Fair Value Measurements (Tables)

3 Months Ended

Jun. 30, 2016

The following summarizes the Company’s financial assets and liabilities measured at fair value, by level within the fair value hierarchy:

	June 30, 2016								March 31, 2016
			Fair Value Measurements Using Inputs Considered as								Fair Value Measurements Using Inputs Considered as
	Fair Value		Level 1		Level 2		Level 3		Fair Value		Level 1		Level 2		Level 3
Assets
Short-term investments
Mutual funds	$	1,982,000	$	1,982,000	-		-		$	1,813,000	$	1,813,000	-		-

Liabilities
Accrued liabilities
Contingent consideration		314,000		-		-	$	314,000		224,000		-		-	$	224,000
Other current liabilities
Deferred compensation		1,982,000		1,982,000		-		-		1,813,000		1,813,000		-		-
Forward foreign currency exchange contracts		1,095,000		-	$	1,095,000		-		416,000		-	$	416,000		-
Other liabilities
Warrant liability		10,054,000		-		-		10,054,000		15,643,000		-		-		15,643,000
Contingent consideration		-		-		-		-		106,000		-		-		106,000

The following assumptions were used to determine the fair value of the Supplier Warrant:

	Supplier Warrant
Risk free interest rate		0.50	%
Expected life in years		1.25
Expected volatility		36.10	%
Dividend yield		-
Probability of future financing		0	%

The following summarizes the activity for Level 3 fair value measurements:

	Three Months Ended June 30,
	2016						2015
	Supplier Warrant			Contingent Consideration			Supplier Warrant		Contingent Consideration
Beginning balance	$	15,643,000		$	330,000		$	10,506,000	$	-
Newly issued		-			-			-		1,320,000
Total (gain) loss included in net income		(5,589,000	)		(16,000	)		1,142,000		-
Exercises/settlements		-			-			-		-
Net transfers in (out) of Level 3		-			-			-		-
Ending balance	$	10,054,000		$	314,000		$	11,648,000	$	1,320,000