Annual report pursuant to Section 13 and 15(d)

Product Warranties

Product Warranties

12 Months Ended

Mar. 31, 2016

Product Warranties Disclosures [Abstract]

Product Warranties:

The Company’s products in the CSG segment carry a limited warranty ranging from one to seven years and from one to five years for the products within the IBW segment. The specific terms and conditions of those warranties vary depending upon the customer and the product sold. Factors that enter into the estimate of the Company’s warranty reserve include: the number of units shipped historically, anticipated rates of warranty claims, and cost per claim. The Company periodically assesses the adequacy of its recorded warranty liability and adjusts the reserve as necessary. The current portions of the warranty reserve were $229,000 and $383,000 as of March 31, 2016 and 2015, respectively, and are presented on the Consolidated Balance Sheets as accrued expenses. The long-term portions of the warranty reserve were $207,000 and $122,000 as of March 31, 2016 and 2015, respectively, and are presented on the Consolidated Balance Sheets as other long-term liabilities.

The following table presents the changes in our product warranty reserve:



	Fiscal Year Ended March 31,
(in thousands)	2016			2015
Total product warranty reserve, beginning of period	$	505		$	328
Warranty expense	235			446
Utilization	(304		)	(269		)
Total product warranty reserve, end of period	$	436		$	505