Kewaunee Scientific (KEQU) 10-Q 13 Mar 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jan. 31, 2017	Mar. 06, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jan. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	KEQU
Entity Registrant Name	KEWAUNEE SCIENTIFIC CORP /DE/
Entity Central Index Key	55,529
Current Fiscal Year End Date	--04-30
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		2,711,953

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Income Statement [Abstract]
Net sales	$ 30,371	$ 32,410	$ 103,979	$ 94,536
Costs of products sold	25,339	26,922	84,704	77,673
Gross profit	5,032	5,488	19,275	16,863
Operating expenses	4,590	4,441	14,484	13,163
Operating earnings	442	1,047	4,791	3,700
Other income	120	109	358	296
Interest expense	(71)	(83)	(229)	(236)
Earnings before income taxes	491	1,073	4,920	3,760
Income tax expense	133	225	1,695	1,242
Net earnings	358	848	3,225	2,518
Less: net earnings attributable to the noncontrolling interest	17	18	98	53
Net earnings attributable to Kewaunee Scientific Corporation	$ 341	$ 830	$ 3,127	$ 2,465
Net earnings per share attributable to Kewaunee Scientific Corporation stockholders
Basic	$ 0.13	$ 0.31	$ 1.16	$ 0.93
Diluted	$ 0.13	$ 0.31	$ 1.15	$ 0.92
Weighted average number of common shares outstanding
Basic	2,711	2,682	2,703	2,661
Diluted	2,734	2,699	2,724	2,683

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Statement of Comprehensive Income [Abstract]
Net earnings	$ 358	$ 848	$ 3,225	$ 2,518
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(63)	(221)	(232)	(435)
Change in fair value of cash flow hedge	35		53	11
Other comprehensive income (loss)	(28)	(221)	(179)	(424)
Comprehensive income, net of tax	330	627	3,046	2,094
Less: comprehensive income attributable to the noncontrolling interest	17	18	98	53
Comprehensive income attributable to Kewaunee Scientific Corporation	$ 313	$ 609	$ 2,948	$ 2,041

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - 9 months ended Jan. 31, 2017 - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Apr. 30, 2016	$ 38,242	$ 6,720	$ 2,375	$ (53)	$ 36,826	$ (7,626)
Net earnings attributable to Kewaunee Scientific Corporation	3,127				3,127
Other comprehensive loss	(179)					(179)
Cash dividends paid, $0.43 per share	(1,163)				(1,163)
Stock options exercised, 48,650 shares	141	67	74
Stock based compensation	150		150
Balance at Jan. 31, 2017	$ 40,318	$ 6,787	$ 2,599	$ (53)	$ 38,790	$ (7,805)

Consolidated Statement of Stoc5

Consolidated Statement of Stockholders' Equity (Parenthetical)	9 Months Ended
	Jan. 31, 2017$ / sharesshares
Cash dividends paid, per share | $ / shares	$ 0.43
Stock options exercised, shares	48,650
Common Stock [Member]
Stock options exercised, shares	48,650
Additional Paid-in Capital [Member]
Stock options exercised, shares	48,650
Retained Earnings [Member]
Cash dividends paid, per share | $ / shares	$ 0.43

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 31, 2017	Apr. 30, 2016
Current Assets:
Cash and cash equivalents	$ 8,254	$ 5,222
Restricted cash	1,438	1,567
Receivables, less allowance; $143; $202, on each respective date	25,787	27,835
Inventories	15,731	15,626
Prepaid expenses and other current assets	1,004	707
Total Current Assets	52,214	50,957
Property, plant and equipment, at cost	51,797	49,928
Accumulated depreciation	(37,449)	(35,810)
Net Property, Plant and Equipment	14,348	14,118
Deferred income taxes	3,404	3,392
Other	3,679	3,938
Total Other Assets	7,083	7,330
Total Assets	73,645	72,405
Current Liabilities:
Short-term borrowings and interest rate swaps	4,679	3,818
Current portion of long-term debt	421	421
Accounts payable	10,105	11,722
Employee compensation and amounts withheld	2,041	2,333
Deferred revenue	548	785
Other accrued expenses	2,591	1,871
Total Current Liabilities	20,385	20,950
Long-term debt	3,033	3,349
Accrued pension and deferred compensation costs	9,510	9,554
Total Liabilities	32,928	33,853
Commitments and Contingencies
Stockholders' Equity:
Common Stock, $2.50 par value, Authorized - 5,000 shares; Issued - 2,715; 2,688 shares; - Outstanding - 2,712 shares; 2,685 shares, on each respective date	6,787	6,720
Additional paid-in-capital	2,599	2,375
Retained earnings	38,790	36,826
Accumulated other comprehensive loss	(7,805)	(7,626)
Common stock in treasury, at cost, 3 shares, on each date	(53)	(53)
Total Kewaunee Scientific Corporation Stockholders' Equity	40,318	38,242
Noncontrolling interest	399	310
Total Equity	40,717	38,552
Total Liabilities and Equity	$ 73,645	$ 72,405

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jan. 31, 2017	Apr. 30, 2016
Statement of Financial Position [Abstract]
Allowance for receivables	$ 143	$ 202
Common stock, par value	$ 2.50	$ 2.50
Common stock, shares authorized	5,000	5,000
Common stock, shares issued	2,715	2,688
Common stock, shares outstanding	2,712	2,685
Treasury stock, shares	3	3

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Cash flows from operating activities:
Net earnings	$ 3,225	$ 2,518
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	1,960	1,850
Bad debt provision	(42)	7
Stock based compensation expense	150	146
(Expense) benefit for deferred income tax expense	(12)	40
Change in assets and liabilities:
Decrease (increase) in receivables	2,090	(310)
(Increase) in inventories	(105)	(3,409)
(Decrease) increase in accounts payable and other accrued expenses	(1,189)	1,663
(Decrease) increase in deferred revenue	(237)	467
Other, net	11	164
Net cash provided by operating activities	5,851	3,136
Cash flows from investing activities:
Capital expenditures	(2,190)	(1,708)
Decrease in restricted cash	129	832
Net cash used in investing activities	(2,061)	(876)
Cash flows from financing activities:
Dividends paid	(1,163)	(1,012)
Dividends paid to noncontrolling interest in subsidiaries		(75)
Increase in short-term borrowings and interest rate swaps	861	583
Payments on long-term debt	(316)	(316)
Payment toward purchase of noncontrolling interest in subsidiary		(888)
Net proceeds from exercise of stock options (including tax benefit)	141	459
Net cash used in financing activities	(477)	(1,249)
Effect of exchange rate changes on cash	(281)	(346)
Increase in cash and cash equivalents	3,032	665
Cash and cash equivalents, beginning of period	5,222	3,044
Cash and cash equivalents, end of period	$ 8,254	$ 3,709

Financial Information

Financial Information	9 Months Ended
	Jan. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Financial Information	A. Financial Information The unaudited interim consolidated financial statements of Kewaunee Scientific Corporation (the “Company”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “Commission”). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted, although the Company believes that the disclosures are adequate to make the information presented not misleading. These interim consolidated financial statements include all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of these financial statements and should be read in conjunction with the consolidated financial statements and notes included in the Company’s 2016 Annual Report to Stockholders. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full year. The consolidated balance sheet as of April 30, 2016 included in this interim period filing has been derived from the audited financial statements at that date, but does not include all of the information and related notes required by generally accepted accounting principles (GAAP) for complete financial statements. The preparation of the interim consolidated financial statements requires management to make certain estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Jan. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Share	B. Earnings Per Share Basic earnings per share is based on the weighted average number of common shares outstanding during the three and nine month periods. Diluted earnings per share reflects the assumed exercise and conversion of outstanding options under the Company’s stock option plans, except when options have an anti-dilutive effect. Options to purchase 39,200 shares were not included in the computation of diluted earnings per share for the three and nine month periods ended January 31, 2017, because the option exercise prices were greater than the average market price of the common shares at that date, and accordingly, such options would have an antidilutive effect. Options to purchase 111,400 shares were not included in the computation of diluted earnings per share for the three and nine month periods ended January 31, 2016, because the effect would be anti-dilutive.

Inventories

Inventories	9 Months Ended
	Jan. 31, 2017
Inventory Disclosure [Abstract]
Inventories	C. Inventories Inventories consisted of the following (in thousands): January 31, 2017 April 30, 2016 Finished products $ 3,568 $ 3,707 Work in process 2,101 1,889 Raw materials 10,062 10,030 $ 15,731 $ 15,626 The Company uses the last-in, first-out (LIFO) method of valuing inventory for its domestic operations, which represents $14,272,000 of inventory at January 31, 2017 and $13,373,000 at April 30, 2016. An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time. Interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and costs, and are subject to the final year-end LIFO inventory valuation.

Segment Information

Segment Information	9 Months Ended
	Jan. 31, 2017
Segment Reporting [Abstract]
Segment Information	D. Segment Information The following table provides financial information by business segments for the three and nine months ended January 31, 2017 and 2016 (in thousands): Domestic International Corporate Total Three months ended January 31, 2017 Revenues from external customers $ 25,313 $ 5,058 $ — $ 30,371 Intersegment revenues 344 538 (882 ) — Earnings (loss) before income taxes 563 943 (1,015 ) 491 Three months ended January 31, 2016 Revenues from external customers $ 25,423 $ 6,987 $ — $ 32,410 Intersegment revenues 1,196 421 (1,617 ) — Earnings (loss) before income taxes 1,586 702 (1,215 ) 1,073 Domestic International Corporate Total Nine months ended January 31, 2017 Revenues from external customers $ 83,161 $ 20,818 $ — $ 103,979 Intersegment revenues 3,781 2,936 (6,717 ) — Earnings (loss) before income taxes 5,580 3,010 (3,670 ) 4,920 Nine months ended January 31, 2016 Revenues from external customers $ 76,017 $ 18,519 $ — $ 94,536 Intersegment revenues 1,642 1,694 (3,336 ) — Earnings (loss) before income taxes 5,346 2,002 (3,588 ) 3,760

Defined Benefit Pension Plans

Defined Benefit Pension Plans	9 Months Ended
	Jan. 31, 2017
Compensation and Retirement Disclosure [Abstract]
Defined Benefit Pension Plans	E. Defined Benefit Pension Plans The Company has non-contributory defined benefit pension plans covering substantially all domestic salaried and hourly employees. These plans were amended as of April 30, 2005, no further benefits have been, or will be, earned under the plans, subsequent to the amendment date, and no additional participants will be added to the plans. Contributions of $555,000 were paid to the plans during the nine months ended January 31, 2017 and the Company does not expect any contributions to be paid to the plans during the remainder of the fiscal year. Contributions of $64,000 were paid to the plans during the nine months ended January 31, 2016. Pension expense consisted of the following (in thousands): Three months ended Three months ended Service cost $ -0- $ -0- Interest cost 232 224 Expected return on plan assets (311 ) (334 ) Recognition of net loss 314 329 Net periodic pension expense $ 235 $ 219 Nine months ended Nine months ended Service cost $ -0- $ -0- Interest cost 695 684 Expected return on plan assets (932 ) (1,022 ) Recognition of net loss 942 917 Net periodic pension expense $ 705 $ 579

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Jan. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	F. Fair Value of Financial Instruments The Company’s financial instruments consist primarily of cash and equivalents, mutual funds, cash surrender value of life insurance policies and short-term borrowings. The carrying values of these assets and liabilities approximate their fair value. The following tables summarize the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring and nonrecurring basis as of January 31, 2017 and April 30, 2016 (in thousands): January 31, 2017 Financial Assets Level 1 Level 2 Total Trading securities held in non-qualified compensation plans (1) $ 3,608 $ — $ 3,608 Cash surrender value of life insurance policies (1) — 62 62 Total $ 3,608 $ 62 $ 3,670 Financial Liabilities Non-qualified compensation plans (2) $ — $ 4,021 $ 4,021 Interest rate swap derivatives — 80 80 Total $ — $ 4,101 $ 4,101 April 30, 2016 Financial Assets Level 1 Level 2 Total Trading securities held in non-qualified compensation plans (1) $ 3,867 $ — $ 3,867 Cash surrender value of life insurance policies (1) — 62 62 Total $ 3,867 $ 62 $ 3,929 Financial Liabilities Non-qualified compensation plans (2) $ — $ 4,215 $ 4,215 Interest rate swap derivatives — 166 166 Total $ — $ 4,381 $ 4,381 (1) The Company maintains two non-qualified compensation plans which include investment assets in a rabbi trust. These assets consist of marketable securities, which are valued using quoted market prices multiplied by the number of shares owned, and life insurance policies, which are valued at their cash surrender value. (2) Plan liabilities are equal to the individual participants’ account balances and other earned retirement benefits.

New Accounting Standards

New Accounting Standards	9 Months Ended
	Jan. 31, 2017
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	G. New Accounting Standards In May 2014, the FASB issued ASU 2014-9, “Revenue from Contracts with Customers (Topic 606).” This guidance requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, this guidance was amended deferring the effective date to annual reporting periods beginning after December 15, 2017. The Company will adopt this standard in fiscal year 2019. The Company has not yet determined the effect, if any, that the adoption of this standard will have on the Company’s financial position or results of operations. In November 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-17, “Income Taxes (Topic 740) – Balance Sheet Classification of Deferred Taxes.” This guidance eliminates the requirement to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. Instead, the update requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, with early adoption permitted prospectively or retrospectively. The Company early adopted this guidance prospectively beginning with the Consolidated Balance Sheet at April 30, 2016. Prior periods were not retrospectively adjusted. In April 2015, the FASB issued ASU 2015-03, “Interest (Topic 835) – Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs.” This guidance requires that debt issuance costs related to a recognized liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. The Company adopted this standard effective May 1, 2016. The adoption of this standard did not have a significant impact on the Company’s consolidated financial position or results of operations.

New Accounting Standards (Polic

New Accounting Standards (Policies)	9 Months Ended
	Jan. 31, 2017
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	In May 2014, the FASB issued ASU 2014-9, “Revenue from Contracts with Customers (Topic 606).” This guidance requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, this guidance was amended deferring the effective date to annual reporting periods beginning after December 15, 2017. The Company will adopt this standard in fiscal year 2019. The Company has not yet determined the effect, if any, that the adoption of this standard will have on the Company’s financial position or results of operations. In November 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-17, “Income Taxes (Topic 740) – Balance Sheet Classification of Deferred Taxes.” This guidance eliminates the requirement to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. Instead, the update requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, with early adoption permitted prospectively or retrospectively. The Company early adopted this guidance prospectively beginning with the Consolidated Balance Sheet at April 30, 2016. Prior periods were not retrospectively adjusted. In April 2015, the FASB issued ASU 2015-03, “Interest (Topic 835) – Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs.” This guidance requires that debt issuance costs related to a recognized liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. The Company adopted this standard effective May 1, 2016. The adoption of this standard did not have a significant impact on the Company’s consolidated financial position or results of operations.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Jan. 31, 2017
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories consisted of the following (in thousands): January 31, 2017 April 30, 2016 Finished products $ 3,568 $ 3,707 Work in process 2,101 1,889 Raw materials 10,062 10,030 $ 15,731 $ 15,626

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Jan. 31, 2017
Segment Reporting [Abstract]
Segment Information	The following table provides financial information by business segments for the three and nine months ended January 31, 2017 and 2016 (in thousands): Domestic International Corporate Total Three months ended January 31, 2017 Revenues from external customers $ 25,313 $ 5,058 $ — $ 30,371 Intersegment revenues 344 538 (882 ) — Earnings (loss) before income taxes 563 943 (1,015 ) 491 Three months ended January 31, 2016 Revenues from external customers $ 25,423 $ 6,987 $ — $ 32,410 Intersegment revenues 1,196 421 (1,617 ) — Earnings (loss) before income taxes 1,586 702 (1,215 ) 1,073 Domestic International Corporate Total Nine months ended January 31, 2017 Revenues from external customers $ 83,161 $ 20,818 $ — $ 103,979 Intersegment revenues 3,781 2,936 (6,717 ) — Earnings (loss) before income taxes 5,580 3,010 (3,670 ) 4,920 Nine months ended January 31, 2016 Revenues from external customers $ 76,017 $ 18,519 $ — $ 94,536 Intersegment revenues 1,642 1,694 (3,336 ) — Earnings (loss) before income taxes 5,346 2,002 (3,588 ) 3,760

Defined Benefit Pension Plans (

Defined Benefit Pension Plans (Tables)	9 Months Ended
	Jan. 31, 2017
Compensation and Retirement Disclosure [Abstract]
Pension Expenses	Pension expense consisted of the following (in thousands): Three months ended Three months ended Service cost $ -0- $ -0- Interest cost 232 224 Expected return on plan assets (311 ) (334 ) Recognition of net loss 314 329 Net periodic pension expense $ 235 $ 219 Nine months ended Nine months ended Service cost $ -0- $ -0- Interest cost 695 684 Expected return on plan assets (932 ) (1,022 ) Recognition of net loss 942 917 Net periodic pension expense $ 705 $ 579

Fair Value of Financial Instr20

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Jan. 31, 2017
Fair Value Disclosures [Abstract]
Summary of Fair Value Hierarchy for Financial Assets and Liabilities Measured Recurring and Nonrecurring Basis	The following tables summarize the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring and nonrecurring basis as of January 31, 2017 and April 30, 2016 (in thousands): January 31, 2017 Financial Assets Level 1 Level 2 Total Trading securities held in non-qualified compensation plans (1) $ 3,608 $ — $ 3,608 Cash surrender value of life insurance policies (1) — 62 62 Total $ 3,608 $ 62 $ 3,670 Financial Liabilities Non-qualified compensation plans (2) $ — $ 4,021 $ 4,021 Interest rate swap derivatives — 80 80 Total $ — $ 4,101 $ 4,101 April 30, 2016 Financial Assets Level 1 Level 2 Total Trading securities held in non-qualified compensation plans (1) $ 3,867 $ — $ 3,867 Cash surrender value of life insurance policies (1) — 62 62 Total $ 3,867 $ 62 $ 3,929 Financial Liabilities Non-qualified compensation plans (2) $ — $ 4,215 $ 4,215 Interest rate swap derivatives — 166 166 Total $ — $ 4,381 $ 4,381 (1) The Company maintains two non-qualified compensation plans which include investment assets in a rabbi trust. These assets consist of marketable securities, which are valued using quoted market prices multiplied by the number of shares owned, and life insurance policies, which are valued at their cash surrender value. (2) Plan liabilities are equal to the individual participants’ account balances and other earned retirement benefits.

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Earnings Per Share [Abstract]
Anti-dilutive options exclude from computation of earning per share	39,200	111,400	39,200	111,400

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jan. 31, 2017	Apr. 30, 2016
Inventory Disclosure [Abstract]
Finished products	$ 3,568	$ 3,707
Work in process	2,101	1,889
Raw materials	10,062	10,030
Total inventories	$ 15,731	$ 15,626

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($)	Jan. 31, 2017	Apr. 30, 2016
Inventory Disclosure [Abstract]
LIFO inventory amount	$ 14,272,000	$ 13,373,000

Segment Information - Segment I

Segment Information - Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Segment Reporting Information [Line Items]
Revenues from external customers	$ 30,371	$ 32,410	$ 103,979	$ 94,536
Earnings (loss) before income taxes	491	1,073	4,920	3,760
Corporate [Member]
Segment Reporting Information [Line Items]
Intersegment revenues	(882)	(1,617)	(6,717)	(3,336)
Earnings (loss) before income taxes	(1,015)	(1,215)	(3,670)	(3,588)
Domestic Operations [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	25,313	25,423	83,161	76,017
Intersegment revenues	344	1,196	3,781	1,642
Earnings (loss) before income taxes	563	1,586	5,580	5,346
International Operations [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	5,058	6,987	20,818	18,519
Intersegment revenues	538	421	2,936	1,694
Earnings (loss) before income taxes	$ 943	$ 702	$ 3,010	$ 2,002

Defined Benefit Pension Plans -

Defined Benefit Pension Plans - Additional Information (Detail) - USD ($)	9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Contributions made by company	$ 555,000	$ 64,000
Company expected contributions remainder of fiscal year	$ 0

Defined Benefit Pension Plans26

Defined Benefit Pension Plans - Pension Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	232	224	695	684
Expected return on plan assets	(311)	(334)	(932)	(1,022)
Recognition of net loss	314	329	942	917
Net periodic pension expense	$ 235	$ 219	$ 705	$ 579

Fair Value of Financial Instr27

Fair Value of Financial Instruments - Summary of Fair Value Hierarchy for Financial Assets and Liabilities Measured Recurring and Nonrecurring Basis (Detail) - USD ($) $ in Thousands	Jan. 31, 2017	Apr. 30, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial Assets	$ 3,670	$ 3,929
Financial Liabilities	4,101	4,381
Trading Securities Held in Non-Qualified Compensation Plans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial Assets	3,608	3,867
Cash Surrender Value of Life Insurance Policies [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial Assets	62	62
Non Qualified Compensation Plans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial Liabilities	4,021	4,215
Interest Rate Swap Derivatives [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial Liabilities	80	166
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial Assets	3,608	3,867
Level 1 [Member] | Trading Securities Held in Non-Qualified Compensation Plans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial Assets	3,608	3,867
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial Assets	62	62
Financial Liabilities	4,101	4,381
Level 2 [Member] | Cash Surrender Value of Life Insurance Policies [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial Assets	62	62
Level 2 [Member] | Non Qualified Compensation Plans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial Liabilities	4,021	4,215
Level 2 [Member] | Interest Rate Swap Derivatives [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial Liabilities	$ 80	$ 166

Fair Value of Financial Instr28

Fair Value of Financial Instruments - Summary of Fair Value Hierarchy for Financial Assets and Liabilities Measured Recurring and Nonrecurring Basis (Parenthetical) (Detail)	Jan. 31, 2017CompensationPlan
Regulatory Assets [Abstract]
Number of non-qualified compensation plans maintained	2