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Borrowings

9 Months Ended

Dec. 31, 2012

NOTE 8 — BORROWINGS

Short-term Borrowings

Letters of Credit — The Company uses Hang Seng Bank to issue letters of credit on behalf of the Company, as needed, on a 100% cash collateralized basis. At December 31, 2012, the Company had outstanding letters of credit totaling $102,000. A like amount of cash, which was posted by the Company as collateral against these outstanding letters of credit, at December 31, 2012, has been classified by the Company as Restricted Cash on the balance sheet.

Long-term Borrowings

At December 31, 2012 and March 31, 2012, borrowings under long-term facilities consisted of the following (in thousands):


	December 31, 2012			March 31, 2012
	(Unaudited)
Capitalized lease obligations		83			136
Less current maturities		(42	)		(64	)

Long term debt	$	41		$	72

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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