Uroplasty (UPI) Inactive 10-Q7 Nov 132014 Q2 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
Document and Entity Information	Sep. 30, 2013	Oct. 24, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'UROPLASTY INC	'
Entity Central Index Key	'0000890846	'
Current Fiscal Year End Date	'--03-31	'
Entity Well-known Seasoned Issuer	'No	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	21,517,390
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Sep. 30, 2013	Mar. 31, 2013
Current assets:	'	'
Cash and cash equivalents	$7,091,758	$3,533,864
Short-term investments	5,445,063	7,936,605
Accounts receivable, net	2,400,531	2,553,447
Inventories	625,102	718,933
Other	442,351	566,536
Total current assets	16,004,805	15,309,385
Property, plant, and equipment, net	1,108,079	1,033,085
Intangible assets, net	127,328	100,502
Long-term investments	0	3,451,711
Deferred tax assets	148,900	146,052
Total assets	17,389,112	20,040,735
Current liabilities:	'	'
Accounts payable	673,500	618,916
Current portion - deferred rent	21,615	35,000
Income tax payable	6,123	7,729
Accrued liabilities:	'	'
Compensation	1,507,596	1,550,846
Other	406,549	476,287
Total current liabilities	2,615,383	2,688,778
Deferred rent	0	5,141
Accrued pension liability	557,495	660,580
Total liabilities	3,172,878	3,354,499
Commitments and Contingencies	'	'
Shareholders' equity:	'	'
Common stock $.01 par value; 40,000,000 shares authorized, 21,467,390 and 21,005,582 shares issued and outstanding at September 30, 2013 and March 31, 2013, respectively	214,674	210,056
Additional paid-in capital	56,851,809	55,866,338
Accumulated deficit	-42,357,753	-38,820,981
Accumulated other comprehensive net loss	-492,496	-569,177
Total shareholders' equity	14,216,234	16,686,236
Total liabilities and shareholders' equity	$17,389,112	$20,040,735

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $)	Sep. 30, 2013	Mar. 31, 2013
Shareholders' equity	'	'
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	21,467,390	21,005,582
Common stock, shares outstanding (in shares)	21,467,390	21,005,582

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) [Abstract]	'	'	'	'
Net sales	$5,976,875	$5,709,840	$11,817,716	$11,286,963
Cost of goods sold	741,842	774,963	1,489,889	1,530,550
Gross profit	5,235,033	4,934,877	10,327,827	9,756,413
Operating expenses	'	'	'	'
General and administrative	2,390,610	1,027,835	3,971,373	2,119,681
Research and development	428,763	598,933	908,423	1,161,974
Selling and marketing	4,323,084	3,734,042	8,950,493	7,698,877
Amortization	7,826	215,681	14,474	431,290
Total operating expenses	7,150,283	5,576,491	13,844,763	11,411,822
Operating loss	-1,915,250	-641,614	-3,516,936	-1,655,409
Other income (expense)	'	'	'	'
Interest income	5,476	10,931	14,740	23,509
Foreign currency exchange gain (loss)	-1,339	5,794	-4,034	-3,877
Total other income (expense)	4,137	16,725	10,706	19,632
Loss before income taxes	-1,911,113	-624,889	-3,506,230	-1,635,777
Income tax expense	16,367	14,637	30,542	23,104
Net loss	($1,927,480)	($639,526)	($3,536,772)	($1,658,881)
Basic and diluted net loss per common share (in dollars per share)	($0.09)	($0.03)	($0.17)	($0.08)
Weighted average common shares outstanding:	'	'	'	'
Basic and diluted (in shares)	21,076,570	20,763,345	20,921,693	20,753,368

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) [Abstract]	'	'	'	'
Net loss	($1,927,480)	($639,526)	($3,536,772)	($1,658,881)
Other comprehensive income (loss), net of tax:	'	'	'	'
Foreign currency translation adjustments	72,811	36,466	93,419	-44,633
Unrealized gain on available-for-sale investments	2,657	2,941	2,817	2,151
Pension adjustments	-15,923	-7,116	-19,555	-465
Total other comprehensive income (loss), net of tax	59,545	32,291	76,681	-42,947
Comprehensive net loss	($1,867,935)	($607,235)	($3,460,091)	($1,701,828)

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Total
Balance at Mar. 31, 2013	$210,056	$55,866,338	($38,820,981)	($569,177)	$16,686,236
Balance (in shares) at Mar. 31, 2013	21,005,582	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'
Share-based consulting and compensation	3,317	917,412	0	0	920,729
Share-based consulting and compensation (in shares)	331,676	'	'	'	'
Proceeds from exercise of stock options, net of shares exchanged	1,301	68,059	0	0	69,360
Proceeds from exercise of stock options, net of shares exchanged (in shares)	130,132	'	'	'	'
Comprehensive net loss	0	0	-3,536,772	76,681	-3,460,091
Balance at Sep. 30, 2013	$214,674	$56,851,809	($42,357,753)	($492,496)	$14,216,234
Balance (in shares) at Sep. 30, 2013	21,467,390	'	'	'	'

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Cash flows from operating activities:	'	'
Net loss	($3,536,772)	($1,658,881)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation and amortization	179,123	576,665
(Gain) loss on disposal of equipment	-5,000	2,797
Amortization of premium on marketable securities	6,070	26,716
Share-based consulting expense	0	1,623
Share-based compensation expense	920,729	353,060
Deferred income tax expense	4,979	2,860
Deferred rent	-18,526	-18,374
Changes in operating assets and liabilities:	'	'
Accounts receivable, net	197,216	100,537
Inventories	97,787	-175,833
Other current assets	127,104	-102,998
Accounts payable	51,232	26,516
Accrued compensation	-51,129	-68,162
Accrued liabilities, other	-78,619	78,202
Accrued pension liability, net	-137,089	-36,401
Net cash used in operating activities	-2,242,895	-891,673
Cash flows from investing activities:	'	'
Proceeds from maturity of available-for-sale investments	2,000,000	2,000,000
Proceeds from maturity of held-to-maturity investments	3,940,000	3,800,000
Purchases of available-for-sale investments	0	-3,218,286
Purchases of held-to-maturity investments	0	-1,780,000
Purchases of property, plant and equipment	-208,768	-93,981
Proceeds from sale of property, plant and equipment	6,773	7,276
Payments for intangible assets	-41,300	-4,440
Net cash provided by investing activities	5,696,705	710,569
Cash flows from financing activities:	'	'
Proceeds from exercise of options	69,360	150,000
Net cash provided by financing activities	69,360	150,000
Effect of exchange rate changes on cash and cash equivalents	34,724	-10,580
Net increase (decrease) in cash and cash equivalents	3,557,894	-41,684
Cash and cash equivalents at beginning of period	3,533,864	4,653,226
Cash and cash equivalents at end of period	7,091,758	4,611,542
Cash paid during the period for income taxes	$25,334	$35,507

Basis_of_Presentation

Basis of Presentation	6 Months Ended
Basis of Presentation	Sep. 30, 2013
Basis of Presentation [Abstract]	'
Basis of Presentation	'
	1. Basis of Presentation

	We have prepared our Condensed Consolidated Financial Statements included in this Form 10-Q, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted, pursuant to such rules and regulations, although we believe that our disclosures are adequate to make the information not misleading. The consolidated results of operations for any interim period are not necessarily indicative of results for a full year. These Condensed Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended March 31, 2013 as amended by Form 10-K/A.

	The Condensed Consolidated Financial Statements presented herein as of September 30, 2013 and for the three- and six-month periods ended September 30, 2013 and 2012 reflect, in the opinion of management, all material adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the consolidated financial position, results of operations and cash flows for the interim periods.

	All amounts included in the Notes to Consolidated Condensed Financial Statements are in thousands, except for share and per share data, and as specified otherwise.

Newly_Adopted_Accounting_Prono

Newly Adopted Accounting Pronouncements	6 Months Ended
Newly Adopted Accounting Pronouncements	Sep. 30, 2013
Newly Adopted Accounting Pronouncements [Abstract]	'
Newly Adopted Accounting Pronouncements	'
	2. Newly Adopted Accounting Pronouncements

	In February 2013, the FASB issued Accounting Standards Update (“ASU”) No. 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” ASU 2013-02 requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under GAAP that provide additional detail about those amounts. The guidance is effective for annual and interim periods beginning after December 15, 2012. The Company adopted ASU 2013-02 effective April 1, 2013 and its adoption did not have a material impact on the Company’s financial position, results of operations or liquidity.

	In July 2013, the FASB issues ASU No. 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” ASU No. 2013-11 provides financial statement presentation guidance on whether an unrecognized tax benefit must be presented as either a reduction to a deferred tax asset or separately as a liability. ASU No. 2013-11 will be effective for fiscal years and interim periods within those years, beginning after December 15, 2013. We do not believe the adoption of this update will have a material impact on our financial statements.

Fair_Value_Measurements

Fair Value Measurements

6 Months Ended

Sep. 30, 2013

Fair Value Measurements [Abstract]

Fair Value Measurements

3. Fair Value Measurements

Estimates of fair value for financial assets and liabilities are based on the framework established in the accounting guidance for fair value measurements. The framework defines fair value, provides guidance for measuring fair value and requires certain disclosures. The framework prioritizes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The following three broad levels of inputs may be used to measure fair value under the fair value hierarchy:

Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

Level 3: Significant unobservable inputs that cannot be corroborated by observable market data and reflect the use of significant management judgment. These values are generally determined using pricing models for which the assumptions utilize management's estimates of market participant assumptions.

If the inputs used to measure the financial assets and liabilities fall within more than one of the different levels described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.

The following table provides the assets carried at fair value measured on a recurring basis.

Asset Class

Fair Value

Quoted Prices

Significant

Significant Unobservable Inputs

in Active

Other

(Level 3)

Markets for Identical

Observable

Assets

Inputs

(Level 1)

(Level 2)

30-Sep-13

Short-term investments:

U.S. Government and Agency debt securities

5,205

Long-term investments:

U.S. Government and Agency debt securities

31-Mar-13

Short-term investments:

U.S. Government and Agency debt securities

3,757

Long-term investments:

U.S. Government and Agency debt securities

3,452

Our U.S. Government and U.S. Government Agency debt securities consist of bonds, notes and treasury bills with risk ratings of AAA/Aaa. The estimated fair value of these securities represents valuations provided by external investment managers.

The carrying amounts reported in the Condensed Consolidated Balance Sheets for short-term and long-term investments include certificates of deposit of $240 and $4,180 at September 30, 2013 and March 31, 2013, respectively, for which, due to the negligible risk of changes in value resulting from changes in interest rates and the short-term nature of these investments, cost approximates fair market value.

The carrying amounts reported in the Condensed Consolidated Balance Sheets for cash and cash equivalents, accounts receivable, inventories, other current assets, accounts payable and accrued liabilities approximate fair market value.

Accounts_Receivable

Accounts Receivable	6 Months Ended
Accounts Receivable	Sep. 30, 2013
Accounts Receivable [Abstract]	'
Accounts Receivable	'
	4. Accounts Receivable

	The allowance for doubtful accounts was $70 at September 30, 2013 and $87 at March 31, 2013.

Inventories

Inventories	6 Months Ended
Inventories	Sep. 30, 2013
Inventories [Abstract]	'
Inventories	'
	5. Inventories

	Inventories are stated at the lower of cost (first-in, first-out method) or market (net realizable value). Inventories consist of the following:

		30-Sep-13		31-Mar-13

	Raw materials	$	144	$	219
	Work-in-process		32		21
	Finished goods		449		479

		$	625	$	719

Net_Loss_per_Common_Share

Net Loss per Common Share	6 Months Ended
	Sep. 30, 2013
Net Loss per Common Share [Abstract]	'
Net Loss per Common Share	'
	6. Net Loss per Common Share

	The following potentially dilutive options to purchase shares of common stock and unvested restricted common stock at September 30 were excluded from diluted net loss per common share because of their anti-dilutive effect, and therefore, basic net loss per common share equals dilutive net loss per common share for all periods presented in our Consolidated Statements of Operations:

		Number of options and unvested restricted stock		Range of stock option exercise prices

	30-Sep-13		1,802,564		$0.77 to $3.25
	30-Sep-12		1,277,235		$0.77 to $3.76

Sharebased_Compensation

Share-based Compensation	6 Months Ended
Share-based Compensation	Sep. 30, 2013
Share-based Compensation [Abstract]	'
Share-based Compensation	'
	7. Share-based Compensation

	As of September 30, 2013, we had one active plan for share-based compensation grants. Under the plan, if we have a change in control, all outstanding grants, including those subject to vesting or other performance targets, fully vest immediately. Under this plan, as of September 30, 2013 we had reserved 3,450,000 shares of our common stock for share-based grants, which includes an additional 750,000 shares as approved by the shareholders at our annual meeting on September 12, 2013. As of September 30, 2013, we had 834,467 shares remaining that were available for grant.

	On July 23, 2013, and in connection with the commencement of his employment, our new CEO received a stock grant of 300,000 shares under the 2006 Stock and Incentive Plan that did not carry vesting restrictions.

	We recognize share-based compensation expense in the statement of operations based on the fair value of the share-based payment over the requisite service period. We incurred approximately $921and $355 in share-based compensation and consulting expense for the six months ended September 30, 2013 and 2012 (inclusive of $2 in 2012 for option grants to consultants), respectively.

	As of September 30, 2013, we had approximately $2,137 of unrecognized share-based compensation expense, net of estimated forfeitures, related to stock options and restricted shares that we expect to recognize over a weighted-average period of approximately 2.6 years.

	Options. We grant option awards with an exercise price equal to the closing market price of our stock at the date of the grant. Options granted under this plan generally expire over a period ranging from five to seven years from date of grant and vest at varying rates ranging up to three years.

	We determined the fair value of our option awards using the Black-Scholes option pricing model. We used the following weighted-average assumptions to value the options granted during the six months ended September 30:

		2013			2012

	Expected life in years		4.51			5.59
	Risk-free interest rate		1.35	%		0.95	%
	Expected volatility		89.43	%		91.16	%
	Expected dividend yield		0	%		0	%
	Weighted-average grant date fair value	$	1.65		$	2.61









	The expected life selected for options granted during the six-months represents the period of time that we expect our options to be outstanding based on management’s expectation of option holder exercise and termination behavior for similar grants. The risk-free interest rate for periods within the contractual life of the option is based on the U.S. Treasury rate over the expected life at the time of grant. Expected volatilities are based upon historical volatility of our stock. We estimate an average forfeiture rate for stock awards of 6.3% based on our historical experience.

	The following table summarizes the activity related to our stock options during the six months ended September 30, 2013:

		Number of			Weighted			Weighted		Aggregate intrinsic
		shares			average			average		value
					exercise			remaining
					price			life in years

	Outstanding at March 31, 2013		2,015,889		$	3.51			2.64	$	598
	Options granted		855,125			2.47
	Options exercised		(130,132	)		0.88
	Options surrendered		(260,199	)		3.76

	Outstanding at September 30, 2013		2,480,683		$	3.26			3.91		1,657

	Exercisable at September 30, 2013		1,455,279		$	3.69			1.98		859

	The total fair value of stock options that vested during the six months ended September 30, 2013 and 2012 was $315 and $386, respectively.

	Restricted Stock. Our 2006 Stock and Incentive Plan also permit our Compensation Committee to grant other stock-based benefits, including restricted shares. Restricted shares are subject to risk of forfeiture for termination of employment. The forfeiture risk generally lapses over a period of three to four years.

	The following table summarizes the activity related to our restricted shares during the six months ended September 30, 2013:

		Number of			Weighted			Weighted		Aggregate intrinsic
		Shares			average			average		value
					grant date			remaining
					fair value			life in years
	Balance at March 31, 2013		180,085		$	4.39			1.5	$	790
	Shares granted		121,750			3.06
	Shares vested		(29,197	)		4.71
	Shares forfeited		(90,074	)		4.38

Balance at September 30, 2013		182,564			3.45			2.45		630

The aggregate intrinsic value shown above for the restricted shares represents the total pre-tax value based on the closing price of our Company’s common stock on the grant date.

Savings_and_Retirement_Plans

Savings and Retirement Plans	6 Months Ended
Savings and Retirement Plans	Sep. 30, 2013
Savings and Retirement Plans [Abstract]	'
Savings and Retirement Plans	'
	8. Savings and Retirement Plans

	We sponsor various retirement plans for eligible employees in the United States, the United Kingdom (UK), and The Netherlands. Our retirement savings plan in the United States conforms to Section 401(k) of the Internal Revenue Code and participation is available to substantially all employees. We may also make discretionary contributions ratably to all eligible employees. We made discretionary contributions to the U.S. plan of $113 and $121 for the six months ended September 30, 2013 and 2012, respectively.

	Our international subsidiaries have defined benefit retirement plans for eligible employees. These plans provide benefits based on the employee’s years of service and compensation during the years immediately preceding retirement, termination, disability, or death, as defined in the plans.

	The cost for our defined benefit retirement plans in The Netherlands and the United Kingdom includes the following components for the three- and six-month periods ended
	September 30:

		Three Months Ended						Six Months Ended
		30-Sep						30-Sep
		2013			2012			2013			2012

	Gross service cost	$	31		$	19		$	62		$	37
	Interest cost		34			30			69			61
	Expected return on assets		(20	)		(5	)		(40	)		(9	)
	Amortization		2			1			3			2
	Net periodic retirement cost	$	47		$	45		$	94		$	91

Business_Segment_Information

Business Segment Information	6 Months Ended
Business Segment Information	Sep. 30, 2013
Business Segment Information [Abstract]	'
Business Segment Information	'
	9. Business Segment Information

	We aggregate our operating segments into one reportable segment in accordance with the objectives and principles of the applicable guidance.

	Net sales to customers outside the United States for the three months ended September 30, 2013 and 2012 represented 25% and 26%, respectively, of our consolidated net sales. Net sales to customers outside the United States for the six months ended September 30, 2013 and 2012 represented 26% and 27%, respectively, of our consolidated net sales.

	Information regarding net sales to customers by geographic area for the three and six months ended September 30 is as follows:

			United		All Other		Consolidated
			States		Foreign
					Countries (1)

	Three months ended September 30, 2013		$	4,478	$	1,499	$	5,977

	Three months ended September 30, 2012		$	4,219	$	1,491	$	5,710

	Six months ended September 30, 2013		$	8,763	$	3,055	$	11,818

	Six months ended September 30, 2012		$	8,280	$	3,007	$	11,287

		-1	No country accounts for 10% or more of the consolidated net sales

	Information regarding geographic area in which we maintain long-lived assets is as follows:

			United		All Other		Consolidated
			States		Foreign
					Countries (1)

	30-Sep-13		$	487	$	621	$	1,108
	31-Mar-13		$	434	$	599	$	1,033

		-1	Substantially all maintained in The Netherlands
	Accounting policies of the operations in the various geographic areas are the same as those described in Note 1. Net sales attributed to each geographic area are net of intercompany sales. No single customer represents 10% or more of our consolidated net sales. Long-lived assets consist of property, plant and equipment.

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)

6 Months Ended

Sep. 30, 2013

Fair Value Measurements [Abstract]

Assets carried at fair value measured on a recurring basis

The following table provides the assets carried at fair value measured on a recurring basis.

Asset Class

Fair Value

Quoted Prices

Significant

Significant Unobservable Inputs

in Active

Other

(Level 3)

Markets for Identical

Observable

Assets

Inputs

(Level 1)

(Level 2)

30-Sep-13

Short-term investments:

U.S. Government and Agency debt securities

5,205

Long-term investments:

U.S. Government and Agency debt securities

31-Mar-13

Short-term investments:

U.S. Government and Agency debt securities

3,757

Long-term investments:

U.S. Government and Agency debt securities

3,452

Inventories_Tables

Inventories (Tables)	6 Months Ended
Inventories (Tables)	Sep. 30, 2013
Inventories [Abstract]	'
Inventories	'
	Inventories are stated at the lower of cost (first-in, first-out method) or market (net realizable value). Inventories consist of the following:

		30-Sep-13		31-Mar-13

	Raw materials	$	144	$	219
	Work-in-process		32		21
	Finished goods		449		479

		$	625	$	719

Net_Loss_per_Common_Share_Tabl

Net Loss per Common Share (Tables)	6 Months Ended
Net Loss per Common Share (Tables)	Sep. 30, 2013
Net Loss per Common Share [Abstract]	'
Anti-dilutive securities excluded from diluted loss per common share	'
	The following potentially dilutive options to purchase shares of common stock and unvested restricted common stock at September 30 were excluded from diluted net loss per common share because of their anti-dilutive effect, and therefore, basic net loss per common share equals dilutive net loss per common share for all periods presented in our Consolidated Statements of Operations:

		Number of options and unvested restricted stock		Range of stock option exercise prices

	30-Sep-13		1,802,564		$0.77 to $3.25
	30-Sep-12		1,277,235		$0.77 to $3.76

Sharebased_Compensation_Tables

Share-based Compensation (Tables)	6 Months Ended
Share-based Compensation (Tables)	Sep. 30, 2013
Share-based Compensation [Abstract]	'
Weighted-average assumptions used to value the options granted	'
	We determined the fair value of our option awards using the Black-Scholes option pricing model. We used the following weighted-average assumptions to value the options granted during the six months ended September 30:

		2013			2012

	Expected life in years		4.51			5.59
	Risk-free interest rate		1.35	%		0.95	%
	Expected volatility		89.43	%		91.16	%
	Expected dividend yield		0	%		0	%
	Weighted-average grant date fair value	$	1.65		$	2.61
Stock option activity	'
	The following table summarizes the activity related to our stock options during the six months ended September 30, 2013:

		Number of			Weighted			Weighted		Aggregate intrinsic
		shares			average			average		value
					exercise			remaining
					price			life in years

	Outstanding at March 31, 2013		2,015,889		$	3.51			2.64	$	598
	Options granted		855,125			2.47
	Options exercised		(130,132	)		0.88
	Options surrendered		(260,199	)		3.76

	Outstanding at September 30, 2013		2,480,683		$	3.26			3.91		1,657

	Exercisable at September 30, 2013		1,455,279		$	3.69			1.98		859
Restricted shares activity	'
	The following table summarizes the activity related to our restricted shares during the six months ended September 30, 2013:

		Number of			Weighted			Weighted		Aggregate intrinsic
		Shares			average			average		value
					grant date			remaining
					fair value			life in years
	Balance at March 31, 2013		180,085		$	4.39			1.5	$	790
	Shares granted		121,750			3.06
	Shares vested		(29,197	)		4.71
	Shares forfeited		(90,074	)		4.38

	Balance at September 30, 2013		182,564			3.45			2.45		630

Savings_and_Retirement_Plans_T

Savings and Retirement Plans (Tables)	6 Months Ended
Savings and Retirement Plans (Tables)	Sep. 30, 2013
Savings and Retirement Plans [Abstract]	'
Components of benefit costs for defined benefit retirement plans	'
	The cost for our defined benefit retirement plans in The Netherlands and the United Kingdom includes the following components for the three- and six-month periods ended
	September 30:

		Three Months Ended						Six Months Ended
		30-Sep						30-Sep
		2013			2012			2013			2012

	Gross service cost	$	31		$	19		$	62		$	37
	Interest cost		34			30			69			61
	Expected return on assets		(20	)		(5	)		(40	)		(9	)
	Amortization		2			1			3			2
	Net periodic retirement cost	$	47		$	45		$	94		$	91

Business_Segment_Information_T

Business Segment Information (Tables)	6 Months Ended
Business Segment Information (Tables)	Sep. 30, 2013
Business Segment Information [Abstract]	'
Sales to customers and long-lived assets by geographic area	'
	Information regarding net sales to customers by geographic area for the three and six months ended September 30 is as follows:

			United		All Other		Consolidated
			States		Foreign
					Countries (1)

	Three months ended September 30, 2013		$	4,478	$	1,499	$	5,977

	Three months ended September 30, 2012		$	4,219	$	1,491	$	5,710

	Six months ended September 30, 2013		$	8,763	$	3,055	$	11,818

	Six months ended September 30, 2012		$	8,280	$	3,007	$	11,287

		-1	No country accounts for 10% or more of the consolidated net sales

	Information regarding geographic area in which we maintain long-lived assets is as follows:

			United		All Other		Consolidated
			States		Foreign
					Countries (1)

	30-Sep-13		$	487	$	621	$	1,108
	31-Mar-13		$	434	$	599	$	1,033

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2013	Mar. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Certificates of Deposit	$240	$4,180
Fair Value, Measurements, Recurring [Member] \| Short-term Investments [Member] \| US Government and Agency debt securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
U.S. Government and Agency debt securities	5,205	3,757
Fair Value, Measurements, Recurring [Member] \| Long-term Investments [Member] \| US Government and Agency debt securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
U.S. Government and Agency debt securities	0	3,452
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| Short-term Investments [Member] \| US Government and Agency debt securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
U.S. Government and Agency debt securities	0	0
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| Long-term Investments [Member] \| US Government and Agency debt securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
U.S. Government and Agency debt securities	0	0
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| Short-term Investments [Member] \| US Government and Agency debt securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
U.S. Government and Agency debt securities	5,205	3,757
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| Long-term Investments [Member] \| US Government and Agency debt securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
U.S. Government and Agency debt securities	0	3,452
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| Short-term Investments [Member] \| US Government and Agency debt securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
U.S. Government and Agency debt securities	0	0
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| Long-term Investments [Member] \| US Government and Agency debt securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
U.S. Government and Agency debt securities	$0	$0

Accounts_Receivable_Details

Accounts Receivable (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2013	Mar. 31, 2013
Accounts Receivable [Abstract]	'	'
Allowance for doubtful accounts and sales returns	$70	$87

Inventories_Details

Inventories (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
Inventories [Abstract]	'	'
Raw materials	$144,000	$219,000
Work-in-process	32,000	21,000
Finished goods	449,000	479,000
Inventories	$625,102	$718,933

Net_Loss_per_Common_Share_Deta

Net Loss per Common Share (Details) (Options and Unvested Restricted Stock [Member], USD $)	6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Options and Unvested Restricted Stock [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Number of anti-dilutive shares excluded from computation of diluted loss per common share (in shares)	1,802,564	1,277,235
Range of exercise prices - lower range limit (in dollars per share)	$0.77	$0.77
Range of exercise prices - upper range limit (in dollars per share)	$3.25	$3.76

Sharebased_Compensation_Detail

Share-based Compensation (Details) (USD $)

6 Months Ended

12 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Mar. 31, 2013

Sep. 30, 2013

Sep. 30, 2012

Mar. 31, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Mar. 31, 2013

Jul. 23, 2013

Sep. 30, 2013

Minimum [Member]

Maximum [Member]

Stock Options [Member]

Restricted Stock [Member]

Stock Compensation Plan [Member]

2006 Amended Stock and Incentive Plan [Member]

Maximum [Member]

Consultants [Member]

New Chief Executive [Member]

Plan

Stock Options [Member]

Minimum [Member]

Maximum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of active plans for share-based compensation grants

Number of shares reserved for share-based grants (in shares)

3,450,000

Additional shares approved for share-based grants (in shares)

750,000

Stock grants (in shares)

21,467,390

21,005,582

300,000

Shares available for grant (in shares)

834,467

Term of share-based payment award (in years)

'5 years

'7 years

Vesting period

'3 years

Share-based compensation and consulting expense

$921,000

$355,000

$2,000

Weighted-average assumptions used to value the options granted [Abstract]

Expected life in years

'4 years 6 months 4 days

'5 years 7 months 2 days

Risk free interest rate (in hundredths)

1.35%

0.95%

Expected volatility (in hundredths)

89.43%

91.16%

Expected dividend yield (in hundredths)

0.00%

Weighted-average grant date fair value (in dollars per share)

$1.65

$2.61

Forfeiture rate (in hundredths)

6.30%

Stock options, number of shares [Roll Forward]

Outstanding, beginning of period (in shares)

2,015,889

Options granted (in shares)

855,125

Options exercised (in shares)

-130,132

Options surrendered (in shares)

-260,199

Outstanding, end of period (in shares)

2,480,683

2,015,889

Exercisable, end of period (in shares)

1,455,279

Stock options, weighted average exercise price [Roll Forward]

Outstanding, beginning of period (in dollars per share)

$3.51

Options granted (in dollars per share)

$2.47

Options exercised (in dollars per share)

$0.88

Options surrendered (in dollars per share)

$3.76

Outstanding, end of period (in dollars per share)

$3.26

$3.51

Exercisable, end of period (in dollars per share)

$3.69

Stock options, additional disclosures [Abstract]

Outstanding, aggregate intrinsic value, end of period

1,657

598

Exercisable, aggregate intrinsic value, end of period

859

Outstanding, weighted average remaining life in years

'3 years 10 months 28 days

'2 years 7 months 20 days

Exercisable, Weighted average remaining life in years

'1 year 11 months 23 days

Fair value of stock options vested

315,000

386,000

Forfeiture risk, expiration period

'3 years

'4 years

Restricted shares, number of shares [Roll Forward]

Balance, beginning of period (in shares)

180,085

Shares granted (in shares)

121,750

Shares vested (in shares)

-29,197

Shares forfeited (in shares)

-90,074

Balance, end of period (in shares)

182,564

180,085

Restricted shares, weighted average grant date fair value [Roll Forward]

Balance, beginning of period (in dollars per share)

$4.39

Shares granted (in dollars per share)

$3.06

Shares vested (in dollars per share)

$4.71

Shares forfeited (in dollars per share)

$4.38

Balance, end of period (in dollars per share)

$3.45

$4.39

Restricted shares, additional disclosures [Abstract]

Weighted average remaining life in years

'2 years 5 months 12 days

'1 year 6 months

Outstanding, Aggregate intrinsic value

630

790

Unrecognized share-based compensation expense

$2,137,000

Unrecognized compensation expense, weighted average period of recognition

'2 years 7 months 6 days

Savings_and_Retirement_Plans_D

Savings and Retirement Plans (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Savings and Retirement Plans [Abstract]	'	'	'	'
Employer discretionary contribution amount to U.S. plan	'	'	$113	$121
Defined Benefit Plans, Net Periodic Retirement Cost [Abstract]	'	'	'	'
Gross service cost	31	19	62	37
Interest cost	34	30	69	61
Expected return on assets	-20	-5	-40	-9
Amortization	2	1	3	2
Net periodic retirement cost	$47	$45	$94	$91

Business_Segment_Information_D

Business Segment Information (Details) (USD $)	3 Months Ended				6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012		Mar. 31, 2013
	Sep. 30, 2013		Sep. 30, 2012		Segment		Sep. 30, 2012		Mar. 31, 2013
Business Segment Information [Abstract]	'		'		'		'		'
Number of operating segments	'		'		1		'		'
Revenues from External Customers and Long-Lived Assets [Line Items]	'		'		'		'		'
Revenue by customer (in hundredths)	25.00%		26.00%		26.00%		27.00%		'
Revenues	$5,977		$5,710		$11,818		$11,287		'
Long-lived assets	1,108		'		1,108		'		1,033
United States [Member]	'		'		'		'		'
Revenues from External Customers and Long-Lived Assets [Line Items]	'		'		'		'		'
Revenues	4,478		4,219		8,763		8,280		'
Long-lived assets	487		'		487		'		434
All Other Foreign Countries [Member]	'		'		'		'		'
Revenues from External Customers and Long-Lived Assets [Line Items]	'		'		'		'		'
Revenues	1,499	[1]	1,491	[1]	3,055	[1]	3,007	[1]	'
Long-lived assets	$621	[2]	'		$621	[2]	'		$599	[2]

[1]	No country accounts for 10% or more of the consolidated net sales.
[2]	Substantially all maintained in The Netherlands.