Quarterly report pursuant to Section 13 or 15(d)

Inventories

Inventories

3 Months Ended

Jun. 30, 2012

Note 5.

Inventories

Inventories are stated at the lower of first-in, first-out (“FIFO”) cost or market value. The components of inventories are as follows:


(in thousands)	June 30, 2012			March 31, 2012
Raw material	$	5,940		$	5,290
Finished goods		6,440			6,095
Reserve for excess and obsolete inventory and net realizable value		(2,006	)		(1,479	)

Total inventory	$	10,374		$	9,906

The increase in inventory reserves as of June 30, 2012 resulted from additional charges taken in the first quarter of fiscal year 2013 to reserve for excess inventory resulting from reduced T1 product demand in the Westell segment.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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