Segment Information

9 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Note 12 – Segment Information

In accordance with FASB 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.

The tables below present information about reportable segments within the avionics business for the three and nine months ended December 31, 2024, and 2023:

Three Months Ended December 31, 2024	Avionics Government		Avionics Commercial		Avionics Total			Corporate Items			Total
Net sales	$	2,236,189	$	735,948	$	2,972,137		$	-		$	2,972,137
Cost of sales		1,760,802		576,934		2,337,736			-			2,337,736
Gross margin		475,387		159,014		634,401			-			634,401
Total expenses						880,416			356,440			1,236,856
Loss before income taxes					$	(246,015	)	$	(356,440	)	$	(602,455	)

Three Months Ended December 31, 2023	Avionics Government		Avionics Commercial		Avionics Total		Corporate Items			Total
Net sales	$	2,025,707	$	377,392	$	2,403,099	$	-		$	2,403,099
Cost of sales		1,099,256		335,725		1,434,981		-			1,434,981
Gross margin		926,451		41,667		968,118		-			968,118
Total expenses						469,649		274,296			743,945
Income (loss) before income taxes					$	498,469	$	(274,296	)	$	224,173

Nine Months Ended December 31, 2024	Avionics Government		Avionics Commercial		Avionics Total			Corporate Items			Total
Net sales	$	5,827,518	$	1,764,137	$	7,591,655		$	-		$	7,591,655
Cost of sales		4,590,179		1,414,233		6,004,412			-			6,004,412
Gross margin		1,237,339		349,904		1,587,243			-			1,587,243
Total expenses						2,065,274			1,102,077			3,167,351
Loss before income taxes					$	(478,031	)	$	(1,102,077	)	$	(1,580,108	)

Nine Months Ended December 31, 2023	Avionics Government		Avionics Commercial		Avionics Total		Corporate Items			Total
Net sales	$	5,111,945	$	1,723,178	$	6,835,123	$	-		$	6,835,123
Cost of sales		2,858,652		1,354,319		4,212,971		-			4,212,971
Gross margin		2,253,293		368,859		2,622,152		-			2,622,152
Total expenses						1,461,598		1,168,943			2,630,541
Income (loss) before income taxes					$	1,160,554	$	(1,168,943	)	$	(8,389	)