Quarterly report pursuant to Section 13 or 15(d)

Customer Concentrations and Accounts Receivable

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Customer Concentrations and Accounts Receivable
6 Months Ended
Sep. 30, 2014
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.