| BALANCE SHEET INFORMATION |
NOTE 4: |
BALANCE SHEET INFORMATION |
Certain significant amounts included in the Company’s consolidated balance sheets consist of the following (in thousands):
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March 31, |
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2019 |
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2018 |
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Manufacturing inventories: |
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Finished goods |
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Manufactured finished goods |
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$ |
8,160 |
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$ |
11,215 |
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Distributor inventory |
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|
3,345 |
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|
10,870 |
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| |
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Total finished goods |
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|
11,505 |
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|
22,085 |
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Work in progress |
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|
107 |
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|
778 |
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Raw materials |
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|
6,828 |
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|
11,565 |
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Total manufacturing inventories |
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$ |
18,440 |
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|
$ |
34,428 |
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Service inventories: |
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Finished goods |
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$ |
13,437 |
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$ |
14,863 |
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Component parts |
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|
5,633 |
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|
7,026 |
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Total service inventories |
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$ |
19,070 |
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$ |
21,889 |
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Other current assets: |
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Insurance receivable |
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$ |
8,950 |
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$ |
— |
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Prepayments |
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|
3,856 |
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|
4,331 |
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Income tax receivable |
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|
1,927 |
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|
582 |
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Other |
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|
3,362 |
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|
8,652 |
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Total other current assets |
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$ |
18,095 |
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$ |
13,565 |
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Property and equipment, net |
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Machinery and equipment |
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$ |
30,306 |
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$ |
34,090 |
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Furniture and fixtures |
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|
2,073 |
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|
1,942 |
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Leasehold improvements |
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|
6,990 |
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|
6,763 |
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| |
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| |
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|
39,369 |
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|
42,795 |
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Less: accumulated depreciation and amortization |
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(30,932 |
) |
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(33,097 |
) |
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Total property, plant and equipment, net |
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$ |
8,437 |
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$ |
9,698 |
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Other accrued liabilities: |
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Accrued expenses |
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$ |
8,925 |
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$ |
7,619 |
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Asset retirement obligation |
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|
1,936 |
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|
2,176 |
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Accrued settlement |
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10,452 |
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|
101 |
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Accrued warranty |
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|
3,456 |
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|
2,422 |
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Other accrued liabilities |
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|
4,256 |
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|
5,320 |
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| |
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Total other current liabilities |
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$ |
29,025 |
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|
$ |
17,638 |
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Depreciation and amortization expense on property, plant and equipment was approximately $4.2 million, $4.8 million and $5.4 million for the fiscal years ended March 31, 2019, 2018 and 2017, respectively.
The following table details the change in the accrued warranty balance (in thousands):
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For the year ended March 31, |
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2019 |
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2018 |
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|
2017
(as restated)
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Opening balance |
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$ |
2,422 |
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$ |
3,689 |
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|
$ |
3,448 |
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Additional warranties issued |
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|
5,766 |
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|
5,139 |
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|
7,491 |
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Adjustments for warranties issued in prior fiscal years |
|
|
326 |
|
|
|
(116 |
) |
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|
309 |
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Settlements |
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(5,058 |
) |
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(6,291 |
) |
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(7,559 |
) |
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Ending balance |
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$ |
3,456 |
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$ |
2,422 |
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$ |
3,689 |
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