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Revenue Recognition (Tables) | 9 Months Ended
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Dec. 31, 2023
Revenue from Contract with Customer [Abstract] |
Revenue Disaggregated by Product Line and Geographic Area | The following table presents the Company’s revenue disaggregated by product line and geographic area:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | December 31, |  |  | December 31, |
Market |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Refining |  | $ | 7,638 |  |  | $ | 6,497 |  |  | $ | 21,794 |  |  | $ | 21,940 |
Chemical/Petrochemical |  |  | 4,130 |  |  |  | 3,927 |  |  |  | 14,536 |  |  |  | 15,606 |
Defense |  |  | 24,330 |  |  |  | 21,687 |  |  |  | 72,265 |  |  |  | 46,342 |
Space |  |  | 2,931 |  |  |  | 3,510 |  |  |  | 10,528 |  |  |  | 14,278 |
Other Commercial |  |  | 4,789 |  |  |  | 4,252 |  |  |  | 17,340 |  |  |  | 15,925 |
Net sales |  | $ | 43,818 |  |  | $ | 39,873 |  |  | $ | 136,463 |  |  | $ | 114,091 |
Geographic Region |  |  |  |  |  |  |  |  |  |  |  |
Asia |  | $ | 4,016 |  |  | $ | 4,226 |  |  | $ | 12,898 |  |  | $ | 12,729 |
Canada |  |  | 1,116 |  |  |  | 557 |  |  |  | 3,107 |  |  |  | 3,261 |
Middle East |  |  | 501 |  |  |  | 621 |  |  |  | 2,219 |  |  |  | 1,766 |
South America |  |  | 65 |  |  |  | 649 |  |  |  | 264 |  |  |  | 2,509 |
U.S. |  |  | 36,822 |  |  |  | 33,163 |  |  |  | 113,567 |  |  |  | 91,657 |
All other |  |  | 1,298 |  |  |  | 657 |  |  |  | 4,408 |  |  |  | 2,169 |
Net sales |  | $ | 43,818 |  |  | $ | 39,873 |  |  | $ | 136,463 |  |  | $ | 114,091 |
The following table presents the Company's revenue percentages disaggregated by revenue recognized over time or upon shipment:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | December 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Revenue recognized over time |  |  | 76 | % |  |  | 80 | % |  |  | 77 | % |  |  | 73 | %
Revenue recognized at shipment |  |  | 24 | % |  |  | 20 | % |  |  | 23 | % |  |  | 27 | %
Schedule of Disaggregation of Revenue | The following table presents the Company’s revenue disaggregated by product line and geographic area:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | December 31, |  |  | December 31, |
Market |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Refining |  | $ | 7,638 |  |  | $ | 6,497 |  |  | $ | 21,794 |  |  | $ | 21,940 |
Chemical/Petrochemical |  |  | 4,130 |  |  |  | 3,927 |  |  |  | 14,536 |  |  |  | 15,606 |
Defense |  |  | 24,330 |  |  |  | 21,687 |  |  |  | 72,265 |  |  |  | 46,342 |
Space |  |  | 2,931 |  |  |  | 3,510 |  |  |  | 10,528 |  |  |  | 14,278 |
Other Commercial |  |  | 4,789 |  |  |  | 4,252 |  |  |  | 17,340 |  |  |  | 15,925 |
Net sales |  | $ | 43,818 |  |  | $ | 39,873 |  |  | $ | 136,463 |  |  | $ | 114,091 |
Geographic Region |  |  |  |  |  |  |  |  |  |  |  |
Asia |  | $ | 4,016 |  |  | $ | 4,226 |  |  | $ | 12,898 |  |  | $ | 12,729 |
Canada |  |  | 1,116 |  |  |  | 557 |  |  |  | 3,107 |  |  |  | 3,261 |
Middle East |  |  | 501 |  |  |  | 621 |  |  |  | 2,219 |  |  |  | 1,766 |
South America |  |  | 65 |  |  |  | 649 |  |  |  | 264 |  |  |  | 2,509 |
U.S. |  |  | 36,822 |  |  |  | 33,163 |  |  |  | 113,567 |  |  |  | 91,657 |
All other |  |  | 1,298 |  |  |  | 657 |  |  |  | 4,408 |  |  |  | 2,169 |
Net sales |  | $ | 43,818 |  |  | $ | 39,873 |  |  | $ | 136,463 |  |  | $ | 114,091 |
The following table presents the Company's revenue percentages disaggregated by revenue recognized over time or upon shipment:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | December 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Revenue recognized over time |  |  | 76 | % |  |  | 80 | % |  |  | 77 | % |  |  | 73 | %
Revenue recognized at shipment |  |  | 24 | % |  |  | 20 | % |  |  | 23 | % |  |  | 27 | %
Schedule of Net Contract Assets (Liabilities) | Net contract assets (liabilities) consisted of the following:
|  | December 31, 2023 |  |  | March 31, 2023 |  |  | Change |  |  | Change due to amounts acquired |  |  | Change due to revenue recognized |  |  | Change due to invoicing customers/ additional deposits |
Unbilled revenue (contract assets) |  | $ | 28,671 |  |  | $ | 39,684 |  |  | $ | (11,013 | ) |  | $ | 302 |  |  | $ | 72,629 |  |  | $ | (83,944 | )
Customer deposits (contract liabilities) |  |  | (63,005 | ) |  |  | (46,042 | ) |  |  | (16,963 | ) |  |  | (389 | ) |  |  | 23,355 |  |  |  | (39,929 | )
Net contract (liabilities) assets |  | $ | (34,334 | ) |  | $ | (6,358 | ) |  | $ | (27,976 | ) |  |  |  |  |  |  |  |  |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5 + Details
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