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Income Taxes (Tables)

12 Months Ended

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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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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