Note 13 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2015

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year Ended March 31,
	2015			2014
Current:
Federal	$	1,209,000		$	36,000
State		159,000			176,000
Foreign		(65,000	)		69,000
Total current		1,303,000			281,000
Deferred:
Federal		(315,000	)		779,000
State		(57,000	)		132,000
Total deferred		(372,000	)		911,000
Total	$	931,000		$	1,192,000

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year Ended March 31,
	2015					2014
Expected federal income tax expense U.S. statutory rate	$	1,161,000		34.0	%	$	904,000	34.0	%
State income taxes, net of Federal benefit		67,000		2.0			203,000	7.6
Permanent differences, other		42,000		1.2			15,000	0.6
Section 831(b) benefit		(364,000	)	(10.6	)		-	-
Other differences, net		(25,000	)	0.7			70,000	2.6
Income tax expense	$	931,000		27.3	%	$	1,192,000	44.8	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	March 31,
	2015			2014
Inventory reserves	$	115,000		$	279,000
Accrued vacation		244,000			237,000
Stock option compensation		47,000			150,000
Warranty reserve		85,000			88,000
Accounts and notes receivable reserve		83,000			57,000
Net operating loss carryforwards		-			91,000
Federal credits		-			69,000
263A Inventory Capitalization		145,000			11,000
Other		79,000			6,000
Total deferred tax assets		798,000			988,000
Prepaid expenses		(473,000	)		(616,000	)
Property and equipment		(463,000	)		(1,004,000	)
Total deferred tax liabilities		(936,000	)		(1,620,000	)
Net deferred tax (liability) asset	$	(138,000	)	$	(632,000	)