SigmaTron International (SGMA) 10-Q 12 Dec 18 2019 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Oct. 31, 2018	Dec. 11, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 31, 2018
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q2
Trading Symbol	sgma
Entity Registrant Name	SIGMATRON INTERNATIONAL INC
Entity Central Index Key	915,358
Current Fiscal Year End Date	--04-30
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		4,230,008

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Oct. 31, 2018	Apr. 30, 2018
Current assets:
Cash and cash equivalents	$ 1,729,119	$ 1,721,599
Accounts receivable, less allowance for doubtful accounts of $300,000 at October 31, 2018 and April 30, 2018, respectively	33,948,731	26,638,367
Inventories, net	89,402,592	86,929,793
Prepaid expenses and other assets	1,723,085	1,948,748
Refundable and prepaid income taxes	1,599,382	1,655,409
Other receivables	1,626,866	1,135,810
Total current assets	130,029,775	120,029,726
Property, machinery and equipment, net	34,407,753	35,288,997
Intangible assets, net of accumulated amortization of $5,031,560 and $4,843,915 at October 31, 2018 and April 30, 2018, respectively	2,900,440	3,088,085
Deferred income taxes	512,547	1,109,681
Other assets	1,679,460	1,713,481
Total other long-term assets	5,092,447	5,911,247
Total assets	169,529,975	161,229,970
Current liabilities:
Trade accounts payable	52,661,282	49,326,402
Accrued wages	5,212,451	3,730,755
Accrued expenses	2,075,681	2,930,792
Current portion of long-term debt	1,237,317	655,190
Current portion of capital lease obligations	2,156,601	2,320,538
Current portion of contingent consideration	193,006	213,460
Current portion of deferred rent	140,961	201,349
Total current liabilities	63,677,299	59,378,486
Long-term debt, less current portion	42,970,599	36,783,879
Income taxes payable	516,115	498,000
Capital lease obligations, less current portion	3,323,881	4,297,846
Deferred rent, less current portion	255,155	331,251
Other long-term liabilities	1,111,223	1,130,557
Total long-term liabilities	48,176,973	43,041,533
Total liabilities	111,854,272	102,420,019
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, 4,230,008 and 4,215,258 shares issued and outstanding at October 31, 2018 and April 30, 2018, respectively	42,042	41,896
Capital in excess of par value	23,248,171	23,132,017
Retained earnings	34,385,490	35,636,038
Total stockholders' equity	57,675,703	58,809,951
Total liabilities and stockholders' equity	$ 169,529,975	$ 161,229,970

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Oct. 31, 2018	Apr. 30, 2018
Condensed Consolidated Balance Sheets [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 300,000	$ 300,000
Intangible assets, amortization	$ 5,031,560	$ 4,843,915
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	4,230,008	4,215,258
Common stock, shares outstanding	4,230,008	4,215,258

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Condensed Consolidated Statements Of Operations [Abstract]
Net sales	$ 77,001,091	$ 72,959,074	$ 148,415,148	$ 144,183,367
Cost of products sold	70,307,006	65,855,506	135,932,007	130,322,745
Gross profit	6,694,085	7,103,568	12,483,141	13,860,622
Selling and administrative expenses	5,817,155	5,642,273	11,751,271	11,554,419
Operating income	876,930	1,461,295	731,870	2,306,203
Other income	(127,979)	(35,815)	(102,916)	(80,166)
Interest expense	602,858	345,656	1,156,348	654,070
Income (loss) before income tax expense	402,051	1,151,454	(321,562)	1,732,299
Income tax expense	1,125,992	415,339	928,986	613,302
Net (loss) income	$ (723,941)	$ 736,115	$ (1,250,548)	$ 1,118,997
(Loss) earnings per share - basic	$ (0.17)	$ 0.18	$ (0.30)	$ 0.27
(Loss) earnings per share - diluted	$ (0.17)	$ 0.17	$ (0.30)	$ 0.26
Weighted average shares of common stock outstanding - Basic	4,230,008	4,201,442	4,226,833	4,198,714
Weighted average shares of common stock outstanding - Diluted	4,230,008	4,326,854	4,226,833	4,302,977

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Cash Flows - USD ($)	6 Months Ended
	Oct. 31, 2018	Oct. 31, 2017
Cash flows from operating activities
Net (loss) income	$ (1,250,548)	$ 1,118,997
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization	2,515,042	2,560,202
Stock-based compensation		83,659
Restricted stock expense	116,300
Deferred income tax expense (benefit)	597,134	(331,312)
Amortization of intangible assets	187,645	220,075
Amortization of financing fees	42,604	23,757
Fair value adjustment of contingent consideration	34,621	32,201
Loss from disposal or sale of machinery and equipment	2,845	191
Changes in assets and liabilities
Accounts receivable	(7,310,364)	42,462
Inventories	(2,472,799)	(7,384,393)
Prepaid expenses and other assets	(201,372)	1,394,842
Refundable and prepaid income taxes	56,027	(219,550)
Income taxes payable	18,115	183,537
Trade accounts payable	3,334,880	609,465
Deferred rent	(136,484)	(117,920)
Accrued expenses and wages	577,251	(1,089,676)
Net cash used in operating activities	(3,889,103)	(2,873,463)
Cash flows from investing activities
Purchases of machinery and equipment	(1,528,211)	(3,232,111)
Proceeds from insurance settlement		63,402
Net cash used in investing activities	(1,528,211)	(3,168,709)
Cash flows from financing activities
Advances on notes receivable		(315,000)
Proceeds from the exercise of common stock options		42,940
Proceeds under equipment notes	182,557	943,136
Payments of contingent consideration	(55,075)	(112,151)
Payments under capital lease and sale leaseback agreements	(1,246,334)	(966,579)
Payments under equipment notes	(196,723)	(125,085)
Payments under building notes payable	(140,000)	(82,500)
Borrowings under lines of credit	10,690,386	9,298,262
Payments under lines of credit	(3,785,780)	(3,675,691)
Payments of financing fees	(24,197)	(14,632)
Net cash provided by financing activities	5,424,834	4,992,700
Change in cash and cash equivalents	7,520	(1,049,472)
Cash and cash equivalents at beginning of period	1,721,599	3,493,324
Cash and cash equivalents at end of period	1,729,119	2,443,852
Supplementary disclosures of cash flow information
Cash paid for interest	1,087,181	571,537
Cash paid for income taxes	274,476	987,734
Purchase of machinery and equipment financed under capital leases	131,232	2,085,149
Financing of insurance policy	$ 30,000	$ 49,500

Basis Of Presentation

Basis Of Presentation	6 Months Ended
	Oct. 31, 2018
Basis Of Presentation [Abstract]
Basis Of Presentation	Note A - Basis of Presentation  The accompanying unaudited condensed 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 condensed 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 six month periods ended October 31, 2018 is not necessarily indicative of the results that may be expected for the year ending April 30, 2019. The condensed consolidated balance sheet at April 30, 2018, was derived from audited annual financial statements but does not contain all of the footnotes disclosures from the annual financial statements. For further information, refer to the condensed consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended April 30, 2018.

Inventories, Net

Inventories, Net	6 Months Ended
	Oct. 31, 2018
Inventories, Net [Abstract]
Inventories, Net	Note B - Inventories, net  The components of inventory consist of the following:       October 31, April 30,  2018 2018   Finished products $ 22,525,471 $ 20,404,849  Work-in-process 2,471,685 2,075,465  Raw materials 65,604,445 65,652,411  90,601,601 88,132,725  Less excess and obsolescence reserve (1,199,009) (1,202,932)  $ 89,402,592 $ 86,929,793

Earnings Per Share And Stockhol

Earnings Per Share And Stockholders' Equity	6 Months Ended
	Oct. 31, 2018
Earnings Per Share And Stockholders' Equity [Abstract]
Earnings Per Share And Stockholders' Equity	Note C - Earnings Per Share and Stockholders’ Equity  The following table sets forth the computation of basic and diluted earnings per share:     Three Months Ended Six Months Ended  October 31, October 31,  2018 2017 2018 2017   Net (loss) income $ (723,941) $ 736,115 $ (1,250,548) $ 1,118,997  Weighted-average shares  Basic 4,230,008 4,201,442 4,226,833 4,198,714  Effect of dilutive stock options - 125,412 - 104,263   Diluted 4,230,008 4,326,854 4,226,833 4,302,977   Basic (loss) earnings per share $ (0.17) $ 0.18 $ (0.30) $ 0.27   Diluted (loss) earnings per share $ (0.17) $ 0.17 $ (0.30) $ 0.26  Options to purchase 347,318 and 359, 763 shares of common stock were outstanding at October 31, 2018 and 2017, respectively. There were no options granted during the six month periods ended October 31, 2018 and 2017. The Company recognized $ 0 in stock option expense for the three month periods ended October 31, 2018 and 2017. The Company recognized $0 and $83,659 in stock option expense for the six month periods ended October 31, 2018 and 2017, respectively. The balance of unrecognized compensation expense related to the Company’s stock option plans was $0 at October 31, 2018 and 2017. There were 24,459 and 0 anti-dilutive common stock equivalents outstanding during the three month periods ended October 31, 2018 and 2017, respectively. There were 29,080 and 0 anti- dilutive common stock equivalents outstanding during the six month periods ended October 31, 2018 and 2017, respectively.  On October 1, 2017, the Company issued 12,500 shares of restricted stock pursuant to the 2013 Non-Employee Director Restricted Stock Plan, which fully vested on April 1, 2018 . On October 1, 2018, the Company issued 12,500 shares of restricted stock pursuant to the 2018 Non-Employee Director Restricted Stock Plan, which will fully vest on April 1, 2019 . The Company recognized $116,300 in compensation expense for the three and six month periods ended October 31, 2018. The balance of unrecognized compensation expense related to the Company’s restricted stock award was $56,700 at October 31, 2018.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Oct. 31, 2018
Long-Term Debt [Abstract]
Long-Term Debt	Note D - Long-term Debt  Notes Payable – Banks  On March 31, 2017, the Company entered into a $35,000,000 senior secured credit facility with U.S. Bank, which expires on March 31, 2022 . The credit facility is collateralized by substantially all of the Company’s domestically located assets. The facility allows the Company to choose among interest rates at which it may borrow funds: the bank fixed rate of five percent or LIBOR plus one and one half percent (effectively 3.91% at October 31, 2018). Interest is due monthly. Under the senior secured credit facility, the Company may borrow up to the lesser of (i) $35,000,000 or (ii) an amount equal to a percentage of the eligible receivable borrowing base plus a percentage of the eligible inventory borrowing base (the “Borrowing Base”).  On July 16, 2018, the Company and U.S. Bank entered into an amendment of the revolving credit facility. The amended revolving credit facility allows the Company to borrow up to the lesser of (i) $45,000,000 less reserves or (ii) 90% of the Company’s Borrowing Base, except that the 90% limitation will expire if the Company’s actual revolving loans for the first 90 days after the amendment’s effective date are less than 80% of the Company’s Borrowing Base and the Company maintains a Fixed Charge Coverage Ratio of 1.2 to 1.0 for four consecutive quarters. The amendment also imposes sublimits on categories of inventory equal to $17,500,000 on raw materials and $25,000,000 on finished goods. As of October 31, 2018, there was $35,638,621 outstanding and $4,861,379 of unused availability under the U.S. Bank facility compared to an outstanding balance of $29,279,631 and $5,720,369 of unused availability at April 30, 2018. At October 31, 2018, the Company was in compliance with its financial covenant and other restricted covenants under the credit facility. Deferred financing costs of $13,097 and $24,197 were capitalized during the three and six month periods ending October 31, 2018, respectively, which are amortized over the term of the agreement. As of October 31, 2018 and April 30, 2018, the unamortized amount offset against outstanding debt was $190,435 and $192,502 , respectively.  On February 12, 2018, the Company’s wholly-owned subsidiary, SigmaTron Electronic Technology Co., Ltd., entered into a credit facility with China Construction Bank. Under the agreement SigmaTron Electronic Technology Co., Ltd. can borrow up to 5,000,000 Renminbi and the facility is collateralized by Wujiang SigmaTron Electronics Co., Ltd.’s manufacturing building. Interest is payable monthly and the facility bears a fixed interest rate of 6.09% . The term of the facility extends to February 7, 2019 . The outstanding balance under the facility was $545,616 and $0 at October 31, 2018 and April 30, 2018, respectively, and is included within the current portion of long-term debt.  Notes Payable – Buildings  The Company entered into a mortgage agreement on December 21, 2017, in the amount of $5,200,000 , with U.S. Bank to refinance the property that serves as the Company’s corporate headquarters and its Illinois manufacturing facility. The note requires the Company to pay monthly principal payments in the amount of $17,333 , bears interest at a fixed rate of 4.0% per year and is payable over a fifty-one month period. Deferred financing costs of $74,066 were capitalized in fiscal year 2018 which are amortized over the term of the agreement. As of October 31, 2018 and April 30, 2018 the unamortized amount offset against outstanding debt was $58,398 and $66,945 , respectively. A final payment of approximately $4,347,778 is due on or before March 31, 2022 . The outstanding balance was $5,044,000 and $5,148,000 at October 31, 2018 and April 30, 2018, respectively. Note D - Long-term Debt - Continued  The Company entered into a mortgage agreement on December 21, 2017, in the amount of $1,800,000 , with U.S. Bank to refinance the property that serves as the Company’s engineering and design center in Elgin, Illinois. The note requires the Company to pay monthly principal payments in the amount of $6,000 , bears interest at a fixed rate of 4.0% per year and is payable over a fifty-one month period. Deferred financing costs of $65,381 were capitalized in the fiscal year 2018 which are amortized over the term of the agreement. As of October 31, 2018 and April 30, 2018 the unamortized amount offset against outstanding debt was $51,550 and $59,094 , respectively. A final payment of approximately $1,505,000 is due on or before March 31, 2022 . The outstanding balance was $1,746,000 and $1,782,000 at October 31, 2018 and April 30, 2018, respectively.  Notes Payable – Equipment  On November 1, 2016, the Company entered into a secured note agreement with Engencap Fin S.A. DE C.V. to finance the purchase of equipment in the amount of $596,987 . The term of the agreement extends to November 1, 2021 with average quarterly payments of $35,060 beginning on February 1, 2017 and a fixed interest rate of 6.65% . The balance outstanding under this note agreement was $388,041 and $447,741 at October 31, 2018 and April 30, 2018, respectively.  On February 1, 2017, the Company entered into a secured note agreement with Engencap Fin S.A. DE C.V. to finance the purchase of equipment in the amount of $335,825 . The term of the agreement extends to February 1, 2022 with average quarterly payments of $20,031 beginning on May 1, 2017 and a fixed interest rate of 7.35% . The balance outstanding under this note agreement was $235,078 and $268,660 at October 31, 2018 and April 30, 2018, respectively.  On June 1, 2017, the Company entered into a secured note agreement with Engencap Fin S.A. DE C.V. to finance the purchase of equipment in the amount of $636,100 . The term of the agreement extends to June 1, 2022 with average quarterly payments of $37,941 beginning on September 1, 2017 and a fixed interest rate of 7.35% . The balance outstanding under this note agreement was $477,075 and $540,685 at October 31, 2018 and April 30, 2018, respectively.  On October 1, 2017, the Company entered into a secured note agreement with Engencap Fin S.A. DE C.V. to finance the purchase of equipment in the amount of $307,036 . The term of the agreement extends to November 1, 2022 with average quarterly payments of $18,314 beginning on February 1, 2018 and a fixed interest rate of 7.35% . The balance outstanding under this note agreement was $260,980 and $291,684 at October 31, 2018 and April 30, 2018, respectively.  On May 1, 2018, the Company entered into a secured note agreement with Engencap Fin S.A. DE C.V. to finance the purchase of equipment in the amount of $182,557 . The term of the agreement extends to May 1, 2023 with average quarterly payments of $11,045 beginning on August 1, 2018 and a fixed interest rate of 8.00% . The balance outstanding under this note agreement was $173,430 at October 31, 2018. Note D - Long-term Debt - Continued  Capital Lease and Sales Leaseback Obligations  From October 2013 through June 2017, the Company entered into various capital lease and sales leaseback agreements with Associated Bank, National Association to purchase equipment totaling $6,893,596 . The terms of the lease agreements extend to September 2018 through May 2022 with monthly installment payments ranging from $1,455 to $40,173 and a fixed interest rate ranging from 3.75% to 4.90% . The balance outstanding under these capital lease agreements was $2,261,923 and $2,923,524 at October 31, 2018 and April 30, 2018, respectively. The net book value of the equipment under these leases was $4,516,059 and $4,799,827 at October 31, 2018 and April 30, 2018, respectively.  From April 2014 through July 2015, the Company entered into various capital lease agreements with CIT Finance LLC to purchase equipment totaling $2,512,051 . The terms of the lease agreements extend to March 2019 through July 2020 with monthly installment payments ranging from $1,931 to $12,764 and a fixed interest rate ranging from 5.65% through 6.50% . The balance outstanding under these capital lease agreements was $741,502 and $984,031 at October 31, 2018 and April 30, 2018, respectively. The net book value of the equipment under these leases was $1,632,019 and $1,736,688 at October 31, 2018 and April 30, 2018, respectively.  From September 2017 through October 2018, the Company entered into various capital lease and sales leaseback agreements with First American Equipment Finance to purchase equipment totaling $3,142,619 . The terms of the lease agreements extend to August 2021 through October 2022 with monthly installment payments ranging from $3,127 to $20,093 and a fixed interest rate ranging from 5.82% through 8.00% . The balance outstanding under these capital lease agreements was $2,477,057 and $2,688,029 at October 31, 2018 and April 30, 2018, respectively. The net book value of the equipment under these leases was $2,802,510 and $2,808,209 at October 31, 2018 and April 30, 2018, respectively.  The Company anticipates that its credit facilities, cash flow from operations and leasing resources are adequate to meet its working capital requirements and capital expenditures for fiscal year 2019. However, in the event the Company desires to expand its operations, its business grows more rapidly than expected, the current economic climate deteriorates, customers delay payments, or the Company desires to consummate an acquisition, additional financing resources may be necessary in the current or future fiscal years. There is no assurance that the Company will be able to obtain equity or debt financing at acceptable terms, or at all, in the future. There is no assurance that the Company will be able to retain or renew its credit agreements in the future, or that any retention or renewal will be on the same terms as currently exist.  

Income Tax

Income Tax	6 Months Ended
	Oct. 31, 2018
Income Tax [Abstract]
Income Tax	Note E - Income Tax  The income tax expense was $1,125,992 for the three month period ended October 31, 2018 compared to an income tax expense of $415,339 for the same period in the prior fiscal year. The Company’s effective tax rate was 280.06% and 36.07% for the quarters ended October 31, 2018 and 2017, respectively. The income tax expense was $928,986 for the six month period ended October 31, 2018 compared to an income tax expense of $613,302 for the same period in the prior fiscal year. The Company’s effective tax rate was (288.9)% and 35.4% for the six month period ended October 31, 2018 and 2017, respectively. The increase in income tax expense for both the three month and six month periods ended October 31, 2018 compared to the same period in the previous year as well as the respective changes in the effective tax rates for the same periods is the result of the valuation allowance of $678,529 established on certain foreign net operating loss carryforwards that more likely than not will not be realized based on projected income in those jurisdictions, the impact of foreign currency remeasurement and the impact of changes in the U.S. tax rates as a result of Tax Reform.  On December 22, 2017, the U.S. enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (Tax Act). The Tax Act makes broad and complex changes to the U.S. tax code, including, but not limited to reducing the U.S. federal corporate tax rate from 34% to 21% and imposing a mandatory one-time transition tax on earnings of certain foreign subsidiaries that were previously tax-deferred. Due to the Tax Act, the Company’s federal statutory income tax rate for the current fiscal year is approximately 21.0%.  Due to the enactment of the Tax Act, the SEC staff issued Staff Accounting Bulletin 118 (“SAB 118”), which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act.  Because of the timing of the enactment and the complexity involved in applying the provisions of the Tax Act, the Company has made reasonable estimates for certain effects of the Tax Act and recorded provisional amounts in its financial statements as of October 31, 2018. As the Company collects and prepares necessary calculations of cumulative earnings and profits, cumulative taxes and amounts held in cash or other specified assets, as well as interprets the Tax Act and any additional guidance issued by the U.S. Treasury Department, the IRS, and other standard-setting bodies, the Company may make Note E - Income Tax - Continued  adjustments to the provisional amounts. Those adjustments may materially impact its provision for income taxes and effective tax rate in the period in which the adjustments are made. The Company expects to complete its accounting for the tax effects of the Tax Act in fiscal year 2019. 

Commitments And Contingencies

Commitments And Contingencies	6 Months Ended
	Oct. 31, 2018
Commitments And Contingencies [Abstract]
Commitments And Contingencies	Note F - Commitments and Contingencies  From time to time the Company is involved in legal proceedings, claims or investigations that are incidental to the conduct of the Company’s business. In future periods, the Company could be subjected to cash cost or non-cash charges to earnings if any of these matters are resolved on unfavorable terms. However, although the ultimate outcome of any legal matter cannot be predicted with certainty, based on present information, including management’s assessment of the merits of any particular claim, the Company does not expect that these legal proceedings or claims will have any material adverse impact on its future consolidated financial position, results of operations or cash flows.  In conjunction with the May 2012 acquisition of Spitfire, an estimate of the fair value of the contingent consideration, $2,320,000 , was recorded based on expected operating results through fiscal 2019 and the specific terms of when such consideration would be earned. Those terms provide for additional consideration to be paid based on a percentage of sales and pre-tax profits over those years in excess of certain minimums. Payments are made quarterly each year and adjusted after each year-end audit. The Company increased the estimated remaining payments expected to be paid under the agreement, which resulted in an increase of $17,092 and $34,621 for the three and six month periods ended October 31, 2018, respectively. Any change in the Company’s estimate is reflected as a change in the contingent consideration liability and as additional charges or credits to selling and administrative expenses. The Company made payments in the amount of $0 and $66,276 for the three months ended October 31, 2018 and 2017, respectively. The Company made payments totaling $55,075 and $112,151 for the six months ended October 31, 2018 and 2017, respectively. As of October 31, 2018, the contingent consideration liability was $193,006 compared to $213,460 at April 30, 2018 . 

Critical Accounting Policies

Critical Accounting Policies	6 Months Ended
	Oct. 31, 2018
Critical Accounting Policies [Abstract]
Critical Accounting Policies	Note G - 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 (“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, lower of cost or market adjustment for inventory, contingent consideration, deferred taxes, uncertain tax positions, valuation allowance for deferred taxes and valuation of long-lived assets. Actual results could materially differ from these estimates.  Revenue Recognition – The Company recognizes revenue when control of the promised goods or services are transferred to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company’s primary performance obligation to its customers is the production of finished goods electronic assembly products pursuant to purchase orders. The Company has concluded that control of the products it sells and transfers to its customers and an enforceable right to receive payment is customarily established at the point in time when the finished goods are shipped to its customers, or in some cases delivery pursuant to the specified shipping terms of each customer arrangement. With respect to consignment arrangements, control transfers and revenue is recognized at the point in time when the goods are shipped to the customer from the consignment location or when delivered to the customer (pursuant to agreed upon shipping terms). In those limited instances where finished goods delivered to the customer location are stored in a segregated area which are not controlled by the customer (title transfer, etc.) until they are pulled from the segregated area and consumed by the Company’s customer, revenue is recognized upon consumption. For tooling services, the Company’s performance obligation is satisfied at the point in time when the customer takes possession of dies and/ or molds. For engineering, design, and testing services, the Company’s performance obligations are satisfied over time as the respective services are rendered as its customers simultaneously derive value from the Company’s performance. From the time that a customer purchase order is received and contract is established, the Company’s performance obligations are typically fulfilled within a few weeks. The Company does not have any performance obligations that require more than one year to fulfill.  Each customer purchase order sets forth the transaction price for the products and services purchased under that arrangement. The Company evaluates the credit worthiness of its customers and exercises judgment to recognize revenue based upon the amount the Company expects to be paid for each sales transaction it enters into with its customers. Some customer arrangements include variable consideration, such as volume rebates, some of which depend upon the Company’s customers meeting specified performance criteria, such as a purchasing level over a period of time. The Company exercises judgment to estimate the most likely amount of variable consideration at each reporting date.  The Company’s typical payment terms are 30 days and its sales arrangements do not contain any significant financing component for its customers. The Company’s customer arrangements do not generate contract assets or liabilities that are material to the consolidated financial statements.  The Company generally provides a warranty for workmanship, unless the assembly was designed by the Company, in which case it warrants assembly/design. The Company assembles and tests Note G - Critical Accounting Policies - Continued  assemblies based on customers’ specifications prior to shipment. Historically, the amount of returns for workmanship issues has been de minimis under the Company’s standard or extended warranties. The Company does not provide its customers the option to purchase additional warranties and, therefore, the Company’s warranties are not considered a separate service or performance obligation.  The Company utilized the practical expedient to treat shipping and handling activities after the customer obtains control as fulfillment activities. The Company records shipping and handling costs as selling and administrative expenses and costs are accrued when revenue is recognized. Customers are typically invoiced for shipping costs and such amounts are included in net sales.  The Company pays sales commissions to its sales representatives which may be considered as incremental costs to obtain a contract. However, since the recoverability period is less than one year, the Company utilized the practical expedient provided by the new revenue recognition accounting standard that allows an entity to expense the costs of obtaining a contract as incurred.  During the first six months of fiscal 2019, no revenues were recognized from performance obligations satisfied or partially satisfied in previous periods and no amounts were allocated to performance obligations that remain unsatisfied or partially unsatisfied at October 31, 2018. The Company is electing not to disclose the value of the remaining unsatisfied performance obligation with a duration of one year or less as permitted by the practical expedient in ASU 2014-09, Revenue from Contracts with Customers . The Company had no material remaining unsatisfied performance obligations as of October 31, 2018 with expected duration of greater than one year.  The following table presents the Company’s revenue disaggregated by the principal end-user markets it serves:    Three Months Ended October 31, Six Months Ended October 31,  Net trade sales by end-market 2018 2018  Industrial Electronics 41,583,723 79,718,825  Consumer Electronics 31,490,883 60,691,796  Medical / Life Sciences 3,926,485 8,004,527  Total Net Trade Sales 77,001,091 148,415,148   Inventories - Inventories are valued at cost. Cost is determined by an average cost method and the Company allocates labor and overhead to work-in-process and finished goods. In the event of an inventory write-down, the Company records expense to state the inventory at lower of cost or net realizable value. 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. 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. For convenience, the Company records these inventory reserves against the inventory cost through a contra asset rather than through a new cost basis. Upon a subsequent sale or disposal of the impaired inventory, the Note G - Critical Accounting Policies - Continued  corresponding reserve is relieved to ensure the cost basis of the inventory reflects any reductions. Actual results differing from these estimates could significantly affect the Company’s inventories and cost of products sold as the inventory is sold or otherwise relieved.  Income Tax - The Company’s income tax expense, deferred tax assets and liabilities and reserves for unrecognized tax benefits reflect management’s best assessment of estimated future taxes to be paid. The Company is subject to income taxes in both the U.S. and several foreign jurisdictions. Significant judgments and estimates by management are required in determining the consolidated income tax expense assessment.  Deferred income tax assets and liabilities are determined based on differences between financial reporting and tax basis 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. In evaluating the Company’s ability to recover its deferred tax assets within the jurisdiction from which they arise, the Company considers all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial operations. In projecting future taxable income, the Company begins with historical results and changes in accounting policies, and incorporates assumptions including the amount of future state, federal and foreign pre-tax operating income, the reversal of temporary differences, and the implementation of feasible and prudent tax planning strategies. These assumptions require significant judgment and estimates by management about the forecasts of future taxable income and are consistent with the plans and estimates the Company uses to manage the underlying businesses. In evaluating the objective evidence that historical results provide, the Company considers three years of cumulative operating income and/or loss. Valuation allowances are established when necessary to reduce deferred income tax assets to an amount more likely than not to be realized. The Company established a valuation allowance of $78,100 related to its foreign tax credit carry-forward at April 30, 2017. The Company did not change this previous valuation allowance. Additionally, the Company established a valuation allowance of $678,529 at October 31, 2018 related to certain foreign net operating losses that are not expected to be used.  New Accounting Standards:  In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, "Revenue from Contracts with Customers" (Topic 606) which supersedes the revenue recognition requirements in ASC 605, “ Revenue Recognition” . The guidance requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to a customer, and replaces most existing revenue recognition guidance in U.S. GAAP. The Company adopted the ASU on May 1, 2018 using the modified retrospective transition method. Under the modified retrospective transition method, the cumulative effect of applying ASC 606 to all contracts that are not completed as of the date of adoption is recorded as an adjustment to the opening balance of retained earnings (if applicable) while the comparative periods are not restated and continue to be reported under the accounting standards in effect for those periods. The Company has determined that revenue from contracts with customers under the new revenue recognition standard is the same as under prior accounting standards. Accordingly, the Company did not record an adjustment to the beginning balance of retained earnings as a result of adopting ASC 606.  Note G - Critical Accounting Policies - Continued  In February 2016, the FASB issued ASU No. 2016-02, “ Leases” . The new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for capital leases and operating leases existing at, or entered into as of the effective date of the standard, with certain practical expedients available. In order to evaluate the impact of ASU No. 2016-02, the Company has initiated the process of assessing critical components of this new guidance and the potential impact that the guidance will have on its financial position, results of operations and cash flows. This evaluation process includes a review of the Company's leasing contracts and an assessment of the completeness of the Company's lease population. The Company is also assessing the need for potential changes to its business processes, systems and controls to support the adoption of the new standard. Based upon the assessment to date, the Company believes that a key change upon adoption of the lease standard will be the recognition of leased assets and liabilities on its balance sheet but has not yet determined the impact on its results of operations or statement of cash flows.  In June 2016, the FASB issued ASU No. 2016-13, “ Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments .” ASU 2016-13 introduces a new forward-looking approach, based on expected losses, to estimate credit losses on certain types of financial instruments, including trade receivables. The estimate of expected credit losses will require entities to incorporate considerations of historical information, current information and reasonable and supportable forecasts. This ASU also expands the disclosure requirements to enable users of financial statements to understand the entity’s assumptions, models and methods for estimating expected credit losses. For public business entities, ASU 2016-13 is effective for annual and interim reporting periods beginning after December 15, 2019, and the guidance is to be applied using the modified-retrospective approach. Earlier adoption is permitted for annual and interim reporting periods beginning after December 15, 2018. The Company is currently evaluating the new guidance and has not determined the impact this ASU may have on its consolidated financial statements.  On May 1, 2018, the Company adopted the guidance contained in ASU 2016 -15, “ Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments” . The amendments in ASU 2016-15 are applied using a retrospective transition method to each period presented. The Company has evaluated each of the eight specific issues addressed by ASU 2016-15. During the year ended April 30, 2018 the Company received cash settlement of insurance claims related to equipment damaged by a fire and including replacement of inventory and clean-up costs at one of its subsidiaries. The estimated settlement was recorded in April 2017 when the settlement was deemed to be probable. Cash payments related to this settlement were received in September 2017, November 2017 and January 2018. The Company has classified these receipts as cash flows from operating activities in its annual and interim statements of cash flows for the year ended April 30, 2018. The Company reclassified $63,402 of cash receipts related to this insurance settlement from cash flows from operations to cash flows from investing activities in its statements of cash flows for the six month period ended October 31, 2017.  In January 2018, the FASB released guidance on the accounting for tax on the Global Intangible Low-Taxed Income (“GILTI”) provisions of the Tax Act. The GILTI provisions impose a tax on foreign Note G - Critical Accounting Policies - Continued  income in excess of a deemed return on tangible assets of foreign corporations. The Company elects to treat any potential GILTI inclusions as a period cost.  In February 2018, the FASB issued ASU No. 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” The guidance permits entities to reclassify tax effects stranded in Accumulated Other Comprehensive Income as a result of tax reform to retained earnings. This new guidance is effective for annual and interim periods in fiscal years beginning after December 15, 2018. Early adoption is permitted in annual and interim periods and can be applied retrospectively or in the period of adoption. The Company adopted this ASU in the first quarter of its current fiscal year and had no impact on its consolidated financial statements.

Related Parties

Related Parties	6 Months Ended
	Oct. 31, 2018
Related Parties [Abstract]
Related Parties	Note H - Related Parties  In March, 2015, two of the Company’s executive officers invested in a start-up customer, Petzila, Inc. (“Petzila”). The executive officers’ investments constituted less than 2% (individually and in aggregate) of the outstanding beneficial ownership of Petzila, according to information provided by Petzila to the executive officers.  On April 30, 2018 the Company foreclosed on its security interest that consisted of an outstanding note receivable of $2,117,500 and account receivable of $1,535,300 and held a public sale of the assets in accordance with the requirements of Article 9 of the California Uniform Commercial Code. The Company acquired all of the assets of Petzila as the winning bidder at the public sale by a credit bid of $3,500,000 , the aggregate amount of Petzila’s liability to the company.  Concurrent with the foreclosure sale, the Company entered into an Asset Purchase Agreement with Wagz, Inc. (Wagz) whereby the Company sold the assets to Wagz for $350,000 cash, 600,000 shares of Wagz common stock and an earn-out based on sales by Wagz generated from use of the assets through July 31, 2022 . The earn-out is $6.00 per unit of a product specified in the asset purchase agreement and any upgrade to such product.  Accordingly, the Company recognized the fair value of the assets received from Wagz and derecognized the receivables from Petzila. The fair value of the assets received from Wagz was approximately $950,000 ; therefore, the Company recognized a loss of approximately $2,509,423 in its consolidated statement of operations for the year ended April 30, 2018.  The fair value of the non-cash consideration consisted of $600,000 for the 600,000 shares of Wagz common stock which is recorded within other assets. The Company determined the fair value of the equity using the price per common share received by Wagz in a recent financing transaction, a level 3 input. The Company did not assign any value to the earn-out because any receipts from the earn-out are highly uncertain and contingent upon Wagz selling the product specified in the asset purchase agreement between the Company and Wagz. There was no change in the fair value of the common stock and $91,578 was recognized for the earn-out during the three and six month periods ended October 31, 2018.

Critical Accounting Policies (P

Critical Accounting Policies (Policy)	6 Months Ended
	Oct. 31, 2018
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 (“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, lower of cost or market adjustment for inventory, contingent consideration, deferred taxes, uncertain tax positions, valuation allowance for deferred taxes and valuation of long-lived assets. Actual results could materially differ from these estimates.
Revenue Recognition	Revenue Recognition – The Company recognizes revenue when control of the promised goods or services are transferred to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company’s primary performance obligation to its customers is the production of finished goods electronic assembly products pursuant to purchase orders. The Company has concluded that control of the products it sells and transfers to its customers and an enforceable right to receive payment is customarily established at the point in time when the finished goods are shipped to its customers, or in some cases delivery pursuant to the specified shipping terms of each customer arrangement. With respect to consignment arrangements, control transfers and revenue is recognized at the point in time when the goods are shipped to the customer from the consignment location or when delivered to the customer (pursuant to agreed upon shipping terms). In those limited instances where finished goods delivered to the customer location are stored in a segregated area which are not controlled by the customer (title transfer, etc.) until they are pulled from the segregated area and consumed by the Company’s customer, revenue is recognized upon consumption. For tooling services, the Company’s performance obligation is satisfied at the point in time when the customer takes possession of dies and/ or molds. For engineering, design, and testing services, the Company’s performance obligations are satisfied over time as the respective services are rendered as its customers simultaneously derive value from the Company’s performance. From the time that a customer purchase order is received and contract is established, the Company’s performance obligations are typically fulfilled within a few weeks. The Company does not have any performance obligations that require more than one year to fulfill.  Each customer purchase order sets forth the transaction price for the products and services purchased under that arrangement. The Company evaluates the credit worthiness of its customers and exercises judgment to recognize revenue based upon the amount the Company expects to be paid for each sales transaction it enters into with its customers. Some customer arrangements include variable consideration, such as volume rebates, some of which depend upon the Company’s customers meeting specified performance criteria, such as a purchasing level over a period of time. The Company exercises judgment to estimate the most likely amount of variable consideration at each reporting date.  The Company’s typical payment terms are 30 days and its sales arrangements do not contain any significant financing component for its customers. The Company’s customer arrangements do not generate contract assets or liabilities that are material to the consolidated financial statements.  The Company generally provides a warranty for workmanship, unless the assembly was designed by the Company, in which case it warrants assembly/design. The Company assembles and tests Note G - Critical Accounting Policies - Continued  assemblies based on customers’ specifications prior to shipment. Historically, the amount of returns for workmanship issues has been de minimis under the Company’s standard or extended warranties. The Company does not provide its customers the option to purchase additional warranties and, therefore, the Company’s warranties are not considered a separate service or performance obligation.  The Company utilized the practical expedient to treat shipping and handling activities after the customer obtains control as fulfillment activities. The Company records shipping and handling costs as selling and administrative expenses and costs are accrued when revenue is recognized. Customers are typically invoiced for shipping costs and such amounts are included in net sales.  The Company pays sales commissions to its sales representatives which may be considered as incremental costs to obtain a contract. However, since the recoverability period is less than one year, the Company utilized the practical expedient provided by the new revenue recognition accounting standard that allows an entity to expense the costs of obtaining a contract as incurred.  During the first six months of fiscal 2019, no revenues were recognized from performance obligations satisfied or partially satisfied in previous periods and no amounts were allocated to performance obligations that remain unsatisfied or partially unsatisfied at October 31, 2018. The Company is electing not to disclose the value of the remaining unsatisfied performance obligation with a duration of one year or less as permitted by the practical expedient in ASU 2014-09, Revenue from Contracts with Customers . The Company had no material remaining unsatisfied performance obligations as of October 31, 2018 with expected duration of greater than one year.  The following table presents the Company’s revenue disaggregated by the principal end-user markets it serves:    Three Months Ended October 31, Six Months Ended October 31,  Net trade sales by end-market 2018 2018  Industrial Electronics 41,583,723 79,718,825  Consumer Electronics 31,490,883 60,691,796  Medical / Life Sciences 3,926,485 8,004,527  Total Net Trade Sales 77,001,091 148,415,148  
Inventories	Inventories - Inventories are valued at cost. Cost is determined by an average cost method and the Company allocates labor and overhead to work-in-process and finished goods. In the event of an inventory write-down, the Company records expense to state the inventory at lower of cost or net realizable value. 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. 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. For convenience, the Company records these inventory reserves against the inventory cost through a contra asset rather than through a new cost basis. Upon a subsequent sale or disposal of the impaired inventory, the Note G - Critical Accounting Policies - Continued  corresponding reserve is relieved to ensure the cost basis of the inventory reflects any reductions. Actual results differing from these estimates could significantly affect the Company’s inventories and cost of products sold as the inventory is sold or otherwise relieved.
Income Tax	Income Tax - The Company’s income tax expense, deferred tax assets and liabilities and reserves for unrecognized tax benefits reflect management’s best assessment of estimated future taxes to be paid. The Company is subject to income taxes in both the U.S. and several foreign jurisdictions. Significant judgments and estimates by management are required in determining the consolidated income tax expense assessment.  Deferred income tax assets and liabilities are determined based on differences between financial reporting and tax basis 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. In evaluating the Company’s ability to recover its deferred tax assets within the jurisdiction from which they arise, the Company considers all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial operations. In projecting future taxable income, the Company begins with historical results and changes in accounting policies, and incorporates assumptions including the amount of future state, federal and foreign pre-tax operating income, the reversal of temporary differences, and the implementation of feasible and prudent tax planning strategies. These assumptions require significant judgment and estimates by management about the forecasts of future taxable income and are consistent with the plans and estimates the Company uses to manage the underlying businesses. In evaluating the objective evidence that historical results provide, the Company considers three years of cumulative operating income and/or loss. Valuation allowances are established when necessary to reduce deferred income tax assets to an amount more likely than not to be realized. The Company established a valuation allowance of $78,100 related to its foreign tax credit carry-forward at April 30, 2017. The Company did not change this previous valuation allowance. Additionally, the Company established a valuation allowance of $678,529 at October 31, 2018 related to certain foreign net operating losses that are not expected to be used.
New Accounting Standards	 New Accounting Standards:  In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, "Revenue from Contracts with Customers" (Topic 606) which supersedes the revenue recognition requirements in ASC 605, “ Revenue Recognition” . The guidance requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to a customer, and replaces most existing revenue recognition guidance in U.S. GAAP. The Company adopted the ASU on May 1, 2018 using the modified retrospective transition method. Under the modified retrospective transition method, the cumulative effect of applying ASC 606 to all contracts that are not completed as of the date of adoption is recorded as an adjustment to the opening balance of retained earnings (if applicable) while the comparative periods are not restated and continue to be reported under the accounting standards in effect for those periods. The Company has determined that revenue from contracts with customers under the new revenue recognition standard is the same as under prior accounting standards. Accordingly, the Company did not record an adjustment to the beginning balance of retained earnings as a result of adopting ASC 606.  Note G - Critical Accounting Policies - Continued  In February 2016, the FASB issued ASU No. 2016-02, “ Leases” . The new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for capital leases and operating leases existing at, or entered into as of the effective date of the standard, with certain practical expedients available. In order to evaluate the impact of ASU No. 2016-02, the Company has initiated the process of assessing critical components of this new guidance and the potential impact that the guidance will have on its financial position, results of operations and cash flows. This evaluation process includes a review of the Company's leasing contracts and an assessment of the completeness of the Company's lease population. The Company is also assessing the need for potential changes to its business processes, systems and controls to support the adoption of the new standard. Based upon the assessment to date, the Company believes that a key change upon adoption of the lease standard will be the recognition of leased assets and liabilities on its balance sheet but has not yet determined the impact on its results of operations or statement of cash flows.  In June 2016, the FASB issued ASU No. 2016-13, “ Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments .” ASU 2016-13 introduces a new forward-looking approach, based on expected losses, to estimate credit losses on certain types of financial instruments, including trade receivables. The estimate of expected credit losses will require entities to incorporate considerations of historical information, current information and reasonable and supportable forecasts. This ASU also expands the disclosure requirements to enable users of financial statements to understand the entity’s assumptions, models and methods for estimating expected credit losses. For public business entities, ASU 2016-13 is effective for annual and interim reporting periods beginning after December 15, 2019, and the guidance is to be applied using the modified-retrospective approach. Earlier adoption is permitted for annual and interim reporting periods beginning after December 15, 2018. The Company is currently evaluating the new guidance and has not determined the impact this ASU may have on its consolidated financial statements.  On May 1, 2018, the Company adopted the guidance contained in ASU 2016 -15, “ Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments” . The amendments in ASU 2016-15 are applied using a retrospective transition method to each period presented. The Company has evaluated each of the eight specific issues addressed by ASU 2016-15. During the year ended April 30, 2018 the Company received cash settlement of insurance claims related to equipment damaged by a fire and including replacement of inventory and clean-up costs at one of its subsidiaries. The estimated settlement was recorded in April 2017 when the settlement was deemed to be probable. Cash payments related to this settlement were received in September 2017, November 2017 and January 2018. The Company has classified these receipts as cash flows from operating activities in its annual and interim statements of cash flows for the year ended April 30, 2018. The Company reclassified $63,402 of cash receipts related to this insurance settlement from cash flows from operations to cash flows from investing activities in its statements of cash flows for the six month period ended October 31, 2017.  In January 2018, the FASB released guidance on the accounting for tax on the Global Intangible Low-Taxed Income (“GILTI”) provisions of the Tax Act. The GILTI provisions impose a tax on foreign Note G - Critical Accounting Policies - Continued  income in excess of a deemed return on tangible assets of foreign corporations. The Company elects to treat any potential GILTI inclusions as a period cost.  In February 2018, the FASB issued ASU No. 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” The guidance permits entities to reclassify tax effects stranded in Accumulated Other Comprehensive Income as a result of tax reform to retained earnings. This new guidance is effective for annual and interim periods in fiscal years beginning after December 15, 2018. Early adoption is permitted in annual and interim periods and can be applied retrospectively or in the period of adoption. The Company adopted this ASU in the first quarter of its current fiscal year and had no impact on its consolidated financial statements.

Inventories, Net (Tables)

Inventories, Net (Tables)	6 Months Ended
	Oct. 31, 2018
Inventories, Net [Abstract]
Components Of Inventory	   October 31, April 30,  2018 2018   Finished products $ 22,525,471 $ 20,404,849  Work-in-process 2,471,685 2,075,465  Raw materials 65,604,445 65,652,411  90,601,601 88,132,725  Less excess and obsolescence reserve (1,199,009) (1,202,932)  $ 89,402,592 $ 86,929,793 

Earnings Per Share And Stockh_2

Earnings Per Share And Stockholders' Equity (Tables)	6 Months Ended
	Oct. 31, 2018
Earnings Per Share And Stockholders' Equity [Abstract]
Computation Of Basic And Diluted Earnings Per Share	  Three Months Ended Six Months Ended  October 31, October 31,  2018 2017 2018 2017   Net (loss) income $ (723,941) $ 736,115 $ (1,250,548) $ 1,118,997  Weighted-average shares  Basic 4,230,008 4,201,442 4,226,833 4,198,714  Effect of dilutive stock options - 125,412 - 104,263   Diluted 4,230,008 4,326,854 4,226,833 4,302,977   Basic (loss) earnings per share $ (0.17) $ 0.18 $ (0.30) $ 0.27   Diluted (loss) earnings per share $ (0.17) $ 0.17 $ (0.30) $ 0.26 

Critical Accounting Policies (T

Critical Accounting Policies (Tables)	6 Months Ended
	Oct. 31, 2018
Critical Accounting Policies [Abstract]
Revenue Disaggregated By Principal End-User Markets	  Three Months Ended October 31, Six Months Ended October 31,  Net trade sales by end-market 2018 2018  Industrial Electronics 41,583,723 79,718,825  Consumer Electronics 31,490,883 60,691,796  Medical / Life Sciences 3,926,485 8,004,527  Total Net Trade Sales 77,001,091 148,415,148  

Inventories, Net (Components Of

Inventories, Net (Components Of Inventory) (Details) - USD ($)	Oct. 31, 2018	Apr. 30, 2018
Inventories, Net [Abstract]
Finished products	$ 22,525,471	$ 20,404,849
Work-in-process	2,471,685	2,075,465
Raw materials	65,604,445	65,652,411
Total inventory, gross	90,601,601	88,132,725
Less excess and obsolescence reserve	(1,199,009)	(1,202,932)
Total inventory, net	$ 89,402,592	$ 86,929,793

Earnings Per Share And Stockh_3

Earnings Per Share And Stockholders' Equity (Narrative) (Details) - USD ($)	Oct. 01, 2018	Oct. 01, 2017	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Earnings Per Share And Stockholders' Equity [Line Items]
Common stock shares were outstanding			347,318	359,763	347,318	359,763
Options granted					0	0
Stock option expense						$ 83,659
Balance of unrecognized compensation expense related to stock options plans			$ 0	$ 0	$ 0	$ 0
Restricted stock expense					$ 116,300
Anti-dilutive common stock outstanding excluded from the calculation of diluted earnings per share			24,459	0	29,080	0
2013 Non-Employee Director Restricted Stock Plan
Earnings Per Share And Stockholders' Equity [Line Items]
Shares of restricted stock granted	12,500
2018 Non-Employee Directors Restricted Stock Plan [Member]
Earnings Per Share And Stockholders' Equity [Line Items]
Restricted stock, fully vest date	Apr. 1, 2019
Restricted stock expense			$ 116,300		$ 116,300
Balance of unrecognized compensation expense related to restricted stock award			$ 56,700		$ 56,700
Restricted Stock | 2013 Non-Employee Director Restricted Stock Plan
Earnings Per Share And Stockholders' Equity [Line Items]
Shares of restricted stock granted		12,500
Restricted stock, fully vest date		Apr. 1, 2018

Earnings Per Share And Stockh_4

Earnings Per Share And Stockholders' Equity (Computation Of Basic And Diluted Earnings Per Share) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Earnings Per Share And Stockholders' Equity [Abstract]
Net (loss) income	$ (723,941)	$ 736,115	$ (1,250,548)	$ 1,118,997
Weighted-average shares, Basic	4,230,008	4,201,442	4,226,833	4,198,714
Weighted-average shares, Effect of dilutive stock options		125,412		104,263
Weighted-average shares, Diluted	4,230,008	4,326,854	4,226,833	4,302,977
Basic (loss) earnings per share	$ (0.17)	$ 0.18	$ (0.30)	$ 0.27
Diluted (loss) earnings per share	$ (0.17)	$ 0.17	$ (0.30)	$ 0.26

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details)

Jul. 16, 2018USD ($)item

May 01, 2018USD ($)

Feb. 12, 2018CNY (¥)

Dec. 21, 2017USD ($)

Oct. 01, 2017USD ($)

Jun. 01, 2017USD ($)

Feb. 01, 2017USD ($)

Nov. 01, 2016USD ($)

Mar. 31, 2017USD ($)

Oct. 31, 2018USD ($)

Apr. 30, 2018USD ($)

Jul. 31, 2015USD ($)

Jun. 30, 2017USD ($)

Associated Bank, National Association [Member] | Capital Lease And Sale Leaseback Agreements [Member] | Equipment [Member]

Debt Instrument [Line Items]

Total equipment purchased under the capital lease

$ 6,893,596

Outstanding amount under capital lease

$ 2,261,923

$ 2,923,524

Net book value of capital leased assets

4,516,059

4,799,827

CIT Finance LLC [Member] | Capital Lease | Equipment [Member]

Debt Instrument [Line Items]

Total equipment purchased under the capital lease

$ 2,512,051

Outstanding amount under capital lease

741,502

984,031

Net book value of capital leased assets

1,632,019

1,736,688

First American Equipment Finance [Member] | Capital Sales Leaseback Agreement [Member] | Equipment [Member]

Debt Instrument [Line Items]

Total equipment purchased under the capital lease

3,142,619

Outstanding amount under capital lease

2,477,057

2,688,029

Net book value of capital leased assets

2,802,510

2,808,209

U.S. Bank [Member] | Notes Payable - Banks [Member] | Corporate Headquarters And Manufacturing Facility [Member]

Debt Instrument [Line Items]

Mortgage agreement, outstanding amount

5,044,000

5,148,000

U.S. Bank [Member] | Notes Payable - Buildings [Member] | Corporate Headquarters And Manufacturing Facility [Member]

Debt Instrument [Line Items]

Deferred financing costs

74,066

Unamortized amount offset against outstanding debt

58,398

66,945

Mortgage agreement, amount

$ 5,200,000

Mortgage agreement, interest rate

4.00%

Mortgage agreement, final payment

$ 4,347,778

Mortgage agreement, maturity date

Mar. 31, 2022

Mortgage agreement, monthly principal payment

$ 17,333

Mortgage agreement, payable period

51 months

U.S. Bank [Member] | Notes Payable - Buildings [Member] | Engineering And Design Center [Member]

Debt Instrument [Line Items]

Deferred financing costs

65,381

Unamortized amount offset against outstanding debt

$ 51,550

59,094

Mortgage agreement, amount

$ 1,800,000

Mortgage agreement, interest rate

4.00%

Mortgage agreement, final payment

1,505,000

Mortgage agreement, outstanding amount

$ 1,746,000

1,782,000

Mortgage agreement, maturity date

Mar. 31, 2022

Mortgage agreement, monthly principal payment

$ 6,000

Mortgage agreement, payable period

51 months

U.S. Bank [Member] | Senior secured credit facility | Notes Payable - Banks [Member]

Debt Instrument [Line Items]

Credit facility credit limit

$ 35,000,000

Expiration date

Mar. 31, 2022

Fixed interest rate

5.00%

Variable interest rate

1.50%

Effective interest rate

3.91%

Deferred financing costs

$ 13,097

24,197

Unamortized amount offset against outstanding debt

190,435

192,502

Outstanding balance under the credit facility

35,638,621

29,279,631

Unused availability under the credit facility

4,861,379

5,720,369

U.S. Bank [Member] | Credit Facility [Member] | Notes Payable - Banks [Member]

Debt Instrument [Line Items]

Credit facility credit limit

$ 45,000,000

Borrowing base percentage

90.00%

Number of days in measuring borrowing base requirements | item

90

Borrowing base minimum requirement

80.00%

Fixed charge coverage ratio

1.20%

Sublimits on inventory

$ 17,500,000

Sublimits on finished goods

$ 25,000,000

Engencap Fin S.A. DE C.V. [Member] | Notes Payable - Equipment 1 [Member] | Equipment [Member]

Debt Instrument [Line Items]

Fixed interest rate

6.65%

Secured note agreement amount

$ 596,987

Term extended agreement date

Nov. 1, 2021

Average quarterly payment under secured note agreement

$ 35,060

Secured note agreement, first payment date

Feb. 1, 2017

Outstanding amount under note agreement

388,041

447,741

Engencap Fin S.A. DE C.V. [Member] | Notes Payable - Equipment 2 [Member] | Equipment [Member]

Debt Instrument [Line Items]

Fixed interest rate

7.35%

Secured note agreement amount

$ 335,825

Term extended agreement date

Feb. 1, 2022

Average quarterly payment under secured note agreement

$ 20,031

Secured note agreement, first payment date

May 1, 2017

Outstanding amount under note agreement

235,078

268,660

Engencap Fin S.A. DE C.V. [Member] | Notes Payable To Equipment Three [Member] | Equipment [Member]

Debt Instrument [Line Items]

Fixed interest rate

7.35%

Secured note agreement amount

$ 636,100

Term extended agreement date

Jun. 1, 2022

Average quarterly payment under secured note agreement

$ 37,941

Secured note agreement, first payment date

Sep. 1, 2017

Outstanding amount under note agreement

477,075

540,685

Engencap Fin S.A. DE C.V. [Member] | Notes Payable - Equipment 4 [Member] | Equipment [Member]

Debt Instrument [Line Items]

Fixed interest rate

7.35%

Secured note agreement amount

$ 307,036

Term extended agreement date

Nov. 1, 2022

Average quarterly payment under secured note agreement

$ 18,314

Secured note agreement, first payment date

Feb. 1, 2018

Outstanding amount under note agreement

260,980

$ 291,684

Engencap Fin S.A. DE C.V. [Member] | Notes Payable - Equipment 5 [Member]

Debt Instrument [Line Items]

Fixed interest rate

8.00%

Secured note agreement amount

$ 182,557

Term extended agreement date

May 1, 2023

Average quarterly payment under secured note agreement

$ 11,045

Secured note agreement, first payment date

Aug. 1, 2018

Outstanding amount under note agreement

173,430

Minimum | Associated Bank, National Association [Member] | Capital Lease And Sale Leaseback Agreements [Member] | Equipment [Member]

Debt Instrument [Line Items]

Lease financing agreement date

Sep. 1, 2018

Payments under capital lease

$ 1,455

Fixed interest rate under capital lease

3.75%

Minimum | CIT Finance LLC [Member] | Capital Lease | Equipment [Member]

Debt Instrument [Line Items]

Lease financing agreement date

Mar. 1, 2019

Payments under capital lease

$ 1,931

Fixed interest rate under capital lease

5.65%

Minimum | First American Equipment Finance [Member] | Capital Sales Leaseback Agreement [Member] | Equipment [Member]

Debt Instrument [Line Items]

Lease financing agreement date

Aug. 1, 2021

Payments under capital lease

$ 3,127

Fixed interest rate under capital lease

5.82%

Maximum | Associated Bank, National Association [Member] | Capital Lease And Sale Leaseback Agreements [Member] | Equipment [Member]

Debt Instrument [Line Items]

Lease financing agreement date

May 1, 2022

Payments under capital lease

$ 40,173

Fixed interest rate under capital lease

4.90%

Maximum | CIT Finance LLC [Member] | Capital Lease | Equipment [Member]

Debt Instrument [Line Items]

Lease financing agreement date

Jul. 1, 2020

Payments under capital lease

$ 12,764

Fixed interest rate under capital lease

6.50%

Maximum | First American Equipment Finance [Member] | Capital Sales Leaseback Agreement [Member] | Equipment [Member]

Debt Instrument [Line Items]

Lease financing agreement date

Oct. 1, 2022

Payments under capital lease

$ 20,093

Fixed interest rate under capital lease

8.00%

SigmaTron Electronic Technology Co [Member] | Foreign Subsidiaries [Member] | China Construction Bank [Member] | Credit Facility [Member] | Notes Payable - Banks [Member]

Debt Instrument [Line Items]

Credit facility credit limit | ¥

¥ 5,000,000

Expiration date

Feb. 7, 2019

Fixed interest rate

6.09%

Outstanding balance under the credit facility

$ 545,616

$ 0

Income Tax (Narrative) (Details

Income Tax (Narrative) (Details) - USD ($)	Dec. 22, 2017	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018
Income Tax [Abstract]
Income tax expense		$ 1,125,992	$ 415,339	$ 928,986	$ 613,302
Effective income tax rate		280.06%	36.07%	(288.90%)	35.40%
Valuation allowance related to foreign net operating losses, not expected to be used		$ 678,529		$ 678,529		$ 678,529
Federal tax rate	34.00%					21.00%

Commitments And Contingencies (

Commitments And Contingencies (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017	Apr. 30, 2018	May 31, 2012
Commitments And Contingencies [Line Items]
Adjustment on contingent consideration liability			$ 34,621	$ 32,201
Spitfire
Commitments And Contingencies [Line Items]
Estimated fair value of contingent consideration						$ 2,320,000
Adjustment on contingent consideration liability	$ 17,092		34,621
Total payment for business acquisition	0	$ 66,276	55,075	$ 112,151
Contingent consideration liability	$ 193,006		$ 193,006		$ 213,460

Critical Accounting Policies (N

Critical Accounting Policies (Narrative) (Details) - USD ($)	6 Months Ended
	Oct. 31, 2017	Oct. 31, 2018	Apr. 30, 2017
Critical Accounting Policies [Abstract]
Valuation allowance related to foreign tax credit carry-forward			$ 78,100
Valuation allowance related to foreign net operating losses, not expected to be used		$ 678,529
Proceeds from insurance settlement	$ 63,402

Critical Accounting Policies (R

Critical Accounting Policies (Revenue Disaggregated By Principal End-User Markets) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Product Information [Line Items]
Total Net Trade Sales	$ 77,001,091	$ 72,959,074	$ 148,415,148	$ 144,183,367
Industrial Electronics [Member]
Product Information [Line Items]
Total Net Trade Sales	41,583,723		79,718,825
Consumer Electronics [Member]
Product Information [Line Items]
Total Net Trade Sales	31,490,883		60,691,796
Medical / Life Sciences [Member]
Product Information [Line Items]
Total Net Trade Sales	$ 3,926,485		$ 8,004,527

Related Parties (Narrative) (De

Related Parties (Narrative) (Details)	12 Months Ended
	Apr. 30, 2018USD ($)$ / itemshares	Oct. 31, 2018USD ($)	Mar. 31, 2015employee
Related Party Transaction [Line Items]
Amount owed by Petzila	$ 3,500,000
Outstanding note receivable from related parties	2,117,500
Outstanding account receivable from related parties	1,535,300
Cash from sold assets to Wagz	350,000
Loss on settlement of receivable and disposal of related assets	2,509,423
Fair value of non-cash consideration	$ 600,000
Earn-out		$ 91,578
Executive [Member]
Related Party Transaction [Line Items]
Number of executive officers invested in a start-up customer | employee			2
Maximum | Executive [Member]
Related Party Transaction [Line Items]
Executive officers' investment holding, percentage			2.00%
Wagz [Member]
Related Party Transaction [Line Items]
Asset Purchase Agreement end date	Jul. 31, 2022
Asset Purchase Agreement earn-out | $ / item	6
Fair value of assets received	$ 950,000
Common Class C [Member] | Wagz [Member]
Related Party Transaction [Line Items]
Shares acquired from Asset Purchase Agreement | shares	600,000