Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment and Rental Assets

v3.19.2
Property, Plant and Equipment and Rental Assets
 3 Months Ended
Jun. 30, 2019
Property, Plant and Equipment and Rental Assets  
Property, Plant, Equipment and Rental Assets

6.  Property, Plant, Equipment and Rental Assets

 

Property, plant, equipment and rental assets consisted of the following as of June 30, 2019 and March 31, 2019 (in thousands):

 

 

 

 

 

 

 

 

 

 

June 30,

 

March 31,

 

 

    

2019

    

2019

 

Machinery, equipment, automobiles and furniture

 

$

15,577

 

$

15,344

 

Leasehold improvements

 

 

11,079

 

 

11,074

 

Molds and tooling

 

 

3,003

 

 

2,893

 

Rental assets

 

 

3,539

 

 

2,818

 

 

 

 

33,198

 

 

32,129

 

Less, accumulated depreciation

 

 

(27,150)

 

 

(26,838)

 

Total property, plant, equipment and rental assets, net

 

$

6,048

 

$

5,291

 

During the first quarter of Fiscal 2020, the Company deployed approximately $0.7 million of its C1000 Signature Series systems under its factory rental program.

The Company regularly reassesses the useful lives of property and equipment and retires assets no longer in service. Depreciation expense for property, equipment and rental assets was $0.3 million and $0.2 million for the first quarter of Fiscal 2020 and 2019, respectively.