Quarterly report pursuant to Section 13 or 15(d)

Inventories

Inventories

9 Months Ended

Dec. 31, 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 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