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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Oct. 31, 2024
Apr. 30, 2024
Current assets:    
Cash and cash equivalents $ 9,698 $ 18,320
Accounts receivable, net of allowances of $110 at October 31, 2024 and April 30, 2024 4,088 4,614
Contract assets 12,092 10,523
Inventories 25,480 23,431
Prepaid income taxes 12 37
Prepaid expenses and other 1,578 1,196
Total current assets 52,948 58,121
Property, plant, and equipment, net 6,274 6,438
Goodwill 617 617
Cash surrender value of life insurance 10,443 10,221
Right-of-use assets – operating leases 5,276 6,036
Restricted cash 1,342 945
Other assets 875 875
Total assets 77,775 83,253
Current liabilities:    
Accounts payable 1,330 2,348
Accrued liabilities 3,975 4,765
Loss provision accrual 244 404
Income taxes payable 0 0
Operating lease liability - current portion 1,301 1,640
Contract liabilities 22,659 21,639
Total current liabilities 29,509 30,796
Deferred compensation 8,011 8,088
Deferred taxes 19 8
Operating lease liability – non-current portion 4,044 4,545
Total liabilities 41,583 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, 9,621 shares issued and 9,604 shares outstanding at October 31, 2024; 9,512 shares issued and 9,511 shares outstanding at April 30, 2024 9,617 9,512
Additional paid-in capital 41,683 50,334
Accumulated deficit (14,943) (20,027)
Common stock reacquired and held in treasury - at cost (13 shares at October 31, 2024 and 1 share at April 30, 2024) (165) (3)
Total stockholders’ equity 36,192 39,816
Total liabilities and stockholders’ equity $ 77,775 $ 83,253