Financial Instruments |
6 Months Ended |
|---|---|
Sep. 30, 2011 | |
| Financial Instruments [Abstract] | |
| Financial Instruments |
5. Financial Instruments:
The carrying amount of the Company's financial instruments, including cash and cash equivalents, accounts receivable and accounts payable, notes receivable, accrued expenses and other liabilities approximates fair value due to their relatively short maturity. The Company sold products in various global markets. As a result, the Company was exposed to changes in foreign currency exchange rates. The Company does not hold derivative financial instruments for speculative purposes. Foreign currency transaction gains and (losses) included in other income (expense), were $29 and $56 for the six months ended September 30, 2011 and 2010, respectively. On September 30, 2011, the Company had no open foreign exchange contracts to sell Euros or any other foreign currencies. On September 30, 2011, the Company had 41,741 warrants outstanding with an exercise price of $30.00 expiring between June 2013 and September 2013. The Company recorded a non-cash gain of $3 and $141 in the quarter ended September 30, 2011 and 2010, respectively, related to these warrants.
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