Stock-Based Compensation (Tables)

9 Months Ended

Dec. 31, 2012

The following table summarizes stock option activity under all plans and other grants authorized by the Board of Directors.


	Number of Shares			Aggregate Intrinsic Value (in thousands)		Approximate Remaining Contractual Term (Years)		Weighted- Average Exercise Price

Outstanding at March 31, 2012		759,577		$	800		7	$	8.17
Granted		411,000			—		10		8.09
Exercised		(25,415	)		162		—		6.39

Canceled or expired		(32,001	)		—		—		8.55

Outstanding at December 31, 2012		1,113,161			740		7		8.17


Options exercisable at December 31, 2012		607,159			625		6		8.20
Unvested options expected to become exercisable after December 31, 2012		506,002			114		9		8.14

Shares available for future option grants at December 31, 2012 (a)		641,357

(a)	May be decreased by restricted stock grants.

A summary of restricted stock award activity under all plans follows.


	Number of Shares			Weighted – Average Grant Date Fair Value

Non-vested at March 31, 2012		21,094		$	8.54
Granted		23,934			7.52
Vested		(20,903	)		8.56
Cancelled		—			—

Non-vested at December 31, 2012		24,125			7.51

Black Scholes Based Option Pricing Model [Member]


	2013 $3.02 value per option			2013 $3.05 value per option			2012 $2.75 value per option			2012 $2.58 value per option			2012 $2.72 value per option			2012 $2.81 value per option			2012 $2.13 value per option
Dividend yield		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Volatility		35.5	%		34.0	%		25.6	%		25.8	%		25.8	%		25.4	%		25.3	%
Risk-free interest rate		1.2	%		1.2	%		1.5	%		1.6	%		1.6	%		1.9	%		1.9	%
Expected term of options (in years)		7.0			7.0			7.0			7.0			7.0			7.0			7.0

Monte Carlo Simulation [Member]

Company used the following assumptions to estimate the fair value of option grants under the Monte Carlo simulation:


	2013 $1.86 value per option
Dividend yield		0.0	%
Volatility		34.0	%
Risk-free interest rate		1.8	%
Expected term of options (in years)		10.0
Forfeiture adjustment		0.2	%
Suboptimal behavior factor		1.9