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SEGMENT INFORMATION
 9 Months Ended
Feb. 01, 2014
Segment Reporting [Abstract]  
SEGMENT INFORMATION
SEGMENT INFORMATION
 
We are a global manufacturer of component and subsystem devices.  We design, manufacture and market devices employing electrical, electronic, wireless, sensing and optical technologies.  Our components are found in the primary end markets of the automotive, appliance, communications (including information processing and storage, networking equipment, wireless and terrestrial voice/data systems), aerospace, rail and other transportation industries; and the consumer and industrial equipment markets.
 
ASC No. 280, “Segment Reporting”, establishes annual and interim reporting standards for an enterprise’s operating segments and related disclosures about its products, services, geographic areas and major customers. An operating segment is defined as a component of an enterprise that engages in business activities from which it may earn revenues and incur expenses, and about which separate financial information is regularly evaluated by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources.  The CODM, as defined by ASC No. 280, is the Company’s President and Chief Executive Officer (“CEO”).

We have multiple operating segments that are aggregated in four reportable segments. Those segments are Automotive, Interconnect, Power Products and Other.
 
The Automotive segment supplies electronic and electromechanical devices and related products to automobile Original Equipment Manufacturers ("OEMs"), either directly or through their tiered suppliers. Our products include control switches for electrical power and signals, connectors for electrical devices, integrated control components, switches and sensors that monitor the operation or status of a component or system, and packaging of electrical components.
 
The Interconnect segment provides a variety of copper and fiber-optic interconnect and interface solutions for the aerospace, appliance, commercial, computer, construction, consumer, material handling, medical, military, mining, networking, storage, and telecommunications markets.  Solutions include conductive polymers, connectors, custom cable assemblies, industrial safety radio remote controls, optical and copper transceivers, personal computer and express card packaging and terminators, solid-state field effect interface panels, and thick film inks.  Services include the design and installation of fiber optic and copper infrastructure systems, and manufacturing active and passive optical components.
 
The Power Products segment manufactures braided flexible cables, current-carrying laminated bus devices, custom power-product assemblies, high-current low voltage flexible power cabling systems and powder coated bus bars that are used in various markets and applications, including aerospace, computers, industrial and power conversion, inverters and battery systems, insulated gate bipolar transistor solutions, military, telecommunications, and transportation.
 
The Other segment includes a designer and manufacturer of magnetic torque sensing products, and independent laboratories that provide services for qualification testing and certification and analysis of electronic and optical components.
 
The accounting policies of the segments are the same as those described in the summary of significant accounting policies in our Form 10-K for the fiscal year ended April 27, 2013.  We allocate resources to segments based on operating income. Transfers between segments are recorded using internal transfer prices set by us. 
The following tables present information regarding our segments. The Automotive segment income from operations for the nine months ended January 26, 2013 includes $20,000 of income from settlement.
 
 
Three Months Ended February 1, 2014
 
 
Automotive
 
Interconnect
 
Power
Products
 
Other
 
Eliminations/Corporate
 
Consolidated
Net sales
 
$
129,666

 
$
41,364

 
$
18,029

 
$
2,481

 
$
(1,787
)
 
$
189,753

Transfers between segments
 
(724
)
 
(777
)
 
(32
)
 
(81
)
 
1,614

 
—

Net sales to unaffiliated customers
 
$
128,942

 
$
40,587

 
$
17,997

 
$
2,400

 
$
(173
)
 
$
189,753

 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from operations
 
$
17,906

 
$
5,073

 
$
2,125

 
$
(659
)
 
$
(8,064
)
 
$
16,381

Interest expense, net
 
 
 
 
 
 
 
 
 
 
 
88

Other expense, net
 
 
 
 
 
 
 
 
 
 
 
270

Income before income taxes
 
 
 
 
 
 
 
 
 
 
 
$
16,023

 
 
 
Three Months Ended January 26, 2013
 
 
Automotive
 
Interconnect
 
Power
Products
 
Other
 
Eliminations/Corporate
 
Consolidated
Net sales
 
$
74,349

 
$
32,218

 
$
12,816

 
$
4,276

 
$
(677
)
 
$
122,982

Transfers between segments
 
(93
)
 
(591
)
 
(30
)
 
(33
)
 
747

 
—

Net sales to unaffiliated customers
 
$
74,256

 
$
31,627

 
$
12,786

 
$
4,243

 
$
70

 
$
122,982

 
 
 
 
 
 
 
 
 
 
 
 
 
Income/(loss) from operations
 
$
3,258

 
$
3,651

 
$
517

 
$
1,124

 
$
(4,293
)
 
$
4,257

Interest income, net
 
 
 
 
 
 
 
 
 
 
 
20

Other income, net
 
 
 
 
 
 
 
 
 
 
 
114

Income before income taxes
 
 
 
 
 
 
 
 
 
 
 
$
4,123


 
 
 
Nine Months Ended February 1, 2014
 
 
Automotive
 
Interconnect
 
Power
Products
 
Other
 
Eliminations/Corporate
 
Consolidated
Net sales
 
$
360,061

 
$
129,973

 
$
54,002

 
$
7,522

 
$
(3,625
)
 
$
547,933

Transfers between segments
 
(1,568
)
 
(2,048
)
 
(149
)
 
(152
)
 
3,917

 
—

Net sales to unaffiliated customers
 
$
358,493

 
$
127,925

 
$
53,853

 
$
7,370

 
$
292

 
$
547,933

 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from operations
 
$
48,325

 
$
19,397

 
$
7,931

 
$
(808
)
 
$
(21,603
)
 
$
53,242

Interest expense, net
 
 
 
 
 
 
 
 
 
 
 
265

Other expense, net
 
 
 
 
 
 
 
 
 
 
 
763

Income before income taxes
 
 
 
 
 
 
 
 
 
 
 
$
52,214


 
 
Nine Months Ended January 26, 2013
 
 
Automotive
 
Interconnect
 
Power
Products
 
Other
 
Eliminations/Corporate
 
Consolidated
Net sales
 
$
225,954

 
$
98,488

 
$
37,557

 
$
12,022

 
$
(2,543
)
 
$
371,478

Transfers between segments
 
(500
)
 
(1,895
)
 
(136
)
 
(72
)
 
2,603

 
—

Net sales to unaffiliated customers
 
$
225,454

 
$
96,593

 
$
37,421

 
$
11,950

 
$
60

 
$
371,478

 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from operations
 
$
32,406

 
$
12,655

 
$
568

 
$
2,672

 
$
(12,759
)
 
$
35,542

Interest expense, net
 
 
 
 
 
 
 
 
 
 
 
27

Other expense, net
 
 
 
 
 
 
 
 
 
 
 
609

Income before income taxes
 
 
 
 
 
 
 
 
 
 
 
$
34,906