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Note 11 - Accounts Payable and Accrued Expenses

6 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

11. Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses at September 30, 2023 and March 31, 2023 consisted of the following (in thousands):

		*September 30, 2023*				*March 31, 2023*
Accounts payable		$	11,393			$	13,935
Accrued inventories in-transit			1,123				2,267
Accrued other miscellaneous expenses			4,237				3,870
Accrued contract loss			2,584				3,464
Advanced deposits			1,156				5,653
Accrued compensation			6,041				5,430
Income taxes payable			297				409
Accrued product warranty			1,892				2,638
Accrued restructuring			226				717
Total		$	28,949			$	38,383

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 September 30,*								*Six Months Ended September 30,*
		*2023*				*2022*				*2023*				*2022*
Balance at beginning of period		$	1,926			$	1,942			$	2,638			$	2,066
Provisions for warranties during the period			644				479				852				656
Settlements during the period			(678	)			(368	)			(1,598	)			(669	)
Balance at end of period		$	1,892			$	2,053			$	1,892			$	2,053