Note 8 - Commitments and Contingencies	6 Months Ended
Sep. 30, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 8 - Commitments and Contingencies Under the terms of the PCD Agreement, we are required to pay contingent consideration if the cumulative revenues for our process challenge device business for the three years subsequent to the acquisition meet certain levels. The potential consideration payable ranges from $0 to $1,500,000 and is based upon a sliding scale of three -year cumulative revenues between $9,900,000 and $12,600,000 , with payments made annually. Based upon both historical and projected growth rates, we initially recorded $300,000 of contingent consideration payable which represented our best estimate of the amount that would ultimately be paid. We paid $150,000 of the contingent consideration during the year ended March 31, 2016 ( based upon the then current run rate projected over the entire three -year contingent consideration period). Since the initial payment, the revenues for these products have significantly increased and as a result, during the year ended March 31, 2017 we recorded an additional $450,000 accrual (which was paid in our third quarter ending December 31, 2016.). During the three months ended June 30, 2017 revenues continued to increase and after revising our forecast for the process challenge device (“PCD”) product revenues through the end of the earn-out period, we recorded an additional $300,000 accrual, which is included in other income, net in the accompanying condensed consolidated statement of income for the six months ended September 30, 2017. The remaining contingent consideration amount is also subject to additional modification at the end of the third year of the earn-out period ( October 2017) based upon the actual revenues earned over the contingent consideration period. Any changes to the contingent consideration ultimately paid will result in additional income or expense in our condensed consolidated statements of income. We will continue to monitor the results of our PCD business and we will adjust the contingent liability on a go forward basis, based on then current information.

Note

Commitments and

Contingencies

Under the terms of the PCD Agreement, we are required to pay contingent consideration if the cumulative revenues for our process challenge device business for the

three

years subsequent to the acquisition meet certain levels. The potential consideration payable ranges from

$1,500,000

and is based upon a sliding scale of

three

-year cumulative revenues between

$9,900,000

and

$12,600,000

, with payments made annually. Based upon both historical and projected growth rates, we initially recorded

$300,000

of contingent consideration payable which represented our best estimate of the amount that would ultimately be paid. We paid

$150,000

of the contingent consideration during the year ended

March 31, 2016 (

based upon the then current run rate projected over the entire

three

-year contingent consideration period).

Since the initial payment, the revenues

for these products have significantly increased and as a result, during the year ended

March 31, 2017

we recorded an additional

$450,000

accrual (which was paid in our

third

quarter ending

December 31, 2016.).

During the

three

months ended

June 30, 2017

revenues continued to increase and after revising our forecast for the process challenge device (“PCD”) product revenues through the end of the earn-out period, we recorded an additional

$300,000

accrual, which is included in other income, net in the accompanying condensed consolidated statement of income for the

six

months ended

September 30, 2017.

The remaining contingent consideration amount is also subject to additional modification at the end of the

third

year of the earn-out period (

October 2017)

based upon the actual revenues earned over the contingent consideration period. Any changes to the contingent consideration ultimately paid will result in additional income or expense in our condensed consolidated statements of income. We will continue to monitor the results of our PCD business and we will adjust the contingent liability on a go forward basis, based on then current information.