0000915779-20-000087 | 10-Q | XBRL Viewer

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Cover Page - shares	6 Months Ended
Cover Page - shares	Oct. 31, 2020	Nov. 30, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 31, 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		62,750,443
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	Q2
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	Oct. 31, 2020	May 02, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 69,836	$ 40,398
Restricted cash	3,617	14
Marketable securities	983	1,230
Accounts receivable, net	74,682	72,577
Inventories	71,428	86,803
Contract assets	26,707	35,467
Current maturities of long-term receivables	2,439	3,519
Prepaid expenses and other current assets	7,650	9,629
Income tax receivables	129	548
Property and equipment and other assets available for sale	1,953	1,817
Total current assets	259,424	252,002
Property and equipment, net	64,475	67,484
Long-term receivables, less current maturities	594	1,114
Goodwill	8,050	7,743
Intangibles, net	2,702	3,354
Investment in affiliates and other assets	24,943	27,683
Deferred income taxes	13,323	13,271
TOTAL ASSETS	373,511	372,651
CURRENT LIABILITIES:
Accounts payable	37,274	47,834
Contract liabilities	47,107	50,897
Accrued expenses	32,681	36,626
Warranty obligations	10,383	9,764
Income taxes payable	2,949	844
Total current liabilities	130,394	145,965
Long-term warranty obligations	16,217	15,860
Long-term contract liabilities	10,741	10,707
Other long-term obligations	24,586	22,105
Long-term income taxes payable	697	582
Deferred income taxes	471	452
Total long-term liabilities	52,712	49,706
SHAREHOLDERS' EQUITY:
Common Stock, no par value, authorized 115,000,000 shares; 46,094,125 and 45,913,209 shares issued at October 31, 2020 and May 2, 2020, respectively	60,010	60,010
Additional paid-in capital	45,575	44,627
Retained earnings	95,973	85,090
Treasury Stock, at cost, 1,297,409 and 1,343,281 shares at October 31, 2020 and May 2, 2020, respectively	(7,297)	(7,470)
Accumulated other comprehensive loss	(3,856)	(5,277)
TOTAL SHAREHOLDERS' EQUITY	190,405	176,980
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 373,511	$ 372,651

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Oct. 31, 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)	46,094,125	45,913,209
Treasury stock, at cost (in shares)	1,297,409	1,343,281

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Nov. 02, 2019	Oct. 31, 2020	Nov. 02, 2019
Income Statement [Abstract]
Net sales	$ 127,367	$ 174,911	$ 271,011	$ 355,167
Cost of sales	94,053	134,824	201,936	269,575
Gross profit	33,314	40,087	69,075	85,592
Operating expenses:
Selling	12,654	16,177	24,210	34,474
General and administrative	7,264	8,965	14,388	18,058
Product design and development	6,737	10,121	14,269	20,621
Total operating expenses	26,655	35,263	52,867	73,153
Operating income	6,659	4,824	16,208	12,439
Nonoperating (expense) income:
Interest income	66	162	151	431
Interest expense	(84)	(31)	(157)	(66)
Other (expense) income, net	(837)	(514)	(1,464)	(321)
Income before income taxes	5,804	4,441	14,738	12,483
Income tax expense (benefit)	2,388	(2,833)	3,855	(1,821)
Net income	$ 3,416	$ 7,274	$ 10,883	$ 14,304
Weighted average shares outstanding:
Basic (in shares)	44,893	45,115	44,808	45,114
Diluted (in shares)	44,977	45,267	44,947	45,361
Earnings per share:
Basic (in dollars per share)	$ 0.08	$ 0.16	$ 0.24	$ 0.32
Diluted (in dollars per share)	$ 0.08	$ 0.16	$ 0.24	$ 0.32

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Nov. 02, 2019	Oct. 31, 2020	Nov. 02, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 3,416	$ 7,274	$ 10,883	$ 14,304
Other comprehensive income (loss):
Cumulative translation adjustments	384	146	1,421	(380)
Unrealized gain (loss) on available-for-sale securities, net of tax	0	3	0	44
Total other comprehensive income (loss), net of tax	384	149	1,421	(336)
Comprehensive income	$ 3,800	$ 7,423	$ 12,304	$ 13,968

- 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 Apr. 27, 2019	187,663	57,699	42,561	93,593	(1,834)	(4,356)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	14,304
Cumulative translation adjustments	(380)
Unrealized gain (loss) on available-for-sale securities, net of tax	44
Balance at End of Period at Nov. 02, 2019	198,011	59,276	43,546	103,397	(3,516)	(4,692)
Balance at Beginning of Period at Aug. 03, 2019	192,193	58,478	43,204	98,373	(3,021)	(4,841)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	7,274			7,274
Cumulative translation adjustments	146					146
Unrealized gain (loss) on available-for-sale securities, net of tax	3					3
Share-based compensation	541		541
Tax payments related to RSU issuances	(199)		(199)
Employee savings plan activity	798	798
Dividends paid	(2,250)			(2,250)
Treasury stock purchase	495				495
Balance at End of Period at Nov. 02, 2019	198,011	59,276	43,546	103,397	(3,516)	(4,692)
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
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)
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	10,883
Cumulative translation adjustments	1,421
Unrealized gain (loss) on available-for-sale securities, net of tax	0
Balance at End of Period at Oct. 31, 2020	190,405	60,010	45,575	95,973	(7,297)	(3,856)
Balance at Beginning of Period at Aug. 01, 2020	186,222	60,010	45,192	92,557	(7,297)	(4,240)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,416			3,416
Cumulative translation adjustments	384					384
Unrealized gain (loss) on available-for-sale securities, net of tax	0
Share-based compensation	508		508
Tax payments related to RSU issuances	(125)		(125)
Balance at End of Period at Oct. 31, 2020	$ 190,405	$ 60,010	$ 45,575	$ 95,973	$ (7,297)	$ (3,856)

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Oct. 31, 2020	Aug. 01, 2020	Nov. 02, 2019	Aug. 03, 2019
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share	$ 0.00	$ 0.00	$ 0.05	$ 0.05

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Oct. 31, 2020	Nov. 02, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 10,883	$ 14,304
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	8,564	8,724
(Gain) loss on sale of property, equipment and other assets	(162)	30
Share-based compensation	1,047	1,184
Equity in loss of affiliates	1,145	241
Provision for doubtful accounts	153	(535)
Deferred income taxes, net	2	(64)
Change in operating assets and liabilities	18,343	(34,156)
Net cash provided by (used in) operating activities	39,975	(10,272)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(5,776)	(9,768)
Proceeds from sales of property, equipment and other assets	341	149
Proceeds from sales or maturities of marketable securities	247	22,775
Purchases of and loans to equity investment	(903)	(896)
Net cash (used in) provided by investing activities	(6,091)	12,260
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on long-term obligations	(220)	(1,931)
Dividends paid	0	(4,500)
Payments for common shares repurchased	0	1,682
Tax payments related to RSU issuances	125	199
Net cash used in financing activities	(345)	(8,312)
EFFECT OF EXCHANGE RATE CHANGES	(498)	(94)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	33,041	(6,418)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
Beginning of period	40,412	35,742
End of period	73,453	29,324
Cash paid (received) for:
Interest	113	117
Income taxes, net of refunds	1,171	1,051
Supplemental schedule of non-cash investing and financing activities:
Purchases of property and equipment included in accounts payable	660	1,469
Contributions of common stock under the ESPP	$ 0	$ 1,577

Basis of Presentation

6 Months Ended

Oct. 31, 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 of America ("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 ending May 1, 2021 will consist of 52 weeks and the fiscal year ended May 2, 2020 was a 53-week year; therefore, the six months ended October 31, 2020 contains operating results for 26 weeks while the six months ended November 2, 2019 contains operating results for 27 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 statements of cash flows. We have bank guarantees that are secured with cash collateral which is maintained in the restricted cash account.



	October 31, 2020		November 2, 2019
Cash and cash equivalents	$	69,836	$	29,265
Restricted cash	3,617		59
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows	$	73,453	$	29,324

Other Business Developments - Coronavirus Pandemic

During the first six months 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, have reduced executive pay and board member compensation, and have or are continuing to institute 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 help to preserve our ability to borrow for liquidity needs and position us well for 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 six months of fiscal 2021, we conducted two reductions in force ("RIF") to adjust our capacity and reduce on-going expenses due to the reduced revenue and uncertainties created by the COVID-19 pandemic. During the first quarter of fiscal 2021, 60 employees agreed to participate in the Offering and completed employment. The approximate cost of this Offering was $931 during the first quarter of fiscal 2021. Under the RIF, employment was terminated with 108 employees with severance totaling $1,426 during the first quarter of fiscal 2021 and 150 employees with severance totaling $2,742 during the second quarter of fiscal 2021.

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. We received governmental wage subsidies of $812 during the first quarter of fiscal 2021 and $566 during the second quarter of fiscal 2021 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. Under the Coronavirus Aid, Relief, and Economic Security Act, we have elected to defer payments of the employer portion of social security taxes during the payroll tax deferral period. The payroll tax deferral period ends on December 31, 2020. As of October 31, 2020 the total amount of such deferral was $3,976, which is included in the "Other long-term obligations" line item in our condensed consolidated balance sheet. Per the terms of the deferral program, 50 percent of the deferred amount is due on December 31, 2021 with the remaining 50 percent due on December 31, 2022.

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. 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. 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	1,428
Deductions (1)	(1,040		)
Balance as of October 31, 2020	$	3,216

(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 October 31, 2020.

Investments in Affiliates Investment in Affiliates	6 Months Ended
Investments in Affiliates Investment in Affiliates	Oct. 31, 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 $16,112 and $17,257 at October 31, 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 six months ended October 31, 2020 and November 2, 2019, our share of the losses of our affiliates was $1,145 and $241, respectively. We purchased services for research and development activities from our equity method investments. The total of these related party transactions was $560 for the six months ended October 31, 2020, which was included in the "Product design and development" line item in in our condensed consolidated statement of operations and remains unpaid and is included in the "Accounts payable" line item in our condensed consolidated balance sheet.

Earnings Per Share EPS

6 Months Ended

Oct. 31, 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 and six months ended October 31, 2020 and November 2, 2019:



	Net income		Shares	Per share income
For the three months ended October 31, 2020
Basic earnings per share	$	3,416	44,893	$	0.08
Dilution associated with stock compensation plans	—		84	—
Diluted earnings per share	$	3,416	44,977	$	0.08
For the three months ended November 2, 2019
Basic earnings per share	$	7,274	45,115	$	0.16
Dilution associated with stock compensation plans	—		152	—
Diluted earnings per share	$	7,274	45,267	$	0.16
For the six months ended October 31, 2020
Basic earnings per share	$	10,883	44,808	$	0.24
Dilution associated with stock compensation plans	—		139	—
Diluted earnings per share	$	10,883	44,947	$	0.24
For the six months ended November 2, 2019
Basic earnings per share	$	14,304	45,114	$	0.32
Dilution associated with stock compensation plans	—		247	—
Diluted earnings per share	$	14,304	45,361	$	0.32

Options outstanding to purchase 2,348 shares of common stock with a weighted average exercise price of $9.28 for the three months ended October 31, 2020 and 2,282 shares of common stock with a weighted average exercise price of $9.90 for the three months ended November 2, 2019 were not included in the computation of diluted earnings per share because the effects would be anti-dilutive.

Options outstanding to purchase 2,233 shares of common stock with a weighted average exercise price of $9.61 for the six months ended October 31, 2020 and 2,238 shares of common stock with a weighted average exercise price of $9.97 for the six months ended November 2, 2019 were not included in the computation of diluted earnings per share because the effects would be anti-dilutive.

Revenue Recognition Revenue Recognition

6 Months Ended

Oct. 31, 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 October 31, 2020
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	3,508	$	27,302	$	5,091	$	8,975	$	6,367	$	51,243
Limited configuration	22,611		4,611		21,696		5,825		8,224		62,967
Service and other	4,237		5,909		791		523		1,697		13,157
	$	30,356	$	37,822	$	27,578	$	15,323	$	16,288	$	127,367
Timing of revenue recognition
Goods/services transferred at a point in time	$	23,226	$	6,736	$	19,718	$	5,930	$	8,468	$	64,078
Goods/services transferred over time	7,130		31,086		7,860		9,393		7,820		63,289
	$	30,356	$	37,822	$	27,578	$	15,323	$	16,288	$	127,367

	Six Months Ended October 31, 2020
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	12,235	$	69,277	$	12,759	$	16,699	$	10,379	$	121,349
Limited configuration	45,166		10,030		42,384		12,091		16,877		126,548
Service and other	7,461		9,989		1,378		1,031		3,255		23,114
	$	64,862	$	89,296	$	56,521	$	29,821	$	30,511	$	271,011
Timing of revenue recognition
Goods/services transferred at a point in time	$	46,118	$	12,950	$	39,086	$	12,304	$	17,647	$	128,105
Goods/services transferred over time	18,744		76,346		17,435		17,517		12,864		142,906
	$	64,862	$	89,296	$	56,521	$	29,821	$	30,511	$	271,011



	Three Months Ended November 2, 2019
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	9,007	$	41,413	$	5,186	$	12,419	$	10,542	$	78,567
Limited configuration	26,654		11,513		24,127		7,383		13,124		82,801
Service and other	3,990		6,393		880		528		1,752		13,543
	$	39,651	$	59,319	$	30,193	$	20,330	$	25,418	$	174,911
Timing of revenue recognition
Goods/services transferred at a point in time	$	27,304	$	13,169	$	22,112	$	7,521	$	13,500	$	83,606
Goods/services transferred over time	12,347		46,150		8,081		12,809		11,918		91,305
	$	39,651	$	59,319	$	30,193	$	20,330	$	25,418	$	174,911

	Six Months Ended November 2, 2019
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	21,972	$	87,000	$	11,216	$	24,316	$	26,220	$	170,724
Limited configuration	53,889		19,226		47,927		13,970		23,054		158,066
Service and other	7,825		12,399		1,515		1,062		3,576		26,377
	$	83,686	$	118,625	$	60,658	$	39,348	$	52,850	$	355,167
Timing of revenue recognition
Goods/services transferred at a point in time	$	55,007	$	22,289	$	44,711	$	14,218	$	23,688	$	159,913
Goods/services transferred over time	28,679		96,336		15,947		25,130		29,162		195,254
	$	83,686	$	118,625	$	60,658	$	39,348	$	52,850	$	355,167

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 customers in excess of revenue recognized to date.

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



	October 31, 2020		May 2, 2020		Dollar Change			Percent Change
Contract assets	$	26,707	$	35,467	$	(8,760	)	(24.7	)%
Contract liabilities - current	47,107		50,897		(3,790		)	(7.4	)
Contract liabilities - noncurrent	10,741		10,707		34			0.3

The changes in our contract assets and contract liabilities from May 2, 2020 to October 31, 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 six months ended October 31, 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:



	October 31, 2020
Balance at beginning of period	$	24,490
New contracts sold	20,756
Less: reductions for revenue recognized	(20,290		)
Foreign currency translation and other	560
Balance at end of period	$	25,516

As of October 31, 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 six months ended October 31, 2020, we recognized revenue of $37,973 related to our contract liabilities as of May 2, 2020.

Remaining performance obligations

As of October 31, 2020, the aggregate amount of the transaction price allocated to the remaining performance obligations was $254,253. We expect approximately $211,663 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 October 31, 2020 are $200,505 and $53,748, 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

6 Months Ended

Oct. 31, 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 (benefit) 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						Six Months Ended
	October 31, 2020			November 2, 2019			October 31, 2020			November 2, 2019
Net sales:
Commercial	$	30,356		$	39,651		$	64,862		$	83,686
Live Events	37,822			59,319			89,296			118,625
High School Park and Recreation	27,578			30,193			56,521			60,658
Transportation	15,323			20,330			29,821			39,348
International	16,288			25,418			30,511			52,850
	127,367			174,911			271,011			355,167

Gross profit:
Commercial	8,578			7,862			16,320			17,080
Live Events	7,300			11,934			16,654			24,671
High School Park and Recreation	8,497			9,224			18,973			19,411
Transportation	5,312			7,003			10,455			13,757
International	3,627			4,064			6,673			10,673
	33,314			40,087			69,075			85,592

Contribution margin: (1)
Commercial	4,781			2,853			9,222			6,937
Live Events	4,881			8,362			12,019			17,234
High School Park and Recreation	5,951			5,988			13,866			12,580
Transportation	4,446			5,895			8,827			11,347
International	601			812			931			3,020
	20,660			23,910			44,865			51,118

Non-allocated operating expenses:
General and administrative	7,264			8,965			14,388			18,058
Product design and development	6,737			10,121			14,269			20,621
Operating income	6,659			4,824			16,208			12,439

Nonoperating income (expense):
Interest income	66			162			151			431
Interest expense	(84		)	(31		)	(157		)	(66		)
Other (expense) income, net	(837		)	(514		)	(1,464		)	(321		)

Income before income taxes	5,804			4,441			14,738			12,483
Income tax expense (benefit)	2,388			(2,833		)	3,855			(1,821		)
Net income	$	3,416		$	7,274		$	10,883		$	14,304

Depreciation and amortization:
Commercial	$	721		$	895		$	1,493		$	1,869
Live Events	1,424			1,394			2,875			2,792
High School Park and Recreation	492			507			988			1,019
Transportation	234			252			471			516
International	701			563			1,394			1,087
Unallocated corporate depreciation	655			730			1,343			1,441
	$	4,227		$	4,341		$	8,564		$	8,724

(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				Six Months Ended
	October 31, 2020		November 2, 2019		October 31, 2020		November 2, 2019
Net sales:
United States	$	108,453	$	147,106	$	236,522	$	296,566
Outside United States	18,914		27,805		34,489		58,601
	$	127,367	$	174,911	$	271,011	$	355,167


	October 31, 2020		May 2, 2020
Property and equipment, net of accumulated depreciation:
United States	$	55,522	$	58,422
Outside United States	8,953		9,062
	$	64,475	$	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.

Goodwill

6 Months Ended

Oct. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Note 6. Goodwill

The changes in the carrying amount of goodwill related to each reportable segment for the six months ended October 31, 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	15		106		15		171		307
Balance as of October 31, 2020	$	2,281	$	3,250	$	53	$	2,466	$	8,050

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 are currently in the process of completing our annual analysis as of the first business day of our third quarter of fiscal 2021, which began 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. 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 second 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.

Receivables	6 Months Ended
Receivables	Oct. 31, 2020
Receivables [Abstract]
Receivables	Note 7. 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 $3,216 and $2,828 at October 31, 2020 and May 2, 2020, respectively. Included in accounts receivable as of October 31, 2020 and May 2, 2020 was $621 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 $3,033 and $4,633 as of October 31, 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 $3,192 as of October 31, 2020 and $5,166 as of May 2, 2020.

Financing Agreements (Notes)	6 Months Ended
Financing Agreements (Notes)	Oct. 31, 2020
Line of Credit Facility [Line Items]
Debt Disclosure [Text Block]	Note 8. Financing Agreements On November 15, 2019, we entered into an amendment to extend the maturity date of our credit agreement and a related revolving bank note from November 15, 2019 to November 15, 2022 and to modify certain other terms and financial covenants. 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. The revolving amount of the agreement and note remains at $35,000, including up to $20,000 for commercial and standby letters of credit. The credit agreement and amendments require us to be in compliance with certain financial ratios and other covenants and contain customary events of default, including failure to comply with covenants, failure to pay or discharge material judgments and taxes, bankruptcy, failure to pay loans and fees, and change of control. The occurrence of an event of default by us would permit the lenders to terminate their commitments and accelerate loans repayment, obtain securitized assets, and require collateralization of outstanding letters of credit. As of October 31, 2020, $15,000 had been advanced to us under the loan portion of the line of credit, and the balance of letters of credit outstanding was approximately $6,853. We are sometimes required to obtain bank guarantees or other financial instruments for display installations and utilize a global bank to provide such instruments. If we are unable to complete the installation work, our customer would draw on the banking arrangement, and the bank would subrogate its loss to Daktronics restricted cash accounts. As of October 31, 2020, we had $3,122 of such instruments outstanding. As of October 31, 2020, we were in compliance with all applicable bank loan covenants.

Share Repurchase Program Share Repurchase Program	6 Months Ended
Share Repurchase Program Share Repurchase Program	Oct. 31, 2020
Class of Stock Disclosures [Abstract]
Treasury Stock [Text Block]	Note 9. 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 six months ended October 31, 2020, we had no repurchases of shares of our outstanding common stock. During the six months ended November 2, 2019, we repurchased 270 shares of common stock at a total cost of $1,682. As of October 31, 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

6 Months Ended

Oct. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 10. Commitments and Contingencies

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

As of October 31, 2020 and May 2, 2020, $2,166 and $2,072, respectively, were included in the "Accrued expenses" line item in our condensed consolidated balance sheets for the 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 will 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 six months ended October 31, 2020 consisted of the following:



	October 31, 2020
Beginning accrued warranty obligations	$	25,624
Warranties issued during the period	5,001
Settlements made during the period	(2,817		)
Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations	(1,208		)
Ending accrued warranty obligations	$	26,600

Performance guarantees: We have entered into standby letters of credit, bank guarantees and surety bonds with financial institutions relating to the guarantee of our future performance on contracts, primarily construction-type contracts. As of October 31, 2020, we had outstanding letters of credit, bank guarantees and surety bonds in the amount of $6,853, $3,122 and $31,314, 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 October 31, 2020, we were not aware of any indemnification claim from a customer.

Income Taxes	6 Months Ended
Income Taxes	Oct. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 11. Income Taxes The provision for income taxes during interim reporting periods is calculated by applying an estimate of the annual effective tax rate to “ordinary” income or loss for the reporting period, adjusted for discrete items. Due to various factors, including our estimate of annual income, our effective tax rate is subject to fluctuation. Our effective tax rate for the three and six months ended October 31, 2020 was 41.1 percent and 26.2 percent, respectively, as compared to an effective tax rate benefit of 63.8 percent and 14.6 percent for the three and six months ended November 2, 2019. The change in the effective tax rates are primarily driven by a decrease in tax credits and other permanent differences as a percentage of estimated current fiscal year pre-tax income. 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 October 31, 2020, undistributed earnings of our foreign subsidiaries are considered to be reinvested indefinitely. Additionally, we had $697 of unrecognized tax benefits which would reduce our effective tax rate if recognized.

Fair Value Measurement

6 Months Ended

Oct. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurement

Note 12. 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 October 31, 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 October 31, 2020
Cash and cash equivalents	$	69,836	$	—		$	—		$	69,836
Restricted cash	3,617		—			—			3,617
Available-for-sale securities:
Certificates of deposit	—		983			—			983
Derivatives - asset position	—		41			—			41
Derivatives - liability position	—		(31		)	—			(31		)
Acquisition-related contingent consideration	—		—			(456		)	(456		)
	$	73,453	$	993		$	(456	)	$	73,990
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 six months ended October 31, 2020 is as follows:



Acquisition-related contingent consideration as of May 2, 2020	$	761
Additions	83
Settlements	(400		)
Interest	12
Acquisition-related contingent consideration as of October 31, 2020	$	456

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

Basis of Presentation (Policies)

6 Months Ended

Oct. 31, 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	1,428
Deductions (1)	(1,040		)
Balance as of October 31, 2020	$	3,216

(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 October 31, 2020.

Basis of Presentation (Tables)

6 Months Ended

Oct. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents [Table Text Block]



	October 31, 2020		November 2, 2019
Cash and cash equivalents	$	69,836	$	29,265
Restricted cash	3,617		59
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows	$	73,453	$	29,324

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	1,428
Deductions (1)	(1,040		)
Balance as of October 31, 2020	$	3,216

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

Earnings Per Share EPS (Tables)

6 Months Ended

Oct. 31, 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 and six months ended October 31, 2020 and November 2, 2019:



	Net income		Shares	Per share income
For the three months ended October 31, 2020
Basic earnings per share	$	3,416	44,893	$	0.08
Dilution associated with stock compensation plans	—		84	—
Diluted earnings per share	$	3,416	44,977	$	0.08
For the three months ended November 2, 2019
Basic earnings per share	$	7,274	45,115	$	0.16
Dilution associated with stock compensation plans	—		152	—
Diluted earnings per share	$	7,274	45,267	$	0.16
For the six months ended October 31, 2020
Basic earnings per share	$	10,883	44,808	$	0.24
Dilution associated with stock compensation plans	—		139	—
Diluted earnings per share	$	10,883	44,947	$	0.24
For the six months ended November 2, 2019
Basic earnings per share	$	14,304	45,114	$	0.32
Dilution associated with stock compensation plans	—		247	—
Diluted earnings per share	$	14,304	45,361	$	0.32

Revenue Recognition (Tables)

6 Months Ended

Oct. 31, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table presents our disaggregation of revenue by segments:



	Three Months Ended October 31, 2020
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	3,508	$	27,302	$	5,091	$	8,975	$	6,367	$	51,243
Limited configuration	22,611		4,611		21,696		5,825		8,224		62,967
Service and other	4,237		5,909		791		523		1,697		13,157
	$	30,356	$	37,822	$	27,578	$	15,323	$	16,288	$	127,367
Timing of revenue recognition
Goods/services transferred at a point in time	$	23,226	$	6,736	$	19,718	$	5,930	$	8,468	$	64,078
Goods/services transferred over time	7,130		31,086		7,860		9,393		7,820		63,289
	$	30,356	$	37,822	$	27,578	$	15,323	$	16,288	$	127,367

	Six Months Ended October 31, 2020
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	12,235	$	69,277	$	12,759	$	16,699	$	10,379	$	121,349
Limited configuration	45,166		10,030		42,384		12,091		16,877		126,548
Service and other	7,461		9,989		1,378		1,031		3,255		23,114
	$	64,862	$	89,296	$	56,521	$	29,821	$	30,511	$	271,011
Timing of revenue recognition
Goods/services transferred at a point in time	$	46,118	$	12,950	$	39,086	$	12,304	$	17,647	$	128,105
Goods/services transferred over time	18,744		76,346		17,435		17,517		12,864		142,906
	$	64,862	$	89,296	$	56,521	$	29,821	$	30,511	$	271,011



	Three Months Ended November 2, 2019
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	9,007	$	41,413	$	5,186	$	12,419	$	10,542	$	78,567
Limited configuration	26,654		11,513		24,127		7,383		13,124		82,801
Service and other	3,990		6,393		880		528		1,752		13,543
	$	39,651	$	59,319	$	30,193	$	20,330	$	25,418	$	174,911
Timing of revenue recognition
Goods/services transferred at a point in time	$	27,304	$	13,169	$	22,112	$	7,521	$	13,500	$	83,606
Goods/services transferred over time	12,347		46,150		8,081		12,809		11,918		91,305
	$	39,651	$	59,319	$	30,193	$	20,330	$	25,418	$	174,911

	Six Months Ended November 2, 2019
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	21,972	$	87,000	$	11,216	$	24,316	$	26,220	$	170,724
Limited configuration	53,889		19,226		47,927		13,970		23,054		158,066
Service and other	7,825		12,399		1,515		1,062		3,576		26,377
	$	83,686	$	118,625	$	60,658	$	39,348	$	52,850	$	355,167
Timing of revenue recognition
Goods/services transferred at a point in time	$	55,007	$	22,289	$	44,711	$	14,218	$	23,688	$	159,913
Goods/services transferred over time	28,679		96,336		15,947		25,130		29,162		195,254
	$	83,686	$	118,625	$	60,658	$	39,348	$	52,850	$	355,167

Contract with Customer, Asset and Liability

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



	October 31, 2020		May 2, 2020		Dollar Change			Percent Change
Contract assets	$	26,707	$	35,467	$	(8,760	)	(24.7	)%
Contract liabilities - current	47,107		50,897		(3,790		)	(7.4	)
Contract liabilities - noncurrent	10,741		10,707		34			0.3

Deferred Revenue, by Arrangement

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



	October 31, 2020
Balance at beginning of period	$	24,490
New contracts sold	20,756
Less: reductions for revenue recognized	(20,290		)
Foreign currency translation and other	560
Balance at end of period	$	25,516

Segment Disclosure (Tables)

6 Months Ended

Oct. 31, 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						Six Months Ended
	October 31, 2020			November 2, 2019			October 31, 2020			November 2, 2019
Net sales:
Commercial	$	30,356		$	39,651		$	64,862		$	83,686
Live Events	37,822			59,319			89,296			118,625
High School Park and Recreation	27,578			30,193			56,521			60,658
Transportation	15,323			20,330			29,821			39,348
International	16,288			25,418			30,511			52,850
	127,367			174,911			271,011			355,167

Gross profit:
Commercial	8,578			7,862			16,320			17,080
Live Events	7,300			11,934			16,654			24,671
High School Park and Recreation	8,497			9,224			18,973			19,411
Transportation	5,312			7,003			10,455			13,757
International	3,627			4,064			6,673			10,673
	33,314			40,087			69,075			85,592

Contribution margin: (1)
Commercial	4,781			2,853			9,222			6,937
Live Events	4,881			8,362			12,019			17,234
High School Park and Recreation	5,951			5,988			13,866			12,580
Transportation	4,446			5,895			8,827			11,347
International	601			812			931			3,020
	20,660			23,910			44,865			51,118

Non-allocated operating expenses:
General and administrative	7,264			8,965			14,388			18,058
Product design and development	6,737			10,121			14,269			20,621
Operating income	6,659			4,824			16,208			12,439

Nonoperating income (expense):
Interest income	66			162			151			431
Interest expense	(84		)	(31		)	(157		)	(66		)
Other (expense) income, net	(837		)	(514		)	(1,464		)	(321		)

Income before income taxes	5,804			4,441			14,738			12,483
Income tax expense (benefit)	2,388			(2,833		)	3,855			(1,821		)
Net income	$	3,416		$	7,274		$	10,883		$	14,304

Depreciation and amortization:
Commercial	$	721		$	895		$	1,493		$	1,869
Live Events	1,424			1,394			2,875			2,792
High School Park and Recreation	492			507			988			1,019
Transportation	234			252			471			516
International	701			563			1,394			1,087
Unallocated corporate depreciation	655			730			1,343			1,441
	$	4,227		$	4,341		$	8,564		$	8,724

(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				Six Months Ended
	October 31, 2020		November 2, 2019		October 31, 2020		November 2, 2019
Net sales:
United States	$	108,453	$	147,106	$	236,522	$	296,566
Outside United States	18,914		27,805		34,489		58,601
	$	127,367	$	174,911	$	271,011	$	355,167


	October 31, 2020		May 2, 2020
Property and equipment, net of accumulated depreciation:
United States	$	55,522	$	58,422
Outside United States	8,953		9,062
	$	64,475	$	67,484

Goodwill (Tables)

6 Months Ended

Oct. 31, 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 six months ended October 31, 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	15		106		15		171		307
Balance as of October 31, 2020	$	2,281	$	3,250	$	53	$	2,466	$	8,050

Commitments and Contingencies (Tables)

6 Months Ended

Oct. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability

Changes in our warranty obligation for the six months ended October 31, 2020 consisted of the following:



	October 31, 2020
Beginning accrued warranty obligations	$	25,624
Warranties issued during the period	5,001
Settlements made during the period	(2,817		)
Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations	(1,208		)
Ending accrued warranty obligations	$	26,600

Fair Value Measurement (Tables)

6 Months Ended

Oct. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value



	Fair Value Measurements
	Level 1		Level 2			Level 3			Total
Balance as of October 31, 2020
Cash and cash equivalents	$	69,836	$	—		$	—		$	69,836
Restricted cash	3,617		—			—			3,617
Available-for-sale securities:
Certificates of deposit	—		983			—			983
Derivatives - asset position	—		41			—			41
Derivatives - liability position	—		(31		)	—			(31		)
Acquisition-related contingent consideration	—		—			(456		)	(456		)
	$	73,453	$	993		$	(456	)	$	73,990
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 six months ended October 31, 2020 is as follows:



Acquisition-related contingent consideration as of May 2, 2020	$	761
Additions	83
Settlements	(400		)
Interest	12
Acquisition-related contingent consideration as of October 31, 2020	$	456

Basis of Presentation (Details) $ in Thousands	3 Months Ended		6 Months Ended
Basis of Presentation (Details) $ in Thousands	Oct. 31, 2020 USD ($)	Aug. 01, 2020 USD ($)	Oct. 31, 2020 USD ($)	May 02, 2020 USD ($)	Nov. 02, 2019 USD ($)	Apr. 27, 2019 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 69,836		$ 69,836	$ 40,398	$ 29,265
Restricted cash	3,617		3,617	14	59
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows	73,453		73,453	$ 40,412	$ 29,324	$ 35,742
Long-term Line of Credit	$ 15,000		$ 15,000
Number of employees, voluntary retirement			60
Voluntary retirement cost		$ 931
Number of employees, reduction in force	150	108
Severance Costs	$ 2,742	$ 1,426
Governmental Wage Subsidy	566	812
Payroll Tax, Employer, Deferral, CARES Act	3,976		$ 3,976
Balance as of May 2, 2020		$ 2,828	2,828
Charged to costs and expenses			1,428
Deductions (1)			(1,040)
Balance as of October 31, 2020	$ 3,216		$ 3,216

Investments in Affiliates (Details) - USD ($) $ in Thousands	6 Months Ended
	Oct. 31, 2020	Nov. 02, 2019	May 02, 2020
Equity and Cost Method Investments [Abstract]
Equity Method Investments	$ 16,112		$ 17,257
Equity in loss of affiliate	(1,145)	$ (241)
Related Party Transaction, Amounts of Transaction	$ 560

Earnings Per Share EPS - Reconciliation of Income (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Oct. 31, 2020	Aug. 01, 2020	Nov. 02, 2019	Aug. 03, 2019	Oct. 31, 2020	Nov. 02, 2019
Net income
Basic earnings per share	$ 3,416	$ 7,467	$ 7,274	$ 7,030	$ 10,883	$ 14,304
Dilution associated with stock compensation plans	0		0		0	0
Diluted earnings per share	$ 3,416		$ 7,274		$ 10,883	$ 14,304
Shares
Basic earnings per share (in shares)	44,893		45,115		44,808	45,114
Dilution associated with stock compensation plans (in shares)	84		152		139	247
Diluted earnings per share (in shares)	44,977		45,267		44,947	45,361
Per share income
Basic earnings per share (in dollars per share)	$ 0.08		$ 0.16		$ 0.24	$ 0.32
Dilution associated with stock compensation plans (in dollars per share)	0		0		0	0
Diluted earnings per share (in dollars per share)	$ 0.08		$ 0.16		$ 0.24	$ 0.32

Earnings Per Share EPS - Antidilutive Shares Excluded (Details) - Stock Options - $ / shares shares in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Nov. 02, 2019	Oct. 31, 2020	Nov. 02, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share (in shares)	2,348	2,282	2,233	2,238
Antidilutive securities excluded from computation of earnings per share, weighted average exercise price (dollars per share)	$ 9.28	$ 9.90	$ 9.61	$ 9.97

Revenue Recognition Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Nov. 02, 2019	Oct. 31, 2020	Nov. 02, 2019
Disaggregation of Revenue [Line Items]
Disaggregated revenue	$ 127,367	$ 174,911	$ 271,011	$ 355,167
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	64,078	83,606	128,105	159,913
Transferred over Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	63,289	91,305	142,906	195,254
Commercial
Disaggregation of Revenue [Line Items]
Disaggregated revenue	30,356	39,651	64,862	83,686
Commercial \| Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	23,226	27,304	46,118	55,007
Commercial \| Transferred over Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	7,130	12,347	18,744	28,679
Live Events
Disaggregation of Revenue [Line Items]
Disaggregated revenue	37,822	59,319	89,296	118,625
Live Events \| Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	6,736	13,169	12,950	22,289
Live Events \| Transferred over Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	31,086	46,150	76,346	96,336
High School Park and Recreation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	27,578	30,193	56,521	60,658
High School Park and Recreation \| Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	19,718	22,112	39,086	44,711
High School Park and Recreation \| Transferred over Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	7,860	8,081	17,435	15,947
Transportation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	15,323	20,330	29,821	39,348
Transportation \| Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	5,930	7,521	12,304	14,218
Transportation \| Transferred over Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	9,393	12,809	17,517	25,130
International
Disaggregation of Revenue [Line Items]
Disaggregated revenue	16,288	25,418	30,511	52,850
International \| Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	8,468	13,500	17,647	23,688
International \| Transferred over Time
Disaggregation of Revenue [Line Items]
Disaggregated revenue	7,820	11,918	12,864	29,162
Unique Configuration
Disaggregation of Revenue [Line Items]
Disaggregated revenue	51,243	78,567	121,349	170,724
Unique Configuration \| Commercial
Disaggregation of Revenue [Line Items]
Disaggregated revenue	3,508	9,007	12,235	21,972
Unique Configuration \| Live Events
Disaggregation of Revenue [Line Items]
Disaggregated revenue	27,302	41,413	69,277	87,000
Unique Configuration \| High School Park and Recreation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	5,091	5,186	12,759	11,216
Unique Configuration \| Transportation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	8,975	12,419	16,699	24,316
Unique Configuration \| International
Disaggregation of Revenue [Line Items]
Disaggregated revenue	6,367	10,542	10,379	26,220
Limited Configuration
Disaggregation of Revenue [Line Items]
Disaggregated revenue	62,967	82,801	126,548	158,066
Limited Configuration \| Commercial
Disaggregation of Revenue [Line Items]
Disaggregated revenue	22,611	26,654	45,166	53,889
Limited Configuration \| Live Events
Disaggregation of Revenue [Line Items]
Disaggregated revenue	4,611	11,513	10,030	19,226
Limited Configuration \| High School Park and Recreation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	21,696	24,127	42,384	47,927
Limited Configuration \| Transportation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	5,825	7,383	12,091	13,970
Limited Configuration \| International
Disaggregation of Revenue [Line Items]
Disaggregated revenue	8,224	13,124	16,877	23,054
Service and Other
Disaggregation of Revenue [Line Items]
Disaggregated revenue	13,157	13,543	23,114	26,377
Service and Other \| Commercial
Disaggregation of Revenue [Line Items]
Disaggregated revenue	4,237	3,990	7,461	7,825
Service and Other \| Live Events
Disaggregation of Revenue [Line Items]
Disaggregated revenue	5,909	6,393	9,989	12,399
Service and Other \| High School Park and Recreation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	791	880	1,378	1,515
Service and Other \| Transportation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	523	528	1,031	1,062
Service and Other \| International
Disaggregation of Revenue [Line Items]
Disaggregated revenue	$ 1,697	$ 1,752	$ 3,255	$ 3,576

Revenue Recognition Contract with Customer, Asset and Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2020	May 02, 2020
Revenue from Contract with Customer [Abstract]
Contract assets	$ 26,707	$ 35,467
Contract liabilities - current	47,107	50,897
Contract liabilities - noncurrent	10,741	$ 10,707
Dollar Change
Contract assets	(8,760)
Contract liabilities - current	(3,790)
Contract liabilities - noncurrent	$ 34
Change in Contract with Customer, Asset and Liability, Percentage [Abstract]
Contract assets percent change	(24.70%)
Contract liabilities, current, percent change	(7.40%)
Contract liabilities, noncurrent, percent change	0.30%
Revenue recognized related to contract liability	$ 37,973

Revenue Recognition Deferred Revenue, by Arrangement (Details) $ in Thousands	6 Months Ended
	Oct. 31, 2020 USD ($)
Revenue from Contract with Customer [Abstract]
Balance at beginning of period	$ 24,490
New contracts sold	20,756
Less: reductions for revenue recognized	20,290
Foreign currency translation and other	560
Balance at end of period	$ 25,516

Revenue Recognition Remaining Performance Obligations (Details) $ in Thousands	Oct. 31, 2020 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 254,253
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, service agreements	53,748
Remaining performance obligation, products	200,505
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-08-02
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 211,663
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				6 Months Ended
	Oct. 31, 2020 USD ($)	Aug. 01, 2020 USD ($)	Nov. 02, 2019 USD ($)	Aug. 03, 2019 USD ($)	Oct. 31, 2020 USD ($) segment	Nov. 02, 2019 USD ($)
Segment Reporting Information
Number of business units \| segment					5
Net sales	$ 127,367		$ 174,911		$ 271,011	$ 355,167
Gross profit	33,314		40,087		69,075	85,592
Non-allocated operating expenses:
General and administrative	7,264		8,965		14,388	18,058
Product design and development	6,737		10,121		14,269	20,621
Operating income	6,659		4,824		16,208	12,439
Nonoperating (expense) income:
Interest income	66		162		151	431
Interest expense	(84)		(31)		(157)	(66)
Other (expense) income, net	(837)		(514)		(1,464)	(321)
Income before income taxes	5,804		4,441		14,738	12,483
Income tax expense (benefit)	2,388		(2,833)		3,855	(1,821)
Net income	3,416	$ 7,467	7,274	$ 7,030	10,883	14,304
Operating Segments
Segment Reporting Information
Net sales	127,367		174,911		271,011	355,167
Gross profit	33,314		40,087		69,075	85,592
Contribution Margin	20,660		23,910		44,865	51,118
Depreciation and amortization
Depreciation, amortization, and impairment	4,227		4,341		8,564	8,724
Operating Segments \| Commercial
Segment Reporting Information
Net sales	30,356		39,651		64,862	83,686
Gross profit	8,578		7,862		16,320	17,080
Contribution Margin	4,781		2,853		9,222	6,937
Depreciation and amortization
Depreciation, amortization, and impairment	721		895		1,493	1,869
Operating Segments \| Live Events
Segment Reporting Information
Net sales	37,822		59,319		89,296	118,625
Gross profit	7,300		11,934		16,654	24,671
Contribution Margin	4,881		8,362		12,019	17,234
Depreciation and amortization
Depreciation, amortization, and impairment	1,424		1,394		2,875	2,792
Operating Segments \| High School Park and Recreation
Segment Reporting Information
Net sales	27,578		30,193		56,521	60,658
Gross profit	8,497		9,224		18,973	19,411
Contribution Margin	5,951		5,988		13,866	12,580
Depreciation and amortization
Depreciation, amortization, and impairment	492		507		988	1,019
Operating Segments \| Transportation
Segment Reporting Information
Net sales	15,323		20,330		29,821	39,348
Gross profit	5,312		7,003		10,455	13,757
Contribution Margin	4,446		5,895		8,827	11,347
Depreciation and amortization
Depreciation, amortization, and impairment	234		252		471	516
Operating Segments \| International
Segment Reporting Information
Net sales	16,288		25,418		30,511	52,850
Gross profit	3,627		4,064		6,673	10,673
Contribution Margin	601		812		931	3,020
Depreciation and amortization
Depreciation, amortization, and impairment	701		563		1,394	1,087
Operating Segments \| Unallocated
Depreciation and amortization
Depreciation, amortization, and impairment	$ 655		$ 730		$ 1,343	$ 1,441

Segment Disclosure - Net Sales and Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Nov. 02, 2019	Oct. 31, 2020	Nov. 02, 2019	May 02, 2020
Net sales:
Net sales	$ 127,367	$ 174,911	$ 271,011	$ 355,167
Long-lived assets:
Long-lived assets	64,475		64,475		$ 67,484
United States
Net sales:
Net sales	108,453	147,106	236,522	296,566
Long-lived assets:
Long-lived assets	55,522		55,522		58,422
Outside United States
Net sales:
Net sales	18,914	$ 27,805	34,489	$ 58,601
Long-lived assets:
Long-lived assets	$ 8,953		$ 8,953		$ 9,062

Goodwill (Details) $ in Thousands	6 Months Ended
Goodwill (Details) $ in Thousands	Oct. 31, 2020 USD ($)
Goodwill
Balance as of May 2, 2020	$ 7,743
Foreign currency translation	307
Balance as of October 31, 2020	8,050
Live Events
Goodwill
Balance as of May 2, 2020	2,266
Foreign currency translation	15
Balance as of October 31, 2020	2,281
Commercial
Goodwill
Balance as of May 2, 2020	3,144
Foreign currency translation	106
Balance as of October 31, 2020	3,250
Transportation
Goodwill
Balance as of May 2, 2020	38
Foreign currency translation	15
Balance as of October 31, 2020	53
International
Goodwill
Balance as of May 2, 2020	2,295
Foreign currency translation	171
Balance as of October 31, 2020	$ 2,466

Receivables (Details) - USD ($) $ in Thousands	6 Months Ended
Receivables (Details) - USD ($) $ in Thousands	Oct. 31, 2020	May 02, 2020
Receivables
Allowance for doubtful accounts	$ 3,216	$ 2,828
Retainage on construction-type contracts, expected to be collected in one year	621	687
Financing Receivable
Receivables
Long-term contracts and lease receivables, present value	3,033	4,633
Long-term contracts and lease receivables, face amount	$ 3,192	$ 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%

Financing Agreements (Details) $ in Thousands	Oct. 31, 2020 USD ($)
Line of Credit Facility [Line Items]
Long-term Line of Credit	$ 15,000
Line of Credit
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	35,000
Standby Letters of Credit
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	20,000
Long-term Line of Credit	$ 6,853

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Share Repurchase Program (Details) - USD ($) shares in Thousands, $ in Thousands	6 Months Ended
	Oct. 31, 2020	Nov. 02, 2019	Jun. 17, 2016
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount			$ 40,000
Stock Repurchased During Period, Shares	0	270
Stock Repurchased During Period, Value		$ 1,682
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 32,539

Commitments and Contingencies - Litigation (Details) - USD ($) $ in Thousands	Oct. 31, 2020	May 02, 2020
Commitments and Contingencies Disclosure [Abstract]
Loss Contingency, Estimate of Possible Loss	$ 2,166	$ 2,072

Commitments and Contingencies - Guarantees and Warranties (Details) $ in Thousands	6 Months Ended
	Oct. 31, 2020 USD ($)
Movement in Standard Product Warranty Accrual
Beginning accrued warranty obligations	$ 25,624
Warranties issued during the period	5,001
Settlements made during the period	(2,817)
Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations	(1,208)
Ending accrued warranty obligations	26,600
Letter of credit
Guarantees:
Performance guarantees outstanding	6,853
Guarantees
Guarantees:
Performance guarantees outstanding	3,122
Surety bonds
Guarantees:
Performance guarantees outstanding	$ 31,314

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Nov. 02, 2019	Oct. 31, 2020	Nov. 02, 2019
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	41.10%	(63.80%)	26.20%	(14.60%)
Unrecognized tax benefits that would affect our effective tax rate if recognized	$ 697		$ 697

Fair Value Measurement (Details) - Recurring Basis - USD ($) $ in Thousands	Oct. 31, 2020	May 02, 2020
Reported Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	$ 69,836	$ 40,398
Restricted cash	3,617	14
Derivatives - asset position	41	261
Derivatives - liability position	(31)	(17)
Acquisition-related contingent consideration	(456)	(761)
Assets (Liabilities), net	73,990	41,125
Reported Value Measurement [Member] \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	983	1,230
Estimate of Fair Value Measurement [Member] \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	69,836	40,398
Restricted cash	3,617	14
Derivatives - asset position	0	0
Derivatives - liability position	0	0
Acquisition-related contingent consideration	0	0
Assets (Liabilities), net	73,453	40,412
Estimate of Fair Value Measurement [Member] \| 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] \| 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	41	261
Derivatives - liability position	(31)	(17)
Acquisition-related contingent consideration	0	0
Assets (Liabilities), net	993	1,474
Estimate of Fair Value Measurement [Member] \| Level 2 \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	983	1,230
Estimate of Fair Value Measurement [Member] \| 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	(456)	(761)
Assets (Liabilities), net	(456)	(761)
Estimate of Fair Value Measurement [Member] \| 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	6 Months Ended
	Oct. 31, 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	83
Settlements	(400)
Interest	12
Acquisition-related contingent consideration as of October 31, 2020	$ 456