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Income Taxes (Tables)
 12 Months Ended
Mar. 31, 2025
Income Taxes [Abstract]  
Domestic and Foreign Components of (Loss) Income Before Income Taxes
Domestic and foreign components of (loss) income before income taxes are as follows:
 
   
Years Ended March 31,
     
2025
     
2024
     
2023
 
Domestic and foreign components of (loss) income
           
United States
   $(21,526,000)    $(29,661,000)    $(14,470,000) 
Foreign
    5,839,000     16,593,000     11,361,000 
Loss before income taxes
    (15,687,000)     (13,068,000)     (3,109,000) 
Income Tax Expense
The income tax expense is as follows:
 
                   
   
Years Ended March 31,
     
2025
     
2024
     
2023
 
Current tax expense
                 
Federal
  $1,177,000    $1,696,000    $2,483,000 
State
   631,000     363,000     396,000 
Foreign
   3,780,000     4,553,000     3,426,000 
Total current tax expense
   5,588,000     6,612,000     6,305,000 
Deferred tax (benefit) expense
                 
Federal
   (171,000)     25,320,000     (5,037,000) 
State
   (28,000)     4,249,000     (705,000) 
Foreign
   (1,606,000)     (5,000)     535,000 
Total deferred tax (benefit) expense
   (1,805,000)     29,564,000     (5,207,000) 
Total income tax expense
  $3,783,000    $36,176,000    $1,098,000 
Deferred Income Taxes
Deferred income taxes consist of the following:
 
         
      March 31, 2025       March 31, 2024  
Assets
           
Allowance for bad debts
  $48,000    $44,000 
Customer allowances earned
   3,794,000     4,706,000 
Allowance for stock adjustment returns
   3,344,000     3,620,000 
Inventory adjustments
   8,497,000     7,419,000 
Intangibles, net
   729,000     852,000 
Stock options
   2,561,000     2,723,000 
Operating lease liabilities
   19,333,000     21,251,000 
Estimate for returns
   30,341,000     29,942,000 
Accrued compensation
   2,585,000     2,600,000 
Net operating losses
   3,426,000     4,670,000 
Tax credits
   2,857,000     2,054,000 
Capitalized research credits
   1,147,000     1,158,000 
Plant and equipment, net
   1,460,000     1,010,000 
Other
   4,639,000     6,588,000 
Total deferred tax assets
  $84,761,000    $88,637,000 
Liabilities
           
Contract assets
   (9,020,000)     (10,265,000) 
Operating lease assets
   (16,848,000)     (23,845,000) 
Other
   (2,453,000)     (6,663,000) 
Total deferred tax liabilities
  $(28,321,000)    $(40,773,000) 
Less: valuation allowance
  $(52,233,000)    $(45,399,000) 
Total deferred taxes
  $4,207,000    $2,465,000 
Difference Between Income Tax Expense at the Federal Statutory Rate and Effective Tax Rate
The difference between the income tax expense at the federal statutory rate and the Company’s effective tax rate is as follows:
 
                      
    Years Ended March 31,
    2025   2024   2023
                      
Statutory federal income tax rate
   21.0 %    21.0 %    21.0 %
State income tax rate, net of federal benefit
   1.5 %    10.8 %    3.5 %
Excess tax benefit from share-based compensation
   (1.3 )%    (4.8 )%    - %
Foreign income taxed at different rates
   (3.8 )%    (9.8 )%    (28.7 )%
Non-deductible debt costs
   (1.2 )%    - %
    - %
Non-deductible executive compensation
   (2.5 )%    (2.6 )%    (9.0 )%
Change in valuation allowance
   (40.1 )%    (289.1 )%    (25.8 )%
Uncertain tax positions
   2.6 %    0.9 %    (1.0 )%
Research and development credit
   0.6 %    0.7 %    2.7 %
Other
   (0.9 )%    (3.9 )%    2.0 %
     (24.1 )%    (276.8 )%    (35.3 )%
Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
 
                   
    Years Ended March 31,
      2025       2024       2023  
                   
Balance at beginning of period
  $1,784,000    $1,964,000    $1,975,000 
Additions based on tax positions related to the current year
   53,000     15,000     53,000 
Additions for tax positions of prior year
   43,000     15,000      -  
Reductions for tax positions of prior year
   (518,000)     (210,000)     (64,000) 
Balance at end of period
  $1,362,000    $1,784,000    $1,964,000