Quarterly report pursuant to Section 13 or 15(d)

Inventories

v3.7.0.1
Inventories
3 Months Ended
Jun. 30, 2017
Inventories  
Inventories

5.  Inventories

 

Inventories are valued on a first in first out (“FIFO”) basis and lower of cost or net realizable value and consisted of the following as of June 30, 2017 and March 31, 2017 (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

March 31,

 

 

    

2017

    

2017

 

Raw materials

 

$

14,921

 

$

15,035

 

Work in process

 

 

85

 

 

 —

 

Finished goods

 

 

1,319

 

 

464

 

Total

 

 

16,325

 

 

15,499

 

Less non-current portion

 

 

(887)

 

 

(961)

 

Current portion

 

$

15,438

 

$

14,538

 

 

The non-current portion of inventories represents the 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 June 30, 2017 is 1.7 years. The Company expects to use the non-current portion of the inventories on hand as of June 30, 2017 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

 

$

455

 

25 to 36 months

 

 

432

 

Total

 

$

887