Smith & Wesson Brands (SWBI) 10-Q 8 Dec 15 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Oct. 31, 2015	Dec. 04, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
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		54,558,379

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 31, 2015	Apr. 30, 2015
Current assets:
Cash and cash equivalents	$ 54,064	$ 42,222
Accounts receivable, net of allowance for doubtful accounts of $669 on October 31, 2015 and $722 on April 30, 2015	50,153	55,280
Inventories	100,897	76,895
Prepaid expenses and other current assets	6,893	6,306
Deferred income taxes	16,373	16,373
Income tax receivable	6,476
Total current assets	234,856	197,076
Property, plant, and equipment, net	138,396	133,844
Intangibles, net	67,803	73,768
Goodwill	76,057	75,426
Other assets	6,704	10,811
Assets, Total	523,816	490,925
Current liabilities:
Accounts payable	31,338	32,360
Accrued expenses	20,707	19,021
Accrued payroll	13,428	7,556
Accrued income taxes		4,224
Accrued taxes other than income	4,599	5,281
Accrued profit sharing	3,652	6,165
Accrued warranty	6,220	6,404
Current portion of notes payable	6,300
Total current liabilities	86,244	81,011
Deferred income taxes	33,341	33,905
Notes payable, net of current portion and debt issuance costs	169,282	170,933
Other non-current liabilities	9,618	10,706
Total liabilities	$ 298,485	$ 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, 70,118,491 shares issued and 54,555,869 shares outstanding on October 31, 2015 and 69,625,081 shares issued and 54,062,459 shares outstanding on April 30, 2015	$ 70	$ 70
Additional paid-in capital	223,587	219,198
Retained earnings	174,230	147,352
Accumulated other comprehensive (loss)/income	(233)	73
Treasury stock, at cost (15,562,622 shares on October 31, 2015 and April 30, 2015)	(172,323)	(172,323)
Total stockholders’ equity	225,331	194,370
Liabilities and Equity, Total	$ 523,816	$ 490,925

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Oct. 31, 2015	Apr. 30, 2015
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 669	$ 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	70,118,491	69,625,081
Common stock, shares outstanding	54,555,869	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			6 Months Ended
	Oct. 31, 2015		Oct. 31, 2014	Oct. 31, 2015		Oct. 31, 2014
Income Statement [Abstract]
Net sales	$ 143,242	[1]	$ 108,446	$ 291,005	[1]	$ 240,315
Cost of sales	87,027	[1]	73,606	175,920	[1]	156,357
Gross profit	56,215	[1]	34,840	115,085	[1]	83,958
Operating expenses:
Research and development	2,695		1,473	5,091		2,929
Selling and marketing	12,536		8,850	21,754		16,797
General and administrative	19,202		13,743	36,640		27,783
Total operating expenses	34,433		24,066	63,485		47,509
Operating income	21,782	[1]	10,774	51,600	[1]	36,449
Other (expense)/income:
Other (expense)/income, net	(5)		(11)	(12)		(17)
Interest income	27		20	77		44
Interest expense	(2,323)		(2,914)	(9,573)		(4,898)
Total other (expense)/income, net	(2,301)		(2,905)	(9,508)		(4,871)
Income before income taxes	19,481		7,869	42,092		31,578
Income tax expense	7,015	[1]	2,819	15,214	[1]	11,972
Net income	12,466		5,050	26,878		19,606
Comprehensive income:
Change in unrealized loss on interest rate swap	(302)			(483)
Other comprehensive loss, before income taxes	(302)			(483)
Income tax benefit on other comprehensive loss	112			177
Other comprehensive loss, net of tax	(190)			(306)
Comprehensive income	$ 12,276		$ 5,050	$ 26,572		$ 19,606
Net income per share:
Basic	$ 0.23		$ 0.09	$ 0.49		$ 0.36
Diluted	$ 0.22		$ 0.09	$ 0.48		$ 0.35
Weighted average number of common shares outstanding:
Basic	54,447		53,545	54,333		54,188
Diluted	55,668		54,651	55,621		55,435
[1]	We operated under one segment in the three and six month periods ended October 31, 2014; thus, no comparative segment information is presented.

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity - 6 months ended Oct. 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	54,062,459	69,625,000
Treasury stock, shares at Apr. 30, 2015	15,562,622					15,563,000
Proceeds from exercise of employee stock options	$ 988		988
Proceeds from exercise of employee stock options (in shares)	182,498	183,000
Repurchase of common stock (in shares)	0
Stock-based compensation	$ 3,247		3,247
Excess tax benefit for stock-based compensation	1,074		1,074
Shares issued under employee stock purchase plan	$ 770		770
Shares issued under employee stock purchase plan (in shares)	92,249	92,000
Change in unrealized loss on interest rate swap, net of tax effect	$ (306)				(306)
Issuance of common stock under restricted stock unit awards, net of shares surrendered	(1,690)		(1,690)
Issuance of common stock under restricted stock unit awards, net of shares surrendered (in shares)		219,000
Net income	26,878			26,878
Balance at Oct. 31, 2015	$ 225,331	$ 70	$ 223,587	$ 174,230	$ (233)	$ (172,323)
Balance (in shares) at Oct. 31, 2015	54,555,869	70,119,000
Treasury stock, shares at Oct. 31, 2015	15,562,622					15,563,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Cash flows from operating activities:
Net income	$ 26,878	$ 19,606
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:
Depreciation and amortization	21,066	12,983
Loss/(gain) on sale/disposition of assets	19	(86)
Provision for/(recoveries on) losses on accounts receivable	(72)	230
Stock-based compensation expense	3,247	2,801
Changes in operating assets and liabilities (net effect of acquisitions):
Accounts receivable	5,199	6,873
Inventories	(24,002)	(9,622)
Prepaid expenses and other current assets	(587)	(2,786)
Income tax payable	(10,700)	397
Accounts payable	(1,022)	(14,206)
Accrued payroll	5,872	(9,012)
Accrued taxes other than income	(682)	(988)
Accrued profit sharing	(2,513)	(8,560)
Accrued expenses	1,671	(1,058)
Accrued warranty	(184)	(459)
Other assets	(156)	(137)
Other non-current liabilities	(1,273)	596
Net cash provided by/(used in) operating activities	22,761	(3,428)
Cash flows from investing activities:
Refunds of deposits on machinery and equipment	4,222	1,204
Receipts from note receivable	41	40
Payments to acquire patents and software	(136)	(84)
Proceeds from sale of property and equipment	61	225
Payments to acquire property and equipment	(18,352)	(21,200)
Net cash used in investing activities	(14,164)	(43,910)
Cash flows from financing activities:
Proceeds from loans and notes payable	105,000	75,000
Cash paid for debt issuance costs	(1,024)	(2,333)
Payments on capital lease obligation	(298)	(298)
Payments on notes payable	(101,575)
Payments to acquire treasury stock		(30,040)
Proceeds from exercise of options to acquire common stock, including employee stock purchase plan	1,758	1,432
Payroll taxes paid as a result of restricted stock unit withholdings	(1,690)	(1,107)
Excess tax benefit of stock-based compensation	1,074	197
Net cash provided by financing activities	3,245	42,851
Net increase/(decrease) in cash and cash equivalents	11,842	(4,487)
Cash and cash equivalents, beginning of period	42,222	68,860
Cash and cash equivalents, end of period	54,064	64,373
Supplemental disclosure of cash flow information Cash paid for:
Interest	9,271	3,106
Income taxes	$ 24,936	11,682
Tri Town Precision Plastics Inc
Cash flows from investing activities:
Payments to acquire business, net of cash acquired		$ (24,095)

Organization

Organization	6 Months Ended
	Oct. 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. As a result of an acquisition, 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	6 Months Ended
	Oct. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	(2) Basis of Presentation: Interim Financial Information – The consolidated balance sheet as of October 31, 2015, the consolidated statements of income and comprehensive income for the three and six months ended October 31, 2015 and 2014, the consolidated statement of changes in stockholders’ equity for the six months ended October 31, 2015, and the consolidated statements of cash flows for the six months ended October 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 October 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, or GAAP, 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 six months ended October 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 $4.1 million as of April 30, 2015, 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 In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments, In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes,

Acquisitions

Acquisitions	6 Months Ended
	Oct. 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. Based in Columbia, Missouri, BTI 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, which we refer to as the Hooyman Acquisition. 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 herein are subject to further adjustments as we obtain additional information during the measurement period, which will not exceed 12 months from the acquisition date. During the six months ended October 31, 2015, goodwill was increased by $631,000 primarily as a result of reductions 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. There were no acquisition-related costs relating to the BTI Acquisition for the six months ended October 31, 2015 and 2014. 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 estimated life during which the backlog is fulfilled. 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 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 For the Six Months Ended Months Ended October 31, 2014 October 31, 2014 Net sales $ 122,895 $ 265,311 Net income 5,472 17,444 Net income per share - diluted 0.10 0.31 The unaudited pro forma net income for the three and six months ended October 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.

Goodwill

Goodwill	6 Months Ended
	Oct. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	(4) Goodwill The changes in the carrying amount of goodwill for the six month period ended October 31, 2015 by reporting segment are as follows: Firearms Accessories Total Division Division Goodwill Balance as of April 30, 2015 $ 13,770 $ 61,656 $ 75,426 Measurement period adjustments — 631 631 Balance as of October 31, 2015 $ 13,770 $ 62,287 $ 76,057 Refer to Note 11 – Segment Information

Notes Payable

Notes Payable	6 Months Ended
	Oct. 31, 2015
Debt Disclosure [Abstract]
Notes Payable	(5) Notes Payable: Credit Facilities – On June 15, 2015, we entered into a new unsecured credit facility, or the Credit Agreement, 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. The Revolving Line provides for availability until June 15, 2020 for general corporate purposes, with borrowings to 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 October 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 2.07% 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 1.945% based on the one-month LIBOR rate at October 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, payable quarterly. Any remaining outstanding amount on the maturity date of June 15, 2020 will be due in full. Concurrent with closing the Term Loan, we redeemed our 5.875% Senior Notes 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 $1.0 million 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, which expires on June 15, 2020, that covered 100% of the $105.0 million of floating rate debt. 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., unrealized 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 October 31, 2015, the interest rate swap was considered effective and had no effect on earnings. The fair value of the interest rate swap on October 31, 2015 was a liability of $483,000 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. As of October 31, 2015, the effective interest rate of our Term Loan was 3.31%. 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 a 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 October 31, 2015, we had outstanding letters of credit under our credit facility aggregating $1.0 million.

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Oct. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurement	(6) 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 $54.1 million and $42.2 million as of October 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 that trade infrequently); · inputs other than quoted prices that are observable for substantially the full term of the asset or liability (such as 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 October 31, 2015 approximates fair value in considering Level 2 inputs within the hierarchy. The fair value of the interest rate swap of $483,000 as of October 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	6 Months Ended
	Oct. 31, 2015
Inventory Disclosure [Abstract]
Inventories	(7) Inventories: The following table sets forth a summary of inventories, net of reserves, stated at lower of cost or market, as of October 31, 2015 and April 30, 2015 (in thousands): October 31, 2015 April 30, 2015 Finished goods $ 54,736 $ 28,240 Finished parts 29,507 34,269 Work in process 8,244 7,492 Raw material 8,410 6,894 Total inventories $ 100,897 $ 76,895

Intangible Assets

Intangible Assets	6 Months Ended
	Oct. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	(8) Intangible Assets: The following table presents a summary of intangible assets as of October 31, 2015 and April 30, 2015 (in thousands): October 31, 2015 April 30, 2015 Gross Gross Carrying Accumulated Net Carrying Accumulated Net Carrying Amount Amortization Amount Amount Amortization Amount Customer relationships $ 27,860 $ (4,006 ) $ 23,854 $ 28,260 $ (1,633 ) $ 26,627 Developed technology 16,430 (1,848 ) 14,582 16,630 (1,014 ) 15,616 Patents, trademarks, and tradenames 35,934 (7,062 ) 28,872 36,380 (5,303 ) 31,077 80,224 (12,916 ) 67,308 81,270 (7,950 ) 73,320 Patents in progress 495 — 495 448 — 448 $ 80,719 $ (12,916 ) $ 67,803 $ 81,718 $ (7,950 ) $ 73,768 Intangible assets with determinable lives are 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 $2.8 million and $376,000 for the three months ended October 31, 2015 and 2014, respectively. Amortization expense, excluding amortization of deferred financing costs, amounted to $5.1 million and $537,000 for the six months ended October 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 $ 5,634 2017 10,487 2018 9,741 2019 8,554 2020 7,405 Thereafter 25,487 Total $ 67,308 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 six months ended October 31, 2015 and therefore intangible assets were not tested for impairment.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Oct. 31, 2015
Equity [Abstract]
Stockholders' Equity	(9) 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 October 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 and six months ended October 31, 2015 and 2014 (in thousands, except per share data): For the Three Months Ended October 31, 2015 2014 Net Per Share Net Per Share Income Shares Amount Income Shares Amount Basic earnings $ 12,466 54,447 $ 0.23 $ 5,050 53,545 $ 0.09 Effect of dilutive stock awards — 1,221 (0.01 ) — 1,106 — Diluted earnings $ 12,466 55,668 $ 0.22 $ 5,050 54,651 $ 0.09 For the Six Months Ended October 31, 2015 2014 Net Per Share Net Per Share Income Shares Amount Income Shares Amount Basic earnings $ 26,878 54,333 $ 0.49 $ 19,606 54,188 $ 0.36 Effect of dilutive stock awards — 1,288 (0.01 ) — 1,247 (0.01 ) Diluted earnings $ 26,878 55,621 $ 0.48 $ 19,606 55,435 $ 0.35 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 and six months ended October 31, 2015. For the three and six months ended October 31, 2014, there were 107,081, and 54,037 shares, respectively, of common stock issuable upon the exercise of stock options and 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 six months ended October 31, 2015 and 2014 were as follows: For the Six Months Ended October 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 $ 5.31 Exercised during the period (182,498 ) 5.41 (166,886 ) 2.55 Canceled/forfeited during period — — (13,000 ) 5.59 Options outstanding, end of period 1,697,132 $ 6.47 2,078,463 $ 5.76 Weighted average remaining contractual life 4.77 years 5.49 years Options exercisable, end of period 1,697,132 $ 6.47 1,986,465 $ 5.79 Weighted average remaining contractual life 4.77 years 5.40 years The aggregate intrinsic value of outstanding stock options as of October 31, 2015 and 2014 was $19.3 million and $9.3 million, respectively. The aggregate intrinsic value of outstanding stock options that were exercisable as of October 31, 2015 and 2014 was $19.3 million and $9.1 million, respectively. The aggregate intrinsic value of the stock options exercised for the six months ended October 31, 2015 and 2014 was $1.9 million and $1.3 million, respectively. At October 31, 2015, there were no unrecognized compensation costs of outstanding options. 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 are 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. During the six months ended October 31, 2015 and 2014, 92,249 and 79,291 shares were purchased under our ESPP, respectively. 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 $3.2 million and $2.8 million for the six months ended October 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. We amortize the aggregate fair value of our RSU grants 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 are 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 six months ended October 31, 2015, we granted an aggregate of 198,471 service-based RSUs and 5,379 PSUs without market conditions; 36,379 RSUs to our directors; and 162,092 RSUs and 5,379 PSUs to non-executive officer employees. In addition, in connection with a 2012 grant, 104,000 market-condition PSUs vested (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 $3.0 million for the six months ended October 31, 2015. We delivered common stock to employees during the six months ended October 31, 2015 under vested RSUs and PSUs with a total market value of $5.3 million. During the six months ended October 31, 2014, we granted an aggregate of 237,100 service-based RSUs, including 20,000 RSUs to a newly appointed executive officer in connection with his hiring; and 50,500 RSUs to our directors. In addition, in connection with a 2011 grant, 46,600 market-condition PSUs vested (i.e., the target amount granted), which achieved the maximum aggregate award possible resulting in awards totaling 93,200 shares to certain of our executive officers and a former executive officer. Compensation expense recognized related to grants of RSUs and PSUs was $2.4 million for the six months ended October 31, 2014. We delivered common stock to employees and directors under vested RSUs and PSUs with a total market value of $3.6 million during the six months ended October 31, 2014. A summary of activity in unvested RSUs and PSUs for the nine months ended October 31, 2015 and 2014 is as follows: For the Six Months Ended October 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 280,081 14.78 283,700 11.18 Vested (320,950 ) 10.44 (312,670 ) 8.71 Forfeited (72,123 ) 10.36 (69,371 ) 12.11 RSUs and PSUs outstanding, end of period 1,077,887 $ 13.61 917,134 $ 12.25 As of October 31, 2015, there was $7.2 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 1.6 years.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Oct. 31, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	(10) Commitments and Contingencies: Litigation We are a defendant in a number of product liability cases, which primarily allege 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 a 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. To the extent that circumstances change and 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. During the six months ended October 31, 2015, we received a $1.8 million insurance recovery, which was recorded in general and administrative expenses, 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. 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 the health and safety of our workforce as well as our environmental liability, including 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 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 October 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. We calculated the environmental reserve 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. Subsequent to October 31, 2015, $1.1 million was released to the seller from the escrow account as the statutory period had expired. A portion of the remaining escrow will be applied to environmental remediation at the manufacturing site in Deep River, Connecticut. 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	6 Months Ended
	Oct. 31, 2015
Segment Reporting [Abstract]
Segment Information	(11) Segment Information: The firearms segment consists of products and services manufactured in 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 October 31, 2015 were $369.8 million. Included in the assets of our firearms segment were intangible assets totaling $3.3 million; property, plant, and equipment totaling $136.0 million; and goodwill totaling $13.8 million. Total assets for our accessories segment as of October 31, 2015 were $154.0 million. Included in the assets of the accessories segment were intangible assets totaling $64.5 million; property, plant, and equipment totaling $2.4 million; and goodwill totaling $62.3 million. Results by business segment are presented in the following table for the three and six months ended October 31, 2015 (in thousands): For the Three Months Ended October 31, 2015 (a) Firearms Accessories (b) Intersegment eliminations Total Revenue from external customers $ 124,881 $ 18,361 $ — $ 143,242 Intersegment revenue — 561 (561 ) — Total net sales 124,881 18,922 (561 ) 143,242 Cost of sales 78,009 9,091 (73 ) 87,027 Gross margin 46,872 9,831 (488 ) 56,215 Operating income 20,959 1,311 (c) (488 ) 21,782 Income tax expense 6,695 320 — 7,015 For the Six Months Ended October 31, 2015 (a) Firearms Accessories (b) Intersegment eliminations Total Revenue from external customers $ 259,312 $ 31,693 $ — $ 291,005 Intersegment revenue — 643 (643 ) — Total net sales 259,312 32,336 (643 ) 291,005 Cost of sales 160,388 15,638 (106 ) 175,920 Gross margin 98,923 16,699 (537 ) 115,085 Operating income 49,878 2,259 (c) (537 ) 51,600 Income tax expense 14,683 531 — 15,214 _________________ (a) We operated under one segment in the three and six month periods ended October 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 includes $2.6 million and $4.6 million for the three and six months ended October 31, 2015, respectively, of amortization of intangible assets identified as a result of the BTI Acquisition.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Oct. 31, 2015
Accounting Policies [Abstract]
Interim Financial Information	Interim Financial Information – The consolidated balance sheet as of October 31, 2015, the consolidated statements of income and comprehensive income for the three and six months ended October 31, 2015 and 2014, the consolidated statement of changes in stockholders’ equity for the six months ended October 31, 2015, and the consolidated statements of cash flows for the six months ended October 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 October 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, or GAAP, 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 six months ended October 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 $4.1 million as of April 30, 2015, 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 In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments, In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes,

Acquisitions (Tables)

Acquisitions (Tables) - BTI Acquisition	6 Months Ended
	Oct. 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	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 For the Six Months Ended Months Ended October 31, 2014 October 31, 2014 Net sales $ 122,895 $ 265,311 Net income 5,472 17,444 Net income per share - diluted 0.10 0.31

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Oct. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the six month period ended October 31, 2015 by reporting segment are as follows: Firearms Accessories Total Division Division Goodwill Balance as of April 30, 2015 $ 13,770 $ 61,656 $ 75,426 Measurement period adjustments — 631 631 Balance as of October 31, 2015 $ 13,770 $ 62,287 $ 76,057

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Oct. 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 October 31, 2015 and April 30, 2015 (in thousands): October 31, 2015 April 30, 2015 Finished goods $ 54,736 $ 28,240 Finished parts 29,507 34,269 Work in process 8,244 7,492 Raw material 8,410 6,894 Total inventories $ 100,897 $ 76,895

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Oct. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of intangible assets	The following table presents a summary of intangible assets as of October 31, 2015 and April 30, 2015 (in thousands): October 31, 2015 April 30, 2015 Gross Gross Carrying Accumulated Net Carrying Accumulated Net Carrying Amount Amortization Amount Amount Amortization Amount Customer relationships $ 27,860 $ (4,006 ) $ 23,854 $ 28,260 $ (1,633 ) $ 26,627 Developed technology 16,430 (1,848 ) 14,582 16,630 (1,014 ) 15,616 Patents, trademarks, and tradenames 35,934 (7,062 ) 28,872 36,380 (5,303 ) 31,077 80,224 (12,916 ) 67,308 81,270 (7,950 ) 73,320 Patents in progress 495 — 495 448 — 448 $ 80,719 $ (12,916 ) $ 67,803 $ 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 $ 5,634 2017 10,487 2018 9,741 2019 8,554 2020 7,405 Thereafter 25,487 Total $ 67,308

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Oct. 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 and six months ended October 31, 2015 and 2014 (in thousands, except per share data): For the Three Months Ended October 31, 2015 2014 Net Per Share Net Per Share Income Shares Amount Income Shares Amount Basic earnings $ 12,466 54,447 $ 0.23 $ 5,050 53,545 $ 0.09 Effect of dilutive stock awards — 1,221 (0.01 ) — 1,106 — Diluted earnings $ 12,466 55,668 $ 0.22 $ 5,050 54,651 $ 0.09 For the Six Months Ended October 31, 2015 2014 Net Per Share Net Per Share Income Shares Amount Income Shares Amount Basic earnings $ 26,878 54,333 $ 0.49 $ 19,606 54,188 $ 0.36 Effect of dilutive stock awards — 1,288 (0.01 ) — 1,247 (0.01 ) Diluted earnings $ 26,878 55,621 $ 0.48 $ 19,606 55,435 $ 0.35
Share Based Compensation Stock Options Activity	The number of shares and weighted average exercise prices of options for the six months ended October 31, 2015 and 2014 were as follows: For the Six Months Ended October 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 $ 5.31 Exercised during the period (182,498 ) 5.41 (166,886 ) 2.55 Canceled/forfeited during period — — (13,000 ) 5.59 Options outstanding, end of period 1,697,132 $ 6.47 2,078,463 $ 5.76 Weighted average remaining contractual life 4.77 years 5.49 years Options exercisable, end of period 1,697,132 $ 6.47 1,986,465 $ 5.79 Weighted average remaining contractual life 4.77 years 5.40 years
Summary of Activity in Unvested RSUs and PSUs	A summary of activity in unvested RSUs and PSUs for the nine months ended October 31, 2015 and 2014 is as follows: For the Six Months Ended October 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 280,081 14.78 283,700 11.18 Vested (320,950 ) 10.44 (312,670 ) 8.71 Forfeited (72,123 ) 10.36 (69,371 ) 12.11 RSUs and PSUs outstanding, end of period 1,077,887 $ 13.61 917,134 $ 12.25

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Oct. 31, 2015
Segment Reporting [Abstract]
Schedule of Results by Business Segment	Results by business segment are presented in the following table for the three and six months ended October 31, 2015 (in thousands): For the Three Months Ended October 31, 2015 (a) Firearms Accessories (b) Intersegment eliminations Total Revenue from external customers $ 124,881 $ 18,361 $ — $ 143,242 Intersegment revenue — 561 (561 ) — Total net sales 124,881 18,922 (561 ) 143,242 Cost of sales 78,009 9,091 (73 ) 87,027 Gross margin 46,872 9,831 (488 ) 56,215 Operating income 20,959 1,311 (c) (488 ) 21,782 Income tax expense 6,695 320 — 7,015 For the Six Months Ended October 31, 2015 (a) Firearms Accessories (b) Intersegment eliminations Total Revenue from external customers $ 259,312 $ 31,693 $ — $ 291,005 Intersegment revenue — 643 (643 ) — Total net sales 259,312 32,336 (643 ) 291,005 Cost of sales 160,388 15,638 (106 ) 175,920 Gross margin 98,923 16,699 (537 ) 115,085 Operating income 49,878 2,259 (c) (537 ) 51,600 Income tax expense 14,683 531 — 15,214 _________________ (a) We operated under one segment in the three and six month periods ended October 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 includes $2.6 million and $4.6 million for the three and six months ended October 31, 2015, respectively, of amortization of intangible assets identified as a result of the BTI Acquisition.

Organization - Additional Infor

Organization - Additional Information (Detail)	6 Months Ended
	Oct. 31, 2015
DRP Acquisition
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Business acquisition agreement date	May 5, 2014
Battenfeld Acquisition Company Inc
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) $ in Millions	Apr. 30, 2015USD ($)
Accounting Policies [Abstract]
Decrease in other assets and other long-term liabilities as a result of adopting ASU	$ (4.1)

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($)	Jan. 09, 2015	Dec. 11, 2014	May. 05, 2014	Oct. 31, 2015	Oct. 31, 2014	Apr. 30, 2015
Business Acquisition [Line Items]
Increase in goodwill				$ 631,000
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
Battenfeld Acquisition Company Inc
Business Acquisition [Line Items]
Payments to acquire business, excluding working capital adjustment		$ 130,500,000
Working capital adjustment		3,100,000
Acquisition payment made through line of credit		100,000,000
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
BTI Acquisition
Business Acquisition [Line Items]
Payments to acquire business, net of cash acquired				135,500,000
Increase in goodwill				631,000
Business combination, acquisition-related costs				$ 0	$ 0	$ 1,700,000

Acquisitions - Summary of Busin

Acquisitions - Summary of Business Acquisitions Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Oct. 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	6 Months Ended
	Oct. 31, 2015	Apr. 30, 2015
Acquired Finite Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 80,224	$ 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) - BTI Acquisition - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Oct. 31, 2014	Oct. 31, 2014
Business Acquisition [Line Items]
Net sales	$ 122,895	$ 265,311
Net income	$ 5,472	$ 17,444
Net income per share - diluted	$ 0.10	$ 0.31

Goodwill - Schedule of Changes

Goodwill - Schedule of Changes in Carrying Amount of Goodwill (Detail) $ in Thousands	6 Months Ended
	Oct. 31, 2015USD ($)
Goodwill [Line Items]
Beginning Balance	$ 75,426
Measurement period adjustments	631
Ending Balance	76,057
Firearms Division
Goodwill [Line Items]
Beginning Balance	13,770
Ending Balance	13,770
Accessories Division
Goodwill [Line Items]
Beginning Balance	61,656
Measurement period adjustments	631
Ending Balance	$ 62,287

Notes Payable - Additional Info

Notes Payable - Additional Information (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Oct. 31, 2015	Apr. 30, 2015	Jul. 31, 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, with borrowings to 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	$ 483,000
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	$ 1,000,000
Debt Instrument, Interest Rate, Effective Percentage	3.31%
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 a 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	1.945%
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	2.07%
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%

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Detail) - USD ($)	Oct. 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	$ 54,100,000	$ 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	$ 483,000

Summary of Inventories (Detail)

Summary of Inventories (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Apr. 30, 2015
Inventory Disclosure [Abstract]
Finished goods	$ 54,736	$ 28,240
Finished parts	29,507	34,269
Work in process	8,244	7,492
Raw material	8,410	6,894
Total inventories	$ 100,897	$ 76,895

Summary of Intangible Assets (D

Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Apr. 30, 2015
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets, Gross Carrying Amount	$ 80,224	$ 81,270
Finite lived intangible assets, Accumulated Amortization	(12,916)	(7,950)
Finite lived intangible assets, Net Carrying Amount	67,308	73,320
Intangible assets, Gross Carrying Amount	80,719	81,718
Intangible assets, Net Carrying Amount	67,803	73,768
Patents in progress
Finite-Lived Intangible Assets [Line Items]
Indefinite lived intangible assets, Net Carrying Amount	495	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	(4,006)	(1,633)
Finite lived intangible assets, Net Carrying Amount	23,854	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	(1,848)	(1,014)
Finite lived intangible assets, Net Carrying Amount	14,582	15,616
Patents, trademarks, and tradenames
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets, Gross Carrying Amount	35,934	36,380
Finite lived intangible assets, Accumulated Amortization	(7,062)	(5,303)
Finite lived intangible assets, Net Carrying Amount	$ 28,872	$ 31,077

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2015	Oct. 31, 2014	Oct. 31, 2015	Oct. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Weighted-average period for amortization of intangible assets			6 years
Amortization expense of intangible assets	$ 2,800,000	$ 376,000	$ 5,100,000	$ 537,000
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	Oct. 31, 2015	Apr. 30, 2015
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets, Net Carrying Amount	$ 67,308	$ 73,320
Accessories
Finite-Lived Intangible Assets [Line Items]
2,016	5,634
2,017	10,487
2,018	9,741
2,019	8,554
2,020	7,405
Thereafter	25,487
Finite lived intangible assets, Net Carrying Amount	$ 67,308

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	3 Months Ended	6 Months Ended		12 Months Ended
	Oct. 31, 2014USD ($)shares	Oct. 31, 2015USD ($)OptionPlanshares	Oct. 31, 2014USD ($)shares	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013	Jul. 31, 2015USD ($)
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 | $	$ 9,300,000	$ 19,300,000	$ 9,300,000
Intrinsic value of stock exercisable | $	$ 9,100,000	19,300,000	9,100,000
Intrinsic value of stock exercised | $		1,900,000	$ 1,300,000
Unrecognized compensation cost of outstanding options | $		$ 0
Shares issued under employee stock purchase plan		92,249	79,291
Stock-based compensation expense | $		$ 3,247,000	$ 2,801,000
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	107,081		54,037
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded			237,100
RSUs | Without Market Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded		198,471
RSUs | Non-Executive Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded		162,092
RSUs | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded		36,379	50,500
RSUs | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded			20,000
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded		104,000	46,600
Share based payment award percentage of award achieved		173.30%
PSUs | Without Market Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded		5,379
PSUs | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, vested		180,231	93,200
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		280,081	283,700
Stock units, vested		320,950	312,670
Stock-based compensation expense | $		$ 3,000,000	$ 2,400,000
Value of shares issued for vested awards | $		$ 5,300,000	$ 3,600,000
Weighted average remaining contractual term		1 year 7 months 6 days
Unrecognized compensation cost related to unvested RSUs and PSUs | $		$ 7,200,000

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		6 Months Ended
	Oct. 31, 2015	Oct. 31, 2014	Oct. 31, 2015	Oct. 31, 2014
Earnings Per Share [Abstract]
Net income	$ 12,466	$ 5,050	$ 26,878	$ 19,606
Basic earnings, Shares	54,447	53,545	54,333	54,188
Effect of dilutive stock awards, Shares	1,221	1,106	1,288	1,247
Diluted earnings, Shares	55,668	54,651	55,621	55,435
Basic	$ 0.23	$ 0.09	$ 0.49	$ 0.36
Effect of dilutive stock awards	(0.01)		(0.01)	(0.01)
Diluted earnings	$ 0.22	$ 0.09	$ 0.48	$ 0.35

Share Based Compensation Stock

Share Based Compensation Stock Options Activity (Detail) - $ / shares	6 Months Ended
	Oct. 31, 2015	Oct. 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	(182,498)	(166,886)
Canceled/forfeited during period, Shares		(13,000)
Options outstanding, end of period, Shares	1,697,132	2,078,463
Weighted average remaining contractual life	4 years 9 months 7 days	5 years 5 months 27 days
Options exercisable, end of period, Shares	1,697,132	1,986,465
Weighted average remaining contractual life	4 years 9 months 7 days	5 years 4 months 24 days
Weighted-Average Exercise Price
Options outstanding, beginning of year, Weighted-Average Exercise Price	$ 6.37	$ 5.31
Exercised during period, Weighted-Average Exercise Price	5.41	2.55
Canceled/forfeited during period, Weighted-Average Exercise Price		5.59
Options outstanding, end of period, Weighted-Average Exercise Price	6.47	5.76
Options exercisable, end of period, Weighted-Average Exercise Price	$ 6.47	$ 5.79

Summary of Activity in Unvested

Summary of Activity in Unvested RSUs and PSUs (Detail) - RSUs and PSUs - $ / shares	6 Months Ended
	Oct. 31, 2015	Oct. 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	280,081	283,700
Restricted Stock Units, Vested	(320,950)	(312,670)
Restricted Stock Units, Forfeited	(72,123)	(69,371)
Restricted Stock Units, RSUs and PSUs outstanding, end of period	1,077,887	917,134
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	14.78	11.18
Weighted Average Grant Date Fair Value, Vested	10.44	8.71
Weighted Average Grant Date Fair Value, Forfeited	10.36	12.11
Weighted Average Grant Date Fair Value, RSUs and PSUs outstanding, end of period	$ 13.61	$ 12.25

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	6 Months Ended
	Oct. 31, 2015USD ($)CaseClaim	Apr. 30, 2015USD ($)	May. 05, 2014USD ($)
Schedule Of Commitments And Contingencies [Line Items]
Number of Product liability cases | Case	8
Number of Other product liability claims | Claim	8
Environmental reserve in non-current liabilities	$ 675,000	$ 675,000
Amount placed in escrow			$ 3,000,000
Amount released from escrow account	1,100,000
Escrow deposit, remaining amount			$ 1,400,000
General and Administrative Expense
Schedule Of Commitments And Contingencies [Line Items]
Insurance recovery as a result of an insurance settlement agreement	1,800,000
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	Oct. 31, 2015	Apr. 30, 2015
Segment Reporting Information [Line Items]
Property, plant, and equipment, net	$ 138,396	$ 133,844
Goodwill	76,057	75,426
Total assets	523,816	490,925
Firearms Division
Segment Reporting Information [Line Items]
Intangible assets	3,300
Property, plant, and equipment, net	136,000
Goodwill	13,770	13,770
Total assets	369,800
Accessories Division
Segment Reporting Information [Line Items]
Intangible assets	64,500
Property, plant, and equipment, net	2,400
Goodwill	62,287	$ 61,656
Total assets	$ 154,000

Segment Information - Schedule

Segment Information - Schedule of Results by Business Segment (Detail) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Oct. 31, 2015		Oct. 31, 2014	Oct. 31, 2015		Oct. 31, 2014
Segment Reporting Information [Line Items]
Total net sales		$ 143,242	[1]	$ 108,446	$ 291,005	[1]	$ 240,315
Cost of sales		87,027	[1]	73,606	175,920	[1]	156,357
Gross margin		56,215	[1]	34,840	115,085	[1]	83,958
Operating income		21,782	[1]	10,774	51,600	[1]	36,449
Income tax expense		7,015	[1]	$ 2,819	15,214	[1]	$ 11,972
Intersegment eliminations
Segment Reporting Information [Line Items]
Total net sales	[1]	(561)			(643)
Cost of sales	[1]	(73)			(106)
Gross margin	[1]	(488)			(537)
Operating income	[1]	(488)			(537)
Operating Segments
Segment Reporting Information [Line Items]
Total net sales	[1]	143,242			291,005
Firearms Division
Segment Reporting Information [Line Items]
Total net sales	[1]	124,881			259,312
Firearms Division | Operating Segments
Segment Reporting Information [Line Items]
Total net sales	[1]	124,881			259,312
Cost of sales	[1]	78,009			160,388
Gross margin	[1]	46,872			98,923
Operating income	[1]	20,959			49,878
Income tax expense	[1]	6,695			14,683
Accessories
Segment Reporting Information [Line Items]
Total net sales	[1],[2]	18,361			31,693
Accessories | Intersegment eliminations
Segment Reporting Information [Line Items]
Total net sales	[1],[2]	(561)			(643)
Accessories | Operating Segments
Segment Reporting Information [Line Items]
Total net sales	[1],[2]	18,922			32,336
Cost of sales	[1],[2]	9,091			15,638
Gross margin	[1],[2]	9,831			16,699
Operating income	[1],[2],[3]	1,311			2,259
Income tax expense	[1],[2]	$ 320			$ 531
[1]	We operated under one segment in the three and six month periods ended October 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 includes $2.6 million and $4.6 million for the three and six months ended October 31, 2015, respectively, of amortization of intangible assets identified as a result of the BTI Acquisition.

Segment Information - Schedul45

Segment Information - Schedule of Results by Business Segment (Parenthetical) (Detail)	3 Months Ended		6 Months Ended
	Oct. 31, 2015USD ($)	Oct. 31, 2014USD ($)Segment	Oct. 31, 2015USD ($)	Oct. 31, 2014USD ($)Segment
Segment Reporting Information [Line Items]
Number of reportable segments | Segment		1		1
Amortization of intangible assets	$ 2,800,000	$ 376,000	$ 5,100,000	$ 537,000
BTI Acquisition
Segment Reporting Information [Line Items]
Amortization of intangible assets	$ 2,600,000		$ 4,600,000