Note 7 - Segment Information (Tables)

9 Months Ended

Dec. 31, 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 nine month periods ending December 31, 2015 and 2014:

Three Months Ended  December 31, 2015	Avionics  Government		Avionics  Commercial		Avionics  Total		Corporate  Items			Total
Net sales	$	5,658,695	$	312,170	$	5,970,865	$	-		$	5,970,865
Cost of sales		3,709,998		226,110		3,936,108		-			3,936,108
Gross margin		1,948,697		86,060		2,034,757		-			2,034,757
Engineering, research, and development						541,502		-			541,502
Selling, general and administrative						203,249		564,674			767,923
Amortization of deferred financing costs						-		1,357			1,357
Change in fair value of common stock warrants						-		246,751			246,751
Interest expense, net						-		23,687			23,687
Total expenses						744,751		836,469			1,581,220
Income (loss) before income taxes					$	1,290,006	$	(836,469	)	$	453,537

Three Months Ended  December 31, 2014	Avionics  Government		Avionics  Commercial		Avionics  Total		Corporate  Items			Total
Net sales	$	4,455,399	$	574,698	$	5,030,097		-		$	5,030,097
Cost of sales		3,015,359		468,951		3,484,310		-			3,484,310
Gross margin		1,440,040		105,747		1,545,787		-			1,545,787
Engineering, research, and development						494,721		-			494,721
Selling, general and administrative						323,862		501,399			825,261
Amortization of debt discount						-		14,373			14,373
Amortization of deferred financing costs						-		13,648			13,648
Loss on extinguishment of debt						-		188,102			188,102
Change in fair value of common stock warrants						-		(37,330	)		(37,330	)
Interest expense, net						-		39,137			39,137
Total expenses						818,583		719,329			1,537,912
Income (loss) before income taxes					$	727,204	$	(719,329	)	$	7,875

Nine Months Ended  December 31, 2015	Avionics  Government		Avionics  Commercial		Avionics  Total		Corporate  Items			Total
Net sales	$	17,248,766	$	1,386,408	$	18,635,174	$	-		$	18,635,174
Cost of sales		11,506,710		1,034,946		12,541,656		-			12,541,656
Gross margin		5,742,056		351,462		6,093,518		-			6,093,518
Engineering, research, and development						1,477,290		-			1,477,290
Selling, general and administrative						908,829		1,608,658			2,517,487
Amortization of deferred financing costs						-		4,072			4,072
Change in fair value of common stock warrants						-		697,579			697,579
Interest expense, net						-		79,156			79,156
Total expenses						2,386,119		2,389,465			4,775,584
Income (loss) before income taxes					$	3,707,399	$	(2,389,465	)	$	1,317,934

Nine Months Ended  December 31, 2014	Avionics  Government		Avionics  Commercial		Avionics  Total		Corporate  Items			Total
Net sales	$	10,002,850	$	1,743,997	$	11,746,847		-		$	11,746,847
Cost of sales		6,800,031		1,411,468		8,211,499		-			8,211,499
Gross margin		3,202,819		332,529		3,535,348		-			3,535,348
Engineering, research, and development						1,476,343		-			1,476,343
Selling, general and administrative						899,579		1,464,909			2,364,488
Amortization of debt discount						-		75,308			75,308
Amortization of deferred financing costs						-		67,808			67,808
Loss on extinguishment of debt								188,102			188,102
Change in fair value of common stock warrants						-		68,750			68,750
Interest expense, net						-		159,004			159,004
Total expenses						2,375,922		2,023,881			4,399,803
Income (loss) before income taxes					$	1,159,426	$	(2,023,881	)	$	(864,455	)