7. FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Mar. 31, 2019

FINANCIAL INSTRUMENTS

Schedule of fair value of financial assets measured on a recurring basis

The fair value of financial assets measured on a recurring basis is as follows (in thousands):

			Fair Value Measurements at Reporting Date Using
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical Assets		Observable		Unobservable
			and Liabilities		Inputs		Inputs
	March 31, 2019		(Level 1)		(Level 2)		(Level 3)
Assets:
Money market funds	$	4,090	$	4,090	$	—	$	—
Marketable securities		28,343		—		28,343		—
Total	$	32,433	$	4,090	$	28,343	$	—
Liabilities:
Contingent consideration	$	4,206	$	—	$	—	$	4,206

			Fair Value Measurements at Reporting Date Using
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical Assets		Observable		Unobservable
			and Liabilities		Inputs		Inputs
	March 31, 2018		(Level 1)		(Level 2)		(Level 3)
Assets:
Money market funds	$	6,788	$	6,788	$	—	$	—
Marketable securities		26,047		—		26,047		—
Total	$	32,835	$	6,788	$	26,047	$	—
Liabilities:
Contingent consideration	$	5,514	$	—	$	—	$	5,514

Schedule of changes in fair value of contingent consideration

	Year Ended March 31,
	2019		2018		2017
	(In thousands)
Contingent consideration, beginning of period	$	5,514	$	6,200	$	5,856
Change due to accretion		147		158		161
Re-measurement of contingent consideration		(326)		(466)		183
Payment of contingent consideration		(1,129)		(378)		—
Contingent consideration, end of period	$	4,206	$	5,514	$	6,200

Schedule of available-for-sale investments

	March 31, 2019
			Gross		Gross
			Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In thousands)
Short-term investments:
Certificates of deposit	$	16,500	$	4		(24)	$	16,480
Supranational obligations		2,867		—		(1)		2,866
Total short-term investments	$	19,367	$	4	$	(25)	$	19,346
Long-term investments:
Certificates of deposit	$	6,000	$	23	$	(4)	$	6,019
Agency bonds		2,968		11		(1)		2,978
Total long-term investments	$	8,968	$	34	$	(5)	$	8,997

	March 31, 2018
			Gross		Gross
			Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In thousands)
Short-term investments:
Certificates of deposit	$	8,750	$	—	$	(28)	$	8,722
Foreign government obligations		5,428		—		(21)		5,407
Agency bonds		3,996		—		(1)		3,995
Total short-term investments	$	18,174	$	—	$	(50)	$	18,124
Long-term investments:
Certificates of deposit	$	8,000	$	—	$	(77)	$	7,923
Total long-term investments	$	8,000	$	—	$	(77)	$	7,923

Schedule of unrealized losses and fair value of investments

	March 31, 2019
	Less Than 12 Months				12 Months or Greater				Total
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
		Value		Loss		Value		Loss		Value		Loss
	(In thousands)
Certificates of deposit	$	2,998	$	(2)	$	7,974	$	(26)	$	10,972	$	(28)
Supranational obligations		2,866		(1)		-		-		2,866		(1)
Agency bonds		1,501		(1)		-		-		1,501		(1)
	$	7,365	$	(4)	$	7,974	$	(26)	$	15,339	$	(30)

	March 31, 2018
	Less Than 12 Months				12 Months or Greater				Total
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
		Value		Loss		Value		Loss		Value		Loss
	(In thousands)
Certificates of deposit	$	10,694	$	(56)	$	5,950	$	(49)	$	16,644	$	(105)
Agency bonds		3,995		(1)		-		-		3,995		(1)
Foreign government obligations		4,357		(20)		1,050		(1)		5,407		(21)
	$	19,046	$	(77)	$	7,000	$	(50)	$	26,046	$	(127)

Schedule of contractual maturities of the available-for-sale investments

			Fair
	Cost		Value
	(In thousands)
Maturing within one year	$	19,367	$	19,346
Maturing in one to three years		8,968		8,997
	$	28,335	$	28,343