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Inventory

3 Months Ended

Jun. 30, 2013

6.	Inventory

The components of inventory at June 30, 2013 and March 31, 2013 are as follows (in thousands):


	June 30, 2013		March 31, 2013
Raw materials	$	6,423	$	5,966
Work-in-process		3,730		3,427
Finished goods		17,914		21,655
Deferred program costs		2,685		2,425

Net inventory	$	30,752	$	33,473

For the three months ended June 30, 2013, the Company recorded an inventory write-down of approximately $0.2 million based on evaluating its ending inventory on hand for excess quantities and obsolescence.

Deferred program costs as of June 30, 2013 and March 31, 2013 primarily represent costs incurred on programs accounted for under contract accounting where the Company needs to complete development programs before revenue and costs will be recognized, respectively.

- Definition

The entire disclosure for 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.

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