Annual report pursuant to Section 13 and 15(d)

Segment Information (Tables)

v3.3.0.814
Segment Information (Tables)
12 Months Ended
Mar. 31, 2015
Segment Reporting Information [Line Items]  
Schedule of Segment Reporting Information, by Segment[Table Text Block]
Segment information for the fiscal years ended March 31, 2015, 2014 and 2013, is set forth below:
 
Fiscal Year Ended March 31, 2015 (as restated (1))
(in thousands)
IBW
 
CSG
 
Total
Revenue
$
37,714

 
$
46,413

 
$
84,127

Gross profit
13,715

 
13,095

 
26,810

Gross margin
36.4
%
 
28.2
%
 
31.9
%
Research & development
8,955

 
8,393

 
17,348

Segment profit
$
4,760

 
$
4,702

 
9,462

Operating expenses:
 
 
 
 
 
Sales & marketing
 
 
 
 
12,407

General & administrative
 
 
 
 
14,678

Intangible amortization
 
 
 
 
6,377

Restructuring
 
 
 
 
3,243

Goodwill impairment
 
 
 
 
31,997

Operating income (loss)
 
 
 
 
(59,240
)
Other income (expense), net
 
 
 
 
(2
)
Income tax (expense) benefit
 
 
 
 
201

Net income (loss) from continuing operations
 
 
 
 
$
(59,041
)
(1) See Note 1 for restatement information.
 
 
 
 
 
 
Fiscal Year Ended March 31, 2014 (as restated (1))
(in thousands)
IBW
 
CSG
 
Total
Revenue
$
13,096

 
$
88,977

 
$
102,073

Gross profit
4,161

 
36,300

 
40,461

Gross margin
31.8
%

40.8
%
 
39.6
%
Research & development
1,360

 
9,979

 
11,339

Segment profit
$
2,801

 
$
26,321

 
29,122

Operating expenses:
 
 
 
 


Sales & marketing
 
 
 
 
13,304

General & administrative
 
 
 
 
14,027

Intangible amortization
 
 
 
 
4,889

Restructuring
 
 
 
 
335

Operating income (loss)
 
 
 
 
(3,433
)
Other income (expense), net
 
 
 
 
(56
)
Income tax (expense) benefit
 
 
 
 
7,910

Net income (loss) from continuing operations
 
 
 
 
$
4,421

(1) See Note 1 for restatement information.

 
Fiscal Year Ended March 31, 2013
(in thousands)
IBW
 
CSG
 
Total
Revenue
$
904

 
$
37,904

 
$
38,808

Gross profit
391

 
12,225

 
12,616

Gross margin
43.3
%
 
32.3
%
 
32.5
%
Research & development
305

 
5,623

 
5,928

Segment profit
$
86

 
$
6,602

 
6,688

Operating expenses:
 
 
 
 
 
Sales & marketing
 
 
 
 
6,783

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
)
 
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,
 
2015
 
2014
 
2013
Verizon
30.5
%
 
23.9
%
 
17.1
%
Telamon
5.8
%
 
30.3
%
 
12.4
%
Time Warner Cable
2.6
%
 
2.3
%
 
10.4
%
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,
 
2015
 
2014
Verizon
30.4
%
 
30.6
%
AT&T
12.7
%
 
16.7
%