6. Inventory

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

	September 30, 2013		March 31, 2013
Raw materials	$	7,183	$	5,966
Work-in-process		3,530		3,427
Finished goods		10,689		21,655
Deferred program costs		3,072		2,425
Net inventory	$	24,474	$	33,473

The Company recorded inventory write-downs of less than $0.1 million and $0.2 million for the three months ended September 30, 2013 and 2012, respectively. The Company recorded inventory write-downs of $0.2 million and $0.4 million for the six months ended September 30, 2013 and 2012, respectively. These write downs were based on evaluating its ending inventory on hand for excess quantities and obsolescence.

Deferred program costs as of September 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.