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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jul. 31, 2024
Apr. 30, 2024
Current assets:    
Cash and cash equivalents $ 16,201 $ 18,320
Accounts receivable, net of allowances of $110 at July 31, 2024 and April 30, 2024 5,922 4,614
Contract assets 10,817 10,523
Inventories 24,308 23,431
Prepaid income taxes 0 37
Prepaid expenses and other 1,977 1,196
Total current assets 59,225 58,121
Property, plant, and equipment, net 6,304 6,438
Goodwill 617 617
Cash surrender value of life insurance 10,379 10,221
Right-of-use assets – operating leases 5,646 6,036
Restricted cash 1,217 945
Other assets 876 875
Total assets 84,264 83,253
Current liabilities:    
Accounts payable – trade 1,553 2,348
Accrued liabilities 4,938 4,765
Loss provision accrual 234 404
Dividend payable 9,567 0
Income taxes payable 79 0
Operating lease liability – current portion 1,468 1,640
Contract liabilities 20,854 21,639
Total current liabilities 38,693 30,796
Deferred compensation 8,050 8,088
Deferred taxes 18 8
Operating lease liability – non-current portion 4,301 4,545
Total liabilities 51,062 43,437
Stockholders’ equity:    
Preferred stock - $1.00 par value; authorized 600 shares, no shares issued 0 0
Common stock - $1.00 par value; authorized 20,000 shares, 9,568 shares issued and 9,562 shares outstanding at July 31, 2024; 9,512 shares issued and 9,511 shares outstanding at April 30, 2024 9,568 9,512
Additional paid-in capital 41,296 50,334
Accumulated deficit (17,597) (20,027)
Common stock reacquired and held in treasury - at cost (5 shares at July 31, 2024 and 1 share at April 30, 2024) (65) (3)
Total stockholders’ equity 33,202 39,816
Total liabilities and stockholders’ equity $ 84,264 $ 83,253