Note 7 - Segment Information (Tables)

6 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

The table below presents information about reportable segments within the avionics business for the three and six month periods ending September 30, 2014 and 2013:

Three Months Ended  September 30, 2014	Avionics  Government		Avionics  Commercial		Avionics  Total		Corporate  Items			Total
Net sales	$	3,026,728	$	560,946	$	3,587,674		-		$	3,587,674
Cost of sales		2,270,257		448,073		2,718,330		-			2,718,330
Gross margin		756,471		112,873		869,344		-			869,344
Engineering, research, and development						497,726		-			497,726
Selling, general and administrative						283,434		376,600			660,034
Amortization of debt discount						-		30,061			30,061
Amortization of deferred financing costs						-		27,080			27,080
Change in fair value of common stock warrants						-		(27,801	)		(27,801	)
Interest expense, net						-		57,387			57,387
Total expenses						781,160		463,327			1,244,487
Income (loss) before income taxes					$	88,184	$	(463,327	)	$	(375,143	)

Three Months Ended  September 30, 2013	Avionics Government		Avionics Commercial		Avionics Total		Corporate Items			Total
Net sales	$	3,453,919		580,662		4,034,581		-			4,034,581
Cost of sales		2,419,505		339,327		2,758,832		-			2,758,832
Gross margin		1,034,414		241,335		1,275,749		-			1,275,749
Engineering, research, and development						448,572					448,572
Selling, general, and administrative						293,632		377,778			671,410
Amortization of debt discount								25,600			25,600
Amortization of deferred financing costs						-		27,080			27,080
Change in fair value of common stock warrants						-		67,345			67,345
Interest (income) expense, net						-		97,356			97,356
Total expenses						742,204		595,159			1,337,363
Income (loss) before income taxes					$	533,545		(595,159	)		(61,614	)

Six Months Ended  September 30, 2014	Avionics  Government		Avionics  Commercial		Avionics  Total		Corporate  Items			Total
Net sales	$	5,547,451	$	1,169,299	$	6,716,750		-		$	6,716,750
Cost of sales		3,784,672		942,517		4,727,189		-			4,727,189
Gross margin		1,762,779		226,782		1,989,561		-			1,989,561
Engineering, research, and development						981,622		-			981,622
Selling, general and administrative						575,717		963,510			1,539,227
Amortization of debt discount						-		60,935			60,935
Amortization of deferred financing costs						-		54,160			54,160
Change in fair value of common stock warrants						-		106,080			106,080
Interest expense, net						-		119,867			119,867
Total expenses						1,557,339		1,304,552			2,861,891
Income (loss) before income taxes					$	432,222	$	(1,304,552	)	$	(872,330	)

Six Months Ended  September 30, 2013	Avionics  Government		Avionics  Commercial		Avionics  Total		Corporate  Items			Total
Net sales		6,256,761		977,795		7,234,556		-			7,234,556
Cost of Sales		4,081,751		690,898		4,772,649		-			4,772,649
Gross Margin		2,175,010		286,897		2,461,907		-			2,461,907
Engineering, research, and development						928,949					928,949
Selling, general and administrative						557,777		766,883			1,324,660
Amortization of debt discount								48,587			48,587
Amortization of deferred financing costs								54,160			54,160
Loss on extinguishment of debt								26,600			26,600
Change in fair value of common stock warrants								42,773			42,773
Interest expense, net								201,433			201,433
Total expenses						1,486,726		1,140,436			2,627,162
Income (loss) before income taxes						975,181		(1,140,436	)		(165,255	)