0000915779-20-000052 | 10-Q | XBRL Viewer

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Cover Page - shares	3 Months Ended
Cover Page - shares	Aug. 01, 2020	Aug. 24, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 01, 2020
Document Transition Report	false
Entity File Number	0-23246
Entity Incorporation, State or Country Code	SD
Entity Tax Identification Number	46-0306862
Entity Address, Address Line One	201 Daktronics Drive
Entity Address, City or Town	Brookings,
Entity Address, State or Province	SD
Entity Address, Postal Zip Code	57006
City Area Code	605
Local Phone Number	692-0200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		44,615,015
Entity Registrant Name	DAKTRONICS INC /SD/
Entity Central Index Key	0000915779
Current Fiscal Year End Date	--05-01
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, No Par Value
Trading Symbol	DAKT
Security Exchange Name	NASDAQ
Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Preferred Stock Purchase Rights
Trading Symbol	DAKT
Security Exchange Name	NASDAQ

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 01, 2020	May 02, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 44,609	$ 40,398
Restricted cash	96	14
Marketable securities	1,230	1,230
Accounts receivable, net	88,608	72,577
Inventories	81,435	86,803
Contract assets	33,261	35,467
Current maturities of long-term receivables	3,306	3,519
Prepaid expenses and other current assets	7,595	9,629
Income tax receivables	260	548
Property and equipment and other assets available for sale	1,966	1,817
Total current assets	262,366	252,002
Property and equipment, net	66,059	67,484
Long-term receivables, less current maturities	739	1,114
Goodwill	8,048	7,743
Intangibles, net	3,070	3,354
Investment in affiliates and other assets	26,526	27,683
Deferred income taxes	13,312	13,271
TOTAL ASSETS	380,120	372,651
CURRENT LIABILITIES:
Accounts payable	48,255	47,834
Contract liabilities	50,159	50,897
Accrued expenses	33,941	36,626
Warranty obligations	10,648	9,764
Income taxes payable	1,107	844
Total current liabilities	144,110	145,965
Long-term warranty obligations	16,412	15,860
Long-term contract liabilities	10,715	10,707
Other long-term obligations	21,469	22,105
Long-term income taxes payable	723	582
Deferred income taxes	469	452
Total long-term liabilities	49,788	49,706
SHAREHOLDERS' EQUITY:
Common Stock, no par value, authorized 115,000,000 shares; 45,913,210 and 45,913,209 shares issued at August 1, 2020 and May 2, 2020, respectively	60,010	60,010
Additional paid-in capital	45,192	44,627
Retained earnings	92,557	85,090
Treasury Stock, at cost, 1,343,281 and 1,343,281 shares at August 1, 2020 and May 2, 2020, respectively	(7,297)	(7,470)
Accumulated other comprehensive loss	(4,240)	(5,277)
TOTAL SHAREHOLDERS' EQUITY	186,222	176,980
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 380,120	$ 372,651

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Aug. 01, 2020	May 02, 2020
SHAREHOLDERS' EQUITY:
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, authorized (in shares)	115,000,000	115,000,000
Common stock, issued (in shares)	45,913,210	45,913,209
Treasury stock, at cost (in shares)	1,343,281	1,343,281

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Aug. 01, 2020	Aug. 03, 2019
Income Statement [Abstract]
Net sales	$ 143,644	$ 180,256
Cost of sales	107,883	134,751
Gross profit	35,761	45,505
Operating expenses:
Selling	11,556	18,297
General and administrative	7,124	9,093
Product design and development	7,532	10,500
Total operating expenses	26,212	37,890
Operating income	9,549	7,615
Nonoperating (expense) income:
Interest income	85	269
Interest expense	(73)	(35)
Other (expense) income, net	(627)	193
Income before income taxes	8,934	8,042
Income tax expense	1,467	1,012
Net income	$ 7,467	$ 7,030
Weighted average shares outstanding:
Basic (in shares)	44,654	45,089
Diluted (in shares)	44,751	45,261
Earnings per share:
Basic (in dollars per share)	$ 0.17	$ 0.16
Diluted (in dollars per share)	$ 0.17	$ 0.16

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Aug. 01, 2020	Aug. 03, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 7,467	$ 7,030
Other comprehensive income (loss):
Cumulative translation adjustments	1,037	(526)
Unrealized gain (loss) on available-for-sale securities, net of tax	0	41
Total other comprehensive income (loss), net of tax	1,037	(485)
Comprehensive income	$ 8,504	$ 6,545

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss
Balance at Beginning of Period at Apr. 27, 2019	$ 187,663	$ 57,699	$ 42,561	$ 93,593	$ (1,834)	$ (4,356)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	7,030			7,030
Cumulative translation adjustments	(526)					(526)
Unrealized gain (loss) on available-for-sale securities, net of tax	41					41
Share-based compensation	643		643
Employee savings plan activity	779	779
Dividends paid	(2,250)			(2,250)
Treasury stock purchase	1,187				1,187
Balance at End of Period at Aug. 03, 2019	192,193	58,478	43,204	98,373	(3,021)	(4,841)
Balance at Beginning of Period at May. 02, 2020	176,980	60,010	44,627	85,090	(7,470)	(5,277)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	7,467			7,467
Cumulative translation adjustments	1,037					1,037
Unrealized gain (loss) on available-for-sale securities, net of tax	0
Share-based compensation	539		539
Treasury stock reissued	199		26		173
Balance at End of Period at Aug. 01, 2020	$ 186,222	$ 60,010	$ 45,192	$ 92,557	$ (7,297)	$ (4,240)

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Aug. 01, 2020	Aug. 03, 2019
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share	$ 0.00	$ 0.05

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Aug. 01, 2020	Aug. 03, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 7,467	$ 7,030
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	4,337	4,383
Loss on sale of property, equipment and other assets	(53)	(26)
Share-based compensation	539	643
Equity in loss of affiliates	529	118
Provision for doubtful accounts	1	5
Deferred income taxes, net	(4)	(40)
Change in operating assets and liabilities	(4,271)	(30,331)
Net cash provided by (used in) operating activities	8,545	(18,218)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(3,155)	(5,856)
Proceeds from sales of property, equipment and other assets	86	73
Proceeds from sales or maturities of marketable securities	0	14,510
Purchases of and loans to equity investment	(492)	(455)
Net cash (used in) provided by investing activities	(3,561)	8,272
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on long-term obligations	(210)	(1,221)
Dividends paid	0	(2,250)
Payments for common shares repurchased		1,187
Net cash used in financing activities	(210)	(4,658)
EFFECT OF EXCHANGE RATE CHANGES	(481)	(37)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	4,293	(14,641)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
Beginning of period	40,412	35,742
End of period	44,705	21,101
Cash paid (received) for:
Interest	43	33
Income taxes, net of refunds	786	491
Supplemental schedule of non-cash investing and financing activities:
Purchases of property and equipment included in accounts payable	969	786
Contributions of common stock under the ESPP	$ 0	$ 779

Basis of Presentation

3 Months Ended

Aug. 01, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Summary of Critical Accounting Policies

Note 1. Basis of Presentation

Daktronics, Inc. and its subsidiaries (the “Company”, “Daktronics”, “we”, “our”, or “us”) are the world's industry leader in designing and manufacturing electronic scoreboards, programmable display systems and large screen video displays for sporting, commercial and transportation applications.

In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring adjustments) necessary to fairly present our financial position, results of operations and cash flows for the periods presented. The preparation of financial statements in conformity with generally accepted accounting principles in the United States ("GAAP") requires management to make estimates and assumptions affecting the reported amounts therein. Due to the inherent uncertainty involved in making estimates, actual results in future periods may differ from those estimates.

Certain information and disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. The balance sheet at May 2, 2020, has been derived from the audited financial statements at that date, but it does not include all the information and disclosures required by GAAP for complete financial statements. These financial statements should be read in conjunction with our financial statements and notes thereto for the year ended May 2, 2020, which are contained in our Annual Report on Form 10-K previously filed with the Securities and Exchange Commission ("SEC"). The results of operations for the interim periods presented are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year.

Daktronics, Inc. operates on a 52- or 53-week fiscal year, with our fiscal year ending on the Saturday closest to April 30 of each year. When April 30 falls on a Wednesday, the fiscal year ends on the preceding Saturday. Within each fiscal year, each quarter is comprised of 13-week periods following the beginning of each fiscal year. In each 53-week year, an additional week is added to the first quarter, and each of the last three quarters is comprised of a 13-week period. The fiscal year ended May 1, 2021 will consist of 52 weeks and the fiscal year ended May 2, 2020 was a 53-week year; therefore, the three months ended August 1, 2020 contains operating results for 13 weeks while the three months ended August 3, 2019 contains operating results for 14 weeks.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the totals of the same amounts shown in the condensed consolidated statement of cash flows:



	August 1, 2020		August 3, 2019
Cash and cash equivalents	$	44,609	$	20,762
Restricted cash	96		339
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows	$	44,705	$	21,101

Other Business Developments - Coronavirus Pandemic

During the first quarter of fiscal 2021, we continued to see the global spread of the coronavirus pandemic ("COVID-19"), which grew to create significant volatility, uncertainty and global economic disruption. As disclosed in our Current Report on Form 8-K filed on April 1, 2020, we are taking proactive steps to solidify our financial position and mitigate any adverse consequences. These steps include preserving liquidity by drawing down $15,000 of our existing line of credit, which is included in the "Other long-term obligations" line item in our condensed consolidated balance sheets. In addition, we are pursuing other sources of financing, reducing investments in capital assets, reducing executive pay and board member compensation, and instituting initiatives to reduce other costs in the business. Our board of directors voted to suspend stock repurchases under our share repurchase program and to suspend dividends for the foreseeable future. We believe these measures are necessary to help preserve our ability to borrow for liquidity needs and help us be well positioned when the pandemic passes and economies begin to recover.

During fiscal 2020, we offered special voluntary retirement and voluntary exit incentive program ("Offering") and during the first quarter of fiscal 2021, we conducted a reduction in force ("RIF") to adjust our capacity and reduce on-going expenses due to the uncertainties created by the COVID-19 pandemic. Under the Offering, employees had until June 2020 to choose to participate. During the first quarter of fiscal 2021, 60 employees agreed to participate and completed employment in June 2020. The approximate cost of this Offering was $931. Under the RIF, employment was terminated with 108 employees with severance totaling $1,426.

Various government programs have been announced which provide financial relief for affected businesses that suffered reductions in revenue resulting from the COVID-19 pandemic including the Canada Emergency Wage Subsidy ("CEWS") under the COVID-19 Economic Response Plan in Canada, the Australian JobKeeper subsidy in Australia, the Temporary COVID-19 Wage Subsidy in Ireland, and the Job Retention Program in the United Kingdom. During the first quarter of fiscal 2021, we received $812 in total governmental wage subsidies and recorded such as a reduction of compensation expense, which is mostly included in the "Costs of sales" line item in our condensed consolidated statements of operations.

Recent Accounting Pronouncements

There have been no material changes to our significant accounting policies and estimates as described in our Annual Report on Form 10-K for the fiscal year ended May 2, 2020, other than described in the Accounting Standards Adopted section below.

Accounting Standards Adopted

In January 2017, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2017-04, Intangibles-Goodwill and Other (Topic 350), which simplifies the subsequent measurement of goodwill by removing the second step of the two-step impairment test. The amendment requires an entity to perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. A goodwill impairment will be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for interim and annual periods beginning after December 15, 2019 and will require adoption on a prospective basis. We adopted ASU 2017-04 during the first quarter of fiscal 2021 and the adoption did not have an impact on our condensed consolidated financial statements.

In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments, which provides guidance regarding the measurement and recognition of credit impairment for certain financial assets. ASU 2016-13 improves financial reporting by requiring more timely recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. Under the new guidance, the ASU requires an organization to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts. ASU 2016-13 is effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted, and will require adoption on a modified retrospective basis. We adopted ASU 2016-13 and its related guidance during the first quarter of fiscal 2021 and the adoption did not have a material impact on our condensed consolidated financial statements.

We estimate an allowance for doubtful accounts using a loss rate method. We measure all expected credit losses for financial assets held

at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts.

A reconciliation of the beginning and ending allowance for doubtful accounts is as follows:



	Allowance for Doubtful Accounts:
Balance as of May 2, 2020	$	2,828
Charged to costs and expenses	735
Deductions (1)	(241		)
Balance as of August 1, 2020	$	3,322

(1) Includes accounts determined to be uncollectible and charged against reserves.

Accounting Standards Not Yet Adopted

There are no significant ASU's issued not yet adopted as of August 1, 2020.

Investments in Affiliates Investment in Affiliates	3 Months Ended
Investments in Affiliates Investment in Affiliates	Aug. 01, 2020
Equity and Cost Method Investments [Abstract]
Cost and Equity Method Investments Disclosure [Text Block]	Note 2. Investments in Affiliates Investments in affiliates over which we have significant influence are accounted for under the equity method of accounting, recording the investment at cost and then subsequently adjusting to account for our share of the affiliates profit or losses, in accordance with the provisions of Accounting Standards Codification ("ASC") 323, Investments – Equity Method and Joint Ventures. Investments in affiliates over which we do not have the ability to exert significant influence over the affiliate's operating and financing activities are accounted for under the cost method of accounting, recording the investment at cost and then subsequently adjusting for any changes in ownership or dividends, in accordance with the provisions of ASC 321, Investments – Equity Securities. We have evaluated our relationships with our affiliates and have determined that these entities are not variable interest entities. Cash paid for investments in affiliates and loans to affiliates are included in the "Purchases of and loans to equity investment" line item in our condensed consolidated statements of cash flows. Equity method investments as a whole are assessed for other-than-temporary impairments whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable. The aggregate amount of investments accounted for under the equity method was $16,728 and $17,257 at August 1, 2020 and May 2, 2020, respectively. Our proportional share of the respective affiliates' earnings or losses is included in the "Other (expense) income, net" line item in our condensed consolidated statements of operations. For the three months ended August 1, 2020 and August 3, 2019, our share of the losses of our affiliates was $529 and $118, respectively.

Earnings Per Share EPS

3 Months Ended

Aug. 01, 2020

Earnings Per Share [Abstract]

Earnings Per Share EPS

Note 3. Earnings Per Share ("EPS")

We follow the provisions of ASC 260, Earnings Per Share, where basic EPS is computed by dividing income attributable to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution which may occur if securities or other obligations to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock which share in our earnings.

The following is a reconciliation of the net income and common share amounts used in the calculation of basic and diluted EPS for the three months ended August 1, 2020 and August 3, 2019:



	Net income		Shares	Per share income
For the three months ended August 1, 2020
Basic earnings per share	$	7,467	44,654	$	0.17
Dilution associated with stock compensation plans	—		97	—
Diluted earnings per share	$	7,467	44,751	$	0.17
For the three months ended August 3, 2019
Basic earnings per share	$	7,030	45,089	$	0.16
Dilution associated with stock compensation plans	—		172	—
Diluted earnings per share	$	7,030	45,261	$	0.16

Options outstanding to purchase 2,119 shares of common stock with a weighted average exercise price of $9.96 for the three months ended August 1, 2020 and 2,197 shares of common stock with a weighted average exercise price of $10.03 for the three months ended August 3, 2019 were not included in the computation of diluted earnings per share because the effects would be anti-dilutive.

Revenue Recognition Revenue Recognition

3 Months Ended

Aug. 01, 2020

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Note 4. Revenue Recognition

Disaggregation of revenue

In accordance with ASC 606-10-50, we disaggregate revenue from contracts with customers by the type of performance obligation and the timing of revenue recognition. We determine that disaggregating revenue in these categories achieves the disclosure objective to depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors and to enable users of financial statements to understand the relationship to each reportable segment.

The following table presents our disaggregation of revenue by segments:



	Three Months Ended August 1, 2020
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	8,727	$	41,975	$	7,668	$	7,724	$	4,012	$	70,106
Limited configuration	22,555		5,419		20,688		6,266		8,653		63,581
Service and other	3,224		4,080		587		508		1,558		9,957
	$	34,506	$	51,474	$	28,943	$	14,498	$	14,223	$	143,644
Timing of revenue recognition
Goods/services transferred at a point in time	$	22,892	$	6,214	$	19,368	$	6,374	$	9,179	$	64,027
Goods/services transferred over time	11,614		45,260		9,575		8,124		5,044		79,617
	$	34,506	$	51,474	$	28,943	$	14,498	$	14,223	$	143,644



	Three Months Ended August 3, 2019
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	12,965	$	45,587	$	6,030	$	11,897	$	15,678	$	92,157
Limited configuration	27,235		7,713		23,800		6,587		9,930		75,265
Service and other	3,835		6,006		635		534		1,824		12,834
	$	44,035	$	59,306	$	30,465	$	19,018	$	27,432	$	180,256
Timing of revenue recognition
Goods/services transferred at a point in time	$	27,703	$	9,120	$	22,599	$	6,697	$	10,188	$	76,307
Goods/services transferred over time	16,332		50,186		7,866		12,321		17,244		103,949
	$	44,035	$	59,306	$	30,465	$	19,018	$	27,432	$	180,256

See "Note 5. Segment Reporting" for a disaggregation of revenue by geography.

Contract balances

Contract assets represent revenue recognized in excess of amounts billed and include unbilled receivables. Unbilled receivables, which represent an unconditional right to payment subject only to the passage of time, are reclassified to accounts receivable when they are billed according to the contract terms. Contract liabilities represent amounts billed to the clients in excess of revenue recognized to date.

The following table reflects the changes in our contract assets and liabilities:



	August 1, 2020		May 2, 2020		Dollar Change			Percent Change
Contract assets	$	33,261	$	35,467	$	(2,206	)	(6.2	)%
Contract liabilities - current	50,159		50,897		(738		)	(1.4	)
Contract liabilities - noncurrent	10,715		10,707		8			0.1

The changes in our contract assets and contract liabilities from May 2, 2020 to August 1, 2020 were due to the timing of billing schedules and revenue recognition, which can vary significantly depending on the contractual payment terms and the seasonality of the sports markets. We had no material impairments of contract assets for the three months ended August 1, 2020.

For service-type warranty contracts, we allocate revenue to this performance obligation, recognize the revenue over time, and recognize costs as incurred. Earned and unearned revenues for these contracts are included in the "Contract assets" and "Contract liabilities" line items in our condensed consolidated balance sheets. Changes in unearned service-type warranty contracts, net were as follows:



	August 1, 2020
Balance at beginning of period	$	24,490
New contracts sold	8,188
Less: reductions for revenue recognized	(9,115		)
Foreign currency translation and other	250
Balance at end of period	$	23,813

As of August 1, 2020 and May 2, 2020, our contracts in progress that were identified as loss contracts were immaterial. For these contracts, the provision for losses are included in the "Accrued expenses" line item in our condensed consolidated balance sheets.

During the three months ended August 1, 2020, we recognized revenue of $30,358 related to our contract liabilities as of May 2, 2020.

Remaining performance obligations

As of August 1, 2020, the aggregate amount of the transaction price allocated to the remaining performance obligations was $245,756. We expect approximately $204,878 of our remaining performance obligations to be recognized over the next 12 months, with the remainder recognized thereafter. Remaining performance obligations related to product and service agreements at August 1, 2020 are $191,717 and $54,039, respectively. Although remaining performance obligations reflect business that is considered to be legally binding, cancellations, deferrals or scope adjustments may occur. Any known project cancellations, revisions to project scope and cost, foreign currency exchange fluctuations and project deferrals are reflected or excluded in the remaining performance obligation balance, as appropriate.

Segment Disclosure

3 Months Ended

Aug. 01, 2020

Segment Reporting [Abstract]

Segment Disclosure

Note 5. Segment Reporting

We organize and manage our business by the following five segments which meet the definition of reportable segments under ASC 280-10, Segment Reporting: Commercial, Live Events, High School Park and Recreation, Transportation, and International. These segments are based on the customer type or geography and are the same as our business units. We evaluate segment performance based on operating results through contribution margin, which is comprised of gross profit less selling expense. We exclude general and administration expense, product design and development expense, non-operating income and expense, and income tax expense in the segment analysis. Separate financial information is available and regularly evaluated by our chief operating decision-maker (CODM), who is our president and chief executive officer, in making resource allocation decisions for our segments.

The following table sets forth certain financial information for each of our five reporting segments for the periods indicated:



	Three Months Ended
	August 1, 2020			August 3, 2019
Net sales:
Commercial	$	34,506		$	44,035
Live Events	51,474			59,306
High School Park and Recreation	28,943			30,465
Transportation	14,498			19,018
International	14,223			27,432
	143,644			180,256

Gross profit:
Commercial	7,742			9,218
Live Events	9,354			12,737
High School Park and Recreation	10,476			10,187
Transportation	5,143			6,754
International	3,046			6,609
	35,761			45,505

Contribution margin: (1)
Commercial	4,441			4,084
Live Events	7,138			8,872
High School Park and Recreation	7,915			6,592
Transportation	4,381			5,452
International	330			2,208
	24,205			27,208

Non-allocated operating expenses:
General and administrative	7,124			9,093
Product design and development	7,532			10,500
Operating income	9,549			7,615

Nonoperating income (expense):
Interest income	85			269
Interest expense	(73		)	(35		)
Other (expense) income, net	(627		)	193

Income before income taxes	8,934			8,042
Income tax expense	1,467			1,012
Net income	$	7,467		$	7,030

Depreciation and amortization:
Commercial	$	772		$	974
Live Events	1,451			1,398
High School Park and Recreation	496			512
Transportation	237			264
International	693			524
Unallocated corporate depreciation	688			711
	$	4,337		$	4,383

(1) Contribution margin consists of gross profit less selling expense.

No single geographic area comprises a material amount of our net sales or property and equipment, net of accumulated depreciation, other than the United States. The following table presents information about net sales and property and equipment, net of accumulated depreciation, in the United States and elsewhere:



	Three Months Ended
	August 1, 2020		August 3, 2019
Net sales:
United States	$	128,069	$	149,460
Outside United States	15,575		30,796
	$	143,644	$	180,256


	August 1, 2020		May 2, 2020
Property and equipment, net of accumulated depreciation:
United States	$	56,822	$	58,422
Outside United States	9,237		9,062
	$	66,059	$	67,484

We have numerous customers worldwide for sales of our products and services, and no customer accounted for 10% or more of net sales; therefore, we are not economically dependent on a limited number of customers for the sale of our products and services.

We have numerous raw material and component suppliers, and no supplier accounts for 10% or more of our cost of sales; however, we have a number of single-source suppliers that could limit our supply or cause delays in obtaining raw material and components needed in manufacturing.

Marketable Securities

3 Months Ended

Aug. 01, 2020

Marketable Securities [Abstract]

Marketable Securities

Note 6. Marketable Securities

We have a cash management program which provides for the investment of cash balances not used in current operations. We classify our investments in marketable securities as available-for-sale in accordance with the provisions of ASC 320, Investments – Debt and Equity Securities. Marketable securities classified as available-for-sale are reported at fair value with unrealized gains or losses, net of tax, reported in accumulated other comprehensive loss in the condensed consolidated balance sheets. As it relates to fixed income marketable securities, it is not likely we will be required to sell any of these investments before recovery of the entire amortized cost basis. In addition, as of August 1, 2020, we anticipate we will recover the entire amortized cost basis of such fixed income securities, and we have determined no other-than-temporary impairments associated with credit losses were required to be recognized. The cost of securities sold is based on the specific identification method. Where quoted market prices are not available, we use the market price of similar types of securities traded in the market to estimate fair value.

As of August 1, 2020 and May 2, 2020, our available-for-sale securities consisted of the following:



	Amortized Cost		Unrealized Losses		Fair Value
Balance as of August 1, 2020
Certificates of deposit	$	1,230	$	—	$	1,230
	$	1,230	$	—	$	1,230
Balance as of May 2, 2020
Certificates of deposit	$	1,230	$	—	$	1,230
	$	1,230	$	—	$	1,230

Realized gains or losses on investments are recorded in our condensed consolidated statements of operations as "Other (expense) income, net." Upon the sale of a security classified as available-for-sale, the security’s specific unrealized gain (loss) is reclassified out of accumulated other comprehensive loss into earnings based on the specific identification method. In the three months ended August 1, 2020 and August 3, 2019, the reclassifications from accumulated other comprehensive loss to net earnings were immaterial.

All available-for-sale securities are classified as current assets, as they are readily available to support our current operating needs. The contractual maturities of available-for-sale debt securities as of August 1, 2020 were as follows:



	Less than 12 months		Total
Certificates of deposit	$	1,230	$	1,230
	$	1,230	$	1,230

Goodwill

3 Months Ended

Aug. 01, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Note 7. Goodwill

The changes in the carrying amount of goodwill related to each reportable segment for the three months ended August 1, 2020 were as follows:



	Live Events		Commercial		Transportation		International		Total
Balance as of May 2, 2020	$	2,266	$	3,144	$	38	$	2,295	$	7,743
Foreign currency translation	13		91		13		188		305
Balance as of August 1, 2020	$	2,279	$	3,235	$	51	$	2,483	$	8,048

We perform an analysis of goodwill on an annual basis, and it is tested for impairment more frequently if events or changes in circumstances indicate that an asset might be impaired. Our annual analysis is performed during our third quarter of each fiscal year, based on the goodwill amount as of the first business day of our third fiscal quarter. We performed our annual impairment test on November 4, 2019 and concluded no goodwill impairment existed. We plan to complete our annual analysis as of the first business day of our third quarter of fiscal 2021, which will begin on November 2, 2020.

In March 2020, we began to see the impacts from the COVID-19 pandemic that could have a negative impact on our forecasted revenue and profitability and stock price declines. This, along with other market conditions, led us to perform an interim goodwill impairment analysis in the fourth quarter of fiscal 2020. After evaluating our results, events and circumstances, we determined no goodwill impairment was necessary. Although the COVID-19 pandemic continues to cause uncertainty, in the first quarter of fiscal 2021, we considered if any new events had occurred or if circumstances had changed such that it was more likely than not that the fair value of any of our reporting units was below its carrying amount, and we did not identify any further impairment indicators; therefore, we did not perform an additional interim impairment analysis.

Selected Financial Statement Data

3 Months Ended

Aug. 01, 2020

Selected Financial Statement Data [Abstract]

Selected Financial Statement Data

Note 8. Selected Financial Statement Data

Inventories consisted of the following:



	August 1, 2020		May 2, 2020
Raw materials	$	33,076	$	35,306
Work-in-process	9,943		12,102
Finished goods	38,416		39,395
	$	81,435	$	86,803

Property and equipment, net consisted of the following:



	August 1, 2020		May 2, 2020
Land	$	2,183	$	2,183
Buildings	69,967		68,804
Machinery and equipment	105,188		104,157
Office furniture and equipment	6,174		6,151
Computer software and hardware	53,691		53,441
Equipment held for rental	287		287
Demonstration equipment	8,368		8,473
Transportation equipment	7,783		7,944
	253,641		251,440
Less accumulated depreciation	187,582		183,956
	$	66,059	$	67,484

Receivables	3 Months Ended
Receivables	Aug. 01, 2020
Receivables [Abstract]
Receivables	Note 9. Receivables We invoice customers based on a billing schedule as established in our contracts. We sometimes have the ability to file a contractor’s lien against the product installed as collateral and to file claims against surety bonds to protect our interest in receivables. Foreign sales are at times secured by irrevocable letters of credit or bank guarantees. Accounts receivable are reported net of an allowance for doubtful accounts of $3,322 and $2,828 at August 1, 2020 and May 2, 2020, respectively. Included in accounts receivable as of August 1, 2020 and May 2, 2020 was $741 and $687, respectively, of retainage on construction-type contracts, all of which is expected to be collected within one year. In some contracts with customers, we agree to installment payments exceeding 12 months. The present value of these contracts is recorded as a receivable as the revenue is recognized in accordance with GAAP, and profit is recognized to the extent the present value is in excess of cost. We generally retain a security interest in the equipment or in the cash flow generated by the equipment until the contract is paid. The present value of long-term contracts, including accrued interest and current maturities, was $4,045 and $4,633 as of August 1, 2020 and May 2, 2020, respectively. Contract receivables bearing annual interest rates of 5.0 to 9.0 percent are due in varying annual installments through 2024. The face value of long-term receivables was $4,327 as of August 1, 2020 and $5,166 as of May 2, 2020. We evaluated our receivable and contract assets as of August 1, 2020 and reserved for anticipated losses. Due to the uncertainty created by the COVID-19 pandemic, this loss may materially change from this estimate.

Share Repurchase Program Share Repurchase Program	3 Months Ended
Share Repurchase Program Share Repurchase Program	Aug. 01, 2020
Class of Stock Disclosures [Abstract]
Treasury Stock [Text Block]	Note 10. Share Repurchase Program On June 17, 2016, our Board of Directors approved a stock repurchase program under which we may purchase up to $40,000 of the Company's outstanding shares of common stock. Under this program, we may repurchase shares from time to time in open market transactions and in privately negotiated transactions based on business, market, applicable legal requirements and other considerations. The repurchase program does not require the repurchase of a specific number of shares and may be terminated at any time. During the three months ended August 1, 2020, we had no repurchases of shares of our outstanding common stock. During the three months ended August 3, 2019, we repurchased 187 shares of common stock at a total cost of $1,187. As of August 1, 2020, we had $32,539 of remaining capacity under our current share repurchase program. As part of our COVID-19 response, on April 1, 2020, our Board of Directors voted to suspend stock repurchases under our share repurchase program for the foreseeable future.

Commitments and Contingencies

3 Months Ended

Aug. 01, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 11. Commitments and Contingencies

Litigation: We are a party to legal proceedings and claims which arise during the ordinary course of business.

As of August 1, 2020 and May 2, 2020, $2,118 and $2,072, respectively, were included in the "Accrued expenses" line item in our condensed consolidated balance sheets for a probable and reasonably estimated cost to settle a patent litigation claim.

For other unresolved legal proceedings or claims, we do not believe there is a reasonable probability that any material loss would be incurred. Accordingly, no material accrual or disclosure of a potential range of loss has been made related to these matters. We do not expect the ultimate liability of these unresolved legal proceedings or claims to have a material effect on our financial position, liquidity or capital resources.

Warranties: Changes in our warranty obligation for the three months ended August 1, 2020 consisted of the following:



	August 1, 2020
Beginning accrued warranty obligations	$	25,624
Warranties issued during the period	2,800
Settlements made during the period	(1,056		)
Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations	(308		)
Ending accrued warranty obligations	$	27,060

Performance guarantees: We have entered into standby letters of credit and surety bonds with financial institutions relating to the guarantee of our future performance on contracts, primarily construction-type contracts. As of August 1, 2020, we had outstanding letters of credit and surety bonds in the amount of $14,788 and $35,079, respectively. Performance guarantees are issued to certain customers

to guarantee the operation and installation of the equipment and our ability to complete a contract. These performance guarantees have various terms but are generally one year. We enter into written agreements with our customers, and those agreements often contain indemnification provisions that require us to make the customer whole if certain acts or omissions by us cause the customer financial loss. We make efforts to negotiate reasonable caps and limitations on the recovery of such damages. As of August 1, 2020, we were not aware of any indemnification claim from a customer.

Purchase commitments: From time to time, we commit to purchase inventory, advertising, cloud-based information systems, information technology maintenance and support services, and various other products and services over periods that extend beyond one year. As of August 1, 2020, we were obligated under the following unconditional purchase commitments:



Fiscal years ending	Amount
2021	$	2,831
2022	2,750
2023	1,755
2024	148
2025	113
Thereafter	40
	$	7,637

Income Taxes	3 Months Ended
Income Taxes	Aug. 01, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 12. Income Taxes We calculate the provision for income taxes during interim reporting periods by applying an estimate of the annual effective tax rate for the full fiscal year to “ordinary” income or loss (pre-tax income or loss excluding unusual or infrequently occurring discrete items) for the reporting period. Due to various factors and operating in multiple state and foreign jurisdictions, our effective tax rate is subject to fluctuation. Our effective tax rate for the three months ended August 1, 2020 was 16.4 percent as compared to 12.6 percent for the three months ended August 3, 2019. The quarterly effective tax rate was primarily driven by the benefit of estimated tax credits proportionate to estimated pre-tax earnings similar to the previous period. We are subject to U.S. federal income tax as well as income taxes of multiple state and foreign jurisdictions. Fiscal years 2017, 2018, 2019 and 2020 remain open to federal tax examinations, and fiscal years 2016, 2017, 2018, 2019 and 2020 remain open for various state income tax examinations. Certain subsidiaries are also subject to income tax in several foreign jurisdictions which have open tax years varying by jurisdiction beginning in fiscal 2009. In the event of any future tax assessments, we have elected to record the income taxes and any related interest and penalties as income tax expense in our condensed consolidated statement of operations. As of August 1, 2020, undistributed earnings of our foreign subsidiaries are considered to be reinvested indefinitely. Additionally, we had $723 of unrecognized tax benefits which would reduce our effective tax rate if recognized.

Fair Value Measurement

3 Months Ended

Aug. 01, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurement

Note 13. Fair Value Measurement

The following table sets forth by Level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis at August 1, 2020 and May 2, 2020 according to the valuation techniques we used to determine their fair values. There have been no transfers of assets or liabilities among the fair value hierarchies presented.



	Fair Value Measurements
	Level 1		Level 2			Level 3			Total
Balance as of August 1, 2020
Cash and cash equivalents	$	44,609	$	—		$	—		$	44,609
Restricted cash	96		—			—			96
Available-for-sale securities:
Certificates of deposit	—		1,230			—			1,230
Derivatives - asset position	—		36			—			36
Derivatives - liability position	—		(242		)	—			(242		)
Acquisition-related contingent consideration	—		—			(401		)	(401		)
	$	44,705	$	1,024		$	(401	)	$	45,328
Balance as of May 2, 2020
Cash and cash equivalents	$	40,398	$	—		$	—		$	40,398
Restricted cash	14		—			—			14
Available-for-sale securities:
Certificates of deposit	—		1,230			—			1,230
Derivatives - asset position	—		261			—			261
Derivatives - liability position	—		(17		)	—			(17		)
Acquisition-related contingent consideration	—		—			(761		)	(761		)
	$	40,412	$	1,474		$	(761	)	$	41,125

A roll forward of the Level 3 contingent liabilities, both short- and long-term, for the three months ended August 1, 2020 is as follows:



Acquisition-related contingent consideration as of May 2, 2020	$	761
Additions	33
Settlements	(400		)
Interest	7
Acquisition-related contingent consideration as of August 1, 2020	$	401

There have been no changes in the valuation techniques used by us to value our financial instruments since the end of fiscal 2020. For additional information, see our Annual Report on Form 10-K for the fiscal year ended May 2, 2020 for the methods and assumptions used to estimate the fair value of each class of financial instrument.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Financial Instruments

3 Months Ended

Aug. 01, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Note 14. Derivative Financial Instruments

We utilize derivative financial instruments to manage the economic impact of fluctuations in currency exchange rates on those transactions denominated in currencies other than our functional currency, which is the U.S. dollar. We enter into currency forward contracts to manage these economic risks. We account for all derivatives in the condensed consolidated balance sheets within accounts receivable or accounts payable measured at fair value, and changes in fair values are recognized in earnings unless specific hedge accounting criteria are met for cash flow or net investment hedges. As of August 1, 2020 and May 2, 2020, we had not designated any of our derivative instruments as accounting hedges, and thus we recorded the changes in fair value in the "Other (expense) income, net" line item in the condensed consolidated statements of operations.

The foreign currency exchange contracts in aggregated notional amounts in place to exchange U.S. dollars at August 1, 2020 and May 2, 2020 were as follows:



	August 1, 2020		May 2, 2020
	U.S. Dollars	Foreign Currency	U.S. Dollars	Foreign Currency
Foreign Currency Exchange Forward Contracts:
U.S. Dollars/Australian Dollars	5,406	7,839	2,235	3,323
U.S. Dollars/Canadian Dollars	—	—	452	648
U.S. Dollars/British Pounds	2,149	1,650	3,160	2,424
U.S. Dollars/Euros	—	—	1,881	1,689

As of August 1, 2020, there was an asset and liability of $36 and $242, respectively; and as of May 2, 2020, there was an asset and liability of $261 and $17, respectively, representing the fair value of foreign currency exchange forward contracts, which were determined using Level 2 inputs from a third-party bank. As of August 1, 2020, all contracts mature within 17 months.

Subsequent Events (Notes)	3 Months Ended
Subsequent Events (Notes)	Aug. 01, 2020
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note 15. Subsequent Events On August 28, 2020, we entered into the third amendment to our credit agreement and a security agreement over certain assets. The third amendment adds a liquidity covenant and revises other financial covenants.

Basis of Presentation (Policies)

3 Months Ended

Aug. 01, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Recently Issued Accounting Pronouncements

Recent Accounting Pronouncements

Accounting Standards Adopted

We estimate an allowance for doubtful accounts using a loss rate method. We measure all expected credit losses for financial assets held

at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts.

A reconciliation of the beginning and ending allowance for doubtful accounts is as follows:



	Allowance for Doubtful Accounts:
Balance as of May 2, 2020	$	2,828
Charged to costs and expenses	735
Deductions (1)	(241		)
Balance as of August 1, 2020	$	3,322

(1) Includes accounts determined to be uncollectible and charged against reserves.

Accounting Standards Not Yet Adopted

There are no significant ASU's issued not yet adopted as of August 1, 2020.

Basis of Presentation (Tables)

3 Months Ended

Aug. 01, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents [Table Text Block]



	August 1, 2020		August 3, 2019
Cash and cash equivalents	$	44,609	$	20,762
Restricted cash	96		339
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows	$	44,705	$	21,101

Accounts Receivable, Allowance for Credit Loss [Table Text Block]

A reconciliation of the beginning and ending allowance for doubtful accounts is as follows:



	Allowance for Doubtful Accounts:
Balance as of May 2, 2020	$	2,828
Charged to costs and expenses	735
Deductions (1)	(241		)
Balance as of August 1, 2020	$	3,322

(1) Includes accounts determined to be uncollectible and charged against reserves.

Earnings Per Share EPS (Tables)

3 Months Ended

Aug. 01, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Reconciliation

The following is a reconciliation of the net income and common share amounts used in the calculation of basic and diluted EPS for the three months ended August 1, 2020 and August 3, 2019:



	Net income		Shares	Per share income
For the three months ended August 1, 2020
Basic earnings per share	$	7,467	44,654	$	0.17
Dilution associated with stock compensation plans	—		97	—
Diluted earnings per share	$	7,467	44,751	$	0.17
For the three months ended August 3, 2019
Basic earnings per share	$	7,030	45,089	$	0.16
Dilution associated with stock compensation plans	—		172	—
Diluted earnings per share	$	7,030	45,261	$	0.16

Revenue Recognition (Tables)

3 Months Ended

Aug. 01, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table presents our disaggregation of revenue by segments:



	Three Months Ended August 1, 2020
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	8,727	$	41,975	$	7,668	$	7,724	$	4,012	$	70,106
Limited configuration	22,555		5,419		20,688		6,266		8,653		63,581
Service and other	3,224		4,080		587		508		1,558		9,957
	$	34,506	$	51,474	$	28,943	$	14,498	$	14,223	$	143,644
Timing of revenue recognition
Goods/services transferred at a point in time	$	22,892	$	6,214	$	19,368	$	6,374	$	9,179	$	64,027
Goods/services transferred over time	11,614		45,260		9,575		8,124		5,044		79,617
	$	34,506	$	51,474	$	28,943	$	14,498	$	14,223	$	143,644



	Three Months Ended August 3, 2019
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	12,965	$	45,587	$	6,030	$	11,897	$	15,678	$	92,157
Limited configuration	27,235		7,713		23,800		6,587		9,930		75,265
Service and other	3,835		6,006		635		534		1,824		12,834
	$	44,035	$	59,306	$	30,465	$	19,018	$	27,432	$	180,256
Timing of revenue recognition
Goods/services transferred at a point in time	$	27,703	$	9,120	$	22,599	$	6,697	$	10,188	$	76,307
Goods/services transferred over time	16,332		50,186		7,866		12,321		17,244		103,949
	$	44,035	$	59,306	$	30,465	$	19,018	$	27,432	$	180,256

Contract with Customer, Asset and Liability

The following table reflects the changes in our contract assets and liabilities:



	August 1, 2020		May 2, 2020		Dollar Change			Percent Change
Contract assets	$	33,261	$	35,467	$	(2,206	)	(6.2	)%
Contract liabilities - current	50,159		50,897		(738		)	(1.4	)
Contract liabilities - noncurrent	10,715		10,707		8			0.1

Deferred Revenue, by Arrangement

Changes in unearned service-type warranty contracts, net were as follows:



	August 1, 2020
Balance at beginning of period	$	24,490
New contracts sold	8,188
Less: reductions for revenue recognized	(9,115		)
Foreign currency translation and other	250
Balance at end of period	$	23,813

Segment Disclosure (Tables)

3 Months Ended

Aug. 01, 2020

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table sets forth certain financial information for each of our five reporting segments for the periods indicated:



	Three Months Ended
	August 1, 2020			August 3, 2019
Net sales:
Commercial	$	34,506		$	44,035
Live Events	51,474			59,306
High School Park and Recreation	28,943			30,465
Transportation	14,498			19,018
International	14,223			27,432
	143,644			180,256

Gross profit:
Commercial	7,742			9,218
Live Events	9,354			12,737
High School Park and Recreation	10,476			10,187
Transportation	5,143			6,754
International	3,046			6,609
	35,761			45,505

Contribution margin: (1)
Commercial	4,441			4,084
Live Events	7,138			8,872
High School Park and Recreation	7,915			6,592
Transportation	4,381			5,452
International	330			2,208
	24,205			27,208

Non-allocated operating expenses:
General and administrative	7,124			9,093
Product design and development	7,532			10,500
Operating income	9,549			7,615

Nonoperating income (expense):
Interest income	85			269
Interest expense	(73		)	(35		)
Other (expense) income, net	(627		)	193

Income before income taxes	8,934			8,042
Income tax expense	1,467			1,012
Net income	$	7,467		$	7,030

Depreciation and amortization:
Commercial	$	772		$	974
Live Events	1,451			1,398
High School Park and Recreation	496			512
Transportation	237			264
International	693			524
Unallocated corporate depreciation	688			711
	$	4,337		$	4,383

(1) Contribution margin consists of gross profit less selling expense.

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

The following table presents information about net sales and property and equipment, net of accumulated depreciation, in the United States and elsewhere:



	Three Months Ended
	August 1, 2020		August 3, 2019
Net sales:
United States	$	128,069	$	149,460
Outside United States	15,575		30,796
	$	143,644	$	180,256


	August 1, 2020		May 2, 2020
Property and equipment, net of accumulated depreciation:
United States	$	56,822	$	58,422
Outside United States	9,237		9,062
	$	66,059	$	67,484

Marketable Securities (Tables)

3 Months Ended

Aug. 01, 2020

Marketable Securities [Abstract]

Available-for-sale Securities

As of August 1, 2020 and May 2, 2020, our available-for-sale securities consisted of the following:



	Amortized Cost		Unrealized Losses		Fair Value
Balance as of August 1, 2020
Certificates of deposit	$	1,230	$	—	$	1,230
	$	1,230	$	—	$	1,230
Balance as of May 2, 2020
Certificates of deposit	$	1,230	$	—	$	1,230
	$	1,230	$	—	$	1,230

Investments Classified by Contractual Maturity Date



	Less than 12 months		Total
Certificates of deposit	$	1,230	$	1,230
	$	1,230	$	1,230

Goodwill (Tables)

3 Months Ended

Aug. 01, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill related to each reportable segment for the three months ended August 1, 2020 were as follows:



	Live Events		Commercial		Transportation		International		Total
Balance as of May 2, 2020	$	2,266	$	3,144	$	38	$	2,295	$	7,743
Foreign currency translation	13		91		13		188		305
Balance as of August 1, 2020	$	2,279	$	3,235	$	51	$	2,483	$	8,048

Selected Financial Statement Data (Tables)

3 Months Ended

Aug. 01, 2020

Selected Financial Statement Data [Abstract]

Schedule of Inventory

Inventories consisted of the following:



	August 1, 2020		May 2, 2020
Raw materials	$	33,076	$	35,306
Work-in-process	9,943		12,102
Finished goods	38,416		39,395
	$	81,435	$	86,803

Schedule of Property and Equipment

Property and equipment, net consisted of the following:



	August 1, 2020		May 2, 2020
Land	$	2,183	$	2,183
Buildings	69,967		68,804
Machinery and equipment	105,188		104,157
Office furniture and equipment	6,174		6,151
Computer software and hardware	53,691		53,441
Equipment held for rental	287		287
Demonstration equipment	8,368		8,473
Transportation equipment	7,783		7,944
	253,641		251,440
Less accumulated depreciation	187,582		183,956
	$	66,059	$	67,484

Commitments and Contingencies (Tables)

3 Months Ended

Aug. 01, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability

Changes in our warranty obligation for the three months ended August 1, 2020 consisted of the following:



	August 1, 2020
Beginning accrued warranty obligations	$	25,624
Warranties issued during the period	2,800
Settlements made during the period	(1,056		)
Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations	(308		)
Ending accrued warranty obligations	$	27,060

Long-term Purchase Commitment

As of August 1, 2020, we were obligated under the following unconditional purchase commitments:



Fiscal years ending	Amount
2021	$	2,831
2022	2,750
2023	1,755
2024	148
2025	113
Thereafter	40
	$	7,637

Fair Value Measurement (Tables)

3 Months Ended

Aug. 01, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value



	Fair Value Measurements
	Level 1		Level 2			Level 3			Total
Balance as of August 1, 2020
Cash and cash equivalents	$	44,609	$	—		$	—		$	44,609
Restricted cash	96		—			—			96
Available-for-sale securities:
Certificates of deposit	—		1,230			—			1,230
Derivatives - asset position	—		36			—			36
Derivatives - liability position	—		(242		)	—			(242		)
Acquisition-related contingent consideration	—		—			(401		)	(401		)
	$	44,705	$	1,024		$	(401	)	$	45,328
Balance as of May 2, 2020
Cash and cash equivalents	$	40,398	$	—		$	—		$	40,398
Restricted cash	14		—			—			14
Available-for-sale securities:
Certificates of deposit	—		1,230			—			1,230
Derivatives - asset position	—		261			—			261
Derivatives - liability position	—		(17		)	—			(17		)
Acquisition-related contingent consideration	—		—			(761		)	(761		)
	$	40,412	$	1,474		$	(761	)	$	41,125

Rollforward of Level 3 Contingent Consideration Liabilities

A roll forward of the Level 3 contingent liabilities, both short- and long-term, for the three months ended August 1, 2020 is as follows:



Acquisition-related contingent consideration as of May 2, 2020	$	761
Additions	33
Settlements	(400		)
Interest	7
Acquisition-related contingent consideration as of August 1, 2020	$	401

Derivative Financial Instruments (Tables)

3 Months Ended

Aug. 01, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The foreign currency exchange contracts in aggregated notional amounts in place to exchange U.S. dollars at August 1, 2020 and May 2, 2020 were as follows:



	August 1, 2020		May 2, 2020
	U.S. Dollars	Foreign Currency	U.S. Dollars	Foreign Currency
Foreign Currency Exchange Forward Contracts:
U.S. Dollars/Australian Dollars	5,406	7,839	2,235	3,323
U.S. Dollars/Canadian Dollars	—	—	452	648
U.S. Dollars/British Pounds	2,149	1,650	3,160	2,424
U.S. Dollars/Euros	—	—	1,881	1,689

Basis of Presentation (Details) $ in Thousands	3 Months Ended
Basis of Presentation (Details) $ in Thousands	Aug. 01, 2020 USD ($)	May 02, 2020 USD ($)	Aug. 03, 2019 USD ($)	Apr. 27, 2019 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 44,609	$ 40,398	$ 20,762
Restricted cash	96	14	339
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows	44,705	$ 40,412	$ 21,101	$ 35,742
Long-term Line of Credit	$ 15,000
Number of employees, voluntary retirement	60
Voluntary retirement cost	$ 931
Number of employees, reduction in force	108
Severance Costs	$ 1,426
Governmental Wage Subsidy	812
Balance as of May 2, 2020	2,828
Charged to costs and expenses	735
Deductions (1)	(241)
Balance as of August 1, 2020	$ 3,322

Investments in Affiliates (Details) - USD ($) $ in Thousands	3 Months Ended
	Aug. 01, 2020	Aug. 03, 2019	May 02, 2020
Equity and Cost Method Investments [Abstract]
Equity Method Investments	$ 16,728		$ 17,257
Equity in loss of affiliate	$ (529)	$ (118)

Earnings Per Share EPS - Reconciliation of Income (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Aug. 01, 2020	Aug. 03, 2019
Net income
Basic earnings per share	$ 7,467	$ 7,030
Dilution associated with stock compensation plans	0	0
Diluted earnings per share	$ 7,467	$ 7,030
Shares
Basic earnings per share (in shares)	44,654	45,089
Dilution associated with stock compensation plans (in shares)	97	172
Diluted earnings per share (in shares)	44,751	45,261
Per share income
Basic earnings per share (in dollars per share)	$ 0.17	$ 0.16
Dilution associated with stock compensation plans (in dollars per share)	0	0
Diluted earnings per share (in dollars per share)	$ 0.17	$ 0.16

Earnings Per Share EPS - Antidilutive Shares Excluded (Details) - Stock Options - $ / shares shares in Thousands	3 Months Ended
	Aug. 01, 2020	Aug. 03, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share (in shares)	2,119	2,197
Antidilutive securities excluded from computation of earnings per share, weighted average exercise price (dollars per share)	$ 9.96	$ 10.03

Revenue Recognition Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Aug. 01, 2020	Aug. 03, 2019
Disaggregation of Revenue [Line Items]
Disaggregated revenue	$ 143,644	$ 180,256
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	64,027	76,307
Transferred over Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	79,617	103,949
Commercial
Disaggregation of Revenue [Line Items]
Disaggregated revenue	34,506	44,035
Commercial \| Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	22,892	27,703
Commercial \| Transferred over Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	11,614	16,332
Live Events
Disaggregation of Revenue [Line Items]
Disaggregated revenue	51,474	59,306
Live Events \| Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	6,214	9,120
Live Events \| Transferred over Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	45,260	50,186
High School Park and Recreation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	28,943	30,465
High School Park and Recreation \| Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	19,368	22,599
High School Park and Recreation \| Transferred over Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	9,575	7,866
Transportation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	14,498	19,018
Transportation \| Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	6,374	6,697
Transportation \| Transferred over Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	8,124	12,321
International
Disaggregation of Revenue [Line Items]
Disaggregated revenue	14,223	27,432
International \| Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	9,179	10,188
International \| Transferred over Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	5,044	17,244
Unique Configuration
Disaggregation of Revenue [Line Items]
Disaggregated revenue	70,106	92,157
Unique Configuration \| Commercial
Disaggregation of Revenue [Line Items]
Disaggregated revenue	8,727	12,965
Unique Configuration \| Live Events
Disaggregation of Revenue [Line Items]
Disaggregated revenue	41,975	45,587
Unique Configuration \| High School Park and Recreation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	7,668	6,030
Unique Configuration \| Transportation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	7,724	11,897
Unique Configuration \| International
Disaggregation of Revenue [Line Items]
Disaggregated revenue	4,012	15,678
Limited Configuration
Disaggregation of Revenue [Line Items]
Disaggregated revenue	63,581	75,265
Limited Configuration \| Commercial
Disaggregation of Revenue [Line Items]
Disaggregated revenue	22,555	27,235
Limited Configuration \| Live Events
Disaggregation of Revenue [Line Items]
Disaggregated revenue	5,419	7,713
Limited Configuration \| High School Park and Recreation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	20,688	23,800
Limited Configuration \| Transportation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	6,266	6,587
Limited Configuration \| International
Disaggregation of Revenue [Line Items]
Disaggregated revenue	8,653	9,930
Service and Other
Disaggregation of Revenue [Line Items]
Disaggregated revenue	9,957	12,834
Service and Other \| Commercial
Disaggregation of Revenue [Line Items]
Disaggregated revenue	3,224	3,835
Service and Other \| Live Events
Disaggregation of Revenue [Line Items]
Disaggregated revenue	4,080	6,006
Service and Other \| High School Park and Recreation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	587	635
Service and Other \| Transportation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	508	534
Service and Other \| International
Disaggregation of Revenue [Line Items]
Disaggregated revenue	$ 1,558	$ 1,824

Revenue Recognition Contract with Customer, Asset and Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Aug. 01, 2020	May 02, 2020
Revenue from Contract with Customer [Abstract]
Contract assets	$ 33,261	$ 35,467
Contract liabilities - current	50,159	50,897
Contract liabilities - noncurrent	10,715	$ 10,707
Dollar Change
Contract assets	(2,206)
Contract liabilities - current	(738)
Contract liabilities - noncurrent	$ 8
Change in Contract with Customer, Asset and Liability, Percentage [Abstract]
Contract assets percent change	(6.20%)
Contract liabilities, current, percent change	(1.40%)
Contract liabilities, noncurrent, percent change	0.10%
Revenue recognized related to contract liability	$ 30,358

Revenue Recognition Deferred Revenue, by Arrangement (Details) $ in Thousands	3 Months Ended
	Aug. 01, 2020 USD ($)
Revenue from Contract with Customer [Abstract]
Balance at beginning of period	$ 24,490
New contracts sold	8,188
Less: reductions for revenue recognized	9,115
Foreign currency translation and other	250
Balance at end of period	$ 23,813

Revenue Recognition Remaining Performance Obligations (Details) $ in Thousands	Aug. 01, 2020 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 245,756
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, service agreements	54,039
Remaining performance obligation, products	191,717
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-08-02
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 204,878
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation recognition period	12 months

Segment Disclosure - Net Income by Segment (Details) $ in Thousands	3 Months Ended
	Aug. 01, 2020 USD ($) segment	Aug. 03, 2019 USD ($)
Segment Reporting Information
Number of business units \| segment	5
Net sales	$ 143,644	$ 180,256
Gross profit	35,761	45,505
Non-allocated operating expenses:
General and administrative	7,124	9,093
Product design and development	7,532	10,500
Operating income	9,549	7,615
Nonoperating (expense) income:
Interest income	85	269
Interest expense	(73)	(35)
Other (expense) income, net	(627)	193
Income before income taxes	8,934	8,042
Income tax expense	1,467	1,012
Net income	7,467	7,030
Operating Segments
Segment Reporting Information
Net sales	143,644	180,256
Gross profit	35,761	45,505
Contribution Margin	24,205	27,208
Depreciation and amortization
Depreciation, amortization, and impairment	4,337	4,383
Operating Segments \| Commercial
Segment Reporting Information
Net sales	34,506	44,035
Gross profit	7,742	9,218
Contribution Margin	4,441	4,084
Depreciation and amortization
Depreciation, amortization, and impairment	772	974
Operating Segments \| Live Events
Segment Reporting Information
Net sales	51,474	59,306
Gross profit	9,354	12,737
Contribution Margin	7,138	8,872
Depreciation and amortization
Depreciation, amortization, and impairment	1,451	1,398
Operating Segments \| High School Park and Recreation
Segment Reporting Information
Net sales	28,943	30,465
Gross profit	10,476	10,187
Contribution Margin	7,915	6,592
Depreciation and amortization
Depreciation, amortization, and impairment	496	512
Operating Segments \| Transportation
Segment Reporting Information
Net sales	14,498	19,018
Gross profit	5,143	6,754
Contribution Margin	4,381	5,452
Depreciation and amortization
Depreciation, amortization, and impairment	237	264
Operating Segments \| International
Segment Reporting Information
Net sales	14,223	27,432
Gross profit	3,046	6,609
Contribution Margin	330	2,208
Depreciation and amortization
Depreciation, amortization, and impairment	693	524
Operating Segments \| Unallocated
Depreciation and amortization
Depreciation, amortization, and impairment	$ 688	$ 711

Segment Disclosure - Net Sales and Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Aug. 01, 2020	Aug. 03, 2019	May 02, 2020
Net sales:
Net sales	$ 143,644	$ 180,256
Long-lived assets:
Long-lived assets	66,059		$ 67,484
United States
Net sales:
Net sales	128,069	149,460
Long-lived assets:
Long-lived assets	56,822		58,422
Outside United States
Net sales:
Net sales	15,575	$ 30,796
Long-lived assets:
Long-lived assets	$ 9,237		$ 9,062

Marketable Securities - Available-for-sale Securities (Details) - USD ($) $ in Thousands	Aug. 01, 2020	May 02, 2020
Schedule of Available-for-sale Securities
Amortized Cost	$ 1,230	$ 1,230
Unrealized Losses	0	0
Fair Value	1,230	1,230
Certificates of deposit
Schedule of Available-for-sale Securities
Amortized Cost	1,230	1,230
Unrealized Losses	0	0
Fair Value	$ 1,230	$ 1,230

Marketable Securities - Available-for-sale by Maturity Date (Details) $ in Thousands	Aug. 01, 2020 USD ($)
Schedule of Available-for-sale Securities
Less than 12 months	$ 1,230
Total	1,230
Certificates of deposit
Schedule of Available-for-sale Securities
Less than 12 months	1,230
Total	$ 1,230

Goodwill (Details) $ in Thousands	3 Months Ended
Goodwill (Details) $ in Thousands	Aug. 01, 2020 USD ($)
Goodwill
Balance as of May 2, 2020	$ 7,743
Foreign currency translation	305
Balance as of August 1, 2020	8,048
Live Events
Goodwill
Balance as of May 2, 2020	2,266
Foreign currency translation	13
Balance as of August 1, 2020	2,279
Commercial
Goodwill
Balance as of May 2, 2020	3,144
Foreign currency translation	91
Balance as of August 1, 2020	3,235
Transportation
Goodwill
Balance as of May 2, 2020	38
Foreign currency translation	13
Balance as of August 1, 2020	51
International
Goodwill
Balance as of May 2, 2020	2,295
Foreign currency translation	188
Balance as of August 1, 2020	$ 2,483

Selected Financial Statement Data Inventory (Details) - USD ($) $ in Thousands	Aug. 01, 2020	May 02, 2020
Selected Financial Statement Data [Abstract]
Raw materials	$ 33,076	$ 35,306
Work-in-process	9,943	12,102
Finished goods	38,416	39,395
Inventories	$ 81,435	$ 86,803

Selected Financial Statement Data Property and Equipment (Details) - USD ($) $ in Thousands	Aug. 01, 2020	May 02, 2020
Property, Plant and Equipment [Line Items]
Land	$ 2,183	$ 2,183
Buildings	69,967	68,804
Machinery and equipment	105,188	104,157
Office furniture and equipment	6,174	6,151
Computer software and hardware	53,691	53,441
Equipment held for rental	287	287
Demonstration equipment	8,368	8,473
Transportation equipment	7,783	7,944
Property, Plant and Equipment, Gross	253,641	251,440
Less accumulated depreciation	187,582	183,956
Property and equipment, net	$ 66,059	$ 67,484

Receivables (Details) - USD ($) $ in Thousands	3 Months Ended
Receivables (Details) - USD ($) $ in Thousands	Aug. 01, 2020	May 02, 2020
Receivables
Allowance for doubtful accounts	$ 3,322	$ 2,828
Retainage on construction-type contracts, expected to be collected in one year	741	687
Financing Receivable
Receivables
Long-term contracts and lease receivables, present value	4,045	4,633
Long-term contracts and lease receivables, face amount	$ 4,327	$ 5,166
Financing Receivable \| Minimum
Receivables
Contract and lease receivables annual interest rates	5.00%
Financing Receivable \| Maximum
Receivables
Contract and lease receivables annual interest rates	9.00%

Share Repurchase Program (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Aug. 01, 2020	Aug. 03, 2019	Jun. 17, 2016
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount			$ 40,000
Stock Repurchased During Period, Shares	0	187
Stock Repurchased During Period, Value		$ 1,187
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 32,539

Commitments and Contingencies - Litigation (Details) - USD ($) $ in Thousands	Aug. 01, 2020	May 02, 2020
Commitments and Contingencies Disclosure [Abstract]
Loss Contingency, Estimate of Possible Loss	$ 2,118	$ 2,072

Commitments and Contingencies - Guarantees and Warranties (Details) $ in Thousands	3 Months Ended
	Aug. 01, 2020 USD ($)
Movement in Standard Product Warranty Accrual
Beginning accrued warranty obligations	$ 25,624
Warranties issued during the period	2,800
Settlements made during the period	(1,056)
Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations	(308)
Ending accrued warranty obligations	27,060
Performance guarantees \| Letter of credit and bank guarantees agreements
Guarantees:
Performance guarantees outstanding	14,788
Performance guarantees \| Surety bonds
Guarantees:
Performance guarantees outstanding	$ 35,079

Commitments and Contingencies - Purchase Commitments (Details) $ in Thousands	Aug. 01, 2020 USD ($)
Purchase Obligation, Fiscal Year Maturity
2021	$ 2,831
2022	2,750
2023	1,755
2024	148
2025	113
Thereafter	40
Total	$ 7,637

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Aug. 01, 2020	Aug. 03, 2019
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	16.40%	12.60%
Unrecognized tax benefits that would affect our effective tax rate if recognized	$ 723

Fair Value Measurement (Details) - USD ($) $ in Thousands	Aug. 01, 2020	May 02, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	$ 1,230	$ 1,230
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	1,230	1,230
Reported Value Measurement [Member] \| Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	44,609	40,398
Restricted cash	96	14
Derivatives - asset position	36	261
Derivatives - liability position	(242)	(17)
Acquisition-related contingent consideration	(401)	(761)
Assets (Liabilities), net	45,328	41,125
Reported Value Measurement [Member] \| Recurring Basis \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	1,230	1,230
Estimate of Fair Value Measurement [Member] \| Recurring Basis \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	44,609	40,398
Restricted cash	96	14
Derivatives - asset position	0	0
Derivatives - liability position	0	0
Acquisition-related contingent consideration	0	0
Assets (Liabilities), net	44,705	40,412
Estimate of Fair Value Measurement [Member] \| Recurring Basis \| Level 1 \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	0	0
Estimate of Fair Value Measurement [Member] \| Recurring Basis \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	0	0
Restricted cash	0	0
Derivatives - asset position	36	261
Derivatives - liability position	(242)	(17)
Acquisition-related contingent consideration	0	0
Assets (Liabilities), net	1,024	1,474
Estimate of Fair Value Measurement [Member] \| Recurring Basis \| Level 2 \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	1,230	1,230
Estimate of Fair Value Measurement [Member] \| Recurring Basis \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	0	0
Restricted cash	0	0
Derivatives - asset position	0	0
Derivatives - liability position	0	0
Acquisition-related contingent consideration	(401)	(761)
Assets (Liabilities), net	(401)	(761)
Estimate of Fair Value Measurement [Member] \| Recurring Basis \| Level 3 \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	$ 0	$ 0

Fair Value Measurement - Roll Forward of the Level 3 Contingent Consideration Liability (Details) - Estimate of Fair Value Measurement [Member] - Level 3 - Recurring Basis - Contingent Consideration Liability $ in Thousands	3 Months Ended
	Aug. 01, 2020 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Acquisition-related contingent consideration as of May 2, 2020	$ 761
Additions	33
Settlements	(400)
Interest	7
Acquisition-related contingent consideration as of August 1, 2020	$ 401

Derivative Financial Instruments (Details) € in Thousands, £ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands	3 Months Ended
	Aug. 01, 2020 CAD ($)	Aug. 01, 2020 AUD ($)	Aug. 01, 2020 USD ($)	Aug. 01, 2020 EUR (€)	Aug. 01, 2020 GBP (£)	May 02, 2020 CAD ($)	May 02, 2020 AUD ($)	May 02, 2020 USD ($)	May 02, 2020 EUR (€)	May 02, 2020 GBP (£)
Derivative
Derivative term (months)	17 months
U.S. Dollars/Australian Dollars \| Not Designated as Hedging Instrument
Derivative
Foreign currency exchange forward contracts		$ 7,839	$ 5,406				$ 3,323	$ 2,235
U.S. Dollars/Canadian Dollars \| Not Designated as Hedging Instrument
Derivative
Foreign currency exchange forward contracts	$ 0		0			$ 648		452
U.S. Dollars/British Pounds \| Not Designated as Hedging Instrument
Derivative
Foreign currency exchange forward contracts			2,149		£ 1,650			3,160		£ 2,424
U.S. Dollars/Euro \| Not Designated as Hedging Instrument
Derivative
Foreign currency exchange forward contracts			0	€ 0				1,881	€ 1,689
Estimate of Fair Value Measurement [Member] \| Recurring Basis \| Level 2
Derivative
Derivatives - currency forward contract, asset			36					261
Derivatives - currency forward contracts, liability			$ (242)					$ (17)