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INCOME TAXES (Tables) | 12 Months Ended
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Apr. 28, 2013
Schedule of Allocation of Income Tax Expense (Benefit) |
Total income tax expense (benefit) was allocated as follows:
(dollars in thousands) |  | 2013 |  |  | 2012 |  |  | 2011 |
income from operations |  | $ | 1,972 |  |  |  | 902 |  |  |  | (1,102 | )
shareholders’ equity, related to |  |  |  |  |  |  |  |  |  |  |  |
the tax benefit arising from the |  |  |  |  |  |  |  |  |  |  |  |
exercise of stock options |  |  | (76 | ) |  |  | (64 | ) |  |  | (339 | )
|  | $ | 1,896 |  |  |  | 838 |  |  |  | (1,441 | )
Schedule of Income Tax Expense (Benefit) Attributable to Income from Operations | Income tax expense (benefit) attributable to income from operations consists of:
(dollars in thousands) |  | 2013 |  |  | 2012 |  |  | 2011 |
current |  |  |  |  |  |  |  |  |
federal |  | $ | - |  |  |  | 79 |  |  |  | (79 | )
state |  |  | 19 |  |  |  | - |  |  |  | - |
foreign |  |  | 2,297 |  |  |  | 2,505 |  |  |  | 2,367 |
|  |  | 2,316 |  |  |  | 2,584 |  |  |  | 2,288 |
deferred |  |  |  |  |  |  |  |  |  |  |  |
federal |  |  | 192 |  |  |  | 727 |  |  |  | 1,805 |
state |  |  | 14 |  |  |  | 55 |  |  |  | 142 |
undistributed earnings – foreign subsidiaries |  |  | 7,011 |  |  |  | - |  |  |  | - |
U.S. operating loss carryforwards |  |  | 3,665 |  |  |  | 1,102 |  |  |  | 1,241 |
foreign |  |  | 608 |  |  |  | 143 |  |  |  | 89 |
USD election for Canadian returns |  |  | - |  |  |  | - |  |  |  | (315 | )
valuation allowance |  |  | (11,834 | ) |  |  | (3,709 | ) |  |  | (6,352 | )
|  |  | (344 | ) |  |  | (1,682 | ) |  |  | (3,390 | )
|  | $ | 1,972 |  |  |  | 902 |  |  |  | (1,102 | )
Summary of Differences in Income Tax Expense (Benefit) at Federal Income Tax Rate and Effective Income Tax Rate | The following schedule summarizes the principal differences between the income tax expense (benefit) at the federal income tax rate and the effective income tax rate reflected in the consolidated financial statements:
|  | 2013 |  |  | 2012 |  |  | 2011 |
federal income tax rate |  |  | 34.0 | % |  |  | 34.0 | % |  |  | 34.0 | %
foreign tax rate differential |  |  | (6.7 | ) |  |  | (8.8 | ) |  |  | (6.5 | )
increase in tax reserves |  |  | 4.0 |  |  |  | 6.1 |  |  |  | 8.8 |
undistributed earnings from foreign subsidiaries |  |  | 34.6 |  |  |  | - |  |  |  | - |
non-deductible stock option expense |  |  | - |  |  |  | - |  |  |  | 1.0 |
USD election for Canadian returns |  |  | - |  |  |  | - |  |  |  | (2.1 | )
change in valuation allowance |  |  | (58.3 | ) |  |  | (26.1 | ) |  |  | (42.2 | )
other |  |  | 2.1 |  |  |  | 1.2 |  |  |  | (0.3 | )
|  |  | 9.7 | % |  |  | 6.4 | % |  |  | (7.3 | )%
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities consist of the following:
(dollars in thousands) |  | 2013 |  |  | 2012 |
deferred tax assets: |  |  |  |  |  |
accounts receivable |  | $ | 376 |  |  |  | 301 |
inventories |  |  | 1,689 |  |  |  | 1,738 |
compensation |  |  | 3,049 |  |  |  | 2,107 |
liabilities and other |  |  | 700 |  |  |  | 523 |
alternative minimum tax credit |  |  | 1,320 |  |  |  | 1,320 |
property, plant and equipment (1) |  |  | 758 |  |  |  | 1,001 |
loss carryforwards – U.S. |  |  | 19,842 |  |  |  | 23,472 |
loss carryforwards – foreign |  |  | 241 |  |  |  | 115 |
unrecognized tax benefits – U.S. |  |  | (8,976 | ) |  |  | (8,298 | )
valuation allowances |  |  | (963 | ) |  |  | (12,797 | )
total deferred tax assets |  |  | 18,036 |  |  |  | 9,482 |
deferred tax liabilities: |  |  |  |  |  |  |  |
undistributed earnings on foreign subsidiaries |  |  | (7,011 | ) |  |  | - |
property, plant and equipment (2) |  |  | (4,653 | ) |  |  | (3,715 | )
other |  |  | (985 | ) |  |  | (800 | )
total deferred tax liabilities |  |  | (12,649 | ) |  |  | (4,515 | )
Net deferred tax asset |  | $ | 5,387 |  |  |  | 4,967 |
| (1) | Pertains to the company’s operations located in China.
| (2) | Pertains to the company’s operations located in the U.S. and Canada.
Schedule of Unrecognized Tax Benefit | The following table sets forth the change in the company’s unrecognized tax benefit:
(dollars in thousands) |  | 2013 |  |  | 2012 |  |  | 2011 |
beginning balance |  | $ | 12,462 |  |  |  | 11,739 |  |  |  | 10,135 |
increases from prior period tax positions |  |  | 812 |  |  |  | 852 |  |  |  | 1,799 |
decreases from prior period tax positions |  |  | (108 | ) |  |  | (129 | ) |  |  | (195 | )
increases from current period tax positions |  |  | - |  |  |  | - |  |  |  | - |
ending balance |  | $ | 13,166 |  |  |  | 12,462 |  |  |  | 11,739 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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