XML 20 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Segment Reporting
 12 Months Ended
Apr. 28, 2012
Segment Reporting [Abstract]  
Segment Reporting
Segment Reporting

We have organized our business into five business units which meet the definition of reportable segments under ASC 280-10, Segment Reporting: the Commercial segment, the Live Events segment, the Schools and Theatres segment, the Transportation segment, and the International segment. These segments are based on the type of customer and geography.
 
Our Commercial segment primarily consists of sales of our video, Galaxy®, Fuelight™ and Valo™ product lines to resellers (primarily sign companies), outdoor advertisers, national retailers, quick-serve restaurants, casinos and petroleum retailers.  Our Live Events segment primarily consists of sales of integrated scoring and video display systems to college and professional sports facilities and convention centers and sales of our mobile display technology to video rental organizations and other live events type venues.  Our Schools and Theatres segment primarily consists of sales of scoring systems, Galaxy® displays and video display systems to primary and secondary education facilities and sales of our Vortek® automated rigging systems for theatre applications.  Our Transportation segment primarily consists of sales of our Vanguard® and Galaxy® product lines to governmental transportation departments, airlines and other transportation related customers.  Our International segment consists of sales of all product lines outside the United States and Canada.

Segment reports present results through contribution margin, which is comprised of gross profit less selling costs. Segment profit excludes general and administration expense, product development expense, interest income and expense, non-operating income and income tax expense.  Assets are not allocated to the segments.  Depreciation and amortization, excluding that portion related to non-allocated costs, are allocated to each segment based on various financial measures.  In general, segments follow the same accounting policies as those described in Note 1.  Absorbed costs of domestic field sales and services infrastructure, including most field administrative staff, are allocated to the Commercial, Live Events, and Schools and Theatres segments based on cost of sales.  Shared manufacturing, building and utilities and procurement costs are allocated based on payroll dollars, square footage and various other financial measures.

We do not maintain information on sales by products and, therefore, disclosure of such information is not practical.

The following table sets forth certain financial information for each of our five operating segments for the fiscal years ended April 28, 2012, April 30, 2011 and May 1, 2010:
 
Year Ended
 
April 28,
2012
 
April 30,
2011
 
May 1,
2010
Net sales:
 
 
 
 
 
Commercial
$
148,585

 
$
112,515

 
$
91,860

Live Events
160,933

 
161,572

 
159,229

Schools & Theatres
59,662

 
62,310

 
62,878

Transportation
48,284

 
45,215

 
40,481

International
72,062

 
60,064

 
38,737

 
489,526

 
441,676

 
393,185

Contribution margin:
 

 
 

 
 

Commercial
24,011

 
12,925

 
5,176

Live Events
13,579

 
18,889

 
18,320

Schools & Theatres
4,716

 
7,247

 
4,422

Transportation
11,009

 
12,149

 
9,490

International
7,889

 
10,719

 
2,895

 
61,204

 
61,929

 
40,303

 
 
 
 
 
 
Non-allocated operating expenses:
 

 
 

 
 

General and administrative
27,422

 
23,453

 
25,199

Product design and development
23,507

 
18,949

 
21,920

Gain on insurance proceeds
—

 
—

 
(1,496
)
Goodwill impairment
—

 
—

 
1,410

Operating income (loss)
10,275

 
19,527

 
(6,730
)
 
 
 
 
 
 
Nonoperating income (expense):
 

 
 

 
 

Interest income
1,747

 
1,921

 
1,514

Interest expense
(335
)
 
(184
)
 
(170
)
Other income (expense), net
(110
)
 
877

 
(2,756
)
 
 
 
 
 
 
Income (loss) before income taxes
11,577

 
22,141

 
(8,142
)
Income tax expense (benefit)
3,088

 
7,897

 
(1,153
)
Net income (loss)
$
8,489

 
$
14,244

 
$
(6,989
)
 
 
 
 
 
 
Depreciation and amortization:
 

 
 

 
 

Commercial
$
6,103

 
$
6,790

 
$
7,119

Live Events
5,055

 
6,224

 
7,477

Schools & Theatres
2,361

 
2,621

 
2,823

Transportation
1,386

 
1,524

 
1,745

International
650

 
692

 
1,010

Unallocated corporate depreciation
1,963

 
1,790

 
2,086

 
$
17,518

 
$
19,641

 
$
22,260


No single geographic area comprises a material amount of net sales or long-lived assets other than the United States.  The following table presents information about net sales and long-lived assets in the United States and elsewhere:
 
April 28,
2012
 
April 30,
2011
 
May 1,
2010
Net sales:
 
 
 
 
 
United States
$
405,479

 
$
368,979

 
$
347,787

Outside U.S.
84,047

 
72,697

 
45,398

 
$
489,526

 
$
441,676

 
$
393,185

Long-lived assets:
 
 
 
 
 
United States
$
66,350

 
$
68,034

 
$
78,465

Outside U.S.
2,046

 
1,832

 
2,420

 
$
68,396

 
$
69,866

 
$
80,885

We are not economically dependent on a limited number of customers for the sale of our products and services because we have numerous customers world-wide.  We are not economically dependent on a limited number of suppliers for our inventory items because we have numerous suppliers world-wide.