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Income Taxes | 9 Months Ended
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Jan. 31, 2026
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes Income tax expense of $528,000 and $2,204,000 was recorded for the three and nine months ended January 31, 2026, respectively. Income tax benefit of $108,000 and interest tax expense of $1,000,000 was recorded for the three and nine months ended January 31, 2025, respectively. The effective tax rate was 32.9% and 24.6% for the three and nine months ended January 31, 2026, respectively. The effective tax rate was (8.5)% and 13.1% for the three and nine months ended January 31, 2025, respectively. The effective tax rate for the current three month period reflects the impact of foreign operations which are taxed at different rates than the U.S. tax rate of 21%, combined with expected current year tax expense for the Company's domestic operations. In addition, the income tax expense recorded for the nine months ended January 31, 2026 was favorably impacted by a discrete tax benefit of $303,000 resulting from the issuance of stock through the vesting of restricted stock units during the first quarter. In August 2019, the Company revoked its indefinite reinvestment of foreign unremitted earnings position in compliance with ASC 740 "Income Taxes" and terminated its indefinite reinvestment of unremitted earnings assertion for the Singapore and Kewaunee Labway India Pvt. Ltd. international subsidiaries. The Company has a deferred tax liability of $1,291,000 and $1,507,000 for the withholding tax related to Kewaunee Labway India Pvt. Ltd. as of January 31, 2026 and April 30, 2025, respectively. On July 4, 2025, the U.S. government enacted Public Law No. 119-21, commonly known as the One Big Beautiful Bill Act ("OBBBA"), which includes a broad range of tax reform provisions affecting businesses, including modifications and extensions of certain Tax Cuts and Jobs Act provisions, domestic research and development cost expensing, extension of 100% bonus depreciation, limitations on interest expense deductions, and adjustments to certain Inflation Reduction Act incentives. Since the OBBBA was enacted on July 4, 2025, the Company has evaluated its provisions and reflected the impact of the bonus amortization acceleration under Section 174 of the Internal Revenue Code in its income tax provision for the nine months ended January 31, 2026. The enactment impacts the Company's effective tax rate and deferred tax balances for the period. The Company continues to evaluate other provisions of the legislation; however, no additional material impacts have been identified as of January 31, 2026.

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