Finisar (FNSR) 10-Q 10 Dec 15 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Nov. 01, 2015	Dec. 04, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	FINISAR CORP
Entity Central Index Key	1,094,739
Current Fiscal Year End Date	--05-01
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Nov. 1, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		106,960,677

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Nov. 01, 2015	May. 03, 2015
Current assets:
Cash and cash equivalents	$ 258,270	$ 197,443
Short-term investments	262,500	292,748
Accounts receivable, net of allowance for doubtful accounts of $863 at November 1, 2015 and $1,136 at May 3, 2015	230,065	213,234
Accounts receivable, other	39,982	40,650
Inventories	264,706	283,670
Prepaid expenses and other current assets	20,538	36,518
Total current assets	1,076,061	1,064,263
Property, equipment and improvements, net	344,695	315,777
Purchased intangible assets, net	22,982	27,188
Goodwill	106,736	106,736
Minority investments	3,647	2,847
Other assets	23,133	35,071
Total assets	1,577,254	1,551,882
Current liabilities:
Accounts payable	133,220	131,510
Accrued compensation	31,680	24,918
Other accrued liabilities	43,301	39,239
Deferred revenue	12,438	9,850
Total current liabilities	220,639	205,517
Long-term liabilities:
Convertible debt, net of current portion	226,151	221,406
Other non-current liabilities	23,195	21,166
Total liabilities	$ 469,985	$ 448,089
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value, 5,000,000 shares authorized, no shares issued and outstanding at November 1, 2015 and May 3, 2015	$ 0	$ 0
Common stock, $0.001 par value, 750,000,000 shares authorized,106,785,423 shares and 104,131,817 shares issued and outstanding at November 1, 2015 and May 3, 2015, respectively	107	104
Additional paid-in capital	2,577,246	2,551,114
Accumulated other comprehensive (loss) income	(31,835)	861
Accumulated deficit	(1,438,249)	(1,448,286)
Total stockholders' equity	1,107,269	1,103,793
Total liabilities and stockholders' equity	$ 1,577,254	$ 1,551,882

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited)(Parenthetical) - USD ($) $ in Thousands	Nov. 01, 2015	May. 03, 2015
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 863	$ 1,136
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	106,785,423	104,131,817
Common stock, shares outstanding	106,785,423	104,131,817

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 01, 2015	Oct. 26, 2014	Nov. 01, 2015	Oct. 26, 2014
Income Statement [Abstract]
Revenues	$ 321,136	$ 296,981	$ 635,166	$ 624,619
Cost of revenues	230,610	210,626	454,757	438,010
Amortization of acquired developed technology	1,435	1,435	2,870	2,870
Impairment of long-lived assets	0	0	1,071	0
Gross profit	89,091	84,920	176,468	183,739
Operating expenses:
Research and development	50,972	51,184	103,380	102,191
Sales and marketing	11,896	11,487	23,098	23,452
General and administrative	16,186	28,772	31,394	43,491
Amortization of purchased intangibles	668	737	1,336	1,498
Impairment of long-lived assets	0	0	830	0
Total operating expenses	79,722	92,180	160,038	170,632
Income (loss) from operations	9,369	(7,260)	16,430	13,107
Interest income	469	342	834	954
Interest expense	(2,917)	(2,867)	(5,800)	(6,000)
Other income (expense), net	445	33	1,326	(1,993)
Income (loss) before income taxes	7,366	(9,752)	12,790	6,068
Provision for income taxes	722	1,610	2,753	3,187
Net income (loss)	$ 6,644	$ (11,362)	$ 10,037	$ 2,881
Net income (loss) per share:
Basic (in dollars per share)	$ 0.06	$ (0.11)	$ 0.09	$ 0.03
Diluted (in dollars per share)	$ 0.06	$ (0.11)	$ 0.09	$ 0.03
Shares used in computing net income (loss) per share:
Basic (in shares)	106,635	99,621	105,961	98,931
Diluted (in shares)	107,493	99,621	108,238	102,390

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 01, 2015	Oct. 26, 2014	Nov. 01, 2015	Oct. 26, 2014
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 6,644	$ (11,362)	$ 10,037	$ 2,881
Other comprehensive income (loss), net of tax:
Change in cumulative foreign currency translation adjustment	(17,445)	(7,834)	(32,696)	(2,743)
Total other comprehensive income (loss), net of tax	(17,445)	(7,834)	(32,696)	(2,743)
Total comprehensive income (loss)	$ (10,801)	$ (19,196)	$ (22,659)	$ 138

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Nov. 01, 2015	Oct. 26, 2014
Operating activities
Net income (loss)	$ 10,037	$ 2,881
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	42,609	40,563
Amortization of intangible assets	4,206	4,367
Amortization of debt issuance costs	308	380
Stock-based compensation expense	24,362	22,611
Loss (gain) on sale or retirement of assets and asset disposal group	(277)	628
Impairment of long-lived assets	1,901	0
Equity in earnings of equity method investment	(550)	(430)
Amortization of discount on 0.50% Convertible Senior Notes due 2033	4,745	4,522
Changes in operating assets and liabilities:
Accounts receivable	(16,831)	11,751
Inventories	(1,863)	(26,189)
Other assets	15,989	(12,153)
Accounts payable	1,710	(6,251)
Accrued compensation	2,225	(7,026)
Other accrued liabilities	4,865	3,627
Deferred revenue	3,896	(4,406)
Net cash provided by operating activities	97,332	34,875
Investing activities
Additions to property, equipment and improvements	(72,523)	(74,256)
Net proceeds from sale of property and equipment and asset disposal group	549	42
Purchases of short-term investments	(120,355)	(215,453)
Maturities of short-term investments	150,266	135,000
Acquisition, net of cash acquired	0	(2,728)
Net cash used in investing activities	(42,063)	(157,395)
Financing activities
Repayments of term loans	(193)	(166)
Proceeds from the issuance of shares under equity plans and employee stock purchase plan	5,751	6,537
Net cash provided by financing activities	5,558	6,371
Net increase (decrease) in cash and cash equivalents	60,827	(116,149)
Cash and cash equivalents at beginning of period	197,443	303,101
Cash and cash equivalents at end of period	258,270	186,952
Supplemental disclosure of cash flow information
Cash paid for interest	1,314	1,668
Cash paid for taxes	$ 5,187	$ 3,581

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical)	Nov. 01, 2015	Oct. 26, 2014	Dec. 31, 2013
Convertible Debt | 0.5% Convertible Senior Notes Due 2033
Interest rate	0.50%	0.50%	0.50%

Basis of Presentation

Basis of Presentation	6 Months Ended
	Nov. 01, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements as of November 1, 2015 and for the three and six month periods ended November 1, 2015 and October 26, 2014 have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial statements and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”), and include the accounts of Finisar Corporation and its controlled subsidiaries (collectively, “Finisar” or the “Company”). Intercompany accounts and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP and pursuant to the rules and regulations of the SEC have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the Company's financial position as of November 1, 2015 , its operating results for the three and six month periods ended November 1, 2015 and October 26, 2014 , and its cash flows for the six -month periods ended November 1, 2015 and October 26, 2014 . Operating results for the three and six month periods ended November 1, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending May 1, 2016 . The condensed consolidated balance sheet as of May 3, 2015 has been derived from the audited consolidated financial statements as of that date but does not include all the footnotes required by U.S. GAAP for complete financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and notes included in the Company's Annual Report on Form 10-K for the fiscal year ended May 3, 2015 . The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. The Company has one reportable segment consisting of optical subsystems and components. During the first quarter of fiscal 2016, the Company recorded a $1.9 million charge for the impairment of long-lived assets (primarily machinery and equipment) due to the projected cash flows associated with these assets not supporting the carrying values of these assets. In accordance with the guidance for the impairment of long-lived assets, these assets were written down to their estimated fair value of zero , which was determined based on an income approach using the discounted cash flow method.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Nov. 01, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies For a description of significant accounting policies, see Note 2, Summary of Significant Accounting Policies, to the consolidated financial statements included in the Company's annual report on Form 10-K for the fiscal year ended May 3, 2015 . There have been no material changes to the Company's significant accounting policies since the filing of the annual report on Form 10-K. Pending Adoption of New Accounting Standards From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("FASB") or other standards setting bodies that are adopted by the Company as of the specified effective date. The Company believes the impact of recently issued standards that are not yet effective will not have a material impact on its consolidated financial position, results of operations and cash flows upon adoption.

Net Income (Loss) per Share

Net Income (Loss) per Share	6 Months Ended
	Nov. 01, 2015
Earnings Per Share [Abstract]
Net Income (Loss) per Share	Net Income (Loss) per Share Basic net income (loss) per share has been computed using the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per share has been computed using the weighted-average number of shares of common stock and dilutive potential common shares from stock options and restricted stock units (under the treasury stock method), 5.0% Convertible Senior Notes due 2029 (on an as-if-converted basis), and 0.50% Convertible Senior Notes due 2033 (under the treasury stock method) outstanding during the period. The following table presents the calculation of basic and diluted net income (loss) per share: Three Months Ended Six Months Ended (in thousands, except per share amounts) November 1, 2015 October 26, 2014 November 1, 2015 October 26, 2014 Numerator: Net income (loss) $ 6,644 $ (11,362 ) $ 10,037 $ 2,881 Numerator for basic net income (loss) per share 6,644 (11,362 ) 10,037 2,881 Numerator for diluted net income (loss) per share $ 6,644 $ (11,362 ) $ 10,037 $ 2,881 Denominator: Denominator for basic net income (loss) per share - weighted average shares 106,635 99,621 105,961 98,931 Effect of dilutive securities: Stock options and restricted stock units 858 — 2,277 3,459 Dilutive potential common shares 858 — 2,277 3,459 Denominator for diluted net income (loss) per share 107,493 99,621 108,238 102,390 Net income (loss) per share: Basic $ 0.06 $ (0.11 ) $ 0.09 $ 0.03 Diluted $ 0.06 $ (0.11 ) $ 0.09 $ 0.03 The following table presents common shares related to potentially dilutive securities excluded from the calculation of diluted net income (loss) per share as their effect would have been anti-dilutive: Three Months Ended Six Months Ended (in thousands) November 1, 2015 October 26, 2014 November 1, 2015 October 26, 2014 Stock options and restricted stock units 5,477 5,633 2,979 1,070 5.0% Convertible Senior Notes due 2029 — 3,435 — 3,435 0.50% Convertible Senior Notes due 2033 (1) — — — — 5,477 9,068 2,979 4,505 _______________ (1) 0.50% Convertible Senior Notes due 2033 were excluded from the calculation of diluted earnings per share under the treasury stock method since the conversion price exceeded the average market price for the Company's common stock.

Inventories

Inventories	6 Months Ended
	Nov. 01, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following: As of (in thousands) November 1, 2015 May 3, 2015 Raw materials $ 56,349 $ 57,757 Work-in-process 132,135 146,773 Finished goods 76,222 79,140 Total inventories $ 264,706 $ 283,670

Investments

Investments	6 Months Ended
	Nov. 01, 2015
Investments [Abstract]
Investments	Investments The Company's portfolio of fixed income securities consists of term bank certificates of deposit. All of the Company's investments in fixed income securities have original maturity (maturity at the purchase date) of less than 12 months. Investments with original maturities of three months or less are classified as cash equivalents. All of the Company's investments in fixed income securities are classified as held-to-maturity since the Company has the positive intent and ability to hold these investments until maturity. These investments are carried at amortized cost. The Company's investments in fixed income securities as of November 1, 2015 and May 3, 2015 were as follows: November 1, 2015 May 3, 2015 Gross Unrealized Gross Unrealized (in thousands) Amortized Cost Gains Losses Fair Value Amortized Cost Gains Losses Fair Value Certificates of deposit $ 262,500 $ — $ — $ 262,500 $ 292,748 $ — $ — $ 292,748 Total $ 262,500 $ — $ — $ 262,500 $ 292,748 $ — $ — $ 292,748 Reported as: Short-term investments $ 262,500 $ — $ — $ 262,500 $ 292,748 $ — $ — $ 292,748 Total $ 262,500 $ — $ — $ 262,500 $ 292,748 $ — $ — $ 292,748 The Company monitors its investment portfolio for impairment on a periodic basis. In order to determine whether a decline in fair value is other-than-temporary, the Company evaluates, among other factors: the duration and extent to which the fair value has been less than the carrying value; the Company's financial condition and business outlook, including key operational and cash flow metrics, current market conditions and future trends in its industry; and the Company's intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair value. A decline in the fair value of the security below amortized cost that is deemed other-than-temporary is charged to earnings, resulting in the establishment of a new cost basis for the affected securities. During the three and six month periods ended November 1, 2015 and October 26, 2014 , there were no realized gains or losses, and the Company did not recognize any other-than-temporary impairments.

Debt

Debt	6 Months Ended
	Nov. 01, 2015
Debt Disclosure [Abstract]
Debt	Debt 0.50% Convertible Senior Notes Due 2033 In December 2013 , the Company issued and sold $258.8 million in aggregate principal amount of 0.50% Convertible Senior Notes due 2033 (the "2033 Notes") at par. The terms of the notes are governed by an indenture by and between the Company and Wells Fargo Bank, National Association, as Trustee. The notes will mature on December 15, 2033 , unless earlier repurchased, redeemed or converted. The notes are senior unsecured and unsubordinated obligations of the Company, and are effectively subordinated to the Company's secured indebtedness and the indebtedness and other liabilities of the Company's subsidiaries. The notes bear interest at a rate of 0.5% per year, payable semi-annually in arrears on June 15 and December 15 each year . Holders of the notes may convert their notes at their option prior to the close of business on the business day immediately preceding June 15, 2033 only under the following circumstances: (1) during any fiscal quarter commencing after the fiscal quarter ending on January 26, 2014 (and only during such fiscal quarter), if the last reported sale price of the Company's common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the applicable conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period ("measurement period"), in which the trading price per $1,000 principal amount of notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company's common stock and the applicable conversion rate on each such trading day; or (3) upon the occurrence of specified corporate events. On or after June 15, 2033 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their notes at any time, regardless of whether any of the foregoing circumstances have occurred. The conversion rate will initially equal 33.1301 shares of common stock per $1,000 principal amount of notes (which is equivalent to an initial conversion price of approximately $30.18 per share of common stock), subject to adjustment. Upon conversion of a note, the Company will pay or deliver, as the case may be, either cash, shares of its common stock or a combination of cash and shares of its common stock, at the Company's election, as provided in the indenture. If holders elect to convert their notes in connection with a "fundamental change" (as defined in the indenture) that occurs on or before December 22, 2018, the Company will, to the extent provided in the indenture, increase the conversion rate applicable to such notes ("make-whole feature"). Holders will have the option to require the Company to redeem for cash any notes held by them in the event of a fundamental change at a purchase price equal to 100% of the principal amount of the notes plus accrued and unpaid interest to, but excluding, the redemption date. Holders also have the option to require the Company to redeem for cash any notes held by them on December 15, 2018, December 15, 2023 and December 15, 2028 at a redemption price equal to 100% of the principal amount of the notes plus accrued and unpaid interest to, but excluding, the redemption date. The Company may redeem the notes in whole or in part at any time on or after December 22, 2018 at 100% of the principal amount, plus accrued and unpaid interest to, but excluding, the redemption date. The Company considered the features embedded in the notes, that is, the conversion feature, the holders' put feature, the Company's call feature, and the make-whole feature, and concluded that they are not required to be bifurcated and accounted for separately from the host debt instrument. Because of its option to settle conversion of the notes in cash, the Company separated the liability and equity components of the notes. The carrying amount of the liability component at issuance date of $209.1 million was calculated by estimating the fair value of similar liabilities without a conversion feature. The residual principal amount of the notes of $49.6 million was allocated to the equity component. The resulting debt discount is amortized as interest expense. As of November 1, 2015 , the remaining debt discount amortization period was 37 months . As of November 1, 2015 , the notes consisted of the following (in thousands): Liability component: Principal $ 258,750 Unamortized debt discount (32,599 ) Net carrying amount of the liability component $ 226,151 Carrying amount of the equity component $ 49,648 The Company incurred approximately $3.8 million in transaction costs in connection with the issuance of the notes. These costs were allocated to the liability and equity components in proportion to the allocation of proceeds. Transaction costs of $3.1 million , allocated to the liability component, were recognized as a non-current asset and are amortized. Transaction costs of $725,000 , allocated to the equity component, were recognized as a reduction of additional paid-in capital. The following table sets forth interest expense information related to the 2033 Notes: Three Months Ended Six Months Ended (in thousands, except percentages) November 1, 2015 November 1, 2015 Contractual interest expense $ 324 $ 648 Amortization of the debt discount 2,391 4,745 Amortization of issuance costs 154 308 Total interest cost $ 2,869 $ 5,701 Effective interest rate on the liability component 4.87 % 4.87 % The Company applies the treasury stock method to determine the potential dilutive effect of the 2033 Notes on net income per share as a result of the Company's intent and stated policy to settle the principal amount of the 2033 Notes in cash.

Warranty

Warranty	6 Months Ended
	Nov. 01, 2015
Product Warranties Disclosures [Abstract]
Warranty	Warranty The Company generally offers a one year limited warranty for its products. The specific terms and conditions of these warranties vary depending upon the product sold. The Company estimates the costs that may be incurred under its basic limited warranty and records a liability for the amount of such costs at the time revenue is recognized. Factors that affect the Company's warranty liability include the historical and anticipated rates of warranty claims and cost to repair. The Company periodically assesses the adequacy of its recorded warranty liabilities and adjusts the amounts as necessary. Changes in the Company's warranty liability during the following period were as follows: Six Months Ended (in thousands) November 1, 2015 Beginning balance at May 3, 2015 $ 6,451 Additions during the period based on product sold 4,020 Change in estimates (5 ) Settlements and expirations (1,471 ) Ending balance at November 1, 2015 $ 8,995

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Nov. 01, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company's financial instruments measured at fair value on a recurring basis as of November 1, 2015 and May 3, 2015 were as follows: November 1, 2015 May 3, 2015 Carrying Fair Value Carrying Fair Value (in thousands) Amount Level 1 Level 2 Level 3 Total Amount Level 1 Level 2 Level 3 Total Money market funds $ — $ — $ — $ — $ — $ 196 $ 196 $ — $ — $ 196 Certificates of deposit 262,500 — 262,500 — 262,500 292,748 — 292,748 — 292,748 Total $ 262,500 $ — $ 262,500 $ — $ 262,500 $ 292,944 $ 196 $ 292,748 $ — $ 292,944 The Company's Level 2 financial instruments in the table above are valued using quoted market prices for similar instruments or non-binding market prices that are corroborated by observable market data. The Company has not estimated the fair value of its minority investments in three privately held companies as it is not practicable to estimate the fair value of these investments because of the lack of quoted market prices and the inability to estimate fair value without incurring excessive costs. As of November 1, 2015 , the carrying value of the Company's minority investments in these privately held companies was $3.6 million , which management believes is not impaired. The Company's financial instruments not measured at fair value on a recurring basis as of November 1, 2015 and May 3, 2015 were as follows: November 1, 2015 May 3, 2015 Carrying Fair Value Carrying Fair Value (in thousands) Amount Level 1 Level 2 Level 3 Total Amount Level 1 Level 2 Level 3 Total 2033 Notes 226,151 233,522 — — 233,522 221,406 264,364 — — 264,364 The fair value of the 2033 Notes is based on the market price in the open market as of or close to the respective dates. The difference between the carrying value and the fair value is primarily due to the spread between the conversion price and the market value of the shares underlying the conversion as of each respective balance sheet date.

Legal Matters

Legal Matters	6 Months Ended
	Nov. 01, 2015
Commitments and Contingencies Disclosure [Abstract]
Legal Matters	Legal Matters The Company accrues a liability for legal contingencies when it believes that it is both probable that a liability has been incurred and that it can reasonably estimate the amount of the loss. The Company reviews these accruals and adjusts them to reflect ongoing negotiations, settlements, rulings, advice of legal counsel and other relevant information. To the extent new information is obtained and the Company's views on the probable outcomes of claims, suits, assessments, investigations or legal proceedings change, changes in the Company's accrued liabilities would be recorded in the period in which such determination is made. For the matters referenced below, the amount of liability is not probable or the amount cannot be reasonably estimated; and, therefore, accruals have not been made. In addition, in accordance with the relevant authoritative guidance, for matters which the likelihood of material loss is at least reasonably possible, the Company provides disclosure of the possible loss or range of loss; however, if a reasonable estimate cannot be made, the Company will provide disclosure to that effect. Due to the nature of the Company's business, it is subject to claims alleging infringement by various Company products and services. The Company believes that it has meritorious defenses to the allegations made in its pending cases and intends to vigorously defend these lawsuits; however, it is unable currently to determine the ultimate outcome of these or similar matters. In addition, the Company is a defendant in various litigation matters generally arising out of the normal course of business. Although it is difficult to predict the ultimate outcomes of these cases, the Company believes that it is not reasonably possible that the ultimate outcomes will materially and adversely affect its business, financial position, results of operations or cash flows. Class Action and Shareholder Derivative Litigation Several securities class action lawsuits related to the Company's March 8, 2011 earnings announcement alleging claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, have been filed in the United States District Court for the Northern District of California on behalf of a purported class of persons who purchased stock between December 1 or 2, 2010 through March 8, 2011. The named defendants are the Company and its Chairman of the Board, Chief Executive Officer and Chief Financial Officer. To date, no specific amount of damages has been alleged. The cases were consolidated, lead plaintiffs were appointed and a consolidated complaint was filed. The Company filed a motion to dismiss the case. On January 16, 2013, the District Court granted the Company's motion to dismiss and granted the lead plaintiffs leave to amend the consolidated complaint. An amended consolidated complaint was filed on February 6, 2013. Thereafter, the Company filed a renewed motion to dismiss the case. On September 30, 2013, the District Court granted the Company's motion and dismissed the case with prejudice. On October 25, 2013, the lead plaintiffs filed a notice of appeal of the District Court's dismissal ruling, and the appeal is pending. Oral arguments are scheduled for December 10, 2015. In addition, two purported shareholder derivative lawsuits related to the Company's March 8, 2011 earnings announcement have been filed in the California Superior Court for the County of Santa Clara, and a third derivative lawsuit has been filed in the United States District Court for the Northern District of California. The complaints assert claims for alleged breach of fiduciary duty, unjust enrichment, and waste on behalf of the Company. Named as defendants are the members of the Company's board of directors, including the Company's Chairman of the Board and Chief Executive Officer, and its Chief Financial Officer. No specific amount of damages has been alleged and, by the derivative nature of the lawsuits, no damages will be alleged, against the Company. The state court cases have been consolidated and a lead plaintiff has been appointed to file a consolidated complaint. The derivative cases were stayed pending a ruling in the federal class action case. Following the September 30, 2013 ruling dismissing the class action case, the derivative cases remain stayed, subject to the right of the parties to reinstate them. Mears Technologies Litigation On May 6, 2013, Mears Technologies, Inc. filed a complaint for patent infringement in the United States District Court for the Eastern District of Texas against the Company. The complaint alleges that Finisar's WSS products, ROADM line cards containing a Finisar WSS, and Waveshaper products infringe U.S. Patent No. 6,141,361. The Company has performed a review of the asserted patent and believes that the patent claims are not infringed and/or are invalid. On June 17, 2014, the district court issued a claim construction order favorable to the Company. On October 6, 2014, the court denied a motion of the plaintiff to amend its infringement contentions in light of the court’s claim construction ruling. As a result, the plaintiff has conceded that it is unable to pursue its infringement claims against the Company. On December 30, 2014, the court granted the Company’s motion for summary judgment of non-infringement. The plaintiff has indicated that it intends to appeal the court’s claim construction ruling and the court’s denial of the plaintiff’s motion to amend its infringement contentions in light of the court’s claim construction ruling. The Company intends to oppose any such appeal vigorously. However, if the plaintiff’s appeal is wholly or partially successful, the case would be revived in the district court. If the appeal succeeds and the case resumes, the Company may be liable for substantial damages. Even if the defense of any resumed case is successful, the Company may incur substantial legal fees and other costs in defending the lawsuit. Further, the lawsuit could divert the efforts and attention of the Company's management and technical personnel, which could harm its business.

Guarantees and Indemnifications

Guarantees and Indemnifications	6 Months Ended
	Nov. 01, 2015
Guarantees [Abstract]
Guarantees and Indemnifications	Guarantees and Indemnifications Upon issuance of a guarantee, the guarantor must recognize a liability for the fair value of the obligations it assumes under that guarantee. As permitted under Delaware law and in accordance with the Company's Bylaws, the Company indemnifies its officers and directors for certain events or occurrences, subject to certain limits, while the officer or director is or was serving at the Company's request in such capacity. The term of the indemnification period is for the officer's or director's lifetime. The Company may terminate the indemnification agreements with its officers and directors upon 90 days written notice, but termination will not affect claims for indemnification relating to events occurring prior to the effective date of termination. The maximum amount of potential future indemnification is unlimited; however, the Company has a director and officer liability insurance policy that may enable it to recover a portion of any future amounts paid. The Company enters into indemnification obligations under its agreements with other companies in its ordinary course of business, including agreements with customers, business partners and insurers. Under these provisions the Company generally indemnifies and holds harmless the indemnified party for losses suffered or incurred by the indemnified party as a result of the Company's activities or the use of the Company's products. These indemnification provisions generally survive termination of the underlying agreement. In some cases, the maximum potential amount of future payments the Company could be required to make under these indemnification provisions is unlimited. The Company believes the fair value of these indemnification obligations is immaterial. Accordingly, the Company has not recorded any liabilities for these agreements as of November 1, 2015 . To date, the Company has not incurred material costs to defend lawsuits or settle claims related to these indemnification agreements.

Related Parties

Related Parties	6 Months Ended
	Nov. 01, 2015
Related Party Transactions [Abstract]
Related Parties	Related Parties During the three month period ended August 2, 2015 , the Company paid $29,293 in cash compensation to a company owned by Guy Gertel, the brother of the Chief Executive Officer of the Company during the first quarter of fiscal 2016, for sales and marketing services. In addition, during the first quarter of fiscal 2016, the Company granted to Mr. Guy Gertel, for no additional consideration, 2,091 restricted stock units with a fair market value of $41,360 , which vest as follows: 25% on June 21, 2016 and an additional 25% on each of the next three anniversaries thereafter, to be fully vested on June 21, 2019, subject to Mr. Guy Gertel continuing to provide services to Finisar. During the three and six month periods ended October 26, 2014 , the Company paid $33,627 and $84,817 , respectively, in cash compensation to Mr. Guy Gertel's company. In addition, during the first quarter of fiscal 2015, the Company granted to Mr. Guy Gertel, for no additional consideration, 2,305 restricted stock units with a fair market value of $45,132 , which vest as follows: 25% on June 23, 2015 and an additional 25% on each of the next three anniversaries thereafter, to be fully vested on June 23, 2018, subject to Mr. Guy Gertel continuing to provide services to Finisar. Amounts paid to Mr. Guy Gertel represented values considered by management to be fair and reasonable, reflective of an arm's length transaction.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Nov. 01, 2015
Accounting Policies [Abstract]
Consolidation	The accompanying unaudited condensed consolidated financial statements as of November 1, 2015 and for the three and six month periods ended November 1, 2015 and October 26, 2014 have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial statements and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”), and include the accounts of Finisar Corporation and its controlled subsidiaries (collectively, “Finisar” or the “Company”). Intercompany accounts and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP and pursuant to the rules and regulations of the SEC have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the Company's financial position as of November 1, 2015 , its operating results for the three and six month periods ended November 1, 2015 and October 26, 2014 , and its cash flows for the six -month periods ended November 1, 2015 and October 26, 2014 .
Use of Estimates	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates.
Net Income per Share	Basic net income (loss) per share has been computed using the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per share has been computed using the weighted-average number of shares of common stock and dilutive potential common shares from stock options and restricted stock units (under the treasury stock method), 5.0% Convertible Senior Notes due 2029 (on an as-if-converted basis), and 0.50% Convertible Senior Notes due 2033 (under the treasury stock method) outstanding during the period.
Warranty	The Company generally offers a one year limited warranty for its products. The specific terms and conditions of these warranties vary depending upon the product sold. The Company estimates the costs that may be incurred under its basic limited warranty and records a liability for the amount of such costs at the time revenue is recognized. Factors that affect the Company's warranty liability include the historical and anticipated rates of warranty claims and cost to repair. The Company periodically assesses the adequacy of its recorded warranty liabilities and adjusts the amounts as necessary.

Net Income (Loss) per Share (Ta

Net Income (Loss) per Share (Tables)	6 Months Ended
	Nov. 01, 2015
Earnings Per Share [Abstract]
Schedule of Calculation of Basic and Diluted Net Income (Loss) per Share	The following table presents the calculation of basic and diluted net income (loss) per share: Three Months Ended Six Months Ended (in thousands, except per share amounts) November 1, 2015 October 26, 2014 November 1, 2015 October 26, 2014 Numerator: Net income (loss) $ 6,644 $ (11,362 ) $ 10,037 $ 2,881 Numerator for basic net income (loss) per share 6,644 (11,362 ) 10,037 2,881 Numerator for diluted net income (loss) per share $ 6,644 $ (11,362 ) $ 10,037 $ 2,881 Denominator: Denominator for basic net income (loss) per share - weighted average shares 106,635 99,621 105,961 98,931 Effect of dilutive securities: Stock options and restricted stock units 858 — 2,277 3,459 Dilutive potential common shares 858 — 2,277 3,459 Denominator for diluted net income (loss) per share 107,493 99,621 108,238 102,390 Net income (loss) per share: Basic $ 0.06 $ (0.11 ) $ 0.09 $ 0.03 Diluted $ 0.06 $ (0.11 ) $ 0.09 $ 0.03
Schedule of Antidilutive Securities Excluded from Computation of Net Income (Loss) per Share	The following table presents common shares related to potentially dilutive securities excluded from the calculation of diluted net income (loss) per share as their effect would have been anti-dilutive: Three Months Ended Six Months Ended (in thousands) November 1, 2015 October 26, 2014 November 1, 2015 October 26, 2014 Stock options and restricted stock units 5,477 5,633 2,979 1,070 5.0% Convertible Senior Notes due 2029 — 3,435 — 3,435 0.50% Convertible Senior Notes due 2033 (1) — — — — 5,477 9,068 2,979 4,505 _______________ (1) 0.50% Convertible Senior Notes due 2033 were excluded from the calculation of diluted earnings per share under the treasury stock method since the conversion price exceeded the average market price for the Company's common stock.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Nov. 01, 2015
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consist of the following: As of (in thousands) November 1, 2015 May 3, 2015 Raw materials $ 56,349 $ 57,757 Work-in-process 132,135 146,773 Finished goods 76,222 79,140 Total inventories $ 264,706 $ 283,670

Investments (Tables)

Investments (Tables)	6 Months Ended
	Nov. 01, 2015
Investments [Abstract]
Schedule of Held-To-Maturity Securities	The Company's investments in fixed income securities as of November 1, 2015 and May 3, 2015 were as follows: November 1, 2015 May 3, 2015 Gross Unrealized Gross Unrealized (in thousands) Amortized Cost Gains Losses Fair Value Amortized Cost Gains Losses Fair Value Certificates of deposit $ 262,500 $ — $ — $ 262,500 $ 292,748 $ — $ — $ 292,748 Total $ 262,500 $ — $ — $ 262,500 $ 292,748 $ — $ — $ 292,748 Reported as: Short-term investments $ 262,500 $ — $ — $ 262,500 $ 292,748 $ — $ — $ 292,748 Total $ 262,500 $ — $ — $ 262,500 $ 292,748 $ — $ — $ 292,748

Debt (Tables)

Debt (Tables)	6 Months Ended
	Nov. 01, 2015
Debt Disclosure [Abstract]
Convertible Debt	As of November 1, 2015 , the notes consisted of the following (in thousands): Liability component: Principal $ 258,750 Unamortized debt discount (32,599 ) Net carrying amount of the liability component $ 226,151 Carrying amount of the equity component $ 49,648
Interest Expense	The following table sets forth interest expense information related to the 2033 Notes: Three Months Ended Six Months Ended (in thousands, except percentages) November 1, 2015 November 1, 2015 Contractual interest expense $ 324 $ 648 Amortization of the debt discount 2,391 4,745 Amortization of issuance costs 154 308 Total interest cost $ 2,869 $ 5,701 Effective interest rate on the liability component 4.87 % 4.87 %

Warranty (Tables)

Warranty (Tables)	6 Months Ended
	Nov. 01, 2015
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	Changes in the Company's warranty liability during the following period were as follows: Six Months Ended (in thousands) November 1, 2015 Beginning balance at May 3, 2015 $ 6,451 Additions during the period based on product sold 4,020 Change in estimates (5 ) Settlements and expirations (1,471 ) Ending balance at November 1, 2015 $ 8,995

Fair Value of Financial Instr25

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Nov. 01, 2015
Fair Value Disclosures [Abstract]
Financial Instruments Measured at Fair Value on a Recurring Basis	The Company's financial instruments measured at fair value on a recurring basis as of November 1, 2015 and May 3, 2015 were as follows: November 1, 2015 May 3, 2015 Carrying Fair Value Carrying Fair Value (in thousands) Amount Level 1 Level 2 Level 3 Total Amount Level 1 Level 2 Level 3 Total Money market funds $ — $ — $ — $ — $ — $ 196 $ 196 $ — $ — $ 196 Certificates of deposit 262,500 — 262,500 — 262,500 292,748 — 292,748 — 292,748 Total $ 262,500 $ — $ 262,500 $ — $ 262,500 $ 292,944 $ 196 $ 292,748 $ — $ 292,944
Financial Instruments Not Measured at Fair Value on a Recurring Basis	The Company's financial instruments not measured at fair value on a recurring basis as of November 1, 2015 and May 3, 2015 were as follows: November 1, 2015 May 3, 2015 Carrying Fair Value Carrying Fair Value (in thousands) Amount Level 1 Level 2 Level 3 Total Amount Level 1 Level 2 Level 3 Total 2033 Notes 226,151 233,522 — — 233,522 221,406 264,364 — — 264,364

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended	6 Months Ended
	Aug. 02, 2015USD ($)	Nov. 01, 2015USD ($)segment	Oct. 26, 2014USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments | segment		1
Impairment of long-lived assets	$ 1,901,000	$ 1,901,000	$ 0
Income Approach Valuation Technique | Impaired Long-Lived Assets
Property, Plant and Equipment
Estimated fair value	$ 0

Net Income (Loss) per Share - S

Net Income (Loss) per Share - Schedule of Calculation of Basic and Diluted Net Income (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 01, 2015	Oct. 26, 2014	Nov. 01, 2015	Oct. 26, 2014	Dec. 31, 2013
Numerator:
Net income (loss)	$ 6,644	$ (11,362)	$ 10,037	$ 2,881
Numerator for diluted net income (loss) per share	$ 6,644	$ (11,362)	$ 10,037	$ 2,881
Denominator:
Denominator for basic net income (loss) per share - weighted average shares	106,635	99,621	105,961	98,931
Effect of dilutive securities:
Stock options and restricted stock units	858	0	2,277	3,459
Dilutive potential common shares	858	0	2,277	3,459
Denominator for diluted net income (loss) per share	107,493	99,621	108,238	102,390
Net income (loss) per share:
Basic (in dollars per share)	$ 0.06	$ (0.11)	$ 0.09	$ 0.03
Diluted (in dollars per share)	$ 0.06	$ (0.11)	$ 0.09	$ 0.03
5.0% Convertible Senior Notes Due 2029 | Convertible Debt
Debt Instrument
Interest rate	5.00%		5.00%
0.5% Convertible Senior Notes Due 2033 | Convertible Debt
Debt Instrument
Interest rate	0.50%	0.50%	0.50%	0.50%	0.50%

Net Income (Loss) per Share -28

Net Income (Loss) per Share - Schedule of Antidilutive Securities Excluded from Computation of Net Income (Loss) per Share (Details) - shares shares in Thousands		3 Months Ended		6 Months Ended
		Nov. 01, 2015	Oct. 26, 2014	Nov. 01, 2015	Oct. 26, 2014	Dec. 31, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share		5,477	9,068	2,979	4,505
Stock Options and Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share		5,477	5,633	2,979	1,070
5.0% Convertible Senior Notes Due 2029 | Convertible Debt Securities
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share		0	3,435	0	3,435
0.5% Convertible Senior Notes Due 2033 | Convertible Debt Securities
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share	[1]	0	0	0	0
Convertible Debt | 5.0% Convertible Senior Notes Due 2029
Antidilutive Securities Excluded from Computation of Earnings Per Share
Interest rate		5.00%		5.00%
Convertible Debt | 0.5% Convertible Senior Notes Due 2033
Antidilutive Securities Excluded from Computation of Earnings Per Share
Interest rate		0.50%	0.50%	0.50%	0.50%	0.50%
[1]	0.50% Convertible Senior Notes due 2033 were excluded from the calculation of diluted earnings per share under the treasury stock method since the conversion price exceeded the average market price for the Company's common stock.

Inventories - Schedule of Inve

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Nov. 01, 2015	May. 03, 2015
Inventory, Net [Abstract]
Raw materials	$ 56,349	$ 57,757
Work-in-process	132,135	146,773
Finished goods	76,222	79,140
Total inventories	$ 264,706	$ 283,670

Investments - Schedule of Held-

Investments - Schedule of Held-To-Maturity Securities (Details) - USD ($) $ in Thousands	Nov. 01, 2015	May. 03, 2015
Schedule of Held-to-maturity Securities
Amortized Cost	$ 262,500	$ 292,748
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	262,500	292,748
Short-term Investments
Schedule of Held-to-maturity Securities
Amortized Cost	262,500	292,748
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	262,500	292,748
Certificates of Deposit
Schedule of Held-to-maturity Securities
Amortized Cost	262,500	292,748
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	$ 262,500	$ 292,748

Debt (Details)

Debt (Details) - Convertible Debt - 0.5% Convertible Senior Notes Due 2033 $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended
	Dec. 31, 2013USD ($)d$ / shares	Nov. 01, 2015USD ($)	Oct. 26, 2014
Debt Instrument
Principal	$ 258,750	$ 258,750
Interest rate	0.50%	0.50%	0.50%
Conversion ratio	0.0331301
Conversion price (in dollars per share) | $ / shares	$ 30.18
Carrying amount of liability component		$ 209,100
Carrying amount of the equity component		$ 49,648
Remaining discount amortization period (in months)		37 months
Debt issuance costs		$ 3,800
Other Noncurrent Assets
Debt Instrument
Noncurrent deferred finance costs		3,100
Additional Paid-in Capital
Debt Instrument
Adjustments to additional paid in capital		$ 725
Conversion Option One
Debt Instrument
Threshold trading days | d	20
Threshold consecutive trading days	30 days
Threshold percentage of stock price trigger	130.00%
Conversion Option Two
Debt Instrument
Threshold trading days | d	5
Threshold consecutive trading days	5 days
Threshold percentage of stock price trigger	98.00%
In The Event Of Fundamental Change in Control
Debt Instrument
Redemption price (percentage)	100.00%
December 15, 2018, by Holders
Debt Instrument
Redemption price (percentage)	100.00%
December 15, 2023, by Holders
Debt Instrument
Redemption price (percentage)	100.00%
December 15, 2028, by Holders
Debt Instrument
Redemption price (percentage)	100.00%
After December 22, 2018, by Company
Debt Instrument
Redemption price (percentage)	100.00%

Debt - Convertible Debt (Detail

Debt - Convertible Debt (Details) - Convertible Debt - 0.5% Convertible Senior Notes Due 2033 - USD ($) $ in Thousands	Nov. 01, 2015	Dec. 31, 2013
Debt Instrument
Principal	$ 258,750	$ 258,750
Unamortized debt discount	(32,599)
Net carrying amount of the liability component	226,151
Carrying amount of the equity component	$ 49,648

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Nov. 01, 2015	Nov. 01, 2015	Oct. 26, 2014
Debt Instrument
Amortization of the debt discount		$ 4,745	$ 4,522
Convertible Debt | 0.5% Convertible Senior Notes Due 2033
Debt Instrument
Contractual interest expense	$ 324	648
Amortization of the debt discount	2,391	4,745
Amortization of issuance costs	154	308
Total interest cost	$ 2,869	$ 5,701
Effective interest rate on the liability component	4.87%	4.87%

Warranty - Schedule of Product

Warranty - Schedule of Product Warranty Liability (Details) $ in Thousands	6 Months Ended
	Nov. 01, 2015USD ($)
Product Warranties Disclosures [Abstract]
Warranty period	1 year
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance at May 3, 2015	$ 6,451
Additions during the period based on product sold	4,020
Decrease in estimates	(5)
Settlements and expirations	(1,471)
Ending balance at November 1, 2015	$ 8,995

Fair Value of Financial Instr35

Fair Value of Financial Instruments - Financial Instruments Measured at Fair Value on a Recurring Basis (Details) $ in Thousands	Nov. 01, 2015USD ($)company	May. 03, 2015USD ($)
Financial Assets
Number of minority investment companies | company	3
Carrying value of minority investments	$ 3,647	$ 2,847
Recurring | Carrying Amount
Financial Assets
Total	262,500	292,944
Recurring | Carrying Amount | Money Market Funds
Financial Assets
Cash and cash equivalents	0	196
Recurring | Carrying Amount | Certificates of Deposit
Financial Assets
Cash and cash equivalents	262,500	292,748
Recurring | Fair Value
Financial Assets
Total	262,500	292,944
Recurring | Fair Value | Money Market Funds
Financial Assets
Cash and cash equivalents	0	196
Recurring | Fair Value | Certificates of Deposit
Financial Assets
Cash and cash equivalents	262,500	292,748
Recurring | Level 1 | Fair Value
Financial Assets
Total	0	196
Recurring | Level 1 | Fair Value | Money Market Funds
Financial Assets
Cash and cash equivalents	0	196
Recurring | Level 1 | Fair Value | Certificates of Deposit
Financial Assets
Cash and cash equivalents	0	0
Recurring | Level 2 | Fair Value
Financial Assets
Total	262,500	292,748
Recurring | Level 2 | Fair Value | Money Market Funds
Financial Assets
Cash and cash equivalents	0	0
Recurring | Level 2 | Fair Value | Certificates of Deposit
Financial Assets
Cash and cash equivalents	262,500	292,748
Recurring | Level 3 | Fair Value
Financial Assets
Total	0	0
Recurring | Level 3 | Fair Value | Money Market Funds
Financial Assets
Cash and cash equivalents	0	0
Recurring | Level 3 | Fair Value | Certificates of Deposit
Financial Assets
Cash and cash equivalents	$ 0	$ 0

Fair Value of Financial Instr36

Fair Value of Financial Instruments - Financial Instruments Not Measured at Fair Value on a Recurring Basis (Details) - Recurring - 2033 Notes - USD ($) $ in Thousands	Nov. 01, 2015	May. 03, 2015
Carrying Amount
Debt Instrument
Convertible notes	$ 226,151	$ 221,406
Fair Value
Debt Instrument
Convertible notes	233,522	264,364
Level 1 | Fair Value
Debt Instrument
Convertible notes	233,522	264,364
Level 2 | Fair Value
Debt Instrument
Convertible notes	0	0
Level 3 | Fair Value
Debt Instrument
Convertible notes	$ 0	$ 0

Legal Matters (Details)

Legal Matters (Details)	Mar. 08, 2011lawsuit
Class Action and Shareholder Derivative Litigation | Pending Litigation
Loss Contingencies
Number of pending claims	2

Guarantees and Indemnificatio38

Guarantees and Indemnifications (Details)	3 Months Ended
	Nov. 01, 2015
Guarantees [Abstract]
Period of written notification to terminate agreement (in days)	90 days

Related Parties (Details)

Related Parties (Details) - Immediate Family Member of Management or Principle Owner - USD ($)	3 Months Ended			6 Months Ended
	Aug. 02, 2015	Oct. 26, 2014	Jul. 27, 2014	Oct. 26, 2014
Related Party Transaction
Related party transaction expense	$ 29,293	$ 33,627		$ 84,817
Restricted Stock Units granted to related party (in shares)	2,091		2,305
Fair value of Restricted Stock Units granted to related party	$ 41,360		$ 45,132
Tranche One
Related Party Transaction
Vesting rate of Restricted Stock Units	25.00%		25.00%
Tranche Two
Related Party Transaction
Vesting rate of Restricted Stock Units	25.00%		25.00%
Tranche Three
Related Party Transaction
Vesting rate of Restricted Stock Units	25.00%		25.00%
Tranche Four
Related Party Transaction
Vesting rate of Restricted Stock Units	25.00%		25.00%