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Income Taxes (Tables)

12 Months Ended

Apr. 30, 2025

Income Tax Disclosure [Abstract]

Income Tax Expense

Income tax (benefit) expense consisted of the following:

$ in thousands						2025						2024
Current tax (benefit) expense:
Federal						$	3,043					$	2,332
State and local						610						65
Foreign						1,752						2,661
Total current tax expense						5,405						5,058
Deferred tax (benefit) expense:
Federal						(1,433)						(10,378)
State and local						(650)						(893)
Foreign						(120)						275
Total deferred tax (benefit) expense						(2,203)						(10,996)
Net income tax (benefit) expense						$	3,202					$	(5,938)

Schedule of Income Tax Reconciliation

The reasons for the differences between the above net income tax (benefit) expense and the amounts computed by applying the statutory federal income tax rate to earnings before income taxes are as follows:

$ in thousands						2025						2024
Income tax expense at statutory rate						$	3,105					$	2,755
State and local taxes, net of federal income tax benefit						(168)						575
Tax credits						(515)						(355)
Effects of differing US and foreign tax rates						183						243
Non-deductible transaction costs						348						—
Effect of pension settlement						—						(3,870)
Return to provision adjustment						(72)						743
Impact of foreign subsidiary income to parent						6						96
Increase (decrease) in valuation allowance						7						(6,579)
Deferred taxes on unremitted earnings						416						371
Other items, net						(108)						83
Net income tax (benefit) expense						$	3,202					$	(5,938)

Summary of Deferred Tax Assets and Liabilities

Significant items comprising deferred tax assets and liabilities as of April 30 were as follows:

$ in thousands						2025						2024
Deferred tax assets:
Accrued employee benefit expenses						$	417					$	152
Allowance for credit losses						151						151
Deferred compensation						1,345						950
Tax credits (state, net of federal benefits)						170						170
Foreign tax credit carryforwards						638						638
Section 174 R&E						3,269						2,303
Warranty Accrual						193						—
Inventory reserves and capitalized costs						478						296
Net operating loss carryforwards						147						152
Proceeds on sale leaseback						6,550						6,316
Operating lease liabilities						2,372						1,211
Other						457						332
Total deferred tax assets						16,187						12,671
Deferred tax liabilities:
Book basis in excess of tax basis of property, plant and equipment						(3,024)						(1,678)
Book basis in excess of tax basis of sale leaseback property						(1,095)						(1,028)
Book basis in excess of tax basis of intangibles assets						(4,005)						—
APB 23 Assertion						(1,507)						(1,572)
Right of use assets						(2,589)						(1,142)
Debt Issuance Cost on sale leaseback						(138)						(142)
Total deferred tax liabilities						(12,358)						(5,562)
Valuation allowance						(933)						(926)
Net deferred tax liabilities						$	2,896					$	6,183
Deferred tax assets (liabilities) classified in the balance sheet:
Deferred tax assets, non-current						$	3,994					$	7,401
Deferred tax liabilities, non-current						(1,098)						(1,218)
Net deferred tax assets (liabilities)						$	2,896					$	6,183

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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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

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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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

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-Section 50
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