Accounts Payable and Accrued Expenses

12 Months Ended

Mar. 31, 2016

8. Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses at March 31, 2016 and March 31, 2015 consisted of the following (in thousands):

	March 31,		March 31,
	2016		2015
Accounts payable	$	5,837	$	7,062
Accrued inventories in-transit		1,908		1,127
Accrued other miscellaneous expenses		3,003		3,254
Accrued compensation		7,526		5,960
Income taxes payable		1,281		278
Accrued warranty		3,601		3,934
Total	$	23,156	$	21,615

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):

	Fiscal Years Ended March 31,
	2016			2015
Balance at beginning of period	$	3,934		$	3,207
Change in accruals for warranties during the period		1,865			2,839
Settlements during the period		(2,198	)		(2,112	)
Balance at end of period	$	3,601		$	3,934