Quarterly report pursuant to Section 13 or 15(d)

Deferred Revenue

v3.6.0.2
Deferred Revenue
9 Months Ended
Dec. 31, 2016
Deferred Revenue  
Deferred Revenue

13.  Deferred Revenue

As of March 31, 2016 the balance of deferred revenue was $4.4 million and the change in balance attributed to FPP contracts increased $0.6 million and the change in deposits decreased $0.4 million. Changes in deferred revenue during the nine months ended December 31, 2016 are as follows (in thousands):

 

 

 

 

 

FPP Balance, beginning of the period

 

$

2,929

 

FPP Billings

 

 

10,268

 

FPP Revenue recognized

 

 

(9,697)

 

Balance attributed to FPP contracts

 

 

3,500

 

Deposits

 

 

1,080

 

Deferred revenue balance, end of the period

 

$

4,580

 

 

Deferred revenue attributed to Comprehensive Factory Protection Plan (“FPP”) contracts represents the unearned portion of the billed agreements. FPP agreements are generally paid quarterly in advance with revenue recognized on a straight line basis over the contract period. Deposits are primarily non-refundable cash payments from distributors for orders to be delivered in the future.