Annual report pursuant to Section 13 and 15(d)

Restructuring Charge

Restructuring Charge

12 Months Ended

Mar. 31, 2018

Restructuring Charges:

In fiscal year 2018, the Company recorded a restructuring expense of $0.2 million related to employee termination costs that spanned all three segments (the 2018 restructuring).

In the first quarter of fiscal year 2017, the Company approved a restructuring plan (the 2017 restructuring), including discontinuing development of the ClearLink Distributed Antenna System (DAS), a general reduction of headcount that spans all three segments, and consolidation of facilities in Manchester, NH and Aurora, IL. The Company recognized a restructuring expense of $3.2 million in the twelve months ended March 31, 2017, inclusive of non-cash charges of approximately $1.2 million related to losses on leased facilities, $1.3 million of employee termination costs, and $0.7 million of other associated costs. In addition to the restructuring expense, a $1.2 million impairment charge of fixed assets and $1.6 million of E&O expense for ClearLink DAS inventory and pipeline inventory was recorded in the twelve months ended March 31, 2017, associated with the IBW segment.

As of March 31, 2018, $0.1 million of the reorganization costs, primarily related to the office space from the 2017 restructuring, are unpaid and accrued on the Consolidated Balance Sheets presented in Accrued restructuring. As of March 31, 2017, $1.2 million and $0.1 million of the restructuring costs, primarily related to the office space are unpaid and accrued on the Consolidated Balance Sheets presented in Accrued restructuring and Accrued restructuring non-current, respectively. The restructuring costs are expected to be fully paid in fiscal year 2019 concurrent with the termination date of the contractual lease.

Total fiscal year 2018 restructuring charges and their utilization are summarized as follows:



(in thousands)	Employee -related			Other costs			Total
Liability at March 31, 2017	$	—		$	1,234		$	1,234
Charged	165			—			165
Payments	(165		)	(1,171		)	(1,336		)
Liability at March 31, 2018	$	—		$	63		$	63

Total fiscal year 2017 restructuring charges and their utilization are summarized as follows:



(in thousands)	Employee -related			Other costs			Total
Liability at March 31, 2016	$	441		$	1,646		$	2,087
Charged	1,326			1,829			3,155
Payments	(1,767		)	(2,241		)	(4,008		)
Liability at March 31, 2017	$	—		$	1,234		$	1,234