Balance Sheet Components

Accounts receivable, net:



	March 31, 2018			June 30, 2017
	(in thousands)
Accounts receivable	$	49,607		$	48,039
Less: Allowance for price adjustments	(20,650		)	(19,599		)
Less: Allowance for doubtful accounts	(30		)	(30		)
Accounts receivable, net	$	28,927		$	28,410

Inventories:



	March 31, 2018		June 30, 2017
	(in thousands)
Raw materials	$	45,295	$	32,118
Work in-process	36,252		36,081
Finished goods	8,925		8,055
	$	90,472	$	76,254

Other current assets:



	March 31, 2018		June 30, 2017
	(in thousands)
VAT receivable	$	12,979	$	591
Other prepaid expenses	2,438		2,171
Prepayment to supplier	611		148
Prepaid income tax	536		1,356
Other receivable	551		617
	$	17,115	$	4,883

Property, plant and equipment, net:



	March 31, 2018			June 30, 2017
	(in thousands)
Land	$	4,877		$	4,877
Building	4,325			4,325
Manufacturing machinery and equipment	250,341			215,275
Equipment and tooling	15,098			13,549
Computer equipment and software	25,310			24,346
Office furniture and equipment	2,150			1,935
Leasehold improvements	29,740			29,136
Land use rights	9,566			8,849
	341,407			302,292
Less: accumulated depreciation	(222,568		)	(194,882		)
	118,839			107,410
Equipment and construction in progress	139,956			40,781
Property, plant and equipment, net	$	258,795		$	148,191

Intangible assets, net:



	March 31, 2018			June 30, 2017
	(in thousands)
License fees	$	17,633		$	1,248
Trade name	268			268
Customer relationships	1,150			1,150
	19,051			2,666
Less: accumulated amortization	(2,701		)	(2,653		)
	16,350			13
Goodwill	269			269
Intangible assets, net	$	16,619		$	282

Intangible assets of license fees are primarily related to a license agreement that the Company entered into with STMicroelectronics International N.V. (“STMicro”) on September 5, 2017, pursuant to which STMicro granted the Company a world-wide, royalty-free and fully-paid license to use its technologies to develop, market and distribute certain digital multi-phase controller products, which have been offered by STMicro. This agreement allows the Company to develop and market products in a new market, primarily in the computer server segment. Under the license agreement, the Company agreed to pay a total price in cash of $17.0 million based on the payment schedule of approximately $10.1 million, $6.7 million, $0.2 million in calendar year 2017, 2018 and 2019, respectively. As of March 31, 2018, the Company recorded $16.4 million in intangible assets, of which $13.5 million in cash was paid to STMicro. The Company begins amortizing such license fees when the technology has met the Company's qualification.

Other long-term assets:



	March 31, 2018		June 30, 2017
	(in thousands)
Prepayments for property and equipment	$	47,523	$	12,964
Investment in a privately held company	700		700
Prepaid income tax	—		4,377
Long-term deposits	4,246		1,608
Other	361		216
	$	52,830	$	19,865

Accrued liabilities:



	March 31, 2018		June 30, 2017
	(in thousands)
Accrued compensation and benefits	$	13,878	$	13,727
Warranty accrual	611		1,866
Stock rotation accrual	1,774		1,871
Accrued professional fees	1,903		2,500
Accrued inventory	703		410
Accrued facilities related expenses	1,824		1,501
Accrued property, plant and equipment	33,755		2,241
Other accrued expenses	7,169		4,270
	$	61,617	$	28,386

The activities in the warranty accrual, included in accrued liabilities, are as follows



	Nine Months Ended March 31,
	2018				2017
	(in thousands)
Beginning balance	$	1,866			$	1,495
Additions (Reductions)	(1,203		)	*	898
Utilization	(52		)		(521		)
Ending balance	$	611			$	1,872

* Released a specific warranty reserve of approximately $1.0 million as the warranty period had expired.

The activities in the stock rotation accrual, included in accrued liabilities, are as follows:



	Nine Months Ended March 31,
	2018			2017
	(in thousands)
Beginning balance	$	1,871		$	1,988
Additions	2,147			3,986
Utilization	(2,244		)	(4,262		)
Ending balance	$	1,774		$	1,712