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Income Taxes (Tables)

9 Months Ended

Jan. 26, 2025

Income Tax Disclosure [Abstract]

Summary of Differences in Income Tax Expense at Federal Income Tax Rate and Effective Income Tax Rate

The following schedule summarizes the principal differences between income tax expense at the U.S. federal income tax rate and the effective income tax rate reflected in the consolidated financial statements for the nine-month periods ended January 26, 2025, and January 28, 2024:

		January 26,				January 28,
		2025				2024
U.S. federal income tax rate			21.0	%			21.0	%
U.S. valuation allowance			(26.2	)			(42.0	)
Tax effects of local currency foreign exchange gain			0.7				3.8
Uncertain income tax positions			4.3				(0.1	)
Withholding taxes associated with foreign jurisdictions			(1.5	)			(8.1	)
Captial expenditure deduction - Quebec Canada			(1.1	)			—
Foreign income tax rate differential			(0.8	)			(5.2	)
Stock-based compensation			(0.4	)			(2.9	)
Other			0.1				0.1
		(3.9)%				(33.4)%

Summary of Valuation Allowances Against Net Deferred Income Tax Assets

Based on our assessments as of January 26, 2025, January 28, 2024, and April 28, 2024, valuation allowances against our net deferred income tax assets pertain to the following:

(dollars in thousands)		January 26, 2025				January 28, 2024				April 28, 2024
U.S. federal and state net deferred income tax assets		$	23,962			$	19,162			$	19,674
U.S. capital loss carryforward			2,330				2,330				2,330
		$	26,292			$	21,492			$	22,004

Summary of Taxes Paid

The following table sets forth taxes paid by jurisdiction:

		Nine Months				Nine Months
		Ended				Ended
		January 26,				January 28,
(dollars in thousands)		2025				2024
United States Transition Tax Payment			665				499
China Income Taxes, Net of Refunds			1,566				1,803
Canada - Income Taxes, Net of Refunds			(219	)			468
		$	2,012			$	2,770

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Summary of income taxes paid (refunded) by jurisdiction.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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