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Business Segment And Geographic Information
 12 Months Ended
Mar. 31, 2012
Business Segment And Geographic Information [Abstract]  
Business Segment And Geographic Information

16. Business Segment and Geographic Information

The Company reported its financial results in two reportable business segments: Wind and Grid.

     Wind produces a broad range of products to increase electrical grid capacity and reliability; supplies electrical systems used in wind turbines; sells power electronic products that regulate wind farm voltage to enable their interconnection to the power grid; licenses proprietary wind turbine designs to manufacturers of such systems; provides consulting services to the wind industry; and offers products that enhance power quality for industrial operations.

     Grid focuses on manufacturing HTS wire and coils; designs and develops superconductor products, such as power cables, fault current limiters and motors; and manages large-scale superconductor projects.

The operating results for the two business segments are as follows (in thousands):

    For the years ended March 31,
Revenues   2012   2011   2010
Wind $ 44,642 $ 231,761 $ 251,487
Grid   31,901   54,842   64,468
Total $ 76,543 $ 286,603 $ 315,955

 

    For the years ended March 31,  
Operating (loss) income   2012     2011     2010  
Wind $ (62,217 ) $ (100,546 ) $ 91,000  
Grid   (29,645 )   (63,855 )   (37,828 )
Unallocated corporate expenses   (44,577 )   (13,582 )   (14,511 )
Total $ (136,439 ) $ (177,983 ) $ 38,661  

 

Total business segments assets are as follows (in thousands):

    March 31,  
    2012   2011
Wind $ 70,054 $ 78,700
Grid   89,091   85,607
Corporate assets   95,911   276,902
Total $ 255,056 $ 441,209

 

     The accounting policies of the business segments are the same as those for the consolidated Company. Certain corporate expenses which the Company does not believe are specifically attributable or allocable to either of the two business segments have been excluded from the segment operating income.

     Unallocated corporate expenses include stock-based compensation expense of $9.9 million, $13.4 million and $13.5 million for the years ended March 31, 2012, 2011 and 2010, respectively. For the year ended March 31, 2012, unallocated corporate expenses also included the write-off of advance payment to The Switch of $20.6 million, restructuring and impairment charges of $9.2 million, and an expense of patent costs of $4.9 million.

Geographic information about revenue, based on shipments to customers by region, is as follows (in thousands):

 

    For the years ended March 31,
    2012   2011   2010
U.S $ 21,347 $ 18,642 $ 40,750
North America and South America   1,219   6,670   4,441
Europe   2,868   10,289   14,758
China   16,929   219,194   241,462
Korea   12,486   10,281   8,245
India   14,212   3,835   1,787
Other Asia-Pacific   7,482   17,692   4,512
Total $ 76,543 $ 286,603 $ 315,955

 

     In the year ended March 31, 2012, 2011 and 2010, 72%, 93% and 87% of the Company's revenues, respectively, were recognized from sales outside the United States. The Company maintains operations in Austria, China and the United States and sales and service support centers around the world.

     In the year ended March 31, 2012, two customers, Inox Wind and Doosan Heavy Industries, accounted for approximately 18% and 11%, respectively, of the Company's total revenues. For the years ended March 31, 2011 and 2010, the Company had one customer, Sinovel, which represented approximately 68% and 70% of total revenue, respectively.

Geographic information about property, plant and equipment associated with particular regions is as follows (in thousands):

    March 31,
    2012   2011
U.S and other North America $ 83,421 $ 86,971
Europe   3,538   5,895
Asia-Pacific   3,869   3,628
Total $ 90,828 $ 96,494