Segment Information (Tables)

9 Months Ended

Dec. 31, 2019

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 tables below present information about reportable segments within the avionics business for the three and nine month periods ending December 31, 2019 and 2018:

Three Months Ended December 31, 2019	Avionics Government		Avionics Commercial		Avionics Total		Corporate Items			Total
Net sales	$	3,919,605	$	813,530	$	4,733,135	$	-		$	4,733,135
Cost of sales		2,089,563		431,090		2,520,653		-			2,520,653
Gross margin		1,830,042		382,440		2,212,482		-			2,212,482
Engineering, research, and development						580,517		-			580,517
Selling, general and administrative						195,151		414,243			609,394
Litigation costs						-		16,830			16,830
Interest income						-		(2,065	)		(2,065	)
Interest expense - judgment						-		84,715			84,715
Interest expense						-		15,514			15,514
Total expenses						775,668		529,237			1,304,905
Income (loss) before income taxes					$	1,436,814	$	(529,237	)	$	907,577

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

Nine Months Ended December 31, 2019	Avionics Government		Avionics Commercial		Avionics Total		Corporate Items			Total
Net sales	$	9,564,199	$	2,387,566	$	11,951,765	$	-		$	11,951,765
Cost of sales		4,958,219		1,325,827		6,284,046		-			6,284,046
Gross margin		4,605,980		1,061,739		5,667,719		-			5,667,719
Engineering, research, and development						1,631,359		-			1,631,359
Selling, general and administrative						707,755		1,139,273			1,847,028
Litigation costs						-		118,890			118,890
Change in fair value of common stock warrants						-		73,000			73,000
Interest income						-		(4,083	)		(4,083	)
Interest expense - judgment						-		255,821			255,821
Interest expense						-		44,117			44,117
Total expenses						2,339,114		1,627,018			3,966,132
Income (loss) before income taxes					$	3,328,605	$	(1,627,018	)	$	1,701,587

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	)