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Customer Concentrations and Accounts Receivable
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6 Months Ended |
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Sep. 30, 2014
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| Customer Concentrations and Accounts Receivable | |
| Customer Concentrations and Accounts Receivable |
4. Customer Concentrations and Accounts Receivable
Sales to BPC Engineering (“BPC”), one of the Company’s Russian distributors, Horizon Power Systems (“Horizon”), one of the Company’s domestic distributors, and E-Finity Distributed Generation, LLC (“E-Finity”), one of the Company’s domestic distributors, accounted for 20%, 18% and 12%, respectively, of revenue for the three months ended September 30, 2014. Sales to BPC and E-Finity accounted for 29% and 24%, respectively, of revenue for the three months ended September 30, 2013. For the six months ended September 30, 2014, Horizon, BPC and E-Finity accounted for 21%, 17% and 12% of revenue, respectively. For the six months ended September 30, 2013, E-Finity, BPC and Horizon accounted for 22%, 18% and 12% of revenue, respectively.
Additionally, BPC accounted for 36% of net accounts receivable as of September 30, 2014. BPC, Electro Mecanique Industries, one of the Company’s distributors in the Middle East and Africa, and E-Finity accounted for 26%, 18% and 16%, respectively, of net accounts receivable as of March 31, 2014.
The Company recorded bad debt expense of $3.0 million and $0.1 million for the three months ended September 30, 2014 and 2013, respectively. The Company recorded bad debt expense of $3.1 million and $0.1 million for the six months ended September 30, 2014 and 2013, respectively. |