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Note 9 - Inventory
 6 Months Ended
Sep. 30, 2021
Notes to Financial Statements  
Inventory Disclosure [Text Block]

9. Inventory

 

Inventory, net of reserves, at  September 30, 2021 and  March 31, 2021 consisted of the following (in thousands):

 

  

September 30, 2021

  

March 31, 2021

 

Raw materials

 $11,396  $8,255 

Work-in-process

  7,533   3,297 

Finished goods

  1,815   777 

Deferred program costs

  830   977 

Net inventory

 $21,574  $13,306 

 

The Company recorded inventory write-downs of $0.6 million and $0.5 million for the three months ended September 30, 2021, and 2020, respectively. The Company recorded inventory write-downs of $1.2 million and $1.3 million for the six months ended September 30, 2021 and 2020, respectively.  These write-downs were based on the Company's evaluation of its inventory on hand for excess quantities and obsolescence.

 

Deferred program costs as of  September 30, 2021, and  March 31, 2021, primarily represent costs incurred on programs where the Company needs to complete performance obligations before the related revenue and costs will be recognized.