Commitments and Contingencies

12 Months Ended

Mar. 31, 2015

Commitments and Contingencies

NOTE 6 — COMMITMENTS AND CONTINGENCIES:

Leases:

The Company leases warehouse and office space from non-affiliated companies, with annual commitments as follows (in thousands):

Fiscal Years	Amount
2016		260
2017		167
2018		108
2019		35
Thereafter		—
Total	$	570

Rent expense resulting from leases with non-affiliated companies aggregated $790,000 and $777,000, respectively, for fiscal 2015 and 2014.

Letters of Credit:

The Company utilizes the services of one of its banks to issue secured letters of credit on behalf of the Company, as needed, on a 100% cash collateralized basis. At March 31, 2015 and March 31, 2014, the Company had no letters of credit outstanding.

Capital Expenditure and Other Commitments:

As of March 31, 2015, there were no capital expenditure or other commitments other than the normal purchase orders used to secure product.

Employee Benefit Plan:

The Company currently sponsors a defined contribution 401(k) retirement plan which is subject to the provisions of the Employee Retirement Income Security Act. The Company matches a percentage of the participants’ contributions up to a specified amount. These contributions to the plan for fiscal 2015 and 2014 were $47,000 and $58,000, respectively, and were charged against earnings for the periods presented.