Quarterly report pursuant to Section 13 or 15(d)

Inventories

Inventories

9 Months Ended

Dec. 31, 2014

5. Inventories

Inventories are valued on a FIFO basis and lower of cost or market and consisted of the following as of December 31, 2014 and March 31, 2014 (in thousands):

	December 31, 2014			March 31, 2014

Raw materials	$	22,423		$	19,080
Work in process	—			5
Finished goods	5,019			1,955
Total	27,442			21,040
Less non-current portion	(2,546		)	(2,938		)
Current portion	$	24,896		$	18,102

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 configurations. The weighted average age of the non-current portion of inventories on hand as of December 31, 2014 is 1.9 years. The Company expects to use the non-current portion of the inventories on hand as of December 31, 2014 over the periods presented in the following table (in thousands):

Expected Period of Use	Non-Current Inventory Balance Expected to be Used

13 to 24 months	$	1,765
25 to 36 months	615
37 to 48 months	166
Total	$	2,546