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Note 11 - Accounts Payable and Accrued Expenses

9 Months Ended

Dec. 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 December 31, 2022 and March 31, 2022 consisted of the following (in thousands):

		*December 31, 2022*				*March 31, 2022*
Accounts payable		$	13,548			$	13,192
Accrued inventories in-transit			2,126				2,212
Accrued other miscellaneous expenses			6,539				3,602
Advanced deposits			3,152				3,021
Accrued compensation			4,281				4,642
Income taxes payable			418				405
Accrued product warranty			1,996				2,066
Total		$	32,060			$	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 December 31,*								*Nine Months Ended December 31,*
		*2022*				*2021*				*2022*				*2021*
Balance at beginning of period		$	2,053			$	2,155			$	2,066			$	2,053
Acquired warranty obligations			-				-				-				248
Change in accruals for warranties during the period			535				206				1,191				520
Settlements during the period			(592	)			(143	)			(1,261	)			(603	)
Balance at end of period		$	1,996			$	2,218			$	1,996			$	2,218