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Note 9 - Subsequent Events
6 Months Ended
Sep. 30, 2014
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

Note 9 - Subsequent Event


In October 2014, our Board of Directors declared a quarterly cash dividend of $0.16 per share of common stock, payable on December 15, 2014, to shareholders of record at the close of business on November 28, 2014.


In October 2014, we completed a business combination (the “PCD Acquisition”) with PCD-Process Challenge Devices, LLC (“PCD-LLC”) whereby we acquired substantially all of the assets (other than cash and accounts receivable) and certain liabilities of PCD-LLC’s process challenge device business. The purchase price for the acquired assets was $5,250,000, consisting of a cash payment of $5,000,000 at closing with the remaining $250,000 due at the one year anniversary of the closing date, subject to a possible post-closing adjustment based on potential indemnification losses of the Company. In addition, the acquisition agreement provides for contingent consideration of up to $1,500,000 based upon the cumulative three year revenues of our process challenge device business subsequent to the acquisition.