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Inventories

9 Months Ended

Dec. 31, 2012

Note 4. Inventories

The components of inventories are as follows (in thousands):


	December 31, 2012		March 31, 2012

Raw materials and supplies	$	5,443	$	3,586
Work-in-progress		5,786		4,098
Finished goods		3,759		3,458

	$	14,988	$	11,142

The Company’s inventories relate to its circulatory care product lines, primarily the Impella, AB5000 and BVS 5000 product platforms. Finished goods and work-in-process inventories consist of direct material, labor and overhead. During the nine months ended December 31, 2012 and 2011, the Company recorded $0.9 million and $1.1 million, respectively, in write-downs of inventory.

From time to time, the Company places finished goods inventory on a short-term basis to customers for demonstration purposes and this inventory is amortized over a one to five-year life. The Company had $0.3 million and $0.4 million in demo inventory at December 31, 2012 and March 31, 2012, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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