Stockholders' Equity (Tables)
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12 Months Ended |
Mar. 31, 2016 |
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| Summary of stock-based compensation expense by statement of operations line item |
The following table summarizes, by statement of operations line item, stock-based compensation expense for the years ended March 31, 2016, 2015 and 2014 (in thousands):
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Fiscal Year
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Ended March 31,
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2016
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2015
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2014
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Cost of goods sold
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$
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325
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$
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113
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$
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43
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Research and development
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74
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328
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562
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Selling, general and administrative
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2,171
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1,795
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1,542
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Stock-based compensation expense
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$
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2,570
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$
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2,236
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$
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2,147
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| Summary of stock option activity |
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Weighted-
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Average
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Weighted-
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Remaining
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Aggregate
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Average
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Contractual
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Intrinsic
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Shares
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Exercise Price
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Term
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Value
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(in years)
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Options outstanding at March 31, 2015
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658,170
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$
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25.57
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Granted
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29,225
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$
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12.80
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Exercised
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—
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$
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—
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Forfeited, cancelled or expired
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(219,764)
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$
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38.76
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Options outstanding at March 31, 2016
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467,631
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$
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22.68
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2.7
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—
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Options fully vested at March 31, 2016
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467,631
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$
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22.68
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2.7
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—
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Options exercisable at March 31, 2016
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459,770
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$
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22.67
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2.8
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—
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| Schedule of weighted-average assumptions used to calculate the estimated fair value of each stock option |
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Fiscal Year Ended
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March 31,
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2016
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2015
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2014
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Risk-free interest rates
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1.5
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%
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1.8
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%
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0.9
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%
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Expected lives (in years)
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5.7
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5.7
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5.7
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Dividend yield
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—
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%
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—
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%
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—
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%
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Expected volatility
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59.0
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%
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77.0
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%
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77.3
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%
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Weighted average grant date fair value of options granted during the period
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$
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6.84
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$
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18.80
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$
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12.00
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| Summary of restricted stock unit activity |
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Weighted
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Average Grant
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Date Fair
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Restricted Stock and Performance Restricted Stock Units
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Shares
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Value
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Nonvested restricted stock units outstanding at March 31, 2015
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93,383
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$
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23.76
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Granted
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234,046
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3.86
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Vested and issued
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(37,530)
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24.28
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Forfeited
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(33,112)
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16.15
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Nonvested restricted stock units outstanding at March 31, 2016
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256,787
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6.53
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Restricted stock units expected to vest beyond March 31, 2016
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256,776
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$
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6.52
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| Schedule of nonqualified common stock options and restricted stock units issued outside of the 2000 Plan |
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Outside of 2000 Plan
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Options
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RSUs
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Executive Vice President and Chief Executive Officer
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100,000
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—
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Executive Vice President of Sales and Marketing
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42,500
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—
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Vice President of Operations
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5,729
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2,343
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Outstanding stock outside of 2000 Plan
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148,229
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2,343
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| Non-employee director |
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| Schedule of additional information on stock options |
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Fiscal Year
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Ended March 31,
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2016
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2015
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2014
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Non-employee director stock awards compensation expense (in thousands)
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$
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431
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$
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117
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$
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116
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Non-employee director deferred stock awards granted
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305,725
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5,964
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4,580
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Weighted average grant date fair value of restricted stock awards granted during the period
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$
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1.41
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$
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19.76
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$
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25.26
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| Stock options |
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| Schedule of additional information on stock options |
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Fiscal Year
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Ended March 31,
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2016
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2015
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2014
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Stock option compensation expense (in thousands)
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$
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1,248
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$
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1,071
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$
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1,117
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Cash received for exercise price (in thousands)
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$
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—
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$
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302
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$
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464
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Intrinsic value (in thousands)
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$
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—
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$
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129
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$
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225
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Weighted average grant date fair value of options exercised during the period
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$
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—
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$
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26.75
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$
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39.96
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| Restricted stock units |
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| Schedule of additional information on stock options |
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Fiscal Year Ended
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March 31,
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2016
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2015
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2014
|
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Restricted stock compensation expense (in thousands)
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$
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891
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$
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1,048
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$
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914
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Aggregate fair value of restricted stock units vested and issued (in thousands)
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$
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346
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$
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1,206
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$
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806
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Weighted average grant date fair value of restricted stock units granted during the period
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$
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3.34
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$
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26.50
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$
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21.90
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