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, 2011
Sep. 30, 2010
Operating activities:    
Net income $ 8,484 $ 2,435
Adjustments to reconcile net income to net cash used by operating activities:    
Depreciation 719 576
Amortization 216 6
Amortization of unrecognized prior service cost and actuarial losses 195 145
Discount accretion on investments (4) (32)
Stock-based compensation expense 320 184
Gain (loss) on disposal of property, plant and equipment 4 (10)
Deferred income taxes 174 156
(Increase) decrease in operating assets:    
Accounts receivable (9,384) (1,847)
Unbilled revenue 149 (972)
Inventories 1,629 2,109
Prepaid expenses and other current and non-current assets (62) (259)
Prepaid pension asset (416) (388)
Increase (decrease) in operating liabilities:    
Accounts payable (3,727) 121
Accrued compensation, accrued expenses and other current and non-current liabilities 764 (864)
Customer deposits (3,171) (3,231)
Income taxes payable/receivable 504 (357)
Long-term portion of accrued compensation, accrued pension liability and accrued postretirement benefits 27 33
Net cash used by operating activities (3,579) (2,195)
Investing activities:    
Purchase of property, plant and equipment (1,494) (689)
Proceeds from disposal of property, plant and equipment 4 14
Purchase of investments (14,398) (114,888)
Redemption of investments at maturity 33,220 120,920
Net cash provided by investing activities 17,332 5,357
Financing activities:    
Principal repayments on capital lease obligations (38) (33)
Issuance of common stock 66 104
Dividends paid (396) (396)
Purchase of treasury stock (8) (721)
Excess tax deduction on stock awards 72 52
Net cash used by financing activities (304) (994)
Effect of exchange rate changes on cash 29 42
Net increase in cash and cash equivalents 13,478 2,210
Cash and cash equivalents at beginning of year 19,565 4,530
Cash and cash equivalents at end of year $ 33,043 $ 6,740