SUBSEQUENT EVENTS

6 Months Ended

Sep. 30, 2012

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

NOTE 16. SUBSEQUENT EVENTS

On October 26, 2012, the Company entered into an Exclusive Agreement (the "Abbott Agreement") with Abbott Point of Care Inc. ("Abbott"), which will take effect on January 2, 2013.  Pursuant to the Abbott Agreement, the Company granted to Abbott the exclusive right to sell and distribute in the United States and China (including Hong Kong) the Company's Piccolo Xpress chemistry analyzer and associated consumables in the professionally-attended human healthcare market, but excluding sales and distribution to a certain specified customer and specified customer segments in the Abbott territories.  The initial term of the Abbott Agreement ends on December 31, 2017, and after the initial term, the Abbott Agreement renews automatically for successive one-year periods unless terminated by either party based upon a notice of non-renewal six months prior to the then-current expiration date.  Under the Abbott Agreement, Abbott will be responsible for marketing and promoting the Piccolo Xpress products in the specified territory, while the Company will have certain responsibilities for providing technical support and warranty services to Abbott in support of those marketing and sales efforts.