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Organization and Significant Accounting Policies (Tables)

3 Months Ended

Jul. 27, 2024

Organization and Significant Accounting Policies

Schedule of revenue by category

The following tables present the Company’s revenue disaggregated by segment, contract type, customer category and geographic location (in thousands):

​

​	​	​	​	​	​	​	​
​		Three Months Ended					​
​		July 27,		​	July 29,		​
Revenue by segment		2024			2023		​
UxS	​	$	119,976	​	$	98,207	​
LMS	​	​	51,973	​	​	30,917	​
MW	​	​	17,534	​	​	23,223	​
Total revenue	​	$	189,483	​	$	152,347	​

​

​	​	​	​	​	​	​	​
​	​	Three Months Ended					​
​		July 27,		​	July 29,		​
Revenue by contract type	​	2024			2023		​
FFP	​	$	171,869	​	$	129,942	​
CPFF	​	​	16,231	​	​	21,293	​
T&M			1,383	​		1,112	​
Total revenue	​	$	189,483	​	$	152,347	​

​

Each of these contract types presents advantages and disadvantages. Typically, the Company assumes more risk with FFP contracts. However, these types of contracts generally offer additional profits when the Company completes the work for less than originally estimated. CPFF contracts generally subject the Company to lower risk. Accordingly, the associated base fees are usually lower than fees on FFP contracts. Under T&M contracts, the Company’s profit may vary if actual labor hour rates vary significantly from the negotiated rates.

​

​	​	​	​	​	​	​	​
​	​	Three Months Ended					​
​		July 27,		​	July 29,		​
Revenue by customer category	​	2024			2023		​
U.S. government	​	$	148,600	​	$	101,348	​
Non-U.S. government	​	​	40,883	​	​	50,999	​
Total revenue	​	$	189,483	​	$	152,347	​
​	​	​	​	​	​	​	​
​	​	Three Months Ended					​
​	​	July 27,		​	July 29,		​
Revenue by geographic location	​	2024			2023		​
Domestic	​	$	66,998	​	$	58,126	​
International	​	​	122,485	​	​	94,221	​
Total revenue	​	$	189,483	​	$	152,347	​

Schedule of revenue percentage by recognition method

​

​	​	​	​	​	​	​	​
​	​	Three Months Ended					​
​	​	July 27,		​	July 29,		​
Revenue percentage by recognition method	​	2024			2023		​
Over time	​	​	41%	​	​	39%	​
Point in time	​	​	59%	​	​	61%	​
Total revenue	​	​	100%	​	​	100%	​

Schedule of reconciliation of basic to diluted shares

The reconciliation of basic to diluted shares is as follows (in thousands except share data):

​

​	​	​	​	​	​	​	​
​	​	​	Three Months Ended
​		July 27, 2024			July 29, 2023
Net income	​	$	21,166	​	$	21,895	​
Denominator for basic earnings per share:	​	​	​	​	​	​	​
Weighted average common shares		​	27,959,692		​	26,088,277	​
Dilutive effect of employee stock options, restricted stock and restricted stock units		​	322,135		​	90,765	​
Denominator for diluted earnings per share	​	​	28,281,827	​	​	26,179,042	​

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Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit).

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-Name Accounting Standards Codification
-Topic 260
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