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Line of Credit
9 Months Ended
Dec. 31, 2012
Line of Credit Facility [Abstract]  
Line of Credit
Line of Credit
We currently have a revolving line of credit for $15.0 million, that matures on December 1, 2013. Interest accrues on outstanding balances under the line of credit at a rate equal to LIBOR plus 1.5 percent. The credit line is secured by substantially all of our assets and includes certain financial covenants. In August 2012, the agreement was amended to allow for letters of credit to be issued, provided that at any time the amount of outstanding letters of credit shall not exceed $1.0 million. The letters of credit are reserved under the line of credit and will reduce the amount available for borrowing. At December 31, 2012, issued and outstanding letters of credit of $0.3 million were reserved against the line of credit, and we had no outstanding borrowings under the agreement.

On February 5, 2013, the agreement was amended, extending its maturity to December 1, 2014. Also, as of January 1, 2013, the fee we will incur on the unused portion will be 0.2 percent per annum. The remaining terms are effective as of December 1, 2012, and interest will accrue on outstanding balances under the line of credit at a rate equal to LIBOR plus 2.0 percent. The amendment contains certain liquidity, asset and financial covenants and, as of December 31, 2012, we were in compliance with those covenants.