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BALANCE SHEET INFORMATION (Tables)
6 Months Ended
Nov. 30, 2023
BALANCE SHEET INFORMATION  
Inventories

 

 

November 30,

 

 

May 31,

 

(In thousands)

 

2023

 

 

2023

 

Raw materials and sub-assemblies

 

$20,717

 

 

$15,953

 

Work in process

 

 

11,926

 

 

 

5,764

 

Finished goods

 

 

1,174

 

 

 

2,191

 

 

 

$33,817

 

 

$23,908

 

Property and equipment, net

 

 

Useful life

 

November 30,

 

 

May 31,

 

(In thousands)

 

(in years)

 

2023

 

 

2023

 

Leasehold improvements

 

 *

 

$1,553

 

 

$1,310

 

Machinery and equipment

 

 3 - 6

 

 

5,782

 

 

 

5,445

 

Test equipment

 

 4 - 6

 

 

3,121

 

 

 

2,998

 

Furniture and fixtures

 

 2 - 6

 

 

702

 

 

 

706

 

 

 

 

 

 

11,158

 

 

 

10,459

 

Less: accumulated depreciation and amortization

 

 

 

 

(7,973)

 

 

(7,700)

 

 

 

 

$3,185

 

 

$2,759

 

Liability for product warranties

 

 

Three Months Ended November 30,

 

 

Six Months Ended November 30,

 

(In thousands)

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Balance at the beginning of the period

 

$232

 

 

$424

 

 

$267

 

 

$410

 

Accruals for warranties issued during the period

 

 

162

 

 

 

5

 

 

 

227

 

 

 

123

 

Adjustments to previously existing warranty accruals

 

 

-

 

 

 

-

 

 

 

-

 

 

 

61

 

Consumption of reserves

 

 

(173)

 

 

(118)

 

 

(273)

 

 

(283)

Balance at the end of the period

 

$221

 

 

$311

 

 

$221

 

 

$311

 

Customer deposits and deferred revenue, short-term

 

 

November 30,

 

 

May 31,

 

(In thousands)

 

2023

 

 

2023

 

Customer deposits

 

$68

 

 

$2,690

 

Deferred revenue

 

 

79

 

 

 

132

 

 

 

$147

 

 

$2,822