XML 34 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net income (loss) $ 103,144,000 $ (18,795,000)
Less income (loss) from discontinued operations 100,877,000 (27,665,000)
Income from continuing operations 2,267,000 8,870,000
Adjustments to reconcile net income from continuing operations to net cash provided by (used in) operating activities:    
Depreciation 1,038,000 1,052,000
Amortization of intangible assets 378,000 386,000
Amortization of deferred financing costs 924,000 796,000
Loss (gain) due to change in fair value of warrant liability 3,961,000 (57,000)
Provision for inventory reserves 908,000 765,000
Net (recovery of) provision for customer payment discrepancies (172,000) 521,000
Recovery of doubtful accounts (8,000) (3,000)
Deferred income taxes (78,000) 219,000
Share-based compensation expense 241,000 24,000
Impact of tax benefit on APIC pool from stock options exercised 0 1,000
Changes in current assets and liabilities:    
Accounts receivable 2,785,000 8,147,000
Inventory (1,267,000) (3,361,000)
Inventory unreturned (981,000) (794,000)
Prepaid expenses and other current assets 5,597,000 991,000
Other assets (236,000) (114,000)
Accounts payable and accrued liabilities (698,000) (10,796,000)
Customer finished goods returns accrual (329,000) 2,594,000
Deferred core revenue 279,000 451,000
Long-term core inventory (10,594,000) (11,417,000)
Long-term core inventory deposits (465,000) (287,000)
Other liabilities 3,970,000 2,352,000
Net cash provided by operating activities from continuing operations 7,520,000 340,000
Net cash provided by (used in) operating activities from discontinued operations 979,000 (14,883,000)
Net cash provided by (used in) operating activities 8,499,000 (14,543,000)
Cash flows from investing activities:    
Purchase of plant and equipment (1,483,000) (1,415,000)
Change in short term investments (18,000) (22,000)
Net cash used in investing activities from continuing operations (1,501,000) (1,437,000)
Cash lost on deconsolidation of subsidiary (170,000) 0
Net cash used in investing activities from discontinued operations (125,000) (445,000)
Net cash used in investing activities (1,796,000) (1,882,000)
Cash flows from financing activities:    
Proceeds from term loan 20,000,000 10,000,000
Repayments of term loan (1,200,000) 0
Deferred financing costs (600,000) (799,000)
Payments on capital lease obligations (118,000) (156,000)
Exercise of stock options 0 5,000
Excess tax benefit from employee stock options exercised 0 3,000
Impact of tax benefit on APIC pool from stock options exercised 0 (1,000)
Proceeds from issuance of common stock 0 15,004,000
Stock issuance costs 0 (1,034,000)
Net cash provided by financing activities from continuing operations 18,082,000 23,022,000
Net cash used in financing activities from discontinued operations (20,636,000) (6,871,000)
Net cash (used in) provided by financing activities (2,554,000) 16,151,000
Effect of exchange rate changes on cash (34,000) (15,000)
Net increase (decrease) in cash 4,115,000 (289,000)
Cash - Beginning of period from continuing operations 19,346,000 32,379,000
Cash - Beginning of period from discontinued operations 88,000 238,000
Cash - End of period 23,549,000 32,328,000
Less Cash - End of period from discontinued operations 0 407,000
Cash - End of period from continuing operations 23,549,000 31,921,000
Cash paid during the period for:    
Interest 7,622,000 11,879,000
Income taxes, net of refunds (6,940,000) 1,664,000
Non-cash investing and financing activities:    
Warrants issued in connection with debt 0 1,625,000
Property acquired under capital lease $ 34,000 $ 0