Quarterly report pursuant to Section 13 or 15(d)

Inventories

Inventories

3 Months Ended

Jun. 30, 2018

5. Inventories

Inventories are valued at the lower of cost (determined on a first in first out (“FIFO”) basis) or net realizable value and consisted of the following as of June 30, 2018 and March 31, 2018 (in thousands):


	June 30,		March 31,
	2018		2018
Raw materials	$	19,567	$	17,981
Work in process		46		111
Finished goods		3,080		4,076
Total		22,693		22,168
Less inventory reserve		(5,535)		(5,494)
Less non-current portion		(1,103)		(1,041)
Current portion	$	16,055	$	15,633

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, 2018 is 1.4 years. The Company expects to use the non-current portion of the inventories on hand as of June 30, 2018 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	$	449
25 to 36 months		654
Total	$	1,103