Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Mar. 31, 2019	May 31, 2019	Sep. 30, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	ORION ENERGY SYSTEMS, INC.
Entity Central Index Key	0001409375
Trading Symbol	OESX
Document Type	10-K
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
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	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Public Float			$ 19,881,105
Entity Common Stock, Shares Outstanding		29,601,669

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Apr. 01, 2018	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Assets
Cash and cash equivalents	$ 8,729		$ 9,424	$ 17,307	$ 15,542
Accounts receivable, net	14,804	$ 9,020	8,736
Revenue earned but not billed	3,746
Inventories, net	13,403		7,826
Deferred contract costs	0		1,000
Prepaid expenses and other current assets	695		2,467
Total current assets	41,377		29,453
Property and equipment, net	12,010		12,894
Other intangible assets, net	2,469		2,868
Other long-term assets	165		110
Total assets	56,021		45,325
Liabilities and Shareholders’ Equity
Accounts payable	19,706		11,675
Accrued expenses and other	7,410		4,171
Deferred revenue, current	123		499
Current maturities of long-term debt	96		79
Total current liabilities	27,335		16,424
Revolving credit facility	9,202		3,908
Long-term debt, less current maturities	81		105
Deferred revenue, long-term	791		940
Other long-term liabilities	642		524
Total liabilities	38,051		21,901
Commitments and contingencies (Note 13)
Shareholders’ equity:
Preferred stock, $0.01 par value: Shares authorized: 30,000,000 shares at March 31, 2019 and 2018; no shares issued and outstanding at March 31, 2019 and 2018			0
Common stock, no par value: Shares authorized: 200,000,000 at March 31, 2019 and 2018; shares issued: 39,037,969 and 38,384,575 at March 31, 2019 and 2018; shares outstanding: 29,600,158 and 28,953,183 at March 31, 2019 and 2018			0
Additional paid-in capital	155,828		155,003
Treasury stock: 9,437,811 and 9,431,392 common shares at March 31, 2019 and 2018	(36,091)		(36,085)
Retained deficit	(101,767)		(95,494)
Total shareholders’ equity	17,970		23,424	$ 35,450	$ 45,983
Total liabilities and shareholders’ equity	$ 56,021		$ 45,325

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2019	Mar. 31, 2018
Statement Of Financial Position [Abstract]
Preferred stock, par value (USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	30,000,000	30,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (USD per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	39,037,969	38,384,575
Common stock, shares outstanding (in shares)	29,600,158	28,953,183
Treasury stock (in shares)	9,437,811	9,431,392

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Revenues	$ 65,754	$ 60,300	$ 70,211
Cost of revenue	51,202	45,628	52,874
Gross profit	14,552	14,672	17,337
Operating expenses:
General and administrative	10,231	13,159	14,777
Impairment of intangible assets		710	250
Sales and marketing	9,104	11,879	12,833
Research and development	1,374	1,905	2,004
Total operating expenses	20,709	27,653	29,864
Loss from operations	(6,157)	(12,981)	(12,527)
Other income (expense):
Other income	80	248	215
Interest expense	(493)	(333)	(163)
Amortization of debt issue costs	(101)	(92)	(110)
Interest income	11	15	36
Total other expense	(503)	(162)	(22)
Loss before income tax	(6,660)	(13,143)	(12,549)
Income tax expense (benefit)	14	(15)	(261)
Net loss	$ (6,674)	$ (13,128)	$ (12,288)
Basic net loss per share attributable to common shareholders	$ (0.23)	$ (0.46)	$ (0.44)
Weighted-average common shares outstanding	29,429,540	28,783,830	28,156,382
Diluted net loss per share	$ (0.23)	$ (0.46)	$ (0.44)
Weighted-average common shares and share equivalents outstanding	29,429,540	28,783,830	28,156,382
Product revenue
Revenues	$ 56,261	$ 55,595	$ 66,224
Cost of revenue	44,111	41,415	49,630
Service revenue
Revenues	9,493	4,705	3,987
Cost of revenue	$ 7,091	$ 4,213	$ 3,244

STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock, Shares	Common Stock, Additional Paid-in Capital	Treasury Stock	Shareholder Notes Receivable	Retained Earnings (Deficit)
Shareholders' equity, beginning of period at Mar. 31, 2016	$ 45,983		$ 152,140	$ (36,075)	$ (4)	$ (70,078)
Shareholders' equity, beginning of period (Shares) at Mar. 31, 2016		27,767,138
Issuance of stock for services	156		156
Issuance of stock services (shares)		110,566
Shares issued under Employee Stock Purchase Plan	8			8
Shares issued under Employee Stock Purchase Plan (shares)		5,156
Stock-based compensation	1,605		1,605
Stock-based compensation (shares)		444,102
Employee tax withholdings on stock-based compensation	(14)			(14)
Employee tax withholdings on stock-based compensation (shares)		(9,472)
Net loss	(12,288)					(12,288)
Shareholders' equity, end of period at Mar. 31, 2017	35,450		153,901	(36,081)	(4)	(82,366)
Shareholders' equity, at end of period (shares) at Mar. 31, 2017		28,317,490
Issuance of stock services (shares)		24,747
Shares issued under Employee Stock Purchase Plan	$ 11			11
Shares issued under Employee Stock Purchase Plan (shares)	10,057	10,057
Stock-based compensation	$ 1,102		1,102
Stock-based compensation (shares)		612,601
Employee tax withholdings on stock-based compensation	(11)			(11)
Employee tax withholdings on stock-based compensation (shares)		(10,482)
Collection of Stockholders Notes				(4)	$ 4
Collections on stockholder notes (shares)		(1,230)
Net loss	(13,128)					(13,128)
Shareholders' equity, end of period at Mar. 31, 2018	$ 23,424		155,003	(36,085)		(95,494)
Shareholders' equity, at end of period (shares) at Mar. 31, 2018	28,953,183	28,953,183
Shares issued under Employee Stock Purchase Plan	$ 4			4
Shares issued under Employee Stock Purchase Plan (shares)	4,642	4,642
Stock-based compensation	$ 825		825
Stock-based compensation (shares)		653,394
Collection of Stockholders Notes	(10)			(10)
Collections on stockholder notes (shares)		11,061
Cumulative effect of accounting change \| ASC 606	401					401
Net loss	(6,674)					(6,674)
Shareholders' equity, end of period at Mar. 31, 2019	$ 17,970		$ 155,828	$ (36,091)		$ (101,767)
Shareholders' equity, at end of period (shares) at Mar. 31, 2019	29,600,158	29,600,158

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Operating activities
Net loss	$ (6,674)	$ (13,128)	$ (12,288)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	1,339	1,404	1,451
Amortization of intangible assets	444	607	881
Stock-based compensation	825	1,102	1,605
Amortization of debt issue costs	101	92	110
Impairment of intangible assets		710	250
Provision for inventory reserves	(202)	1,261	2,212
Provision for bad debts	56	22	132
Other	57	(94)	178
Changes in operating assets and liabilities:
Accounts receivable	(5,840)	419	1,687
Revenue earned but not billed	(1,390)
Inventories	(4,689)	4,706	1,220
Deferred contract costs	0	(65)	(899)
Prepaid expenses and other current assets	68	391	1,974
Accounts payable	8,916	20	(81)
Accrued expenses and other	1,975	(1,736)	(635)
Deferred revenue, current and long-term	(44)	(126)	300
Net cash used in operating activities	(5,058)	(4,415)	(1,903)
Investing activities
Purchase of property and equipment	(381)	(512)	(660)
Additions to patents and licenses	(68)	(73)	(291)
Proceeds from sales of property, plant and equipment			2,600
Net cash (used in) provided by investing activities	(449)	(585)	1,649
Financing activities
Payment of long-term debt	(80)	(158)	(880)
Proceeds from revolving credit facility	60,270	68,734	87,935
Payment of revolving credit facility	(54,976)	(71,456)	(85,025)
Payments to settle employee tax withholdings on stock-based compensation	(10)	(9)	(19)
Debt issue costs	(396)
Net proceeds from employee equity exercises	4	6	8
Net cash provided by (used in) financing activities	4,812	(2,883)	2,019
Net (decrease) increase in cash and cash equivalents	(695)	(7,883)	1,765
Cash and cash equivalents at beginning of period	9,424	17,307	15,542
Cash and cash equivalents at end of period	8,729	9,424	17,307
Supplemental cash flow information:
Cash paid for interest	(176)	(147)	(164)
Cash received for income taxes	12	$ 17	153
Supplemental disclosure of non-cash investing and financing activities:
Purchase of property, plant and equipment by issuing a debt	$ 74		$ 175

DESCRIPTION OF BUSINESS

12 Months Ended

Mar. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

DESCRIPTION OF BUSINESS

NOTE 1 — DESCRIPTION OF BUSINESS

Organization

Orion includes Orion Energy Systems, Inc., a Wisconsin corporation, and all consolidated subsidiaries. Orion is a developer, manufacturer and seller of lighting and energy management systems to commercial and industrial businesses, and federal and local governments, predominantly in North America.

Orion’s corporate offices and leased primary manufacturing operations are located in Manitowoc, Wisconsin. Orion also leases office space in Jacksonville, Florida and warehouse space in Manitowoc, Wisconsin. During fiscal 2018 and fiscal 2017 Orion had leased warehouse space in Augusta, Georgia, but as of March 31, 2018, Orion had vacated this storage location.

In fiscal 2018, we did not renew the leases for our 5,600 square foot of office space in Houston, Texas and our 3,100 square foot of office space in Chicago, Illinois. The leases terminated as of April 30, 2018 and May 31, 2018, respectively.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

The consolidated financial statements include the accounts of Orion Energy Systems, Inc. and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation.

Reclassifications

In the warranty rollforward in Note 9 – Accrued Expenses and Other, certain prior period balances have been reclassified to conform to current period presentation. The reclassifications were immaterial to the financial statements.

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 disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during that reporting period. Areas that require the use of significant management estimates include revenue recognition, inventory obsolescence and allowance for doubtful accounts, accruals for warranty and loss contingencies, income taxes, impairment analyses, and certain equity transactions. Accordingly, actual results could differ from those estimates.

Cash and Cash Equivalents

Orion considers all highly liquid, short-term investments with original maturities of three months or less to be cash equivalents.

Fair Value of Financial Instruments

Orion’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and other, revolving credit facility and long-term debt. The carrying amounts of Orion’s financial instruments approximate their respective fair values due to the relatively short-term nature of these instruments, or in the case of long-term debt and revolving credit facility, because of the interest rates currently available to Orion for similar obligations. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. GAAP describes a fair value hierarchy based on the following three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value:

Level 1 — Valuations are based on unadjusted quoted prices in active markets for identical assets or liabilities.

Level 2 — Valuations are based on quoted prices for similar assets or liabilities in active markets, or quoted prices in markets that are not active for which significant inputs are observable, either directly or indirectly.

Level 3 — Valuations are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect management's best estimate of what market participants would use in valuing the asset or liability at the measurement date.

Allowance for Doubtful Accounts

Orion performs ongoing evaluations of its customers and continuously monitors collections and payments. Orion estimates an allowance for doubtful accounts based upon the aging of the underlying receivables, historical experience with write-offs and specific customer collection issues that have been identified. See Note 4 - Accounts Receivable for further discussion of the allowance for doubtful accounts.

Deferred Contract Costs

Deferred contract costs consist primarily of the costs of products delivered, and services performed, that are subject to additional performance obligations or customer acceptance. In the prior year, these deferred contract costs were expensed at the time the related revenue was recognized. Upon adoption of “Revenue from Contracts with Customers” (Topic 606) on April 1, 2018, this account was no longer used; there were no Deferred costs as of March 31, 2019. Deferred costs amounted to $1.0 million as of March 31, 2018.

Incentive Plan

Orion’s compensation committee approved an Executive Fiscal Year 2019 Annual Cash Incentive Program. The program provided for performance cash bonus payments ranging from 50-100% of the fiscal 2019 base salaries of Orion’s named executive officers and other key employees. The program provided for bonuses to be paid out on the basis of achieving positive net income in fiscal 2019. Based upon the results for the year ended March 31, 2019, Orion did not accrue any expense related to this plan.

Orion’s compensation committee approved an Executive Fiscal Year 2018 Annual Cash Incentive Program. The program provided for performance cash bonus payments ranging from 50-100% of the fiscal 2018 base salaries of Orion’s named executive officers and other key employees. The program provided for bonuses to be paid out on the basis of achieving positive EBITDA in fiscal 2018. Based upon the results for the year ended March 31, 2018, Orion did not accrue any expense related to this plan.

Orion’s compensation committee approved an Executive Fiscal Year 2017 Annual Cash Incentive Program. The program provided for performance cash bonus payments ranging from 35-100% of the fiscal 2017 base salaries of Orion’s named executive officers and other key employees. The program provided for bonuses to be paid out on the basis of the achievement in fiscal 2018 of at least (i) $0.5 million of profit before taxes and (ii) revenue growth of 10% more than fiscal year 2016. Based upon the results for the year ended March 31, 2017, Orion did not accrue any expense related to this plan.

Revenue Recognition

Periods prior to April 1, 2018

Revenue was recognized in accordance with the revenue recognition requirements in “Revenue Recognition” (Topic 605) (“ASC 605”) when the following criteria were met:

persuasive evidence of an arrangement exists;

delivery has occurred and title has passed to the customer;

the sales price is fixed and determinable and no further obligation exists; and

collectability is reasonably assured.

Revenue was recorded net of estimated provisions for returns, early payment discounts and rebates and other consideration paid to Orion’s customers. Revenues were presented net of sales tax and other sales related taxes.

For sales of Orion’s lighting and energy management technologies under multiple element arrangements, consisting of a combination of product sales and services, Orion determines revenue by allocating the total contract revenue to each element based on their relative selling prices in accordance with ASC 605-25, Revenue Recognition - Multiple Element Arrangements. In such circumstances, Orion uses a hierarchy to determine the selling price to be used for allocating revenue to deliverables: (1) vendor-specific objective evidence ("VSOE") of fair value, if available, (2) third-party evidence ("TPE") of selling price if VSOE is not available, and (3) best estimate of the selling price if neither VSOE nor TPE is available (a description as to how Orion determines estimated selling price is provided below).

The nature of Orion’s multiple element arrangements for the sale of its lighting and energy management technologies is similar to a construction project, with materials being delivered and contracting and project management activities occurring according to an installation schedule. The significant deliverables include the shipment of products and related transfer of title and the installation.

To determine the selling price in multiple-element arrangements, Orion establishes the selling price for its energy management system products using management's best estimate of the selling price, as VSOE and TPE do not exist. Product revenue is recognized when title and risk of loss for the products transfers. For product revenue, management's best estimate of selling price is determined using a cost plus gross profit margin method.

In addition, Orion records in service revenue the selling price for its installation and recycling services using management’s best estimate of selling price, as VSOE and TPE do not exist. Service revenue is recognized when services are completed and customer acceptance has been received. Recycling services provided in connection with installation entail the disposal of the customer’s legacy lighting fixtures. Orion’s service revenues, other than for installation and recycling that are completed prior to delivery of the product, are included in product revenue using management’s best estimate of selling price, as VSOE and TPE do not exist. These services include comprehensive site assessment, site field verification, utility incentive and government subsidy management, engineering design, and project management. For these services, along with Orion's installation and recycling services, under a multiple-element arrangement, management’s best estimate of selling price is determined using a cost plus gross profit margin method with consideration given to other relevant economic conditions and trends, customer demand, pricing practices, and margin objectives. The determination of an estimated selling price is made through consultation with and approval by management, taking into account the preceding factors.

Deferred revenue relates to advance customer billings, investment tax grants received related to PPAs and long term maintenance contracts on OTAs and is classified as a liability on the consolidated balance sheet. The fair value of the maintenance is readily determinable based upon pricing from third-party vendors. Deferred revenue related to maintenance services is recognized when the services are delivered, which occurs in excess of a year after the original OTA contract is executed.

Period Commencing April 1, 2018

General Information

Orion generates revenues primarily by selling commercial lighting fixtures and components and by installing these fixtures in its customer’s facilities. Orion recognizes revenue in accordance with the guidance in “Revenue from Contracts with Customers” (Topic 606) (“ASC 606”) when control of the goods or services being provided (which Orion refers to as a performance obligation) is transferred to a customer at an amount that reflects the consideration that management expects to receive in exchange for those goods or services. Prices are generally fixed at the time of order confirmation. The amount of expected consideration includes estimated deductions and early payment discounts calculated based on historical experience, customer rebates based on agreed upon terms applied to actual and projected sales levels over the rebate period, and any amounts paid to customers in conjunction with fulfilling a performance obligation.

If there are multiple performance obligations in a single contract, the contract’s total sales price is allocated to each individual performance obligation based on their relative standalone selling price. A performance obligation’s standalone selling price is the price at which Orion would sell such promised good or service separately to a customer. Orion uses an observable price to determine the stand-alone selling price for separate performance obligations or a cost-plus margin approach when one is not available. The cost-plus margin approach is used to determine the stand-alone selling price for the installation performance obligation and is based on average historical installation margin.

Revenue derived from customer contracts which include only performance obligation(s) for the sale of lighting fixtures and components is classified as Product revenue in the Consolidated Statements of Operations. The revenue for these transactions is recorded at the point in time when management believes that the customer obtains control of the products, generally either upon shipment or upon delivery to the customer’s facility. This point in time is determined separately for each contract and requires judgment by management of the contract terms and the specific facts and circumstances concerning the transaction.

Revenue from a customer contract which includes both the sale of fixtures and the installation of such fixtures (which Orion refers to as a turnkey project) is allocated between each lighting fixture and the installation performance obligation based on relative standalone selling prices.

Revenue from turnkey projects that is allocated to the sale of the lighting fixtures is recorded at the point in time when management believes the customer obtains control of the product(s) and is reflected in Product revenue. This point in time is determined separately for each customer contract based upon the terms of the contract and the nature and extent of Orion’s control of the light fixtures during the installation. Product revenue associated with turnkey projects can be recorded (a) upon shipment or delivery, (b) subsequent to shipment or delivery and upon customer payments for the light fixtures, (c) when an individual light fixture is installed and working correctly, or (d) when the customer acknowledges that the entire installation project is substantially complete. Determining the point in time when a customer obtains control of the lighting fixtures in a turnkey project can be a complex judgment and is applied separately for each individual light fixture included in a contract. In making this judgment, management considers the timing of various factors, including, but not limited to, those detailed below:

•

when there is a legal transfer of ownership;

•

when the customer obtains physical possession of the products;

•

when the customer starts to receive the benefit of the products;

•

the amount and duration of physical control that Orion maintains on the products after they are shipped to, and received at, the customer’s facility;

•

whether Orion is required to maintain insurance on the lighting fixtures when they are in transit and after they are delivered to the customer’s facility;

•

when each light fixture is physically installed and working correctly;

•

when the customer formally accepts the product; and

•

when Orion receives payment from the customer for the light fixtures.

Revenue from turnkey projects that is allocated to the single installation performance obligation is reflected in Service revenue. Service revenue is recorded over-time as Orion fulfills its obligation to install the light fixtures. Orion measures its performance toward fulfilling its performance obligations for installations using an output method that calculates the number of light fixtures completely installed as of the measurement date in comparison to the total number of light fixtures to be installed under the contract.

Most products are manufactured in accordance with Orion’s standard specifications. However, some products are manufactured to a customer’s specific requirements with no alternative use to Orion. In such cases, and when Orion has an enforceable right to payment, Product revenue is recorded on an over-time basis measured using an input methodology that calculates the costs incurred to date as compared to total expected costs. There was no over-time revenue related to custom products recognized in fiscal year 2019.

Orion offers a financing program, called an Orion Throughput Agreement, or OTA, for a customer’s lease of Orion’s energy management systems. The OTA is structured as a sales-type lease and upon successful installation of the system and customer acknowledgment that the system is operating as specified, revenue is recognized at Orion’s net investment in the lease, which typically is the net present value of the future cash flows.

Orion also records revenue in conjunction with several limited power purchase agreements (“PPAs”) still outstanding. Those PPAs are supply-side agreements for the generation of electricity. Orion’s last PPA expires in 2031. Revenue associated with the sale of energy generated by the solar facilities under these PPAs is within the scope of ASC 606. Revenues are recognized over-time and are equal to the amount billed to the customer, which is calculated by applying the fixed rate designated in the PPAs to the variable amount of electricity generated each month. This approach is in accordance with the “right to invoice” practical expedient provided for in ASC 606. Orion also recognizes revenue upon the sale to third parties of tax credits received from operating the solar facilities and from amortizing a grant received from the federal government during the period starting when the power generating facilities were constructed until the expiration of the PPAs; these revenues are not derived from contracts with customers and therefore not under the scope of ASC 606.

When shipping and handling activities are performed after a customer obtains control of the product, Orion has elected to treat shipping and handling costs as an activity necessary to fulfill the performance obligation to transfer product to the customer and not as a separate performance obligation. Any shipping and handling costs charged to customers are recorded in Product revenue. Shipping and handling costs are accrued and included in Cost of product revenue.

See Note 9, Accrued Expenses and Other for a discussion of Orion’s accounting for the warranty it provides to customers for its products and services.

Sales taxes collected from customers and remitted to governmental authorities are accounted for on a net (excluded from revenues) basis.

Shipping and Handling Costs

Orion records costs incurred in connection with shipping and handling of products as cost of product revenue. Amounts billed to customers in connection with these costs are included in product revenue.

Research and Development

Orion expenses research and development costs as incurred. Amounts are included in the Statement of Operations and Comprehensive Income on the line item Research and development.

Income Taxes

Orion recognizes deferred tax assets and liabilities for the future tax consequences of temporary differences between financial reporting and income tax basis of assets and liabilities, measured using the enacted tax rates and laws expected to be in effect when the temporary differences reverse. Deferred income taxes also arise from the future tax benefits of operating loss and tax credit carry-forwards. A valuation allowance is established when management determines that it is more likely than not that all or a portion of a deferred tax asset will not be realized. For the fiscal year ended March 31, 2019, Orion increased its full valuation allowance by $1.6 million against its deferred tax assets due to the increase in its deferred tax assets.

ASC 740, Income Taxes, also prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination. Orion has classified the amounts recorded for uncertain tax benefits in the balance sheet as other liabilities (non-current) to the extent that payment is not anticipated within one year. Orion recognizes penalties and interest related to uncertain tax liabilities in income tax expense. Penalties and interest are immaterial and are included in the unrecognized tax benefits.

The Tax Cut and Jobs Act ("ACT") was enacted December 22, 2017. Further information on the impacts of the Act can be found in Note 13, Income Taxes.

Stock Based Compensation

Orion’s share-based payments to employees are measured at fair value and are recognized in earnings, on a straight-line basis over the requisite service period.

Orion accounts for stock-based compensation in accordance with ASC 718, Compensation - Stock Compensation. Under the fair value recognition provisions of ASC 718, stock-based compensation is measured at the grant date based on the fair value of the award and is recognized as expense ratably over the requisite service period. As more fully described in Note 15 - Stock Options and Restricted Shares, Orion currently awards non-vested restricted stock to employees, executive officers and directors. Orion did not issue any stock options during fiscal 2019, fiscal 2018 or fiscal 2017.

Orion has not paid dividends in the past and does not plan to pay any dividends in the foreseeable future. Orion estimates its forfeiture rate of unvested stock awards based on historical experience.

Concentration of Credit Risk and Other Risks and Uncertainties

Orion’s cash is deposited with two financial institutions. At times, deposits in these institutions exceed the amount of insurance provided on such deposits. Orion has not experienced any losses in such accounts and believes that it is not exposed to any significant financial institution viability risk on these balances.

Orion purchases components necessary for its lighting products, including ballasts, lamps and LED components, from multiple suppliers. For fiscal 2019, 2018 and 2017, no supplier accounted for more than 10% of total cost of revenue.

In fiscal 2019, one customer accounted for 20.7% of total revenue. In fiscal 2018, two customers accounted for 11.7% and 10.8% of total revenue. In fiscal 2017, no customer accounted for 10% of revenue.

As of March 31, 2019, one customer accounted for 56.2% of accounts receivable and as of March 31, 2018, one customer accounted for 13.2% of accounts receivable.

Recent Accounting Pronouncements

Issued: Not Yet Adopted

In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, "Leases" (Subtopic 842). The pronouncement, and subsequent amendments, is included in the Accounting Standards Codification as Subtopic 842 (“ASC 842”). For Orion, the primary impact of the adoption of ASC 842 will be the recognition of right-of-use assets and liabilities on the balance sheet for the rights and obligations created by contracts where Orion is leasing assets from third parties for periods in excess of one year. Previously, the financial impact associated with such contracts was recorded only in Orion’s statement of operations. Additional quantitative and qualitative disclosures about Orion’s lease arrangements are also required.

Orion implemented ASC 842 at the start of the first quarter of the fiscal year ending March 31, 2020 using the optional transition method under which the new standard is applied only to the most current period presented and the cumulative effect of applying the new standards to existing lease agreements is recognized at the date of initial application. Adoption of ASC 842 resulted in the recording of additional right-of-use lease assets and lease liabilities of approximately $0.2 million for operating lease agreements associated with assets used by Orion but owned by a third party. There was no adjustment to retained deficit. Orion also leases assets to third parties under capital and sales-type leases. There was no financial statement impact from the adoption of ASC 842 on the contracts where Orion leases assets to third parties.

Determining whether a contract includes a lease, and assessing whether the lease should be accounted for as a finance lease or an operating lease, is a matter of judgment based on whether the risks and rewards as well as substantive control of the associated with the assets specified in the contract have been transferred from the lessor to the lessee. Orion implemented the appropriate changes to business processes and controls to support recognition and disclosure under the new standard, including the new qualitative and quantitative disclosures that will include information on the nature, amount, timing and significant judgments impacting revenue from contracts with customers.

Orion management believes that the adoption of ASC 842 will not materially impact Orion’s future consolidated results of operations and will have no impact on Orion’s future cash flows.

Recently Adopted Standards

On April 1, 2018, Orion adopted ASU 2014-09 and subsequent amendments, which is included in the Accounting Standards Codification as "Revenue from Contracts with Customers" (Topic 606) (“ASC 606”) and Sub-Topic 340-40 (“ASC 340-40”), using the modified retrospective approach. ASC 606 superseded the revenue recognition requirements in “Revenue Recognition” (Topic 605) ("ASC 605") and provides guidance on the accounting for other assets and deferred costs associated with contracts with customers. ASC 606 requires entities to recognize revenue when control of the promised goods or services is transferred to customers at an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. ASC 340-40 limits the circumstances that an entity can recognize an asset from the costs incurred to obtain or fulfill a contract that are not subject to the guidance in other portions in the Accounting Standards Codification, such as those related to inventory. The provisions of ASC 606 and ASC 340-40 require entities to use more judgments and estimates than under previous guidance when allocating the total consideration in a contract to the individual promises to customers (“performance obligations”) and determining when a performance obligation has been satisfied and revenue can be recognized. Orion’s adoption of ASC 606 did not have a material effect on Orion's financial statements. Orion has updated its processes and controls necessary for implementing ASC 606, including the increased footnote disclosure requirements.

In August 2016, the FASB issued ASU 2016-15, "Classification of Certain Cash Receipts and Cash Payments," which provided clarification and additional guidance as to the presentation and classification of certain cash receipts and cash payments in the statement of cash flows. This ASU provided guidance as to the classification of a number of transactions including: contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, and distributions received from equity method investees. This new ASU was effective for Orion beginning in the first quarter of fiscal 2019 and has been applied through retrospective adjustment to all periods presented. The adoption of this ASU did not have a material impact on Orion’s consolidated financial statements.

In May 2017, the FASB issued ASU 2017-09, “Compensation-Stock Compensation: Scope of Modification Accounting” which provides guidance about which changes to the terms or conditions of a share-based payment award would require an entity to apply modification accounting. The provisions of this ASU were effective for Orion beginning on April 1, 2018. The adoption of this ASU did not have a material impact on Orion’s consolidated financial statements.

REVENUE

12 Months Ended

Mar. 31, 2019

Revenue From Contract With Customer [Abstract]

REVENUE

NOTE 3 — REVENUE

Changes in Accounting Policies

Orion adopted ASC 606 and ASC 340-40 (the “new standards”) as of April 1, 2018 for contracts with customers that were not fully complete as of April 1, 2018 using the modified retrospective transition method. The cumulative effect of initially applying the new standards was recorded as a $0.4 million adjustment to the opening balance of retained deficit within Orion’s Consolidated Statement of Shareholders’ Equity.

The new standards are applied separately for each contract between Orion and a customer. While the impact of the new standards vary for each contract based on its specific terms, in general, the new standards result in Orion (a) delaying the recognition of some of its Product revenue from the point of shipment until a later date during the installation period, (b) recording Service revenue associated with installing lighting fixtures as such fixtures are installed instead of recording all Service revenue at the completion of the installation, and (c) recording costs associated with installing lighting fixtures as they are incurred instead of deferring such costs and recognizing them at the time Service revenue was recorded.

The adoption of the new standards also resulted in reclassifications (a) between Product revenue and Service revenue, and between Cost of service revenue and Sales and marketing expenses in Orion’s Consolidated Statements of Operations, and (b) between Accounts receivable, net, Revenue earned but not billed, Inventories, net, Deferred contract costs, Prepaid expenses and other current assets, Accounts payable, Accrued expenses and other, Deferred revenue, current, Deferred revenue, long-term, and Other long-term liabilities in Orion’s Consolidated Balance Sheets.

For all adjustments and changes as a result of adopting the new standards for the current period, refer to the section “Impacts on Financial Statements” below. In accordance with the modified retrospective transition method, the historical information within Orion’s financial statements has not been restated and continues to be reported under the accounting standard in effect for those periods. As a result, Orion has disclosed the accounting policies in effect prior to April 1, 2018, as well as the policies applied starting April 1, 2018.

Revenue Recognition

See Note 2, Summary of Significant Accounting Policies for a discussion of Orion’s accounting policies in effect prior to April 1, 2018, as well as the policies applied starting April 1, 2018 in regards to revenue recognition.

Contract Fulfillment Costs

Costs associated with product sales are accumulated in inventory as the fixtures are manufactured and are transferred to Cost of product revenue at the time revenue is recorded. See Note 5, Inventories, Net. Costs associated with installation sales are expensed as incurred.

Disaggregation of Revenue

Orion’s Product revenue includes revenue from contracts with customers accounted for under the scope of ASC 606 and revenue which is accounted for under other guidance. For fiscal year 2019, Product revenue included $3.4 million derived from sales-type leases for light fixtures, $0.2 million derived from the sale of tax credits generated from Orion’s legacy operation for distributing solar energy, and $0.1 million derived from the amortization of federal grants received in 2010 and 2011 as reimbursement for a portion of the costs to construct the legacy solar facilities which are not under the scope of ASC 606. All remaining Product revenue, and all Service revenue, are derived from contracts with customers as defined in ASC 606.

The primary end-users of Orion’s lighting products and services are (a) the federal government, and (b) commercial or industrial companies.

The federal government obtains Orion products and services primarily through turnkey project sales that Orion makes to a select group of contractors who focus on the federal government. Revenues associated with government end-users are primarily included in the Orion Engineered Systems Division segment.

Commercial or industrial end-users obtain Orion products and services through turnkey project sales or by purchasing products either direct from Orion or through distributors or energy service companies ("ESCOs"). Revenues associated with commercial and industrial end-users are included within each of Orion’s segments, dependent on the sales channel.

See Footnote 16, Segment Data, for additional discussion concerning Orion’s reportable segments.

The following table provides detail of Orion’s total revenues for the year ended March 31, 2019 (dollars in thousands):

	Year Ended March 31, 2019
	Product		Services		Total
Revenue from contracts with customers:
Lighting revenues, by end user
Federal government	$	2,579	$	642	$	3,221
Commercial and industrial		49,963		8,851		58,814
Total lighting		52,542		9,493		62,035
Solar energy related revenues		57		—		57
Total revenues from contracts with customers		52,599		9,493		62,092
Revenue accounted for under other guidance		3,662		—		3,662
Total revenue	$	56,261	$	9,493	$	65,754

Cash Flow Considerations

Customer payments for material only orders are due shortly after shipment.

Turnkey projects where the end-user is the federal government typically span a three to six-month period. The contracts for these sales often provide for monthly progress payments equal to ninety percent (90%) of the value provided by Orion during the month.

Turnkey projects where the end-user is a commercial or industrial company typically span between two weeks to three months. Customer payment requirements for these projects vary by contract. Some contracts provide for customer payments for products and services as they are delivered, other contracts specify that the customer will pay for the project in its entirety upon completion of the installation.

Orion provides long-term financing to one customer who frequently engages Orion in large turnkey projects that span between three and nine months. The customer executes an agreement providing for monthly payments of the contract price, plus interest, over a five-year period. The total transaction price in these contracts is allocated between product and services in the same manner as all other turnkey projects. The portion of the transaction associated with the installation is accounted for consistently with all other installation related performance obligations. The portion of the transaction associated with the sale of the multiple individual light fixtures is accounted for as sales-type leases in accordance with ASC 840, "Leases". Revenues associated with the sales-type leases are included in Product revenue and recorded for each fixture separately based on the customer’s monthly acknowledgment that specified fixtures have been installed and are operating as specified.

The payments associated with these transactions that are due during the twelve months subsequent to March 31, 2019 are included in Accounts receivable, net in Orion’s Consolidated Balance Sheets. The remaining amounts due that are associated with these transactions are included in Other long-term assets in Orion’s Consolidated Balance Sheets.

The customer’s monthly payment obligation commences after completion of the turnkey project. Orion generally sells the receivable from the customer to an independent financial institution either during, or shortly after completion of, the installation period. Upon execution of the receivables purchase / sales agreement, all amounts due from the customer are included in Revenues earned but not billed on Orion’s Consolidated Balance Sheets until cash is received from the financial institution. The financial institution releases funds to Orion based on the customer’s monthly acknowledgment of the progress Orion has achieved in fulfilling its installation obligation. Orion provides the progress certifications to the financial institution one month in arrears.

The total amount received from the sales of these receivables during the twelve months ended March 31, 2019 was $6.9 million. Orion’s losses on these sales aggregated to $0.3 million for the twelve months ended March 31, 2019 and is included in Interest expense in the Consolidated Statements of Operations.

Practical Expedients and Exemptions

Orion expenses sales commissions when incurred because the amortization period is one year or less. These costs are recorded within Sales and marketing expense. There are no other capitalizable costs associated with obtaining contracts with customers.

Orion’s performance obligations related to lighting fixtures typically do not exceed nine months in duration. As a result, Orion has elected the practical expedient that provides an exemption to the disclosure requirements regarding information about value assigned to remaining performance obligations on contracts that have original expected durations of one year or less.

Orion has also adopted the practical expedient that provides an exemption to the disclosure requirement of the value assigned to performance obligations associated with contracts that were not complete as of April 1, 2018.

Orion also elected the practical expedient that permits companies to not disclose quantitative information about the future revenue when revenue is recognized as invoices are issued to customers for services performed.

Other than the turnkey projects which result in sales-type leases discussed above, Orion generally receives full payment for satisfied performance obligations in less than one year. Accordingly, Orion does not adjust revenues for the impact of any potential significant financing component as permitted by the practical expedients provided in ASC 606.

Contract Balances

A receivable is recognized when Orion has an enforceable right to payment in accordance with contract terms and an invoice has been issued to the customer. Payment terms on invoiced amounts are typically 30 days from the invoice date.

Revenue earned but not billed represents revenue that has been recognized in advance of billing the customer, which is a common practice in Orion turnkey contracts. Once Orion has an unconditional right to consideration under a turnkey contract, Orion typically bills the customer accordingly and reclassifies the amount to Accounts receivable, net. Revenue earned but not billed as of March 31, 2019 and April 1, 2018 includes $0.7 million and $0.6 million, respectively, which was not derived from contracts with customers and therefore not classified as a contract asset as defined by the new standards.

Deferred revenue, current as of March 31, 2019, included $48 thousand of contract liabilities which represented consideration received from customers prior to the point that Orion has fulfilled the promises included in a performance obligation and recorded revenue.

Deferred revenue, long-term consists of the unamortized portion of the funds received from the federal government in 2010 and 2011 as reimbursement for the costs to build the two facilities related to the PPAs. As the transaction is not considered a contract with a customer, this value is not a contract liability as defined by the new standards.

The following chart shows the balance of Orion’s receivables arising from contracts with customers, contract assets and contract liabilities as of March 31, 2019, and April 1, 2018, after the adoption of the new standards (dollars in thousands):

	March 31, 2019		April 1, 2018
Accounts receivable, net	$	14,804	$	9,020
Contract assets	$	3,005	$	1,773
Contract liabilities	$	48	$	13

There were no significant changes in the contract assets outside of standard reclassifications to Accounts receivable, net upon billing. There were no significant changes to contract liabilities.

Impact on Financial Statements (in thousands)

	As Reported March 31, 2019			Adjustments			Balances without application of ASC 606 As of March 31, 2019
Assets
Cash and cash equivalents	$	8,729		$	—		$	8,729
Accounts receivable, net		14,804			(67	)		14,737
Revenue earned but not billed		3,746			(3,746	)		—
Inventories, net		13,403			(351	)		13,052
Deferred contract costs		0			396			396
Prepaid expenses and other current assets		695			3,419			4,114
Total current assets		41,377			(349	)		41,028
Property and equipment, net		12,010			—			12,010
Other intangible assets, net		2,469			—			2,469
Other long-term assets		165			—			165
Total assets	$	56,021		$	(349	)	$	55,672
Liabilities and Shareholders’ Equity
Accounts payable	$	19,706		$	987		$	20,693
Accrued expenses and other		7,410			(1,193	)		6,217
Deferred revenue, current		123			51			174
Current maturities of long-term debt		96			—			96
Total current liabilities		27,335			(155	)		27,180
Revolving credit facility		9,202			—			9,202
Long-term debt, less current maturities		81			—			81
Deferred revenue, long-term		791			104			895
Other long-term liabilities		642			(104	)		538
Total liabilities		38,051			(155	)		37,896
Commitments and contingencies
Shareholders’ equity:
Preferred stock		—			—			—
Common stock		—			—			—
Additional paid-in capital		155,828			—			155,828
Treasury stock		(36,091	)		—			(36,091	)
Retained deficit		(101,767	)		(194	)		(101,961	)
Total shareholders’ equity		17,970			(194	)		17,776
Total liabilities and shareholders’ equity	$	56,021		$	(349	)	$	55,672

	Year Ended March 31, 2019 (in thousands)
	As Reported			Adjustments			Balances without application of ASC 606
Product revenue	$	56,261		$	2,191		$	58,452
Service revenue		9,493			(2,143	)		7,350
Total revenue		65,754			48			65,802
Cost of product revenue		44,111			1			44,112
Cost of service revenue		7,091			(1,472	)		5,619
Total cost of revenue		51,202			(1,471	)		49,731
Gross profit		14,552			1,519			16,071
Operating expenses:
General and administrative		10,231			—			10,231
Sales and marketing		9,104			1,459			10,563
Research and development		1,374			—			1,374
Total operating expenses		20,709			1,459			22,168
Loss from operations		(6,157	)		60			(6,097	)
Other income (expense):
Other income		80			—			80
Interest expense		(493	)		19			(474	)
Amortization of debt issue costs		(101	)					(101	)
Interest income		11			—			11
Total other expense		(503	)		19			(484	)
Loss before income tax		(6,660	)		79			(6,581	)
Income tax expense		14			—			14
Net loss	$	(6,674	)	$	79		$	(6,595	)

	Year Ended March 31, 2019 (in thousands)
	As Reported			Adjustments			Balances without application of ASC 606
Operating activities
Net loss	$	(6,674	)	$	79		$	(6,595	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		1,339			—			1,339
Amortization of intangible assets		444			—			444
Stock-based compensation		825			—			825
Amortization of debt issue costs		101			—			101
Provision for inventory reserves		(202	)		—			(202	)
Provision for bad debts		56			—			56
Other		57			—			57
Changes in operating assets and liabilities:
Accounts receivable		(5,840	)		(217	)		(6,057	)
Revenue earned but not billed		(1,390	)		1,390			—
Inventories		(4,689	)		(335	)		(5,024	)
Deferred contract costs		0			599			599
Prepaid expenses and other assets		68			(1,512	)		(1,444	)
Accounts payable		8,916			102			9,018
Accrued expenses and other		1,975			84			2,059
Deferred revenue, current and long-term		(44	)		(190	)		(234	)
Net cash used in operating activities		(5,058	)		—			(5,058	)
Investing activities
Purchases of property and equipment		(381	)		—			(381	)
Additions to patents and licenses		(68	)		—			(68	)
Net cash used in investing activities		(449	)		—			(449	)
Financing activities
Payment of long-term debt		(80	)		—			(80	)
Proceeds from revolving credit facility		60,270			—			60,270
Payment of revolving credit facility		(54,976	)		—			(54,976	)
Payments to settle employee tax withholdings on stock-based compensation		(10	)		—			(10	)
Debt issue costs		(396	)		—			(396	)
Net proceeds from employee equity exercises		4			—			4
Net cash used in financing activities		4,812			—			4,812
Net decrease in cash and cash equivalents		(695	)		—			(695	)
Cash and cash equivalents at beginning of period		9,424			—			9,424
Cash and cash equivalents at end of period	$	8,729		$	—		$	8,729

ACCOUNTS RECEIVABLE

12 Months Ended

Mar. 31, 2019

Receivables [Abstract]

ACCOUNTS RECEIVABLE

NOTE 4 — ACCOUNTS RECEIVABLE

Orion’s accounts receivable are due from companies in the commercial, governmental, industrial and agricultural industries, as well as wholesalers. Credit is extended based on an evaluation of a customer’s financial condition. Generally, collateral is not required for end users; however, the payment of certain trade accounts receivable from wholesalers is secured by irrevocable standby letters of credit and/or guarantees. Accounts receivable are generally due within 30-60 days. Accounts receivable are stated at the amount Orion expects to collect from outstanding balances. Orion provides for probable uncollectible amounts through a charge to earnings and a credit to an allowance for doubtful accounts based on its assessment of the current status of individual accounts. Balances that are still outstanding after Orion has used reasonable collection efforts are written off through a charge to the allowance for doubtful accounts and a credit to accounts receivable. Orion's accounts receivable and allowance for doubtful accounts balances were as follows (dollars in thousands):

	2019			2018
Accounts receivable, gross	$	15,011		$	8,886
Allowance for doubtful accounts		(207	)		(150	)
Accounts receivable, net	$	14,804		$	8,736

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

INVENTORIES

12 Months Ended

Mar. 31, 2019

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 5 — INVENTORIES

Inventories consist of raw materials and components, such as drivers, metal sheet and coil stock and molded parts; work in process inventories, such as frames and reflectors; and finished goods, including completed fixtures and systems, and accessories. All inventories are stated at the lower of cost or net realizable value with cost determined using the first-in, first-out (FIFO) method. Orion reduces the carrying value of its inventories for differences between the cost and estimated net realizable value, taking into consideration usage in the preceding 9 to 12 months, expected demand, and other information indicating obsolescence. Orion records, as a charge to cost of product revenue, the amount required to reduce the carrying value of inventory to net realizable value. As of March 31, 2019 and 2018, Orion's inventory balances were as follows (dollars in thousands):

	Cost		Excess and Obsolescence Reserve			Net
As of March 31, 2019
Raw materials and components	$	9,161	$	(1,393	)	$	7,768
Work in process		1,010		(269	)		741
Finished goods		6,056		(1,162	)		4,894
Total	$	16,227	$	(2,824	)	$	13,403
As of March 31, 2018
Raw materials and components	$	6,073	$	(1,363	)	$	4,710
Work in process		1,190		(263	)		927
Finished goods		3,934		(1,745	)		2,189
Total	$	11,197	$	(3,371	)	$	7,826

Costs associated with the procurement and warehousing of inventories, such as inbound freight charges and purchasing and receiving costs, are also included in cost of product revenue.

PREPAID EXPENSES AND OTHER CURRENT ASSETS

12 Months Ended

Mar. 31, 2019

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

NOTE 6 — PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets consist primarily of prepaid insurance premiums, prepaid license fees, purchase deposits, advance payments to contractors, unbilled receivables, and prepaid taxes. Prepaid expenses and other current assets include the following (dollars in thousands):

	March 31, 2019		March 31, 2018
Unbilled accounts receivable (1)	$	—	$	1,910
Other prepaid expenses		695		557
Total	$	695	$	2,467

(1)	As of April 1, 2018, in conjunction with the adoption of ASC 606, the balance of Unbilled accounts receivable was included in Revenue earned but not billed on the Consolidated Balance Sheets.

PROPERTY AND EQUIPMENT, NET

12 Months Ended

Mar. 31, 2019

Property Plant And Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE 7 — PROPERTY AND EQUIPMENT

Property and equipment are stated at cost. Expenditures for additions and improvements are capitalized, while replacements, maintenance and repairs, which do not improve or extend the lives of the respective assets, are expensed as incurred. Properties and equipment sold, or otherwise disposed of, are removed from the property and equipment accounts, with gains or losses on disposal credited or charged to income from operations.

Orion periodically reviews the carrying values of property and equipment for impairment in accordance with ASC 360, Property, Plant and Equipment, if events or changes in circumstances indicate that the assets may be impaired. The estimated future undiscounted cash flows expected to result from the use of the assets and their eventual disposition are compared to the assets' carrying amount to determine if a write down to market value is required.

As of September 30, 2018, a triggering event occurred requiring Orion to evaluate its long-lived assets for impairment. Due to the central nature of its operations, Orion’s tangible and intangible definite-lived assets support its full operations, are utilized by all three of its reportable segments, and do not generate separately identifiable cash flows. As such, these assets together represent a single asset group. In reviewing the asset group for impairment, Orion elected to bypass the qualitative impairment assessment and went directly to performing the Step 1 recoverability test. Orion performed the Step 1 recoverability test for the asset group comparing its carrying value to the group’s expected future undiscounted cash flows. Orion concluded that the undiscounted cash flows of the long lived asset group exceeded its carrying value. As such the asset group was deemed recoverable and no impairment was recorded.

Property and equipment were comprised of the following (dollars in thousands):

	March 31, 2019			March 31, 2018
Land and land improvements	$	433		$	424
Buildings and building improvements		9,245			9,245
Furniture, fixtures and office equipment		7,238			7,096
Leasehold improvements		324			324
Equipment leased to customers		4,997			4,997
Plant equipment		12,211			12,106
Construction in progress		43			—
		34,491			34,192
Less: accumulated depreciation and amortization		(22,481	)		(21,298	)
Net property and equipment	$	12,010		$	12,894

Equipment included above under capital leases was as follows (dollars in thousands):

	March 31, 2019			March 31, 2018
Equipment	$	581		$	581
Less: accumulated depreciation and amortization		(486	)		(344	)
Net equipment	$	95		$	237

Depreciation is recognized over the estimated useful lives of the respective assets, using the straight-line method. Orion recorded depreciation expense of $1.3 million, $1.4 million and $1.5 million for the years ended March 31, 2019, 2018 and 2017, respectively.

Depreciable lives by asset category are as follows:

Land improvements		10-15 years
Buildings and building improvements		10-39 years
Furniture, fixtures and office equipment		2-10 years
Leasehold improvements		Shorter of asset life or life of lease
Equipment leased to customers under Power Purchase Agreements		20 years
Plant equipment		3-10 years

No interest was capitalized for construction in progress during fiscal 2019 or fiscal 2018.

OTHER INTANGIBLE ASSETS, NET

12 Months Ended

Mar. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

OTHER INTANGIBLE ASSETS

NOTE 8 — OTHER INTANGIBLE ASSETS

The costs of specifically identifiable intangible assets that do not have an indefinite life are amortized over their estimated useful lives. Intangible assets with indefinite lives are not amortized.

Amortizable intangible assets are amortized over their estimated economic useful life to reflect the pattern of economic benefits consumed based upon the following lives and methods:

Patents	10-17 years	Straight-line
Licenses	7-13 years	Straight-line
Customer relationships	5-8 years	Accelerated based upon the pattern of economic benefits consumed
Developed technology	8 years	Accelerated based upon the pattern of economic benefits consumed
Non-competition agreements	5 years	Straight-line

Intangible assets that have a definite life are evaluated for potential impairment whenever events or circumstances indicate that the carrying value may not be recoverable based primarily upon whether expected future undiscounted cash flows are sufficient to support the asset recovery. If the actual useful life of the asset is shorter than the estimated life, the asset may be deemed to be impaired and accordingly a write-down of the value of the asset determined by a discounted cash flow analysis or shorter amortization period may be required.

Indefinite lived intangible assets are evaluated for impairment at least annually on the first day of Orion’s fiscal fourth quarter, or when indications of potential impairment exist. This annual impairment review may begin with a qualitative test to determine whether it is more likely than not that an indefinite lived intangible asset's carrying value is greater than its fair value. If the qualitative assessment reveals that asset impairment is more likely than not, a quantitative impairment test is performed comparing the fair value of the indefinite lived intangible asset to its carrying value. Alternatively, the qualitative test may be bypassed and the quantitative impairment test may be immediately performed. If the fair value of the indefinite lived intangible asset exceeds its carrying value, the indefinite lived intangible asset is not impaired and no further review is performed. If the carrying value of the indefinite lived intangible asset exceeds its fair value, an impairment loss would be recognized in an amount equal to such excess. Once an impairment loss is recognized, the adjusted carrying value becomes the new accounting basis of the indefinite lived intangible asset.

Orion performed a qualitative assessment in conjunction with its annual impairment test of its indefinite lived intangible assets as of January 1, 2019. This qualitative assessment considered Orion’s operating results for the first nine months of fiscal 2019 in comparison to prior years as well as its anticipated fourth quarter results and fiscal 2019 plan. As a result of the conditions that existed as of the assessment date, an asset impairment was not deemed to be more likely than not and a quantitative analysis was not required.

During the second quarter of fiscal 2018, as a result of lower than anticipated operating results in the first half of fiscal 2018, Orion revised its full year fiscal 2018 forecast. As such, a triggering event occurred as of September 30, 2017, requiring Orion to evaluate its long-lived assets for impairment. Orion performed a quantitative impairment review of its indefinite lived intangible assets related to the Harris trade name applying the royalty replacement method to determine the asset’s fair value as of September 30, 2017. Under the royalty replacement method, the fair value of the Harris tradename was determined based on a market participant’s view of the royalty that would be paid to license the right to use the tradename. This quantitative analysis incorporated several assumptions including forecasted future revenues and cash flows, estimated royalty rate, based on similar licensing transactions and market royalty rates, and discount rate, which incorporates assumptions such as weighted-average cost of capital and risk premium. As a result of this impairment test, the carrying value of the Harris trade name exceeded its estimated fair value and an impairment of $0.7 million was recorded to Impairment of intangible assets during the quarter ended September 30, 2017 to reduce the asset’s carrying value to its calculated fair value. This fair value determination was categorized as Level 3 in the fair value hierarchy.

During the fourth quarter of fiscal 2017, Orion achieved lower than anticipated operating results, made a strategic shift in its manufacturing strategy and approach to the fluorescent and LED exterior lighting market, and revised its fiscal 2018 forecast. As a result, a triggering event occurred requiring the Company to reassess its indefinite lived intangible assets for impairment. As such Orion performed a quantitative impairment review of its indefinite lived intangible assets related to the Harris trade name applying the royalty replacement method to determine the asset’s fair value as of March 31, 2017. Under the royalty replacement method, the fair value of the Harris tradename was determined based on a market participant’s view of the royalty that would be paid to license the right to use the tradename. This quantitative analysis incorporated several assumptions including forecasted future revenues and cash flows, estimated royalty rate, based on similar licensing transactions and market royalty rates, and discount rate, which incorporates assumptions such as weighted-average cost of capital and risk premium. As a result of this impairment test, the carrying value of the Harris trade name exceeded its estimated fair value and an impairment of $0.3 million was recorded to Impairment of assets during the fourth quarter of fiscal 2017 to reduce the asset’s carrying value to its calculated fair value. This fair value determination was categorized as Level 3 in the fair value hierarchy (see “Fair Value of Financial Instruments” for the definition of Level 3 inputs).

The components of, and changes in, the carrying amount of other intangible assets were as follows (dollars in thousands):

	March 31, 2019							March 31, 2018
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Patents	$	2,667	$	(1,529	)	$	1,138	$	2,636	$	(1,370	)	$	1,266
Licenses		58		(58	)		—		58		(58	)		—
Trade name and trademarks		1,007		—			1,007		1,005		—			1,005
Customer relationships		3,600		(3,459	)		141		3,600		(3,326	)		274
Developed technology		900		(717	)		183		900		(582	)		318
Non-competition agreements		—		—			—		100		(95	)		5
Total	$	8,232	$	(5,763	)	$	2,469	$	8,299	$	(5,431	)	$	2,868

As of March 31, 2019, the weighted average useful life of intangible assets was 5.04 years. The estimated amortization expense for each of the next five years is shown below (dollars in thousands):

Fiscal 2020	$	363
Fiscal 2021		288
Fiscal 2022		191
Fiscal 2023		100
Fiscal 2024		96
Thereafter		424
	$	1,462

Amortization expense is set forth in the following table (dollars in thousands):

	Fiscal Year Ended March 31,
	2019		2018		2017
Amortization included in cost of sales:
Patents	$	171	$	159	$	158
Total	$	171	$	159	$	158
Amortization included in operating expenses:
Customer relationships	$	133	$	272	$	542
Developed technology		135		156		161
Non-competition agreements		5		20		20
Patents		—		—		—
Total		273		448		723
Total amortization of intangible assets	$	444	$	607	$	881

Orion’s management periodically reviews the carrying value of patent applications and related costs. When a patent application is probable of being unsuccessful or a patent is no longer in use, Orion writes off the remaining carrying value as a charge to general and administrative expense within its Consolidated Statement of Operations. In fiscal years 2019, 2018, and 2017, write-offs were immaterial.

Included in other income are product royalties received from licensing agreements for our patents.

ACCRUED EXPENSES AND OTHER

12 Months Ended

Mar. 31, 2019

Other Liabilities Disclosure [Abstract]

ACCRUED EXPENSES AND OTHER

NOTE 9 — ACCRUED EXPENSES AND OTHER

As of March 31, 2019 and March 31, 2018, Accrued expenses and other included the following (dollars in thousands):

	March 31, 2019		March 31, 2018
Compensation and benefits	$	1,212	$	1,786
Sales tax		713		237
Contract costs		3,293		985
Legal and professional fees		356		400
Warranty		282		402
Sales returns reserve (1)		141		—
Credits due to customers (1)		987		—
Other accruals		426		361
Total	$	7,410	$	4,171

(1)

Sales returns reserve was previously classified in Accounts receivable, net and Credits due to customers was previously classified in Accounts payable. As of April 1, 2018, in conjunction with the adoption of ASC 606, these balances are now included in Accrued expenses and other on the Consolidated Balance Sheets.

Orion generally offers a limited warranty of one to ten years on its lighting products including the pass through of standard warranties offered by major original equipment component manufacturers. The manufacturers’ warranties cover lamps, ballasts, LED modules, LED chips, LED drivers, control devices, and other fixture related items, which are significant components in Orion's lighting products.

Changes in Orion’s warranty accrual (both current and long-term) were as follows (dollars in thousands):

	March 31,
	2019			2018
Beginning of year	$	673		$	759
Reclassification on adoption of ASC 606		73			—
Accruals		158			43
Warranty claims (net of vendor reimbursements)		(247	)		(129	)
Ending balance	$	657		$	673

NET LOSS PER COMMON SHARE

12 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

NET LOSS PER COMMON SHARE

NOTE 10 — NET LOSS PER COMMON SHARE

Basic net loss per common share is computed by dividing net loss attributable to common shareholders by the weighted-average number of common shares outstanding for the period and does not consider common stock equivalents.

Diluted net loss per common share reflects the dilution that would occur if stock options were exercised and restricted shares vested. In the computation of diluted net loss per common share, Orion uses the treasury stock method for outstanding options, warrants and restricted shares. Diluted net loss per common share is the same as basic net loss per common share for the years ended March 31, 2019, March 31, 2018 and March 31, 2017 because the effects of potentially dilutive securities would be anti-dilutive. The effect of net loss per common share is calculated based upon the following shares:

	Fiscal Year Ended March 31,
	2019			2018			2017
Numerator:
Net loss (dollars in thousands)	$	(6,674	)	$	(13,128	)	$	(12,288	)
Denominator:
Weighted-average common shares outstanding		29,429,540			28,783,830			28,156,382
Weighted-average common shares and share equivalents outstanding		29,429,540			28,783,830			28,156,382
Net loss per common share:
Basic	$	(0.23	)	$	(0.46	)	$	(0.44	)
Diluted	$	(0.23	)	$	(0.46	)	$	(0.44	)

The following table indicates the number of potentially dilutive securities as of the end of each period:

	March 31,
	2019		2018		2017
Common stock options		467,836		629,667		1,520,953
Restricted shares		1,312,593		1,485,799		1,704,543
Total		1,780,429		2,115,466		3,225,496

LONG-TERM DEBT

12 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

LONG-TERM DEBT

NOTE 11 — LONG-TERM DEBT

Long-term debt as of March 31, 2019 and 2018 consisted of the following (dollars in thousands):

	March 31,
	2019			2018
Revolving credit facility	$	9,202		$	3,908
Equipment debt obligations		177			184
Total long-term debt		9,379			4,092
Less current maturities		(96	)		(79	)
Long-term debt, less current maturities	$	9,283		$	4,013

Revolving Credit Agreement

On October 26, 2018, Orion and its subsidiaries entered into a new secured revolving Business Financing Agreement with Western Alliance Bank, as lender (the “New Credit Agreement”). The New Credit Agreement replaced Orion’s prior Credit Agreement.

The New Credit Agreement provides for a two-year revolving credit facility (the “New Credit Facility”) that matures on October 26, 2020. Borrowings under the New Credit Facility are initially limited to $20.15 million, subject to a borrowing base requirement based on eligible receivables and inventory. The New Credit Agreement includes a $2.0 million sublimit for the issuance of letters of credit. As of March 31, 2019, Orion’s borrowing base was $10.6 million, and Orion had $9.2 million in borrowings outstanding which were included in non-current liabilities in the accompanying Consolidated Balance Sheets. Orion had no outstanding letters of credit leaving additional borrowing availability of $1.4 million.

The New Credit Agreement is secured by a security interest in substantially all of Orion's and its subsidiaries’ personal property.

Borrowings under the New Credit Agreement generally bear interest at floating rates based upon the prime rate (but not be less than 5.00% per year) plus an applicable margin determined by reference to Orion’s quick ratio (defined as the aggregate amount of unrestricted cash, unrestricted marketable securities and, with certain adjustments, receivables convertible into cash divided by total current liabilities, including the obligations under the New Credit Agreement). As of March 31, 2019, the interest rate was 6.0%. Among other fees, Orion is required to pay an annual facility fee equal to 0.45% of the credit limit under the New Credit Agreement, which was paid at commencement (October 26, 2018) and is due on each anniversary thereof. With certain exceptions, if the New Credit Agreement is terminated prior to the first anniversary of the closing date of the New Credit Agreement, Orion is required to pay a termination fee equal to 0.50% of the credit limit under the New Credit Agreement.

The New Credit Agreement requires Orion to maintain nine months’ of “RML” as of the end of each month. For purposes of the New Credit Agreement, RML is defined as, as of the applicable determination date, unrestricted cash on deposit with Western Alliance Bank plus availability under the New Credit Agreement divided by an amount equal to, for the applicable trailing three-month period, consolidated net profit before tax, plus depreciation expense, amortization expense and stock-based compensation, minus capital lease principal payments, tested as of the end of each month.

The New Credit Agreement also contains customary events of default and other covenants, including certain restrictions on Orion’s ability to incur additional indebtedness, consolidate or merge, enter into acquisitions, pay any dividend or distribution on Orion’s stock, redeem, retire or purchase shares of Orion’s stock, make investments or pledge or transfer assets. If an event of default under the New Credit Agreement occurs and is continuing, then Western Alliance Bank may cease making advances under the New Credit Agreement and declare any outstanding obligations under the New Credit Agreement to be immediately due and payable. In addition, if Orion becomes the subject of voluntary or involuntary proceedings under any bankruptcy or similar law, then any outstanding obligations under the New Credit Agreement will automatically become immediately due and payable. As of March 31, 2019, Orion was in compliance with all covenants under the New Credit Agreement.

The prior Credit Agreement (“Prior Credit Agreement”) with Wells Fargo Bank, NA, as lender, provided for a revolving credit facility ("Prior Credit Facility") subject to a borrowing base requirement based on eligible receivables and inventory. Subject in each case to Orion's applicable borrowing base limitations, the Prior Credit Agreement otherwise provided for a $15.0 million Prior Credit Facility.

The Prior Credit Agreement contained additional customary covenants, including certain restrictions on Orion’s ability to incur additional indebtedness, consolidate or merge, enter into acquisitions, guarantee obligations of third parties, make loans or advances, declare or pay any dividend or distribution on Orion’s stock, redeem or repurchase shares of Orion’s stock, or pledge or dispose of assets.

Each subsidiary of Orion was a joint and several co-borrower or guarantor under the Prior Credit Agreement, and the Prior Credit Agreement was secured by a security interest in substantially all of Orion’s and each subsidiary’s personal property (excluding various assets relating to customer Orion Throughput Agreements ("OTAs") and a mortgage on certain real property.

Borrowings under the Prior Credit Agreement bore interest at the daily three-month LIBOR plus 3.0% per annum, with a minimum interest charge for each year or portion of a year during the term of the Credit Agreement of $0.1 million, regardless of usage. Orion was required to pay an unused line fee of 0.25% per annum of the daily average unused amount of the Prior Credit Facility and a letter of credit fee at the rate of 3.0% per annum on the undrawn amount of letters of credit outstanding from time to time under the Prior Credit Facility.

Equipment Debt Obligation

In June 2015, Orion entered into an agreement with a financing company in the principal amount of $ $0.4 million to fund the purchase of certain equipment. The debt is secured by the related equipment. The debt bears interest at a rate of 5.94% and matures in June 2020.

In February 2019, Orion entered into additional debt agreements with a financing company in the principal amount of $44 thousand and $30 thousand fund certain equipment. The debts are secured by the related equipment. The debts bear interest at a rate of 6.43% and 8.77% respectively and both debts mature in January 2024.

Customer Equipment Finance Notes Payable

In December 2014, Orion entered into a secured borrowing agreement with a financing company in the principal amount of $0.4 million to fund completed customer contracts under its OTA finance program that were previously funded under a different OTA credit agreement. The loan amount was secured by the OTA-related equipment and the expected future monthly payments under the supporting 25 individual OTA customer contracts. The borrowing agreement bore interest at a rate of 8.36% and matured in April 2018.

Aggregate Maturities

As of March 31, 2019, aggregate maturities of long-term debt were as follows (dollars in thousands):

Fiscal 2020	$	96
Fiscal 2021		9,238
Fiscal 2022		15
Fiscal 2023		16
Fiscal 2024		14
	$	9,379

INCOME TAXES

12 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 12 — INCOME TAXES

The total provision (benefit) for income taxes consists of the following for the fiscal years ended (dollars in thousands):

	Fiscal Year Ended March 31,
	2019			2018			2017
Current	$	(5	)	$	4		$	(261	)
Deferred		19			(19	)		—
Total	$	14		$	(15	)	$	(261	)

	2019			2018			2017
Federal	$	3		$	(28	)	$	(283	)
State		11			13			22
Total	$	14		$	(15	)	$	(261	)

A reconciliation of the statutory federal income tax rate and effective income tax rate is as follows:

	Fiscal Year Ended March 31,
	2019			2018			2017
Statutory federal tax rate		21.0	%		30.8	%		34.0	%
State taxes, net		5.6	%		2.2	%		3.5	%
Federal tax credit		(0.3	)%		(0.3	)%		—	%
Change in valuation reserve		(23.8	)%		51.4	%		(37.6	)%
Permanent items		(1.1	)%		(1.4	)%		(0.5	)%
Change in tax contingency reserve		—	%		(0.1	)%		1.0	%
Federal refunds		0.3	%		0.3	%		1.4	%
U.S. tax reform, corporate rate reduction		—	%		(75.2	)%		—	%
Equity compensation cancellations		(1.0	)%		(15.7	)%		—	%
Federal loss, ASU 2016-09		—	%		7.7	%		—	%
Other, net		(0.9	)%		0.4	%		0.3	%
Effective income tax rate		(0.2	)%		0.1	%		2.1	%

The net deferred tax assets and liabilities reported in the accompanying consolidated financial statements include the following components (dollars in thousands):

	March 31,
	2019			2018
Inventory, accruals and reserves		1,118			1,316
Interest deduction carry-forward		127			—
Federal and state operating loss carry-forwards		22,909			21,333
Tax credit carry-forwards		1,921			1,939
Equity compensation		288			402
Deferred revenue		(90	)		(81	)
Fixed assets		(781	)		(878	)
Intangible assets		(300	)		(363	)
Other		194			154
Valuation allowance		(25,386	)		(23,803	)
Total net deferred tax assets	$	—		$	19

The Tax Cut and Jobs Act ("Act") was enacted December 22, 2017. The Act significantly changes U.S tax law by, among other things, reducing the U.S. federal corporate tax rate from 35% to 21%, imposing a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred, and creating new taxes on certain foreign sourced earnings.

On December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) to address accounting for income tax effects of the Tax Reform Act. At March 31, 2018, Orion had not completed its accounting for the tax effects of enactment of the Act; however, as described below, Orion had made a reasonable estimate of the effects on its existing deferred tax balances and the one-time transition tax.

Orion remeasured its deferred tax assets based on the rates at which they are expected to reverse in the future, which is generally the 21% federal corporate tax rate. The provisional amount recorded related to the remeasurement of its deferred tax balance decreased deferred tax assets by $9.9 million in fiscal 2018. Substantially all of this decrease to deferred tax assets was offset by a corresponding decrease to the valuation allowance. There was no impact on the prior year income tax expense for the federal corporate tax rate change due to Orion's prior year taxable loss.

The Act also required companies to pay a one-time transition tax on Orion's total post-1986 earnings and profits ("E&P") of its foreign subsidiary that were previously tax deferred from US income taxes. Since Orion's foreign subsidiary had negative E&P, the company estimated there was no transition tax to be reported in income tax expense. As of December 31, 2018, Orion did not adjust its estimates and considered all changes due to the Act final.

As of March 31, 2019, Orion has federal net operating loss carryforwards of approximately $88.1 million, and state net operating loss carry-forwards of approximately $74.1 million. Upon adoption of ASU 2016-09, Compensation-Stock Compensation (Topic 718) Improvements to Employee Share-Based Payment Accounting, in the prior fiscal year, the federal and state loss carryforwards associated with historic exercises of NQSOs have been recorded as deferred tax assets. Orion also has federal tax credit carry-forwards of approximately $1.3 million and state tax credits of $0.8 million. All of Orion's tax credit carry-forwards and $155.1 million of its net operating loss carry-forwards will begin to expire in varying amounts between 2020 and 2039. The remaining $7.1 million of its federal and state loss carry-forwards are not subject to time restrictions but may only be used to offset 80% of adjusted taxable income. Additionally, Orion has approximately $0.5 million of interest expense carry-forward that is not subject to time restrictions but subject to a 30% adjusted taxable income limitation. All of its carry-forwards are offset by a valuation allowance

For the fiscal year ended March 31, 2019, Orion has recorded a valuation allowance of $25.4 million against its net deferred tax assets due to the uncertainty of its realization value in the future. For the fiscal year ended March 31, 2019, the valuation allowance against Orion's net federal and net state deferred tax assets increased $1.6 million, primarily due to the current year loss. For the fiscal year ended March 31, 2018, the valuation allowance decreased $6.8 million, primarily because of the reduction in the corporate tax rate. Orion considers future taxable income and ongoing prudent and feasible tax planning strategies in assessing the need for the valuation allowance. In the event that Orion determines that the deferred tax assets are able to be realized, an adjustment to the deferred tax asset would increase income in the period such determination is made.

Generally, a change of more than 50% in the ownership of Orion's stock, by value, over a three-year period constitutes an ownership change for federal income tax purposes as defined under Section 382 of the Internal Revenue Code. As a result, Orion's ability to use its net operating loss carry-forwards, attributable to the period prior to such ownership change, to offset taxable income can be subject to limitations in a particular year, which could potentially result in increased future tax liability for Orion. There was no limitation of net operating loss carry-forwards that occurred for fiscal 2019, fiscal 2018, or fiscal 2017.

Orion records its tax provision based on the respective tax rules and regulations for the jurisdictions in which it operates. Where Orion believes that a tax position is supportable for income tax purposes, the item is included in their income tax returns. Where treatment of a position is uncertain, a liability is recorded based upon the expected most likely outcome taking into consideration the technical merits of the position based on specific tax regulations and facts of each matter. These liabilities may be affected by changing interpretations of laws, rulings by tax authorities, or the expiration of the statute of limitations.

Orion files income tax returns in the United States federal jurisdiction and in several state jurisdictions. The Company's federal tax returns for tax years beginning April 1, 2015 or later are open. For states in which Orion files state income tax returns, the statute of limitations is generally open for tax years ended March 31, 2015 and forward.

State income tax returns are generally subject to examination for a period of 3 to 5 years after filing of the respective return. The state effect of any federal changes remains subject to examination by various states for a period of up to two years after formal notification to the states. Orion currently has no state income tax return positions in the process of examination, administrative appeals or litigation.

Uncertain tax positions

As of March 31, 2019, the balance of gross unrecognized tax benefits was approximately $0.1 million, all of which would affect Orion’s effective tax rate if recognized.

Orion has classified the amounts recorded for uncertain tax benefits in the balance sheet as other liabilities (non-current) to the extent that payment is not anticipated within one year. Orion recognizes penalties and interest related to uncertain tax liabilities in income tax expense. Penalties and interest are included in the unrecognized tax benefits. Orion had the following unrecognized tax benefit activity (dollars in thousands):

	Fiscal Year Ended March 31,
	2019		2018		2017
Unrecognized tax benefits as of beginning of fiscal year	$	129	$	113	$	227
Additions based on tax positions related to the current period positions		1		2		2
Additions/(Reductions) for tax positions of prior years		—		14		(116	)
Unrecognized tax benefits as of end of fiscal year	$	130	$	129	$	113

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Mar. 31, 2019

Commitments And Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 13 — COMMITMENTS AND CONTINGENCIES

Operating Leases

Orion leases office space and equipment under operating leases expiring at various dates through 2021. Rent expense under operating leases was $0.7, $0.9 and $0.9 for fiscal 2019, 2018 and 2017, respectively. Total annual commitments under non-cancelable operating leases with terms in excess of one year at March 31, 2019 are as follows (dollars in thousands):

Fiscal 2020	$	506
Fiscal 2021		323
	$	829

On April 28, 2017, Orion renewed the lease for its Jacksonville, Florida office space for an additional three-year term with annual rent expense of approximately $0.1 million.

On March 31, 2016, Orion entered into a purchase and sale agreement ("Agreement") with third party to sell and leaseback Orion's manufacturing and distribution facility for gross cash proceeds of $2.6 million. The transaction closed on June 30, 2016. Pursuant to the Agreement, a lease was entered into on June 30, 2016, in which Orion is leasing approximately 197,000 square feet of the building for not less than three years, with rent at $2.00 per square foot per annum. Orion's monthly payment under this lease is approximately $33,000. The lease contains options by either party to reduce the amount of leased space after March 1, 2017. On March 22, 2018, both parties agreed to extend the lease until December 31, 2020. Annual rent expense is approximately $0.4 million.

Purchase Commitments

Orion enters into non-cancellable purchase commitments for certain inventory items in order to secure better pricing and ensure materials on hand. As of March 31, 2019, Orion had entered into $13.6 million of purchase commitments related to fiscal 2020 for inventory purchases.

Retirement Savings Plan

Orion sponsors a tax deferred retirement savings plan that permits eligible employees to contribute varying percentages of their compensation up to the limit allowed by the Internal Revenue Service. This plan also provides for discretionary contributions by Orion. In fiscal 2019, 2018 and 2017, Orion made matching contributions of approximately $9 thousand in each of those fiscal years.

Litigation

Orion is subject to various claims and legal proceedings arising in the ordinary course of business. As of the date of this report, Orion is unable to currently assess whether the final resolution of any of such claims or legal proceedings may have a material adverse effect on our future results of operations. In addition to ordinary-course litigation, Orion is a party to the proceedings described below.

On November 10, 2017, a purported shareholder, Stephen Narten, filed a civil lawsuit in the Circuit Court for Manitowoc County against those individuals who served on Orion's board of directors during fiscal years 2015, 2016, and 2017 and certain current and former officers during the same period. The plaintiff, who purported to bring the suit derivatively on behalf of Orion, alleged that the director defendants breached their fiduciary duties in connection with granting certain stock-based incentive awards under Orion's 2004 Stock and Incentive Awards Plan and that the directors and current and former officers breached their fiduciary duties by accepting those awards. During the first quarter of fiscal 2019, the parties reached a settlement of the claims and the case was dismissed. The settlement did not have a material impact on Orion's results of operations, cash flows or financial condition.

State Tax Assessment

In June 2016, Orion negotiated a settlement with the Wisconsin Department of Revenue with respect to an assessment regarding the proper classification of its products for tax purposes under Wisconsin law for $0.5 million.

During fiscal year 2018, Orion was notified of a pending sales and use tax audit by the Wisconsin Department of Revenue for the period covering April 1, 2013 through March 31, 2017. Although the final resolution of the Company’s sales and use tax audit is uncertain, based on current information, in the opinion of the Company’s management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s consolidated balance sheet, statements of operations, or liquidity.

During fiscal 2019, Orion was notified of a pending sales and use tax audit by the California Department of Tax and Fee Administration for the period covering April 1, 2015 through March 31, 2018. Although the final resolution of Orion’s sales and use tax audit is uncertain, based on current information, in the opinion of Orion’s management, the ultimate disposition of these matters will not have a material adverse effect on Orion’s consolidated balance sheets, statement of operations, or liquidity.

SHAREHOLDERS' EQUITY

12 Months Ended

Mar. 31, 2019

Stockholders Equity Note [Abstract]

SHAREHOLDERS' EQUITY

NOTE 14 — SHAREHOLDERS’ EQUITY

Share Repurchase Program and Treasury Stock

In October 2011, Orion’s Board of Directors approved a share repurchase program authorizing Orion to repurchase in aggregate up to a maximum of $1,000,000 of Orion’s outstanding common stock. In November 2011, Orion’s Board of Directors approved an increase to the share repurchase program authorizing Orion to repurchase in aggregate up to a maximum of $2,500,000 of Orion’s outstanding common stock. In April 2012, Orion's Board approved another increase to the share repurchase program authorizing Orion to repurchase in aggregate up to a maximum of $7,500,000 of Orion's outstanding common stock. As of March 31, 2019, Orion had repurchased 3,022,349 shares of common stock at a cost of $6.8 million under the program. Orion did not repurchase any shares in fiscal 2019, fiscal 2018 or fiscal 2017 and does not intend to repurchase any additional common stock under this program in the near-term.

In prior years, Orion issued loans to non-executive employees to purchase shares of its stock. The loan program has been discontinued and new loans are no longer issued. As of March 31, 2017, $4 thousand of such loans remained outstanding and were reflected on Orion’s balance sheet as a contra-equity account. During the quarter ended June 30, 2017, Orion entered into agreements with the counterparties to these loans. In exchange for the forgiveness of their outstanding loan balance, the employees returned their shares to Orion. As a result of this transaction, 1,230 shares were recorded within treasury stock and the loan balances have been eliminated.

Shareholder Rights Plan

On January 3, 2019, Orion entered into Amendment No. 1 to the Rights Agreement, which amends the Rights Agreement dated as of January 7, 2009. Under the amendment, each common share purchase right, if exercisable, will initially represent the right to purchase from Orion, one share of Orion’s common stock, no par value per share, for a purchase price of $7.00 per share.

The Rights will not be exercisable (and will be transferable only with Orion’s common stock) until a “Distribution Date” occurs (or the Rights are earlier redeemed or expire). A Distribution Date generally will occur on the earlier of a public announcement that a person or group of affiliated or associated persons (Acquiring Person) has acquired beneficial ownership of 20% or more of Orion’s outstanding common stock (Shares Acquisition Date) or 10 business days after the commencement of, or the announcement of an intention to make, a tender offer or exchange offer that would result in any such person or group of persons acquiring such beneficial ownership.

If a person becomes an Acquiring Person, holders of Rights (except as otherwise provided in the shareholder rights plan) will have the right to receive that number of shares of Orion’s common stock having a market value of two times the then-current Purchase Price, and all Rights beneficially owned by an Acquiring Person, or by certain related parties or transferees, will be null and void. If, after a Shares Acquisition Date, Orion is acquired in a merger or other business combination transaction or 50% or more of its consolidated assets or earning power are sold, proper provision will be made so that each holder of a Right (except as otherwise provided in the shareholder rights plan) will thereafter have the right to receive that number of shares of the acquiring company’s common stock which at the time of such transaction will have a market value of two times the then-current Purchase Price.

Until a Right is exercised, the holder thereof, as such, will have no rights as a shareholder of Orion. At any time prior to a person becoming an Acquiring Person, the Board of Directors of Orion may redeem the Rights in whole, but not in part, at a price of $0.001 per Right. Unless they are extended or earlier redeemed or exchanged, the Rights will expire on January 7, 2022.

Employee Stock Purchase Plan

In August 2010, Orion’s Board of Directors approved a non-compensatory employee stock purchase plan, or ESPP. The ESPP authorizes 2,500,000 shares to be issued from treasury or authorized shares to satisfy employee share purchases under the ESPP. All full-time employees of Orion are eligible to be granted a non-transferable purchase right each calendar quarter to purchase directly from Orion up to $20,000 of Orion’s common stock at a purchase price equal to 100% of the closing sale price of Orion’s common stock on The NASDAQ Capital Market on the last trading day of each quarter. In prior years, Orion issued loans to non-executive employees to purchase shares of its stock. The loan program has been discontinued and new loans are no longer issued. Orion had the following shares issued from treasury during fiscal 2019 and fiscal 2018:

	As of March 31, 2019
	Shares Issued Under ESPP Plan		Closing Market Price			Shares Issued Under Loan Program		Dollar Value of Loans Issued		Settlement of Loans
Quarter Ended March 31, 2019		1,581	$		0.89		—	$	—	$	—
Quarter Ended December 31, 2018		1,708	$		0.57		—		—		—
Quarter Ended September 30, 2018		938	$		0.96		—		—		—
Quarter Ended June 30, 2018		415	$		1.10		—		—		—
Total		4,642	$	0.57 - 1.10			—		—		—

	As of March 31, 2018
	Shares Issued Under ESPP Plan		Closing Market Price			Shares Issued Under Loan Program		Dollar Value of Loans Issued		Settlement of Loans
Quarter Ended March 31, 2018		1,780	$		0.85		—	$	—	$	—
Quarter Ended December 31, 2017		3,446	$		0.88		—		—		—
Quarter Ended September 30, 2017		2,681	$		1.12		—		—		—
Quarter Ended June 30, 2017		2,150	$		1.28		—		—		4,000
Total		10,057	$	0.85 - 1.28			—		—	$	4,000

As of March 31, 2017, $4 thousand of such loans remained outstanding and were reflected on Orion’s balance sheet as a contra-equity account. During fiscal 2018, Orion entered into agreements with the counterparties to these loans. In exchange for the forgiveness of their outstanding loan balance, the employees returned their shares to Orion. As a result of these transactions, 1,230 shares were recorded within treasury stock and the loan balances were eliminated.

STOCK OPTIONS AND RESTRICTED SHARES

12 Months Ended

Mar. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

STOCK OPTIONS AND RESTRICTED SHARES

NOTE 15 — STOCK OPTIONS AND RESTRICTED SHARES

At Orion's 2016 Annual Meeting of Shareholders held on August 3, 2016, Orion's shareholders approved the Orion Energy Systems, Inc. 2016 Omnibus Incentive Plan (the "Plan"). The Plan authorizes grants of equity-based and incentive cash awards to eligible participants designated by the Plan's administrator. Awards under the Plan may consist of stock options, stock appreciation rights, performance shares, performance units, shares of Orion's common stock ("Common Stock"), restricted stock, restricted stock units, incentive awards or dividend equivalent units. An aggregate of 1,750,000 shares of Common Stock are reserved for issuance under the Plan. As of March 31, 2019, the number of shares available for grant under the plans were 107,860.

Prior to shareholder approval of the Plan, the Company maintained its 2004 Stock and Incentive Awards Plan, as amended, which authorized the grant of cash and equity awards to employees (the “Former Plan”). No new awards will be granted under the Former Plan, however, all awards granted under the Former Plan that were outstanding as of August 3, 2016 will continue to be governed by the Former Plan. Forfeited awards originally issued under the Former Plan are canceled and are not available for subsequent issuance under the 2016 Omnibus Plan.

Certain non-employee directors have elected to receive stock awards in lieu of cash compensation pursuant to elections made under Orion’s non-employee director compensation program. The Plan and the Former Plan also permit accelerated vesting in the event of certain changes of control of Orion as well as under other special circumstances.

Orion historically granted stock options and restricted stock under the Former Plan. Orion has not issued stock options since fiscal 2014 and instead has issued restricted stock.

In fiscal 2019, an aggregate of 529,000 restricted shares were granted valued at a price per share between $0.84 and $1.00, which was the closing market price as of each grant date. In fiscal 2018, an aggregate of 730,410 restricted shares were granted valued at a price per share between $0.88 and $1.95, which was the closing market price as of each grant date. In fiscal 2017, an aggregate of 1,132,392 restricted shares were granted valued at a price per share between $1.35 and $2.22, which was the closing market price as of each grant date.

In fiscal 2018, Orion granted 24,747 shares from the 2004 Stock and Incentive Awards Plan and the 2016 Omnibus Incentive Plan to certain non-employee directors who elected to receive stock awards in lieu of cash compensation. The shares were valued ranging from $0.80 to $1.28 per share, the closing market price as of the issuance dates. In fiscal 2017, Orion granted 53,501 shares from the 2004 Stock and Incentive Awards Plan to certain non-employee directors who elected to receive stock awards in lieu of cash compensation. The shares were valued ranging from $1.38 to $1.85 per share, the closing market price as of the issuance dates.

On June 7, 2016, Orion issued and sold 57,065 shares of its common stock to an executive. On August 5, 2016, Orion sold an aggregate of 63,381 shares of its common stock, in equal amounts, to three recently retired members of Orion's board of directors. In each case above, the purchase price for the shares was calculated based on the closing price of Orion's common stock on the NASDAQ Capital Market of the date of the issuance. The shares of common stock were offered and sold pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(2) and Rule 701.

The following amounts of stock-based compensation expense for restricted shares and options were recorded (dollars in thousands):

	Fiscal Year Ended March 31,
	2019		2018		2017
Cost of product revenue	$	2	$	12	$	30
Cost of service revenue		3		—		—
General and administrative		764		929		1,337
Sales and marketing		54		155		139
Research and development		2		6		99
	$	825	$	1,102	$	1,605

The following table summarizes information with respect to outstanding stock options:

	Number of Shares			Weighted Average Exercise Price
Outstanding at March 31, 2016		2,017,046		$	3.32
Granted		—		$	—
Exercised		(80,000	)	$	2.20
Forfeited		(416,093	)	$	3.41
Outstanding at March 31, 2017		1,520,953		$	3.36
Granted		—		$	—
Exercised		—		$	—
Forfeited		(891,286	)	$	3.51
Outstanding at March 31, 2018		629,667		$	3.14
Granted		—		$	—
Exercised		—		$	—
Forfeited		(161,831	)	$	3.61
Outstanding at March 31, 2019		467,836		$	2.98
Exercisable at March 31, 2019		463,836

The aggregate intrinsic value represents the total pre-tax intrinsic value, which is calculated as the difference between the exercise price of the underlying stock options and the fair value of Orion’s closing common stock price of $0.89 as of March 31, 2019.

The following table summarizes the range of exercise prices on outstanding stock options at March 31, 2019:

	March 31, 2019
	Outstanding		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Vested		Weighted Average Exercise Price
$1.62 - 2.20		143,292		3.51	$	1.90		143,292	$	1.90
$2.41 - 2.75		100,936		3.91		2.48		100,936		2.48
$2.86 - 4.28		194,308		1.51		3.68		190,308		3.68
$4.49 - 4.76		5,000		0.84		4.70		5,000		4.70
$5.35 - 5.44		24,300		0.85		5.44		24,300		5.44
		467,836		2.60	$	2.98		463,836	$	2.97

During fiscal 2019, Orion recognized $5,365 of stock-based compensation expense related to stock options.

During fiscal 2019, Orion granted restricted shares as follows:

Balance at March 31, 2018		1,485,799
Shares issued		529,000
Shares vested		(653,394	)
Shares forfeited		(48,812	)
Shares outstanding at March 31, 2019		1,312,593
Per share price on grant date	$0.84 - 1.00

During fiscal 2019, Orion recognized $0.8 million of stock-based compensation expense related to restricted shares.

As of March 31, 2019, the weighted average grant-date fair value of restricted shares granted was $0.84.

Unrecognized compensation cost related to non-vested common stock-based compensation as of March 31, 2019 is expected to be recognized as follows (dollars in thousands):

Fiscal 2020	$	535
Fiscal 2021		239
Fiscal 2022		40
Fiscal 2023		2
Fiscal 2024		—
Thereafter		—
	$	816
Remaining weighted average expected term	1.7 years

SEGMENT DATA

12 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

SEGMENT DATA

NOTE 16 — SEGMENT DATA

Orion has the following business segments: Orion Engineered Services Division (“OES”), Orion Distribution Services Division (“ODS”), and Orion U.S. Markets Division (“USM”). The accounting policies are the same for each business segment as they are on a consolidated basis.

Orion Engineered Systems Division (“OES”)

The OES segment develops and sells lighting products and provides construction and engineering services for Orion's commercial lighting and energy management systems. OES provides turnkey solutions for large national accounts, governments, municipalities and schools.

Orion Distribution Services Division (“ODS”)

The ODS segment focuses on selling lighting products through manufacturer representative agencies and a network of broadline North American distributors.

Orion U.S. Markets Division (“USM”)

The USM segment sells commercial lighting systems and energy management systems to the wholesale contractor markets. USM customers are primarily comprised of ESCOs.

Corporate and Other

Corporate and Other is comprised of operating expenses not directly allocated to Orion’s segments and adjustments to reconcile to consolidated results (dollars in thousands).

	Revenues						Operating Loss
	For the year ended March 31,						For the year ended March 31,
(dollars in thousands)	2019		2018		2017		2019			2018			2017
Segments:
Engineered Systems	$	30,925	$	23,827	$	29,501	$	(1,237	)	$	(3,792	)	$	(3,647	)
Distribution Services		24,173		27,906		22,858		(1,742	)		(325	)		(927	)
U.S. Markets		10,656		8,567		17,852		1,132			(3,123	)		(1,357	)
Corporate and Other		—		—		—		(4,310	)		(5,741	)		(6,596	)
	$	65,754	$	60,300	$	70,211	$	(6,157	)	$	(12,981	)	$	(12,527	)

	Depreciation and Amortization For the year ended March 31,						Capital Expenditures For the year ended March 31,
	2019		2018		2017		2019		2018		2017
Segments:
Engineered Systems	$	774	$	988	$	1,249	$	165	$	151	$	224
Distribution Services		485		275		148		44		217		184
U.S. Markets		233		267	$	359	$	31		73		150
Corporate and Other		291		481		576		215		71		102
	$	1,783	$	2,011	$	2,332	$	455	$	512	$	660

	Total Assets
	March 31, 2019		March 31, 2018
Segments:
Engineered Systems	$	28,486	$	13,570
Distribution Services		5,704		9,315
U.S. Markets		4,578		3,354
Corporate and Other		17,253		19,086
	$	56,021	$	45,325

Orion’s revenue outside the United States is insignificant and Orion has no long-lived assets outside the United States.

RESTRUCTURING EXPENSE

12 Months Ended

Mar. 31, 2019

Restructuring And Related Activities [Abstract]

RESTRUCTURING EXPENSE

NOTE 17 — RESTRUCTURING EXPENSE

During fiscal 2018, we executed on a cost reduction plan by entering into separation agreements with multiple employees and recognized $43 thousand and $2.1 million of expense in fiscal 2019 and fiscal 2018, respectively, in employee separation related costs. Our restructuring expense for the twelve months ended March 31, 2019 and March 31, 2018 is reflected within our consolidated statements of operations as follows (dollars in thousands):

	Year Ended March 31,		Year Ended March 31,
	2019		2018
Cost of product revenue	$	—	$	34
General and administrative		26		1,822
Sales and marketing		17		211
Research and development		—		79
Total	$	43	$	2,146

Total restructuring expense by segment was recorded as follows (dollars in thousands):

	Year Ended March 31,		Year Ended March 31,
	2019		2018
Orion Distribution Systems	$	12	$	117
Corporate and Other		31		2,029
Total	$	43	$	2,146

We recorded no restructuring expense to the Orion U.S. Markets or Orion Engineered Systems segments.

Cash payments for employee separation costs in connection with the reorganization of business plans were $26 thousand for fiscal 2019 and $1.8 million for fiscal 2018. The remaining restructuring cost accruals as of March 31, 2019 were $0.1 million, which represents post-retirement medical benefits for one former employee which will be paid over several years.

QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Mar. 31, 2019

Quarterly Financial Data [Abstract]

QUARTERLY FINANCIAL DATA (UNAUDITED)

NOTE 19 — QUARTERLY FINANCIAL DATA (UNAUDITED)

Summary quarterly results for the years ended March 31, 2019 and March 31, 2018 are as follows:

	Three Months Ended
	Mar 31, 2019			Dec 31, 2018			Sep 30, 2018			Jun 30, 2018			Total
	(in thousands, except per share amounts)
Total revenue	$	22,443		$	16,291		$	13,198		$	13,822		$	65,754
Gross profit	$	4,384		$	4,170		$	2,542		$	3,456		$	14,552
Net loss	$	(882	)	$	(662	)	$	(2,438	)	$	(2,692	)	$	(6,674	)
Basic net loss per share	$	(0.03	)	$	(0.02	)	$	(0.08	)	$	(0.09	)	$	(0.23	)
Shares used in basic per share calculation		29,590			29,569			29,488			29,070			29,430
Diluted net loss per share	$	(0.03	)	$	(0.02	)	$	(0.08	)	$	(0.09	)	$	(0.23	)
Shares used in diluted per share calculation		29,590			29,569			29,488			29,070			29,430

	Three Months Ended
	Mar 31, 2018			Dec 31, 2017			Sep 30, 2017			Jun 30, 2017			Total
	(in thousands, except per share amounts)
Total revenue	$	15,057		$	17,263		$	15,422		$	12,558		$	60,300
Gross profit	$	3,225		$	5,116		$	3,620		$	2,711		$	14,672
Net loss ⁽¹⁾	$	(1,462	)	$	(1,433	)	$	(3,669	)	$	(6,564	)	$	(13,128	)
Basic net loss per share	$	(0.05	)	$	(0.05	)	$	(0.13	)	$	(0.23	)	$	(0.46	)
Shares used in basic per share calculation		28,935			28,910			28,835			28,455			28,784
Diluted net loss per share	$	(0.05	)	$	(0.05	)	$	(0.13	)	$	(0.23	)	$	(0.46	)
Shares used in diluted per share calculation		28,935			28,910			28,835			28,455			28,784

(1)	Includes a $2.1 million restructuring charge, a $1.4 million loss contingency reversal, and an intangible impairment of $0.7 million.

The four quarters for net earnings per share may not add to the total year because of differences in the weighted average number of shares outstanding during the quarters and the year.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Principles of Consolidation

Reclassifications

Use of Estimates

Cash and Cash Equivalents

Orion considers all highly liquid, short-term investments with original maturities of three months or less to be cash equivalents.

Fair Value of Financial Instruments

Level 1 — Valuations are based on unadjusted quoted prices in active markets for identical assets or liabilities.

Allowance for Doubtful Accounts

Deferred Contract Costs

Incentive Plan

Revenue Recognition

Periods prior to April 1, 2018

Revenue was recognized in accordance with the revenue recognition requirements in “Revenue Recognition” (Topic 605) (“ASC 605”) when the following criteria were met:

persuasive evidence of an arrangement exists;

delivery has occurred and title has passed to the customer;

the sales price is fixed and determinable and no further obligation exists; and

collectability is reasonably assured.

Period Commencing April 1, 2018

General Information

•

when there is a legal transfer of ownership;

•

when the customer obtains physical possession of the products;

•

when the customer starts to receive the benefit of the products;

•

the amount and duration of physical control that Orion maintains on the products after they are shipped to, and received at, the customer’s facility;

•

whether Orion is required to maintain insurance on the lighting fixtures when they are in transit and after they are delivered to the customer’s facility;

•

when each light fixture is physically installed and working correctly;

•

when the customer formally accepts the product; and

•

when Orion receives payment from the customer for the light fixtures.

See Note 9, Accrued Expenses and Other for a discussion of Orion’s accounting for the warranty it provides to customers for its products and services.

Sales taxes collected from customers and remitted to governmental authorities are accounted for on a net (excluded from revenues) basis.

Shipping And Handling Costs

Shipping and Handling Costs

Research and Development

Orion expenses research and development costs as incurred. Amounts are included in the Statement of Operations and Comprehensive Income on the line item Research and development.

Income Taxes

The Tax Cut and Jobs Act ("ACT") was enacted December 22, 2017. Further information on the impacts of the Act can be found in Note 13, Income Taxes.

Stock Based Compensation

Orion’s share-based payments to employees are measured at fair value and are recognized in earnings, on a straight-line basis over the requisite service period.

Orion has not paid dividends in the past and does not plan to pay any dividends in the foreseeable future. Orion estimates its forfeiture rate of unvested stock awards based on historical experience.

Concentration of Credit Risk and Other Risks and Uncertainties

As of March 31, 2019, one customer accounted for 56.2% of accounts receivable and as of March 31, 2018, one customer accounted for 13.2% of accounts receivable.

Recent Accounting Pronouncements

Issued: Not Yet Adopted

Orion management believes that the adoption of ASC 842 will not materially impact Orion’s future consolidated results of operations and will have no impact on Orion’s future cash flows.

Recently Adopted Standards

REVENUE (Tables)

12 Months Ended

Mar. 31, 2019

Disaggregation of Revenue

The following table provides detail of Orion’s total revenues for the year ended March 31, 2019 (dollars in thousands):

	Year Ended March 31, 2019
	Product		Services		Total
Revenue from contracts with customers:
Lighting revenues, by end user
Federal government	$	2,579	$	642	$	3,221
Commercial and industrial		49,963		8,851		58,814
Total lighting		52,542		9,493		62,035
Solar energy related revenues		57		—		57
Total revenues from contracts with customers		52,599		9,493		62,092
Revenue accounted for under other guidance		3,662		—		3,662
Total revenue	$	56,261	$	9,493	$	65,754

Summary of Contract Assets and Liabilities

	March 31, 2019		April 1, 2018
Accounts receivable, net	$	14,804	$	9,020
Contract assets	$	3,005	$	1,773
Contract liabilities	$	48	$	13

ASC 606

Impact of Adopting ASC 606 on Unaudited Condensed Consolidated Balance Sheets

	As Reported March 31, 2019			Adjustments			Balances without application of ASC 606 As of March 31, 2019
Assets
Cash and cash equivalents	$	8,729		$	—		$	8,729
Accounts receivable, net		14,804			(67	)		14,737
Revenue earned but not billed		3,746			(3,746	)		—
Inventories, net		13,403			(351	)		13,052
Deferred contract costs		0			396			396
Prepaid expenses and other current assets		695			3,419			4,114
Total current assets		41,377			(349	)		41,028
Property and equipment, net		12,010			—			12,010
Other intangible assets, net		2,469			—			2,469
Other long-term assets		165			—			165
Total assets	$	56,021		$	(349	)	$	55,672
Liabilities and Shareholders’ Equity
Accounts payable	$	19,706		$	987		$	20,693
Accrued expenses and other		7,410			(1,193	)		6,217
Deferred revenue, current		123			51			174
Current maturities of long-term debt		96			—			96
Total current liabilities		27,335			(155	)		27,180
Revolving credit facility		9,202			—			9,202
Long-term debt, less current maturities		81			—			81
Deferred revenue, long-term		791			104			895
Other long-term liabilities		642			(104	)		538
Total liabilities		38,051			(155	)		37,896
Commitments and contingencies
Shareholders’ equity:
Preferred stock		—			—			—
Common stock		—			—			—
Additional paid-in capital		155,828			—			155,828
Treasury stock		(36,091	)		—			(36,091	)
Retained deficit		(101,767	)		(194	)		(101,961	)
Total shareholders’ equity		17,970			(194	)		17,776
Total liabilities and shareholders’ equity	$	56,021		$	(349	)	$	55,672

Impact of Adopting ASC 606 on Unaudited Condensed Consolidated Statements of Operations

	Year Ended March 31, 2019 (in thousands)
	As Reported			Adjustments			Balances without application of ASC 606
Product revenue	$	56,261		$	2,191		$	58,452
Service revenue		9,493			(2,143	)		7,350
Total revenue		65,754			48			65,802
Cost of product revenue		44,111			1			44,112
Cost of service revenue		7,091			(1,472	)		5,619
Total cost of revenue		51,202			(1,471	)		49,731
Gross profit		14,552			1,519			16,071
Operating expenses:
General and administrative		10,231			—			10,231
Sales and marketing		9,104			1,459			10,563
Research and development		1,374			—			1,374
Total operating expenses		20,709			1,459			22,168
Loss from operations		(6,157	)		60			(6,097	)
Other income (expense):
Other income		80			—			80
Interest expense		(493	)		19			(474	)
Amortization of debt issue costs		(101	)					(101	)
Interest income		11			—			11
Total other expense		(503	)		19			(484	)
Loss before income tax		(6,660	)		79			(6,581	)
Income tax expense		14			—			14
Net loss	$	(6,674	)	$	79		$	(6,595	)

Impact of Adopting ASC 606 on Unaudited Condensed Consolidated Statements of Cash Flows

	Year Ended March 31, 2019 (in thousands)
	As Reported			Adjustments			Balances without application of ASC 606
Operating activities
Net loss	$	(6,674	)	$	79		$	(6,595	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		1,339			—			1,339
Amortization of intangible assets		444			—			444
Stock-based compensation		825			—			825
Amortization of debt issue costs		101			—			101
Provision for inventory reserves		(202	)		—			(202	)
Provision for bad debts		56			—			56
Other		57			—			57
Changes in operating assets and liabilities:
Accounts receivable		(5,840	)		(217	)		(6,057	)
Revenue earned but not billed		(1,390	)		1,390			—
Inventories		(4,689	)		(335	)		(5,024	)
Deferred contract costs		0			599			599
Prepaid expenses and other assets		68			(1,512	)		(1,444	)
Accounts payable		8,916			102			9,018
Accrued expenses and other		1,975			84			2,059
Deferred revenue, current and long-term		(44	)		(190	)		(234	)
Net cash used in operating activities		(5,058	)		—			(5,058	)
Investing activities
Purchases of property and equipment		(381	)		—			(381	)
Additions to patents and licenses		(68	)		—			(68	)
Net cash used in investing activities		(449	)		—			(449	)
Financing activities
Payment of long-term debt		(80	)		—			(80	)
Proceeds from revolving credit facility		60,270			—			60,270
Payment of revolving credit facility		(54,976	)		—			(54,976	)
Payments to settle employee tax withholdings on stock-based compensation		(10	)		—			(10	)
Debt issue costs		(396	)		—			(396	)
Net proceeds from employee equity exercises		4			—			4
Net cash used in financing activities		4,812			—			4,812
Net decrease in cash and cash equivalents		(695	)		—			(695	)
Cash and cash equivalents at beginning of period		9,424			—			9,424
Cash and cash equivalents at end of period	$	8,729		$	—		$	8,729

ACCOUNTS RECEIVABLE (Tables)

12 Months Ended

Mar. 31, 2019

Receivables [Abstract]

Accounts receivable and allowance for doubtful accounts balances

Orion's accounts receivable and allowance for doubtful accounts balances were as follows (dollars in thousands):

	2019			2018
Accounts receivable, gross	$	15,011		$	8,886
Allowance for doubtful accounts		(207	)		(150	)
Accounts receivable, net	$	14,804		$	8,736

INVENTORIES (Tables)

12 Months Ended

Mar. 31, 2019

Inventory Disclosure [Abstract]

Inventories

As of March 31, 2019 and 2018, Orion's inventory balances were as follows (dollars in thousands):

	Cost		Excess and Obsolescence Reserve			Net
As of March 31, 2019
Raw materials and components	$	9,161	$	(1,393	)	$	7,768
Work in process		1,010		(269	)		741
Finished goods		6,056		(1,162	)		4,894
Total	$	16,227	$	(2,824	)	$	13,403
As of March 31, 2018
Raw materials and components	$	6,073	$	(1,363	)	$	4,710
Work in process		1,190		(263	)		927
Finished goods		3,934		(1,745	)		2,189
Total	$	11,197	$	(3,371	)	$	7,826

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)

12 Months Ended

Mar. 31, 2019

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Prepaid expenses and other current assets

Prepaid expenses and other current assets include the following (dollars in thousands):

	March 31, 2019		March 31, 2018
Unbilled accounts receivable (1)	$	—	$	1,910
Other prepaid expenses		695		557
Total	$	695	$	2,467

(1)	As of April 1, 2018, in conjunction with the adoption of ASC 606, the balance of Unbilled accounts receivable was included in Revenue earned but not billed on the Consolidated Balance Sheets.

PROPERTY AND EQUIPMENT, NET (Tables)

12 Months Ended

Mar. 31, 2019

Property Plant And Equipment [Abstract]

Property and equipment

Property and equipment were comprised of the following (dollars in thousands):

	March 31, 2019			March 31, 2018
Land and land improvements	$	433		$	424
Buildings and building improvements		9,245			9,245
Furniture, fixtures and office equipment		7,238			7,096
Leasehold improvements		324			324
Equipment leased to customers		4,997			4,997
Plant equipment		12,211			12,106
Construction in progress		43			—
		34,491			34,192
Less: accumulated depreciation and amortization		(22,481	)		(21,298	)
Net property and equipment	$	12,010		$	12,894

Depreciable lives by asset category are as follows:

Land improvements		10-15 years
Buildings and building improvements		10-39 years
Furniture, fixtures and office equipment		2-10 years
Leasehold improvements		Shorter of asset life or life of lease
Equipment leased to customers under Power Purchase Agreements		20 years
Plant equipment		3-10 years

Schedule of equipment under capital leases

Equipment included above under capital leases was as follows (dollars in thousands):

	March 31, 2019			March 31, 2018
Equipment	$	581		$	581
Less: accumulated depreciation and amortization		(486	)		(344	)
Net equipment	$	95		$	237

OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Mar. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Amortizable Intangible Assets

Amortizable intangible assets are amortized over their estimated economic useful life to reflect the pattern of economic benefits consumed based upon the following lives and methods:

Patents	10-17 years	Straight-line
Licenses	7-13 years	Straight-line
Customer relationships	5-8 years	Accelerated based upon the pattern of economic benefits consumed
Developed technology	8 years	Accelerated based upon the pattern of economic benefits consumed
Non-competition agreements	5 years	Straight-line

Summary of Components and Changes in Other Intangible Assets

The components of, and changes in, the carrying amount of other intangible assets were as follows (dollars in thousands):

	March 31, 2019							March 31, 2018
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Patents	$	2,667	$	(1,529	)	$	1,138	$	2,636	$	(1,370	)	$	1,266
Licenses		58		(58	)		—		58		(58	)		—
Trade name and trademarks		1,007		—			1,007		1,005		—			1,005
Customer relationships		3,600		(3,459	)		141		3,600		(3,326	)		274
Developed technology		900		(717	)		183		900		(582	)		318
Non-competition agreements		—		—			—		100		(95	)		5
Total	$	8,232	$	(5,763	)	$	2,469	$	8,299	$	(5,431	)	$	2,868

Summary of Estimated Amortization Expense

The estimated amortization expense for each of the next five years is shown below (dollars in thousands):

Fiscal 2020	$	363
Fiscal 2021		288
Fiscal 2022		191
Fiscal 2023		100
Fiscal 2024		96
Thereafter		424
	$	1,462

Amortization expense is set forth in the following table (dollars in thousands):

	Fiscal Year Ended March 31,
	2019		2018		2017
Amortization included in cost of sales:
Patents	$	171	$	159	$	158
Total	$	171	$	159	$	158
Amortization included in operating expenses:
Customer relationships	$	133	$	272	$	542
Developed technology		135		156		161
Non-competition agreements		5		20		20
Patents		—		—		—
Total		273		448		723
Total amortization of intangible assets	$	444	$	607	$	881

ACCRUED EXPENSES AND OTHER (Tables)

12 Months Ended

Mar. 31, 2019

Other Liabilities Disclosure [Abstract]

Schedule of accrued expenses and other

As of March 31, 2019 and March 31, 2018, Accrued expenses and other included the following (dollars in thousands):

	March 31, 2019		March 31, 2018
Compensation and benefits	$	1,212	$	1,786
Sales tax		713		237
Contract costs		3,293		985
Legal and professional fees		356		400
Warranty		282		402
Sales returns reserve (1)		141		—
Credits due to customers (1)		987		—
Other accruals		426		361
Total	$	7,410	$	4,171

Changes in warranty accrual

Changes in Orion’s warranty accrual (both current and long-term) were as follows (dollars in thousands):

	March 31,
	2019			2018
Beginning of year	$	673		$	759
Reclassification on adoption of ASC 606		73			—
Accruals		158			43
Warranty claims (net of vendor reimbursements)		(247	)		(129	)
Ending balance	$	657		$	673

NET LOSS PER COMMON SHARE (Tables)

12 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Summary of the effect of net income per common share

The effect of net loss per common share is calculated based upon the following shares:

	Fiscal Year Ended March 31,
	2019			2018			2017
Numerator:
Net loss (dollars in thousands)	$	(6,674	)	$	(13,128	)	$	(12,288	)
Denominator:
Weighted-average common shares outstanding		29,429,540			28,783,830			28,156,382
Weighted-average common shares and share equivalents outstanding		29,429,540			28,783,830			28,156,382
Net loss per common share:
Basic	$	(0.23	)	$	(0.46	)	$	(0.44	)
Diluted	$	(0.23	)	$	(0.46	)	$	(0.44	)

Number of potentially dilutive securities

The following table indicates the number of potentially dilutive securities as of the end of each period:

	March 31,
	2019		2018		2017
Common stock options		467,836		629,667		1,520,953
Restricted shares		1,312,593		1,485,799		1,704,543
Total		1,780,429		2,115,466		3,225,496

LONG-TERM DEBT (Tables)

12 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Summary of Long-Term Debt

Long-term debt as of March 31, 2019 and 2018 consisted of the following (dollars in thousands):

	March 31,
	2019			2018
Revolving credit facility	$	9,202		$	3,908
Equipment debt obligations		177			184
Total long-term debt		9,379			4,092
Less current maturities		(96	)		(79	)
Long-term debt, less current maturities	$	9,283		$	4,013

Schedule of maturities of long-term debt

Aggregate Maturities

As of March 31, 2019, aggregate maturities of long-term debt were as follows (dollars in thousands):

Fiscal 2020	$	96
Fiscal 2021		9,238
Fiscal 2022		15
Fiscal 2023		16
Fiscal 2024		14
	$	9,379

INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of components of income tax expense (benefit)

The total provision (benefit) for income taxes consists of the following for the fiscal years ended (dollars in thousands):

	Fiscal Year Ended March 31,
	2019			2018			2017
Current	$	(5	)	$	4		$	(261	)
Deferred		19			(19	)		—
Total	$	14		$	(15	)	$	(261	)

	2019			2018			2017
Federal	$	3		$	(28	)	$	(283	)
State		11			13			22
Total	$	14		$	(15	)	$	(261	)

Reconciliation of the statutory federal income tax rate and the effective income tax rate

A reconciliation of the statutory federal income tax rate and effective income tax rate is as follows:

	Fiscal Year Ended March 31,
	2019			2018			2017
Statutory federal tax rate		21.0	%		30.8	%		34.0	%
State taxes, net		5.6	%		2.2	%		3.5	%
Federal tax credit		(0.3	)%		(0.3	)%		—	%
Change in valuation reserve		(23.8	)%		51.4	%		(37.6	)%
Permanent items		(1.1	)%		(1.4	)%		(0.5	)%
Change in tax contingency reserve		—	%		(0.1	)%		1.0	%
Federal refunds		0.3	%		0.3	%		1.4	%
U.S. tax reform, corporate rate reduction		—	%		(75.2	)%		—	%
Equity compensation cancellations		(1.0	)%		(15.7	)%		—	%
Federal loss, ASU 2016-09		—	%		7.7	%		—	%
Other, net		(0.9	)%		0.4	%		0.3	%
Effective income tax rate		(0.2	)%		0.1	%		2.1	%

Schedule of deferred tax assets and liabilities

The net deferred tax assets and liabilities reported in the accompanying consolidated financial statements include the following components (dollars in thousands):

	March 31,
	2019			2018
Inventory, accruals and reserves		1,118			1,316
Interest deduction carry-forward		127			—
Federal and state operating loss carry-forwards		22,909			21,333
Tax credit carry-forwards		1,921			1,939
Equity compensation		288			402
Deferred revenue		(90	)		(81	)
Fixed assets		(781	)		(878	)
Intangible assets		(300	)		(363	)
Other		194			154
Valuation allowance		(25,386	)		(23,803	)
Total net deferred tax assets	$	—		$	19

Unrecognized tax benefit activity

Orion had the following unrecognized tax benefit activity (dollars in thousands):

	Fiscal Year Ended March 31,
	2019		2018		2017
Unrecognized tax benefits as of beginning of fiscal year	$	129	$	113	$	227
Additions based on tax positions related to the current period positions		1		2		2
Additions/(Reductions) for tax positions of prior years		—		14		(116	)
Unrecognized tax benefits as of end of fiscal year	$	130	$	129	$	113

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Mar. 31, 2019

Commitments And Contingencies Disclosure [Abstract]

Schedule of annual commitments under non-cancellable operating leases

Total annual commitments under non-cancelable operating leases with terms in excess of one year at March 31, 2019 are as follows (dollars in thousands):

Fiscal 2020	$	506
Fiscal 2021		323
	$	829

SHAREHOLDERS' EQUITY (Tables)

12 Months Ended

Mar. 31, 2019

Stockholders Equity Note [Abstract]

Shares Issued from Treasury

Orion had the following shares issued from treasury during fiscal 2019 and fiscal 2018:

	As of March 31, 2019
	Shares Issued Under ESPP Plan		Closing Market Price			Shares Issued Under Loan Program		Dollar Value of Loans Issued		Settlement of Loans
Quarter Ended March 31, 2019		1,581	$		0.89		—	$	—	$	—
Quarter Ended December 31, 2018		1,708	$		0.57		—		—		—
Quarter Ended September 30, 2018		938	$		0.96		—		—		—
Quarter Ended June 30, 2018		415	$		1.10		—		—		—
Total		4,642	$	0.57 - 1.10			—		—		—

	As of March 31, 2018
	Shares Issued Under ESPP Plan		Closing Market Price			Shares Issued Under Loan Program		Dollar Value of Loans Issued		Settlement of Loans
Quarter Ended March 31, 2018		1,780	$		0.85		—	$	—	$	—
Quarter Ended December 31, 2017		3,446	$		0.88		—		—		—
Quarter Ended September 30, 2017		2,681	$		1.12		—		—		—
Quarter Ended June 30, 2017		2,150	$		1.28		—		—		4,000
Total		10,057	$	0.85 - 1.28			—		—	$	4,000

STOCK OPTIONS AND RESTRICTED SHARES (Tables)

12 Months Ended

Mar. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-based compensation

The following amounts of stock-based compensation expense for restricted shares and options were recorded (dollars in thousands):

	Fiscal Year Ended March 31,
	2019		2018		2017
Cost of product revenue	$	2	$	12	$	30
Cost of service revenue		3		—		—
General and administrative		764		929		1,337
Sales and marketing		54		155		139
Research and development		2		6		99
	$	825	$	1,102	$	1,605

Summary of outstanding stock options

The following table summarizes information with respect to outstanding stock options:

	Number of Shares			Weighted Average Exercise Price
Outstanding at March 31, 2016		2,017,046		$	3.32
Granted		—		$	—
Exercised		(80,000	)	$	2.20
Forfeited		(416,093	)	$	3.41
Outstanding at March 31, 2017		1,520,953		$	3.36
Granted		—		$	—
Exercised		—		$	—
Forfeited		(891,286	)	$	3.51
Outstanding at March 31, 2018		629,667		$	3.14
Granted		—		$	—
Exercised		—		$	—
Forfeited		(161,831	)	$	3.61
Outstanding at March 31, 2019		467,836		$	2.98
Exercisable at March 31, 2019		463,836

Schedule of range of exercise prices

The following table summarizes the range of exercise prices on outstanding stock options at March 31, 2019:

	March 31, 2019
	Outstanding		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Vested		Weighted Average Exercise Price
$1.62 - 2.20		143,292		3.51	$	1.90		143,292	$	1.90
$2.41 - 2.75		100,936		3.91		2.48		100,936		2.48
$2.86 - 4.28		194,308		1.51		3.68		190,308		3.68
$4.49 - 4.76		5,000		0.84		4.70		5,000		4.70
$5.35 - 5.44		24,300		0.85		5.44		24,300		5.44
		467,836		2.60	$	2.98		463,836	$	2.97

Summary of restricted shares granted

During fiscal 2019, Orion granted restricted shares as follows:

Balance at March 31, 2018		1,485,799
Shares issued		529,000
Shares vested		(653,394	)
Shares forfeited		(48,812	)
Shares outstanding at March 31, 2019		1,312,593
Per share price on grant date	$0.84 - 1.00

Schedule of unrecognized compensation cost related to non-vested awards

Unrecognized compensation cost related to non-vested common stock-based compensation as of March 31, 2019 is expected to be recognized as follows (dollars in thousands):

Fiscal 2020	$	535
Fiscal 2021		239
Fiscal 2022		40
Fiscal 2023		2
Fiscal 2024		—
Thereafter		—
	$	816
Remaining weighted average expected term	1.7 years

SEGMENT DATA (Tables)

12 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Schedule of segment information

	Revenues						Operating Loss
	For the year ended March 31,						For the year ended March 31,
(dollars in thousands)	2019		2018		2017		2019			2018			2017
Segments:
Engineered Systems	$	30,925	$	23,827	$	29,501	$	(1,237	)	$	(3,792	)	$	(3,647	)
Distribution Services		24,173		27,906		22,858		(1,742	)		(325	)		(927	)
U.S. Markets		10,656		8,567		17,852		1,132			(3,123	)		(1,357	)
Corporate and Other		—		—		—		(4,310	)		(5,741	)		(6,596	)
	$	65,754	$	60,300	$	70,211	$	(6,157	)	$	(12,981	)	$	(12,527	)

	Depreciation and Amortization For the year ended March 31,						Capital Expenditures For the year ended March 31,
	2019		2018		2017		2019		2018		2017
Segments:
Engineered Systems	$	774	$	988	$	1,249	$	165	$	151	$	224
Distribution Services		485		275		148		44		217		184
U.S. Markets		233		267	$	359	$	31		73		150
Corporate and Other		291		481		576		215		71		102
	$	1,783	$	2,011	$	2,332	$	455	$	512	$	660

	Total Assets
	March 31, 2019		March 31, 2018
Segments:
Engineered Systems	$	28,486	$	13,570
Distribution Services		5,704		9,315
U.S. Markets		4,578		3,354
Corporate and Other		17,253		19,086
	$	56,021	$	45,325

RESTRUCTURING EXPENSE (Tables)

12 Months Ended

Mar. 31, 2019

Restructuring And Related Activities [Abstract]

Restructuring Costs

Our restructuring expense for the twelve months ended March 31, 2019 and March 31, 2018 is reflected within our consolidated statements of operations as follows (dollars in thousands):

	Year Ended March 31,		Year Ended March 31,
	2019		2018
Cost of product revenue	$	—	$	34
General and administrative		26		1,822
Sales and marketing		17		211
Research and development		—		79
Total	$	43	$	2,146

Total restructuring expense by segment was recorded as follows (dollars in thousands):

	Year Ended March 31,		Year Ended March 31,
	2019		2018
Orion Distribution Systems	$	12	$	117
Corporate and Other		31		2,029
Total	$	43	$	2,146

QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)

12 Months Ended

Mar. 31, 2019

Quarterly Financial Data [Abstract]

Schedule of Quarterly Financial Information

Summary quarterly results for the years ended March 31, 2019 and March 31, 2018 are as follows:

	Three Months Ended
	Mar 31, 2019			Dec 31, 2018			Sep 30, 2018			Jun 30, 2018			Total
	(in thousands, except per share amounts)
Total revenue	$	22,443		$	16,291		$	13,198		$	13,822		$	65,754
Gross profit	$	4,384		$	4,170		$	2,542		$	3,456		$	14,552
Net loss	$	(882	)	$	(662	)	$	(2,438	)	$	(2,692	)	$	(6,674	)
Basic net loss per share	$	(0.03	)	$	(0.02	)	$	(0.08	)	$	(0.09	)	$	(0.23	)
Shares used in basic per share calculation		29,590			29,569			29,488			29,070			29,430
Diluted net loss per share	$	(0.03	)	$	(0.02	)	$	(0.08	)	$	(0.09	)	$	(0.23	)
Shares used in diluted per share calculation		29,590			29,569			29,488			29,070			29,430

	Three Months Ended
	Mar 31, 2018			Dec 31, 2017			Sep 30, 2017			Jun 30, 2017			Total
	(in thousands, except per share amounts)
Total revenue	$	15,057		$	17,263		$	15,422		$	12,558		$	60,300
Gross profit	$	3,225		$	5,116		$	3,620		$	2,711		$	14,672
Net loss ⁽¹⁾	$	(1,462	)	$	(1,433	)	$	(3,669	)	$	(6,564	)	$	(13,128	)
Basic net loss per share	$	(0.05	)	$	(0.05	)	$	(0.13	)	$	(0.23	)	$	(0.46	)
Shares used in basic per share calculation		28,935			28,910			28,835			28,455			28,784
Diluted net loss per share	$	(0.05	)	$	(0.05	)	$	(0.13	)	$	(0.23	)	$	(0.46	)
Shares used in diluted per share calculation		28,935			28,910			28,835			28,455			28,784

(1)	Includes a $2.1 million restructuring charge, a $1.4 million loss contingency reversal, and an intangible impairment of $0.7 million.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)		3 Months Ended		12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Apr. 02, 2019 USD ($)	Mar. 31, 2018 USD ($) shares	Mar. 31, 2017 shares	Mar. 31, 2019 USD ($) shares	Mar. 31, 2018 USD ($) financial_instituion	Mar. 31, 2017 USD ($)	Apr. 01, 2019 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Deferred contract costs		$ 1,000,000		$ 0	$ 1,000,000
Revenue				62,092,000
Deferred tax assets valuation allowance				$ 1,600,000
Issuance of stock options \| shares		0	0	0
Number of financial institutions \| financial_instituion					2
ASC Topic 842 \| Subsequent Event
Summary Of Significant Accounting Policies [Line Items]
Operating lease assets and liabilities, net							$ 200,000
Adjustment to retained earnings	$ 0
Revenue \| Customer Concentration Risk \| Customer One
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage				20.70%	11.70%
Revenue \| Customer Concentration Risk \| Customer Two
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage					10.80%
Accounts Receivable \| Customer Concentration Risk \| Customer One
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage				56.20%	13.20%
Transferred over time
Summary Of Significant Accounting Policies [Line Items]
Revenue				$ 0
Deferred Bonus
Summary Of Significant Accounting Policies [Line Items]
Discretionary bonus payments, accrued expenses				$ 0	$ 0	$ 0
Discretionary bonus payments, profit achievement before taxes						$ 500,000
Discretionary bonus payments, revenue achievement percent (minimum)						10.00%
Deferred Bonus \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Discretionary bonus payments, percentage				50.00%	50.00%	35.00%
Deferred Bonus \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Discretionary bonus payments, percentage				100.00%	100.00%	100.00%

REVENUE - Narrative (Details) - USD ($)	3 Months Ended								12 Months Ended
REVENUE - Narrative (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Apr. 01, 2018
Disaggregation Of Revenue [Line Items]
Cumulative effect of initially applying new standards	$ 400,000								$ 400,000
Total revenue	22,443,000	$ 16,291,000	$ 13,198,000	$ 13,822,000	$ 15,057,000	$ 17,263,000	$ 15,422,000	$ 12,558,000	$ 65,754,000	$ 60,300,000	$ 70,211,000
Percentage of contract for sale equal monthly progress payments									90.00%
Proceeds from sale of revenue earned but not billed									$ 6,900,000
Gain (loss) on sale of revenue earned but not billed									$ (300,000)
Revenue, Practical Expedient, Initial Application and Transition, Nondisclosure of Transaction Price Allocation to Remaining Performance Obligation [true false]									true
Revenue, Practical Expedient, Financing Component [true false]									true
Unbilled accounts receivable	$ 700,000								$ 700,000			$ 600,000
Contract liabilities									48,000
Change in contract asset reclassified to accounts receivable									0
Change in contract liability									0
Light fixture sales-type lease
Disaggregation Of Revenue [Line Items]
Total revenue									3,400,000
Sale of tax credits
Disaggregation Of Revenue [Line Items]
Total revenue									200,000
Legacy solar facilities
Disaggregation Of Revenue [Line Items]
Total revenue									$ 100,000

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers									$ 62,092
Revenue accounted for under other guidance									3,662
Total revenue	$ 22,443	$ 16,291	$ 13,198	$ 13,822	$ 15,057	$ 17,263	$ 15,422	$ 12,558	65,754	$ 60,300	$ 70,211
Product revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers									52,599
Revenue accounted for under other guidance									3,662
Total revenue									56,261	55,595	66,224
Service revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers									9,493
Revenue accounted for under other guidance									0
Total revenue									9,493	$ 4,705	$ 3,987
Federal government
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers									3,221
Federal government \| Product revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers									2,579
Federal government \| Service revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers									642
Commercial and industrial
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers									58,814
Commercial and industrial \| Product revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers									49,963
Commercial and industrial \| Service revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers									8,851
Total lighting
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers									62,035
Total lighting \| Product revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers									52,542
Total lighting \| Service revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers									9,493
Solar energy related revenues
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers									57
Solar energy related revenues \| Product revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers									57
Solar energy related revenues \| Service revenue
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers									$ 0

REVENUE - Summary of Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Apr. 01, 2018	Mar. 31, 2018
Revenue From Contract With Customer [Abstract]
Accounts receivable, net	$ 14,804	$ 9,020	$ 8,736
Contract assets	3,005	1,773
Contract liabilities	$ 48	$ 13

REVENUE - Impact of Adopting ASC 606 on Unaudited Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Apr. 01, 2018	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Assets
Cash and cash equivalents	$ 8,729		$ 9,424	$ 17,307	$ 15,542
Accounts receivable, net	14,804	$ 9,020	8,736
Revenue earned but not billed	3,746
Inventories, net	13,403		7,826
Deferred contract costs	0		1,000
Prepaid expenses and other current assets	695		2,467
Total current assets	41,377		29,453
Property and equipment, net	12,010		12,894
Other intangible assets, net	2,469		2,868
Other long-term assets	165		110
Total assets	56,021		45,325
Liabilities and Shareholders’ Equity
Accounts payable	19,706		11,675
Accrued expenses and other	7,410		4,171
Deferred revenue, current	123		499
Current maturities of long-term debt	96		79
Total current liabilities	27,335		16,424
Revolving credit facility	9,202		3,908
Long-term debt, less current maturities	81		105
Deferred revenue, long-term	791		940
Other long-term liabilities	642		524
Total liabilities	38,051		21,901
Commitments and contingencies (Note 13)
Shareholders’ equity:
Preferred stock, $0.01 par value: Shares authorized: 30,000,000 shares at March 31, 2019 and 2018; no shares issued and outstanding at March 31, 2019 and 2018			0
Common stock, no par value: Shares authorized: 200,000,000 at March 31, 2019 and 2018; shares issued: 39,037,969 and 38,384,575 at March 31, 2019 and 2018; shares outstanding: 29,600,158 and 28,953,183 at March 31, 2019 and 2018			0
Additional paid-in capital	155,828		155,003
Treasury stock: 9,437,811 and 9,431,392 common shares at March 31, 2019 and 2018	(36,091)		(36,085)
Retained deficit	(101,767)		(95,494)
Total shareholders’ equity	17,970		23,424	$ 35,450	$ 45,983
Total liabilities and shareholders’ equity	56,021		45,325
ASC 606 \| Adjustments
Assets
Accounts receivable, net	(67)
Revenue earned but not billed	(3,746)
Inventories, net	(351)
Deferred contract costs	396
Prepaid expenses and other current assets	3,419
Total current assets	(349)
Total assets	(349)
Liabilities and Shareholders’ Equity
Accounts payable	987
Accrued expenses and other	(1,193)
Deferred revenue, current	51
Total current liabilities	(155)
Deferred revenue, long-term	104
Other long-term liabilities	(104)
Total liabilities	(155)
Commitments and contingencies (Note 13)
Shareholders’ equity:
Preferred stock, $0.01 par value: Shares authorized: 30,000,000 shares at March 31, 2019 and 2018; no shares issued and outstanding at March 31, 2019 and 2018
Retained deficit	(194)
Total shareholders’ equity	(194)
Total liabilities and shareholders’ equity	(349)
ASC 606 \| Balances without application of ASC 606
Assets
Cash and cash equivalents	8,729		$ 9,424
Accounts receivable, net	14,737
Inventories, net	13,052
Deferred contract costs	396
Prepaid expenses and other current assets	4,114
Total current assets	41,028
Property and equipment, net	12,010
Other intangible assets, net	2,469
Other long-term assets	165
Total assets	55,672
Liabilities and Shareholders’ Equity
Accounts payable	20,693
Accrued expenses and other	6,217
Deferred revenue, current	174
Current maturities of long-term debt	96
Total current liabilities	27,180
Revolving credit facility	9,202
Long-term debt, less current maturities	81
Deferred revenue, long-term	895
Other long-term liabilities	538
Total liabilities	37,896
Commitments and contingencies (Note 13)
Shareholders’ equity:
Preferred stock, $0.01 par value: Shares authorized: 30,000,000 shares at March 31, 2019 and 2018; no shares issued and outstanding at March 31, 2019 and 2018
Additional paid-in capital	155,828
Treasury stock: 9,437,811 and 9,431,392 common shares at March 31, 2019 and 2018	(36,091)
Retained deficit	(101,961)
Total shareholders’ equity	17,776
Total liabilities and shareholders’ equity	$ 55,672

REVENUE - Impact of Adopting ASC 606 on Unaudited Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	$ 22,443	$ 16,291	$ 13,198	$ 13,822	$ 15,057	$ 17,263	$ 15,422	$ 12,558	$ 65,754	$ 60,300	$ 70,211
Cost of revenue									51,202	45,628	52,874
Gross profit	4,384	4,170	2,542	3,456	3,225	5,116	3,620	2,711	14,552	14,672	17,337
Operating expenses:
General and administrative									10,231	13,159	14,777
Sales and marketing									9,104	11,879	12,833
Research and development									1,374	1,905	2,004
Total operating expenses									20,709	27,653	29,864
Loss from operations									(6,157)	(12,981)	(12,527)
Other income (expense):
Other income									80	248	215
Interest expense									(493)	(333)	(163)
Amortization of debt issue costs									(101)	(92)	(110)
Interest income									11	15	36
Total other expense									(503)	(162)	(22)
Loss before income tax									(6,660)
Income tax expense									14	(15)	(261)
Net loss	$ (882)	$ (662)	$ (2,438)	$ (2,692)	$ (1,462)	$ (1,433)	$ (3,669)	$ (6,564)	(6,674)	(13,128)	(12,288)
ASC 606 \| Adjustments
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue									48
Cost of revenue									(1,471)
Gross profit									1,519
Operating expenses:
Sales and marketing									1,459
Total operating expenses									1,459
Loss from operations									60
Other income (expense):
Interest expense									19
Total other expense									19
Loss before income tax									79
Net loss									79
ASC 606 \| Balances without application of ASC 606
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue									65,802
Cost of revenue									49,731
Gross profit									16,071
Operating expenses:
General and administrative									10,231
Sales and marketing									10,563
Research and development									1,374
Total operating expenses									22,168
Loss from operations									(6,097)
Other income (expense):
Other income									80
Interest expense									(474)
Amortization of debt issue costs									(101)
Interest income									11
Total other expense									(484)
Loss before income tax									(6,581)
Income tax expense									14
Net loss									(6,595)
Product revenue
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue									56,261	55,595	66,224
Cost of revenue									44,111	41,415	49,630
Product revenue \| ASC 606 \| Adjustments
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue									2,191
Cost of revenue									1
Product revenue \| ASC 606 \| Balances without application of ASC 606
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue									58,452
Cost of revenue									44,112
Service revenue
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue									9,493	4,705	3,987
Cost of revenue									7,091	$ 4,213	$ 3,244
Service revenue \| ASC 606 \| Adjustments
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue									(2,143)
Cost of revenue									(1,472)
Service revenue \| ASC 606 \| Balances without application of ASC 606
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue									7,350
Cost of revenue									$ 5,619

REVENUE - Impact of Adopting ASC 606 on Unaudited Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Operating activities
Net loss	$ (882)	$ (662)	$ (2,438)	$ (2,692)	$ (1,462)	$ (1,433)	$ (3,669)	$ (6,564)	$ (6,674)	$ (13,128)	$ (12,288)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation									1,339	1,404	1,451
Amortization of intangible assets									444	607	881
Stock-based compensation									825	1,102	1,605
Amortization of debt issue costs									101	92	110
Provision for inventory reserves									(202)	1,261	2,212
Provision for bad debts									56	22	132
Other									57	(94)	178
Changes in operating assets and liabilities:
Accounts receivable									(5,840)	419	1,687
Revenue earned but not billed									(1,390)
Inventories									(4,689)	4,706	1,220
Deferred contract costs									0	(65)	(899)
Prepaid expenses and other current assets									68	391	1,974
Accounts payable									8,916	20	(81)
Accrued expenses and other									1,975	(1,736)	(635)
Deferred revenue, current and long-term									(44)	(126)	300
Net cash used in operating activities									(5,058)	(4,415)	(1,903)
Investing activities
Purchase of property and equipment									(381)	(512)	(660)
Additions to patents and licenses									(68)	(73)	(291)
Net cash (used in) provided by investing activities									(449)	(585)	1,649
Financing activities
Payment of long-term debt									(80)	(158)	(880)
Proceeds from revolving credit facility									60,270	68,734	87,935
Payment of revolving credit facility									(54,976)	(71,456)	(85,025)
Payments to settle employee tax withholdings on stock-based compensation									(10)	(9)	(19)
Debt issue costs									(396)
Net proceeds from employee equity exercises									4	6	8
Net cash provided by (used in) financing activities									4,812	(2,883)	2,019
Net (decrease) increase in cash and cash equivalents									(695)	(7,883)	1,765
Cash and cash equivalents at beginning of period				9,424				$ 17,307	9,424	17,307	15,542
Cash and cash equivalents at end of period	8,729				9,424				8,729	9,424	$ 17,307
ASC 606 \| Adjustments
Operating activities
Net loss									79
Changes in operating assets and liabilities:
Accounts receivable									(217)
Revenue earned but not billed									1,390
Inventories									(335)
Deferred contract costs									599
Prepaid expenses and other current assets									(1,512)
Accounts payable									102
Accrued expenses and other									84
Deferred revenue, current and long-term									(190)
ASC 606 \| Balances without application of ASC 606
Operating activities
Net loss									(6,595)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation									1,339
Amortization of intangible assets									444
Stock-based compensation									825
Amortization of debt issue costs									101
Provision for inventory reserves									(202)
Provision for bad debts									56
Other									57
Changes in operating assets and liabilities:
Accounts receivable									(6,057)
Inventories									(5,024)
Deferred contract costs									599
Prepaid expenses and other current assets									(1,444)
Accounts payable									9,018
Accrued expenses and other									2,059
Deferred revenue, current and long-term									(234)
Net cash used in operating activities									(5,058)
Investing activities
Purchase of property and equipment									(381)
Additions to patents and licenses									(68)
Net cash (used in) provided by investing activities									(449)
Financing activities
Payment of long-term debt									(80)
Proceeds from revolving credit facility									60,270
Payment of revolving credit facility									(54,976)
Payments to settle employee tax withholdings on stock-based compensation									(10)
Debt issue costs									(396)
Net proceeds from employee equity exercises									4
Net cash provided by (used in) financing activities									4,812
Net (decrease) increase in cash and cash equivalents									(695)
Cash and cash equivalents at beginning of period				$ 9,424					9,424
Cash and cash equivalents at end of period	$ 8,729				$ 9,424				$ 8,729	$ 9,424

ACCOUNTS RECEIVABLE (Accounts Receivable and Allowance for Doubtful Accounts) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Apr. 01, 2018	Mar. 31, 2018
Receivables [Abstract]
Accounts receivable, gross	$ 15,011		$ 8,886
Allowance for doubtful accounts	(207)		(150)
Accounts receivable, net	$ 14,804	$ 9,020	$ 8,736

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Cost
Raw materials and components	$ 9,161	$ 6,073
Work in process	1,010	1,190
Finished goods	6,056	3,934
Total	16,227	11,197
Reserve
Raw materials and components	(1,393)	(1,363)
Work in process	(269)	(263)
Finished goods	(1,162)	(1,745)
Total	(2,824)	(3,371)
Net
Raw materials and components	7,768	4,710
Work in process	741	927
Finished goods	4,894	2,189
Total	$ 13,403	$ 7,826

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($)
$ in Thousands

Mar. 31, 2019

Mar. 31, 2018

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Unbilled accounts receivable

^[1]

$ 1,910

Other prepaid expenses

$ 695

557

Total

$ 695

$ 2,467

[1]	As of April 1, 2018, in conjunction with the adoption of ASC 606, the balance of Unbilled accounts receivable was included in Revenue earned but not billed on the Consolidated Balance Sheets.

PROPERTY AND EQUIPMENT (Summary of Property and Equipment) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Property and equipment
Gross property and equipment	$ 34,491	$ 34,192
Less: accumulated depreciation and amortization	(22,481)	(21,298)
Net property and equipment	12,010	12,894
Land and land improvements
Property and equipment
Gross property and equipment	433	424
Buildings and building improvements
Property and equipment
Gross property and equipment	9,245	9,245
Furniture, fixtures and office equipment
Property and equipment
Gross property and equipment	7,238	7,096
Leasehold Improvements
Property and equipment
Gross property and equipment	324	324
Equipment leased to customers
Property and equipment
Gross property and equipment	4,997	4,997
Plant equipment
Property and equipment
Gross property and equipment	12,211	$ 12,106
Construction in progress
Property and equipment
Gross property and equipment	$ 43

PROPERTY AND EQUIPMENT (Equipment under Capital Leases) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Capital Leased Assets [Line Items]
Equipment	$ 34,491	$ 34,192
Less: accumulated depreciation and amortization	(22,481)	(21,298)
Net property and equipment	12,010	12,894
Assets Held under Capital Leases
Capital Leased Assets [Line Items]
Equipment	581	581
Less: accumulated depreciation and amortization	(486)	(344)
Net property and equipment	$ 95	$ 237

PROPERTY AND EQUIPMENT (Useful Lives) (Details)	12 Months Ended
PROPERTY AND EQUIPMENT (Useful Lives) (Details)	Mar. 31, 2019
Land improvements \| Minimum
Property and equipment
Property, plant and equipment, useful life	10 years
Land improvements \| Maximum
Property and equipment
Property, plant and equipment, useful life	15 years
Buildings and building improvements \| Minimum
Property and equipment
Property, plant and equipment, useful life	10 years
Buildings and building improvements \| Maximum
Property and equipment
Property, plant and equipment, useful life	39 years
Furniture, fixtures and office equipment \| Minimum
Property and equipment
Property, plant and equipment, useful life	2 years
Furniture, fixtures and office equipment \| Maximum
Property and equipment
Property, plant and equipment, useful life	10 years
Leasehold Improvements
Property and equipment
Property, plant and equipment, useful life	Shorter of asset life or life of lease
Equipment leased to customers under Power Purchase Agreements
Property and equipment
Property, plant and equipment, useful life	20 years
Plant equipment \| Minimum
Property and equipment
Property, plant and equipment, useful life	3 years
Plant equipment \| Maximum
Property and equipment
Property, plant and equipment, useful life	10 years

OTHER INTANGIBLE ASSETS (Useful Lives) (Details)	12 Months Ended
OTHER INTANGIBLE ASSETS (Useful Lives) (Details)	Mar. 31, 2019
Patents
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful life descrption	Straight-line
Patents \| Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful life	10 years
Patents \| Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful life	17 years
Licenses
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful life descrption	Straight-line
Licenses \| Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful life	7 years
Licenses \| Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful life	13 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful life descrption	Accelerated based upon the pattern of economic benefits consumed
Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful life	5 years
Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful life	8 years
Developed technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful life	8 years
Intangible assets, useful life descrption	Accelerated based upon the pattern of economic benefits consumed
Non-competition agreements
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful life	5 years
Intangible assets, useful life descrption	Straight-line

OTHER INTANGIBLE ASSETS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2017	Mar. 31, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Impairment of intangible assets				$ 710	$ 250
Weighted Average
Segment Reporting Information [Line Items]
Intangible assets, useful life			5 years 14 days
Trade name and trademarks
Segment Reporting Information [Line Items]
Impairment of intangible assets		$ 300
Trade name and trademarks
Segment Reporting Information [Line Items]
Impairment of assets	$ 700

OTHER INTANGIBLE ASSETS, NET (Summary of Components and Changes in Other Intangible Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 8,232	$ 8,299
Accumulated Amortization	(5,763)	(5,431)
Intangible Assets, Net	2,469	2,868
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,667	2,636
Accumulated Amortization	(1,529)	(1,370)
Intangible Assets, Net	1,138	1,266
Licenses
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	58	58
Accumulated Amortization	(58)	(58)
Intangible Assets, Net	0	0
Trade name and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,007	1,005
Accumulated Amortization	0	0
Intangible Assets, Net	1,007	1,005
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,600	3,600
Accumulated Amortization	(3,459)	(3,326)
Intangible Assets, Net	141	274
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	900	900
Accumulated Amortization	(717)	(582)
Intangible Assets, Net	183	318
Non-competition agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	0	100
Accumulated Amortization	0	(95)
Intangible Assets, Net	$ 0	$ 5

OTHER INTANGIBLE ASSETS (Summary of Estimated Amortization Expense) (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Finite-Lived Intangible Assets, Estimated Amortization Expense
Fiscal 2020	$ 363
Fiscal 2021	288
Fiscal 2022	191
Fiscal 2023	100
Fiscal 2024	96
Thereafter	424
Total	$ 1,462

OTHER INTANGIBLE ASSETS (Summary of Amortization Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 444	$ 607	$ 881
Cost of product revenue
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	171	159	158
Cost of product revenue \| Patents
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	171	159	158
Operating Expenses
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	273	448	723
Operating Expenses \| Patents
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	0	0	0
Operating Expenses \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	133	272	542
Operating Expenses \| Developed technology
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	135	156	161
Operating Expenses \| Non-competition agreements
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 5	$ 20	$ 20

ACCRUED EXPENSES AND OTHER (Accrued Expenses and Other) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Other Liabilities Disclosure [Abstract]
Compensation and benefits	$ 1,212	$ 1,786
Sales tax	713	237
Contract costs	3,293	985
Legal and professional fees	356	400
Warranty	282	402
Sales returns reserve	141	0
Credits due to customers	987	0
Other accruals	426	361
Total	$ 7,410	$ 4,171

ACCRUED EXPENSES AND OTHER (Warranty Accrual) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Movement in Standard Product Warranty Accrual
Beginning of year	$ 673	$ 759
Reclassification on adoption of ASC 606	73
Accruals	158	43
Warranty claims (net of vendor reimbursements)	(247)	(129)
End of year	$ 657	$ 673

NET LOSS PER COMMON SHARE (Earnings per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Numerator:
Net loss	$ (882)	$ (662)	$ (2,438)	$ (2,692)	$ (1,462)	$ (1,433)	$ (3,669)	$ (6,564)	$ (6,674)	$ (13,128)	$ (12,288)
Denominator:
Weighted-average common shares outstanding (in shares)	29,590,000	29,569,000	29,488,000	29,070,000	28,935,000	28,910,000	28,835,000	28,455,000	29,429,540	28,783,830	28,156,382
Weighted-average common shares and share equivalents outstanding (in shares)	29,590,000	29,569,000	29,488,000	29,070,000	28,935,000	28,910,000	28,835,000	28,455,000	29,429,540	28,783,830	28,156,382
Net loss per common share:
Basic (USD per share)	$ (0.03)	$ (0.02)	$ (0.08)	$ (0.09)	$ (0.05)	$ (0.05)	$ (0.13)	$ (0.23)	$ (0.23)	$ (0.46)	$ (0.44)
Diluted (USD per share)	$ (0.03)	$ (0.02)	$ (0.08)	$ (0.09)	$ (0.05)	$ (0.05)	$ (0.13)	$ (0.23)	$ (0.23)	$ (0.46)	$ (0.44)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1337-109256

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=109256448&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1252-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=114873765&loc=SL114874048-224260

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109260490&loc=SL5780133-109256

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=109256448&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1252-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=114873765&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109260490&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

NET LOSS PER COMMON SHARE (Potentially Dilutive Securities) (Details) - shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2017
Number of potentially dilutive securities
Potentially dilutive securities outstanding (in shares)	1,780,429	2,115,466	3,225,496
Common stock options
Number of potentially dilutive securities
Potentially dilutive securities outstanding (in shares)	467,836	629,667	1,520,953
Restricted shares
Number of potentially dilutive securities
Potentially dilutive securities outstanding (in shares)	1,312,593	1,485,799	1,704,543

LONG-TERM DEBT (Summary of Long-Term Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Long-term debt
Total long-term debt	$ 9,379	$ 4,092
Less current maturities	(96)	(79)
Long-term debt, less current maturities	9,283	4,013
Revolving credit facility
Long-term debt
Total long-term debt	9,202	3,908
Equipment debt obligations
Long-term debt
Total long-term debt	$ 177	$ 184

LONG-TERM DEBT (Narrative) (Details)		12 Months Ended
LONG-TERM DEBT (Narrative) (Details)	Oct. 26, 2018 USD ($)	Mar. 31, 2019 USD ($)	Feb. 28, 2019 USD ($)	Mar. 31, 2018 USD ($)	Jun. 30, 2015 USD ($)	Dec. 31, 2014 USD ($) contract
Line Of Credit Facility [Line Items]
Revolving credit facility		$ 9,202,000		$ 3,908,000
Outstanding letters of credit		$ 0
Equipment debt obligations
Line Of Credit Facility [Line Items]
Principal amount of debt					$ 400,000
Stated interest rate, percentage					5.94%
Debt maturity month and year		2020-06
New Credit Agreement \| Western Alliance Bank \| Line of credit \| Revolving credit facility
Line Of Credit Facility [Line Items]
Contractual term	2 years
Credit facility maturity date		Oct. 26, 2020
Credit facility, maximum limit	$ 20,150,000
Proceeds from Lines of Credit		$ 10,600,000
Revolving credit facility		9,200,000
Credit facility, additional borrowing capacity		$ 1,400,000
Annual facility fee (as a percentage)	0.45%
Termination fee (as a percentage)	0.50%
Interest rate		6.00%
New Credit Agreement \| Western Alliance Bank \| Line of credit \| Revolving credit facility \| Minimum \| PrimeRateMember
Line Of Credit Facility [Line Items]
Basis spread on variable rate	5.00%
New Credit Agreement \| Western Alliance Bank \| Line of credit \| Letter of credit
Line Of Credit Facility [Line Items]
Credit facility, maximum limit	$ 2,000,000
Prior Credit Agreement \| Wells Fargo Bank, National Association \| Revolving credit facility
Line Of Credit Facility [Line Items]
Credit facility, maximum limit		$ 15,000,000
Interest charge		$ 100,000
Commitment fee percentage		0.25%
Prior Credit Agreement \| Wells Fargo Bank, National Association \| Revolving credit facility \| London Interbank Offered Rate (LIBOR)
Line Of Credit Facility [Line Items]
Basis spread on variable rate		3.00%
Prior Credit Agreement \| Wells Fargo Bank, National Association \| Line of credit
Line Of Credit Facility [Line Items]
Commitment fee percentage		3.00%
Debt Instrument 1 \| Equipment debt obligations
Line Of Credit Facility [Line Items]
Principal amount of debt			$ 44,000
Stated interest rate, percentage			6.43%
Debt maturity month and year		2024-01
Debt Instrument 2 \| Equipment debt obligations
Line Of Credit Facility [Line Items]
Principal amount of debt			$ 30,000
Stated interest rate, percentage			8.77%
Debt maturity month and year		2024-01
December 2014 OTA Finance Program \| De Lage Landen Financial Services, Inc. \| Secured Debt
Line Of Credit Facility [Line Items]
Stated interest rate, percentage						8.36%
Principal amount of secured debt						$ 400,000
"Number of individual OTA customer contracts (contract) \| contract						25

LONG-TERM DEBT (Aggregate Maturities) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Debt Disclosure [Abstract]
Fiscal 2020	$ 96
Fiscal 2021	9,238
Fiscal 2022	15
Fiscal 2023	16
Fiscal 2024	14
Total long-term debt	$ 9,379	$ 4,092

INCOME TAXES (Schedule of Components of Income Tax Expense or Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Current	$ (5)	$ 4	$ (261)
Deferred	19	(19)	0
Total provision (benefit) for income taxes	14	(15)	(261)
Federal	3	(28)	(283)
State	$ 11	$ 13	$ 22

INCOME TAXES (Reconciliation of Tax Rates) (Details)	12 Months Ended
INCOME TAXES (Reconciliation of Tax Rates) (Details)	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Statutory federal tax rate	21.00%	30.80%	34.00%
State taxes, net	5.60%	2.20%	3.50%
Federal tax credit	(0.30%)	(0.30%)	(0.00%)
Change in valuation reserve	(23.80%)	51.40%	(37.60%)
Permanent items	(1.10%)	(1.40%)	(0.50%)
Change in tax contingency reserve	0.00%	(0.10%)	1.00%
Federal refunds	0.30%	0.30%	1.40%
U.S. tax reform, corporate rate reduction	0.00%	(75.20%)	0.00%
Equity compensation cancellations	(1.00%)	(15.70%)	0.00%
Federal loss, ASU 2016-09	0.00%	7.70%	0.00%
Other, net	(0.90%)	0.40%	0.30%
Effective income tax rate	(0.20%)	0.10%	2.10%

INCOME TAXES (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Inventory, accruals and reserves	$ 1,118	$ 1,316
Interest deduction carry-forward	127	0
Federal and state operating loss carry-forwards	22,909	21,333
Tax credit carry-forwards	1,921	1,939
Equity compensation	288	402
Deferred revenue	(90)	(81)
Fixed assets	(781)	(878)
Intangible assets	(300)	(363)
Other	194	154
Valuation allowance	(25,386)	(23,803)
Total net deferred tax assets	$ 0	$ 19

INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Operating Loss Carryforwards [Line Items]
Deferred tax assets, provisional amount		$ 9,900
Statutory federal tax rate	21.00%	30.80%	34.00%
Interest expense carry-forwards	$ 500
Adjusted taxable income limitation	30.00%
Valuation allowance	$ 25,386	$ 23,803
Increase (decrease) in valuation allowance	1,600	(6,800)
Unrecognized tax benefits	130	$ 129	$ 113	$ 227
Minimum
Operating Loss Carryforwards [Line Items]
Examination period for state income tax returns		3 years
Maximum
Operating Loss Carryforwards [Line Items]
Examination period for state income tax returns		5 years
Tax Year 2020 To 2039
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	155,100
Tax Not Subject To Time Restriction
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 7,100
Operating loss carryforwards, percentage of adjusted taxable income to offset	80.00%
Domestic Country
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 88,100
Tax credit carryforwards	1,300
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	74,100
Tax credit carryforwards	$ 800

INCOME TAXES (Unrecognized Tax Benefit Activity) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Unrecognized tax benefits as of beginning of fiscal year	$ 129	$ 113	$ 227
Additions based on tax positions related to the current period positions	1	2	2
Reductions for tax positions of prior years	0		(116)
Increase in tax positions of prior years		14
Unrecognized tax benefits as of end of fiscal year	$ 130	$ 129	$ 113

COMMITMENTS AND CONTINGENCIES (Details)				12 Months Ended
COMMITMENTS AND CONTINGENCIES (Details)	Mar. 31, 2017 USD ($)	Jun. 30, 2016 USD ($) ft²	Mar. 31, 2016 USD ($)	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Mar. 31, 2017 USD ($)	Mar. 22, 2018 USD ($)	Apr. 28, 2017 USD ($)
Long-term Purchase Commitment [Line Items]
Rent expense under operating leases				$ 700,000	$ 900,000	$ 900,000
Initial lease term								3 years
Operating Leases, Annual Rent Expense							$ 400,000	$ 100,000
Discretionary company contributions to retirement savings plan				9,000	$ 9,000	$ 9,000
State and Local Jurisdiction \| Wisconsin Department of Revenue
Long-term Purchase Commitment [Line Items]
Income tax settlement				500,000
Inventories
Long-term Purchase Commitment [Line Items]
Purchase commitments				$ 13,600,000
Agreement with Tramontina U.S. Cookware, Inc.
Long-term Purchase Commitment [Line Items]
Gross cash proceeds from sale leaseback agreement			$ 2,600,000
Area of leased property \| ft²		197,000
Sale leaseback term		3 years
Rent expense per square foot		$ 2.00
Monthly rental payments	$ 33,000

COMMITMENTS AND CONTINGENCIES (Schedule of Annual Commitments under Non-Cancelable Operating Agreements) (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Fiscal 2020	$ 506
Fiscal 2021	323
Total future payments due	$ 829

SHAREHOLDERS' EQUITY (Narrative) (Details) - USD ($)	3 Months Ended	12 Months Ended	90 Months Ended
SHAREHOLDERS' EQUITY (Narrative) (Details) - USD ($)	Dec. 31, 2017	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2017	Apr. 30, 2012	Nov. 30, 2011	Oct. 31, 2011	Aug. 31, 2010	Feb. 15, 2009
Equity Class Of Treasury Stock [Line Items]
Treasury stock acquired	1,230
Shareholder notes receivable		$ 0		$ 4,000
Common stock purchased per right									1
Right issue share price									$ 7.00
Minimum subscription percentage		20.00%
Number of business days to trigger a distribution date		10 days
Share acquisition percentage		50.00%
Prior to a person becoming an acquiring person, the board of directors of the company's redemption rate									$ 0.001
Employee stock purchase plan, shares authorized								2,500,000
Maximum amount limit for ESPP per employee								$ 20,000
Purchase price to market price matching percentage								100.00%
October 2011
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount					$ 7,500,000	$ 2,500,000	$ 1,000,000
Treasury stock acquired			3,022,349
Repurchase of common stock into treasury			$ 6,800,000

SHAREHOLDERS' EQUITY (Schedule of ESPP Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018
Shares issued from treasury
Shares Issued Under ESPP Plan	1,581	1,708	938	415	1,780	3,446	2,681	2,150	4,642	10,057
Closing Market Price	$ 0.89	$ 0.57	$ 0.96	$ 1.10	$ 0.85	$ 0.88	$ 1.12	$ 1.28
Shares Issued Under Loan Program	0	0	0	0	0	0	0	0	0	0
Dollar Value of Loans Issued	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Settlement of Loans	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 4,000	$ 0	$ 4,000
Minimum
Shares issued from treasury
Closing Market Price									$ 0.57	$ 0.85
Maximum
Shares issued from treasury
Closing Market Price									$ 1.10	$ 1.28

STOCK OPTIONS AND RESTRICTED SHARES (Narrative) (Details)			12 Months Ended
	Aug. 05, 2016 director shares	Jun. 07, 2016 shares	Mar. 31, 2019 USD ($) $ / shares shares	Mar. 31, 2018 USD ($) $ / shares shares	Mar. 31, 2017 USD ($) $ / shares shares	Aug. 03, 2016 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reserved shares for issuance to eligible participants (in shares) \| shares						1,750,000
Number of shares available for grant \| shares			107,860
Common stock closing price (usd per share)			$ 0.89
Compensation expense \| $			$ 825,000	$ 1,102,000	$ 1,605,000
Common Stock, Shares \| Executive
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued and sold (in shares) \| shares		57,065
Common Stock, Shares \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued and sold (in shares) \| shares	63,381
Number of recently retired members of board of directors \| director	3
Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares granted (shares) \| shares			529,000	730,410	1,132,392
Compensation expense \| $			$ 800,000
Weighted average grant-date fair value (usd per share)			$ 0.84
Restricted shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Per share price on grant date (USD per share)			0.84	$ 0.88	$ 1.35
Weighted average grant-date fair value (usd per share)			0.84
Restricted shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Per share price on grant date (USD per share)			1.00	$ 1.95	$ 2.22
Weighted average grant-date fair value (usd per share)			$ 1.00
Non-Employee Director \| 2004 Stock and Incentive Awards Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant of shares to non-employees and consultants (shares) \| shares				24,747	53,501
Non-Employee Director \| Minimum \| 2004 Stock and Incentive Awards Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock closing price (usd per share)				$ 0.80	$ 1.38
Non-Employee Director \| Maximum \| 2004 Stock and Incentive Awards Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock closing price (usd per share)				$ 1.28	$ 1.85
Common stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense \| $			$ 5,365

STOCK OPTIONS AND RESTRICTED SHARES (Stock-based Compensation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Stock-based compensation
Compensation expense	$ 825	$ 1,102	$ 1,605
Cost of product revenue
Stock-based compensation
Compensation expense	2	12	30
Cost of service revenue
Stock-based compensation
Compensation expense	3
General and administrative
Stock-based compensation
Compensation expense	764	929	1,337
Sales and marketing
Stock-based compensation
Compensation expense	54	155	139
Research and development
Stock-based compensation
Compensation expense	$ 2	$ 6	$ 99

STOCK OPTIONS AND RESTRICTED SHARES (Summary of Outstanding Stock Options) (Details) - $ / shares	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Number of Shares
Beginning Balance (shares)	629,667	1,520,953	2,017,046
Granted (shares)	0	0	0
Exercised (shares)	0	0	(80,000)
Forfeited (shares)	(161,831)	(891,286)	(416,093)
Ending Balance (shares)	467,836	629,667	1,520,953
Number of Shares, Exercisable (shares)	463,836
Weighted Average Exercise Price
Beginning Balance (in dollars per share)	$ 3.14	$ 3.36	$ 3.32
Granted Stock Options (in dollars per share)	0	0	0
Exercised (in dollars per share)	0	0	2.20
Forfeited (in dollars per share)	3.61	3.51	3.41
Ending Balance (in dollars per share)	$ 2.98	$ 3.14	$ 3.36

STOCK OPTIONS AND RESTRICTED SHARES (Summary of Exercise Price Range) (Details) - $ / shares	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Outstanding (shares)	467,836	629,667	1,520,953	2,017,046
Weighted Average Remaining Contractual Life (Years)	2 years 7 months 6 days
Weighted Average Exercise Price (usd per share)	$ 2.98	$ 3.14	$ 3.36	$ 3.32
Vested (shares)	463,836
Weighted Average Exercise Price (usd per share)	$ 2.97
$1.62 - 2.20
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, Lower Range Limit (usd per share)	1.62
Exercise Price Range, Upper Range Limit (usd per share)	$ 2.20
Outstanding (shares)	143,292
Weighted Average Remaining Contractual Life (Years)	3 years 6 months 3 days
Weighted Average Exercise Price (usd per share)	$ 1.90
Vested (shares)	143,292
Weighted Average Exercise Price (usd per share)	$ 1.90
$2.41 - 2.75
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, Lower Range Limit (usd per share)	2.41
Exercise Price Range, Upper Range Limit (usd per share)	$ 2.75
Outstanding (shares)	100,936
Weighted Average Remaining Contractual Life (Years)	3 years 10 months 28 days
Weighted Average Exercise Price (usd per share)	$ 2.48
Vested (shares)	100,936
Weighted Average Exercise Price (usd per share)	$ 2.48
$2.86 - 4.28
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, Lower Range Limit (usd per share)	2.86
Exercise Price Range, Upper Range Limit (usd per share)	$ 4.28
Outstanding (shares)	194,308
Weighted Average Remaining Contractual Life (Years)	1 year 6 months 3 days
Weighted Average Exercise Price (usd per share)	$ 3.68
Vested (shares)	190,308
Weighted Average Exercise Price (usd per share)	$ 3.68
$4.49 - 4.76
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, Lower Range Limit (usd per share)	4.49
Exercise Price Range, Upper Range Limit (usd per share)	$ 4.76
Outstanding (shares)	5,000
Weighted Average Remaining Contractual Life (Years)	10 months 2 days
Weighted Average Exercise Price (usd per share)	$ 4.70
Vested (shares)	5,000
Weighted Average Exercise Price (usd per share)	$ 4.70
$5.35 - 5.44
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, Lower Range Limit (usd per share)	5.35
Exercise Price Range, Upper Range Limit (usd per share)	$ 5.44
Outstanding (shares)	24,300
Weighted Average Remaining Contractual Life (Years)	10 months 6 days
Weighted Average Exercise Price (usd per share)	$ 5.44
Vested (shares)	24,300
Weighted Average Exercise Price (usd per share)	$ 5.44

STOCK OPTIONS AND RESTRICTED SHARES (Schedule of Restricted Shares) (Details) - Restricted shares	12 Months Ended
	Mar. 31, 2019 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares outstanding, beginning of the period (shares)	1,485,799
Shares issued (shares)	529,000
Shares vested (shares)	(653,394)
Shares forfeited (shares)	(48,812)
Shares outstanding, end of the period (shares)	1,312,593
Per share price on grant date (usd per share) \| $ / shares	$ 0.84
Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Per share price on grant date (usd per share) \| $ / shares	0.84
Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Per share price on grant date (usd per share) \| $ / shares	$ 1.00

STOCK OPTIONS AND RESTRICTED SHARES (Summary of Unrecognized Compensation Cost) (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2019 USD ($)
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Fiscal 2020	$ 535
Fiscal 2021	239
Fiscal 2022	40
Fiscal 2023	2
Fiscal 2024	0
Thereafter	0
Total compensation cost	$ 816
Remaining weighted average expected term	1 year 8 months 12 days

SEGMENT DATA (Reconciliation of Segment Operations) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Corporate and Other
Depreciation and Amortization									$ 1,783	$ 2,011	$ 2,332
Capital Expenditures									455	512	660
Revenues	$ 22,443	$ 16,291	$ 13,198	$ 13,822	$ 15,057	$ 17,263	$ 15,422	$ 12,558	65,754	60,300	70,211
Operating Loss									(6,157)	(12,981)	(12,527)
Operating Segments \| U.S. Markets
Corporate and Other
Depreciation and Amortization									233	267	359
Capital Expenditures									31	73	150
Revenues									10,656	8,567	17,852
Operating Loss									1,132	(3,123)	(1,357)
Operating Segments \| Engineered Systems
Corporate and Other
Depreciation and Amortization									774	988	1,249
Capital Expenditures									165	151	224
Revenues									30,925	23,827	29,501
Operating Loss									(1,237)	(3,792)	(3,647)
Operating Segments \| Distribution Services
Corporate and Other
Depreciation and Amortization									485	275	148
Capital Expenditures									44	217	184
Revenues									24,173	27,906	22,858
Operating Loss									(1,742)	(325)	(927)
Corporate and Other
Corporate and Other
Depreciation and Amortization									291	481	576
Capital Expenditures									215	71	102
Operating Loss									$ (4,310)	$ (5,741)	$ (6,596)

SEGMENT DATA (Reconciliation of Segment Assets and Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Corporate and Other
Total Assets	$ 56,021	$ 45,325
Operating Segments \| U.S. Markets
Corporate and Other
Total Assets	4,578	3,354
Operating Segments \| Engineered Systems
Corporate and Other
Total Assets	28,486	13,570
Operating Segments \| Distribution Services
Corporate and Other
Total Assets	5,704	9,315
Corporate and Other
Corporate and Other
Total Assets	$ 17,253	$ 19,086

RESTRUCTURING EXPENSE (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Restructuring Cost And Reserve [Line Items]
Total restructuring charges	$ 43	$ 2,146
Payments for Restructuring	26	$ 1,800
Post-retirement medical benefits
Restructuring Cost And Reserve [Line Items]
Restructuring accrual	100
Engineered Systems
Restructuring Cost And Reserve [Line Items]
Total restructuring charges	$ 0

RESTRUCTURING EXPENSE (Restructuring by Statement of Operations Location) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Restructuring Cost And Reserve [Line Items]
Total restructuring charges	$ 43	$ 2,146
Cost of product revenue
Restructuring Cost And Reserve [Line Items]
Total restructuring charges		34
General and administrative
Restructuring Cost And Reserve [Line Items]
Total restructuring charges	26	1,822
Sales and marketing
Restructuring Cost And Reserve [Line Items]
Total restructuring charges	$ 17	211
Research and development
Restructuring Cost And Reserve [Line Items]
Total restructuring charges		$ 79

RESTRUCTURING EXPENSE (Restructuring by Segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Restructuring Cost And Reserve [Line Items]
Total restructuring charges	$ 43	$ 2,146
Operating Segments \| Orion Distribution Systems
Restructuring Cost And Reserve [Line Items]
Total restructuring charges	12	117
Corporate and Other
Restructuring Cost And Reserve [Line Items]
Total restructuring charges	$ 31	$ 2,029

QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Selected Quarterly Financial Information [Abstract]
Total revenue	$ 22,443	$ 16,291	$ 13,198	$ 13,822	$ 15,057	$ 17,263	$ 15,422	$ 12,558	$ 65,754	$ 60,300	$ 70,211
Gross profit	4,384	4,170	2,542	3,456	3,225	5,116	3,620	2,711	14,552	14,672	17,337
Net loss	$ (882)	$ (662)	$ (2,438)	$ (2,692)	$ (1,462)	$ (1,433)	$ (3,669)	$ (6,564)	$ (6,674)	$ (13,128)	$ (12,288)
Basic (USD per share)	$ (0.03)	$ (0.02)	$ (0.08)	$ (0.09)	$ (0.05)	$ (0.05)	$ (0.13)	$ (0.23)	$ (0.23)	$ (0.46)	$ (0.44)
Shares used in basic per share calculation	29,590,000	29,569,000	29,488,000	29,070,000	28,935,000	28,910,000	28,835,000	28,455,000	29,429,540	28,783,830	28,156,382
Diluted (USD per share)	$ (0.03)	$ (0.02)	$ (0.08)	$ (0.09)	$ (0.05)	$ (0.05)	$ (0.13)	$ (0.23)	$ (0.23)	$ (0.46)	$ (0.44)
Shares used in diluted per share calculation	29,590,000	29,569,000	29,488,000	29,070,000	28,935,000	28,910,000	28,835,000	28,455,000	29,429,540	28,783,830	28,156,382

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

QUARTERLY FINANCIAL DATA (UNAUDITED) (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Selected Quarterly Financial Information [Abstract]
Restructuring charge	$ 43	$ 2,146
Loss contingency		1,400
Impairment of intangible assets		$ 710	$ 250

INVENTORIES (Narrative) (Details)	12 Months Ended
INVENTORIES (Narrative) (Details)	Mar. 31, 2019
Minimum
Inventory [Line Items]
Inventory consideration usage	9 months
Maximum
Inventory [Line Items]
Inventory consideration usage	12 months

DESCRIPTION OF BUSINESS - (Narrative) (Details)	12 Months Ended
DESCRIPTION OF BUSINESS - (Narrative) (Details)	Mar. 31, 2018 ft²
Houston, Texas
Area of lease	5,600
Termination of lease	Apr. 30, 2018
Chicago, Illinois
Area of lease	3,100
Termination of lease	May 31, 2018

ACCOUNTS RECEIVABLE (Narrative) (Details)	12 Months Ended
ACCOUNTS RECEIVABLE (Narrative) (Details)	Mar. 31, 2019
Receivables [Abstract]
Accounts receivable, minimum period due	30 days
Accounts receivable, maximum period due	60 days

ACCRUED EXPENSES AND OTHER (Narrative) (Details)	12 Months Ended
ACCRUED EXPENSES AND OTHER (Narrative) (Details)	Mar. 31, 2019
Minimum
Segment Reporting Information [Line Items]
Limited warranty term	1 year
Maximum
Segment Reporting Information [Line Items]
Limited warranty term	10 years

SUBSEQUENT EVENTS (Narrative) (Details) $ in Millions	Jun. 03, 2019 USD ($)
Subsequent Event \| First Amendment
Subsequent Event [Line Items]
Credit facility, maximum limit	$ 3.0