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Note 11 - Accounts Payable and Accrued Expenses

3 Months Ended

Jun. 30, 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 June 30, 2022 and March 31, 2022 consisted of the following (in thousands):

		*June 30, 2022*				*March 31, 2022*
Accounts payable		$	19,213			$	13,192
Accrued inventories in-transit			2,206				2,212
Accrued other miscellaneous expenses			3,697				3,602
Advanced deposits			2,607				3,021
Accrued compensation			5,384				4,642
Income taxes payable			355				405
Accrued product warranty			1,942				2,066
Total		$	35,404			$	29,140

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 June 30,*
		*2022*				*2021*
Balance at beginning of period		$	2,066			$	2,053
Acquired warranty obligations			-				248
Change in accruals for warranties during the period			178				107
Settlements during the period			(302	)			(222	)
Balance at end of period		$	1,942			$	2,186