Note 8 - Segment Information (Tables)

6 Months Ended

Sep. 30, 2016

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, 2016 and 2015:

Three Months Ended  September 30, 2016	Avionics Government		Avionics Commercial		Avionics Total		Corporate Items			Total
Net sales	$	4,338,764	$	737,265	$	5,076,029	$	-		$	5,076,029
Cost of sales		2,665,561		584,880		3,250,441		-			3,250,441
Gross margin		1,673,203		152,385		1,825,588		-			1,825,588
Engineering, research, and development						583,771		-			583,771
Selling, general and administrative						346,108		529,030			875,138
Amortization of deferred financing costs						-		1,357			1,357
Change in fair value of common stock warrants						-		(34,000	)		(34,000	)
Interest expense, net						-		17,507			17,507
Total expenses						929,879		513,894			1,443,773
Income (loss) before income taxes					$	895,709	$	(513,894	)	$	381,815

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

Six Months Ended  September 30, 2016	Avionics Government		Avionics Commercial		Avionics Total		Corporate Items			Total
Net sales	$	9,210,384	$	1,208,014	$	10,418,398	$	-		$	10,418,398
Cost of sales		5,770,479		945,678		6,716,157		-			6,716,157
Gross margin		3,439,905		262,336		3,702,241		-			3,702,241
Engineering, research, and development						1,168,648		-			1,168,648
Selling, general and administrative						689,990		1,096,892			1,786,882
Amortization of deferred financing costs						-		2,713			2,713
Change in fair value of common stock warrants						-		(251,203	)		(251,203	)
Interest expense, net						-		35,333			35,333
Total expenses						1,858,638		883,735			2,742,373
Income (loss) before income taxes					$	1,843,603	$	(883,735	)	$	959,868

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