Quarterly report pursuant to Section 13 or 15(d)

Inventories

v2.4.0.6
Inventories
9 Months Ended
Dec. 31, 2012
Inventories  
Inventories

5.  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:

 

 

 

December 31,
2012

 

March 31,
2012

 

 

 

(In thousands)

 

Raw materials

 

$

21,745

 

$

18,476

 

Work in process

 

1

 

151

 

Finished goods

 

1,606

 

1,567

 

Total

 

23,352

 

20,194

 

Less non-current portion

 

(3,389

)

(1,313

)

Current portion

 

$

19,963

 

$

18,881

 

 

The non-current portion of inventories represents that 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 product configurations. The weighted average age of the non-current portion of inventories on hand as of December 31, 2012 is 1.3 years. The Company expects to use the non-current portion of the inventories on hand as of December 31, 2012, over the periods presented in the following table:

 

Expected Period of Use

 

Non-current
Inventory Balance

 

 

 

(In thousands)

 

13 to 24 months

 

$

2,480

 

25 to 36 months

 

685

 

37 to 48 months

 

224

 

Total

 

$

3,389