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Note 7 - Stockholders' Equity
 6 Months Ended
Sep. 30, 2019
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
Note
7
.
Stockholders' Equity
 
Public Offering of Common Stock
On
August 12, 2019,
we completed the sale and issuance of a total of
431,250
shares of our common stock, which includes our underwriters' exercise in full of an option to purchase up to an additional
56,250
shares. The offering price to the public was
$210.00
per share. The total proceeds we received from the offering, net of underwriting discounts and commissions and other offering expenses we paid was
$84,995.
 
 
Stock-Based Compensation
Amounts recognized in the Condensed Consolidated Financial Statements related to stock-based compensation are as follows:
 
   
Three Months Ended September 30,
    
Six Months Ended September 30,
  
   
2019
    
2018
    
2019
    
2018
  
Stock-based compensation expense
   $
1,182
     $
990
     $
2,050
     $
1,729
  
Amount of income tax (benefit) recognized in earnings
    
(368
 )    
38
      
(908
 )    
(858
 )
Stock-based compensation expense (benefit), net of tax
   $
814
     $
1,028
     $
1,142
     $
871
  
 
Stock-based compensation expense is included in cost of revenues, selling, general and administrative, and research and development expense in the accompanying Condensed Consolidated Statements of Income.
 
The following is a summary of stock option and restricted stock unit ("RSU") award activity for the
six
months ended
September 30, 2019
(shares in thousands):
 
   
Stock Options
    
Restricted Stock Units
  
   
Shares Subject to Options
    
Weighted- Average Exercise Price per Share
    
Number of Shares
    
Weighted- Average Grant Date Fair Value per Share
  
Outstanding at March 31, 2019
    
354
     $
94.04
      
31
     $
162.23
  
Awards granted
    
29
      
205.46
      
19
      
202.09
  
Awards forfeited or expired
    
(27
 )    
99.36
      
(2
 )    
156.14
  
Awards exercised or distributed
    
(40
 )    
84.54
      
(3
 )    
155.62
  
Outstanding as of September 30, 2019
    
316
     $
104.89
      
45
     $
180.13
  
 
Eight of the RSUs granted during the 
six
months ended
September 30, 2018
were subject to performance and service conditions and are considered performance share units ("PSUs"). During the
six
months ended
September 30, 2019
, we awarded PSUs that are subject to both service and performance conditions to eligible employees. The PSUs had a grant date fair value of
$202.00
 per share and vest based on our achievement of specific performance criteria for the
three
-year period from
April 1, 2019 
through
March 31, 2022 
and on continued service through
June 15, 2022.
The quantity of shares that will be issued upon vesting will range from
0%
 to
200%
 of the targeted number of shares; if the defined minimum targets are
not
met, then
no
shares will vest.