Quarterly report pursuant to Section 13 or 15(d)

Inventories

v2.4.0.8
Inventories
9 Months Ended
Dec. 31, 2013
Inventories  
Inventories

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 December 31, 2013 and March 31, 2013 (in thousands):

 

 

 

December 31,
2013

 

March 31,
2013

 

 

 

 

 

 

 

Raw materials

 

$

23,656

 

$

20,198

 

Finished goods

 

1,425

 

1,567

 

Total

 

25,081

 

21,765

 

Less non-current portion

 

(2,995

)

(3,252

)

Current portion

 

$

22,086

 

$

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 December 31, 2013 is 1.8 years. The Company expects to use the non-current portion of the inventories on hand as of December 31, 2013, over the periods presented in the following table (in thousands):

 

Expected Period of Use

 

Non-current
Inventory Balance

 

 

 

 

 

13 to 24 months

 

$

2,279

 

25 to 36 months

 

461

 

37 to 48 months

 

255

 

Total

 

$

2,995