SigmaTron International (SGMA) 10-Q 13 Mar 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Jan. 31, 2014	Mar. 13, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Jan-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Trading Symbol	'sgma	'
Entity Registrant Name	'SIGMATRON INTERNATIONAL INC	'
Entity Central Index Key	'0000915358	'
Current Fiscal Year End Date	'--04-30	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	3,983,107

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Jan. 31, 2014	Apr. 30, 2013
Current assets:	'	'
Cash	$3,879,181	$4,607,731
Accounts receivable, less allowance for doubtful accounts of $150,000 at January 31, 2014 and April 30, 2013	19,675,393	19,421,252
Inventories, net	56,192,478	50,644,741
Prepaid expenses and other assets	1,671,113	1,882,680
Refundable income taxes	'	228,026
Deferred income taxes	1,983,119	1,630,809
Other receivables	79,940	524,268
Total current assets	83,481,224	78,939,507
Property, machinery and equipment, net	32,792,293	28,567,052
Intangible assets, net of amortization of $3,222,768 and $2,962,566 at January 31, 2014 and April 30, 2013	5,689,232	5,949,434
Goodwill	3,222,899	3,222,899
Other assets	783,171	910,025
Total other long-term assets	9,695,302	10,082,358
Total assets	125,968,819	117,588,917
Current liabilities:	'	'
Trade accounts payable	30,156,167	31,347,354
Accrued taxes	127,433	'
Accrued wages	3,154,222	3,633,900
Accrued expenses	2,199,033	2,486,819
Current portion of long-term debt	150,996	99,996
Current portion of capital lease obligations	664,358	229,661
Current portion of contingent consideration	331,429	331,429
Total current liabilities	36,783,638	38,129,159
Long-term debt, less current portion	26,864,551	20,575,017
Capital lease obligations, less current portion	2,106,777	577,221
Contingent consideration, less current portion	1,598,571	1,793,571
Other long-term liabilities	507,219	487,236
Deferred rent	1,158,277	1,096,272
Deferred income taxes	2,299,853	2,946,710
Total long-term liabilities	34,535,248	27,476,027
Total liabilities	71,318,886	65,605,186
Commitments and contingencies:	'	'
Stockholders' equity:	'	'
Preferred stock, $.01 par value; 500,000 shares authorized, none issued or outstanding	'	'
Common stock, $.01 par value; 12,000,000 shares authorized, 3,979,332 and 3,940,402 shares issued and outstanding at January 31, 2014 and April 30, 2013	39,960	39,779
Capital in excess of par value	20,531,120	20,361,012
Retained earnings	34,078,853	31,582,940
Total stockholders' equity	54,649,933	51,983,731
Total liabilities and stockholders' equity	$125,968,819	$117,588,917

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Jan. 31, 2014	Apr. 30, 2013
Consolidated Balance Sheets [Abstract]	'	'
Accounts receivable, Allowance for doubtful accounts	$150,000	$150,000
Intangible assets, Amortization	$3,222,768	$2,962,566
Preferred stock, par value	$0.01	$0.01
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	12,000,000	12,000,000
Common stock, shares issued	3,979,332	3,940,402
Common stock, shares outstanding	3,979,332	3,940,402

Consolidated_Statements_Of_Ope

Consolidated Statements Of Operations (USD $)	3 Months Ended		9 Months Ended
	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2014	Jan. 31, 2013
Consolidated Statements Of Operations [Abstract]	'	'	'	'
Net sales	$54,175,196	$46,758,568	$166,918,544	$147,117,192
Cost of products sold	49,357,816	42,636,191	149,816,620	132,885,747
Gross profit	4,817,380	4,122,377	17,101,924	14,231,445
Selling and administrative expenses	4,725,540	4,380,524	14,420,852	13,725,684
Operating income (loss)	91,840	-258,147	2,681,072	505,761
Other income	-35,076	'	-86,048	-500
Interest expense	257,098	220,977	707,152	626,684
(Loss) income from operations before income tax expense	-130,182	-479,124	2,059,968	-120,423
Income tax benefit	-873,976	-262,348	-435,944	-293,337
Net income (loss)	$743,794	($216,776)	$2,495,912	$172,914
Earnings (loss) per share - basic	$0.19	($0.06)	$0.63	$0.04
Earnings (loss) per share - diluted	$0.18	($0.06)	$0.62	$0.04
Weighted average shares of common stock outstanding Basic	3,966,814	3,930,402	3,963,093	3,927,761
Weighted average shares of common stock outstanding Diluted	4,088,695	3,930,402	4,055,898	3,995,678

Consolidated_Statements_Of_Cas

Consolidated Statements Of Cash Flows (USD $)	9 Months Ended
	Jan. 31, 2014	Jan. 31, 2013
Operating activities:	'	'
Net income	$2,495,912	$172,914
Adjustments to reconcile net income to net cash (used in) provided by operating activities:	'	'
Depreciation and amortization	3,602,726	3,279,940
Stock-based compensation	73,115	157,142
Restricted stock expense	32,016	60,625
Deferred income taxes	-999,167	11,024
Amortization of intangibles	260,202	206,453
Loss from disposal or sale of machinery and equipment	29,725	378
Tender offer - stock options	300,410	'
Changes in operating assets and liabilities, net of assets and liabilities acquired	'	'
Accounts receivable	-254,141	-2,781,759
Inventories	-5,547,737	-2,616,116
Prepaid expenses and other assets	782,749	-793,009
Refundable Income taxes	228,026	-688,950
Trade accounts payable	-1,191,187	2,003,224
Deferred rent	62,005	336,968
Accrued expenses and wages	-942,481	-269,967
Income taxes payable	127,433	'
Net cash used in operating activities	-940,394	-921,133
Investing activities:	'	'
Purchases of machinery and equipment	-7,857,691	-4,808,626
Cash received in conjunction with acquisition	'	1,142,597
Net cash used in investing activities	-7,857,691	-3,666,029
Financing activities:	'	'
Proceeds from the issuance of common stock	65,158	'
Payment of tendered stock options	-300,410	'
Proceeds under sale lease back agreement	2,281,354	'
Payments under capital lease obligations	-404,848	-238,651
Payments under notes payable agreements	'	-26,832
Net proceeds under lines of credit	5,153,281	4,450,869
Proceeds from issuance of notes payable	1,275,000	'
Net cash provided by financing activities	8,069,535	4,185,386
Change in cash	-728,550	-401,776
Cash at beginning of period	4,607,731	4,668,931
Cash at end of period	3,879,181	4,267,155
Supplementary disclosures of cash flow information	'	'
Cash paid for interest	639,629	594,405
Cash paid for income taxes	4,200	24,310
Cash refunded for income taxes	212,436	'
Purchase of machinery and equipment financed under capital leases	2,281,354	'
Non-Cash Transaction - Acquisition of Spitfire Control, Inc.	'	'
SigmaTron International, Inc. A/R trade forgiven	'	15,312,904
SigmaTron International, Inc. foreign A/R trade forgiven	'	1,142,392
Contingent consideration	'	2,320,000
Issuance of restricted stock	'	169,011
Total Cost of Acquisition	'	$18,944,307

Basis_Of_Presentation

Basis Of Presentation	9 Months Ended
	Jan. 31, 2014
Basis Of Presentation [Abstract]	'
Basis Of Presentation	'
	Note A - Basis of Presentation
	The accompanying unaudited consolidated financial statements of SigmaTron International, Inc. (“SigmaTron”), SigmaTron’s wholly-owned subsidiaries Standard Components de Mexico S.A., AbleMex, S.A. de C.V., Digital Appliance Controls de Mexico, S.A. de C.V., Spitfire Controls (Vietnam) Co. Ltd., Spitfire Controls (Cayman) Co. Ltd. and wholly-owned foreign enterprises Wujiang SigmaTron Electronics Co., Ltd. and SigmaTron Electronic Technology Co., Ltd. (“SigmaTron China”) and international procurement office SigmaTron Taiwan branch (collectively, the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X.
	Accordingly, the consolidated financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.  In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included.  Operating results for the three and nine month periods ended January 31, 2014 are not necessarily indicative of the results that may be expected for the year ending April 30, 2014.  For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended April 30, 2013.
	On May 31, 2012, SigmaTron acquired certain assets and assumed certain liabilities of Spitfire Control, Inc. (“Spitfire”).  Spitfire was a privately held Illinois corporation headquartered in Carpentersville, Illinois with captive manufacturing sites in Chihuahua, Mexico and suburban Ho Chi Minh City, Vietnam.  Both manufacturing sites were among the assets acquired by the Company.
	Certain reclassifications have been made to the previously reported financial statements in order to conform to the current period presentation.

Inventories_Net

Inventories, Net	9 Months Ended
	Jan. 31, 2014
Inventories, Net [Abstract]	'
Inventories, Net	'
	Note B - Inventories, net
	The components of inventory consist of the following:
		January 31,		April 30,
		2014		2013
	Finished products	$	17,130,040	$	13,167,117
	Work-in-process		2,999,909		2,959,144
	Raw materials		37,814,998		36,288,580
			57,944,947		52,414,841
	Less obsolescence reserve		1,752,469		1,770,100
		$	56,192,478	$	50,644,741

Earnings_Loss_Per_Share

Earnings (Loss) Per Share	9 Months Ended
	Jan. 31, 2014
Earnings (Loss) Per Share [Abstract]	'
Earnings (Loss) Per Share	'
	Note C - Earnings (loss) Per Share
	The following table sets forth the computation of basic and diluted earnings per share:
		Three Months Ended				Nine Months Ended
		January 31,				January 31,
		2014		2013		2014		2013
	Net income (loss)	$	743,794	$	-216,776	$	2,495,912	$	172,914
	Weighted-average shares
	Basic		3,966,814		3,930,402		3,963,093		3,927,761
	Effect of dilutive stock options		121,881		-		92,805		67,917
	Diluted		4,088,695		3,930,402		4,055,898		3,995,678
	Basic earnings (loss) per share	$	0.19	$	-0.06	$	0.63	$	0.04
	Diluted earnings (loss) per share	$	0.18	$	-0.06	$	0.62	$	0.04
	Options to purchase 127,042 and 525,192 shares of common stock were outstanding at January 31, 2014 and 2013, respectively.  There were no options granted during the quarters ended January 31, 2014 and 2013.  The Company recognized approximately $18,885 and $32,160 in stock option expense for the three month period ended January 31, 2014 and 2013, respectively.  The Company recognized approximately $66,400 and $157,000 in stock option expense for the nine month period ended January 31, 2014 and 2013, respectively.  The balance of unrecognized compensation cost related to the Company’s stock option plans was approximately $76,700 and $103,000 at January 31, 2014 and 2013, respectively.
	The Company offered to purchase 395,190 Eligible Options (as defined below) from  Eligible Holders (as defined below) upon the terms  stated in Schedule TO (“TO”) filed with the SEC on October 1, 2013.  The stock options subject to the TO were those options to purchase SGMA common stock which had not expired or terminated prior to the Expiration Time (as defined below) having the grant dates and exercise prices set forth in the TO (the “Eligible Options”).  Eligible Options, all of which were fully vested, were granted under the following Company stock option plans: 1993 Stock Option Plan, 2004 Employee Stock Option Plan, 2000 Directors’ Stock Option Plan and 2004 Directors’ Stock Option Plan.
	“Eligible Holders” were: (a) those current or former employees, including all officers, who hold Eligible Options as of the Expiration Time; and (b) all current or former directors of the Company who hold Eligible Options as of the Expiration Time. “Expiration Time” means 11:59 p.m., Eastern Time, on October 29, 2013.
	The Company offered to pay a cash amount ranging from $0.18 to $1.35 per Eligible Option, totaling up to $301,500, as specifically set forth in the TO.  Each Eligible Holder who participated in the TO received cash payment (subject to tax and other withholding for employees) for each properly tendered Eligible Option promptly following the Expiration Time.
	Note C - Earnings (loss) Per Share - Continued
	The Company made this offer subject to the terms and conditions stated in the TO and 394,200 Eligible Options were tendered and purchased for a total cash payment of $300,410.
	The Company issued 25,000 shares of restricted stock on June 1, 2012, of which 8,333 vested in June 2012 and 8,333 vested in June 2013.  The Company recognized approximately $3,400 and $10,900 in compensation expense for the three month period ended January 31, 2014 and 2013, respectively.  The Company recognized approximately $12,000 and $61,000 in compensation expense for the nine month period ended January 31, 2014 and 2013, respectively.  There was no issuance of restricted stock during the quarters ended January 31, 2014 and 2013.  The balance of unrecognized compensation expense related to the Company’s restricted stock award was approximately $5,100 and $28,000 at January 31, 2014 and 2013, respectively.
	During the quarter ended July 31, 2012, the Company issued 50,000 shares of restricted stock as additional consideration in conjunction with the May 31, 2012 Spitfire acquisition.
	On October 1, 2013, the Company granted 1,500 shares to each non-employee director pursuant to the 2013 Non-Employee Director Restricted Stock Plan.  A total of 7,500 restricted shares were granted and the shares vest in six months from the date of grant.  The Company recognized approximately $20,000 in compensation expense for the quarter ended January 31, 2014.  The balance of unrecognized compensation expense related to the 7,500 shares of restricted stock was approximately $12,900 at January 31, 2014.

Longterm_Debt

Long-term Debt	9 Months Ended
	Jan. 31, 2014
Long-term Debt [Abstract]	'
Long-term Debt	'
	Note D - Long-term Debt
	The Company has a senior secured credit facility with Wells Fargo with a credit limit up to $30,000,000 and an initial term through September 30, 2013.  The facility allows the Company to choose among interest rates at which it may borrow funds.  The credit facility is collateralized by substantially all of the domestically located assets of the Company and the Company has pledged 65% of its equity ownership interest in some of its foreign entities.  The Company is required to be in compliance with several financial covenants.  In conjunction with Spitfire acquisition, two of the financial covenants required by terms of the senior secured credit facility were amended as of May 31, 2012.  During the quarter ended October 31, 2013, the Company renewed its senior secured credit facility.  The facility was revised to extend the term of the agreement to October 31, 2015, amend its capital expenditure covenant, terminate the unused line fee and reduced its borrowing interest rates.  The facility allows the Company to choose among interest rates at which it may borrow funds.  The interest rate is prime rate (effective, 3.25% at January 31, 2014) or LIBOR plus two and a one half percent (effectively, 2.75% at January 31, 2014), which is paid monthly.  At January 31, 2014, the Company was in compliance with its amended financial covenants.  As of January 31, 2014, there was a $23,653,281 outstanding balance and $6,346,719 of unused availability under the credit facility agreement.

Tijuana_MX_Operation_Move

Tijuana, MX Operation Move	9 Months Ended
	Jan. 31, 2014
Tijuana, MX Operation Move [Abstract]	'
Tijuana, MX Operation Move	'
	Note E - Tijuana, MX Operation Move
	During the first quarter of fiscal year 2013, the Company relocated its Tijuana, MX operation to a new facility within Tijuana, MX.  The Company incurred a total of approximately $424,000 in relocation expenses during the first quarter of fiscal 2013 as a result of the move.  Approximately $399,000 of the relocation expenses were included in cost of products sold and consist primarily of moving expenses related to equipment, the write-off of leasehold improvements and the restoration of the prior Tijuana facility.  Of the total relocation expenses, approximately $25,000 was recorded in selling and administrative expenses.

Acquisition

Acquisition	9 Months Ended
	Jan. 31, 2014
Acquisition [Abstract]	'
Acquisition	'
	Note F - Acquisition
	Spitfire Control, Inc.
	The Purchase Agreement
	SigmaTron signed a Purchase Agreement on May 31, 2012 with Spitfire Control, Inc., an Illinois corporation (“Seller”), regarding the acquisition of certain assets of the Seller by the Company (the “Transaction”).  Prior to the date of the Purchase Agreement, the Seller and its affiliates were customers and strategic partners of the Company, with such relationships dating back to 1994.
	Seller, on its own and through its subsidiaries Digital Appliance Controls de Mexico, S.A. de C.V., a Mexico corporation (“DAC”), and Spitfire Controls (Cayman) Co. Ltd., a Cayman Islands exempted company (“Cayman”), their subsidiaries and Seller’s affiliated entities, was engaged in the business of the design, manufacture, sale and distribution of electrical or electronic controls for appliances (the “Business”).
	The acquired assets consisted of (i) all of the equity securities of DAC and Cayman and (ii) all of the assets used by or useful in the conduct of the Business.  In addition, the Company also obtained from the Seller and the sole owner of Seller an agreement not to compete against the Business as it is operated by the Company after the closing of the Transaction.
	In consideration, the Company agreed to pay a purchase price consisting of: (i) the satisfaction and release of the account payable of $16,455,000 owed by Seller to the Company; (ii) future payments, which are based upon the annual post-closing performance of the Business during each of the Company’s fiscal years 2013 through 2019; and (iii) the issuance of 50,000 shares of restricted common stock of SigmaTron, 12,500 of which vested upon the closing of the Transaction and 12,500 of which will vest on each of the first, second and third anniversaries of the closing of the Transaction.
	In addition to the foregoing, the Company agreed to assume (i) the Seller’s obligations under certain specified contracts and Governmental Authorizations (as defined in the Purchase Agreement), (ii) specified trade accounts payable and accrued expenses of the Seller as agreed upon by the parties and (iii) specified inter-company payables involving the Seller, DAC, Cayman and/or their subsidiaries and associated companies.  Further, each of DAC and Cayman retained the liabilities associated with its respective operations, which is customary in transactions involving the purchase or sale of all of the equity securities of an entity.  As a result, the Company indirectly acquired such liabilities through the Transaction.
	Note F - Acquisition - Continued
	Spitfire Control, Inc.
	The Credit Amendment
	Concurrent with the Transaction, the Company entered into amendments of its credit facility with Wells Fargo (“the Credit Amendment”).  The Credit Amendment modified certain financial covenant thresholds applicable to the Company, added property acquired in the Transaction as collateral for the loan to the Company, permitted the Company to acquire certain inter-company payables involving the Seller, DAC, Cayman or the subsidiaries and associated companies and permitted the Company to discharge and release the account payable owed by the Seller to the Company in partial consideration for the Transaction.
	Reasons for the Transaction
	The Company believes its acquisition of the Business allows a comprehensive approach to solving major appliance producers’ issues with integrating electronics into their platforms.  The acquisition also added two manufacturing operations in locations that the Company believes augmented the Company’s international footprint.  In addition, the acquisition of the Business allows the Company to offer design services for the first time in specific markets.  In conjunction with the acquisition, professional fees incurred during fiscal 2013 and 2012, were $803,006 and $530,565, respectively.  The professional fees were recorded as selling and administrative expenses.
	Accounting
	The acquisition was recorded using the purchase method of accounting, and on the date of the acquisition, the Company assessed the fair value of the acquired assets and assumed liabilities (primarily using level 3 measurement inputs) and an allocated purchase price of $18,944,307.  The allocation of the purchase considerations was based upon estimates made by the Company with the assistance of independent valuation specialists.  The revised purchase price allocation as of May 31, 2012, was as follows:
		Estimated Fair Value
	Cash	$	1,142,597
	Current assets		10,074,168
	Property, machinery and equipment		1,400,250
	Current liabilities		-3,037,607
	Customer relationships		4,690,000
	Backlog		22,000
	Trade names		980,000
	Non-compete agreements		50,000
	Patents		400,000
	Goodwill		3,222,899
	Total Net Assets	$	18,944,307
	Note F - Acquisition - Continued
	Spitfire Control, Inc.
	Accounting - Continued
	The amounts allocated to customer relationships, backlog, trade names, non-compete agreements and patents are estimated by the Company based on the analysis performed by independent valuation specialists, primarily through the use of discounted cash flow techniques.  Appraisal assumptions utilized under these methods include a forecast of estimated future net cash flows, as well as discounting the future net cash flows to their present value.  Acquired intangible assets are being amortized over the estimated useful lives as set forth in the following table:
		Method		Life
	Customer relationships	Accelerated		15	Years
	Backlog	Straight-line		1	Year
	Trade names	Straight-line		20	Years
	Non-compete agreements	Straight-line		7	Years
	Patents	Straight-line		5	Years
	Goodwill	N/A		Indefinite
	The estimated asset lives are determined based on projected future economic benefits and expected life cycles of the acquired intangible assets.  The amount assigned to goodwill is not being amortized, but will be tested for impairment annually or under circumstances that may indicate a potential impairment.  Goodwill is deductible for federal income tax purposes over a period of 15 years.
	The Company’s estimate of the fair value of the contingent consideration ($2,320,000 as of the acquisition date) was based on expected operating results of the Business through fiscal 2019 and the specific terms of when such consideration would be earned.  Those terms provide for additional consideration to be paid to Seller or its owner based on a percentage of sales and pre-tax profits over those years in excess of certain minimums.  The Company discounted expected payments by its weighted average cost of capital of 11.5%.  Payments are to be made quarterly each year and adjusted after each year end audit.  The Company made four quarterly payments of $65,000 each in fiscal 2013 and two quarterly payments of $65,000 each in fiscal 2014.  As of April 30, 2013, the Company had not changed its estimated aggregate consideration expected to be earned under this arrangement.  Any changes in the Company’s estimate will be reflected as a change in the contingent consideration liability and as an adjustment to selling and administrative expenses, as well as changes in the current fair value caused by the continual decrease in the discount period between the current balance sheet date and the estimated payout dates.  Such fair value changes were not material during fiscal 2013 or during the first nine months of fiscal 2014.  The value of the 50,000 shares of restricted stock issued as part of the purchase price was $169,011 based on the trading price of the Company’s common stock on the acquisition date discounted by 15% to account for the restrictions associated with that issuance.
	Note F - Acquisition - Continued
	Spitfire Control, Inc.
	Accounting - Continued
	Due to the acquisition of Spitfire, effective June 1, 2012, the Company discontinued selling to Spitfire and instead began selling directly to Spitfire’s former customers.
	Pro Forma Results
	While the results of Spitfire have been included in the condensed consolidated financial statements of the Company for the period subsequent to the acquisition, the following unaudited pro forma condensed combined results of operations for the nine month periods ended January 31, 2013 are based on the historical financial statements of the Company and Spitfire giving effect to the business combination as if it had occurred on May 1, 2012.  Therefore, this pro forma data includes adjustments to sales, amortization, depreciation, compensation expense and tax expense.  This data is not necessarily indicative of the results of operations that would have been generated if the transaction had occurred on May 1, 2012.  Moreover, this data is not intended to be indicative of future results of operations.
			Nine Months Ended
			January 31,
			2013
		Net sales	$	147,897,254
		Net income		337,566
		Income per share:
		Basic	$	0.08
		Diluted	$	0.08

Goodwill_And_Other_Intangible_

Goodwill And Other Intangible Assets	9 Months Ended
	Jan. 31, 2014
Goodwill And Other Intangible Assets [Abstract]	'
Goodwill And Other Intangible Assets	'
	Note G - Goodwill and Other Intangible Assets
	Goodwill
	The change in carrying amount of goodwill for the three months ended January 31, 2014, are as follows:
			Total
		Balance at April 30, 2013	$	3,222,899
		Changes in carrying amount		-
		Balance at January 31, 2014	$	3,222,899
	Other Intangible Assets
	Intangible assets subject to amortization are summarized as of January 31, 2014 as follows:
		Weighted Average
		Remaining		Gross
		Amortization		Carrying		Accumulated
		Period (Years)		Amount		Amortization
	Other intangible assets – Able	-		$	375,000	$	375,000
	Customer relationships – Able	-			2,395,000		2,395,000
	Spitfire:
	Non-contractual customer relationships	13.33			4,690,000		203,868
	Backlog	-			22,000		22,000
	Trade names	18.33			980,000		81,660
	Non-compete agreements	5.33			50,000		11,900
	Patents	3.33			400,000		133,340
	Total			$	8,912,000	$	3,222,768
	Intangible assets subject to amortization are summarized as of April 30, 2013 as follows:
		Weighted Average
		Remaining		Gross
		Amortization		Carrying		Accumulated
		Period (Years)		Amount		Amortization
	Other intangible assets – Able	-		$	375,000	$	375,000
	Customer relationships – Able	0.2			2,395,000		2,383,923
	Spitfire:
	Non-contractual customer relationships	14.1			4,690,000		58,685
	Backlog	0.1			22,000		20,163
	Trade names	19.1			980,000		44,913
	Non-compete agreements	6.1			50,000		6,545
	Patents	4.1			400,000		73,337
	Total			$	8,912,000	$	2,962,566
	Estimated aggregate amortization expense for our intangible assets, which become fully amortized in 2032, for the remaining periods is as follows:
	For the remaining 6 months of the fiscal year ending April 30:	2014		$	86,478
	For the fiscal year ending April 30:	2015			428,610
		2016			470,899
		2017			490,010
		2018			435,043
		2019			423,721
		Thereafter			3,354,471
				$	5,689,232

Mexican_Tax_Reform

Mexican Tax Reform	12 Months Ended
	Dec. 31, 2013
Mexican Tax Reform [Abstract]	'
Mexican Tax Reform	'
	Note H - Mexican Tax Reform
	In December 2013 the Mexican federal income tax law changes were enacted eliminating the statutory income tax rate reduction scheduled to start in 2014, and leaving the 30% statutory income tax rate in effect for future years.  In addition the Entrepreneurial Tax of Unique Rate (flat tax) was appealed as of January 31, 2014.  The Company has revalued its deferred income tax assets and liabilities as a result of the tax reform, which resulted in a net discrete tax benefit for the period of approximately $798,000.

Critical_Accounting_Policies

Critical Accounting Policies	9 Months Ended
	Jan. 31, 2014
Critical Accounting Policies [Abstract]	'
Critical Accounting Policies	'
	Note  I -  Critical Accounting Policies
	Management Estimates and Uncertainties - The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period.  Significant estimates made in preparing the consolidated financial statements include depreciation and amortization periods, the allowance for doubtful accounts, reserves for inventory and valuation of long-lived assets.  Actual results could materially differ from these estimates.
	Revenue Recognition - Revenues from sales of the Company’s electronic manufacturing services business are recognized when the finished good product is shipped to the customer.  In general, and except for consignment inventory, it is the Company’s policy to recognize revenue and related costs when the finished goods have been shipped from our facilities, which is also the same point that title passes under the terms of the purchase order.  Finished goods inventory for certain customers is shipped from the Company to an independent warehouse for storage or shipped directly to the customer and stored in a segregated part of the customer’s own facility.  Upon the customer’s request for finished goods inventory, the inventory is shipped to the customer if the inventory was stored off-site, or transferred from the segregated part of the customer’s facility for consumption or use by the customer.  The Company recognizes revenue upon such shipment or transfer.  The Company does not earn a fee for such arrangements.  The Company from time to time may ship finished goods from its facilities, which is also the same point that title passes under the terms of the purchase order, and invoice the customer at the end of the calendar month.  This is done only in special circumstances to accommodate a specific customer.  Further, from time to time customers request the Company hold finished goods after they have been invoiced to consolidate finished goods for shipping purposes.  The Company generally provides a 90 day warranty for workmanship only and does not have any installation, acceptance or sales incentives (although the Company has negotiated longer warranty terms in certain instances).  The Company assembles and tests assemblies based on customers’ specifications.  Historically, the amount of returns for workmanship issues has been de minimis under the Company’s standard or extended warranties.
	Note I - Critical Accounting Policies - Continued
	Inventories - Inventories are valued at the lower of cost or market.  Cost is determined by the first-in, first-out method.  In the event of an inventory write-down, the Company records expense to state the inventory at lower of cost or market.  The Company establishes inventory reserves for valuation, shrinkage, and excess and obsolete inventory.  The Company records provisions for inventory shrinkage based on historical experience to account for unmeasured usage or loss.  Actual results differing from these estimates could significantly affect the Company’s inventories and cost of products sold.  The Company records provisions for excess and obsolete inventories for the difference between the cost of inventory and its estimated realizable value based on assumptions about future product demand and market conditions.  Actual product demand or market conditions could be different than that projected by management.
	Goodwill - Goodwill represents the purchase price in excess of the fair value of assets acquired in business combinations.  The Company assesses goodwill for impairment at least annually in the absence of an indicator of possible impairment and immediately upon an indicator of possible impairment.  The Company is permitted the option to first assess qualitative factors to determine whether the existence of events and circumstances indicates that it is more likely than not that the fair value of any reporting unit is less than its corresponding carrying value.  If, after assessing the totality of events and circumstances, the Company concludes that it is not more likely than not that the fair value of any reporting unit is less than its corresponding carrying value then the Company is not required to take further action.  However, if the Company concludes otherwise, then it is required to perform a quantitative impairment test, including computing the fair value of the reporting unit and comparing that value to its carrying value.  If the fair value is less than its carrying value, a second step of the test is required to determine if recorded goodwill is impaired.  The Company also has the option to bypass the qualitative assessment for goodwill in any period and proceed directly to performing the quantitative impairment test.  The Company will be able to resume performing the qualitative assessment in any subsequent period.  The Company will perform its annual goodwill impairment test as of February 1, 2014 to determine if an impairment exist as of the date of the impairment test.
	Impairment of Long-Lived Assets  - The Company reviews long-lived assets, including amortizable intangible assets for impairment.  Property, machinery and equipment and finite life intangible assets are reviewed whenever events or changes in circumstances occur that indicate possible impairment.  If events or changes in circumstances occur that indicate possible impairment, the Company’s impairment review is based on an undiscounted cash flow analysis at the lowest level at which cash flows of the long-lived assets are largely independent of other groups of its assets and liabilities.  This analysis requires management judgment with respect to changes in technology, the continued success of product lines, and future volume, revenue and expense growth rates.  The Company conducts annual reviews for idle and underutilized equipment, and review business plans for possible impairment.  Impairment occurs when the carrying value of the assets exceeds the future undiscounted cash flows expected to be earned by the use of the asset group.  When impairment is indicated, the estimated future cash flows are then discounted to determine the estimated fair value of the asset or asset group and an impairment charge is recorded for the difference between the carrying value and the estimated fair value.
	Note I - Critical Accounting Policies - Continued
	Income Tax - Deferred income tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities, and are measured using the enacted tax rates and laws that are expected to be in effect  when the differences are expected to reverse.  Valuation allowances are established when necessary to reduce deferred income tax assets to an amount more likely than not to be realized.
	The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.  Adjustments to all deferred tax balances are reflected in continuing operations, including those that arise by charge or credit to other categories, when those adjustments reflect enacted changes in tax laws, tax rates, or tax status.
	A tax benefit from an uncertain tax position may only be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits.
	The Company adjusts its tax liabilities when its judgment changes as a result of the evaluation of new information not previously available.  Due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from its current estimate of the tax liabilities.  These differences will be reflected as increase or decreases to income tax expense in the period in which they are determined.
	New Accounting Standards:
	There are no recent accounting standards that had, or are expected to have, a significant effect on these consolidated financial statements.

Critical_Accounting_Policies_P

Critical Accounting Policies (Policies)	9 Months Ended
	Jan. 31, 2014
Critical Accounting Policies [Abstract]	'
Management Estimates And Uncertainties	'
	Management Estimates and Uncertainties - The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period.  Significant estimates made in preparing the consolidated financial statements include depreciation and amortization periods, the allowance for doubtful accounts, reserves for inventory and valuation of long-lived assets.  Actual results could materially differ from these estimates.
Revenue Recognition	'
	Revenue Recognition - Revenues from sales of the Company’s electronic manufacturing services business are recognized when the finished good product is shipped to the customer.  In general, and except for consignment inventory, it is the Company’s policy to recognize revenue and related costs when the finished goods have been shipped from our facilities, which is also the same point that title passes under the terms of the purchase order.  Finished goods inventory for certain customers is shipped from the Company to an independent warehouse for storage or shipped directly to the customer and stored in a segregated part of the customer’s own facility.  Upon the customer’s request for finished goods inventory, the inventory is shipped to the customer if the inventory was stored off-site, or transferred from the segregated part of the customer’s facility for consumption or use by the customer.  The Company recognizes revenue upon such shipment or transfer.  The Company does not earn a fee for such arrangements.  The Company from time to time may ship finished goods from its facilities, which is also the same point that title passes under the terms of the purchase order, and invoice the customer at the end of the calendar month.  This is done only in special circumstances to accommodate a specific customer.  Further, from time to time customers request the Company hold finished goods after they have been invoiced to consolidate finished goods for shipping purposes.  The Company generally provides a 90 day warranty for workmanship only and does not have any installation, acceptance or sales incentives (although the Company has negotiated longer warranty terms in certain instances).  The Company assembles and tests assemblies based on customers’ specifications.  Historically, the amount of returns for workmanship issues has been de minimis under the Company’s standard or extended warranties.
Inventories	'
	Inventories - Inventories are valued at the lower of cost or market.  Cost is determined by the first-in, first-out method.  In the event of an inventory write-down, the Company records expense to state the inventory at lower of cost or market.  The Company establishes inventory reserves for valuation, shrinkage, and excess and obsolete inventory.  The Company records provisions for inventory shrinkage based on historical experience to account for unmeasured usage or loss.  Actual results differing from these estimates could significantly affect the Company’s inventories and cost of products sold.  The Company records provisions for excess and obsolete inventories for the difference between the cost of inventory and its estimated realizable value based on assumptions about future product demand and market conditions.  Actual product demand or market conditions could be different than that projected by management.
Goodwill	'
	Goodwill - Goodwill represents the purchase price in excess of the fair value of assets acquired in business combinations.  The Company assesses goodwill for impairment at least annually in the absence of an indicator of possible impairment and immediately upon an indicator of possible impairment.  The Company is permitted the option to first assess qualitative factors to determine whether the existence of events and circumstances indicates that it is more likely than not that the fair value of any reporting unit is less than its corresponding carrying value.  If, after assessing the totality of events and circumstances, the Company concludes that it is not more likely than not that the fair value of any reporting unit is less than its corresponding carrying value then the Company is not required to take further action.  However, if the Company concludes otherwise, then it is required to perform a quantitative impairment test, including computing the fair value of the reporting unit and comparing that value to its carrying value.  If the fair value is less than its carrying value, a second step of the test is required to determine if recorded goodwill is impaired.  The Company also has the option to bypass the qualitative assessment for goodwill in any period and proceed directly to performing the quantitative impairment test.  The Company will be able to resume performing the qualitative assessment in any subsequent period.  The Company will perform its annual goodwill impairment test as of February 1, 2014 to determine if an impairment exist as of the date of the impairment test.
Impairment Of Long-Lived Assets	'
	Impairment of Long-Lived Assets  - The Company reviews long-lived assets, including amortizable intangible assets for impairment.  Property, machinery and equipment and finite life intangible assets are reviewed whenever events or changes in circumstances occur that indicate possible impairment.  If events or changes in circumstances occur that indicate possible impairment, the Company’s impairment review is based on an undiscounted cash flow analysis at the lowest level at which cash flows of the long-lived assets are largely independent of other groups of its assets and liabilities.  This analysis requires management judgment with respect to changes in technology, the continued success of product lines, and future volume, revenue and expense growth rates.  The Company conducts annual reviews for idle and underutilized equipment, and review business plans for possible impairment.  Impairment occurs when the carrying value of the assets exceeds the future undiscounted cash flows expected to be earned by the use of the asset group.  When impairment is indicated, the estimated future cash flows are then discounted to determine the estimated fair value of the asset or asset group and an impairment charge is recorded for the difference between the carrying value and the estimated fair value.
Income Tax	'
	Income Tax - Deferred income tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities, and are measured using the enacted tax rates and laws that are expected to be in effect  when the differences are expected to reverse.  Valuation allowances are established when necessary to reduce deferred income tax assets to an amount more likely than not to be realized.
	The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.  Adjustments to all deferred tax balances are reflected in continuing operations, including those that arise by charge or credit to other categories, when those adjustments reflect enacted changes in tax laws, tax rates, or tax status.
	A tax benefit from an uncertain tax position may only be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits.
	The Company adjusts its tax liabilities when its judgment changes as a result of the evaluation of new information not previously available.  Due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from its current estimate of the tax liabilities.  These differences will be reflected as increase or decreases to income tax expense in the period in which they are determined.
New Accounting Standards	'
	New Accounting Standards:
	There are no recent accounting standards that had, or are expected to have, a significant effect on these consolidated financial statements

Inventories_Net_Tables

Inventories, Net (Tables)	9 Months Ended
	Jan. 31, 2014
Inventories, Net [Abstract]	'
Components Of Inventory	'
		January 31,		April 30,
		2014		2013
	Finished products	$	17,130,040	$	13,167,117
	Work-in-process		2,999,909		2,959,144
	Raw materials		37,814,998		36,288,580
			57,944,947		52,414,841
	Less obsolescence reserve		1,752,469		1,770,100
		$	56,192,478	$	50,644,741

Earnings_Loss_Per_Share_Tables

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Jan. 31, 2014
Earnings (Loss) Per Share [Abstract]	'
Computation Of Basic And Diluted Earnings Per Share	'
		Three Months Ended				Nine Months Ended
		January 31,				January 31,
		2014		2013		2014		2013
	Net income (loss)	$	743,794	$	-216,776	$	2,495,912	$	172,914
	Weighted-average shares
	Basic		3,966,814		3,930,402		3,963,093		3,927,761
	Effect of dilutive stock options		121,881		-		92,805		67,917
	Diluted		4,088,695		3,930,402		4,055,898		3,995,678
	Basic earnings (loss) per share	$	0.19	$	-0.06	$	0.63	$	0.04
	Diluted earnings (loss) per share	$	0.18	$	-0.06	$	0.62	$	0.04

Acquisition_Tables

Acquisition (Tables)	9 Months Ended
	Jan. 31, 2014
Acquisition [Abstract]	'
Estimated Revised Purchase Price Allocation	'
		Estimated Fair Value
	Cash	$	1,142,597
	Current assets		10,074,168
	Property, machinery and equipment		1,400,250
	Current liabilities		-3,037,607
	Customer relationships		4,690,000
	Backlog		22,000
	Trade names		980,000
	Non-compete agreements		50,000
	Patents		400,000
	Goodwill		3,222,899
	Total Net Assets	$	18,944,307
Estimated Useful Lives of Acquired Intangible Assets	'
		Method		Life
	Customer relationships	Accelerated		15	Years
	Backlog	Straight-line		1	Year
	Trade names	Straight-line		20	Years
	Non-compete agreements	Straight-line		7	Years
	Patents	Straight-line		5	Years
	Goodwill	N/A		Indefinite
Pro Forma Results	'
			Nine Months Ended
			January 31,
			2013
		Net sales	$	147,897,254
		Net income		337,566
		Income per share:
		Basic	$	0.08
		Diluted	$	0.08

Goodwill_And_Other_Intangible_1

Goodwill And Other Intangible Assets (Tables)	9 Months Ended
	Jan. 31, 2014
Goodwill And Other Intangible Assets [Abstract]	'
Change In Carrying Amount Of Goodwill	'
			Total
		Balance at April 30, 2013	$	3,222,899
		Changes in carrying amount		-
		Balance at January 31, 2014	$	3,222,899
Summary Of Intangible Assets Subject To Amortization	'
	Intangible assets subject to amortization are summarized as of January 31, 2014 as follows:
		Weighted Average
		Remaining		Gross
		Amortization		Carrying		Accumulated
		Period (Years)		Amount		Amortization
	Other intangible assets – Able	-		$	375,000	$	375,000
	Customer relationships – Able	-			2,395,000		2,395,000
	Spitfire:
	Non-contractual customer relationships	13.33			4,690,000		203,868
	Backlog	-			22,000		22,000
	Trade names	18.33			980,000		81,660
	Non-compete agreements	5.33			50,000		11,900
	Patents	3.33			400,000		133,340
	Total			$	8,912,000	$	3,222,768
	Intangible assets subject to amortization are summarized as of April 30, 2013 as follows:
		Weighted Average
		Remaining		Gross
		Amortization		Carrying		Accumulated
		Period (Years)		Amount		Amortization
	Other intangible assets – Able	-		$	375,000	$	375,000
	Customer relationships – Able	0.2			2,395,000		2,383,923
	Spitfire:
	Non-contractual customer relationships	14.1			4,690,000		58,685
	Backlog	0.1			22,000		20,163
	Trade names	19.1			980,000		44,913
	Non-compete agreements	6.1			50,000		6,545
	Patents	4.1			400,000		73,337
	Total			$	8,912,000	$	2,962,566
Estimated Aggregate Amortization Expense	'
	For the remaining 6 months of the fiscal year ending April 30:	2014		$	86,478
	For the fiscal year ending April 30:	2015			428,610
		2016			470,899
		2017			490,010
		2018			435,043
		2019			423,721
		Thereafter			3,354,471
				$	5,689,232

Inventories_Net_Details

Inventories, Net (Details) (USD $)	Jan. 31, 2014	Apr. 30, 2013
Inventories, Net [Abstract]	'	'
Finished products	$17,130,040	$13,167,117
Work-in-process	2,999,909	2,959,144
Raw materials	37,814,998	36,288,580
Total inventory, gross	57,944,947	52,414,841
Less obsolescence reserve	1,752,469	1,770,100
Total inventory, net	$56,192,478	$50,644,741

Earnings_Loss_Per_Share_Narrat

Earnings (Loss) Per Share (Narrative) (Details) (USD $)

1 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

1 Months Ended

31-May-12

Jan. 31, 2014

Jan. 31, 2013

Jan. 31, 2014

Jan. 31, 2013

Jan. 31, 2014

Jun. 30, 2013

Jun. 30, 2012

Jan. 31, 2014

Jan. 31, 2013

Jan. 31, 2014

Jan. 31, 2013

Jan. 31, 2014

Oct. 31, 2013

Oct. 31, 2013

Jan. 31, 2014

Jan. 31, 2014

2013 Non-Employee Director Restricted Stock Plan

Restricted Stock [Member]

Restricted Stock [Member]

Restricted Stock [Member]

Restricted Stock [Member]

Restricted Stock [Member]

Restricted Stock [Member]

Restricted Stock [Member]

Restricted Stock [Member]

Restricted Stock [Member]

Minimum

Maximum

2013 Non-Employee Director Restricted Stock Plan

2013 Non-Employee Director Restricted Stock Plan

2013 Non-Employee Director Restricted Stock Plan

Director [Member]

Earnings Per Share [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock were outstanding

'

127,042

525,192

127,042

525,192

'

'

'

'

'

'

'

'

'

'

'

'

Options granted

'

0

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock option expense

'

$18,885

$32,160

$66,400

$157,000

'

'

'

'

'

'

'

'

'

'

'

'

Balance of unrecognized compensation expense related to stock options plans

'

76,700

103,000

76,700

103,000

'

'

'

'

'

'

'

'

7,500

'

'

'

Shares of restricted stock granted

'

'

'

'

'

'

'

25,000

'

'

'

'

'

'

1,500

'

'

Shares of restricted stock vested

'

'

'

'

'

'

8,333

8,333

'

'

'

'

'

'

'

'

'

Restricted stock expense

'

'

'

32,016

60,625

'

'

'

3,400

12,000

10,900

61,000

20,000

'

'

'

'

Issuance of restricted common stock

50,000

'

'

'

'

'

'

'

0

0

'

'

'

'

'

'

'

Restricted stock, vesting period

'

'

'

'

'

'6 months

'

'

'

'

'

'

'

'

'

'

'

Balance of unrecognized compensation expense related to restricted stock award

'

'

'

'

'

'

'

'

5,100

28,000

5,100

28,000

12,900

'

'

'

'

Number of options eligible to purchase under the plan

'

395,190

'

395,190

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash amount offered per Eligible Option

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$0.18

$1.35

Total price of options eligible to purchase under the plan

'

'

'

301,500

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of Eligible Option tendered

'

394,200

'

394,200

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash amount paid upon purchase of Eligible Option

'

'

'

$300,410

'

'

'

'

'

'

'

'

'

'

'

'

'

Earnings_Loss_Per_Share_Comput

Earnings (Loss) Per Share (Computation Of Basic And Diluted Earnings Per Share) (Details) (USD $)	3 Months Ended		9 Months Ended
	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2014	Jan. 31, 2013
Earnings (Loss) Per Share [Abstract]	'	'	'	'
Net income (loss)	$743,794	($216,776)	$2,495,912	$172,914
Weighted-average shares Basic	3,966,814	3,930,402	3,963,093	3,927,761
Effect of dilutive stock options	121,881	'	92,805	67,917
Diluted	4,088,695	3,930,402	4,055,898	3,995,678
Basic earnings (loss) per share	$0.19	($0.06)	$0.63	$0.04
Diluted earnings (loss) per share	$0.18	($0.06)	$0.62	$0.04

LongTerm_Debt_Details

Long-Term Debt (Details) (USD $)	9 Months Ended
	Jan. 31, 2014
Debt Instrument [Line Items]	'
Equity ownership in foreign entities pledged as collateral, percentage	65.00%
Outstanding balance under the credit facility	23,653,281
Unused availability under the credit facility	6,346,719
London Interbank Offered Rate (LIBOR) [Member]	'
Debt Instrument [Line Items]	'
Additional interest rate	2.50%
Senior Secured Credit Facility [Member]	'
Debt Instrument [Line Items]	'
Renegotiated extended credit facility	31-Oct-15
Effective interest rate maximum	3.25%
Effective interest rate minimum	2.75%
Wells Fargo Bank [Member] | Senior Secured Credit Facility [Member]	'
Debt Instrument [Line Items]	'
Senior secured credit facility credit limit	30,000,000
Initial expiration date	30-Sep-13

Tijuana_MX_Operation_Move_Deta

Tijuana, MX Operation Move (Details) (USD $)	3 Months Ended
	Jul. 31, 2012
Restructuring Cost and Reserve [Line Items]	'
Total relocation expenses	$424,000
Cost of Products Sold	'
Restructuring Cost and Reserve [Line Items]	'
Total relocation expenses	399,000
Selling And Administrative Expense	'
Restructuring Cost and Reserve [Line Items]	'
Total relocation expenses	$25,000

Acquisition_Narrative_Details

Acquisition (Narrative) (Details) (USD $)	1 Months Ended	12 Months Ended
	31-May-12	Apr. 30, 2013	Apr. 30, 2012	Jul. 31, 2013
Acquisition [Abstract]	'	'	'	'
Accounts payable released as part of acquisition	$16,455,000	'	'	'
Issuance of restricted common stock as part of acquisition	50,000	'	'	'
Number of restricted common stock vesting upon the closing of the transaction	12,500	'	'	'
Number of restricted common stock which will vest on first anniversary	12,500	'	'	'
Number of restricted common stock which will vest on second anniversary	12,500	'	'	'
Number of restricted common stock which will vest on third anniversary	12,500	'	'	'
Professional fees in conjunction with the Spitfire acquisition	'	803,006	530,565	'
Total consideration in conjunction with the Spitfire acquisition	18,944,307	'	'	'
Estimated fair value of contingent consideration	'	2,320,000	'	'
Weighted average cost of capital for discounting expected payments	'	11.50%	'	'
Quarterly payment for business acquisition	'	65,000	'	65,000
Value of Stock issued as part of purchase price	$169,011	'	'	'
Discount rate of trading price	'	15.00%	'	'

Acquisition_Estimated_Revised_

Acquisition (Estimated Revised Purchase Price Allocation) (Details) (USD $)	Jan. 31, 2014	Apr. 30, 2013	31-May-12	31-May-12	31-May-12	31-May-12	31-May-12	31-May-12
			Spitfire [Member]	Spitfire [Member]	Spitfire [Member]	Spitfire [Member]	Spitfire [Member]	Spitfire [Member]
				Customer Relationships [Member]	Backlog [Member]	Trade Names [Member]	Non-Compete Agreements [Member]	Patents [Member]
Business Acquisition [Line Items]	'	'	'	'	'	'	'	'
Cash	'	'	$1,142,597	'	'	'	'	'
Current assets	'	'	10,074,168	'	'	'	'	'
Property, machinery and equipment	'	'	1,400,250	'	'	'	'	'
Current liabilities	'	'	-3,037,607	'	'	'	'	'
Intangible assets	'	'	'	4,690,000	22,000	980,000	50,000	400,000
Goodwill	3,222,899	3,222,899	3,222,899	'	'	'	'	'
Total Net Assets	'	'	$18,944,307	'	'	'	'	'

Acquisition_Estimated_Useful_L

Acquisition (Estimated Useful Lives Of Acquired Intangible Assets) (Details)	9 Months Ended
	Jan. 31, 2014
Finite-Lived Intangible Assets [Line Items]	'
Goodwill, useful life	'Indefinite
Customer Relationships [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Finite-lived intangible assets, amortization method	'Accelerated
Finite-lived intangible asset, useful life	'15 years
Backlog [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Finite-lived intangible assets, amortization method	'Straight-line
Finite-lived intangible asset, useful life	'1 year
Trade Names [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Finite-lived intangible assets, amortization method	'Straight-line
Finite-lived intangible asset, useful life	'20 years
Non-Compete Agreements [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Finite-lived intangible assets, amortization method	'Straight-line
Finite-lived intangible asset, useful life	'7 years
Patents [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Finite-lived intangible assets, amortization method	'Straight-line
Finite-lived intangible asset, useful life	'5 years

Acquisition_Pro_Forma_Results_

Acquisition (Pro Forma Results) (Details) (USD $)	9 Months Ended
	Jan. 31, 2014
Acquisition [Abstract]	'
Net sales	$147,897,254
Net income	$337,566
Basic	$0.08
Diluted	$0.08

Goodwill_And_Other_Intangible_2

Goodwill And Other Intangible Assets (Change In Carrying Amount Of Goodwill) (Details) (USD $)	9 Months Ended
	Jan. 31, 2014
Goodwill And Other Intangible Assets [Abstract]	'
Balance at April 30, 2013	$3,222,899
Changes in carrying amount	'
Balance at January 31, 2014	$3,222,899

Goodwill_And_Other_Intangible_3

Goodwill And Other Intangible Assets (Summary Of Intangible Assets Subject To Amortization) (Details) (USD $)	9 Months Ended	12 Months Ended
	Jan. 31, 2014	Apr. 30, 2013
Finite-Lived Intangible Assets [Line Items]	'	'
Gross Carrying Amount	$8,912,000	$8,912,000
Accumulated Amortization	3,222,768	2,962,566
Able [Member] | Other Intangible Assets [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Gross Carrying Amount	375,000	375,000
Accumulated Amortization	375,000	375,000
Able [Member] | Customer Relationships [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Remaining Amortization Period (Years)	'	'2 months 12 days
Gross Carrying Amount	2,395,000	2,395,000
Accumulated Amortization	2,395,000	2,383,923
Spitfire [Member] | Non-Contractual Customer Relationships [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Remaining Amortization Period (Years)	'13 years 3 months 29 days	'14 years 1 month 6 days
Gross Carrying Amount	4,690,000	4,690,000
Accumulated Amortization	203,868	58,685
Spitfire [Member] | Backlog [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Remaining Amortization Period (Years)	'	'1 month 6 days
Gross Carrying Amount	22,000	22,000
Accumulated Amortization	22,000	20,163
Spitfire [Member] | Trade Names [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Remaining Amortization Period (Years)	'18 years 3 months 29 days	'19 years 1 month 6 days
Gross Carrying Amount	980,000	980,000
Accumulated Amortization	81,660	44,913
Spitfire [Member] | Non-Compete Agreements [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Remaining Amortization Period (Years)	'5 years 3 months 29 days	'6 years 1 month 6 days
Gross Carrying Amount	50,000	50,000
Accumulated Amortization	11,900	6,545
Spitfire [Member] | Patents [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Remaining Amortization Period (Years)	'3 years 3 months 29 days	'4 years 1 month 6 days
Gross Carrying Amount	400,000	400,000
Accumulated Amortization	$133,340	$73,337

Goodwill_And_Other_Intangible_4

Goodwill And Other Intangible Assets (Estimated Aggregate Amortization Expense) (Details) (USD $)	Jan. 31, 2014	Apr. 30, 2013
Goodwill And Other Intangible Assets [Abstract]	'	'
For the remaining 6 months of the fiscal year ending April 30: 2014	$86,478	'
For the fiscal year ended April 30, 2015	428,610	'
For the fiscal year ended April 30, 2016	470,899	'
For the fiscal year ended April 30, 2017	490,010	'
For the fiscal year ended April 30, 2018	435,043	'
For the fiscal year ended April 30, 2019	423,721	'
Thereafter	3,354,471	'
Total	$5,689,232	$5,949,434

Mexican_Tax_Reform_Details

Mexican Tax Reform (Details) (USD $)	9 Months Ended
	Jan. 31, 2014
Mexican Tax Reform [Abstract]	'
Foreign statutory income tax rate	30.00%
Foreign tax benefit	$798,000

Critical_Accounting_Policies_D

Critical Accounting Policies (Details)	9 Months Ended
	Jan. 31, 2014
Critical Accounting Policies [Abstract]	'
Product warranty period	'90 days