SUBSEQUENT EVENTS

9 Months Ended

Dec. 31, 2016

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

NOTE 19. SUBSEQUENT EVENTS

In January 2017, we entered into a letter agreement with the privately-held company which we had invested $3.0 million in June 2016. Under the terms of the letter agreement, the privately-held company will, pending negotiation and execution of a definitive agreement, commence chemistry development activities for us using its intellectual product and technology. As consideration for these development efforts, we will pay a total of up to $1.5 million to the investee, in the form of an upfront payment of $0.3 million in January 2017, and any remaining obligation to the investee is contingent upon the achievement of certain development milestones.

In January 2017, our Board of Directors declared a cash dividend of $0.14 per share on our outstanding common stock to be paid on March 15, 2017 to all shareholders of record as of the close of business on March 1, 2017.

On January 25, 2017, the Compensation Committee of our Board of Directors approved an amendment to our FY2017 PSUs so the performance vesting condition refers to the Company’s consolidated income from continuing operations before income tax provision, rather than income from operations. The service vesting condition and all other terms and conditions of our FY2017 PSUs were not changed.