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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:      
Net income $ 27,177 $ 32,716 $ 31,630
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 8,006 7,340 6,697
Investment premium amortization, net 1,092 666 1,180
Gain on sale of discontinued operations, net of tax 0 0 (559)
Net loss on disposals of property and equipment 102 115 103
Impairment loss of intangible assets 0 0 13
Foreign exchange (gain) loss (996) 627 (149)
Share-based compensation expense 13,661 11,079 11,100
Excess tax benefits from share-based awards [1] 0 (330) (1,621)
Deferred income taxes 2,110 (1,319) 1,317
Equity in net (income) loss of unconsolidated affiliates 254 184 (22)
Gain on sale of equity method investment (1,181) (6,053) 0
Changes in assets and liabilities:      
Receivables, net (7,470) (4,564) (4,914)
Inventories (8,181) (8,184) 74
Prepaid expenses and other current assets (228) 1,386 (1,912)
Other assets (1,791) (5,674) (1,829)
Accounts payable 4,206 238 (443)
Accrued payroll and related expenses 1,674 1,257 (3,081)
Accrued taxes (744) 760 (4,065)
Other liabilities 5,428 2,757 (4,848)
Deferred revenue (535) (999) (667)
Warranty reserve 932 1,150 52
Net cash provided by operating activities 43,516 33,152 28,056
Cash flows from investing activities:      
Purchases of available-for-sale investments (109,448) (4,401) (2,731)
Purchases of held-to-maturity investments (50,132) (52,513) (61,049)
Proceeds from maturities and redemptions of available-for-sale investments 39,460 4,300 0
Proceeds from maturities and redemptions of held-to-maturity investments 52,798 42,140 48,959
Purchases of property and equipment (6,046) (10,171) (5,185)
Acquisitions, net of cash acquired 0 (785) (1,131)
Cash paid for investment in unconsolidated affiliate (1,250) (2,999) 0
Proceeds from sale of equity method investment 1,181 8,526 0
Proceeds from sale of discontinued operations 0 0 900
Net cash used in investing activities (73,437) (15,903) (20,237)
Cash flows from financing activities:      
Tax withholdings related to net share settlements of restricted stock units (2,590) (2,234) (5,250)
Excess tax benefits from share-based awards [1] 0 330 1,621
Repurchases of common stock 0 0 (13,040)
Proceeds from the exercise of warrants 0 0 12
Dividends paid (13,611) (11,715) (9,970)
Net cash used in financing activities (16,201) (13,619) (26,627)
Effect of exchange rate changes on cash and cash equivalents 1,067 (621) 116
Net increase (decrease) in cash and cash equivalents (45,055) 3,009 (18,692)
Cash and cash equivalents at beginning of year 91,332 88,323 107,015
Cash and cash equivalents at end of year 46,277 91,332 88,323
Supplemental disclosure of cash flow information:      
Cash paid for income taxes, net of refunds 14,498 16,901 19,927
Supplemental disclosure of non-cash flow information:      
Change in unrealized gain (loss) on investments, net of tax (165) (5) 1
Transfers of equipment between inventory and property and equipment, net 3,067 4,549 987
Net change in capitalized share-based compensation (3) 47 14
Common stock withheld for employee taxes in connection with share-based compensation 2,590 2,234 5,250
Repayment of notes payable by credits from municipal agency $ 101 $ 101 $ 101
[1] The Company adopted Accounting Standards Update ("ASU") No. 2016-09, "Improvements to Employee Share-based Payment Accounting" ("ASU 2016-09"), during the first quarter of fiscal 2018. This standard eliminates the requirement to reclassify cash flows related to excess tax benefits from operating activities to financing activities on the statements of cash flows. The Company adopted the guidance prospectively effective April 1, 2017. The adoption of ASU 2016-09 is discussed further in Note 1, "Description of Business and Summary of Significant Accounting Policies."