Annual report pursuant to Section 13 and 15(d)

Segment Information (Tables)

v2.4.0.8
Segment Information (Tables)
12 Months Ended
Mar. 31, 2014
Segment Reporting Information [Line Items]  
Schedule of Segment Reporting Information, by Segment[Table Text Block]
Segment information for the fiscal years ended March 31, 2014, 2013 and 2012, is set forth below:
 
Fiscal Year Ended March 31, 2014
(in thousands)
CSI
 
Kentrox
 
Westell
 
Total
Revenue
$
3,676

 
$
46,174

 
$
52,223

 
$
102,073

Gross profit
1,364

 
23,517

 
17,077

 
41,958

Gross margin
37.1
%
 
50.9
%
 
32.7
%
 
41.1
%
Research & development
625

 
3,778

 
6,936

 
11,339

Segment profit
$
739

 
$
19,739

 
$
10,141

 
30,619

Operating expenses:
 
 
 
 
 
 
 
Sales & marketing
 
 
 
 
 
 
14,663

General & administrative
 
 
 
 
 
 
14,027

Intangible amortization
 
 
 
 
 
 
4,908

Restructuring
 
 
 
 
 
 
335

Operating income (loss)
 
 
 
 
 
 
(3,314
)
Other income (expense), net
 
 
 
 
 
 
(56
)
Income tax (expense) benefit
 
 
 
 
 
 
8,782

Net income (loss) from continuing operations
 
 
 
 
 
 
$
5,412

 
 
 
 
 
 
 
 
 
 
 
 
 
Fiscal Year Ended March 31, 2013
(in thousands)
 
 
 
 
Westell
 
Total
Revenue
 
 
 
 
$
38,808

 
$
38,808

Gross profit
 
 
 
 
13,325

 
13,325

Gross margin
 
 
 
 
34.3
%
 
34.3
%
Research & development
 
 
 
 
5,928

 
5,928

Segment profit
 
 
 
 
$
7,397

 
7,397

Operating expenses:
 
 
 
 
 
 


Sales & marketing
 
 
 
 
 
 
7,492

General & administrative
 
 
 
 
 
 
9,310

Intangible amortization
 
 
 
 
 
 
887

Restructuring
 
 
 
 
 
 
149

Goodwill impairment
 
 
 
 
 
 
2,884

Operating income (loss)
 
 
 
 
 
 
(13,325
)
Other income (expense), net
 
 
 
 
 
 
175

Income tax (expense) benefit
 
 
 
 
 
 
(29,392
)
Net income (loss) from continuing operations
 
 
 
 
 
 
$
(42,542
)
 
Fiscal Year Ended March 31, 2012
(in thousands)
Westell
 
Total
Revenue
$
43,629

 
$
43,629

Gross profit
17,172

 
17,172

Gross margin
39.4
%
 
39.4
%
Research & development
5,460

 
5,460

Segment profit
$
11,712

 
11,712

Operating expenses:
 
 
 
Sales & marketing
 
 
5,843

General & administrative
 
 
6,996

Intangible amortization
 
 
544

Restructuring
 
 
276

Operating income (loss)
 
 
(1,947
)
Other income (expense), net
 
 
331

Income tax (expense) benefit
 
 
686

Net income (loss) from continuing operations
 
 
$
(930
)
 
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]
Significant Customers and Concentration of Credit
The Company is dependent on certain major companies operating in telecommunications markets that represent more than 10% of the total revenue. Sales to major customers and successor companies that exceed 10% of total revenue are as follows:
 
Fiscal Year Ended March 31,
 
2014
 
2013
 
2012
Verizon
23.9
%
 
17.1
%
 
17.6
%
Telamon
30.3
%
 
12.4
%
 
14.3
%
AT&T
8.8
%
 
8.7
%
 
10.4
%
Time Warner Cable
2.3
%
 
10.4
%
 
3.1
%
Schedule of Major Customer Accounts Receivable [Table Text Block]
Major companies operating in telecommunications markets comprise a significant portion of the Company’s trade receivables. Receivables from major customers that exceed 10% of total accounts receivable balance are as follows:
 
Fiscal Year Ended March 31,
 
2014
 
2013
Verizon
30.6
%
 
11.4
%
Telamon
8.5
%
 
12.6
%
AT&T
16.7
%
 
5.5
%
Time Warner Cable
1.4
%
 
19.8
%