Share-based Compensation (Tables)

9 Months Ended

Dec. 31, 2012

Share-based Compensation [Abstract]

Weighted-average assumptions used to value the options granted

We determined the fair value of our option awards using the Black-Scholes option pricing model.  We used the following weighted-average assumptions to value the options granted during the nine months ended December 31:

	2012			2011
Expected life in years		5.42			5.35
Risk-free interest rate		0.93	%		1.59	%
Expected volatility		91.31	%		90.05	%
Expected dividend yield		0			0
Weighted-average grant date fair value	$	2.60		$	4.76

Stock option activity

The following table summarizes the activity related to our stock options during the nine months ended December 31, 2012:

	Number of shares			Weighted average  exercise price		Weighted average  remaining life in years		Aggregate  intrinsic  value
Outstanding at March 31, 2012		2,083,000		$	3.64
Options granted		88,000			3.60
Options exercised		(40,000	)		3.75
Options surrendered		(195,000	)		4.34
Outstanding at December 31, 2012		1,936,000		$	3.56		2.70	$	1,187,000
Exercisable at December 31, 2012		1,728,000		$	3.38		2.33	$	1,185,000

Restricted shares activity

The following table summarizes the activity related to our restricted shares during the nine months ended December 31, 2012:

	Number of Shares			Weighted average grant dat e fair value		Weighted  average remaining  life in years	Aggregate intrinsic  value
Balance at March 31, 2012		70,000		$	6.30
Shares granted		167,000			3.61
Shares vested		(20,000	)		6.09		$	127,000
Balance at December 31, 2012		217,000		$	4.25	1.19	$	920,000