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Subsequent Events | 12 Months Ended
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Mar. 31, 2017
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events On April 4, 2017, the Company announced that the board of directors had approved a plan to reduce its global workforce by approximately 8%, effective April 4, 2017. The majority of the affected employees were located at the Company's Devens, Massachusetts office location. The purpose of the workforce reduction was to reduce operating expenses to better align with the Company’s current revenues. This workforce reduction, together with fixed cost savings from a more cost-effective facility, and variable cost savings expected to be realized from production volume aligned with the lower headcount, is expected to reduce the Company’s annualized expenses once the savings are fully realized, which is expected to begin to occur in the fiscal quarter ending March 31, 2018. The Company expects to incur restructuring charges of $1.5 million to $2.0 million in cash severance expenses in the fiscal quarter ending June 30, 2017 in connection with the workforce reduction. On May 5, 2017, the Company entered into an underwriting agreement with Oppenheimer & Co. Inc., as representative of the several underwriters named therein, relating to the issuance and sale (the "Offering") of 4.0 million shares of the Company's common stock at a public offering price of $4.00 per share. The net proceeds to the Company from the Offering were approximately $14.7 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Offering closed on May 10, 2017. In addition, the Company has granted the underwriters a 30 day option to purchase up to an additional 600,000 shares of common stock at the public offering price. The Offering was made pursuant to the Company's shelf registration statement on Form S-3 (Registration Statement No. 333-198851) previously filed with and declared effective by the Securities and Exchange Commission (the "SEC") and a prospectus supplement and accompanying prospectus filed with the SEC. The Company has performed an evaluation of subsequent events through the time of filing this Annual Report on Form 10-K with the SEC, and has determined that there are no other such events to report.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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