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
 3 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Operating activities:    
Net income $ 3,016 $ 878
Adjustments to reconcile net income to net cash used by operating activities:    
Depreciation 353 288
Amortization 158 3
Amortization of unrecognized prior service cost and actuarial losses 98 70
Discount accretion on investments (3) (15)
Stock-based compensation expense 134 59
Deferred income taxes 36 23
(Increase) decrease in operating assets:    
Accounts receivable (6,219) 1,346
Unbilled revenue 2,164 (2,933)
Inventories 2,588 2,354
Prepaid expenses and other current and non-current assets (373) (726)
Prepaid pension asset (208) (194)
Increase (decrease) in operating liabilities:    
Accounts payable (2,711) (1,526)
Accrued compensation, accrued expenses and other current and non-current liabilities (989) (1,882)
Customer deposits (867) (183)
Income taxes payable/receivable 1,211 (381)
Long-term portion of accrued compensation, accrued pension liability and accrued postretirement benefits 24 19
Net cash used by operating activities (1,588) (2,800)
Investing activities:    
Purchase of property, plant and equipment (340) (525)
Purchase of investments (9,698) (50,837)
Redemption of investments at maturity 17,320 56,350
Net cash provided by investing activities 7,282 4,988
Financing activities:    
Principal repayments on capital lease obligations (17) (16)
Issuance of common stock 66 66
Dividends paid (198) (198)
Excess tax deduction on stock awards 72 22
Net cash used by financing activities (77) (126)
Effect of exchange rate changes on cash 22 5
Net increase in cash and cash equivalents 5,639 2,067
Cash and cash equivalents at beginning of year 19,565 4,530
Cash and cash equivalents at end of year $ 25,204 $ 6,597