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7. STOCK- BASED COMPENSATION (Tables) | 6 Months Ended
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Sep. 30, 2014
Stock-Based Compensation |
Summary of stock option activities |
|  |  |  |  |  | Weighted |  |  |  |  |  |
|  |  |  | Number of Shares |  | Average |  | Weighted |  |  |
|  | Shares |  | Underlying |  | Remaining |  | Average |  |  |
|  | Available for |  | Options |  | Contractual |  | Exercise |  | Intrinsic
|  | Grant |  | Outstanding |  | Life (Years) |  | Price |  | Value
Balance at March 31, 2014 |  | 5,585,500 |  | 6,143,980 |  |  |  |  | 5.13 |  |  |
Options reserved |  | 1,377,699 |  | — |  |  |  |  | — |  |  |
Granted |  | (575,043) |  | 575,043 |  |  |  |  | 5.29 |  |  |
Exercised |  | — |  | (105,725) |  |  |  |  | 4.04 |  | $ | 224,178
Forfeited |  | 8,200 |  | (8,200) |  |  |  |  | 5.97 |  |  |
Balance at September 30, 2014 |  | 6,396,356 |  | 6,605,098 |  |  |  | $ | 5.16 |  |  |
Options vested and exercisable |  |  |  | 4,188,255 |  | 4.45 |  | $ | 4.83 |  | $ | 3,742,830
Options vested and expected to vest |  |  |  | 6,556,577 |  | 5.87 |  | $ | 5.16 |  | $ | 4,300,040
Schedule of options outstanding by exercise price |
|  |  |  |  | Number of |  | Options Outstanding |  | Options Exercisable
|  |  |  |  | Shares |  | Weighted |  | Weighted Average |  |  |  | Weighted
|  |  |  |  | Underlying |  | Average |  | Remaining |  | Number |  | Average
|  |  |  |  | Options |  | Exercise |  | Contractual |  | Vested and |  | Exercise
Exercise Price |  | Outstanding |  | Price |  | Life (Years) |  | Exercisable |  | Price
$ | 2.43 | - | 3.43 |  | 917,384 |  | $ | 3.16 |  | 4.35 |  | 917,384 |  | $ | 3.16
$ | 3.75 | - | 4.00 |  | 812,779 |  | $ | 3.96 |  | 4.46 |  | 812,779 |  | $ | 3.96
$ | 4.17 | - | 4.81 |  | 812,205 |  | $ | 4.39 |  | 5.85 |  | 419,494 |  | $ | 4.39
$ | 4.90 | - | 5.23 |  | 789,563 |  | $ | 5.11 |  | 8.84 |  | 132,396 |  | $ | 4.90
$ | 5.41 |  |  |  | 30,000 |  | $ | 5.41 |  | 9.88 |  | — |  | $ | —
$ | 5.50 |  |  |  | 783,433 |  | $ | 5.50 |  | 2.13 |  | 783,433 |  | $ | 5.50
$ | 5.59 | - | 5.76 |  | 675,410 |  | $ | 5.70 |  | 7.02 |  | 259,146 |  | $ | 5.69
$ | 6.00 | - | 6.54 |  | 798,358 |  | $ | 6.32 |  | 6.66 |  | 384,692 |  | $ | 6.19
$ | 6.61 | - | 6.86 |  | 666,153 |  | $ | 6.77 |  | 8.39 |  | 210,023 |  | $ | 6.78
$ | 7.00 | - | 9.20 |  | 319,813 |  | $ | 7.78 |  | 6.02 |  | 268,908 |  | $ | 7.51
|  |  |  |  | 6,605,098 |  | $ | 5.16 |  | 5.89 |  | 4,188,255 |  |  | 4.83
Summary of stock-based compensation expense by line item |
|  | Three Months Ended September 30, |  | Six Months Ended September 30,
|  | 2014 |  | 2013 |  | 2014 |  | 2013
|  | (In thousands)
Cost of revenues |  | $ | 104 |  | $ | 102 |  | $ | 204 |  | $ | 196
Research and development |  |  | 248 |  |  | 232 |  |  | 489 |  |  | 490
Selling, general and administrative |  |  | 219 |  |  | 229 |  |  | 451 |  |  | 442
Total |  | $ | 571 |  | $ | 563 |  | $ | 1,144 |  | $ | 1,128
Schedule of weighted average assumptions |
|  | Three Months Ended September 30, |  | Six Months Ended September 30,
|  | 2014 |  | 2013 |  | 2014 |  | 2013
|  | (In thousands) |  | (In thousands)
Stock Option Plans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk-free interest rate |  |  |  | 1.70 | % |  |  |  | 1.51 | % |  | 1.66 | - | 1.70 | % |  | 0.91 | - | 1.51 | %
Expected life (in years) |  |  |  | 5.00 |  |  |  |  | 5.00 |  |  |  |  | 5.00 |  |  |  |  | 5.00 |
Volatility |  |  |  | 44.8 | % |  |  |  | 47.6 | % |  | 44.5 | - | 44.8 | % |  | 47.6 | - | 48.4 | %
Dividend yield |  |  |  | — | % |  |  |  | — | % |  |  |  | — | % |  |  |  | — | %
Employee Stock Purchase Plan: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk-free interest rate |  |  |  | — | % |  |  |  | — | % |  |  |  | 0.05 | % |  |  |  | 0.09 | %
Expected life (in years) |  |  |  | — |  |  |  |  | — |  |  |  |  | 0.50 |  |  |  |  | 0.50 |
Volatility |  |  |  |  | % |  |  |  | — | % |  |  |  | 30.8 | % |  |  |  | 30.4 | %
Dividend yield |  |  |  | — | % |  |  |  | — | % |  |  |  | - | % |  |  |  | — | %

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