Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Jan. 28, 2023 | Mar. 06, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000069891 | |
Entity Registrant Name | National Beverage Corp. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --04-29 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jan. 28, 2023 | |
Document Transition Report | false | |
Entity File Number | 1-14170 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 59-2605822 | |
Entity Address, Address Line One | 8100 SW Tenth Street, Suite 4000 | |
Entity Address, City or Town | Fort Lauderdale | |
Entity Address, State or Province | FL | |
Entity Address, Postal Zip Code | 33324 | |
City Area Code | 954) | |
Local Phone Number | 581-0922 | |
Title of 12(b) Security | Common Stock, par value $.01 per share | |
Trading Symbol | FIZZ | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 93,352,946 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jan. 28, 2023 | Apr. 30, 2022 |
Assets | ||
Cash and equivalents | $ 118,324 | $ 48,050 |
Trade receivables - net | 97,104 | 93,592 |
Inventories | 93,591 | 103,318 |
Prepaid and other assets | 14,899 | 29,560 |
Total current assets | 323,918 | 274,520 |
Property, plant and equipment - net | 142,968 | 144,258 |
Right-of-use assets | 38,844 | 29,251 |
Goodwill | 13,145 | 13,145 |
Intangible assets | 1,615 | 1,615 |
Other assets | 5,904 | 5,015 |
Total assets | 526,394 | 467,804 |
Liabilities and Shareholders' Equity | ||
Accounts payable | 68,988 | 95,299 |
Accrued liabilities | 44,175 | 39,090 |
Short-term lease obligations | 11,892 | 10,543 |
Income taxes payable | 467 | 387 |
Total current liabilities | 125,522 | 145,319 |
Long-term debt | 0 | 30,000 |
Deferred income taxes net | 24,589 | 23,823 |
Long-term lease obligations | 28,987 | 20,703 |
Other liabilities | 7,792 | 8,521 |
Total liabilities | 186,890 | 228,366 |
Shareholders' equity: | ||
Preferred stock, $1 par value - 1,000,000 shares authorized: Series C - 150,000 shares issued | 150 | 150 |
Common stock, $.01 par value - 200,000,000 shares authorized; 101,727,058 shares issued (101,712,358 shares at April 30) | 1,017 | 1,017 |
Additional paid-in capital | 40,204 | 39,405 |
Retained earnings | 322,042 | 216,181 |
Accumulated other comprehensive income | 324 | 6,918 |
Total shareholders' equity | 339,504 | 239,438 |
Total liabilities and shareholders' equity | 526,394 | 467,804 |
Series C Preferred Stock [Member] | ||
Shareholders' equity: | ||
Treasury stock, value | (5,100) | (5,100) |
Common Stock [Member] | ||
Shareholders' equity: | ||
Treasury stock, value | $ (19,133) | $ (19,133) |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jan. 28, 2023 | Apr. 30, 2022 |
Preferred stock, par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 150,000 | 150,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
common stock, shares authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, shares issued (in shares) | 101,727,058 | 101,712,358 |
Series C Preferred Stock [Member] | ||
Treasury stock, shares (in shares) | 150,000,000 | 150,000,000 |
Common Stock [Member] | ||
Treasury stock, shares (in shares) | 8,374,112,000 | 8,374,112,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jan. 28, 2023 | Jan. 29, 2022 | Jan. 28, 2023 | Jan. 29, 2022 | |
Net sales | $ 268,483 | $ 258,923 | $ 886,233 | $ 853,793 |
Cost of sales | 173,561 | 165,124 | 591,914 | 533,738 |
Gross profit | 94,922 | 93,799 | 294,319 | 320,055 |
Selling, general and administrative expenses | 50,488 | 53,103 | 156,484 | 157,470 |
Operating income | 44,434 | 40,696 | 137,835 | 162,585 |
Other income (expense)- net | 482 | (81) | 484 | (103) |
Income before income taxes | 44,916 | 40,615 | 138,319 | 162,482 |
Provision for income taxes | 10,555 | 9,547 | 32,458 | 38,314 |
Net income | $ 34,361 | $ 31,068 | $ 105,861 | $ 124,168 |
Earnings per common share: | ||||
Basic (in dollars per share) | $ 0.37 | $ 0.33 | $ 1.13 | $ 1.33 |
Diluted (in dollars per share) | $ 0.37 | $ 0.33 | $ 1.13 | $ 1.33 |
Weighted average common shares outstanding: | ||||
Basic (in shares) | 93,353 | 93,329 | 93,345 | 93,319 |
Diluted (in shares) | 93,611 | 93,611 | 93,604 | 93,608 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jan. 28, 2023 | Jan. 29, 2022 | Jan. 28, 2023 | Jan. 29, 2022 | |
Net income | $ 34,361 | $ 31,068 | $ 105,861 | $ 124,168 |
Cash flow hedges | (9,856) | (7,984) | 6,594 | (5,271) |
Comprehensive income | $ 44,217 | $ 39,052 | $ 99,267 | $ 129,439 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Preferred Stock [Member] Series C Preferred Stock [Member] | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock, Preferred [Member] Series C Preferred Stock [Member] | Treasury Stock, Common [Member] |
Balance (in shares) at May. 01, 2021 | 101,676,000 | |||||||
Balance at May. 01, 2021 | $ 1,016 | $ 38,375 | $ 337,672 | $ 3,017 | ||||
Stock options exercised (in shares) | 33,000 | |||||||
Stock options exercised | $ 1 | 292 | ||||||
Stock-based compensation | 524 | |||||||
Net income | $ 124,168 | 124,168 | ||||||
Common stock cash dividend | (280,003) | |||||||
Cash flow hedges, net of tax | 5,271 | 5,271 | ||||||
Balance (in shares) at Jan. 29, 2022 | 150,000 | 101,709,000 | 150,000 | 8,374,000 | ||||
Balance at Jan. 29, 2022 | 206,250 | $ 150 | $ 1,017 | 39,191 | 181,837 | 8,288 | $ (5,100) | $ (19,133) |
Balance (in shares) at Oct. 30, 2021 | 101,696,000 | |||||||
Balance at Oct. 30, 2021 | $ 1,017 | 38,836 | 430,772 | 304 | ||||
Stock options exercised (in shares) | 13,000 | |||||||
Stock options exercised | $ 0 | 181 | ||||||
Stock-based compensation | 174 | |||||||
Net income | 31,068 | 31,068 | ||||||
Common stock cash dividend | (280,003) | |||||||
Cash flow hedges, net of tax | 7,984 | 7,984 | ||||||
Balance (in shares) at Jan. 29, 2022 | 150,000 | 101,709,000 | 150,000 | 8,374,000 | ||||
Balance at Jan. 29, 2022 | 206,250 | $ 150 | $ 1,017 | 39,191 | 181,837 | 8,288 | $ (5,100) | $ (19,133) |
Balance (in shares) at Apr. 30, 2022 | 101,712,000 | |||||||
Balance at Apr. 30, 2022 | $ 239,438 | $ 1,017 | 39,405 | 216,181 | 6,918 | |||
Stock options exercised (in shares) | 14,700 | 15,000 | ||||||
Stock options exercised | 292 | |||||||
Stock-based compensation | 507 | |||||||
Net income | $ 105,861 | 105,861 | ||||||
Common stock cash dividend | 0 | |||||||
Cash flow hedges, net of tax | (6,594) | (6,594) | ||||||
Balance (in shares) at Jan. 28, 2023 | 150,000 | 101,727,000 | 150,000 | 8,374,000 | ||||
Balance at Jan. 28, 2023 | 339,504 | $ 150 | $ 1,017 | 40,204 | 322,042 | 324 | $ (5,100) | $ (19,133) |
Balance (in shares) at Oct. 29, 2022 | 101,726,000 | |||||||
Balance at Oct. 29, 2022 | $ 1,017 | 40,032 | 287,681 | (9,532) | ||||
Stock options exercised (in shares) | 1,000 | |||||||
Stock options exercised | $ 0 | 7 | ||||||
Stock-based compensation | 165 | |||||||
Net income | 34,361 | 34,361 | ||||||
Common stock cash dividend | 0 | |||||||
Cash flow hedges, net of tax | 9,856 | 9,856 | ||||||
Balance (in shares) at Jan. 28, 2023 | 150,000 | 101,727,000 | 150,000 | 8,374,000 | ||||
Balance at Jan. 28, 2023 | $ 339,504 | $ 150 | $ 1,017 | $ 40,204 | $ 322,042 | $ 324 | $ (5,100) | $ (19,133) |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Jan. 28, 2023 | Jan. 29, 2022 | |
Operating Activities: | ||
Net income | $ 105,861 | $ 124,168 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 15,552 | 13,711 |
Deferred income tax provision (benefit) | 3,266 | (283) |
Loss on sale of property, net | 20 | 11 |
Stock-based compensation | 507 | 524 |
Amortization of operating right of use assets | 9,946 | 10,117 |
Changes in assets and liabilities: | ||
Trade receivables | (3,512) | 4,270 |
Inventories | 9,727 | (17,199) |
Operating lease right of use assets | (19,539) | (5,827) |
Prepaid and other assets | 1,832 | (4,730) |
Accounts payable | (26,311) | (20,236) |
Accrued and other liabilities | 5,271 | (7,724) |
Operating lease liabilities | 9,633 | (4,250) |
Net cash provided by operating activities | 112,253 | 92,552 |
Investing Activities: | ||
Additions to property, plant and equipment | (12,282) | (16,059) |
Proceeds from sale of property, plant and equipment | 11 | 1 |
Net cash used in investing activities | (12,271) | (16,058) |
Financing Activities: | ||
(Repayments) borrowings under Loan Facility | (30,000) | 50,000 |
Proceeds from stock options exercised | 292 | 292 |
Dividend paid | 0 | (280,003) |
Net cash used in financing activities | (29,708) | (229,711) |
Net Increase (Decrease) in Cash and Equivalents | 70,274 | (153,217) |
Cash and Equivalents - Beginning of Period | 48,050 | 193,589 |
Cash and Equivalents - End of Period | 118,324 | 40,372 |
Other Cash Flow Information: | ||
Interest paid | 291 | 189 |
Income taxes paid | $ 27,411 | $ 42,401 |
Note 1 - Significant Accounting
Note 1 - Significant Accounting Policies | 9 Months Ended |
Jan. 28, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. Basis of Presentation The condensed consolidated financial statements include the accounts of National Beverage Corp. and its subsidiaries. Significant intercompany transactions and accounts have been eliminated. The accompanying interim unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) and rules and regulations of the Securities and Exchange Commission for interim financial reporting. Accordingly, they do not 10 April 30, 2022. The preparation of financial statements requires management to make estimates and assumptions that affect the amounts reported in the interim unaudited condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. In our opinion, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Results for the interim periods presented are not Inventories Inventories are stated at the lower of first first January 28, 2023 April 30, 2022 Marketing Costs The Company utilizes a variety of marketing programs, including cooperative advertising programs with customers, to advertise and promote its products to consumers. Marketing costs are expensed when incurred, except for prepaid advertising and production costs, which are expensed when the advertising takes place. Marketing costs, which are included in selling, general and administrative expenses, were $10.4 million for the three January 28, 2023 three January 29, 2022. nine January 28, 2023, nine January 29, 2022. Shipping and Handling Costs Shipping and handling costs are reported in selling, general and administrative expenses in the accompanying condensed consolidated statements of income. Such costs were $20.2 million for the three January 28, 2023 three January 29, 2022. nine January 28, 2023 nine January 29, 2022. may not |
Note 2 - Property, Plant and Eq
Note 2 - Property, Plant and Equipment | 9 Months Ended |
Jan. 28, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 2. Property, plant and equipment consist of the following: (In thousands) January 28, April 30, 2023 2022 Land $ 9,835 $ 9,835 Buildings and improvements 70,076 65,697 Machinery and equipment 283,352 277,163 Total 363,263 352,695 Less accumulated depreciation (220,295 ) (208,437 ) Property, plant and equipment – net $ 142,968 $ 144,258 Depreciation expense was $4.5 million and $13.5 million for the three nine January 28, 2023, three nine January 29, 2022, |
Note 3 - Debt
Note 3 - Debt | 9 Months Ended |
Jan. 28, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 3. At January 28, 2023, October 28, 2024 May 30, 2025 January 28, 2023 April 30, 2022. January 28, 2023, On December 21, 2021, December 31, 2023 .95% April 30, 2022. January 28, 2023. The Credit Facilities and Loan Facility require the subsidiary to maintain certain financial ratios, including debt to net worth and debt to EBITDA (as defined in the loan agreements), and contain other restrictions, none January 28, 2023, |
Note 4 - Stock-based Compensati
Note 4 - Stock-based Compensation | 9 Months Ended |
Jan. 28, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 4. During the nine January 28, 2023, January 28, 2023, |
Note 5 - Derivative Financial I
Note 5 - Derivative Financial Instruments | 9 Months Ended |
Jan. 28, 2023 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 5. From time to time, we enter into aluminum swap contracts to partially mitigate our exposure to changes in the cost of aluminum cans. Such financial instruments are designated and accounted for as a cash flow hedges. Accordingly, gains or losses attributable to the effective portion of the cash flow hedge are reported in accumulated other comprehensive income (loss) (“AOCI”) and reclassified into cost of sales in the period in which the hedged transaction affects earnings. The ineffective portion of the change in fair value of our cash flow hedge was immaterial. The following summarizes the gains (losses) recognized in the Condensed Consolidated Statements of Income and AOCI: (In thousands) Three Months Ended Nine Months Ended 2023 2022 2023 2022 Recognized in AOCI: Gain (loss) before income taxes $ 10,918 $ 11,007 $ (14,419 ) $ 11,980 Less income tax provision 2,612 2,633 (3,449 ) 2,866 Net $ 8,306 $ 8,374 $ (10,970 ) $ 9,114 Reclassified from AOCI to cost of sales: (Loss) gain before income taxes $ (2,036 ) $ 512 $ (5,750 ) $ 5,052 Less income tax (benefit) provision (486 ) 122 (1,374 ) ,1,209 Net $ (1,550 ) $ 390 $ (4,376 ) $ 3,843 Net change to AOCI $ 9,856 $ 7,984 $ (6,594 ) $ 5,271 As of January 28, 2023, no 12 As of January 28, 2023, April 30, 2022, not 2 |
Note 6 - Leases
Note 6 - Leases | 9 Months Ended |
Jan. 28, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 6. The Company has entered into various non-cancelable operating lease agreements for certain offices, buildings, machinery and equipment which expire at various dates through January 2030. not not three January 28, 2023 January 29, 2022 nine January 28, 2023 nine January 29, 2022. January 28, 2023, April 30, 2022, three January 28, 2023 January 29, 2022. nine January 28, 2023 nine January 29, 2022. The following is a summary of future minimum lease payments and related liabilities for all non-cancelable operating leases as of January 28, 2023: (In thousands) Fiscal 2023 (remainder) $ 3,284 Fiscal 2024 12,054 Fiscal 2025 9,118 Fiscal 2026 7,290 Fiscal 2027 6,347 Thereafter 5,631 Total minimum lease payments including interest 43,724 Less: Amounts representing interest (2,845 ) Present value of minimum lease payments 40,879 Less: Current portion of lease liabilities (11,892 ) Non-current portion of lease liabilities $ 28,987 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Jan. 28, 2023 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The condensed consolidated financial statements include the accounts of National Beverage Corp. and its subsidiaries. Significant intercompany transactions and accounts have been eliminated. The accompanying interim unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) and rules and regulations of the Securities and Exchange Commission for interim financial reporting. Accordingly, they do not 10 April 30, 2022. The preparation of financial statements requires management to make estimates and assumptions that affect the amounts reported in the interim unaudited condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. In our opinion, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Results for the interim periods presented are not |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of first first January 28, 2023 April 30, 2022 |
Advertising Cost [Policy Text Block] | Marketing Costs The Company utilizes a variety of marketing programs, including cooperative advertising programs with customers, to advertise and promote its products to consumers. Marketing costs are expensed when incurred, except for prepaid advertising and production costs, which are expensed when the advertising takes place. Marketing costs, which are included in selling, general and administrative expenses, were $10.4 million for the three January 28, 2023 three January 29, 2022. nine January 28, 2023, nine January 29, 2022. |
Contract With Customer Liability, Shipping and Handling Cost [Policy Text Block] | Shipping and Handling Costs Shipping and handling costs are reported in selling, general and administrative expenses in the accompanying condensed consolidated statements of income. Such costs were $20.2 million for the three January 28, 2023 three January 29, 2022. nine January 28, 2023 nine January 29, 2022. may not |
Note 2 - Property, Plant and _2
Note 2 - Property, Plant and Equipment (Tables) | 9 Months Ended |
Jan. 28, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | (In thousands) January 28, April 30, 2023 2022 Land $ 9,835 $ 9,835 Buildings and improvements 70,076 65,697 Machinery and equipment 283,352 277,163 Total 363,263 352,695 Less accumulated depreciation (220,295 ) (208,437 ) Property, plant and equipment – net $ 142,968 $ 144,258 |
Note 5 - Derivative Financial_2
Note 5 - Derivative Financial Instruments (Tables) | 9 Months Ended |
Jan. 28, 2023 | |
Notes Tables | |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block] | (In thousands) Three Months Ended Nine Months Ended 2023 2022 2023 2022 Recognized in AOCI: Gain (loss) before income taxes $ 10,918 $ 11,007 $ (14,419 ) $ 11,980 Less income tax provision 2,612 2,633 (3,449 ) 2,866 Net $ 8,306 $ 8,374 $ (10,970 ) $ 9,114 Reclassified from AOCI to cost of sales: (Loss) gain before income taxes $ (2,036 ) $ 512 $ (5,750 ) $ 5,052 Less income tax (benefit) provision (486 ) 122 (1,374 ) ,1,209 Net $ (1,550 ) $ 390 $ (4,376 ) $ 3,843 Net change to AOCI $ 9,856 $ 7,984 $ (6,594 ) $ 5,271 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 9 Months Ended |
Jan. 28, 2023 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (In thousands) Fiscal 2023 (remainder) $ 3,284 Fiscal 2024 12,054 Fiscal 2025 9,118 Fiscal 2026 7,290 Fiscal 2027 6,347 Thereafter 5,631 Total minimum lease payments including interest 43,724 Less: Amounts representing interest (2,845 ) Present value of minimum lease payments 40,879 Less: Current portion of lease liabilities (11,892 ) Non-current portion of lease liabilities $ 28,987 |
Note 1 - Significant Accounti_2
Note 1 - Significant Accounting Policies (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Jan. 28, 2023 | Jan. 29, 2022 | Jan. 28, 2023 | Jan. 29, 2022 | Apr. 30, 2022 | |
Inventory, Finished Goods, Gross | $ 50.9 | $ 50.9 | $ 58.6 | ||
Inventory, Raw Materials, Gross | 42.7 | 42.7 | $ 44.7 | ||
Marketing Expense | 10.4 | $ 12.9 | 31 | $ 36 | |
Shipping and Handling Costs | $ 20.2 | $ 21.1 | $ 65.8 | $ 65.5 |
Note 2 - Property, Plant and _3
Note 2 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jan. 28, 2023 | Jan. 29, 2022 | Jan. 28, 2023 | Jan. 29, 2022 | |
Depreciation, Total | $ 4.5 | $ 3.8 | $ 13.5 | $ 11.6 |
Note 2 - Property, Plant and _4
Note 2 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Jan. 28, 2023 | Apr. 30, 2022 |
Land | $ 9,835 | $ 9,835 |
Buildings and improvements | 70,076 | 65,697 |
Machinery and equipment | 283,352 | 277,163 |
Total | 363,263 | 352,695 |
Less accumulated depreciation | (220,295) | (208,437) |
Property, plant and equipment – net | $ 142,968 | $ 144,258 |
Note 3 - Debt (Details Textual)
Note 3 - Debt (Details Textual) - USD ($) $ in Thousands | 4 Months Ended | 9 Months Ended | |
Dec. 21, 2021 | Apr. 30, 2022 | Jan. 28, 2023 | |
Term Loan Facility [Member] | |||
Debt Instrument, Face Amount | $ 50,000 | ||
Proceeds from Issuance of Long-Term Debt, Total | $ 50,000 | ||
Long-Term Debt, Gross | $ 30,000 | ||
Long-Term Debt, Total | $ 0 | ||
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Term Loan Facility [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 0.95% | ||
Revolving Credit Facility [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 100,000 | ||
Long-term Line of Credit, Total | 0 | ||
Letters of Credit Outstanding, Amount | 2,200 | ||
Line of Credit Facility, Remaining Borrowing Capacity | $ 97,800 | ||
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.50% |
Note 4 - Stock-based Compensa_2
Note 4 - Stock-based Compensation (Details Textual) | 9 Months Ended |
Jan. 28, 2023 $ / shares shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 14,700 |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 19.83 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 521,900 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ / shares | $ 18.94 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 5,387,005 |
Note 5 - Derivative Financial_3
Note 5 - Derivative Financial Instruments (Details Textual) - USD ($) | Jan. 28, 2023 | Apr. 30, 2022 |
Derivative, Notional Amount | $ 61,000,000 | |
Price Risk Cash Flow Hedge Unrealized Gain (Loss) to be Reclassified During Next 12 Months | 395,000 | |
Prepaid Expenses and Other Current Assets [Member] | ||
Derivative Asset, Current | 1,200,000 | $ 8,800,000 |
Accrued Liabilities [Member] | ||
Derivative Liability, Current | $ 1,600,000 |
Note 5 - Derivative Financial_4
Note 5 - Derivative Financial Instruments - Derivatives Instruments, Statements of Financial Performance and Financial Position (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jan. 28, 2023 | Jan. 29, 2022 | Jan. 28, 2023 | Jan. 29, 2022 | |
Gain (loss) before income taxes | $ 10,918 | $ 11,007 | $ (14,419) | $ 11,980 |
Less income tax provision | 2,612 | 2,633 | (3,449) | 2,866 |
Net | 8,306 | 8,374 | (10,970) | 9,114 |
(Loss) gain before income taxes | (2,036) | 512 | (5,750) | 5,052 |
Less income tax (benefit) provision | (486) | 122 | (1,374) | 1,209 |
Net | (1,550) | 390 | (4,376) | 3,843 |
Net change to AOCI | $ 9,856 | $ 7,984 | $ (6,594) | $ 5,271 |
Note 6 - Leases (Details Textua
Note 6 - Leases (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Jan. 28, 2023 | Jan. 29, 2022 | Jan. 28, 2023 | Jan. 29, 2022 | Jan. 29, 2023 | Apr. 30, 2022 | |
Operating Lease, Cost | $ 3.6 | $ 3.5 | $ 10.7 | $ 11.1 | ||
Operating Lease, Weighted Average Remaining Lease Term (Year) | 4 years 4 months 24 days | 4 years | ||||
Operating Lease, Weighted Average Discount Rate, Percent | 3.03% | 3.08% | ||||
Operating Lease, Payments | $ 3.7 | $ 10.8 | $ 11.3 |
Note 6 - Leases - Future Minimu
Note 6 - Leases - Future Minimum Lease Payments and Related Liabilities for Non-cancelable Operating Leases (Details) - USD ($) $ in Thousands | Jan. 28, 2023 | Apr. 30, 2022 |
Fiscal 2023 (remainder) | $ 3,284 | |
Fiscal 2024 | 12,054 | |
Fiscal 2025 | 9,118 | |
Fiscal 2026 | 7,290 | |
Fiscal 2027 | 6,347 | |
Thereafter | 5,631 | |
Total minimum lease payments including interest | 43,724 | |
Less: Amounts representing interest | (2,845) | |
Present value of minimum lease payments | 40,879 | |
Less: Current portion of lease liabilities | (11,892) | $ (10,543) |
Non-current portion of lease liabilities | $ 28,987 | $ 20,703 |