SELECTED QUARTERLY INFORMATION (UNAUDITED)

12 Months Ended

Mar. 31, 2012

SELECTED QUARTERLY INFORMATION (UNAUDITED)

SELECTED QUARTERLY INFORMATION (UNAUDITED)

NOTE 19 - SELECTED QUARTERLY INFORMATION (UNAUDITED)

The following table sets forth certain unaudited quarterly data for each of the four quarters in the years ended March 31, 2012 and 2011. The data has been derived from the Company’s unaudited consolidated financial statements that, in management’s opinion, include all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of such information when read in conjunction with the Consolidated Financial Statements and Notes thereto.  The results of operations for any quarter are not necessarily indicative of the results of operations for any future period.

(in thousands, except for per share data)	First Quarter		Second Quarter			Third Quarter (a)			Fourth Quarter (b)
Year ended March 31, 2012
Net sales	$	9,176	$	7,147		$	10,864		$	6,079
Gross profit	$	2,426	$	1,915		$	740		$	2
Net income (loss)	$	381	$	(88	)	$	(1,148	)	$	(1,268	)
Basic income (loss) per share	$	0.02	$	(0.01	)	$	(0.07	)	$	(0.07	)
Diluted income (loss) per share	$	0.01	$	(0.01	)	$	(0.07	)	$	(0.07	)
Year ended March 31, 2011
Net sales	$	6,154	$	8,381		$	9,670		$	8,079
Gross profit	$	2,316	$	2,585		$	2,856		$	2,159
Net income	$	819	$	856		$	829		$	183
Basic income per share	$	0.06	$	0.06		$	0.06		$	0.01
Diluted income per share	$	0.04	$	0.04		$	0.04		$	0.00

(a)(b) Net Loss for Fiscal 2012 in the third and fourth quarters include contract losses of $518,792 and $1,558,421, respectively. These contract losses increased cost of goods sold and lowered gross profit for the periods.