EMPLOYEE EQUITY INCENTIVE PLANS (Tables)

6 Months Ended

Sep. 30, 2012

EMPLOYEE EQUITY INCENTIVE PLANS

Schedule of expense resulting from options granted under the entity's equity incentive plans

	Three Months Ended September 30,						Six Months Ended September 30,
	2012			2011			2012			2011
Share-based compensation expense before income taxes	$	62		$	118		$	127		$	396
Income tax benefit	(11		)	(93		)	(33		)	(200		)
Total share-based compensation expense after income tax benefit	$	51		$	25		$	94		$	196
Share-based compensation effect on basic and diluted income (loss) per common share	$	0.00		$	0.00		$	0.01		$	0.01

Schedule of weighted average assumptions used in calculating the estimated fair value of stock option grants

	Three Months Ended September 30,					Six Months Ended September 30,
	2012		2011			2012		2011
Weighted average estimated fair value per award		(1)	$	0.61		$	(1)	$	0.83
Expected term from grant date (in years)		(1)	5				(1)	6
Risk free interest rate		(1)	1.8		%		(1)	2.5		%
Expected volatility		(1)	55		%		(1)	54		%
Expected dividend yield		(1)	—		%		(1)	—		%

(1)No options were granted during the three or six month periods ended September 30, 2012.

Schedule of stock option transactions

	Shares		Weighted Avg. Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value(1) (in thousands)
Outstanding as of April 1, 2012	2,096,952		$	4.08
Forfeited/expired	(726,800	)	3.44
Outstanding as of September 30, 2012	1,370,152		4.41		5.7	$	—
Options exercisable as of September 30, 2012	1,026,177		5.20		4.8	—
Options vested and expected to vest—non-officers	1,054,239		4.70		5.3	—
Options vested and expected to vest—officers	278,037		3.63		6.9	—

(1) The aggregate intrinsic value represents the difference between the exercise price and the value of New Frontier Media stock at the time of exercise or at the end of the period if unexercised.