Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2017
Mar. 31, 2016
Current Assets:    
Cash and cash equivalents $ 14,191 $ 11,704
Restricted cash 5,514 5,002
Accounts receivable, net of allowances of $6,845 at March 31, 2017 and $8,909 at March 31, 2016 17,003 13,575
Inventories 14,538 16,126
Prepaid expenses and other current assets 3,073 2,636
Total current assets 54,319 49,043
Property, plant and equipment, net 2,115 3,537
Non-current portion of inventories 961 2,143
Intangible assets, net 651 941
Other assets 225 228
Total 58,271 55,892
Current Liabilities:    
Accounts payable and accrued expenses 14,719 13,187
Accrued salaries and wages 1,819 1,880
Accrued warranty reserve 3,766 1,639
Deferred revenue 5,050 4,368
Revolving credit facility 11,533 9,459
Current portion of notes payable and capital lease obligations 302 361
Warrant liability 2,917  
Total current liabilities 40,106 30,894
Long-term portion of notes payable and capital lease obligations 26 74
Other long-term liabilities 158 184
Total liabilities 40,290 31,152
Commitments and contingencies (Note 12)
Stockholders' Equity:    
Preferred stock, $.001 par value; 10,000,000 shares authorized; none issued
Common stock, $.001 par value; 515,000,000 shares authorized, 38,920,174 shares issued and 38,803,630 shares outstanding at March 31, 2017; 23,857,516 shares issued and 23,753,873 shares outstanding at March 31, 2016 39 24
Additional paid-in capital 870,457 853,288
Accumulated deficit (850,876) (826,955)
Treasury stock, at cost; 116,544 shares at March 31, 2017 and 103,643 shares at March 31, 2016 (1,639) (1,617)
Total stockholders' equity 17,981 24,740
Total liabilities and stockholders' equity $ 58,271 $ 55,892