Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.0.6
Income Taxes (Tables)
12 Months Ended
Mar. 31, 2013
Income Taxes  
Schedule of reconciliation of income tax (benefit) expense to the federal statutory rate

A reconciliation of income tax (benefit) expense to the federal statutory rate follows (in thousands):

 
  Year Ended March 31,  
 
  2013   2012   2011  

Federal income tax at the statutory rate

  $ (7,436 ) $ (6,317 ) $ (12,997 )

State taxes, net of federal effect

    (661 )   (727 )   (1,390 )

Foreign taxes

    675     313     461  

R&D tax credit

    (1,157 )   (455 )   (367 )

Impact of state rate change

    838     (693 )   1,541  

Warrant liability

    (299 )   (5,301 )   9,981  

Expiring NOL

        9,765     6,278  

Valuation allowance

    (1,877 )   3,423     (4,343 )

Excess tax benefit—stock compensation

    10,383          

Other

    228     178     1,076  
               

Income tax expense (benefit)

  $ 694   $ 186   $ 240  
               
Schedule of the Company's deferred tax assets and liabilities

The Company's deferred tax assets and liabilities consisted of the following at March 31, 2013 and 2012 (in thousands):

 
  2013   2012  

Deferred tax assets:

             

Inventories

  $ 1,754   $ 1,492  

Warranty reserve

    866     597  

Deferred revenue

    532     466  

Net operating loss ("NOL") carryforwards

    211,724     215,545  

Tax credit carryforwards

    18,295     17,013  

Depreciation, amortization and impairment loss

    3,997     4,252  

Other

    5,498     5,434  
           

Deferred tax assets

    242,666     244,799  

Valuation allowance for deferred tax assets

    (232,555 )   (234,432 )
           

Deferred tax assets, net of valuation allowance

    10,111     10,367  

Deferred tax liabilities:

             

Federal benefit of state taxes

    (10,111 )   (10,367 )
           

Net deferred tax assets

  $   $  
           
Schedule of the Company's NOL and tax credit carry forwards for federal and state income tax purposes

The Company's NOL and tax credit carryforwards for federal and state income tax purposes at March 31, 2013 were as follows (in thousands):

 
  Amount   Expiration
Period

Federal NOL

  $ 592,005   2018 - 2033

State NOL

  $ 283,866   2013 - 2033

Federal tax credit carryforwards

  $ 9,577   2018 - 2033

State tax credit carryforwards

  $ 8,718   Indefinite
Schedule of reconciliation of the beginning and ending amount of total gross unrecognized tax benefits

A reconciliation of the beginning and ending amount of total gross unrecognized tax benefits is as follows (in thousands):

Balance at March 31, 2010

  $ 1,806  

Gross increase related to prior year tax positions

     

Gross increase related to current year tax positions

    167  

Lapse of statute of limitations

     
       

Balance at March 31, 2011

  $ 1,973  

Gross increase related to prior year tax positions

     

Gross increase related to current year tax positions

    175  

Lapse of statute of limitations

     
       

Balance at March 31, 2012

  $ 2,148  

Gross decrease related to prior year tax positions

    (100 )

Gross increase related to prior year tax positions

    222  

Gross increase related to current year tax positions

    148  

Lapse of statute of limitations

     
       

Balance at March 31, 2013

  $ 2,418