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Note 18 - Business Segments
 12 Months Ended
Mar. 31, 2021
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
18.
Business Segments 
 
The Company reports its financial results in
two
reportable business segments: Grid and Wind.  In accordance with ASC
280,
 
Segment Reporting
, we aggregate
two
operating segments into
one
reporting segment for financial reporting purposes due to their similar operating and financial characteristics.  Our operating segments reflect the way in which internally-reported financial information is used to make decisions and allocate resources.
 
Through the Company's power grid offerings, the Grid business segment enables electric utilities, industrial facilities, and renewable energy project developers to connect, transmit and distribute smarter, cleaner and better power through its transmission planning services, power electronics, and superconductor-based systems. The sales process is enabled by transmission planning services that allow it to identify power grid congestion, poor power quality and other risks, which helps the Company determine how its solutions can improve network performance. These services often lead to sales of grid interconnection solutions for wind farms and solar power plants, power quality systems, and transmission and distribution cable systems.  The Company also sells ship protection products to the U.S. Navy through its Grid business segment.
 
Through the Company's wind power offerings, the Wind business segment enables manufacturers to field highly competitive wind turbines through its advanced power electronics and control system products, engineered designs, and support services. The Company supplies advanced power electronics and control systems, licenses its highly engineered wind turbine designs, and provides extensive customer support services to wind turbine manufacturers. The Company's design portfolio includes a broad range of drive trains and power ratings of
2
megawatts ("MWs") and higher. The Company provides a broad range of power electronics and software-based control systems that are highly integrated and designed for optimized performance, efficiency, and grid compatibility.
 
The
operating
results for the
two
business segments are as follows (in thousands):
 
   
Fiscal Years Ended March 31,
  
   
2021
    
2020
  
Revenues:
      
 
      
 
Grid
   $
70,528
     $
49,585
  
Wind
    
16,597
      
14,253
  
Total
   $
87,125
     $
63,838
  
 
   
Fiscal Years Ended March 31,
  
   
2021
    
2020
  
Operating loss:
      
 
      
 
Grid
   $
(13,318
 )   $
(13,508
 )
Wind
    
(3,302
 )    
(7,699
 )
Unallocated corporate expenses
    
(6,545
 )    
(1,922
 )
Total
   $
(23,165
 )   $
(23,129
 )
 
Total assets for the
two
business segments as of 
March 31, 2021
and 
March 31, 2020
are as follows (in thousands):
 
   
March 31, 2021
    
March 31, 2020
  
Grid
   $
81,253
     $
44,044
  
Wind    
6,098
      
14,250
  
Corporate assets
    
81,515
      
65,815
  
Total
   $
168,866
     $
124,109
  
 
The accounting policies of the business segments are the same as those for the consolidated Company. The Company's business segments have been determined in accordance with the Company's internal management structure, which is organized based on operating activities. The Company evaluates performance based upon several factors, of which the primary financial measures are segment revenues and segment operating loss. The disaggregated financial results of the segments reflect allocation of certain functional expense categories consistent with the basis and manner in which Company management internally disaggregates financial information for the purpose of assisting in making internal operating decisions. In addition, certain corporate expenses which the Company does
not
believe are specifically attributable or allocable to either of the
two
business segments have been excluded from the segment operating loss.
 
Unallocated corporate expenses primarily consist of loss on contingent consideration of
$3.0
 million and stock-based compensation expense of $
3.5
million, in the fiscal year ended 
March 31, 2021
. Unallocated corporate expenses primarily consist of stock-based compensation of
$1.9
 million in the year ended
March 31, 2020
.
 
Geographic information about property, plant and equipment associated with particular regions is as follows (in thousands):
 
   
March 31,
  
   
2021
    
2020
  
North America
   $
8,777
     $
8,113
  
Europe
    
174
      
397
  
Asia Pacific
    
46
      
55
  
Total
   $
8,997
     $
8,565