|
Consolidated Statements of Cash Flows (unaudited) (USD $)
In Thousands, unless otherwise specified
|
3 Months Ended |
|
Jun. 30, 2012
|
Jun. 30, 2011
|
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
| Net income (loss) |
$ 385 |
$ (1,028) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |
|
|
| Amortization of production costs |
907 |
1,141 |
| Depreciation and other amortization |
81 |
147 |
| Amortization of debt discount and deferred financing costs |
50 |
329 |
| Amortization of intangible assets |
171 |
171 |
| Provision for doubtful accounts |
0 |
57 |
| Provision for lower of cost or market inventory write-downs |
105 |
178 |
| Accelerated amortization and fair value write-down of advance royalty and distribution fees |
59 |
222 |
| Change in fair values of stock warrant liability |
0 |
(72) |
| Stock-based compensation expense |
368 |
284 |
| Change in fair value of noncontrolling interest liability |
21 |
(173) |
| Changes in assets and liabilities associated with operating activities: |
|
|
| Accounts receivable |
(7,496) |
8,367 |
| Inventories |
(723) |
(574) |
| Royalty and distribution fee advances |
4,988 |
(2,199) |
| Production cost expenditures |
(893) |
(977) |
| Prepaid expenses and other assets |
(229) |
(472) |
| Accounts payable, accrued royalties, fees and liabilities |
343 |
(1,855) |
| Deferred revenue |
(235) |
(1,014) |
| Net cash provided by (used in) operating activities |
(2,098) |
2,532 |
| CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
| Capital expenditures |
(10) |
(41) |
| Payment to noncontrolling interest holder |
0 |
(60) |
| Net cash used in investing activities |
(10) |
(101) |
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
| Borrowings under revolving credit facility |
14,414 |
11,323 |
| Repayments of borrowings under revolving credit facility |
(12,287) |
(12,725) |
| Repayments of long-term debt |
(121) |
(678) |
| Net cash provided by (used in) financing activities |
2,006 |
(2,080) |
| NET INCREASE (DECREASE) IN CASH: |
(102) |
351 |
| Cash at beginning of period |
368 |
333 |
| Cash at end of period |
266 |
684 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: |
|
|
| Cash paid during the period for interest |
148 |
59 |
| Cash paid during the period for income taxes |
$ 69 |
$ 33 |