Equipment and Leasehold Improvements, net

12 Months Ended

Mar. 31, 2013

Equipment and Leasehold Improvements, net

Equipment and Leasehold Improvements, net

Note 3 Equipment and Leasehold Improvements, net

Equipment and leasehold improvements consists of the following as of March 31, 2013 and 2012:

	2013			2012
	(in thousands)
Equipment(1)	$	7,455		$	6,695
Leasehold improvements	8,313			7,524
Furniture and fixtures	208			154
	15,976			14,373
Less accumulated depreciation and amortization	(10,496		)	(9,867		)
Construction in-progress	3,355			1,328
	$	8,835		$	5,834

(1) Includes $97,000 of equipment under capital lease at March 31, 2013 and 2012, with accumulated amortization of $58,000 and $39,000, respectively.

The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be recoverable. No such event occurred during the fiscal years ended March 31, 2013, 2012 and 2011. The Company recognized a loss on disposal of equipment and leasehold improvements in the amount of $46,000, $57,000 and $22,000 in fiscal 2013, 2012 and 2011 respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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