Note 11 - Accounts Payable and Accrued Expenses

3 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

11. Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses at  June 30, 2024 and  March 31, 2024 consisted of the following (in thousands):

	June 30, 2024		March 31, 2024
Accounts payable	$	3,754	$	4,476
Accrued inventories in-transit		2,672		539
Accrued other miscellaneous expenses		2,548		2,366
Accrued contract loss		97		97
Advanced deposits		4,242		2,270
Accrued compensation		5,059		10,326
Income taxes payable		170		346
Accrued product warranty		2,542		2,363
Accrued commissions		1,225		1,452
Total	$	22,309	$	24,235

The Company generally provides a one to three year warranty on its products, commencing upon delivery or installation where applicable. A provision is recorded upon revenue recognition to cost of revenues for estimated warranty expense based on historical experience.

Product warranty activity was as follows (in thousands):

	Three Months Ended June 30,
	2024			2023
Balance at beginning of period	$	2,363		$	2,638
Provisions for warranties during the period		476			208
Settlements during the period		(297	)		(920	)
Balance at end of period	$	2,542		$	1,926