Annual report pursuant to Section 13 and 15(d)

BALANCE SHEET INFORMATION

v3.19.2
BALANCE SHEET INFORMATION
12 Months Ended
Mar. 31, 2019
Balance Sheet Related Disclosures [Abstract]  
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):
 
   
March 31,
 
   
2019
   
2018
 
Manufacturing inventories:
               
Finished goods
               
Manufactured finished goods
  $ 8,160     $ 11,215  
Distributor inventory
    3,345       10,870  
   
 
 
   
 
 
 
Total finished goods
    11,505       22,085  
   
 
 
   
 
 
 
Work in progress
    107       778  
Raw materials
    6,828       11,565  
   
 
 
   
 
 
 
Total manufacturing inventories
  $ 18,440     $ 34,428  
   
 
 
   
 
 
 
     
Service inventories:
               
Finished goods
  $ 13,437     $ 14,863  
Component parts
    5,633       7,026  
   
 
 
   
 
 
 
Total service inventories
  $ 19,070     $ 21,889  
   
 
 
   
 
 
 
     
Other current assets:
               
Insurance receivable
  $ 8,950     $ —    
Prepayments
    3,856       4,331  
Income tax receivable
    1,927       582  
Other
    3,362       8,652  
   
 
 
   
 
 
 
Total other current assets
  $ 18,095     $ 13,565  
   
 
 
   
 
 
 
     
Property and equipment, net
               
Machinery and equipment
  $ 30,306     $ 34,090  
Furniture and fixtures
    2,073       1,942  
Leasehold improvements
    6,990       6,763  
   
 
 
   
 
 
 
      39,369       42,795  
Less: accumulated depreciation and amortization
    (30,932     (33,097
   
 
 
   
 
 
 
Total property, plant and equipment, net
  $ 8,437     $ 9,698  
   
 
 
   
 
 
 
Other accrued liabilities:
               
Accrued expenses
  $ 8,925     $ 7,619  
Asset retirement obligation
    1,936       2,176  
Accrued settlement
    10,452       101  
Accrued warranty
    3,456       2,422  
Other accrued liabilities
    4,256       5,320  
   
 
 
   
 
 
 
Total other current liabilities
  $ 29,025     $ 17,638  
   
 
 
   
 
 
 
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):
 
   
For the year ended March 31,
 
   
2019
   
2018
   
2017

(as restated)
 
Opening balance
  $ 2,422     $ 3,689     $ 3,448  
Additional warranties issued
    5,766       5,139       7,491  
Adjustments for warranties issued in prior fiscal years
    326       (116     309  
Settlements
    (5,058     (6,291     (7,559
   
 
 
   
 
 
   
 
 
 
Ending balance
  $ 3,456     $ 2,422     $ 3,689