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EQUITY COMPENSATION PLANS AND SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Mar. 31, 2017
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 for fiscal 2017, 2016 and 2015, which is included in our consolidated statements of income (in thousands, except per share data):
 
Year Ended March 31,
2017
2016
2015
Cost of revenues(1)
$
1,453
 
$
1,261
 
$
1,409
 
Research and development
 
2,349
 
 
2,056
 
 
1,574
 
Sales and marketing(2)
 
2,851
 
 
3,189
 
 
3,156
 
General and administrative
 
4,426
 
 
4,594
 
 
3,648
 
Share-based compensation expense before income taxes
 
11,079
 
 
11,100
 
 
9,787
 
Income tax benefit
 
(3,834
)
 
(3,903
)
 
(3,293
)
Total share-based compensation expense after income taxes
$
7,245
 
$
7,197
 
$
6,494
 
Net impact of share-based compensation on:
 
 
 
 
 
 
 
 
 
Basic net income per share
$
0.32
 
$
0.32
 
$
0.29
 
Diluted net income per share
$
0.32
 
$
0.31
 
$
0.28
 
 
 
 
(1)
Cost of revenues reported in the table include share-based compensation expense from continuing and discontinued operations. Share-based compensation expense included in cost of revenues from continuing operations during fiscal 2017, 2016 and 2015, was $1.5 million, $1.1 million and $1.1 million, respectively, and from discontinued operations during fiscal 2017, 2016 and 2015, was $0, $0.1 million and $0.3 million, respectively.
 
(2)
Sales and marketing expenses reported in the table include share-based compensation expense from continuing and discontinued operations. Share-based compensation expense included in sales and marketing expenses from continuing operations during fiscal 2017, 2016 and 2015 was $2.9 million, $3.0 million and $2.4 million, respectively, and from discontinued operations during fiscal 2017, 2016 and 2015 was $0, $0.2 million and $0.7 million, respectively.
Stock Option Activity
Stock option activity under all stock plans is summarized as follows:
 
Number of
Shares
Weighted
Average
Exercise
Price
Per Share
Outstanding at March 31, 2014
 
 
 
 
 
 
(2,000 shares exercisable at a weighted average exercise price of $13.24 per share)
 
2,000
 
$
13.24
 
Granted
 
—
 
 
—
 
Exercised
 
(2,000
)
 
13.24
 
Canceled or forfeited
 
—
 
 
—
 
Outstanding at March 31, 2015
 
—
 
$
—
 
Restricted Stock Unit Activity
The following table summarizes restricted stock unit activity during fiscal 2017, 2016 and 2015.
 
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)
Unvested at March 31, 2014
 
774,000
 
$
30.98
 
 
113,000
 
$
42.43
 
Granted
 
189,000
 
 
43.85
 
 
172,000
 
 
40.82
 
Vested(2)
 
(272,000
)
 
27.24
 
 
—
 
 
—
 
Canceled and forfeited
 
(12,000
)
 
30.37
 
 
(137,000
)
 
42.15
 
Unvested at March 31, 2015
 
679,000
 
$
36.08
 
 
148,000
 
$
40.82
 
Granted
 
188,000
 
 
52.90
 
 
187,000
 
 
55.08
 
Vested(2)
 
(288,000
)
 
30.06
 
 
—
 
 
—
 
Canceled and forfeited
 
(55,000
)
 
36.48
 
 
(24,000
)
 
55.08
 
Unvested at March 31, 2016
 
524,000
 
$
45.37
 
 
311,000
 
$
48.29
 
Granted
 
207,000
 
 
46.05
 
 
152,000
 
 
44.54
 
Vested(2)
 
(156,000
)
 
41.57
 
 
(24,000
)
 
40.82
 
Canceled and forfeited
 
(40,000
)
 
47.02
 
 
—
 
 
—
 
Unvested at March 31, 2017
 
535,000
 
$
46.62
 
 
439,000
 
$
47.40
 
 
 
 
(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.