Accounts Payable and Accrued Expenses

12 Months Ended

Mar. 31, 2015

8. Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses at March 31, 2015 and 2014 consisted of the following (in thousands):

	March 31,
	2015		2014
Accounts payable	$	7,062	$	1,749
Accrued inventories in-transit		1,127		212
Accrued miscellaneous expenses		2,695		5,935
Accrued outside services		582		3,716
Accrued subcontractor program costs		-		290
Accrued compensation		5,937		6,080
Income taxes payable		278		173
Accrued adverse purchase commitments		-		402
Accrued warranty		3,934		3,207
Total	$	21,615	$	21,764

The Company generally provides a one to three year warranty on its products, commencing upon installation. A provision is recorded upon revenue recognition to cost of revenues for estimated warranty expense based on historical experience.

Product warranty activity was as follows (in thousands):

	For the years ended
	March 31,
	2015			2014
Balance at beginning of period	$	3,207		$	2,709
Change in accruals for warranties during the period		2,839			1,717
Settlements during the period		(2,112	)		(1,219	)
Balance at end of period	$	3,934		$	3,207