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, unless otherwise specified
 3 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Operating activities:    
Net income $ 1,390 $ 3,016
Adjustments to reconcile net income to net cash provided (used) by operating activities:    
Depreciation 464 353
Amortization 56 158
Amortization of unrecognized prior service cost and actuarial losses 222 98
Discount accretion on investments (2) (3)
Stock-based compensation expense 171 134
Loss on disposal or sale of property, plant and equipment 3  
Deferred income taxes (99) 36
(Increase) decrease in operating assets:    
Accounts receivable 2,039 (6,219)
Unbilled revenue 5,012 2,164
Inventories (580) 2,588
Prepaid expenses and other current and non-current assets (95) (373)
Prepaid pension asset (192) (208)
Increase (decrease) in operating liabilities:    
Accounts payable (340) (2,711)
Accrued compensation, accrued expenses and other current and non-current liabilities (274) (989)
Customer deposits (3,087) (867)
Income taxes payable/receivable 783 1,211
Long-term portion of accrued compensation, accrued pension liability and accrued postretirement benefits 6 24
Net cash provided (used) by operating activities 5,477 (1,588)
Investing activities:    
Purchase of property, plant and equipment (300) (340)
Purchase of investments (20,996) (9,698)
Redemption of investments at maturity 15,000 17,320
Net cash (used) provided by investing activities (6,296) 7,282
Financing activities:    
Principal repayments on capital lease obligations (21) (17)
Issuance of common stock    66
Dividends paid (200) (198)
Excess tax (deficiency) benefit on stock awards (11) 72
Net cash used by financing activities (232) (77)
Effect of exchange rate changes on cash (11) 22
Net (decrease) increase in cash and cash equivalents (1,062) 5,639
Cash and cash equivalents at beginning of year 25,189 19,565
Cash and cash equivalents at end of year $ 24,127 $ 25,204