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Note 9 - Inventory
3 Months Ended
Jun. 30, 2022
Notes to Financial Statements  
Inventory Disclosure [Text Block]

9. Inventory

 

Inventory, net of reserves, at  June 30, 2022 and  March 31, 2022 consisted of the following (in thousands):

 

   

June 30, 2022

   

March 31, 2022

 

Raw materials

  $ 15,239     $ 11,020  

Work-in-process

    12,077       10,462  

Finished goods

    4,734       1,326  

Deferred program costs

    874       858  

Net inventory

  $ 32,924     $ 23,666  

 

The Company recorded inventory write-downs of $0.3 million and $0.6 million for the three months ended June 30, 2022 and 2021, 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  June 30, 2022, and  March 31, 2022, primarily represent costs incurred on programs where the Company needs to complete performance obligations before the related revenue and costs will be recognized.