Balance Sheet Components

Accounts receivable, net:



	September 30, 2018			June 30, 2018
	(in thousands)
Accounts receivable	$	55,290		$	52,687
Less: Allowance for price adjustments	(18,152		)	(18,902		)
Less: Allowance for doubtful accounts	(30		)	(30		)
Accounts receivable, net	$	37,108		$	33,755

Inventories:



	September 30, 2018		June 30, 2018
	(in thousands)
Raw materials	$	51,854	$	47,097
Work in-process	39,296		35,243
Finished goods	6,899		7,842
	$	98,049	$	90,182

Other current assets:



	September 30, 2018		June 30, 2018
	(in thousands)
VAT receivable	$	25,722	$	17,601
Other prepaid expenses	2,417		2,121
Prepaid insurance	1,109		906
Prepaid maintenance	685		556
Prepayment to supplier	735		227
Prepaid income tax	761		761
Custom deposit	26		5,749
Lease financing cost	910		960
Other receivable	390		670
	$	32,755	$	29,551

Property, plant and equipment, net:



	September 30, 2018			June 30, 2018
	(in thousands)
Land	$	4,877		$	4,877
Building	33,836			4,325
Manufacturing machinery and equipment	274,818			265,192
Equipment and tooling	17,891			16,605
Computer equipment and software	26,751			25,686
Office furniture and equipment	2,318			2,314
Leasehold improvements	30,499			29,900
Land use rights	8,750			9,089
	399,740			357,988
Less: accumulated depreciation	(229,627		)	(225,184		)
	170,113			132,804
Equipment and construction in progress	198,436			198,852
Property, plant and equipment, net	$	368,549		$	331,656

Intangible assets, net:



	September 30, 2018			June 30, 2018
	(in thousands)
Patents and technology rights	$	17,637		$	17,633
Trade name	268			268
Customer relationships	1,150			1,150
	19,055			19,051
Less: accumulated amortization	(2,757		)	(2,729		)
	16,298			16,322
Goodwill	269			269
Intangible assets, net	$	16,567		$	16,591

Intangible assets of patents and technology rights 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 for digital power products, primarily in the computer server segment. As of September 30, 2018, the Company recorded $15.8 million of intangible assets related to STMicro. The Company begins amortizing such license fees when the technology has met the Company's qualification and is ready for its intended use in production.

Other long-term assets:



	September 30, 2018		June 30, 2018
	(in thousands)
Prepayments for property and equipment	$	5,844	$	17,599
Investment in a privately held company	700		700
Lease financing costs	1,630		1,922
VAT long-term receivable	478		3,396
Custom deposit	1,766		1,589
Other long-term deposits	1,983		2,252
Office leases deposits	981		853
Other	315		387
	$	13,697	$	28,698

Accrued liabilities:



	September 30, 2018		June 30, 2018
	(in thousands)
Accrued compensation and benefits	$	23,674	$	18,484
Warranty accrual	632		535
Stock rotation accrual	1,775		1,750
Accrued professional fees	1,860		1,922
Accrued inventory	640		667
Accrued facilities related expenses	3,446		2,163
Accrued financing lease costs	1,454		1,510
Accrued property, plant and equipment	15,038		18,145
Other accrued expenses	7,535		4,665
	$	56,054	$	49,841

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



	Three Months Ended September 30,
	2018			2017
	(in thousands)
Beginning balance	$	535		$	1,866
Additions (reductions)	136			(237		)
Utilization	(39		)	(7		)
Ending balance	$	632		$	1,622

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



	Three Months Ended September 30,
	2018			2017
	(in thousands)
Beginning balance	$	1,750		$	1,871
Additions	748			791
Utilization	(723		)	(668		)
Ending balance	$	1,775		$	1,994