Quarterly report pursuant to Section 13 or 15(d)

Deferred Revenue

Deferred Revenue

6 Months Ended

Sep. 30, 2016

13. Deferred Revenue

Changes in deferred revenue during the six months ended September 30, 2016 are as follows (in thousands):


FPP Balance, beginning of the period	$	2,929
FPP Billings		6,577
FPP Revenue recognized		(6,219)
Balance attributed to FPP contracts		3,287
Deposits		1,233
Deferred revenue balance, end of the period	$	4,520

Deferred revenue attributed to Comprehensive Factory Protection Plan (“FPP”) contracts represents the unearned portion of the billed agreements. FPP agreements are generally paid quarterly in advance with revenue recognized on a straight line basis over the contract period. Deposits are primarily non-refundable cash payments from distributors for orders to be delivered in the future.

- Definition

The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.

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