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Business Segments | 3 Months Ended
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Jun. 30, 2017
Segment Reporting [Abstract] |
Business Segments | Business Segments The Company reports its financial results in two reportable business segments: Wind and Grid. Through the Company’s Windtec Solutions, the Wind business segment enables manufacturers to field wind turbines with exceptional power output, reliability and affordability. The Company supplies advanced power electronics and control systems, licenses its highly engineered wind turbine designs, and provides extensive customer support services to wind turbine manufacturers. The Company’s design portfolio includes a broad range of drive trains and power ratings of 2 MWs and higher. The Company provides a broad range of power electronics and software-based control systems that are highly integrated and designed for optimized performance, efficiency, and grid compatibility. Through the Company’s Gridtec Solutions, the Grid business segment enables electric utilities and renewable energy project developers to connect, transmit and distribute power with exceptional efficiency, reliability and affordability. The sales process is enabled by transmission planning services that allow it to identify power grid congestion, poor power quality and other risks, which helps the Company determine how its solutions can improve network performance. These services often lead to sales of grid interconnection solutions for wind farms and solar power plants, power quality systems, and transmission and distribution cable systems. The Company also sells ship protection products to the U.S. Navy through its Grid business segment. The operating results for the two business segments are as follows (in thousands):
| Three months ended June 30,
| 2017 |  | 2016
Revenues: |  |  |
Wind | $ | 2,278 |  |  | $ | 5,675 |
Grid | 6,645 |  |  | 7,670 |
Total | $ | 8,923 |  |  | $ | 13,345 |
| Three months ended June 30,
| 2017 |  | 2016
Operating (loss) profit: |  |  |
Wind | $ | (4,433 | ) |  | $ | (3,030 | )
Grid | (8,167 | ) |  | (5,315 | )
Unallocated corporate expenses | (2,093 | ) |  | (999 | )
Total | $ | (14,693 | ) |  | $ | (9,344 | )
The accounting policies of the business segments are the same as those for the consolidated Company. The Company’s business segments have been determined in accordance with the Company’s internal management structure, which is organized based on operating activities. The Company evaluates performance based upon several factors, of which the primary financial measures are segment revenues and segment operating loss. The disaggregated financial results of the segments reflect allocation of certain functional expense categories consistent with the basis and manner in which Company management internally disaggregates financial information for the purpose of assisting in making internal operating decisions. In addition, 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 loss. Unallocated corporate expenses primarily consist of stock-based compensation expense of $0.8 million and $1.0 million in the three months ended June 30, 2017 and 2016, respectively. Additionally a restructuring charge of $1.3 million is included in the three months ended June 30, 2017. Total assets for the two business segments as of June 30, 2017 and March 31, 2017 are as follows (in thousands):
| June 30, 2017 |  | March 31, 2017
Wind | $ | 17,162 |  |  | $ | 18,346 |
Grid | 26,811 |  |  | 31,060 |
Corporate assets | 60,630 |  |  | 50,838 |
Total | $ | 104,603 |  |  | $ | 100,244 |
The following table sets forth customers who represented 10% or more of the Company’s total revenues for the three months ended June 30, 2017 and 2016:
| Three months ended June 30,
| 2017 |  | 2016
INOX Wind Limited | 22 | % |  | 27 | %
U.S. Navy | 35 | % |  | — | %
Reed & Reed Inc. | <10% |  |  | 17 | %
Essential Energy | <10% |  |  | 13 | %
XJ Group Corporation | — | % |  | 12 | %

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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