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BUSINESS COMBINATIONS (Tables) | 12 Months Ended
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Apr. 29, 2018
Business Combinations [Abstract] |
Schedule of Allocation of Acquisition Cost to Assets Acquired and Liabilities Assumed | The following table presents the final allocation of the acquisition cost to the assets acquired and liabilities assumed based on their fair values.
dollars in thousands) |  | Fair Value |
Customer relationships (Note 8) |  | $ | 2,247 |
Goodwill (Note 6) |  |  | 2,107 |
Inventory |  |  | 1,128 |
Accounts receivable |  |  | 897 |
Tradename (Note 8) |  |  | 683 |
Property, plant & equipment |  |  | 379 |
Other assets |  |  | 35 |
Deferred revenue |  |  | (903 | )
Accounts payable |  |  | (719 | )
Accrued expenses |  |  | (174 | )
|  | $ | 5,680 |
Schedule of Unaudited Pro Forma Consolidated Results of Operations | The following unaudited pro forma consolidated results of operations for the years ending April 29, 2018 and April 30, 2017 have been prepared as if the acquisition of Read had occurred at May 2, 2016.
|  | Years ended |
(dollars in thousands, except per share data) |  | April 29, 2018 |  |  | April 30, 2017 |
Net Sales |  | $ | 334,953 |  |  | $ | 321,398 |
Income from operations |  |  | 26,799 |  |  |  | 30,441 |
Net income |  |  | 20,455 |  |  |  | 22,552 |
Net income per share, basic |  |  | 1.65 |  |  |  | 1.83 |
Net income per share, diluted |  |  | 1.62 |  |  |  | 1.80 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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