Quarterly report pursuant to Section 13 or 15(d)

Inventories

Inventories

6 Months Ended

Sep. 30, 2013

5. Inventories

Inventories are valued at a first in first out (“FIFO”) basis and lower of cost or market and consisted of the following as of September 30, 2013 and March 31, 2013 (in thousands):

	September 30, 2013			March 31, 2013
Raw materials	$	22,241		$	20,198
Finished goods	1,569			1,567
Total	23,810			21,765
Less non-current portion	(2,980		)	(3,252		)
Current portion	$	20,830		$	18,513

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 product configurations. The weighted average age of the non-current portion of inventories on hand as of September 30, 2013 is 1.7 years. The Company expects to use the non-current portion of the inventories on hand as of September 30, 2013, over the periods presented in the following table (in thousands):

Expected Period of Use	Non-current Inventory Balance

13 to 24 months	$	2,217
25 to 36 months	507
37 to 48 months	256
Total	$	2,980

- 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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