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Income Taxes (Tables) | 12 Months Ended
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Apr. 29, 2023
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | The following tables reflect the significant components of our income tax provision. The pretax income attributable to domestic and foreign operations was as follows:
| Year Ended
| April 29, 2023 |  | April 30, 2022 |  | May 1, 2021
Domestic | $ | 10,125 |  |  | $ | (2,696) |  |  | $ | 10,413 |
Foreign | 3,132 |  |  | 3,804 |  |  | 3,647 |
Income before income taxes | $ | 13,257 |  |  | $ | 1,108 |  |  | $ | 14,060 |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense (benefit) consisted of the following:
| Year Ended
| April 29, 2023 |  | April 30, 2022 |  | May 1, 2021
Current: |  |  |  |  |
Federal | $ | 6,321 |  |  | $ | 644 |  |  | $ | 507 |
State | 1,381 |  |  | 452 |  |  | 422 |
Foreign | 2,273 |  |  | 975 |  |  | 891 |
Deferred: |  |  |  |  |
Federal | (3,025) |  |  | (1,020) |  |  | 1,216 |
State | (456) |  |  | (476) |  |  | 59 |
Foreign | (39) |  |  | (59) |  |  | 39 |
| $ | 6,455 |  |  | $ | 516 |  |  | $ | 3,134 |
Schedule of Effective Income Tax Rate Reconciliation | The reconciliation of the provision (benefit) for income taxes and the amount computed by applying the federal statutory rate to income before income taxes is as follows:
| Year Ended
| April 29, 2023 |  | April 30, 2022 |  | May 1, 2021
Computed income tax expense at federal statutory rates | $ | 2,784 |  |  | $ | 233 |  |  | $ | 2,953 |
Change in uncertain tax positions | (86) |  |  | (71) |  |  | (34) |
Research and development tax credit | (684) |  |  | (382) |  |  | (1,047) |
Other, net | 288 |  |  | (179) |  |  | 579 |
Change in valuation allowances | 2,078 |  |  | 609 |  |  | 402 |
GILTI | 6 |  |  | (14) |  |  | (156) |
Base Erosion Anti-Abuse Tax (BEAT) | 87 |  |  | 12 |  |  | (285) |
Foreign-Derived Intangible Income (FDII) | (128) |  |  | (5) |  |  | (84) |
Stock compensation | 262 |  |  | 150 |  |  | 355 |
Meals and entertainment | 149 |  |  | 67 |  |  | 49 |
Goodwill Impairment | 551 |  |  | — |  |  | — |
State taxes, net of federal benefit | 731 |  |  | 139 |  |  | 494 |
Effect of Foreign Tax Rates different than Statutory | 417 |  |  | (43) |  |  | (92) |
| $ | 6,455 |  |  | $ | 516 |  |  | $ | 3,134 |
Schedule of Deferred Tax Assets and Liabilities | The components of the net deferred tax assets were as follows:
| April 29, 2023 |  | April 30, 2022
Deferred tax assets: |  |  |
Accrued warranty obligations | $ | 8,088 |  |  | $ | 7,117 |
Vacation accrual | 1,732 |  |  | 1,618 |
Deferred maintenance revenue | 484 |  |  | 272 |
Allowance for excess and obsolete inventory | 2,779 |  |  | 2,316 |
Equity compensation | 255 |  |  | 276 |
Allowance for credit losses accounts | 928 |  |  | 528 |
Inventory capitalization | 1,339 |  |  | 1,278 |
Accrued compensation and benefits | 395 |  |  | 1,019 |
Unrealized loss on foreign currency exchange | 206 |  |  | — |
Net operating loss carry forwards | 1,024 |  |  | 729 |
Outside basis difference in equity method investments | 3,819 |  |  | 1,861 |
Section 174 Capitalization | 5,225 |  |  | — |
Research and development tax credit carry forwards | 210 |  |  | 396 |
Lease accounting - lease liability | 1,426 |  |  | 1,918 |
Other | 929 |  |  | 435 |
Total deferred tax assets | 28,839 |  |  | 19,763 |
Valuation allowance | (4,900) |  |  | (2,452) |
Net deferred tax assets | 23,939 |  |  | 17,311 |
Deferred tax liabilities: |  |  |
Property and equipment | (5,292) |  |  | (1,693) |
Lease accounting - right of use asset | (1,411) |  |  | (1,907) |
Prepaid expenses | (471) |  |  | (428) |
Unrealized gain on foreign currency exchange | — |  |  | (180) |
Other | (93) |  |  | (59) |
Total deferred tax liabilities | (7,267) |  |  | (4,267) |
Net deferred tax asset | $ | 16,672 |  |  | $ | 13,044 |
The classification of the net deferred tax assets in the accompanying consolidated balance sheets is:
| April 29, 2023 |  | April 30, 2022
Non-current assets | $ | 16,867 |  |  | $ | 13,331 |
Non-current liabilities | (195) |  |  | (287) |
| $ | 16,672 |  |  | $ | 13,044 |
Schedule of Unrecognized Tax Benefits Roll Forward | The summary of changes in the amounts related to unrecognized uncertain tax benefits are:
| April 29, 2023 |  | April 30, 2022
Balance at beginning of year | $ | 477 |  |  | $ | 548 |
Gross increases related to prior period tax positions | 12 |  |  | 17 |
Gross decreases related to prior period tax positions | (56) |  |  | (54) |
Gross increases related to current period tax positions | 124 |  |  | 116 |
Lapse of statute of limitations | (165) |  |  | (150) |
Balance at end of year | $ | 392 |  |  | $ | 477 |

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