Quarterly report pursuant to Section 13 or 15(d)

REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS

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REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS
9 Months Ended
Dec. 31, 2014
Accounting Changes and Error Corrections [Abstract]  
REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS
REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS
During the fourth quarter of fiscal 2014, we identified an error related to certain allowances recorded for estimated future price adjustments with a cumulative $0.7 million overstatement of revenue and accounts receivable at April 1, 2013. Revenue for both the third quarter and first nine months of fiscal 2014 was overstated by $0.1 million as a result of this error. We also identified an error related to straight-line rent expense that had accumulated since fiscal 2006, resulting in a $2.1 million cumulative overstatement of rent expense and total other accrued liabilities and other long-term liabilities at April 1, 2013. General and administrative expense was overstated by less than $0.1 million for both the third quarter and first nine months of fiscal 2014.
In the fourth quarter of fiscal 2014, we evaluated these errors in accordance with the Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin No. 99 and determined that the cumulative impact of the errors was not material to our results of operations, financial position or cash flows in our previously issued financial statements and therefore, amendments of previously filed reports are not required. However, if the entire correction of the errors had been recorded during the fourth quarter of fiscal 2014, the impact would have been significant to the Consolidated Statement of Operations for the quarter ended March 31, 2014. As a result, we revised our prior period financial statements in accordance with the SEC's Staff Accounting Bulletin No. 108.
We believe the revisions are not material to the Condensed Consolidated Statements of Operations, Condensed Consolidated Statements of Comprehensive Loss or Condensed Consolidated Statements of Cash Flows for the third quarter or first nine months ended December 31, 2013.