Annual report pursuant to Section 13 and 15(d)

Employee Benefit Plans

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Employee Benefit Plans
 12 Months Ended
Mar. 31, 2013
Employee Benefit Plans  
Employee Benefit Plans

13. Employee Benefit Plans

        The Company maintains a defined contribution 401(k) profit-sharing plan in which all employees are eligible to participate. Employees may contribute up to Internal Revenue Service annual limits or, if less, 90% of their eligible compensation. Employees are fully vested in their contributions to the plan. The plan also provides for both Company matching and discretionary contributions, which are determined by the Board of Directors. The Company began matching 50 cents on the dollar up to 4% of the employee's contributions in October 2006. Prior to that date, no Company contributions had been made since the inception of the plan. The Company's match vests 25% a year over four years starting from the employee's hire date. The expense recorded by the Company for the years ended March 31, 2013, 2012 and 2011 was approximately $0.2 million, $0.3 million and $0.2 million, respectively.