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Business Combinations (Tables) | 6 Months Ended
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Oct. 28, 2018
Schedule of Unaudited Pro Forma Consolidated Results of Operations | The following unaudited pro forma consolidated results of operations for the three-month and six-month periods ending October 28, 2018, and October 29, 2017, have been prepared as if the acquisitions of Read had occurred on May 2, 2016 and eLuxury had occurred on May 1, 2017.
|  | Three Months Ended |
(dollars in thousands, except per share data) |  | October 28, 2018 |  |  | October 29, 2017 |
Net Sales |  | $ | 77,006 |  |  | $ | 88,760 |
Income from operations |  |  | 4,284 |  |  |  | 6,675 |
Net income |  |  | 2,944 |  |  |  | 4,100 |
Net income - noncontrolling interest |  |  | (11 | ) |  |  | (57 | )
Net income – Culp Inc. common shareholders |  |  | 2,933 |  |  |  | 4,043 |
Net income per share (basic) – Culp Inc. common shareholders |  |  | 0.23 |  |  |  | 0.33 |
Net income per share (diluted) – Culp Inc. common shareholders |  |  | 0.23 |  |  |  | 0.32 |
|  | Six Months Ended |
(dollars in thousands, except per share data) |  | October 28, 2018 |  |  | October 29, 2017 |
Net Sales |  | $ | 151,604 |  |  | $ | 177,498 |
Income from operations |  |  | 6,357 |  |  |  | 13,540 |
Net income |  |  | 3,883 |  |  |  | 8,973 |
Net (income) loss - noncontrolling interest |  |  | (11 | ) |  |  | 28 |
Net income – Culp Inc. common shareholders |  |  | 3,872 |  |  |  | 9,001 |
Net income per share (basic) – Culp Inc. common shareholders |  |  | 0.31 |  |  |  | 0.72 |
Net income per share (diluted) – Culp Inc. common shareholders |  |  | 0.31 |  |  |  | 0.71 |
Read Window Products, LLC [Member] |
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 |  | $ | 2,247 |
Goodwill |  |  | 2,107 |
Inventory |  |  | 1,128 |
Accounts receivable |  |  | 897 |
Tradename |  |  | 683 |
Property, plant & equipment |  |  | 379 |
Other assets |  |  | 35 |
Deferred revenue |  |  | (903 | )
Accounts payable |  |  | (719 | )
Accrued expenses |  |  | (174 | )
|  | $ | 5,680 |
eLuxury [Member] |
Schedule of Allocation of Acquisition Cost to Assets Acquired and Liabilities Assumed | The following table presents the preliminary allocation of the acquisition cost to the assets acquired and liabilities assumed based on their fair values.
(dollars in thousands) |  | Fair Value |
Goodwill |  | $ | 13,653 |
Tradename |  |  | 6,549 |
Equipment |  |  | 2,179 |
Inventory |  |  | 1,804 |
Accounts receivable and other current assets |  |  | 108 |
Accounts payable |  |  | (1,336 | )
Accrued expenses |  |  | (295 | )
Non-controlling interest in eLuxury |  |  | (4,532 | )
|  | $ | 18,130 |

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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/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(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://fasb.org/us-gaap/role/ref/legacyRef -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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