Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

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Condensed Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:    
Net income $ 44,430 $ 12,302
Reconciliation of net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,781 2,067
Exchange rate (gain) loss 20 (17)
Deferred taxes 13,999  
Restructuring 942  
Gain on sale of CNS assets (31,654)  
Gain on the sale of ConferencePlus, net of tax of $12,848 (19,980)  
Gain on sale of a non-operating asset (325)  
Stock-based compensation 922 889
Changes in operating assets and liabilities:    
Accounts receivable 12,671 (4,040)
Inventory 623 476
Prepaid expenses and other current assets (316) (375)
Other assets 26 70
Deferred revenue 467 (558)
Accounts payable and accrued expenses (24,599) 12,738
Accrued compensation (1,974) 11
Net cash provided by (used in) operating activities (2,967) 23,563
Cash flows from investing activities:    
Maturities of held-to-maturity short-term debt securities 880  
Maturities of other short-term investments 1,553  
Purchases of held-to-maturity short-term debt securities (6,451)  
Purchases of other short-term investments (16,201) (735)
Purchases of property and equipment (779) (485)
Proceeds from sale of a non-operating asset 325  
Proceeds from the sale of ConferencePlus, net of cash transferred 40,331  
Proceeds from sale of CNS assets 36,683  
Purchases of restricted cash investments (7,449)  
Net cash provided by (used in) investing activities 48,892 (1,220)
Cash flows from financing activities:    
Proceeds from stock options exercised 1,600 2,591
Payment for subsidiary stock options tendered   (36)
Purchases of treasury stock (12,553) (555)
Net cash provided by (used in) financing activities (10,953) 2,000
Effect of exchange rate changes on cash (128) 33
Net increase in cash and cash equivalents 34,844 24,376
Cash and cash equivalents, beginning of period 86,408 [1] 61,315
Cash and cash equivalents, end of period $ 121,252 $ 85,691
[1] The balance sheet as of March 31, 2011 includes the balances of ConferencePlus. As disclosed in Note 1, the Company completed the sale of ConferencePlus on December 31, 2011. See Note 1 for additional information.