Note 10 - Segment Information (Tables)

9 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

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

Management evaluates the performance of its segments and allocates resources to them based on gross margin. The Company’s general and administrative costs and sales and marketing expenses, and engineering costs are not segment specific. As a result, all operating expenses are not managed on a segment basis. Net interest includes expenses on debt and income earned on cash balances, both maintained at the corporate level. The table below presents information about reportable segments within the avionics business for the three and nine month periods ending December 31, 2018 and 2017:

Three Months Ended  December 31, 2018	Avionics Government		Avionics Commercial		Avionics Total		Corporate Items			Total
Net sales	$	3,484,380	$	491,356	$	3,975,736	$	-		$	3,975,736
Cost of sales		1,735,573		270,559		2,006,132		-			2,006,132
Gross margin		1,748,807		220,797		1,969,604		-			1,969,604
Engineering, research, and development						622,082		-			622,082
Selling, general and administrative						228,107		302,073			530,180
Litigation costs								59,680			59,680
Change in fair value of common stock warrants								23,000			23,000
Interest income						-		(1,010	)		(1,010	)
Interest expense - judgment								72,003			72,003
Interest expense						-		24,216			24,216
Total expenses						850,189		479,962			1,330,151
Income (loss) before income taxes					$	1,119,415	$	(479,962	)	$	639,453

Three Months Ended  December 31, 2017	Avionics Government		Avionics Commercial		Avionics Total		Corporate Items			Total
Net sales	$	1,825,744	$	800,049	$	2,625,793	$	-		$	2,625,793
Cost of sales		1,013,481		675,632		1,689,113		-			1,689,113
Gross margin		812,263		124,417		936,680		-			936,680
Engineering, research, and development						546,691		-			546,691
Selling, general and administrative						225,610		322,781			548,391
Litigation costs								134,765			134,765
Legal damages								30,523			30,523
Amortization of deferred financing costs						-		649			649
Change in fair value of common stock warrants						-		(5,000	)		(5,000	)
Proceeds from life insurance								-			-
Interest expense						-		14,097			14,097
Total expenses						772,301		497,815			1,270,116
Income (loss) before income taxes					$	164,379	$	(497,815	)	$	(333,436	)

Nine Months Ended  December 31, 2018	Avionics Government		Avionics Commercial		Avionics Total		Corporate Items			Total
Net sales	$	5,861,061	$	2,151,830	$	8,012,891	$	-		$	8,012,891
Cost of sales		3,211,417		1,351,344		4,562,761		-			4,562,761
Gross margin		2,649,644		800,486		3,450,130		-			3,450,130
Engineering, research, and development						1,642,785		-			1,642,785
Selling, general and administrative						639,414		1,012,702			1,652,116
Litigation costs								134,799			134,799
Change in fair value of common stock warrants						-		23,000			23,000
Interest income								(3,017	)		(3,017	)
Interest expense - judgment								215,226			215,226
Interest expense						-		83,251			83,251
Total expenses						2,282,199		1,465,961			3,748,160
Income (loss) before income taxes					$	1,167,931	$	(1,465,961	)	$	(298,030	)

Nine Months Ended  December 31, 2017	Avionics Government		Avionics Commercial		Avionics Total		Corporate Items			Total
Net sales	$	5,826,763	$	2,128,272	$	7,955,035	$	-		$	7,955,035
Cost of sales		3,489,223		1,887,972		5,377,195		-			5,377,195
Gross margin		2,337,540		240,300		2,577,840		-			2,577,840
Engineering, research, and development						1,691,631		-			1,691,631
Selling, general and administrative						861,795		1,019,277			1,881,072
Litigation costs								560,610			560,610
Legal damages								2,130,523			2,130,523
Amortization of deferred financing costs						-		3,363			3,363
Change in fair value of common stock warrants						-		(95,000	)		(95,000	)
Proceeds from life insurance								(92,678	)		(92,678	)
Interest expense, net						-		38,435			38,435
Total expenses						2,553,426		3,564,530			6,117,956
Income (loss) before income taxes					$	24,414	$	(3,564,530	)	$	(3,540,116	)