Annual report pursuant to Section 13 and 15(d)

Inventories

v3.4.0.3
Inventories
12 Months Ended
Mar. 31, 2016
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, 2016 and 2015 (in thousands):

 

 

 

 

 

 

 

 

 

    

2016

    

2015

 

Raw materials

 

$

16,539

 

$

19,955

 

Work in process

 

 

554

 

 

 —

 

Finished goods

 

 

1,176

 

 

5,400

 

Total

 

 

18,269

 

 

25,355

 

Less non-current portion

 

 

(2,143)

 

 

(2,258)

 

Current portion

 

$

16,126

 

$

23,097

 

 

 

 

 

 

 

 

 

 

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, 2016 is 1.7 years. The Company expects to use the non‑current portion of the inventories on hand as of March 31, 2016 over the periods presented in the following table (in thousands):

 

 

 

 

 

 

 

 

Non-current Inventory

 

 

 

 

Balance Expected

 

Expected Period of Use

    

 

to be Used

 

13 to 24 months

 

$

1,672

 

25 to 36 months

 

 

417

 

37 to 48 months

 

 

54

 

Total

 

$

2,143