Sept
30
|
March
31
|
|||||||
2007
|
2007
|
|||||||
ASSETS
|
||||||||
Current
assets:
|
||||||||
Cash
and cash equivalents
|
$ |
20,348
|
$ |
25,776
|
||||
Accounts
receivable, net of allowances for sales returns and doubtful accounts
of
$230 and $413 at September 30, 2007 and March 31, 2007,
respectively
|
8,056
|
6,634
|
||||||
Inventories,
net
|
11,178
|
5,567
|
||||||
Prepaid
expenses and other current assets
|
1,497
|
991
|
||||||
Total
current assets
|
41,079
|
38,968
|
||||||
Property
and equipment, net
|
1,318
|
1,351
|
||||||
Intangible
assets, net
|
1,026
|
1,161
|
||||||
Other
assets
|
107
|
176
|
||||||
Total
assets
|
$ |
43,530
|
$ |
41,656
|
||||
LIABILITIES
AND STOCKHOLDERS’ EQUITY
|
||||||||
Current
liabilities:
|
||||||||
Notes
payable and bank lines of credit
|
$ |
—
|
$ |
10
|
||||
Accounts
payable
|
3,863
|
1,974
|
||||||
Accrued
product warranty
|
1,435
|
1,101
|
||||||
Deferred
revenue
|
1,162
|
1,064
|
||||||
Litigation
suspense
|
18,505
|
19,500
|
||||||
Accrued
expenses and other current liabilities
|
3,228
|
3,590
|
||||||
Total
current liabilities
|
28,193
|
27,239
|
||||||
Total
long term liabilities
|
—
|
—
|
||||||
Total
liabilities
|
28,193
|
27,239
|
||||||
Commitments
and contingencies (Note 7)
|
||||||||
Stockholders’
equity:
|
||||||||
Preferred
stock; $0.01 par value; 5,000,000 shares authorized; none issued
and
outstanding
|
—
|
—
|
||||||
Common
stock; $0.01 par value; 50,000,000 shares authorized; 7,126,912 and
7,106,867 shares
issued and outstanding at September 30, 2007 and March 31, 2007,
respectively
|
71
|
71
|
||||||
Additional
paid-in capital
|
123,281
|
122,473
|
||||||
Accumulated
other comprehensive income (loss)
|
297
|
240
|
||||||
Accumulated
deficit
|
(108,312 | ) | (108,367 | ) | ||||
Total
stockholders’ equity
|
15,337
|
14,417
|
||||||
Total
liabilities and stockholders’ equity
|
$ |
43,530
|
$ |
41,656
|
||||
Three
Months Ended
September
30,
|
Six
Months Ended
September
30,
|
|||||||||||||||
2007
|
2006
|
2007
|
2006
|
|||||||||||||
Revenue
|
$ |
10,800
|
$ |
5,113
|
$ |
15,398
|
$ |
11,689
|
||||||||
Cost
of sales
|
6,560
|
2,713
|
9,537
|
6,791
|
||||||||||||
Gross
profit
|
4,240
|
2,400
|
5,861
|
4,898
|
||||||||||||
Operating
expenses:
|
||||||||||||||||
Research
and development expenses
|
1,057
|
1,066
|
1,835
|
2,062
|
||||||||||||
Sales
and marketing expenses
|
1,279
|
964
|
2,285
|
2,008
|
||||||||||||
General
and administrative expenses
|
1,448
|
3,485
|
2,651
|
5,787
|
||||||||||||
Total
operating expenses
|
3,784
|
5,515
|
6,771
|
9,857
|
||||||||||||
Operating
loss
|
456
|
(3,115 | ) | (910 | ) | (4,959 | ) | |||||||||
Other
income (expense), net
|
237
|
(166 | ) |
964
|
(124 | ) | ||||||||||
Net
loss
|
$ |
693
|
$ | (3,281 | ) | $ |
54
|
$ | (5,083 | ) | ||||||
Net
loss per share, basic and diluted
|
$ |
0.10
|
$ | (0.47 | ) | $ |
0.01
|
$ | (0.72 | ) | ||||||
Shares
used in per share computation:
|
||||||||||||||||
Basic
|
7,119
|
7,045
|
7,111
|
7,029
|
||||||||||||
Diluted
|
7,276
|
7,045
|
7,217
|
7,029
|