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Note 12 - Accounts Payable and Accrued Expenses

12 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

12. Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses at March 31, 2023 and March 31, 2022 consisted of the following (in thousands):

		*March 31, 2023*				*March 31, 2022*
Accounts payable		$	13,935			$	13,192
Accrued inventories in-transit			2,267				2,212
Accrued other miscellaneous expenses			3,870				2,824
Accrued contract loss			3,464				778
Advanced deposits			5,653				3,021
Accrued compensation			5,430				4,642
Income taxes payable			409				405
Accrued product warranty			2,638				2,066
Accrued restructuring			717				-
Total		$	38,383			$	29,140

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,*
		*2023*				*2022*
Balance at beginning of period		$	2,066			$	2,053
Acquired Warranty Obligation			-				248
Change in accruals for warranties during the period			2,276				618
Settlements during the period			(1,704	)			(853	)
Balance at end of period		$	2,638			$	2,066