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Significant Accounting Policies (Tables)
 12 Months Ended
Apr. 30, 2017
Accounting Policies [Abstract]  
Summary of Estimated Useful Lives

A summary of the estimated useful lives is as follows:

 

Description

 

Useful Life

 

Building and improvements

 

 

10 to 40 years

 

Software and hardware

 

 

2 to 7 years

 

Machinery and equipment

 

 

2 to 10 years

 

 
Reconciliation of Net Income (Loss) Amounts and Weighted Average Number of Common and Common Equivalent Shares Used to Determine Basic and Diluted Earnings (Loss) per Common Share

The following table provides a reconciliation of the net income/(loss) amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings/(loss) per common share (in thousands, except per share data):

 

 

 

For the Year Ended April 30,

 

 

 

2017

 

 

2016

 

 

2015

 

Net income

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

127,854

 

 

$

93,958

 

 

$

49,827

 

Loss from discontinued operations

 

 

—

 

 

 

—

 

 

 

(214

)

Net income

 

$

127,854

 

 

$

93,958

 

 

$

49,613

 

Weighted average shares outstanding — Basic

 

 

55,930

 

 

 

54,765

 

 

 

53,988

 

Dilutive effect of stock option and award plans

 

 

961

 

 

 

1,200

 

 

 

1,240

 

Diluted shares outstanding

 

 

56,891

 

 

 

55,965

 

 

 

55,228

 

Earnings per share — Basic

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

2.29

 

 

$

1.72

 

 

$

0.92

 

Loss from discontinued operations

 

$

—

 

 

$

—

 

 

$

—

 

Net income

 

$

2.29

 

 

$

1.72

 

 

$

0.92

 

Earnings per share — Diluted

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

2.25

 

 

$

1.68

 

 

$

0.90

 

Loss from discontinued operations

 

$

—

 

 

$

—

 

 

$

—

 

Net income

 

$

2.25

 

 

$

1.68

 

 

$

0.90

 

 
Change in Accrued Warranties Recorded as Non-Current Liability

The following table sets forth the change in accrued warranties, a portion of which is recorded as a non-current liability, in the fiscal years ended April 30, 2017, 2016, and 2015 (in thousands):

 

 

 

 

 

Balance as of April 30, 2014

$

 

7,565

 

     Warranties issued and adjustments to provisions

 

 

4,292

 

     Warranty claims

 

 

(3,204

)

Balance as of April 30, 2015

 

 

8,653

 

     Warranties issued and adjustments to provisions

 

 

2,546

 

     Warranty claims

 

 

(2,796

)

Balance as of April 30, 2016

 

 

8,403

 

     Warranties issued and adjustments to provisions

 

 

3,769

 

     Changes related to preexisting product recall accruals

 

 

(2,437

)

     Warranties assumed in acquisition

 

 

228

 

     Warranty claims

 

 

(4,419

)

Balance as of April 30, 2017

$

 

5,544