Commitments and Contingencies

12 Months Ended

Mar. 31, 2018

Commitments And Contingencies Disclosure [Abstract]

NOTE 6 — COMMITMENTS AND CONTINGENCIES:

Leases:

The Company leases warehouse and office space from non-affiliated companies, with annual commitments as follows (in thousands). Also included are commitments to the Company’s ERP software provider:

Fiscal Years	Amount
2018		286
2019		162
2020		86
2021		81
Thereafter		68
Total	$	683

Rent expense resulting from leases with non-affiliated companies aggregated $261,000 and $264,000, respectively, for fiscal 2018 and 2017.

Letters of Credit:

The Company utilizes the services of one of its banks to issue secured letters of credit on behalf of the Company, as needed, on a 100% cash collateralized basis. At March 31, 2018 and March 31, 2017, the Company had no letters of credit outstanding.

Capital Expenditure and Other Commitments:

As of March 31, 2018, there were no capital expenditure or other commitments other than the normal purchase orders used to secure product.

Employee Benefit Plan:

The Company currently sponsors a defined contribution 401(k) retirement plan which is subject to the provisions of the Employee Retirement Income Security Act. The Company matches a percentage of the participants’ contributions up to a specified amount. These contributions to the plan for fiscal 2018 and 2017 were $32,000 and $42,000, respectively, and were charged against earnings for the periods presented.