EQUITY COMPENSATION PLANS AND SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Jun. 30, 2014

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, 2014 and 2013, which is included in our condensed consolidated statements of income (in thousands, except per share data):

	Three Months Ended June 30,
	2014			2013
Cost of revenues	$	341		$	254
Research and development		441			367
Sales and marketing		826			706
General and administrative		424			922
Share-based compensation expense before income taxes		2,032			2,249
Income tax benefit		(684	)		(768	)
Total share-based compensation expense after income taxes	$	1,348		$	1,481
Net impact of share-based compensation on:
Basic net income per share	$	0.06		$	0.07
Diluted net income per share	$	0.06		$	0.07

Stock option activity

The following table summarizes information regarding options outstanding and options exercisable at June 30, 2014 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, 2014		2,000		$	13.24
Granted		-			-
Exercised		(200	)		19.45
Canceled or forfeited		-			-
Outstanding at June 30, 2014		1,800		$	12.65		0.63	$	66
Vested and expected to vest at June 30, 2014		1,800		$	12.65		0.63	$	66
Exercisable at June 30, 2014		1,800		$	12.65		0.63	$	66

Restricted stock unit activity

The following table summarizes restricted stock unit activity for the three months ended June 30, 2014:

	Time-Based					Performance-Based
	Restricted Stock Units					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, 2014		774,000		$	30.98		113,000		$	42.43
Granted		108,000			40.82		172,000			40.82
Vested(2)		(189,000	)		28.70		-			-
Canceled and forfeited		(4,000	)		30.36		(113,000	)		42.43
Nonvested at June 30, 2014		689,000		$	33.15		172,000		$	40.82

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