Note 18 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2018

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year Ended March 31,
	2018			2017
Current:
Federal	$	(133,000	)	$	1,124,000
State		183,000			128,000
Foreign		156,000			132,000
Total current		206,000			1,384,000
Deferred:
Federal		(14,000	)		(592,000	)
State		3,000			(67,000	)
Total deferred		(11,000	)		(659,000	)
Total	$	195,000		$	725,000

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year Ended March 31,
	2018					2017
Expected Federal income tax expense U.S. statutory rate	$	818,000		30.8	%	$	(1,434,000	)	34.0	%
State income taxes, net of Federal benefit		129,000		4.9	%		40,000		-0.9	%
Permanent differences, other		21,000		0.8	%		156,000		-3.7	%
Dividend received deduction		-		0.0	%		(302,000	)	7.2	%
Section 831(b) benefit		(320,000	)	-12.1	%		(281,000	)	6.7	%
Change in valuation allowance		(1,116,000	)	-42.1	%		3,868,000		-91.8	%
Domestic production activities deductions		(15,000	)	-0.6	%		(64,000	)	1.5	%
Income attributable to minority interest - Contrail Aviation		(79,000	)	-3.0	%		(45,000	)	1.1	%
Bargain purchase gain		(155,000	)	-5.8	%		-		0.0	%
Tax rate change applied to deferreds		2,297,000		86.6	%		-		0.0	%
Deferred benefit for outside basis difference recorded on Delphax CFC's		(811,000	)	-30.6	%		(1,015,000	)	24.1	%
Deferred benefit for increase in Canadian tax credits for Dephax		(149,000	)	-5.6	%
Recognition of AMT credit as tax receivable		(311,000	)	-11.7	%		-		0.0	%
Deferred state income taxes, net of Federal benefit for Delphax		-		0.0	%		(102,000	)	2.4	%
Other differences, net		(114,000	)	-4.3	%		(96,000	)	2.3	%
Income tax expense	$	195,000		7.3	%	$	725,000		-17.1	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2018			2017
Inventory reserves	$	50,000		$	785,000
Accrued vacation		343,000			475,000
Stock option compensation		67,000			108,000
Property and equipment		264,000			169,000
Warranty reserve		25,000			39,000
Accounts and notes receivable reserve		103,000			290,000
Employee severance reserve		549,000			460,000
Net operating loss carryforwards		6,083,000			6,461,000
Federal/Canadian tax credits		4,486,000			4,648,000
263A inventory capitalization		-			10,000
Unrealized gains/losses and outside basis difference for CFC's		2,324,000			1,995,000
Intangibles		25,000			43,000
Outside basis difference					-
Other		69,000			78,000
Total deferred tax assets		14,388,000			15,561,000
Deferred revenue		(11,000	)		(35,000	)
Prepaid expenses		(337,000	)		(505,000	)
263A inventory capitalization		(28,000	)		-
Bargain purchase gain		(179,000	)		-
Gain on marketable securities (OCI)		(72,000	)		(94,000	)
Outside basis difference		(270,000	)		(34,000	)
Total deferred tax liabilities		(897,000	)		(668,000	)
Net deferred tax asset (liability)	$	13,491,000		$	14,893,000
Less valuation allowance		(13,583,000	)		(14,698,000	)
Net deferred tax asset (liability)	$	(92,000	)	$	195,000