Uroplasty (UPI) 10-Q 6 Feb 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Dec. 31, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	UROPLASTY INC
Entity Central Index Key	890846
Current Fiscal Year End Date	-28
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	22,145,993
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Dec-14

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Dec. 31, 2014	Mar. 31, 2014
Current assets:
Cash and cash equivalents	$8,703,789	$8,681,609
Short-term investments	0	3,451,086
Accounts receivable, net	2,567,403	2,875,275
Inventories	437,471	517,217
Other	449,046	507,299
Total current assets	12,157,709	16,032,486
Property, plant, and equipment, net	946,726	997,609
Intangible assets, net	95,845	119,980
Prepaid pension assets	0	855
Deferred tax assets	127,625	150,116
Total assets	13,327,905	17,301,046
Current liabilities:
Accounts payable	1,193,692	904,879
Current portion - deferred rent	0	2,917
Current portion - capital lease obligation	4,434	0
Income taxes payable	23,729	21,922
Accrued liabilities:
Compensation	2,199,586	1,999,966
Other	394,732	479,373
Total current liabilities	3,816,173	3,409,057
Deferred rent - less current portion	26,644	171
Capital lease obligation - less current portion	18,411	0
Long-term incentive plan	131,907	0
Accrued pension liability	543,934	678,118
Total liabilities	4,537,069	4,087,346
Commitments and contingencies
Shareholders' equity:
Common stock $.01 par value; 40,000,000 shares authorized, 22,145,993 and 21,653,835 shares issued and outstanding at December 31, 2014 and March 31, 2014, respectively	221,460	216,538
Additional paid-in capital	58,785,632	57,655,628
Accumulated deficit	-49,549,988	-44,174,071
Accumulated other comprehensive loss	-666,268	-484,395
Total shareholders' equity	8,790,836	13,213,700
Total liabilities and shareholders' equity	$13,327,905	$17,301,046

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $)	Dec. 31, 2014	Mar. 31, 2014
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)	22,145,993	21,653,835
Common stock, shares outstanding (in shares)	22,145,993	21,653,835

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) [Abstract]
Net sales	$6,666,905	$6,398,675	$19,506,164	$18,216,391
Cost of goods sold	778,406	778,267	2,322,942	2,268,156
Gross profit	5,888,499	5,620,408	17,183,222	15,948,235
Operating expenses
General and administrative	2,283,333	1,194,882	5,148,998	5,166,255
Research and development	665,539	526,224	2,226,018	1,434,647
Selling and marketing	5,015,916	4,546,100	15,107,241	13,496,593
Amortization	7,584	7,873	24,136	22,347
Total operating expenses	7,972,372	6,275,079	22,506,393	20,119,842
Operating loss	-2,083,873	-654,671	-5,323,171	-4,171,607
Other income (expense)
Interest income	1,761	3,836	6,606	18,576
Interest expense	-250	0	-250	0
Foreign currency exchange gain (loss)	-2,038	-506	-3,317	-4,540
Total other income (expense)	-527	3,330	3,039	14,036
Loss before income taxes	-2,084,400	-651,341	-5,320,132	-4,157,571
Income tax expense	20,938	19,491	55,785	50,033
Net loss	($2,105,338)	($670,832)	($5,375,917)	($4,207,604)
Basic and diluted net loss per common share (in dollars per share)	($0.10)	($0.03)	($0.25)	($0.20)
Weighted average common shares outstanding:
Basic and diluted (in shares)	21,663,924	21,258,736	21,683,892	21,035,874

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) [Abstract]
Net loss	($2,105,338)	($670,832)	($5,375,917)	($4,207,604)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	-85,212	35,979	-221,689	129,398
Unrealized gain (loss) on available-for-sale investments	0	-1,337	-775	1,480
Pension adjustments	15,605	-6,951	40,591	-26,506
Total other comprehensive income (loss), net of tax	-69,607	27,691	-181,873	104,372
Comprehensive loss	($2,174,945)	($643,141)	($5,557,790)	($4,103,232)

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, 2014	$216,538	$57,655,628	($44,174,071)	($484,395)	$13,213,700
Balance (in shares) at Mar. 31, 2014	21,653,835
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	4,109	1,073,819	0	0	1,077,928
Share-based compensation (in shares)	410,888
Proceeds from exercise of stock options, net of shares exchanged	813	56,185	0	0	56,998
Proceeds from exercise of stock options, net of shares exchanged (in shares)	81,270
Comprehensive loss	0	0	-5,375,917	-181,873	-5,557,790
Balance at Dec. 31, 2014	$221,460	$58,785,632	($49,549,988)	($666,268)	$8,790,836
Balance (in shares) at Dec. 31, 2014	22,145,993

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net loss	($5,375,917)	($4,207,604)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	207,011	267,369
Loss (gain) loss on disposal of equipment	161	-5,000
Amortization of premium on marketable securities	311	7,562
Share-based compensation expense	1,077,928	1,210,201
Long term incentive plans	131,907	0
Deferred income tax expense	5,129	3,245
Deferred rent	23,556	-27,790
Changes in operating assets and liabilities:
Accounts receivable, net	220,002	79,428
Inventories	73,626	255,207
Other current assets	48,142	16,868
Accounts payable	295,113	21,724
Accrued compensation	212,259	274,139
Accrued liabilities	-59,459	-120,881
Accrued pension liability	-56,226	-39,011
Net cash used in operating activities	-3,196,457	-2,264,543
Cash flows from investing activities:
Proceeds from maturity of available-for-sale investments	3,450,000	2,750,000
Proceeds from maturity of held-to-maturity investments	0	4,180,000
Purchases of property, plant and equipment	-206,498	-221,769
Proceeds from sale of property, plant and equipment	3,104	6,773
Payments for intangible assets	0	-41,300
Net cash provided by investing activities	3,246,606	6,673,704
Cash flows from financing activities:
Proceeds from exercise of stock options	67,850	172,485
Net cash provided by financing activities	67,850	172,485
Effect of exchange rate changes on cash and cash equivalents	-95,819	48,741
Net increase in cash and cash equivalents	22,180	4,630,387
Cash and cash equivalents at beginning of period	8,681,609	3,533,864
Cash and cash equivalents at end of period	8,703,789	8,164,251
Cash paid during the period for income taxes	$56,144	$34,640

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Dec. 31, 2014
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation
	We have prepared our Condensed Consolidated Financial Statements included in this Quarterly Report on 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, or GAAP, 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, presented herein, 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, 2014.
	The Condensed Consolidated Financial Statements presented herein as of December 31, 2014 and March 31, 2014 and for the three and nine month periods ended December 31, 2014 and 2013 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.
	We have identified certain accounting policies that we consider particularly important for the portrayal of our results of operations and financial position and which may require the application of a higher level of judgment by our management, and as a result are subject to an inherent level of uncertainty.  These are characterized as “critical accounting policies” and address revenue recognition, accounts receivable, inventories, foreign currency translation and transactions, impairment of long-lived assets, share-based compensation, defined benefit pension plans and income taxes, each of which is described in our annual report on Form 10-K for the year ended March 31, 2014.  Based upon our review, we have determined that these policies remain our most critical accounting policies for the nine months ended December 31, 2014 and we have made no changes to these policies during fiscal 2015.

Newly_Adopted_Accounting_Prono

Newly Adopted Accounting Pronouncements	9 Months Ended
	Dec. 31, 2014
Newly Adopted Accounting Pronouncements [Abstract]
Newly Adopted Accounting Pronouncements	2. Newly Adopted Accounting Pronouncements
	In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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.  We adopted ASU No. 2013-11 on April 1, 2014 and the adoption of this update did not have a material impact on our financial statements.
	In April 2014, the FASB issued ASU No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” The amendments in this ASU change the criteria for reporting discontinued operations while enhancing disclosures in this area. It also addresses sources of confusion and inconsistent application related to financial reporting of discontinued operations guidance in GAAP.  Under the new guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. In addition, the new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations.
	The new guidance also requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. This disclosure will provide users with information about the ongoing trends in a reporting organization’s results from continuing operations. The amendments in ASU No. 2014-08 are effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2014.  We do not believe the adoption of this update will have a material impact on our financial statements.
	In May 2014, the FASB has issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).”  The guidance in this update supersedes the revenue recognition requirements in Topic 605, “Revenue Recognition.”  In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (for example, assets within the scope of Topic 360, Property, Plant, and Equipment, and intangible assets within the scope of Topic 350, Intangibles—Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in this update.  Under the new guidance, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.  The amendments in ASU No. 2014-09 are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted.  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, 2014
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
					in Active		Other		Unobservable
					Markets for		Observable		Inputs
					Identical		Inputs		(Level 3)
					Assets		(Level 2)
					(Level 1)
	31-Dec-14
	Short-term investments:
	U.S. Government and Agency debt securities		$	-	$	-	$	-	$	-
	31-Mar-14
	Short-term investments:
	U.S. Government and Agency debt securities			3,451,000		-		3,451,000		-
	U.S. Government and U.S. Government Agency debt securities.  Our debt securities consist of bonds, notes and treasury bills with risk ratings of AAA/Aaa and maturity dates within two years from date of purchase.  The estimated fair value of these securities is based on valuations provided by external investment managers.
	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
	Dec. 31, 2014
Accounts Receivable [Abstract]
Accounts Receivable	4. Accounts Receivable
	The allowance for doubtful accounts and sales returns was $33,000 at December 31, 2014 and $44,000 at March 31, 2014.

Inventories

Inventories	9 Months Ended
	Dec. 31, 2014
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-14		31-Mar-14
	Raw materials	$	126,000	$	136,000
	Work-in-process		28,000		25,000
	Finished goods		283,000		356,000
		$	437,000	$	517,000

Net_Loss_per_Common_Share

Net Loss per Common Share	9 Months Ended
	Dec. 31, 2014
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 diluted net loss per common share for all periods presented in our Condensed Consolidated Statements of Operations:
		Number of options		Range of stock
		and unvested		option exercise prices
		restricted stock
	31-Dec-14		483,089	$	2.06 to $2.06
	31-Dec-13		1,518,068	$	0.77 to $2.65

Sharebased_Compensation

Share-based Compensation	9 Months Ended
	Dec. 31, 2014
Share-based Compensation [Abstract]
Share-based Compensation	7. Share-based Compensation
	As of December 31, 2014, we had one active plan for share-based compensation grants.  Under the Uroplasty 2006 Amended Stock and Incentive Plan, as amended, 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, we reserved 3,450,000 shares of our common stock for share-based grants.  As of December 31, 2014, we had 352,889 shares remaining that were available for grant.
	We recognize share-based compensation expense in our Condensed Consolidated Statement of Operations based on the fair value at the time of grant of the share-based payment over the requisite service period.  We incurred approximately $1,078,000 and $1,210,000 in share-based compensation expense for the nine months ended December 31, 2014 and 2013, respectively.
	As of December 31, 2014, we had approximately $998,000 of unrecognized share-based compensation expense, net of estimated forfeitures, related to stock options that we expect to recognize over a weighted-average period of 1.7 years.  We also had $1,138,000 of unrecognized share-based compensation expense, net of estimated forfeitures, related to restricted shares that we expect to recognize over a weighted-average period of 2.1 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:
		2014			2013
	Expected life in years		2.28			4.51
	Risk-free interest rate		0.74	%		1.35	%
	Expected volatility		63.35	%		89.32	%
	Expected dividend yield		0	%		0	%
	Weighted-average grant date fair value	$	0.91		$	1.67
	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 the forfeiture rate for stock awards to be approximately zero percent for executive employees and directors and approximately 18% for non-executive employees based on our historical experience.
	The following table summarizes the activity related to our stock options during the nine months ended December 31, 2014:
		Number of			Weighted			Weighted		Aggregate
		shares			average			average		intrinsic
					exercise price			remaining		value
								life in years
	Outstanding at March 31, 2014		2,328,043		$	3.39			3.85	$	1,781,415
	Options granted		185,900			3.43
	Options exercised		(85,000	)		0.8
	Options surrendered		(624,451	)		5.03
	Outstanding at December 31, 2014		1,804,492		$	2.94			4.12	$	0
	Exercisable at December 31, 2014		1,020,168		$	3.19			2.94	$	0
	The total fair value of stock options that vested during the nine months ended December 31, 2014 and 2013 was $626,000 and $379,000, respectively.
	Restricted Stock.  Our 2006 Amended Stock and Incentive Plan, as amended, also permits the compensation committee of our board of directors to grant other stock-based benefits, including restricted shares.  Restricted shares are subject to risk of forfeiture for termination of employment or services.  The forfeiture risk for grants to board members generally lapses over a six month period.  The forfeiture risk to employees 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, 2014:
		Number of			Weighted			Weighted		Aggregate
		Shares			average			average		intrinsic
					grant date			remaining		value
					fair value			life in years
			146,262		$	3.38			2.23	$	540,000
	Balance at March 31, 2014
	Shares granted		420,100			3.22
	Shares vested		(76,561	)		3.35
	Shares forfeited		(9,212	)		3.94
	Balance at December 31, 2014		480,589		$	3.23			2.07	$	990,013
	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.
	Long-Term Incentive Plan and Awards.  On October 1, 2014, the compensation committee of our board of directors and our board of directors approved and adopted a Performance Award Agreement under the Uroplasty, Inc. 2006 Amended Stock and Incentive Plan, as amended , and on October 2, 2014, grants of Performance Awards (the “Awards”) were made to members of our senior management team .
	Performance goals for the Awards are based on the achievement of specified stock price targets during the period beginning on the date of grant and ending on the fourth anniversary of the date of grant or, if earlier, the closing date of a change of control (as defined in the Plan) of the Company (the “Performance Period”).  The stock price targets under the Awards are: $5.50 price per share of common stock, $7.50 price per share of common stock and $10.00 price per share of common stock.
	A stock price target is considered achieved on the date (a) the average closing price of the Uroplasty common stock equals or exceeds a stock price target for at least 45 consecutive trading days or (b) of the consummation of a change of control of the Company, provided the closing price of Uroplasty common stock on the last trading day immediately preceding the closing date of the change of control equals or exceeds a stock price target not previously achieved  during the Performance Period.
	The Awards are accounted for as liability awards under the share based compensation accounting guidance, as the awards are based on the performance of our common stock and are expected to be settled in cash.  The fair value of the Awards is calculated on a quarterly basis using a Monte Carlo valuation model and is recognized over the derived service period of approximately 2.4 years.  Vesting of the Awards is based on the probability of meeting the market criteria which is considered in determining the estimated fair value.  We recorded a liability of $132,000 at December 31, 2014 and related expense was $132,000 for the quarter ending December 31, 2014 for the Awards.

Savings_and_Retirement_Plans

Savings and Retirement Plans	9 Months Ended
	Dec. 31, 2014
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, 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 $181,000 and $155,000 for the nine months ended December 31, 2014, and 2013, 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
		2014			2013			2014			2013
	Gross service cost	$	33,000		$	32,000		$	104,000		$	95,000
	Interest cost		34,000			36,000			107,000			104,000
	Expected return on assets		(25,000	)		(21,000	)		(79,000	)		(61,000	)
	Amortization		1,000			2,000			3,000			5,000
	Net periodic retirement cost	$	43,000		$	49,000		$	135,000		$	143,000

Business_Segment_Information

Business Segment Information	9 Months Ended
	Dec. 31, 2014
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, 2014 and 2013 represented 24% and 26%, respectively, of our consolidated net sales. Net sales to customers outside the United States for the nine months ended December 31, 2014 and 2013 represented 26% and 26%, 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		United		All Other		Consolidated
			States		Kingdom		Foreign
							Countries (1)
	Three months ended December 31, 2014		$	5,083,000	$	636,000	$	948,000	$	6,667,000
	Three months ended December 31, 2013		$	4,753,000	$	591,000	$	1,055,000	$	6,399,000
	Nine months ended December 31, 2014		$	14,512,000	$	1,923,000	$	3,071,000	$	19,506,000
	Nine months ended December 31, 2013		$	13,516,000	$	1,713,000	$	2,987,000	$	18,216,000
		-1	No other 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)
	31-Dec-14		$	409,000	$	538,000	$	947,000
	31-Mar-14		$	379,000	$	619,000	$	998,000
		-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.

Pending_Merger

Pending Merger	9 Months Ended
	Dec. 31, 2014
Pending Merger [Abstract]
Pending Merger	10. Pending Merger
	On December 21, 2014, we entered into an Agreement and Plan of Merger with Vision-Sciences, Inc. (“Vision”), and Visor Merger Sub LLC, a wholly-owned subsidiary of Vision (“Merger Sub”), pursuant to which we will merge with and into Merger Sub (the “Merger”), with Merger Sub continuing as the surviving company and for which the sole member is Vision following the transaction.
	At the effective time and as a result of the Merger, each share of Uroplasty common stock issued and outstanding immediately prior to the effective time of the Merger will be converted into the right to receive 3.6331 shares of common stock of Vision.  As a result of the Merger, all outstanding options to purchase shares of common stock of the Company and other equity awards based on Uroplasty common stock, which are outstanding immediately prior to the effective time of the Merger, will become, respectively, options to purchase shares of common stock of Vision and, with respect to all other equity awards, awards based on common stock of Vision, in each case, on terms substantially identical to those in effect prior to the effective time of the Merger, except for the adjustments to the underlying number of shares and the exercise price based on the exchange ratio used in the Merger and other adjustments as provided in the Merger Agreement.
	The transaction is subject to approval of our and Vision’s shareholders, the effectiveness of the Form S-4 registration statement filed by Vision with the Securities and Exchange Commission on January 27, 2014, the continued effectiveness of voting agreements with the executive officers and directors of the companies, the continued effectiveness without amendment or modification of the amendments to the convertible notes and warrants held by Mr. Lewis C. Pell, Chairman of the board of directors of Vision, and other customary closing conditions.  The transaction is expected to be completed in the first half of calendar 2015.
	We incurred approximately $820,000 of transaction fees related to this transaction in the quarter ended December 31, 2014.

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Dec. 31, 2014
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
				in Active		Other		Unobservable
				Markets for		Observable		Inputs
				Identical		Inputs		(Level 3)
				Assets		(Level 2)
				(Level 1)
	31-Dec-14
	Short-term investments:
	U.S. Government and Agency debt securities	$	-	$	-	$	-	$	-
	31-Mar-14
	Short-term investments:
	U.S. Government and Agency debt securities		3,451,000		-		3,451,000		-

Inventories_Tables

Inventories (Tables)	9 Months Ended
	Dec. 31, 2014
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-14		31-Mar-14
	Raw materials	$	126,000	$	136,000
	Work-in-process		28,000		25,000
	Finished goods		283,000		356,000
		$	437,000	$	517,000

Net_Loss_per_Common_Share_Tabl

Net Loss per Common Share (Tables)	9 Months Ended
	Dec. 31, 2014
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 diluted net loss per common share for all periods presented in our Condensed Consolidated Statements of Operations:
		Number of options		Range of stock
		and unvested		option exercise prices
		restricted stock
	31-Dec-14		483,089	$	2.06 to $2.06
	31-Dec-13		1,518,068	$	0.77 to $2.65

Sharebased_Compensation_Tables

Share-based Compensation (Tables)	9 Months Ended
	Dec. 31, 2014
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:
		2014			2013
	Expected life in years		2.28			4.51
	Risk-free interest rate		0.74	%		1.35	%
	Expected volatility		63.35	%		89.32	%
	Expected dividend yield		0	%		0	%
	Weighted-average grant date fair value	$	0.91		$	1.67
Stock option activity	The following table summarizes the activity related to our stock options during the nine months ended December 31, 2014:
		Number of			Weighted			Weighted		Aggregate
		shares			average			average		intrinsic
					exercise price			remaining		value
								life in years
	Outstanding at March 31, 2014		2,328,043		$	3.39			3.85	$	1,781,415
	Options granted		185,900			3.43
	Options exercised		(85,000	)		0.8
	Options surrendered		(624,451	)		5.03
	Outstanding at December 31, 2014		1,804,492		$	2.94			4.12	$	0
	Exercisable at December 31, 2014		1,020,168		$	3.19			2.94	$	0
Restricted shares activity	The following table summarizes the activity related to our restricted shares during the nine months ended December 31, 2014:
		Number of			Weighted			Weighted		Aggregate
		Shares			average			average		intrinsic
					grant date			remaining		value
					fair value			life in years
			146,262		$	3.38			2.23	$	540,000
	Balance at March 31, 2014
	Shares granted		420,100			3.22
	Shares vested		(76,561	)		3.35
	Shares forfeited		(9,212	)		3.94
	Balance at December 31, 2014		480,589		$	3.23			2.07	$	990,013

Savings_and_Retirement_Plans_T

Savings and Retirement Plans (Tables)	9 Months Ended
	Dec. 31, 2014
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
		2014			2013			2014			2013
	Gross service cost	$	33,000		$	32,000		$	104,000		$	95,000
	Interest cost		34,000			36,000			107,000			104,000
	Expected return on assets		(25,000	)		(21,000	)		(79,000	)		(61,000	)
	Amortization		1,000			2,000			3,000			5,000
	Net periodic retirement cost	$	43,000		$	49,000		$	135,000		$	143,000

Business_Segment_Information_T

Business Segment Information (Tables)	9 Months Ended
	Dec. 31, 2014
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		United		All Other		Consolidated
			States		Kingdom		Foreign
							Countries (1)
	Three months ended December 31, 2014		$	5,083,000	$	636,000	$	948,000	$	6,667,000
	Three months ended December 31, 2013		$	4,753,000	$	591,000	$	1,055,000	$	6,399,000
	Nine months ended December 31, 2014		$	14,512,000	$	1,923,000	$	3,071,000	$	19,506,000
	Nine months ended December 31, 2013		$	13,516,000	$	1,713,000	$	2,987,000	$	18,216,000
		-1	No other 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)
	31-Dec-14		$	409,000	$	538,000	$	947,000
	31-Mar-14		$	379,000	$	619,000	$	998,000
		-1	Substantially all maintained in The Netherlands

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (Recurring [Member], USD $)	9 Months Ended
	Dec. 31, 2014	Mar. 31, 2014
Assets carried at fair value measured on a recurring basis [Abstract]
Short-term U.S. government and agency debt securities	$0	$3,451,000
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets carried at fair value measured on a recurring basis [Abstract]
Short-term U.S. government and agency debt securities	0	0
Significant Other Observable Inputs ( Level 2) [Member]
Assets carried at fair value measured on a recurring basis [Abstract]
Short-term U.S. government and agency debt securities	0	3,451,000
Maximum period for maturity of debt securities	2 years
Significant Unobservable Inputs (Level 3) [Member]
Assets carried at fair value measured on a recurring basis [Abstract]
Short-term U.S. government and agency debt securities	$0	$0

Accounts_Receivable_Details

Accounts Receivable (Details) (USD $)	Dec. 31, 2014	Mar. 31, 2014
Accounts Receivable [Abstract]
Allowance for doubtful accounts and sales returns	$33,000	$44,000

Inventories_Details

Inventories (Details) (USD $)	Dec. 31, 2014	Mar. 31, 2014
Inventories [Abstract]
Raw materials	$126,000	$136,000
Work-in-process	28,000	25,000
Finished goods	283,000	356,000
Inventories	$437,471	$517,217

Net_Loss_per_Common_Share_Deta

Net Loss per Common Share (Details) (Options and Unvested Restricted Stock [Member], USD $)	9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
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)	483,089	1,518,068
Range of exercise prices - lower range limit (in dollars per share)	$2.06	$0.77
Range of exercise prices - upper range limit (in dollars per share)	$2.06	$2.65

Sharebased_Compensation_Detail

Share-based Compensation (Details) (USD $)	3 Months Ended	9 Months Ended		12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		2 years 4 months 24 days
Share-based compensation expense		$1,078,000	$1,210,000
Long-Term Incentive Plan [Abstract]
Stock price one (in dollars per share)					$5.50
Stock price two (in dollars per share)					$7.50
Stock price three (in dollars per share)					$10
Number of consecutive trading days		45 days
Vesting period of the awards		2 years 4 months 24 days
Liability for long-term incentive plan	131,907	131,907		0
Long term incentive plans	132,000	131,907	0
Stock Options [Member]
Weighted-average assumptions used to value the options granted [Abstract]
Expected life in years		2 years 3 months 11 days	4 years 6 months 4 days
Risk free interest rate (in hundredths)		0.74%	1.35%
Expected volatility (in hundredths)		63.35%	89.32%
Expected dividend yield (in hundredths)		0.00%	0.00%
Weighted-average grant date fair value (in dollars per share)		$0.91	$1.67
Stock options, number of shares [Roll Forward]
Outstanding, beginning of period (in shares)		2,328,043
Options granted (in shares)		185,900
Options exercised (in shares)		-85,000
Options surrendered (in shares)		-624,451
Outstanding, end of period (in shares)	1,804,492	1,804,492		2,328,043
Exercisable, end of period (in shares)	1,020,168	1,020,168
Stock options, weighted average exercise price [Roll Forward]
Outstanding, beginning of period (in dollars per share)		$3.39
Options granted (in dollars per share)		$3.43
Options exercised (in dollars per share)		$0.80
Options surrendered (in dollars per share)		$5.03
Outstanding, end of period (in dollars per share)	$2.94	$2.94		$3.39
Exercisable, end of period (in dollars per share)	$3.19	$3.19
Stock options, additional disclosures [Abstract]
Outstanding, weighted average remaining life in years		4 years 1 month 13 days		3 years 10 months 6 days
Exercisable, Weighted average remaining life in years		2 years 11 months 8 days
Outstanding, aggregate intrinsic value, end of period	0	0		1,781,415
Exercisable, aggregate intrinsic value, end of period	0	0
Fair value of stock options vested		626,000	379,000
Restricted shares, additional disclosures [Abstract]
Unrecognized share-based compensation expense	998,000	998,000
Unrecognized compensation expense, weighted average period of recognition		1 year 8 months 12 days
Stock Options [Member] | Executive Employees and Directors [Member]
Weighted-average assumptions used to value the options granted [Abstract]
Forfeiture rate (in hundredths)		0.00%
Stock Options [Member] | Non-Executive Employees [Member]
Weighted-average assumptions used to value the options granted [Abstract]
Forfeiture rate (in hundredths)		18.00%
Restricted Stock [Member]
Restricted shares, number of shares [Roll Forward]
Balance, beginning of period (in shares)		146,262
Shares granted (in shares)		420,100
Shares vested (in shares)		-76,561
Shares forfeited (in shares)		-9,212
Balance, end of period (in shares)	480,589	480,589		146,262
Restricted shares, weighted average grant date fair value [Roll Forward]
Balance, beginning of period (in dollars per share)		$3.38
Shares granted (in dollars per share)		$3.22
Shares vested (in dollars per share)		$3.35
Shares forfeited (in dollars per share)		$3.94
Balance, end of period (in dollars per share)	$3.23	$3.23		$3.38
Restricted shares, additional disclosures [Abstract]
Weighted average remaining life in years		2 years 0 months 25 days		2 years 2 months 23 days
Outstanding, Aggregate intrinsic value	990,013	990,013		540,000
Unrecognized share-based compensation expense	$1,138,000	$1,138,000
Unrecognized compensation expense, weighted average period of recognition		2 years 1 month 6 days
Restricted Stock [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of share-based payment award		3 years
Restricted Stock [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of share-based payment award		4 years
2006 Amended Stock and Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of active plans for share-based compensation grants	1	1
Number of shares reserved for share-based grants (in shares)	3,450,000	3,450,000
Shares available for grant (in shares)	352,889	352,889
2006 Amended Stock and Incentive Plan [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Long-Term Incentive Plan [Abstract]
Vesting period of the awards		3 years
2006 Amended Stock and Incentive Plan [Member] | Stock Options [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of share-based payment award		5 years
2006 Amended Stock and Incentive Plan [Member] | Stock Options [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of share-based payment award		7 years

Savings_and_Retirement_Plans_D

Savings and Retirement Plans (Details) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Savings and Retirement Plans [Abstract]
Employer discretionary contribution amount to U.S. plan			$181,000	$155,000
Defined Benefit Plans, Net Periodic Retirement Cost [Abstract]
Gross service cost	33,000	32,000	104,000	95,000
Interest cost	34,000	36,000	107,000	104,000
Expected return on assets	-25,000	-21,000	-79,000	-61,000
Amortization	1,000	2,000	3,000	5,000
Net periodic retirement cost	$43,000	$49,000	$135,000	$143,000

Business_Segment_Information_D

Business Segment Information (Details) (USD $)	3 Months Ended				9 Months Ended
	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2014		Dec. 31, 2013		Mar. 31, 2014
					Customer		Customer
					Segment
Business Segment Information [Abstract]
Number of operating segments					1
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue by customer (in hundredths)	24.00%		26.00%		26.00%		26.00%
Revenues	$6,667,000		$6,399,000		$19,506,000		$18,216,000
Long-lived assets	947,000				947,000				998,000
Number of major customers					0		0
Percentage of sales considered for major customer (in hundredths)					10.00%		10.00%
United States [Member] | Reportable Geographical Components [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	5,083,000		4,753,000		14,512,000		13,516,000
Long-lived assets	409,000				409,000				379,000
United Kingdom [Member] | Reportable Geographical Components [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	636,000		591,000		1,923,000		1,713,000
All Other Foreign Countries [Member] | Reportable Geographical Components [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	948,000	[1]	1,055,000	[1]	3,071,000	[1]	2,987,000	[1]
Long-lived assets	$538,000	[2]			$538,000	[2]			$619,000	[2]
[1]	No country accounts for 10% or more of the consolidated net sales.
[2]	Substantially all maintained in The Netherlands.

Pending_Merger_Details

Pending Merger (Details) (USD $)	Dec. 31, 2014
Business Acquisition [Line Items]
Number of common shares received (in shares)	3.6331
Transaction costs	$820,000