National Beverage (FIZZ) 10-Q 5 Mar 14 2014 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Jan. 25, 2014	Feb. 26, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'NATIONAL BEVERAGE CORP	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--05-03	'
Entity Common Stock, Shares Outstanding	'	46,332,515
Amendment Flag	'false	'
Entity Central Index Key	'0000069891	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Accelerated Filer	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	25-Jan-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'

Consolidated_Balance_Sheets_Un

Consolidated Balance Sheets (Unaudited) (USD $)	Jan. 25, 2014	Apr. 27, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and equivalents	$27,115	$18,267
Trade receivables - net	51,257	64,069
Inventories	42,463	39,234
Deferred income taxes - net	3,534	3,665
Prepaid and other assets	7,738	5,706
Total current assets	132,107	130,941
Property, plant and equipment - net	57,734	57,307
Goodwill	13,145	13,145
Intangible assets	1,615	1,615
Other assets	5,549	5,634
Total assets	210,150	208,642
Current liabilities:	'	'
Accounts payable	33,099	44,261
Accrued liabilities	15,333	19,142
Income taxes payable	90	34
Total current liabilities	48,522	63,437
Long-term debt	35,000	50,000
Deferred income taxes - net	14,272	14,327
Other liabilities	10,382	10,562
Preferred stock, $1 par value - 1,000,000 shares authorized:	'	'
Common stock, $.01 par value - 75,000,000 shares authorized; 50,364,699 shares issued (50,361,799 shares at April 27, 2013)	504	504
Additional paid-in capital	50,419	50,398
Retained earnings	69,082	37,828
Accumulated other comprehensive loss	-581	-964
Treasury stock - at cost:	'	'
Total shareholders' equity	101,974	70,316
Total liabilities and shareholders' equity	210,150	208,642
Series C Preferred Stock [Member]	'	'
Preferred stock, $1 par value - 1,000,000 shares authorized:	'	'
Preferred stock	150	150
Treasury stock - at cost:	'	'
Treasury Stock	-5,100	-5,100
Series D Preferred Stock [Member]	'	'
Preferred stock, $1 par value - 1,000,000 shares authorized:	'	'
Preferred stock	400	400
Common Treasury Stock [Member]	'	'
Treasury stock - at cost:	'	'
Treasury Stock	($12,900)	($12,900)

Consolidated_Balance_Sheets_Un1

Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $)	Jan. 25, 2014	Apr. 27, 2013
In Thousands, except Share data, unless otherwise specified
Preferred stock, shares authorized	1,000,000	1,000,000
Common stock, par value (in Dollars per share)	$0.01	$0.01
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	50,364,699	50,361,799
Series C Preferred Stock [Member]	'	'
Preferred stock, par value (in Dollars per share)	$1	$1
Preferred stock, shares issued	150,000	150,000
Treasury Stock, shares	150,000	150,000
Series D Preferred Stock [Member]	'	'
Preferred stock, par value (in Dollars per share)	$1	$1
Preferred stock, shares issued	400,000	400,000
Preferred stock, aggregate liquidation preference (in Dollars)	$20,000	$20,000
Common Treasury Stock [Member]	'	'
Treasury Stock, shares	4,032,784	4,032,784

Consolidated_Statements_of_Inc

Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jan. 25, 2014	Jan. 26, 2013	Jan. 25, 2014	Jan. 26, 2013
Net sales	$136,774	$144,723	$476,793	$494,140
Cost of sales	92,086	98,370	314,526	334,903
Gross profit	44,688	46,353	162,267	159,237
Selling, general and administrative expenses	34,461	33,930	114,228	106,310
Interest expense	153	116	515	179
Other (income) expense - net	-208	23	-150	145
Income before income taxes	10,282	12,284	47,674	52,603
Provision for income taxes	3,146	3,870	15,971	17,780
Net income	7,136	8,414	31,703	34,823
Less preferred dividends	-150	-3	-449	-3
Earnings available to common shareholders	$6,986	$8,411	$31,254	$34,820
Earnings per common share:	'	'	'	'
Basic (in Dollars per share)	$0.15	$0.18	$0.67	$0.75
Diluted (in Dollars per share)	$0.15	$0.18	$0.67	$0.75
Weighted average common shares outstanding:	'	'	'	'
Basic (in Shares)	46,331	46,321	46,330	46,304
Diluted (in Shares)	46,522	46,482	46,516	46,478

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Jan. 25, 2014	Jan. 26, 2013	Jan. 25, 2014	Jan. 26, 2013
Net income	$7,136	$8,414	$31,703	$34,823
Other comprehensive gain, net of tax:	'	'	'	'
Cash flow hedges	342	615	383	235
Comprehensive income	$7,478	$9,029	$32,086	$35,058

Consolidated_Statements_of_Sha

Consolidated Statements of Shareholders' Equity (Unaudited) (USD $)	Preferred Stock [Member]	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Treasury Stock [Member]	Total
In Thousands, unless otherwise specified	Series C Preferred Stock [Member]	Series D Preferred Stock [Member]					Series C Preferred Stock [Member]	Common Treasury Stock [Member]
Beginning and end of period at Apr. 28, 2012	$150	'	$503	$30,425	$109,200	($642)	($5,100)	($12,900)	'
Series C Preferred Stock	'	'	'	'	'	'	'	'	'
Cash flow hedges, net of tax	'	'	'	'	'	235	'	'	235
Net income	'	'	'	'	34,823	'	'	'	34,823
Common stock cash dividend	'	'	'	'	-118,139	'	'	'	'
Preferred stock cash dividend	'	'	'	'	-3	'	'	'	'
Other	'	'	1	330	'	'	'	'	'
Preferred stock issued	'	400	'	19,310	'	'	'	'	'
Stock-based compensation	'	'	'	183	'	'	'	'	'
End of period at Jan. 26, 2013	'	400	504	50,248	25,881	-407	'	'	58,776
Beginning and end of period at Apr. 27, 2013	150	400	504	50,398	37,828	-964	-5,100	-12,900	70,316
Series C Preferred Stock	'	'	'	'	'	'	'	'	'
Cash flow hedges, net of tax	'	'	'	'	'	383	'	'	383
Net income	'	'	'	'	31,703	'	'	'	31,703
Preferred stock cash dividend	'	'	'	'	-449	'	'	'	'
Other	'	'	'	-35	'	'	'	'	'
Stock-based compensation	'	'	'	56	'	'	'	'	'
End of period at Jan. 25, 2014	'	$400	$504	$50,419	$69,082	($581)	'	'	$101,974

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Jan. 25, 2014	Jan. 26, 2013
Operating Activities:	'	'
Net income	$31,703	$34,823
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Depreciation and amortization	8,909	8,435
Deferred income tax benefit	-149	-453
Loss on disposal of property, net	10	56
Stock-based compensation	56	183
Changes in assets and liabilities:	'	'
Trade receivables	12,812	10,413
Inventories	-3,229	-800
Prepaid and other assets	-1,814	-1,540
Accounts payable	-11,162	-19,949
Accrued and other liabilities	-4,829	-4,198
Net cash provided by operating activities	32,307	26,970
Investing Activities:	'	'
Additions to property, plant and equipment	-8,009	-6,025
Proceeds from sale of property, plant and equipment	34	22
Net cash used in investing activities	-7,975	-6,003
Financing Activities:	'	'
Dividends paid on common stock	'	-118,139
Dividends paid on preferred stock	-449	'
Borrowings (repayments) under credit facilities, net	-15,000	60,000
Proceeds from sale of preferred stock, net	'	19,710
Other, net	-35	331
Net cash used in financing activities	-15,484	-38,098
Net Increase (Decrease) in Cash and Equivalents	8,848	-17,131
Cash and Equivalents - Beginning of Year	18,267	35,626
Cash and Equivalents - End of Period	27,115	18,495
Other Cash Flow Information:	'	'
Interest paid	589	160
Income taxes paid	$17,835	$17,527

Note_1_Significant_Accounting_

Note 1 - Significant Accounting Policies	9 Months Ended
	Jan. 25, 2014
Accounting Policies [Abstract]	'
Significant Accounting Policies [Text Block]	'
	1. SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	The consolidated financial statements include the accounts of National Beverage Corp. and its subsidiaries. Significant intercompany transactions and accounts have been eliminated.
	The consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) and rules and regulations of the Securities and Exchange Commission for interim financial reporting. Accordingly, they do not include all information and notes presented in the annual consolidated financial statements. The consolidated financial statements should be read in conjunction with the annual consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the fiscal year ended April 27, 2013. The accounting policies used in these interim consolidated financial statements are consistent with those used in the annual consolidated financial statements.
	The preparation of financial statements requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. In our opinion, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Results for the interim periods presented are not necessarily indicative of results which might be expected for the entire fiscal year.
	Derivative Financial Instruments
	We use derivative financial instruments to partially mitigate our exposure to changes in raw material costs. All derivative financial instruments are recorded at fair value in our Consolidated Balance Sheets. The estimated fair value of derivative financial instruments is calculated based on market rates to settle the instruments. We do not use derivative financial instruments for trading or speculative purposes. Credit risk related to derivative financial instruments is managed by requiring high credit standards for counterparties and frequent cash settlements. See Note 5.
	Earnings Per Common Share
	Basic earnings per common share is computed by dividing earnings available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated in a similar manner, but includes the dilutive effect of stock options.
	Inventories
	Inventories are stated at the lower of first-in, first-out cost or market. Inventories at January 25, 2014 are comprised of finished goods of $24.0 million and raw materials of $18.5 million. Inventories at April 27, 2013 are comprised of finished goods of $23.2 million and raw materials of $16.0 million.

Note_2_Property_Plant_and_Equi

Note 2 - Property, Plant and Equipment	9 Months Ended
	Jan. 25, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment Disclosure [Text Block]	'
	2. PROPERTY, PLANT AND EQUIPMENT
	Property consists of the following:
		(In thousands)
		January 25,			April 27,
		2014			2013
	Land	$	9,779		$	9,779
	Buildings and improvements		50,347			49,391
	Machinery and equipment		147,289			141,314
	Total		207,415			200,484
	Less accumulated depreciation		(149,681	)		(143,177	)
	Property, plant and equipment – net	$	57,734		$	57,307
	Depreciation expense was $2.5 million and $7.5 million for the three and nine months ended January 25, 2014, respectively, and $2.2 million and $6.9 million for the three and nine months ended January 26, 2013, respectively.

Note_3_Debt

Note 3 - Debt	9 Months Ended
	Jan. 25, 2014
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	3. DEBT
	At January 25, 2014, a subsidiary of the Company maintained unsecured revolving credit facilities with banks aggregating $100 million (the “Credit Facilities”). The Credit Facilities expire from November 22, 2015 to April 30, 2016 and current borrowings bear interest at .9% above one-month LIBOR (1.1% at January 25, 2014). At January 25, 2014, borrowings outstanding under the Credit Facilities were $35 million, $2.3 million of the Credit Facilities were used for standby letters of credit and $62.7 million were available for borrowings.
	The Credit Facilities require the subsidiary to maintain certain financial ratios, including debt to net worth and debt to EBITDA (as defined in the Credit Facilities), and contain other restrictions, none of which are expected to have a material effect on our operations or financial position. At January 25, 2014, we were in compliance with all loan covenants.

Note_4_StockBased_Compensation

Note 4 - Stock-Based Compensation	9 Months Ended
	Jan. 25, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	'
	4. STOCK-BASED COMPENSATION
	During the nine months ended January 25, 2014, options to purchase 5,245 shares of common stock were granted (weighted average exercise price of $7.43 per share), options to purchase 2,900 shares were exercised (weighted average exercise price of $5.75 per share), and options to purchase 35,900 shares were cancelled (weighted average exercise price of $7.66). At January 25, 2014, options to purchase 408,255 shares (weighted average exercise price of $6.70 per share) were outstanding and stock-based awards to purchase 3,037,289 shares of common stock were available for grant.

Note_5_Derivative_Financial_In

Note 5 - Derivative Financial Instruments	9 Months Ended
	Jan. 25, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Derivative Instruments and Hedging Activities Disclosure [Text Block]	'
	5. DERIVATIVE FINANCIAL INSTRUMENTS
	We have entered into various aluminum swap contracts to partially mitigate our exposure to changes in the cost of aluminum cans through April 2014. The financial instruments were designated and accounted for as a cash flow hedge. Accordingly, gains or losses attributable to the effective portion of the cash flow hedge are reported in Accumulated Other Comprehensive Loss (“AOCL”) and reclassified into earnings through cost of sales in the period in which the hedged transaction affects earnings. The ineffective portion of the change in fair value of our cash flow hedge was immaterial. The following summarizes the gains (losses) recognized in the Consolidated Statements of Income and Comprehensive Income relative to cash flow hedges for the three and nine months ended January 25, 2014 and January 26, 2013:
		(In thousands)
		Three Months Ended						Nine Months Ended
		2014			2013			2014			2013
	Recognized in AOCL:
	Gain (loss) before income taxes	$	(53	)	$	735		$	(1,203	)	$	(1,408	)
	Less income tax provision (benefit)		(20	)		272			(447	)		(523	)
	Net	$	(33	)	$	463		$	(756	)	$	(885	)
	Reclassified from AOCL to cost of sales:
	Loss before income taxes	$	(596	)	$	(242	)	$	(1,811	)	$	(1,788	)
	Less income tax benefit		(221	)		(90	)		(672	)		(668	)
	Net	$	(375	)	$	(152	)	$	(1,139	)	$	(1,120	)
	Net change to AOCL	$	342		$	615		$	383		$	235
	As of January 25, 2014, the notional amount of our outstanding aluminum swap contracts was $8.2 million and, assuming no change in the commodity prices, $356,000 of unrealized loss before tax will be reclassified from AOCL and recognized in cost of sales over the next three months. See Note 1.
	As of January 25, 2014 and April 27, 2013, the fair value of the derivative liability was $356,000 and $964,000, respectively, which was included in accrued liabilities. Such valuation does not entail a significant amount of judgment and the inputs that are significant to the fair value measurement are Level 2 as defined by the fair value hierarchy as they are observable market based inputs or unobservable inputs that are corroborated by market data.

Note_6_Commitments_and_Conting

Note 6 - Commitments and Contingencies	9 Months Ended
	Jan. 25, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	6. COMMITMENTS AND CONTINGENCIES
	As of January 25, 2014, we guaranteed the residual value of certain leased equipment in the amount of $5.7 million. On August 1, 2013, the lease term was extended for 12 months to August 1, 2014. If the proceeds from the sale of such equipment are less than the balance required by the lease when the lease terminates, the Company will be required to pay the difference up to such guaranteed amount. The Company expects to have no loss on such guarantee.

Note_7_Common_Stock_Cash_Divid

Note 7 - Common Stock Cash Dividends	9 Months Ended
	Jan. 25, 2014
Common Stock Cash Dividends [Abstract]	'
Common Stock Cash Dividends [Text Block]	'
	7. COMMON STOCK CASH DIVIDENDS
	On November 23, 2012, the Company declared a special cash dividend of $2.55 per share payable to shareholders of record on December 7, 2012. The cash dividend, aggregating $118.1 million, was paid from available cash and borrowings under credit facilities on December 27, 2012.

Accounting_Policies_by_Policy_

Accounting Policies, by Policy (Policies)	9 Months Ended
	Jan. 25, 2014
Accounting Policies [Abstract]	'
Basis of Accounting, Policy [Policy Text Block]	'
	Basis of Presentation
	The consolidated financial statements include the accounts of National Beverage Corp. and its subsidiaries. Significant intercompany transactions and accounts have been eliminated.
	The consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) and rules and regulations of the Securities and Exchange Commission for interim financial reporting. Accordingly, they do not include all information and notes presented in the annual consolidated financial statements. The consolidated financial statements should be read in conjunction with the annual consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the fiscal year ended April 27, 2013. The accounting policies used in these interim consolidated financial statements are consistent with those used in the annual consolidated financial statements.
	The preparation of financial statements requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. In our opinion, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Results for the interim periods presented are not necessarily indicative of results which might be expected for the entire fiscal year.
Derivatives, Policy [Policy Text Block]	'
	Derivative Financial Instruments
	We use derivative financial instruments to partially mitigate our exposure to changes in raw material costs. All derivative financial instruments are recorded at fair value in our Consolidated Balance Sheets. The estimated fair value of derivative financial instruments is calculated based on market rates to settle the instruments. We do not use derivative financial instruments for trading or speculative purposes. Credit risk related to derivative financial instruments is managed by requiring high credit standards for counterparties and frequent cash settlements. See Note 5.
Earnings Per Share, Policy [Policy Text Block]	'
	Earnings Per Common Share
	Basic earnings per common share is computed by dividing earnings available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated in a similar manner, but includes the dilutive effect of stock options.
Inventory, Policy [Policy Text Block]	'
	Inventories
	Inventories are stated at the lower of first-in, first-out cost or market. Inventories at January 25, 2014 are comprised of finished goods of $24.0 million and raw materials of $18.5 million. Inventories at April 27, 2013 are comprised of finished goods of $23.2 million and raw materials of $16.0 million

Note_2_Property_Plant_and_Equi1

Note 2 - Property, Plant and Equipment (Tables)	9 Months Ended
	Jan. 25, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment [Table Text Block]	'
		(In thousands)
		January 25,			April 27,
		2014			2013
	Land	$	9,779		$	9,779
	Buildings and improvements		50,347			49,391
	Machinery and equipment		147,289			141,314
	Total		207,415			200,484
	Less accumulated depreciation		(149,681	)		(143,177	)
	Property, plant and equipment – net	$	57,734		$	57,307

Note_5_Derivative_Financial_In1

Note 5 - Derivative Financial Instruments (Tables)	9 Months Ended
	Jan. 25, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]	'
		(In thousands)
		Three Months Ended						Nine Months Ended
		2014			2013			2014			2013
	Recognized in AOCL:
	Gain (loss) before income taxes	$	(53	)	$	735		$	(1,203	)	$	(1,408	)
	Less income tax provision (benefit)		(20	)		272			(447	)		(523	)
	Net	$	(33	)	$	463		$	(756	)	$	(885	)
	Reclassified from AOCL to cost of sales:
	Loss before income taxes	$	(596	)	$	(242	)	$	(1,811	)	$	(1,788	)
	Less income tax benefit		(221	)		(90	)		(672	)		(668	)
	Net	$	(375	)	$	(152	)	$	(1,139	)	$	(1,120	)
	Net change to AOCL	$	342		$	615		$	383		$	235

Note_1_Significant_Accounting_1

Note 1 - Significant Accounting Policies (Details) (USD $)	Jan. 25, 2014	Apr. 27, 2013
In Millions, unless otherwise specified
Accounting Policies [Abstract]	'	'
Inventory, Finished Goods, Net of Reserves	$24	$23.20
Inventory, Raw Materials, Net of Reserves	$18.50	$16

Note_2_Property_Plant_and_Equi2

Note 2 - Property, Plant and Equipment (Details) (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Jan. 25, 2014	Jan. 26, 2013	Jan. 25, 2014	Jan. 26, 2013
Property, Plant and Equipment [Abstract]	'	'	'	'
Depreciation	$2.50	$2.20	$7.50	$6.90

Note_2_Property_Plant_and_Equi3

Note 2 - Property, Plant and Equipment (Details) - Properties (USD $)	Jan. 25, 2014	Apr. 27, 2013
In Thousands, unless otherwise specified
Properties [Abstract]	'	'
Land	$9,779	$9,779
Buildings and improvements	50,347	49,391
Machinery and equipment	147,289	141,314
Total	207,415	200,484
Less accumulated depreciation	-149,681	-143,177
Property, plant and equipment b net	$57,734	$57,307

Note_3_Debt_Details

Note 3 - Debt (Details) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Jan. 25, 2014
Note 3 - Debt (Details) [Line Items]	'
Line of Credit Facility, Maximum Borrowing Capacity	$100
Debt Instrument, Basis Spread on Variable Rate	0.90%
Line of Credit Facility, Amount Outstanding	35
Letters of Credit Outstanding, Amount	2.3
Line of Credit Facility, Remaining Borrowing Capacity	$62.70
London Interbank Offered Rate (LIBOR) [Member]	'
Note 3 - Debt (Details) [Line Items]	'
Debt Instrument, Interest Rate at Period End	1.10%

Note_4_StockBased_Compensation1

Note 4 - Stock-Based Compensation (Details) (USD $)	9 Months Ended
	Jan. 25, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	5,245
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share)	$7.43
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	2,900
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in Dollars per share)	$5.75
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period	35,900
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price (in Dollars per share)	$7.66
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	408,255
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share)	$6.70
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	3,037,289

Note_5_Derivative_Financial_In2

Note 5 - Derivative Financial Instruments (Details) (USD $)	Jan. 25, 2014	Apr. 27, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'	'
Derivative, Notional Amount	$8,200,000	'
Price Risk Cash Flow Hedge Unrealized Gain (Loss) to be Reclassified During Next 12 Months	-356,000	'
Derivative Liability, Fair Value, Gross Liability	$356,000	$964,000

Note_5_Derivative_Financial_In3

Note 5 - Derivative Financial Instruments (Details) - Derivatives Instruments Statements of Financial Performance and Financial Position (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Jan. 25, 2014	Jan. 26, 2013	Jan. 25, 2014	Jan. 26, 2013
Recognized in AOCL:	'	'	'	'
Gain (loss) before income taxes	($53)	$735	($1,203)	($1,408)
Less income tax provision (benefit)	-20	272	-447	-523
Net	-33	463	-756	-885
Reclassified from AOCL to cost of sales:	'	'	'	'
Loss before income taxes	-596	-242	-1,811	-1,788
Less income tax benefit	-221	-90	-672	-668
Net	-375	-152	-1,139	-1,120
Net change to AOCL	$342	$615	$383	$235

Note_6_Commitments_and_Conting1

Note 6 - Commitments and Contingencies (Details) (USD $)	Jan. 25, 2014
In Millions, unless otherwise specified
Commitments and Contingencies Disclosure [Abstract]	'
Leveraged Leases, Net Investment in Leveraged Leases Disclosure, Residual Value of Leased Assets	$5.70

Note_7_Common_Stock_Cash_Divid1

Note 7 - Common Stock Cash Dividends (Details) (USD $)	1 Months Ended
In Millions, except Per Share data, unless otherwise specified	Dec. 27, 2012	Nov. 23, 2012
Common Stock Cash Dividends [Abstract]	'	'
Common Stock, Dividends, Per Share, Declared (in Dollars per share)	'	$2.55
Dividends, Common Stock	$118.10	'