Equipment and Leasehold Improvements

12 Months Ended

Mar. 31, 2012

4. Equipment and Leasehold Improvements

Equipment and leasehold improvements consisted of the following at March 31:

	2012			2011
Machinery and equipment	$	9,128,000		$	8,563,000
Furniture and fixtures		711,000			719,000
Leasehold improvements		1,061,000			1,066,000
Computer hardware		689,000			633,000
Capitalized software		1,024,000			882,000
Total assets		12,613,000			11,863,000
Accumulated depreciation		(9,727,000	)		(8,775,000	)
		2,886,000			3,088,000
Construction-in-process		415,000			642,000
Net equipment and leasehold improvements	$	3,301,000		$	3,730,000

The estimated cost to complete the construction-in-process is approximately $60,000.

Depreciation expense for the fiscal years ended March 31, 2012 and 2011 was approximately $1.0 million and $950,000, 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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