GSI Technology (GSIT) 10-Q 9 Feb 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Dec. 31, 2014	Jan. 31, 2015
Document And Entity Information
Entity Registrant Name	GSI TECHNOLOGY INC
Entity Central Index Key	1126741
Document Type	10-Q
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-28
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		23,386,580
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2015

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
ASSETS.
Cash and cash equivalents	$40,853	$41,520
Short-term investments	24,978	39,412
Accounts receivable, net	5,522	8,238
Inventories	9,059	8,185
Prepaid expenses and other current assets	3,377	5,152
Total current assets	83,789	102,507
Property and equipment, net	8,972	9,683
Long-term investments	18,652	28,819
Other assets	531	668
Total assets	111,944	141,677
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	2,920	4,870
Accrued expenses and other liabilities	4,610	4,444
Deferred revenue	2,261	2,523
Total current liabilities	9,791	11,837
Income taxes payable	772	1,462
Total liabilities	10,563	13,299
Commitments and contingencies (Note 6)
Stockholders' equity:
Preferred stock: $0.001 par value authorized: 5,000,000 shares; issued and outstanding: none
Common Stock: $0.001 par value authorized: 150,000,000 shares; issued and outstanding: 23,657,906 and 27,561,482 shares, respectively	24	28
Additional paid-in capital	31,735	56,399
Accumulated other comprehensive income (loss)	-48	33
Retained earnings	69,670	71,918
Total stockholders' equity	101,381	128,378
Total liabilities and stockholders' equity	$111,944	$141,677

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2014	Mar. 31, 2014
Stockholders' Equity
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	23,657,906	27,561,482
Common stock, shares outstanding	23,657,906	27,561,482

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Income Statement
Net revenues	$14,227	$13,778	$40,435	$45,732
Cost of revenues	7,577	8,410	21,785	25,496
Gross profit	6,650	5,368	18,650	20,236
Operating expenses:
Research and development	2,850	2,780	8,869	8,728
Selling, general and administrative	4,454	4,490	12,945	13,710
Total operating expenses	7,304	7,270	21,814	22,438
Loss from operations	-654	-1,902	-3,164	-2,202
Interest income, net	76	92	249	291
Other income (expense), net	25	-30	35	-33
Loss before income taxes	-553	-1,840	-2,880	-1,944
Benefit for income taxes	-701	-1,106	-632	-1,155
Net income (loss)	$148	($734)	($2,248)	($789)
Net income (loss) per share:
Basic	$0.01	($0.03)	($0.09)	($0.03)
Diluted	$0.01	($0.03)	($0.09)	($0.03)
Weighted average shares used in per share calculations:
Basic	23,738	27,667	25,591	27,495
Diluted	24,325	27,667	25,591	27,495

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statements Of Comprehensive Income (Loss)
Net income (loss)	$148	($734)	($2,248)	($789)
Net unrealized gain (loss) on available-for-sale investments, net of tax	-46	15	-81	-23
Total comprehensive income (loss)	$102	($719)	($2,329)	($812)

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net loss	($2,248)	($789)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Allowance for sales returns, doubtful accounts and other	-11	-15
Provision for excess and obsolete inventories	912	1,642
Depreciation and amortization	1,294	1,486
Stock-based compensation.	1,533	1,644
Deferred income taxes		-115
Windfall tax benefits from stock options exercised	0	-280
Amortization of bond premium on investments	478	640
Changes in assets and liabilities:
Accounts receivable	2,727	1,202
Inventory	-1,786	2,946
Prepaid expenses and other assets	1,782	439
Accounts payable	-1,950	-789
Accrued expenses and other liabilities	-524	-582
Deferred revenue	-262	-686
Net cash provided by operating activities	1,945	6,743
Cash flows from investing activities:
Purchase of investments	-10,712	-29,927
Sales and maturities of short-term investments	34,754	23,912
Purchases of property and equipment	-453	-253
Net cash provided by (used in) investing activities	23,589	-6,268
Cash flows from financing activities:
Repurchase of common stock	-27,120	-2,536
Windfall tax benefits from stock options exercised		280
Proceeds from issuance of common stock under employee stock plans	919	2,701
Net cash provided by (used in) financing activities	-26,201	445
Net increase (decrease) in cash and cash equivalents	-667	920
Cash and cash equivalents at beginning of the year	41,520	41,120
Cash and cash equivalents at end of the period	40,853	42,040
Supplemental cash flow information:
Net cash paid (received) for income taxes	($1,597)	$28

1_THE_COMPANY_AND_SUMMARY_OF_S

1. THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Dec. 31, 2014
Company And Summary Of Significant Accounting Policies Details Narrative
NOTE 1-THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1—THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of presentation
	The accompanying unaudited condensed consolidated financial statements of GSI Technology, Inc. and its subsidiaries (“GSI” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission.  Accordingly, the interim financial statements do not include all of the information and footnotes required by GAAP for annual financial statements.  These interim financial statements contain all adjustments (which consist of only normal, recurring adjustments) that are, in the opinion of management, necessary to state fairly the interim financial information included therein.  The Company believes that the disclosures are adequate to make the information not misleading.  However, these financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2014.
	The consolidated results of operations for the three months and nine months ended December 31, 2014 are not necessarily indicative of the results to be expected for the entire fiscal year.
	Significant accounting policies
	The Company’s significant accounting policies are disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2014.
	Litigation and settlement costs
	From time to time, the Company is involved in legal actions. The Company currently is a party to pending legal proceedings which it is defending aggressively.  See Note 6 for additional information regarding this pending litigation.  There are many uncertainties associated with any litigation, and the Company may not prevail.  The litigation, regardless of its eventual outcome, will be costly and time consuming and, should the outcome be adverse to the Company, could result in the Company being required to pay significant monetary damages.  If that occurs, our business, financial condition and results of operations could be materially and adversely affected. If information becomes available that causes us to determine that a loss in any of our pending litigation, or the settlement of such litigation, is probable, and we can reasonably estimate the loss associated with such events, we will record the loss in accordance with GAAP. However, the actual liability in any such litigation may be materially different from our estimates, which could require us to record additional costs.
	Recent accounting pronouncements
	In August 2014, the Financial Accounting Standards Board (“FASB”) issued new guidance related to the Company’s responsibility to evaluate whether there is substantial doubt about its ability to continue ongoing business operations and to provide relevant footnote disclosures. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. The adoption of this guidance is not expected to have a material impact on the Company’s financial statements.
	In July 2013, the FASB issued an Accounting Standards Update (“ASU”) on Income Taxes, to improve the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This guidance is expected to reduce diversity in practice and is expected to better reflect the manner in which an entity would settle at the reporting date any additional income taxes that would result from the disallowance of a tax position when net operating loss carryforwards, similar tax losses, or tax credit carryforwards exist. Implementation of this guidance in the quarter ended June 30, 2014 did not have a material impact on the Company’s financial position or results of operations.
	In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers." The new accounting standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The accounting standard is effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2016. Early adoption is not permitted. The Company is currently evaluating the impact of this accounting standard on its consolidated financial statements.

2_NET_INCOME_LOSS_PER_COMMON_S

2. NET INCOME (LOSS) PER COMMON SHARE	9 Months Ended
	Dec. 31, 2014
Net income (loss) per share:
NOTE 2 - NET INCOME (LOSS) PER COMMON SHARE	NOTE 2—NET INCOME (LOSS) PER COMMON SHARE
	The Company uses the treasury stock method to calculate the weighted average shares used in computing diluted net income (loss) per share. The following table sets forth the computation of basic and diluted net income (loss) per share:
		Three Months Ended December 31,					Nine Months Ended December 31,
		2014			2013		2014		2013
		(In thousands, except per share amounts)
	Net income (loss)	$	148		$	-734	$	-2,248	$	-789
	Denominators:
	Weighted average shares—Basic		23,738			27,667		25,591		27,495
	Dilutive effect of employee stock options		587			—		—		—
	Weighted average shares—Dilutive		24,325			27,667		25,591		27,495
	Net income (loss) per common share—Basic	$	0.01		$	-0.03	$	-0.09	$	-0.03
	Net income (loss) per common share—Diluted	$	0.01		$	-0.03	$	-0.09	$	-0.03
	The following shares of common stock underlying outstanding stock options, determined on a weighted average basis, were excluded from the computation of diluted net income (loss) per share as they had an anti-dilutive effect:
		Three Months Ended December 31,				Nine Months Ended December 31,
		2014		2013		2014	2013
		(In thousands)
	Shares underlying options	4,245		3,027		3,786	3,026

3_BALANCE_SHEET_DETAIL

3. BALANCE SHEET DETAIL	9 Months Ended
	Dec. 31, 2014
Balance Sheet Detail
NOTE 3 - BALANCE SHEET DETAIL	NOTE 3—BALANCE SHEET DETAIL
		31-Dec-14		31-Mar-14
		(In thousands)
	Inventories:
	Work-in-progress	$	2,821	$	2,011
	Finished goods		5,704		5,588
	Inventory at distributors		534		586
		$	9,059	$	8,185
		31-Dec-14		31-Mar-14
		(In thousands)
	Accounts receivable, net:
	Accounts receivable	$	5,622	$	8,349
	Less: Allowances for sales returns, doubtful accounts and other		-100		-111
		$	5,522	$	8,238
		31-Dec-14		31-Mar-14
		(In thousands)
	Prepaid expenses and other current assets:
	Prepaid tooling and masks	$	1,186	$	833
	Prepaid income taxes		974		2,598
	Other receivables		414		596
	Other prepaid expenses		803		1,125
		$	3,377	$	5,152
		31-Dec-14		31-Mar-14
		(In thousands)
	Property and equipment, net:
	Computer and other equipment	$	17,230	$	16,990
	Software		4,792		4,780
	Land		3,900		3,900
	Building and building improvements		2,256		2,256
	Furniture and fixtures		110		110
	Leasehold improvements		791		791
			29,079		28,827
	Less: Accumulated depreciation and amortization		-20,107		-19,144
		$	8,972	$	9,683
	Depreciation and amortization expense was $322,000 and $443,000, respectively, for the three months ended December 31, 2014 and 2013 and $1,164,000 and $1,351,000, respectively, for the nine months ended December 31, 2014 and 2013.
		31-Dec-14		31-Mar-14
		(In thousands)
	Other assets:
	Non-current deferred income taxes	$	20	$	24
	Intangibles, net		434		564
	Deposits		77		80
		$	531	$	668
	The following table summarizes the components of intangible assets and related accumulated amortization balances at December 31, 2014 (in thousands):
		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	Intangible assets:
	Product designs	$	590	$	450	$	140
	Patents		720		426		294
	Software		80		80		—
	Total	$	1,390	$	956	$	434
	Amortization of intangible assets included in cost of revenues was $41,000 and $45,000, respectively, for the three months ended December 31, 2014 and 2013 and $130,000 and $135,000, respectively, for the nine months ended December 31, 2014 and 2013.
		31-Dec-14		31-Mar-14
		(In thousands)
	Accrued expenses and other liabilities:
	Accrued compensation	$	2,720	$	2,330
	Accrued professional fees		756		824
	Accrued commissions		314		307
	Other accrued expenses		820		983
		$	4,610	$	4,444

4_INCOME_TAXES

4. INCOME TAXES	9 Months Ended
	Dec. 31, 2014
Income Taxes
NOTE 4-INCOME TAXES	NOTE 4—INCOME TAXES
	The current portion of the Company’s unrecognized tax benefits was $0 at both December 31, 2014 and March 31, 2014. The long-term portion at December 31, 2014 and March 31, 2014 was $772,000 and $1,462,000, respectively, of which the timing of the resolution is uncertain.  As of December 31, 2014, $1,229,000 of unrecognized tax benefits had been recorded as a reduction to net deferred tax assets.  As of December 31, 2014 and March 31, 2014, the Company’s net deferred tax assets of $4.9 million and $3.7 million, respectively, were subject to a full valuation allowance.
	During the three months ended December 31, 2014, the Company recorded a tax benefit of $696,000 due to the reduction of uncertain tax benefits as a result of the lapse of applicable statutes of limitations.
	Management believes that it is reasonably possible that within the next twelve months the Company could have a reduction in uncertain tax benefits of up to $729,000, including interest and penalties, related to positions taken with respect to credits and loss carryforwards on previously filed tax returns.
	The Company’s policy is to include interest and penalties related to unrecognized tax benefits within the provision for income taxes in the Condensed Consolidated Statements of Operations.
	The Company is subject to taxation in the United States and various state and foreign jurisdictions.  Fiscal years 2012 through 2014 remain open to examination by federal tax authorities, and fiscal years 2011 through 2014 remain open to examination by California tax authorities.
	The Company’s estimated annual effective income tax rate was approximately 5.1% and 34.5% as of December 31, 2014 and 2013, respectively. The annual effective tax rate as of December 31, 2014 varies from the United States statutory income tax rate primarily due to valuation allowances in the United States whereby pre-tax losses do not result in the recognition of corresponding income tax benefits and expenses. The difference between the effective income tax rate and the applicable United States statutory income tax rate as of December 31, 2013 was primarily due to the effects of tax credits, foreign tax rate differentials and tax free interest income, offset by stock-based compensation expense.

5_FINANCIAL_INSTRUMENTS

5. FINANCIAL INSTRUMENTS	9 Months Ended
	Dec. 31, 2014
Financial Instruments.
NOTE 5-FINANCIAL INSTRUMENTS	NOTE 5—FINANCIAL INSTRUMENTS
	Fair value measurements
	The authoritative accounting guidance for fair value measurements provides a framework for measuring fair value and related disclosures.  The guidance applies to all financial assets and financial liabilities that are measured on a recurring basis.  The guidance requires fair value measurement to be classified and disclosed in one of the following three categories:
	Level 1: Valuations based on quoted prices in active markets for identical assets and liabilities.  The fair value of available-for-sale securities included in the Level 1 category is based on quoted prices that are readily and regularly available in an active market.  As of December 31, 2014, the Level 1 category included money market funds of $3.9 million, which were included in cash and cash equivalents in the Condensed Consolidated Balance Sheet.
	Level 2: Valuations based on observable inputs (other than Level 1 prices), such as quoted prices for similar assets at the measurement date; quoted prices in markets that are not active; or other inputs that are observable, either directly or indirectly. The fair value of available-for-sale securities included in the Level 2 category is based on the market values obtained from an independent pricing service that were evaluated using pricing models that vary by asset class and may incorporate available trade, bid and other market information and price quotes from well established independent pricing vendors and broker-dealers. As of December 31, 2014, the Level 2 category included short-term investments of $25.0 million and long-term investments of $18.7 million, which were comprised of certificates of deposit, corporate debt securities and government and agency securities.
	Level 3: Valuations based on inputs that are unobservable and involve management judgment and the reporting entity’s own assumptions about market participants and pricing.  As of December 31, 2014, the Company had no Level 3 financial assets measured at fair value in the Condensed Consolidated Balance Sheet.
	As of December 31, 2014, there were no liabilities measured at fair value on a recurring basis.
	The fair value of financial assets measured on a recurring basis is as follows (in thousands):
				Fair Value Measurements at Reporting Date Using
				Quoted Prices in Active Markets for Identical Assets and Liabilities		Significant Other Observable Inputs		Significant Unobservable Inputs
		31-Dec-14		(Level 1)		(Level 2)		(Level 3)
	Assets:
	Money market funds	$	3,874	$	3,874	$	—	$	—
	Marketable securities		43,630		—		43,630		—
	Total	$	47,504	$	3,874	$	43,630	$	—
				Fair Value Measurements at Reporting Date Using
				Quoted Prices in Active Markets for Identical Assets and Liabilities		Significant Other Observable Inputs		Significant Unobservable Inputs
		31-Mar-14		(Level 1)		(Level 2)		(Level 3)
	Assets:
	Money market funds	$	3,852	$	3,852	$	—	$	—
	Marketable securities		68,231		—		68,231		—
	Total	$	72,083	$	3,852	$	68,231	$	—
	Short-term and long-term investments
	All of the Company’s short-term and long-term investments are classified as available-for-sale.  Available-for-sale debt securities with maturities greater than twelve months are classified as long-term investments when they are not intended for use in current operations.  Investments in available-for-sale securities are reported at fair value with unrecognized gains (losses), net of tax, as a component of accumulated other comprehensive income in the Condensed Consolidated Balance Sheets.  The Company had money market funds of $3.9 million and $3.9 million at December 31, 2014 and March 31, 2014, respectively, included in cash and cash equivalents in the Condensed Consolidated Balance Sheet.  The Company monitors its investments for impairment periodically and records appropriate reductions in carrying values when declines are determined to be other-than-temporary.
	The following table summarizes the Company’s available-for-sale investments:
		31-Dec-14
				Gross		Gross
				Unrealized		Unrealized		Fair
		Cost		Gains		Losses		Value
		(In thousands)
	Short-term investments:
	State and municipal obligations	$	7,589		—	$	—	$	7,589
	Corporate notes		9,375		8		—		9,383
	Certificates of deposit		8,000		6		—		8,006
	Total short-term investments	$	24,964	$	14	$	—	$	24,978
	Long-term investments:
	State and municipal obligations	$	1,064	$	3	$	—	$	1,067
	Corporate notes		2,451		—		-14		2,437
	Certificates of deposit		9,500		—		-27		9,473
	Agency bonds		4,009		—		-8		4,001
	International government obligations		1,679		—		-5		1,674
	Total long-term investments	$	18,703	$	3	$	-54	$	18,652
		31-Mar-14
				Gross		Gross
				Unrealized		Unrealized		Fair
		Cost		Gains		Losses		Value
		(In thousands)
	Short-term investments:
	State and municipal obligations	$	8,336	$	4	$	—	$	8,340
	Corporate notes		5,023		12		—		5,035
	Agency bonds		3,523		2		—		3,525
	Certificates of deposit		14,997		6		—		15,003
	International government obligations		7,507		2		—		7,509
	Total short-term investments	$	39,386	$	26	$	—	$	39,412
	Long-term investments:
	State and municipal obligations	$	8,227	$	10	$	—	$	8,237
	Corporate notes		6,392		16				6,408
	Certificates of deposit		10,500		—		-2		10,498
	Agency bonds		2,011		—		-5		2,006
	International government obligations		1,670		—		—		1,670
	Total long-term investments	$	28,800	$	26	$	-7	$	28,819
	The Company’s investment portfolio consists of both corporate and governmental securities that have a maximum maturity of three years. All unrealized gains are due to changes in interest rates and bond yields.  Subject to normal credit risks, the Company has the ability to realize the full value of all these investments upon maturity.
	The deferred tax asset related to unrecognized gains and losses on short-term and long-term investments was $14,000 at December 31, 2014 and the deferred tax liability related to unrecognized gains and losses on short-term and long-term investments was $11,000 at March 31, 2014.
	As of December 31, 2014, contractual maturities of the Company’s available-for-sale non-equity investments were as follows:
							Fair
					Cost		Value
					(In thousands)
Maturing within one year					$	24,964	$	24,978
Maturing in one to three years						18,703		18,652
Maturing in more than three years						—		—
					$	43,667	$	43,630
The Company classifies its short-term investments as “available-for-sale” as they are intended to be available for use in current operations.

6_COMMITMENTS_AND_CONTINGENCIE

6. COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Dec. 31, 2014
Commitments and Contingencies Disclosure
NOTE 6-COMMITMENTS AND CONTINGENCIES	NOTE 6—COMMITMENTS AND CONTINGENCIES
	Indemnification obligations
	The Company is a party to a variety of agreements pursuant to which it may be obligated to indemnify the other party with respect to certain matters. Typically, these obligations arise in the context of contracts entered into by the Company, under which the Company agrees to hold the other party harmless against losses arising from a breach of representations and covenants related to such matters as title to assets sold and certain intellectual property rights. In each of these circumstances, the Company’s indemnification obligations are conditioned on the other party making a claim pursuant to the procedures specified in the particular contract, which procedures typically allow the Company to challenge the other party’s claims. Further, the Company’s obligations under these agreements may be limited in terms of time and/or amount, and in some instances, the Company may have recourse against third parties for certain payments made by it under these agreements.
	It is not possible to predict the maximum potential amount of future payments that may be required under these or similar agreements due to the conditional nature of the Company’s obligations and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements have not had a material effect on its business, financial condition, cash flows or results of operations.
	Product warranties
	The Company warrants its products to be free of defects generally for a period of three years. The Company estimates its warranty costs based on historical warranty claim experience and includes such costs in cost of revenues. Warranty costs were not significant for the three months or nine months ended December 31, 2014 or 2013.
	Legal proceedings
	In March 2011, Cypress Semiconductor Corporation, a semiconductor manufacturer, filed a lawsuit against the Company in the United States District Court for the District of Minnesota alleging that the Company’s products, including its SigmaDDR and SigmaQuad families of Very Fast SRAMs, infringe five patents held by Cypress.  The complaint sought unspecified damages for past infringement and a permanent injunction against future infringement.
	On June 10, 2011, Cypress filed a complaint against the Company with the United States International Trade Commission (the “ITC”).  The ITC complaint, as subsequently amended, alleged infringement by the Company of three of the five patents involved in the District Court case and one additional patent and also alleged infringement by three of our distributors and 11 of our customers who allegedly incorporate the Company’s SRAMs in their products.  The ITC complaint sought a limited exclusion order excluding the allegedly infringing SRAMs, and products containing them, from entry into the United States and permanent orders directing the Company and the other respondents to cease and desist from selling or distributing such products in the United States.  On July 21, 2011, the ITC formally instituted an investigation in response to Cypress’s complaint.   On June 7, 2013, the ITC announced that the full Commission had affirmed the determination of Chief Administrative Judge Charles E. Bullock that GSI’s SRAM devices, and products containing them, do not infringe the Cypress patents and that Cypress had failed to establish existence of a domestic industry that practices the patents.  Moreover, the Commission reversed a portion of Judge Bullock’s determination with respect to the validity of the patents, finding the asserted claims of one of the patents to have been anticipated by prior art and, therefore, invalid.  The Commission ordered the investigation terminated, and Cypress did not appeal the ruling.
	The Minnesota District Court case had been stayed pending the conclusion of the ITC proceeding. Following the termination of the ITC investigation, the stay was lifted.  On May 1, 2013, Cypress filed an additional lawsuit in the United States District Court for the Northern District of California alleging infringement by our products of five additional Cypress patents.  Like the Minnesota case, the complaint in the California lawsuit seeks unspecified damages for past infringement and a permanent injunction against future infringement.  The Company filed answers in both cases denying liability and asserting affirmative defenses.  On August 7, 2013, the parties stipulated that the claims in the Minnesota case with respect to three of the asserted patents would be dismissed without prejudice and that the claims with respect to the remaining two patents would be transferred to, and consolidated with, the California case.  On August 20, 2013, the Court in the California case ordered the cases consolidated.  Discovery in the case is proceeding.
	The Company believes that it has strong defenses against Cypress’ patent infringement claims and intends to continue to defend itself vigorously. However, the litigation process is inherently uncertain, and the Company may not prevail.  Patent litigation is particularly complex and can extend for a protracted period of time, which can substantially increase the cost of such litigation.  The Company has not recorded any loss contingency during fiscal 2012, fiscal 2013, fiscal 2014 or fiscal 2015 in connection with these legal proceedings as the Company cannot predict their outcome and cannot estimate the likelihood or potential dollar amount of any adverse results.  However, an unfavorable outcome in these proceedings could have a material adverse impact on the Company’s financial position, results of operations or cash flows for the period in which the outcome occurs and in future periods.

7_STOCK_BASED_COMPENSATION

7. STOCK- BASED COMPENSATION	9 Months Ended
	Dec. 31, 2014
Stock-Based Compensation
NOTE 7-STOCK- BASED COMPENSATION	NOTE 7—STOCK-BASED COMPENSATION
	As of December 31, 2014, 6,321,103 shares of common stock were available for grant under the Company’s 2007 Equity Incentive Plan.
	The following table summarizes the Company’s stock option activities for the nine months ended December 31, 2014:
							Weighted
					Number of Shares		Average		Weighted
			Shares		Underlying		Remaining		Average
			Available for		Options		Contractual		Exercise			Intrinsic
			Grant		Outstanding		Life (Years)		Price			Value
	Balance at March 31, 2014		5,585,500		6,143,980					5.13
	Options reserved		1,377,699		—					—
	Granted		-684,743		684,743					5.19
	Exercised		—		-106,085					4.04		$	225,037
	Forfeited		42,647		-42,647					5.49
	Balance at December 31, 2014		6,321,103		6,679,991				$	5.15
	Options vested and exercisable				4,295,154		4.27		$	4.90		$	2,784,361
	Options vested and expected to vest				6,614,366		5.66		$	5.15		$	3,055,795
	The weighted average fair value per underlying share of options granted during the three months ended December 31, 2014 and 2013 was $1.79 and $2.78, respectively, and for the nine months ended December 31, 2014 and 2013 was $2.10 and $2.73, respectively.
	Options outstanding by exercise price at December 31, 2014 were as follows:
						Number of		Options Outstanding					Options Exercisable
						Shares		Weighted			Weighted Average				Weighted
						Underlying		Average			Remaining		Number		Average
						Options		Exercise			Contractual		Vested and		Exercise
	Exercise Price					Outstanding		Price			Life (Years)		Exercisable		Price
	$	2.43	-	3.43		917,064		$	3.16		4.10		917,064		$	3.16
	$	3.75	-	4		812,779		$	3.96		4.21		812,779		$	3.96
	$	4.17	-	4.68		716,855		$	4.32		5.69		358,427		$	4.31
	$	4.81	-	5.23		990,276		$	5.05		8.38		206,844		$	4.88
	$	5.5				783,433		$	5.50		1.88		783,433		$	5.50
	$	5.59	-	5.76		675,410		$	5.70		6.77		259,146		$	5.69
	$	6	-	6.54		798,358		$	6.32		6.41		402,571		$	6.20
	$	6.61	-	6.86		666,003		$	6.77		8.14		235,077		$	6.77
	$	7				206,193		$	7.00		5.59		206,193		$	7.00
	$	9.2				113,620		$	9.20		6.08		113,620		$	9.20
						6,679,991		$	5.15		5.69		4,295,154			4.90
	The following table summarizes stock-based compensation expense by line item in the Condensed Consolidated Statements of Operations, all relating to employee stock plans:
			Three Months Ended December 31,						Nine Months Ended December 31,
			2014			2013			2014			2013
			(In thousands)
	Cost of revenues		$	93		$	86		$	296		$	282
	Research and development			220			235			709			726
	Selling, general and administrative			77			195			528			636
	Total		$	390		$	516		$	1,533		$	1,644
	As stock-based compensation expense recognized in the Condensed Consolidated Statement of Operations is based on awards ultimately expected to vest, it has been reduced for estimated forfeitures in accordance with authoritative guidance.  The Company estimates forfeitures at the time of grant and revises the original estimates, if necessary, in subsequent periods if actual forfeitures differ from those estimates.
	The Company recognized related income tax benefits of $0 and $35,000, respectively, for the three months ended December 31, 2014 and 2013, and $0 and $81,000, respectively, for the nine months ended December 31, 2014, and 2013.  Windfall tax benefits realized from exercised stock options were $0, and $280,000, respectively, for the three months ended December 31, 2014 and 2013 and $0 and $280,000, respectively for the nine months ended December 31, 2014 and 2013.  Compensation cost capitalized within inventory at December 31, 2014 was insignificant. As of December 31, 2014, the Company’s total unrecognized compensation cost was $3.6 million, which will be recognized over a weighted average period of 1.96 years.   The Company calculated the fair value of stock-based awards in the periods presented using the Black-Scholes option pricing model and the following weighted average assumptions:
			Three Months Ended December 31,										Nine Months Ended December 31,
			2014					2013					2014				2013
			(In thousands)										(In thousands)
	Stock Option Plans:
	Risk-free interest rate				1.60	%				1.43	%		1.60	-	1.70	%	0.91	-	1.51	%
	Expected life (in years)				5.00					5.00					5.00				5.00
	Volatility				41.3	%				46.6	%		41.3	-	44.8	%	46.6	-	48.4	%
	Dividend yield				—	%				—	%				—	%			—	%
	Employee Stock Purchase Plan:
	Risk-free interest rate				0.05	%				0.07	%				0.05	%	0.07	-	0.09	%
	Expected life (in years)				0.50					0.50					0.50				0.50
	Volatility				38.0	%				32.8	%		30.8	-	38.0	%	30.4	-	32.8	%
	Dividend yield				—	%				—	%				—	%			—	%

8_SEGMENT_AND_GEOGRAPHIC_INFOR

8. SEGMENT AND GEOGRAPHIC INFORMATION	9 Months Ended
	Dec. 31, 2014
Segment And Geographic Information
NOTE 8-SEGMENT AND GEOGRAPHIC INFORMATION	NOTE 8—SEGMENT AND GEOGRAPHIC INFORMATION
	Based on its operating management and financial reporting structure, the Company has determined that it has one reportable business segment: the design, development and sale of integrated circuits.
	The following is a summary of net revenues by geographic area based on the location to which product is shipped:
		Three Months Ended December 31,				Nine Months Ended December 31,
		2014		2013		2014		2013
		(In thousands)
	United States	$	5,077	$	4,123	$	13,471	$	14,507
	China		4,459		3,465		11,697		9,736
	Malaysia		20		2,310		2,720		7,865
	Singapore		1,455		1,803		4,955		4,868
	Netherlands		1,505		768		2,977		4,180
	Rest of the world		1,711		1,309		4,615		4,576
		$	14,227	$	13,778	$	40,435	$	45,732
	All sales are denominated in United States dollars.

9_MODIFIED_DUTCH_AUCTION_TENDE

9. MODIFIED DUTCH AUCTION TENDER OFFER	9 Months Ended
	Dec. 31, 2014
Modified Dutch Auction Tender Offer
NOTE 9-MODIFIED DUTCH AUCTION TENDER OFFER	NOTE 9—MODIFIED DUTCH AUCTION SELF-TENDER OFFER
	On July 9, 2014 the Company announced that it had commenced a modified “Dutch auction” self-tender offer to repurchase for cash shares of its common stock for an aggregate purchase price of up to $25 million.  Under the terms of the tender offer, the Company’s stockholders had the opportunity to tender some or all of their shares at a price within the range of $6.50 to $6.70 per share.
	The tender offer expired on August 6, 2014.  The Company accepted for purchase an aggregate of 3,846,153 shares of its common stock at a final purchase price of $6.50 per share, for an aggregate cost of approximately $25 million, excluding fees and expenses related to the tender offer.  A total of 10,466,830 shares were properly tendered and not properly withdrawn at a price of $6.50 per share. Since the offer was oversubscribed, the number of shares that the Company accepted for purchase from tendering stockholders was prorated, based upon the proration procedures described in the offer to purchase (other than shares tendered by “odd lot” holders, which were not subject to proration and were accepted in full).
	The aggregate number of shares purchased by the Company in the tender offer represented approximately 14.0 percent of its issued and outstanding shares of common stock as of August 8, 2014.  Following settlement of the tender offer, the Company had approximately 23.7 million shares of its common stock outstanding.

1_THE_COMPANY_AND_SUMMARY_OF_S1

1. THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Dec. 31, 2014
Company And Summary Of Significant Accounting Policies Details Narrative
Basis of consolidation	Basis of presentation
	The accompanying unaudited condensed consolidated financial statements of GSI Technology, Inc. and its subsidiaries (“GSI” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission.  Accordingly, the interim financial statements do not include all of the information and footnotes required by GAAP for annual financial statements.  These interim financial statements contain all adjustments (which consist of only normal, recurring adjustments) that are, in the opinion of management, necessary to state fairly the interim financial information included therein.  The Company believes that the disclosures are adequate to make the information not misleading.  However, these financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2014.
	The consolidated results of operations for the three months and nine months ended December 31, 2014 are not necessarily indicative of the results to be expected for the entire fiscal year.
Significant accounting policies	Significant accounting policies
	The Company’s significant accounting policies are disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2014.
Litigation and settlement costs	Litigation and settlement costs
	From time to time, the Company is involved in legal actions. The Company currently is a party to pending legal proceedings which it is defending aggressively.  See Note 6 for additional information regarding this pending litigation.  There are many uncertainties associated with any litigation, and the Company may not prevail.  The litigation, regardless of its eventual outcome, will be costly and time consuming and, should the outcome be adverse to the Company, could result in the Company being required to pay significant monetary damages.  If that occurs, our business, financial condition and results of operations could be materially and adversely affected. If information becomes available that causes us to determine that a loss in any of our pending litigation, or the settlement of such litigation, is probable, and we can reasonably estimate the loss associated with such events, we will record the loss in accordance with GAAP. However, the actual liability in any such litigation may be materially different from our estimates, which could require us to record additional costs.
Recent accounting pronouncements	Recent accounting pronouncements
	In August 2014, the Financial Accounting Standards Board (“FASB”) issued new guidance related to the Company’s responsibility to evaluate whether there is substantial doubt about its ability to continue ongoing business operations and to provide relevant footnote disclosures. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. The adoption of this guidance is not expected to have a material impact on the Company’s financial statements.
	In July 2013, the FASB issued an Accounting Standards Update (“ASU”) on Income Taxes, to improve the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This guidance is expected to reduce diversity in practice and is expected to better reflect the manner in which an entity would settle at the reporting date any additional income taxes that would result from the disallowance of a tax position when net operating loss carryforwards, similar tax losses, or tax credit carryforwards exist. Implementation of this guidance in the quarter ended June 30, 2014 did not have a material impact on the Company’s financial position or results of operations.
	In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers." The new accounting standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The accounting standard is effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2016. Early adoption is not permitted. The Company is currently evaluating the impact of this accounting standard on its consolidated financial statements.

2_NET_INCOME_LOSS_PER_COMMON_S1

2. NET INCOME (LOSS) PER COMMON SHARE (Tables)	9 Months Ended
	Dec. 31, 2014
Net income (loss) per share:
Basic and diluted net income (loss) per share
		Three Months Ended December 31,					Nine Months Ended December 31,
		2014			2013		2014		2013
		(In thousands, except per share amounts)
	Net income (loss)	$	148		$	-734	$	-2,248	$	-789
	Denominators:
	Weighted average shares—Basic		23,738			27,667		25,591		27,495
	Dilutive effect of employee stock options		587			—		—		—
	Weighted average shares—Dilutive		24,325			27,667		25,591		27,495
	Net income (loss) per common share—Basic	$	0.01		$	-0.03	$	-0.09	$	-0.03
	Net income (loss) per common share—Diluted	$	0.01		$	-0.03	$	-0.09	$	-0.03
Anti-dilutive shares
		Three Months Ended December 31,				Nine Months Ended December 31,
		2014		2013		2014	2013
		(In thousands)
	Shares underlying options	4,245		3,027		3,786	3,026

3_BALANCE_SHEET_DETAIL_Tables

3. BALANCE SHEET DETAIL (Tables)	9 Months Ended
	Dec. 31, 2014
Balance Sheet Detail
Schedule of Inventories
		31-Dec-14		31-Mar-14
		(In thousands)
	Inventories:
	Work-in-progress	$	2,821	$	2,011
	Finished goods		5,704		5,588
	Inventory at distributors		534		586
		$	9,059	$	8,185
Schedule of Accounts Receivable, Net
		31-Dec-14		31-Mar-14
		(In thousands)
	Accounts receivable, net:
	Accounts receivable	$	5,622	$	8,349
	Less: Allowances for sales returns, doubtful accounts and other		-100		-111
		$	5,522	$	8,238
Schedule of Prepaid Expenses and Other Current Assets
		31-Dec-14		31-Mar-14
		(In thousands)
	Prepaid expenses and other current assets:
	Prepaid tooling and masks	$	1,186	$	833
	Prepaid income taxes		974		2,598
	Other receivables		414		596
	Other prepaid expenses		803		1,125
		$	3,377	$	5,152
Schedule of Property and Equipment, Net
		31-Dec-14		31-Mar-14
		(In thousands)
	Property and equipment, net:
	Computer and other equipment	$	17,230	$	16,990
	Software		4,792		4,780
	Land		3,900		3,900
	Building and building improvements		2,256		2,256
	Furniture and fixtures		110		110
	Leasehold improvements		791		791
			29,079		28,827
	Less: Accumulated depreciation and amortization		-20,107		-19,144
		$	8,972	$	9,683
Schedule of Other Assets
		31-Dec-14		31-Mar-14
		(In thousands)
	Other assets:
	Non-current deferred income taxes	$	20	$	24
	Intangibles, net		434		564
	Deposits		77		80
		$	531	$	668
Schedule of Intangible Assets	The following table summarizes the components of intangible assets and related accumulated amortization balances at December 31, 2014 (in thousands):
		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	Intangible assets:
	Product designs	$	590	$	450	$	140
	Patents		720		426		294
	Software		80		80		—
	Total	$	1,390	$	956	$	434
Schedule of Accrued Expenses and Other Liabilities
		31-Dec-14		31-Mar-14
		(In thousands)
	Accrued expenses and other liabilities:
	Accrued compensation	$	2,720	$	2,330
	Accrued professional fees		756		824
	Accrued commissions		314		307
	Other accrued expenses		820		983
		$	4,610	$	4,444

5_FINANCIAL_INSTRUMENTS_Tables

5. FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Dec. 31, 2014
Financial Instruments.
Schedule of Fair value of financial assets measured on a recurring basis	The fair value of financial assets measured on a recurring basis is as follows (in thousands):
				Fair Value Measurements at Reporting Date Using
				Quoted Prices in Active Markets for Identical Assets and Liabilities		Significant Other Observable Inputs		Significant Unobservable Inputs
		31-Dec-14		(Level 1)		(Level 2)		(Level 3)
	Assets:
	Money market funds	$	3,874	$	3,874	$	—	$	—
	Marketable securities		43,630		—		43,630		—
	Total	$	47,504	$	3,874	$	43,630	$	—
				Fair Value Measurements at Reporting Date Using
				Quoted Prices in Active Markets for Identical Assets and Liabilities		Significant Other Observable Inputs		Significant Unobservable Inputs
		31-Mar-14		(Level 1)		(Level 2)		(Level 3)
	Assets:
	Money market funds	$	3,852	$	3,852	$	—	$	—
	Marketable securities		68,231		—		68,231		—
	Total	$	72,083	$	3,852	$	68,231	$	—
Schedule of Available-for-sale investments
		31-Dec-14
				Gross		Gross
				Unrealized		Unrealized		Fair
		Cost		Gains		Losses		Value
		(In thousands)
	Short-term investments:
	State and municipal obligations	$	7,589		—	$	—	$	7,589
	Corporate notes		9,375		8		—		9,383
	Certificates of deposit		8,000		6		—		8,006
	Total short-term investments	$	24,964	$	14	$	—	$	24,978
	Long-term investments:
	State and municipal obligations	$	1,064	$	3	$	—	$	1,067
	Corporate notes		2,451		—		-14		2,437
	Certificates of deposit		9,500		—		-27		9,473
	Agency bonds		4,009		—		-8		4,001
	International government obligations		1,679		—		-5		1,674
	Total long-term investments	$	18,703	$	3	$	-54	$	18,652
		31-Mar-14
				Gross		Gross
				Unrealized		Unrealized		Fair
		Cost		Gains		Losses		Value
		(In thousands)
	Short-term investments:
	State and municipal obligations	$	8,336	$	4	$	—	$	8,340
	Corporate notes		5,023		12		—		5,035
	Agency bonds		3,523		2		—		3,525
	Certificates of deposit		14,997		6		—		15,003
	International government obligations		7,507		2		—		7,509
	Total short-term investments	$	39,386	$	26	$	—	$	39,412
	Long-term investments:
	State and municipal obligations	$	8,227	$	10	$	—	$	8,237
	Corporate notes		6,392		16				6,408
	Certificates of deposit		10,500		—		-2		10,498
	Agency bonds		2,011		—		-5		2,006
	International government obligations		1,670		—		—		1,670
	Total long-term investments	$	28,800	$	26	$	-7	$	28,819
Schedule of Contractual maturities of the available-for-sale non-equity investments
								Fair
						Cost		Value
						(In thousands)
	Maturing within one year					$	24,964	$	24,978
	Maturing in one to three years						18,703		18,652
	Maturing in more than three years						—		—
						$	43,667	$	43,630

7_STOCK_BASED_COMPENSATION_Tab

7. STOCK- BASED COMPENSATION (Tables)	9 Months Ended
	Dec. 31, 2014
Stock-Based Compensation
Summary of stock option activities
							Weighted
					Number of Shares		Average		Weighted
			Shares		Underlying		Remaining		Average
			Available for		Options		Contractual		Exercise			Intrinsic
			Grant		Outstanding		Life (Years)		Price			Value
	Balance at March 31, 2014		5,585,500		6,143,980					5.13
	Options reserved		1,377,699		—					—
	Granted		-684,743		684,743					5.19
	Exercised		—		-106,085					4.04		$	225,037
	Forfeited		42,647		-42,647					5.49
	Balance at December 31, 2014		6,321,103		6,679,991				$	5.15
	Options vested and exercisable				4,295,154		4.27		$	4.90		$	2,784,361
	Options vested and expected to vest				6,614,366		5.66		$	5.15		$	3,055,795
Schedule of options outstanding by exercise price
						Number of		Options Outstanding					Options Exercisable
						Shares		Weighted			Weighted Average				Weighted
						Underlying		Average			Remaining		Number		Average
						Options		Exercise			Contractual		Vested and		Exercise
	Exercise Price					Outstanding		Price			Life (Years)		Exercisable		Price
	$	2.43	-	3.43		917,064		$	3.16		4.10		917,064		$	3.16
	$	3.75	-	4		812,779		$	3.96		4.21		812,779		$	3.96
	$	4.17	-	4.68		716,855		$	4.32		5.69		358,427		$	4.31
	$	4.81	-	5.23		990,276		$	5.05		8.38		206,844		$	4.88
	$	5.5				783,433		$	5.50		1.88		783,433		$	5.50
	$	5.59	-	5.76		675,410		$	5.70		6.77		259,146		$	5.69
	$	6	-	6.54		798,358		$	6.32		6.41		402,571		$	6.20
	$	6.61	-	6.86		666,003		$	6.77		8.14		235,077		$	6.77
	$	7				206,193		$	7.00		5.59		206,193		$	7.00
	$	9.2				113,620		$	9.20		6.08		113,620		$	9.20
						6,679,991		$	5.15		5.69		4,295,154			4.90
Summary of stock-based compensation expense by line item
			Three Months Ended December 31,						Nine Months Ended December 31,
			2014			2013			2014			2013
			(In thousands)
	Cost of revenues		$	93		$	86		$	296		$	282
	Research and development			220			235			709			726
	Selling, general and administrative			77			195			528			636
	Total		$	390		$	516		$	1,533		$	1,644
Schedule of weighted average assumptions
			Three Months Ended December 31,										Nine Months Ended December 31,
			2014					2013					2014				2013
			(In thousands)										(In thousands)
	Stock Option Plans:
	Risk-free interest rate				1.60	%				1.43	%		1.60	-	1.70	%	0.91	-	1.51	%
	Expected life (in years)				5.00					5.00					5.00				5.00
	Volatility				41.3	%				46.6	%		41.3	-	44.8	%	46.6	-	48.4	%
	Dividend yield				—	%				—	%				—	%			—	%
	Employee Stock Purchase Plan:
	Risk-free interest rate				0.05	%				0.07	%				0.05	%	0.07	-	0.09	%
	Expected life (in years)				0.50					0.50					0.50				0.50
	Volatility				38.0	%				32.8	%		30.8	-	38.0	%	30.4	-	32.8	%
	Dividend yield				—	%				—	%				—	%			—	%

8_SEGMENT_AND_GEOGRAPHIC_INFOR1

8. SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	9 Months Ended
	Dec. 31, 2014
Segment And Geographic Information
Net revenues by geographic area
		Three Months Ended December 31,				Nine Months Ended December 31,
		2014		2013		2014		2013
		(In thousands)
	United States	$	5,077	$	4,123	$	13,471	$	14,507
	China		4,459		3,465		11,697		9,736
	Malaysia		20		2,310		2,720		7,865
	Singapore		1,455		1,803		4,955		4,868
	Netherlands		1,505		768		2,977		4,180
	Rest of the world		1,711		1,309		4,615		4,576
		$	14,227	$	13,778	$	40,435	$	45,732

2_NET_INCOME_LOSS_PER_COMMON_S2

2. NET INCOME (LOSS) PER COMMON SHARE (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Net income (loss) per share:
Net income (loss)	$148	($734)	($2,248)	($789)
Weighted average shares-Basic	23,738	27,667	25,591	27,495
Dilutive effect of employee stock options	587
Weighted average shares-Dilutive	24,325	27,667	25,591	27,495
Net income (loss) per common share - Basic	$0.01	($0.03)	($0.09)	($0.03)
Net income (loss) per common share - Diluted	$0.01	($0.03)	($0.09)	($0.03)

2_NET_INCOME_LOSS_PER_COMMON_S3

2. NET INCOME (LOSS) PER COMMON SHARE (Details 2)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Net income (loss) per share:
Antidilutive shares excluded from computation of EPS	4,245	3,027	3,786	3,026

3_BALANCE_SHEET_DETAIL_Details

3. BALANCE SHEET DETAIL (Details) (USD $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Inventories:
Work-in-progress	$2,821	$2,011
Finished goods	5,704	5,588
Inventory at distributors	534	586
Total Inventory	$9,059	$8,185

3_BALANCE_SHEET_DETAIL_Details1

3. BALANCE SHEET DETAIL (Details 2) (USD $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Accounts receivable, net:
Accounts receivable	$5,622	$8,349
Less: Allowances for sales returns, doubtful accounts and other	-100	-111
Total accounts receivable, net	$5,522	$8,238

3_BALANCE_SHEET_DETAIL_Details2

3. BALANCE SHEET DETAIL (Details 3) (USD $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Prepaid expenses and other current assets:
Prepaid tooling and masks	$1,186	$833
Prepaid income taxes	974	2,598
Other receivables	414	596
Other prepaid expenses	803	1,125
Total prepaid expenses and other current assets	$3,377	$5,152

3BALANCE_SHEET_DETAIL_Property

3.BALANCE SHEET DETAIL - Property, Plant and Equipment (Details 4) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2014
Property and equipment, net:
Property and equipment, gross	$29,079,000		$29,079,000		$28,827,000
Less: Accumulated depreciation and amortization	-20,107,000		-20,107,000		-19,144,000
Property, Plant and Equipment, Net, Total	8,972,000		8,972,000		9,683,000
Depreciation and amortization	322,000	443,000	1,164,000	1,351,000
Computer and other equipment
Property and equipment, net:
Property and equipment, gross	17,230,000		17,230,000		16,990,000
Software
Property and equipment, net:
Property and equipment, gross	4,792,000		4,792,000		4,780,000
Land
Property and equipment, net:
Property and equipment, gross	3,900,000		3,900,000		3,900,000
Building and Building Improvements [Member]
Property and equipment, net:
Property and equipment, gross	2,256,000		2,256,000		2,256,000
Furniture and Fixtures [Member]
Property and equipment, net:
Property and equipment, gross	110,000		110,000		110,000
Leasehold improvements
Property and equipment, net:
Property and equipment, gross	$791,000		$791,000		$791,000

3_BALANCE_SHEET_DETAIL_Details3

3. BALANCE SHEET DETAIL (Details 5) (USD $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Other assets:
Non-current deferred income taxes	$20	$24
Intangibles, net	434	564
Deposits	77	80
Total Other Assets	$531	$668

3_BALANCE_SHEET_DETAIL_Details4

3. BALANCE SHEET DETAIL (Details 6) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2014
Gross Carrying Amount	$1,390,000		$1,390,000
Accumulated Amortization	956,000		956,000
Net Carrying Amount	434,000		434,000		564,000
Amortization of intangible assets	41,000	45,000	130,000	135,000
Product Designs
Gross Carrying Amount	590,000		590,000
Accumulated Amortization	450,000		450,000
Net Carrying Amount	140,000		140,000
Patents
Gross Carrying Amount	720,000		720,000
Accumulated Amortization	426,000		426,000
Net Carrying Amount	294,000		294,000
Software.
Gross Carrying Amount	80,000		80,000
Accumulated Amortization	$80,000		$80,000

3_BALANCE_SHEET_DETAIL_Details5

3. BALANCE SHEET DETAIL (Details 7) (USD $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Accrued expenses and other liabilities:
Accrued compensation	$2,720	$2,330
Accrued professional fees	756	824
Accrued commissions	314	307
Other accrued expenses	820	983
Total Accrued Expenses and Other Liabilities	$4,610	$4,444

4_INCOME_TAXES_Details

4. INCOME TAXES (Details) (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2014
Income Taxes
Unrecognized tax benefits, current	$0		$0
Unrecognized tax benefits, noncurrent	772,000		1,462,000
Deferred tax assets unrecognized tax benefit	1,229,000
Lapses during the current year applicable to statutes of limitations	696,000
Possible reduction in uncertain tax benefits	729,000
Deferred tax assets net of liabilities	$4,900,000		$3,700,000
Effective annual income tax rate	5.10%	34.50%

5_FINANCIAL_INSTRUMENTS_Detail

5. FINANCIAL INSTRUMENTS (Details) (USD $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Fair value measurements
Short-term investments	$24,978	$39,412
Long-term investments	18,652	28,819
Fair Value, Measurements, Recurring [Member]
Fair value measurements
Money market funds included in cash and cash equivalents	3,874	3,852
Marketable securities	43,630	68,231
Assets	47,504	72,083
Liabilities	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value measurements
Money market funds included in cash and cash equivalents	3,874	3,852
Assets	3,874	3,852
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value measurements
Marketable securities	43,630	68,231
Assets	43,630	68,231
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value measurements
Assets	$0

5_FINANCIAL_INSTRUMENTS_Detail1

5. FINANCIAL INSTRUMENTS (Details 2) (USD $)	3 Months Ended
	Dec. 31, 2014	Mar. 31, 2014
Available-for-sale investments
Cost	$43,667,000
Fair Value	43,630,000
Other information
Maximum maturity period of investment portfolio	3 years
Deferred tax asset related to unrecognized gains and losses on short-term and long-term investments	14,000
Deferred tax liability related to unrecognized gains and losses on short-term and long-term investments		11,000
Short-term Investments [Member]
Available-for-sale investments
Cost	24,964,000	39,386,000
Gross Unrealized Gains	14,000	26,000
Fair Value	24,978,000	39,412,000
Short-term Investments [Member] | Municipal Bonds [Member]
Available-for-sale investments
Cost	7,589,000	8,336,000
Gross Unrealized Gains		4,000
Fair Value	7,589,000	8,340,000
Short-term Investments [Member] | Corporate Note Securities [Member]
Available-for-sale investments
Cost	9,375,000	5,023,000
Gross Unrealized Gains	8,000	12,000
Fair Value	9,383,000	5,035,000
Short-term Investments [Member] | Bonds [Member]
Available-for-sale investments
Cost		3,523,000
Gross Unrealized Gains		2,000
Fair Value		3,525,000
Short-term Investments [Member] | Certificates of Deposit [Member]
Available-for-sale investments
Cost	8,000,000	14,997,000
Gross Unrealized Gains	6,000	6,000
Fair Value	8,006,000	15,003,000
Short-term Investments [Member] | Other
Available-for-sale investments
Cost		7,507,000
Gross Unrealized Gains		2,000
Fair Value		7,509,000
Other Long-term Investments [Member]
Available-for-sale investments
Cost	18,703,000	28,800,000
Gross Unrealized Gains	3,000	26,000
Gross Unrealized Losses	-54,000	-7,000
Fair Value	18,652,000	28,819,000
Other Long-term Investments [Member] | Municipal Bonds [Member]
Available-for-sale investments
Cost	1,064,000	8,227,000
Gross Unrealized Gains	3,000	10,000
Fair Value	1,067,000	8,237,000
Other Long-term Investments [Member] | Corporate Note Securities [Member]
Available-for-sale investments
Cost	2,451,000	6,392,000
Gross Unrealized Gains		16,000
Gross Unrealized Losses	-14,000
Fair Value	2,437,000	6,408,000
Other Long-term Investments [Member] | Bonds [Member]
Available-for-sale investments
Cost	4,009,000	2,011,000
Gross Unrealized Losses	-8,000	-5,000
Fair Value	4,001,000	2,006,000
Other Long-term Investments [Member] | Certificates of Deposit [Member]
Available-for-sale investments
Cost	9,500,000	10,500,000
Gross Unrealized Losses	-27,000	-2,000
Fair Value	9,473,000	10,498,000
Other Long-term Investments [Member] | Other Debt Obligations [Member]
Available-for-sale investments
Cost	1,679,000	1,670,000
Gross Unrealized Losses	-5,000
Fair Value	$1,674,000	$1,670,000

5_FINANCIAL_INSTRUMENTS_Detail2

5. FINANCIAL INSTRUMENTS (Details 3) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified
Financial Instruments.
Maturing within one year, Cost	$24,964
Maturing in one to three years, cost	18,703
Total	43,667
Maturing within one year, Fair Value	24,978
Maturing in one to three years, fair value	18,652
Fair Value	$43,630

6COMMITMENTS_AND_CONTINGENCIES

6-COMMITMENTS AND CONTINGENCIES - Royalties and Product Warranties (Details)	3 Months Ended
	Dec. 31, 2014
Product warranties
Warranty period	3 years

6COMMITMENTS_AND_CONTINGENCIES1

6-COMMITMENTS AND CONTINGENCIES - Legal proceedings (Details 2)	3 Months Ended
	Dec. 31, 2014
	patent
Cypress Semiconductor Litigation
Legal proceedings
Number of patents infringed	5
Cypress Semiconductor International Trade Commission
Legal proceedings
Number of patents infringed	3
Number of additional patent infringement complaints	1
Number of distributors	3
Number of customers who infringed patents	11
Number of terminated or dismissed patent claims	1
Cypress Semiconductor Northern District Litigation
Legal proceedings
Number of terminated or dismissed patent claims	3
Number of patent claims transferred	2

7_STOCK_BASED_COMPENSATION_Det

7. STOCK- BASED COMPENSATION (Details) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Stock-Based Compensation
Shares available for grant, Beginning			5,585,500
Options reserved (in shares)			1,377,699
Granted (in shares)			-684,743
Forfeited (in shares)			42,647
Shares available for grant, Ending	6,321,103		6,321,103
Number of Shares Underlying Options Outstanding
Balance at the beginning of the period (in shares)			6,143,980
Granted (in shares)			684,743
Exercised (in shares)			-106,085
Forfeited (in shares)			-42,647
Balance at the end of the period (in shares)	6,679,991		6,679,991
Options vested and exercisable (in shares)	4,295,154		4,295,154
Options vested and expected to vest (in shares)	6,614,366		6,614,366
Weighted Average Remaining Contractual Life
Options vested and exercisable (in dollars per share)	4 years 3 months 7 days
Options vested and expected to vest (in dollars per share)	5 years 7 months 28 days
Weighted Average Exercise Price
Balance at the beginning of the period (in dollars per share)			$5.13
Granted (in dollars per share)			$5.19
Exercised (in dollars per share)			$4.04
Forfeited (in dollars per share)			$5.49
Balance at the end of the period (in dollars per share)	$5.15		$5.15
Options vested and exercisable (in dollars per share)	$4.90		$4.90
Options vested and expected to vest (in dollars per share)	$5.15		$5.15
Intrinsic Value
Exercised (in dollars)			$225,037
Options vested and exercisable (in dollars)	2,784,361		2,784,361
Options vested and expected to vest (in dollars)	$3,055,795		$3,055,795
Weighted average fair value
Weighted average fair value per underlying share of options granted (in dollars per share)	$1.79	$2.78	$2.10	$2.73

7_STOCK_BASED_COMPENSATION_Det1

7. STOCK- BASED COMPENSATION (Details 2) (USD $)	3 Months Ended
	Dec. 31, 2014	Mar. 31, 2014
Options outstanding by exercise price
Exercise Price (in dollars per share)	$5.15	$5.13
Number of Shares Underlying Options Outstanding (in shares)	6,679,991
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$5.15
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 8 months 9 days
Options Exercisable, Number Vested and Exercisable (in shares)	4,295,154
$2.43 to $3.43
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	$2.43
Exercise Price, high end of range (in dollars per share)	$3.43
Number of Shares Underlying Options Outstanding (in shares)	917,064
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$3.16
Options Outstanding, Weighted Average Remaining Contractual Life	4 years 1 month 6 days
Options Exercisable, Number Vested and Exercisable (in shares)	917,064
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$3.16
$3.75 to $4.00
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	$3.75
Exercise Price, high end of range (in dollars per share)	$4
Number of Shares Underlying Options Outstanding (in shares)	812,779
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$3.96
Options Outstanding, Weighted Average Remaining Contractual Life	4 years 2 months 16 days
Options Exercisable, Number Vested and Exercisable (in shares)	812,779
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$3.96
$4.17 to $4.68
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	$4.17
Exercise Price, high end of range (in dollars per share)	$4.68
Number of Shares Underlying Options Outstanding (in shares)	716,855
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$4.32
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 8 months 9 days
Options Exercisable, Number Vested and Exercisable (in shares)	358,427
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$4.31
$4.81 to $5.23
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	$4.81
Exercise Price, high end of range (in dollars per share)	$5.23
Number of Shares Underlying Options Outstanding (in shares)	990,276
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$5.05
Options Outstanding, Weighted Average Remaining Contractual Life	8 years 4 months 17 days
Options Exercisable, Number Vested and Exercisable (in shares)	206,844
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$4.88
$5.50
Options outstanding by exercise price
Exercise Price (in dollars per share)	$5.50
Number of Shares Underlying Options Outstanding (in shares)	783,433
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$5.50
Options Outstanding, Weighted Average Remaining Contractual Life	1 year 10 months 17 days
Options Exercisable, Number Vested and Exercisable (in shares)	783,433
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$5.50
$5.59 to $5.76
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	$5.59
Exercise Price, high end of range (in dollars per share)	$5.76
Number of Shares Underlying Options Outstanding (in shares)	675,410
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$5.70
Options Outstanding, Weighted Average Remaining Contractual Life	6 years 9 months 7 days
Options Exercisable, Number Vested and Exercisable (in shares)	259,146
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$5.69
$6.00 to $6.54
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	$6
Exercise Price, high end of range (in dollars per share)	$6.54
Number of Shares Underlying Options Outstanding (in shares)	798,358
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$6.32
Options Outstanding, Weighted Average Remaining Contractual Life	6 years 4 months 28 days
Options Exercisable, Number Vested and Exercisable (in shares)	402,571
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$6.20
$6.61 to $6.86
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	$6.61
Exercise Price, high end of range (in dollars per share)	$6.86
Number of Shares Underlying Options Outstanding (in shares)	666,003
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$6.77
Options Outstanding, Weighted Average Remaining Contractual Life	8 years 1 month 21 days
Options Exercisable, Number Vested and Exercisable (in shares)	235,077
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$6.77
$7.00
Options outstanding by exercise price
Exercise Price (in dollars per share)	$7
Number of Shares Underlying Options Outstanding (in shares)	206,193
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$7
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 7 months 2 days
Options Exercisable, Number Vested and Exercisable (in shares)	206,193
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$7
$9.20
Options outstanding by exercise price
Exercise Price (in dollars per share)	$9.20
Number of Shares Underlying Options Outstanding (in shares)	113,620
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$9.20
Options Outstanding, Weighted Average Remaining Contractual Life	6 years 29 days
Options Exercisable, Number Vested and Exercisable (in shares)	113,620
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$9.20

7_STOCK_BASED_COMPENSATION_Det2

7. STOCK- BASED COMPENSATION (Details 3) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Stock-based compensation expense by line item
Stock-based compensation expense	$390,000	$516,000	$1,533,000	$1,644,000
Other information
Income tax benefit recognized from allocation of share-based compensation expense	0	35,000	0	81,000
windfall tax benefits recognized	0	280,000	0	280,000
Unrecognized compensation costs	3,600,000		3,600,000
Weighted average period of recognition of unrecognized compensation costs	1 year 11 months 16 days
Cost of Sales [Member]
Stock-based compensation expense by line item
Stock-based compensation expense	93,000	86,000	296,000	282,000
Research and Development Expense [Member]
Stock-based compensation expense by line item
Stock-based compensation expense	220,000	235,000	709,000	726,000
Selling, General and Administrative Expenses [Member]
Stock-based compensation expense by line item
Stock-based compensation expense	$77,000	$195,000	$528,000	$636,000

7_STOCK_BASED_COMPENSATION_Det3

7. STOCK- BASED COMPENSATION (Details 4)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Employee Consultants and Directors Stock Options [Member]
Stock-based compensation
Risk-free interest rate (as a percent)	1.60%	1.43%
Risk-free interest rate, low end of range (as a percent)			1.60%	0.91%
Risk-free interest rate, high end of range (as a percent)			1.70%	1.51%
Expected life	5 years	5 years	5 years	5 years
Volatility (as a percent)	41.30%	46.60%
Volatility, low end of range (as a percent)			41.30%	46.60%
Volatility, high end of range (as a percent)			44.80%	48.40%
Dividend yield (as a percent)	0.00%	0.00%	0.00%	0.00%
Employee Stock [Member]
Stock-based compensation
Risk-free interest rate (as a percent)	0.05%	0.07%	0.05%
Risk-free interest rate, low end of range (as a percent)				0.07%
Risk-free interest rate, high end of range (as a percent)				0.09%
Expected life	6 months	6 months	6 months	6 months
Volatility (as a percent)	38.00%	32.80%
Volatility, low end of range (as a percent)			30.80%	30.40%
Volatility, high end of range (as a percent)			38.00%	32.80%
Dividend yield (as a percent)	0.00%	0.00%	0.00%	0.00%

8_SEGMENT_AND_GEOGRAPHIC_INFOR2

8. SEGMENT AND GEOGRAPHIC INFORMATION (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
			segment
Net revenues by geographic area
Number of reportable business segments			1
Net revenues	$14,227	$13,778	$40,435	$45,732
UNITED STATES
Net revenues by geographic area
Net revenues	5,077	4,123	13,471	14,507
CHINA
Net revenues by geographic area
Net revenues	4,459	3,465	11,697	9,736
MALAYSIA
Net revenues by geographic area
Net revenues	20	2,310	2,720	7,865
SINGAPORE
Net revenues by geographic area
Net revenues	1,455	1,803	4,955	4,868
NETHERLANDS
Net revenues by geographic area
Net revenues	1,505	768	2,977	4,180
Rest of World [Member]
Net revenues by geographic area
Net revenues	$1,711	$1,309	$4,615	$4,576

9_MODIFIED_DUTCH_AUCTION_TENDE1

9. MODIFIED DUTCH AUCTION TENDER OFFER (Details) (USD $)	0 Months Ended
In Millions, except Share data, unless otherwise specified	Aug. 08, 2014	Dec. 31, 2014	Mar. 31, 2014	Jul. 09, 2014
Modified Dutch auction self-tender offer
Common stock, shares outstanding	23,700,000	23,657,906	27,561,482
July 9, 2014 Modified Dutch Auction [Member]
Modified Dutch auction self-tender offer
Stock Repurchase Program, Authorized Amount				$25
Repurchase of common stock, Shares	3,846,153
Treasury stock acquired cost per share	$6.50
Repurchase of common stock, Amount	$25
Shares tendered	10,466,830
Percent of shares issued and outstanding acquired	14
July 9, 2014 Modified Dutch Auction [Member] | Minimum
Modified Dutch auction self-tender offer
Share Price				$6.50
July 9, 2014 Modified Dutch Auction [Member] | Maximum
Modified Dutch auction self-tender offer
Share Price				$6.70