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Segment Information (Tables) | 3 Months Ended
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Jul. 31, 2022
Segment Reporting [Abstract] |
Schedule of Operating Segments Information | Statements of operations for our operating segments are as follows:
|  | Three months ended |
|  | July 31, 2022 |  |  | August 1, 2021 |
net sales by segment: |  |  |  |  |  |  |  |
mattress fabrics |  | $ | 29,371 |  |  | $ | 43,058 |
upholstery fabrics |  |  | 33,233 |  |  |  | 39,989 |
net sales |  | $ | 62,604 |  |  | $ | 83,047 |
gross (loss) profit: |  |  |  |  |  |  |  |
mattress fabrics |  | $ | (37 | ) |  | $ | 6,795 |
upholstery fabrics |  |  | 4,165 |  |  |  | 5,704 |
gross profit |  | $ | 4,128 |  |  | $ | 12,499 |
selling, general, and administrative expenses by segment: |  |  |  |  |  |  |  |
mattress fabrics |  | $ | 2,885 |  |  | $ | 3,184 |
upholstery fabrics |  |  | 3,622 |  |  |  | 3,437 |
unallocated corporate expenses |  |  | 2,359 |  |  |  | 2,560 |
selling, general, and administrative expenses |  | $ | 8,866 |  |  | $ | 9,181 |
(loss) income from operations by segment: |  |  |  |  |  |  |  |
mattress fabrics |  | $ | (2,921 | ) |  | $ | 3,611 |
upholstery fabrics |  |  | 542 |  |  |  | 2,267 |
unallocated corporate expenses |  |  | (2,359 | ) |  |  | (2,560 | )
(loss) income from operations |  |  | (4,738 | ) |  |  | 3,318 |
interest income |  |  | 17 |  |  |  | 74 |
other expense |  |  | (82 | ) |  |  | (237 | )
(loss) income before income taxes |  | $ | (4,803 | ) |  | $ | 3,155 |
Balance sheet information for our operating segments follows:
(dollars in thousands) |  | July 31, 2022 |  |  | August 1, 2021 |  |  | May 1, 2022 |
Segment assets: |  |  |  |  |  |  |  |  |  |  |  |
Mattress Fabrics: |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 12,382 |  |  | $ | 18,016 |  |  | $ | 9,865 |
Inventory |  |  | 36,471 |  |  |  | 31,778 |  |  |  | 39,028 |
Property, plant and equipment (1) |  |  | 37,354 |  |  |  | 41,311 |  |  |  | 38,731 |
Right of use assets (2) |  |  | 3,232 |  |  |  | 4,058 |  |  |  | 3,469 |
Total mattress fabrics assets |  |  | 89,439 |  |  |  | 95,163 |  |  |  | 91,093 |
Upholstery Fabrics: |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  |  | 12,430 |  |  |  | 16,992 |  |  |  | 12,361 |
Inventory |  |  | 27,278 |  |  |  | 26,835 |  |  |  | 27,529 |
Property, plant and equipment (3) |  |  | 2,271 |  |  |  | 1,650 |  |  |  | 2,030 |
Right of use assets (4) |  |  | 7,520 |  |  |  | 5,984 |  |  |  | 8,124 |
Total upholstery fabrics assets |  |  | 49,499 |  |  |  | 51,461 |  |  |  | 50,044 |
Total segment assets |  |  | 138,938 |  |  |  | 146,624 |  |  |  | 141,137 |
Non-segment assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 18,874 |  |  |  | 26,061 |  |  |  | 14,550 |
Short-term investments - available for sale |  |  | — |  |  |  | 9,698 |  |  |  | — |
Short-term investments - held-to-maturity |  |  | — |  |  |  | 1,661 |  |  |  | — |
Current income taxes receivable |  |  | 798 |  |  |  | 524 |  |  |  | 857 |
Other current assets |  |  | 3,840 |  |  |  | 3,889 |  |  |  | 2,986 |
Deferred income taxes |  |  | 546 |  |  |  | 455 |  |  |  | 528 |
Property, plant and equipment (5) |  |  | 865 |  |  |  | 969 |  |  |  | 941 |
Right of use assets (6) |  |  | 3,804 |  |  |  | 1,405 |  |  |  | 3,984 |
Intangible assets |  |  | 2,534 |  |  |  | 2,910 |  |  |  | 2,628 |
Long-term investments - rabbi trust |  |  | 9,567 |  |  |  | 8,841 |  |  |  | 9,357 |
Long-term investments - held-to-maturity |  |  | — |  |  |  | 6,629 |  |  |  | — |
Other assets |  |  | 724 |  |  |  | 2,582 |  |  |  | 595 |
Total assets |  | $ | 180,490 |  |  | $ | 212,248 |  |  | $ | 177,563 |
|  | Three months ended |
(dollars in thousands) |  | July 31, 2022 |  |  | August 1, 2021 |
Capital expenditures (7): |  |  |  |  |  |  |  |
Mattress Fabrics |  | $ | 197 |  |  | $ | 1,117 |
Upholstery Fabrics |  |  | 360 |  |  |  | 262 |
Unallocated Corporate |  |  | 26 |  |  |  | 274 |
Total capital expenditures |  | $ | 583 |  |  | $ | 1,653 |
Depreciation expense: |  |  |  |  |  |  |  |
Mattress Fabrics |  | $ | 1,568 |  |  | $ | 1,521 |
Upholstery Fabrics |  |  | 202 |  |  |  | 205 |
Total depreciation expense |  | $ | 1,770 |  |  | $ | 1,726 |
(1) | The $37.4 million as of July 31, 2022, represents property, plant, and equipment of $24.7 million, $11.9 million, and $718,000 located in the U.S., Canada, and Haiti, respectively. The $41.3 million as of August 1, 2021, represents property, plant, and equipment of $28.0 million, $12.4 million, and $875,000 located in the U.S., Canada, and Haiti, respectively. The $38.7 million as of May 1, 2022, represents property, plant, and equipment of $25.6 million, $12.4 million, and $757,000 located in the U.S., Canada, and Haiti, respectively.
(2) | The $3.2 million as of July 31, 2022, represents right of use assets of $1.9 million, $1.1 million, and $228,000 located in Haiti, the U.S., and Canada, respectively. The $4.1 million as of August 1, 2021, represents right of use assets of $2.3 million, $1.4 million, and $355,000 located in Haiti, the U.S., and Canada, respectively. The $3.5 million as of May 1, 2022, represents right of use assets of $2.0 million, $1.2 million, and $291,000 located in Haiti, the U.S., and Canada, respectively.
(3) | The $2.3 million as of July 31, 2022, represents property, plant, and equipment of $1.1 million, $988,000, and $232,000 located in the U.S., Haiti, and China, respectively. The $1.7 million as of August 1, 2021, represents property, plant, and equipment of $1.1 million, $400,000, and $130,000 located in the U.S., China, and Haiti, respectively. The $2.0 million as of May 1, 2022, represents property, plant, and equipment of $1.0 million, $756,000, and $255,000 located in the U.S., Haiti, and China, respectively.
(4) | The $7.5 million as of July 31, 2022, represents right of use assets of $3.4 million, $2.5 million and $1.6 million located in China, Haiti, and the U.S., respectively. The $6.0 million as of August 1, 2021, represents right of use assets of $4.6 million and $1.4 million located in China and the U.S., respectively. The $8.1 million as of May 1, 2022, represents right of use assets of $3.7 million, $2.6 million, and $1.8 million located in China, Haiti, and the U.S., respectively.
(5) | The $865,000, $969,000, and $941,000 as of July 31, 2022, August 1, 2021, and May 1, 2022, respectively, represent property, plant, and equipment associated with unallocated corporate departments and corporate departments shared by our mattress fabrics and upholstery fabrics segments. Property, plant, and equipment associated with our corporate departments reside in the U.S.
(6) | The $3.8 million, $1.4 million, and $4.0 million as of July 31, 2022, August 1, 2021, and May 1, 2022, respectively, represent right of use assets located in the U.S.
(7) | Capital expenditure amounts are stated on the accrual basis. See Consolidated Statements of Cash Flows for capital expenditure amounts on a cash basis.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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