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Note 11 - Accounts Payable and Accrued Expenses
 12 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Accounts Payable and Accrued Liabilities Disclosure [Text Block]

11. Accounts Payable and Accrued Expenses

 

Accounts payable and accrued expenses at  March 31, 2024 and  March 31, 2023 consisted of the following (in thousands):

 

  

March 31, 2024

  

March 31, 2023

 

Accounts payable

 $4,476  $13,935 

Accrued inventories in-transit

  539   2,267 

Accrued other miscellaneous expenses

  2,366   2,662 

Accrued contract loss

  97   3,464 

Advanced deposits

  2,270   5,653 

Accrued compensation

  10,326   5,430 

Income taxes payable

  346   409 

Accrued product warranty

  2,363   2,638 

Accrued commissions

  1,452   1,208 

Accrued restructuring

  —   717 

Total

 $24,235  $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):

 

  

Fiscal Years Ended March 31,

 
  

2024

  

2023

 

Balance at beginning of period

 $2,638  $2,066 

Provisions for warranties during the period

  1,751   2,276 

Settlements during the period

  (2,026)  (1,704)

Balance at end of period

 $2,363  $2,638