13.  Deferred Revenue

As of March 31, 2017 the balance of deferred revenue was approximately $5.0 million. The change in deferred revenue attributed to Comprehensive Factory Protection Plan (“FPP”) contracts during the first quarter of Fiscal 2018 was an decrease of $61,500 and the change in deferred revenue attributed to deposits during the first quarter of Fiscal 2018 was increase of $0.9 million. Changes in deferred revenue during the first quarter of Fiscal 2018 are as follows (in thousands):

 

Deferred revenue attributed to 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.