Employee Benefit Plans

9 Months Ended

Dec. 31, 2012

Employee Benefit Plans

Employee Benefit Plans

8. Employee Benefit Plans

We currently administer three separate stock incentive plans. Of these plans, we may only grant future awards from the 2007 Omnibus Incentive Plan (the “2007 Plan”). The 2007 Plan allows for the issuance of stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”) and other stock-based awards. At December 31, 2012, there were approximately 865,000 shares of common stock available for grant or issuance under the 2007 Plan.

Stock Options

A summary of activity with respect to our stock options for the nine months ended December 31, 2012 is as follows:

			Weighted-
			Average
			Exercise
	Number of		Price Per
	Shares		Share
	(In thousands)
Options outstanding at March 31, 2012	2,493		$	1.64
Granted	220		1.53
Exercised	(179	)	1.34
Forfeited	(20	)	1.10
Expired	(730	)	1.45
Options outstanding at December 31, 2012	1,784		$	1.73

Restricted Stock Units

A summary of activity with respect to our RSUs, which entitle the holder to receive one share of our common stock for each RSU upon vesting, for the nine months ended December 31, 2012 is as follows:

	Number of
	Shares
	(In thousands)
Restricted stock units ouststanding at March 31, 2012	235
Restricted stock units granted	80
Restricted stock units vested	(68	)
Restricted stock units forfeited	(10	)
Restricted stock units ouststanding at December 31, 2012	237

Stock-Based Compensation Expense

The following table presents stock-based compensation expense that is included in each functional line item on our unaudited consolidated statements of operations:

	Three Months Ended				Nine Months Ended
	December 31,				December 31,
	2012		2011		2012		2011
	(In thousands)				(In thousands)
Cost of revenues	$	10	$	9	$	32	$	31
Selling, general and administrative expense	67		53		188		200
Gain from sale of discontinued operations, net of tax	—		—		—		6
	$	77	$	62	$	220	$	237

At December 31, 2012, there was approximately $529,000 of unrecognized compensation expense related to unvested stock options and RSUs. This expense is currently expected to be recognized over a weighted average period of approximately 2.4 years. If there are any modifications or cancellations of the underlying unvested awards, we may be required to accelerate, increase or cancel any remaining unearned stock-based compensation expense. Future stock-based compensation expense and unearned stock-based compensation will increase to the extent that we grant additional stock options, RSUs or other stock-based awards.