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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Operating activities:    
Net income $ 27,149 $ 14,814
Adjustments required to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,214 1,796
Bad debt expense 78 43
Stock-based compensation 21,731 12,696
Write-down of inventory 1,356 1,135
Excess tax benefit from stock-based awards (488)  
Deferred tax provision 17,382 675
Change in fair value of contingent consideration 882 365
Changes in assets and liabilities:    
Accounts receivable (5,084) (4,320)
Inventories (10,092) (3,582)
Prepaid expenses and other assets 343 (180)
Accounts payable (1,740) 368
Accrued expenses and other liabilities 632 (639)
Deferred revenue (125) 1,856
Net cash provided by operating activities 54,238 25,027
Investing activities:    
Purchases of marketable securities (189,595) (72,411)
Proceeds from the sale and maturity of marketable securities 170,195 57,890
Acquisition of ECP and AIS, net of cash assumed   (15,697)
Purchase of other investment (750) (1,250)
Purchases of property and equipment (7,933) (2,232)
Net cash used for investing activities (28,083) (33,700)
Financing activities:    
Proceeds from the exercise of stock options 8,237 8,624
Excess tax benefit from stock-based awards 488  
Taxes paid related to net share settlement of vesting of stock awards (3,908) (1,013)
Proceeds from the issuance of stock under employee stock purchase plan 451 397
Net cash provided by financing activities 5,268 8,008
Effect of exchange rate changes on cash (598) (773)
Net increase (decrease) in cash and cash equivalents 30,825 (1,438)
Cash and cash equivalents at beginning of period 22,401 20,916
Cash and cash equivalents at end of period 53,226 19,478
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 724 1,090
Supplemental disclosure of non-cash investing and financing activities:    
Contingent consideration related to acquisition of ECP   6,000
Property and equipment in accounts payable and accrued expenses $ 471 $ 501