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Note 11 - Accounts Payable and Accrued Expenses
 12 Months Ended
Mar. 31, 2022
Notes to Financial Statements  
Accounts Payable and Accrued Liabilities Disclosure [Text Block]

11. Accounts Payable and Accrued Expenses

 

Accounts payable and accrued expenses at  March 31, 2022 and  March 31, 2021 consisted of the following (in thousands):

 

  

March 31, 2022

  

March 31, 2021

 

Accounts payable

 $13,192  $5,353 

Accrued inventories in-transit

  2,212   1,460 

Accrued other miscellaneous expenses

  3,602   2,369 

Advanced deposits

  3,021   1,035 

Accrued compensation

  4,642   7,018 

Income taxes payable

  405   522 

Accrued product warranty

  2,066   2,053 

Total

 $29,140  $19,810 

 

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,

 
  

2022

  

2021

 

Balance at beginning of period

 $2,053  $2,015 

Acquired Warranty Obligation

  248   147 

Change in accruals for warranties during the period

  618   643 

Settlements during the period

  (853)  (752)

Balance at end of period

 $2,066  $2,053