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Derivative Financial Instruments
 6 Months Ended
Oct. 29, 2011
Derivative Financial Instruments [Abstract]  
Derivative Financial Instruments
Note 13.  Derivative Financial Instruments

We utilize derivative financial instruments to manage the economic impact of fluctuations in currency exchange rates on those transactions that are denominated in currencies other than our functional currency, which is the U.S. dollar.  We enter into currency forward contracts to manage these economic risks.  We account for all derivatives on the balance sheet as an asset or liability measured at fair value, and changes in fair values are recognized in earnings unless specific hedge accounting criteria are met for cash flow or net investment hedges. If such hedge accounting criteria are met, the change is deferred in shareholder's equity as a component of accumulated other comprehensive income. The deferred items are recognized in the statement of operations in the period the derivative contract is settled.  As of October 29, 2011 and April 30, 2011, we had not designated any of our derivative instruments as hedges, and, therefore  recorded the changes in fair value in the other income/expense.

The foreign currency exchange contracts in aggregated notional amounts in place to exchange United States Dollars at October 29, 2011 and April 30, 2011 were as follows:
 
   
October 29,
  
April 30,
 
   
2011
  
2011
 
   
U.S. Dollars
  
Foreign
Currency
  
U.S.
Dollars
  
Foreign
Currency
 
Foreign Currency Exchange Forward Contracts:
            
U.S. Dollars/Australian Dollars
  -   -   1,302   1,320 
U.S. Dollars/Polish Zloty
  329   1,025   803   2,390 
U.S. Dollars/Singapore Dollar
  731   927   -   - 


As of October 29, 2011, the fair value of foreign currency exchange forward contracts, using Level 2 inputs from a third party bank, represented other assets of $41 and, as of April 30, 2011 represented liabilities of approximately $258.  Changes in the fair value of the foreign currency exchange contracts are reflected in other income.