Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
(Mark One)
x |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended December 31, 2015
or
o |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
Commission File Number: 001-15957
Capstone Turbine Corporation
(Exact name of registrant as specified in its charter)
Delaware |
|
95-4180883 |
(State or other jurisdiction of incorporation or organization) |
|
(I.R.S. Employer Identification No.) |
|
|
|
21211 Nordhoff Street, Chatsworth, California (Address of principal executive offices) |
|
91311 (Zip Code) |
818-734-5300
(Registrants telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act.
Large accelerated filer o |
|
Accelerated filer x |
|
|
|
Non-accelerated filer o |
|
Smaller reporting company o |
(Do not check if a smaller reporting company) |
|
|
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x
The number of shares outstanding of the registrants common stock as of January 29, 2016 was 20,920,876.
Table of Contents
PART I FINANCIAL INFORMATION
Item 1. Financial Statements
CAPSTONE TURBINE CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share amounts)
(Unaudited)
|
|
December 31, |
|
March 31, |
|
|
|
2015 |
|
2015 |
|
ASSETS |
|
|
|
|
|
Current Assets: |
|
|
|
|
|
Cash and cash equivalents |
|
$ |
13,470 |
|
$ |
32,221 |
|
Restricted cash |
|
5,000 |
|
|
|
Accounts receivable, net of allowances of $10,593 at December 31, 2015 and $11,041 at March 31, 2015 |
|
13,851 |
|
13,120 |
|
Inventories |
|
20,431 |
|
23,097 |
|
Prepaid expenses and other current assets |
|
2,941 |
|
3,063 |
|
Total current assets |
|
55,693 |
|
71,501 |
|
Property, plant and equipment, net |
|
3,854 |
|
3,523 |
|
Non-current portion of inventories |
|
2,287 |
|
2,258 |
|
Intangible assets, net |
|
1,132 |
|
1,337 |
|
Other assets |
|
281 |
|
308 |
|
Total |
|
$ |
63,247 |
|
$ |
78,927 |
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS EQUITY |
|
|
|
|
|
|
|
|
|
|
|
Current Liabilities: |
|
|
|
|
|
Accounts payable and accrued expenses |
|
$ |
21,351 |
|
$ |
22,266 |
|
Accrued salaries and wages |
|
1,679 |
|
2,113 |
|
Accrued warranty reserve |
|
2,200 |
|
3,183 |
|
Deferred revenue |
|
3,958 |
|
3,051 |
|
Revolving credit facility |
|
9,600 |
|
12,953 |
|
Current portion of notes payable and capital lease obligations |
|
540 |
|
407 |
|
Total current liabilities |
|
39,328 |
|
43,973 |
|
Long-term portion of notes payable and capital lease obligations |
|
77 |
|
89 |
|
Other long-term liabilities |
|
184 |
|
161 |
|
Commitments and contingencies (Note 15) |
|
|
|
|
|
Stockholders Equity: |
|
|
|
|
|
Preferred stock, $.001 par value; 10,000,000 shares authorized; none issued |
|
|
|
|
|
Common stock, $.001 par value; 515,000,000 shares authorized; 19,767,772 shares issued and 19,663,666 shares outstanding at December 31, 2015; 16,589,848 shares issued and 16,527,054 shares outstanding at March 31, 2015 |
|
354 |
|
332 |
|
Additional paid-in capital |
|
846,557 |
|
837,650 |
|
Accumulated deficit |
|
(821,636 |
) |
(801,764 |
) |
Treasury stock, at cost; 104,106 at December 31, 2015 and 62,794 shares at March 31, 2015 |
|
(1,617 |
) |
(1,514 |
) |
Total stockholders equity |
|
23,658 |
|
34,704 |
|
Total |
|
$ |
63,247 |
|
$ |
78,927 |
|
See accompanying notes to condensed consolidated financial statements.
3
Table of Contents
CAPSTONE TURBINE CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
|
December 31, |
|
December 31, |
|
|
|
2015 |
|
2014 |
|
2015 |
|
2014 |
|
Revenue: |
|
|
|
|
|
|
|
|
|
Product, accessories and parts |
|
$ |
18,239 |
|
$ |
26,919 |
|
$ |
57,074 |
|
$ |
77,682 |
|
Service |
|
3,220 |
|
3,165 |
|
9,270 |
|
7,910 |
|
Total revenues |
|
21,459 |
|
30,084 |
|
66,344 |
|
85,592 |
|
Cost of goods sold: |
|
|
|
|
|
|
|
|
|
Product, accessories and parts |
|
14,979 |
|
21,859 |
|
48,039 |
|
64,560 |
|
Service |
|
2,429 |
|
2,119 |
|
7,641 |
|
6,267 |
|
Total cost of goods sold |
|
17,408 |
|
23,978 |
|
55,680 |
|
70,827 |
|
Gross margin |
|
4,051 |
|
6,106 |
|
10,664 |
|
14,765 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
Research and development |
|
2,905 |
|
2,355 |
|
8,193 |
|
6,737 |
|
Selling, general and administrative |
|
7,002 |
|
7,508 |
|
21,796 |
|
24,815 |
|
Total operating expenses |
|
9,907 |
|
9,863 |
|
29,989 |
|
31,552 |
|
Loss from operations |
|
(5,856 |
) |
(3,757 |
) |
(19,325 |
) |
(16,787 |
) |
Other (expense) income |
|
|
|
(31 |
) |
(38 |
) |
50 |
|
Interest expense |
|
(159 |
) |
(134 |
) |
(506 |
) |
(421 |
) |
Loss before income taxes |
|
(6,015 |
) |
(3,922 |
) |
(19,869 |
) |
(17,158 |
) |
Provision for income taxes |
|
|
|
13 |
|
3 |
|
77 |
|
Net loss |
|
$ |
(6,015 |
) |
$ |
(3,935 |
) |
$ |
(19,872 |
) |
$ |
(17,235 |
) |
|
|
|
|
|
|
|
|
|
|
Net loss per common sharebasic and diluted |
|
$ |
(0.34 |
) |
$ |
(0.24 |
) |
$ |
(1.17 |
) |
$ |
(1.05 |
) |
|
|
|
|
|
|
|
|
|
|
Weighted average shares used to calculate net loss per common share |
|
17,824 |
|
16,512 |
|
16,975 |
|
16,366 |
|
See accompanying notes to condensed consolidated financial statements.
4
Table of Contents
CAPSTONE TURBINE CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
|
|
Nine Months Ended |
|
|
|
December 31, |
|
|
|
2015 |
|
2014 |
|
Cash Flows from Operating Activities: |
|
|
|
|
|
Net loss |
|
$ |
(19,872 |
) |
$ |
(17,235 |
) |
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
Depreciation and amortization |
|
1,206 |
|
1,321 |
|
Amortization of deferred financing costs |
|
129 |
|
158 |
|
Accounts receivable allowances |
|
(176 |
) |
3,101 |
|
Inventory provision |
|
898 |
|
1,119 |
|
Provision for warranty expenses |
|
266 |
|
2,210 |
|
Loss on disposal of equipment |
|
10 |
|
4 |
|
Stock-based compensation |
|
1,504 |
|
1,795 |
|
Changes in operating assets and liabilities: |
|
|
|
|
|
Accounts receivable |
|
(555 |
) |
3,338 |
|
Inventories |
|
1,739 |
|
(7,521 |
) |
Prepaid expenses and other current assets |
|
4 |
|
(1,180 |
) |
Accounts payable and accrued expenses |
|
(248 |
) |
(4,732 |
) |
Accrued salaries and wages and long term liabilities |
|
(411 |
) |
(366 |
) |
Accrued warranty reserve |
|
(1,249 |
) |
(2,378 |
) |
Deferred revenue |
|
907 |
|
3,939 |
|
Net cash used in operating activities |
|
(15,848 |
) |
(16,427 |
) |
Cash Flows from Investing Activities: |
|
|
|
|
|
Expenditures for property and equipment |
|
(1,437 |
) |
(1,162 |
) |
Net cash used in investing activities |
|
(1,437 |
) |
(1,162 |
) |
Cash Flows from Financing Activities: |
|
|
|
|
|
Net proceeds from (repayments of) revolving credit facility |
|
(3,353 |
) |
1,117 |
|
Changes in restricted cash |
|
(5,000 |
) |
|
|
Repayment of notes payable and capital lease obligations |
|
(435 |
) |
(405 |
) |
Net cash (used in) provided by employee stock-based transactions |
|
(90 |
) |
136 |
|
Net proceeds from issuance of common stock at-the-market offering program |
|
7,412 |
|
|
|
Net proceeds from issuance of common stock |
|
|
|
29,772 |
|
Net cash (used in) provided by financing activities |
|
(1,466 |
) |
30,620 |
|
Net (decrease) increase in Cash and Cash Equivalents |
|
(18,751 |
) |
13,031 |
|
Cash and Cash Equivalents, Beginning of Period |
|
32,221 |
|
27,859 |
|
Cash and Cash Equivalents, End of Period |
|
$ |
13,470 |
|
$ |
40,890 |
|
Supplemental Disclosures of Cash Flow Information: |
|
|
|
|
|
Cash paid during the period for: |
|
|
|
|
|
Interest |
|
$ |
371 |
|
$ |
263 |
|
Income taxes |
|
$ |
5 |
|
$ |
86 |
|
Supplemental Disclosures of Non-Cash Information: |
|
|
|
|
|
Acquisition of property and equipment through accounts payable |
|
$ |
43 |
|
$ |
58 |
|
Renewal of insurance contracts which was financed by notes payable |
|
$ |
477 |
|
$ |
447 |
|
Acquisition of property and equipment in consideration for the issuance of a note payable |
|
$ |
101 |
|
$ |
418 |
|
See accompanying notes to condensed consolidated financial statements.
5
Table of Contents
CAPSTONE TURBINE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
1. Business and Organization
Capstone Turbine Corporation (Capstone or the Company) develops, manufactures, markets and services microturbine technology solutions for use in stationary distributed power generation applications, including cogeneration (combined heat and power (CHP), and combined cooling, heat and power (CCHP)), renewable energy, natural resources, critical power supply, transportation and marine. In addition, the Companys microturbines can be used as battery charging generators for hybrid electric vehicle applications. The Company was organized in 1988 and has been producing its microturbine generators commercially since 1998.
The Company has incurred significant operating losses since its inception. Management anticipates incurring additional losses until the Company can produce sufficient revenue and gross profit to cover its operating costs. To date, the Company has funded its activities primarily through private and public equity offerings.
2. Basis of Presentation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (generally accepted accounting principles or GAAP) for interim financial information and the instructions to Form 10-Q and Regulation S-X promulgated under the Securities Exchange Act of 1934, as amended (the Exchange Act). They do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The condensed consolidated balance sheet at March 31, 2015 was derived from audited financial statements included in the Companys Annual Report on Form 10-K for the year ended March 31, 2015. In the opinion of management, the interim condensed consolidated financial statements include all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the financial condition, results of operations and cash flows for such periods. Results of operations for any interim period are not necessarily indicative of results for any other interim period or for the full year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Companys Annual Report on Form 10-K for the year ended March 31, 2015. This Quarterly Report on Form 10-Q (this Form 10-Q) refers to the Companys fiscal years ending March 31 as its Fiscal years.
The condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company continues to be negatively impacted by the continuing softness of the global oil and gas markets, a substantially stronger U.S. dollar (making our products more expensive overseas) and ongoing geopolitical tensions in Russia, North Africa and the Middle East. The Companys net loss from operations for the third quarter of Fiscal 2016 was $5.9 million. The Companys cash and cash equivalents as of December 31, 2015 and March 31, 2015 were $13.5 million ($18.5 million when combined with restricted cash related to the line of credit (the Credit Facility) with Wells Fargo Bank, National Association (Wells Fargo) and $32.2 million, respectively. See Note 11Revolving Credit Facility for discussion of the Credit Facility. Cash and cash equivalents and restricted cash, less the amount outstanding under the Credit Facility, was $8.9 million and $19.3 million as of December 31, 2015 and March 31, 2015, respectively. Although the Company realized working capital improvements during the third quarter of Fiscal 2016 because of a reduction in finished goods inventory, the Companys working capital requirements for the nine months ended December 31, 2015 were higher than planned, primarily as a result of lower than expected revenue, slower collection of accounts receivable and lower than anticipated inventory turns.
Management believes that the Company will make progress on its path to profitability by improving its net loss from operations by lowering its operating costs and the continued development of other geographical and vertical markets. In addition, management has the ability to manage certain operating assets and liabilities, specifically the procurement of inventory and timing of payments of accounts payable, capital expenditures and certain operating expenses depending on the results of its operations to preserve its cash and cash equivalents. Additionally, the Company has an at-the-market offering program in place pursuant to which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock. See Note 9 Underwritten and Registered Direct Placement of Common Stock for disclosure with respect to the at-the-market offering program. Management also believes that the Company will maintain compliance with the covenants contained in the amended Credit Facility agreements through the end of Fiscal 2016. If a covenant violation were to occur, the Company would attempt to negotiate a waiver of non-compliance from Wells Fargo.
If the Company is unable to manage its cash flows in the areas discussed above, the Company may need to raise additional capital in the near term. The Company may seek to raise funds by selling additional securities (through the at-the-market offering discussed above or some other offering) to the public or to selected investors or by obtaining additional debt financing.
6
Table of Contents
There is no assurance that the Company will be able to obtain additional funds on commercially favorable terms or at all. If the Company raises additional funds by issuing additional equity or convertible debt securities, the fully diluted ownership percentages of existing stockholders will be reduced. In addition, any equity or debt securities that the Company would issue may have rights, preferences or privileges senior to those of the holders of its common stock. Should the Company be unable to execute its plans (including raising funds through the at-the-market offering program and maintaining availability under its Credit Facility) or obtain additional financing that may be needed, the Company may need to significantly reduce its operations or it may be unable to continue as a going concern. The unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties.
On November 6, 2015, the Company filed a Certificate of Amendment to its Second Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect a 1-for-20 reverse stock split of the issued and outstanding shares of the Companys common stock, par value $0.001 per share, effective as of 4:30 p.m. Eastern Standard Time on the filing date. For purposes of presentation, all share and per share information and instruments outstanding under stock plans contained in this report on Form 10-Q has been retroactively adjusted to reflect the reverse stock split.
The condensed consolidated financial statements include the accounts of the Company, Capstone Turbine Singapore, Pte. Ltd., its wholly owned subsidiary that was formed in February 2011, and Capstone Turbine International, Inc., its wholly owned subsidiary that was formed in June 2004, after elimination of inter-company transactions.
3. Recently Issued Accounting Standards
In July 2015, the Financial Accounting Standards Board (the FASB) issued Accounting Standards Update (ASU) 2015-11, Simplifying the Measurement of Inventory. ASU 2015-11 requires inventory that is recorded using the first-in, first-out method to be measured at the lower of cost or net realizable value. ASU 2015-11 is effective for annual and interim periods beginning after December 15, 2016, and should be applied prospectively with early adoption permitted at the beginning of an interim or annual reporting period. The Company is currently evaluating the potential impact the new standard will have on our financial position and results of operations.
In April 2015, the FASB issued ASU 2015-03, Interest Imputation of Interest (Subtopic 835-30). The ASU was issued as part of FASBs current plan to simplify overly complex standards. This ASU requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The recognition and measurement guidance for debt issuance costs are not affected by this ASU. The update requires retrospective application to all prior period amounts presented. This update is effective for annual and interim periods beginning on or after December 15, 2015, with early application permitted for financial statements that have not been issued. The adoption of this standard would result in the reclassification of debt issuance costs from prepaid expenses and other current assets to the amount outstanding under the Credit Facility. The net amount of such costs at December 31, 2015 was approximately $0.1 million.
In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties About an Entitys Ability to Continue as a Going Concern (ASU 2014-15). ASU 2014-15 requires management to perform interim and annual assessments of an entitys ability to continue as a going concern within one year of the date the financial statements are issued and provides guidance on determining when and how to disclose going concern uncertainties in the financial statements. Certain disclosures will be required if conditions give rise to substantial doubt about an entitys ability to continue as a going concern. ASU 2014-15 applies to all entities and is effective for annual and interim reporting periods ending after December 15, 2016, with early adoption permitted. The Company is evaluating the potential impacts the new standard will have on its reporting process.
In June 2014, the FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (ASU 2014-12). ASU 2014-12 requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. ASU 2014-12 is effective for annual reporting periods beginning after December 15, 2015, with early adoption permitted. The Company is evaluating the potential impacts of the new standard on its existing stock-based compensation plans.
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (ASU 2014-09). ASU 2014-09 supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The standards core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The Company is evaluating its existing revenue recognition policies to determine whether any contracts in the scope of the guidance will be affected by the new requirements. The Company will be required to adopt the revenue recognition standard in annual reporting periods beginning after December 15, 2017 (fiscal year ending March 31, 2019) and interim periods within those annual periods.
7
Table of Contents
4. Customer Concentrations and Accounts Receivable
Sales to E-Finity Distributed Generation, LLC (E-Finity), one of the Companys domestic distributors, Critchfield Pacific Incorporated, one of the Companys domestic distributors, Horizon Power Systems (Horizon), one of the Companys domestic distributors, and Dtc Soluciones Inmobiliarias S.A. de C.V. (DTC), one of the Companys Mexican distributors, accounted for 17%, 13%, 12% and 10%, respectively, of revenue for the three months ended December 31, 2015. Sales to Horizon, DTC and Optimal Group Australia Pty Ltd (Optimal), one of the Companys Australian distributors, accounted for 17%, 12% and 11%, respectively, of revenue for the three months ended December 31, 2014. For the nine months ended December 31, 2015, Horizon, E-Finity and Optimal accounted for 16%, 11% and 10% of revenue, respectively. For the nine months ended December 31, 2014, Horizon, BPC Engineering (BPC), one of the Companys Russian distributors, and E-Finity accounted for 20%, 15% and 10% of revenue, respectively. Additionally, DTC, E-Finity, RSP Systems, one of the Companys domestic distributors, and Serba Dinamik Sdn Bhd, one of the Companys Malaysian distributors, accounted for 19%, 16%, 16% and 11%, respectively, of net accounts receivable as of December 31, 2015. Optimal accounted for 17% of net accounts receivable as of March 31, 2015.
The Company recorded bad debt recovery of $0.2 million for the three and nine months ended December 31, 2015, respectively. The Company recorded bad debt expense of $43,000 and $3.1 million for the three and nine months ended December 31, 2014, respectively.
5. Inventories
Inventories are valued on a first in first out (FIFO) basis and lower of cost or market net of provisions for slow moving, excess, obsolete or otherwise impaired inventories and consisted of the following as of December 31, 2015 and March 31, 2015 (in thousands):
|
|
December 31, 2015 |
|
March 31, 2015 |
|
|
|
|
|
|
|
Raw materials |
|
$ |
20,671 |
|
$ |
19,955 |
|
Work in process |
|
615 |
|
|
|
Finished goods |
|
1,432 |
|
5,400 |
|
Total |
|
22,718 |
|
25,355 |
|
Less non-current portion |
|
(2,287 |
) |
(2,258 |
) |
Current portion |
|
$ |
20,431 |
|
$ |
23,097 |
|
The non-current portion of inventories represents that portion of the inventories in excess of amounts expected to be sold or used in the next twelve months. The non-current inventories are primarily comprised of repair parts for older generation products that are still in operation but are not technologically compatible with current configurations. The weighted average age of the non-current portion of inventories on hand as of December 31, 2015 is 1.8 years. The Company expects to use the non-current portion of the inventories on hand as of December 31, 2015 over the periods presented in the following table (in thousands):
Expected Period of Use |
|
Non-Current Inventory Balance Expected to be Used |
|
|
|
|
|
13 to 24 months |
|
$ |
1,612 |
|
25 to 36 months |
|
566 |
|
37 to 48 months |
|
109 |
|
Total |
|
$ |
2,287 |
|
6. Property, Plant and Equipment
The Company recorded depreciation expense of $0.3 million and $1.0 million for the three and nine months ended December 31, 2015, respectively. The Company recorded depreciation expense of $0.3 million and $0.9 million for the three and nine months ended December 31, 2014, respectively.
8
Table of Contents
Property, plant and equipment consisted of the following (in thousands):
|
|
December 31, 2015 |
|
March 31, 2015 |
|
|
|
|
|
|
|
Machinery, rental equipment, equipment, automobiles and furniture |
|
$ |
19,688 |
|
$ |
20,873 |
|
Leasehold improvements |
|
9,855 |
|
9,760 |
|
Molds and tooling |
|
3,195 |
|
3,722 |
|
|
|
32,738 |
|
34,355 |
|
Less, accumulated depreciation |
|
(28,884 |
) |
(30,832 |
) |
Total property, plant and equipment, net |
|
$ |
3,854 |
|
$ |
3,523 |
|
7. Intangible Assets
The Company recorded amortization expense of $0.1 million and $0.2 million for the three and nine months ended December 31, 2015, respectively. The Company recorded amortization expense of $0.1 million and $0.4 million for the three and nine months ended December 31, 2014, respectively. Intangible assets consisted of the following (in thousands):
|
|
December 31, 2015 |
|
|
|
Weighted Average Amortization Period |
|
Intangible Assets, Gross |
|
Accumulated Amortization |
|
Intangible Assets, Net |
|
Manufacturing license |
|
17 years |
|
$ |
3,700 |
|
$ |
3,622 |
|
$ |
78 |
|
Technology |
|
10 years |
|
2,240 |
|
1,325 |
|
915 |
|
Parts and service customer relationships |
|
5 years |
|
1,080 |
|
1,080 |
|
|
|
TA100 customer relationships |
|
2 years |
|
617 |
|
617 |
|
|
|
Backlog |
|
Various |
|
490 |
|
351 |
|
139 |
|
Trade name |
|
1.2 years |
|
69 |
|
69 |
|
|
|
Total |
|
|
|
$ |
8,196 |
|
$ |
7,064 |
|
$ |
1,132 |
|
|
|
March 31, 2015 |
|
|
|
Weighted Average Amortization Period |
|
Intangible Assets, Gross |
|
Accumulated Amortization |
|
Intangible Assets, Net |
|
Manufacturing license |
|
17 years |
|
$ |
3,700 |
|
$ |
3,585 |
|
$ |
115 |
|
Technology |
|
10 years |
|
2,240 |
|
1,157 |
|
1,083 |
|
Parts and service customer relationships |
|
5 years |
|
1,080 |
|
1,080 |
|
|
|
TA100 customer relationships |
|
2 years |
|
617 |
|
617 |
|
|
|
Backlog |
|
Various |
|
490 |
|
351 |
|
139 |
|
Trade name |
|
1.2 years |
|
69 |
|
69 |
|
|
|
Total |
|
|
|
$ |
8,196 |
|
$ |
6,859 |
|
$ |
1,337 |
|
Expected future amortization expense of intangible assets as of December 31, 2015 is as follows (in thousands):
Year Ending March 31, |
|
Amortization Expense |
|
2016 (remainder of fiscal year) |
|
$ |
127 |
|
2017 |
|
352 |
|
2018 |
|
242 |
|
2019 |
|
224 |
|
2020 |
|
187 |
|
Thereafter |
|
|
|
Total expected future amortization |
|
$ |
1,132 |
|
The manufacturing license provides the Company with the ability to manufacture recuperator cores previously purchased from Solar Turbines Incorporated (Solar). The Company is required to pay a per-unit royalty fee over a seventeen-year period for cores manufactured and sold by the Company using the technology. Royalties of approximately $7,200 and $18,100
9
Table of Contents
were earned by Solar for the three months ended December 31, 2015 and 2014, respectively. Royalties of approximately $26,400 and $51,800 were earned by Solar for the nine months ended December 31, 2015 and 2014, respectively. Earned royalties of approximately $26,400 and $19,300 were unpaid as of December 31, 2015 and March 31, 2015, respectively, and are included in accounts payable and accrued expenses in the accompanying balance sheets.
8. Stock-Based Compensation
The following table summarizes, by statement of operations line item, stock-based compensation expense for the three and nine months ended December 31, 2015 (in thousands):
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
|
December 31, |
|
December 31, |
|
|
|
2015 |
|
2014 |
|
2015 |
|
2014 |
|
Cost of goods sold |
|
$ |
63 |
|
$ |
33 |
|
$ |
132 |
|
$ |
85 |
|
Research and development |
|
47 |
|
84 |
|
56 |
|
244 |
|
Selling, general and administrative |
|
546 |
|
454 |
|
1,316 |
|
1,466 |
|
Stock-based compensation expense |
|
$ |
656 |
|
$ |
571 |
|
$ |
1,504 |
|
$ |
1,795 |
|
Stock Plans
2000 Equity Incentive Plan
In June 2000, the Company adopted the 2000 Equity Incentive Plan (2000 Plan). The 2000 Plan provides for a total maximum aggregate number of shares which may be issued of 1,849,000 shares. The 2000 Plan is administered by the Compensation Committee designated by the Board of Directors. The Compensation Committees authority includes determining the number of incentive awards and vesting provisions. In August 2015, the Board of Directors adopted and the shareholders approved an amendment and restatement of the 2000 Plan. The amendment and restatement includes an increase of 450,000 shares of common stock that will be available under the 2000 Plan. As of December 31, 2015, there were 215,018 shares available for future grant under the 2000 Plan.
Stock Options
The Company issues stock options under the 2000 Plan to employees, non-employee directors and consultants that vest and become exercisable over a four-year period and expire 10 years after the grant date. The Company uses a Black-Scholes valuation model to estimate the fair value of the options at the grant date, and compensation cost is recorded on a straight-line basis over the vesting period. Stock based compensation expense is based on awards that are ultimately expected to vest and accordingly, stock based compensation recognized is reduced by estimated forfeitures. Managements estimate of forfeitures is based on historical forfeitures. All options are subject to the following vesting provisions: one-fourth vest one year after the issuance date and 1/48th vest on the first day of each full month thereafter, so that all options will be vested on the first day of the 48th month after the grant date. Information relating to stock options for the nine months ended December 31, 2015 is as follows:
|
|
Shares |
|
Weighted Average Exercise Price |
|
Weighted- Average Remaining Contractual Term (in years) |
|
Aggregate Intrinsic Value |
|
Options outstanding at March 31, 2015 |
|
658,171 |
|
$ |
25.57 |
|
|
|
|
|
Granted |
|
29,225 |
|
12.80 |
|
|
|
|
|
Exercised |
|
|
|
|
|
|
|
|
|
Forfeited, cancelled or expired |
|
(151,257 |
) |
34.72 |
|
|
|
|
|
Options outstanding at December 31, 2015 |
|
536,139 |
|
$ |
22.29 |
|
4.3 |
|
$ |
|
|
|
|
|
|
|
|
|
|
|
|
Options fully vested at December 31, 2015 and those expected to vest beyond December 31, 2015 |
|
536,139 |
|
$ |
22.29 |
|
4.3 |
|
$ |
|
|
|
|
|
|
|
|
|
|
|
|
Options exercisable at December 31, 2015 |
|
452,593 |
|
$ |
22.73 |
|
3.5 |
|
$ |
|
|
10
Table of Contents
Black-Scholes Model Valuation Assumptions
There were no stock options granted during either of the three months ended December 31, 2015 and 2014. The Company calculated the estimated fair value of each stock option granted during the nine months ended December 31, 2015 and 2014 on the date of grant using the Black-Scholes option-pricing model and the following weighted-average assumptions:
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
|
December 31, |
|
December 31, |
|
|
|
2015 |
|
2014 |
|
2015 |
|
2014 |
|
Risk-free interest rates |
|
|
|
|
|
1.5 |
% |
1.8 |
% |
Expected lives (in years) |
|
|
|
|
|
5.7 |
|
5.7 |
|
Dividend yield |
|
|
|
|
|
|
% |
|
% |
Expected volatility |
|
|
|
|
|
59.0 |
% |
77.0 |
% |
Weighted average grant date fair value of options granted during the period |
|
|
|
|
|
$ |
6.84 |
|
$ |
18.79 |
|
|
|
|
|
|
|
|
|
|
|
|
|
The Companys computation of expected volatility for the three and nine months ended December 31, 2015 and 2014 was based on historical volatility. The expected life, or term, of options granted is derived from historical exercise behavior and represents the period of time that stock option awards are expected to be outstanding. Management has selected a risk-free rate based on the implied yield available on U.S. Treasury Securities with a maturity equivalent to the options expected term.
The following table provides additional information on stock options for the three and nine months ended December 31, 2015 and 2014:
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
|
December 31, |
|
December 31, |
|
|
|
2015 |
|
2014 |
|
2015 |
|
2014 |
|
Stock option compensation expense (in thousands) |
|
$ |
135 |
|
$ |
239 |
|
$ |
409 |
|
$ |
834 |
|
Cash received for exercise price (in thousands) |
|
$ |
|
|
$ |
7 |
|
$ |
|
|
$ |
302 |
|
Intrinsic value (in thousands) |
|
$ |
|
|
$ |
1 |
|
$ |
|
|
$ |
129 |
|
Weighted average grant date fair value of options exercised during the period |
|
$ |
|
|
$ |
15.20 |
|
$ |
|
|
$ |
26.75 |
|
As of December 31, 2015, there was approximately $0.9 million of total compensation cost related to unvested stock option awards that is expected to be recognized as expense over a weighted average period of 2.3 years.
Restricted Stock Units and Performance Restricted Stock Units
The Company issues restricted stock units under the 2000 Plan to employees, non-employee directors and consultants. The restricted stock units are valued based on the closing price of the Companys common stock on the date of issuance, and compensation cost is recorded on a straight-line basis over the vesting period. The related compensation expense recognized is reduced by estimated forfeitures. The Companys estimate of forfeitures is based on historical forfeitures. The restricted stock units vest in equal installments over a period of four years. For restricted stock units with four year vesting, one-fourth vest annually beginning one year after the issuance date. The restricted stock units issued to non-employee directors vest one year after the issuance date. The following table outlines the restricted stock and performance restricted stock unit (PRSU) activity:
|
|
Shares |
|
Weighted Average Grant-Date Fair Value |
|
Nonvested restricted stock units outstanding at March 31, 2015 |
|
93,383 |
|
$ |
23.76 |
|
|
|
|
|
|
|
Granted |
|
234,046 |
|
3.86 |
|
Vested and issued |
|
(36,098 |
) |
24.47 |
|
Forfeited |
|
(17,034 |
) |
21.39 |
|
|
|
|
|
|
|
Nonvested restricted stock units outstanding at December 31, 2015 |
|
274,297 |
|
$ |
6.83 |
|
Restricted stock units expected to vest beyond December 31, 2015 |
|
274,286 |
|
$ |
6.83 |
|
11
Table of Contents
The following table provides additional information on restricted stock units for the three and nine months ended December 31, 2015 and 2014:
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
|
December 31, |
|
December 31, |
|
|
|
2015 |
|
2014 |
|
2015 |
|
2014 |
|
Restricted stock units compensation expense (in thousands) |
|
$ |
204 |
|
$ |
303 |
|
$ |
715 |
|
$ |
873 |
|
Aggregate fair value of restricted stock units vested and issued (in thousands) |
|
$ |
4 |
|
$ |
28 |
|
$ |
344 |
|
$ |
1,184 |
|
Weighted average grant date fair value of restricted stock units granted during the period |
|
$ |
1.19 |
|
$ |
19.60 |
|
$ |
3.34 |
|
$ |
27.43 |
|
As of December 31, 2015, there was approximately $1.3 million of total compensation cost related to unvested restricted stock units that is expected to be recognized as expense over a weighted average period of 3.0 years.
PRSU activity is included in the above restricted stock units tables. The PRSU Program has a three-year performance measurement period. The performance measurement period will begin on April 1 of the first fiscal year and end on March 31 of the third fiscal year. The program is intended to have overlapping performance measurement periods (e.g., a new three year cycle begins each year on April 1), subject to Compensation Committee approval. The Chief Executive Officer is the only participant for Fiscal 2016 and Fiscal 2015. At the end of each performance measurement period, the Compensation Committee will determine the achievement against the performance objectives. Any earned PRSU awards will vest 50% after the end of the applicable performance measurement period and 50% one year thereafter.
During the first quarter of each of Fiscal 2016 and Fiscal 2015, the Company granted a total of 10,000 PRSUs to the Chief Executive Officer. The weighted average per share grant date fair value of PRSUs granted during the first quarter of Fiscal 2016 and 2015 was $15.50 and $31.20, respectively. Based on the Companys assessment as of March 31, 2015, the PRSU threshold for the first performance measurement of the PRSUs granted in Fiscal 2015 likely will not be met and, as a result, the Chief Executive Officer PRSU awards were adjusted and no compensation expense was recorded or recognized during Fiscal 2015. Any compensation expense will be recognized over the corresponding requisite service period and will be adjusted in subsequent reporting periods if the Companys assessment of the probable level of achievement of the performance goals changes. The Company will continue to periodically assess the likelihood of the PRSU threshold being met until the end of the applicable performance period.
Restricted Stock Awards
The Company issues restricted stock awards under the 2000 Plan to employees and non-employee directors. During the three and nine months ended December 31, 2015 the Company granted stock awards in lieu of cash to employees for variable compensation. During the three and nine months ended December 31, 2015 and 2014 the Company granted stock awards to non-employee directors who elected to take payment of all or any part of the directors fees in stock in lieu of cash. The following table outlines the restricted stock awards activity for the three and nine months ended December 31, 2015 and 2014:
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
|
December 31, |
|
December 31, |
|
|
|
2015 |
|
2014 |
|
2015 |
|
2014 |
|
Restricted stock awards compensation expense (in thousands) |
|
$ |
317 |
|
$ |
29 |
|
$ |
380 |
|
$ |
88 |
|
Restricted stock awards granted |
|
255,912 |
|
1,814 |
|
263,594 |
|
3,956 |
|
Weighted average grant date fair value of restricted stock awards granted during the period |
|
$ |
1.24 |
|
$ |
16.20 |
|
$ |
1.44 |
|
$ |
22.28 |
|
For each term of the Board of Directors (beginning on the date of an annual meeting of stockholders and ending on the date immediately preceding the next annual meeting of stockholders), a non-employee director may elect to receive a stock award in lieu of all or any portion of their annual retainer or committee fee cash payment. The shares of stock were valued based on the closing price of the Companys common stock on the date of grant.
Grants outside of 2000 Plan
As of December 31, 2015, the Company had outstanding 155,000 non-qualified common stock options and 2,343 restricted stock units issued outside of the 2000 Plan. The Company granted 12,500 of these stock options during Fiscal 2015, 142,500 of these stock options prior to Fiscal 2015 and 2,343 of these restricted stock units during Fiscal 2015 as inducement grants to new officers and employees of the Company, with exercise prices equal to the fair market value of the Companys common stock on the grant date.
12
Table of Contents
Outside of 2000 Plan |
|
Options |
|
RSUs |
|
Executive Vice President and Chief Executive Officer |
|
100,000 |
|
|
|
Executive Vice President of Sales and Marketing |
|
42,500 |
|
|
|
Vice President of Operations |
|
12,500 |
|
2,343 |
|
Outstanding stock outside of 2000 Plan |
|
155,000 |
|
2,343 |
|
Although the options and restricted stock units were not granted under the 2000 Plan, they are governed by terms and conditions identical to those under the 2000 Plan. All options are subject to the following vesting provisions: one-fourth vest one year after the issuance date and 1/48th vest on the first day of each full month thereafter, so that all options will be vested on the first day of the 48th month after the grant date. All outstanding options have a contractual term of ten years. The restricted stock units vest in equal installments over a period of four years.
Stockholder Rights Plan
The Company has entered into a rights agreement (as amended, the Rights Agreement) with Computershare Inc., successor-in-interest to Mellon Investor Services LLC, as rights agent. In connection with the Rights Agreement, the Companys board of directors authorized and declared a dividend distribution of one preferred stock purchase right for each share of the Companys common stock authorized and outstanding. Each right entitles the registered holder to purchase from the Company a unit consisting of one one-hundredth of a share of Series A Junior Participating Preferred Stock, par value $0.001 per share, at a purchase price of $10.00 per unit, subject to adjustment. The description and terms of the rights are set forth in the Rights Agreement. Initially, the rights are attached to all common stock certificates representing shares then outstanding, and no separate rights certificates are distributed. Subject to certain exceptions specified in the Rights Agreement, the rights will separate from the common stock and will be exercisable upon the earlier of (i) 10 days following a public announcement that a person or group of affiliated or associated persons has acquired, or obtained the right to acquire, beneficial ownership of 20% or more of the outstanding shares of common stock, other than as a result of repurchases of stock by the Company or certain inadvertent actions by institutional or certain other stockholders, or (ii) 10 days (or such later date as the Companys Board of Directors shall determine) following the commencement of a tender offer or exchange offer (other than certain permitted offers described in the Rights Agreement) that would result in a person or group beneficially owning 20% or more of the outstanding shares of the Companys common stock.
On July 1, 2014, the Companys Board of Directors unanimously approved a third amendment to the Rights Agreement pursuant to a sunset provision, which was approved by the stockholders at the 2014 annual meeting of stockholders. The third amendment amends the Rights Agreement to provide that the rights will expire on the 30th day after the 2017 annual meeting of stockholders unless continuation of the Rights Agreement is approved by the stockholders at that meeting. On August 5, 2014, the Company entered into a fourth amendment to the Rights Agreement. The fourth amendment amends the Rights Agreement to clarify that the term of the Rights Agreement may not be continued or extended unless and until such amendment has received the approval of the stockholders of the Company at an annual or special meeting of the stockholders held prior to the termination of the Rights Agreement without taking into account such amendment.
The Rights Agreement is intended to protect the Companys stockholders in the event of an unfair or coercive offer to acquire the Company. Management believes the Rights Agreement, however, should not affect any prospective offeror willing to make an offer at a fair price and otherwise in the best interests of the Company and its stockholders, as determined by the Board of Directors. Also, management believes the Rights Agreement should not interfere with any merger or other business combination approved by the Board of Directors.
9. Underwritten and Registered Direct Placement of Common Stock
Effective May 6, 2014, the Company completed an underwritten public offering in which it sold 0.9 million shares of the Companys common stock at a price of $34.00 per share less underwriting discounts and commissions. The shares were allocated to a single institutional investor. The net proceeds to the Company from the sale of the Common Stock, after deducting fees and other offering expenses, were approximately $29.8 million.
Effective August 28, 2015, the Company entered into a sales agreement with respect to an at-the-market offering program pursuant to which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock, having an aggregate offering price of up to $30.0 million. The Company will set the parameters for sales of the shares, including the number to be sold, the time period during which sales are requested to be made, any limitation on the number that may be sold in one trading day and any minimum price below which sales may not be made. As of December 31, 2015, 2.8 million shares of the Companys common stock were sold and the net proceeds to the Company from the sale of the common stock, after deducting fees and other offering expenses, were approximately $7.4 million.
13
Table of Contents
10. Fair Value Measurements
The FASB has established a framework for measuring fair value using generally accepted accounting principles. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy are described as follows:
Level 1. Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets.
Level 2. Inputs to the valuation methodology include:
· Quoted prices for similar assets or liabilities in active markets
· Quoted prices for identical or similar assets or liabilities in inactive markets
· Inputs other than quoted prices that are observable for the asset or liability
· Inputs that are derived principally from or corroborated by observable market data by correlation or other means
If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability.
Level 3. Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
The asset or liabilitys fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used must maximize the use of observable inputs and minimize the use of unobservable inputs.
The table below presents our assets and liabilities that are measured at fair value on a recurring basis at December 31, 2015 and are categorized using the fair value hierarchy (in thousands):
|
|
Fair Value Measurements at December 31, 2015 |
|
|
|
Total |
|
Quoted Prices in Active Markets for Identical Assets (Level 1) |
|
Significant Other Observable Inputs (Level 2) |
|
Significant Unobservable Inputs (Level 3) |
|
Cash Equivalents |
|
$ |
5,001 |
|
$ |
5,001 |
|
$ |
|
|
$ |
|
|
Restricted Cash |
|
$ |
5,000 |
|
$ |
5,000 |
|
$ |
|
|
$ |
|
|
Cash equivalents include cash held in money market and U.S. treasury funds at December 31, 2015.
The table below presents our assets and liabilities that are measured at fair value on a recurring basis during the fiscal year ended March 31, 2015 and are categorized using the fair value hierarchy (in thousands):
|
|
Fair Value Measurements at March 31, 2015 |
|
|
|
Total |
|
Quoted Prices in Active Markets for Identical Assets (Level 1) |
|
Quoted Prices in Active Markets for Identical Assets (Level 2) |
|
Significant Unobservable Inputs (Level 3) |
|
Cash Equivalents |
|
$ |
13,737 |
|
$ |
13,737 |
|
$ |
|
|
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basis for Valuation
The carrying values reported in the consolidated balance sheets for cash and cash equivalents, restricted cash, accounts receivable and accounts payable approximate fair values because of the immediate or short-term maturities of these financial instruments. As the Companys obligations under the Credit Facility are based on adjustable market rates reflective of what would currently be available to the Company, the Company has determined that the carrying value approximates the fair value. The carrying values and estimated fair values of these obligations are as follows (in thousands):
|
|
As of |
|
As of |
|
|
|
December 31, 2015 |
|
March 31, 2015 |
|
|
|
Carrying |
|
Estimated |
|
Carrying |
|
Estimated |
|
|
|
Value |
|
Fair Value |
|
Value |
|
Fair Value |
|
Obligations under credit facility |
|
$ |
9,600 |
|
$ |
9,600 |
|
$ |
12,953 |
|
$ |
12,953 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14
Table of Contents
11. Revolving Credit Facility
The Company maintains two Credit and Security Agreements, as amended (the Agreements), with Wells Fargo, which provide the Company with a line of credit of up to $20.0 million in the aggregate. As previously disclosed, the twelfth amendment to the Agreements provided the Company the right, under certain circumstances, to increase the borrowing capacity available under the Companys revolving lines of credit to an aggregate maximum of $20.0 million from an aggregate maximum of $15.0 million (the Accordion Feature). In addition, Wells Fargo has provided the Company with a non-revolving capital expenditure line of credit up to $0.5 million to acquire additional eligible equipment for use in the Companys business. Effective as of June 30, 2015, the Company exercised the Accordion Feature, thereby increasing the maximum borrowing capacity available to a maximum of $20.0 million. The amount actually available to the Company may be less and may vary from time to time depending on, among other factors, the amount of its eligible accounts receivable and inventory. As security for the payment and performance of the Credit Facility, the Company granted a security interest in favor of Wells Fargo in substantially all of the assets of the Company. One of the Agreements will terminate in accordance with its terms on September 1, 2017 and the other one will terminate on September 30, 2017.
The Agreements include affirmative covenants as well as negative covenants that prohibit a variety of actions without Wells Fargos consent, including covenants that limit the Companys ability to (a) incur or guarantee debt, (b) create liens, (c) enter into any merger, recapitalization or similar transaction or purchase all or substantially all of the assets or stock of another entity, (d) pay dividends on, or purchase, acquire, redeem or retire shares of, the Companys capital stock, (e) sell, assign, transfer or otherwise dispose of all or substantially all of the Companys assets, (f) change the Companys accounting method or (g) enter into a different line of business. Furthermore, the Agreements contain financial covenants, including (i) a requirement not to exceed specified levels of losses, (ii) a requirement to maintain a substantial minimum cash balance relative to the outstanding line of credit advances, which was $8.2 million as of December 31, 2015, and (iii) limitations on the Companys annual capital expenditures. The Agreements also define an event of default to include a material adverse effect on the Companys business, as determined by Wells Fargo. An event of default for this or any other reason, if not waived, would have a material adverse effect on the Company.
Several times since entering into the Agreements the Company was not in compliance with certain covenants under the Credit Facility. In connection with each event of noncompliance, Wells Fargo waived the event of default and, on several occasions, the Company amended the Agreements in response to the default and waiver. The following summarizes the recent events, amendments and waivers:
· As of March 31, 2015, the Company determined that it was not in compliance with the financial covenant contained in the amended Agreements regarding the Companys annual net income for Fiscal 2015. On June 10, 2015, the Company received from Wells Fargo a waiver of such noncompliance, and the Company and Wells Fargo entered into an amendment to the Agreements which set the financial covenants for Fiscal 2016. As a condition of the amended Agreements, the Company has restricted $5.0 million of cash equivalents effective June 10, 2015 as additional security for the Credit Facility.
· As of September 30, 2015, the Company determined that it was not in compliance with a financial covenant contained in the amended Agreements regarding the Companys net income for six months ended September 30, 2015. On November 2, 2015, the Company received from Wells Fargo a waiver of such noncompliance and entered into an amendment to amend the financial covenants regarding net income for the remainder of Fiscal 2016.
If the Company had not obtained the waivers and amended the Agreements as described above, the Company would not have been able to draw additional funds under the Credit Facility. In addition, the Company has pledged its accounts receivables, inventories, equipment, patents and other assets as collateral for its Agreements, which would be subject to seizure by Wells Fargo if the Company were in default under the Agreements and unable to repay the indebtedness. Wells Fargo also has the option to terminate the Agreements or accelerate the indebtedness during a period of noncompliance. Based on the Companys current forecasts, the Company believes it will maintain compliance with the covenants contained in the amended Agreements through the end of Fiscal 2016. If a covenant violation were to occur, the Company would attempt to negotiate a waiver of non-compliance from Wells Fargo.
The Company is required to maintain a Wells Fargo collection account for cash receipts on all of its accounts receivable. These amounts are immediately applied to reduce the outstanding amount on the Credit Facility. The floating rate for line of credit advances is the sum of daily three month London InterBank Offer Rate (LIBOR), which interest rate shall change whenever daily three month LIBOR changes, plus applicable margin. Based on the revolving nature of the Companys borrowings and payments, the Company classifies all outstanding amounts as current liabilities. The applicable margin varies
15
Table of Contents
based on net income and the minimum interest floor is set at $66,000 each calendar quarter. The Companys borrowing rate was 4.4% and 4.0% at December 31, 2015 and March 31, 2015, respectively.
The Company is required to pay an annual unused line fee of one-quarter of one percent of the daily average of the maximum line amount and 1.5% interest with respect to each letter of credit issued by Wells Fargo. These amounts, if any, are also recorded as interest expense by the Company. As of December 31, 2015 and March 31, 2015, $9.6 million and $13.0 million in borrowings were outstanding, respectively, under the Credit Facility. As of December 31, 2015, approximately $9.4 million was available for additional borrowing. Interest expense related to the Credit Facility during the three months ended December 31, 2015 was $0.2 million, which includes $43,800 in amortization of deferred financing costs. Interest expense related to the Credit Facility during the three months ended December 31, 2014 was $0.1 million, which includes $47,000 in amortization of deferred financing costs. Interest expense related to the Credit Facility during the nine months ended December 31, 2015 was $0.5 million, which includes $0.1 million in amortization of deferred financing costs. Interest expense related to the Credit Facility during the nine months ended December 31, 2014 was $0.4 million, which includes $0.2 million in amortization of deferred financing costs.
12. Accrued Warranty Reserve
The Company provides for the estimated costs of warranties at the time revenue is recognized. The specific terms and conditions of those warranties vary depending upon the microturbine product sold and geography of sale. The Companys product warranties generally start from the delivery date and continue for up to eighteen months. Factors that affect the Companys warranty obligation include product failure rates, anticipated hours of product operations and costs of repair or replacement in correcting product failures. These factors are estimates that may change based on new information that becomes available each period. Similarly, the Company also accrues the estimated costs to address reliability repairs on products no longer in warranty when, in the Companys judgment, and in accordance with a specific plan developed by the Company, it is prudent to provide such repairs. The Company assesses the adequacy of recorded warranty liabilities quarterly and makes adjustments to the liability as necessary. When the Company has sufficient evidence that product changes are altering the historical failure occurrence rates, the impact of such changes is then taken into account in estimating future warranty liabilities.
Changes in accrued warranty reserve during the nine months ended December 31, 2015 are as follows (in thousands):
Balance, beginning of the period |
|
$ |
3,183 |
|
Standard warranty provision |
|
282 |
|
Changes for accrual related to reliability repair programs |
|
(16 |
) |
Deductions for warranty claims |
|
(1,249 |
) |
Balance, end of the period |
|
$ |
2,200 |
|
13. Deferred Revenue
Changes in deferred revenue during the nine months ended December 31, 2015 are as follows (in thousands):
FPP Balance, beginning of the period |
|
$ |
2,491 |
|
FPP Billings |
|
8,507 |
|
FPP Revenue recognized |
|
(8,262 |
) |
Balance attributed to FPP contracts |
|
2,736 |
|
Deposits |
|
1,222 |
|
Deferred revenue balance, end of the period |
|
$ |
3,958 |
|
Comprehensive Factory Protection Plan (FPP) deferred revenue represents the unearned portion of our billed agreements. FPP agreements are generally paid quarterly in advance with revenue recognized on a straight line basis over the contract period. Deposits are primarily non-refundable cash payments from distributors for future orders.
14. Other Current Liabilities
The Company is a party to a Development and License Agreement with Carrier Corporation (Carrier) regarding the payment of royalties on the sale of each of the Companys 200 kilowatt (C200) microturbines. Carrier earned $0.3 million and $0.4 million in royalties for C200 and C1000 Series system sales during the three months ended December 31, 2015 and 2014, respectively. Carrier earned $0.9 million and $1.2 million in royalties for C200 and C1000 system sales during the nine
16
Table of Contents
months ended December 31, 2015 and 2014, respectively. Earned royalties of approximately $0.3 million and $0.4 million were unpaid as of December 31, 2015 and March 31, 2015, respectively, and are included in accrued expenses in the accompanying balance sheets.
15. Commitments and Contingencies
Purchase Commitments
As of December 31, 2015, the Company had firm commitments to purchase inventories of approximately $24.2 million through Fiscal 2018. Certain inventory delivery dates and related payments are not firmly scheduled; therefore, amounts under these firm purchase commitments will be payable upon the receipt of the related inventories.
Lease Commitments
The Company leases offices and manufacturing facilities under various non-cancelable operating leases expiring at various times through the fiscal year ending March 31, 2020. All of the leases require the Company to pay maintenance, insurance and property taxes. The lease agreements for primary office and manufacturing facilities provide for rent escalation over the lease term and renewal options for five-year periods. Rent expense is recognized on a straight-line basis over the term of the lease. The difference between rent expense recorded and the amount paid is credited or charged to deferred rent, which is included in other long-term liabilities in the accompanying balance sheets. The balance of deferred rent was approximately $0.2 million as of each of December 31, 2015 and March 31, 2015. Rent expense was approximately $0.6 million during each of the three months ended December 31, 2015 and 2014. Rent expense was approximately $1.9 million and $1.8 million during the nine months ended December 31, 2015 and 2014, respectively.
Other Commitments
In September 2010, the Company was awarded a grant from the U.S. Department of Energy (DOE) for the research, development and testing of a more efficient microturbine CHP system. Part of the improved efficiency will come from an improved microturbine design, with a projected electrical efficiency of 42% and power output of 370 kW. The contract was over a five-year period and was completed on September 2015. The project was estimated to cost approximately $11.7 million. The DOE was to contribute $5.0 million toward the project, and the Company was to incur approximately $6.7 million in research and development expense. The Company billed the DOE under the contract for this project a cumulative amount of $4.2 million through September 30, 2015, the date on which the contract was completed.
In May 2014, the Company began working with the DOE through Oak Ridge National Laboratory (ORNL) on an advanced Alumina Forming Austenitic stainless steel material program. ORNL will contribute 100% of the $0.2 million project cost. The contract has a term of 27 months and is expected to be completed by July 31, 2016. The Company billed ORNL a cumulative amount of $0.1 million under the contract for this project through December 31, 2015.
The Company has agreements with certain of its distributors requiring that if the Company renders parts obsolete in inventories the distributors own and hold in support of their obligations to serve fielded microturbines, then the Company is required to replace the affected stock at no cost to the distributors. While the Company has never incurred costs or obligations for these types of replacements, it is possible that future changes in the Companys product technology could result and yield costs to the Company if significant amounts of inventory are held at distributors. As of December 31, 2015, no significant inventories were held at distributors.
Legal Matters
Two putative securities class action complaints were filed against the Company and certain of its current and former officers in the United States District Court for the Central District of California under the following captions: David Kinney, etc. v. Capstone Turbine, et al., No. 2:15-CV-08914 on November 16, 2015 (the Kinney Complaint) and Kevin M. Grooms, etc. v. Capstone Turbine, et al., No. 2:15-CV-09155 on December 18, 2015 (the Grooms Complaint).
The putative class in the Kinney Complaint is comprised of all purchasers of the Companys securities between November 7, 2013 and November 5, 2015. The Kinney Complaint alleges material misrepresentations and omissions in public statements regarding BPC and the likelihood that BPC would not be able to fulfill many legal and financial obligations to the Company. The Kinney Complaint also alleges that the Companys financial statements were not appropriately adjusted in light of this situation, and were not maintained in accordance with GAAP, and that the Company lacked adequate internal controls over accounting. The Kinney Complaint alleges that these public statements and accounting irregularities constituted violations by all named defendants of Section 10(b) of the Exchange Act, and Rule 10b-5 thereunder, as well as violations of Section 20(a) of the Exchange Act by the individual defendants. The Grooms Complaint makes allegations and claims that are substantially identical to those in the Kinney Complaint, and both complaints seek compensatory damages of an undisclosed amount. On January 16, 2016, several shareholders filed motions to consolidate the Kinney and Grooms actions and for appointment as lead plaintiff. The Court has not yet issued a decision on those motions. The Company has not recorded any liability as of December 31, 2015 since any potential loss is not probable or reasonably estimable given the preliminary nature of the proceedings.
16. Net Loss Per Common Share
Basic loss per share of common stock is computed using the weighted average number of common shares outstanding for the period. Diluted loss per share is computed without consideration to potentially dilutive instruments because the Company incurred losses in the three months ended December 31, 2015 which would make these instruments anti-dilutive. As of December 31, 2015 and 2014, the number of anti-dilutive stock options and restricted stock units excluded from diluted net loss per common share computations was approximately 0.8 million and 0.7 million, respectively.
17
Table of Contents
Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
The following discussion should be read in conjunction with the condensed consolidated financial statements and notes included in this Form 10-Q and in our Annual Report on Form 10-K for the year ended March 31, 2015. When used in this Form 10-Q, and in the following discussion, the words believes, anticipates, intends, expects and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those projected. These risks include those under Risk Factors in our Annual Report on Form 10-K for Fiscal 2015 and in other reports we file with the SEC. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We assume no obligation to update any of the forward-looking statements contained herein after the filing of this Form 10-Q to conform such statements to actual results or changes in expectations except as may be required by law. All dollar amounts are approximate.
Overview
Capstone is the market leader in microturbines based on the number of microturbines sold. Generally, power purchased from the electric utility grid is less costly than power produced by distributed generation technologies. Utilities may also charge fees to interconnect to their power grids. However, we can provide economic benefits to end users in instances where the waste heat from our microturbine has value (combined heat and power (CHP) and combined cooling, heat and power (CCHP)), where fuel costs are low (renewable energy/renewable fuels), where the costs of connecting to the grid may be high or impractical (such as remote power applications), where reliability and power quality are of critical importance, or in situations where peak shaving could be economically advantageous because of highly variable electricity prices. Because Capstone microturbines can provide a reliable source of power and can operate on multiple fuel sources, management believes they offer a level of flexibility not currently offered by other technologies such as reciprocating engines.
During the third quarter of Fiscal 2016 our net loss increased by 54% to $6.0 million and our net loss per share increased by 42% to $0.34 compared to the prior year period. Our gross margin was 19% for the third quarter of Fiscal 2016, which represents a decrease of approximately 100 basis points from our gross margin of 20% for the third quarter of Fiscal 2015 despite 29% lower revenue in the third quarter of Fiscal 2016 compared to the third quarter of Fiscal 2015. Capstone continued to experience a significant slowdown in both product shipments and new order flow during the third quarter of Fiscal 2016 compared to the same period last year. The first nine months of Fiscal 2016 were characterized by lower revenue and megawatts shipped compared to the first nine months of Fiscal 2015 because of the continuing softness of the global oil and gas markets, a substantially stronger U.S. dollar (making our products more expensive overseas) and ongoing geopolitical tensions in Russia, North Africa and the Middle East. Please see Results of Operations on page 24 for further discussion on the lower revenue.
Capstone products continue to gain interest in all six of the major vertical markets (energy efficiency, renewable energy, natural resources, critical power supply, transportation and marine). In the energy efficiency market, we continue to expand our market presence in hotels, office buildings, hospitals, retail and industrial applications globally. The renewable energy market is fueled by landfill gas, biodiesel, and biogas from sources such as food processing, agricultural waste and cow, pig and chicken manure. Our success in the oil and gas and other natural resources market is driven by our microturbines reliability, emissions profile and ease of installation. We have also seen increased interest in critical power supply applications as customers want solutions that can handle both primary and backup power. Capstones transportation market, which utilizes microturbines for the electric vehicle industry, is gaining interest as liquid natural gas becomes more readily available as a transportation fuel and emission regulations continue to be tightened on the diesel engine industry.
We continue to focus on improving our products based on customer input, building brand awareness and new channels to market by developing a diversified network of strategic distribution partners. Our focus is on products and solutions that provide near-term opportunities to drive repeatable business rather than discrete projects for niche markets. In addition, management closely manages operating expenses and strives to improve manufacturing efficiencies while simultaneously lowering direct material costs and increasing average selling prices. The key drivers to Capstones success are continued revenue growth, higher average selling prices, lower direct material costs, positive new order flow and reduced cash usage.
To support our opportunities to grow in our targeted markets, we continue to enhance the reliability and performance of our products by regularly developing new processes and enhancing training to assist those who apply, install and use our products.
An overview of our direction, targets and key initiatives follows:
1. Focus on Vertical Markets Within the distributed generation markets that we serve, we focus on vertical markets that we identify as having the greatest near-term potential. In our primary products and applications (energy efficiency, renewable energy, natural resources, critical power supply, marine and transportation products), we identify specific targeted vertical market segments. Within each of these segments, we identify what we believe to be the critical factors to success and base our plans on those factors.
18
Table of Contents
Energy EfficiencyCHP/CCHP
Energy efficiency maximizes the use of energy produced by the microturbines, reduces emissions compared with traditional power generation and enhances the economic advantage to customers. Energy efficiency applications use both the heat and electric energy produced in the power generation process. Using the heat and electricity created from a single combustion process increases the efficiency of the system from approximately 30% to 75% or more. The increased operating efficiency reduces overall greenhouse gas emissions compared with traditional independent sources such as power generation and local thermal generation and, through displacement of other separate systems, can reduce variable production costs.
Renewable Energy
Our microturbines can use renewable methane gases from landfills, wastewater treatment facilities and biogas from sources such as food processing, agricultural waste and cow, pig and chicken manure. Capstones microturbines can burn these renewable waste gases with minimal emissions, thereby, in some cases, avoiding the imposition of penalties incurred for pollution while simultaneously producing electricity from this free renewable fuel for use at the site or in the surrounding area. Capstones microturbines have demonstrated effectiveness in these applications and outperform conventional combustion engines in a number of situations, including when the gas contains a high amount of sulfur.
Natural ResourcesOil, Natural Gas, Shale Gas & Mining
On a worldwide basis, there are thousands of locations where the drilling, production, compression and transportation of natural resources and other extraction and production processes create fuel byproducts, which traditionally have been released or burned into the atmosphere. Our microturbines are installed in the natural resource market to be used in oil and gas exploration, production, compression and transmission sites both onshore and offshore as a highly reliable critical source of power generation. In addition, our microturbines can use flare gas as a fuel to provide prime power. Typically these oil and gas or mining operations have no access to an electric utility grid and rely solely on Capstones microturbines for a reliable low emission power supply.
Critical Power Supply
Because of the potentially catastrophic consequences of even momentary system failure, certain power users, such as high technology and information systems companies, require particularly high levels of reliability in their power service. Management believes that Capstones critical power supply offerings are the worlds only microturbine powered Uninterruptible Power Source solutions that can offer clean, IT-grade power produced from microturbines, the utility or a combination of both.
Transportation
Our technology is also used in hybrid electric vehicle (HEV) applications. Our customers have applied our products in hybrid electric mobile applications, including transit buses and trucks. In these applications the microturbine acts as an onboard battery charger to recharge the battery system as needed. The benefits of microturbine hybrids include extended range, fuel economy gains, quieter operation, reduced emissions and higher reliability compared with traditional internal combustion engines.
Marine
Our technology is also used in marine applications. Our customers have applied our products in the commercial vessel and luxury yacht markets. The most immediate market for our marine products is for use as ship auxiliaries. In this application, the microturbines provide power to the vessels electrical loads and, in some cases, the vessel is able to utilize the exhaust energy to increase the overall efficiency of the application, reducing overall fuel consumption and emissions. The other application is similar to our HEV application where the vessel is driven by an electric propulsion system and the microturbine serves as an on board range extender.
Backlog
During the three months ended December 31, 2015, we booked total orders of $12.3 million for 49 units, or 13.0 megawatts, compared to $25.7 million for 134 units, or 27.9 megawatts, during the three months ended December 31, 2014. We shipped 52 units with an aggregate of 15.6 megawatts, generating microturbine product revenue of $14.8 million compared to 161 units with an aggregate of 22.6 megawatts, generating microturbine product revenue of $22.5 million during the three months ended December 31, 2014. Total backlog as of December 31, 2015 decreased $73.2 million, or 42%, to $102.3 million from $175.5 million as of December 31, 2014. As of December 31, 2015, we had 576 units, or 105.4 megawatts, in total backlog compared to 857 units, or 192.1 megawatts, at the same date last year.
19
Table of Contents
Ending backlog as of December 31, 2015, includes the removal of approximately $52.4 million for 200 units, or 64.5 megawatts, from BPC Engineering (BPC), one of the Companys Russian distributors. This removal, which occurred during the three months ended September 30, 2015, as a proactive measure to align our backlog to managements expectations because of the current macroeconomic headwinds, such as the continued softness of the global oil and gas market, a substantially stronger U.S. dollar (making our products more expensive overseas) and on-going geopolitical tensions in Russia, as experienced during Fiscal 2015. A significant portion of our backlog is concentrated in the international oil and gas market which may impact the overall timing of shipments or the conversion of backlog to revenue. The timing of the backlog is based on the requirement date indicated by our customers. However, based on historical experience, management expects that a significant portion of our backlog may not be shipped within the next 18 months. The timing of shipments is subject to change based on several variables (including customer deposits, payments, availability of credit and customer delivery schedule changes), most of which are not in our control and can affect the timing of our revenue. Our product shipments during the three months ended December 31, 2015 were: 71% for use in energy efficiency applications, 22% for use in natural resources applications and 7% for use in renewable energy applications. Our product shipments during the nine months ended December 31, 2015 were: 55% for use in energy efficiency applications, 37% for use in natural resources applications and 8% for use in renewable energy applications.
The following table summarizes our backlog:
|
|
As of December 31, |
|
|
|
2015 |
|
2014 |
|
|
|
Megawatts |
|
Units |
|
Megawatts |
|
Units |
|
|
|
|
|
|
|
|
|
|
|
C30 |
|
1.7 |
|
56 |
|
3.6 |
|
120 |
|
C65 |
|
26.0 |
|
401 |
|
35.0 |
|
539 |
|
TA100 |
|
1.9 |
|
19 |
|
1.9 |
|
19 |
|
C200 |
|
2.8 |
|
14 |
|
3.2 |
|
16 |
|
C600 |
|
7.2 |
|
12 |
|
7.8 |
|
13 |
|
C800 |
|
4.8 |
|
6 |
|
9.6 |
|
12 |
|
C1000 |
|
60.0 |
|
60 |
|
130.0 |
|
130 |
|
Waste heat recovery generator |
|
1.0 |
|
8 |
|
1.0 |
|
8 |
|
Total Backlog |
|
105.4 |
|
576 |
|
192.1 |
|
857 |
|
2. Sales and Distribution Channels We seek out distributors that have business experience and capabilities to support our growth plans in our targeted markets. We have a total of 104 distributors and Original Equipment Manufacturers (OEMs). In North America, we currently have 36 distributors and OEMs. Outside of North America, we currently have 68 distributors and OEMs. We continue to refine the distribution channels to address our specific targeted markets.
3. Service We provide service primarily through our global distribution network. Together with our global distribution network, we offer new and remanufactured parts as well as a comprehensive FPP. Through our global distribution network, we offer a comprehensive FPP for a fixed annual fee to perform regularly scheduled and unscheduled maintenance as needed. Capstone provides factory and onsite training to certify all personnel that are allowed to perform service on our microturbines. FPPs are generally paid quarterly in advance. Our FPP backlog as of December 31, 2015 was $64.7 million, which represents the value of the contractual agreement for FPP services that has not been earned and extends through Fiscal 2031. Our FPP backlog as of March 31, 2015 was $61.2 million.
4. Product Robustness and Life Cycle Maintenance Costs We continue to invest in enhancements that relate to high performance and high reliability. An important element of our continued innovation and product strategy is to focus on the engineering of our product hardware and electronics to make them work together more effectively and deliver improved microturbine performance, reliability and low maintenance cost to our customers.
5. New Product Development Our new product development is targeted specifically to meet the needs of our selected vertical markets. We expect that our existing product platforms, the C30, C65, TA100, C200 and C1000 Series microturbines, will be our foundational product lines for the foreseeable future. Our research and development project portfolio is centered on enhancing the features of these base products. We are currently focusing efforts on enhancing our products to improve reliability and reduce direct material costs. During the three months ended September 30, 2015 our C200 and C1000 Series microturbines became Verband der Elektrotechnik (VDE) and Bundesverband der Energie - und Wasserwirtschaft (BDEW) and Comitato Electtrotecnico Italiano (CEI) certified. These new
20
Table of Contents
standards were attained following the development and implementation of new microturbine system software architecture.
We are also developing a more efficient microturbine CHP system with the support of the DOE. We successfully completed the first phase of the development program and achieved 270 kW with a prototype C250 microturbine in our development test lab. Management intends to continue with the next phase of development and commercialization after we achieve profitability. The next phase will be to continue development of the C250 product architecture as well as the associated power electronics and software controls required for successful commercialization. The DOE awarded us a grant of $5.0 million in support of this development program of which $4.2 million was used through September 30, 2015. The contract was completed on September 30, 2015.
In December 2015, we unveiled the Capstone C1000S microturbine, as part of our new Signature Series microturbine energy systems (C1000S). The one-megawatt C1000S microturbine incorporates over 70 component, system and design upgrades intended to improve the overall product quality and enhance the microturbine ownership experience in all applications but specifically for CHP and CCHP applications. A few of the key upgrades includes integrated heat recovery for CHP and CCHP applications, two-stage air filtration system, improved enclosure, relocated engine exhaust stack and redesigned discharge for enclosure cooling air. The C1000S is one of the worlds most integrated and compact 1MW CHP solutions. The 8-foot wide by 30-foot long 1MW power plant reaches approximately 82% total system efficiency and is significantly quieter than the original C1000 Series for installation in low noise urban environments.
6. Cost and Core Competencies We believe that the core competencies of Capstone products are air-bearing technology, advanced combustion technology and sophisticated power electronics to form efficient and ultra-low emission electricity and cooling and heat production systems. Our core intellectual property is contained within our air-bearing technology. We continue to review avenues for cost reduction by sourcing to the best value supply chain option. In order to utilize manufacturing facilities and technology more effectively, we are focused on continuous improvements in manufacturing processes. Additionally, considerable effort is being directed to manufacturing cost reduction through process improvement, product design, advanced manufacturing technology, supply management and logistics. Management expects to be able to leverage our costs as product volumes increase.
Management believes that effective execution in each of these key areas will be necessary to leverage Capstones promising technology and early market leadership into achieving positive cash flow with growing market presence and improving financial performance. Management believes our manufacturing facilities located in Chatsworth and Van Nuys, California have a combined production capacity of approximately 2,000 units per year, depending on product mix. Excluding working capital requirements, management believes we can expand our combined production capacity to approximately 4,000 units per year, depending on product mix, with approximately $10 to $15 million of capital expenditures. We have not committed to this expansion nor identified a source for its funding.
Critical Accounting Policies and Estimates
The preparation of our condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses. Management believes the most complex and sensitive judgments, because of their significance to the condensed consolidated financial statements, result primarily from the need to make estimates about the effects of matters that are inherently uncertain. Actual results could differ from managements estimates. Management believes the critical accounting policies listed below affect our more significant accounting judgments and estimates used in the preparation of the condensed consolidated financial statements. These policies are described in greater detail in our Annual Report on Form 10-K for Fiscal 2015 and continue to include the following areas:
· Impairment of long-lived assets, including intangible assets with finite lives;
· Inventory write-downs and classification of inventories;
· Estimates of warranty obligations;
· Accounts receivable allowances;
· Deferred tax assets and valuation allowance; and
· Stock-based compensation expense.
21
Table of Contents
Results of Operations
Three Months Ended December 31, 2015 and 2014
Revenue Revenue for the three months ended December 31, 2015 decreased $8.6 million, or 29%, to $21.5 million from $30.1 million for the three months ended December 31, 2014. The change in revenue for the three months ended December 31, 2015 compared to the three months ended December 31, 2014 included decreases in revenue of approximately $3.0 million from the European market, $3.0 million from the Australian market, $2.7 million from the Asian market and $1.1 million from the North American market. The decreases in the North American and Australian markets were because of volume reductions in microturbines shipped, resulting from continued headwinds in the oil and gas market and a shift in customers project timelines. The decreases in the European and Asian markets were primarily the result of ongoing geopolitical tensions in Russia and Ukraine and a substantially stronger U.S. dollar (making our products more expensive overseas) compared to the three months ended December 31, 2014. This overall decrease in revenue was offset by an increase in revenue of $1.2 million from the South American market. The increase in the South American market during the three months ended December 31, 2015 compared to the same period last year was primarily the result of our continuing efforts to improve and expand our maturing distribution channel to better serve our customers.
For the three months ended December 31, 2015, revenue from microturbine products decreased $7.7 million, or 34%, to $14.8 million from $22.5 million for the three months ended December 31, 2014. Megawatts shipped during the three months ended December 31, 2015 decreased 7.0 megawatts, or 31%, to 15.6 megawatts from 22.6 megawatts during the three months ended December 31, 2014. The decrease in revenue and megawatts shipped was because of volume reductions in microturbines shipped, resulting from no microturbine product shipments to Russia, continued challenges in the oil and gas market and shifts in customers project timelines during the three months ended December 31, 2015 compared to the same period last year. Average revenue per megawatt shipped was approximately $0.9 million and $1.0 million during the three months ended December 31, 2015 and 2014, respectively.
The following table provides additional information on our shipments (revenue amounts in millions):
|
|
Three Months Ended December 31, |
|
|
|
2015 |
|
2014 |
|
|
|
Revenue |
|
Megawatts |
|
Revenue |
|
Megawatts |
|
North America |
|
$ |
11.3 |
|
12.4 |
|
$ |
11.8 |
|
11.4 |
|
Europe |
|
1.9 |
|
1.9 |
|
4.4 |
|
5.2 |
|
Asia |
|
0.5 |
|
0.4 |
|
5.9 |
|
5.7 |
|
Australia |
|
|
|
|
|
0.3 |
|
0.2 |
|
South America |
|
1.1 |
|
0.9 |
|
0.1 |
|
0.1 |
|
Total from Microturbine Products |
|
$ |
14.8 |
|
15.6 |
|
$ |
22.5 |
|
22.6 |
|
The timing of shipments is subject to change based on several variables (including customer deposits, payments, availability of credit and delivery schedule changes), most of which are not within our control and can affect the timing of our revenue.
The following table summarizes our revenue (revenue amounts in millions):
|
|
Three Months Ended December 31, |
|
|
|
2015 |
|
2014 |
|
|
|
Revenue |
|
Megawatts |
|
Units |
|
Revenue |
|
Megawatts |
|
Units |
|
C30 |
|
$ |
0.4 |
|
0.2 |
|
8 |
|
$ |
1.5 |
|
1.0 |
|
32 |
|
C65 |
|
1.7 |
|
1.6 |
|
24 |
|
7.6 |
|
6.9 |
|
107 |
|
C200 |
|
1.1 |
|
1.0 |
|
5 |
|
2.0 |
|
1.6 |
|
8 |
|
C600 |
|
0.7 |
|
0.6 |
|
1 |
|
|
|
|
|
|
|
C800 |
|
3.5 |
|
4.0 |
|
5 |
|
|
|
|
|
|
|
C1000 |
|
7.1 |
|
8.0 |
|
8 |
|
11.2 |
|
13.0 |
|
13 |
|
Waste heat recovery generator |
|
|
|
|
|
|
|
0.2 |
|
0.1 |
|
1 |
|
Unit upgrades |
|
0.3 |
|
0.2 |
|
1 |
|
|
|
|
|
|
|
Total from Microturbine Products |
|
$ |
14.8 |
|
15.6 |
|
52 |
|
$ |
22.5 |
|
22.6 |
|
161 |
|
Accessories and Parts |
|
3.5 |
|
|
|
|
|
4.4 |
|
|
|
|
|
Total Product, Accessories and Parts |
|
$ |
18.3 |
|
|
|
|
|
$ |
26.9 |
|
|
|
|
|
Service |
|
3.2 |
|
|
|
|
|
3.2 |
|
|
|
|
|
Total |
|
$ |
21.5 |
|
15.6 |
|
52 |
|
$ |
30.1 |
|
22.6 |
|
161 |
|
22
Table of Contents
Accessories and parts revenue for the three months ended December 31, 2015 decreased $0.9 million, or 20%, to $3.5 million from $4.4 million for the three months ended December 31, 2014. The decrease in accessories and parts revenue resulted primarily from volume reductions in microturbines shipped.
Service revenue was $3.2 million for each of the three months ended December 31, 2015 and 2014.
Sales to E-Finity Distributed Generation, LLC (E-Finity), one of the Companys domestic distributors, Critchfield Pacific Incorporated, one of the Companys domestic distributors, Horizon Power Systems (Horizon), one of the Companys domestic distributors, and Dtc Soluciones Inmobiliarias S.A. de C.V. (DTC), one of the Companys Mexican distributors, accounted for 17%, 13%, 12% and 10%, respectively, of revenue for the three months ended December 31, 2015. Sales to Horizon, DTC and Optimal Group Australia Pty Ltd (Optimal), one of the Companys Australian distributors, accounted for 17%, 12% and 11%, respectively, of revenue for the three months ended December 31, 2014.
Gross Margin Cost of goods sold includes direct material costs, production and service center labor and overhead, inventory charges and provision for estimated product warranty expenses. The gross margin was $4.1 million, or 19% of revenue, for the three months ended December 31, 2015 compared to a gross margin of $6.1 million, or 20% of revenue, for the three months ended December 31, 2014. Of the $2.0 million decrease in the gross margin during the three months ended December 31, 2015 compared to the three months ended December 31, 2014, $3.8 million was primarily the result of lower volume of microturbines shipped and a shift in product mix. This reduction in gross margin was partially offset by decreases in production and service center variable manufacturing expenses of $0.9 million, warranty expense of $0.8 million and inventory charges of $0.1 million. Management continues to implement initiatives to improve gross margin by further reducing manufacturing overhead and fixed and direct material costs as we work to achieve profitability and improving product performance.
Production and service center labor and overhead expense decreased $0.9 million during the three months ended December 31, 2015 compared to the three months ended December 31, 2014 as a result of decreases in freight expense of $0.5 million, salaries expense of $0.4 million, supplies expense of $0.3 million, consulting expense of $0.2 million and business travel expense of $0.1 million, offset by lower overhead allocated to finished goods inventory of $0.6 million.
Warranty expense is a combination of a standard warranty provision recorded at the time revenue is recognized and changes, if any, in estimates for reliability repair programs. Reliability repair programs are estimates that are recorded in the period that new information becomes available, including design changes, cost of repair and product enhancements, which can include both in-warranty and out-of-warranty systems. The decrease in warranty expense of $0.8 million reflects a decrease in the standard warranty provision primarily because of a decrease in the number of units covered under warranty as a result of lower volume of microturbines shipped during the three months ended December 31, 2015 compared to the prior year. Management expects warranty expense to decline as a result of lower shipments of microturbine products for the remainder of Fiscal 2016.
Inventory charges decreased approximately $0.1 million during the three months ended December 31, 2015 compared to the three months ended December 31, 2014 primarily as a result of a decrease in charges related to physical inventory adjustments.
Accessories and parts revenue gross margin is included in the gross margin discussion above. Accessories and parts revenue gross margin was $1.6 million, or 47% of revenue, for the three months ended December 31, 2015 compared to accessories and parts revenue gross margin of $1.6 million, or 36% of revenue, for the three months ended December 31, 2014.
Service revenue gross margin is included in the gross margin discussion above. Service revenue gross margin was $0.8 million, or 25% of revenue, for the three months ended December 31, 2015 compared to a service revenue gross margin of $1.0 million, or 31% of revenue, for the three months ended December 31, 2014.
Research and Development (R&D) Expenses R&D expenses include compensation, engineering department expenses, overhead allocations for administration and facilities, and materials costs associated with development. R&D expenses for the three months ended December 31, 2015 increased $0.5 million, or 21%, to $2.9 million from $2.4 million for the three months ended December 31, 2014. R&D expenses are reported net of benefits from cost-sharing programs, such as DOE grants. The overall increase in R&D expenses of approximately $0.5 million resulted from an increase in supplies expense of approximately $0.4 million and a decrease in cost-sharing benefits of $0.1 million. There were no cost-sharing benefits during the three months ended December 31, 2015 and $0.1 million of such benefits during the three months ended December 31, 2014. The cost-sharing contract with the DOE was completed on September 30, 2015. Management expects R&D expenses in Fiscal 2016 to be slightly higher than in Fiscal 2015 as a result of the development of the C1000 Signature Series microturbine and lower benefits from cost-sharing programs as we continue to invest in product robustness and direct material cost reduction initiatives.
23
Table of Contents
Selling, General, and Administrative (SG&A) Expenses SG&A expenses for the three months ended December 31, 2015 decreased approximately $0.5 million, or 7%, to $7.0 million from $7.5 million for the three months ended December 31, 2014. The net decrease in SG&A expenses was comprised of decreases of approximately $0.3 million in business travel expense and $0.2 million in bad debt expenses. During the three months ended December 31, 2015 we recorded bad debt recoveries of approximately $0.2 million with respect to a prior period accounts receivable allowance. Management expects SG&A expenses in Fiscal 2016 to be slightly lower than in Fiscal 2015, primarily as a result of our initiatives to lower expenses in response to lower than expected revenues.
Interest Expense Interest expense for the three months ended December 31, 2015 increased approximately $0.1 million, or 100% to approximately $0.2 million from approximately $0.1 million for the three months ended December 31, 2014. Interest expense is primarily from the average balances outstanding under the Credit Facility (as defined below). As of December 31, 2015, we had total debt of $9.6 million outstanding under the Credit Facility.
Income Taxes There was no income tax expense for the three months ended December 31, 2015. Income tax expense for the three months ended December 31, 2014 was approximately $13,000. The decrease in income tax expense was primarily related to local taxes compared to the three months ended December 31, 2014.
Nine Months Ended December 31, 2015 and 2014
Revenue Revenue for the nine months ended December 31, 2015 decreased $19.3 million, or 23%, to $66.3 million from $85.6 million for the nine months ended December 31, 2014. The change in revenue for the nine months ended December 31, 2015 compared to the nine months ended December 31, 2014 included decreases in revenue of $13.7 million from the European market, $3.9 million from the North American market, $3.1 million from the Asian market and $1.1 million from the African market. The decreases in the European, Asian and African markets were primarily the result of ongoing geopolitical tensions in Russia and Ukraine and a substantially stronger U.S. dollar (making our products more expensive overseas) compared to the nine months ended December 31, 2014. The decrease in the North American market was because of the effects of volume reductions in microturbines shipped, resulting from continued headwinds in the oil and gas market and a shift in customers project timelines. This overall decrease in revenue was offset by an increase in revenue of $1.4 million from the South American market and $1.1 million from the Australian market. The increases in the Australian and South American markets were primarily the result of our continuing efforts to improve and expand our maturing distribution channel to better serve our customers.
For the nine months ended December 31, 2015, revenue from microturbine products decreased $20.2 million, or 30%, to $46.6 million from $66.8 million for the nine months ended December 31, 2014. Megawatts shipped during the nine months ended December 31, 2015 decreased 20.9 megawatts, or 30%, to 48.1 megawatts from 69.0 megawatts during the nine months ended December 31, 2014. The decrease in revenue and megawatts was because of volume reductions in microturbines shipped, resulting from no microturbine product shipments to Russia, continued challenges in the oil and gas market and shift in customers project timelines during the nine months ended December 31, 2015 compared to the same period last year. Average revenue per megawatt shipped was approximately $1.0 million during each of the nine months ended December 31, 2015 and 2014.
The following table provides additional information on our shipments (revenue amounts in millions):
|
|
Nine Months Ended December 31, |
|
|
|
2015 |
|
2014 |
|
|
|
Revenue |
|
Megawatts |
|
Revenue |
|
Megawatts |
|
North America |
|
$ |
29.5 |
|
30.8 |
|
$ |
35.8 |
|
34.4 |
|
Europe |
|
7.5 |
|
7.8 |
|
20.8 |
|
25.1 |
|
Asia |
|
2.6 |
|
2.9 |
|
8.2 |
|
8.0 |
|
Australia |
|
5.0 |
|
4.7 |
|
1.5 |
|
1.1 |
|
South America |
|
1.5 |
|
1.3 |
|
0.3 |
|
0.2 |
|
Africa |
|
0.5 |
|
0.6 |
|
0.2 |
|
0.2 |
|
Total from Microturbine Products |
|
$ |
46.6 |
|
48.1 |
|
$ |
66.8 |
|
69.0 |
|
The timing of shipments is subject to change based on several variables, including customer deposits, payments, availability of credit and delivery schedule changes, most of which are not within our control and can affect the timing of our revenue.
24
Table of Contents
The following table summarizes our revenue (revenue amounts in millions):
|
|
Nine Months Ended December 31, |
|
|
|
2015 |
|
2014 |
|
|
|
Revenue |
|
Megawatts |
|
Units |
|
Revenue |
|
Megawatts |
|
Units |
|
C30 |
|
$ |
1.1 |
|
0.8 |
|
25 |
|
$ |
3.3 |
|
2.0 |
|
66 |
|
C65 |
|
8.9 |
|
8.1 |
|
125 |
|
22.7 |
|
20.5 |
|
315 |
|
TA100 |
|
|
|
|
|
|
|
0.3 |
|
0.2 |
|
2 |
|
C200 |
|
3.2 |
|
3.0 |
|
15 |
|
5.1 |
|
4.6 |
|
23 |
|
C600 |
|
4.3 |
|
4.2 |
|
7 |
|
4.6 |
|
4.8 |
|
8 |
|
C800 |
|
8.1 |
|
8.8 |
|
11 |
|
0.7 |
|
0.8 |
|
1 |
|
C1000 |
|
20.7 |
|
23.0 |
|
23 |
|
29.9 |
|
36.0 |
|
36 |
|
Waste heat recovery generator |
|
|
|
|
|
|
|
0.2 |
|
0.1 |
|
1 |
|
Unit upgrades |
|
0.3 |
|
0.2 |
|
1 |
|
|
|
|
|
|
|
Total from Microturbine Products |
|
$ |
46.6 |
|
48.1 |
|
207 |
|
$ |
66.8 |
|
69.0 |
|
452 |
|
Accessories and Parts |
|
10.4 |
|
|
|
|
|
10.9 |
|
|
|
|
|
Total Product, Accessories and Parts |
|
$ |
57.0 |
|
|
|
|
|
$ |
77.7 |
|
|
|
|
|
Service |
|
9.3 |
|
|
|
|
|
7.9 |
|
|
|
|
|
Total |
|
$ |
66.3 |
|
48.1 |
|
207 |
|
$ |
85.6 |
|
69.0 |
|
452 |
|
For the nine months ended December 31, 2015, revenue from our accessories and parts decreased $0.5 million, or 5%, to $10.4 million from $10.9 million for the nine months ended December 31, 2014. The decrease in revenue from accessories and parts was primarily from lower accessories revenue resulting from volume reductions in microturbines shipped.
Service revenue for the nine months ended December 31, 2015 increased $1.4 million, or 18%, to $9.3 million from $7.9 million for the nine months ended December 31, 2014. The increase in service revenue resulted primarily from higher FPP contract enrollment and microturbine service work.
Horizon, E-Finity and Optimal accounted for 16%, 11% and 10% of revenue, respectively, for the nine months ended December 31, 2015. For the nine months ended December 31, 2014, Horizon, BPC Engineering (BPC), one of the Companys Russian distributors, and E-Finity accounted for 20%, 15% and 10% of revenue, respectively.
Gross Margin The gross margin was $10.7 million, or 16% of revenue, for the nine months ended December 31, 2015 compared to a gross margin of $14.8 million, or 17% of revenue, for the nine months ended December 31, 2014. Of the $4.1 million decrease in the gross margin during the nine months ended December 31, 2015 compared to the nine months ended December 31, 2014, $8.1 million was primarily the result of lower volume of microturbines shipped and shift in product mix. This reduction in gross marginwas partially offset by decreases in warranty expense of $1.9 million, production and service center variable manufacturing expenses of $1.5 million, inventory charges of $0.4 million and royalty expense of $0.2 million. Management continues to implement initiatives to improve gross margin by further reducing manufacturing overhead and fixed and direct material costs as we work to achieve profitability and improving product performance.
Warranty expense is a combination of a standard warranty provision recorded at the time revenue is recognized and changes, if any, in estimates for reliability repair programs. Reliability repair programs are based upon estimates that are recorded in the period that new information becomes available, including design changes, cost of repair and product enhancements, which can include both in-warranty and out-of-warranty systems. The decrease in warranty expense of $1.9 million reflects a decrease in the standard warranty provision primarily because of a decrease in the number of units covered under warranty as a result of the lower volume of microturbines shipped during the nine months ended December 31, 2015 compared to the prior year. Management expects warranty expense to decline as a result of lower shipments of microturbine products for the remainder of Fiscal 2016.
Production and service center labor and overhead expense decreased $1.5 million during the nine months ended December 31, 2015 compared to the nine months ended December 31, 2014 as a result of decreases in freight expense of $0.8 million, salaries expense of $0.5 million, supplies expense of $0.3 million, business travel expense of $0.2 million and consulting expense of $0.1 million, offset by lower overhead allocated to finished goods inventory of $0.4 million.
Inventory charges decreased $0.4 million during the nine months ended December 31, 2015 compared to the nine months ended December 31, 2014 primarily as the result of a decrease in the provision for excess and obsolete inventory.
Royalty expense decreased $0.2 million during the nine months ended December 31, 2015 compared to the nine months ended December 31, 2014 primarily as a result of lower sales of our C1000 Series systems.
25
Table of Contents
Accessories and parts revenue gross margin is included in the gross margin discussion above. Accessories and parts revenue gross margin was $3.8 million, or 37% of revenue, for the nine months ended December 31, 2015 compared to accessories and parts revenue gross margin of $3.9 million, or 36% of revenue, for the nine months ended December 31, 2014.
Service revenue gross margin is included in the gross margin discussion above. Service revenue gross margin was $1.6 million, or 17% of revenue, for the nine months ended December 31, 2015 compared to a service revenue gross margin of $1.7 million, or 20% of revenue, for the nine months ended December 31, 2014.
Research and Development Expenses R&D expenses for the nine months ended December 31, 2015 increased $1.5 million, or 22%, to $8.2 million from $6.7 million for the nine months ended December 31, 2014. R&D expenses are reported net of benefits from cost-sharing programs, such as DOE grants. The overall increase in R&D expenses of approximately $1.5 million resulted from increases in supplies expense of approximately $0.9 million, consulting expense of $0.4 million and a decrease in cost-sharing benefits of $0.3 million. These overall increases were offset by a $0.1 million decrease in salaries expense. There were approximately $0.2 million of cost-sharing benefits for the nine months ended December 31, 2015 and $0.5 million of such benefits for the nine months ended December 31, 2014. The amount of cost-sharing benefits vary from period to period depending on the phase of the programs. The cost-sharing contract with the DOE was completed on September 30, 2015. Management expects R&D expenses in Fiscal 2016 to be slightly higher than in Fiscal 2015 as a result of the development of the C1000 Signature Series microturbine and lower benefits from cost-sharing programs as we continue product robustness and direct material cost reduction initiatives.
Selling, General, and Administrative Expenses SG&A expenses for the nine months ended December 31, 2015 decreased $3.0 million, or 12%, to $21.8 million from $24.8 million for the nine months ended December 31, 2014. The net decrease in SG&A expenses was comprised of decreases of $3.3 million in bad debt expense and $0.4 million in business travel expense, offset by increases of $0.5 million in salaries expense and $0.2 million in consulting expense. The decrease in the bad debt expense was primarily the result of an accounts receivable allowance recorded for a single customer during the nine months ended December 31, 2014. We recorded severance costs of approximately $0.5 million during the three months ended June 30, 2015. The headwinds we faced during Fiscal 2015 led us to flatten our organization, which will lower operating costs after severance expenses. Excluding bad debt expense, management expects SG&A expenses in Fiscal 2016 to be slightly lower than in Fiscal 2015 primarily as a result of our initiatives to lower expenses in response to lower than expected revenues.
Interest Expense Interest expense for the nine months ended December 31, 2015 increased approximately $0.1 million, or 25%, to approximately $0.5 million from approximately $0.4 million for the nine months ended December 31, 2014. Interest expense is primarily from the average balances outstanding under the Credit Facility. As of December 31, 2015, we had total debt of $9.6 million outstanding under the Credit Facility.
Income Taxes Income tax expense for the nine months ended December 31, 2015 was approximately $3,000. Income tax expense for the nine months ended December 31, 2014 was approximately $77,000. The decrease in income tax expense was primarily related to local taxes compared to the nine months ended December 31, 2014.
Liquidity and Capital Resources
Our cash requirements depend on many factors, including the execution of our plan. We expect to continue to devote substantial capital resources to running our business and creating the strategic changes summarized herein. Our planned capital expenditures for Fiscal 2016 include approximately $2.0 million for plant and equipment costs related to manufacturing and operations. As a result of our initiatives to lower expenses in response to lower than expected revenues, management expects to spend approximately $0.4 million less than planned, or approximately $1.6 million, for plant and equipment costs related to manufacturing and operations. We have invested our cash in institutional funds that invest in high quality, short-term money market instruments to provide liquidity for operations and capital preservation.
Our cash and cash equivalents as of December 31, 2015 and March 31, 2015 were $13.5 million ($18.5 million when combined with restricted cash related to the Credit Facility) and $32.2 million, respectively. Our cash and cash equivalents balances decreased $18.8 million during the nine months ended December 31, 2015, compared to an increase of $13.0 million during the nine months ended December 31, 2014. Cash and cash equivalents increased during the nine months ended December 31, 2014 primarily related to proceeds from our May 2014 underwritten public offering.
Operating Activities During the nine months ended December 31, 2015, we used $15.8 million of cash in our operating activities, which consisted of a net loss for the period of $19.8 million, offset by cash provided from working capital of $0.2 million and non-cash adjustments (primarily warranty provision, depreciation and amortization, stock-based compensation and inventory provision) of $3.8 million. During the nine months ended December 31, 2014, operating cash usage was $16.4 million, which consisted of a net loss for the period of $17.2 million and cash used for working capital of $8.9 million, offset by non-cash adjustments of $9.7 million.
26
Table of Contents
The following is a summary of the significant sources (uses) of cash from operating activities (amounts in thousands):
|
|
Nine Months Ended |
|
|
|
December 31, |
|
|
|
2015 |
|
2014 |
|
Net loss |
|
$ |
(19,872 |
) |
$ |
(17,235 |
) |
Non-cash operating activities (1) |
|
3,837 |
|
9,708 |
|
Changes in operating assets and liabilities: |
|
|
|
|
|
Accounts receivable |
|
(555 |
) |
3,338 |
|
Inventories |
|
1,739 |
|
(7,521 |
) |
Accounts payable and accrued expenses |
|
(248 |
) |
(4,732 |
) |
Other changes in operating assets and liabilities |
|
(749 |
) |
15 |
|
Net cash used in operating activities |
|
$ |
(15,848 |
) |
$ |
(16,427 |
) |
(1) Represents warranty provision, depreciation and amortization, stock-based compensation expense, inventory provision and accounts receivable allowances.
The decrease in net cash used in operating activities during the nine months ended December 31, 2015 compared to the nine months ended December 31, 2014 was primarily related to the change in inventories, accounts receivable and accounts payable, offset by an increase in net loss, excluding non-cash operating activities. The change in inventory was primarily the result of lower purchases during the third quarter of Fiscal 2016. The change in accounts receivable was the result of lower than expected revenue and slower collection of accounts receivable. The change in accounts payable and accrued expenses was primarily the result of the timing and level of inventory receipts compared to vendor payments.
Investing Activities Net cash used in investing activities of $1.4 million and $1.2 million during the nine months ended December 31, 2015 and 2014, respectively, relates to the acquisition of fixed assets.
Financing Activities During the nine months ended December 31, 2015, we used approximately $1.5 million in financing activities compared to cash generated during the nine months ended December 31, 2014 of approximately $30.6 million. The funds used in financing activities during the nine months ended December 31, 2015 were primarily the result of cash equivalents restricted by Wells Fargo, net repayments under the Credit Facility and the repayment of notes payable and capital lease obligations, offset by proceeds from the at-the-market offering program described below. Additionally, employee stock purchases, net of repurchases of shares of our common stock for employee taxes due on vesting of restricted stock units, resulted in approximately $0.1 million of net cash used during the nine months ended December 31, 2015, compared with $0.2 million of net cash generated during the nine months ended December 31, 2014. As a condition of the amended Agreements (as defined below) with Wells Fargo, we have restricted $5.0 million of cash equivalents as additional security for the Credit Facility. During the nine months ended December 31, 2014, the funds generated in financing activities were primarily from the proceeds related to our underwritten public offering described below.
Effective May 6, 2014, the Company completed an underwritten public offering in which it sold 0.9 million shares of the Companys common stock at a price of $34.00 per share less underwriting discounts and commissions. The shares were allocated to a single institutional investor. The net proceeds to the Company from the sale of the common stock, after deducting fees and other offering expenses, were approximately $29.8 million.
Effective August 28, 2015, the Company entered into a sales agreement with respect to an at-the-market offering program pursuant to which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock, having an aggregate offering price of up to $30.0 million. The Company will set the parameters for sales of the shares, including the number to be sold, the time period during which sales are requested to be made, any limitation on the number that may be sold in one trading day and any minimum price below which sales may not be made. As of December 31, 2015, 2.8 million shares of the Companys common stock had been sold and the net proceeds to the Company from the sale of the common stock, after deducting fees and other offering expenses, were approximately $7.4 million.
Credit Facility The Company maintains two Credit and Security Agreements, as amended (the Agreements), with Wells Fargo Bank, National Association (Wells Fargo), which provide the Company with a line of credit of up to $20.0 million in the aggregate. As previously disclosed, the twelfth amendment to the Agreements provided the Company the right, under certain circumstances, to increase the borrowing capacity available under the Companys revolving lines of credit to an aggregate maximum of $20.0 million from an aggregate maximum of $15.0 million (the Accordion Feature). In addition,
27
Table of Contents
Wells Fargo has provided the Company with a non-revolving capital expenditure line of credit up to $0.5 million to acquire additional eligible equipment for use in the Companys business. Effective as of June 30, 2015, the Company exercised the Accordion Feature, thereby increasing the maximum borrowing capacity available to a maximum of $20.0 million. The amount actually available to the Company may be less and may vary from time to time depending on, among other factors, the amount of its eligible inventory and accounts receivable. As security for the payment and performance of the Credit Facility, the Company granted a security interest in favor of Wells Fargo in substantially all of the assets of the Company. One of the Agreements will terminate in accordance with its terms on September 1, 2017 and the other one will terminate on September 30, 2017. As of December 31, 2015 and March 31, 2015, $9.6 million and $13.0 million in borrowings were outstanding, respectively, under the Credit Facility.
The Agreements include affirmative covenants as well as negative covenants that prohibit a variety of actions without Wells Fargos consent, including covenants that limit our ability to (a) incur or guarantee debt, (b) create liens, (c) enter into any merger, recapitalization or similar transaction or purchase all or substantially all of the assets or stock of another entity, (d) pay dividends on, or purchase, acquire, redeem or retire shares of, our capital stock, (e) sell, assign, transfer or otherwise dispose of all or substantially all of our assets, (f) change our accounting method or (g) enter into a different line of business. Furthermore, the Agreements contain financial covenants, including (i) a requirement not to exceed specified levels of losses, (ii) a requirement to maintain a substantial minimum monthly cash balance to outstanding line of credit advances based upon the Companys financial performance, and (iii) limitations on our annual capital expenditures.
Several times since entering into the Agreements we were not in compliance with certain covenants under the Credit Facility. In connection with each event of noncompliance, Wells Fargo waived the event of default and, on several occasions, the Company amended the Agreements in response to the default and waiver. The following summarizes the recent events, amendments and waivers:
· As of March 31, 2015, the Company determined that it was not in compliance with the financial covenant contained in the amended Agreements regarding the Companys annual net income for Fiscal 2015. On June 10, 2015, the Company received from Wells Fargo a waiver of such noncompliance, and the Company and Wells Fargo entered into an amendment to the Agreements which set the financial covenants for Fiscal 2016. As a condition of the amended Agreements, the Company has restricted $5.0 million of cash equivalents effective June 10, 2015 as additional security for the Credit Facility.
· As of September 30, 2015, the Company determined that it was not in compliance with a financial covenant contained in the amended Agreements regarding the Companys net income for the six months ended September 30, 2015. On November 2, 2015, the Company received from Wells Fargo a waiver of such noncompliance and entered into an amendment to amend the financial covenants regarding net income for Fiscal 2016.
If we had not obtained the waivers and amended the Agreements as described above, we would not be able to draw additional funds under the Credit Facility. In addition, the Company has pledged its accounts receivables, inventories, equipment, patents and other assets as collateral for its Agreements, which would be subject to seizure by Wells Fargo if the Company were in default under the Agreements and unable to repay the indebtedness. Wells Fargo also has the option to terminate the Agreements or accelerate the indebtedness during a period of noncompliance. Based on our current forecasts, management believes we will maintain compliance with the covenants contained in the amended Agreements through the end of Fiscal 2016. If a covenant violation were to occur, management would attempt to negotiate a waiver of non-compliance from Wells Fargo.
Working Capital Our cash and cash equivalents as of December 31, 2015 and March 31, 2015 were $13.5 million ($18.5 million when combined with restricted cash related to the Credit Facility) and $32.2 million, respectively. Cash and cash equivalents and restricted cash, less the amount outstanding under the Credit Facility, was $8.9 million and $19.3 million as of December 31, 2015 and March 31, 2015, respectively. Our cash and cash equivalents were primarily impacted by cash equivalents restricted by Wells Fargo and by higher than planned working capital requirements during the nine months ended December 31, 2015. Although the Company realized working capital improvements during the third quarter of Fiscal 2016 because of a reduction in finished goods inventory, the Companys working capital requirements for the nine months ended December 31, 2015 were higher than planned; primarily as a result of lower than expected revenue, slower collection of accounts receivable and lower than anticipated inventory turns. We continue to be negatively impacted by the continuing softness of the global oil and gas markets, a substantially stronger U.S. dollar (making our products more expensive overseas) and ongoing geopolitical tensions in Russia, North Africa and the Middle East.
Management has the ability to manage certain operating assets and liabilities, specifically the procurement of inventory and timing of payments of accounts payable, capital expenditures and certain operating expenses depending on the results of its operations to preserve its cash and cash equivalents. Additionally, we have an at-the-market offering program in place pursuant to which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock. Management
28
Table of Contents
also believes that we will maintain compliance with the covenants contained in the amended Credit Facility agreements through the end of Fiscal 2016. If a covenant violation were to occur, the Company would attempt to negotiate a waiver of compliance from Wells Fargo.
If we are unable to manage its cash flows in the areas discussed above, the Company may need to raise additional capital in the near term. We could seek to raise funds by selling additional securities (through the at-the-market offering discussed above or some other offering) to the public or to selected investors, or by obtaining additional debt financing. There is no assurance that we will be able to obtain additional funds on commercially favorable terms, or at all. If the Company raises additional funds by issuing additional equity or convertible debt securities, the fully diluted ownership percentages of existing stockholders will be reduced. In addition, the equity or debt securities that the Company would issue may have rights, preferences or privileges senior to those of the holders of its common stock. Should we be unable to execute our plans (including raising funds through the at-the-market offering program and maintaining availability under our Credit Facility) or obtain additional financing that may be needed, the Company may need to significantly reduce its operations or it may be unable to continue as a going concern. The unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties.
Depending on the timing of our future sales and collection of related receivables, managing inventory costs and the timing of inventory purchases and deliveries required to fulfill the backlog, our future capital requirements may vary materially from those now planned. The amount of capital that we will need in the future will require us to achieve significantly increased sales volume which is dependent on many factors, including:
· the market acceptance of our products and services;
· our business, product and capital expenditure plans;
· capital improvements to new and existing facilities;
· our competitors response to our products and services;
· our relationships with customers, distributors, dealers and project resellers; and
· our customers ability to afford and/or finance our products.
Our accounts receivable balance, net of allowances, was $13.9 and $13.1 million as of December 31, 2015 and March 31, 2015, respectively. Days sales outstanding in accounts receivable (DSO) decreased by 6 days to 59 days at the end of the third quarter of Fiscal 2016 compared to 65 days at the end of the third quarter of Fiscal 2015. The change in DSO was largely the result of lower than expected revenue and slower collection of accounts receivable during the nine months ended December 31, 2015 compared to the nine months ended December 31, 2014. We recorded bad debt recovery of $0.2 million for the three and nine months ended December 31, 2015, respectively. We recorded bad debt expense of $43,000 and $3.1 million for the three and nine months ended December 31, 2014, respectively. The bad debt recovery during the three months ended December 31, 2015 was with respect to Electro Mecanique Industries, one of the Companys distributors in the Middle East and Africa. During the three months ended March 31, 2015, we recorded an accounts receivable allowance of approximately $7.1 million with respect to BPC.
No assurances can be given that future bad debt expense will not increase above current operating levels or that current accounts receivable allowances will be recovered. Increased bad debt expense or delays in collecting accounts receivable could have a material adverse effect on cash flows and results of operations. In addition, our ability to access the capital markets may be severely restricted or made very expensive at a time when we need, or would like, to do so, which could have a material adverse impact on our liquidity and financial resources. Certain industries in which our customers do business and certain geographic areas may have been and could continue to be adversely affected by the current economic environment.
Contractual Obligations and Commercial Commitments
Except for scheduled payments made on operating leases during the nine months ended December 31, 2015, there have been no material changes in our remaining commitments under non-cancelable operating leases disclosed in our Annual Report on Form 10-K for Fiscal 2015.
New Accounting Pronouncements
In July 2015, the Financial Accounting Standards Board (the FASB) issued Accounting Standards Update (ASU) 2015-11, Simplifying the Measurement of Inventory. ASU 2015-11 requires inventory that is recorded using the first-in, first-out method to be measured at the lower of cost or net realizable value. ASU 2015-11 is effective for annual and interim periods beginning after December 15, 2016, and should be applied prospectively with early adoption permitted at the beginning of an
29
Table of Contents
interim or annual reporting period. We are currently evaluating the potential impact the new standard will have on our financial position and results of operations.
In April 2015, the FASB issued ASU 2015-03, Interest Imputation of Interest (Subtopic 835-30). The ASU was issued as part of FASBs current plan to simplify overly complex standards. This ASU requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The recognition and measurement guidance for debt issuance costs are not affected by this ASU. The update requires retrospective application to all prior period amounts presented. This update is effective for annual and interim periods beginning on or after December 15, 2015, with early application permitted for financial statements that have not been issued. The adoption of this standard would result in the reclassification of debt issuance costs from prepaid expenses and other current assets to the amount outstanding under the Credit Facility. The net amount of such costs at December 31, 2015 was approximately $0.1 million.
In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties About an Entitys Ability to Continue as a Going Concern (ASU 2014-15). ASU 2014-15 requires management to perform interim and annual assessments of an entitys ability to continue as a going concern within one year of the date the financial statements are issued and provides guidance on determining when and how to disclose going concern uncertainties in the financial statements. Certain disclosures will be required if conditions give rise to substantial doubt about an entitys ability to continue as a going concern. ASU 2014-15 applies to all entities and is effective for annual and interim reporting periods ending after December 15, 2016, with early adoption permitted. We are currently evaluating the potential impacts the new standard will have on our reporting process.
In June 2014, the FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (ASU 2014-12). ASU 2014-12 requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. ASU 2014-12 is effective for annual reporting periods beginning after December 15, 2015, with early adoption permitted. We are evaluating the potential impacts of the new standard on our existing stock-based compensation plans.
In May 2014, FASB issued ASU 2014-09, Revenue from Contracts with Customers (ASU 2014-09). ASU 2014-09 supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The standards core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. We are evaluating our existing revenue recognition policies to determine whether any contracts in the scope of the guidance will be affected by the new requirements. We will be required to adopt the revenue recognition standard in annual reporting periods beginning after December 15, 2017 (fiscal year ending March 31, 2019), and interim periods within those annual periods.
Item 3. Quantitative and Qualitative Disclosures About Market Risk
No material changes have occurred in the quantitative and qualitative market risk disclosure of the Company as presented in its Annual Report on Form 10-K for Fiscal 2015.
Item 4. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
Under the supervision and with the participation of our management, including the Chief Executive Officer and Chief Financial Officer, we have evaluated the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the Exchange Act), as of the end of the period covered by this report. Based upon that evaluation, our Chief Executive Officer and our Chief Financial Officer concluded that, as of the end of the period covered by this report, our disclosure controls and procedures are effective. The term disclosure controls and procedures means controls and other procedures of the Company that are designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within required time periods. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.
Changes in Internal Control Over Financial Reporting
There was no change in the Companys internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the Companys most recently completed fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Companys internal control over financial reporting.
30
Table of Contents
PART II OTHER INFORMATION
Item 1. Legal Proceedings
Two putative securities class action complaints were filed against the Company and certain of its current and former officers in the United States District Court for the Central District of California under the following captions: David Kinney, etc. v. Capstone Turbine, et al., No. 2:15-CV-08914 on November 16, 2015 (the Kinney Complaint) and Kevin M. Grooms, etc. v. Capstone Turbine, et al., No. 2:15-CV-09155 on December 18, 2015 (the Grooms Complaint).
The putative class in the Kinney Complaint is comprised of all purchasers of the Companys securities between November 7, 2013 and November 5, 2015. The Kinney Complaint alleges material misrepresentations and omissions in public statements regarding BPC and the likelihood that BPC would not be able to fulfill many legal and financial obligations to the Company. The Kinney Complaint also alleges that the Companys financial statements were not appropriately adjusted in light of this situation, and were not maintained in accordance with GAAP, and that the Company lacked adequate internal controls over accounting. The Kinney Complaint alleges that these public statements and accounting irregularities constituted violations by all named defendants of Section 10(b) of the Exchange Act, and Rule 10b-5 thereunder, as well as violations of Section 20(a) of the Exchange Act by the individual defendants. The Grooms Complaint makes allegations and claims that are substantially identical to those in the Kinney Complaint, and both complaints seek compensatory damages of an undisclosed amount. On January 16, 2016, several shareholders filed motions to consolidate the Kinney and Grooms actions and for appointment as lead plaintiff. The Court has not yet issued a decision on those motions. The Company has not recorded any liability as of December 31, 2015 since any potential loss is not probable or reasonably estimable given the preliminary nature of the proceedings.
Item 1A. Risk Factors
There have been no material changes to the risk factors disclosed in the Companys Annual Report on Form 10-K for Fiscal 2015 except for the revision of one risk factor as set forth below:
Potential intellectual property, labor, product liability, stockholder or other litigation may adversely impact our business.
From time to time, we may face litigation relating to intellectual property, labor, product liability, stockholder and other matters. An adverse judgment could negatively impact our financial position and results of operations, the trading price of our common stock and our ability to obtain future financing on favorable terms or at all. Whether or not resolved in a manner adverse to us, any litigation could be costly, divert management attention or result in increased costs of doing business. Further, our insurance coverage is limited for these and other claims against us, and we may not have adequate insurance or financial resources to pay for our liabilities or losses from any such claims.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
None
Item 3. Defaults Upon Senior Securities
None
Item 4. Mine Safety Disclosures
Not applicable
Item 5. Other Information
None
31
Table of Contents
Item 6. Exhibits
The following exhibits are filed with, or incorporated by reference into, this Form 10-Q:
Exhibit Number |
|
Description |
3.1 |
|
Second Amended and Restated Certificate of Incorporation of Capstone Turbine Corporation (a) |
3.2 |
|
Certificate of Amendment to the Second Amended and Restated Certificate of Incorporation of Capstone Turbine Corporation, filed August 30, 2012 (b) |
3.3 |
|
Certificate of Amendment to the Second Amended and Restated Certificate of Incorporation of Capstone Turbine Corporation, filed November 6, 2015 (c) |
3.4 |
|
Amended and Restated Bylaws of Capstone Turbine Corporation (d) |
10.1 |
|
Fifteenth Amendment to the Credit and Security Agreements and Waiver of Default between Capstone Turbine Corporation and Wells Fargo Bank, NA, dated November 2, 2015 (e) |
31.1 |
|
Certification of Chief Executive Officer pursuant to Section 302 of the SarbanesOxley Act of 2002 |
31.2 |
|
Certification of Chief Financial Officer pursuant to Section 302 of the SarbanesOxley Act of 2002 |
32 |
|
Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the SarbanesOxley Act of 2002 |
101.INS |
|
XBRL Instance Document |
101.SCH |
|
XBRL Schema Document |
101.CAL |
|
XBRL Calculation Linkbase Document |
101.LAB |
|
XBRL Label Linkbase Document |
101.PRE |
|
XBRL Presentation Linkbase Document |
101.DEF |
|
XBRL Definition Linkbase Document |
(a) |
Incorporated by reference to Capstone Turbine Corporations Registration Statement on Form S-1/A, dated May 8, 2000 (File No. 333-33024) |
|
|
(b) |
Incorporated by reference to Appendix B to Capstone Turbine Corporations Definitive Proxy Statement, filed on July 17, 2012 (File No. 001-15957) |
|
|
(c) |
Incorporated by reference to Capstone Turbine Corporations Current Report on Form 8-K, filed on November 6, 2015 (File No. 001-15957) |
|
|
(d) |
Incorporated by reference to Capstone Turbine Corporations Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2005 (File No. 001-15957) |
|
|
(e) |
Incorporated by reference to Capstone Turbine Corporations Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2015 (File No. 001-15957) |
32
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
|
CAPSTONE TURBINE CORPORATION |
|
|
|
|
|
By: |
/s/ JAYME L. BROOKS |
|
|
Jayme L. Brooks |
|
|
Chief Financial Officer & Chief Accounting Officer |
|
|
(Principal Financial and Accounting Officer) |
Date: February 3, 2016 |
|
33
Table of Contents
Exhibit Index
Exhibit Number |
|
Description |
3.1 |
|
Second Amended and Restated Certificate of Incorporation of Capstone Turbine Corporation (a) |
3.2 |
|
Certificate of Amendment to the Second Amended and Restated Certificate of Incorporation of Capstone Turbine Corporation, filed August 30, 2012 (b) |
3.3 |
|
Certificate of Amendment to the Second Amended and Restated Certificate of Incorporation of Capstone Turbine Corporation, filed November 6, 2015 (c) |
3.4 |
|
Amended and Restated Bylaws of Capstone Turbine Corporation (d) |
10.1 |
|
Fifteenth Amendment to the Credit and Security Agreements and Waiver of Default between Capstone Turbine Corporation and Wells Fargo Bank, NA, dated November 2, 2015 (e) |
31.1 |
|
Certification of Chief Executive Officer pursuant to Section 302 of the SarbanesOxley Act of 2002 |
31.2 |
|
Certification of Chief Financial Officer pursuant to Section 302 of the SarbanesOxley Act of 2002 |
32 |
|
Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the SarbanesOxley Act of 2002 |
101.INS |
|
XBRL Instance Document |
101.SCH |
|
XBRL Schema Document |
101.CAL |
|
XBRL Calculation Linkbase Document |
101.LAB |
|
XBRL Label Linkbase Document |
101.PRE |
|
XBRL Presentation Linkbase Document |
101.DEF |
|
XBRL Definition Linkbase Document |
(a) |
Incorporated by reference to Capstone Turbine Corporations Registration Statement on Form S-1/A, dated May 8, 2000 (File No. 333-33024) |
|
|
(b) |
Incorporated by reference to Appendix B to Capstone Turbine Corporations Definitive Proxy Statement, filed on July 17, 2012 (File No. 001-15957) |
|
|
(c) |
Incorporated by reference to Capstone Turbine Corporations Current Report on Form 8-K, filed on November 6, 2015 (File No. 001-15957) |
|
|
(d) |
Incorporated by reference to Capstone Turbine Corporations Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2005 (File No. 001-15957) |
|
|
(e) |
Incorporated by reference to Capstone Turbine Corporations Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2015 (File No. 001-15957) |
34
Exhibit 31.1
CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER
I, Darren R. Jamison, certify that:
1. I have reviewed this report on Form 10-Q of Capstone Turbine Corporation;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d) Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and
5. The registrants other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions):
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting.
Date: February 3, 2016 |
By: |
/s/ DARREN R. JAMISON |
|
|
Darren R. Jamison |
|
|
President and Chief Executive Officer |
1
Exhibit 31.2
CERTIFICATION OF THE CHIEF FINANCIAL OFFICER
I, Jayme L. Brooks, certify that:
1. I have reviewed this report on Form 10-Q of Capstone Turbine Corporation;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d) Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and
5. The registrants other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions):
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting.
Date: February 3, 2016 |
By: |
/s/ JAYME L. BROOKS |
|
|
Jayme L. Brooks |
|
|
Chief Financial Officer |
1
Exhibit 32
CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER
In connection with the quarterly report of Capstone Turbine Corporation (the Company) on Form 10-Q for the quarter ended December 31, 2015, as filed with the Securities and Exchange Commission on the date hereof (the Report), Darren R. Jamison, as Chief Executive Officer of the Company, and Jayme L. Brooks, as Chief Financial Officer of the Company, each hereby certifies, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:
1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
By: |
/s/ DARREN R. JAMISON |
|
|
Darren R. Jamison |
|
|
President and Chief Executive Officer |
|
|
|
|
|
|
By: |
/s/ JAYME L. BROOKS |
|
|
Jayme L. Brooks |
|
|
Chief Financial Officer |
|
|
|
Date: February 3, 2016 |
|
|
1
v3.3.1.900
X |
- DefinitionIf the value is true, then the document is an amendment to previously-filed/accepted document.
+ References
+ Details
Name: |
dei_AmendmentFlag |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionEnd date of current fiscal year in the format --MM-DD.
+ References
+ Details
Name: |
dei_CurrentFiscalYearEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:gMonthDayItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThis is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.
+ References
+ Details
Name: |
dei_DocumentFiscalPeriodFocus |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fiscalPeriodItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThis is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.
+ References
+ Details
Name: |
dei_DocumentFiscalYearFocus |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:gYearItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.
+ References
+ Details
Name: |
dei_DocumentPeriodEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".
+ References
+ Details
Name: |
dei_DocumentType |
Namespace Prefix: |
dei_ |
Data Type: |
dei:submissionTypeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1
+ Details
Name: |
dei_EntityCentralIndexKey |
Namespace Prefix: |
dei_ |
Data Type: |
dei:centralIndexKeyItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.
+ References
+ Details
Name: |
dei_EntityCommonStockSharesOutstanding |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionIndicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.
+ References
+ Details
Name: |
dei_EntityCurrentReportingStatus |
Namespace Prefix: |
dei_ |
Data Type: |
dei:yesNoItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.
+ References
+ Details
Name: |
dei_EntityFilerCategory |
Namespace Prefix: |
dei_ |
Data Type: |
dei:filerCategoryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1
+ Details
Name: |
dei_EntityRegistrantName |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands |
Dec. 31, 2015 |
Mar. 31, 2015 |
Current Assets: |
|
|
Cash and cash equivalents |
$ 13,470
|
$ 32,221
|
Restricted cash |
5,000
|
|
Accounts receivable, net of allowances of $10,593 at December 31, 2015 and $11,041 at March 31, 2015 |
13,851
|
13,120
|
Inventories |
20,431
|
23,097
|
Prepaid expenses and other current assets |
2,941
|
3,063
|
Total current assets |
55,693
|
71,501
|
Property, plant and equipment, net |
3,854
|
3,523
|
Non-current portion of inventories |
2,287
|
2,258
|
Intangible assets, net |
1,132
|
1,337
|
Other assets |
281
|
308
|
Total |
63,247
|
78,927
|
Current Liabilities: |
|
|
Accounts payable and accrued expenses |
21,351
|
22,266
|
Accrued salaries and wages |
1,679
|
2,113
|
Accrued warranty reserve |
2,200
|
3,183
|
Deferred revenue |
3,958
|
3,051
|
Revolving credit facility |
9,600
|
12,953
|
Current portion of notes payable and capital lease obligations |
540
|
407
|
Total current liabilities |
39,328
|
43,973
|
Long-term portion of notes payable and capital lease obligations |
77
|
89
|
Other long-term liabilities |
$ 184
|
$ 161
|
Commitments and contingencies (Note 15) |
|
|
Stockholders' Equity: |
|
|
Preferred stock, $.001 par value; 10,000,000 shares authorized; none issued |
|
|
Common stock, $.001 par value; 515,000,000 shares authorized; 19,767,772 shares issued and 19,663,666 shares outstanding at December 31,2015; 16,589,848 shares issued and 16,527,054 shares outstanding at March 31, 2015 |
$ 354
|
$ 332
|
Additional paid-in capital |
846,557
|
837,650
|
Accumulated deficit |
(821,636)
|
(801,764)
|
Treasury stock, at cost; 104,106 at December 31, 2015 and 62,794 shares at March 31, 2015 |
(1,617)
|
(1,514)
|
Total stockholders' equity |
23,658
|
34,704
|
Total |
$ 63,247
|
$ 78,927
|
X |
- DefinitionSum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20 -Article 5
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19 -Article 5
+ Details
Name: |
us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3-4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3 -Subparagraph a(1) -Article 5
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 4 -Article 5
+ Details
Name: |
us-gaap_AccountsReceivableNetCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionValue received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.30(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 31 -Article 5
+ Details
Name: |
us-gaap_AdditionalPaidInCapitalCommonStock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.18) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 12 -Article 7
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 18 -Article 5
+ Details
Name: |
us-gaap_Assets |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.9) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6801-107765
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 9 -Article 5
+ Details
Name: |
us-gaap_AssetsCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_AssetsCurrentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash -URI http://asc.fasb.org/extlink&oid=6506951
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3044-108585
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash Equivalents -URI http://asc.fasb.org/extlink&oid=6507016
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 1 -Article 5
+ Details
Name: |
us-gaap_CashAndCashEquivalentsAtCarryingValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionRepresents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.(a),19) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14326-108349
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.17) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 7
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 25 -Article 5
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 17 -Article 9
+ Details
Name: |
us-gaap_CommitmentsAndContingencies |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5
+ Details
Name: |
us-gaap_CommonStockValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 8 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6935-107765
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 605 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 13.A.4(a).Q1) -URI http://asc.fasb.org/extlink&oid=27012821&loc=d3e214044-122780
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 13 -Section A
+ Details
Name: |
us-gaap_DeferredRevenueCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionSum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6388964&loc=d3e16212-109274
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph ((a)(1),(b)) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275
+ Details
Name: |
us-gaap_IntangibleAssetsNetExcludingGoodwill |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(a)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -SubTopic 10 -Section 35 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6386567&loc=d3e3927-108312
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
+ Details
Name: |
us-gaap_InventoryNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionInventories not expected to be converted to cash, sold or exchanged within the normal operating cycle.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(d)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph d -Article 5
+ Details
Name: |
us-gaap_InventoryNoncurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.32) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 25 -Article 7
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 32 -Article 5
+ Details
Name: |
us-gaap_LiabilitiesAndStockholdersEquity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionTotal obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.21) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 21 -Article 5
+ Details
Name: |
us-gaap_LiabilitiesCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_LiabilitiesCurrentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Line-of-Credit Arrangement -URI http://asc.fasb.org/extlink&oid=6517033
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20 -Article 5
+ Details
Name: |
us-gaap_LinesOfCreditCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of long-term debt and capital lease obligation due after one year or beyond the normal operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section H
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5
+ Details
Name: |
us-gaap_LongTermDebtAndCapitalLeaseObligations |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of long-term debt and capital leases due within one year or the normal operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.17) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 17 -Article 5
+ Details
Name: |
us-gaap_OtherAssetsNoncurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 24 -Article 5
+ Details
Name: |
us-gaap_OtherLiabilitiesNoncurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5
+ Details
Name: |
us-gaap_PreferredStockValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 8 -Article 5
+ Details
Name: |
us-gaap_PrepaidExpenseAndOtherAssetsCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionCarrying value as of the balance sheet date of obligations incurred through that date and payable for estimated claims under standard and extended warranty protection rights granted to customers. For classified balance sheets, represents the current portion of the liabilities (due within one year or within the normal operating cycle if longer).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 25 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6397716&loc=d3e11281-110244
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12524-110249
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20 -Article 5
+ Details
Name: |
us-gaap_ProductWarrantyAccrualClassifiedCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 13 -Subparagraph a -Article 5
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 8 -Article 7
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 1 -Article 5
+ Details
Name: |
us-gaap_RestrictedCashAndCashEquivalents |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe cumulative amount of the reporting entity's undistributed earnings or deficit.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.31(a)(3)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 31 -Article 5
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3
+ Details
Name: |
us-gaap_RetainedEarningsAccumulatedDeficit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionTotal of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E
+ Details
Name: |
us-gaap_StockholdersEquity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_StockholdersEquityAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23315-112656
+ Details
Name: |
us-gaap_TreasuryStockValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.3.1.900
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands |
Dec. 31, 2015 |
Mar. 31, 2015 |
CONSOLIDATED BALANCE SHEETS |
|
|
Accounts receivable, allowances (in dollars) |
$ 10,593
|
$ 11,041
|
Preferred stock, par value (in dollars per share) |
$ 0.001
|
$ 0.001
|
Preferred stock, shares authorized |
10,000,000
|
10,000,000
|
Preferred stock, shares issued |
0
|
0
|
Common stock, par value (in dollars per share) |
$ 0.001
|
$ 0.001
|
Common stock, shares authorized |
515,000,000
|
515,000,000
|
Common stock, shares issued |
19,767,772
|
16,589,848
|
Common stock, shares outstanding |
19,663,666
|
16,527,054
|
Treasury stock, shares |
104,106
|
62,794
|
X |
- DefinitionA valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=35738203&loc=d3e5074-111524
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 4 -Article 5
+ Details
Name: |
us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionFace amount or stated value per share of common stock.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5
+ Details
Name: |
us-gaap_CommonStockParOrStatedValuePerShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe maximum number of common shares permitted to be issued by an entity's charter and bylaws.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5
+ Details
Name: |
us-gaap_CommonStockSharesAuthorized |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionTotal number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5
+ Details
Name: |
us-gaap_CommonStockSharesIssued |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionNumber of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3
+ Details
Name: |
us-gaap_CommonStockSharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionFace amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5
+ Details
Name: |
us-gaap_PreferredStockParOrStatedValuePerShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5
+ Details
Name: |
us-gaap_PreferredStockSharesAuthorized |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionTotal number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5
+ Details
Name: |
us-gaap_PreferredStockSharesIssued |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_StatementOfFinancialPositionAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28,29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30 -Article 5
+ Details
Name: |
us-gaap_TreasuryStockShares |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
v3.3.1.900
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended |
9 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
|
|
|
|
Product, accessories and parts |
$ 18,239
|
$ 26,919
|
$ 57,074
|
$ 77,682
|
Service |
3,220
|
3,165
|
9,270
|
7,910
|
Total revenues |
21,459
|
30,084
|
66,344
|
85,592
|
Product, accessories and parts |
14,979
|
21,859
|
48,039
|
64,560
|
Service |
2,429
|
2,119
|
7,641
|
6,267
|
Total cost of goods sold |
17,408
|
23,978
|
55,680
|
70,827
|
Gross margin |
4,051
|
6,106
|
10,664
|
14,765
|
Operating expenses: |
|
|
|
|
Research and development |
2,905
|
2,355
|
8,193
|
6,737
|
Selling, general and administrative |
7,002
|
7,508
|
21,796
|
24,815
|
Total operating expenses |
9,907
|
9,863
|
29,989
|
31,552
|
Loss from operations |
(5,856)
|
(3,757)
|
(19,325)
|
(16,787)
|
Other (expense) income |
|
(31)
|
(38)
|
50
|
Interest expense |
(159)
|
(134)
|
(506)
|
(421)
|
Loss before income taxes |
(6,015)
|
(3,922)
|
(19,869)
|
(17,158)
|
Provision for income taxes |
|
13
|
3
|
77
|
Net loss |
$ (6,015)
|
$ (3,935)
|
$ (19,872)
|
$ (17,235)
|
Net loss per common share-basic and diluted (in dollars per share) |
$ (0.34)
|
$ (0.24)
|
$ (1.17)
|
$ (1.05)
|
Weighted average shares used to calculate basic and diluted net loss per common share (in shares) |
17,824
|
16,512
|
16,975
|
16,366
|
X |
- DefinitionThe aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2(a),(d)) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 2 -Article 5
+ Details
Name: |
us-gaap_CostOfGoodsAndServicesSold |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionTotal costs related to goods produced and sold during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2(a)) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 2 -Article 5
+ Details
Name: |
us-gaap_CostOfGoodsSold |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionTotal costs related to services rendered by an entity during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2(d)) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 2 -Article 5
+ Details
Name: |
us-gaap_CostOfServices |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.
+ References
+ Details
Name: |
us-gaap_EarningsPerShareBasicAndDiluted |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1,2) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_GrossProfit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_IncomeStatementAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of the cost of borrowed funds accounted for as interest expense.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.9) -URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 9 -Article 9
+ Details
Name: |
us-gaap_InterestExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionNet income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1377-109256
+ Details
Name: |
us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionGenerally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.
+ References
+ Details
Name: |
us-gaap_OperatingExpenses |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_OperatingExpensesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe net result for the period of deducting operating expenses from operating revenues.
+ References
+ Details
Name: |
us-gaap_OperatingIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.9) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 9 -Article 5
+ Details
Name: |
us-gaap_OtherNonoperatingIncomeExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 730 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6420194&loc=d3e21568-108373
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 985 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6501960&loc=d3e128462-111756
+ Details
Name: |
us-gaap_ResearchAndDevelopmentExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1(a)) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 1 -Article 5
+ Details
Name: |
us-gaap_SalesRevenueGoodsNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionTotal revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 1 -Article 5
+ Details
Name: |
us-gaap_SalesRevenueNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAggregate revenue during the period from services rendered in the normal course of business, after deducting allowances and discounts.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1(d)) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 1 -Article 5
+ Details
Name: |
us-gaap_SalesRevenueServicesNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.4) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -SubTopic 10 -Section 30 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=34747878&loc=d3e3636-108311
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 4 -Article 5
+ Details
Name: |
us-gaap_SellingGeneralAndAdministrativeExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAverage number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).
+ References
+ Details
Name: |
us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands |
9 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Cash Flows from Operating Activities: |
|
|
Net loss |
$ (19,872)
|
$ (17,235)
|
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
Depreciation and amortization |
1,206
|
1,321
|
Amortization of deferred financing costs |
129
|
158
|
Accounts receivable allowances |
(176)
|
3,101
|
Inventory provision |
898
|
1,119
|
Provision for warranty expenses |
266
|
2,210
|
Loss on disposal of equipment |
10
|
4
|
Stock-based compensation |
1,504
|
1,795
|
Changes in operating assets and liabilities: |
|
|
Accounts receivable |
(555)
|
3,338
|
Inventories |
1,739
|
(7,521)
|
Prepaid expenses and other current assets |
4
|
(1,180)
|
Accounts payable and accrued expenses |
(248)
|
(4,732)
|
Accrued salaries and wages and long term liabilities |
(411)
|
(366)
|
Accrued warranty reserve |
(1,249)
|
(2,378)
|
Deferred revenue |
907
|
3,939
|
Net cash used in operating activities |
(15,848)
|
(16,427)
|
Cash Flows from Investing Activities: |
|
|
Expenditures for property and equipment |
(1,437)
|
(1,162)
|
Net cash used in investing activities |
(1,437)
|
(1,162)
|
Cash Flows from Financing Activities: |
|
|
Net proceeds from (repayments of) revolving credit facility |
(3,353)
|
1,117
|
Changes in restricted cash |
(5,000)
|
|
Repayment of notes payable and capital lease obligations |
(435)
|
(405)
|
Net cash (used in) provided by employee stock-based transactions |
(90)
|
136
|
Net proceeds from issuance of common stock at-the-market-offering program |
7,412
|
|
Net proceeds from issuance of common stock |
|
29,772
|
Net cash (used in) provided by financing activities |
(1,466)
|
30,620
|
Net (decrease) increase in Cash and Cash Equivalents |
(18,751)
|
13,031
|
Cash and Cash Equivalents, Beginning of Period |
32,221
|
27,859
|
Cash and Cash Equivalents, End of Period |
13,470
|
40,890
|
Cash paid during the period for: |
|
|
Interest |
371
|
263
|
Income taxes |
5
|
86
|
Supplemental Disclosures of Non-Cash Information: |
|
|
Acquisition of property and equipment through accounts payable |
43
|
58
|
Renewal of insurance contracts which was financed by notes payable |
477
|
447
|
Acquisition of property and equipment in consideration for the issuance of a note payable |
$ 101
|
$ 418
|
X |
- References
+ Details
Name: |
cpst_CashPaidDuringYearAbstract |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash outflow for employee obligation of a net-share settlement of share-based payment award. This item excludes any excess tax benefit, which the entity may have realized and reported separately.
+ References
+ Details
Name: |
cpst_NetCashUsedInEmployeeStockBasedTransactions |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionRepresents the amount of notes payable incurred by the entity to finance insurance contracts.
+ References
+ Details
Name: |
cpst_NotesPayableForInsuranceContract |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe cash outflow for acquisition of and deposits on equipment and leasehold improvements.
+ References
+ Details
Name: |
cpst_PaymentForAcquisitionOfAndDepositsOnEquipmentAndLeaseholdImprovements |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.8) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 8 -Article 5
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 8 -Article 9
+ Details
Name: |
us-gaap_AmortizationOfFinancingCosts |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionFuture cash outflow to pay for purchases of fixed assets that have occurred.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4332-108586
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4313-108586
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586
+ Details
Name: |
us-gaap_CapitalExpendituresIncurredButNotYetPaid |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash -URI http://asc.fasb.org/extlink&oid=6506951
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3044-108585
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash Equivalents -URI http://asc.fasb.org/extlink&oid=6507016
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 1 -Article 5
+ Details
Name: |
us-gaap_CashAndCashEquivalentsAtCarryingValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585
+ Details
Name: |
us-gaap_DepreciationDepletionAndAmortization |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAmount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585
+ Details
Name: |
us-gaap_GainLossOnSaleOfPropertyPlantEquipment |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585
+ Details
Name: |
us-gaap_IncreaseDecreaseInAccountsReceivable |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585
+ Details
Name: |
us-gaap_IncreaseDecreaseInDeferredRevenue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585
+ Details
Name: |
us-gaap_IncreaseDecreaseInInventories |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_IncreaseDecreaseInOperatingCapitalAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in other obligations or expenses incurred but not yet paid.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585
+ Details
Name: |
us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585
+ Details
Name: |
us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3179-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3213-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Investing Activities -URI http://asc.fasb.org/extlink&oid=6516133
+ Details
Name: |
us-gaap_IncreaseDecreaseInRestrictedCash |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of cash paid for interest during the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4297-108586
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 25 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3536-108585
+ Details
Name: |
us-gaap_InterestPaid |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionCharge to cost of goods sold that represents the reduction of the carrying amount of inventory, generally attributable to obsolescence or market conditions.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=28360613&loc=d3e4542-108314
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_InventoryWriteDown |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) in cash associated with the entity's continuing operating, investing, and financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.
+ References
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInContinuingOperations |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3574-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3521-108585
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperationsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3574-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3521-108585
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3521-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3536-108585
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperationsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNet income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1377-109256
+ Details
Name: |
us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe fair value of notes issued in noncash investing and financing activities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4332-108586
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4313-108586
+ Details
Name: |
us-gaap_NotesIssued1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe cash inflow from the additional capital contribution to the entity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3255-108585
+ Details
Name: |
us-gaap_ProceedsFromIssuanceOfCommonStock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe cash inflow from the issuance of common stock, preferred stock, treasury stock, stock options, and other types of equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3255-108585
+ Details
Name: |
us-gaap_ProceedsFromIssuanceOrSaleOfEquity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe net cash inflow or cash outflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 9 -Subparagraph c -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3098-108585
+ Details
Name: |
us-gaap_ProceedsFromRepaymentsOfLinesOfCredit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionRepresents the aggregate Increase or Decrease in the liability during the reporting period for accruals related to preexisting standard and extended product warranties (including adjustments for changes in estimates).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -Subparagraph ((c)(4)) -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249
+ Details
Name: |
us-gaap_ProductWarrantyAccrualPreexistingIncreaseDecrease |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe expense charged against earnings for the period pertaining to standard and extended warranties on the entity's goods and services granted to customers.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -Subparagraph ((c)(3,4)) -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585
+ Details
Name: |
us-gaap_ProductWarrantyExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAmount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.5) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 5 -Article 5
+ Details
Name: |
us-gaap_ProvisionForDoubtfulAccounts |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe cash outflow associated with security instruments that either represent a creditor or an ownership relationship with the holder of the investment security with a maturity of beyond one year or normal operating cycle, if longer. Includes repayments of (a) debt, (b) capital lease obligations, (c) mandatory redeemable capital securities, and (d) any combination of (a), (b), or (c).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3291-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228
+ Details
Name: |
us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585
+ Details
Name: |
us-gaap_ShareBasedCompensation |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
v3.3.1.900
Business and Organization
|
9 Months Ended |
Dec. 31, 2015 |
Business and Organization |
|
Business and Organization |
1. Business and Organization
Capstone Turbine Corporation (“Capstone” or the “Company”) develops, manufactures, markets and services microturbine technology solutions for use in stationary distributed power generation applications, including cogeneration (combined heat and power (“CHP”), and combined cooling, heat and power (“CCHP”)), renewable energy, natural resources, critical power supply, transportation and marine. In addition, the Company’s microturbines can be used as battery charging generators for hybrid electric vehicle applications. The Company was organized in 1988 and has been producing its microturbine generators commercially since 1998.
The Company has incurred significant operating losses since its inception. Management anticipates incurring additional losses until the Company can produce sufficient revenue and gross profit to cover its operating costs. To date, the Company has funded its activities primarily through private and public equity offerings.
|
X |
- References
+ Details
Name: |
cpst_BusinessAndOrganizationDisclosureAbstract |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6003-108592
+ Details
Name: |
us-gaap_NatureOfOperations |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Basis of Presentation
|
9 Months Ended |
Dec. 31, 2015 |
Basis of Presentation |
|
Basis of Presentation |
2. Basis of Presentation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“generally accepted accounting principles” or “GAAP”) for interim financial information and the instructions to Form 10-Q and Regulation S-X promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). They do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The condensed consolidated balance sheet at March 31, 2015 was derived from audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2015. In the opinion of management, the interim condensed consolidated financial statements include all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the financial condition, results of operations and cash flows for such periods. Results of operations for any interim period are not necessarily indicative of results for any other interim period or for the full year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2015. This Quarterly Report on Form 10-Q (this “Form 10-Q”) refers to the Company’s fiscal years ending March 31 as its “Fiscal” years.
The condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company continues to be negatively impacted by the continuing softness of the global oil and gas markets, a substantially stronger U.S. dollar (making our products more expensive overseas) and ongoing geopolitical tensions in Russia, North Africa and the Middle East. The Company’s net loss from operations for the third quarter of Fiscal 2016 was $5.9 million. The Company’s cash and cash equivalents as of December 31, 2015 and March 31, 2015 were $13.5 million ($18.5 million when combined with restricted cash related to the line of credit (the “Credit Facility”) with Wells Fargo Bank, National Association (“Wells Fargo”) and $32.2 million, respectively. See Note 11—Revolving Credit Facility for discussion of the Credit Facility. Cash and cash equivalents and restricted cash, less the amount outstanding under the Credit Facility, was $8.9 million and $19.3 million as of December 31, 2015 and March 31, 2015, respectively. Although the Company realized working capital improvements during the third quarter of Fiscal 2016 because of a reduction in finished goods inventory, the Company’s working capital requirements for the nine months ended December 31, 2015 were higher than planned, primarily as a result of lower than expected revenue, slower collection of accounts receivable and lower than anticipated inventory turns.
Management believes that the Company will make progress on its path to profitability by improving its net loss from operations by lowering its operating costs and the continued development of other geographical and vertical markets. In addition, management has the ability to manage certain operating assets and liabilities, specifically the procurement of inventory and timing of payments of accounts payable, capital expenditures and certain operating expenses depending on the results of its operations to preserve its cash and cash equivalents. Additionally, the Company has an at-the-market offering program in place pursuant to which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock. See Note 9— Underwritten and Registered Direct Placement of Common Stock for disclosure with respect to the at-the-market offering program. Management also believes that the Company will maintain compliance with the covenants contained in the amended Credit Facility agreements through the end of Fiscal 2016. If a covenant violation were to occur, the Company would attempt to negotiate a waiver of non-compliance from Wells Fargo.
If the Company is unable to manage its cash flows in the areas discussed above, the Company may need to raise additional capital in the near term. The Company may seek to raise funds by selling additional securities (through the at-the-market offering discussed above or some other offering) to the public or to selected investors or by obtaining additional debt financing.
There is no assurance that the Company will be able to obtain additional funds on commercially favorable terms or at all. If the Company raises additional funds by issuing additional equity or convertible debt securities, the fully diluted ownership percentages of existing stockholders will be reduced. In addition, any equity or debt securities that the Company would issue may have rights, preferences or privileges senior to those of the holders of its common stock. Should the Company be unable to execute its plans (including raising funds through the at-the-market offering program and maintaining availability under its Credit Facility) or obtain additional financing that may be needed, the Company may need to significantly reduce its operations or it may be unable to continue as a going concern. The unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties.
On November 6, 2015, the Company filed a Certificate of Amendment to its Second Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect a 1-for-20 reverse stock split of the issued and outstanding shares of the Company’s common stock, par value $0.001 per share, effective as of 4:30 p.m. Eastern Standard Time on the filing date. For purposes of presentation, all share and per share information and instruments outstanding under stock plans contained in this report on Form 10-Q has been retroactively adjusted to reflect the reverse stock split.
The condensed consolidated financial statements include the accounts of the Company, Capstone Turbine Singapore, Pte. Ltd., its wholly owned subsidiary that was formed in February 2011, and Capstone Turbine International, Inc., its wholly owned subsidiary that was formed in June 2004, after elimination of inter-company transactions.
|
X |
- References
+ Details
Name: |
us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 915 -SubTopic 235 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6472506&loc=d3e38932-110933
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=35735333&loc=d3e288-107754
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 272 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70478-108055
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6359566&loc=d3e326-107755
+ Details
Name: |
us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Recently Issued Accounting Standards
|
9 Months Ended |
Dec. 31, 2015 |
Recently Issued Accounting Standards |
|
Recently Issued Accounting Standards |
3. Recently Issued Accounting Standards
In July 2015, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (ASU) 2015-11, “Simplifying the Measurement of Inventory.” ASU 2015-11 requires inventory that is recorded using the first-in, first-out method to be measured at the lower of cost or net realizable value. ASU 2015-11 is effective for annual and interim periods beginning after December 15, 2016, and should be applied prospectively with early adoption permitted at the beginning of an interim or annual reporting period. The Company is currently evaluating the potential impact the new standard will have on our financial position and results of operations.
In April 2015, the FASB issued ASU 2015-03, Interest — Imputation of Interest (Subtopic 835-30). The ASU was issued as part of FASB’s current plan to simplify overly complex standards. This ASU requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The recognition and measurement guidance for debt issuance costs are not affected by this ASU. The update requires retrospective application to all prior period amounts presented. This update is effective for annual and interim periods beginning on or after December 15, 2015, with early application permitted for financial statements that have not been issued. The adoption of this standard would result in the reclassification of debt issuance costs from prepaid expenses and other current assets to the amount outstanding under the Credit Facility. The net amount of such costs at December 31, 2015 was approximately $0.1 million.
In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued and provides guidance on determining when and how to disclose going concern uncertainties in the financial statements. Certain disclosures will be required if conditions give rise to substantial doubt about an entity’s ability to continue as a going concern. ASU 2014-15 applies to all entities and is effective for annual and interim reporting periods ending after December 15, 2016, with early adoption permitted. The Company is evaluating the potential impacts the new standard will have on its reporting process.
In June 2014, the FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (“ASU 2014-12”). ASU 2014-12 requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. ASU 2014-12 is effective for annual reporting periods beginning after December 15, 2015, with early adoption permitted. The Company is evaluating the potential impacts of the new standard on its existing stock-based compensation plans.
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The Company is evaluating its existing revenue recognition policies to determine whether any contracts in the scope of the guidance will be affected by the new requirements. The Company will be required to adopt the revenue recognition standard in annual reporting periods beginning after December 15, 2017 (fiscal year ending March 31, 2019) and interim periods within those annual periods.
|
X |
- References
+ Details
Name: |
us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Change in Accounting Principle -URI http://asc.fasb.org/extlink&oid=6507316
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Direct Effects of a Change in Accounting Principle -URI http://asc.fasb.org/extlink&oid=6510796
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22583-107794
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Indirect Effects of a Change in Accounting Principle -URI http://asc.fasb.org/extlink&oid=6515603
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22580-107794
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.10-01.(b)(6)) -URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Accounting Change -URI http://asc.fasb.org/extlink&oid=6503790
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22499-107794
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Retrospective Application -URI http://asc.fasb.org/extlink&oid=6523989
Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305
Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305
Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 01 -Paragraph b -Subparagraph 6 -Article 10
+ Details
Name: |
us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Customer Concentrations and Accounts Receivable
|
9 Months Ended |
Dec. 31, 2015 |
Customer Concentrations and Accounts Receivable |
|
Customer Concentrations and Accounts Receivable |
4. Customer Concentrations and Accounts Receivable
Sales to E-Finity Distributed Generation, LLC (“E-Finity”), one of the Company’s domestic distributors, Critchfield Pacific Incorporated, one of the Company’s domestic distributors, Horizon Power Systems (“Horizon”), one of the Company’s domestic distributors, and Dtc Soluciones Inmobiliarias S.A. de C.V. (“DTC”), one of the Company’s Mexican distributors, accounted for 17%, 13%, 12% and 10%, respectively, of revenue for the three months ended December 31, 2015. Sales to Horizon, DTC and Optimal Group Australia Pty Ltd (“Optimal”), one of the Company’s Australian distributors, accounted for 17%, 12% and 11%, respectively, of revenue for the three months ended December 31, 2014. For the nine months ended December 31, 2015, Horizon, E-Finity and Optimal accounted for 16%, 11% and 10% of revenue, respectively. For the nine months ended December 31, 2014, Horizon, BPC Engineering (“BPC”), one of the Company’s Russian distributors, and E-Finity accounted for 20%, 15% and 10% of revenue, respectively. Additionally, DTC, E-Finity, RSP Systems, one of the Company’s domestic distributors, and Serba Dinamik Sdn Bhd, one of the Company’s Malaysian distributors, accounted for 19%, 16%, 16% and 11%, respectively, of net accounts receivable as of December 31, 2015. Optimal accounted for 17% of net accounts receivable as of March 31, 2015.
The Company recorded bad debt recovery of $0.2 million for the three and nine months ended December 31, 2015, respectively. The Company recorded bad debt expense of $43,000 and $3.1 million for the three and nine months ended December 31, 2014, respectively.
|
X |
- DefinitionThe entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6327-108592
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13531-108611
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6404-108592
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6442-108592
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6351-108592
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13537-108611
+ Details
Name: |
us-gaap_ConcentrationRiskDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_RisksAndUncertaintiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Inventories
|
9 Months Ended |
Dec. 31, 2015 |
Inventories |
|
Inventories |
5. Inventories
Inventories are valued on a first in first out (“FIFO”) basis and lower of cost or market net of provisions for slow moving, excess, obsolete or otherwise impaired inventories and consisted of the following as of December 31, 2015 and March 31, 2015 (in thousands):
|
|
December 31, 2015
|
|
March 31, 2015
|
|
|
|
|
|
|
|
Raw materials
|
|
$
|
20,671
|
|
$
|
19,955
|
|
Work in process
|
|
615
|
|
—
|
|
Finished goods
|
|
1,432
|
|
5,400
|
|
|
|
|
|
|
|
Total
|
|
22,718
|
|
25,355
|
|
Less non-current portion
|
|
(2,287
|
)
|
(2,258
|
)
|
|
|
|
|
|
|
Current portion
|
|
$
|
20,431
|
|
$
|
23,097
|
|
|
|
|
|
|
|
|
|
The non-current portion of inventories represents that portion of the inventories in excess of amounts expected to be sold or used in the next twelve months. The non-current inventories are primarily comprised of repair parts for older generation products that are still in operation but are not technologically compatible with current configurations. The weighted average age of the non-current portion of inventories on hand as of December 31, 2015 is 1.8 years. The Company expects to use the non-current portion of the inventories on hand as of December 31, 2015 over the periods presented in the following table (in thousands):
Expected Period of Use
|
|
Non-Current Inventory Balance Expected to be Used
|
|
|
|
|
|
13 to 24 months
|
|
$
|
1,612
|
|
25 to 36 months
|
|
566
|
|
37 to 48 months
|
|
109
|
|
|
|
|
|
Total
|
|
$
|
2,287
|
|
|
|
|
|
|
|
X |
- References
+ Details
Name: |
us-gaap_InventoryDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe 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.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph a, b, c -Article 5
+ Details
Name: |
us-gaap_InventoryDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Property, Plant and Equipment
|
9 Months Ended |
Dec. 31, 2015 |
Property, Plant and Equipment |
|
Property, Plant and Equipment |
6. Property, Plant and Equipment
The Company recorded depreciation expense of $0.3 million and $1.0 million for the three and nine months ended December 31, 2015, respectively. The Company recorded depreciation expense of $0.3 million and $0.9 million for the three and nine months ended December 31, 2014, respectively.
Property, plant and equipment consisted of the following (in thousands):
|
|
December 31, 2015
|
|
March 31, 2015
|
|
|
|
|
|
|
|
Machinery, rental equipment, equipment, automobiles and furniture
|
|
$
|
19,688
|
|
$
|
20,873
|
|
Leasehold improvements
|
|
9,855
|
|
9,760
|
|
Molds and tooling
|
|
3,195
|
|
3,722
|
|
|
|
|
|
|
|
|
|
32,738
|
|
34,355
|
|
Less, accumulated depreciation
|
|
(28,884
|
)
|
(30,832
|
)
|
|
|
|
|
|
|
Total property, plant and equipment, net
|
|
$
|
3,854
|
|
$
|
3,523
|
|
|
|
|
|
|
|
|
|
|
X |
- References
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Intangible Assets
|
9 Months Ended |
Dec. 31, 2015 |
Intangible Assets |
|
Intangible Assets |
7. Intangible Assets
The Company recorded amortization expense of $0.1 million and $0.2 million for the three and nine months ended December 31, 2015, respectively. The Company recorded amortization expense of $0.1 million and $0.4 million for the three and nine months ended December 31, 2014, respectively. Intangible assets consisted of the following (in thousands):
|
|
December 31, 2015
|
|
|
|
Weighted Average Amortization Period
|
|
Intangible Assets, Gross
|
|
Accumulated Amortization
|
|
Intangible Assets, Net
|
|
Manufacturing license
|
|
17 years
|
|
$
|
3,700
|
|
$
|
3,622
|
|
$
|
78
|
|
Technology
|
|
10 years
|
|
2,240
|
|
1,325
|
|
915
|
|
Parts and service customer relationships
|
|
5 years
|
|
1,080
|
|
1,080
|
|
—
|
|
TA100 customer relationships
|
|
2 years
|
|
617
|
|
617
|
|
—
|
|
Backlog
|
|
Various
|
|
490
|
|
351
|
|
139
|
|
Trade name
|
|
1.2 years
|
|
69
|
|
69
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
$
|
8,196
|
|
$
|
7,064
|
|
$
|
1,132
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2015
|
|
|
|
Weighted Average Amortization Period
|
|
Intangible Assets, Gross
|
|
Accumulated Amortization
|
|
Intangible Assets, Net
|
|
Manufacturing license
|
|
17 years
|
|
$
|
3,700
|
|
$
|
3,585
|
|
$
|
115
|
|
Technology
|
|
10 years
|
|
2,240
|
|
1,157
|
|
1,083
|
|
Parts and service customer relationships
|
|
5 years
|
|
1,080
|
|
1,080
|
|
—
|
|
TA100 customer relationships
|
|
2 years
|
|
617
|
|
617
|
|
—
|
|
Backlog
|
|
Various
|
|
490
|
|
351
|
|
139
|
|
Trade name
|
|
1.2 years
|
|
69
|
|
69
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
$
|
8,196
|
|
$
|
6,859
|
|
$
|
1,337
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expected future amortization expense of intangible assets as of December 31, 2015 is as follows (in thousands):
Year Ending March 31,
|
|
Amortization Expense
|
|
2016 (remainder of fiscal year)
|
|
$
|
127
|
|
2017
|
|
352
|
|
2018
|
|
242
|
|
2019
|
|
224
|
|
2020
|
|
187
|
|
Thereafter
|
|
—
|
|
|
|
|
|
Total expected future amortization
|
|
$
|
1,132
|
|
|
|
|
|
|
The manufacturing license provides the Company with the ability to manufacture recuperator cores previously purchased from Solar Turbines Incorporated (“Solar”). The Company is required to pay a per-unit royalty fee over a seventeen-year period for cores manufactured and sold by the Company using the technology. Royalties of approximately $7,200 and $18,100 were earned by Solar for the three months ended December 31, 2015 and 2014, respectively. Royalties of approximately $26,400 and $51,800 were earned by Solar for the nine months ended December 31, 2015 and 2014, respectively. Earned royalties of approximately $26,400 and $19,300 were unpaid as of December 31, 2015 and March 31, 2015, respectively, and are included in accounts payable and accrued expenses in the accompanying balance sheets.
|
X |
- References
+ Details
Name: |
us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for all or part of the information related to intangible assets.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16373-109275
+ Details
Name: |
us-gaap_IntangibleAssetsDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Stock-Based Compensation
|
9 Months Ended |
Dec. 31, 2015 |
Stock-Based Compensation |
|
Stock-Based Compensation |
8. Stock-Based Compensation
The following table summarizes, by statement of operations line item, stock-based compensation expense for the three and nine months ended December 31, 2015 (in thousands):
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
Cost of goods sold
|
|
$
|
63
|
|
$
|
33
|
|
$
|
132
|
|
$
|
85
|
|
Research and development
|
|
47
|
|
84
|
|
56
|
|
244
|
|
Selling, general and administrative
|
|
546
|
|
454
|
|
1,316
|
|
1,466
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense
|
|
$
|
656
|
|
$
|
571
|
|
$
|
1,504
|
|
$
|
1,795
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock Plans
2000 Equity Incentive Plan
In June 2000, the Company adopted the 2000 Equity Incentive Plan (“2000 Plan”). The 2000 Plan provides for a total maximum aggregate number of shares which may be issued of 1,849,000 shares. The 2000 Plan is administered by the Compensation Committee designated by the Board of Directors. The Compensation Committee’s authority includes determining the number of incentive awards and vesting provisions. In August 2015, the Board of Directors adopted and the shareholders approved an amendment and restatement of the 2000 Plan. The amendment and restatement includes an increase of 450,000 shares of common stock that will be available under the 2000 Plan. As of December 31, 2015, there were 215,018 shares available for future grant under the 2000 Plan.
Stock Options
The Company issues stock options under the 2000 Plan to employees, non-employee directors and consultants that vest and become exercisable over a four-year period and expire 10 years after the grant date. The Company uses a Black-Scholes valuation model to estimate the fair value of the options at the grant date, and compensation cost is recorded on a straight-line basis over the vesting period. Stock based compensation expense is based on awards that are ultimately expected to vest and accordingly, stock based compensation recognized is reduced by estimated forfeitures. Management’s estimate of forfeitures is based on historical forfeitures. All options are subject to the following vesting provisions: one-fourth vest one year after the issuance date and 1/48th vest on the first day of each full month thereafter, so that all options will be vested on the first day of the 48th month after the grant date. Information relating to stock options for the nine months ended December 31, 2015 is as follows:
|
|
Shares
|
|
Weighted Average Exercise Price
|
|
Weighted- Average Remaining Contractual Term (in years)
|
|
Aggregate Intrinsic Value
|
|
Options outstanding at March 31, 2015
|
|
658,171
|
|
$
|
25.57
|
|
|
|
|
|
Granted
|
|
29,225
|
|
12.80
|
|
|
|
|
|
Exercised
|
|
—
|
|
—
|
|
|
|
|
|
Forfeited, cancelled or expired
|
|
(151,257
|
)
|
34.72
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at December 31, 2015
|
|
536,139
|
|
$
|
22.29
|
|
4.3
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options fully vested at December 31, 2015 and those expected to vest beyond December 31, 2015
|
|
536,139
|
|
$
|
22.29
|
|
4.3
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options exercisable at December 31, 2015
|
|
452,593
|
|
$
|
22.73
|
|
3.5
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Black-Scholes Model Valuation Assumptions
There were no stock options granted during either of the three months ended December 31, 2015 and 2014. The Company calculated the estimated fair value of each stock option granted during the nine months ended December 31, 2015 and 2014 on the date of grant using the Black-Scholes option-pricing model and the following weighted-average assumptions:
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
Risk-free interest rates
|
|
—
|
|
—
|
|
1.5
|
%
|
1.8
|
%
|
Expected lives (in years)
|
|
—
|
|
—
|
|
5.7
|
|
5.7
|
|
Dividend yield
|
|
—
|
|
—
|
|
—
|
%
|
—
|
%
|
Expected volatility
|
|
—
|
|
—
|
|
59.0
|
%
|
77.0
|
%
|
Weighted average grant date fair value of options granted during the period
|
|
—
|
|
—
|
|
$
|
6.84
|
|
$
|
18.79
|
|
The Company’s computation of expected volatility for the three and nine months ended December 31, 2015 and 2014 was based on historical volatility. The expected life, or term, of options granted is derived from historical exercise behavior and represents the period of time that stock option awards are expected to be outstanding. Management has selected a risk-free rate based on the implied yield available on U.S. Treasury Securities with a maturity equivalent to the options’ expected term.
The following table provides additional information on stock options for the three and nine months ended December 31, 2015 and 2014:
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
Stock option compensation expense (in thousands)
|
|
$
|
135
|
|
$
|
239
|
|
$
|
409
|
|
$
|
834
|
|
Cash received for exercise price (in thousands)
|
|
$
|
—
|
|
$
|
7
|
|
$
|
—
|
|
$
|
302
|
|
Intrinsic value (in thousands)
|
|
$
|
—
|
|
$
|
1
|
|
$
|
—
|
|
$
|
129
|
|
Weighted average grant date fair value of options exercised during the period
|
|
$
|
—
|
|
$
|
15.20
|
|
$
|
—
|
|
$
|
26.75
|
|
As of December 31, 2015, there was approximately $0.9 million of total compensation cost related to unvested stock option awards that is expected to be recognized as expense over a weighted average period of 2.3 years.
Restricted Stock Units and Performance Restricted Stock Units
The Company issues restricted stock units under the 2000 Plan to employees, non-employee directors and consultants. The restricted stock units are valued based on the closing price of the Company’s common stock on the date of issuance, and compensation cost is recorded on a straight-line basis over the vesting period. The related compensation expense recognized is reduced by estimated forfeitures. The Company’s estimate of forfeitures is based on historical forfeitures. The restricted stock units vest in equal installments over a period of four years. For restricted stock units with four year vesting, one-fourth vest annually beginning one year after the issuance date. The restricted stock units issued to non-employee directors vest one year after the issuance date. The following table outlines the restricted stock and performance restricted stock unit (“PRSU”) activity:
|
|
Shares
|
|
Weighted Average Grant-Date Fair Value
|
|
Nonvested restricted stock units outstanding at March 31, 2015
|
|
93,383
|
|
$
|
23.76
|
|
|
|
|
|
|
|
Granted
|
|
234,046
|
|
3.86
|
|
Vested and issued
|
|
(36,098
|
)
|
24.47
|
|
Forfeited
|
|
(17,034
|
)
|
21.39
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonvested restricted stock units outstanding at December 31, 2015
|
|
274,297
|
|
$
|
6.83
|
|
|
|
|
|
|
|
|
Restricted stock units expected to vest beyond December 31, 2015
|
|
274,286
|
|
$
|
6.83
|
|
|
|
|
|
|
|
|
The following table provides additional information on restricted stock units for the three and nine months ended December 31, 2015 and 2014:
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
Restricted stock units compensation expense (in thousands)
|
|
$
|
204
|
|
$
|
303
|
|
$
|
715
|
|
$
|
873
|
|
Aggregate fair value of restricted stock units vested and issued (in thousands)
|
|
$
|
4
|
|
$
|
28
|
|
$
|
344
|
|
$
|
1,184
|
|
Weighted average grant date fair value of restricted stock units granted during the period
|
|
$
|
1.19
|
|
$
|
19.60
|
|
$
|
3.34
|
|
$
|
27.43
|
|
As of December 31, 2015, there was approximately $1.3 million of total compensation cost related to unvested restricted stock units that is expected to be recognized as expense over a weighted average period of 3.0 years.
PRSU activity is included in the above restricted stock units tables. The PRSU Program has a three-year performance measurement period. The performance measurement period will begin on April 1 of the first fiscal year and end on March 31 of the third fiscal year. The program is intended to have overlapping performance measurement periods (e.g., a new three year cycle begins each year on April 1), subject to Compensation Committee approval. The Chief Executive Officer is the only participant for Fiscal 2016 and Fiscal 2015. At the end of each performance measurement period, the Compensation Committee will determine the achievement against the performance objectives. Any earned PRSU awards will vest 50% after the end of the applicable performance measurement period and 50% one year thereafter.
During the first quarter of each of Fiscal 2016 and Fiscal 2015, the Company granted a total of 10,000 PRSUs to the Chief Executive Officer. The weighted average per share grant date fair value of PRSUs granted during the first quarter of Fiscal 2016 and 2015 was $15.50 and $31.20, respectively. Based on the Company’s assessment as of March 31, 2015, the PRSU threshold for the first performance measurement of the PRSUs granted in Fiscal 2015 likely will not be met and, as a result, the Chief Executive Officer PRSU awards were adjusted and no compensation expense was recorded or recognized during Fiscal 2015. Any compensation expense will be recognized over the corresponding requisite service period and will be adjusted in subsequent reporting periods if the Company’s assessment of the probable level of achievement of the performance goals changes. The Company will continue to periodically assess the likelihood of the PRSU threshold being met until the end of the applicable performance period.
Restricted Stock Awards
The Company issues restricted stock awards under the 2000 Plan to employees and non-employee directors. During the three and nine months ended December 31, 2015 the Company granted stock awards in lieu of cash to employees for variable compensation. During the three and nine months ended December 31, 2015 and 2014 the Company granted stock awards to non-employee directors who elected to take payment of all or any part of the directors’ fees in stock in lieu of cash. The following table outlines the restricted stock awards activity for the three and nine months ended December 31, 2015 and 2014:
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
Restricted stock awards compensation expense (in thousands)
|
|
$
|
317
|
|
$
|
29
|
|
$
|
380
|
|
$
|
88
|
|
Restricted stock awards granted
|
|
255,912
|
|
1,814
|
|
263,594
|
|
3,956
|
|
Weighted average grant date fair value of restricted stock awards granted during the period
|
|
$
|
1.24
|
|
$
|
16.20
|
|
$
|
1.44
|
|
$
|
22.28
|
|
For each term of the Board of Directors (beginning on the date of an annual meeting of stockholders and ending on the date immediately preceding the next annual meeting of stockholders), a non-employee director may elect to receive a stock award in lieu of all or any portion of their annual retainer or committee fee cash payment. The shares of stock were valued based on the closing price of the Company’s common stock on the date of grant.
Grants outside of 2000 Plan
As of December 31, 2015, the Company had outstanding 155,000 non-qualified common stock options and 2,343 restricted stock units issued outside of the 2000 Plan. The Company granted 12,500 of these stock options during Fiscal 2015, 142,500 of these stock options prior to Fiscal 2015 and 2,343 of these restricted stock units during Fiscal 2015 as inducement grants to new officers and employees of the Company, with exercise prices equal to the fair market value of the Company’s common stock on the grant date.
Outside of 2000 Plan
|
|
Options
|
|
RSUs
|
|
Executive Vice President and Chief Executive Officer
|
|
100,000
|
|
—
|
|
Executive Vice President of Sales and Marketing
|
|
42,500
|
|
—
|
|
Vice President of Operations
|
|
12,500
|
|
2,343
|
|
|
|
|
|
|
|
Outstanding stock outside of 2000 Plan
|
|
155,000
|
|
2,343
|
|
|
|
|
|
|
|
Although the options and restricted stock units were not granted under the 2000 Plan, they are governed by terms and conditions identical to those under the 2000 Plan. All options are subject to the following vesting provisions: one-fourth vest one year after the issuance date and 1/48th vest on the first day of each full month thereafter, so that all options will be vested on the first day of the 48th month after the grant date. All outstanding options have a contractual term of ten years. The restricted stock units vest in equal installments over a period of four years.
Stockholder Rights Plan
The Company has entered into a rights agreement (as amended, the “Rights Agreement”) with Computershare Inc., successor-in-interest to Mellon Investor Services LLC, as rights agent. In connection with the Rights Agreement, the Company’s board of directors authorized and declared a dividend distribution of one preferred stock purchase right for each share of the Company’s common stock authorized and outstanding. Each right entitles the registered holder to purchase from the Company a unit consisting of one one-hundredth of a share of Series A Junior Participating Preferred Stock, par value $0.001 per share, at a purchase price of $10.00 per unit, subject to adjustment. The description and terms of the rights are set forth in the Rights Agreement. Initially, the rights are attached to all common stock certificates representing shares then outstanding, and no separate rights certificates are distributed. Subject to certain exceptions specified in the Rights Agreement, the rights will separate from the common stock and will be exercisable upon the earlier of (i) 10 days following a public announcement that a person or group of affiliated or associated persons has acquired, or obtained the right to acquire, beneficial ownership of 20% or more of the outstanding shares of common stock, other than as a result of repurchases of stock by the Company or certain inadvertent actions by institutional or certain other stockholders, or (ii) 10 days (or such later date as the Company’s Board of Directors shall determine) following the commencement of a tender offer or exchange offer (other than certain permitted offers described in the Rights Agreement) that would result in a person or group beneficially owning 20% or more of the outstanding shares of the Company’s common stock.
On July 1, 2014, the Company’s Board of Directors unanimously approved a third amendment to the Rights Agreement pursuant to a “sunset provision,” which was approved by the stockholders at the 2014 annual meeting of stockholders. The third amendment amends the Rights Agreement to provide that the rights will expire on the 30th day after the 2017 annual meeting of stockholders unless continuation of the Rights Agreement is approved by the stockholders at that meeting. On August 5, 2014, the Company entered into a fourth amendment to the Rights Agreement. The fourth amendment amends the Rights Agreement to clarify that the term of the Rights Agreement may not be continued or extended unless and until such amendment has received the approval of the stockholders of the Company at an annual or special meeting of the stockholders held prior to the termination of the Rights Agreement without taking into account such amendment.
The Rights Agreement is intended to protect the Company’s stockholders in the event of an unfair or coercive offer to acquire the Company. Management believes the Rights Agreement, however, should not affect any prospective offeror willing to make an offer at a fair price and otherwise in the best interests of the Company and its stockholders, as determined by the Board of Directors. Also, management believes the Rights Agreement should not interfere with any merger or other business combination approved by the Board of Directors.
|
X |
- DefinitionThe entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14
+ Details
Name: |
us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Underwritten and Registered Direct Placement of Common Stock
|
9 Months Ended |
Dec. 31, 2015 |
Underwritten and Registered Direct Placement of Common Stock |
|
Underwritten and Registered Direct Placement of Common Stock |
9. Underwritten and Registered Direct Placement of Common Stock
Effective May 6, 2014, the Company completed an underwritten public offering in which it sold 0.9 million shares of the Company’s common stock at a price of $34.00 per share less underwriting discounts and commissions. The shares were allocated to a single institutional investor. The net proceeds to the Company from the sale of the Common Stock, after deducting fees and other offering expenses, were approximately $29.8 million.
Effective August 28, 2015, the Company entered into a sales agreement with respect to an at-the-market offering program pursuant to which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock, having an aggregate offering price of up to $30.0 million. The Company will set the parameters for sales of the shares, including the number to be sold, the time period during which sales are requested to be made, any limitation on the number that may be sold in one trading day and any minimum price below which sales may not be made. As of December 31, 2015, 2.8 million shares of the Company’s common stock were sold and the net proceeds to the Company from the sale of the common stock, after deducting fees and other offering expenses, were approximately $7.4 million.
|
X |
- References
+ Details
Name: |
cpst_UnderwrittenAndRegisteredDirectPlacementOfCommonStockDisclosureAbstract |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionRepresents entire disclosure regarding warrant exercise agreements to purchase an aggregate shares of common stock by the reporting entity.
+ References
+ Details
Name: |
cpst_UnderwrittenAndRegisteredDirectPlacementOfCommonStockDisclosureTextBlock |
Namespace Prefix: |
cpst_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Fair Value Measurements
|
9 Months Ended |
Dec. 31, 2015 |
Fair Value Measurements |
|
Fair Value Measurements |
10. Fair Value Measurements
The FASB has established a framework for measuring fair value using generally accepted accounting principles. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy are described as follows:
Level 1. Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets.
Level 2. Inputs to the valuation methodology include:
|
·
Quoted prices for similar assets or liabilities in active markets |
|
·
Quoted prices for identical or similar assets or liabilities in inactive markets |
|
·
Inputs other than quoted prices that are observable for the asset or liability |
|
·
Inputs that are derived principally from or corroborated by observable market data by correlation or other means |
If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability.
Level 3. Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
The asset or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used must maximize the use of observable inputs and minimize the use of unobservable inputs.
The table below presents our assets and liabilities that are measured at fair value on a recurring basis at December 31, 2015 and are categorized using the fair value hierarchy (in thousands):
|
|
Fair Value Measurements at December 31, 2015
|
|
|
|
Total
|
|
Quoted Prices in Active Markets for Identical Assets (Level 1)
|
|
Significant Other Observable Inputs (Level 2)
|
|
Significant Unobservable Inputs (Level 3)
|
|
Cash Equivalents
|
|
$
|
5,001
|
|
$
|
5,001
|
|
$
|
—
|
|
$
|
—
|
|
Restricted Cash
|
|
$
|
5,000
|
|
$
|
5,000
|
|
$
|
—
|
|
$
|
—
|
|
Cash equivalents include cash held in money market and U.S. treasury funds at December 31, 2015.
The table below presents our assets and liabilities that are measured at fair value on a recurring basis during the fiscal year ended March 31, 2015 and are categorized using the fair value hierarchy (in thousands):
|
|
Fair Value Measurements at March 31, 2015
|
|
|
|
Total
|
|
Quoted Prices in Active Markets for Identical Assets (Level 1)
|
|
Quoted Prices in Active Markets for Identical Assets (Level 2)
|
|
Significant Unobservable Inputs (Level 3)
|
|
Cash Equivalents
|
|
$
|
13,737
|
|
$
|
13,737
|
|
$
|
—
|
|
$
|
—
|
|
Basis for Valuation
The carrying values reported in the consolidated balance sheets for cash and cash equivalents, restricted cash, accounts receivable and accounts payable approximate fair values because of the immediate or short-term maturities of these financial instruments. As the Company’s obligations under the Credit Facility are based on adjustable market rates reflective of what would currently be available to the Company, the Company has determined that the carrying value approximates the fair value. The carrying values and estimated fair values of these obligations are as follows (in thousands):
|
|
As of
|
|
As of
|
|
|
|
December 31, 2015
|
|
March 31, 2015
|
|
|
|
Carrying
|
|
Estimated
|
|
Carrying
|
|
Estimated
|
|
|
|
Value
|
|
Fair Value
|
|
Value
|
|
Fair Value
|
|
Obligations under credit facility
|
|
$
|
9,600
|
|
$
|
9,600
|
|
$
|
12,953
|
|
$
|
12,953
|
|
|
X |
- References
+ Details
Name: |
us-gaap_FairValueDisclosuresAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13537-108611
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13504-108611
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13433-108611
+ Details
Name: |
us-gaap_FairValueDisclosuresTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Revolving Credit Facility
|
9 Months Ended |
Dec. 31, 2015 |
Revolving Credit Facility |
|
Revolving Credit Facility |
11. Revolving Credit Facility
The Company maintains two Credit and Security Agreements, as amended (the “Agreements”), with Wells Fargo, which provide the Company with a line of credit of up to $20.0 million in the aggregate. As previously disclosed, the twelfth amendment to the Agreements provided the Company the right, under certain circumstances, to increase the borrowing capacity available under the Company’s revolving lines of credit to an aggregate maximum of $20.0 million from an aggregate maximum of $15.0 million (the “Accordion Feature”). In addition, Wells Fargo has provided the Company with a non-revolving capital expenditure line of credit up to $0.5 million to acquire additional eligible equipment for use in the Company’s business. Effective as of June 30, 2015, the Company exercised the Accordion Feature, thereby increasing the maximum borrowing capacity available to a maximum of $20.0 million. The amount actually available to the Company may be less and may vary from time to time depending on, among other factors, the amount of its eligible accounts receivable and inventory. As security for the payment and performance of the Credit Facility, the Company granted a security interest in favor of Wells Fargo in substantially all of the assets of the Company. One of the Agreements will terminate in accordance with its terms on September 1, 2017 and the other one will terminate on September 30, 2017.
The Agreements include affirmative covenants as well as negative covenants that prohibit a variety of actions without Wells Fargo’s consent, including covenants that limit the Company’s ability to (a) incur or guarantee debt, (b) create liens, (c) enter into any merger, recapitalization or similar transaction or purchase all or substantially all of the assets or stock of another entity, (d) pay dividends on, or purchase, acquire, redeem or retire shares of, the Company’s capital stock, (e) sell, assign, transfer or otherwise dispose of all or substantially all of the Company’s assets, (f) change the Company’s accounting method or (g) enter into a different line of business. Furthermore, the Agreements contain financial covenants, including (i) a requirement not to exceed specified levels of losses, (ii) a requirement to maintain a substantial minimum cash balance relative to the outstanding line of credit advances, which was $8.2 million as of December 31, 2015, and (iii) limitations on the Company’s annual capital expenditures. The Agreements also define an event of default to include a material adverse effect on the Company’s business, as determined by Wells Fargo. An event of default for this or any other reason, if not waived, would have a material adverse effect on the Company.
Several times since entering into the Agreements the Company was not in compliance with certain covenants under the Credit Facility. In connection with each event of noncompliance, Wells Fargo waived the event of default and, on several occasions, the Company amended the Agreements in response to the default and waiver. The following summarizes the recent events, amendments and waivers:
|
·
| |
As of March 31, 2015, the Company determined that it was not in compliance with the financial covenant contained in the amended Agreements regarding the Company’s annual net income for Fiscal 2015. On June 10, 2015, the Company received from Wells Fargo a waiver of such noncompliance, and the Company and Wells Fargo entered into an amendment to the Agreements which set the financial covenants for Fiscal 2016. As a condition of the amended Agreements, the Company has restricted $5.0 million of cash equivalents effective June 10, 2015 as additional security for the Credit Facility. |
|
·
| |
As of September 30, 2015, the Company determined that it was not in compliance with a financial covenant contained in the amended Agreements regarding the Company’s net income for six months ended September 30, 2015. On November 2, 2015, the Company received from Wells Fargo a waiver of such noncompliance and entered into an amendment to amend the financial covenants regarding net income for the remainder of Fiscal 2016. |
If the Company had not obtained the waivers and amended the Agreements as described above, the Company would not have been able to draw additional funds under the Credit Facility. In addition, the Company has pledged its accounts receivables, inventories, equipment, patents and other assets as collateral for its Agreements, which would be subject to seizure by Wells Fargo if the Company were in default under the Agreements and unable to repay the indebtedness. Wells Fargo also has the option to terminate the Agreements or accelerate the indebtedness during a period of noncompliance. Based on the Company’s current forecasts, the Company believes it will maintain compliance with the covenants contained in the amended Agreements through the end of Fiscal 2016. If a covenant violation were to occur, the Company would attempt to negotiate a waiver of non-compliance from Wells Fargo.
The Company is required to maintain a Wells Fargo collection account for cash receipts on all of its accounts receivable. These amounts are immediately applied to reduce the outstanding amount on the Credit Facility. The floating rate for line of credit advances is the sum of daily three month London Inter—Bank Offer Rate (“LIBOR”), which interest rate shall change whenever daily three month LIBOR changes, plus applicable margin. Based on the revolving nature of the Company’s borrowings and payments, the Company classifies all outstanding amounts as current liabilities. The applicable margin varies based on net income and the minimum interest floor is set at $66,000 each calendar quarter. The Company’s borrowing rate was 4.4% and 4.0% at December 31, 2015 and March 31, 2015, respectively.
The Company is required to pay an annual unused line fee of one-quarter of one percent of the daily average of the maximum line amount and 1.5% interest with respect to each letter of credit issued by Wells Fargo. These amounts, if any, are also recorded as interest expense by the Company. As of December 31, 2015 and March 31, 2015, $9.6 million and $13.0 million in borrowings were outstanding, respectively, under the Credit Facility. As of December 31, 2015, approximately $9.4 million was available for additional borrowing. Interest expense related to the Credit Facility during the three months ended December 31, 2015 was $0.2 million, which includes $43,800 in amortization of deferred financing costs. Interest expense related to the Credit Facility during the three months ended December 31, 2014 was $0.1 million, which includes $47,000 in amortization of deferred financing costs. Interest expense related to the Credit Facility during the nine months ended December 31, 2015 was $0.5 million, which includes $0.1 million in amortization of deferred financing costs. Interest expense related to the Credit Facility during the nine months ended December 31, 2014 was $0.4 million, which includes $0.2 million in amortization of deferred financing costs.
|
X |
- References
+ Details
Name: |
us-gaap_DebtDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe 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.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5
+ Details
Name: |
us-gaap_DebtDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Accrued Warranty Reserve
|
9 Months Ended |
Dec. 31, 2015 |
Accrued Warranty Reserve |
|
Accrued Warranty Reserve |
12. Accrued Warranty Reserve
The Company provides for the estimated costs of warranties at the time revenue is recognized. The specific terms and conditions of those warranties vary depending upon the microturbine product sold and geography of sale. The Company’s product warranties generally start from the delivery date and continue for up to eighteen months. Factors that affect the Company’s warranty obligation include product failure rates, anticipated hours of product operations and costs of repair or replacement in correcting product failures. These factors are estimates that may change based on new information that becomes available each period. Similarly, the Company also accrues the estimated costs to address reliability repairs on products no longer in warranty when, in the Company’s judgment, and in accordance with a specific plan developed by the Company, it is prudent to provide such repairs. The Company assesses the adequacy of recorded warranty liabilities quarterly and makes adjustments to the liability as necessary. When the Company has sufficient evidence that product changes are altering the historical failure occurrence rates, the impact of such changes is then taken into account in estimating future warranty liabilities.
Changes in accrued warranty reserve during the nine months ended December 31, 2015 are as follows (in thousands):
Balance, beginning of the period
|
|
$
|
3,183
|
|
Standard warranty provision
|
|
282
|
|
Changes for accrual related to reliability repair programs
|
|
(16
|
)
|
Deductions for warranty claims
|
|
(1,249
|
)
|
|
|
|
|
Balance, end of the period
|
|
$
|
2,200
|
|
|
|
|
|
|
|
X |
- References
+ Details
Name: |
us-gaap_ProductWarrantiesDisclosuresAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249
+ Details
Name: |
us-gaap_ProductWarrantyDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Deferred Revenue
|
9 Months Ended |
Dec. 31, 2015 |
Deferred Revenue |
|
Deferred Revenue |
13. Deferred Revenue
Changes in deferred revenue during the nine months ended December 31, 2015 are as follows (in thousands):
FPP Balance, beginning of the period
|
|
$
|
2,491
|
|
FPP Billings
|
|
8,507
|
|
FPP Revenue recognized
|
|
(8,262
|
)
|
|
|
|
|
Balance attributed to FPP contracts
|
|
2,736
|
|
Deposits
|
|
1,222
|
|
|
|
|
|
Deferred revenue balance, end of the period
|
|
$
|
3,958
|
|
|
|
|
|
|
Comprehensive Factory Protection Plan (“FPP”) deferred revenue represents the unearned portion of our billed agreements. FPP agreements are generally paid quarterly in advance with revenue recognized on a straight line basis over the contract period. Deposits are primarily non-refundable cash payments from distributors for future orders.
|
X |
- References
+ Details
Name: |
us-gaap_DeferredRevenueDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 605 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 13.A.3(b).Q1(c),(b).Q2,(c).Q3) -URI http://asc.fasb.org/extlink&oid=27012821&loc=d3e214044-122780
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 8 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6935-107765
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 13 -Section A
+ Details
Name: |
us-gaap_DeferredRevenueDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Other Current Liabilities
|
9 Months Ended |
Dec. 31, 2015 |
Other Current Liabilities |
|
Other Current Liabilities |
14. Other Current Liabilities
The Company is a party to a Development and License Agreement with Carrier Corporation (“Carrier”) regarding the payment of royalties on the sale of each of the Company’s 200 kilowatt (“C200”) microturbines. Carrier earned $0.3 million and $0.4 million in royalties for C200 and C1000 Series system sales during the three months ended December 31, 2015 and 2014, respectively. Carrier earned $0.9 million and $1.2 million in royalties for C200 and C1000 system sales during the nine months ended December 31, 2015 and 2014, respectively. Earned royalties of approximately $0.3 million and $0.4 million were unpaid as of December 31, 2015 and March 31, 2015, respectively, and are included in accrued expenses in the accompanying balance sheets.
|
X |
- References
+ Details
Name: |
us-gaap_OtherLiabilitiesDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for other liabilities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 24 -Article 5
+ Details
Name: |
us-gaap_OtherLiabilitiesDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Commitments and Contingencies
|
9 Months Ended |
Dec. 31, 2015 |
Commitments and Contingencies |
|
Commitments and Contingencies |
15. Commitments and Contingencies
Purchase Commitments
As of December 31, 2015, the Company had firm commitments to purchase inventories of approximately $24.2 million through Fiscal 2018. Certain inventory delivery dates and related payments are not firmly scheduled; therefore, amounts under these firm purchase commitments will be payable upon the receipt of the related inventories.
Lease Commitments
The Company leases offices and manufacturing facilities under various non-cancelable operating leases expiring at various times through the fiscal year ending March 31, 2020. All of the leases require the Company to pay maintenance, insurance and property taxes. The lease agreements for primary office and manufacturing facilities provide for rent escalation over the lease term and renewal options for five-year periods. Rent expense is recognized on a straight-line basis over the term of the lease. The difference between rent expense recorded and the amount paid is credited or charged to deferred rent, which is included in other long-term liabilities in the accompanying balance sheets. The balance of deferred rent was approximately $0.2 million as of each of December 31, 2015 and March 31, 2015. Rent expense was approximately $0.6 million during each of the three months ended December 31, 2015 and 2014. Rent expense was approximately $1.9 million and $1.8 million during the nine months ended December 31, 2015 and 2014, respectively.
Other Commitments
In September 2010, the Company was awarded a grant from the U.S. Department of Energy (“DOE”) for the research, development and testing of a more efficient microturbine CHP system. Part of the improved efficiency will come from an improved microturbine design, with a projected electrical efficiency of 42% and power output of 370 kW. The contract was over a five-year period and was completed on September 2015. The project was estimated to cost approximately $11.7 million. The DOE was to contribute $5.0 million toward the project, and the Company was to incur approximately $6.7 million in research and development expense. The Company billed the DOE under the contract for this project a cumulative amount of $4.2 million through September 30, 2015, the date on which the contract was completed.
In May 2014, the Company began working with the DOE through Oak Ridge National Laboratory (“ORNL”) on an advanced Alumina Forming Austenitic stainless steel material program. ORNL will contribute 100% of the $0.2 million project cost. The contract has a term of 27 months and is expected to be completed by July 31, 2016. The Company billed ORNL a cumulative amount of $0.1 million under the contract for this project through December 31, 2015.
The Company has agreements with certain of its distributors requiring that if the Company renders parts obsolete in inventories the distributors own and hold in support of their obligations to serve fielded microturbines, then the Company is required to replace the affected stock at no cost to the distributors. While the Company has never incurred costs or obligations for these types of replacements, it is possible that future changes in the Company’s product technology could result and yield costs to the Company if significant amounts of inventory are held at distributors. As of December 31, 2015, no significant inventories were held at distributors.
Legal Matters
Two putative securities class action complaints were filed against the Company and certain of its current and former officers in the United States District Court for the Central District of California under the following captions: David Kinney, etc. v. Capstone Turbine, et al., No. 2:15-CV-08914 on November 16, 2015 (the “Kinney Complaint”) and Kevin M. Grooms, etc. v. Capstone Turbine, et al., No. 2:15-CV-09155 on December 18, 2015 (the “Grooms Complaint”).
The putative class in the Kinney Complaint is comprised of all purchasers of the Company’s securities between November 7, 2013 and November 5, 2015. The Kinney Complaint alleges material misrepresentations and omissions in public statements regarding BPC and the likelihood that BPC would not be able to fulfill many legal and financial obligations to the Company. The Kinney Complaint also alleges that the Company’s financial statements were not appropriately adjusted in light of this situation, and were not maintained in accordance with GAAP, and that the Company lacked adequate internal controls over accounting. The Kinney Complaint alleges that these public statements and accounting irregularities constituted violations by all named defendants of Section 10(b) of the Exchange Act, and Rule 10b-5 thereunder, as well as violations of Section 20(a) of the Exchange Act by the individual defendants. The Grooms Complaint makes allegations and claims that are substantially identical to those in the Kinney Complaint, and both complaints seek compensatory damages of an undisclosed amount. On January 16, 2016, several shareholders filed motions to consolidate the Kinney and Grooms actions and for appointment as lead plaintiff. The Court has not yet issued a decision on those motions. The Company has not recorded any liability as of December 31, 2015 since any potential loss is not probable or reasonably estimable given the preliminary nature of the proceedings.
|
X |
- References
+ Details
Name: |
us-gaap_CommitmentsAndContingenciesDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for commitments and contingencies.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14435-108349
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308
+ Details
Name: |
us-gaap_CommitmentsAndContingenciesDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Net Loss Per Common Share
|
9 Months Ended |
Dec. 31, 2015 |
Net Loss Per Common Share |
|
Net Loss Per Common Share |
16. Net Loss Per Common Share
Basic loss per share of common stock is computed using the weighted average number of common shares outstanding for the period. Diluted loss per share is computed without consideration to potentially dilutive instruments because the Company incurred losses in the three months ended December 31, 2015 which would make these instruments anti-dilutive. As of December 31, 2015 and 2014, the number of anti-dilutive stock options and restricted stock units excluded from diluted net loss per common share computations was approximately 0.8 million and 0.7 million, respectively.
|
X |
- References
+ Details
Name: |
us-gaap_EarningsPerShareAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for earnings per share.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_EarningsPerShareTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Inventories (Tables)
|
9 Months Ended |
Dec. 31, 2015 |
Inventories |
|
Summary of inventory |
Inventories are valued on a first in first out (“FIFO”) basis and lower of cost or market net of provisions for slow moving, excess, obsolete or otherwise impaired inventories and consisted of the following as of December 31, 2015 and March 31, 2015 (in thousands):
|
|
December 31, 2015
|
|
March 31, 2015
|
|
|
|
|
|
|
|
Raw materials
|
|
$
|
20,671
|
|
$
|
19,955
|
|
Work in process
|
|
615
|
|
—
|
|
Finished goods
|
|
1,432
|
|
5,400
|
|
|
|
|
|
|
|
Total
|
|
22,718
|
|
25,355
|
|
Less non-current portion
|
|
(2,287
|
)
|
(2,258
|
)
|
|
|
|
|
|
|
Current portion
|
|
$
|
20,431
|
|
$
|
23,097
|
|
|
|
|
|
|
|
|
|
|
Schedule of expected usage for non-current inventory |
The Company expects to use the non-current portion of the inventories on hand as of December 31, 2015 over the periods presented in the following table (in thousands):
Expected Period of Use
|
|
Non-Current Inventory Balance Expected to be Used
|
|
|
|
|
|
13 to 24 months
|
|
$
|
1,612
|
|
25 to 36 months
|
|
566
|
|
37 to 48 months
|
|
109
|
|
|
|
|
|
Total
|
|
$
|
2,287
|
|
|
|
|
|
|
|
X |
- References
+ Details
Name: |
us-gaap_InventoryDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 2 -Paragraph 6 -Subparagraph a,b,c -Article 5
+ Details
Name: |
us-gaap_ScheduleOfInventoryCurrentTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of inventories not expected to be converted to cash, sold or exchanged within the normal operating cycle including inventoried costs relating to long-term contracts or programs.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 2 -Paragraph 6 -Subparagraph a,b,c -Article 5
+ Details
Name: |
us-gaap_ScheduleOfInventoryNoncurrentTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Property, Plant and Equipment (Tables)
|
9 Months Ended |
Dec. 31, 2015 |
Property, Plant and Equipment |
|
Schedule of property, plant and equipment |
Property, plant and equipment consisted of the following (in thousands):
|
|
December 31, 2015
|
|
March 31, 2015
|
|
|
|
|
|
|
|
Machinery, rental equipment, equipment, automobiles and furniture
|
|
$
|
19,688
|
|
$
|
20,873
|
|
Leasehold improvements
|
|
9,855
|
|
9,760
|
|
Molds and tooling
|
|
3,195
|
|
3,722
|
|
|
|
|
|
|
|
|
|
32,738
|
|
34,355
|
|
Less, accumulated depreciation
|
|
(28,884
|
)
|
(30,832
|
)
|
|
|
|
|
|
|
Total property, plant and equipment, net
|
|
$
|
3,854
|
|
$
|
3,523
|
|
|
|
|
|
|
|
|
|
|
X |
- References
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 13 -Subparagraph b -Article 5
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Intangible Assets (Tables)
|
9 Months Ended |
Dec. 31, 2015 |
Intangible Assets |
|
Schedule of intangible assets |
Intangible assets consisted of the following (in thousands):
|
|
December 31, 2015
|
|
|
|
Weighted Average Amortization Period
|
|
Intangible Assets, Gross
|
|
Accumulated Amortization
|
|
Intangible Assets, Net
|
|
Manufacturing license
|
|
17 years
|
|
$
|
3,700
|
|
$
|
3,622
|
|
$
|
78
|
|
Technology
|
|
10 years
|
|
2,240
|
|
1,325
|
|
915
|
|
Parts and service customer relationships
|
|
5 years
|
|
1,080
|
|
1,080
|
|
—
|
|
TA100 customer relationships
|
|
2 years
|
|
617
|
|
617
|
|
—
|
|
Backlog
|
|
Various
|
|
490
|
|
351
|
|
139
|
|
Trade name
|
|
1.2 years
|
|
69
|
|
69
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
$
|
8,196
|
|
$
|
7,064
|
|
$
|
1,132
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2015
|
|
|
|
Weighted Average Amortization Period
|
|
Intangible Assets, Gross
|
|
Accumulated Amortization
|
|
Intangible Assets, Net
|
|
Manufacturing license
|
|
17 years
|
|
$
|
3,700
|
|
$
|
3,585
|
|
$
|
115
|
|
Technology
|
|
10 years
|
|
2,240
|
|
1,157
|
|
1,083
|
|
Parts and service customer relationships
|
|
5 years
|
|
1,080
|
|
1,080
|
|
—
|
|
TA100 customer relationships
|
|
2 years
|
|
617
|
|
617
|
|
—
|
|
Backlog
|
|
Various
|
|
490
|
|
351
|
|
139
|
|
Trade name
|
|
1.2 years
|
|
69
|
|
69
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
$
|
8,196
|
|
$
|
6,859
|
|
$
|
1,337
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule of expected future amortization expense of intangible assets |
Expected future amortization expense of intangible assets as of December 31, 2015 is as follows (in thousands):
Year Ending March 31,
|
|
Amortization Expense
|
|
2016 (remainder of fiscal year)
|
|
$
|
127
|
|
2017
|
|
352
|
|
2018
|
|
242
|
|
2019
|
|
224
|
|
2020
|
|
187
|
|
Thereafter
|
|
—
|
|
|
|
|
|
Total expected future amortization
|
|
$
|
1,132
|
|
|
|
|
|
|
|
X |
- References
+ Details
Name: |
us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275
+ Details
Name: |
us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275
+ Details
Name: |
us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Stock-Based Compensation (Tables)
|
9 Months Ended |
Dec. 31, 2015 |
Stockholders' Equity |
|
Summary of stock-based compensation expense by statement of operations line item |
The following table summarizes, by statement of operations line item, stock-based compensation expense for the three and nine months ended December 31, 2015 (in thousands):
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
Cost of goods sold
|
|
$
|
63
|
|
$
|
33
|
|
$
|
132
|
|
$
|
85
|
|
Research and development
|
|
47
|
|
84
|
|
56
|
|
244
|
|
Selling, general and administrative
|
|
546
|
|
454
|
|
1,316
|
|
1,466
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense
|
|
$
|
656
|
|
$
|
571
|
|
$
|
1,504
|
|
$
|
1,795
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Summary of stock option activity |
|
|
Shares
|
|
Weighted Average Exercise Price
|
|
Weighted- Average Remaining Contractual Term (in years)
|
|
Aggregate Intrinsic Value
|
|
Options outstanding at March 31, 2015
|
|
658,171
|
|
$
|
25.57
|
|
|
|
|
|
Granted
|
|
29,225
|
|
12.80
|
|
|
|
|
|
Exercised
|
|
—
|
|
—
|
|
|
|
|
|
Forfeited, cancelled or expired
|
|
(151,257
|
)
|
34.72
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at December 31, 2015
|
|
536,139
|
|
$
|
22.29
|
|
4.3
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options fully vested at December 31, 2015 and those expected to vest beyond December 31, 2015
|
|
536,139
|
|
$
|
22.29
|
|
4.3
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options exercisable at December 31, 2015
|
|
452,593
|
|
$
|
22.73
|
|
3.5
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule of weighted-average assumptions used to calculate the estimated fair value of each stock option |
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
Risk-free interest rates
|
|
—
|
|
—
|
|
1.5
|
%
|
1.8
|
%
|
Expected lives (in years)
|
|
—
|
|
—
|
|
5.7
|
|
5.7
|
|
Dividend yield
|
|
—
|
|
—
|
|
—
|
%
|
—
|
%
|
Expected volatility
|
|
—
|
|
—
|
|
59.0
|
%
|
77.0
|
%
|
Weighted average grant date fair value of options granted during the period
|
|
—
|
|
—
|
|
$
|
6.84
|
|
$
|
18.79
|
|
|
Schedule of addition information on stock options |
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
Stock option compensation expense (in thousands)
|
|
$
|
135
|
|
$
|
239
|
|
$
|
409
|
|
$
|
834
|
|
Cash received for exercise price (in thousands)
|
|
$
|
—
|
|
$
|
7
|
|
$
|
—
|
|
$
|
302
|
|
Intrinsic value (in thousands)
|
|
$
|
—
|
|
$
|
1
|
|
$
|
—
|
|
$
|
129
|
|
Weighted average grant date fair value of options exercised during the period
|
|
$
|
—
|
|
$
|
15.20
|
|
$
|
—
|
|
$
|
26.75
|
|
|
Summary of restricted stock unit activity |
|
|
Shares
|
|
Weighted Average Grant-Date Fair Value
|
|
Nonvested restricted stock units outstanding at March 31, 2015
|
|
93,383
|
|
$
|
23.76
|
|
|
|
|
|
|
|
Granted
|
|
234,046
|
|
3.86
|
|
Vested and issued
|
|
(36,098
|
)
|
24.47
|
|
Forfeited
|
|
(17,034
|
)
|
21.39
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonvested restricted stock units outstanding at December 31, 2015
|
|
274,297
|
|
$
|
6.83
|
|
|
|
|
|
|
|
|
Restricted stock units expected to vest beyond December 31, 2015
|
|
274,286
|
|
$
|
6.83
|
|
|
|
|
|
|
|
|
|
Schedule of additional information on restricted stock units |
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
Restricted stock units compensation expense (in thousands)
|
|
$
|
204
|
|
$
|
303
|
|
$
|
715
|
|
$
|
873
|
|
Aggregate fair value of restricted stock units vested and issued (in thousands)
|
|
$
|
4
|
|
$
|
28
|
|
$
|
344
|
|
$
|
1,184
|
|
Weighted average grant date fair value of restricted stock units granted during the period
|
|
$
|
1.19
|
|
$
|
19.60
|
|
$
|
3.34
|
|
$
|
27.43
|
|
|
Schedule of restricted stock award activity |
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
Restricted stock awards compensation expense (in thousands)
|
|
$
|
317
|
|
$
|
29
|
|
$
|
380
|
|
$
|
88
|
|
Restricted stock awards granted
|
|
255,912
|
|
1,814
|
|
263,594
|
|
3,956
|
|
Weighted average grant date fair value of restricted stock awards granted during the period
|
|
$
|
1.24
|
|
$
|
16.20
|
|
$
|
1.44
|
|
$
|
22.28
|
|
|
Schedule of nonqualified common stock options and restricted stock units |
Outside of 2000 Plan
|
|
Options
|
|
RSUs
|
|
Executive Vice President and Chief Executive Officer
|
|
100,000
|
|
—
|
|
Executive Vice President of Sales and Marketing
|
|
42,500
|
|
—
|
|
Vice President of Operations
|
|
12,500
|
|
2,343
|
|
|
|
|
|
|
|
Outstanding stock outside of 2000 Plan
|
|
155,000
|
|
2,343
|
|
|
|
|
|
|
|
|
X |
- DefinitionTabular disclosure of restricted stock compensation expense, aggregate fair value of restricted stock units vested and issued and weighted average grant date fair value of restricted stock units granted during the period.
+ References
+ Details
Name: |
cpst_ScheduleOfAdditionalInformationOnRestrictedStockUnitsTableTextBlock |
Namespace Prefix: |
cpst_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of stock option compensation expense, cash received for exercise price, intrinsic value and weighted average grant date fair value of options exercised during the period.
+ References
+ Details
Name: |
cpst_ScheduleOfAdditionalInformationOnStockOptionsTableTextBlock |
Namespace Prefix: |
cpst_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of non-qualified common stock options and restricted stock units.
+ References
+ Details
Name: |
cpst_ScheduleOfNonqualifiedCommonStockOptionsAndRestrictedStockUnitsTableTextBlock |
Namespace Prefix: |
cpst_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of restricted stock awards compensation expense, restricted stock awards granted and weighted average grant date fair value of restricted stock awards granted during the period.
+ References
+ Details
Name: |
cpst_ScheduleOfShareBasedCompensationRestrictedStockAwardActivityTableTextBlock |
Namespace Prefix: |
cpst_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_EquityAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 14.F) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 -Section F
+ Details
Name: |
us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Fair Value Measurements (Tables)
|
9 Months Ended |
Dec. 31, 2015 |
Fair Value Measurements |
|
Schedule of assets and liabilities measured at fair value on a recurring basis |
The table below presents our assets and liabilities that are measured at fair value on a recurring basis at December 31, 2015 and are categorized using the fair value hierarchy (in thousands):
|
|
Fair Value Measurements at December 31, 2015
|
|
|
|
Total
|
|
Quoted Prices in Active Markets for Identical Assets (Level 1)
|
|
Significant Other Observable Inputs (Level 2)
|
|
Significant Unobservable Inputs (Level 3)
|
|
Cash Equivalents
|
|
$
|
5,001
|
|
$
|
5,001
|
|
$
|
—
|
|
$
|
—
|
|
Restricted Cash
|
|
$
|
5,000
|
|
$
|
5,000
|
|
$
|
—
|
|
$
|
—
|
|
The table below presents our assets and liabilities that are measured at fair value on a recurring basis during the fiscal year ended March 31, 2015 and are categorized using the fair value hierarchy (in thousands):
|
|
Fair Value Measurements at March 31, 2015
|
|
|
|
Total
|
|
Quoted Prices in Active Markets for Identical Assets (Level 1)
|
|
Quoted Prices in Active Markets for Identical Assets (Level 2)
|
|
Significant Unobservable Inputs (Level 3)
|
|
Cash Equivalents
|
|
$
|
13,737
|
|
$
|
13,737
|
|
$
|
—
|
|
$
|
—
|
|
|
Schedule of carrying values and estimated fair values of obligations under the revolving credit facility |
The carrying values and estimated fair values of these obligations are as follows (in thousands):
|
|
As of
|
|
As of
|
|
|
|
December 31, 2015
|
|
March 31, 2015
|
|
|
|
Carrying
|
|
Estimated
|
|
Carrying
|
|
Estimated
|
|
|
|
Value
|
|
Fair Value
|
|
Value
|
|
Fair Value
|
|
Obligations under credit facility
|
|
$
|
9,600
|
|
$
|
9,600
|
|
$
|
12,953
|
|
$
|
12,953
|
|
|
X |
- DefinitionTabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13476-108611
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13467-108611
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13433-108611
+ Details
Name: |
us-gaap_FairValueByBalanceSheetGroupingTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_FairValueDisclosuresAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258
+ Details
Name: |
us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Accrued Warranty Reserve (Tables)
|
9 Months Ended |
Dec. 31, 2015 |
Accrued Warranty Reserve |
|
Schedule of changes in accrued warranty reserve |
Changes in accrued warranty reserve during the nine months ended December 31, 2015 are as follows (in thousands):
Balance, beginning of the period
|
|
$
|
3,183
|
|
Standard warranty provision
|
|
282
|
|
Changes for accrual related to reliability repair programs
|
|
(16
|
)
|
Deductions for warranty claims
|
|
(1,249
|
)
|
|
|
|
|
Balance, end of the period
|
|
$
|
2,200
|
|
|
|
|
|
|
|
X |
- References
+ Details
Name: |
us-gaap_ProductWarrantiesDisclosuresAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249
+ Details
Name: |
us-gaap_ScheduleOfProductWarrantyLiabilityTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Deferred Revenue (Tables)
|
9 Months Ended |
Dec. 31, 2015 |
Deferred Revenue |
|
Schedule of changes in deferred revenue |
Changes in deferred revenue during the nine months ended December 31, 2015 are as follows (in thousands):
FPP Balance, beginning of the period
|
|
$
|
2,491
|
|
FPP Billings
|
|
8,507
|
|
FPP Revenue recognized
|
|
(8,262
|
)
|
|
|
|
|
Balance attributed to FPP contracts
|
|
2,736
|
|
Deposits
|
|
1,222
|
|
|
|
|
|
Deferred revenue balance, end of the period
|
|
$
|
3,958
|
|
|
|
|
|
|
|
X |
- DefinitionTabular disclosure of changes in deferred revenue.
+ References
+ Details
Name: |
cpst_ScheduleOfChangesInDeferredRevenueTableTextBlock |
Namespace Prefix: |
cpst_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_DeferredRevenueDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Basis of Presentationtion (Details) - USD ($) $ in Thousands |
3 Months Ended |
9 Months Ended |
|
|
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Mar. 31, 2015 |
Mar. 31, 2014 |
Basis of Presentation |
|
|
|
|
|
|
Loss from operations |
$ (5,856)
|
$ (3,757)
|
$ (19,325)
|
$ (16,787)
|
|
|
Cash and cash equivalents |
13,470
|
$ 40,890
|
13,470
|
$ 40,890
|
$ 32,221
|
$ 27,859
|
Cash and cash equivalents including restricted cash |
18,500
|
|
18,500
|
|
|
|
Cash and cash equivalents and restricted cash excluding outstanding credit facility |
$ 8,900
|
|
$ 8,900
|
|
$ 19,300
|
|
X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions and restricted cash balances. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation and amounts outstanding under credit facility.
+ References
+ Details
Name: |
cpst_CashAndCashEquivalentsAndRestrictedCashExcludingOutstandingCreditFacility |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions and restricted cash balances. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation
+ References
+ Details
Name: |
cpst_CashAndCashEquivalentsIncludingRestrictedCashAtCarryingValue |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash -URI http://asc.fasb.org/extlink&oid=6506951
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3044-108585
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash Equivalents -URI http://asc.fasb.org/extlink&oid=6507016
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 1 -Article 5
+ Details
Name: |
us-gaap_CashAndCashEquivalentsAtCarryingValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe net result for the period of deducting operating expenses from operating revenues.
+ References
+ Details
Name: |
us-gaap_OperatingIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
X |
- DefinitionFace amount or stated value per share of common stock.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5
+ Details
Name: |
us-gaap_CommonStockParOrStatedValuePerShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionRatio applied to the conversion of stock split, for example but not limited to, one share converted to two or two shares converted to one.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Stock Split -URI http://asc.fasb.org/extlink&oid=6525746
+ Details
Name: |
us-gaap_StockholdersEquityNoteStockSplitConversionRatio1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:pureItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_StatementEquityComponentsAxis=cpst_ReverseStockSplitMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
X |
- DefinitionAmount of debt issuance costs (for example, but not limited to, legal, accounting, broker, and regulatory fees).
+ References
+ Details
Name: |
us-gaap_DebtIssuanceCosts |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Customer Concentrations and Accounts Receivable (Details) - USD ($)
|
3 Months Ended |
9 Months Ended |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Mar. 31, 2015 |
Customer Concentrations and Accounts Receivable |
|
|
|
|
|
Bad Debt Expense |
$ 200,000
|
$ 43,000
|
$ 200,000
|
$ 3,100,000
|
|
Revenue | Customer concentrations | E-Finity |
|
|
|
|
|
Customer Concentrations and Accounts Receivable |
|
|
|
|
|
Concentration percentage |
17.00%
|
|
11.00%
|
10.00%
|
|
Revenue | Customer concentrations | Critchfield Pacific Incorporated |
|
|
|
|
|
Customer Concentrations and Accounts Receivable |
|
|
|
|
|
Concentration percentage |
13.00%
|
|
|
|
|
Revenue | Customer concentrations | Horizon |
|
|
|
|
|
Customer Concentrations and Accounts Receivable |
|
|
|
|
|
Concentration percentage |
12.00%
|
17.00%
|
16.00%
|
20.00%
|
|
Revenue | Customer concentrations | DTC |
|
|
|
|
|
Customer Concentrations and Accounts Receivable |
|
|
|
|
|
Concentration percentage |
10.00%
|
12.00%
|
|
|
|
Revenue | Customer concentrations | Optimal Group |
|
|
|
|
|
Customer Concentrations and Accounts Receivable |
|
|
|
|
|
Concentration percentage |
|
11.00%
|
10.00%
|
|
|
Revenue | Customer concentrations | BPC |
|
|
|
|
|
Customer Concentrations and Accounts Receivable |
|
|
|
|
|
Concentration percentage |
|
|
|
15.00%
|
|
Net accounts receivable | Credit concentration | E-Finity |
|
|
|
|
|
Customer Concentrations and Accounts Receivable |
|
|
|
|
|
Concentration percentage |
|
|
16.00%
|
|
|
Net accounts receivable | Credit concentration | DTC |
|
|
|
|
|
Customer Concentrations and Accounts Receivable |
|
|
|
|
|
Concentration percentage |
|
|
19.00%
|
|
|
Net accounts receivable | Credit concentration | Optimal Group |
|
|
|
|
|
Customer Concentrations and Accounts Receivable |
|
|
|
|
|
Concentration percentage |
|
|
|
|
17.00%
|
Net accounts receivable | Credit concentration | RSP Systems |
|
|
|
|
|
Customer Concentrations and Accounts Receivable |
|
|
|
|
|
Concentration percentage |
|
|
16.00%
|
|
|
Net accounts receivable | Credit concentration | Serba Dinamik Sdn Bhd |
|
|
|
|
|
Customer Concentrations and Accounts Receivable |
|
|
|
|
|
Concentration percentage |
|
|
11.00%
|
|
|
X |
- DefinitionAmount of bad debt expense charged to operations related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable.
+ References
+ Details
Name: |
cpst_BadDebtExpense |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
+ Details
Name: |
us-gaap_ConcentrationRiskLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6351-108592
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13531-108611
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6404-108592
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13537-108611
+ Details
Name: |
us-gaap_ConcentrationRiskPercentage1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueGoodsNetMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByTypeAxis=us-gaap_CustomerConcentrationRiskMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_MajorCustomersAxis=cpst_EFinityDistributedGenerationMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_MajorCustomersAxis=cpst_CritchfieldPacificIncorporatedMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_MajorCustomersAxis=cpst_HorizonPowerSystemsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_MajorCustomersAxis=cpst_DTCSolucionesInmobiliariasMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_MajorCustomersAxis=cpst_OptimalGroupMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_MajorCustomersAxis=cpst_BPCEngineeringMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_AccountsReceivableMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByTypeAxis=us-gaap_CreditConcentrationRiskMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_MajorCustomersAxis=cpst_RspSystemsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_MajorCustomersAxis=cpst_SerbaDinamikSdnBhdMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
Inventories - Current (Details) - USD ($) $ in Thousands |
9 Months Ended |
|
Dec. 31, 2015 |
Mar. 31, 2015 |
Inventories |
|
|
Raw materials |
$ 20,671
|
$ 19,955
|
Work in process |
615
|
|
Finished goods |
1,432
|
5,400
|
Total |
22,718
|
25,355
|
Less non-current portion |
(2,287)
|
(2,258)
|
Current portion |
$ 20,431
|
$ 23,097
|
Inventory Noncurrent Weighted Average Useful Life |
1 year 9 months 18 days
|
|
X |
- DefinitionIncluding current and noncurrent portions, aggregate carrying amount of inventories, less all valuation and other allowances, as of the balance sheet date.
+ References
+ Details
Name: |
cpst_InventoryCurrentAndNoncurrentNet |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionRepresents the weighted average useful life of the noncurrent inventories.
+ References
+ Details
Name: |
cpst_InventoryNoncurrentWeightedAverageUsefulLife |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_InventoryDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCarrying amount, net of valuation reserves and adjustments, as of the balance sheet date of merchandise or goods held by the company that are readily available for sale.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.BB) -URI http://asc.fasb.org/extlink&oid=27011343&loc=d3e100047-122729
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section BB
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Article 5
+ Details
Name: |
us-gaap_InventoryFinishedGoodsNetOfReserves |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(a)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -SubTopic 10 -Section 35 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6386567&loc=d3e3927-108312
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
+ Details
Name: |
us-gaap_InventoryNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionInventories not expected to be converted to cash, sold or exchanged within the normal operating cycle.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(d)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph d -Article 5
+ Details
Name: |
us-gaap_InventoryNoncurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionCarrying amount, net of valuation reserves and adjustments, as of the balance sheet date of unprocessed items to be consumed in the manufacturing or production process.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.BB) -URI http://asc.fasb.org/extlink&oid=27011343&loc=d3e100047-122729
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(a)(4)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Article 5
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section BB
+ Details
Name: |
us-gaap_InventoryRawMaterialsNetOfReserves |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionCarrying amount, net of reserves and adjustments, as of the balance sheet date of merchandise or goods which are partially completed. This inventory is generally comprised of raw materials, labor and factory overhead costs, which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(a)(3)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.BB) -URI http://asc.fasb.org/extlink&oid=27011343&loc=d3e100047-122729
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Article 5
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section BB
+ Details
Name: |
us-gaap_InventoryWorkInProcessNetOfReserves |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.3.1.900
X |
- DefinitionRepresents the portion of non-current inventory that the entity expects to convert to cash, sell or exchange within 13-24 months after the balance sheet date.
+ References
+ Details
Name: |
cpst_InventoryNoncurrentPortionToBeConvertedWithinThirteenToTwentyFourMonths |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionRepresents the portion of non-current inventory that the entity expects to convert to cash, sell or exchange within 37-48 months after the balance sheet date.
+ References
+ Details
Name: |
cpst_InventoryNoncurrentPortionToBeConvertedWithinThirtySevenToFortyEightMonths |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionRepresents the portion of non-current inventory that the entity expects to convert to cash, sell or exchange within 25-36 months after the balance sheet date.
+ References
+ Details
Name: |
cpst_InventoryNoncurrentPortionToBeConvertedWithinTwentyFiveToThirtySixMonths |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_InventoryDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionInventories not expected to be converted to cash, sold or exchanged within the normal operating cycle.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(d)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph d -Article 5
+ Details
Name: |
us-gaap_InventoryNoncurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.3.1.900
Property, Plant and Equipment (Details) - USD ($) $ in Thousands |
3 Months Ended |
9 Months Ended |
|
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Mar. 31, 2015 |
Property, Plant and Equipment |
|
|
|
|
|
Depreciation expense |
$ 300
|
$ 300
|
$ 1,000
|
$ 900
|
|
Total property, plant and equipment, gross |
32,738
|
|
32,738
|
|
$ 34,355
|
Less accumulated depreciation |
(28,884)
|
|
(28,884)
|
|
(30,832)
|
Total property, plant and equipment, net |
3,854
|
|
3,854
|
|
3,523
|
Machinery, rental equipment, equipment, automobiles and furniture |
|
|
|
|
|
Property, Plant and Equipment |
|
|
|
|
|
Total property, plant and equipment, gross |
19,688
|
|
19,688
|
|
20,873
|
Leasehold improvements |
|
|
|
|
|
Property, Plant and Equipment |
|
|
|
|
|
Total property, plant and equipment, gross |
9,855
|
|
9,855
|
|
9,760
|
Molds and tooling |
|
|
|
|
|
Property, Plant and Equipment |
|
|
|
|
|
Total property, plant and equipment, gross |
$ 3,195
|
|
$ 3,195
|
|
$ 3,722
|
X |
- DefinitionAmount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 14 -Article 5
+ Details
Name: |
us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585
+ Details
Name: |
us-gaap_Depreciation |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAmount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentGross |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 13 -Subparagraph a -Article 5
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 8 -Article 7
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- Details
Name: |
us-gaap_PropertyPlantAndEquipmentByTypeAxis=cpst_MachineryRentalEquipmentEquipmentAutomobileAndFurnitureMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
Intangible Assets (Details) - USD ($) $ in Thousands |
3 Months Ended |
9 Months Ended |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Mar. 31, 2015 |
Intangible Assets |
|
|
|
|
|
Amortization expense |
$ 100
|
$ 100
|
$ 200
|
$ 400
|
|
Intangible Assets, Gross |
8,196
|
|
8,196
|
|
$ 8,196
|
Accumulated Amortization |
7,064
|
|
7,064
|
|
6,859
|
Total expected future amortization |
1,132
|
|
1,132
|
|
1,337
|
Expected future amortization expense of intangible assets |
|
|
|
|
|
2016 (remainder of fiscal year) |
127
|
|
127
|
|
|
2017 |
352
|
|
352
|
|
|
2018 |
242
|
|
242
|
|
|
2019 |
224
|
|
224
|
|
|
2020 |
187
|
|
187
|
|
|
Total expected future amortization |
1,132
|
|
$ 1,132
|
|
$ 1,337
|
Manufacturing license |
|
|
|
|
|
Intangible Assets |
|
|
|
|
|
Weighted Average Amortization Period |
|
|
17 years
|
|
17 years
|
Intangible Assets, Gross |
3,700
|
|
$ 3,700
|
|
$ 3,700
|
Accumulated Amortization |
3,622
|
|
3,622
|
|
3,585
|
Total expected future amortization |
78
|
|
78
|
|
115
|
Expected future amortization expense of intangible assets |
|
|
|
|
|
Total expected future amortization |
78
|
|
$ 78
|
|
$ 115
|
Technology |
|
|
|
|
|
Intangible Assets |
|
|
|
|
|
Weighted Average Amortization Period |
|
|
10 years
|
|
10 years
|
Intangible Assets, Gross |
2,240
|
|
$ 2,240
|
|
$ 2,240
|
Accumulated Amortization |
1,325
|
|
1,325
|
|
1,157
|
Total expected future amortization |
915
|
|
915
|
|
1,083
|
Expected future amortization expense of intangible assets |
|
|
|
|
|
Total expected future amortization |
915
|
|
$ 915
|
|
$ 1,083
|
Parts and service customer relationships |
|
|
|
|
|
Intangible Assets |
|
|
|
|
|
Weighted Average Amortization Period |
|
|
5 years
|
|
5 years
|
Intangible Assets, Gross |
1,080
|
|
$ 1,080
|
|
$ 1,080
|
Accumulated Amortization |
1,080
|
|
$ 1,080
|
|
$ 1,080
|
TA100 customer relationships |
|
|
|
|
|
Intangible Assets |
|
|
|
|
|
Weighted Average Amortization Period |
|
|
2 years
|
|
2 years
|
Intangible Assets, Gross |
617
|
|
$ 617
|
|
$ 617
|
Accumulated Amortization |
617
|
|
617
|
|
617
|
Backlog |
|
|
|
|
|
Intangible Assets |
|
|
|
|
|
Intangible Assets, Gross |
490
|
|
490
|
|
490
|
Accumulated Amortization |
351
|
|
351
|
|
351
|
Total expected future amortization |
139
|
|
139
|
|
139
|
Expected future amortization expense of intangible assets |
|
|
|
|
|
Total expected future amortization |
139
|
|
$ 139
|
|
$ 139
|
Trade name |
|
|
|
|
|
Intangible Assets |
|
|
|
|
|
Weighted Average Amortization Period |
|
|
1 year 2 months 12 days
|
|
1 year 2 months 12 days
|
Intangible Assets, Gross |
69
|
|
$ 69
|
|
$ 69
|
Accumulated Amortization |
$ 69
|
|
$ 69
|
|
$ 69
|
X |
- DefinitionWeighted average amortization period of finite-lived intangible assets acquired either individually or as part of a group of assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275
+ Details
Name: |
us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6388964&loc=d3e16225-109274
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275
+ Details
Name: |
us-gaap_AmortizationOfIntangibleAssets |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAccumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275
+ Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275
+ Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275
+ Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275
+ Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275
+ Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275
+ Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275
+ Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsGross |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
+ Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionSum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6388964&loc=d3e16212-109274
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph ((a)(1),(b)) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275
+ Details
Name: |
us-gaap_IntangibleAssetsNetExcludingGoodwill |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_LicensingAgreementsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=cpst_TechnologyMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=cpst_PartsAndServiceCustomerRelationshipsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=cpst_TA100CustomerRelationshipsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_OrderOrProductionBacklogMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_TradeNamesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
Intangible Assets - Solar Turbines (Details) - Solar - USD ($)
|
3 Months Ended |
9 Months Ended |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Mar. 31, 2015 |
Intangible Assets |
|
|
|
|
|
Years subject to payment of per-unit royalty fees |
|
|
17 years
|
|
|
Royalty Revenue |
$ 7,200
|
$ 18,100
|
$ 26,400
|
$ 51,800
|
|
Unpaid earned royalties |
|
|
$ 26,400
|
|
$ 19,300
|
X |
- DefinitionRepresents the amount of unpaid royalty fee.
+ References
+ Details
Name: |
cpst_RoyaltyPayable |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
+ Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionRevenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1(e)) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 1 -Article 5
+ Details
Name: |
us-gaap_RoyaltyRevenue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- Details
Name: |
dei_LegalEntityAxis=cpst_SolarTurbinesIncorporatedMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
X |
- DefinitionRepresents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 14.F) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1)(i) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 -Section F
+ Details
Name: |
us-gaap_AllocatedShareBasedCompensationExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
+ Details
Name: |
us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_IncomeStatementLocationAxis=us-gaap_CostOfSalesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_IncomeStatementLocationAxis=us-gaap_ResearchAndDevelopmentExpenseMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_IncomeStatementLocationAxis=us-gaap_SellingGeneralAndAdministrativeExpensesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
Stock-Based Compensation - 2000 Plan (Details) - shares
|
1 Months Ended |
3 Months Ended |
9 Months Ended |
|
Aug. 31, 2015 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2015 |
Mar. 31, 2015 |
Non-qualified stock options issued prior to Fiscal 2015 |
|
|
|
|
|
Stockholders' equity |
|
|
|
|
|
Options granted (in shares) |
|
|
|
142,500
|
|
Stock options |
|
|
|
|
|
Stockholders' equity |
|
|
|
|
|
Options outstanding (in shares) |
|
536,139
|
|
536,139
|
658,171
|
Options granted (in shares) |
|
0
|
0
|
29,225
|
|
Restricted stock units |
|
|
|
|
|
Stockholders' equity |
|
|
|
|
|
Granted (in shares) |
|
|
|
234,046
|
|
Restricted stock units outstanding (in shares) |
|
274,297
|
|
274,297
|
93,383
|
2000 Plan |
|
|
|
|
|
Stockholders' equity |
|
|
|
|
|
Number of shares of common stock reserved for issuance |
|
1,849,000
|
|
1,849,000
|
|
Number of shares of common stock increased under amended and restated plan |
450,000
|
|
|
|
|
Number of shares available for future grant |
|
215,018
|
|
215,018
|
|
Vesting period |
|
|
|
4 years
|
|
Expiration Term |
|
|
|
10 years
|
|
2000 Plan | Stock options |
|
|
|
|
|
Stockholders' equity |
|
|
|
|
|
Portion vesting one year after the issuance date (as a percent) |
|
|
|
25.00%
|
|
Portion vesting on first day of each month after one year from the issuance date (as a percent) |
|
|
|
2.083%
|
|
Vesting period after one year of grant |
|
|
|
48 months
|
|
Non-qualified stock options | Non-qualified stock options issued prior to Fiscal 2015 |
|
|
|
|
|
Stockholders' equity |
|
|
|
|
|
Options granted (in shares) |
|
|
|
2,343
|
|
Non-qualified stock options | Stock options |
|
|
|
|
|
Stockholders' equity |
|
|
|
|
|
Options granted (in shares) |
|
|
|
155,000
|
|
Granted (in shares) |
|
|
|
12,500
|
|
Non-qualified stock options | Stock options | Executive Vice President and Chief Executive Officer |
|
|
|
|
|
Stockholders' equity |
|
|
|
|
|
Options granted (in shares) |
|
|
|
100,000
|
|
Non-qualified stock options | Stock options | Executive Vice President of Sales and Marketing |
|
|
|
|
|
Stockholders' equity |
|
|
|
|
|
Options granted (in shares) |
|
|
|
42,500
|
|
Non-qualified stock options | Stock options | Vice President of Operations |
|
|
|
|
|
Stockholders' equity |
|
|
|
|
|
Options granted (in shares) |
|
|
|
12,500
|
|
Non-qualified stock options | Restricted stock units |
|
|
|
|
|
Stockholders' equity |
|
|
|
|
|
Options granted (in shares) |
|
|
|
2,343
|
|
Non-qualified stock options | Restricted stock units | Vice President of Operations |
|
|
|
|
|
Stockholders' equity |
|
|
|
|
|
Options granted (in shares) |
|
|
|
2,343
|
|
X |
- DefinitionSubsequent to one year from date of issuance, represents the remaining vesting period of awards issued under the equity-based compensation plan.
+ References
+ Details
Name: |
cpst_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriodOneYearAfterIssuanceDate |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionRepresents the portion of an award that is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, thereby giving the employee the legal right to convert the award to shares, to sell the shares, and be entitled to the cash proceeds of such sale effective one year after the issuance date.
+ References
+ Details
Name: |
cpst_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRightsPercentageOneYearAfterIssuance |
Namespace Prefix: |
cpst_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionRepresents the portion of an award vesting on the first day of each month after one year from the issuance date.
+ References
+ Details
Name: |
cpst_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRightsPercentageVestingOnFirstDayOfEachMonthAfterOneYearOfIssuanceDate |
Namespace Prefix: |
cpst_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionPeriod which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2)(i)-(ii) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of additional shares authorized for issuance under an established share-based compensation plan.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionGross number of share options (or share units) granted during the period.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of options outstanding, including both vested and non-vested options.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1)(i)-(ii) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionPeriod from grant date that an equity-based award expires, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_AwardTypeAxis=cpst_OptionsGrantedPriorToFiscal2015Member |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_AwardTypeAxis=us-gaap_RestrictedStockUnitsRSUMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_PlanNameAxis=cpst_CapstoneTurbineCorporation2000EquityIncentivePlanMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_PlanNameAxis=cpst_NonqualifiedStockOptionsPlanMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_TitleOfIndividualAxis=cpst_ChiefExecutiveOfficerAndPresidentMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_TitleOfIndividualAxis=cpst_ExecutiveVicePresidentOfSalesAndMarketingMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_TitleOfIndividualAxis=cpst_VicePresidentOfOperationsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
Stock-Based Compensation - Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended |
9 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Additional disclosure |
|
|
|
|
Share based compensation expenses |
$ 656
|
$ 571
|
$ 1,504
|
$ 1,795
|
Stock options |
|
|
|
|
Shares |
|
|
|
|
Outstanding at the beginning of the period (in shares) |
|
|
658,171
|
|
Granted (in shares) |
0
|
0
|
29,225
|
|
Forfeited, cancelled or expired (in shares) |
|
|
(151,257)
|
|
Outstanding at the end of the period (in shares) |
536,139
|
|
536,139
|
|
Vested and expected to vest (in shares) |
536,139
|
|
536,139
|
|
Exercised (in shares) |
|
|
452,593
|
|
Weighted Average Exercise Price |
|
|
|
|
Outstanding at the beginning of the period (in dollars per share) |
|
|
$ 25.57
|
|
Granted (in dollars per share) |
|
|
12.80
|
|
Forfeited, cancelled or expired (in dollars per share) |
|
|
34.72
|
|
Outstanding at the end of the period (in dollars per share) |
$ 22.29
|
|
22.29
|
|
Vested and expected to vest (in dollars per share) |
22.29
|
|
22.29
|
|
Exercisable (in dollars per share) |
$ 22.73
|
|
$ 22.73
|
|
Weighted Average Remaining Contractual Term (in years) |
|
|
|
|
Outstanding at the end of the period |
|
|
4 years 3 months 18 days
|
|
Vested and expected to vest |
|
|
4 years 3 months 18 days
|
|
Exercisable |
|
|
3 years 6 months
|
|
Additional disclosure |
|
|
|
|
Share based compensation expenses |
$ 135
|
$ 239
|
$ 409
|
834
|
Cash received from exercise of stock options |
|
7
|
|
302
|
Intrinsic value |
|
$ 1
|
|
$ 129
|
Weighted average grant date fair value of options exercised during the period (in dollars per share) |
|
$ 15.20
|
|
$ 26.75
|
Unrecognized compensation cost |
$ 900
|
|
$ 900
|
|
Weighted average period for recognizing compensation cost |
|
|
2 years 3 months 18 days
|
|
Weighted-average assumptions used to calculate estimated fair value of each stock option |
|
|
|
|
Risk-free interest rates (as a percent) |
|
|
1.50%
|
1.80%
|
Expected lives (in years) |
|
|
5 years 8 months 12 days
|
5 years 8 months 12 days
|
Expected volatility (as a percent) |
|
|
59.00%
|
77.00%
|
Weighted average grant date fair value of options granted during the period (in dollars per share) |
|
|
$ 6.84
|
$ 18.79
|
X |
- DefinitionRepresents the weighted average grant-date fair value of options exercised during the reporting period as calculated by applying the disclosed option pricing methodology.
+ References
+ Details
Name: |
cpst_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageGrantDateFairValue |
Namespace Prefix: |
cpst_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionRepresents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 14.F) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1)(i) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 -Section F
+ Details
Name: |
us-gaap_AllocatedShareBasedCompensationExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionUnrecognized cost of unvested options awarded to employees as compensation.
+ References
+ Details
Name: |
us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (j) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3255-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228
+ Details
Name: |
us-gaap_ProceedsFromStockOptionsExercised |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsAndMethodologyAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2)(ii) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe risk-free interest rate assumption that is used in valuing an option on its own shares.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2)(iv) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iii) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionAmount of accumulated difference between fair value of underlying shares on dates of exercise and exercise price on options exercised (or share units converted) into shares.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionFor presentations that combine terminations, the number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan or that expired.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(3)-(4) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average price of options that were either forfeited or expired.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(3)-(4) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionGross number of share options (or share units) granted during the period.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of options outstanding, including both vested and non-vested options.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1)(i)-(ii) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionA roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1)(i) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAs of the balance sheet date, the number of shares into which fully vested and expected to vest stock options outstanding can be converted under the option plan.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionAs of the balance sheet date, the weighted-average exercise price for outstanding stock options that are fully vested or expected to vest.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionWeighted average per share amount at which grantees can acquire shares of common stock by exercise of options.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionExpected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 14.D.2) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2)(i) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 -Section D -Subsection 2
+ Details
Name: |
us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average remaining contractual term for fully vested and expected to vest options outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of share options (or share units) exercised during the current period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28,29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30 -Article 5
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
Stock-Based Compensation - RSU's (Details) - USD ($)
|
3 Months Ended |
9 Months Ended |
|
Dec. 31, 2015 |
Jun. 30, 2015 |
Dec. 31, 2014 |
Jun. 30, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Mar. 31, 2015 |
Additional disclosure |
|
|
|
|
|
|
|
Share based compensation expenses |
$ 656,000
|
|
$ 571,000
|
|
$ 1,504,000
|
$ 1,795,000
|
|
Number of preferred stock purchase right for each share of common stock |
|
|
|
|
1
|
|
|
Preferred stock, par value (in dollars per share) |
$ 0.001
|
|
|
|
$ 0.001
|
|
$ 0.001
|
Purchase price (in dollars per share) |
$ 10.00
|
|
|
|
$ 10.00
|
|
|
Period following public announcement of beneficial ownership acquired by various persons resulting in rights becoming exercisable |
|
|
|
|
10 days
|
|
|
Beneficial ownership of common stock (as a percent) |
|
|
|
|
20.00%
|
|
|
Period following commencement of tender offer or exchange offer that would result in acquisition of beneficial ownership various persons resulting in rights becoming exercisable |
|
|
|
|
10 days
|
|
|
Series A Junior Participating Preferred Stock |
|
|
|
|
|
|
|
Additional disclosure |
|
|
|
|
|
|
|
Preferred stock conversion basis |
|
|
|
|
0.01
|
|
|
Restricted stock units |
|
|
|
|
|
|
|
Shares |
|
|
|
|
|
|
|
Nonvested, balance at the beginning of the period (in shares) |
|
93,383
|
|
|
93,383
|
|
|
Granted (in shares) |
|
|
|
|
234,046
|
|
|
Vested and issued (in shares) |
|
|
|
|
(36,098)
|
|
|
Forfeited (in shares) |
|
|
|
|
(17,034)
|
|
|
Nonvested, balance at the end of the period (in shares) |
274,297
|
|
|
|
274,297
|
|
|
Awards expected to vest (in shares) |
274,286
|
|
|
|
274,286
|
|
|
Weighted Average Grant-Date Fair Value |
|
|
|
|
|
|
|
Nonvested restricted stock units outstanding at the beginning of the period (in dollars per share) |
|
$ 23.76
|
|
|
$ 23.76
|
|
|
Granted (in dollars per share) |
|
|
|
|
3.86
|
|
|
Vested and issued (in dollars per share) |
|
|
|
|
24.47
|
|
|
Forfeited (in dollars per share) |
|
|
|
|
21.39
|
|
|
Nonvested restricted stock units outstanding at the end of the period (in dollars per share) |
$ 6.83
|
|
|
|
6.83
|
|
|
Awards expected to vest (in dollars per share) |
$ 6.83
|
|
|
|
$ 6.83
|
|
|
Additional disclosure |
|
|
|
|
|
|
|
Share based compensation expenses |
$ 204,000
|
|
303,000
|
|
$ 715,000
|
873,000
|
|
Aggregate fair value of restricted stock units vested and issued |
4,000
|
|
$ 28,000
|
|
344,000
|
$ 1,184,000
|
|
Unrecognized compensation cost |
$ 1,300,000
|
|
|
|
$ 1,300,000
|
|
|
Weighted average period for recognizing compensation cost |
|
|
|
|
3 years
|
|
|
Weighted average grant date fair value of options granted during the period (in dollars per share) |
$ 1.19
|
|
$ 19.60
|
|
$ 3.34
|
$ 27.43
|
|
PRSU Program |
|
|
|
|
|
|
|
Additional disclosure |
|
|
|
|
|
|
|
Performance measurement period |
|
|
|
|
3 years
|
|
|
Vesting right percentage of awards that will vest after end of applicable performance measurement period |
|
|
|
|
50.00%
|
|
|
Vesting right percentage of awards that will vest one year after end of performance measurement period |
|
|
|
|
50.00%
|
|
|
Restricted Stock Awards |
|
|
|
|
|
|
|
Shares |
|
|
|
|
|
|
|
Granted (in shares) |
255,912
|
|
1,814
|
|
263,594
|
3,956
|
|
Additional disclosure |
|
|
|
|
|
|
|
Share based compensation expenses |
$ 317,000
|
|
$ 29,000
|
|
$ 380,000
|
$ 88,000
|
|
Weighted average grant date fair value of options granted during the period (in dollars per share) |
$ 1.24
|
|
$ 16.20
|
|
$ 1.44
|
$ 22.28
|
|
Chief Executive Officer | PRSU Program |
|
|
|
|
|
|
|
Shares |
|
|
|
|
|
|
|
Granted (in shares) |
|
10,000
|
|
10,000
|
|
|
|
Additional disclosure |
|
|
|
|
|
|
|
Share based compensation expenses |
|
|
|
|
$ 0.0
|
|
|
Weighted average grant date fair value of options granted during the period (in dollars per share) |
|
$ 15.50
|
|
$ 31.20
|
|
|
|
X |
- DefinitionRepresents the beneficial ownership expressed as a percentage of outstanding shares of the entity's common stock.
+ References
+ Details
Name: |
cpst_BeneficialOwnershipOfCommonStockPercentage |
Namespace Prefix: |
cpst_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionRepresents the period following the commencement of a tender offer or exchange offer, that would result in person or group owning beneficial ownership of the entity's common stock, resulting in rights becoming exercisable.
+ References
+ Details
Name: |
cpst_PeriodFollowingCommencementOfTenderOfferOrExchangeOfferResultingInAcquisitionOfBeneficialOwnershipByPersonOrGroupResultingInRightsBecomingExercisable |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionRepresents the period following a public announcement that a person or group of affiliated or associated persons has acquired, or obtained the right to acquire, beneficial ownership of the entity's common stock, resulting in rights becoming exercisable.
+ References
+ Details
Name: |
cpst_PeriodFollowingPublicAnnouncementOfBeneficialOwnershipAcquiredOrObtainedRightToAcquireByPersonOrGroupOfAffiliatedOrAssociatedPersonsResultingInRightsBecomingExercisable |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe ratio applied to preferred stock for purposes of determining the number of unit to be issued to registered holder under rights agreement.
+ References
+ Details
Name: |
cpst_PreferredStockConversionRatio |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:pureItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionRepresents the number of preferred stock purchase right for each share of entity's common stock.
+ References
+ Details
Name: |
cpst_PreferredStockNumberOfPurchaseRightsPerShareOfCommonStock |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe price per share at which the preferred stock of an entity can be purchased under rights agreement.
+ References
+ Details
Name: |
cpst_PreferredStockPurchasePricePerShare |
Namespace Prefix: |
cpst_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionAs of the balance sheet date, the number of shares into which equity instruments other than options expected to vest and outstanding can be converted under the equity-based compensation plan.
+ References
+ Details
Name: |
cpst_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpectedToVestOutstandingNumber |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionAs of the balance sheet date, the weighted-average grant date fair value for outstanding equity awards expected to vest, other than options.
+ References
+ Details
Name: |
cpst_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpectedToVestWeightedAverageGrantDateFairValue |
Namespace Prefix: |
cpst_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionRepresents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 14.F) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1)(i) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 -Section F
+ Details
Name: |
us-gaap_AllocatedShareBasedCompensationExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionWeighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionUnrecognized cost of unvested share-based awards, other than options, awarded to employees as compensation.
+ References
+ Details
Name: |
us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionFace amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5
+ Details
Name: |
us-gaap_PreferredStockParOrStatedValuePerShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionEstimated period over which an employee is required to provide service in exchange for the equity-based payment award, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalDisclosuresAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(3) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(3) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2)(i)-(ii) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionA roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2)(i)-(ii) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionA roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFair value of share-based awards for which the grantee gained the right by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_AwardTypeAxis=us-gaap_RestrictedStockUnitsRSUMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_AwardTypeAxis=cpst_RestrictedStockAwardsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_TitleOfIndividualAxis=us-gaap_ChiefExecutiveOfficerMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
Underwritten and Registered Direct Placement of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions |
|
|
9 Months Ended |
Aug. 28, 2015 |
May. 06, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Stockholders' Equity |
|
|
|
|
Issuance of common stock, net of issuance costs (in shares) |
|
0.9
|
2.8
|
|
Share price (in dollars per share) |
|
$ 34.00
|
|
|
Net proceeds from sale of the common stock, after deducting fees and other offering expenses (in dollars) |
|
|
|
$ 29,772
|
Proceeds from sale of common stock, after deducting fees and other offering expense |
$ 30,000
|
$ 29,800
|
$ 7,412
|
|
X |
- References
+ Details
Name: |
us-gaap_EquityAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe cash inflow from the additional capital contribution to the entity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3255-108585
+ Details
Name: |
us-gaap_ProceedsFromIssuanceOfCommonStock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe cash inflow from the issuance of common stock, preferred stock, treasury stock, stock options, and other types of equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3255-108585
+ Details
Name: |
us-gaap_ProceedsFromIssuanceOrSaleOfEquity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionPrice of a single share of a number of saleable stocks of a company.
+ References
+ Details
Name: |
us-gaap_SharePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionNumber of new stock issued during the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30 -Article 5
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodSharesNewIssues |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
X |
- DefinitionAmount of short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash Equivalents -URI http://asc.fasb.org/extlink&oid=6507016
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 1 -Article 5
+ Details
Name: |
us-gaap_CashEquivalentsAtCarryingValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
+ Details
Name: |
us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3179-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3213-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Investing Activities -URI http://asc.fasb.org/extlink&oid=6516133
+ Details
Name: |
us-gaap_IncreaseDecreaseInRestrictedCash |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_FairValueByMeasurementBasisAxis=us-gaap_EstimateOfFairValueFairValueDisclosureMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
+ Details
Name: |
us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFair value portion of contractual arrangement with a lender under which borrowings can be made up to a specific amount at any point in time.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Line-of-Credit Arrangement -URI http://asc.fasb.org/extlink&oid=6517033
+ Details
Name: |
us-gaap_LinesOfCreditFairValueDisclosure |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- Details
Name: |
us-gaap_FairValueByMeasurementBasisAxis=us-gaap_CarryingReportedAmountFairValueDisclosureMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_FairValueByMeasurementBasisAxis=us-gaap_EstimateOfFairValueFairValueDisclosureMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
Revolving Credit Facility (Details)
|
3 Months Ended |
9 Months Ended |
|
|
|
Dec. 31, 2015
USD ($)
|
Dec. 31, 2014
USD ($)
|
Dec. 31, 2015
USD ($)
agreement
|
Dec. 31, 2014
USD ($)
|
Jun. 30, 2015
USD ($)
|
Jun. 10, 2015
USD ($)
|
Mar. 31, 2015
USD ($)
|
Revolving Credit Facility |
|
|
|
|
|
|
|
Restricted cash |
$ 5,000,000
|
|
$ 5,000,000
|
|
|
$ 5,000,000
|
|
Outstanding borrowings |
9,600,000
|
|
9,600,000
|
|
|
|
$ 12,953,000
|
Interest expense |
159,000
|
$ 134,000
|
506,000
|
$ 421,000
|
|
|
|
Amortization of deferred financing costs |
|
|
$ 129,000
|
158,000
|
|
|
|
Credit Facility |
|
|
|
|
|
|
|
Revolving Credit Facility |
|
|
|
|
|
|
|
Credit and security agreements | agreement |
|
|
2
|
|
|
|
|
Maximum borrowing capacity under facility |
15,000,000
|
|
$ 15,000,000
|
|
$ 20,000,000
|
|
|
Minimum cash balance |
$ 8,200,000
|
|
$ 8,200,000
|
|
|
|
|
Variable base rate |
|
|
daily three month London Inter–Bank Offer Rate ("LIBOR
|
|
|
|
|
Borrowing rate (as a percent) |
4.40%
|
|
4.40%
|
|
|
|
4.00%
|
Annual unused line fee (as a percent) |
|
|
0.25%
|
|
|
|
|
Interest rate with respect to letters of credit (as a percent) |
|
|
1.50%
|
|
|
|
|
Outstanding borrowings |
$ 9,600,000
|
|
$ 9,600,000
|
|
|
|
$ 13,000,000
|
Interest expense |
200,000
|
100,000
|
500,000
|
400,000
|
|
|
|
Amortization of deferred financing costs |
43,800
|
$ 47,000
|
100,000
|
$ 200,000
|
|
|
|
Credit Facility | Minimum |
|
|
|
|
|
|
|
Revolving Credit Facility |
|
|
|
|
|
|
|
Interest floor amount |
|
|
66,000
|
|
|
|
|
Non-revolving capital expense line of credit |
|
|
|
|
|
|
|
Revolving Credit Facility |
|
|
|
|
|
|
|
Maximum borrowing capacity under facility |
$ 500,000
|
|
$ 500,000
|
|
|
|
|
X |
- DefinitionRepresents the minimum cash balance to outstanding line of credit advances required to be maintained under the financial covenants based upon the entity's financial performance.
+ References
+ Details
Name: |
cpst_DebtInstrumentCovenantComplianceMinimumCashBalance |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionRepresents the rate of interest required to be paid with respect to letters of credit held by the entity.
+ References
+ Details
Name: |
cpst_LettersOfCreditInterestRatePercentage |
Namespace Prefix: |
cpst_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionRepresents the amount of interest floor set by the entity.
+ References
+ Details
Name: |
cpst_LineOfCreditFacilityInterestFloorAmount |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionRepresents the number of credit and security agreements maintained by the entity.
+ References
+ Details
Name: |
cpst_LineOfCreditFacilityNumberOfCreditAndSecurityAgreements |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:integerItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.8) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 8 -Article 5
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 8 -Article 9
+ Details
Name: |
us-gaap_AmortizationOfFinancingCosts |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR.
+ References
+ Details
Name: |
us-gaap_DebtInstrumentDescriptionOfVariableRateBasis |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of the cost of borrowed funds accounted for as interest expense.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.9) -URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 9 -Article 9
+ Details
Name: |
us-gaap_InterestExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe effective interest rate at the end of the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 22 -Article 5
+ Details
Name: |
us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
+ Details
Name: |
us-gaap_LineOfCreditFacilityLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionMaximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 22 -Article 5
+ Details
Name: |
us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe fee, expressed as a percentage of the line of credit facility, for available but unused credit capacity under the credit facility.
+ References
+ Details
Name: |
us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Line-of-Credit Arrangement -URI http://asc.fasb.org/extlink&oid=6517033
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20 -Article 5
+ Details
Name: |
us-gaap_LinesOfCreditCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 1 -Article 5
+ Details
Name: |
us-gaap_RestrictedCashAndCashEquivalents |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- Details
Name: |
us-gaap_CreditFacilityAxis=us-gaap_LineOfCreditMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_RangeAxis=us-gaap_MinimumMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_CreditFacilityAxis=cpst_NonRevolvingCapitalExpenseLineOfCreditMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
X |
- DefinitionRepresents the maximum period of product warranties issued by the entity.
+ References
+ Details
Name: |
cpst_StandardProductWarrantyPeriodMaximum |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.
+ References
+ Details
Name: |
us-gaap_MovementInStandardProductWarrantyAccrualRollForward |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_ProductWarrantiesDisclosuresAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount as of the balance sheet date of the aggregate standard product warranty liability. Does not include the balance for the extended product warranty liability.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -Subparagraph (c)(1),(c)(5) -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249
+ Details
Name: |
us-gaap_StandardProductWarrantyAccrual |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionRepresents the aggregate decrease in the liability for payments made (in cash or in kind) to satisfy claims under the terms of the standard product warranty. Does not include any Increase or Decrease in the liability for payments related to extended product warranties.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -Subparagraph ((c)(2)) -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249
+ Details
Name: |
us-gaap_StandardProductWarrantyAccrualPayments |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionRepresents the aggregate Increase or Decrease in the liability during the reporting period for accruals related to preexisting standard product warranties (including adjustments related to changes in estimates). Does not include any Increase or Decrease in the liability for accruals related to extended product warranties.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -Subparagraph ((c)(4)) -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249
+ Details
Name: |
us-gaap_StandardProductWarrantyAccrualPreexistingIncreaseDecrease |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionRepresents the aggregate increase in the liability for accruals related to standard product warranties issued during the reporting period. Does not include any increase in the liability for accruals related to extended product warranties.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -Subparagraph ((c)(3)) -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249
+ Details
Name: |
us-gaap_StandardProductWarrantyAccrualWarrantiesIssued |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
v3.3.1.900
Deferred Revenue (Details) - USD ($) $ in Thousands |
9 Months Ended |
|
Dec. 31, 2015 |
Mar. 31, 2015 |
Changes in deferred revenue |
|
|
Deferred revenue balance, end of the period |
$ 3,958
|
$ 3,051
|
FPP agreements |
|
|
Changes in deferred revenue |
|
|
FPP Balance, beginning of the period |
2,491
|
|
FPP Billings |
8,507
|
|
FPP Revenue recognized |
(8,262)
|
|
Balance attributed to FPP contracts |
2,736
|
|
Deposits |
1,222
|
|
Deferred revenue balance, end of the period |
$ 3,958
|
|
X |
- DefinitionRepresents the carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, excluding deposits liabilities.
+ References
+ Details
Name: |
cpst_DeferredRevenueCurrentExcludingDeposits |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of deferred revenue recognized for transactions arising during the current reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an Entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 605 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 13.A.4(a).Q1) -URI http://asc.fasb.org/extlink&oid=27012821&loc=d3e214044-122780
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 13 -Section A
+ Details
Name: |
us-gaap_DeferredRevenueAdditions |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 8 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6935-107765
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 605 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 13.A.4(a).Q1) -URI http://asc.fasb.org/extlink&oid=27012821&loc=d3e214044-122780
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 13 -Section A
+ Details
Name: |
us-gaap_DeferredRevenueCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of previously reported deferred or unearned revenue that was recognized as revenue during the period. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 605 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 13.A.4(a).Q1) -URI http://asc.fasb.org/extlink&oid=27012821&loc=d3e214044-122780
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 13 -Section A
+ Details
Name: |
us-gaap_DeferredRevenueRevenueRecognized |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe current portion, due within one year or one operating cycle, if longer, of deposits held other than customer deposits.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_DepositLiabilityCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionA roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.
+ References
+ Details
Name: |
us-gaap_MovementInDeferredRevenueRollForward |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_DeferredRevenueArrangementTypeAxis=cpst_FactoryProtectionPlanAgreementsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
X |
- DefinitionRepresents the capacity of microturbine.
+ References
+ Details
Name: |
cpst_CapacityOfMicroturbine |
Namespace Prefix: |
cpst_ |
Data Type: |
num:powerItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionRepresents the amount of unpaid royalty fee.
+ References
+ Details
Name: |
cpst_RoyaltyPayable |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of expense related to royalty payments under a contractual arrangement such as payment for mineral and drilling rights and use of technology or intellectual property.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.3) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_RoyaltyExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- Details
Name: |
dei_LegalEntityAxis=cpst_UTCPowerCorporationMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
dei_LegalEntityAxis=cpst_CarrierCorporationMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
X |
- DefinitionRepresents the period of renewal options as per the lease agreements for primary office and manufacturing facilities.
+ References
+ Details
Name: |
cpst_OperatingLeasesRenewalOptionPeriod |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe cumulative difference between the rental payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense over the term of the leased property by the lessor or lessee, respectively.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7501430&loc=d3e39896-112707
+ Details
Name: |
us-gaap_DeferredRentCredit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_LeasesOperatingAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionRental expense for the reporting period incurred under operating leases, including minimum and any contingent rent expense, net of related sublease income.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41499-112717
+ Details
Name: |
us-gaap_OperatingLeasesRentExpenseNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
+ Details
Name: |
us-gaap_PurchaseCommitmentExcludingLongtermCommitmentLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionMinimum amount to be expended to satisfy the terms of arrangements in which the entity has agreed to expend funds to procure goods or services, excluding long-term purchase commitments or unconditional purchase obligations.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.(a)(19)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.17) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 7
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 25 -Article 5
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 17 -Article 9
+ Details
Name: |
us-gaap_PurchaseCommitmentRemainingMinimumAmountCommitted |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- Details
Name: |
us-gaap_PurchaseCommitmentExcludingLongtermCommitmentAxis=cpst_InventoriesExcludingLongTermCommitmentMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
X |
- References
+ Details
Name: |
cpst_CommitmentsAndContingenciesOtherDisclosuresAbstract |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionRepresents the contribution of other party towards research, development and testing project.
+ References
+ Details
Name: |
cpst_ContributionToBeMadeByOtherPartyTowardsResearchDevelopmentAndTestingProject |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionRepresents the cumulative amount billed to other party under research, development and testing of project.
+ References
+ Details
Name: |
cpst_CumulativeAmountOfBillToOtherPartyTowardsResearchDevelopmentAndTestingProject |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionRepresents information pertaining to the number of class action complaints.
+ References
+ Details
Name: |
cpst_NumberOfClassActionComplaints |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:integerItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionRepresents the percentage of contribution by other party towards research, development and testing project.
+ References
+ Details
Name: |
cpst_PercentageContribution |
Namespace Prefix: |
cpst_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionRepresents the percentage of projected electrical efficiency of microturbine.
+ References
+ Details
Name: |
cpst_PercentageOfProjectedElectricalEfficiencyOfMicroturbine |
Namespace Prefix: |
cpst_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionRepresents the period of contract with other party under research, development and testing of project.
+ References
+ Details
Name: |
cpst_PeriodOfContract |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionRepresents the power output of microturbine system.
+ References
+ Details
Name: |
cpst_PowerOutputOfMicroturbine |
Namespace Prefix: |
cpst_ |
Data Type: |
num:powerItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionRepresents the cost of research, development and testing project.
+ References
+ Details
Name: |
cpst_ProjectedCostOfResearchDevelopmentAndTestingProject |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionRepresents the research and development expense to be incurred by the entity.
+ References
+ Details
Name: |
cpst_ResearchAndDevelopmentExpenseToBeIncurredByEntity |
Namespace Prefix: |
cpst_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
+ Details
Name: |
us-gaap_PurchaseCommitmentExcludingLongtermCommitmentLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
dei_LegalEntityAxis=cpst_DepartmentOfEnergyMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
X |
- DefinitionSecurities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Antidilution -URI http://asc.fasb.org/extlink&oid=6505113
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Diluted Earnings Per Share -URI http://asc.fasb.org/extlink&oid=6510752
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Contingent Stock Agreement -URI http://asc.fasb.org/extlink&oid=6508534
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
+ Details
Name: |
us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
+ Details
Name: |
us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=us-gaap_StockCompensationPlanMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
Capstone Turbine (NASDAQ:CPST)
Historical Stock Chart
From Mar 2024 to Apr 2024
Capstone Turbine (NASDAQ:CPST)
Historical Stock Chart
From Apr 2023 to Apr 2024