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8. STOCK- BASED COMPENSATION (Tables)

9 Months Ended

Dec. 31, 2016

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, 2016		6,432,063		7,625,705				$	5.08
Options reserved		1,085,818		—					—
Terminated plan		(705,699)		—					—
Granted		(1,125,188)		1,125,188				$	4.92
Exercised		—		(138,683)				$	3.63		$	181,058
Forfeited		14,801		(962,634)				$	5.54
Balance at December 31, 2016		5,701,795		7,649,576				$	5.02
Options vested and exercisable				4,714,337		4.05		$	4.98		$	6,623,354
Options vested and expected to vest				7,595,022		5.74		$	5.02		$	9,967,662

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	-	3.40		849,904		$	3.17		4.44		618,296		$	3.09
$	3.43	-	4.00		1,216,534		$	3.80		3.25		1,055,944		$	3.83
$	4.17	-	4.81		910,620		$	4.41		4.98		820,370		$	4.40
$	4.90	-	4.98		777,463		$	4.95		7.25		310,603		$	4.91
$	4.99	-	5.23		1,241,316		$	5.09		8.70		99,960		$	5.19
$	5.28	-	5.76		819,305		$	5.55		7.42		311,727		$	5.62
$	6.00	-	6.54		863,008		$	6.32		4.83		798,008		$	6.32
$	6.61	-	6.86		651,853		$	6.77		6.06		379,856		$	6.74
$	7.00				206,193		$	7.00		3.59		206,193		$	7.00
$	9.20				113,380		$	9.20		4.08		113,380		$	9.20
					7,649,576		$	5.02		5.77		4,714,337		$	4.98

Summary of stock-based compensation expense by line item

		Three Months Ended December 31,						Nine Months Ended December 31,
		2016			2015			2016			2015
		(In thousands)
Cost of revenues		$	78		$	85		$	209		$	242
Research and development			251			208			712			649
Selling, general and administrative			100			121			438			496
Total		$	429		$	414		$	1,359		$	1,387

Schedule of weighted average assumptions

		Three Months Ended December 31,										Nine Months Ended December 31,
		2016					2015					2016					2015
		(In thousands)										(In thousands)
Stock Option Plans:
Risk-free interest rate				1.62	%				1.56	%		1.12	-	1.62	%		1.52	-	1.57	%
Expected life (in years)				5.00					5.00					5.00					5.00
Volatility				33.3	%				36.3	%		33.3	-	34.8	%		36.3	-	38.0	%
Dividend yield				—	%				—	%				—	%				—	%
Employee Stock Purchase Plan:
Risk-free interest rate				0.45	%				0.15	%		0.38	-	0.45	%		0.09	-	0.15	%
Expected life (in years)				0.50					0.50					0.50					0.50
Volatility				30.8	%				27.9	%		30.8	-	39.6	%		26.3	-	27.9	%
Dividend yield				—	%				—	%				—	%				—	%

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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