December
31
|
March
31
|
||||||
|
2006
|
2006
|
|||||
ASSETS
|
|||||||
Current
assets:
|
|||||||
Cash
and cash equivalents
|
$
|
29,502
|
$
|
13,787
|
|||
Accounts
receivable, net of allowances for sales returns and doubtful accounts
of
$464 and $205 at December 31, 2006, and March 31, 2006,
respectively
|
2,265
|
5,265
|
|||||
Inventories,
net
|
5,886
|
7,700
|
|||||
Prepaid
expenses and other current assets
|
1,211
|
1,270
|
|||||
Total
current assets
|
38,864
|
28,022
|
|||||
Property
and equipment, net
|
1,033
|
1,849
|
|||||
Intangible
assets, net
|
1,238
|
1,474
|
|||||
Other
assets
|
146
|
146
|
|||||
Total
assets
|
$
|
41,281
|
$
|
31,491
|
|||
LIABILITIES
AND STOCKHOLDERS’ EQUITY
|
|||||||
Current
liabilities:
|
|||||||
Notes
payable and bank lines of credit
|
$
|
37
|
$
|
27
|
|||
Accounts
payable
|
2,271
|
2,458
|
|||||
Accrued
product warranty
|
852
|
506
|
|||||
Deferred
revenue
|
794
|
477
|
|||||
Litigation
suspense
|
19,500
|
—
|
|||||
Accrued
expenses and other current liabilities
|
1,909
|
1,975
|
|||||
Total
current liabilities
|
25,363
|
5,443
|
|||||
Long-term
portion of capital lease obligations
|
—
|
2
|
|||||
Other
long term obligations
|
—
|
6
|
|||||
Total
long term liabilities
|
—
|
8
|
|||||
Total
liabilities
|
25,363
|
-5,451
|
|||||
Stockholders’
equity:
|
|||||||
Preferred
stock; $ 0.01 par value;
5,000,000
shares authorized; none issued and outstanding
|
—
|
—
|
|||||
Common
stock; $ 0.01 par value; 200,000,000
shares authorized;
7,106,867 and 7,021,088
shares issued and outstanding at December 31, 2006 and March 31,
2006,
respectively
|
71
|
70
|
|||||
Restricted
share units
|
281
|
1,034
|
|||||
Additional
paid-in capital
|
121,787
|
119,558
|
|||||
Accumulated
other comprehensive income
|
142
|
532
|
|||||
Accumulated
deficit
|
(106,363
|
)
|
(95,154
|
)
|
|||
Total
stockholders’ equity
|
15,918
|
26,040
|
|||||
Total
liabilities and stockholders’ equity
|
$
|
41,281
|
$
|
31,491
|
|||
Three
Months
December
31,
|
Nine
Months
December
31,
|
||||||||||||
2006
|
2005
|
2006
|
2005
|
||||||||||
Revenue
|
$
|
4,377
|
$
|
6,246
|
$
|
16,066
|
$
|
15,704
|
|||||
Cost
of revenue
|
5,703
|
4,565
|
12,494
|
10,905
|
|||||||||
Gross
profit (loss)
|
(1,326
|
)
|
1,681
|
3,572
|
4,799
|
||||||||
Operating
expenses:
|
|||||||||||||
Research
and development
|
1,077
|
1,039
|
3,139
|
3,426
|
|||||||||
Sales
and marketing
|
949
|
694
|
2,957
|
2,095
|
|||||||||
General
and administrative
|
3,063
|
1,128
|
8,850
|
5,766
|
|||||||||
Total
operating expenses
|
5,089
|
2,861
|
14,946
|
11,287
|
|||||||||
Operating
loss
|
(6,415
|
)
|
(1,180
|
)
|
(11,374
|
)
|
(6,488
|
)
|
|||||
Other
income (expense), net
|
290
|
(724
|
)
|
166
|
(604
|
)
|
|||||||
Net
loss
|
$
|
(6,125
|
)
|
$
|
(1,904
|
)
|
$
|
(11,208
|
)
|
$
|
(7,092
|
)
|
|
Net
loss per share, basic and diluted
|
$
|
(0.86
|
)
|
$
|
(0.27
|
)
|
$
|
(1.59
|
)
|
$
|
(1.35
|
)
|
|
Shares
used in per share computation:
|
|||||||||||||
Basic
|
7,082
|
6,995
|
7,044
|
5,261
|
|||||||||
Diluted
|
7,082
|
6,995
|
7,044
|
5,261
|
|||||||||