Concentrations and credit risk

12 Months Ended

Mar. 31, 2016

Accounting Policies [Abstract]

Concentrations and credit risk

16 Concentrations and credit risk

The Company operates principally in the PRC (including Hong Kong) and grants credit to its customers in this geographic region.  Although the PRC is economically stable, it is always possible that unanticipated events in foreign countries could disrupt the Company’s operations.

Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and trade  receivables.  The Company does not require collateral to support financial instruments that are subject to credit risk.

At March 31, 2015 and 2016, the Company had credit risk exposure of uninsured cash and deposits with maturities of less than one year in banks of approximately $3,027,000 and $3,547,000, respectively.

A substantial portion, 45%, 37% and 59% of revenue, was generated from sales to one customer for the years ended March 31, 2014, 2015 and 2016, respectively.

The net sales to customers representing at least 10% of net total sales are as follows:

	Year Ended March 31,
	2014				2015				2016
	$ in thousands		%		$ in thousands		%		$ in thousands		%
Sunbeam Products, Inc.		14,080		45		6,879		24		1,738		7
Fitbit, Inc.		10,396		33		10,593		37		14,145		59
Kern + Sohn GMBH		2,762		9		5,424		19		3,874		16
		27,238		87		22,896		80		19,757		82

The following customers had balances greater than 10% of the total trade receivables at the respective balance sheet dates set forth below:

	March 31,
	2015				2016
	$ in thousands		%		$ in thousands		%
Sunbeam Products, Inc.		101		8		87		10
Fitbit, Inc.		324		25		378		41
Kern + Sohn GMBH		224		17		204		22
Pitney Bowes Inc.		355		27		145		16
				77				89

At March 31, 2015 and 2016, these customers accounted for 77% and 89%, respectively, of net trade receivables.  The trade receivables have repayment terms of not more than twelve months.