Annual report pursuant to Section 13 and 15(d)

Inventories

v2.4.1.9
Inventories
12 Months Ended
Mar. 31, 2015
Inventories  
Inventories

3. Inventories

        Inventories are valued on a FIFO basis and lower of cost or market and consisted of the following as of March 31, 2015 and 2014 (in thousands):

                                                                                                                                                                                    

 

 

2015

 

2014

 

Raw materials

 

$

19,955

 

$

19,080

 

Work in process

 

 

 

 

5

 

Finished goods

 

 

5,400

 

 

1,955

 

​  

​  

​  

​  

Total

 

 

25,355

 

 

21,040

 

Less non-current portion

 

 

(2,258

)

 

(2,938

)

​  

​  

​  

​  

Current portion

 

$

23,097

 

$

18,102

 

​  

​  

​  

​  

​  

​  

​  

​  

        The non-current portion of inventories represents that portion of the inventories in excess of amounts expected to be 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 March 31, 2015 is 2.0 years. The Company expects to use the non-current portion of the inventories on hand as of March 31, 2015 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

 

$

1,544 

 

25 to 36 months

 

 

557 

 

37 to 48 months

 

 

157 

 

​  

​  

Total

 

$

2,258 

 

​  

​  

​  

​