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Note 11 - Accounts Payable and Accrued Expenses

9 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

11. Accounts Payable and Accrued Expenses

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

		*December 31, 2021*				*March 31, 2021*
Accounts payable		$	10,438			$	5,353
Accrued inventories in-transit			1,711				1,460
Accrued other miscellaneous expenses			3,517				2,369
Advanced deposits			2,153				1,035
Accrued compensation			3,691				7,018
Income taxes payable			604				522
Accrued product warranty			2,218				2,053
Total		$	24,332			$	19,810

The Company generally provides a one to three year warranty on its products, commencing upon delivery or installation where applicable. 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):

		*Three Months Ended December 31,*								*Nine Months Ended December 31,*
		*2021*				*2020*				*2021*				*2020*
Balance at beginning of period		$	2,155			$	2,109			$	2,053			$	2,015
Acquired warranty obligations			-				147				248				147
Change in accruals for warranties during the period			206				124				520				507
Settlements during the period			(143	)			(360	)			(603	)			(649	)
Balance at end of period		$	2,218			$	2,020			$	2,218			$	2,020