Income Taxes (Tables)

12 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Provision for Income Tax Expense

The Company’s provision for income tax expense for fiscal 2021 and fiscal 2020 was as follows:

	2021		2020
	(In thousands)
Current:
Federal	$	—	$	—
Foreign, state and other		15		6
Deferred:
Federal		—		346
Foreign, state and other		—		105
Provision for income tax expense	$	15	$	457

Effective Rate Reflected in Provision for Income Taxes and Amounts Determined by Applying Statutory Federal Rate

The difference between the effective rate reflected in the provision for income taxes and the amounts determined by applying the statutory federal rate of 21% to earnings before income taxes for fiscal 2021 and fiscal 2020 is analyzed below

	2021			2020
	(In thousands)
Statutory provision	$	(832	)	$	(805	)
Foreign subsidiary		(14	)		(51	)
State taxes		(184	)		(267	)
Permanent differences		31			17
Adjustment to prior year taxes		399			27
Valuation allowance		615			1,536
Provision for income tax expense	$	15		$	457

Components of Deferred Tax Assets Classified as Non-Current

As of March 31, 2021 and March 31, 2020, the significant components of the Company’s deferred tax assets which were classified as non-current, were as follows:

	2021			2020
	(In thousands)
Deferred tax assets:
Accounts receivable reserves	$	32		$	38
Inventory reserves		162			164
Accruals		18			20
Property, plant and equipment and intangible assets		67			91
Net operating loss and credit carry forwards		3,237			2,588
Valuation allowance		(3,516	)		(2,901	)
Total deferred tax assets	$	—		$	—

State Net Operating Loss

The Company has $14.5 million of state NOLs as of March 31, 2021 as follows

Loss Year (Fiscal)	Included in DTA	Expiration Year (Fiscal)
2016	$1.4 million		2034
2017	$0.8 million		2036
2018	$2.6 million	2037
2019	$2.7 million	2038
2020	$3.0 million	2039
2021	$4.0 million	2040