Note 10 - Segment Information (Tables)

6 Months Ended

Sep. 30, 2017

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 month periods ending September 30, 2017 and 2016:

Three Months Ended  September 30, 2017	Avionics Government		Avionics Commercial		Avionics Total			Corporate Items			Total
Net sales	$	1,028,693	$	758,472	$	1,787,165		$	-		$	1,787,165
Cost of sales		660,589		726,706		1,387,295			-			1,387,295
Gross margin		368,104		31,766		399,870			-			399,870
Engineering, research, and development						529,667			-			529,667
Selling, general and administrative						277,518			348,877			626,395
Litigation costs									43,333			43,333
Legal damages									2,100,000			2,100,000
Amortization of deferred financing costs						-			1,357			1,357
Change in fair value of common stock warrants						-			5,000			5,000
Proceeds from life insurance									-			-
Interest expense, net						-			14,707			14,707
Total expenses						807,185			2,513,274			3,320,459
Income (loss) before income taxes					$	(407,315	)	$	(2,513,274	)	$	(2,920,589	)

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		340,905			687,013
Litigation costs								188,125			188,125
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

Six Months Ended  September 30, 2017	Avionics Government		Avionics Commercial		Avionics Total			Corporate Items			Total
Net sales	$	4,001,019	$	1,328,223	$	5,329,242		$	-		$	5,329,242
Cost of sales		2,475,742		1,212,340		3,688,082			-			3,688,082
Gross margin		1,525,277		115,883		1,641,160			-			1,641,160
Engineering, research, and development						1,144,940			-			1,144,940
Selling, general and administrative						636,185			696,496			1,332,681
Litigation costs									425,845			425,845
Legal damages									2,100,000			2,100,000
Amortization of deferred financing costs						-			2,714			2,714
Change in fair value of common stock warrants						-			(90,000	)		(90,000	)
Proceeds from life insurance									(92,678	)		(92,678	)
Interest expense, net						-			24,338			24,338
Total expenses						1,781,125			3,066,715			4,847,840
Income (loss) before income taxes					$	(139,965	)	$	(3,066,715	)	$	(3,206,680	)

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		770,052			1,460,042
Litigation expenses								326,840			326,840
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