SELECTED QUARTERLY INFORMATION (UNAUDITED)

12 Months Ended

Mar. 31, 2017

SELECTED QUARTERLY INFORMATION (UNAUDITED)

SELECTED QUARTERLY INFORMATION (UNAUDITED)

NOTE 18 – 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, 2017 and 2016. The data has been derived from our 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. Net Income for each of the periods presented includes contract losses and unabsorbed overhead that increased cost of goods sold and lowered gross profit. The results of operations for any quarter are not necessarily indicative of the results of operations for any future period.

	First		Second		Third		Fourth
(in thousands, except for per share data)	Quarter		Quarter		Quarter		Quarter
Year ended March 31, 2017
Net Sales	$	4,644	$	3,656	$	5,319	$	4,931
Gross Profit	$	1,535	$	1,474	$	2,052	$	1,035
Net Income	$	445	$	546	$	992	$	3,097
Basic Income per share	$	0.02	$	0.02	$	0.03	$	0.11
Diluted Income per share	$	0.02	$	0.02	$	0.03	$	0.11
Year ended March 31, 2016
Net Sales	$	4,374	$	4,103	$	3,507	$	4,869
Gross Profit	$	1,283	$	1,408	$	1,072	$	1,731
Net Income	$	206	$	255	$	12	$	885
Basic Income per share	$	0.01	$	0.01	$	0.00	$	0.03
Diluted Income per share	$	0.01	$	0.01	$	0.00	$	0.03