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Supplementary Financial Information
 12 Months Ended
Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplementary Financial Information Supplementary Financial Information
Inventories
The following table presents details regarding our inventories:
March 31,
20222021
(In thousands)
Materials and supplies$5,680 $2,714 
Work in process200 435 
Finished goods2,100 1,917 
$7,980 $5,066 
Property and Equipment, net
The following table presents details of our property and equipment, net:
March 31,
20222021
(In thousands)
Equipment$6,825 $6,806 
Leasehold improvements3,117 3,046 
Accumulated depreciation(8,550)(7,929)
$1,392 $1,923 
Depreciation expense was approximately $0.8 million, $0.7 million and $0.8 million in Fiscal 2022, Fiscal 2021 and Fiscal 2020, respectively. Approximately $0.2 million, $0.2 million, and $0.3 million of the depreciation expense was recorded to cost of revenues, and approximately $0.6 million, $0.5 million, and $0.5 million was recorded to operating expenses in Fiscal 2022, Fiscal 2021 and Fiscal 2020, respectively, in the accompanying consolidated statements of operations.
Intangible Assets
The following table presents details regarding our intangible assets:
March 31, 2022March 31, 2021
Gross
Carrying
Amount		Accumulated
Amortization		Net
Book
Value		Gross
Carrying
Amount		Accumulated
Amortization		Net
Book
Value
(In thousands)
Technology$4,986 $(2,519)$2,467 $4,986 $(1,594)$3,392 
Customer contracts / relationships9,550 (2,959)6,591 9,550 (1,547)8,003 
Trade names and non-compete agreements
782 (753)29 782 (683)99 
Capitalized software development costs
5,900 (3,207)2,693 5,177 (2,374)2,803 
Total$21,218 $(9,438)$11,780 $20,495 $(6,198)$14,297 
Amortization expense for intangible assets subject to amortization was approximately $3.2 million, $2.0 million and $1.3 million for Fiscal 2022, Fiscal 2021 and Fiscal 2020, respectively. Approximately $0.6 million, $0.5 million and $0.5 million of the intangible asset amortization was recorded to cost of revenues, and approximately $2.7 million, $1.5 million and $0.8 million was recorded to amortization expense for Fiscal 2022, Fiscal 2021 and Fiscal 2020, respectively, in the consolidated statements of operations. The weighted average remaining useful lives of the intangible assets as of March 31, 2022 is 4.2 years.
We have one indefinite useful life intangible asset, with de minimis carrying value, which was included in trade names and non-complete agreements. Our net customer contracts/relationships have a useful life of 6 years. Our net trade names and non-compete agreements have a useful life of 3 years. Our net capitalized software development costs of approximately $2.7 million and $2.8 million primarily consisted of our Oracle Enterprise Resource Planning system design and implementation of approximately $1.4 million and $1.7 million as of March 31, 2022 and 2021, respectively, which has a useful life of 10 years.
As of March 31, 2022, the future estimated amortization expense is as follows:
Year Ending March 31,
(In thousands)
20233,198 
20243,021 
20252,538 
20261,298 
20271,095 
Thereafter618 
$11,768 
The future estimated amortization expense does not include the indefinite useful life intangible asset described above.
Goodwill
The following table presents the carrying value of our goodwill for Fiscal 2022, Fiscal 2021 and Fiscal 2020:
Total
Balance—March 31, 2022
Goodwill$36,310 
Acquired goodwill (see Note 12)— 
Accumulated impairment losses(7,970)
$28,340 
Balance—March 31, 2021
Goodwill$28,560 
Acquired goodwill (see Note 12)7,750 
Accumulated impairment losses(7,970)
$28,340 
Balance—March 31, 2020
Goodwill$23,120 
Acquired goodwill (Note 12)5,440 
Accumulated impairment losses(7,970)
$20,590 
Warranty Reserve Activity
The following table presents activity with respect to the warranty reserve:
Year Ended March 31,
202220212020
(In thousands)
Balance at beginning of fiscal year$569 $416 $463 
Additions charged to cost of sales238 508 649 
Warranty claims(191)(355)(696)
Balance at end of fiscal year$616 $569 $416 
Earnings Per Share
The following table sets forth the computation of basic and diluted income (loss) from continuing operations per share:
Year Ended March 31,
202220212020
(In thousands, except per
share amounts)
Numerator:
Net income (loss) from continuing operations$(6,900)$491 $(1,758)
Net income (loss) from discontinued operations, net of tax(180)9,643 (3,852)
Net income (loss)$(7,080)$10,134 $(5,610)
Denominator:
Weighted average common shares used in basic computation42,222 41,176 39,012 
Dilutive stock options— 423 — 
Weighted average common shares used in diluted computation42,222 41,599 39,012 
Basic:
Net income (loss) per share from continuing operations:$(0.16)$0.01 $(0.04)
Net income (loss) per share from discontinued operations:$— $0.23 $(0.10)
Net income (loss) per basic share$(0.16)$0.24 $(0.14)
Diluted:
Net income (loss) per share from continuing operations:$(0.16)$0.01 $(0.04)
Net income (loss) per share from discontinued operations:$— $0.23 $(0.10)
Net income (loss) per diluted share$(0.16)$0.24 $(0.14)
The following instruments were excluded for purposes of calculating weighted average common share equivalents in the computation of diluted income (loss) per share from continuing operations as their effect would have been anti-dilutive for the years ended March 31, 2022, 2021, and 2020:
Year Ended March 31,
202220212020
(In thousands)
Stock options3,857 3,935 6,190 
Restricted stock units386 126 110