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Note 7 - Inventory
12 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Inventory Disclosure [Text Block]

7. Inventory

 

Inventory, net of reserves, at  March 31, 2024 and  March 31, 2023 consisted of the following (in thousands):

 

  

March 31, 2024

  

March 31, 2023

 

Raw materials

 $20,622  $16,654 

Work-in-process

  14,872   15,200 

Finished goods

  3,840   2,996 

Deferred program costs

  2,523   2,136 

Inventory

 $41,857  $36,986 

 

The Company recorded inventory write-downs of $2.0 million and $1.5 million for the fiscal years ended  March 31, 2024 and 2023, respectively.  These write-downs were based on the Company's evaluation on its inventory on hand for excess quantities and obsolescence.

 

Deferred program costs as of  March 31, 2024 and  March 31, 2023 primarily represent costs incurred on programs where the Company needs to complete performance obligations before the related revenue and costs will be recognized.