FAIR VALUE MEASUREMENTS

12 Months Ended

Mar. 31, 2013

FAIR VALUE MEASUREMENTS [Abstract]

FAIR VALUE MEASUREMENTS

13. FAIR VALUE MEASUREMENTS

We account for the fair values of our assets and liabilities in accordance with Codification Topic Fair Value Measurement and Disclosure. Accordingly, we established a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value.

The following table summarizes the fair value hierarchy of our financial instruments (in thousands):

			Fair Value Measurement Using
	March 31, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Gains (Losses)
Liabilities:
Contingent consideration	$	918	$	-	$	-	$	918	$	-

			Fair Value Measurement Using
	March 31, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Gains (Losses)
Liabilities:
Contingent consideration	$	1,292	$	-	$	-	$	1,292	$	-

For the years ended March 31, 2013 and 2012, the adjustment to the fair value of the contingent consideration was an increase of $99 thousand and reduction of $208 thousand, respectively, which was presented within general and administrative expenses in our consolidated statement of operations. In addition, we paid $473 thousand during the year ended March 31, 2013.