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Note 11 - Accounts Payable and Accrued Expenses

9 Months Ended

Dec. 31, 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 December 31, 2023 and March 31, 2023 consisted of the following (in thousands):

		*December 31, 2023*				*March 31, 2023*
Accounts payable		$	5,867			$	13,935
Accrued inventories in-transit			928				2,267
Accrued other miscellaneous expenses			4,363				3,870
Accrued contract loss			55				3,464
Advanced deposits			1,948				5,653
Accrued compensation			7,385				5,430
Income taxes payable			322				409
Accrued product warranty			2,031				2,638
Accrued restructuring			103				717
Total		$	23,002			$	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 December 31,*								*Nine Months Ended December 31,*
		*2023*				*2022*				*2023*				*2022*
Balance at beginning of period		$	1,892			$	2,053			$	2,638			$	2,066
Provisions for warranties during the period			360				535				1,212				1,191
Settlements during the period			(221	)			(592	)			(1,819	)			(1,261	)
Balance at end of period		$	2,031			$	1,996			$	2,031			$	1,996