Borrowings

12 Months Ended

Mar. 31, 2012

Borrowings [Abstract]

BORROWINGS

NOTE 6 — BORROWINGS:

Short-term Borrowings

At March 31, 2012 and March 31, 2011, there were nil and $2.5 million of short-term borrowings outstanding, respectively, under a credit line maintained with Smith Barney. This facility was backed exclusively by the Company’s auction rate securities, bore interest at the Fed Open Market Rate plus 0.25%, and these borrowings had no net carrying cost. On May 18, 2011, the Company sold its last remaining Auction Rate Security, and paid off the open loan balance on the date of sale, closing this credit facility.

Long-term Borrowings

As of March 31, 2012 and 2011, long-term borrowings consisted of the following:

	2012		2011
	(In thousands)
Capitalized lease obligations and other	$	136	$	196
Less current maturities of capitalized lease obligations		64		46
Long-term borrowings	$	72	$	150

Maturities of long-term borrowings as of March 31, 2012, by fiscal year and in the aggregate are as follows (in thousands):

2013	$	64
2014		42
2015		30
Thereafter		—
Total		136
Less current portion		64
Total long term portion	$	72