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v3.7.0.1

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended
--- | ---
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015
Revenues |  |  |
Product | $ 71,055 | $ 66,274 | $ 58,910
Service | 22,610 | 18,385 | 12,420
Total revenues | 93,665 | 84,659 | 71,330
Cost of revenues |  |  |
Cost of products | 26,548 | 26,957 | 23,128
Cost of services | 13,878 | 6,289 | 4,810
Total cost of revenues | 40,426 | 33,246 | 27,938
Gross profit | 53,239 | 51,413 | 43,392
Operating expenses |  |  |
Selling | 9,955 | 7,500 | 7,176
General and administrative | 22,814 | 23,618 | 17,058
Research and development | 4,157 | 3,972 | 3,294
Total operating expenses | 36,926 | 35,090 | 27,528
Operating income | 16,313 | 16,323 | 15,864
Other expense, net | 2,017 | 768 | 517
Earnings before income taxes | 14,296 | 15,555 | 15,347
Income taxes | 3,113 | 4,386 | 5,764
Net income | $ 11,183 | $ 11,169 | $ 9,583
Net income per share: |  |  |
Basic (in dollars per share) | $ 3.04 | $ 3.10 | $ 2.72
Diluted (in dollars per share) | $ 2.91 | $ 2.97 | $ 2.63
Weighted average common shares outstanding: |  |  |
Basic (in shares) | 3,679 | 3,605 | 3,521
Diluted (in shares) | 3,844 | 3,757 | 3,650

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