Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
 3 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash Flows from Operating Activities:    
Net (loss) income $ (2,896) $ 392
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 832 965
Amortization of deferred financing costs 48 48
Interest expense on second funding liability   55
Provision for allowance for doubtful accounts 23  
Inventory write-down (recovery) 284 (55)
Provision for warranty expenses 1,402 329
Stock-based compensation 420 662
Change in fair value of warrant liability (5,626) (9,244)
Changes in operating assets and liabilities:    
Accounts receivable (637) (6,026)
Inventories (3,434) (18)
Prepaid expenses and other current assets 277 (102)
Accounts payable and accrued expenses (3,367) (626)
Accrued salaries and wages and long term liabilities 380 243
Accrued warranty reserve (799) (273)
Deferred revenue 745 202
Other current liabilities 0  
Net cash used in operating activities (12,348) (13,448)
Cash Flows from Investing Activities:    
Acquisition of and deposits on equipment and leasehold improvements (312) (350)
Changes in restricted cash 1,250 (5,000)
Net cash provided by (used in) investing activities 938 (5,350)
Cash Flows from Financing Activities:    
Net repayment of revolving credit facility (686) (1,618)
Repayment of notes payable and capital lease obligations (186) (53)
Net (cash used in) proceeds from employee stock-based transactions (35) 13
Proceeds from exercise of common stock warrants 966  
Net cash provided by (used in) financing activities 59 (1,658)
Net decrease in Cash and Cash Equivalents (11,351) (20,456)
Cash and Cash Equivalents, Beginning of Period 33,456 47,270
Cash and Cash Equivalents, End of Period 22,105 26,814
Cash paid during the period for:    
Interest 54 155
Income taxes 0  
Supplemental Disclosures of Non-Cash Information:    
Fixed asset purchases included in accounts payable $ 70 $ 38