SHARE-BASED COMPENSATION

6 Months Ended

Sep. 30, 2017

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

The following is a summary of share-based compensation expense including restricted stock units granted pursuant to the Company's 2007 Equity Incentive Plan, as amended, 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				Six Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Cost of product revenue	$	293	$	266	$	506	$	461
Cost of service revenue	1,294		1,245		2,310		2,043
Research and development	3,915		3,872		7,090		6,505
Sales and marketing	4,147		3,726		7,591		6,337
General and administrative	2,949		2,569		5,332		4,464
	$	12,598	$	11,678	$	22,829	$	19,810

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, 2017. 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 six months ended September 30, 2017, employees purchased 262,685 shares under the ESPP and the value per share was $32.75.