SHARE-BASED COMPENSATION

9 Months Ended

Dec. 31, 2016

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,
	2016		2015		2016		2015
Cost of product revenue	$	255	$	196	$	716	$	465
Cost of service revenue	1,015		721		3,058		1,848
Research and development	3,456		2,579		9,961		6,641
Sales and marketing	3,367		2,718		9,704		6,361
General and administrative	2,368		2,072		6,832		5,069
	$	10,461	$	8,286	$	30,271	$	20,384

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, 2016. 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, 2016, employees purchased 234,745 shares under the ESPP and the value per share was $29.58.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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