Property, Equipment, and Related Depreciation and Amortization

9 Months Ended

Dec. 31, 2013

Property, Equipment, and Related Depreciation and Amortization

NOTE 5. Property, Equipment, and Related Depreciation and Amortization

Property and equipment are recorded at cost, and equipment is depreciated on a straight-line basis over its estimated economic useful life. Leasehold improvements are amortized using the shorter of the estimated economic useful life or the term of the lease. Depreciation and amortization expense for the three and nine month periods ended December 31, 2013 was $328 and $998, respectively, and for the three and nine month periods ended December 31, 2012 was $350 and $1,033, respectively.

Average estimated useful lives for property are as follows:

Machinery and equipment	3 to 10 years
Furniture and fixtures	3 to 10 years
Computer hardware and software	3 to 5 years
Leasehold improvements	10 years

The Company classified as real estate held for sale on the condensed consolidated balance sheets a property owned in Glen Head, New York that is subject to a sales agreement. The closing of the sale agreement for the property is subject to the buyer receiving development approvals and the Company completing environmental obligations and reviews. Presently, the Company anticipates that the net sale proceeds will be $3,800. See Note 14 for a discussion of environmental matters related to this site.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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