Quarterly report pursuant to Section 13 or 15(d)

Basis of Presentation (Tables)

v3.3.0.814
Basis of Presentation (Tables)
3 Months Ended
Jun. 30, 2015
Error Corrections and Prior Period Adjustments Restatement [Line Items]  
ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsInCondensedConsolidatedBalanceSheetsTableTextBlock [Table Text Block]
The following tables provide a reconciliation of the amounts previously reported to the restated amounts:


WESTELL TECHNOLOGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share amounts)
 
June 30, 2015
(as reported)
 
Adjustments
 
June 30, 2015(as restated)
Assets
 
 
 
 
 
Current assets:
 
 
 
 
 
Cash and cash equivalents
$
20,847

 
$
—

 
$
20,847

Short-term investments
16,071

 
—

 
16,071

Accounts receivable
14,452

 
—

 
14,452

Inventories
14,785

 
—

 
14,785

Prepaid expenses and other current assets
3,423

 
—

 
3,423

Deferred income tax assets
958

 
70

 
1,028

Land held-for-sale
—

 
—

 
—

Total current assets
70,536

 
70

 
70,606

Property and equipment, gross
16,538

 
—

 
16,538

Less accumulated depreciation and amortization
(12,778
)
 
—

 
(12,778
)
Property and equipment, net
3,760

 
—

 
3,760

Other intangible assets, net
24,543

 
—

 
24,543

Other non-current assets
184

 
—

 
184

Total assets
$
99,023

 
$
70

 
$
99,093

Liabilities and Stockholders’ Equity
 
 
 
 
 
Current liabilities:
 
 
 
 
 
Accounts payable
$
7,004

 
$
—

 
$
7,004

Accrued expenses
2,425

 
1,445

 
3,870

Accrued restructuring
1,092

 
—

 
1,092

Accrued compensation
1,589

 
—

 
1,589

Contingent consideration
1,265

 
—

 
1,265

Deferred revenue
1,859

 
—

 
1,859

Total current liabilities
15,234

 
1,445

 
16,679

Deferred revenue non-current
1,032

 
—

 
1,032

Deferred income tax liability
1,114

 
70

 
1,184

Accrued restructuring non-current
1,372

 
—

 
1,372

Contingent consideration non-current
169

 
—

 
169

Other non-current liabilities
376

 
—

 
376

Total liabilities
19,297

 
1,515

 
20,812

Stockholders’ equity:
 
 
 
 
 
Class A common stock
469

 
—

 
469

Class B common stock
139

 
—

 
139

Additional paid-in capital
413,482

 
—

 
413,482

Treasury stock at cost
(35,115
)
 
—

 
(35,115
)
Cumulative translation adjustment
608

 
—

 
608

Accumulated deficit
(299,857
)
 
(1,445
)
 
(301,302
)
Total stockholders’ equity
79,726

 
(1,445
)
 
78,281

Total liabilities and stockholders’ equity
$
99,023

 
$
70

 
$
99,093

WESTELL TECHNOLOGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
In thousands, except share and per share amounts)
 
March 31, 2015(as reported)
 
Adjustments
 
March 31, 2015( as restated)
Assets
 
 
 
 
 
Current assets:
 
 
 
 
 
Cash and cash equivalents
$
14,026

 
$
—

 
$
14,026

Short-term investments
23,906

 
—

 
23,906

Accounts receivable
11,845

 
—

 
11,845

Inventories
16,205

 
—

 
16,205

Prepaid expenses and other current assets
3,285

 
—

 
3,285

Deferred income tax assets
973

 
70

 
1,043

Land held-for-sale
264

 
—

 
264

Total current assets
70,504

 
70

 
70,574

Property and equipment, gross
16,084

 
—

 
16,084

Less accumulated depreciation and amortization
(12,481
)
 
—

 
(12,481
)
Property and equipment, net
3,603

 
—

 
3,603

Other intangible assets, net
25,942

 
—

 
25,942

Other non-current assets
258

 
—

 
258

Total assets
$
100,307

 
$
70

 
$
100,377

Liabilities and Stockholders’ Equity
 
 
 
 
 
Current liabilities:
 
 
 
 
 
Accounts payable
$
4,011

 
$
—

 
$
4,011

Accrued expenses
3,157

 
1,445

 
4,602

Accrued restructuring
1,161

 
—

 
1,161

Accrued compensation
974

 
—

 
974

Contingent consideration
1,184

 
—

 
1,184

Deferred revenue
2,415

 
—

 
2,415

Total current liabilities
12,902

 
1,445

 
14,347

Deferred revenue non-current
751

 
—

 
751

Deferred income tax liability
1,019

 
70

 
1,089

Accrued restructuring non-current
1,642

 
—

 
1,642

Contingent consideration non-current
400

 
—

 
400

Other non-current liabilities
409

 
—

 
409

Total liabilities
17,123

 
1,515

 
18,638

Stockholders’ equity:
 
 
 
 
 
Class A common stock
468

 
—

 
468

Class B common stock
139

 
—

 
139

Additional paid-in capital
413,026

 
—

 
413,026

Treasury stock at cost
(35,066
)
 
—

 
(35,066
)
Cumulative translation adjustment
608

 
—

 
608

Accumulated deficit
(295,991
)
 
(1,445
)
 
(297,436
)
Total stockholders’ equity
83,184

 
(1,445
)
 
81,739

Total liabilities and stockholders’ equity
$
100,307

 
$
70

 
$
100,377