Smith & Wesson Brands (SWBI) 10-Q 27 Aug 15 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jul. 31, 2015	Aug. 24, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	SWHC
Entity Registrant Name	Smith & Wesson Holding Corporation
Entity Central Index Key	1,092,796
Current Fiscal Year End Date	--04-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		54,370,425

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 31, 2015	Apr. 30, 2015
Current assets:
Cash and cash equivalents	$ 55,417	$ 42,222
Accounts receivable, net of allowance for doubtful accounts of $737 on July 31, 2015 and $722 on April 30, 2015	51,535	55,280
Inventories	90,086	76,895
Prepaid expenses and other current assets	9,815	6,306
Deferred income taxes	16,373	16,373
Total current assets	223,226	197,076
Property, plant, and equipment, net	134,184	133,844
Intangibles, net	70,536	73,768
Goodwill	76,057	75,426
Other assets	10,092	10,811
Assets, Total	514,095	490,925
Current liabilities:
Accounts payable	34,952	32,360
Accrued expenses	16,212	19,021
Accrued payroll	9,366	7,556
Accrued income taxes	4,893	4,224
Accrued taxes other than income	3,286	5,281
Accrued profit sharing	7,912	6,165
Accrued warranty	6,158	6,404
Current portion of notes payable	6,300
Total current liabilities	89,079	81,011
Deferred income taxes	33,453	33,905
Notes payable, net of current portion	170,747	170,933
Other non-current liabilities	10,818	10,706
Total liabilities	$ 304,097	$ 296,555
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $.001 par value, 20,000,000 shares authorized, no shares issued or outstanding
Common stock, $.001 par value, 100,000,000 shares authorized, 69,931,033 shares issued and 54,368,411 shares outstanding on July 31, 2015 and 69,625,081 shares issued and 54,062,459 shares outstanding on April 30, 2015	$ 70	$ 70
Additional paid-in capital	220,530	219,198
Retained earnings	161,764	147,352
Accumulated other comprehensive (loss)/income	(43)	73
Treasury stock, at cost (15,562,622 shares on July 31, 2015 and April 30, 2015)	(172,323)	(172,323)
Total stockholders’ equity	209,998	194,370
Liabilities and Equity, Total	$ 514,095	$ 490,925

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jul. 31, 2015	Apr. 30, 2015
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 737	$ 722
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	69,931,033	69,625,081
Common stock, shares outstanding	54,368,411	54,062,459
Treasury stock, shares	15,562,622	15,562,622

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jul. 31, 2015		Jul. 31, 2014
Income Statement [Abstract]
Net sales	$ 147,763	[1]	$ 131,869
Cost of sales	88,893	[1]	82,751
Gross profit	58,870	[1]	49,118
Operating expenses:
Research and development	2,396		1,457
Selling and marketing	9,219		7,947
General and administrative	17,438		14,039
Total operating expenses	29,053		23,443
Operating income	29,817	[1]	25,675
Other (expense)/income:
Other (expense)/income, net	(6)		(6)
Interest income	51		24
Interest expense	(7,251)		(1,984)
Total other (expense)/income, net	(7,206)		(1,966)
Income from operations before income taxes	22,611		23,709
Income tax expense	8,199	[1]	9,153
Net income	14,412		14,556
Comprehensive income:
Fair market value adjustment of interest rate swap	(181)
Other comprehensive loss, before income taxes	(181)
Income tax benefit on other comprehensive income	65
Other comprehensive loss, net of tax	(116)
Comprehensive income	$ 14,296		$ 14,556
Net income per share:
Basic	$ 0.27		$ 0.27
Diluted	$ 0.26		$ 0.26
Weighted average number of common shares outstanding:
Basic	54,218		54,829
Diluted	55,477		56,145
[1]	We operated under one segment in the three month period ended July 31, 2014; thus, no comparative segment information is presented.

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity - 3 months ended Jul. 31, 2015 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss)/Income	Treasury Stock
Balance at Apr. 30, 2015	$ 194,370	$ 70	$ 219,198	$ 147,352	$ 73	$ (172,323)
Balance (in shares) at Apr. 30, 2015	69,625,081	69,625,000				15,563,000
Proceeds from exercise of employee stock options	$ 634		634
Proceeds from exercise of employee stock options (in shares)	132,599	133,000
Repurchase of common stock (in shares)	0
Stock-based compensation	$ 1,545		1,545
Excess tax benefit for stock-based compensation	814		814
Fair market value adjustment of interest rate swap, net of tax effect	(116)				(116)
Issuance of common stock under restricted stock unit awards, net of shares surrendered	(1,661)		(1,661)
Issuance of common stock under restricted stock unit awards, net of shares surrendered (in shares)		173,000
Net income	14,412			14,412
Balance at Jul. 31, 2015	$ 209,998	$ 70	$ 220,530	$ 161,764	$ (43)	$ (172,323)
Balance (in shares) at Jul. 31, 2015	69,931,033	69,931,000				15,563,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Cash flows from operating activities:
Net income	$ 14,412	$ 14,556
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	11,030	6,105
Loss/(gain) on sale/disposition of assets	63	(88)
Provision for losses on accounts receivable	15	17
Stock-based compensation expense	1,545	1,579
Changes in operating assets and liabilities (net effect of acquisitions):
Accounts receivable	3,730	5,213
Inventories	(13,191)	(11,601)
Prepaid expenses and other current assets	(3,509)	(2,239)
Income tax payable	669	8,752
Accounts payable	2,592	(2,184)
Accrued payroll	1,810	(8,377)
Accrued taxes other than income	(1,995)	(1,019)
Accrued profit sharing	1,747	1,250
Accrued expenses	(2,825)	(1,181)
Accrued warranty	(246)	(353)
Other assets	698	(110)
Other non-current liabilities	80	460
Net cash provided by operating activities	16,625	10,780
Cash flows from investing activities:
Refunds of deposits on machinery and equipment	835
Receipts from note receivable	21	21
Payments to acquire patents and software	(66)	(34)
Payments to acquire property and equipment	(7,940)	(14,588)
Net cash used in investing activities	(7,150)	(38,696)
Cash flows from financing activities:
Proceeds from loans and notes payable	105,000	75,000
Cash paid for debt issuance costs	(918)	(2,337)
Payments on capital lease obligation	(149)	(150)
Payments on notes payable	(100,000)
Payments to acquire treasury stock		(30,040)
Proceeds from exercise of options to acquire common stock	634	424
Payroll taxes paid as a result of restricted stock unit withholdings	(1,661)	(444)
Excess tax benefit of stock-based compensation	814	61
Net cash provided by financing activities	3,720	42,514
Net increase in cash and cash equivalents	13,195	14,598
Cash and cash equivalents, beginning of period	42,222	68,860
Cash and cash equivalents, end of period	55,417	83,458
Supplemental disclosure of cash flow information Cash paid for:
Interest	8,253	3,010
Income taxes	$ 6,816	639
Tri Town Precision Plastics Inc
Cash flows from investing activities:
Payments to acquire business, net of cash acquired		$ (24,095)

Organization

Organization	3 Months Ended
	Jul. 31, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	(1) Organization: We are one of the world’s leading manufacturers of firearms. We manufacture a wide array of handguns (including revolvers and pistols), long guns (including modern sporting rifles, bolt action rifles, and single shot rifles), handcuffs, and firearm-related products and accessories for sale to a wide variety of customers, including gun enthusiasts, collectors, hunters, sportsmen, competitive shooters, individuals desiring home and personal protection, law enforcement and security agencies and officers, and military agencies in the United States and throughout the world. We are one of the largest manufacturers of handguns, modern sporting rifles, and handcuffs in the United States and an active participant in the hunting rifle market. Beginning in 2015, we are now also a leading provider of shooting, reloading, gunsmithing, and gun cleaning supplies. We sell our products under the Smith & Wesson ® ® TM ® ® ® ® ® TM ® ® We manufacture our firearm products at our facilities in Springfield, Massachusetts; Houlton, Maine; and Deep River, Connecticut, and we develop and market our accessories products at our facility in Columbia, Missouri. We plan to continue to capitalize on the goodwill developed through our historic 163 year old “Smith & Wesson” brand as well as our other well-known brands by expanding consumer awareness of the products we produce. On May 5, 2014, we acquired substantially all of the net assets of Tri-Town Precision Plastics, Inc., or TTPP, which we refer to as the DRP Acquisition. On December 11, 2014, we acquired all of the issued and outstanding stock of Battenfeld Acquisition Company Inc., including its wholly owned subsidiary, Battenfeld Technologies, Inc., or BTI, which we refer to as the BTI Acquisition. See Note 3 – Acquisitions below for more information regarding these transactions. These acquisitions have been accounted for in accordance with ASC 805-20, Business Combinations, and, accordingly, the results of operations from the acquired businesses have been included in our consolidated financial statements following the acquisition dates.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Jul. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	(2) Basis of Presentation: Interim Financial Information – The consolidated balance sheet as of July 31, 2015, the consolidated statements of income and comprehensive income for the three months ended July 31, 2015 and 2014, the consolidated statement of changes in stockholders’ equity for the three months ended July 31, 2015, and the consolidated statements of cash flows for the three months ended July 31, 2015 and 2014 have been prepared by us and are unaudited. In our opinion, all adjustments, which include only normal recurring adjustments necessary to fairly present the financial position, results of operations, changes in stockholders’ equity, and cash flows at July 31, 2015 and for the periods presented, have been included. All significant intercompany transactions have been eliminated in consolidation. The consolidated balance sheet as of April 30, 2015 has been derived from our audited consolidated financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended April 30, 2015. The results of operations for the three months ended July 31, 2015 may not be indicative of the results that may be expected for the year ending April 30, 2016, or any other period. Recently Issued Accounting Standards – In April 2015, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2015-03, (Topic 835-30), which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this ASU. The disclosure requirements are effective for annual periods (and interim periods within those annual periods) beginning after December 15, 2015 and require retrospective application. We elected to early adopt ASU 2015-03. Accordingly, unamortized debt issuance costs of $3.0 million and $4.1 million as of July 31, 2015 and April 30, 2015, respectively, which were previously included in other assets, are included in notes payable in the accompanying consolidated balance sheets. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In July 2015, the FASB issued ASU 2015-11, Inventory - Simplifying the Measurement of Inventory

Acquisitions

Acquisitions	3 Months Ended
	Jul. 31, 2015
Business Combinations [Abstract]
Acquisitions	(3) Acquisitions: DRP Acquisition On May 5, 2014, we acquired substantially all of the net assets of TTPP for $22.8 million, plus a $1.0 million working capital adjustment, for a total purchase price of $23.8 million, utilizing cash on hand. The DRP Acquisition of TTPP’s custom polymer injection molding capabilities was designed to vertically integrate a key component of our manufacturing operations and provide us with increased flexibility within our supply chain. BTI Acquisition On December 11, 2014, we acquired all of the issued and outstanding stock of BTI for $130.5 million, plus a $3.1 million working capital adjustment, for a total purchase price of $133.6 million, pursuant to a Stock Purchase and Sale Agreement. The BTI Acquisition was financed using a combination of existing cash balances and cash from a $100.0 million draw on our line of credit. BTI, based in Columbia, Missouri, is a leading provider of hunting and shooting accessories, which develops, produces, and delivers innovative, high-quality products under several brands. On January 9, 2015, we acquired substantially all of the net assets of Hooyman LLC, a manufacturer of extendable tree saws designed for the hunting and outdoor industry, for $1.9 million utilizing cash on hand. We have relocated its operations to our Columbia, Missouri facility. The aggregate purchase price of these acquisitions, including the working capital adjustments, was $135.5 million. We are finalizing the valuation of the assets acquired and liabilities assumed. Therefore, the fair values set forth below are subject to further adjustments as we obtain additional information during the measurement period, which will not exceed 12 months from the acquisition date. Adjustments in the purchase price allocation may require a recasting of the amounts allocated to goodwill retroactive to the period in which the acquisition occurred. During the three months ended July 31, 2015, goodwill was increased by $631,000 primarily as a result of changes in estimates in the fair values of acquired intangible assets. The following table summarizes the estimated allocation of the purchase price for BTI at the acquisition date, which includes the net assets from the Hooyman acquisition, as well as measurement period adjustments to date (in thousands): December 11, 2014 Measurement (As Initially Period December 11, 2014 Reported) Adjustments (As Adjusted) Cash $ 24 $ — $ 24 Accounts receivable 7,873 3 7,876 Inventories 12,819 107 12,926 Income tax receivable 393 (279 ) 114 Other current assets 563 — 563 Property, plant, and equipment 2,826 (318 ) 2,508 Intangibles 73,550 (1,000 ) 72,550 Goodwill 62,142 143 62,285 Total assets acquired 160,190 (1,344 ) 158,846 Accounts payable 1,647 2 1,649 Accrued expenses 326 16 342 Accrued payroll 904 — 904 Accrued taxes other than income 9 — 9 Deferred income taxes 21,128 (647 ) 20,481 Total liabilities assumed 24,014 (629 ) 23,385 $ 136,176 $ (715 ) $ 135,461 We recorded $1.7 million of acquisition-related costs during fiscal 2015 related to the BTI Acquisition. The goodwill that was recorded relating to the BTI Acquisition resulted from our ability to expand our presence in the firearm accessories market and leverage BTI’s broad portfolio of hunting and shooting accessories brands. Previously acquired goodwill of $12.0 million will be deductible for tax purposes over its remaining useful life. The remaining goodwill recorded as a result of the BTI Acquisition is not expected to be deductible for tax purposes. All of the goodwill recorded as result of the BTI Acquisition has been allocated to our accessories segment. We amortize intangible assets in proportion to expected yearly revenue generated from the intangibles that were acquired. We amortize order backlog over the contract lives as they are executed. The following are the identifiable intangible assets acquired (in thousands) and their respective weighted average lives: Weighted Average Life Amount (In years) Developed technology $ 16,430 4.3 Customer relationships 25,280 4.4 Trade names 30,740 5.4 Order backlog 100 0.3 $ 72,550 Additionally, the following table reflects the unaudited pro forma results of operations assuming that the BTI Acquisition had occurred on May 1, 2014 (in thousands, except per share data): For the Three Months Ended July 31, 2014 Net sales $ 142,130 Income from operations 11,165 Income per share - diluted 0.20 The unaudited pro forma income from operations for the three months ended July 31, 2014 has been adjusted to reflect increased cost of goods sold from the fair value step-up in inventory, which is expensed over the first inventory cycle, and the amortization of intangibles and order backlog incurred as if the acquisition had occurred on May 1, 2014. The unaudited pro forma information is presented for informational purposes only and is not necessarily indicative of the actual results that would have been achieved had the BTI Acquisition occurred as of May 1, 2014 or the results that may be achieved in future periods.

Notes Payable

Notes Payable	3 Months Ended
	Jul. 31, 2015
Debt Disclosure [Abstract]
Notes Payable	(4) Notes Payable: Credit Facilities – On June 15, 2015, we entered into a new unsecured credit facility with TD Bank, N.A. and other lenders, or the Lenders, which included a $175.0 million revolving line of credit, or the Revolving Line, and a $105.0 million term loan, or the Term Loan, pursuant to a new credit agreement, or the Credit Agreement. The Revolving Line provides for availability until June 15, 2020 for general corporate purposes, and borrowings bear interest at a variable rate equal to LIBOR or prime plus an applicable margin based on our consolidated leverage ratio, at our election. As of July 31, 2015, there were no borrowings outstanding on the Revolving Line. Had there been borrowings, they would have borne an interest rate of 3.75% per annum if we had selected the prime rate option and a range of 1.94% to 2.04% per annum if we had selected the LIBOR rate option. The Term Loan, which bears variable interest at rates calculated in the same manner as the Revolving Line, or 1.9384% based on the one-month LIBOR rate at July 31, 2015, was entered into for the purpose of redeeming the entire $100.0 million outstanding principal balance of our 5.875% Senior Notes due 2017, or the 5.875% Senior Notes. The Term Loan requires principal payments of $6.3 million per annum plus interest, paid quarterly. Any remaining outstanding amount on the maturity date of June 15, 2020 will be due in full. Concurrent with closing the Term Loan, our 5.875% Senior Notes were redeemed for a $2.9 million call premium, which is included in interest expense, plus accrued and unpaid interest. In connection with the redemption, we expensed $1.7 million of unamortized debt-issuance costs related to our 5.875% Senior Notes, which is included in interest expense in the accompanying consolidated statements of income and comprehensive income. We incurred $918,000 of debt issuance costs related to our new credit facility, which are included in notes payable in the accompanying consolidated balance sheet. We were required to obtain fixed interest rate protection on the Term Loan covering not less than 75% of the aggregate outstanding principal balance of the Term Loan. Accordingly, on June 18, 2015, we entered into an interest rate swap agreement that covered 100% of the $105.0 million of floating rate debt, which expires on June 15, 2020. On July 6, 2015, we executed an interest rate swap pursuant to such agreement, which requires us to pay interest at a defined rate of 1.56% while receiving interest at a defined variable rate of one-month LIBOR (0.188% at July 31, 2015). This swap, when combined with the applicable margin based on our consolidated leverage ratio as of July 31, 2015, effectively fixed our interest rate on the Term Loan at 3.31%, which is subject to change based on changes in our consolidated leverage ratio. We recognize derivatives as either assets or liabilities on our consolidated balance sheets at fair value. The accounting for changes in the fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and on the type of hedging relationship. Derivatives that do not qualify for hedge accounting must be adjusted to fair value through earnings. Our interest rate swap agreement is considered effective and qualifies as a cash flow hedge. The effective portion of the gain or loss on the derivative that is designated and qualifies as a cash flow hedge is recorded as a component of accumulated other comprehensive income or loss and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. As of July 31, 2015, the interest rate swap was considered effective and had no effect on earnings. The fair value of the interest rate swap on July 31, 2015 was a liability of $181,000 and was included in other long-term liabilities on our consolidated balance sheet; we do not expect the interest rate swap to have any material effect on earnings within the next 12 months. Subsequent to executing our interest rate swap, the effective interest rate of our Term Loan was 3.31% as of July 31, 2015. 5.000% Senior Notes – During fiscal 2015, we issued an aggregate of $75.0 million of 5.000% Senior Notes due 2018, or the 5.000% Senior Notes, to various institutional investors pursuant to the terms and conditions of an indenture, or the 5.000% Senior Notes Indenture, and purchase agreements. The 5.000% Senior Notes bear interest at a rate of 5.000% per annum payable on January 15 and July 15 of each year, beginning on January 15, 2015. We incurred $2.3 million of debt issuance costs related to the issuance of the 5.000% Senior Notes. At any time prior to July 15, 2016, we may, at our option (a) upon not less than 30 nor more than 60 days’ prior notice, redeem all or a portion of the 5.000% Senior Notes at the redemption price of 100% of the principal amount of the 5.000% Senior Notes, plus an applicable premium, plus accrued and unpaid interest as of the redemption date; or (b) redeem up to 35% of the aggregate principal amount of the 5.000% Senior Notes with the net cash proceeds of one or more equity offerings at a redemption price of 105.000% of the principal amount of the 5.000% Senior Notes, plus accrued and unpaid interest as of the redemption date; provided, that in the case of the foregoing clause, at least 65% of the aggregate original principal amount of the 5.000% Senior Notes remains outstanding, and the redemption occurs within 60 days after the closing of the equity offering. On and after July 15, 2016, we may, at our option, upon not less than 30 nor more than 60 days’ prior notice, redeem all or a portion of the 5.000% Senior Notes at a redemption price of (a) 102.500% of the principal amount of the 5.000% Senior Notes to be redeemed, if redeemed during the 12-month period beginning on July 15, 2016; or (b) 100% of the principal amount of the 5.000% Senior Notes to be redeemed, if redeemed during the 12-month period beginning on July 15, 2017, plus, in either case, accrued and unpaid interest on the 5.000% Senior Notes as of the applicable redemption date. Subject to certain restrictions and conditions, we may be required to make an offer to repurchase the 5.000% Senior Notes from the holders of the 5.000% Senior Notes in connection with a change of control or disposition of assets. If not redeemed by us or repaid pursuant to the holders’ right to require repurchase, the 5.000% Senior Notes mature on July 15, 2018. The 5.000% Senior Notes are general, unsecured obligations of our company. The 5.000% Senior Notes Indenture contains certain affirmative and negative covenants, including limitations on restricted payments (such as share repurchases, dividends, and early payment of indebtedness), limitations on indebtedness, limitations on the sale of assets, and limitations on liens. Payments that would otherwise be characterized as restricted payments are permitted under the 5.000% Senior Notes Indenture in an amount not to exceed 50% of our consolidated net income for the period from the issue date to the date of the restricted payment, provided that at the time of making such payments, (a) no default has occurred or would result from the making of such payments, and (b) we are able to satisfy the debt incurrence test under the 5.000% Senior Notes Indenture, or the 5.000% Senior Notes Lifetime Aggregate Limit. In addition, the 5.000% Senior Notes Indenture provides for other exceptions to the restricted payments covenant, each of which are independent of the 5.000% Senior Notes Lifetime Aggregate Limit. Among such exceptions are (i) the ability to make share repurchases each fiscal year in an amount not to exceed the lesser of (A) $50.0 million in any fiscal year or (B) 75.0% of our consolidated net income for the previous four consecutive published fiscal quarters prior to the date of the determination of such consolidated net income, and (ii) share repurchases over the life of the 5.000% Senior Notes in an aggregate amount not to exceed $75.0 million. The limitation on indebtedness in the 5.000% Senior Notes Indenture is only applicable at such time that the consolidated coverage ratio (as set forth in the 5.000% Senior Notes Indenture) for us and our restricted subsidiaries is less than 3.00 to 1.00. In general, as set forth in the 5.000% Senior Notes Indenture, the consolidated coverage ratio is determined by comparing our prior four quarters’ consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) to our consolidated interest expense. The Credit Agreement for our credit facility contains financial covenants relating to maintaining maximum leverage and minimum debt service coverage. The 5.000% Senior Notes Indenture contains a financial covenant relating to times interest earned. Letters of Credit – At July 31, 2015, we had outstanding letters of credit under our credit facility aggregating $1.0 million.

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Jul. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurement	(5) Fair Value Measurement: We follow the provisions of ASC 820-10, Fair Value Measurements and Disclosures Topic Financial assets and liabilities recorded on the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows: Level 1 — Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that we have the ability to access at the measurement date (examples include active exchange-traded equity securities, listed derivatives, and most U.S. Government and agency securities). Our cash equivalents, which are measured at fair value on a recurring basis, totaled $55.4 million and $42.2 million as of July 31, 2015 and April 30, 2015, respectively. We utilized Level 1 of the value hierarchy to determine the fair values of these assets. Level 2 — Financial assets and liabilities whose values are based on quoted prices in markets in which trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets. Level 2 inputs include the following: · quoted prices for identical or similar assets or liabilities in non-active markets (such as corporate and municipal bonds which trade infrequently); · inputs other than quoted prices that are observable for substantially the full term of the asset or liability (examples include interest rate and currency swaps); and · inputs that are derived principally from or corroborated by observable market data for substantially the full term of the asset or liability (such as certain securities and derivatives). The carrying value of our 5.000% Senior Notes and the Term Loan as of July 31, 2015 approximates fair value in considering Level 2 inputs within the hierarchy. The fair value of the interest rate swap of $181,000 as of July 31, 2015 was estimated by a third party using inputs that are observable or that can be corroborated by observable market data such as interest rate yield curves, and, therefore, are classified within Level 2 of the valuation hierarchy. Level 3 — Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect our assumptions about the assumptions a market participant would use in pricing the asset or liability. We currently do not have any Level 3 financial assets or liabilities.

Inventories

Inventories	3 Months Ended
	Jul. 31, 2015
Inventory Disclosure [Abstract]
Inventories	(6) Inventories: The following table sets forth a summary of inventories, net of reserves, stated at lower of cost or market, as of July 31, 2015 and April 30, 2015 (in thousands): July 31, 2015 April 30, 2015 Finished goods $ 42,467 $ 28,240 Finished parts 34,152 34,269 Work in process 7,406 7,492 Raw material 6,061 6,894 Total inventories $ 90,086 $ 76,895

Intangible Assets

Intangible Assets	3 Months Ended
	Jul. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	(7) Intangible Assets: The following table presents a summary of intangible assets as of July 31, 2015 and April 30, 2015 (in thousands): July 31, 2015 April 30, 2015 Gross Gross Carrying Accumulated Net Carrying Accumulated Net Carrying Amount Amortization Amount Amount Amortization Amount Customer relationships $ 27,860 $ (2,813 ) $ 25,047 $ 28,260 $ (1,633 ) $ 26,627 Developed technology 16,430 (1,327 ) 15,103 16,630 (1,014 ) 15,616 Patents, trademarks, and tradenames 35,804 (5,959 ) 29,845 36,380 (5,303 ) 31,077 80,094 (10,099 ) 69,995 81,270 (7,950 ) 73,320 Patents in progress 541 — 541 448 — 448 $ 80,635 $ (10,099 ) $ 70,536 $ 81,718 $ (7,950 ) $ 73,768 Intangible assets with determinable lives are amortized over their estimated useful lives and are also reviewed for impairment if events or changes in circumstances indicate that their carrying amount may not be recoverable. Intangible assets with determinable lives are being amortized over a weighted-average period of approximately six years. The weighted-average periods of amortization by intangible asset class is approximately five years for customer relationships, six years for developed technology, and five years for patents, trademarks, and tradenames. Amortization expense, excluding amortization of deferred financing costs, amounted to $2.2 million and $161,000 for the three months ended July 31, 2015 and 2014, respectively. Estimated amortization expense of intangible assets for the remainder of fiscal 2016 and succeeding fiscal years is as follows: Fiscal Amount 2016 $ 8,446 2017 10,480 2018 9,735 2019 8,547 2020 7,399 Thereafter 25,388 Total $ 69,995 On an annual basis, or more frequently if events or changes in circumstances indicate that the asset might be impaired, the fair value of the indefinite-lived intangible assets is evaluated to determine if an impairment charge is required. We performed our most recent annual impairment review as of February 1, 2015. There were no events or changes in circumstances that would indicate the fair value of intangible assets was reduced to below its carrying value during the three months ended July 31, 2015, and therefore intangible assets were not tested for impairment.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Jul. 31, 2015
Equity [Abstract]
Stockholders' Equity	(8) Stockholders’ Equity: Treasury Stock During the three months ended July 31, 2015, our board of directors authorized the repurchase of up to $50.0 million of our common stock, subject to certain conditions, in the open market or in privately negotiated transactions until June 23, 2017. As of July 31, 2015, we made no share repurchases under this stock repurchase program. Earnings per Share The following table provides a reconciliation of the net income amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings per share for the three months ended July 31, 2015 and 2014 (in thousands, except per share data): For the Three Months Ended July 31, 2015 2014 Net Per Share Net Per Share Income Shares Amount Income Shares Amount Basic earnings $ 14,412 54,218 $ 0.27 $ 14,556 54,829 $ 0.27 Effect of dilutive stock awards — 1,259 (0.01 ) — 1,316 (0.01 ) Diluted earnings $ 14,412 55,477 $ 0.26 $ 14,556 56,145 $ 0.26 All of our outstanding stock options and restricted stock units, or RSUs, were included in the computation of diluted earnings per share for the three months ended July 31, 2015. For the three months ended July 31, 2014, there were 5,305 shares of common stock issuable under our 2011 Employee Stock Purchase Plan, or ESPP, that were excluded from the computation of diluted earnings per share because the effect would be antidilutive. Incentive Stock and Employee Stock Purchase Plans We have two stock plans: the 2004 Incentive Stock Plan and the 2013 Incentive Stock Plan. New grants under the 2004 Incentive Stock Plan have not been made since the approval of the 2013 Incentive Stock Plan at our September 23, 2013 annual meeting of stockholders. All new grants covering all participants are issued under the 2013 Incentive Stock Plan. Except in specific circumstances, grants vest over a period of three or four years and are exercisable for a period of 10 years. The plan also permits the grant of awards to non-employees, which our board of directors has authorized in the past. The number of shares and weighted average exercise prices of options for the three months ended July 31, 2015 and 2014 were as follows: For the Three Months Ended July 31, 2015 2014 Weighted- Weighted- Average Average Shares Exercise Price Shares Exercise Price Options outstanding, beginning of year 1,879,630 $ 6.37 2,258,349 $ 6.15 Exercised during the period (132,599 ) 4.78 (99,554 ) 4.25 Options outstanding, end of period 1,747,031 $ 6.49 2,158,795 $ 6.24 Weighted average remaining contractual life 5.04 years 5.82 years Options exercisable, end of period 1,745,865 $ 6.48 1,892,631 $ 6.23 Weighted average remaining contractual life 5.04 years 5.60 years The aggregate intrinsic value of outstanding stock options as of July 31, 2015 and 2014 was $17.0 million and $13.8 million, respectively. The aggregate intrinsic value of outstanding stock options that were exercisable as of July 31, 2015 and 2014 was $17.0 million and $12.2 million, respectively. The aggregate intrinsic value of the stock options exercised for the three months ended July 31, 2015 and 2014 was $1.4 million and $1.0 million, respectively. At July 31, 2015, unrecognized compensation costs related to our outstanding options was not material. On September 26, 2011, our stockholders approved our ESPP. All options and rights to participate in our ESPP are nontransferable and subject to forfeiture in accordance with the terms of our ESPP. In the event of certain corporate transactions, each option outstanding under our ESPP will be assumed or an equivalent option will be substituted by the successor corporation or a parent or subsidiary of such successor corporation. We measure the cost of employee services received in exchange for an award of an equity instrument based on the grant-date fair value of the award. We calculate the fair value of our stock options issued to employees using the Black-Scholes model at the time the options were granted. That amount is then amortized over the vesting period of the option. With our ESPP, fair value is determined at the beginning of the purchase period and amortized over the term of each exercise period. We estimate expected volatility using historical volatility for the expected term. The fair value of each stock option or ESPP purchase was estimated on the date of the grant using the Black-Scholes option pricing model (using the risk-free interest rate, expected term, expected volatility, and dividend yield variables). The total stock-based compensation expense, including stock options, purchases under our ESPP, RSUs, and performance-based RSUs, or PSUs, was $1.5 million and $1.6 million for the three months ended July 31, 2015 and 2014, respectively. Stock-based compensation expense is included in cost of sales, sales and marketing, research and development, and general and administrative expenses. We grant service-based RSUs to employees, consultants, and directors. The awards are made at no cost to the recipient. An RSU represents the right to acquire one share of our common stock and does not carry voting or dividend rights. Except in specific circumstances, RSU grants to employees generally vest over a period of three or four years with one-third or one-fourth of the units vesting, respectively, on each anniversary date of the grant date. The aggregate fair value of our RSU grants is being amortized to compensation expense over the vesting period. We grant PSUs with market conditions to our executive officers and we grant PSUs without market conditions to certain other employees who are not executive officers. At the time of grant, we calculate the fair value of our market-condition PSUs using the Monte-Carlo simulation (using the risk-free interest rate, expected volatility, the correlation coefficient utilizing the same historical price data used to develop the volatility assumptions and dividend yield variables). The market-condition PSUs vest, and the fair value of such PSUs will be recognized, over the corresponding three-year performance period. Our market-condition PSUs have a maximum aggregate award equal to 200% of the target amount granted. The number of market-condition PSUs that may be earned depends upon the total stockholder return, or TSR, of our common stock compared with the TSR of the Russell 2000 Index, or RUT, over the three-year performance period. For the fiscal 2014 and 2013 PSUs, our stock must outperform the RUT by 10% in order for the target award to vest. For our fiscal 2015 PSUs, our stock must outperform the RUT by 5% in order for the target award to vest. In addition, there is a cap on the number of shares that can be earned under the fiscal 2015 PSUs equal to six times the grant-date value of each award. In certain circumstances beginning with the fiscal 2015 RSUs and PSUs, the vested awards will be delivered on the first anniversary of the applicable vesting date. We have applied a discount to the grant date fair value when determining the amount of compensation expense to be recorded for these RSUs and PSUs. During the three months ended July 31, 2015, we granted 163,984 service-based RSUs and 5,379 PSUs without market conditions to non-executive officer employees. In addition, in connection with a 2012 grant, we vested 104,000 market-condition PSUs (i.e., the target amount granted), which achieved 173.3% of the maximum award possible resulting in awards totaling 180,231 shares to certain of our executive officers and a former executive officer. Compensation expense recognized related to grants of RSUs and PSUs was $1.4 million for the three months ended July 31, 2015. During the three months ended July 31, 2015, we cancelled 46,663 service-based RSUs and 19,250 market-condition PSUs as a result of the service period condition not being met. We delivered 274,143 shares of common stock to employees during the three months ended July 31, 2015 under vested RSUs and PSUs with a total market value of $4.5 million. During the three months ended July 31, 2014, we granted 164,600 service-based RSUs, including 159,600 RSUs to non-executive officer employees and 5,000 RSUs to one of our directors. Compensation expense recognized related to grants of RSUs and PSUs was $1.3 million for the three months ended July 31, 2014. We cancelled 3,699 service-based RSUs as a result of the service period condition not being met and delivered 117,004 shares of common stock to employees under vested RSUs and PSUs with a total market value of $1.6 million during the three months ended July 31, 2014. A summary of activity in unvested RSUs and PSUs for the three months ended July 31, 2015 and 2014 is as follows: For the Three Months Ended July 31, 2015 2014 Weighted Weighted Total # of Average Total # of Average Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value RSUs and PSUs outstanding, beginning of year 1,190,879 $ 12.45 1,015,475 $ 10.56 Awarded 245,594 14.27 164,600 13.00 Vested (274,143 ) 10.53 (117,004 ) 10.76 Forfeited (65,913 ) 10.16 (3,699 ) 10.98 RSUs and PSUs outstanding, end of period 1,096,417 $ 13.36 1,059,372 $ 11.93 As of July 31, 2015, there was $8.1 million of unrecognized compensation cost related to unvested RSUs and PSUs. This cost is expected to be recognized over a weighted average remaining contractual term of 1.8 years.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jul. 31, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	(9) Commitments and Contingencies: Litigation We are a defendant in seven product liability cases and are aware of approximately eight other product liability claims, primarily alleging defective product design, defective manufacturing, or failure to provide adequate warnings. In addition, we are a co-defendant in a case filed on August 27, 1999 by the city of Gary, Indiana against numerous firearm manufacturers, distributors, and dealers seeking to recover damages allegedly arising out of the misuse of firearms by third parties. We believe that the various allegations as described above are unfounded, and, in addition, that any accident and any results from them were due to negligence or misuse of the firearm by the claimant or a third party. In addition, we are involved in lawsuits, claims, investigations, and proceedings, including commercial, environmental, and employment matters, which arise in the ordinary course of business. The relief sought in individual cases primarily includes compensatory and, sometimes, punitive damages. Certain of the cases and claims seek unspecified compensatory or punitive damages. In others, compensatory damages sought may range from less than $75,000 to approximately $1.5 million. In our experience, initial demands do not generally bear a reasonable relationship to the facts and circumstances of a particular matter. We believe that our accruals for product liability cases and claims, as described below, are a reasonable quantitative measure of the cost to us of product liability cases and claims. We are vigorously defending ourselves in the lawsuits to which we are subject. An unfavorable outcome or prolonged litigation could harm our business. Litigation of this nature also is expensive and time consuming and diverts the time and attention of our management. We monitor the status of known claims and the related product liability accrual, which includes amounts for defense costs for asserted and unasserted claims. After consultation with litigation counsel and the review of the merit of each claim, we have concluded that we are unable to reasonably estimate the probability or the estimated range of reasonably possible losses related to material adverse judgments related to such claims and, therefore, we have not accrued for any such judgments. In the future, should we determine that a loss (or an additional loss in excess of our accrual) is at least reasonably possible and material, we would then disclose an estimate of the possible loss or range of loss, if such estimate could be made, or disclose that an estimate could not be made. We believe that we have provided for adequate reserves for defense costs. We have recorded our liability for defense costs before consideration for reimbursement from insurance carriers. We have also recorded the amounts due as reimbursement under existing policies from the insurance carriers as a receivable shown in other current assets and other assets. On July 30, 2015, we entered into an agreement for a $1.8 million insurance recovery as a result of an insurance settlement agreement for partial reimbursement of defense costs we incurred in prior fiscal years related to our resolved government investigation. Subsequent to July 31, 2015, we received the full amount of the insurance recovery mentioned above. At this time, an estimated range of reasonably possible additional losses relating to unfavorable outcomes cannot be made. Environmental Remediation We are subject to numerous federal, state, and local laws that regulate both the health and safety of our workforce as well as our environmental liability, including, but not limited to, those regulations monitored by the Occupational Health and Safety Administration (OSHA), the National Fire Protection Association (NFPA), and the Department of Public Health (DPH). Though not exhaustive, examples of applicable regulations include confined space safety, walking and working surfaces, machine guarding, and life safety. We are required to comply with regulations that mitigate any release into the environment. These laws have required, and are expected to continue to require, us to make significant expenditures of both a capital and expense nature. Several of the more significant federal laws applicable to our operations include the Clean Air Act, the Clean Water Act, the Comprehensive Environmental Response, Compensation and Liability Act, or CERCLA, and the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act. We have in place programs and personnel to monitor compliance with various federal, state, and local environmental regulations. In the normal course of our manufacturing operations, we are subject to governmental proceedings and orders pertaining to waste disposal, air emissions, and water discharges into the environment. We fund our environmental costs through cash flows from operations. We believe that we are in compliance with applicable environmental regulations in all material respects. We are required to remediate hazardous waste at our facilities. Currently, we own a designated site in Springfield, Massachusetts that contains two release areas, which are the focus of remediation projects as part of the Massachusetts Contingency Plan, or the MCP. The MCP provides a structured environment for the voluntary remediation of regulated releases. We may be required to remove hazardous waste or remediate the alleged effects of hazardous substances on the environment associated with past disposal practices at sites not owned by us. We have received notice that we are a potentially responsible party from the Environmental Protection Agency and/or individual states under CERCLA or a state equivalent at two sites. As of July 31, 2015 and April 30, 2015, respectively, we had recorded a $675,000 environmental reserve in non-current liabilities. We have calculated the net present value of the environmental reserve to be equal to the carrying value of the liability recorded on our books. Our estimate of these costs is based upon currently enacted laws and regulations, currently available facts, experience in remediation efforts, existing technology, and the ability of other potentially responsible parties or contractually liable parties to pay the allocated portions of any environmental obligations. When the available information is sufficient to estimate the amount of liability, that estimate has been used, when the information is only sufficient to establish a range of probable liability and no point within the range is more likely than any other, the lower end of the range has been used. We may not have insurance coverage for our environmental remediation costs. We have not recognized any gains from probable recoveries or other gain contingencies. The environmental reserve was calculated using undiscounted amounts based on independent environmental remediation reports obtained. On May 5, 2014, we acquired substantially all of the net assets of TTPP. Under the asset purchase agreement, the former stockholder of TTPP indemnified us for losses arising from, among other things, environmental conditions related to its manufacturing activities. Of the purchase price, $3.0 million was placed in an escrow account, of which $1.4 million remains available. A portion of the escrow will be applied to environmental remediation at the manufacturing site in Deep River, Connecticut. It is not presently possible to estimate the ultimate amount of all remediation costs and potential uses of the escrow. We believe the likelihood of environmental remediation costs exceeding the amount available in escrow to be remote. Based on information known to us, we do not expect current environmental regulations or environmental proceedings and claims to have a material adverse effect on our consolidated financial position, results of operations, or cash flows. However, it is not possible to predict with certainty the impact on us of future environmental compliance requirements or of the cost of resolution of future environmental health and safety proceedings and claims, in part because the scope of the remedies that may be required is not certain, liability under federal environmental laws is joint and several in nature, and environmental laws and regulations are subject to modification and changes in interpretation. There can be no assurance that additional or changing environmental regulation will not become more burdensome in the future and that any such development would not have a material adverse effect on our company.

Segment Information

Segment Information	3 Months Ended
	Jul. 31, 2015
Segment Reporting [Abstract]
Segment Information	(10) Segment Information: The firearms segment consists of products and services manufactured and sold from our Springfield, Massachusetts, Houlton, Maine, and Deep River, Connecticut facilities, which includes firearms, handcuffs, and other related products sold through a distribution chain and direct sales to consumers and international, state, and federal governments. The accessories segment consists of hunting and shooting accessories developed and marketed from our Columbia, Missouri facility. Operating costs are reported based on the activities performed within each segment. Segment assets are those directly used in or clearly allocable to an operating segment’s operations. Total assets for our firearms segment as of July 31, 2015 were $362.0 million. Included in the assets of our firearms segment are intangible assets totaling $3.4 million; property, plant, and equipment totaling $131.7 million; and goodwill totaling $13.8 million. Total assets for our accessories segment as of July 31, 2015 were $152.1 million. Included in the assets of the accessories segment are intangible assets totaling $67.1 million; property, plant, and equipment totaling $2.5 million; and goodwill totaling $62.3 million. Results by business segment are presented in the following table for the three months ended July 31, 2015 (in thousands): For the Three Months Ended July 31, 2015 (a) Firearms (b) Accessories (b) Total Net sales $ 134,431 $ 13,332 $ 147,763 Cost of sales 82,378 6,515 88,893 Gross margin 52,053 6,817 58,870 Operating income 28,917 900 (c) 29,817 Income tax expense 7,988 211 8,199 _________________ (a) We operated under one segment in the three month period ended July 31, 2014; thus, no comparative segment information is presented. (b) We allocate all of corporate overhead expenses, such as general and administrative expenses and other corporate-level expenses, to both our firearm and accessories segments. (c) Amount is net of $2.0 million of amortization of intangible assets identified as a result of the BTI Acquisition.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Jul. 31, 2015
Accounting Policies [Abstract]
Interim Financial Information	Interim Financial Information – The consolidated balance sheet as of July 31, 2015, the consolidated statements of income and comprehensive income for the three months ended July 31, 2015 and 2014, the consolidated statement of changes in stockholders’ equity for the three months ended July 31, 2015, and the consolidated statements of cash flows for the three months ended July 31, 2015 and 2014 have been prepared by us and are unaudited. In our opinion, all adjustments, which include only normal recurring adjustments necessary to fairly present the financial position, results of operations, changes in stockholders’ equity, and cash flows at July 31, 2015 and for the periods presented, have been included. All significant intercompany transactions have been eliminated in consolidation. The consolidated balance sheet as of April 30, 2015 has been derived from our audited consolidated financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended April 30, 2015. The results of operations for the three months ended July 31, 2015 may not be indicative of the results that may be expected for the year ending April 30, 2016, or any other period.
Recently Issued Accounting Standards	Recently Issued Accounting Standards – In April 2015, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2015-03, (Topic 835-30), which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this ASU. The disclosure requirements are effective for annual periods (and interim periods within those annual periods) beginning after December 15, 2015 and require retrospective application. We elected to early adopt ASU 2015-03. Accordingly, unamortized debt issuance costs of $3.0 million and $4.1 million as of July 31, 2015 and April 30, 2015, respectively, which were previously included in other assets, are included in notes payable in the accompanying consolidated balance sheets. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In July 2015, the FASB issued ASU 2015-11, Inventory - Simplifying the Measurement of Inventory

Acquisitions (Tables)

Acquisitions (Tables) - BTI Acquisition	3 Months Ended
	Jul. 31, 2015
Estimated Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the estimated allocation of the purchase price for BTI at the acquisition date, which includes the net assets from the Hooyman acquisition, as well as measurement period adjustments to date (in thousands): December 11, 2014 Measurement (As Initially Period December 11, 2014 Reported) Adjustments (As Adjusted) Cash $ 24 $ — $ 24 Accounts receivable 7,873 3 7,876 Inventories 12,819 107 12,926 Income tax receivable 393 (279 ) 114 Other current assets 563 — 563 Property, plant, and equipment 2,826 (318 ) 2,508 Intangibles 73,550 (1,000 ) 72,550 Goodwill 62,142 143 62,285 Total assets acquired 160,190 (1,344 ) 158,846 Accounts payable 1,647 2 1,649 Accrued expenses 326 16 342 Accrued payroll 904 — 904 Accrued taxes other than income 9 — 9 Deferred income taxes 21,128 (647 ) 20,481 Total liabilities assumed 24,014 (629 ) 23,385 $ 136,176 $ (715 ) $ 135,461
Identifiable Intangible Assets Acquired and Respective Estimated Lives	The following are the identifiable intangible assets acquired (in thousands) and their respective weighted average lives: Weighted Average Life Amount (In years) Developed technology $ 16,430 4.3 Customer relationships 25,280 4.4 Trade names 30,740 5.4 Order backlog 100 0.3 $ 72,550
Unaudited Pro Forma Results of Operations	Additionally, the following table reflects the unaudited pro forma results of operations assuming that the BTI Acquisition had occurred on May 1, 2014 (in thousands, except per share data): For the Three Months Ended July 31, 2014 Net sales $ 142,130 Income from operations 11,165 Income per share - diluted 0.20

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jul. 31, 2015
Inventory Disclosure [Abstract]
Summary of Inventories	The following table sets forth a summary of inventories, net of reserves, stated at lower of cost or market, as of July 31, 2015 and April 30, 2015 (in thousands): July 31, 2015 April 30, 2015 Finished goods $ 42,467 $ 28,240 Finished parts 34,152 34,269 Work in process 7,406 7,492 Raw material 6,061 6,894 Total inventories $ 90,086 $ 76,895

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Jul. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of intangible assets	The following table presents a summary of intangible assets as of July 31, 2015 and April 30, 2015 (in thousands): July 31, 2015 April 30, 2015 Gross Gross Carrying Accumulated Net Carrying Accumulated Net Carrying Amount Amortization Amount Amount Amortization Amount Customer relationships $ 27,860 $ (2,813 ) $ 25,047 $ 28,260 $ (1,633 ) $ 26,627 Developed technology 16,430 (1,327 ) 15,103 16,630 (1,014 ) 15,616 Patents, trademarks, and tradenames 35,804 (5,959 ) 29,845 36,380 (5,303 ) 31,077 80,094 (10,099 ) 69,995 81,270 (7,950 ) 73,320 Patents in progress 541 — 541 448 — 448 $ 80,635 $ (10,099 ) $ 70,536 $ 81,718 $ (7,950 ) $ 73,768
Schedule of future expected amortization expense	Estimated amortization expense of intangible assets for the remainder of fiscal 2016 and succeeding fiscal years is as follows: Fiscal Amount 2016 $ 8,446 2017 10,480 2018 9,735 2019 8,547 2020 7,399 Thereafter 25,388 Total $ 69,995

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Jul. 31, 2015
Equity [Abstract]
Reconciliation of Net Income Amounts and Weighted Average Number of Common and Common Equivalent Shares Used to Determine Basic and Diluted Earnings per Share	The following table provides a reconciliation of the net income amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings per share for the three months ended July 31, 2015 and 2014 (in thousands, except per share data): For the Three Months Ended July 31, 2015 2014 Net Per Share Net Per Share Income Shares Amount Income Shares Amount Basic earnings $ 14,412 54,218 $ 0.27 $ 14,556 54,829 $ 0.27 Effect of dilutive stock awards — 1,259 (0.01 ) — 1,316 (0.01 ) Diluted earnings $ 14,412 55,477 $ 0.26 $ 14,556 56,145 $ 0.26
Share Based Compensation Stock Options Activity	The number of shares and weighted average exercise prices of options for the three months ended July 31, 2015 and 2014 were as follows: For the Three Months Ended July 31, 2015 2014 Weighted- Weighted- Average Average Shares Exercise Price Shares Exercise Price Options outstanding, beginning of year 1,879,630 $ 6.37 2,258,349 $ 6.15 Exercised during the period (132,599 ) 4.78 (99,554 ) 4.25 Options outstanding, end of period 1,747,031 $ 6.49 2,158,795 $ 6.24 Weighted average remaining contractual life 5.04 years 5.82 years Options exercisable, end of period 1,745,865 $ 6.48 1,892,631 $ 6.23 Weighted average remaining contractual life 5.04 years 5.60 years
Summary of Activity in Unvested RSUs and PSUs	A summary of activity in unvested RSUs and PSUs for the three months ended July 31, 2015 and 2014 is as follows: For the Three Months Ended July 31, 2015 2014 Weighted Weighted Total # of Average Total # of Average Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value RSUs and PSUs outstanding, beginning of year 1,190,879 $ 12.45 1,015,475 $ 10.56 Awarded 245,594 14.27 164,600 13.00 Vested (274,143 ) 10.53 (117,004 ) 10.76 Forfeited (65,913 ) 10.16 (3,699 ) 10.98 RSUs and PSUs outstanding, end of period 1,096,417 $ 13.36 1,059,372 $ 11.93

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Jul. 31, 2015
Segment Reporting [Abstract]
Schedule of Results by Business Segment	Results by business segment are presented in the following table for the three months ended July 31, 2015 (in thousands): For the Three Months Ended July 31, 2015 (a) Firearms (b) Accessories (b) Total Net sales $ 134,431 $ 13,332 $ 147,763 Cost of sales 82,378 6,515 88,893 Gross margin 52,053 6,817 58,870 Operating income 28,917 900 (c) 29,817 Income tax expense 7,988 211 8,199 _________________ (a) We operated under one segment in the three month period ended July 31, 2014; thus, no comparative segment information is presented. (b) We allocate all of corporate overhead expenses, such as general and administrative expenses and other corporate-level expenses, to both our firearm and accessories segments. (c) Amount is net of $2.0 million of amortization of intangible assets identified as a result of the BTI Acquisition.

Organization - Additional Infor

Organization - Additional Information (Detail)	3 Months Ended
	Jul. 31, 2015
DRP Acquisition
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Business acquisition agreement date	May 5, 2014
BTI Acquisition
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Business acquisition agreement date	Dec. 11, 2014

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - USD ($) $ in Millions	Jul. 31, 2015	Apr. 30, 2015
Accounting Policies [Abstract]
Decrease in other assets and other long-term liabilities as a result of adopting ASU	$ (3)	$ (4.1)

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($)	Jan. 09, 2015	Dec. 11, 2014	May. 05, 2014	Jul. 31, 2015	Apr. 30, 2015
Business Acquisition [Line Items]
Goodwill deductible for tax purpose				$ 12,000,000
DRP Acquisition
Business Acquisition [Line Items]
Payments to acquire business, excluding working capital adjustment			$ 22,800,000
Working capital adjustment			1,000,000
Payments to acquire business, net of cash acquired			$ 23,800,000
BTI Acquisition
Business Acquisition [Line Items]
Payments to acquire business, excluding working capital adjustment		$ 130,500,000
Working capital adjustment		3,100,000
Payments to acquire business, net of cash acquired				135,500,000
Acquisition payment made through line of credit		100,000,000
Increase in goodwill				$ 631,000
Business combination, acquisition-related costs					$ 1,700,000
B T I Acquisition Excluding Hooyman Llc
Business Acquisition [Line Items]
Payments to acquire business, net of cash acquired		$ 133,600,000
Hooyman LLC
Business Acquisition [Line Items]
Payments to acquire business, net of cash acquired	$ 1,900,000

Acquisitions - Summary of Busin

Acquisitions - Summary of Business Acquisitions Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Jul. 31, 2015	Apr. 30, 2015	Dec. 11, 2014
Business Acquisition [Line Items]
Goodwill	$ 76,057	$ 75,426
BTI Acquisition
Business Acquisition [Line Items]
Cash			$ 24
Accounts receivable			7,876
Inventories			12,926
Income tax receivable			114
Other current assets			563
Property, plant, and equipment			2,508
Intangibles			72,550
Goodwill			62,285
Total assets acquired			158,846
Accounts payable			1,649
Accrued expenses			342
Accrued payroll			904
Accrued taxes other than income			9
Deferred income taxes			20,481
Total liabilities assumed			23,385
Net assets acquired			135,461
BTI Acquisition | As Initially Reported
Business Acquisition [Line Items]
Cash			24
Accounts receivable			7,873
Inventories			12,819
Income tax receivable			393
Other current assets			563
Property, plant, and equipment			2,826
Intangibles			73,550
Goodwill			62,142
Total assets acquired			160,190
Accounts payable			1,647
Accrued expenses			326
Accrued payroll			904
Accrued taxes other than income			9
Deferred income taxes			21,128
Total liabilities assumed			24,014
Net assets acquired			136,176
BTI Acquisition | Measurement Period Adjustments
Business Acquisition [Line Items]
Accounts receivable			3
Inventories			107
Income tax receivable			(279)
Property, plant, and equipment			(318)
Intangibles			(1,000)
Goodwill			143
Total assets acquired			(1,344)
Accounts payable			2
Accrued expenses			16
Deferred income taxes			(647)
Total liabilities assumed			(629)
Net assets acquired			$ (715)

Acquisitions - Identifiable Int

Acquisitions - Identifiable Intangible Assets Acquired and Respective Estimated Lives (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2015	Apr. 30, 2015
Acquired Finite Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 80,094	$ 81,270
Weighted average life	6 years
Developed technology
Acquired Finite Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 16,430	16,630
Weighted average life	6 years
Customer relationships
Acquired Finite Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 27,860	$ 28,260
Weighted average life	5 years
BTI Acquisition
Acquired Finite Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 72,550
BTI Acquisition | Developed technology
Acquired Finite Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 16,430
Weighted average life	4 years 3 months 18 days
BTI Acquisition | Customer relationships
Acquired Finite Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 25,280
Weighted average life	4 years 4 months 24 days
BTI Acquisition | Trade names
Acquired Finite Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 30,740
Weighted average life	5 years 4 months 24 days
BTI Acquisition | Order backlog
Acquired Finite Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 100
Weighted average life	3 months 18 days

Acquisitions - Unaudited Pro Fo

Acquisitions - Unaudited Pro Forma Results of Operations (Detail) - 3 months ended Jul. 31, 2014 - BTI Acquisition - USD ($) $ / shares in Units, $ in Thousands	Total
Business Acquisition [Line Items]
Net sales	$ 142,130
Income from operations	$ 11,165
Income per share - diluted	$ 0.20

Notes Payable - Additional Info

Notes Payable - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Jul. 31, 2015	Apr. 30, 2015	Jul. 06, 2015	Jun. 18, 2015	Jun. 15, 2015
Debt Instrument [Line Items]
Credit facility, maturity	Jun. 15, 2020
Interest description of revolving line of credit	The Revolving Line provides for availability until June 15, 2020 for general corporate purposes, and borrowings bear interest at a variable rate equal to LIBOR or prime plus an applicable margin based on our consolidated leverage ratio, at our election.
Percentage of interest rate protection on term loan				75.00%
Fair value of the interest rate swap liability	$ 181,000
Senior Notes Indenture, number of shares allowed for repurchase	$ 50,000,000
Maximum consolidated coverage ratio	300.00%
Minimum consolidated coverage ratio	100.00%
Term Loan
Debt Instrument [Line Items]
Outstanding debt					$ 105,000,000
Principal payments per annum					6,300,000
Debt Issuance Cost	$ 918,000
5.875% Senior notes due 2017
Debt Instrument [Line Items]
Outstanding debt	$ 100,000,000
Debt instrument, interest rate	5.875%
Debt instrument call premium value	$ 2,900,000
Unamortized debt-issuance costs	$ 1,700,000
5.000% Senior Notes due 2018
Debt Instrument [Line Items]
Debt instrument, interest rate	5.00%	5.00%
Debt Issuance Cost		$ 2,300,000
Notes issued		$ 75,000,000
Debt Instrument Maturity Date	Jul. 15, 2018
Senior Notes Indenture, maximum number of shares allowed for repurchase as a percentage of Consolidated net income for previous four consecutive published fiscal quarters	75.00%
5.000% Senior Notes due 2018 | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Description of redemption for senior notes	(a) upon not less than 30 nor more than 60 days’ prior notice, redeem all or a portion of the 5.000% Senior Notes at the redemption price of 100% of the principal amount of the 5.000% Senior Notes, plus an applicable premium, plus accrued and unpaid interest as of the redemption date; or (b) redeem up to 35% of the aggregate principal amount of the 5.000% Senior Notes with the net cash proceeds of one or more equity offerings at a redemption price of 105.000% of the principal amount of the 5.000% Senior Notes, plus accrued and unpaid interest as of the redemption date; provided, that in the case of the foregoing clause, at least 65% of the aggregate original principal amount of the 5.000% Senior Notes remains outstanding, and the redemption occurs within 60 days after the closing of the equity offering.
5.000% Senior Notes due 2018 | Debt Instrument, Redemption, Period One | Debt Instrument Redemption Scenario One
Debt Instrument [Line Items]
Redemption price of senior notes	100.00%
Percentage of principal amount that remains outstanding	65.00%
5.000% Senior Notes due 2018 | Debt Instrument, Redemption, Period One | Debt Instrument Redemption Scenario Two
Debt Instrument [Line Items]
Redemption price of senior notes	105.00%
Percentage of redeem notes	35.00%
5.000% Senior Notes due 2018 | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Description of redemption for senior notes	upon not less than 30 nor more than 60 days’ prior notice, redeem all or a portion of the 5.000% Senior Notes at a redemption price of (a) 102.500% of the principal amount of the 5.000% Senior Notes to be redeemed, if redeemed during the 12-month period beginning on July 15, 2016; or (b) 100% of the principal amount of the 5.000% Senior Notes to be redeemed, if redeemed during the 12-month period beginning on July 15, 2017, plus, in either case, accrued and unpaid interest on the 5.000% Senior Notes as of the applicable redemption date
5.000% Senior Notes due 2018 | Debt Instrument, Redemption, Period Two | Debt Instrument Redemption Scenario One
Debt Instrument [Line Items]
Redemption price of senior notes	102.50%
5.000% Senior Notes due 2018 | Debt Instrument, Redemption, Period Two | Debt Instrument Redemption Scenario Two
Debt Instrument [Line Items]
Redemption price of senior notes	100.00%
5.000% Senior Notes due 2018 | Minimum
Debt Instrument [Line Items]
Senior Notes Indenture, number of shares allowed for repurchase	$ 50,000,000
5.000% Senior Notes due 2018 | Minimum | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Notice period of senior notes	30 days
5.000% Senior Notes due 2018 | Minimum | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Notice period of senior notes	30 days
5.000% Senior Notes due 2018 | Maximum
Debt Instrument [Line Items]
Senior Notes Indenture, number of shares allowed for repurchase	$ 75,000,000
5.000% Senior Notes due 2018 | Maximum | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Notice period of senior notes	60 days
5.000% Senior Notes due 2018 | Maximum | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Notice period of senior notes	60 days
Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, borrowing capacity					$ 175,000,000
Credit Facilities
Debt Instrument [Line Items]
Borrowings outstanding	$ 0
Outstanding letters of credit	$ 1,000,000
Prime Rate Option | Credit Facilities
Debt Instrument [Line Items]
Interest rate on borrowings	3.75%
LIBOR Rate Option | Term Loan
Debt Instrument [Line Items]
Interest rate on borrowings	1.9384%
LIBOR Rate Option | Credit Facilities | Minimum
Debt Instrument [Line Items]
Interest rate on borrowings	1.94%
LIBOR Rate Option | Credit Facilities | Maximum
Debt Instrument [Line Items]
Interest rate on borrowings	2.04%
Interest Rate Swap
Debt Instrument [Line Items]
Percentage of floating rate debt covered				100.00%
Derivative, Notional Amount				$ 105,000,000
Derivative, Maturity Date	Jun. 15, 2020
Derivative, Fixed Interest Rate			1.56%
Derivative, Variable Interest Rate Of one-month LIBOR			0.188%
Interest Rate Swap | Term Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage	3.31%

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Detail) - USD ($)	Jul. 31, 2015	Apr. 30, 2015
5.000% Senior Notes due 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt instrument, interest rate	5.00%	5.00%
(Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	$ 55,400,000	$ 42,200,000
(Level 2) | Interest Rate Swap
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value of the interest rate swap	$ 181,000

Summary of Inventories (Detail)

Summary of Inventories (Detail) - USD ($) $ in Thousands	Jul. 31, 2015	Apr. 30, 2015
Inventory Disclosure [Abstract]
Finished goods	$ 42,467	$ 28,240
Finished parts	34,152	34,269
Work in process	7,406	7,492
Raw material	6,061	6,894
Total inventories	$ 90,086	$ 76,895

Summary of Intangible Assets (D

Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Jul. 31, 2015	Apr. 30, 2015
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets, Gross Carrying Amount	$ 80,094	$ 81,270
Finite lived intangible assets, Accumulated Amortization	(10,099)	(7,950)
Finite lived intangible assets, Net Carrying Amount	69,995	73,320
Intangible assets, Gross Carrying Amount	80,635	81,718
Intangible assets, Net Carrying Amount	70,536	73,768
Patents in progress
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets, Net Carrying Amount	541	448
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets, Gross Carrying Amount	27,860	28,260
Finite lived intangible assets, Accumulated Amortization	(2,813)	(1,633)
Finite lived intangible assets, Net Carrying Amount	25,047	26,627
Developed technology
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets, Gross Carrying Amount	16,430	16,630
Finite lived intangible assets, Accumulated Amortization	(1,327)	(1,014)
Finite lived intangible assets, Net Carrying Amount	15,103	15,616
Patents, trademarks, and tradenames
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets, Gross Carrying Amount	35,804	36,380
Finite lived intangible assets, Accumulated Amortization	(5,959)	(5,303)
Finite lived intangible assets, Net Carrying Amount	$ 29,845	$ 31,077

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Weighted-average period for amortization of intangible assets	6 years
Amortization expense of intangible assets	$ 2,200,000	$ 161,000
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-average period for amortization of intangible assets	5 years
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted-average period for amortization of intangible assets	6 years
Patents, trademarks, and tradenames
Finite-Lived Intangible Assets [Line Items]
Weighted-average period for amortization of intangible assets	5 years

Intangible Assets - Schedule of

Intangible Assets - Schedule of Future Expected Amortization Expense (Detail) - USD ($) $ in Thousands	Jul. 31, 2015	Apr. 30, 2015
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets, Net Carrying Amount	$ 69,995	$ 73,320
Accessories
Finite-Lived Intangible Assets [Line Items]
2,016	8,446
2,017	10,480
2,018	9,735
2,019	8,547
2,020	7,399
Thereafter	25,388
Finite lived intangible assets, Net Carrying Amount	$ 69,995

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	3 Months Ended		12 Months Ended
	Jul. 31, 2015USD ($)OptionPlanshares	Jul. 31, 2014USD ($)shares	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Senior Notes Indenture, number of shares allowed for repurchase | $	$ 50,000,000
Repurchase of common stock	0
Number of stock option plans | OptionPlan	2
Intrinsic value of stock outstanding | $	$ 17,000,000	$ 13,800,000
Intrinsic value of stock exercisable | $	17,000,000	12,200,000
Intrinsic value of stock exercised | $	1,400,000	1,000,000
Unrecognized compensation cost of outstanding options | $	0
Stock-based compensation expense | $	$ 1,545,000	$ 1,579,000
Performance period	3 years
Percentage of maximum aggregate award granted	200.00%
Percentage of stock outperform in order for target award to vest			5.00%	10.00%	10.00%
2013 Incentive Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of award vested exercisable	10 years
Minimum | 2013 Incentive Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period to award vested and calculate volatility rate	3 years
Maximum | 2013 Incentive Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period to award vested and calculate volatility rate	4 years
2011 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock issuable with antidilutive effect		5,305
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded		164,600
Stock units, forfeited	46,663
RSUs | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded		159,600
RSUs | Non-Executive Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded	163,984
RSUs | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded		5,000
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded	104,000
Stock units, forfeited	19,250
Share based payment award percentage of award achieved	173.30%
PSUs | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, vested	180,231
PSUs | Non-Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded	5,379
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded	245,594	164,600
Stock units, forfeited	65,913	3,699
Stock units, vested	274,143	117,004
Stock-based compensation expense | $	$ 1,400,000	$ 1,300,000
Value of shares issued for vested awards | $	$ 4,500,000	$ 1,600,000
Weighted average remaining contractual term	1 year 9 months 18 days
Unrecognized compensation cost related to unvested RSUs and PSUs | $	$ 8,100,000
RSUs and PSUs | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, vested	274,143	117,004

Reconciliation of Net Income Am

Reconciliation of Net Income Amounts and Weighted Average Number of Common and Common Equivalent Shares Used to Determine Basic and Diluted Earnings per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Earnings Per Share [Abstract]
Net income	$ 14,412	$ 14,556
Basic earnings, Shares	54,218	54,829
Effect of dilutive stock awards, Shares	1,259	1,316
Diluted earnings, Shares	55,477	56,145
Basic	$ 0.27	$ 0.27
Effect of dilutive stock awards	(0.01)	(0.01)
Diluted earnings	$ 0.26	$ 0.26

Share Based Compensation Stock

Share Based Compensation Stock Options Activity (Detail) - $ / shares	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Number of shares and weighted average exercise prices
Options outstanding, beginning of year, Shares	1,879,630	2,258,349
Exercised during the period, Shares	(132,599)	(99,554)
Options outstanding, end of period, Shares	1,747,031	2,158,795
Weighted average remaining contractual life	5 years 15 days	5 years 9 months 26 days
Options exercisable, end of period, Shares	1,745,865	1,892,631
Weighted average remaining contractual life	5 years 15 days	5 years 7 months 6 days
Weighted-Average Exercise Price
Options outstanding, beginning of year, Weighted-Average Exercise Price	$ 6.37	$ 6.15
Exercised during period, Weighted-Average Exercise Price	4.78	4.25
Options outstanding, end of period, Weighted-Average Exercise Price	6.49	6.24
Options exercisable, end of period, Weighted-Average Exercise Price	$ 6.48	$ 6.23

Summary of Activity in Unvested

Summary of Activity in Unvested RSUs and PSUs (Detail) - RSUs and PSUs - $ / shares	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Summary of activity in unvested restricted stock units and performance share units
Restricted Stock Units, RSUs and PSUs outstanding, beginning of year	1,190,879	1,015,475
Restricted Stock Units, Awarded	245,594	164,600
Restricted Stock Units, Vested	(274,143)	(117,004)
Restricted Stock Units, Forfeited	(65,913)	(3,699)
Restricted Stock Units, RSUs and PSUs outstanding, end of period	1,096,417	1,059,372
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, RSUs and PSUs outstanding, beginning of year	$ 12.45	$ 10.56
Weighted Average Grant Date Fair Value, Awarded	14.27	13
Weighted Average Grant Date Fair Value, Vested	10.53	10.76
Weighted Average Grant Date Fair Value, Forfeited	10.16	10.98
Weighted Average Grant Date Fair Value, RSUs and PSUs outstanding, end of period	$ 13.36	$ 11.93

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	3 Months Ended
	Jul. 31, 2015USD ($)CaseClaim	Apr. 30, 2015USD ($)	May. 05, 2014USD ($)
Schedule Of Commitments And Contingencies [Line Items]
Number of Product liability cases | Case	7
Number of Other product liability claims | Claim	8
Insurance recovery as a result of an insurance settlement agreement	$ 1,800,000
Environmental reserve in non-current liabilities	675,000	$ 675,000
Amount placed in escrow			$ 3,000,000
Escrow deposit, remaining amount			$ 1,400,000
Minimum
Schedule Of Commitments And Contingencies [Line Items]
Compensatory damages sought	75,000
Maximum
Schedule Of Commitments And Contingencies [Line Items]
Compensatory damages sought	$ 1,500,000

Segment Information - Additiona

Segment Information - Additional Information (Detail) - USD ($) $ in Thousands	Jul. 31, 2015	Apr. 30, 2015
Segment Reporting Information [Line Items]
Property, plant, and equipment, net	$ 134,184	$ 133,844
Goodwill	76,057	75,426
Total assets	514,095	$ 490,925
Firearms Division
Segment Reporting Information [Line Items]
Intangible assets	3,400
Property, plant, and equipment, net	131,700
Goodwill	13,800
Total assets	362,000
Accessories Division
Segment Reporting Information [Line Items]
Intangible assets	67,100
Property, plant, and equipment, net	2,500
Goodwill	62,300
Total assets	$ 152,100

Segment Information - Schedule

Segment Information - Schedule of Results by Business Segment (Detail) - USD ($) $ in Thousands		3 Months Ended
		Jul. 31, 2015		Jul. 31, 2014
Segment Reporting Information [Line Items]
Net sales		$ 147,763	[1]	$ 131,869
Cost of sales		88,893	[1]	82,751
Gross margin		58,870	[1]	49,118
Operating income		29,817	[1]	25,675
Income tax expense		8,199	[1]	$ 9,153
Firearms Division
Segment Reporting Information [Line Items]
Net sales	[1],[2]	134,431
Cost of sales	[1],[2]	82,378
Gross margin	[1],[2]	52,053
Operating income	[1],[2]	28,917
Income tax expense	[1],[2]	7,988
Accessories Division
Segment Reporting Information [Line Items]
Net sales	[1],[2]	13,332
Cost of sales	[1],[2]	6,515
Gross margin	[1],[2]	6,817
Operating income	[1],[2],[3]	900
Income tax expense	[1],[2]	$ 211
[1]	We operated under one segment in the three month period ended July 31, 2014; thus, no comparative segment information is presented.
[2]	We allocate all of corporate overhead expenses, such as general and administrative expenses and other corporate-level expenses, to both our firearm and accessories segments.
[3]	Amount is net of $2.0 million of amortization of intangible assets identified as a result of the BTI Acquisition.

Segment Information - Schedul42

Segment Information - Schedule of Results by Business Segment (Parenthetical) (Detail)	3 Months Ended
	Jul. 31, 2015USD ($)Segment	Jul. 31, 2014USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment	1
Amortization of intangible assets	$ 2,200,000	$ 161,000
BTI Acquisition
Segment Reporting Information [Line Items]
Amortization of intangible assets	$ 2,000,000