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Business Combination Achieved in Stages (Tables) | 9 Months Ended
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Jan. 30, 2022
Schedule of Unaudited Pro Forma Consolidated Results of Operations | The following unaudited pro forma consolidated results of operations for the three-month and nine-month periods ending January 30, 2022, and January 31, 2021, have been prepared as if this acquisition had occurred on May 4, 2020.
|  |  |  |  |  | Three Months Ended |  |  |
(dollars in thousands, except per share data) |  |  | January 30, 2022 |  |  | January 31, 2021 |
Net Sales |  |  | $ | 80,291 |  |  | $ | 79,786 |
Income from operations |  |  |  | 1,103 |  |  |  | 3,766 |
Net (loss) income |  |  |  | (289 | ) |  |  | 1,947 |
Net (loss) income per share - basic |  |  | $ | (0.02 | ) |  | $ | 0.16 |
Net (loss) income per share - diluted |  |  | $ | (0.02 | ) |  | $ | 0.16 |
|  |  |  |  |  | Nine Months Ended |  |  |
(dollars in thousands, except per share data) |  |  | January 30, 2022 |  |  | January 31, 2021 |
Net Sales |  |  | $ | 237,899 |  |  | $ | 221,931 |
Income from operations |  |  |  | 6,061 |  |  |  | 10,500 |
Net income |  |  |  | 2,812 |  |  |  | 1,764 |
Net income per share - basic |  |  | $ | 0.23 |  |  | $ | 0.14 |
Net income per share - diluted |  |  | $ | 0.23 |  |  | $ | 0.14 |
Summary of Equity Method Investment | The following table summarizes assets, liabilities, and members’ equity for our equity method investment in CIH:
(dollars in thousands) |  |  | January 31, 2021 |
total assets |  |  | $ | 3,652 |
total liabilities |  |  | $ | 205 |
total members’ equity |  |  | $ | 3,447 |
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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