Note 3 - Equipment and Leasehold Improvements, Net

3 Months Ended

Jun. 30, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

3. EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

Equipment and leasehold improvements are stated at cost. Depreciation and amortization are provided using the straight-line method over the estimated useful lives for equipment and furniture and fixtures, or the shorter of the land lease term or estimated useful lives for leasehold improvements as follows:

Equipment (years)	3 to 10
Furniture and fixtures (years)	3 to 7
Leasehold improvements (years)	10 to 25

Equipment and leasehold improvements consist of the following:

	June 30, 2014			March 31, 2014
	(in thousands)
Equipment	$	8,936		$	8,840
Leasehold improvements		9,833			9,756
Furniture and fixtures		297			291
		19,066			18,887
Less accumulated depreciation and amortization		(11,655	)		(11,393	)
Construction-in-progress		5,006			4,332
Equipment and leasehold improvements, net	$	12,417		$	11,826

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. Recoverability of these assets is measured by a comparison of the carrying amount to forecasted undiscounted future cash flows expected to be generated by the asset. If the carrying amount exceeds its estimated future cash flows, then an impairment charge is recognized to the extent that the carrying amount exceeds the asset’s fair value. Management has determined no asset impairment existed as of June 30, 2014. The Company recognized a loss on disposal of equipment in the amount of $10,000 for the three months ended June 30, 2014. The Company recognized a loss on disposal of equipment in the amount of $5,000 for the three months ended June 30, 2013.

The Company has capitalized $55,000 of interest for the three months ended June 30, 2014. $43,000 was capitalized for the three months ended June 30, 2013.