Condensed Consolidating Financial Statements (Tables)

3 Months Ended

Jun. 30, 2013

Condensed Consolidating Financial Statements

Condensed Consolidating Balance Sheet

June 30, 2013

(Unaudited)

	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Reclassifications and Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	8,822	$	26,088	$	18,245	$	—		$	53,155
Accounts receivable, net	—		46,683		54,571		—			101,254
Intercompany receivable	298,203		274,135		175,292		(747,630		)	—
Inventories, net	—		133,048		84,495		—			217,543
Prepaid expenses and other	3,182		17,170		21,977		(2,952		)	39,377
Deferred income taxes	—		990		3,260		—			4,250
Total current assets	310,207		498,114		357,840		(750,582		)	415,579
Property and equipment, net	344		113,476		196,057		—			309,877
Investments in NEC TOKIN	—		48,709		—		—			48,709
Investments in subsidiaries	399,792		424,386		10,750		(834,928		)	—
Goodwill	—		35,584		—		—			35,584
Intangible assets, net	—		29,417		8,893		—			38,310
Restricted cash	—		15,851		—		—			15,851
Deferred income taxes	—		1,500		6,821		—			8,321
Other assets	6,410		1,146		1,383		—			8,939
Long-term intercompany receivable	77,549		57,549		2,800		(137,898		)	—
Total assets	$	794,302	$	1,225,732	$	584,544	$	(1,723,408	)	$	881,170

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt	$	6,391	$	15	$	1,242	$	—		$	7,648
Accounts payable, trade	137		44,246		45,471		—			89,854
Intercompany payable	122,753		510,941		113,936		(747,630		)	—
Accrued expenses	28,360		14,643		40,310		—			83,313
Income taxes payable and deferred income taxes	—		3,124		1,891		(2,952		)	2,063
Total current liabilities	157,641		572,969		202,850		(750,582		)	182,878
Long-term debt, less current portion	375,084		—		561		—			375,645
Other non-current obligations	17,208		2,975		49,401		—			69,584
Deferred income taxes	—		3,219		5,475		—			8,694
Long-term intercompany payable	—		77,549		60,349		(137,898		)	—
Stockholders’ equity	244,369		569,020		265,908		(834,928		)	244,369

Total liabilities and stockholders’ equity	$	794,302	$	1,225,732	$	584,544	$	(1,723,408	)	$	881,170

Condensed Consolidating Balance Sheet

March 31, 2013

	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Reclassifications and Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	17,202	$	52,056	$	26,720	$	—		$	95,978
Accounts receivable, net	—		42,051		54,513		—			96,564
Intercompany receivable	287,513		251,524		150,376		(689,413		)	—
Inventories, net	—		126,286		79,329		—			205,615
Prepaid expenses and other	3,186		13,564		27,303		(2,952		)	41,101
Deferred income taxes	—		578		3,589		—			4,167
Total current assets	307,901		486,059		341,830		(692,365		)	443,425
Property and equipment, net	361		111,584		192,563		—			304,508
Investments in NEC TOKIN	—		52,738		—		—			52,738
Investments in subsidiaries	423,695		424,386		10,750		(858,831		)	—
Goodwill	—		35,584		—		—			35,584
Intangible assets, net	—		29,763		8,883		—			38,646
Restricted cash	—		17,397		—		—			17,397
Deferred income taxes	—		1,500		6,494		—			7,994
Other assets	6,741		3,173		1,385		—			11,299
Long-term intercompany receivable	75,919		56,338		2,800		(135,057		)	—
Total assets	$	814,617	$	1,218,522	$	564,705	$	(1,686,253	)	$	911,591

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt	$	9,561	$	16	$	1,216	$	—		$	10,793
Accounts payable, trade	61		37,444		36,164		—			73,669
Intercompany payable	100,947		481,707		106,759		(689,413		)	—
Accrued expenses	37,490		19,615		38,839		—			95,944
Income taxes payable	—		3,046		980		(2,952		)	1,074
Total current liabilities	148,059		541,828		183,958		(692,365		)	181,480
Long-term debt, less current portion	372,157		—		550		—			372,707
Other non-current obligations	17,485		3,899		50,562		—			71,946
Deferred income taxes	—		2,808		5,734		—			8,542
Long-term intercompany payable	—		75,919		59,138		(135,057		)	—
Stockholders’ equity	276,916		594,068		264,763		(858,831		)	276,916

Total liabilities and stockholders’ equity	$	814,617	$	1,218,522	$	564,705	$	(1,686,253	)	$	911,591

Condensed Consolidating Statements of Operations

Condensed Consolidating Statement of Operations

For the Quarter Ended June 30, 2013

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net sales	$	19		$	237,323		$	208,303		$	(242,922	)	$	202,723

Operating costs and expenses:
Cost of sales	403			227,155			190,419			(232,788		)	185,189
Selling, general and administrative expenses	10,611			12,266			13,759			(10,134		)	26,502
Research and development	90			4,275			2,015			—			6,380
Restructuring charges	—			1,934			2,676			—			4,610
Total operating costs and expenses	11,104			245,630			208,869			(242,922		)	222,681

Operating income (loss)	(11,085		)	(8,307		)	(566		)	—			(19,958		)

Other (income) expense, net	59			11,058			(893		)	—			10,224
Equity in earnings of subsidiaries	23,995			—			—			(23,995		)	—
Income (loss) before income taxes and equity loss from NEC TOKIN	(35,139		)	(19,365		)	327			23,995			(30,182		)

Income tax expense	—			55			1,525			—			1,580

Income (loss) before equity loss from NEC TOKIN	(35,139		)	(19,420		)	(1,198		)	23,995			(31,762		)
Equity loss from NEC TOKIN	—			(3,377		)	—			—			(3,377		)
Net income (loss)	$	(35,139	)	$	(22,797	)	$	(1,198	)	$	23,995		$	(35,139	)

Condensed Consolidating Statement of Operations

For the Quarter Ended June 30, 2012

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net sales	$	—		$	240,944		$	228,715		$	(246,027	)	$	223,632

Operating costs and expenses:
Cost of sales	418			218,318			207,577			(234,992		)	191,321
Selling, general and administrative expenses	1,605			20,743			15,942			(11,035		)	27,255
Research and development	41			5,288			2,404			—			7,733
Restructuring charges	—			163			1,101			—			1,264
Net loss on sales and disposals of assets	—			33			71			—			104
Total operating costs and expenses	2,064			244,545			227,095			(246,027		)	227,677

Operating income (loss)	(2,064		)	(3,601		)	1,620			—			(4,045		)

Other (income) expense, net	10,187			3,159			(1,409		)	—			11,937
Equity in earnings of subsidiaries	5,502			—			—			(5,502		)	—
Income before income taxes	(17,753		)	(6,760		)	3,029			5,502			(15,982		)

Income tax expense	—			60			1,711			—			1,771

Net income (loss)	$	(17,753	)	$	(6,820	)	$	1,318		$	5,502		$	(17,753	)

Condensed Consolidating Statement of Comprehensive Income (loss)

Condensed Consolidating Statements of Comprehensive Income (Loss)

Quarter Ended June 30, 2013

Comprehensive income (loss)

(33,510

)

(24,340

)

442

23,995

(33,413

)

Condensed Consolidating Statements of Comprehensive Income (Loss)

For the Quarter Ended June 30, 2012

Comprehensive income (loss)

(22,294

)

(5,751

)

(3,003

)

5,502

(25,546

)

Condensed Consolidating Statements of Cash Flows

Condensed Consolidating Statement of Cash Flows

For the Quarter Ended June 30, 2013

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Reclassifications and Eliminations		Consolidated
Sources (uses) of cash and cash equivalents
Net cash used in operating activities	$	(7,889	)	$	(19,373	)	$	(369	)	$	—	$	(27,631	)

Investing activities:
Capital expenditures	—			(7,186		)	(8,295		)	—		(15,481		)
Change in restricted cash	—			1,591			—			—		1,591
Net cash used in investing activities	—			(5,595		)	(8,295		)	—		(13,890		)

Financing activities:
Deferred acquisition payments	(204		)	(1,000		)	—			—		(1,204		)
Payments of long-term debt	(306		)	—			—			—		(306		)
Proceeds from exercise of stock options	19			—			—			—		19
Net cash used in financing activities	(491		)	(1,000		)	—			—		(1,491		)
Net decrease in cash and cash equivalents	(8,380		)	(25,968		)	(8,664		)	—		(43,012		)
Effect of foreign currency fluctuations on cash	—			—			189			—		189
Cash and cash equivalents at beginning of fiscal period	17,202			52,056			26,720			—		95,978
Cash and cash equivalents at end of fiscal period	$	8,822		$	26,088		$	18,245		$	—	$	53,155

Condensed Consolidating Statements of Cash Flows

For the Quarter Ended June 30, 2012

(Unaudited)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Reclassifications and Eliminations		Consolidated
Sources (uses) of cash and cash equivalents
Net cash provided by (used in) operating activities	$	(14,653	)	$	(15,306	)	$	8,752		$	—	$	(21,207	)

Investing activities:
Capital expenditures	—			(3,660		)	(9,441		)	—		(13,101		)
Net cash used in investing activities	—			(3,660		)	(9,441		)	—		(13,101		)

Financing activities:
Proceeds from issuance of debt	15,825			—			—			—		15,825
Payments of long-term debt	—			—			(1,576		)	—		(1,576		)
Acquisition, net of cash received	(439		)	(1,000		)	—			—		(1,439		)
Proceeds from exercise of stock options	41			—			—			—		41
Debt issuance costs	(275		)	—			—			—		(275		)
Net cash provided by (used in) financing activities	15,152			(1,000		)	(1,576		)	—		12,576
Net increase (decrease) in cash and cash equivalents	499			(19,966		)	(2,265		)	—		(21,732		)
Effect of foreign currency fluctuations on cash	—			—			(943		)	—		(943		)
Cash and cash equivalents at beginning of fiscal period	7,933			178,205			24,383			—		210,521
Cash and cash equivalents at end of fiscal period	$	8,432		$	158,239		$	21,175		$	—	$	187,846