Restructuring Charges

12 Months Ended

Mar. 31, 2013

Restructuring and Related Activities Disclosure [Text Block]

15. Restructuring Charges

In the quarter ended September 30, 2009, we initiated plans to restructure our European manufacturing and assembly operations to align them to current market conditions. The plans primarily involved the termination of employees and centralization of certain positions. Costs related to termination of employees represented severance payments and benefits. The restructuring charges recorded in conjunction with the plans represented severance costs and have been included under “Restructuring charges” on our consolidated statements of operations.

During fiscal 2011 we incurred restructuring-related charges of approximately $759,000. The charges were comprised of asset impairments and exit costs for facility consolidations of $659,000 and employee severance costs of approximately $100,000. No restructuring charges occurred in fiscal 2012 and fiscal 2013.

The restructuring accrual as of March 31, 2013 and 2012 was included under “Accrued expenses and other liabilities” on our consolidated balance sheets.

The following table summarizes the significant activity within, and components of, our restructuring obligations as of fiscal 2013, 2012 and 2011 (in thousands):

	Severance and Related Benefits		Lease Commitment Accrual		Total
Balance at March 31, 2010	$	1,205	$	-	$	1,205
Charges (1)		100		442		542
Cash payments		(1,198)		(63)		(1,261)
Currency translation adjustment		(1)		-		(1)
Balance at March 31, 2011		106		379		485
Charges		(30)		-		(30)
Cash payments		-		(252)		(252)
Currency translation adjustment		(4)		-		(4)
Balance at March 31, 2012		72		127		199
Cash payments		-		(127)		(127)
Currency translation adjustment		(3)		-		(3)
Balance at March 31, 2013	$	69	$	-	$	69


(1) Excludes $217,000 related to impairment of assets due to the consolidation of facilities.

We anticipate that the remaining restructuring obligations of $69,000 as of March 31, 2013 will be paid by December 31, 2013.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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