Annual report pursuant to Section 13 and 15(d)

Inventories

v2.4.0.6
Inventories
12 Months Ended
Mar. 31, 2013
Inventories  
Inventories

3. Inventories

        Inventories are valued on a FIFO basis and lower of cost or market and consisted of the following as of March 31, 2013 and 2012 (in thousands):

 
  2013   2012  

Raw materials

  $ 20,198   $ 18,476  

Work in process

        151  

Finished goods

    1,567     1,567  
           

Total

    21,765     20,194  

Less non-current portion

    (3,252 )   (1,313 )
           

Current portion

  $ 18,513   $ 18,881  
           

        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, 2013 is 1.6 years. The Company expects to use the non-current portion of the inventories on hand as of March 31, 2013 over the periods presented in the following table (in thousands):

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

13 to 24 months

  $ 2,401  

25 to 36 months

    567  

37 to 48 months

    284  
       

Total

  $ 3,252