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Business Combination Achieved in Stages (Tables) | 6 Months Ended
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Oct. 31, 2021
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 31, 2021, and November 1, 2020, have been prepared as if this acquisition had occurred on May 4, 2020.
|  |  |  |  |  | Three Months Ended |  |  |
(dollars in thousands, except per share data) |  |  | October 31, 2021 |  |  | November 1, 2020 |
Net Sales |  |  | $ | 74,561 |  |  | $ | 77,383 |
Income from operations |  |  |  | 1,640 |  |  |  | 4,718 |
Net income |  |  |  | 851 |  |  |  | 2,484 |
Net income per share - basic |  |  | $ | 0.07 |  |  | $ | 0.20 |
Net income per share - diluted |  |  | $ | 0.07 |  |  | $ | 0.20 |
|  |  |  |  |  | Six Months Ended |  |  |
(dollars in thousands, except per share data) |  |  | October 31, 2021 |  |  | November 1, 2020 |
Net Sales |  |  | $ | 157,608 |  |  | $ | 142,145 |
Income from operations |  |  |  | 4,958 |  |  |  | 6,735 |
Net income (loss) |  |  |  | 3,101 |  |  |  | (182 | )
Net income (loss) per share - basic |  |  | $ | 0.25 |  |  | $ | (0.01 | )
Net income (loss) per share - diluted |  |  | $ | 0.25 |  |  | $ | (0.01 | )
Summary of Equity Method Investment | The following table summarizes assets, liabilities, and members’ equity for our equity method investment in CIH:
(dollars in thousands) |  |  | November 1, 2020 |
total assets |  |  | $ | 3,951 |
total liabilities |  |  | $ | 232 |
total members’ equity |  |  | $ | 3,719 |
CIH [Member] |
Schedule of Allocation of Consideration Transferred to Assets Acquired and Liabilities Assumed | The following table presents the final allocation of the consideration transferred to the assets acquired and liabilities assumed based on their fair values:
(dollars in thousands) |  | Fair Value |
Cash and cash equivalents |  | $ | 62 |
Accounts receivable |  |  | 169 |
Inventory |  |  | 31 |
Right of use assets |  |  | 2,544 |
Equipment and leasehold improvements |  |  | 846 |
Accounts payable |  |  | (155 | )
Gain on bargain purchase |  |  | (819 | )
|  | $ | 2,678 |

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