13.  Deferred Revenue

As of December 31, 2017 the balance of deferred revenue was approximately $5.2 million compared to $5.0 million as of March 31, 2017. This overall increase in the balance of deferred revenue of $0.2 million during the nine months ended December 31 2017 was comprised of an increase in deferred revenue attributable to deposits of $0.3 million, offset by a decrease in deferred revenue attributable to Comprehensive Factory Protection Plan (“FPP”) contracts of $0.1 million. Changes in deferred revenue during the nine months ended December 31, 2017 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.