EQUITY COMPENSATION PLANS AND SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Jun. 30, 2012

EQUITY COMPENSATION PLANS AND SHARE-BASED COMPENSATION [Abstract]

Total share-based compensation expense, net of tax

The following table summarizes total share-based compensation expense, net of tax, related to restricted stock units during the three months ended June 30, 2012 and 2011, which is included in our condensed consolidated statements of income (in thousands, except per share data):

	Three Months Ended June 30,
	2012			2011
Cost of revenues	$	223		$	195
Research and development		300			212
Sales and marketing		688			498
General and administrative		591			215
Share-based compensation expense before income taxes		1,802			1,120
Income tax benefit		(644	)		(389	)
Total share-based compensation expense after income taxes	$	1,158		$	731
Net impact of share-based compensation on:
Basic net income per share	$	0.05		$	0.03
Diluted net income per share	$	0.05		$	0.03

Stock option activity

The following table summarizes information regarding options outstanding and options exercisable at June 30, 2012 and the changes during the three-month period then ended:

	Number of Shares			Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value (In thousands)
Outstanding at March 31, 2012		282,000		$	15.21
Granted		-			-
Exercised		(16,000	)		4.81
Canceled or forfeited		-			-
Outstanding at June 30, 2012		266,000		$	15.84		1.58	$	5,623
Vested and expected to vest at June 30, 2012		266,000		$	15.84		1.58	$	5,623
Exercisable at June 30, 2012		266,000		$	15.84		1.58	$	5,623

Restricted stock unit activity

The following table summarizes restricted stock unit activity for the three months ended June 30, 2012:

	Time-Based Restricted Stock Units					Performance-Based Restricted Stock Units
	Number of Shares			Weighted Average Grant Date Fair Value(1)		Number of Shares		Weighted Average Grant Date Fair Value(1)
Nonvested at March 31, 2012		1,120,000		$	24.06		-	$	-
Granted(2)		120,000			35.62		21,000		35.62
Vested(3)		(197,000	)		23.99		-		-
Canceled or forfeited		(7,000	)		24.95		-		-
Nonvested at June 30, 2012		1,036,000		$	25.40		21,000	$	35.62

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(1) The weighted average grant date fair value of restricted stock units is based on the number of shares and the closing market price of our common stock on the date of grant.

(2) The shares granted for restricted stock unit awards (performance vesting) do not include the awards approved by the Board of Directors during the period that have not been granted in accordance with ASC 718-10-55-95.

(3) The number of restricted stock units vested includes shares that we withheld on behalf of our employees to satisfy the statutory tax withholding requirements.