INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of components of income tax expense (benefit)

The total provision (benefit) for income taxes consists of the following for the fiscal years ended (dollars in thousands):

	Fiscal Year Ended March 31,
	2019			2018			2017
Current	$	(5	)	$	4		$	(261	)
Deferred		19			(19	)		—
Total	$	14		$	(15	)	$	(261	)
	2019			2018			2017
Federal	$	3		$	(28	)	$	(283	)
State		11			13			22
Total	$	14		$	(15	)	$	(261	)

Reconciliation of the statutory federal income tax rate and the effective income tax rate

A reconciliation of the statutory federal income tax rate and effective income tax rate is as follows:

	Fiscal Year Ended March 31,
	2019			2018			2017
Statutory federal tax rate		21.0	%		30.8	%		34.0	%
State taxes, net		5.6	%		2.2	%		3.5	%
Federal tax credit		(0.3	)%		(0.3	)%		—	%
Change in valuation reserve		(23.8	)%		51.4	%		(37.6	)%
Permanent items		(1.1	)%		(1.4	)%		(0.5	)%
Change in tax contingency reserve		—	%		(0.1	)%		1.0	%
Federal refunds		0.3	%		0.3	%		1.4	%
U.S. tax reform, corporate rate reduction		—	%		(75.2	)%		—	%
Equity compensation cancellations		(1.0	)%		(15.7	)%		—	%
Federal loss, ASU 2016-09		—	%		7.7	%		—	%
Other, net		(0.9	)%		0.4	%		0.3	%
Effective income tax rate		(0.2	)%		0.1	%		2.1	%

Schedule of deferred tax assets and liabilities

The net deferred tax assets and liabilities reported in the accompanying consolidated financial statements include the following components (dollars in thousands):

	March 31,
	2019			2018
Inventory, accruals and reserves		1,118			1,316
Interest deduction carry-forward		127			—
Federal and state operating loss carry-forwards		22,909			21,333
Tax credit carry-forwards		1,921			1,939
Equity compensation		288			402
Deferred revenue		(90	)		(81	)
Fixed assets		(781	)		(878	)
Intangible assets		(300	)		(363	)
Other		194			154
Valuation allowance		(25,386	)		(23,803	)
Total net deferred tax assets	$	—		$	19

Unrecognized tax benefit activity

Orion had the following unrecognized tax benefit activity (dollars in thousands):

	Fiscal Year Ended March 31,
	2019		2018		2017
Unrecognized tax benefits as of beginning of fiscal year	$	129	$	113	$	227
Additions based on tax positions related to the current period positions		1		2		2
Additions/(Reductions) for tax positions of prior years		—		14		(116	)
Unrecognized tax benefits as of end of fiscal year	$	130	$	129	$	113