Segment Information (Tables)

9 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

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

The tables below present information about reportable segments within the avionics business for the three and nine months ending December 31, 2020 and 2019:

Three Months Ended December 31, 2020	Avionics Government		Avionics Commercial		Avionics Total		Corporate Items			Total
Net sales	$	2,212,507	$	460,235	$	2,672,742	$	-		$	2,672,742
Cost of sales		1,247,606		414,047		1,661,653		-			1,661,653
Gross margin		964,901		46,188		1,011,089		-			1,011,089
Engineering, research, and development						492,432		-			492,432
Selling, general and administrative						215,952		524,744			740,696
Litigation costs						-		1,998			1,998
Interest income						-		(1,591	)		(1,591	)
Other income						-		(758	)		(758	)
Forgiveness of PPP loan						-		(722,577	)		(722,577	)
Interest expense – judgment						-		52,490			52,490
Interest expense						-		8,030			8,030
Total expenses						708,384		(137,664	)		570,720
Income before income taxes					$	302,705	$	137,664		$	440,369

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

Nine Months Ended December 31, 2020	Avionics Government		Avionics Commercial		Avionics Total		Corporate Items			Total
Net sales	$	7,751,936	$	1,196,639	$	8,948,575	$	-		$	8,948,575
Cost of sales		4,145,959		920,093		5,066,052		-			5,066,052
Gross margin		3,605,977		276,546		3,882,523		-			3,882,523
Engineering, research, and development						1,678,940		-			1,678,940
Selling, general and administrative						627,944		1,238,812			1,866,756
Litigation costs						-		10,208			10,208
Interest income						-		(6,316	)		(6,316	)
Forgiveness of PPP loan								(722,577	)		(722,577	)
Other income						-		(14,612	)		(14,612	)
Interest expense – judgment						-		180,124			180,124
Interest expense						-		27,190			27,190
Total expenses						2,306,884		712,829			3,019,713
Income (loss) before income taxes					$	1,575,639	$	(712,829	)	$	862,810

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