Quarterly report pursuant to Section 13 or 15(d)

Inventories

v2.4.1.9
Inventories
9 Months Ended
Dec. 31, 2014
Inventories  
Inventories

 

 

5.  Inventories

 

Inventories are valued on a FIFO basis and lower of cost or market and consisted of the following as of December 31, 2014 and March 31, 2014 (in thousands):

 

 

 

December 31,
2014

 

March 31,
2014

 

 

 

 

 

 

 

Raw materials

 

$

22,423

 

$

19,080

 

Work in process

 

 

5

 

Finished goods

 

5,019

 

1,955

 

Total

 

27,442

 

21,040

 

Less non-current portion

 

(2,546

)

(2,938

)

Current portion

 

$

24,896

 

$

18,102

 

 

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 configurations. The weighted average age of the non-current portion of inventories on hand as of December 31, 2014 is 1.9 years. The Company expects to use the non-current portion of the inventories on hand as of December 31, 2014 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

 

$

1,765 

 

25 to 36 months

 

615 

 

37 to 48 months

 

166 

 

Total

 

$

2,546