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Income Taxes (Tables) | 12 Months Ended
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Apr. 30, 2023
Income Tax Disclosure [Abstract] |
Income Tax Expense | Income tax expense consisted of the following:
$ in thousands |  | 2023 |  | 2022
Current tax expense: |  |  |  |
Federal |  | $ | 691 |  |  | $ | 1,899 |
State and local |  | 197 |  |  | 490 |
Foreign |  | 1,736 |  |  | 1,008 |
Total current tax expense |  | 2,624 |  |  | 3,397 |
Deferred tax expense: |  |  |  |
Federal |  | — |  |  | — |
State and local |  | — |  |  | — |
Foreign |  | 515 |  |  | 121 |
Total deferred tax expense |  | 515 |  |  | 121 |
Net income tax expense |  | $ | 3,139 |  |  | $ | 3,518 |
Schedule of Income Tax Reconciliation | The reasons for the differences between the above net income tax expense and the amounts computed by applying the statutory federal income tax rate to earnings before income taxes are as follows:
$ in thousands |  | 2023 |  | 2022
Income tax expense (benefit) at statutory rate |  | $ | 945 |  |  | $ | (432) |
State and local taxes, net of federal income tax benefit |  | (119) |  |  | (29) |
Tax credits (state, net of federal benefit) |  | (433) |  |  | (457) |
Effects of differing US and foreign tax rates |  | 260 |  |  | 22 |
Net operating loss adjustment |  | — |  |  | (286) |
Return to provision adjustment |  | 413 |  |  | — |
Impact of foreign subsidiary income to parent |  | 99 |  |  | 74 |
Increase in valuation allowance |  | 1,667 |  |  | 4,170 |
Other items, net |  | 307 |  |  | 456 |
Net income tax expense |  | $ | 3,139 |  |  | $ | 3,518 |
Summary of Deferred Tax Assets and Liabilities | Significant items comprising deferred tax assets and liabilities as of April 30 were as follows:
$ in thousands |  | 2023 |  | 2022
Deferred tax assets: |  |  |  |
Accrued employee benefit expenses |  | $ | 153 |  |  | $ | 228 |
Allowance for doubtful accounts |  | 114 |  |  | 142 |
Deferred compensation |  | 1,156 |  |  | 1,196 |
Tax credits (state, net of federal benefits) |  | 170 |  |  | 170 |
Foreign tax credit carryforwards |  | 638 |  |  | 638 |
Section 174 R&E Addback |  | 1,558 |  |  | — |
Unrecognized actuarial loss, defined benefit plans |  | 1,064 |  |  | 1,202 |
Inventory reserves and capitalized costs |  | 201 |  |  | 110 |
Net operating loss carryforwards |  | 249 |  |  | 112 |
Proceeds on Sale Leaseback |  | 6,963 |  |  | 7,215 |
Operating lease liabilities |  | 1,558 |  |  | — |
Other |  | 254 |  |  | 449 |
Total deferred tax assets |  | 14,078 |  |  | 11,462 |
Deferred tax liabilities: |  |  |  |
Book basis in excess of tax basis of property, plant and equipment |  | (1,417) |  |  | (1,758) |
Book basis in excess of tax basis of Sale Leaseback property |  | (1,106) |  |  | (1,122) |
Prepaid pension |  | (919) |  |  | (949) |
APB 23 Assertion |  | (1,318) |  |  | (976) |
Right of use assets |  | (1,526) |  |  | — |
Debt Issuance Cost on Sale Leaseback |  | (167) |  |  | (184) |
Total deferred tax liabilities |  | (6,453) |  |  | (4,989) |
Valuation allowance |  | (8,568) |  |  | (6,901) |
Net deferred tax liabilities |  | $ | (943) |  |  | $ | (428) |
Deferred tax assets (liabilities) classified in the balance sheet: |  |  |  |
Non-current |  | (943) |  |  | (428) |
Net deferred tax liabilities |  | $ | (943) |  |  | $ | (428) |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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