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Inventory

9 Months Ended

Dec. 31, 2010

Inventory

Inventory

8.        Inventory

The components of inventory are as follows (in thousands):

	December  31,		March 31,
	2010		2010
	(Restated)
	Raw materials	$21,778		$18,065
Work-in-process	4,845		7,318
Finished goods	48,966		7,879
Deferred program costs	2,055		2,596
Net inventory	$77,644		$35,858

As described in Note 2, "Restatement," the Company's unaudited condensed consolidated financial statements for the three and nine months ended December 31, 2010 have been restated to reflect adjustments to record revenues on a cash basis for certain of its customers and the related effects to inventory.

Finished goods inventory as of December 31, 2010 includes $38.9 million of costs of product shipped to certain customers in China on contracts for which revenue will not be recognized until cash is received or payment is otherwise reasonably assured.

Deferred program costs as of December 31, 2010 and March 31, 2010 primarily represent costs incurred on wind turbine development programs accounted for under contract accounting where the Company needs to achieve certain milestones or complete development programs before revenue and costs will be recognized.

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- Definition

This element represents the complete disclosure related to inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 3
-Section A
-Paragraph 9

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 6
-Subparagraph a, b, c
-Article 5

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