Commitments and Contingencies

12 Months Ended

Mar. 31, 2014

Commitments and Contingencies

NOTE 7 — COMMITMENTS AND CONTINGENCIES:

Leases:

The Company leases warehouse and office space with annual commitments as follows (in thousands):

			Rental Commitments
Fiscal Years	Amount		Affiliate		Non-Affiliate
2015		914		—		914
2016		140		—		140
2017		46		—		46
2018		3		—		3
Thereafter		—		—		—
Total	$	1,103	$	—	$	1,103

Rent expense resulting from leases with non-affiliated companies aggregated $777,000 and $1,151,000, respectively, for fiscal 2014 and 2013.

Letters of Credit:

The Company utilizes the services of one of its banks to issue secured letters of credit on behalf of the Company, as needed, on a 100% cash collateralized basis. At March 31, 2014 and March 31, 2013, the Company had nil and approximately $0.1 million of letters of credit outstanding.

Capital Expenditure and Other Commitments:

As of March 31, 2014, there were no capital expenditure or other commitments other than the normal purchase orders used to secure product.

Employee Benefit Plan:

The Company currently sponsors a defined contribution 401(k) retirement plan which is subject to the provisions of the Employee Retirement Income Security Act. The Company matches a percentage of the participants’ contributions up to a specified amount. These contributions to the plan for fiscal 2014 and 2013 were $58,000 and $65,000, respectively, and were charged against earnings for the periods presented.