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Note 8 - Inventory
12 Months Ended
Mar. 31, 2022
Notes to Financial Statements  
Inventory Disclosure [Text Block]

8. Inventory

 

Inventory, net of reserves, at  March 31, 2022 and  March 31, 2021 consisted of the following (in thousands):

 

  

March 31, 2022

  

March 31, 2021

 

Raw materials

 $11,020  $8,255 

Work-in-process

  10,462   3,297 

Finished goods

  1,326   777 

Deferred program costs

  858   977 

Inventory

 $23,666  $13,306 

 

The Company recorded inventory reserves of $1.9 million and $1.8 million for the fiscal years ended  March 31, 2022 and 2021, respectively.  These write downs were based on evaluating its inventory on hand for excess quantities and obsolescence.

 

Deferred program costs as of  March 31, 2022 and  March 31, 2021 primarily represent costs incurred on programs accounted for upon completion of the project when control has transferred to the customer before revenue and costs will be recognized.