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Useful Life

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Acquired identifiable intangible assets

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Mar. 31, 2018	May 29, 2018	Sep. 30, 2017
Document And Entity Information
Entity Registrant Name	GSI TECHNOLOGY INC
Entity Central Index Key	0001126741
Document Type	10-K
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
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 Public Float			$ 119.1
Entity Common Stock, Shares Outstanding		21,686,364
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2018

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
ASSETS
Cash and cash equivalents	$ 40,241	$ 33,736
Short-term investments	18,124	16,199
Accounts receivable, net	5,279	6,349
Inventories	5,547	9,211
Prepaid expenses and other current assets	2,080	2,777
Total current assets	71,271	68,272
Property and equipment, net	8,172	7,689
Long-term investments	7,923	12,898
Goodwill	7,978	7,978
Intangible assets, net	2,989	3,302
Other assets	1,207	2,456
Total assets	99,540	102,595
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	1,841	1,627
Accrued expenses and other liabilities	5,442	7,051
Deferred revenue	121	1,796
Total current liabilities	7,404	10,474
Income taxes payable	619	244
Deferred income taxes		15
Other accrued expenses	4,702	5,418
Total liabilities	12,725	16,151
Commitments and contingencies (Note 7)
Stockholders' equity:
Preferred stock: $0.001 par value authorized: 5,000,000 shares; issued and outstanding: none
Common Stock: $0.001 par value authorized: 150,000,000 shares; issued and outstanding: 21,407,247 and 20,612,757 shares, respectively	21	21
Additional paid-in capital	27,391	21,830
Accumulated other comprehensive loss	(142)	(62)
Retained earnings	59,545	64,655
Total stockholders' equity	86,815	86,444
Total liabilities and stockholders' equity	$ 99,540	$ 102,595

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Income Statement
Net revenues	$ 42,643	$ 48,180	$ 52,736
Cost of revenues	20,217	21,764	25,999
Gross profit	22,426	26,416	26,737
Operating expenses:
Research and development	16,998	15,803	12,095
Selling, general and administrative	9,899	11,140	17,663
Total operating expenses	26,897	26,943	29,758
Loss from operations	(4,471)	(527)	(3,021)
Interest income, net	421	312	307
Other income (expense), net	(12)	166	(97)
Loss before income taxes	(4,062)	(49)	(2,811)
Provision for (benefit from) income taxes	453	66	(641)
Net loss	$ (4,515)	$ (115)	$ (2,170)
Net loss per share:
Basic	$ (0.21)	$ (0.01)	$ (0.10)
Diluted	$ (0.21)	$ (0.01)	$ (0.10)
Weighted average shares used in per share calculations:
Basic	21,085	20,652	22,593
Diluted	21,085	20,652	22,593

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income	Retained Earnings	Total
Beginning Balance - Shares at Mar. 31, 2015	23,128,372
Beginning Balance - Amount at Mar. 31, 2015	$ 23	$ 29,407	$ 26	$ 66,940	$ 96,396
Issuance of common stock under employee stock option plans, shares	199,961
Issuance of common stock under employee stock option plans, amount		818			818
Repurchase and retirement of common stock, shares	(1,611,969)
Repurchase and retirement of common stock, amount	$ (1)	(7,025)			(7,026)
Stock-based compensation expense		1,850			1,850
Comprehensive loss:
Net income (loss)				(2,170)	(2,170)
Net unrealized gain (loss) on available-for-sale investments			1		1
Ending Balance, Shares at Mar. 31, 2016	21,716,364
Ending Balance, Amount at Mar. 31, 2016	$ 22	25,050	27	64,770	89,869
Issuance of common stock under employee stock option plans, shares	539,834
Issuance of common stock under employee stock option plans, amount	$ 1	2,013			2,014
Repurchase and retirement of common stock, shares	(1,643,441)
Repurchase and retirement of common stock, amount	$ (2)	(7,110)			(7,112)
Stock-based compensation expense		1,877			1,877
Comprehensive loss:
Net income (loss)				(115)	(115)
Net unrealized gain (loss) on available-for-sale investments			(89)		(89)
Ending Balance, Shares at Mar. 31, 2017	20,612,757
Ending Balance, Amount at Mar. 31, 2017	$ 21	21,830	(62)	64,655	86,444
Issuance of common stock under employee stock option plans, shares	794,490
Issuance of common stock under employee stock option plans, amount		3,491			3,491
Stock-based compensation expense		2,070			2,070
Impact of adoption of ASU 2016-16 \| ASU 2016-16				(595)	(595)
Comprehensive loss:
Net income (loss)				(4,515)	(4,515)
Net unrealized gain (loss) on available-for-sale investments			(80)		(80)
Ending Balance, Shares at Mar. 31, 2018	21,407,247
Ending Balance, Amount at Mar. 31, 2018	$ 21	$ 27,391	$ (142)	$ 59,545	$ 86,815

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net loss	$ (4,515)	$ (115)	$ (2,170)
Adjustments to reconcile net loss to net cash provided by operating activities:
Allowance for sales returns, doubtful accounts and other	(41)	4	(3)
Provision for excess and obsolete inventories	1,561	588	1,172
Depreciation and amortization	1,255	1,532	1,459
Stock-based compensation	2,070	1,877	1,850
Amortization of premium on investments	73	74	209
Changes in assets and liabilities:
Accounts receivable	1,111	1,125	782
Inventory	2,103	(2,625)	66
Prepaid expenses and other assets	117	103	102
Accounts payable	189	(887)	(441)
Accrued expenses and other liabilities	(1,183)	911	(2,081)
Deferred revenue	(1,675)	(534)	(485)
Net cash provided by operating activities	1,065	2,053	460
Cash flows from investing activities:
Purchase of investments	(13,243)	(18,563)	(14,149)
Maturities of short-term investments	16,140	23,600	23,585
Acquisition			(4,359)
(Increase) decrease in MikaMonu escrow deposit	1,234		(2,984)
Purchases of property and equipment	(1,320)	(219)	(1,158)
Net cash provided by investing activities	2,811	4,818	935
Cash flows from financing activities:
Repurchase of common stock		(7,112)	(7,026)
Payment of MikaMonu escrow deposit	(862)
Proceeds from issuance of common stock under employee stock plans	3,491	2,014	818
Net cash provided by (used in) financing activities	2,629	(5,098)	(6,208)
Net increase (decrease) in cash and cash equivalents	6,505	1,773	(4,813)
Cash and cash equivalents at beginning of the period	33,736	31,963	36,776
Cash and cash equivalents at end of the period	40,241	33,736	31,963
Non-cash financing activities:
Purchases of property and equipment through accounts payable and accruals	105
Supplemental cash flow information:
Net cash paid for income taxes	$ 39	$ 1,339	$ 78

1. THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Mar. 31, 2018

The Company And Summary Of Significant Accounting Policies

NOTE 1-THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1—THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Company

GSI Technology, Inc. (the “Company”) was incorporated in California in March 1995 and reincorporated in Delaware on June 9, 2004. The Company is a provider of high performance semiconductor memory solutions to networking, industrial, medical, aerospace and military customers. The Company’s products are incorporated primarily in high-performance networking and telecommunications equipment, such as routers, switches, wide area network infrastructure equipment, wireless base stations and network access equipment. In addition, the Company serves the ongoing needs of the military, industrial, test equipment and medical markets for high-performance SRAMs. The Company’s in-place associative computing product, currently under development, is targeted for markets including big data, computer vision and cyber security.

Accounting principles

The consolidated financial statements and accompanying notes were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

Basis of consolidation

The consolidated financial statements include the accounts of the Company’s four wholly-owned subsidiaries, GSI Technology Holdings, Inc., GSI Technology (BVI), Inc., GSI Technology Israel Ltd. and GSI Technology Taiwan, Inc. All inter-company transactions and balances have been eliminated in consolidation.

Use of estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Significant estimates are inherent in the preparation of the consolidated financial statements and include revenue recognition, obsolete and excess inventory, the valuation allowance on deferred tax assets, stock-based compensation, contingent consideration and the valuation of goodwill. Actual results could differ materially from those estimates.

Risk and uncertainties

The Company buys all of its SRAM and LLDRAM wafers, integral components of its products, from single suppliers and is also dependent on independent suppliers to assemble and test its products. During the years ended March 31, 2018, 2017 and 2016, all of the wafers used in the Company’s SRAM and LLDRAM products were supplied by Taiwan Semiconductor Manufacturing Company Limited, or TSMC, and Powerchip Technology Corporation, or Powerchip, respectively. If these suppliers fail to satisfy the Company’s requirements on a timely basis at competitive prices, the Company could suffer manufacturing delays, a possible loss of revenues, or higher cost of revenues, any of which could adversely affect operating results.

A majority of the Company’s net revenues come from sales to customers in the networking and telecommunications equipment industry. A decline in demand in this industry could have a material adverse effect on the Company’s operating results and financial condition.

Because much of the manufacturing and testing of the Company’s products is conducted in Taiwan, its business performance may be affected by changes in Taiwan’s political, social and economic environment. For example, any political instability resulting from the relationship among the United States, Taiwan and the People’s Republic of China could damage the Company’s business. Moreover, the role of the Taiwanese government in the Taiwanese economy is significant. Taiwanese policies toward economic liberalization, and laws and policies affecting technology companies, foreign investment, currency exchange rates, taxes and other matters could change, resulting in greater restrictions on the Company’s and its suppliers' ability to do business and operate facilities in Taiwan. If any of these risks were to occur, the Company’s business could be harmed.

Some of the Company’s suppliers and the Company’s two principal operations are located near fault lines. In the event of a major earthquake or other natural disaster near the facilities of any of these suppliers or the Company, the Company’s business could be harmed.

From time to time, the Company is involved in legal actions. See Note 7 for information regarding litigation that was resolved during the year ended March 31, 2016. There are many uncertainties associated with any litigation, and the Company may not prevail. If information becomes available that causes us to determine that a loss in any of our pending litigation, or the settlement of such litigation, is probable, and we can reasonably estimate the loss associated with such events, we will record the loss in accordance with GAAP. However, the actual liability in any such litigation may be materially different from our estimates, which could require us to record additional costs.

Revenue recognition

The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred, the price is fixed or determinable and collectability of the resulting receivable is reasonably assured. Under these criteria, revenue from the sale of products is generally recognized upon shipment according to the Company’s shipping terms, net of accruals for estimated sales returns and allowances based on historical experience. For sales to consignment warehouses, who purchase products from the Company for use by contract manufacturers, revenues are recognized upon delivery to the contract manufacturer. Sales to certain distributors were previously made under agreements allowing for returns or credits under certain circumstances. We therefore deferred recognition of revenue on sales to those distributors under these terms until products were resold by the distributor. During fiscal 2018, we revised our distribution agreements to these distributors to eliminate ship from stock and debits and price protection. Under these revised distribution agreements, selling prices are now fixed and determinable on the date of shipment and revenue is recognized upon shipment. Under these revised distribution agreements, we recognized additional revenue of $2.0 million in fiscal 2018 on the dates that the distribution agreements were revised for product held by our distributors as the price became fixed and determinable.

Cash and cash equivalents

Cash and cash equivalents include cash in demand accounts and highly liquid investments purchased with an original or remaining maturity of three months or less at the date of purchase, stated at cost, which approximates their fair value.

Short-term and long-term investments

All of the Company’s short-term and long-term investments are classified as available-for-sale. Available-for-sale debt securities with maturities greater than twelve months are classified as long-term investments when they are not intended for use in current operations. Investments in available-for-sale securities are reported at fair value with unrecognized gains (losses), net of tax, as a component of “Accumulated other comprehensive income (loss)” on the Consolidated Balance Sheets. The Company monitors its investments for impairment periodically and records appropriate reductions in carrying values when the declines in fair value are determined to be other-than-temporary.

Concentration of credit risk

Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash, cash equivalents, short-term and long-term investments and accounts receivable. The Company places its cash primarily in checking, certificate of deposit, and money market accounts with reputable financial institutions, and by policy, limits the amount of credit exposure with any one financial institution or commercial issuer. The Company’s accounts receivable are derived primarily from revenue earned from customers located in the U.S. and Asia. The Company performs ongoing credit evaluations of its customers’ financial condition and, generally, requires no collateral from its customers. The Company maintains an allowance for doubtful accounts receivable based upon the expected collectability of accounts receivable. There were no write offs of accounts receivable in the years ended March 31, 2018, 2017 or 2016.

At March 31, 2018, four customers accounted for 26%, 25%, 21%, and 13% of accounts receivable, and for the year then ended, four customers accounted for 35%, 16%, 16% and 13% of net revenues. At March 31, 2017, four customers accounted for 36%, 26%, 13%, and 10% of accounts receivable, and for the year then ended, four customers accounted for 26%, 20%, 20% and 10% of net revenues. For the year ended March 31, 2016, four customers accounted for 28%, 16%, 14% and 13% of net revenues.

Inventories

Inventories are stated at the lower of cost or net realizable value, cost being determined on a weighted average basis. Inventory write-down allowances are established when conditions indicate that the selling price could be less than cost due to physical deterioration, obsolescence, changes in price levels, or other causes. These allowances, once recorded, result in a new cost basis for the related inventory. These allowances are also considered for excess inventory generally based on inventory levels in excess of 12 months of forecasted demand, as estimated by management, for each specific product. The allowance is not reversed until the inventory is sold or disposed.

The Company recorded write-downs of excess and obsolete inventories of $1.6 million, $588,000 and $1.2 million, respectively, in fiscal 2018, 2017 and 2016.

Property and equipment, net

Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets as presented below:


Software		3 to 5 years
Computer and other equipment		5 to 10 years
Building and building improvements		10 to 25 years
Furniture and fixtures		7 years

Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful lives of the assets or the remaining lease term of the respective assets. Gains or losses on disposals of property and equipment are recorded within income from operations. Costs of repairs and maintenance are included as part of operating expenses unless they are incurred in relation to major improvements to existing property and equipment, at which time they are capitalized.

Impairment of long-lived assets

Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that their net book value may not be recoverable. If the sum of the expected future cash flows (undiscounted and before interest) from the use of the assets is less than the net book value of the asset an impairment could exist and the amount of the impairment loss, if any, will generally be measured as the difference between the net book value of the assets and their estimated fair values. There were no impairment losses recognized during the years ended March 31, 2018, 2017 or 2016.

Goodwill and intangible assets

Goodwill is not amortized but is tested for impairment on an annual basis or whenever events or changes in circumstances indicate that the carrying amount of these assets may not be recoverable.

The Company assesses goodwill for impairment on an annual basis on the last day of February in the fourth quarter of its fiscal year and if certain events or circumstances indicate that an impairment loss may have been incurred, on an interim basis. The Company has one reporting unit. In accordance with ASU 2011-08, Testing Goodwill for Impairment, qualitative factors can be assessed to determine whether it is necessary to perform the current two-step test for goodwill impairment. If an entity believes, as a result of its qualitative assessment, that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount, the quantitative impairment test is required. Otherwise, no further testing is required.

Intangible assets with finite useful lives are amortized over their estimated useful lives, generally on a straight-line basis over five to fifteen years. The Company reviews identifiable amortizable intangible assets for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Determination of recoverability is based on the lowest level of identifiable estimated undiscounted cash flows resulting from use of the asset and its eventual disposition. Measurement of any impairment loss is based on the excess of the carrying value of the asset over its fair value.

Research and development

Research and development expenses are related to new product designs, including, salaries, stock-based compensation, contractor fees, and allocation of corporate costs and are charged to the statement of operations as incurred.

Income taxes

The Company accounts for income taxes under the liability method, whereby deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to affect taxable income. Valuation allowances are established when it is more likely than not that the deferred tax asset will not be realized. Because the Company recorded a cumulative three-year loss on a U.S. tax basis for the year ended March 31, 2018 and 2017, the Company has recorded a tax provision reflecting a valuation allowance of its $5.9 million and $8.9 million of net deferred tax assets at March 31, 2018 and 2017, respectively.

Authoritative guidance prescribes a comprehensive model for how a company should recognize, measure, present, and disclose in its financial statements uncertain tax positions that the company has taken or expects to take on a tax return (including a decision whether to file or not to file a return in a particular jurisdiction). Under the guidance, the financial statements will reflect expected future tax consequences of such positions presuming the taxing authorities' full knowledge of the position and all relevant facts, but without considering time values. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation process, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement.

Shipping and handling costs

The Company records costs related to shipping and handling in cost of revenues.

Advertising expense

Advertising costs are charged to expense in the period incurred. Advertising expense was not material for the years ended March 31, 2018, 2017, and 2016, respectively.

Foreign currency transactions

The U.S. dollar is the functional currency for all of the Company’s foreign operations. Foreign currency transaction gains and losses, resulting from transactions denominated in currencies other than U.S. dollars are included in the Consolidated Statements of Operations. These gains and losses were not material for the years ended March 31, 2018, 2017 or 2016.

Segments

The Company operates as one segment for the design, development and sale of integrated circuits.

Accounting for stock-based compensation

Stock-based compensation expense recognized in the Consolidated Statement of Operations is based on options ultimately expected to vest, reduced by the amount of estimated forfeitures. The Company chose the straight-line method of allocating compensation cost over the requisite service period of the related award according to authoritative guidance. The Company calculates the expected term based on the historical average period of time that options were outstanding as adjusted for expected changes in future exercise patterns, which, for options granted in fiscal 2018, 2017 and 2016 resulted in an expected term of approximately five years. The Company uses its historical volatility to estimate expected volatility. The risk-free interest rate is based on the U.S. Treasury yields in effect at the time of grant for periods corresponding to the expected life of the options. The dividend yield is 0%, based on the fact that the Company has never paid dividends and has no present intention to pay dividends. Changes to these assumptions may have a significant impact on the results of operations.

Authoritative guidance requires cash flows, if any, resulting from the tax benefits from tax deductions in excess of the compensation cost recognized for those options (excess tax benefits) to be classified as financing cash flows in the Consolidated Statements of Cash Flows.

Comprehensive loss

Comprehensive loss is defined to include all changes in stockholders’ equity during a period except those resulting from investments by owners and distributions to owners. For the years ended March 31, 2018, 2017 and 2016, comprehensive loss was $4.6 million, $204,000 and $2.2 million, respectively.

Business combinations

The Company allocates the fair value of the purchase consideration of its acquisitions to the tangible assets, liabilities, and intangible assets acquired, based on their estimated fair values. Goodwill represents the excess of acquisition cost over the fair value of tangible and identified intangible net assets of businesses acquired. Transaction costs and costs to restructure the acquired company are expensed as incurred. The operating results of the acquired company are reflected in the Company’s consolidated financial statements after the closing date of the business combination. See Note 11 for additional information related to the acquisition of MikaMonu Group Ltd. in fiscal 2016.

Recent accounting pronouncements

In May 2017, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2017-09, “Scope of Modification Accounting”. ASU 2017-09 amends the scope of modification accounting for share-based payment arrangements and provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under ASC 718. This guidance clarifies that an entity will not apply modification accounting to a share-based payment award if all of the following are the same immediately before and after the change: (i) the fair value of the award, (ii) the vesting conditions of the award, and (iii) the classification of the award as an equity instrument or liability instrument. The Company adopted ASU 2017-09 in the quarter ended March 31, 2018. Implementation of this guidance did not have a material impact on the Company’s consolidated financial statements.

In January 2017, the FASB issued ASU No. 2017-04, "Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment". The standard eliminates the second step in the goodwill impairment test which requires an entity to determine the implied fair value of the reporting unit’s goodwill. Instead, an entity should recognize an impairment loss if the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, with the impairment loss not to exceed the amount of goodwill allocated to the reporting unit. The standard is effective for annual and interim goodwill impairment tests conducted in fiscal years beginning after December 15, 2019, with early adoption permitted. The Company does not anticipate the adoption of this guidance to have a material impact on its consolidated financial statements and related disclosures.

In November 2016, the FASB issued ASU No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash”. ASU 2016-18 requires entities to include in their cash and cash-equivalent balances in the statement of cash flows those amounts that are deemed to be restricted cash and restricted cash equivalents. As a result, companies will no longer present transfers between cash and cash equivalents, and restricted cash and restricted cash equivalents in the statement of cash flows. This standard is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years, with early adoption permitted. ASU 2016-18 is applied using the retrospective transition method for each period presented. The Company is currently evaluating the impact of this standard on its consolidated financial statements.

In October 2016, the FASB issued ASU 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” ASU 2016-16 requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs and eliminates the exception for an intra-entity transfer of an asset other than inventory. The Company adopted ASU 2016-16 in the quarter ended June 30, 2017. ASU 2016-16 is applied on a modified retrospective basis in the period of adoption. The adoption of this guidance resulted in a de-recognition of a prepaid tax asset of $595,000 related to a prior period intra-entity asset transfer, with an offsetting reduction to retained earnings. Because of the Company’s valuation allowance in the United States, there was no change to the Company’s net deferred tax assets. The de-recognition of the prepaid tax asset as of April 1, 2017 decreased the Company’s income tax expense in fiscal 2018 by $43,000.

In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments”. ASU 2016-15 adds or clarifies guidance on the classification of certain cash receipts and cash payments in the statement of cash flows. The amendments in the update provide guidance on eight specific cash flow issues, and are effective for annual and interim periods beginning after December 15, 2017. Early adoption is permitted, including adoption in an interim period. The Company adopted ASU 2016-15 in the quarter ended March 31, 2018. Implementation of this guidance did not have a material impact on the Company’s consolidated financial statements.

In June 2016, the FASB issued ASU 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” ASU 2016-13 replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. For trade and other receivables, loans, and other financial instruments, the Company will be required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses which reflects losses that are probable. Credit losses relating to available-for-sale debt securities will also be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted beginning April 1, 2019. Application of the amendments is through a cumulative-effect adjustment to retained earnings as of the effective date. The Company is currently evaluating the impact of this standard on its consolidated financial statements.

In March 2016, the FASB issued ASU 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The Company adopted ASU 2016-09 in the quarter ended June 30, 2017. The Company has elected to continue to estimate forfeitures as part of the compensation cost of equity awards. ASU 2016-09 is applied prospectively to all excess tax benefits and tax deficiencies resulting from settlements after the date of adoption. The adoption of ASU 2016-09 resulted in an increase to the net operating loss carryforward deferred tax asset and a corresponding increase in the valuation allowance of $654,000 attributable to excess tax benefits not previously recognized as they did not reduce income taxes payable.

In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” The core principle of Topic 842 is that a lessee should recognize the assets and liabilities that arise from leases. All leases create an asset and a liability for the lessee in accordance with FASB Concepts Statement No. 6, “Elements of Financial Statements,” and, therefore, recognition of those lease assets and lease liabilities represents a change of previous GAAP, which did not require lease assets and lease liabilities to be recognized for most leases. This ASU is effective for annual and interim periods beginning after December 15, 2018. Early adoption is permitted. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee have not significantly changed from previous GAAP. Although the Company is currently evaluating the impact the pronouncement will have on its consolidated financial statements and related disclosures, the Company expects that most of its operating lease commitments will be subject to the new standard and recognized as operating lease liabilities and right-of-use assets upon adoption.

In January 2016, the FASB issued ASU 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” ASU 2016-01 requires equity investments to be measured at fair value with changes in fair value recognized in net income and simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. The accounting standard update also updates certain presentation and disclosure requirements. This accounting standard update will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, and early adoption is permitted. The Company does not expect implementation of this accounting standard update to have a significant impact on its consolidated financial statements.

In July 2015, the FASB issued ASU 2015-11, “Simplifying the Measurement of Inventory.” This standard update intends to simplify the subsequent measurement of inventory, excluding inventory accounted for under the last-in, first-out or the retail inventory methods. The update replaces the current lower of cost or market test with a lower of cost and net realizable value test. Under the current guidance, market could be replacement cost, net realizable value or net realizable value less an approximately normal profit margin. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company adopted ASU 2015-11 in the quarter ended June 30, 2017. Implementation of this guidance did not have a material impact on the Company’s consolidated financial statements.

In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)" and has subsequently issued several supplemental and/or clarifying ASUs (collectively, "ASC 606"). The new accounting standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The new standard requires a company to recognize revenue as control of goods or services transfers to a customer at an amount that reflects the expected consideration to be received in exchange for those goods or services. It defines a five-step approach for recognizing revenue, which may require a company to use more judgment and make more estimates than under the current standard. The accounting standard is effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2017. The Company adopted ASC 606 on April 1, 2018 using the modified retrospective transition method.

The adoption of ASC 606 did not have a significant impact on the Company’s retained earnings as the timing of Company’s revenue recognition under the new standard coincides with the way the Company previously recognized revenue. The majority of the Company’s customer contracts, which may be in the form of purchase orders, contracts or purchase agreements, contain performance obligations for delivery of agreed upon products. Delivery of all performance obligations contained within a contract with a customer typically occurs at the same time (or within the same accounting period). Transfer of control typically occurs at the time of shipment or at the time the product is pulled from consignment as that is the point at which delivery has occurred, title and the risks and rewards of ownership have passed to the customer, and the Company has a right to payment. Thus, the Company will generally recognize revenue upon shipment of the product. The Company adjusts the transaction price for variable consideration. Variable consideration is not typically significant and primarily results from stock rotation rights provided to our distributors. As a practical expedient, the Company is recognizing the incremental costs of obtaining a contract, specifically commission expenses that have a period of benefit of less than twelve months, as an expense when incurred. Additionally, the Company will adopt an accounting policy to recognize shipping costs that occur after control transfers to the customer as a fulfillment activity.

The Company historically deferred recognition of revenue on shipments to its distributors because it lacked fixed and determinable pricing for contracts in which the distributors had rights to price concessions from the Company upon shipment to the distributors’ customers. During fiscal 2018, the Company revised all of its distribution agreements to eliminate the uncertainty in pricing, allowing the Company to recognize revenue at the time of shipment to the distributors. As a result, the implementation of the guidance did not have a significant impact on the Company’s consolidated financial statements. The Company is continuing to finalize its assessment of the impact that the new guidance will have on its business processes, internal controls and the additional disclosures which may be required upon the adoption of ASC 606.

3. BALANCE SHEET DETAIL

12 Months Ended

Mar. 31, 2018

BALANCE SHEET DETAIL

NOTE 3 - BALANCE SHEET DETAIL

NOTE 3—BALANCE SHEET DETAIL


	March 31,
	2018		2017
	(In thousands)
Inventories:
Work-in-progress	$	2,226	$	2,112
Finished goods		3,299		6,803
Inventory at distributors		22		296
	$	5,547	$	9,211


	March 31,
	2018		2017
	(In thousands)
Accounts receivable, net:
Accounts receivable	$	5,342	$	6,453
Less: Allowances for sales returns, doubtful accounts and other		(63)		(104)
	$	5,279	$	6,349


	March 31,
	2018		2017
	(In thousands)
Prepaid expenses and other current assets:
Prepaid tooling and masks	$	163	$	836
Prepaid income taxes		—		43
Escrow deposit		750		1,234
Other receivables		370		216
Other prepaid expenses and other current assets		797		448
	$	2,080	$	2,777


	March 31,
	2018		2017
	(In thousands)
Property and equipment, net:
Computer and other equipment	$	17,845	$	18,585
Software		4,072		4,793
Land		3,900		3,900
Building and building improvements		2,310		2,256
Furniture and fixtures		82		111
Leasehold improvements		766		715
Construction in progress		965		—
		29,940		30,360
Less: Accumulated depreciation		(21,768)		(22,671)
	$	8,172	$	7,689

Depreciation expense was $934,000, $1.2 million and $1.2 million for the years ended March 31, 2018, 2017 and 2016, respectively. The construction in progress relates to a facility expansion at our Sunnyvale headquarters that will be placed in service in the first quarter of fiscal 2019.


	March 31,
	2018		2017
	(In thousands)
Other assets:
Escrow deposit	$	1,000	$	1,750
Non-current deferred income taxes		75		22
Prepaid income taxes		—		552
Deposits		132		132
	$	1,207	$	2,456

The following table summarizes the components of intangible assets and related accumulated amortization balances at March 31, 2018 and 2017, respectively (in thousands):


	As of March 31, 2018
	Gross Carrying Amount		Accumulated amortization		Net Carrying Amount
Intangible assets:
Product designs	$	590	$	(590)	$	—
Patents		4,220		(1,231)		2,989
Software		80		(80)		—
Total	$	4,890	$	(1,901)	$	2,989


	As of March 31, 2017
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets:
Product designs	$	590	$	(590)	$	—
Patents		4,220		(918)		3,302
Software		80		(80)		—
Total	$	4,890	$	(1,588)	$	3,302

Amortization of intangible assets of $313,000, $349,000 and $242,000 was included in cost of revenues for the years ended March 31, 2018, 2017 and 2016, respectively.

As of March 31, 2018, the estimated future amortization expense of intangible assets in the table above is as follows (in thousands):


Twelve month period ending March 31,
2019	$	267
2020		233
2021		233
2022		233
2023		233
Thereafter		1,790
Total	$	2,989


	March 31,
	2018		2017
	(In thousands)
Accrued expenses and other liabilities:
Accrued compensation	$	2,786	$	3,990
Escrow indemnity accrual		—		484
Accrued professional fees		31		66
Accrued commissions		299		238
Contingent consideration		1,102		1,117
Accrued retention payment		291		251
Miscellaneous accrued expenses		933		905
	$	5,442	$	7,051


	March 31,
	2018		2017
	(In thousands)
Other accrued expenses:
Contingent consideration	$	4,411	$	5,083
Other long-term accrued liabilities		291		335
	$	4,702	$	5,418

5. INCOME TAXES

12 Months Ended

Mar. 31, 2018

INCOME TAXES

NOTE 5-INCOME TAXES

NOTE 5—INCOME TAXES

Loss before income taxes and the provision (benefit) for income taxes consists of the following:


	Year Ended March 31,
	2018		2017		2016
	(In thousands)
Loss before income taxes:
U.S.	$	(3,654)	$	(4,938)	$	(3,426)
Foreign		(408)		4,889		615
	$	(4,062)	$	(49)	$	(2,811)
Current income tax expense (benefit):
U.S. federal	$	367	$	(14)	$	(354)
Foreign		153		736		15
State		1		4		(289)
		521		726		(628)
Deferred income tax expense (benefit):
U.S. federal		(90)		14		(3)
Foreign		22		(674)		(10)
		(68)		(660)		(13)
Provision (benefit) for income taxes	$	453	$	66	$	(641)

The provision (benefit) for income tax differs from the amount of income tax determined by applying the applicable U.S. statutory income tax rate to pre-tax loss as follows:


	Year Ended March 31,
	2018		2017		2016
	(In thousands)
U.S. Federal taxes at statutory rate	$	(1,282)	$	(17)	$	(956)
State taxes, net of federal benefit		—		3		(204)
Deemed repatriation transfer tax		5,117		—		—
Deferred tax re-measurement, change in tax rates		1,093		—		—
Stock-based compensation		(124)		630		470
Tax credits		(417)		(398)		(539)
Foreign tax rate differential		390		(1,525)		(368)
Tax exempt interest		(8)		(5)		(9)
Non-deductible expenses and other		97		24		6
		4,866		(1,288)		(1,600)
Valuation allowance		(4,413)		1,354		959
	$	453	$	66	$	(641)

Deferred tax assets and deferred tax liabilities consist of the following:


	March 31,
	2018		2017
	(In thousands)
Deferred tax assets:
Deferred revenue	$	16	$	330
Tax credits		3,958		3,387
Net operating losses		104		2,264
Stock-based compensation		899		1,386
Property and equipment		268		425
Other reserves and accruals		743		1,167
Total deferred tax assets	$	5,988	$	8,959
Deferred tax liabilities:
Intangible assets	$	—	$	(13)
Total deferred tax liabilities	$	—	$	(13)

Net deferred tax assets	$	5,988	$	8,946
Valuation allowance		(5,913)		(8,939)
Net deferred tax asset	$	75	$	7

The Company currently intends to indefinitely reinvest earnings in operations outside the United States. No provision has been made for state income taxes that might be payable upon remittance of such earnings, nor is it practicable to determine the amount of such potential liability.

The long-term portion of the Company’s unrecognized tax benefits at March 31, 2018 and 2017 was $619,000 and $244,000, respectively, of which the timing of the resolution is uncertain. As of March 31, 2018 and 2017, $2.1 million and $2.5 million, respectively, of unrecognized tax benefits had been recorded as a reduction to net deferred tax assets. As of March 31, 2018, the Company’s net deferred tax assets of $6.0 million are subject to a valuation allowance of $5.9 million. It is possible, however, that some months or years may elapse before an uncertain position for which the Company has established a reserve is resolved. A reconciliation of unrecognized tax benefits is as follows:


	Year Ended March 31,
	2018		2017		2016
	(In thousands)
Unrecognized tax benefits, beginning of period	$	2,714	$	2,055	$	1,982
Additions based on tax positions related to current year		520		730		453
Additions based on tax positions related to prior years		—		—		183
2017 Tax Act and tax rate re-measurement		(499)		—		—
Lapses during the current year applicable to statutes of limitations		—		(71)		(563)
Unrecognized tax benefits, end of period	$	2,735	$	2,714	$	2,055

The unrecognized tax benefit balance as of March 31, 2018 of $601,000 would affect the Company’s effective tax rate if recognized.

On December 22, 2017, the “Tax Cuts and Jobs Act” ("H.R. 1") was signed into law, significantly impacting several sections of the Internal Revenue Code. Following the enactment of the H.R. 1, the SEC staff issued SAB 118, which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the H.R. 1 enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, the Company must reflect the income tax effects of those aspects of H.R. 1 for which the accounting under ASC 740 is complete. To the extent that the Company’s accounting for certain income tax effects of H.R. 1 is incomplete but the Company is able to determine a reasonable estimate, the Company must record a provisional estimate in the financial statements. If the Company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax law that were in effect immediately before the enactment of the H.R 1.

This new law includes significant changes to the U.S. corporate income tax system, including a permanent reduction in the corporate income tax rate from 35% to 21%, limitations on the deductibility of interest expense and executive compensation and the transition of U.S. international taxation from a worldwide tax system to a territorial tax system. We re-measured certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future. The re-measurement of our deferred tax balance of $1.1 million was offset by application of our valuation allowance. We have calculated our best estimate of the impact of H.R. 1 in the year end income tax provision, including the impact of the one-time transition tax, in accordance with our understanding of H.R. 1 and guidance available as of the date of this filing and have recorded a tax expense of $367,000 in the year ended March 31, 2018 related to the transition tax associated with deemed repatriation of foreign earnings. As the Company completes the analysis of H.R. 1, collects and prepares necessary data, and interprets any additional guidance, the Company may make adjustments to its initial assessment. Pursuant to Staff Accounting Bulletin No. 118, adjustments to the provisional amounts recorded by the Company as of March 31, 2018 that are identified within a subsequent measurement period of up to one year from the enactment date will be included as an adjustment to tax expense from continuing operations in the period the amounts are determined.

In addition, we recorded a deferred tax benefit related to a valuation allowance release of $101,000 as a result of provisions in the new legislation related to indefinite lived net operating loss carryovers and the refundability of minimum tax credit carryovers. Finally, the Company currently estimates that it will not have a liability for taxes currently payable at March 31, 2018 as a result of H.R. 1.

This original estimate may be materially impacted by a number of additional considerations, including but not limited to the issuance of the final regulations and the Company’s ongoing analysis of the new law.

H.R. 1 subjects a U.S. shareholder to tax on global intangible low-taxed income (GILTI) earned by certain foreign subsidiaries. The FASB Staff Q&A, Topic 740, No. 5, Accounting for Global Intangible Low-Taxed Income, states that an entity can make an accounting policy election to either recognize deferred taxes for temporary basis differences expected to reverse as GILTI in future years or provide for the tax expense related to GILTI in the year the tax is incurred. Given the complexity of the GILTI provisions, the Company is still evaluating the effects of the GILTI provisions and has not yet determined its accounting policy. At March 31, 2018, because the Company is still evaluating the GILTI provisions and its analysis of future taxable income that is subject to GILTI, it is unable to make a reasonable estimate and has not reflected any adjustments related to GILTI in its financial statements.

Management believes that within the next twelve months the Company will have no reduction in uncertain tax benefits, including interest and penalties, as a result of the lapse of statute of limitations.

The Company’s policy is to include interest and penalties related to unrecognized tax benefits within the provision (benefit) for income taxes in the Consolidated Statements of Operations.

The Company's federal and state net operating loss carryforwards for income tax purposes are approximately $0 and $2.3 million, respectively, at March 31, 2018. The Company's state tax net operating loss carryforwards expire beginning in 2034.

The Company's federal and state tax credit carryforwards for income tax purposes are approximately $1.8 million and $2.7 million respectively, at March 31, 2018. The Company's federal tax credit carryforwards expire beginning in 2033. The Company's state tax credit carryforwards have no expiration date.

The Company is subject to taxation in the United States and various state and foreign jurisdictions. As of March 31, 2018, the Company maintained a valuation allowance of $5.9 million for deferred tax assets that are not expected to be utilized in future years. Fiscal years 2012 through 2018 remain open to examination by the federal tax authorities and fiscal years 2011 through 2018 remain open to examination by the state of California.

6. FINANCIAL INSTRUMENTS

12 Months Ended

Mar. 31, 2018

FINANCIAL INSTRUMENTS

NOTE 6-FINANCIAL INSTRUMENTS

NOTE 6—FINANCIAL INSTRUMENTS

Fair value measurements

Authoritative accounting guidance for fair value measurements provides a framework for measuring fair value and related disclosure. The guidance applies to all financial assets and financial liabilities that are measured on a recurring basis. The guidance requires fair value measurement to be classified and disclosed in one of the following three categories:

Level 1: Valuations based on quoted prices in active markets for identical assets and liabilities. The fair value of available-for-sale securities included in the Level 1 category is based on quoted prices that are readily and regularly available in an active market. As of March 31, 2018, the Level 1 category included money market funds of $6.8 million, which were included in cash and cash equivalents on the Consolidated Balance Sheets.

Level 2: Valuations based on observable inputs (other than Level 1 prices), such as quoted prices for similar assets at the measurement date; quoted prices in markets that are not active; or other inputs that are observable, either directly or indirectly. The fair value of available-for-sale securities included in the Level 2 category is based on the market values obtained from an independent pricing service that were evaluated using pricing models that vary by asset class and may incorporate available trade, bid and other market information and price quotes from well-established independent pricing vendors and broker-dealers. As of March 31, 2018, the Level 2 category included short-term investments of $18.1 million and long term-investments of $7.9 million, which were primarily comprised of certificates of deposit and government and agency securities.

Level 3: Valuations based on inputs that are unobservable and involve management judgment and the reporting entity’s own assumptions about market participants and pricing. As of March 31, 2018, the Company’s Level 3 financial instruments measured at fair value on the Consolidated Balance Sheets consisted of the contingent consideration liability related to the MikaMonu acquisition. The contingent consideration liability is included in other accrued expenses on the Consolidated Balance Sheet at March 31, 2018 and 2017 in the amount of $4.4 million and $5.1 million, respectively, and is included in accrued expenses and other liabilities at March 31, 2018 and 2017 in the amount of $1.1 million.

Refer to Note 11, “Acquisition” for more information.

The fair value of financial assets measured on a recurring basis is as follows (in thousands):


			Fair Value Measurements at Reporting Date Using
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical Assets		Observable		Unobservable
			and Liabilities		Inputs		Inputs
	March 31, 2018		(Level 1)		(Level 2)		(Level 3)
Assets:
Money market funds	$	6,788	$	6,788	$	—	$	—
Marketable securities		26,047		—		26,047		—
Total	$	32,835	$	6,788	$	26,047	$	—

Liabilities:
Contingent consideration	$	5,514	$	—	$	—	$	5,514


			Fair Value Measurements at Reporting Date Using
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical Assets		Observable		Unobservable
			and Liabilities		Inputs		Inputs
	March 31, 2017		(Level 1)		(Level 2)		(Level 3)
Assets:
Money market funds	$	6,293	$	6,293	$	—	$	—
Marketable securities		29,097		—		29,097		—
Total	$	35,390	$	6,293	$	29,097	$	—

Liabilities:
Contingent consideration	$	6,200	$	—	$	—	$	6,200

The following table sets forth the changes in fair value of contingent consideration for the fiscal years ended March 31, 2018, 2017 and 2016, respectively:


	Year Ended March 31,
	2018		2017		2016
	(In thousands)
Contingent consideration, beginning of period	$	6,200	$	5,856	$	—
Acquisition of MikaMonu		—		—		5,800
Change due to accretion		158		161		56
Re-measurement of contingent consideration		(466)		183		—
Payment of contingent consideration		(378)		—		—
Contingent consideration, end of period	$	5,514	$	6,200	$	5,856

Short-term and long-term investments

All of the Company’s short-term and long-term investments are classified as available-for-sale. Available-for-sale debt securities with maturities greater than twelve months are classified as long-term investments when they are not intended for use in current operations. Investments in available-for-sale securities are reported at fair value with unrecognized gains (losses), net of tax, as a component of accumulated other comprehensive income (loss) on the Consolidated Balance Sheets. The Company had money market funds of $6.8 million and $6.3 million at March 31, 2018 and March 31, 2017, respectively, included in cash and cash equivalents on the Consolidated Balance Sheets. The Company monitors its investments for impairment periodically and records appropriate reductions in carrying values when the declines are determined to be other-than-temporary.

The following table summarizes the Company’s available-for-sale investments:


	March 31, 2018
			Gross		Gross
			Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In thousands)
Short-term investments:
Certificates of deposit	$	8,750	$	—	$	(28)	$	8,722
Foreign government obligations		5,428		—		(21)		5,407
Agency bonds		3,996		—		(1)		3,995
Total short-term investments	$	18,174	$	—	$	(50)	$	18,124
Long-term investments:
Certificates of deposit	$	8,000	$	—	$	(77)	$	7,923
Total long-term investments	$	8,000	$	—	$	(77)	$	7,923


	March 31, 2017
			Gross		Gross
			Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In thousands)
Short-term investments:
State and municipal obligations	$	1,632	$	1	$	—	$	1,633
Corporate notes		557		—		(2)		555
Agency bonds		3,012		—		(7)		3,005
Foreign government obligations		1,001		—		(1)		1,000
Certificates of deposit		10,000		9		(3)		10,006
Total short-term investments	$	16,202	$	10	$	(13)	$	16,199
Long-term investments:
Certificates of deposit	$	7,500	$	3	$	(39)	$	7,464
Foreign government obligations		5,442		—		(8)		5,434
Total long-term investments	$	12,942	$	3	$	(47)	$	12,898

The Company’s investment portfolio consists of both corporate and governmental securities that have a maximum maturity of three years. All unrealized gains and losses are due to changes in interest rates and bond yields. Subject to normal credit risks, the Company has the ability to realize the full value of all these investments upon maturity.

At March 31, 2018 and 2017, the deferred tax asset related to unrecognized gains and losses on short-term and long-term investments was $29,000 and $17,000, respectively.

As of March 31, 2018, contractual maturities of the Company’s available-for-sale investments were as follows:


			Fair
	Cost		Value
	(In thousands)
Maturing within one year	$	18,174	$	18,124
Maturing in one to three years		8,000		7,923
	$	26,174	$	26,047

9. STOCK- BASED COMPENSATION

12 Months Ended

Mar. 31, 2018

STOCK- BASED COMPENSATION

NOTE 9-STOCK- BASED COMPENSATION

NOTE 9—STOCK- BASED COMPENSATION

The 2007 Equity Incentive Plan

In January 2007, the Company’s board of directors approved the 2007 Equity Incentive Plan, (the “2007 Plan”), which was subsequently approved by the Company’s stockholders in March 2007. A total of 3,000,000 shares of common stock were authorized and reserved for issuance under the 2007 Plan. This reserve automatically increased on April 1 of each year through 2017 by an amount equal to the smaller of (a) five percent of the number of shares of common stock issued and outstanding on the immediately preceding March 31, or (b) a lesser amount determined by the board of directors. As described below, the 2007 Plan was terminated in August 2016 and no further awards may be granted pursuant to the 2007 Plan. In the event of a stock split or other change in the Company’s capital structure, appropriate adjustments will be made in the number of outstanding awards to prevent dilution or enlargement of participants’ rights.

Awards could be granted under the 2007 Plan to the Company’s employees, including officers, directors, or consultants or those of any present or future parent or subsidiary corporation or other affiliated entity. Options granted to non-officer employees generally vest at the rate of 25% on the first anniversary and subsequent anniversaries of the date of grant, while grants to officers vest in full four years after the anniversary date of the officer’s employment that is closest to the date of grant.

In the event of a change in control as described in the 2007 Plan, the acquiring or successor entity may assume or continue all or any awards outstanding under the 2007 Plan or substitute substantially equivalent awards. Any awards which are not assumed or continued in connection with a change in control or exercised or settled prior to the change in control will terminate effective as of the time of the change in control. The administrator may provide for the acceleration of vesting of any or all outstanding awards upon such terms and to such extent as it determines, except that the vesting of all nonemployee director awards will automatically be accelerated in full. The 2007 Plan also authorizes the administrator, in its discretion and without the consent of any participant, to cancel each or any outstanding award denominated in shares upon a change in control in exchange for a payment to the participant with respect to each vested share subject to the cancelled award of an amount equal to the excess of the consideration to be paid per share of common stock in the change in control transaction over the exercise price per share, if any, under the award.

The 2016 Equity Incentive Plan

In June 2016, the Company’s board of directors approved the 2016 Equity Incentive Plan, (the “2016 Plan”), which was subsequently approved by the Company’s stockholders in August 2016. In connection with the stockholders’ approval of the 2016 Plan, 6,000,000 shares available for future award under the 2007 Plan were transferred to the 2016 Plan, 705,699 shares available for grant under the 2007 plan were canceled and the 2007 Plan was terminated. The Company granted options under the 2007 Plan until August 2016, although it continues to govern the terms of options that remain outstanding under the 2007 Plan.

Appropriate and proportionate adjustments will be made to the number of shares authorized and other numerical limits in the 2016 Plan and to outstanding awards in the event of any change in the Company’s common stock through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares or similar change in the Company’s capital structure, or if the Company makes a distribution to its stockholders in a form other than common stock (excluding regular, periodic cash dividends) that has a material effect on the fair market value of the Company’s common stock. In such circumstances, the administrator also has the discretion under the 2016 Plan to adjust other terms of outstanding awards as it deems appropriate.

If any award granted under the 2016 Plan expires or otherwise terminates for any reason without having been exercised or settled in full, or if shares subject to forfeiture or repurchase are forfeited or repurchased by the Company for not more than the participant's purchase price, any such shares reacquired or subject to a terminated award will again become available for issuance under the 2016 Plan. Shares will not be treated as having been issued under the 2016 Plan and will therefore not reduce the number of shares available for issuance to the extent an award is settled in cash or to the extent that shares are withheld or reacquired by the Company in satisfaction of a tax withholding obligation. Upon the exercise of a stock appreciation right, tender of shares in payment of an option's exercise price or net-exercise of an option, the number of shares available under the 2016 Plan will be reduced by number of shares actually issued in settlement of the award.

To enable compensation provided in connection with certain types of awards intended to qualify as “performance-based” within the meaning of Section 162(m) of the Internal Revenue Code, the 2016 Plan establishes limits on the maximum aggregate number of shares or dollar value for which awards may be granted to an employee in any fiscal year, as follows:

No more than 300,000 shares subject to stock options and stock appreciation rights.

No more than 100,000 shares subject to restricted stock and restricted stock unit awards.

For each full fiscal year of the Company contained in the performance period of performance shares or performance unit awards, no more than 50,000 shares subject to performance share awards or more than $500,000 subject to performance unit awards.

For each full fiscal year of the Company contained in the performance period of cash-based or other stock-based awards, no more than $500,000 subject to cash-based awards or more than 50,000 shares subject to other stock-based awards.

Awards may be granted under the 2016 Plan to the Company’s employees, including officers, directors and consultants or those of any present or future parent or subsidiary corporation or other affiliated entity of the Company. To date, options granted to non-officer employees generally vest 25% on the first anniversary and subsequent anniversaries of the date of grant, while grants to officers vest in full four years after the anniversary date of the officer’s employment that is closest to the date of grant.

While the Company may grant incentive stock options only to employees, the Company may grant nonstatutory stock options, stock appreciation rights, restricted stock and stock units, performance shares and units, other stock-based awards and cash-based awards to any eligible participant. Non-employee director awards may be granted only to members of the Company’s board of directors who, at the time of grant, are not employees.

Only members of the board of directors who are not employees at the time of grant are eligible to participate in the nonemployee director awards component of the 2016 Plan. The board or the compensation committee shall set the amount and type of nonemployee director awards to be awarded on a periodic, non-discriminatory basis. Nonemployee director awards may be granted in the form of NSOs, stock appreciation rights, restricted stock awards and restricted stock unit awards. Subject to adjustment for changes in the Company's capital structure, no nonemployee director may be awarded, in any fiscal year, one or more nonemployee director awards for more than a number of shares determined by dividing $150,000 by the fair market value of a share of the Company’s stock determined on the last trading day immediately preceding the date on which the applicable nonemployee award is granted.

The 2016 Plan provides that, without the approval of a majority of the votes cast in person or by proxy at a meeting of the Company’s stockholders, the administrator may not provide for any of the following with respect to underwater options or stock appreciation rights: (1) either the cancellation of such outstanding options or stock appreciation rights in exchange for the grant of new options or stock appreciation rights at a lower exercise price or the amendment of outstanding options or stock appreciation rights to reduce the exercise price, (2) the issuance of new full value awards in exchange for the cancellation of such outstanding options or stock appreciation rights, or (3) the cancellation of such outstanding options or stock appreciation rights in exchange for payments in cash.

In the event of a change in control as described in the 2016 Plan, the surviving, continuing, successor or purchasing entity or its parent may, without the consent of any participant, either assume or continue outstanding awards or substitute substantially equivalent awards for its stock. If so determined by the Committee, stock-based awards will be deemed assumed if, for each share subject to the award prior to the change in control, its holder is given the right to receive the same amount of consideration that a stockholder would receive as a result of the change in control. Any awards which are not assumed or continued in connection with a change in control or exercised or settled prior to the change in control will terminate effective as of the time of the Change in Control. The administrator may provide for the acceleration of vesting or settlement of any or all outstanding awards upon such terms and to such extent as it determines, except that the vesting of all nonemployee director awards will automatically be accelerated in full. The 2016 Plan also authorizes the administrator, in its discretion and without the consent of any participant, to cancel each or any outstanding award denominated in shares of stock upon a change in control in exchange for a payment to the participant with respect each vested share (and each unvested share if so determined by the administrator) subject to the cancelled award of an amount equal to the excess of the consideration to be paid per share of common stock in the change in control transaction over the exercise or purchase price per share, if any, under the award.

The 2007 Employee Stock Purchase Plan

In January 2007, the board of directors approved the 2007 Employee Stock Purchase Plan (the “2007 Purchase Plan”) which was subsequently approved by the Company’s stockholders in March 2007. A total of 500,000 shares of the Company’s common stock was authorized and reserved for sale under the 2007 Purchase Plan. In addition, the 2007 Purchase Plan provides for an automatic annual increase in the number of shares available for issuance under the plan on April 1 of each year beginning in 2008 and continuing through and including April 1, 2017 equal to the lesser of (1) one percent of the number of issued and outstanding shares of common stock on the immediately preceding March 31, (2) 250,000 shares or (3) a number of shares as the board of directors may determine. Appropriate adjustments will be made in the number of authorized shares and in outstanding purchase rights to prevent dilution or enlargement of participants' rights in the event of a stock split or other change in our capital structure. Shares subject to purchase rights which expire or are canceled will again become available for issuance under the 2007 Purchase Plan.

The Company’s employees and employees of any parent or subsidiary corporation designated by the administrator will be eligible to participate in the 2007 Purchase Plan if they are customarily employed by us for more than 20 hours per week and more than five months in any calendar year. However, an employee may not be granted a right to purchase stock under the 2007 Purchase Plan if: (1) the employee immediately after such grant would own stock possessing 5% or more of the total combined voting power or value of all classes of our capital stock or of any parent or subsidiary corporation, or (2) the employee’s rights to purchase stock under all of our employee stock purchase plans would accrue at a rate that exceeds $25,000 in value for each calendar year of participation in such plans.

The 2007 Purchase Plan is designed to be implemented through a series of sequential offering periods, generally six (6) months in duration beginning on the first trading day on or after May 1 and November 1 of each year. The administrator is authorized to establish additional or alternative sequential or overlapping offering periods and offering periods having a different duration or different starting or ending dates, provided that no offering period may have a duration exceeding 27 months.

Amounts accumulated for each participant under the 2007 Purchase Plan are used to purchase shares of the Company’s common stock at the end of each offering period at a price generally equal to 85% of the lower of the fair market value of our common stock at the beginning of an offering period or at the end of the offering period. Prior to commencement of an offering period, the administrator is authorized to reduce, but not increase, this purchase price discount for that offering period, or, under circumstances described in the 2007 Purchase Plan, during that offering period. The maximum number of shares a participant may purchase in any six-month offering period is the lesser of (i) that number of shares determined by multiplying (x) 1,000 shares by (y) the number of months (rounded to the nearest whole month) in the offering period and rounding to the nearest whole share or (ii) that number of whole shares determined by dividing (x) the product of $2,083.33 and the number of months (rounded to the nearest whole month) in the offering period and rounding to the nearest whole dollar by (y) the fair market value of a share of our common stock at the beginning of the offering period. Prior to the beginning of any offering period, the administrator may alter the maximum number of shares that may be purchased by any participant during the offering period or specify a maximum aggregate number of shares that may be purchased by all participants in the offering period. If insufficient shares remain available under the plan to permit all participants to purchase the number of shares to which they would otherwise be entitled, the administrator will make a pro rata allocation of the available shares. Any amounts withheld from participants' compensation in excess of the amounts used to purchase shares will be refunded, without interest.

In the event of a change in control, an acquiring or successor corporation may assume our rights and obligations under the 2007 Purchase Plan. If the acquiring or successor corporation does not assume such rights and obligations, then the purchase date of the offering periods then in progress will be accelerated to a date prior to the change in control.

The following table summarizes stock option activities:


			Weighted
		Number of Shares	Average	Weighted
	Shares	Underlying	Remaining	Average
	Available for	Options	Contractual	Exercise		Intrinsic
	Grant	Outstanding	Life (Years)	Price		Value
Balance at March 31, 2015	6,213,943	6,774,151		$	5.16
Options reserved	1,156,419	—			—
Granted	(969,913)	969,913		$	4.42
Exercised	—	(76,745)		$	4.19	$	46,977
Forfeited	31,614	(41,614)		$	4.82
Balance at March 31, 2016	6,432,063	7,625,705		$	5.08
Options reserved	1,085,818	—			—
Terminated plan	(705,699)	—			—
Granted	(1,362,798)	1,362,798		$	5.14
Exercised	—	(391,039)		$	3.96	$	855,160
Forfeited	14,801	(974,634)		$	5.53
Balance at March 31, 2017	5,464,185	7,622,830		$	5.09
Granted	(1,029,684)	1,029,684		$	7.28
Exercised	—	(678,897)		$	4.22	$	2,460,812
Forfeited	9,800	(99,350)		$	5.06
Balance at March 31, 2018	4,444,301	7,874,267	5.59	$	5.45
Options vested and exercisable		4,813,309	3.87	$	5.25	$	10,598,173
Options vested and expected to vest		7,809,354	5.56	$	5.44	$	15,656,510

The options outstanding and by exercise price at March 31, 2018 are as follows:


				Number of	Options Outstanding			Options Exercisable
				Shares	Weighted		Weighted Average		Weighted
				Underlying	Average		Remaining	Number	Average
				Options	Exercise		Contractual	Vested and	Exercise
Exercise Price				Outstanding	Price		Life (Years)	Exercisable	Price
$	2.43	-	3.60	903,633	$	3.37	4.26	689,079	$	3.34
$	3.75	-	4.17	905,706	$	4.03	1.95	905,706	$	4.03
$	4.30	-	4.98	1,180,166	$	4.83	5.64	692,684	$	4.76
$	4.99	-	5.23	1,158,816	$	5.10	7.45	177,739	$	5.12
$	5.28	-	6.00	975,486	$	5.64	5.38	830,592	$	5.70
$	6.16	-	6.54	849,678	$	6.35	5.30	622,445	$	6.41
$	6.61	-	6.86	843,896	$	6.80	6.23	604,005	$	6.78
$	7.00	-	7.40	817,496	$	7.22	7.92	182,509	$	7.05
$	8.09			130,810	$	8.09	9.83	-	$	-
$	9.20			108,580	$	9.20	2.84	108,580	$	9.20
				7,874,267	$	5.45	5.59	4,813,339	$	5.25

Stock-based compensation

The Company recognized $2.1 million, $1.9 million and $1.9 million of stock-based compensation expense for the years ended March 31, 2018, 2017 and 2016, respectively, as follows:


	Year Ended March 31,
	2018		2017		2016
	(In thousands)
Cost of revenues	$	259	$	282	$	320
Research and development		1,141		980		858
Selling, general and administrative		670		615		672
Total	$	2,070	$	1,877	$	1,850

Stock-based compensation expense in the years ended March 31, 2018, 2017 and 2016 included $207,000, $150,000 and $136,000, respectively, related to the Company’s Employee Stock Purchase Plan.

No tax benefit was recognized in either fiscal 2018 or fiscal 2017 due to a full valuation allowance. There were no windfall tax benefits realized from exercised stock options recognized in fiscal 2018 or fiscal 2017. Compensation cost capitalized within inventory at March 31, 2018 and 2017 was not material. As of March 31, 2018, the Company’s total unrecognized compensation cost was $4.0 million, which will be recognized over the weighted average period of 2.02 years. The Company calculated the fair value of stock based awards in the periods presented using the Black-Scholes option pricing model and the following weighted average assumptions:


	Year Ended March 31,
	2018				2017				2016
	(In thousands)
Stock Option Plans:
Risk-free interest rate	1.84	-	2.49	%	1.12	-	1.95	%	1.41	-	1.57	%
Expected life (in years)			5.00				5.00				5.00
Volatility	35.5	-	36.5	%	33.3	-	35.4	%	36.3	-	38.0	%
Dividend yield			—	%			—	%			—	%
Employee Stock Purchase Plan:
Risk-free interest rate	0.38	-	0.45	%	0.38	-	0.45	%	0.09	-	0.15	%
Expected life (in years)			0.50				0.50				0.50
Volatility	30.8	-	39.6	%	30.8	-	39.6	%	26.3	-	27.9	%
Dividend yield			—	%			—	%			—	%

The weighted average fair value of options granted during the years ended March 31, 2018, 2017 and 2016 was $2.54, $1.66 and $1.52, respectively.

11. ACQUISITION

12 Months Ended

Mar. 31, 2018

ACQUISITION

NOTE 11-ACQUISITION

NOTE 11—ACQUISITION

On November 23, 2015, the Company acquired all of the outstanding capital stock of privately held MikaMonu Group Ltd. (“MikaMonu”), a development-stage, Israel-based company that specializes in in-place associative computing for markets including big data, computer vision and cyber security. MikaMonu, located in Tel Aviv, held 12 United States patents and a number of pending patent applications.

The acquisition was accounted for as a purchase under authoritative guidance for business combinations. The purchase price of the acquisition was allocated to the intangible assets acquired, with the excess of the purchase price over the fair value of assets acquired recorded as goodwill. The Company performs a goodwill impairment test in February of each fiscal year.

The results of operations of MikaMonu and the estimated fair value of the assets acquired were included in the Company’s consolidated financial statements beginning November 23, 2015.

Consideration

Under the terms of the acquisition agreement, the Company paid the former MikaMonu shareholders initial cash consideration of approximately $4.4 million at the closing on November 23, 2015. In addition, $484,000 was deposited in escrow to provide a fund for potential future indemnification claims by the Company. The majority of this escrow deposit, or $479,000, was paid to the former MikaMonu shareholders in May 2017.

The Company is also required to pay the former MikaMonu shareholders future contingent consideration consisting of retention payments and “earnout” payments, as described below.

The Company will make cash retention payments of up to an additional $2.5 million to the three former MikaMonu shareholders in installments over a four-year period, conditioned on the continued employment of Dr. Avidan Akerib, MikaMonu’s co-founder and chief technologist. The retention amount of $2.5 million has been deposited in escrow. Of this amount, $750,000 is included in prepaid expenses and other current assets, $1,000,000 is included in other assets on the Consolidated Balance Sheet at March 31, 2018 and $743,000 was paid to the former MikaMonu shareholders during the quarter ended December 31, 2017.

The Company will also make “earnout” payments to the former MikaMonu shareholders in cash or shares of the Company’s common stock, at the Company’s discretion, during a period of up to ten years following the closing if certain product development milestones and revenue targets for products based on the MikaMonu technology are achieved. Earnout amounts of $750,000 are payable at March 31, 2018 based on the achievement of certain product development milestones and are included in accrued expenses and other accrued liabilities on the Consolidated Balance Sheet. Additional earnout amounts of $2,750,000 and $4,000,000 will be payable if certain revenue milestones are achieved by January 1, 2021 and January 1, 2022, respectively; and additional payments, up to a maximum of $30 million, equal to 5% of net revenues from the sale of qualifying products in excess of certain thresholds, will be made quarterly through December 31, 2025.

The portion of the retention payment contingently payable to Dr. Akerib (approximately $1.2 million) will be recorded as compensation expense over the period that his services are provided to the Company. The portion of the retention payment contingently payable to the other former MikaMonu shareholders (approximately $1.3 million) plus the maximum amount of the potential earnout payments totals approximately $38.8 million. The Company determined that the fair value of this contingent consideration liability was $5.8 million at the acquisition date. The contingent consideration liability is included in other accrued expenses on the Consolidated Balance Sheet at March 31, 2018 and 2017 in the amount of $4.4 million and $5.1 million, respectively, and is included in accrued expenses and other liabilities at March 31, 2017 and 2018 in the amount of $1.1 million.

The fair value of the contingent consideration liability was initially determined as of the acquisition date using unobservable inputs. These inputs include the estimated amount and timing of future cash flows, the probability of success (achievement of the various contingent events) and a risk-adjusted discount rate of approximately 14.8% used to adjust the probability-weighted cash flows to their present value. Subsequent to the acquisition date, at each reporting period, the contingent consideration liability is re-measured to fair value with changes recorded in selling, general and administrative expenses in the Consolidated Statements of Operations. Re-measurement of the contingent consideration liability in fiscal 2018 resulted in a reduction in fair value for the year ended March 31, 2018 of $308,000.

Acquisition-related costs

Acquisition-related costs of approximately $426,000 are included in selling, general and administrative expenses in the Consolidated Statements of Operations for year ended March 31, 2016.

Purchase price allocation

The allocation of the purchase price to acquired identifiable intangible assets and goodwill was based on their estimated fair values at the date of acquisition. The fair value allocated to patents was $3.5 million and the residual amount allocated to goodwill was $8.0 million.

The fair value allocated to tangible and identifiable intangible assets and goodwill of MikaMonu acquired on November 23, 2015 was computed as follows (in thousands):


Cash and cash equivalents	$	1
Other receivables		54
Property and equipment, net		10
Intangible assets		3,500
Goodwill		8,030
Total assets acquired		11,595
Accrued expenses		(10)
Net deferred tax liability		(821)
Total liabilities assumed		(831)
Fair value of net assets acquired	$	10,764

The deferred tax liability associated with the estimated fair value adjustments of the intangible assets acquired is recorded at an estimated weighted average statutory tax rate in the jurisdictions where the fair value adjustments may occur.

Identifiable intangible assets

The following table sets forth the components of the identifiable intangible assets acquired in the MikaMonu acquisition, which are being amortized over their estimated useful lives on a straight-line basis:

The fair value of patents was determined using relief from royalty approach, which discounted expected future cash flows to present value. The cash flows were discounted at a rate of approximately 14.0%.

Prior to the closing of the acquisition, there were no material relationships between the Company and MikaMonu.

The following table summarizes total net revenues and net loss of the combined entity had the acquisition of MikaMonu occurred on April 1, 2014 (in thousands, except loss per share data):


	Year Ended March 31,
	2016
Pro forma net revenues	$	52,736
Pro forma net loss	$	(2,575)
Pro forma net loss per share, basic and diluted	$	(0.11)

The combined results in the table above have been prepared for comparative purposes only and include acquisition related adjustments for, among other items, the amortization of identifiable intangible assets. Since the acquisition date, the results of MikaMonu have been included in the Company’s consolidated financial statements. The combined results do not purport to be indicative of the results of operations which would have resulted had the acquisition been effected at the beginning of the applicable periods noted above, or the future results of operations of the combined entity.

13. QUARTERLY FINANCIAL DATA

12 Months Ended

Mar. 31, 2018

QUARTERLY FINANCIAL DATA

NOTE 13-QUARTERLY FINANCIAL DATA (Unaudited)

NOTE 13 —QUARTERLY FINANCIAL DATA (Unaudited)


	Three Months Ended
	June 30,		September 30,		December 31,		March 31,
	2017		2017		2017		2018
	(In thousands, except per share amounts)
Consolidated Statement of Operations Data:
Net revenues	$	10,687	$	9,647	$	11,118	$	11,191
Gross profit	$	5,604	$	4,858	$	5,675	$	6,289
Net income (loss)	$	(1,512)	$	(1,740)	$	(1,528)	$	265
Net Income (loss) per common share—Basic	$	(0.07)	$	(0.08)	$	(0.07)	$	0.01
Net Income (loss) per common share—Diluted	$	(0.07)	$	(0.08)	$	(0.07)	$	0.01


	Three Months Ended
	June 30,		September 30,		December 31,		March 31,
	2016		2016		2016		2017
	(In thousands, except per share amounts)
Consolidated Statement of Operations Data:
Net revenues	$	12,946	$	13,358	$	11,484	$	10,392
Gross profit	$	6,722	$	7,343	$	6,495	$	5,856
Net income (loss)	$	260	$	626	$	348	$	(1,349)
Net income (loss) per common share—Basic	$	0.01	$	0.03	$	0.02	$	(0.07)
Net income (loss) per common share—Diluted	$	0.01	$	0.03	$	0.02	$	(0.07)

1. THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Mar. 31, 2018

The Company And Summary Of Significant Accounting Policies

Accounting principles

The consolidated financial statements and accompanying notes were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

Basis of consolidation

Use of estimates

Risk and uncertainties

Revenue recognition

Cash and cash equivalents

Short-term and long-term investments

Concentration of credit risk

Inventories

The Company recorded write-downs of excess and obsolete inventories of $1.6 million, $588,000 and $1.2 million, respectively, in fiscal 2018, 2017 and 2016.

Property and equipment, net

Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets as presented below:


Software		3 to 5 years
Computer and other equipment		5 to 10 years
Building and building improvements		10 to 25 years
Furniture and fixtures		7 years

Impairment of long-lived assets

Goodwill and intangible assets

Goodwill is not amortized but is tested for impairment on an annual basis or whenever events or changes in circumstances indicate that the carrying amount of these assets may not be recoverable.

Research and development

Income taxes

Shipping and handling costs

The Company records costs related to shipping and handling in cost of revenues.

Advertising expense

Advertising costs are charged to expense in the period incurred. Advertising expense was not material for the years ended March 31, 2018, 2017, and 2016, respectively.

Foreign currency transactions

Segments

The Company operates as one segment for the design, development and sale of integrated circuits.

Accounting for stock-based compensation

Comprehensive loss

Business combinations

Recent accounting pronouncements

3. BALANCE SHEET DETAIL (Tables)

12 Months Ended

Mar. 31, 2018

BALANCE SHEET DETAIL

Schedule of Inventories


	March 31,
	2018		2017
	(In thousands)
Inventories:
Work-in-progress	$	2,226	$	2,112
Finished goods		3,299		6,803
Inventory at distributors		22		296
	$	5,547	$	9,211

Schedule of Accounts Receivable, Net


	March 31,
	2018		2017
	(In thousands)
Accounts receivable, net:
Accounts receivable	$	5,342	$	6,453
Less: Allowances for sales returns, doubtful accounts and other		(63)		(104)
	$	5,279	$	6,349

Schedule of Prepaid Expenses and Other Current Assets


	March 31,
	2018		2017
	(In thousands)
Prepaid expenses and other current assets:
Prepaid tooling and masks	$	163	$	836
Prepaid income taxes		—		43
Escrow deposit		750		1,234
Other receivables		370		216
Other prepaid expenses and other current assets		797		448
	$	2,080	$	2,777

Schedule of Property and Equipment, Net


	March 31,
	2018		2017
	(In thousands)
Property and equipment, net:
Computer and other equipment	$	17,845	$	18,585
Software		4,072		4,793
Land		3,900		3,900
Building and building improvements		2,310		2,256
Furniture and fixtures		82		111
Leasehold improvements		766		715
Construction in progress		965		—
		29,940		30,360
Less: Accumulated depreciation		(21,768)		(22,671)
	$	8,172	$	7,689

Schedule of Other Assets


	March 31,
	2018		2017
	(In thousands)
Other assets:
Escrow deposit	$	1,000	$	1,750
Non-current deferred income taxes		75		22
Prepaid income taxes		—		552
Deposits		132		132
	$	1,207	$	2,456

Schedule of Intangible Assets

The following table summarizes the components of intangible assets and related accumulated amortization balances at March 31, 2018 and 2017, respectively (in thousands):


	As of March 31, 2018
	Gross Carrying Amount		Accumulated amortization		Net Carrying Amount
Intangible assets:
Product designs	$	590	$	(590)	$	—
Patents		4,220		(1,231)		2,989
Software		80		(80)		—
Total	$	4,890	$	(1,901)	$	2,989


	As of March 31, 2017
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets:
Product designs	$	590	$	(590)	$	—
Patents		4,220		(918)		3,302
Software		80		(80)		—
Total	$	4,890	$	(1,588)	$	3,302

Estimated future amortization expense of intangible assets

As of March 31, 2018, the estimated future amortization expense of intangible assets in the table above is as follows (in thousands):


Twelve month period ending March 31,
2019	$	267
2020		233
2021		233
2022		233
2023		233
Thereafter		1,790
Total	$	2,989

Schedule of Accrued Expenses and Other Liabilities


	March 31,
	2018		2017
	(In thousands)
Accrued expenses and other liabilities:
Accrued compensation	$	2,786	$	3,990
Escrow indemnity accrual		—		484
Accrued professional fees		31		66
Accrued commissions		299		238
Contingent consideration		1,102		1,117
Accrued retention payment		291		251
Miscellaneous accrued expenses		933		905
	$	5,442	$	7,051

Other Accrued Expenses


	March 31,
	2018		2017
	(In thousands)
Other accrued expenses:
Contingent consideration	$	4,411	$	5,083
Other long-term accrued liabilities		291		335
	$	4,702	$	5,418

5. INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2018

INCOME TAXES

Loss before provision (benefit) for income taxes


	Year Ended March 31,
	2018		2017		2016
	(In thousands)
Loss before income taxes:
U.S.	$	(3,654)	$	(4,938)	$	(3,426)
Foreign		(408)		4,889		615
	$	(4,062)	$	(49)	$	(2,811)
Current income tax expense (benefit):
U.S. federal	$	367	$	(14)	$	(354)
Foreign		153		736		15
State		1		4		(289)
		521		726		(628)
Deferred income tax expense (benefit):
U.S. federal		(90)		14		(3)
Foreign		22		(674)		(10)
		(68)		(660)		(13)
Provision (benefit) for income taxes	$	453	$	66	$	(641)

Income tax reconciliation


	Year Ended March 31,
	2018		2017		2016
	(In thousands)
U.S. Federal taxes at statutory rate	$	(1,282)	$	(17)	$	(956)
State taxes, net of federal benefit		—		3		(204)
Deemed repatriation transfer tax		5,117		—		—
Deferred tax re-measurement, change in tax rates		1,093		—		—
Stock-based compensation		(124)		630		470
Tax credits		(417)		(398)		(539)
Foreign tax rate differential		390		(1,525)		(368)
Tax exempt interest		(8)		(5)		(9)
Non-deductible expenses and other		97		24		6
		4,866		(1,288)		(1,600)
Valuation allowance		(4,413)		1,354		959
	$	453	$	66	$	(641)

Deferred tax assets and deferred tax liabilities


	March 31,
	2018		2017
	(In thousands)
Deferred tax assets:
Deferred revenue	$	16	$	330
Tax credits		3,958		3,387
Net operating losses		104		2,264
Stock-based compensation		899		1,386
Property and equipment		268		425
Other reserves and accruals		743		1,167
Total deferred tax assets	$	5,988	$	8,959
Deferred tax liabilities:
Intangible assets	$	—	$	(13)
Total deferred tax liabilities	$	—	$	(13)

Net deferred tax assets	$	5,988	$	8,946
Valuation allowance		(5,913)		(8,939)
Net deferred tax asset	$	75	$	7

Unrecognized tax benefits


	Year Ended March 31,
	2018		2017		2016
	(In thousands)
Unrecognized tax benefits, beginning of period	$	2,714	$	2,055	$	1,982
Additions based on tax positions related to current year		520		730		453
Additions based on tax positions related to prior years		—		—		183
2017 Tax Act and tax rate re-measurement		(499)		—		—
Lapses during the current year applicable to statutes of limitations		—		(71)		(563)
Unrecognized tax benefits, end of period	$	2,735	$	2,714	$	2,055

6. FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Mar. 31, 2018

FINANCIAL INSTRUMENTS

Schedule of fair value of financial assets measured on a recurring basis

The fair value of financial assets measured on a recurring basis is as follows (in thousands):


			Fair Value Measurements at Reporting Date Using
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical Assets		Observable		Unobservable
			and Liabilities		Inputs		Inputs
	March 31, 2018		(Level 1)		(Level 2)		(Level 3)
Assets:
Money market funds	$	6,788	$	6,788	$	—	$	—
Marketable securities		26,047		—		26,047		—
Total	$	32,835	$	6,788	$	26,047	$	—

Liabilities:
Contingent consideration	$	5,514	$	—	$	—	$	5,514


			Fair Value Measurements at Reporting Date Using
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical Assets		Observable		Unobservable
			and Liabilities		Inputs		Inputs
	March 31, 2017		(Level 1)		(Level 2)		(Level 3)
Assets:
Money market funds	$	6,293	$	6,293	$	—	$	—
Marketable securities		29,097		—		29,097		—
Total	$	35,390	$	6,293	$	29,097	$	—

Liabilities:
Contingent consideration	$	6,200	$	—	$	—	$	6,200

Schedule of available-for-sale investments


	March 31, 2018
			Gross		Gross
			Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In thousands)
Short-term investments:
Certificates of deposit	$	8,750	$	—	$	(28)	$	8,722
Foreign government obligations		5,428		—		(21)		5,407
Agency bonds		3,996		—		(1)		3,995
Total short-term investments	$	18,174	$	—	$	(50)	$	18,124
Long-term investments:
Certificates of deposit	$	8,000	$	—	$	(77)	$	7,923
Total long-term investments	$	8,000	$	—	$	(77)	$	7,923


	March 31, 2017
			Gross		Gross
			Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In thousands)
Short-term investments:
State and municipal obligations	$	1,632	$	1	$	—	$	1,633
Corporate notes		557		—		(2)		555
Agency bonds		3,012		—		(7)		3,005
Foreign government obligations		1,001		—		(1)		1,000
Certificates of deposit		10,000		9		(3)		10,006
Total short-term investments	$	16,202	$	10	$	(13)	$	16,199
Long-term investments:
Certificates of deposit	$	7,500	$	3	$	(39)	$	7,464
Foreign government obligations		5,442		—		(8)		5,434
Total long-term investments	$	12,942	$	3	$	(47)	$	12,898

Schedule of contractual maturities of the available-for-sale investments


			Fair
	Cost		Value
	(In thousands)
Maturing within one year	$	18,174	$	18,124
Maturing in one to three years		8,000		7,923
	$	26,174	$	26,047

Schedule of changes in fair value of contingent consideration


	Year Ended March 31,
	2018		2017		2016
	(In thousands)
Contingent consideration, beginning of period	$	6,200	$	5,856	$	—
Acquisition of MikaMonu		—		—		5,800
Change due to accretion		158		161		56
Re-measurement of contingent consideration		(466)		183		—
Payment of contingent consideration		(378)		—		—
Contingent consideration, end of period	$	5,514	$	6,200	$	5,856

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

9. STOCK- BASED COMPENSATION (Tables)

12 Months Ended

Mar. 31, 2018

STOCK- BASED COMPENSATION

Summary of stock option activities


			Weighted
		Number of Shares	Average	Weighted
	Shares	Underlying	Remaining	Average
	Available for	Options	Contractual	Exercise		Intrinsic
	Grant	Outstanding	Life (Years)	Price		Value
Balance at March 31, 2015	6,213,943	6,774,151		$	5.16
Options reserved	1,156,419	—			—
Granted	(969,913)	969,913		$	4.42
Exercised	—	(76,745)		$	4.19	$	46,977
Forfeited	31,614	(41,614)		$	4.82
Balance at March 31, 2016	6,432,063	7,625,705		$	5.08
Options reserved	1,085,818	—			—
Terminated plan	(705,699)	—			—
Granted	(1,362,798)	1,362,798		$	5.14
Exercised	—	(391,039)		$	3.96	$	855,160
Forfeited	14,801	(974,634)		$	5.53
Balance at March 31, 2017	5,464,185	7,622,830		$	5.09
Granted	(1,029,684)	1,029,684		$	7.28
Exercised	—	(678,897)		$	4.22	$	2,460,812
Forfeited	9,800	(99,350)		$	5.06
Balance at March 31, 2018	4,444,301	7,874,267	5.59	$	5.45
Options vested and exercisable		4,813,309	3.87	$	5.25	$	10,598,173
Options vested and expected to vest		7,809,354	5.56	$	5.44	$	15,656,510

Schedule of options outstanding by exercise price


				Number of	Options Outstanding			Options Exercisable
				Shares	Weighted		Weighted Average		Weighted
				Underlying	Average		Remaining	Number	Average
				Options	Exercise		Contractual	Vested and	Exercise
Exercise Price				Outstanding	Price		Life (Years)	Exercisable	Price
$	2.43	-	3.60	903,633	$	3.37	4.26	689,079	$	3.34
$	3.75	-	4.17	905,706	$	4.03	1.95	905,706	$	4.03
$	4.30	-	4.98	1,180,166	$	4.83	5.64	692,684	$	4.76
$	4.99	-	5.23	1,158,816	$	5.10	7.45	177,739	$	5.12
$	5.28	-	6.00	975,486	$	5.64	5.38	830,592	$	5.70
$	6.16	-	6.54	849,678	$	6.35	5.30	622,445	$	6.41
$	6.61	-	6.86	843,896	$	6.80	6.23	604,005	$	6.78
$	7.00	-	7.40	817,496	$	7.22	7.92	182,509	$	7.05
$	8.09			130,810	$	8.09	9.83	-	$	-
$	9.20			108,580	$	9.20	2.84	108,580	$	9.20
				7,874,267	$	5.45	5.59	4,813,339	$	5.25

Summary of stock-based compensation expense by line item


	Year Ended March 31,
	2018		2017		2016
	(In thousands)
Cost of revenues	$	259	$	282	$	320
Research and development		1,141		980		858
Selling, general and administrative		670		615		672
Total	$	2,070	$	1,877	$	1,850

Schedule of weighted average assumptions


	Year Ended March 31,
	2018				2017				2016
	(In thousands)
Stock Option Plans:
Risk-free interest rate	1.84	-	2.49	%	1.12	-	1.95	%	1.41	-	1.57	%
Expected life (in years)			5.00				5.00				5.00
Volatility	35.5	-	36.5	%	33.3	-	35.4	%	36.3	-	38.0	%
Dividend yield			—	%			—	%			—	%
Employee Stock Purchase Plan:
Risk-free interest rate	0.38	-	0.45	%	0.38	-	0.45	%	0.09	-	0.15	%
Expected life (in years)			0.50				0.50				0.50
Volatility	30.8	-	39.6	%	30.8	-	39.6	%	26.3	-	27.9	%
Dividend yield			—	%			—	%			—	%

13. QUARTERLY FINANCIAL DATA (Tables)

12 Months Ended

Mar. 31, 2018

QUARTERLY FINANCIAL DATA

Schedule of quarterly financial data


	Three Months Ended
	June 30,		September 30,		December 31,		March 31,
	2017		2017		2017		2018
	(In thousands, except per share amounts)
Consolidated Statement of Operations Data:
Net revenues	$	10,687	$	9,647	$	11,118	$	11,191
Gross profit	$	5,604	$	4,858	$	5,675	$	6,289
Net income (loss)	$	(1,512)	$	(1,740)	$	(1,528)	$	265
Net Income (loss) per common share—Basic	$	(0.07)	$	(0.08)	$	(0.07)	$	0.01
Net Income (loss) per common share—Diluted	$	(0.07)	$	(0.08)	$	(0.07)	$	0.01


	Three Months Ended
	June 30,		September 30,		December 31,		March 31,
	2016		2016		2016		2017
	(In thousands, except per share amounts)
Consolidated Statement of Operations Data:
Net revenues	$	12,946	$	13,358	$	11,484	$	10,392
Gross profit	$	6,722	$	7,343	$	6,495	$	5,856
Net income (loss)	$	260	$	626	$	348	$	(1,349)
Net income (loss) per common share—Basic	$	0.01	$	0.03	$	0.02	$	(0.07)
Net income (loss) per common share—Diluted	$	0.01	$	0.03	$	0.02	$	(0.07)

1. THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - PP&E (Details)	12 Months Ended
	Mar. 31, 2018 USD ($) segment	Mar. 31, 2017 USD ($)	Mar. 31, 2016 USD ($)
Property and equipment, net:
Impairment losses on long-lived equipment	$ 0	$ 0	$ 0
Inventories
Minimum months to determine excess inventory	12 months
Inventory Write-down	$ 1,561,000	588,000	1,172,000
Segments
Number of Reportable Segments \| segment	1
Operating segments \| segment	1
Accounting for stock-based compensation
Expected life	5 years
Dividend yield (as a percent)	0.00%
Comprehensive income (loss)	$ (4,595,000)	(204,000)	$ (2,169,000)
Income taxes
Valuation allowance	$ 5,913,000	$ 8,939,000
Minimum
Property and equipment, net:
Useful life, intangible assets	5 years
Maximum
Property and equipment, net:
Useful life, intangible assets	15 years
Software \| Minimum
Property and equipment, net:
Useful life, property and equipment	3 years
Software \| Maximum
Property and equipment, net:
Useful life, property and equipment	5 years
Computer and other equipment \| Minimum
Property and equipment, net:
Useful life, property and equipment	5 years
Computer and other equipment \| Maximum
Property and equipment, net:
Useful life, property and equipment	10 years
Building and building improvements \| Minimum
Property and equipment, net:
Useful life, property and equipment	10 years
Building and building improvements \| Maximum
Property and equipment, net:
Useful life, property and equipment	25 years
Furniture and fixtures
Property and equipment, net:
Useful life, property and equipment	7 years

5. INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
5. INCOME TAXES (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Loss before income taxes:
U.S.	$ (3,654)	$ (4,938)	$ (3,426)
Foreign	(408)	4,889	615
Loss before income taxes	(4,062)	(49)	(2,811)
Current income tax expense (benefit):
U.S. federal	367	(14)	(354)
Foreign	153	736	15
State	1	4	(289)
Current income tax expense (benefit)	521	726	(628)
Deferred income tax expense (benefit):
U.S. federal	(90)	14	(3)
Foreign	22	(674)	(10)
Deferred income tax expense (benefit)	(68)	(660)	(13)
Provision (benefit) for income taxes	$ 453	$ 66	$ (641)

5. INCOME TAXES - Deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Deferred tax assets:
Deferred revenue	$ 16	$ 330
Tax credits	3,958	3,387
Net operating loss carryforwards	104	2,264
Stock-based compensation	899	1,386
Property and equipment	268	425
Other reserves and accruals	743	1,167
Total deferred tax assets	5,988	8,959
Deferred tax liabilities:
Intangible assets		(13)
Total deferred tax liabilities		(13)
Net deferred tax assets	5,988	8,946
Valuation allowance	(5,913)	(8,939)
Net deferred tax assets	75	$ 7
Deferred tax liabilities, undistributed foreign earnings	$ 0

9. STOCK- BASED COMPENSATION (Details)	1 Months Ended	12 Months Ended
9. STOCK- BASED COMPENSATION (Details)	Jun. 30, 2016 shares	Mar. 31, 2018 USD ($) item shares	Mar. 31, 2017 shares	Mar. 31, 2016 shares	Mar. 31, 2007 shares
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)		1,029,684	1,362,798	969,913
2007 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Maximum shares authorized					3,000,000
Maximum annual plan shares authorized reserve increase percentage		5.00%
Granted (in shares)		0
2007 Equity Incentive Plan \| Non Officer Employee
Share-based Compensation Arrangement by Share-based Payment Award
Vesting percentage		25.00%
2007 Equity Incentive Plan \| Officer
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period		4 years
2016 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares available for future award	6,000,000
Previously authorized shares cancelled (in shares)	705,699
Maximum shares subject to stock options and stock appreciation rights granted per employee per fiscal year		300,000
Maximum shares subject to stock restricted stock and restricted stock unit awards granted per employee per fiscal year		100,000
Maximum shares subject to performance share awards granted per employee per fiscal year		50,000
Maximum amount subject to performance unit awards granted per employee per fiscal year \| $		$ 500,000
Maximum shares subject to cash based or other stock-based awards granted per employee per fiscal year		50,000
Maximum amount subject to cash based or other stock based awards granted per employee per fiscal year \| $		$ 500,000
2016 Equity Incentive Plan \| Non Officer Employee
Share-based Compensation Arrangement by Share-based Payment Award
Vesting percentage		25.00%
2016 Equity Incentive Plan \| Officer
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period		4 years
2016 Equity Incentive Plan \| Director
Share-based Compensation Arrangement by Share-based Payment Award
Maximum total fair market value of a share \| $		$ 150,000
2007 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award
Maximum shares authorized					500,000
Maximum annual plan shares authorized reserve increase percentage		1.00%
Maximum annual plan shares authorized reserve share increase		250,000
Minimum hours to work per week to qualify for the Employee Stock Purchase Plan \| item		20
Minimum number of months per year needed to work to qualify for the Employee Stock Purchase Plan		5 months
Maximum percentage stock ownership to qualify for the Employee Stock Purchase Plan		5.00%
Maximum annual purchase rights per employee per year to enable granting of additional rights \| $		$ 25,000
Offering period length		6 months
Exercise price percentage of fair value of shares		85.00%
Maximum share purchase per employee per offering period number of shares multiplier		1,000
Maximum share purchase per employee per offering period value multiplier		2,083.33
2007 Employee Stock Purchase Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Offering period length		27 months

9. STOCK- BASED COMPENSATION - Stock options activities (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
STOCK- BASED COMPENSATION
Shares available for grant, Beginning	5,464,185	6,432,063	6,213,943
Options reserved (in shares)		1,085,818	1,156,419
Terminated plan (in shares)		(705,699)
Granted (in shares)	(1,029,684)	(1,362,798)	(969,913)
Forfeited (in shares)	9,800	14,801	31,614
Shares available for grant, Ending	4,444,301	5,464,185	6,432,063
Number of Shares Underlying Options Outstanding
Balance at the beginning of the period (in shares)	7,622,830	7,625,705	6,774,151
Granted (in shares)	1,029,684	1,362,798	969,913
Exercised (in shares)	(678,897)	(391,039)	(76,745)
Forfeited (in shares)	(99,350)	(974,634)	(41,614)
Balance at the end of the period (in shares)	7,874,267	7,622,830	7,625,705
Options vested and exercisable (in shares)	4,813,309
Options vested and expected to vest (in shares)	7,809,354
Weighted Average Remaining Contractual Life
Options weighted average remaining contractual life	5 years 7 months 2 days
Options vested and exercisable	3 years 10 months 13 days
Options vested and expected to vest	5 years 6 months 22 days
Weighted Average Exercise Price
Balance at the beginning of the period (in dollars per share)	$ 5.09	$ 5.08	$ 5.16
Granted (in dollars per share)	7.28	5.14	4.42
Exercised (in dollars per share)	4.22	3.96	4.19
Forfeited (in dollars per share)	5.06	5.53	4.82
Balance at the end of the period (in dollars per share)	5.45	$ 5.09	$ 5.08
Options vested and exercisable (in dollars per share)	5.25
Options vested and expected to vest (in dollars per share)	$ 5.44
Intrinsic Value
Exercised (in dollars)	$ 2,460,812	$ 855,160	$ 46,977
Options vested and exercisable (in dollars)	10,598,173
Options vested and expected to vest (in dollars)	$ 15,656,510

9. STOCK- BASED COMPENSATION - Options outstanding by exercise price (Details) - $ / shares	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Options outstanding by exercise price
Exercise Price (in dollars per share)	$ 5.45	$ 5.09	$ 5.08	$ 5.16
Number of Shares Underlying Options Outstanding (in shares)	7,874,267
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 5.45
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 7 months 2 days
Options Exercisable, Number Vested and Exercisable (in shares)	4,813,339
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 5.25
$2.43 - $3.60
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	2.43
Exercise Price, high end of range (in dollars per share)	$ 3.60
Number of Shares Underlying Options Outstanding (in shares)	903,633
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 3.37
Options Outstanding, Weighted Average Remaining Contractual Life	4 years 3 months 4 days
Options Exercisable, Number Vested and Exercisable (in shares)	689,079
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 3.34
$3.75 - $4.17
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	3.75
Exercise Price, high end of range (in dollars per share)	$ 4.17
Number of Shares Underlying Options Outstanding (in shares)	905,706
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 4.03
Options Outstanding, Weighted Average Remaining Contractual Life	1 year 11 months 12 days
Options Exercisable, Number Vested and Exercisable (in shares)	905,706
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 4.03
$4.30 - $4.98
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	4.30
Exercise Price, high end of range (in dollars per share)	$ 4.98
Number of Shares Underlying Options Outstanding (in shares)	1,180,166
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 4.83
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 7 months 21 days
Options Exercisable, Number Vested and Exercisable (in shares)	692,684
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 4.76
$4.99 - $5.23
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	4.99
Exercise Price, high end of range (in dollars per share)	$ 5.23
Number of Shares Underlying Options Outstanding (in shares)	1,158,816
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 5.10
Options Outstanding, Weighted Average Remaining Contractual Life	7 years 5 months 12 days
Options Exercisable, Number Vested and Exercisable (in shares)	177,739
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 5.12
$5.28 - $6.00
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	5.28
Exercise Price, high end of range (in dollars per share)	$ 6.00
Number of Shares Underlying Options Outstanding (in shares)	975,486
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 5.64
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 4 months 17 days
Options Exercisable, Number Vested and Exercisable (in shares)	830,592
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 5.70
$6.16 - $6.54
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	6.16
Exercise Price, high end of range (in dollars per share)	$ 6.54
Number of Shares Underlying Options Outstanding (in shares)	849,678
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 6.35
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 3 months 18 days
Options Exercisable, Number Vested and Exercisable (in shares)	622,445
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 6.41
$6.61 - $6.86
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	6.61
Exercise Price, high end of range (in dollars per share)	$ 6.86
Number of Shares Underlying Options Outstanding (in shares)	843,896
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 6.80
Options Outstanding, Weighted Average Remaining Contractual Life	6 years 2 months 23 days
Options Exercisable, Number Vested and Exercisable (in shares)	604,005
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 6.78
$7.00 - $7.40
Options outstanding by exercise price
Exercise Price, low end of range (in dollars per share)	7.00
Exercise Price, high end of range (in dollars per share)	$ 7.40
Number of Shares Underlying Options Outstanding (in shares)	817,496
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 7.22
Options Outstanding, Weighted Average Remaining Contractual Life	7 years 11 months 1 day
Options Exercisable, Number Vested and Exercisable (in shares)	182,509
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 7.05
$8.09
Options outstanding by exercise price
Exercise Price (in dollars per share)	$ 8.09
Number of Shares Underlying Options Outstanding (in shares)	130,810
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 8.09
Options Outstanding, Weighted Average Remaining Contractual Life	9 years 9 months 29 days
$9.20
Options outstanding by exercise price
Exercise Price (in dollars per share)	$ 9.20
Number of Shares Underlying Options Outstanding (in shares)	108,580
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 9.20
Options Outstanding, Weighted Average Remaining Contractual Life	2 years 10 months 2 days
Options Exercisable, Number Vested and Exercisable (in shares)	108,580
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 9.20

11. ACQUISITION (Details)		1 Months Ended	3 Months Ended	12 Months Ended
11. ACQUISITION (Details)	Nov. 23, 2015 USD ($) employee patent	May 31, 2017 USD ($)	Dec. 31, 2017 USD ($)	Mar. 31, 2018 USD ($)	Mar. 31, 2016 USD ($) $ / shares	Mar. 31, 2017 USD ($)
Acquisition disclosure
Cash paid for acquisition					$ 4,359,000
Assets acquired and liabilities assumed
Goodwill				$ 7,978,000		$ 7,978,000
Other accrued expenses
Acquisition disclosure
Contingent consideration liability				4,400,000		5,100,000
Accrued expenses and other liabilities
Acquisition disclosure
Contingent consideration liability				1,100,000		1,100,000
MikaMonu
Acquisition disclosure
Cash paid for acquisition	$ 4,400,000
Amount of payment held in escrow	484,000
Payment of escrow deposit		$ 479,000	$ 743,000
Potential cash retention payments	$ 2,500,000
Number of former shareholders receiving retention payments \| employee	3
Term of additional retention payments	4 years
Discount rate (as a percent)	14.80%
Change in contingent consideration liability				(308,000)
Assets acquired and liabilities assumed
Cash and cash equivalents	$ 1,000
Other receivables	54,000
Property and equipment, net	10,000
Intangible assets	3,500,000
Goodwill	8,030,000
Total assets acquired	11,595,000
Accrued expenses	(10,000)
Net deferred tax liability	(821,000)
Total liabilities assumed	(831,000)
Fair value of net assets acquired	$ 10,764,000
Pro forma financial information
Pro forma net revenues					52,736,000
Pro forma net loss					$ (2,575,000)
Pro forma net loss per share, basic and diluted \| $ / shares					$ (0.11)
MikaMonu \| Patents
Acquisition disclosure
Discount rate (as a percent)	14.00%
Assets acquired and liabilities assumed
Intangible assets	$ 3,500,000
Useful life	15 years
MikaMonu \| Selling, general and administrative
Acquisition disclosure
Acquisition related costs					$ 426,000
MikaMonu \| Other assets
Acquisition disclosure
Amount of payment held in escrow				1,000,000
MikaMonu \| Prepaid expenses and other current assets
Acquisition disclosure
Amount of payment held in escrow				750,000
MikaMonu \| Other accrued expenses
Acquisition disclosure
Contingent consideration liability	$ 5,800,000			4,400,000		5,100,000
MikaMonu \| Accrued expenses and other liabilities
Acquisition disclosure
Contingent consideration liability				1,100,000		$ 1,100,000
MikaMonu \| United States
Acquisition disclosure
Number of patents held \| patent	12
MikaMonu \| Continued employment of Dr. Avidan Akerib
Acquisition disclosure
Amount of payment held in escrow	$ 2,500,000
Contingent consideration	$ 1,200,000
MikaMonu \| Product development milestones and revenue targets
Acquisition disclosure
Term of additional contingent payments	10 years
Contingent consideration				1,300,000
MikaMonu \| Product development milestones and revenue targets \| Maximum
Acquisition disclosure
Contingent consideration				38,800,000
MikaMonu \| Product development milestones and revenue targets \| Accrued expenses and other liabilities
Acquisition disclosure
Contingent consideration				$ 750,000
MikaMonu \| Revenue milestones to be achieved by January, 1 2021
Acquisition disclosure
Contingent consideration	$ 2,750,000
MikaMonu \| Revenue milestones to be achieved by January, 1 2022
Acquisition disclosure
Contingent consideration	4,000,000
MikaMonu \| Quarterly payments based on net revenue \| Maximum
Acquisition disclosure
Contingent consideration	$ 30,000,000
Contingent consideration, percent of net revenue	5.00%

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2018	Mar. 31, 2017
Stockholders' Equity
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	21,407,247	20,612,757
Common stock, shares outstanding	21,407,247	20,612,757

4. GOODWILL	12 Months Ended
4. GOODWILL	Mar. 31, 2018
Goodwill.
NOTE 4-GOODWILL.	NOTE 4—GOODWILL Goodwill represents the difference between the purchase price and the estimated fair value of the identifiable assets acquired and liabilities assumed in a business combination. The Company tests for goodwill impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the asset is more likely than not impaired. The Company has one reporting unit. The Company assesses goodwill for impairment on an annual basis on the last day of February in the fourth quarter of its fiscal year. The Company had a goodwill balance of $8.0 million as of both March 31, 2018 and 2017. The goodwill resulted from the acquisition of MikaMonu Group Ltd. (“MikaMonu”) in fiscal 2016. The Company utilized a two-step quantitative analysis to complete its annual impairment test during the fourth quarter of fiscal 2018 and concluded that there was no impairment, as the fair value of its sole reporting unit exceeded its carrying value. The Company determined that the second step of the impairment test was not necessary. The Company believes that the fair value established during the fiscal 2018 annual goodwill impairment testing was reasonable, and no triggering event has taken place subsequent to the fiscal 2018 annual assessment.

8. COMMON STOCK	12 Months Ended
8. COMMON STOCK	Mar. 31, 2018
COMMON STOCK.
NOTE 8-COMMON STOCK	NOTE 8—COMMON STOCK The Company’s Certificate of Incorporation, as amended, authorizes the Company to issue 150,000,000 shares of $0.001 par value common stock. On August 6, 2014, the Company completed a modified “Dutch auction” self-tender offer to repurchase for cash shares of its common stock. The Company accepted for purchase and retirement an aggregate of 3,846,153 shares of its common stock at a final purchase price of $6.50 per share, for an aggregate cost of approximately $25 million, excluding fees and expenses related to the tender offer. The Company’s board of directors has authorized the repurchase, at management’s discretion, of shares of its common stock. Under the repurchase program, the Company may repurchase shares from time to time on the open market or in private transactions. The specific timing and amount of the repurchases will be dependent on market conditions, securities law limitations and other factors. The repurchase program may be suspended or terminated at any time without prior notice. Through March 31, 2018, including the shares purchased in the modified “Dutch Auction” self-tender offer, the Company has repurchased and retired a total of 11,983,942 shares at an average cost of $5.06 per share for a total cost of $60.6 million. At March 31, 2018, management was authorized to repurchase additional shares with a value of up to $4.4 million under the repurchase program.

12. EMPLOYEE BENEFIT PLANS	12 Months Ended
12. EMPLOYEE BENEFIT PLANS	Mar. 31, 2018
EMPLOYEE BENEFIT PLANS
NOTE 12-EMPLOYEE BENEFIT PLANS	NOTE 12—EMPLOYEE BENEFIT PLANS The Company provides a defined contribution retirement plan (the “Retirement Plan”), which qualifies under Section 401(k) of the Internal Revenue Code of 1986. The Retirement Plan covers essentially all United States employees. Eligible employees may make contributions to the Retirement Plan up to 15% of their annual compensation, but no greater than the annual IRS limitation for any plan year. The Retirement Plan does not provide for Company contributions. The Company provides a defined contribution retirement plan (the “Taiwan Pension Plan”) that covers essentially all of its employees located in Taiwan. The Company makes contributions to the Taiwan Pension Plan equal to 6% of eligible compensation and employees can make voluntary contributions of up to 6% of eligible compensation. All contributions are fully vested. The Company provides a defined contribution retirement plan (the “Pension Plan”) that covers essentially all of its employees located in Israel. Eligible employees may make contributions to the Pension Plan up to 5% of eligible compensation, and the Company contributes up to 15.83% of eligible compensation. All contributions are fully vested.

1. THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Mar. 31, 2018 USD ($) subsidiary facility customer	Mar. 31, 2017 USD ($) customer	Mar. 31, 2016 USD ($) customer
Basis of consolidation and risks and uncertainties
Number of subsidiaries \| subsidiary	4
Number of principal operations near fault lines \| facility	2
Revenue from revised agreements \| $	$ 2,000,000
Allowance for doubtful accounts receivable write-offs \| $	$ 0	$ 0	$ 0
Accounts receivable member \| Credit Concentration Risk
Basis of consolidation and risks and uncertainties
Number of customers \| customer	4	4
Accounts receivable member \| Credit Concentration Risk \| Customer One
Basis of consolidation and risks and uncertainties
Percentage attributable to customers	26.00%	36.00%
Accounts receivable member \| Credit Concentration Risk \| Customer Two
Basis of consolidation and risks and uncertainties
Percentage attributable to customers	25.00%	26.00%
Accounts receivable member \| Credit Concentration Risk \| Customer Three
Basis of consolidation and risks and uncertainties
Percentage attributable to customers	21.00%	13.00%
Accounts receivable member \| Credit Concentration Risk \| Customer Four
Basis of consolidation and risks and uncertainties
Percentage attributable to customers	13.00%	10.00%
Net revenue \| Customer Concentration Risk
Basis of consolidation and risks and uncertainties
Number of customers \| customer	4	4	4
Net revenue \| Customer Concentration Risk \| Customer One
Basis of consolidation and risks and uncertainties
Percentage attributable to customers	35.00%	26.00%	28.00%
Net revenue \| Customer Concentration Risk \| Customer Two
Basis of consolidation and risks and uncertainties
Percentage attributable to customers	16.00%	20.00%	16.00%
Net revenue \| Customer Concentration Risk \| Customer Three
Basis of consolidation and risks and uncertainties
Percentage attributable to customers	16.00%	20.00%	14.00%
Net revenue \| Customer Concentration Risk \| Customer Four
Basis of consolidation and risks and uncertainties
Percentage attributable to customers	13.00%	10.00%	13.00%

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Consolidated Statements Of Comprehensive Loss
Net income (loss)	$ 265	$ (1,528)	$ (1,740)	$ (1,512)	$ (1,349)	$ 348	$ 626	$ 260	$ (4,515)	$ (115)	$ (2,170)
Net unrealized gain (loss) on available-for-sale investments									(80)	(89)	1
Total comprehensive loss									$ (4,595)	$ (204)	$ (2,169)

3. BALANCE SHEET DETAIL - Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Inventories:
Work-in-progress	$ 2,226	$ 2,112
Finished goods	3,299	6,803
Inventory at distributors	22	296
Total Inventory	$ 5,547	$ 9,211

3. BALANCE SHEET DETAIL - Accounts receivable, net (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Accounts receivable, net:
Accounts receivable	$ 5,342	$ 6,453
Less: Allowances for sales returns, doubtful accounts and other	(63)	(104)
Total accounts receivable, net	$ 5,279	$ 6,349

3. BALANCE SHEET DETAIL - Prepaid expenses and other current assets (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Prepaid expenses and other current assets:
Prepaid tooling and masks	$ 163	$ 836
Prepaid income taxes		43
Escrow deposit	750	1,234
Other receivables	370	216
Other prepaid expenses and other current assets	797	448
Total prepaid expenses and other current assets	$ 2,080	$ 2,777

3. BALANCE SHEET DETAIL - Other assets (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Other assets:
Escrow deposit	$ 1,000	$ 1,750
Non-current deferred income taxes	75	22
Prepaid income taxes		552
Deposits	132	132
Total Other Assets	$ 1,207	$ 2,456

3. BALANCE SHEET DETAIL - Future amortization (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Year Ending March 31,
2019	$ 267
2020	233
2021	233
2022	233
2023	233
Thereafter	1,790
Total	$ 2,989	$ 3,302

3. BALANCE SHEET DETAIL - Accrued expenses and other liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Accrued expenses and other liabilities:
Accrued compensation	$ 2,786	$ 3,990
Escrow indemnity accrual		484
Accrued professional fees	31	66
Accrued commissions	299	238
Contingent consideration	1,102	1,117
Accrued retention payment	291	251
Miscellaneous accrued expenses	933	905
Total Accrued Expenses and Other Liabilities	$ 5,442	$ 7,051

3. BALANCE SHEET DETAIL - Other accrued expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Other accrued expenses:
Contingent consideration	$ 4,411	$ 5,083
Other long term accrued liabilities	291	335
Other accrued expenses	$ 4,702	$ 5,418

4. GOODWILL (Details)	3 Months Ended	12 Months Ended
4. GOODWILL (Details)	Mar. 31, 2018 USD ($)	Mar. 31, 2018 USD ($) segment	Mar. 31, 2017 USD ($)
Goodwill.
Number of reporting units \| segment		1
Goodwill	$ 7,978,000	$ 7,978,000	$ 7,978,000
Goodwill impairment	$ 0

6. FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Fair value measurements
Short-term investments	$ 18,124	$ 16,199
Long-term investments	7,923	12,898
Level 2 \| Marketable securities
Fair value measurements
Short-term investments	18,100
Long-term investments	7,900
Other accrued expenses
Fair value measurements
Contingent consideration liability	4,400	5,100
Accrued expenses and other liabilities
Fair value measurements
Contingent consideration liability	1,100	1,100
Recurring
Fair value measurements
Assets	32,835	35,390
Liabilities	5,514	6,200
Recurring \| Money market funds
Fair value measurements
Money market funds	6,788	6,293
Recurring \| Marketable securities
Fair value measurements
Marketable securities	26,047	29,097
Recurring \| Level 1
Fair value measurements
Assets	6,788	6,293
Recurring \| Level 1 \| Money market funds
Fair value measurements
Money market funds	6,788	6,293
Recurring \| Level 2
Fair value measurements
Assets	26,047	29,097
Recurring \| Level 2 \| Marketable securities
Fair value measurements
Marketable securities	26,047	29,097
Recurring \| Level 3
Fair value measurements
Liabilities	$ 5,514	$ 6,200

6. FINANCIAL INSTRUMENTS - Available for sale investments (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Available-for-sale investments
Cost	$ 26,174,000
Fair Value	$ 26,047,000
Other information
Maximum maturity period of investment portfolio	3 years
Deferred tax asset related to unrecognized gains and losses on short-term and long-term investments	$ 29,000	$ 17,000
Short-term investments
Available-for-sale investments
Cost	18,174,000	16,202,000
Gross Unrealized Gains		10,000
Gross Unrealized Losses	(50,000)	(13,000)
Fair Value	18,124,000	16,199,000
Short-term investments \| State and municipal obligations
Available-for-sale investments
Cost		1,632,000
Gross Unrealized Gains		1,000
Fair Value		1,633,000
Short-term investments \| Corporate notes
Available-for-sale investments
Cost		557,000
Gross Unrealized Losses		(2,000)
Fair Value		555,000
Short-term investments \| Agency bonds
Available-for-sale investments
Cost	3,996,000	3,012,000
Gross Unrealized Losses	(1,000)	(7,000)
Fair Value	3,995,000	3,005,000
Short-term investments \| Foreign government obligations
Available-for-sale investments
Cost	5,428,000	1,001,000
Gross Unrealized Losses	(21,000)	(1,000)
Fair Value	5,407,000	1,000,000
Short-term investments \| Certificates of deposit
Available-for-sale investments
Cost	8,750,000	10,000,000
Gross Unrealized Gains		9,000
Gross Unrealized Losses	(28,000)	(3,000)
Fair Value	8,722,000	10,006,000
Long-term investment
Available-for-sale investments
Cost	8,000,000	12,942,000
Gross Unrealized Gains		3,000
Gross Unrealized Losses	(77,000)	(47,000)
Fair Value	7,923,000	12,898,000
Long-term investment \| Foreign government obligations
Available-for-sale investments
Cost		5,442,000
Gross Unrealized Losses		(8,000)
Fair Value		5,434,000
Long-term investment \| Certificates of deposit
Available-for-sale investments
Cost	8,000,000	7,500,000
Gross Unrealized Gains		3,000
Gross Unrealized Losses	(77,000)	(39,000)
Fair Value	$ 7,923,000	$ 7,464,000

6. FINANCIAL INSTRUMENTS - Contractual maturities (Details) $ in Thousands	Mar. 31, 2018 USD ($)
FINANCIAL INSTRUMENTS
Maturing within one year, Cost	$ 18,174
Maturing in one to three years, Cost	8,000
Total	26,174
Maturing within one year, Fair Value	18,124
Maturing in one to three years, Fair Value	7,923
Fair Value	$ 26,047

7. COMMITMENTS AND CONTINGENCIES - Legal proceedings (Details)	May 06, 2015 lawsuit	Jun. 10, 2011 patent
Cypress Semiconductor International Trade Commission
Legal proceedings
Number of additional patent infringement complaints \| patent		1
Cypress Semiconductor Litigation
Legal proceedings
Number of lawsuits \| lawsuit	2

8. COMMON STOCK - Dutch auction (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Aug. 06, 2014	Mar. 31, 2017	Mar. 31, 2016
Repurchase of common stock, amount		$ 7,112	$ 7,026
Modified Dutch Auction
Repurchase of common stock, shares	3,846,153
Treasury stock acquired cost per share	$ 6.50
Repurchase of common stock, amount	$ 25,000

10. SEGMENT AND GEOGRAPHIC INFORMATION (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2017 USD ($)	Jun. 30, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Sep. 30, 2016 USD ($)	Jun. 30, 2016 USD ($)	Mar. 31, 2018 USD ($) segment	Mar. 31, 2017 USD ($)	Mar. 31, 2016 USD ($)
Net revenues and long-lived assets by geographic area
Revenue, Net	$ 11,191	$ 11,118	$ 9,647	$ 10,687	$ 10,392	$ 11,484	$ 13,358	$ 12,946	$ 42,643	$ 48,180	$ 52,736
Property and equipment, net	8,172				7,689				$ 8,172	7,689
Number of reporting units \| segment									1
United States
Net revenues and long-lived assets by geographic area
Revenue, Net									$ 20,690	19,708	20,951
Property and equipment, net	6,576				5,648				6,576	5,648
China
Net revenues and long-lived assets by geographic area
Revenue, Net									5,520	9,364	12,123
Singapore
Net revenues and long-lived assets by geographic area
Revenue, Net									6,878	9,475	7,345
Netherlands
Net revenues and long-lived assets by geographic area
Revenue, Net									4,375	4,728	7,124
Taiwan
Net revenues and long-lived assets by geographic area
Property and equipment, net	1,443				1,952				1,443	1,952
Israel
Net revenues and long-lived assets by geographic area
Property and equipment, net	$ 153				$ 89				153	89
Rest of the world
Net revenues and long-lived assets by geographic area
Revenue, Net									$ 5,180	$ 4,905	$ 5,193

12. EMPLOYEE BENEFIT PLANS (Details)	12 Months Ended
12. EMPLOYEE BENEFIT PLANS (Details)	Mar. 31, 2018
United States
Defined Contribution Plan Disclosure [Line Items]
Maximum amount employee can contribute (as a percent)	15.00%
Taiwan
Defined Contribution Plan Disclosure [Line Items]
Maximum amount employee can contribute (as a percent)	6.00%
Maximum amount employer can contribute (as a percent)	6.00%
Israel
Defined Contribution Plan Disclosure [Line Items]
Maximum amount employee can contribute (as a percent)	5.00%
Maximum amount employer can contribute (as a percent)	15.83%