Segment Information

12 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

20. Segment Information

In accordance with FAS ASC 280, “Disclosures about Segments of an Enterprise and related information”, the Company determined it has two reportable segments - avionics government and avionics commercial. There are no inter-segment revenues.

The Company is organized primarily on the basis of its avionics products. The avionics government segment consists primarily of the design, manufacture, and sale of test equipment to the U.S. and foreign governments and militaries either directly or through distributors. The avionics commercial segment consists of design, manufacture, and sale of test equipment to domestic and foreign airlines, directly or through commercial distributors, and to general aviation repair and maintenance shops. The Company develops and designs test equipment for the avionics industry and as such, the Company’s products and designs cross segments.

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. Segment assets include accounts receivable and work-in-process inventory. Asset information, other than accounts receivable and work-in-process inventory, is not reported since the Company does not produce such information internally. All long-lived assets are located in the U.S.

The tables below present information about reportable segments for the years ended March 31:

							Corporate/
	Avionics		Avionics		Avionics		Reconciling
2024	Government		Commercial		Total		Items			Total
Net sales	$	6,625,865	$	2,183,222	$	8,809,087	$	-		$	8,809,087
Cost of sales		3,256,280		1,535,454		4,791,734		-			4,791,734
Gross margin		3,369,585		647,768		4,017,353		-			4,017,353
Total expenses (income)					$	2,063,249	$	1,434,270			3,497,519
Income (loss) before income taxes					$	1,954,104	$	(1,434,270	)	$	519,834
Segment Assets					$	6,540,832	$	4,210,958		$	10,751,790

							Corporate/
	Avionics		Avionics		Avionics		Reconciling
2023	Government		Commercial		Total		Items			Total
Net sales	$	6,369,374	$	2,261,783	$	8,631,157	$	-		$	8,631,157
Cost of sales		3,841,293		1,741,114		5,582,407		-			5,582,407
Gross margin		2,528,081		520,669		3,048,750		-			3,048,750
Total expenses (income)					$	2,492,112	$	1,073,320			3,565,432
Income (loss) before income taxes					$	556,638	$	(1,073,320	)	$	(516,682	)
Segment Assets					$	4,486,946	$	10,942,868		$	15,429,814