Annual report [Section 13 and 15(d), not S-K Item 405]

Property, Plant, Equipment and Rental Assets

v3.26.1
Property, Plant, Equipment and Rental Assets
 12 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Property, Plant, Equipment and Rental Assets

7. Property, Plant, Equipment and Rental Assets

Property, plant, equipment and rental assets consisted of the following (in thousands):

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March 31,

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March 31,

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2026

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2025

 

Machinery, equipment, automobiles and furniture

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$

13,441

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$

14,467

 

Leasehold improvements

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8,941

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8,919

 

Molds and tooling

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3,465

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3,510

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Rental assets

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27,204

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27,963

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Total property, plant, equipment and rental assets

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53,051

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54,859

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Less: accumulated depreciation

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(36,866)

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(35,497)

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Total property, plant, equipment and rental assets, net

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$

16,185

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$

19,362

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The Company regularly assesses the useful lives of property and equipment and retires assets no longer in service. Depreciation expense for property, plant, equipment and rental assets was $3.9 million for Fiscal 2026 and 2025, respectively. There was no inventory converted to rental assets during Fiscal 2026 and Fiscal 2025, respectively. There were no direct sales of rental assets sold as product revenue and cost of goods sold in Fiscal 2026. Direct sales of rental assets sold as product revenue and cost of goods sold in Fiscal 2025 had a net book value of $3.1 million. The depreciation expense recorded to cost of sales during Fiscal 2026 and 2025, was $3.7 million, respectively.