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3. BALANCE SHEET DETAIL | 9 Months Ended
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Dec. 31, 2016
BALANCE SHEET DETAIL |
NOTE 3 - BALANCE SHEET DETAIL | NOTE 3—BALANCE SHEET DETAIL
|  | December 31, 2016 |  | March 31, 2016 |
|  | (In thousands) |
Inventories: |  |  |
Work-in-progress |  | $ | 2,551 |  | $ | 1,697 |
Finished goods |  |  | 6,317 |  |  | 5,011 |
Inventory at distributors |  |  | 375 |  |  | 466 |
|  | $ | 9,243 |  | $ | 7,174 |
|  | December 31, 2016 |  | March 31, 2016 |
|  | (In thousands) |
Accounts receivable, net: |  |  |  |  |  |  |
Accounts receivable |  | $ | 7,162 |  | $ | 7,578 |
Less: Allowances for sales returns, doubtful accounts and other |  |  | (103) |  |  | (100) |
|  | $ | 7,059 |  | $ | 7,478 |
|  | December 31, 2016 |  | March 31, 2016 |
|  | (In thousands) |
Prepaid expenses and other current assets: |  |  |  |  |  |  |
Prepaid tooling and masks |  | $ | 1,021 |  | $ | 1,224 |
Prepaid income taxes |  |  | 43 |  |  | — |
Escrow deposit |  |  | 1,234 |  |  | — |
Other receivables |  |  | 306 |  |  | 230 |
Other prepaid expenses and other current assets |  |  | 556 |  |  | 744 |
|  | $ | 3,160 |  | $ | 2,198 |
|  | December 31, 2016 |  | March 31, 2016 |
|  | (In thousands) |
Property and equipment, net: |  |  |  |  |  |  |
Computer and other equipment |  | $ | 18,560 |  | $ | 18,394 |
Software |  |  | 4,793 |  |  | 4,793 |
Land |  |  | 3,900 |  |  | 3,900 |
Building and building improvements |  |  | 2,256 |  |  | 2,256 |
Furniture and fixtures |  |  | 110 |  |  | 114 |
Leasehold improvements |  |  | 715 |  |  | 687 |
|  |  | 30,334 |  |  | 30,144 |
Less: Accumulated depreciation |  |  | (22,405) |  |  | (21,491) |
|  | $ | 7,929 |  | $ | 8,653 |
Depreciation expense was $289,000 and $322,000, respectively, for the three months ended December 31, 2016 and 2015 and $919,000 and $892,000, respectively, for the nine months ended December 31, 2016 and 2015.
|  | December 31, 2016 |  | March 31, 2016 |
|  | (In thousands) |
Other assets: |  |  |  |  |  |  |
Escrow deposit |  | $ | 1,750 |  | $ | 2,984 |
Non-current deferred income taxes |  |  | 23 |  |  | — |
Prepaid income taxes |  |  | 563 |  |  | — |
Deposits |  |  | 125 |  |  | 102 |
|  | $ | 2,461 |  | $ | 3,086 |
The escrow deposits at December 31, 2016 and March 31, 2016 include approximately $1.8 million and $3.0 million, respectively, placed in escrow in connection with the Company’s acquisition of MikaMonu Group Ltd. on November 23, 2015. See Note 10— Acquisition for more information. The following tables summarize the components of intangible assets and related accumulated amortization balances at December 31, 2016 and March 31, 2016 (in thousands):
|  | As of December 31, 2016 |
|  | Gross Carrying Amount |  | Accumulated amortization |  | Net Carrying Amount |
Intangible assets: |  |  |  |  |  |  |  |  |  |
Product designs |  | $ | 590 |  | $ | (590) |  | $ | — |
Patents |  |  | 4,220 |  |  | (839) |  |  | 3,381 |
Software |  |  | 80 |  |  | (80) |  |  | — |
Total |  | $ | 4,890 |  | $ | (1,509) |  | $ | 3,381 |
|  | As of March 31, 2016 |
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |
Intangible assets: |  |  |  |  |  |  |  |  |  |
Product designs |  | $ | 590 |  | $ | (555) |  | $ | 35 |
Patents |  |  | 4,220 |  |  | (604) |  |  | 3,616 |
Software |  |  | 80 |  |  | (80) |  |  | — |
Total |  | $ | 4,890 |  | $ | (1,239) |  | $ | 3,651 |
Amortization of intangible assets included in cost of revenues was $78,000 and $63,000, respectively, for the three months ended December 31, 2016 and 2015 and $270,000 and $145,000, respectively, for the nine months ended December 31, 2016 and 2015. As of December 31, 2016, the estimated future amortization expense of intangible assets in the table above is as follows (in thousands):
Twelve month period ending December 31, |  |  |  |  |  |
2017 |  | $ | 313 |  |  |  |
2018 |  |  | 287 |  |  |  |
2019 |  |  | 233 |  |  |  |
2020 |  |  | 233 |  |  |  |
2021 |  |  | 233 |  |  |  |
Thereafter |  |  | 2,082 |  |  |  |
Total |  | $ | 3,381 |  |  |  |
|  | December 31, 2016 |  | March 31, 2016 |
|  | (In thousands) |
Accrued expenses and other liabilities: |  |  |  |  |  |  |
Accrued compensation |  | $ | 3,237 |  | $ | 3,082 |
Escrow indemnity accrual |  |  | 484 |  |  | — |
Accrued professional fees |  |  | 34 |  |  | 83 |
Accrued commissions |  |  | 235 |  |  | 284 |
Contingent consideration |  |  | 1,114 |  |  | — |
Accrued retention payment |  |  | 205 |  |  | — |
Miscellaneous accrued expenses |  |  | 1,070 |  |  | 949 |
|  | $ | 6,379 |  | $ | 4,398 |
|  | December 31, 2016 |  | March 31, 2016 |
|  | (In thousands) |
Other accrued expenses: |  |  |  |  |  |  |
Contingent consideration |  | $ | 4,862 |  | $ | 5,856 |
Escrow indemnity accrual |  |  | — |  |  | 484 |
Other long-term accrued liabilities |  |  | 274 |  |  | 152 |
|  | $ | 5,136 |  | $ | 6,492 |

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