BALANCE SHEET DETAIL

12 Months Ended

May 31, 2022

BALANCE SHEET DETAIL

BALANCE SHEET DETAIL

6. BALANCE SHEET DETAIL:

INVENTORIES:

	May 31,
(In Thousands)	2022		2021
Raw materials and sub-assemblies	$	9,507	$	5,859
Work in process		5,461		2,988
Finished goods		83		2
	$	15,051	$	8,849

During the year ended May 31, 2022, 2021, and 2020, the Company wrote down $1,031,000, $176,000, and $1,669,000 of inventory, respectively.

PROPERTY AND EQUIPMENT, NET:

	May 31,
(In Thousands)	2022			2021
Leasehold improvements	$	1,230		$	1,214
Furniture and fixtures		697			627
Machinery and equipment		4,013			3,343
Test equipment		2,523			2,525
		8,463			7,709
Less: Accumulated depreciation and amortization		(7,260	)		(7,032	)
	$	1,203		$	677

Depreciation expense was $307,000, $310,000 and $384,000 for fiscal 2022, 2021, and 2020, respectively.

ACCRUED EXPENSES:

	May 31,
(In Thousands)	2022		2021
Commissions and bonuses	$	1,505	$	413
Payroll related		1,401		1,020
Warranty		410		494
Professional services		204		168
Investor relations		44		22
Accrued interest		-		16
Taxes payable		13		5
Other		33		25
	$	3,610	$	2,163

 CUSTOMER DEPOSITS AND DEFERRED REVENUE, SHORT-TERM: 

	May 31,
(In Thousands)	2022		2021
Customer deposits	$	2,263	$	27
Deferred revenue		152		162
	$	2,415	$	189