Uroplasty (UPI) Inactive 10-Q6 Feb 142014 Q3 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
Document and Entity Information	Dec. 31, 2013	Feb. 04, 2014
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	'	21,635,890
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Dec-13	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Dec. 31, 2013	Mar. 31, 2013
Current assets:	'	'
Cash and cash equivalents	$8,164,251	$3,533,864
Short-term investments	4,452,234	7,936,605
Accounts receivable, net	2,534,929	2,553,447
Inventories	469,094	718,933
Other	554,412	566,536
Total current assets	16,174,920	15,309,385
Property, plant, and equipment, net	1,051,857	1,033,085
Intangible assets, net	119,455	100,502
Long-term investments	0	3,451,711
Deferred tax assets	153,347	146,052
Total assets	17,499,579	20,040,735
Current liabilities:	'	'
Accounts payable	645,170	618,916
Current portion - deferred rent	12,351	35,000
Income taxes payable	18,242	7,729
Accrued liabilities:	'	'
Compensation	1,836,589	1,550,846
Other	354,719	476,287
Total current liabilities	2,867,071	2,688,778
Deferred rent	0	5,141
Accrued pension liability	666,818	660,580
Total liabilities	3,533,889	3,354,499
Commitments and contingencies	'	'
Shareholders' equity:	'	'
Common stock $.01 par value; 40,000,000 shares authorized, 21,572,390 and 21,005,582 shares issued and outstanding at December 31, 2013 and March 31, 2013, respectively	215,274	210,056
Additional paid-in capital	57,243,806	55,866,338
Accumulated deficit	-43,028,585	-38,820,981
Accumulated other comprehensive loss	-464,805	-569,177
Total shareholders' equity	13,965,690	16,686,236
Total liabilities and shareholders' equity	$17,499,579	$20,040,735

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $)	Dec. 31, 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)	21,572,390	21,005,582
Common stock, shares outstanding (in shares)	21,572,390	21,005,582

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) [Abstract]	'	'	'	'
Net sales	$6,398,675	$5,590,431	$18,216,391	$16,877,394
Cost of goods sold	778,267	734,171	2,268,156	2,264,721
Gross profit	5,620,408	4,856,260	15,948,235	14,612,673
Operating expenses	'	'	'	'
General and administrative	1,194,882	1,058,558	5,166,255	3,178,239
Research and development	526,224	533,867	1,434,647	1,695,841
Selling and marketing	4,546,100	3,725,530	13,496,593	11,424,407
Amortization	7,873	215,681	22,347	646,971
Total operating expenses	6,275,079	5,533,636	20,119,842	16,945,458
Operating loss	-654,671	-677,376	-4,171,607	-2,332,785
Other income (expense)	'	'	'	'
Interest income	3,836	12,315	18,576	35,824
Foreign currency exchange gain (loss)	-506	445	-4,540	-3,432
Total other income (expense)	3,330	12,760	14,036	32,392
Loss before income taxes	-651,341	-664,616	-4,157,571	-2,300,393
Income tax expense	19,491	12,708	50,033	35,812
Net loss	($670,832)	($677,324)	($4,207,604)	($2,336,205)
Basic and diluted net loss per common share (in dollars per share)	($0.03)	($0.03)	($0.20)	($0.11)
Weighted average common shares outstanding:	'	'	'	'
Basic and diluted (in shares)	21,258,736	20,798,997	21,035,874	20,768,632

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) [Abstract]	'	'	'	'
Net loss	($670,832)	($677,324)	($4,207,604)	($2,336,205)
Other comprehensive income (loss), net of tax:	'	'	'	'
Foreign currency translation adjustments	35,979	28,262	129,398	-16,372
Unrealized gain (loss) on available-for-sale investments	-1,337	-60	1,480	2,091
Pension adjustments	-6,951	-1,159	-26,506	-1,623
Total other comprehensive income (loss), net of tax	27,691	27,043	104,372	-15,904
Comprehensive loss	($643,141)	($650,281)	($4,103,232)	($2,352,109)

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 compensation	3,317	1,206,884	0	0	1,210,201
Share-based compensation (in shares)	331,676	'	'	'	'
Proceeds from exercise of stock options, net of shares exchanged	1,901	170,584	0	0	172,485
Proceeds from exercise of stock options, net of shares exchanged (in shares)	190,132	'	'	'	'
Comprehensive loss	0	0	-4,207,604	104,372	-4,103,232
Balance at Dec. 31, 2013	$215,274	$57,243,806	($43,028,585)	($464,805)	$13,965,690
Balance (in shares) at Dec. 31, 2013	21,527,390	'	'	'	'

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	9 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:	'	'
Net loss	($4,207,604)	($2,336,205)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation and amortization	267,369	864,227
(Gain) loss on disposal of equipment	-5,000	3,035
Amortization of premium on marketable securities	7,562	39,551
Share-based consulting expense	0	1,623
Share-based compensation expense	1,210,201	608,953
Deferred income tax expense	3,245	5,473
Deferred rent	-27,790	-27,638
Changes in operating assets and liabilities:	'	'
Accounts receivable, net	79,428	228,768
Inventories	255,207	-138,862
Other current assets	16,868	-70,401
Accounts payable	21,724	-82,514
Accrued compensation	274,139	199,936
Accrued liabilities, other	-120,881	67,147
Accrued pension liability, net	-39,011	5,074
Net cash used in operating activities	-2,264,543	-631,833
Cash flows from investing activities:	'	'
Proceeds from maturity of available-for-sale investments	2,750,000	3,200,000
Proceeds from maturity of held-to-maturity investments	4,180,000	5,000,000
Purchases of available-for-sale investments	0	-4,921,036
Purchases of held-to-maturity investments	0	-2,500,000
Purchases of property, plant and equipment	-221,769	-137,101
Proceeds from sale of property, plant and equipment	6,773	7,038
Payments for intangible assets	-41,300	-4,440
Net cash provided by investing activities	6,673,704	644,461
Cash flows from financing activities:	'	'
Proceeds from exercise of options	172,485	150,000
Net cash provided by financing activities	172,485	150,000
Effect of exchange rate changes on cash and cash equivalents	48,741	-6,313
Net increase in cash and cash equivalents	4,630,387	156,315
Cash and cash equivalents at beginning of period	3,533,864	4,653,226
Cash and cash equivalents at end of period	8,164,251	4,809,541
Cash paid during the period for income taxes	$34,640	$42,319

Basis_of_Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Dec. 31, 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 December 31, 2013 and for the three- and nine-month periods ended December 31, 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	9 Months Ended
Newly Adopted Accounting Pronouncements	Dec. 31, 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 issued 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

9 Months Ended

Dec. 31, 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

in Active

Other

Unobservable

Markets for

Observable

Inputs

Identical

Inputs

(Level 3)

Assets

(Level 2)

(Level 1)

31-Dec-13

Short-term investments:

U.S. Government and Agency debt securities

4,452

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 $4,180 at March 31, 2013 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	9 Months Ended
Accounts Receivable	Dec. 31, 2013
Accounts Receivable [Abstract]	'
Accounts Receivable	'
	4. Accounts Receivable

	The allowance for doubtful accounts was $55 at December 31, 2013 and $87 at March 31, 2013.

Inventories

Inventories	9 Months Ended
Inventories	Dec. 31, 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:

		31-Dec-13		31-Mar-13

	Raw materials	$	141	$	219
	Work-in-process		39		21
	Finished goods		289		479
		$	469	$	719

Net_Loss_per_Common_Share

Net Loss per Common Share	9 Months Ended
	Dec. 31, 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 December 31 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	Range of stock
		and unvested	option exercise prices
		restricted stock

	31-Dec-13	1,518,068	$0.77 to $2.65
	31-Dec-12	1,240,085	$0.77 to $3.19

Sharebased_Compensation

Share-based Compensation	9 Months Ended
Share-based Compensation	Dec. 31, 2013
Share-based Compensation [Abstract]	'
Share-based Compensation	'
	7. Share-based Compensation

	As of December 31, 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 December 31, 2013 we had reserved 3,450,000 shares of our common stock for share-based grants, which includes 750,000 shares as approved by the shareholders at our annual meeting on September 12, 2013. As of December 31, 2013, we had 814, 575 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 $1,210 and $611 in share-based compensation and consulting expense for the nine months ended December 31, 2013 and 2012, respectively.

	As of December 31, 2013, we had approximately $1,953 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 2.4 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 nine months ended December 31:

		2013			2012

	Expected life in years		4.51			5.42
	Risk-free interest rate		1.35	%		0.93	%
	Expected volatility		89.32	%		91.31	%
	Expected dividend yield		0	%		0	%
	Weighted-average grant date fair value	$	1.67		$	2.6

	The expected life selected for options granted during the nine-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 nine months ended December 31, 2013:

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

	Outstanding at March 31, 2013		2,015,889		$	3.51			2.64	$	598
	Options granted		908,625			2.51
	Options exercised		(190,132	)		1.14
	Options surrendered		(293,807	)		3.99

	Outstanding at December 31, 2013		2,440,575		$	3.26			3.87	$	716

	Exercisable at December 31, 2013		1,383,840		$	3.74			1.88	$	426

	The total fair value of stock options that vested during the nine months ended December 31, 2013 and 2012 was $379 and $472, respectively.

	Restricted Stock. Our 2006 Stock and Incentive Plan also permits 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 nine months ended December 31, 2013:

		Number of Shares			Weighted average grant date fair value			Weighted average remaining life in years		Aggregate intrinsic value
	Balance at March 31, 2013		180,085		$	4.39			1.5	$	790
	Shares granted		121,750			3.06
	Shares vested		(31,693	)		4.59
	Shares forfeited		(90,074	)		4.38

	Balance at December 31, 2013		180,068		$	3.45			2.32	$	622

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

Savings_and_Retirement_Plans

Savings and Retirement Plans	9 Months Ended
Savings and Retirement Plans	Dec. 31, 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 $42 and $43 for the three months ended December 31, 2013 and 2012, respectively. We made discretionary contributions to the U.S. plan of $155 and $164 for the nine months ended December 31, 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 nine-month periods ended December 31:

		Three Months Ended						Nine Months Ended
		31-Dec						31-Dec
		2013			2012			2013			2012

	Gross service cost	$	32		$	19		$	95		$	55
	Interest cost		36			31			104			92
	Expected return on assets		(21	)		(5	)		(61	)		(14	)
	Amortization		2			1			5			4
	Net periodic retirement cost	$	49		$	46		$	143		$	137

Business_Segment_Information

Business Segment Information	9 Months Ended
Business Segment Information	Dec. 31, 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 December 31, 2013 and 2012 represented 26% and 27%, respectively, of our consolidated net sales. Net sales to customers outside the United States for the nine months ended December 31, 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 nine months ended December 31 is as follows:

			United		All Other Foreign		Consolidated
			States		Countries (1)		Consolidated

	Three months ended December 31, 2013		$	4,753	$	1,646	$	6,399

	Three months ended December 31, 2012		$	4,105	$	1,485	$	5,590

	Nine months ended December 31, 2013		$	13,516	$	4,700	$	18,216

	Nine months ended December 31, 2012		$	12,384	$	4,493	$	16,877


		-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 Foreign		Consolidated
			States		Countries (1)		Consolidated

	31-Dec-13		$	426	$	626	$	1,052
	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)

9 Months Ended

Dec. 31, 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

in Active

Other

Unobservable

Markets for

Observable

Inputs

Identical

Inputs

(Level 3)

Assets

(Level 2)

(Level 1)

31-Dec-13

Short-term investments:

U.S. Government and Agency debt securities

4,452

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)	9 Months Ended
Inventories (Tables)	Dec. 31, 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:

		31-Dec-13		31-Mar-13

	Raw materials	$	141	$	219
	Work-in-process		39		21
	Finished goods		289		479
		$	469	$	719

Net_Loss_per_Common_Share_Tabl

Net Loss per Common Share (Tables)	9 Months Ended
	Dec. 31, 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 December 31 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	Range of stock
		and unvested	option exercise prices
		restricted stock

	31-Dec-13	1,518,068	$0.77 to $2.65
	31-Dec-12	1,240,085	$0.77 to $3.19

Sharebased_Compensation_Tables

Share-based Compensation (Tables)	9 Months Ended
Share-based Compensation (Tables)	Dec. 31, 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 nine months ended December 31:

		2013			2012

	Expected life in years		4.51			5.42
	Risk-free interest rate		1.35	%		0.93	%
	Expected volatility		89.32	%		91.31	%
	Expected dividend yield		0	%		0	%
	Weighted-average grant date fair value	$	1.67		$	2.6
Stock option activity	'
	The following table summarizes the activity related to our stock options during the nine months ended December 31, 2013:

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

	Outstanding at March 31, 2013		2,015,889		$	3.51			2.64	$	598
	Options granted		908,625			2.51
	Options exercised		(190,132	)		1.14
	Options surrendered		(293,807	)		3.99

	Outstanding at December 31, 2013		2,440,575		$	3.26			3.87	$	716

	Exercisable at December 31, 2013		1,383,840		$	3.74			1.88	$	426
Restricted shares activity	'
	The following table summarizes the activity related to our restricted shares during the nine months ended December 31, 2013:

		Number of Shares			Weighted average grant date fair value			Weighted average remaining life in years		Aggregate intrinsic value
	Balance at March 31, 2013		180,085		$	4.39			1.5	$	790
	Shares granted		121,750			3.06
	Shares vested		(31,693	)		4.59
	Shares forfeited		(90,074	)		4.38

	Balance at December 31, 2013		180,068		$	3.45			2.32	$	622

Savings_and_Retirement_Plans_T

Savings and Retirement Plans (Tables)	9 Months Ended
Savings and Retirement Plans (Tables)	Dec. 31, 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 nine-month periods ended December 31:

		Three Months Ended						Nine Months Ended
		31-Dec						31-Dec
		2013			2012			2013			2012

	Gross service cost	$	32		$	19		$	95		$	55
	Interest cost		36			31			104			92
	Expected return on assets		(21	)		(5	)		(61	)		(14	)
	Amortization		2			1			5			4
	Net periodic retirement cost	$	49		$	46		$	143		$	137

Business_Segment_Information_T

Business Segment Information (Tables)	9 Months Ended
Business Segment Information (Tables)	Dec. 31, 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 nine months ended December 31 is as follows:

			United		All Other Foreign		Consolidated
			States		Countries (1)		Consolidated

	Three months ended December 31, 2013		$	4,753	$	1,646	$	6,399

	Three months ended December 31, 2012		$	4,105	$	1,485	$	5,590

	Nine months ended December 31, 2013		$	13,516	$	4,700	$	18,216

	Nine months ended December 31, 2012		$	12,384	$	4,493	$	16,877


		-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 Foreign		Consolidated
			States		Countries (1)		Consolidated

	31-Dec-13		$	426	$	626	$	1,052
	31-Mar-13		$	434	$	599	$	1,033

		-1	Substantially all maintained in The Netherlands

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013	Mar. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Certificates of Deposit	'	$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	4,452	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	4,452	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 $)	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013	Mar. 31, 2013
Accounts Receivable [Abstract]	'	'
Allowance for doubtful accounts and sales returns	$55	$87

Inventories_Details

Inventories (Details) (USD $)	Dec. 31, 2013	Mar. 31, 2013
Inventories [Abstract]	'	'
Raw materials	$141,000	$219,000
Work-in-process	39,000	21,000
Finished goods	289,000	479,000
Inventories	$469,094	$718,933

Net_Loss_per_Common_Share_Deta

Net Loss per Common Share (Details) (Options and Unvested Restricted Stock [Member], USD $)	9 Months Ended
	Dec. 31, 2013	Dec. 31, 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)	1,518,068	1,240,085
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)	$2.65	$3.19

Sharebased_Compensation_Detail

Share-based Compensation (Details) (USD $)

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

In Thousands, except Share data, unless otherwise specified

Dec. 31, 2013

Dec. 31, 2012

Mar. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2013

Jul. 23, 2013

Dec. 31, 2013

Minimum [Member]

Maximum [Member]

Stock Options [Member]

Restricted Stock [Member]

Stock Compensation Plan [Member]

2006 Amended Stock and Incentive Plan [Member]

Maximum [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)

21,572,390

21,005,582

300,000

Shares available for grant (in shares)

814,575

Term of share-based payment award (in years)

'5 years

'7 years

Vesting period

'3 years

Share-based compensation and consulting expense

$1,210

$611

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

Expected life in years

'4 years 6 months 4 days

'5 years 5 months 1 day

Risk free interest rate (in hundredths)

1.35%

0.93%

Expected volatility (in hundredths)

89.32%

91.31%

Expected dividend yield (in hundredths)

0.00%

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

$1.67

$2.60

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)

908,625

Options exercised (in shares)

-190,132

Options surrendered (in shares)

-293,807

Outstanding, end of period (in shares)

2,440,575

2,015,889

Exercisable, end of period (in shares)

1,383,840

Stock options, weighted average exercise price [Roll Forward]

Outstanding, beginning of period (in dollars per share)

$3.51

Options granted (in dollars per share)

$2.51

Options exercised (in dollars per share)

$1.14

Options surrendered (in dollars per share)

$3.99

Outstanding, end of period (in dollars per share)

$3.26

$3.51

Exercisable, end of period (in dollars per share)

$3.74

Stock options, additional disclosures [Abstract]

Outstanding, weighted average remaining life in years

'3 years 10 months 13 days

'2 years 7 months 20 days

Exercisable, Weighted average remaining life in years

'1 year 10 months 17 days

Outstanding, aggregate intrinsic value, end of period

716

598

Exercisable, aggregate intrinsic value, end of period

426

Fair value of stock options vested

379

472

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)

-31,693

Shares forfeited (in shares)

-90,074

Balance, end of period (in shares)

180,068

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)

$4.59

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 3 months 25 days

'1 year 6 months

Outstanding, Aggregate intrinsic value

622

790

Unrecognized share-based compensation expense

$1,953

Unrecognized compensation expense, weighted average period of recognition

'2 years 4 months 24 days

Savings_and_Retirement_Plans_D

Savings and Retirement Plans (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
Savings and Retirement Plans [Abstract]	'	'	'	'
Employer discretionary contribution amount to U.S. plan	$42	$43	$155	$164
Defined Benefit Plans, Net Periodic Retirement Cost [Abstract]	'	'	'	'
Gross service cost	32	19	95	55
Interest cost	36	31	104	92
Expected return on assets	-21	-5	-61	-14
Amortization	2	1	5	4
Net periodic retirement cost	$49	$46	$143	$137

Business_Segment_Information_D

Business Segment Information (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		Mar. 31, 2013
	Dec. 31, 2013		Dec. 31, 2012		Segment		Dec. 31, 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)	26.00%		27.00%		26.00%		27.00%		'
Revenues	$6,399		$5,590		$18,216		$16,877		'
Long-lived assets	1,052		'		1,052		'		1,033
United States [Member]	'		'		'		'		'
Revenues from External Customers and Long-Lived Assets [Line Items]	'		'		'		'		'
Revenues	4,753		4,105		13,516		12,384		'
Long-lived assets	426		'		426		'		434
All Other Foreign Countries [Member]	'		'		'		'		'
Revenues from External Customers and Long-Lived Assets [Line Items]	'		'		'		'		'
Revenues	1,646	[1]	1,485	[1]	4,700	[1]	4,493	[1]	'
Long-lived assets	$626	[2]	'		$626	[2]	'		$599	[2]

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