EQUITY COMPENSATION PLANS AND SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Sep. 30, 2012

EQUITY COMPENSATION PLANS AND SHARE-BASED COMPENSATION [Abstract]

Total share-based compensation expense, net of tax

The following table summarizes total share-based compensation expense, net of tax, related to restricted stock units during the three and six months ended September 30, 2012 and 2011, which is included in our condensed consolidated statements of income (in thousands, except per share data):

	Three Months Ended						Six Months Ended
	September 30,						September 30,
	2012			2011			2012			2011
Cost of revenues	$	222		$	316		$	445		$	511
Research and development		254			203			554			415
Sales and marketing		584			429			1,272			927
General and administrative		649			614			1,240			829
Share-based compensation expense before income taxes		1,709			1,562			3,511			2,682
Income tax benefit		(613	)		(544	)		(1,257	)		(933	)
Total share-based compensation expense after income taxes	$	1,096		$	1,018		$	2,254		$	1,749
Net impact of share-based compensation on:
Basic net income per share	$	0.05		$	0.05		$	0.10		$	0.08
Diluted net income per share	$	0.05		$	0.05		$	0.10		$	0.08

Stock option activity

Stock Option Activity

The following table summarizes information regarding options outstanding and options exercisable at September 30, 2012 and the changes during the six-month period then ended:

				Weighted		Weighted
				Average		Average		Aggregate
				Exercise		Remaining		Intrinsic
	Number of			Price		Contractual		Value
	Shares			Per Share		Life (Years)		(In thousands)
Outstanding at March 31, 2012		282,000		$	15.21
Granted		-			-
Exercised		(36,000	)		7.39
Canceled or forfeited		-			-
Outstanding at September 30, 2012		246,000		$	16.33		1.33	$	4,827
Vested and expected to vest at September 30, 2012		246,000		$	16.33		1.33	$	4,827
Exercisable at September 30, 2012		246,000		$	16.33		1.33	$	4,827

Restricted stock unit activity

Restricted Stock Unit Activity

The following table summarizes restricted stock unit activity for the six months ended September 30, 2012:

	Time-Based Restricted					Performance-Based Restricted
	Stock Units					Stock Units
				Weighted				Weighted
				Average				Average
	Number of			Grant Date		Number of		Grant Date
	Shares			Fair Value(1)		Shares		Fair Value(1)
Nonvested at March 31, 2012		1,120,000		$	24.06		-	$	-
Granted(2)		180,000			35.83		21,000		35.62
Vested(3)		(247,000	)		23.41		-		-
Canceled or forfeited		(18,000	)		25.93		-		-
Nonvested at September 30, 2012		1,035,000		$	26.23		21,000	$	35.62

(1) The weighted average grant date fair value of restricted stock units is based on the number of shares and the closing market price of our common stock on the date of grant.

(2) The shares granted for restricted stock unit awards (performance vesting) do not include the awards approved by the Board of Directors during the period that are deemed not to have granted in accordance with ASC 718-10-55-95.

(3) The number of restricted stock units vested includes shares that we withheld on behalf of our employees to satisfy the statutory tax withholding requirements.