SHARE-BASED COMPENSATION

9 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The following is a summary of share-based compensation expense including restricted stock units and employee stock purchases made under the Company's 2011 Employee Stock Purchase Plan (ESPP) based on estimated fair values within the applicable cost and expense lines identified below (in thousands):



	Three Months Ended				Nine Months Ended
	December 31,				December 31,
	2015		2014		2015		2014
Cost of product revenue	$	196	$	85	$	465	$	238
Cost of service revenue	721		294		1,848		836
Research and development	2,579		1,455		6,641		3,971
Sales and marketing	2,718		1,221		6,361		3,419
General and administrative	2,072		1,095		5,069		3,483
	$	8,286	$	4,150	$	20,384	$	11,947

Employee Stock Purchase Plan – The Company maintains the ESPP for all eligible employees as described in the Company’s Annual Report on Form 10-K for the year ended March 31, 2015. Under the ESPP, shares of the Company’s common stock may be purchased on the last day of each bi-annual offering period at 85% of the fair value on the last day of such offering period. The offering periods run from March 1st through August 31st and from September 1st through the last day of February each year. During the nine months ended December 31, 2015, employees purchased 82,836 shares under the ESPP and the value per share was $36.55.