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Note 12 - Income Taxes | 12 Months Ended
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Mar. 31, 2013
Income Tax Disclosure [Text Block] | 12. INCOME TAXES The provision for income taxes is as follows:
|  | Year Ended March 31, |
|  | 2013 |  |  | 2012 |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | 820,000 |  |  | $ | 195,000 |
State |  |  | 146,000 |  |  |  | 41,000 |
Foreign |  |  | 69,000 |  |  |  | 105,000 |
Total current |  |  | 1,035,000 |  |  |  | 341,000 |
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | 21,000 |  |  |  | 347,000 |
State |  |  | 4,000 |  |  |  | 58,000 |
Total deferred |  |  | 25,000 |  |  |  | 405,000 |
Total |  | $ | 1,060,000 |  |  | $ | 746,000 |
The income tax provision was different from the amount computed using the statutory Federal income tax rate for the following reasons:
|  | Year Ended March 31, |
|  | 2013 |  |  | 2012 |
Income tax provision at U.S. statutory rate |  | $ | 928,000 |  |  |  | 34.0 | % |  | $ | 713,000 |  |  |  | 34.0 | %
State income taxes, net of Federal benefit |  |  | 99,000 |  |  |  | 3.6 |  |  |  | 60,000 |  |  |  | 2.9 |
Permanent differences, other |  |  | 30,000 |  |  |  | 1.1 |  |  |  | 32,000 |  |  |  | 1.5 |
Other differences, net |  |  | 3,000 |  |  |  | 0.1 |  |  |  | (59,000 | ) |  |  | (2.8 | )
Income tax provision |  | $ | 1,060,000 |  |  |  | 38.8 | % |  | $ | 746,000 |  |  |  | 35.6 | %
Deferred tax assets and liabilities consisted of the following as of:
|  | March 31, |
|  | 2013 |  |  | 2012 |
Stock option compensation |  | $ | 360,000 |  |  | $ | 353,000 |
Inventory reserves |  |  | 296,000 |  |  |  | 290,000 |
Accrued vacation |  |  | 227,000 |  |  |  | 202,000 |
Warranty reserve |  |  | 78,000 |  |  |  | 95,000 |
Accounts and notes receivable reserve |  |  | 25,000 |  |  |  | 108,000 |
Other |  |  | 16,000 |  |  |  | 21,000 |
Gross deferred tax assets |  |  | 1,002,000 |  |  |  | 1,069,000 |
Prepaid expenses |  |  | (232,000 | ) |  |  | (286,000 | )
Property and equipment |  |  | (429,000 | ) |  |  | (417,000 | )
Gross deferred tax liabilities |  |  | (661,000 | ) |  |  | (703,000 | )
Net deferred tax asset |  | $ | 341,000 |  |  | $ | 366,000 |
The deferred tax items are reported on a net current and non-current basis in the accompanying fiscal 2013 and 2012 consolidated balance sheets according to the classification of the related asset and liability. The Company accounts for uncertain tax positions in accordance with accounting principles generally accepted in the United States of America. The Company has analyzed filing positions in all of the federal, state and international jurisdictions where it is required to file income tax returns, as well as all open tax years in these jurisdictions. The periods subject to examination for the Company’s federal and state returns are the fiscal 2008 through 2012 tax years. The Company was recently notified that its federal tax return for the year ended March 31, 2011 will be examined. As of March 31, 2013 and 2012, the Company did not have any unrecognized tax benefits. It is the Company’s policy to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. As of March 31, 2013 and 2012, the Company did not have any accrued interest or penalties associated with any unrecognized tax benefits, nor was any interest expense recognized during the years ended March 31, 2013 and 2012.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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