Stock Options and Restricted Shares (Tables)

9 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-based compensation

The following amounts of stock-based compensation were recorded (in thousands):

	Three Months Ended December 31,				Nine Months Ended December 31,
	2014		2015		2014		2015
Cost of product revenue	$	16	$	9	$	40	$	29
General and administrative	300		327		910		902
Sales and marketing	139		74		281		210
Research and development	10		19		19		25
Total	$	465	$	429	$	1,250	$	1,166

Summary of share based payment awards

The following table summarizes information with respect to the Plans:

	Outstanding Awards
	Shares Available for Grant		Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Balance at March 31, 2015	1,078,600		2,426,836		$	3.50	5.38
Granted stock options	—		—
Granted shares	(29,457	)	—		—
Restricted shares	(723,815	)	—		—
Forfeited restricted shares	171,971		—		—
Forfeited stock options	203,600		(203,600	)	4.36
Exercised	—		(44,410	)	2.11
Balance at December 31, 2015	700,899		2,178,826		$	3.45	4.51	$	135,447
Exercisable at December 31, 2015			1,937,426		$	3.58	4.41	$	103,095

Summary of outstanding non-vested stock options

A summary of the status of the Company’s outstanding non-vested stock options as of December 31, 2015 was as follows:

Non-vested at March 31, 2015	581,842
Granted	—
Vested	(280,450	)
Forfeited	(62,200	)
Non-vested at December 31, 2015	239,192

Summary of restricted shares granted

During the first nine months of fiscal 2016, the Company granted restricted shares as follows (which are included in the above stock plan activity tables):

Balance at March 31, 2015	704,688
Shares issued	723,815
Shares vested	(250,993		)
Shares forfeited	(171,971		)
Shares outstanding at December 31, 2015	1,005,539
Per share price on grant date	$1.76 - $6.80
Compensation expense for the nine months ended December 31, 2015	$	850,639