American Science & Engineering (ASEI) 10-Q 5 Feb 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Dec. 31, 2013	Jan. 30, 2014
Document and Entity Information	'	'
Entity Registrant Name	'AMERICAN SCIENCE & ENGINEERING, INC.	'
Entity Central Index Key	'0000005768	'
Document Type	'10-Q	'
Document Period End Date	31-Dec-13	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--03-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	7,863,186
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$65,965	$40,418
Restricted cash and investments	14,753	12,618
Short-term investments, at fair value	86,428	108,546
Accounts receivable, net of allowances of $285 and $351 at December 31, 2013 and March 31, 2013, respectively	22,591	28,477
Unbilled costs and fees	2,484	4,875
Inventories, net	50,144	48,051
Prepaid expenses and other current assets	7,519	8,829
Deferred income taxes	1,582	3,155
Total current assets	251,466	254,969
Building, equipment and leasehold improvements, net	13,972	16,451
Restricted cash and investments	397	899
Deferred income taxes	8,004	8,325
Other assets, net	683	805
Total assets	274,522	281,449
Current liabilities:	'	'
Accounts payable	8,913	8,371
Accrued salaries and benefits	8,722	9,974
Accrued warranty costs	426	397
Accrued income taxes	'	2,094
Deferred revenue	11,410	15,770
Customer deposits	33,131	16,199
Current portion of lease financing liability	1,505	1,489
Other current liabilities	9,231	14,194
Total current liabilities	73,338	68,488
Lease financing liability, net of current portion	1,783	2,914
Deferred revenue	3,423	5,535
Other long-term liabilities	272	267
Total liabilities	78,816	77,204
Stockholders' equity:	'	'
Preferred stock, no par value, 100,000 shares authorized; no shares issued	'	'
Common stock, $0.66 2/3 par value, 20,000,000 shares authorized 7,860,457 and 7,980,202 shares issued and outstanding at December 31, 2013 and March 31, 2013, respectively	5,240	5,320
Capital in excess of par value	33,551	41,458
Accumulated other comprehensive income (loss), net	20	-4
Retained earnings	156,895	157,471
Total stockholders' equity	195,706	204,245
Total liabilities and stockholders' equity	$274,522	$281,449

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2013	Mar. 31, 2013
In Thousands, except Share data, unless otherwise specified
CONDENSED CONSOLIDATED BALANCE SHEETS	'	'
Accounts receivable, allowances (in dollars)	$285	$351
Preferred stock, no par value (in dollars per share)	'	'
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$0.67	$0.67
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	7,860,457	7,980,202
Common stock, shares outstanding	7,860,457	7,980,202

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Net sales and contract revenues:	'	'	'	'
Net product sales and contract revenues	$23,164	$27,383	$66,652	$78,176
Net service revenues	14,609	23,420	58,021	66,224
Total net sales and contract revenues	37,773	50,803	124,673	144,400
Cost of sales and contract revenues:	'	'	'	'
Cost of product sales and contract revenues	12,803	19,414	39,697	50,031
Cost of service revenues	8,102	8,689	29,755	29,199
Total cost of sales and contract revenues	20,905	28,103	69,452	79,230
Gross profit	16,868	22,700	55,221	65,170
Expenses:	'	'	'	'
Selling, general and administrative expenses	8,396	8,280	22,718	21,173
Research and development costs	6,139	5,242	15,725	18,862
Total operating expenses	14,535	13,522	38,443	40,035
Operating income	2,333	9,178	16,778	25,135
Other income (expense):	'	'	'	'
Interest and investment income	107	131	276	513
Interest expense	-13	-10	-42	-49
Other, net	-83	-67	-226	-305
Total other income	11	54	8	159
Income before provision for income taxes	2,344	9,232	16,786	25,294
Provision for income taxes	786	3,139	5,624	8,600
Net income	1,558	6,093	11,162	16,694
Other comprehensive income:	'	'	'	'
Unrealized gain (loss) on available for sale securities (net of tax)	-10	-27	24	-23
Comprehensive income	$1,548	$6,066	$11,186	$16,671
Income per share - Basic (in dollars per share)	$0.20	$0.74	$1.42	$1.97
Income per share - Diluted (in dollars per share)	$0.20	$0.73	$1.41	$1.95
Weighted average shares - Basic (in shares)	7,850	8,247	7,837	8,488
Weighted average shares - Diluted (in shares)	7,889	8,307	7,873	8,542
Dividends declared per share (in dollars per share)	$0.50	$0.50	$1.50	$1.50

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:	'	'
Net income	$11,162	$16,694
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	3,942	3,821
Provisions for contracts, inventory and accounts receivable reserves	1,233	3,503
Amortization of bond premium	1,192	2,151
Deferred income taxes	1,894	152
Other	'	-59
Stock compensation expense (credit)	1,527	-85
Changes in assets and liabilities:	'	'
Accounts receivable	5,952	-14,907
Unbilled costs and fees	2,391	-859
Inventories	-3,392	453
Prepaid expenses and other assets	1,432	684
Accounts payable	542	-892
Accrued income taxes	-2,094	879
Customer deposits	16,932	9,580
Deferred revenue	-6,472	81
Accrued expenses and other liabilities	-6,181	-296
Net cash provided by operating activities	30,060	20,900
Cash flows from investing activities:	'	'
Purchases of short-term investments	-47,805	-99,719
Proceeds from sales and maturities of short-term investments	68,755	150,514
Purchases of property and equipment, net	-1,463	-2,500
Net cash provided by investing activities	19,487	48,295
Cash flows from financing activities:	'	'
Increase in restricted cash and investments	-1,633	-1,384
Proceeds from exercise of stock options	2,889	1,079
Repurchase of shares of common stock	-12,306	-45,347
Repayment of leasehold financing liability	-1,115	-1,003
Payment of common stock dividend	-11,749	-12,760
Reduction of income taxes paid due to the tax benefit from employee stock option exercises	-86	'
Net cash used for financing activities	-24,000	-59,415
Net increase in cash and cash equivalents	25,547	9,780
Cash and cash equivalents at beginning of period	40,418	24,369
Cash and cash equivalents at end of period	$65,965	$34,149

GENERAL

GENERAL	9 Months Ended
	Dec. 31, 2013
GENERAL	'
GENERAL	'
	1.   GENERAL
	The condensed consolidated financial statements include the accounts of American Science and Engineering, Inc. and its wholly owned subsidiaries (the “Company”). All significant intercompany transactions and balances have been eliminated.
	The unaudited condensed consolidated financial statements have been prepared in accordance with the requirements of Form 10-Q and consequently do not include all disclosures required by Form 10-K. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2013, or fiscal 2013, as filed with the Securities and Exchange Commission on June 7, 2013.
	The unaudited condensed consolidated financial statements, in the opinion of management, include all necessary adjustments, consisting solely of normal recurring adjustments, to present fairly the Company’s financial position, results of operations and cash flows.  These results are not necessarily indicative of the results to be expected for the entire year.
	Nature of Operations
	The Company develops, manufactures, markets, and sells X-ray inspection and other detection products for homeland security and other targeted markets.  The Company provides maintenance, warranty, engineering, and training services related to these products.  The Company has one reporting segment, X-ray screening products.
	Significant Accounting Policies
	For systems that are produced in a standard manufacturing operation and have shorter order to delivery cycles, the Company recognizes sales when title passes and when other revenue recognition criteria (such as transfer of risk and customer acceptance) are met.  Revenues on cost reimbursable and custom long-term fixed price contracts are generally recorded as costs are incurred using the percentage of completion method.
	Occasionally, the Company receives requests from customers to hold product being purchased for a valid business purpose. The Company recognizes revenue for such arrangements provided the transaction meets, at a minimum, the following criteria: a valid business purpose for the arrangement exists; risk of ownership of the purchased product has transferred to the buyer; there is a fixed delivery date that is reasonable and consistent with the buyer’s business purpose; the product is ready for shipment; the Company has no continuing performance obligation in regards to the product and the product has been segregated from the Company’s inventories and cannot be used to fill other orders received.   There was no product being held under such arrangements at December 31, 2013 or March 31, 2013.
	The other significant accounting policies followed by the Company and its subsidiaries in preparing its consolidated financial statements are set forth in Note 1 to the consolidated financial statements included in its Form 10-K for the year ended March 31, 2013.  There have been no changes to the Company’s critical accounting policies during the three or nine months ended December 31, 2013.
	Stock Repurchase Program
	On August 2, 2012, the Board of Directors announced the approval of the Company’s fourth Stock Repurchase Program which authorized the Company to repurchase up to $35.0 million of shares of its common stock from time to time on the open market or in privately negotiated transactions.  On May 7, 2013, the Board of Directors announced the approval of its fifth Stock Repurchase Program which authorizes the Company to repurchase up to another $35.0 million of shares of its common stock from time to time on the open market or in privately negotiated transactions.
	The Company completed its purchases under the August 2012 Stock Repurchase Program in May 2013.  During the three months ended December 31, 2013, the Company made no additional share repurchases.  As of December 31, 2013, the maximum dollar value of shares that may still be purchased under the May 2013 Stock Repurchase Program was $35,000,000.
	Dividends
		Three Months Ended				Nine Months Ended
	(In thousands)	December 31,		December 31,		December 31,		December 31,
		2013		2012		2013		2012
	Dividends declared	$	0.5	$	0.5	$	1.5	$	1.5
	Dividends paid	$	0.5	$	0.5	$	1.5	$	1.5
	On February 5, 2014, the Company declared a cash dividend of $0.50 per share. The dividend will be paid on March 3, 2014 to all shareholders of record at the close of business on February 18, 2014.  Future dividends will be declared at the discretion of the Board of Directors and will depend upon such factors as the Board of Directors deems relevant.
	Concentrations of Credit Risk
	Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents, restricted cash, short-term investments and accounts and unbilled receivables.  At times, the Company maintains cash balances in excess of insured limits. The Company maintains its cash and cash equivalents with major financial institutions.  The Company’s credit risk is managed by investing its cash in investment grade corporate debentures/bonds, U.S. government agency bonds, commercial paper, U.S. treasury bills, money market funds, and certificates of deposit.

ACCOUNTING_FOR_STOCKBASED_COMP

ACCOUNTING FOR STOCK-BASED COMPENSATION	9 Months Ended
	Dec. 31, 2013
ACCOUNTING FOR STOCK-BASED COMPENSATION	'
ACCOUNTING FOR STOCK-BASED COMPENSATION	'
	2.   ACCOUNTING FOR STOCK-BASED COMPENSATION
	The Company accounts for stock-based awards made to its employees and Board of Directors in accordance with Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) 718, Compensation—Stock Compensation, which requires the measurement and recognition of all compensation costs for stock-based awards made to employees and the Board of Directors based upon fair value over the requisite service period for awards expected to vest.
	The Company recognized $886,000 and $19,000 of stock-based compensation costs for the three months ended December 31, 2013 and December 31, 2012, respectively. The Company recognized $1,527,000 and $(85,000) of stock-based compensation costs (credits) for the nine months ended December 31, 2013 and December 31, 2012, respectively. The credits for the nine months ended December 31, 2012 include a reversal of certain incentive compensation plan costs previously accrued, which were terminated as a result of the announced retirement of the Company’s former Chief Executive Officer in September of 2012.  The income tax benefit recognized related to the compensation costs for the three months ended December 31, 2013 and December 31, 2012 was approximately $297,000 and $6,000, respectively.  The income tax (expense) benefit recognized related to the compensation costs (credits) for the nine months ended December 31, 2013 and December 31, 2012 was approximately $512,000 and $(29,000), respectively.
	The following table summarizes stock-based compensation costs included in the Company’s consolidated statements of operations and comprehensive income:
		Three Months Ended						Nine Months Ended
	(In thousands)	December 31,			December 31,			December 31,			December 31,
		2013			2012			2013			2012
	Cost of revenues	$	329		$	(26	)	$	546		$	118
	Selling, general and administrative	557			45			981			(203		)
	Total share-based compensation expense (credits) before tax	$	886		$	19		$	1,527		$	(85	)
	Stock Option and Other Compensation Plans
	The Company has various stock option and other compensation plans for directors, officers, and employees. The Company had the following stock plans outstanding as of December 31, 2013: the 1998 Non-Qualified Option Plan, the 1999 Combination Plan, the 2000 Combination Plan, the 2002 Combination Plan, the 2003 Stock Plan for Non-Employee Directors and the 2005 Equity and Incentive Plan. There are 3,480,000 shares authorized for issuance pursuant to equity awards under these plans. Vesting periods are at the discretion of the Board of Directors and typically range from one to three years. Certain of the options granted vest upon the achievement of certain performance based goals as well as service time incurred.  Options under these plans are granted at fair market value and have a term of ten years from the date of grant.
	Stock Options
	The following tables summarize stock option activity for the nine months ended December 31, 2013:
		Number of		Weighted			Weighted		Aggregate
		Shares		Average			Average		Intrinsic
				Exercise			Contractual		Value
				Price ($)			Life
							(years)
	Options outstanding at March 31, 2013	315,162		$	56.72		4.08
	Grants	—		—
	Exercises	(62,724	)	46.05					$	1,060,000
	Cancellations	(5,345	)	43.66
	Options outstanding at December 31, 2013	247,093		$	59.71		3.53
	Options exercisable at December 31, 2013	245,279		$	59.7
	Information related to the stock options outstanding as of December 31, 2013 is as follows:
	Range of Exercise Prices	Number of		Weighted-		Weighted-			Exercisable		Exercisable
		Shares		Average		Average			Number of		Weighted-
				Remaining		Exercise Price			Shares		Average
				Contractual		($)					Exercise Price
				Life (years)							($)
	$11.58 - $20.00	10,750		0.32		$	15.8		10,750		$	15.8
	$20.01 - $30.00	10,900		0.7		28.5			10,900		28.5
	$30.01 - $40.00	8,629		0.92		39.06			8,629		39.06
	$40.01 - $50.00	11,200		1.91		47.16			11,200		47.16
	$50.01 - $60.00	39,807		1.93		53.42			39,807		53.42
	$60.01 - $70.00	109,626		3.75		64.54			107,812		64.59
	$70.01 - $75.82	56,181		6.13		74.87			56,181		74.87
	$11.58 - $75.82	247,093		3.53		$	59.71		245,279		$	59.7
	The Company deems the Black-Scholes option pricing model as the most appropriate method for determining the estimated fair value of stock-based awards. The Black-Scholes method of valuation requires several assumptions: (1) the expected term of the stock-based award; (2) the expected future stock volatility over the expected term; (3) a risk-free interest rate; and (4) the expected dividend yield. The expected term represents the expected period of time that the Company believes the options will be outstanding based on historical information. Estimates of expected future stock price volatility are based on the historic volatility of the Company’s common stock and the risk-free interest rate is based on the U.S. Zero-Bond rate. The expected dividend yield is based on the assumption that the Company would continue paying dividends on its common stock at the same rate for the foreseeable future.
	There were no options granted in the three or nine month periods ended December 31, 2013 or December 31, 2012.
	As of December 31, 2013, there was no remaining unrecognized compensation cost related to options granted. Non-vested common stock options are subject to the risk of forfeiture until the fulfillment of specified conditions.
	Restricted Stock and Restricted Stock Units
	The Company has instituted long-term incentive plans for certain key employees. These plans call for the issuance of restricted stock, restricted stock units, restricted stock options, and/or cash incentives which vest or are paid upon the achievement of certain performance-based goals as well as service time incurred.  Restricted stock and restricted stock units may also be granted to other employees with vesting periods that range from one to three years.  In addition, annually the non-employee directors are granted restricted stock. Restricted stock shares granted to our non-employee directors vest on a pro-rata basis on service time performed over a one-year period.  The fair values of the restricted stock and restricted stock unit awards are equal to the market price per share of the Company’s common stock on the date of grant.
	Non-vested restricted stock and stock unit awards are subject to the risk of forfeiture until the fulfillment of specified conditions. As of December 31, 2013, there was $3,284,000 of total unrecognized compensation costs related to non-vested restricted stock and stock unit awards granted under the Company’s stock plans. These costs are expected to be recognized over a weighted average period of 1.1 years.
	The following table summarizes the status of the Company’s non-vested restricted stock and stock unit awards for the nine months ended December 31, 2013:
		Number of		Weighted Average
		Shares		Grant Date
				Fair Value
				($)
	Outstanding at March 31, 2013	28,109		$	66.2
	Granted	69,015		60.36
	Vested	(17,506	)	65.91
	Forfeited	(4,063	)	63.73
	Outstanding at December 31, 2013	75,555		$	61.07

INVENTORIES

INVENTORIES	9 Months Ended
	Dec. 31, 2013
INVENTORIES	'
INVENTORIES	'
	3.              INVENTORIES
	Inventories consist of material, labor and manufacturing overhead and are recorded at the lower of cost, using the weighted average cost method, or net realizable value. Excess manufacturing overhead costs attributable to idle facility expenses, freight, handling costs and wasted material (spoilage) attributable to abnormally low production volumes (levels that materially differ from budgeted production plans due primarily to changes in customer demand) are excluded from inventory and recorded as an expense in the period incurred.
	The components of inventories at December 31, 2013 and March 31, 2013 were as follows:
	(In thousands)	December 31,		March 31,
		2013		2013
	Raw materials, completed sub-assemblies, and spare parts	$	16,823	$	21,450
	Work-in-process	28,945		21,129
	Finished goods	4,376		5,472
	Total	$	50,144	$	48,051

INCOME_PER_COMMON_AND_COMMON_E

INCOME PER COMMON AND COMMON EQUIVALENT SHARE	9 Months Ended
	Dec. 31, 2013
INCOME PER COMMON AND COMMON EQUIVALENT SHARE	'
INCOME PER COMMON AND COMMON EQUIVALENT SHARE	'
	4.   INCOME PER COMMON AND COMMON EQUIVALENT SHARE
	Basic earnings per common share is computed by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding during the period.   Share-based payment awards entitling holders to receive non-forfeitable dividends before vesting are considered participating securities and thus are included in the calculation of basic earnings per share under the two-class method.    Diluted earnings per share include the dilutive impact of options, and restricted stock units using the average share price of the Company’s common stock for the period. For the three months ended December 31, 2013 and December 31, 2012, common stock equivalents of 83,000 and 108,000 shares, respectively, are excluded from diluted earnings per share, as their effect is anti-dilutive. For the nine months ended December 31, 2013 and December 31, 2012, common stock equivalents of 159,000 and 197,000 shares, respectively, are excluded from diluted earnings per share, as their effect is anti-dilutive.
		Three Months Ended					Nine Months Ended
	(In thousands except per share amounts)	December 31,			December 31,		December 31,			December 31,
		2013			2012		2013			2012
	Income Per Share
	Basic:
	Net income	$	1,558		$	6,093	$	11,162		$	16,694
	Less: Distributed and undistributed earnings to unvested restricted stock units	(12		)	—		(24		)	—
	Distributed and undistributed earnings to common shareholders — Basic	1,546			$	6,093	11,138			$	16,694
	Weighted average number of common shares outstanding — basic	7,850			8,247		7,837			8,488
	Net income per share — basic	$	0.2		$	0.74	$	1.42		$	1.97
	Diluted:
	Weighted average number of common shares outstanding— basic	7,850			8,247		7,837			8,488
	Add dilutive effect of potential common shares	39			60		36			54
	Weighted average number of common and potential common shares outstanding — diluted	7,889			8,307		7,873			8,542
	Net income per share — diluted	$	0.2		$	0.73	$	1.41		$	1.95

LETTERS_OF_CREDIT

LETTERS OF CREDIT	9 Months Ended
	Dec. 31, 2013
LETTERS OF CREDIT	'
LETTERS OF CREDIT	'
	5.   LETTERS OF CREDIT
	In the normal course of business, the Company may provide certain customers and potential customers with performance guarantees, which are generally backed by standby letters of credit. In general, the Company would only be liable for the amount of these guarantees in the event of default in the performance of its obligations, the probability of which management believes is low.   As of December 31, 2013, the Company had outstanding $28,505,000 in standby letters of credit.  These outstanding standby letters of credit are cash-secured at amounts ranging from 52% to 75% of the outstanding letters of credit, resulting in restricted cash and investments balance of $15,150,000 at December 31, 2013, of which $397,000 was considered long-term restricted cash and investments due to the expiration date of the underlying letters of credit.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Dec. 31, 2013
FAIR VALUE MEASUREMENTS	'
FAIR VALUE MEASUREMENTS	'
	6.   FAIR VALUE MEASUREMENTS
	The Company has categorized its financial assets, based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy as set forth below. If the inputs used to measure a financial instrument fall within different levels of the hierarchy, the categorization of such financial asset is based on the lowest level input that is significant to the fair value measurement of such instrument.
	Financial assets are categorized based on the inputs to the valuation techniques as follows:
	Level 1 - Financial assets whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that the Company has the ability to access at the measurement date (examples include actively exchange-traded equity securities, listed derivatives, and most U.S. government and agency securities).
	Level 2 - Financial assets whose values are based on quoted prices in markets where trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets.  Level 2 inputs include the following:
	·    Quoted prices for identical or similar assets or liabilities in non-active markets;
	·    Inputs other than quoted prices that are observable for substantially the full term of the asset or liability; and
	·    Inputs that are derived principally from or corroborated by observable market data for substantially the full term of the asset or liability.
	Level 3 - Financial assets whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s assumptions about the assumptions a market participant would use in pricing the asset or liability. The Company currently does not have any Level 3 financial assets or liabilities.
	The following table presents the financial assets that the Company measures at fair value on a recurring basis, based on the fair value hierarchy as of December 31, 2013 and March 31, 2013:
	(In thousands)	December 31,		March 31,
		2013		2013
	Level 1 — Financial Assets
	Money market funds	$	39,414	$	16,549
	Total Level 1 Financial Assets	39,414		16,549
	Level 2 — Financial Assets
	Corporate debentures/bonds	35,709		75,572
	Government agency bonds	21,313		—
	Treasury bills	17,712		—
	Commercial paper	7,694		28,974
	Certificates of deposit	4,000		4,000
	Total Level 2 Financial Assets	86,428		108,546
	Total cash equivalents and short-term investments	$	125,842	$	125,095
	These investments are classified as available-for-sale and are recorded at their fair market values using the specific identification method. As of December 31, 2013, all of the Company’s available-for-sale securities had contractual maturities of twenty-one months or less. The Company had no material realized gains or losses on its available-for-sale securities for the three or nine months ended December 31, 2013 and December 31, 2012, respectively. The unrealized holding gains or losses on these securities are included as a component of other comprehensive income, as disclosed in the condensed consolidated statements of operations and comprehensive income.
	(In thousands)	Amortized		Gross		Gross			Fair Value
		Cost		Unrealized		Unrealized
				Gains		Losses
	December 31, 2013:
	Short-term investments:
	Corporate debentures/bonds	$	35,695	$	19	$	(5	)	$	35,709
	Government agency bonds	21,311		3		(1		)	21,313
	Treasury bills	17,710		5		(3		)	17,712
	Commercial paper	7,694		—		—			7,694
	Certificates of deposit	4,000		—		—			4,000
	Total short-term investments	$	86,410	$	27	$	(9	)	$	86,428
	Cash equivalents:
	Money market funds	39,414		—		—			39,414
	Total cash equivalents	$	39,414	$	—	$	—		$	39,414
	(In thousands)	Amortized		Gross		Gross			Fair Value
		Cost		Unrealized		Unrealized
				Gains		Losses
	March 31, 2013:
	Short-term investments:
	Corporate debentures/bonds	$	75,578	$	14	$	(20	)	$	75,572
	Commercial paper	28,974		—		—			28,974
	Certificates of deposit	4,000		—		—			4,000
	Total short-term investments	$	108,552	$	14	$	(20	)	$	108,546
	Cash equivalents:
	Money market funds	16,549		—		—			16,549
	Total cash equivalents	$	16,549	$	—	$	—		$	16,549

INCOME_TAXES

INCOME TAXES	9 Months Ended
	Dec. 31, 2013
INCOME TAXES	'
INCOME TAXES	'
	7.   INCOME TAXES
	The Company accounts for income taxes in accordance with FASB ASC 740, Income Taxes, and recognizes deferred income taxes based on the expected future tax consequences of differences between the financial statement basis and the tax basis of assets and liabilities, calculated using enacted tax rates in effect for the year in which the differences are expected to be reflected in the tax return. The Company evaluates the need for a valuation allowance against its net deferred tax assets at period end based upon its three year cumulative income and its projections of future income, and records a valuation allowance against any net deferred tax assets if it is more likely than not that they will not be realized.
	The Company is currently open to audit under the statute of limitations by the Internal Revenue Service for the years ending March 31, 2011 through 2013 and by various state taxing authorities for the years ending March 31, 2011 through 2013.  The Company was under examination by the Internal Revenue Service for the tax year ended March 31, 2011.  The audit was completed during the third quarter of fiscal 2014.  The examination had no material impact on the Company’s financial position or results of operations.
	In April 2013, the Company received an outstanding refund from the Massachusetts Department of Revenue for tax years ending March 31, 2006 through 2008 related to its sales apportionment methodology.  The Company received proceeds of approximately $1,500,000 related to this settlement which had been recorded as a receivable at March 31, 2013.

GUARANTEES

GUARANTEES	9 Months Ended
	Dec. 31, 2013
GUARANTEES	'
GUARANTEES	'
	8.   GUARANTEES
	Certain of the Company’s products carry a one-year warranty, the costs of which are accrued for at the time of shipment or delivery.  Accrual rates are based upon historical experience for the trailing twelve months and management’s judgment of future exposure.  Warranty experience for the three and nine months ended December 31, 2013 and 2012 was as follows:
		Three Months Ended						Nine Months Ended
	(In thousands)	December 31,			December 31,			December 31,			December 31,
		2013			2012			2013			2012
	Warranty accrual - beginning of period	$	345		$	375		$	397		$	358
	Accruals for warranties issued during the period	182			160			410			436
	Adjustment of preexisting accrual estimates	—			6			(66		)	148
	Warranty costs incurred during the period	(101		)	(133		)	(315		)	(534		)
	Warranty accrual — end of period	$	426		$	408		$	426		$	408

LEASE_COMMITMENTS

LEASE COMMITMENTS	9 Months Ended
	Dec. 31, 2013
LEASE COMMITMENTS	'
LEASE COMMITMENTS	'
	9.   LEASE COMMITMENTS
	In March 2005, the Company renewed its lease agreement for its corporate headquarters and manufacturing facilities in Billerica, Massachusetts.  As part of the lease agreement, the Company’s landlord agreed to certain renovations to the Billerica facility including the construction of additional high bay manufacturing space.  The Company was responsible for a portion of the construction costs and was deemed to be the owner of the building during the construction period under FASB ASC 840, Leases.  In January 2007, the Company amended this lease agreement to expand its lease to include the remaining available space in the building.  A total of $7,182,000 was capitalized to record the facility on its books with an offsetting credit to the lease financing liability.  In addition, amounts paid for construction were capitalized to fixed assets and the landlord construction allowances of $6,009,000 were recorded as additional lease financing liability.
	At the completion of the construction of the initial renovations in February 2006, the lease was reviewed for potential sale-leaseback treatment in accordance with FASB ASC 840-40, Leases — Sale-Leaseback Transactions.  Based on this review, it was determined that the lease did not qualify for sale-leaseback treatment in accordance with FASB ASC 840-40.  As a result, the building and tenant improvement and associated lease financing liabilities remain on the Company’s books.  The lease financing liability is being amortized over the lease term based on the payments designated in the agreement and the building and tenant improvement assets are being depreciated on a straight line basis over the lesser of their useful lives or the lease term.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Dec. 31, 2013
COMMITMENTS AND CONTINGENCIES.	'
COMMITMENTS AND CONTINGENCIES	'
	10.   COMMITMENTS AND CONTINGENCIES
	Deferred Revenue
	The Company offers extended warranty and service contracts to its customers. These contracts typically cover a period of one to five years, and include advance payments that are recorded as deferred revenue. Revenue is recognized as services are performed over the life of the contract, which represents the period over which these revenues are earned. Costs associated with these extended warranty and service contracts are expensed to cost of goods sold as incurred.

GENERAL_Policies

GENERAL (Policies)	9 Months Ended
	Dec. 31, 2013
GENERAL	'
Nature of Operations and Basis of Presentation	'
	The condensed consolidated financial statements include the accounts of American Science and Engineering, Inc. and its wholly owned subsidiaries (the “Company”). All significant intercompany transactions and balances have been eliminated.
	The unaudited condensed consolidated financial statements have been prepared in accordance with the requirements of Form 10-Q and consequently do not include all disclosures required by Form 10-K. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2013, or fiscal 2013, as filed with the Securities and Exchange Commission on June 7, 2013.
	The unaudited condensed consolidated financial statements, in the opinion of management, include all necessary adjustments, consisting solely of normal recurring adjustments, to present fairly the Company’s financial position, results of operations and cash flows.  These results are not necessarily indicative of the results to be expected for the entire year.
	The Company develops, manufactures, markets, and sells X-ray inspection and other detection products for homeland security and other targeted markets.  The Company provides maintenance, warranty, engineering, and training services related to these products.  The Company has one reporting segment, X-ray screening products.
Revenue Recognition	'
	For systems that are produced in a standard manufacturing operation and have shorter order to delivery cycles, the Company recognizes sales when title passes and when other revenue recognition criteria (such as transfer of risk and customer acceptance) are met.  Revenues on cost reimbursable and custom long-term fixed price contracts are generally recorded as costs are incurred using the percentage of completion method.
	Occasionally, the Company receives requests from customers to hold product being purchased for a valid business purpose. The Company recognizes revenue for such arrangements provided the transaction meets, at a minimum, the following criteria: a valid business purpose for the arrangement exists; risk of ownership of the purchased product has transferred to the buyer; there is a fixed delivery date that is reasonable and consistent with the buyer’s business purpose; the product is ready for shipment; the Company has no continuing performance obligation in regards to the product and the product has been segregated from the Company’s inventories and cannot be used to fill other orders received.   There was no product being held under such arrangements at December 31, 2013 or March 31, 2013.
Stock Repurchase Program and Dividends	'
	Stock Repurchase Program
	On August 2, 2012, the Board of Directors announced the approval of the Company’s fourth Stock Repurchase Program which authorized the Company to repurchase up to $35.0 million of shares of its common stock from time to time on the open market or in privately negotiated transactions.  On May 7, 2013, the Board of Directors announced the approval of its fifth Stock Repurchase Program which authorizes the Company to repurchase up to another $35.0 million of shares of its common stock from time to time on the open market or in privately negotiated transactions.
	The Company completed its purchases under the August 2012 Stock Repurchase Program in May 2013.  During the three months ended December 31, 2013, the Company made no additional share repurchases.  As of December 31, 2013, the maximum dollar value of shares that may still be purchased under the May 2013 Stock Repurchase Program was $35,000,000.
	Dividends
		Three Months Ended				Nine Months Ended
	(In thousands)	December 31,		December 31,		December 31,		December 31,
		2013		2012		2013		2012
	Dividends declared	$	0.5	$	0.5	$	1.5	$	1.5
	Dividends paid	$	0.5	$	0.5	$	1.5	$	1.5
	On February 5, 2014, the Company declared a cash dividend of $0.50 per share. The dividend will be paid on March 3, 2014 to all shareholders of record at the close of business on February 18, 2014.  Future dividends will be declared at the discretion of the Board of Directors and will depend upon such factors as the Board of Directors deems relevant.
Concentrations of Credit Risk	'
	Concentrations of Credit Risk
	Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents, restricted cash, short-term investments and accounts and unbilled receivables.  At times, the Company maintains cash balances in excess of insured limits. The Company maintains its cash and cash equivalents with major financial institutions.  The Company’s credit risk is managed by investing its cash in investment grade corporate debentures/bonds, U.S. government agency bonds, commercial paper, U.S. treasury bills, money market funds, and certificates of deposit.

GENERAL_Tables

GENERAL (Tables)	9 Months Ended
	Dec. 31, 2013
GENERAL	'
Schedule of dividends	'
		Three Months Ended				Nine Months Ended
	(In thousands)	December 31,		December 31,		December 31,		December 31,
		2013		2012		2013		2012
	Dividends declared	$	0.5	$	0.5	$	1.5	$	1.5
	Dividends paid	$	0.5	$	0.5	$	1.5	$	1.5

ACCOUNTING_FOR_STOCKBASED_COMP1

ACCOUNTING FOR STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Dec. 31, 2013
ACCOUNTING FOR STOCK-BASED COMPENSATION	'
Summary of stock-based compensation costs in the statements of operations and comprehensive income	'
		Three Months Ended						Nine Months Ended
	(In thousands)	December 31,			December 31,			December 31,			December 31,
		2013			2012			2013			2012
	Cost of revenues	$	329		$	(26	)	$	546		$	118
	Selling, general and administrative	557			45			981			(203		)
	Total share-based compensation expense (credits) before tax	$	886		$	19		$	1,527		$	(85	)
Summary of stock option activity	'
		Number of		Weighted			Weighted		Aggregate
		Shares		Average			Average		Intrinsic
				Exercise			Contractual		Value
				Price ($)			Life
							(years)
	Options outstanding at March 31, 2013	315,162		$	56.72		4.08
	Grants	—		—
	Exercises	(62,724	)	46.05					$	1,060,000
	Cancellations	(5,345	)	43.66
	Options outstanding at December 31, 2013	247,093		$	59.71		3.53
	Options exercisable at December 31, 2013	245,279		$	59.7
Schedule of information related to stock options by exercise price range	'
	Information related to the stock options outstanding as of December 31, 2013 is as follows:
	Range of Exercise Prices	Number of		Weighted-		Weighted-			Exercisable		Exercisable
		Shares		Average		Average			Number of		Weighted-
				Remaining		Exercise Price			Shares		Average
				Contractual		($)					Exercise Price
				Life (years)							($)
	$11.58 - $20.00	10,750		0.32		$	15.8		10,750		$	15.8
	$20.01 - $30.00	10,900		0.7		28.5			10,900		28.5
	$30.01 - $40.00	8,629		0.92		39.06			8,629		39.06
	$40.01 - $50.00	11,200		1.91		47.16			11,200		47.16
	$50.01 - $60.00	39,807		1.93		53.42			39,807		53.42
	$60.01 - $70.00	109,626		3.75		64.54			107,812		64.59
	$70.01 - $75.82	56,181		6.13		74.87			56,181		74.87
	$11.58 - $75.82	247,093		3.53		$	59.71		245,279		$	59.7
Summary of the status of the non-vested restricted stock and stock unit awards	'
		Number of		Weighted Average
		Shares		Grant Date
				Fair Value
				($)
	Outstanding at March 31, 2013	28,109		$	66.2
	Granted	69,015		60.36
	Vested	(17,506	)	65.91
	Forfeited	(4,063	)	63.73
	Outstanding at December 31, 2013	75,555		$	61.07

INVENTORIES_Tables

INVENTORIES (Tables)	9 Months Ended
	Dec. 31, 2013
INVENTORIES	'
Schedule of components of inventories	'
	(In thousands)	December 31,		March 31,
		2013		2013
	Raw materials, completed sub-assemblies, and spare parts	$	16,823	$	21,450
	Work-in-process	28,945		21,129
	Finished goods	4,376		5,472
	Total	$	50,144	$	48,051

INCOME_PER_COMMON_AND_COMMON_E1

INCOME PER COMMON AND COMMON EQUIVALENT SHARE (Tables)	9 Months Ended
	Dec. 31, 2013
INCOME PER COMMON AND COMMON EQUIVALENT SHARE	'
Schedule of calculation of basic and diluted earnings per share	'
		Three Months Ended					Nine Months Ended
	(In thousands except per share amounts)	December 31,			December 31,		December 31,			December 31,
		2013			2012		2013			2012
	Income Per Share
	Basic:
	Net income	$	1,558		$	6,093	$	11,162		$	16,694
	Less: Distributed and undistributed earnings to unvested restricted stock units	(12		)	—		(24		)	—
	Distributed and undistributed earnings to common shareholders — Basic	1,546			$	6,093	11,138			$	16,694
	Weighted average number of common shares outstanding — basic	7,850			8,247		7,837			8,488
	Net income per share — basic	$	0.2		$	0.74	$	1.42		$	1.97
	Diluted:
	Weighted average number of common shares outstanding— basic	7,850			8,247		7,837			8,488
	Add dilutive effect of potential common shares	39			60		36			54
	Weighted average number of common and potential common shares outstanding — diluted	7,889			8,307		7,873			8,542
	Net income per share — diluted	$	0.2		$	0.73	$	1.41		$	1.95

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Dec. 31, 2013
FAIR VALUE MEASUREMENTS	'
Schedule of financial assets measured at fair value on recurring basis, based on the fair value hierarchy	'
	(In thousands)	December 31,		March 31,
		2013		2013
	Level 1 — Financial Assets
	Money market funds	$	39,414	$	16,549
	Total Level 1 Financial Assets	39,414		16,549
	Level 2 — Financial Assets
	Corporate debentures/bonds	35,709		75,572
	Government agency bonds	21,313		—
	Treasury bills	17,712		—
	Commercial paper	7,694		28,974
	Certificates of deposit	4,000		4,000
	Total Level 2 Financial Assets	86,428		108,546
	Total cash equivalents and short-term investments	$	125,842	$	125,095
Schedule of available-for-sale securities	'
	(In thousands)	Amortized		Gross		Gross			Fair Value
		Cost		Unrealized		Unrealized
				Gains		Losses
	December 31, 2013:
	Short-term investments:
	Corporate debentures/bonds	$	35,695	$	19	$	(5	)	$	35,709
	Government agency bonds	21,311		3		(1		)	21,313
	Treasury bills	17,710		5		(3		)	17,712
	Commercial paper	7,694		—		—			7,694
	Certificates of deposit	4,000		—		—			4,000
	Total short-term investments	$	86,410	$	27	$	(9	)	$	86,428
	Cash equivalents:
	Money market funds	39,414		—		—			39,414
	Total cash equivalents	$	39,414	$	—	$	—		$	39,414
	(In thousands)	Amortized		Gross		Gross			Fair Value
		Cost		Unrealized		Unrealized
				Gains		Losses
	March 31, 2013:
	Short-term investments:
	Corporate debentures/bonds	$	75,578	$	14	$	(20	)	$	75,572
	Commercial paper	28,974		—		—			28,974
	Certificates of deposit	4,000		—		—			4,000
	Total short-term investments	$	108,552	$	14	$	(20	)	$	108,546
	Cash equivalents:
	Money market funds	16,549		—		—			16,549
	Total cash equivalents	$	16,549	$	—	$	—		$	16,549

GUARANTEES_Tables

GUARANTEES (Tables)	9 Months Ended
	Dec. 31, 2013
GUARANTEES	'
Schedule of warranty experience	'
		Three Months Ended						Nine Months Ended
	(In thousands)	December 31,			December 31,			December 31,			December 31,
		2013			2012			2013			2012
	Warranty accrual - beginning of period	$	345		$	375		$	397		$	358
	Accruals for warranties issued during the period	182			160			410			436
	Adjustment of preexisting accrual estimates	—			6			(66		)	148
	Warranty costs incurred during the period	(101		)	(133		)	(315		)	(534		)
	Warranty accrual — end of period	$	426		$	408		$	426		$	408

GENERAL_Details

GENERAL (Details) (USD $)	3 Months Ended		9 Months Ended		0 Months Ended		9 Months Ended	0 Months Ended	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Feb. 05, 2014	Aug. 02, 2012	Dec. 31, 2013	7-May-13	Dec. 31, 2013
			Segment		Subsequent Event	Fourth Stock Repurchase Program	Fourth Stock Repurchase Program	Fifth Stock Repurchase Program	Fifth Stock Repurchase Program
Nature of Operations	'	'	'	'	'	'	'	'	'
Number of reporting segments	'	'	1	'	'	'	'	'	'
Stock Repurchase Program	'	'	'	'	'	'	'	'	'
Authorized amount of repurchase of common stock	'	'	'	'	'	$35,000,000	'	$35,000,000	'
Number of shares repurchased under the stock repurchase program	'	'	'	'	'	'	'	'	0
Maximum dollar value of shares that may still be purchased under stock repurchase program	'	'	'	'	'	'	$35,000,000	'	'
Dividends	'	'	'	'	'	'	'	'	'
Dividends declared (in dollars per share)	$0.50	$0.50	$1.50	$1.50	$0.50	'	'	'	'
Dividends paid (in dollars per share)	$0.50	$0.50	$1.50	$1.50	'	'	'	'	'

ACCOUNTING_FOR_STOCKBASED_COMP2

ACCOUNTING FOR STOCK-BASED COMPENSATION (Details) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Stock-based compensation cost	'	'	'	'
Share-based compensation expense (credits) before tax	$886,000	$19,000	$1,527,000	($85,000)
Income tax (expense) benefit recognized related to the compensation costs (credits)	297,000	6,000	512,000	-29,000
Cost of revenues	'	'	'	'
Stock-based compensation cost	'	'	'	'
Share-based compensation expense (credits) before tax	329,000	-26,000	546,000	118,000
Selling, general and administrative	'	'	'	'
Stock-based compensation cost	'	'	'	'
Share-based compensation expense (credits) before tax	$557,000	$45,000	$981,000	($203,000)

ACCOUNTING_FOR_STOCKBASED_COMP3

ACCOUNTING FOR STOCK-BASED COMPENSATION (Details 2) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2013
Stock Option and Other Compensation Plans	'	'	'	'	'
Number of shares authorized for issuance to equity awards under the plans	3,480,000	'	3,480,000	'	'
Minimum	'	'	'	'	'
Stock Option and Other Compensation Plans	'	'	'	'	'
Vesting period for awards granted under the plans	'	'	'1 year	'	'
Maximum	'	'	'	'	'
Stock Option and Other Compensation Plans	'	'	'	'	'
Vesting period for awards granted under the plans	'	'	'3 years	'	'
Stock options	'	'	'	'	'
Stock Option and Other Compensation Plans	'	'	'	'	'
Term of awards from the date of grant	'	'	'10 years	'	'
Number of Shares	'	'	'	'	'
Options outstanding at the beginning of the period (in shares)	'	'	315,162	'	'
Grants (in shares)	0	0	0	0	'
Exercises (in shares)	'	'	-62,724	'	'
Cancellations (in shares)	'	'	-5,345	'	'
Options outstanding at the end of the period (in shares)	247,093	'	247,093	'	315,162
Options exercisable at the end of the period (in shares)	245,279	'	245,279	'	'
Weighted Average Exercise Price	'	'	'	'	'
Options outstanding at the beginning of the period (in dollars per share)	'	'	$56.72	'	'
Exercises (in dollars per share)	'	'	$46.05	'	'
Cancellations (in dollars per share)	'	'	$43.66	'	'
Options outstanding at the end of the period (in dollars per share)	$59.71	'	$59.71	'	$56.72
Options exercisable at the end of the period (in dollars per share)	$59.70	'	$59.70	'	'
Weighted Average Contractual Life	'	'	'	'	'
Options outstanding at the end of the period	'	'	'3 years 6 months 11 days	'	'4 years 29 days
Aggregate Intrinsic Value	'	'	'	'	'
Exercises (in dollars)	'	'	$1,060,000	'	'
Remaining unrecognized compensation cost (in dollars)	$0	'	$0	'	'

ACCOUNTING_FOR_STOCKBASED_COMP4

ACCOUNTING FOR STOCK-BASED COMPENSATION (Details 3) (USD $)	9 Months Ended
	Dec. 31, 2013
$11.58 - $20.00	'
Information related to the stock options outstanding	'
Exercise price, low end of range (in dollars per share)	$11.58
Exercise price, high end of range (in dollars per share)	$20
Number of Shares	10,750
Weighted-Average Remaining Contractual Life	'3 months 25 days
Weighted-Average Exercise Price (in dollars per share)	$15.80
Exercisable Number of Shares	10,750
Exercisable Weighted-Average Exercise Price (in dollars per share)	$15.80
$20.01 - $30.00	'
Information related to the stock options outstanding	'
Exercise price, low end of range (in dollars per share)	$20.01
Exercise price, high end of range (in dollars per share)	$30
Number of Shares	10,900
Weighted-Average Remaining Contractual Life	'8 months 12 days
Weighted-Average Exercise Price (in dollars per share)	$28.50
Exercisable Number of Shares	10,900
Exercisable Weighted-Average Exercise Price (in dollars per share)	$28.50
$30.01 - $40.00	'
Information related to the stock options outstanding	'
Exercise price, low end of range (in dollars per share)	$30.01
Exercise price, high end of range (in dollars per share)	$40
Number of Shares	8,629
Weighted-Average Remaining Contractual Life	'11 months 1 day
Weighted-Average Exercise Price (in dollars per share)	$39.06
Exercisable Number of Shares	8,629
Exercisable Weighted-Average Exercise Price (in dollars per share)	$39.06
$40.01 - $50.00	'
Information related to the stock options outstanding	'
Exercise price, low end of range (in dollars per share)	$40.01
Exercise price, high end of range (in dollars per share)	$50
Number of Shares	11,200
Weighted-Average Remaining Contractual Life	'1 year 10 months 28 days
Weighted-Average Exercise Price (in dollars per share)	$47.16
Exercisable Number of Shares	11,200
Exercisable Weighted-Average Exercise Price (in dollars per share)	$47.16
$50.01 - $60.00	'
Information related to the stock options outstanding	'
Exercise price, low end of range (in dollars per share)	$50.01
Exercise price, high end of range (in dollars per share)	$60
Number of Shares	39,807
Weighted-Average Remaining Contractual Life	'1 year 11 months 5 days
Weighted-Average Exercise Price (in dollars per share)	$53.42
Exercisable Number of Shares	39,807
Exercisable Weighted-Average Exercise Price (in dollars per share)	$53.42
$60.01 - $70.00	'
Information related to the stock options outstanding	'
Exercise price, low end of range (in dollars per share)	$60.01
Exercise price, high end of range (in dollars per share)	$70
Number of Shares	109,626
Weighted-Average Remaining Contractual Life	'3 years 9 months
Weighted-Average Exercise Price (in dollars per share)	$64.54
Exercisable Number of Shares	107,812
Exercisable Weighted-Average Exercise Price (in dollars per share)	$64.59
$70.01 - $75.82	'
Information related to the stock options outstanding	'
Exercise price, low end of range (in dollars per share)	$70.01
Exercise price, high end of range (in dollars per share)	$75.82
Number of Shares	56,181
Weighted-Average Remaining Contractual Life	'6 years 1 month 17 days
Weighted-Average Exercise Price (in dollars per share)	$74.87
Exercisable Number of Shares	56,181
Exercisable Weighted-Average Exercise Price (in dollars per share)	$74.87
$11.58 - $75.82	'
Information related to the stock options outstanding	'
Exercise price, low end of range (in dollars per share)	$11.58
Exercise price, high end of range (in dollars per share)	$75.82
Number of Shares	247,093
Weighted-Average Remaining Contractual Life	'3 years 6 months 11 days
Weighted-Average Exercise Price (in dollars per share)	$59.71
Exercisable Number of Shares	245,279
Exercisable Weighted-Average Exercise Price (in dollars per share)	$59.70

ACCOUNTING_FOR_STOCKBASED_COMP5

ACCOUNTING FOR STOCK-BASED COMPENSATION (Details 4) (USD $)	9 Months Ended
	Dec. 31, 2013
Minimum	'
Accounting for stock-based compensation	'
Vesting period for awards granted under the plans	'1 year
Maximum	'
Accounting for stock-based compensation	'
Vesting period for awards granted under the plans	'3 years
Restricted Stock and Restricted Stock Units	'
Accounting for stock-based compensation	'
Unrecognized compensation costs (in dollars)	3,284,000
Expected period to recognize unrecognized compensation costs	'1 year 1 month 6 days
Number of Shares	'
Outstanding at the beginning of the period (in shares)	28,109
Granted (in shares)	69,015
Vested (in shares)	-17,506
Forfeited (in shares)	-4,063
Outstanding at the end of the period (in shares)	75,555
Weighted Average Grant Date Fair Value	'
Outstanding at the beginning of the period (in dollars per share)	66.2
Granted (in dollars per share)	60.36
Vested (in dollars per share)	65.91
Forfeited (in dollars per share)	63.73
Outstanding at the end of the period (in dollars per share)	61.07
Restricted Stock and Restricted Stock Units | Employees | Minimum	'
Accounting for stock-based compensation	'
Vesting period for awards granted under the plans	'1 year
Restricted Stock and Restricted Stock Units | Employees | Maximum	'
Accounting for stock-based compensation	'
Vesting period for awards granted under the plans	'3 years
Restricted Stock | Non-employee directors	'
Accounting for stock-based compensation	'
Vesting period for awards granted under the plans	'1 year

INVENTORIES_Details

INVENTORIES (Details) (USD $)	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
INVENTORIES	'	'
Raw materials, completed sub-assemblies, and spare parts	$16,823	$21,450
Work-in-process	28,945	21,129
Finished goods	4,376	5,472
Total	$50,144	$48,051

INCOME_PER_COMMON_AND_COMMON_E2

INCOME PER COMMON AND COMMON EQUIVALENT SHARE (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
INCOME PER COMMON AND COMMON EQUIVALENT SHARE	'	'	'	'
Common stock equivalents excluded from diluted earnings per share as their effect is anti-dilutive (in shares)	83,000	108,000	159,000	197,000
Income Per Share - Basic:	'	'	'	'
Net income	$1,558	$6,093	$11,162	$16,694
Less: Distributed and undistributed earnings to unvested restricted stock units	-12	'	-24	'
Distributed and undistributed earnings to common shareholders - Basic	$1,546	$6,093	$11,138	$16,694
Weighted average number of common shares outstanding - basic (in shares)	7,850,000	8,247,000	7,837,000	8,488,000
Net income per share - basic (in dollars per share)	$0.20	$0.74	$1.42	$1.97
Income Per Share - Diluted:	'	'	'	'
Weighted average number of common shares outstanding - basic (in shares)	7,850,000	8,247,000	7,837,000	8,488,000
Add dilutive effect of potential common shares (in shares)	39,000	60,000	36,000	54,000
Weighted average number of common and potential common shares outstanding - diluted (in shares)	7,889,000	8,307,000	7,873,000	8,542,000
Net income per share - diluted (in dollars per share)	$0.20	$0.73	$1.41	$1.95

LETTERS_OF_CREDIT_Details

LETTERS OF CREDIT (Details) (USD $)	Dec. 31, 2013	Mar. 31, 2013
Credit facilities	'	'
Restricted cash and investment balance	$15,150,000	'
Long-term restricted cash and investment, as determined by the expiration date of the underlying letters of credit	397,000	899,000
Standby letters of credit	'	'
Credit facilities	'	'
Outstanding Amount	$28,505,000	'
Standby letters of credit | Minimum	'	'
Credit facilities	'	'
Percentage of outstanding amount that is cash secured	52.00%	'
Standby letters of credit | Maximum	'	'
Credit facilities	'	'
Percentage of outstanding amount that is cash secured	75.00%	'

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS (Details) (Recurring basis, USD $)	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Level 1	'	'
Financial Assets	'	'
Total cash equivalents and short-term investments	$39,414	$16,549
Level 1 | Money market funds	'	'
Financial Assets	'	'
Total cash equivalents and short-term investments	39,414	16,549
Level 2	'	'
Financial Assets	'	'
Total cash equivalents and short-term investments	86,428	108,546
Level 2 | Corporate debentures/bonds	'	'
Financial Assets	'	'
Total cash equivalents and short-term investments	35,709	75,572
Level 2 | Government agency bonds	'	'
Financial Assets	'	'
Total cash equivalents and short-term investments	21,313	'
Level 2 | Commercial paper	'	'
Financial Assets	'	'
Total cash equivalents and short-term investments	7,694	28,974
Level 2 | Treasury bills	'	'
Financial Assets	'	'
Total cash equivalents and short-term investments	17,712	'
Level 2 | Certificates of deposit	'	'
Financial Assets	'	'
Total cash equivalents and short-term investments	4,000	4,000
Total fair value	'	'
Financial Assets	'	'
Total cash equivalents and short-term investments	$125,842	$125,095

FAIR_VALUE_MEASUREMENTS_Detail1

FAIR VALUE MEASUREMENTS (Details 2) (USD $)

9 Months Ended

In Thousands, unless otherwise specified

Dec. 31, 2013

Dec. 31, 2013

Mar. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2013

Maximum

Short-term investments

Short-term investments

Short-term investments

Short-term investments

Short-term investments

Short-term investments

Short-term investments

Short-term investments

Short-term investments

Short-term investments

Cash equivalents

Cash equivalents

Cash equivalents

Cash equivalents

Treasury bills

Certificates of deposit

Certificates of deposit

Corporate debentures/bonds

Corporate debentures/bonds

Government agency bonds

Commercial paper

Commercial paper

Money market funds

Money market funds

Available-for-sale securities

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Contractual maturity period

'21 months

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amortized Cost

'

$86,410

$108,552

$17,710

$4,000

$4,000

$35,695

$75,578

$21,311

$7,694

$28,974

$39,414

$16,549

$39,414

$16,549

Gross Unrealized Gains

'

27

14

5

'

'

19

14

3

'

'

'

'

'

'

Gross Unrealized Losses

'

-9

-20

-3

'

'

-5

-20

-1

'

'

'

'

'

'

Fair Value

'

$86,428

$108,546

$17,712

$4,000

$4,000

$35,709

$75,572

$21,313

$7,694

$28,974

$39,414

$16,549

$39,414

$16,549

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	9 Months Ended
	Dec. 31, 2013	Apr. 30, 2013
INCOME TAXES	'	'
Number of years of cumulative income based upon which valuation allowance is evaluated	'3 years	'
Proceeds received related to settlement with Massachusetts Department of Revenue	'	$1,500,000

GUARANTEES_Details

GUARANTEES (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
GUARANTEES	'	'	'	'
Warranty period for certain products	'	'	'1 year	'
Historical experience trailing period based on how product warranty accrual rates are determined	'	'	'12 months	'
Warranty Experience	'	'	'	'
Warranty accrual - beginning of period	$345	$375	$397	$358
Accruals for warranties issued during the period	182	160	410	436
Adjustment of preexisting accrual estimates	'	6	-66	148
Warranty costs incurred during the period	-101	-133	-315	-534
Warranty accrual - end of period	$426	$408	$426	$408

LEASE_COMMITMENTS_Details

LEASE COMMITMENTS (Details) (USD $)	1 Months Ended
	Jan. 31, 2007
LEASE COMMITMENTS	'
Amount capitalized	$7,182,000
Landlord construction allowances recorded as additional lease financing liability	$6,009,000

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details)	9 Months Ended
	Dec. 31, 2013
COMMITMENTS AND CONTINGENCIES.	'
Minimum period covered under extended warranty and service contracts	'1 year
Maximum period covered under extended warranty and service contracts	'5 years