Note 7 - Segment Information (Tables)

6 Months Ended

Sep. 30, 2015

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, 2015 and 2014:

Three Months Ended  September 30, 2015	Avionics  Government		Avionics  Commercial		Avionics  Total		Corporate  Items			Total
Net sales	$	6,328,752	$	489,638	$	6,818,390	$	-		$	6,818,390
Cost of sales		4,235,118		339,806		4,574,924		-			4,574,924
Gross margin		2,093,634		149,832		2,243,466		-			2,243,466
Engineering, research, and development						443,656		-			443,656
Selling, general and administrative						344,951		538,925			883,876
Amortization of deferred financing costs						-		1,358			1,358
Change in fair value of common stock warrants						-		518,588			518,588
Interest expense, net						-		25,835			25,835
Total expenses						788,607		1,084,706			1,873,313
Income (loss) before income taxes					$	1,454,859	$	(1,084,706	)	$	370,153

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	)

Six Months Ended  September 30, 2015	Avionics  Government		Avionics  Commercial		Avionics  Total		Corporate  Items			Total
Net sales	$	11,590,071	$	1,074,238	$	12,664,309	$	-		$	12,664,309
Cost of sales		7,796,712		808,836		8,605,548		-			8,605,548
Gross margin		3,793,359		265,402		4,058,761		-			4,058,761
Engineering, research, and development						935,788		-			935,788
Selling, general and administrative						705,580		1,043,984			1,749,564
Amortization of deferred financing costs						-		2,715			2,715
Change in fair value of common stock warrants						-		450,828			450,828
Interest expense, net						-		55,469			55,469
Total expenses						1,641,368		1,552,996			3,194,364
Income (loss) before income taxes					$	2,417,393	$	(1,552,996	)	$	864,397

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	)