Quarterly report pursuant to Section 13 or 15(d)

Inventories

Inventories

9 Months Ended

Dec. 31, 2011

5. Inventories

Inventories are stated at the lower of standard cost (which approximates actual cost on the first-in, first-out method) or market and consisted of the following:

	December 31, 2011			March 31, 2011
	(In thousands)
Raw materials	$	24,482		$	18,649
Work in process	20			290
Finished goods	2,198			1,782
Total	26,700			20,721
Less non-current portion	(1,473		)	(1,454		)
Current portion	$	25,227		$	19,267

The non-current portion of inventories represents that portion of the inventories in excess of amounts expected to be sold or used in the next twelve months. The non-current inventories are primarily comprised of repair parts for older generation products that are still in operation, but are not technologically compatible with current configurations. The weighted average age of the non-current portion of inventories on hand as of December 31, 2011 is 1.5 years. The Company expects to use the non-current portion of the inventories on hand as of December 31, 2011, over the periods presented in the following table:

Expected Period of Use	Non-current Inventory Balance
	(In thousands)
13 to 24 months	$	767
25 to 36 months	452
37 to 48 months	254
Total	$	1,473

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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