Note 3 - Equipment and Leasehold Improvements, Net

12 Months Ended

Mar. 31, 2015

Property, Plant and Equipment Disclosure [Text Block]

Note 3 Equipment and Leasehold Improvements, net

Equipment and leasehold improvements consists of the following as of March 31, 2015 and 2014:

	201 5			201 4
	(in thousands)
Equipment(1)	$	9,782		$	8,840
Leasehold improvements		10,216			9,756
Furniture and fixtures		298			291
		20,296			18,887
Less accumulated depreciation and amortization		(12,549	)		(11,393	)
Construction in-progress		7,007			4,332
	$	14,754		$	11,826

(1)

Includes $86,000 of equipment under capital lease at March 31, 2015, with accumulated amortization of $0.

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, 2015, 2014 and 2013. The Company recognized a loss on disposal of equipment and leasehold improvements in the amount of $96,000, $46,000 and $46,000 in fiscal 2015, 2014 and 2013 respectively. Depreciation and amortization expense was $1,243,000, $1,086,000 and $847,000 for the years ended March 31, 2015, 2014 and 2013, respectively.

The Company has capitalized interest in the amount of $228,000, $199,000 and $54,000 for the fiscal years ended March 31, 2015, 2014 and 2013, respectively.