Quarterly report pursuant to Section 13 or 15(d)

Basis of Presentation (Tables)

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