ 945
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 980 993
Amortization 119 118
Amortization of unrecognized prior service cost and actuarial losses 437 525
Stock-based compensation expense 534 149
Loss on disposal or sale of property, plant and equipment 30 1
Deferred income taxes 207 106
(Increase) decrease in operating assets:    
Accounts receivable 2,656 151
Unbilled revenue (5,276) 3,186
Inventories 3,652 846
Prepaid expenses and other current and non-current assets (679) (774)
Income taxes receivable (303) (1,507)
Prepaid pension asset (576) (478)
Increase (decrease) in operating liabilities:    
Accounts payable (6,097) (3,166)
Accrued compensation, accrued expenses and other current and non-current liabilities 1,086 (864)
Customer deposits 4,096 560
Long-term portion of accrued compensation, accrued pension liability and accrued postretirement benefits 59 57
Net cash provided by operating activities 5,075 848
Investing activities:    
Purchase of property, plant and equipment (367) (431)
Proceeds from disposal of property, plant and equipment   1
Purchase of investments (64,611) (25,000)
Redemption of investments at maturity 45,023 18,000
Net cash used by investing activities (19,955) (7,430)
Financing activities:    
Principal repayments on capital lease obligations (52) (51)
Issuance of common stock 171  
Dividends paid (1,868) (1,758)
Purchase of treasury stock (146) (119)
Net cash used by financing activities (1,895) (1,928)
Effect of exchange rate changes on cash (303) 138
Net decrease in cash and cash equivalents (17,078) (8,372)
Cash and cash equivalents at beginning of year 40,456 39,474
Cash and cash equivalents at end of period $ 23,378 $ 31,102