Annual report pursuant to Section 13 and 15(d)

Inventories

Inventories

12 Months Ended

Mar. 31, 2012

3. Inventories

Inventories are stated at the lower of standard cost (which approximates actual cost on the first-in, first-out method) or market and consisted of the following as of March 31, 2012 and 2011:

	2012			2011

	(In thousands)
Raw materials	$	18,476		$	18,649
Work in process		151			290
Finished goods		1,567			1,782

Total		20,194			20,721
Less non-current portion		(1,313	)		(1,454	)

Current portion	$	18,881		$	19,267

The non-current portion of inventories represents that portion of the inventories in excess of amounts expected to be 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 March 31, 2012 is 1.7 years. The Company expects to use the non-current portion of the inventories on hand as of March 31, 2012 over the periods presented in the following table:

Expected Period of Use	Non-current Inventory Balance Expected to be Used

	(In thousands)
13 to 24 months	$	680
25 to 36 months		413
37 to 48 months		220

Total	$	1,313

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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