SigmaTron International (SGMA) 10-Q 13 Sep 21 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Jul. 31, 2021	Sep. 09, 2021
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--04-30
Document Fiscal Year Focus	2022
Document Period End Date	Jul. 31, 2021
Document Transition Report	false
Entity File Number	0-23248
Entity Registrant Name	SIGMATRON INTERNATIONAL, INC.
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	36-3918470
Entity Address Address Line 1	2201 Landmeier Road
Entity Address City Or Town	Elk Grove Village
Entity Address State Or Province	IL
Entity Address Postal Zip Code	60007
City Area Code	847
Local Phone Number	956-8000
Title of 12b Security	Common Stock $0.01 par value per share
Trading Symbol	SGMA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		4,284,508
Amendment Flag	false
Entity Central Index Key	0000915358

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jul. 31, 2021	Apr. 30, 2021
Current assets:
Cash and cash equivalents	$ 3,186,580	$ 3,509,229
Accounts receivable, less allowance for doubtful accounts of $100,000 at July 31, 2021 and April 30, 2020, respectively	33,753,786	28,783,161
Inventories, net	113,143,188	98,078,601
Prepaid expenses and other assets	1,893,486	1,314,834
Refundable and prepaid income taxes	447,714	388,766
Notes receivable	8,876,594	7,014,594
Other receivables	3,419,814	2,464,678
Total current assets	164,721,162	141,553,863
Property, machinery and equipment, net	35,328,032	34,186,918
Intangible assets, net	1,909,627	1,996,749
Deferred income taxes	1,685,937	1,647,143
Right-of-use operating lease assets	12,257,463	13,015,986
Other assets	1,685,772	1,772,748
Total other long-term assets	17,538,799	18,432,626
Total assets	217,587,993	194,173,407
Current liabilities:
Trade accounts payable	77,246,626	62,656,451
Accrued wages	7,191,954	6,283,987
Accrued expenses	2,499,012	2,457,882
Income taxes payable	1,939,692	1,331,504
Deferred revenue	2,172,350	423,971
Current portion of long-term debt	2,144,470	7,862,058
Current portion of finance lease obligations	1,312,029	1,455,638
Current portion of operating lease obligations	3,077,781	2,843,758
Total current liabilities	97,583,914	85,315,249
Long-term debt, less current portion	37,515,217	34,783,825
Income taxes payable	357,331	404,975
Finance lease obligations, less current portion	1,539,252	1,180,496
Operating lease obligations, less current portion	9,719,562	10,474,601
Other long-term liabilities	1,493,548	1,465,200
Total long-term liabilities	50,624,910	48,309,097
Total liabilities	148,208,824	133,624,346
Stockholders' equity:
Preferred stock, $0.01 par value; 500,000 shares authorized, none issued or outstanding
Common stock, $0.01 par value; 12,000,000 shares authorized, 4,284,508 and 4,269,508 shares issued and outstanding at July 31, 2021 and April 30, 2021, respectively	42,575	42,560
Capital in excess of par value	23,784,838	23,751,461
Retained earnings	45,551,756	36,755,040
Total stockholders' equity	69,379,169	60,549,061
Total liabilities and stockholders' equity	$ 217,587,993	$ 194,173,407

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Jul. 31, 2021	Apr. 30, 2021
Condensed Consolidated Balance Sheets [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 100,000	$ 100,000
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	4,284,508	4,269,508
Common stock, shares outstanding	4,284,508	4,269,508

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations - USD ($)	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Condensed Consolidated Statements Of Operations [Abstract]
Net sales	$ 85,739,434	$ 60,524,956
Cost of products sold	76,156,956	56,252,765
Gross profit	9,582,478	4,272,191
Selling and administrative expenses	6,111,015	5,059,525
Operating income (loss)	3,471,463	(787,334)
Gain on extinguishment of long-term debt	(6,282,973)
Other income	(37,141)	(4,098)
Interest expense	237,916	338,264
Income (loss) before income tax expense	9,553,661	(1,121,500)
Income tax expense (benefit)	756,945	(220,834)
Net income (loss)	$ 8,796,716	$ (900,666)
Earnings (loss) per share - basic	$ 2.06	$ (0.21)
Earnings (loss) per share - diluted	$ 2.02	$ (0.21)
Weighted average shares of common stock outstanding - Basic	4,275,410	4,250,986
Weighted average shares of common stock outstanding - Diluted	4,353,912	4,250,986

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Changes In Stockholders' Equity - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Capital In Excess Of Par Value [Member]	Retained Earnings [Member]	Total
Balance at Apr. 30, 2020		$ 42,265	$ 23,619,513	$ 35,214,021	$ 58,875,799
Restricted stock awards		31	15,198		15,229
Net income (loss)				(900,666)	(900,666)
Balance at Jul. 31, 2020		42,296	23,634,711	34,313,355	57,990,362
Balance at Apr. 30, 2021		42,560	23,751,461	36,755,040	60,549,061
Recognition of stock-based compensation			20,035		20,035
Restricted stock awards		15	13,342		13,357
Net income (loss)				8,796,716	8,796,716
Balance at Jul. 31, 2021		$ 42,575	$ 23,784,838	$ 45,551,756	$ 69,379,169

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Cash Flows - USD ($)	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Cash flows from operating activities
Net income (loss)	$ 8,796,716	$ (900,666)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization of property, machinery and equipment	1,356,277	1,265,719
Stock-based compensation	20,035
Restricted stock expense	13,357	15,229
Deferred income tax (benefit) expense	(38,794)	1,544
Gain on extinguishment of long-term debt	(6,282,973)
Amortization of intangible assets	87,122	89,036
Amortization of financing fees	18,606	36,926
Loss from disposal or sale of machinery and equipment	9,497	4,242
Changes in operating assets and liabilities
Accounts receivable	(4,970,625)	2,787,494
Inventories	(15,064,587)	1,972,771
Prepaid expenses and other assets	482,233	(583,689)
Refundable and prepaid income taxes	(58,948)	(59,240)
Income taxes payable	560,544	(270,663)
Trade accounts payable	14,590,175	(11,118,270)
Operating lease liabilities	(521,016)	730,722
Accrued expenses and wages	848,620	886,244
Deferred revenue	1,748,379
Net cash provided by (used in) operating activities	1,594,618	(5,142,601)
Cash flows from investing activities
Purchases of machinery and equipment	(2,901,827)	(966,856)
Advances on notes receivable	(1,862,000)	(1,131,900)
Net cash used in investing activities	(4,763,827)	(2,098,756)
Cash flows from financing activities
Proceeds under equipment notes		1,128,608
Payments under finance lease and sale leaseback agreements	(494,730)	(549,758)
Payments under equipment notes	(261,863)	(118,599)
Payments under building notes payable	(119,365)	(80,416)
Borrowings under revolving line of credit	93,348,538	76,661,576
Payments under revolving line of credit	(89,462,832)	(73,725,348)
Payments of debt financing costs	(163,188)	(8,055)
Net cash provided by financing activities	2,846,560	3,308,008
Change in cash and cash equivalents	(322,649)	(3,933,349)
Cash and cash equivalents at beginning of period	3,509,229	6,779,445
Cash and cash equivalents at end of period	3,186,580	2,846,096
Supplementary disclosures of cash flow information
Cash paid for interest	296,405	338,898
Cash paid for income taxes	293,707	96,288
Purchase of machinery and equipment financed under finance leases	709,877	671,446
Financing of insurance policy	65,706	$ 83,048
Gain on extinguishment of long-term debt	$ 6,282,973

Description Of The Business

Description Of The Business	3 Months Ended
	Jul. 31, 2021
Description Of The Business [Abstract]
Description Of The Business	Note A - Description of the Business SigmaTron International, Inc., its subsidiaries, foreign enterprises and international procurement office (collectively, the “Company”) operates in one business segment as an independent provider of electronic manufacturing services (“EMS”), which includes printed circuit board assemblies and completely assembled (box-build) electronic products. In connection with the production of assembled products, the Company also provides services to its customers, including (1) automatic and manual assembly and testing of products; (2) material sourcing and procurement; (3) manufacturing and test engineering support; (4) design services; (5) warehousing and distribution services; and (6) assistance in obtaining product approval from governmental and other regulatory bodies .

Basis Of Presentation

Basis Of Presentation	3 Months Ended
	Jul. 31, 2021
Basis Of Presentation [Abstract]
Basis Of Presentation	Note B - 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 month period ended July 31, 2021 is not necessarily indicative of the results that may be expected for the year ending April 30, 2022. The condensed consolidated balance sheet at April 30, 2021, 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, 2021. COVID-19 and CARES Act A pandemic of respiratory diseases, including variants (commonly known as "COVID-19") began to spread globally, including to the United States, in early 2020. The full impact of the COVID-19 outbreak is inherently uncertain at the time of this report. The COVID-19 outbreak has resulted in travel restrictions and in some cases, prohibitions of non-essential activities, disruption and shutdown of certain businesses and greater uncertainty in global financial markets. The full extent to which COVID-19 impacts the Company’s business, global supply chain, results of operations and financial condition will depend on future developments, which are highly uncertain and cannot be predicted, including, but not limited to, the duration and spread of the outbreak within the U.S., China, Mexico, Vietnam and Taiwan, its severity, the actions to contain the virus or treat its impact, and how quickly and to what extent normal economic and operating conditions can resume. Note B - Basis of Presentation - Continued Even after COVID-19 has subsided, the Company may continue to experience materially adverse impacts to its business as a result of its global economic impact, including any recession that has occurred or may occur in the future. There are no comparable recent events which may provide guidance as to the effect of the spread of COVID-19, and, as a result, the ultimate impact of COVID-19, or a similar health epidemic or pandemic, is highly uncertain and subject to change. The Company has adopted several measures in response to the COVID-19 outbreak. To date, the Company has been able to continue to meet the needs of its customers. Although the Company cannot estimate the length or gravity of the impact of the COVID-19 outbreak at this time, if the pandemic continues, it may have a material adverse effect on the Company’s results of future operations, financial position, and liquidity in fiscal year 2022. On March 27, 2020, former President Trump signed into law the “Coronavirus Aid, Relief, and Economic Security (CARES) Act.” It also appropriated funds for the U.S. Small Business Administration (“SBA”) Paycheck Protection Program (“PPP Loan”) loans that are forgivable in certain situations to promote continued employment, as well as Economic Injury Disaster Loans to provide liquidity to small businesses harmed by COVID-19. As further described in Note E, the Company received funds under the PPP Loan in the amount of $ 6,282,973 . The PPP Loan was due to mature on April 23, 2022 . The Company was notified of the forgiveness of the PPP Loan by the SBA on July 9, 2021 and it covers all principal and accrued interest. The accounting for the forgiveness is reflected in the Company’s Statement of Operations under the extinguishment of PPP Loan debt. Under the terms of all PPP Loans, all aspects of the PPP Loan remain subject to review by the SBA. While the Company is not aware of any issues, if it is later determined that it violated applicable laws or was otherwise ineligible to receive the PPP Loan, the Company will be required to repay the PPP Loan in its entirety in a lump sum and may be subject to additional penalties. If these events were to transpire, they could have a material adverse effect on the Company’s business, results of operations, financial condition and liquidity for the remainder of fiscal year 2022 and beyond. Reclassifications Certain amounts recorded in the prior-period consolidated financial statements presented have been reclassified to conform to the current-period financial statement presentation. These reclassifications had no effect on previously reported results of operations.

Inventories, Net

Inventories, Net	3 Months Ended
	Jul. 31, 2021
Inventories, Net [Abstract]
Inventories, Net	Note C - Inventories, net The components of inventory consist of the following: July 31, April 30, 2021 2021 Finished products $ 24,443,995 $ 22,858,073 Work-in-process 6,975,389 5,601,560 Raw materials 84,138,114 72,033,278 115,557,498 100,492,911 Less excess and obsolescence reserve ( 2,414,310 ) ( 2,414,310 ) $ 113,143,188 $ 98,078,601

Earnings Per Share And Stockhol

Earnings Per Share And Stockholders' Equity	3 Months Ended
	Jul. 31, 2021
Earnings Per Share And Stockholders' Equity [Abstract]
Earnings Per Share And Stockholders' Equity	Note D - Earnings Per Share and Stockholders’ Equity The following table sets forth the computation of basic and diluted earnings (loss) per share: Three Months Ended July 31, July 31, 2021 2020 Net income (loss) $ 8,796,716 $ ( 900,666 ) Weighted-average shares Basic 4,275,410 4,250,986 Effect of dilutive stock options 78,502 - Diluted 4,353,912 4,250,986 Basic earnings (loss) per share $ 2.06 $ ( 0.21 ) Diluted earnings (loss) per share $ 2.02 $ ( 0.21 ) Options to purchase 513,232 shares of common stock were outstanding at July 31, 2021 and 2020. There were 102,000 options granted during the three month period ended July 31, 2021 and no options were granted during the three month period ended July 31, 2020. There was $ 20,035 and $ 0 stock option expense recognized for the three month periods ended July 31, 2021 and 2020, respectively. The balance of unrecognized compensation expense related to the Company’s stock option plans at July 31, 2021 and 2020 was $ 225,734 and $ 0 , respectively. For the three month period ended July 31, 2021 and 2020, 72,643 and 299,129 shares, respectively, were not included in the diluted weighted average common shares outstanding calculation as they were anti-dilutive.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Jul. 31, 2021
Long-Term Debt [Abstract]
Long-Term Debt	Note E - Long-term Debt Debt and capital lease obligations consisted of the following at July 31, 2021 and April 30, 2021: July 31, April 30, 2021 2021 Debt: Notes Payable - Banks $ 29,514,345 $ 32,137,919 Notes Payable - Buildings 6,818,398 6,937,763 Notes Payable - Equipment 3,661,776 3,923,639 Unamortized deferred financing costs ( 334,832 ) ( 353,438 ) Total debt 39,659,687 42,645,883 Less current maturities 2,144,470 7,862,058 Long-term debt $ 37,515,217 $ 34,783,825 Finance lease obligations $ 2,851,281 $ 2,636,134 Less current maturities 1,312,029 1,455,638 Total finance lease obligations, less current portion $ 1,539,252 $ 1,180,496 Notes Payable – Banks Prior to January 29, 2021, the Company had a senior secured credit facility with U.S. Bank National Association (“U.S. Bank”). The revolving credit facility allowed the Company to borrow up to the lesser of (i) $ 45,000,000 (the “Revolving Line Cap”) less reserves or (ii) the Borrowing Base, but no more than 80 % of the Company’s Revolving Line Cap. Prior to its payoff and termination, the U.S. Bank senior secured credit facility was due to expire on March 31, 2022. On January 29, 2021, the Company paid the balance outstanding under the senior secured credit facility in the amount of $ 25,574,733 . The unamortized deferred financing costs of $ 158,476 were expensed in fiscal year 2021 upon extinguishment of the debt. On January 29, 2021, the Company entered into a Credit Agreement (the “Agreement”) with JPMorgan Chase Bank, N.A. (“Lender”), pursuant to which Lender has agreed to provide the Company with a secured credit facility maturing on January 29, 2026 , of which (a) up to $ 50,000,000 is available on a revolving loan basis, and (b) an aggregate of $ 6,500,000 was borrowed pursuant to two term loans (the “Facility”). The Facility is secured by substantially all of SigmaTron’s assets including mortgages on its two Illinois properties. The Facility allows the Company to choose among interest rates at which it may borrow funds for revolving loans: “CBFR Loans,” the interest on which is based on (A) the “REVLIBOR30 Rate” (as defined in the Agreement) unless the REVLIBOR30 Rate is not available, in which case the interest is generally the rate of interest last quoted by The Wall Street Journal as the “Prime Rate” in the U.S., plus (B) an applicable margin of 2.0 % (effectively 2.25 % per annum at July 31, 2021); or “Eurodollar Loans,” the interest on which is based on (X) an interest rate per annum (rounded upwards, if Note E - Long-term Debt - Continued necessary, to the next 1/16 of 1%) equal to the LIBO Rate (as defined in the Agreement) for any interest period multiplied by the Standard Reserve Rate (as defined in the Agreement) plus (Y) an applicable margin of 2.0%. Under the revolving portion of the Facility, the Company may borrow up to the lesser of (i) $ 50,000,000 or (ii) an amount equal to a percentage of the eligible receivable borrowing base plus a percentage of the inventory borrowing base. The Facility is collateralized by a lien on substantially all of the assets of the Company. Under the Agreement, a minimum Fixed Charge Coverage Ratio (“FCCR”) financial covenant of 1.10x is applicable only during an FCCR trigger period which occurs when (i) an event of default (as defined in the Agreement) has occurred and is continuing, and Lender has elected to impose a FCCR trigger period upon notice to the Company or (ii) availability falls below the greater of (a) 10 % of the revolving commitment and (b) the outstanding principal amount of the term loans. The Company was not in a FCCR trigger period as of July 31, 2021. Deferred financing costs of $ 361,734 were capitalized during the fiscal year ended April 30, 2021 and will be amortized over the term of the Agreement. As of July 31, 2021, there was $ 28,853,375 outstanding and $ 19,454,713 of unused availability under the revolving Facility compared to an outstanding balance of $ 24,967,668 and $ 15,947,990 unused availability at April 30, 2021. As of July 31, 2021 and April 30, 2021, the unamortized amount offset against outstanding debt was $ 325,787 and $ 343,890 , respectively. On April 23, 2020, the Company received a PPP loan from U.S. Bank, as lender, pursuant to the Paycheck Protection Program of the CARES Act, as administered by the SBA in the amount of $ 6,282,973 . The Company submitted its loan forgiveness application on March 26, 2021. The Company was notified of the forgiveness of the PPP Loan by the SBA on July 9, 2021 and it covers all principal and accrued interest. The accounting for the forgiveness is reflected in the Company’s Statement of Operations as a non-cash gain upon extinguishment of PPP Loan debt. Under the terms of all PPP Loans, all aspects of the PPP Loan remain subject to review by the SBA. While the Company is not aware of any issues, if it is later determined that it violated applicable laws or was otherwise ineligible to receive the PPP Loan, the Company will be required to repay the PPP Loan in its entirety in a lump sum and may be subject to additional penalties. On March 15, 2019, the Company’s wholly-owned subsidiary, SigmaTron Electronic Technology Co., Ltd., entered into a credit facility with China Construction Bank. On January 26, 2021, the agreement was amended. Under the agreement SigmaTron Electronic Technology Co., Ltd. can borrow up to 9,000,000 Renminbi, approximately $ 1,393,000 as of July 31, 2021, 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 3.85 %. The term of the facility extends to January 6, 2022 . There was $ 660,970 outstanding under the facility at July 31, 2021 compared to an outstanding balance of $ 824,159 at April 30, 2021. Note E - Long-term Debt - Continued 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 in Elk Grove Village, Illinois. The note required the Company to pay monthly principal payments in the amount of $ 17,333 , bore interest at a fixed rate of 4.0 % per year and was payable over a fifty one month period. Deferred financing costs of $ 74,066 were capitalized in fiscal year 2018 which were amortized over the term of the agreement. On January 29, 2021, the Company repaid its U.S. Bank mortgage in the amount outstanding of $ 4,576,000 , using proceeds from the Facility extended by Lender. The Company recorded a prepayment penalty of $ 120,842 in fiscal year 2021. The remaining deferred financing costs of $ 21,365 were expensed in fiscal year 2021. 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 required the Company to pay monthly principal payments in the amount of $ 6,000 , bore interest at a fixed rate of 4.0 % per year and was payable over a fifty one month period. Deferred financing costs of $ 65,381 were capitalized in the fiscal year 2018 which were amortized over the term of the agreement. On January 29, 2021, the Company repaid its U.S. Bank mortgage in the amount outstanding of $ 1,584,000 , using proceeds from the Facility extended by Lender. The Company recorded a prepayment penalty of $ 41,830 in fiscal year 2021. The remaining deferred financing costs of $ 18,859 were expensed in fiscal year 2021. The Company’s Facility with Lender, entered into on January 29, 2021, also included two term loans, in the aggregate principal amount of $ 6,500,000 . The loans require the Company to pay aggregate principal payments in the amount of $ 36,111 per month for 60 months, plus monthly payments of interest thereon at (A) the REVLIBOR30 Rate, unless the REVLIBOR30 Rate is not available, in which case the interest is generally the rate of interest last quoted by The Wall Street Journal as the “Prime Rate” in the U.S., plus (B) an applicable margin of 2.5 %; (effectively 2.75 % per annum at July 31, 2021); or “Eurodollar Loans,” the interest on which is based on (X) an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the LIBO Rate (as defined in the Agreement) for any interest period multiplied by the Standard Reserve Rate (as defined in the Agreement) plus (Y) an applicable margin of 2.5%. Deferred financing costs of $ 10,050 were capitalized during fiscal year 2021 which are amortized over the term of the agreement. As of July 31, 2021, the unamortized amount included as a reduction to long-term debt was $ 9,045 . A final aggregate payment of approximately $ 4,368,444 is due on or before January 29, 2026 . The outstanding balance was $ 6,319,445 at July 31, 2021 compared to an outstanding balance of $ 6,427,778 at April 30, 2021. The Company entered into a mortgage agreement on March 3, 2020, in the amount of $ 556,000 , with The Bank and Trust SSB to finance the purchase of the property that serves as the Company’s warehousing and distribution center in Del Rio, Texas. The note requires the Company to pay monthly installment payments in the amount of $ 6,103 . Interest accrues at a fixed rate of 5.75 % per year until March 3, 2025, and adjusts thereafter, on an annual basis, equal to 1.0% over the Prime Note E - Long-term Debt - Continued Rate as published by The Wall Street Journal. The note is payable over a 120 month period. The outstanding balance was $ 498,953 and $ 509,985 at July 31, 2021 and April 30, 2021, respectively. Notes Payable – Equipment The Company routinely enters into secured note agreements with Engencap Fin S.A. DE C.V. to finance the purchase of equipment. The terms of these secured note agreements mature from November 1, 2021 through May 1, 2023 , with quarterly installment payments ranging from $ 11,045 to $ 37,941 and a fixed interest rate ranging from 6.65 % to 8.00 %. The Company routinely enters into secured note agreements with FGI Equipment Finance LLC to finance the purchase of equipment. The terms of these secured note agreements mature from March 1, 2025 through April 1, 2026 , with quarterly installment payments ranging from $ 10,723 to $ 69,439 and a fixed interest rate of 8.25 %. Annual maturities of the Company’s debt, net of deferred financing fees for the remaining periods as of July 31, 2021, are as follows: Bank Building Equipment Total For the remaining 9 months of the fiscal year ending April 30: 2022 $ 660,970 $ 359,059 $ 775,680 $ 1,795,709 For the fiscal years ending April 30: 2023 - 481,085 825,854 1,306,939 2024 - 483,904 781,148 1,265,052 2025 - 486,890 837,710 1,324,600 2026 28,527,588 4,742,119 441,384 33,711,091 2027 - 60,068 - 60,068 Thereafter - 196,228 - 196,228 $ 29,188,558 $ 6,809,353 $ 3,661,776 $ 39,659,687 Finance Lease and Sales Leaseback Obligations The Company enters into various finance lease and sales leaseback agreements. The terms of the lease agreements mature through January 1, 2025 , with monthly installment payments ranging from $ 1,455 to $ 40,173 and a fixed interest rate ranging from 3.75 % to 12.73 %.

Income Tax

Income Tax	3 Months Ended
	Jul. 31, 2021
Income Tax [Abstract]
Income Tax	Note F - Income Tax The income tax expense was $ 756,945 for the three month period ended July 31, 2021 compared to an income tax benefit of $ 220,834 for the same period in the prior fiscal year. The Company’s effective tax rate was 7.92 % and 19.69 % for the quarters ended July 31, 2021 and 2020, respectively. The increase in income tax expense for the three month period ended July 31, 2021 compared to the same period in the previous year is due to income recognized in the current quarter compared to a loss in the previous year. The decrease in effective tax rate is due to tax exempt income recognized in the current quarter. Note F - Income Tax - Continued As described in Note E, the Company received a PPP Loan under the CARES Act of $ 6,282,973 . For federal income tax purposes, the CARES Act expressly provides that any forgiveness or cancellation of all or part of such loans will not be treated as income for tax purposes. On January 6, 2021 the IRS issued Revenue Ruling 2021-02 allowing deductions for the payments of eligible expenses when such payments would result in the forgiveness of a loan under the PPP. The ruling supersedes previous IRS guidance stating that such deductions would be disallowed. The Company received full forgiveness of its PPP Loan on July 9, 2021 . In accordance with the CARES Act and IRS Revenue Ruling 2021-02, the loan forgiveness amount was excluded from income for tax purposes. The Company has not changed its plans to indefinitely reinvest the earnings of the Company’s foreign subsidiaries. The cumulative amount of unremitted earnings for which U.S. income taxes have not been recorded is $ 5,538,000 as of July 31, 2021.

Commitments And Contingencies

Commitments And Contingencies	3 Months Ended
	Jul. 31, 2021
Commitments And Contingencies [Abstract]
Commitments And Contingencies	Note G - 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.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Jul. 31, 2021
Significant Accounting Policies [Abstract]
Significant Accounting Policies	Note H - Significant 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, excess and obsolete reserves for inventory, deferred income, deferred taxes, uncertain tax positions, valuation allowance for deferred taxes and valuation of long-lived assets. Actual results could materially differ from these estimates. The potential impact of future disruptions and continued economic uncertainty over COVID-19 may have a significant adverse impact on the timing of delivery of customer orders and the levels of future customer orders. It is possible that these potential adverse impacts may result in the recognition of material impairments of the Company’s long-lived assets or other related charges in future periods. Note H - Significant Accounting Policies - Continued Revenue Recognition - The following table presents the Company’s revenue disaggregated by the principal end-user markets it serves: Three Months Ended July 31, July 31, Net trade sales by end-market 2021 2020 Industrial Electronics $ 47,244,892 $ 36,617,258 Consumer Electronics 32,603,876 21,168,239 Medical / Life Sciences 5,890,666 2,739,459 Total Net Trade Sales $ 85,739,434 $ 60,524,956 During the three month period ending July 31, 2021, 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 July 31, 2021. 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 July 31, 2021, with an expected duration of greater than one year. 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’s valuation allowance was $ 1,058,648 and $ 1,138,736 as of July 31, 2021 and April 30, 2021, respectively. Note H - Significant Accounting Policies - Continued Investment in Wagz - The Company has recorded an investment in Wagz, Inc. (“Wagz”), a privately held company whose equity does not have a readily determinable fair value. As permitted by ASC 321, Investments - Equity Securities, paragraph 321-35-2, the Company has elected to carry its investment in Wagz equity at its cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or a similar investment of the same issuer until the investment no longer qualifies to be measured under paragraph 321-35-2. At July 31, 2021 and April 30, 2021, the Company continued to recognize the fair value of the Wagz common stock at $ 600,000 , which is recorded within other assets. On May 29, 2020, SigmaTron and Wagz, a privately held company in the pet technology market, entered into a Convertible Secured Promissory Note in the principal sum of up to $ 4,052,478 . On January 27, 2021, Wagz issued an additional Convertible Secured Promissory Note to the Company in the principal sum of up to $ 1,588,328 . On April 30, 2021, Wagz issued an additional Convertible Secured Promissory Note to the Company in the principal amount of $ 1,249,966 . On April 30, 2021, Wagz issued a Secured Promissory Note to the Company in the principal amount of $ 308,329 . On July 31, 2021, Wagz issued an additional Convertible Secured Promissory Note to the Company in the principal amount of $ 1,905,712 . On July 31, 2021, Wagz issued a Secured Promissory Note to the Company in the principal amount of $ 38,723 (collectively, the “Notes”). At July 31, 2021, $ 8,876,594 and $ 243,980 was outstanding under Notes receivable and Other receivables, respectively, in the consolidated balance sheet compared to $ 7,014,594 and $ 184,507 , respectively, at April 30, 2021. The Notes are due (the “Maturity Date”) on the earliest to occur of (a) December 31, 2021 or, if the closing of the Company’s proposed acquisition of Wagz (the “Closing”) does not occur due to the Company’s termination, that date which is twelve (12) months after the date of such termination, (b) upon the closing of a sale of all or substantially all of the assets or common stock of Wagz (other than the Closing), or (c) an Event of Default (as defined in the Notes). Interest is payable at the rate of four percent ( 4 %) per annum and is payable on the Maturity Date. The Notes are collateralized by substantially all assets of Wagz. On June 4, 2020, SigmaTron and Wagz, announced that they executed a Letter of Intent (“LOI”) relating to a proposed acquisition. Subject to the terms and conditions set forth in the LOI, SigmaTron expects to issue approximately 2,443,870 shares of SigmaTron common stock that would result in the stockholders of Wagz owning in the aggregate approximately one-third of the combined company. On July 19, 2021 the definitive agreement was signed. The parties expect the transaction to close by September 30, 2021 and it remains subject to achievement of certain milestones and satisfaction of conditions by both parties prior to Closing including the Company having determined that the Wagz Freedom Smart Dog Collar™ meets certain criteria, and the approval by the stockholders of both SigmaTron and Wagz. In November 2020, Wagz sought short-term financing for its operations and secured a commitment from Angel Business Credit, LLC (“ABC”) for a loan of $ 250,000 conditioned on Wagz granting ABC a security interest in its assets and Gary R. Fairhead executing a personal guaranty. Mr. Fairhead is the Company’s President and CEO; his personal guaranty requires the approval of the Audit Committee of the Company’s Board of Directors. After consideration, the Audit Committee determined that Mr. Fairhead’s guaranty was in the best interests of the Company and approved the guaranty. The loan closed on November 12, 2020, and its principal, plus interest equal to $ 5,000 , were due on the maturity Note H - Significant Accounting Policies – Continued date, December 10, 2020 . The loan was paid in full on December 8, 2020. As a result, Mr. Fairhead’s guaranty was cancelled and ABC’s security interest was terminated. New Accounting Standards: 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, as amended by ASU 2019-04 and ASU 2019-05, 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 small reporting companies, ASU 2016-13 is effective for annual and interim reporting periods beginning after December 15, 2022, and the guidance is to be applied using the modified-retrospective approach. Earlier adoption is permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, “ Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ”, which provides optional expedients and exceptions for a period of time to ease the potential burden in accounting for the transition from reference rates that are expected to be discontinued. Regulators and market participants in various jurisdictions have undertaken efforts to eliminate certain reference rates and introduce new reference rates that are based on a larger and more liquid population of observable transactions. The amendments in this update apply only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. In January 2021, the FASB issued clarification on the scope of relief related to the reference rate reform. The Company is currently evaluating the impact of this guidance on its consolidated financial statements.

Leases

Leases	3 Months Ended
	Jul. 31, 2021
Leases [Abstract]
Leases	Note I – Leases The Company leases office and storage space, vehicles and other equipment under non-cancellable operating leases with initial terms typically ranging from 1 to 5 years. At contract inception, the Company reviews the facts and circumstances of the arrangement to determine if the contract is or contains a lease. The Company follows the guidance in Topic 842 “Leases” to evaluate whether the contract has an identified asset; if the Company has the right to obtain substantially all economic benefits from the asset; and if the Company has the right to direct the use of the underlying asset. When determining if a contract has an identified asset, the Company considers both explicit and implicit assets, and whether the supplier has the right to substitute the asset. When determining if the Company has the right to direct the use of an underlying asset, the Company considers if they have the right to direct how and for what purpose the asset is used throughout the period of use and if they control the decision-making rights over the asset. The Company’s lease terms may include options to extend or terminate the lease. The Company exercises judgment to determine the term of those leases when extension or termination options are present and include such options in the calculation of the lease term when it is reasonably certain that it will exercise those options. The Company has elected to include both lease and non-lease components in the determination of lease payments. Payments made to a lessor for items such as taxes, insurance, common area maintenance, or other costs commonly referred to as executory costs, are also included in lease payments if they are fixed. The fixed portion of these payments are included in the calculation of the lease liability, while any variable portion would be recognized as variable lease expenses, when incurred. Variable payments made to third parties for these, or similar costs, such as utilities, are not included in the calculation of lease payments. At commencement, lease-related assets and liabilities are measured at the present value of future lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company exercises judgment in determining the incremental borrowing rate based on the information available when the lease commences to measure the present value of future payments. Operating lease expense is recognized on a straight-line basis over the lease term. Finance lease cost includes amortization, which is recognized on a straight-line basis over the expected life of the leased asset, and interest expense, which is recognized following an effective interest rate method. Operating leases are included in other assets, current operating lease obligations, and operating lease obligations (less current portion) on the Company’s consolidated balance sheet. Finance leases are included in property, plant and equipment and current and long-term portion of finance lease obligations on the Company’s consolidated balance sheet. Short term leases with an initial term of 12 months or less are not presented on the balance sheet with expense recognized as incurred. Note I – Leases – Continued The following table presents lease assets and liabilities and their balance sheet classification: July 31, April 30, Classification 2021 2021 Operating Leases: Right-of-use Assets Right-of-use operating lease assets $ 12,257,463 $ 13,015,986 Operating lease current liabilities Current portion of operating lease obligations 3,077,781 2,843,758 Operating lease noncurrent liabilities Operating lease obligations, less current portion 9,719,562 10,474,601 Finance Leases: Right-of-use Assets Property, machinery and equipment, net 5,616,959 5,843,068 Finance lease current liabilities Current portion of finance lease obligations 1,312,029 1,455,638 Finance lease noncurrent liabilities Finance lease obligations, less current portion 1,539,252 1,180,496 Note I – Leases – Continued The components of lease expense for the three month period ended July 31, 2021 and 2020, are as follows: Three Months Ended July 31, July 31, Classification 2021 2020 Operating Leases: Operating lease cost Operating expenses 591,358 373,696 Variable lease cost Operating expenses 97,354 78,347 Short term lease cost Operating expenses 1,800 1,350 Finance Leases: Amortization of right-of-use assets Operating expenses 594,103 419,693 Interest expense Interest expense 66,404 66,358 Total 1,351,019 939,444 The weighted average lease term and discount rates for the quarter ended July 31, 2021 and 2020, are as follows: Three Months Ended July 31, July 31, 2021 2020 Operating Leases: Weighted average remaining lease term (months) 52.90 59.30 Weighted average discount rate 3.1 % 3.1 % Finance Leases: Weighted average remaining lease term (months) 23.98 24.43 Weighted average discount rate 8.2 % 7.6 % Note I – Leases – Continued Future payments due under leases reconciled to lease liabilities are as follows: Operating Leases Finance Leases For the remaining 9 months of the fiscal year ending April 30: 2022 $ 2,577,133 $ 1,252,099 For the fiscal years ending April 30: 2023 3,452,535 942,692 2024 2,975,364 612,106 2025 2,354,451 391,259 2026 1,867,550 - 2027 343,006 - Thereafter 150,252 - Total undiscounted lease payments 13,720,291 3,198,156 Present value discount, less interest 922,948 346,875 Lease liability $ 12,797,343 $ 2,851,281 Supplemental disclosures of cash flow information related to leases for the three months ended July 31, 2021 and 2020 are as follows: Three Months Ended July 31, July 31, Other Information 2021 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from finance leases 66,404 66,358 Operating cash flows from operating leases 101,667 54,021 Financing cash flows from finance leases 494,730 549,758 Supplemental non-cash information on lease labilities arising from obtaining right-of-use assets: Right-of-use assets obtained in exchange for new finance lease liabilities 709,877 - Right-of-use assets obtained in exchange for operating lease liabilities - 334,530

Significant Accounting Polici_2

Significant Accounting Policies (Policy)	3 Months Ended
	Jul. 31, 2021
Significant 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, excess and obsolete reserves for inventory, deferred income, deferred taxes, uncertain tax positions, valuation allowance for deferred taxes and valuation of long-lived assets. Actual results could materially differ from these estimates. The potential impact of future disruptions and continued economic uncertainty over COVID-19 may have a significant adverse impact on the timing of delivery of customer orders and the levels of future customer orders. It is possible that these potential adverse impacts may result in the recognition of material impairments of the Company’s long-lived assets or other related charges in future periods.
Revenue Recognition	Revenue Recognition - The following table presents the Company’s revenue disaggregated by the principal end-user markets it serves: Three Months Ended July 31, July 31, Net trade sales by end-market 2021 2020 Industrial Electronics $ 47,244,892 $ 36,617,258 Consumer Electronics 32,603,876 21,168,239 Medical / Life Sciences 5,890,666 2,739,459 Total Net Trade Sales $ 85,739,434 $ 60,524,956 During the three month period ending July 31, 2021, 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 July 31, 2021. 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 July 31, 2021, with an expected duration of greater than one year.
Income Taxes	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’s valuation allowance was $ 1,058,648 and $ 1,138,736 as of July 31, 2021 and April 30, 2021, respectively.
Investment In Wagz	Investment in Wagz - The Company has recorded an investment in Wagz, Inc. (“Wagz”), a privately held company whose equity does not have a readily determinable fair value. As permitted by ASC 321, Investments - Equity Securities, paragraph 321-35-2, the Company has elected to carry its investment in Wagz equity at its cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or a similar investment of the same issuer until the investment no longer qualifies to be measured under paragraph 321-35-2. At July 31, 2021 and April 30, 2021, the Company continued to recognize the fair value of the Wagz common stock at $ 600,000 , which is recorded within other assets. On May 29, 2020, SigmaTron and Wagz, a privately held company in the pet technology market, entered into a Convertible Secured Promissory Note in the principal sum of up to $ 4,052,478 . On January 27, 2021, Wagz issued an additional Convertible Secured Promissory Note to the Company in the principal sum of up to $ 1,588,328 . On April 30, 2021, Wagz issued an additional Convertible Secured Promissory Note to the Company in the principal amount of $ 1,249,966 . On April 30, 2021, Wagz issued a Secured Promissory Note to the Company in the principal amount of $ 308,329 . On July 31, 2021, Wagz issued an additional Convertible Secured Promissory Note to the Company in the principal amount of $ 1,905,712 . On July 31, 2021, Wagz issued a Secured Promissory Note to the Company in the principal amount of $ 38,723 (collectively, the “Notes”). At July 31, 2021, $ 8,876,594 and $ 243,980 was outstanding under Notes receivable and Other receivables, respectively, in the consolidated balance sheet compared to $ 7,014,594 and $ 184,507 , respectively, at April 30, 2021. The Notes are due (the “Maturity Date”) on the earliest to occur of (a) December 31, 2021 or, if the closing of the Company’s proposed acquisition of Wagz (the “Closing”) does not occur due to the Company’s termination, that date which is twelve (12) months after the date of such termination, (b) upon the closing of a sale of all or substantially all of the assets or common stock of Wagz (other than the Closing), or (c) an Event of Default (as defined in the Notes). Interest is payable at the rate of four percent ( 4 %) per annum and is payable on the Maturity Date. The Notes are collateralized by substantially all assets of Wagz. On June 4, 2020, SigmaTron and Wagz, announced that they executed a Letter of Intent (“LOI”) relating to a proposed acquisition. Subject to the terms and conditions set forth in the LOI, SigmaTron expects to issue approximately 2,443,870 shares of SigmaTron common stock that would result in the stockholders of Wagz owning in the aggregate approximately one-third of the combined company. On July 19, 2021 the definitive agreement was signed. The parties expect the transaction to close by September 30, 2021 and it remains subject to achievement of certain milestones and satisfaction of conditions by both parties prior to Closing including the Company having determined that the Wagz Freedom Smart Dog Collar™ meets certain criteria, and the approval by the stockholders of both SigmaTron and Wagz. In November 2020, Wagz sought short-term financing for its operations and secured a commitment from Angel Business Credit, LLC (“ABC”) for a loan of $ 250,000 conditioned on Wagz granting ABC a security interest in its assets and Gary R. Fairhead executing a personal guaranty. Mr. Fairhead is the Company’s President and CEO; his personal guaranty requires the approval of the Audit Committee of the Company’s Board of Directors. After consideration, the Audit Committee determined that Mr. Fairhead’s guaranty was in the best interests of the Company and approved the guaranty. The loan closed on November 12, 2020, and its principal, plus interest equal to $ 5,000 , were due on the maturity Note H - Significant Accounting Policies – Continued date, December 10, 2020 . The loan was paid in full on December 8, 2020. As a result, Mr. Fairhead’s guaranty was cancelled and ABC’s security interest was terminated.
New Accounting Standards	New Accounting Standards: 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, as amended by ASU 2019-04 and ASU 2019-05, 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 small reporting companies, ASU 2016-13 is effective for annual and interim reporting periods beginning after December 15, 2022, and the guidance is to be applied using the modified-retrospective approach. Earlier adoption is permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, “ Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ”, which provides optional expedients and exceptions for a period of time to ease the potential burden in accounting for the transition from reference rates that are expected to be discontinued. Regulators and market participants in various jurisdictions have undertaken efforts to eliminate certain reference rates and introduce new reference rates that are based on a larger and more liquid population of observable transactions. The amendments in this update apply only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. In January 2021, the FASB issued clarification on the scope of relief related to the reference rate reform. The Company is currently evaluating the impact of this guidance on its consolidated financial statements.

Inventories, Net (Tables)

Inventories, Net (Tables)	3 Months Ended
	Jul. 31, 2021
Inventories, Net [Abstract]
Components Of Inventory	July 31, April 30, 2021 2021 Finished products $ 24,443,995 $ 22,858,073 Work-in-process 6,975,389 5,601,560 Raw materials 84,138,114 72,033,278 115,557,498 100,492,911 Less excess and obsolescence reserve ( 2,414,310 ) ( 2,414,310 ) $ 113,143,188 $ 98,078,601

Earnings Per Share And Stockh_2

Earnings Per Share And Stockholders' Equity (Tables)	3 Months Ended
	Jul. 31, 2021
Earnings Per Share And Stockholders' Equity [Abstract]
Computation Of Basic And Diluted Earnings (Loss) Per Share	Three Months Ended July 31, July 31, 2021 2020 Net income (loss) $ 8,796,716 $ ( 900,666 ) Weighted-average shares Basic 4,275,410 4,250,986 Effect of dilutive stock options 78,502 - Diluted 4,353,912 4,250,986 Basic earnings (loss) per share $ 2.06 $ ( 0.21 ) Diluted earnings (loss) per share $ 2.02 $ ( 0.21 )

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Jul. 31, 2021
Long-Term Debt [Abstract]
Schedule Of Debt And Finance Lease Obligations	July 31, April 30, 2021 2021 Debt: Notes Payable - Banks $ 29,514,345 $ 32,137,919 Notes Payable - Buildings 6,818,398 6,937,763 Notes Payable - Equipment 3,661,776 3,923,639 Unamortized deferred financing costs ( 334,832 ) ( 353,438 ) Total debt 39,659,687 42,645,883 Less current maturities 2,144,470 7,862,058 Long-term debt $ 37,515,217 $ 34,783,825 Finance lease obligations $ 2,851,281 $ 2,636,134 Less current maturities 1,312,029 1,455,638 Total finance lease obligations, less current portion $ 1,539,252 $ 1,180,496
Aggregate Amount Of Debt, Net Deferred Financing Fees	Bank Building Equipment Total For the remaining 9 months of the fiscal year ending April 30: 2022 $ 660,970 $ 359,059 $ 775,680 $ 1,795,709 For the fiscal years ending April 30: 2023 - 481,085 825,854 1,306,939 2024 - 483,904 781,148 1,265,052 2025 - 486,890 837,710 1,324,600 2026 28,527,588 4,742,119 441,384 33,711,091 2027 - 60,068 - 60,068 Thereafter - 196,228 - 196,228 $ 29,188,558 $ 6,809,353 $ 3,661,776 $ 39,659,687

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	3 Months Ended
	Jul. 31, 2021
Significant Accounting Policies [Abstract]
Revenue Disaggregated By Principal End-User Markets	Three Months Ended July 31, July 31, Net trade sales by end-market 2021 2020 Industrial Electronics $ 47,244,892 $ 36,617,258 Consumer Electronics 32,603,876 21,168,239 Medical / Life Sciences 5,890,666 2,739,459 Total Net Trade Sales $ 85,739,434 $ 60,524,956

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jul. 31, 2021
Leases [Abstract]
Lease Assets And Liabilities Related To Balance Sheet Classification	July 31, April 30, Classification 2021 2021 Operating Leases: Right-of-use Assets Right-of-use operating lease assets $ 12,257,463 $ 13,015,986 Operating lease current liabilities Current portion of operating lease obligations 3,077,781 2,843,758 Operating lease noncurrent liabilities Operating lease obligations, less current portion 9,719,562 10,474,601 Finance Leases: Right-of-use Assets Property, machinery and equipment, net 5,616,959 5,843,068 Finance lease current liabilities Current portion of finance lease obligations 1,312,029 1,455,638 Finance lease noncurrent liabilities Finance lease obligations, less current portion 1,539,252 1,180,496
Components Of Lease Expense	Three Months Ended July 31, July 31, Classification 2021 2020 Operating Leases: Operating lease cost Operating expenses 591,358 373,696 Variable lease cost Operating expenses 97,354 78,347 Short term lease cost Operating expenses 1,800 1,350 Finance Leases: Amortization of right-of-use assets Operating expenses 594,103 419,693 Interest expense Interest expense 66,404 66,358 Total 1,351,019 939,444
Weighted Average Lease Term And Discount Rate	Three Months Ended July 31, July 31, 2021 2020 Operating Leases: Weighted average remaining lease term (months) 52.90 59.30 Weighted average discount rate 3.1 % 3.1 % Finance Leases: Weighted average remaining lease term (months) 23.98 24.43 Weighted average discount rate 8.2 % 7.6 %
Future Payments Due Under Operating and Finance Leases	Operating Leases Finance Leases For the remaining 9 months of the fiscal year ending April 30: 2022 $ 2,577,133 $ 1,252,099 For the fiscal years ending April 30: 2023 3,452,535 942,692 2024 2,975,364 612,106 2025 2,354,451 391,259 2026 1,867,550 - 2027 343,006 - Thereafter 150,252 - Total undiscounted lease payments 13,720,291 3,198,156 Present value discount, less interest 922,948 346,875 Lease liability $ 12,797,343 $ 2,851,281
Supplemental Cash Flow Information Related To Leases	Three Months Ended July 31, July 31, Other Information 2021 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from finance leases 66,404 66,358 Operating cash flows from operating leases 101,667 54,021 Financing cash flows from finance leases 494,730 549,758 Supplemental non-cash information on lease labilities arising from obtaining right-of-use assets: Right-of-use assets obtained in exchange for new finance lease liabilities 709,877 - Right-of-use assets obtained in exchange for operating lease liabilities - 334,530

Description Of The Business (Na

Description Of The Business (Narrative) (Details)	3 Months Ended
	Jul. 31, 2021segment
Description Of Business [Abstract]
Number of business segments as an independent provider of electronic manufacturing services	1

Basis Of Presentation (Narrativ

Basis Of Presentation (Narrative) (Details) - U.S. Bank [Member] - Paycheck Protection Program [Member] - USD ($)	3 Months Ended
	Jul. 31, 2021	Apr. 23, 2020
Basis Of Presentation [Line Items]
Loan		$ 6,282,973
Maturity date	Apr. 23, 2022
Forgiveness date	Jul. 9, 2021

Inventories, Net (Components Of

Inventories, Net (Components Of Inventory) (Details) - USD ($)	Jul. 31, 2021	Apr. 30, 2021
Inventories, Net [Abstract]
Finished products	$ 24,443,995	$ 22,858,073
Work-in-process	6,975,389	5,601,560
Raw materials	84,138,114	72,033,278
Total inventory, gross	115,557,498	100,492,911
Less excess and obsolescence reserve	(2,414,310)	(2,414,310)
Total inventory, net	$ 113,143,188	$ 98,078,601

Earnings Per Share And Stockh_3

Earnings Per Share And Stockholders' Equity (Narrative) (Details) - USD ($)	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Earnings Per Share And Stockholders' Equity [Abstract]
Options to purchase, common stock outstanding	513,232	513,232
Options granted	102,000	0
Stock option expense	$ 20,035	$ 0
Unrecognized compensation expense	$ 225,734	$ 0
Anti-dilutive common stock outstanding excluded from the calculation of diluted earnings per share	72,643	299,129

Earnings Per Share And Stockh_4

Earnings Per Share And Stockholders' Equity (Computation Of Basic And Diluted Earnings (Loss) Per Share) (Details) - USD ($)	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Earnings Per Share And Stockholders' Equity [Abstract]
Net income (loss)	$ 8,796,716	$ (900,666)
Weighted-average shares, Basic	4,275,410	4,250,986
Weighted-average shares, Effect of dilutive stock options	78,502
Diluted	4,353,912	4,250,986
Basic earnings (loss) per share	$ 2.06	$ (0.21)
Diluted earnings (loss) per share	$ 2.02	$ (0.21)

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details)	Jan. 29, 2021USD ($)	Jan. 28, 2021USD ($)	Mar. 03, 2020USD ($)	Dec. 21, 2017USD ($)	Jul. 31, 2021USD ($)	Jul. 31, 2020USD ($)	Apr. 30, 2021USD ($)	Apr. 30, 2020USD ($)	Apr. 23, 2020USD ($)	Mar. 15, 2019CNY (¥)	Apr. 30, 2018USD ($)
Debt Instrument [Line Items]
Payment under revolving line of credit					$ 89,462,832	$ 73,725,348
Repayment of mortgage agreement					$ 119,365	$ 80,416
Notes Payable - Buildings [Member] | Corporate Headquarters And Manufacturing Facility [Member]
Debt Instrument [Line Items]
Prepayment penalty							$ 120,842
Senior Secured Credit Facility [Member] | Notes Payable - Banks [Member]
Debt Instrument [Line Items]
Payment under revolving line of credit	$ 25,574,733
Unamortized deferred financing costs							158,476
U.S. Bank [Member] | Notes Payable - Buildings [Member] | Corporate Headquarters And Manufacturing Facility [Member]
Debt Instrument [Line Items]
Deferred financing costs							21,365				$ 74,066
Repayment of mortgage agreement	4,576,000
Mortgage agreement, amount				$ 5,200,000
Mortgage agreement, monthly principal payment				$ 17,333
Mortgage agreement, interest rate				4.00%
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							18,859				$ 65,381
Prepayment penalty							41,830
Mortgage agreement, amount				$ 1,800,000
Mortgage agreement, monthly principal payment				$ 6,000
Mortgage agreement, interest rate				4.00%
Mortgage agreement, payable period				51 months
Mortgage agreement, outstanding amount	1,584,000
U.S. Bank [Member] | Paycheck Protection Program [Member]
Debt Instrument [Line Items]
Loan									$ 6,282,973
Forgiveness date					Jul. 9, 2021
Maturity date					Apr. 23, 2022
U.S. Bank [Member] | Revolving Line Cap [Member] | Notes Payable - Banks [Member]
Debt Instrument [Line Items]
Credit facility		$ 45,000,000
Borrowing base percentage		80.00%
JPMorgan Chase Bank [Member] | Notes Payable - Buildings [Member] | Corporate Headquarters And Manufacturing Facility [Member]
Debt Instrument [Line Items]
Deferred financing costs							10,050
Unamortized amount					$ 9,045
Mortgage agreement, amount	6,500,000
Mortgage agreement, monthly principal payment	$ 36,111
Mortgage agreement, interest rate					2.50%
Mortgage agreement, payable period	60 months
Mortgage agreement, effective interest rate					2.75%
Mortgage agreement, final payment					$ 4,368,444
Mortgage agreement, maturity date					Jan. 29, 2026
Mortgage agreement, outstanding amount					$ 6,319,445		6,427,778
JPMorgan Chase Bank [Member] | Senior Secured Credit Facility [Member] | Notes Payable - Banks [Member]
Debt Instrument [Line Items]
Loan	$ 6,500,000
Variable interest rate					2.00%
Effective interest rate					2.25%
Outstanding balance under the credit facility					$ 28,853,375		24,967,668
Unused availability under the credit facility					$ 19,454,713		15,947,990
Percentage of the revolving commitment					10.00%
Deferred financing costs							361,734
Unamortized amount					$ 325,787		343,890
Maturity date	Jan. 29, 2026
The Bank And Trust SSB [Member] | Notes Payable - Buildings [Member] | Warehousing And Distribution Center [Member]
Debt Instrument [Line Items]
Mortgage agreement, amount			$ 556,000
Mortgage agreement, monthly principal payment			$ 6,103
Mortgage agreement, interest rate			5.75%
Mortgage agreement, payable period			120 months
Mortgage agreement, outstanding amount					$ 498,953			$ 509,985
FGI Equipment Finance LLC [Member] | Notes Payable - Equipment [Member]
Debt Instrument [Line Items]
Fixed interest rate					8.25%
Minimum [Member] | Finance Lease And Sales Leaseback Agreements [Member]
Debt Instrument [Line Items]
Fixed interest rate					3.75%
Quarterly installment payments under secured note agreements					$ 1,455
Minimum [Member] | Engencap Fin S.A. DE C.V. [Member] | Notes Payable - Equipment [Member]
Debt Instrument [Line Items]
Fixed interest rate					6.65%
Maturity date					Nov. 1, 2021
Quarterly installment payments under secured note agreements					$ 11,045
Minimum [Member] | FGI Equipment Finance LLC [Member] | Notes Payable - Equipment [Member]
Debt Instrument [Line Items]
Maturity date					Mar. 1, 2025
Quarterly installment payments under secured note agreements					$ 10,723
Maximum [Member] | Finance Lease And Sales Leaseback Agreements [Member]
Debt Instrument [Line Items]
Fixed interest rate					12.73%
Maturity date					Jan. 1, 2025
Quarterly installment payments under secured note agreements					$ 40,173
Maximum [Member] | JPMorgan Chase Bank [Member] | Senior Secured Credit Facility [Member] | Notes Payable - Banks [Member]
Debt Instrument [Line Items]
Credit facility	$ 50,000,000				$ 50,000,000
Maximum [Member] | Engencap Fin S.A. DE C.V. [Member] | Notes Payable - Equipment [Member]
Debt Instrument [Line Items]
Fixed interest rate					8.00%
Maturity date					May 1, 2023
Quarterly installment payments under secured note agreements					$ 37,941
Maximum [Member] | FGI Equipment Finance LLC [Member] | Notes Payable - Equipment [Member]
Debt Instrument [Line Items]
Maturity date					Apr. 1, 2026
Quarterly installment payments under secured note agreements					$ 69,439
SigmaTron Electronic Technology Co [Member] | China Construction Bank [Member] | Credit Facility [Member] | Notes Payable - Banks [Member]
Debt Instrument [Line Items]
Credit facility					$ 1,393,000					¥ 9,000,000
Fixed interest rate					3.85%
Outstanding balance under the credit facility					$ 660,970		$ 824,159
Maturity date					Jan. 6, 2022

Long-Term Debt (Schedule Of Deb

Long-Term Debt (Schedule Of Debt And Finance Lease Obligations) (Details) - USD ($)	Jul. 31, 2021	Apr. 30, 2021
Debt Instrument [Line Items]
Unamortized deferred financing costs	$ (334,832)	$ (353,438)
Total debt	39,659,687	42,645,883
Less current maturities	2,144,470	7,862,058
Long-term debt	37,515,217	34,783,825
Finance lease obligations	2,851,281	2,636,134
Less current maturities	1,312,029	1,455,638
Total finance lease obligations, less current portion	1,539,252	1,180,496
Notes Payable - Banks [Member]
Debt Instrument [Line Items]
Debt	29,514,345	32,137,919
Total debt	29,188,558
Notes Payable - Buildings [Member]
Debt Instrument [Line Items]
Debt	6,818,398	6,937,763
Total debt	6,809,353
Notes Payable - Equipment [Member]
Debt Instrument [Line Items]
Debt	3,661,776	$ 3,923,639
Total debt	$ 3,661,776

Long-Term Debt (Aggregate Amoun

Long-Term Debt (Aggregate Amount Of Debt, Net Deferred Financing Fees) (Details) - USD ($)	Jul. 31, 2021	Apr. 30, 2021
For the remaining 9 months of the fiscal year ending April 30: 2022	$ 1,795,709
For the fiscal years ending April 30:
2023	1,306,939
2024	1,265,052
2025	1,324,600
2026	33,711,091
2027	60,068
Thereafter	196,228
Total debt	39,659,687	$ 42,645,883
Notes Payable - Banks [Member]
For the remaining 9 months of the fiscal year ending April 30: 2022	660,970
For the fiscal years ending April 30:
2023
2024
2025
2026	28,527,588
2027
Thereafter
Total debt	29,188,558
Notes Payable - Buildings [Member]
For the remaining 9 months of the fiscal year ending April 30: 2022	359,059
For the fiscal years ending April 30:
2023	481,085
2024	483,904
2025	486,890
2026	4,742,119
2027	60,068
Thereafter	196,228
Total debt	6,809,353
Notes Payable - Equipment [Member]
For the remaining 9 months of the fiscal year ending April 30: 2022	775,680
For the fiscal years ending April 30:
2023	825,854
2024	781,148
2025	837,710
2026	441,384
2027
Thereafter
Total debt	$ 3,661,776

Income Tax (Narrative) (Details

Income Tax (Narrative) (Details) - USD ($)	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Apr. 23, 2020
Income Tax [Line Items]
Income tax expense (benefit)	$ 756,945	$ (220,834)
Effective tax rate	7.92%	19.69%
Cumulative earnings	$ 5,538,000
Paycheck Protection Program [Member] | U.S. Bank [Member]
Income Tax [Line Items]
Loan			$ 6,282,973
Forgiveness date	Jul. 9, 2021

Significant Accounting Polici_4

Significant Accounting Policies (Narrative) (Details) - USD ($)	Jun. 04, 2020	Nov. 30, 2020	Jul. 31, 2021	Apr. 30, 2021	Jan. 27, 2021	May 29, 2020
Critical Accounting Policies [Line Items]
Revenues recognized from performance obligations satisfied or partially satisfied			$ 0
Amounts allocated to performance obligations remain unsatisfied or partially unsatisfied			0
Valuation allowances			1,058,648	$ 1,138,736
Notes receivable			8,876,594	7,014,594
Other receivables			$ 243,980	184,507
New shares expects to issue	2,443,870
Secured Promissory Note [Member]
Critical Accounting Policies [Line Items]
Maturity date			Dec. 31, 2021
Interest rate						4.00%
Wagz [Member]
Critical Accounting Policies [Line Items]
Fair value of the common stock			$ 600,000	600,000
Wagz [Member] | Convertible Secured Promissory Note [Member]
Critical Accounting Policies [Line Items]
Convertible secured promissory note			1,905,712	1,249,966
Wagz [Member] | Convertible Secured Promissory Note [Member] | Maximum [Member]
Critical Accounting Policies [Line Items]
Convertible secured promissory note					$ 1,588,328	$ 4,052,478
Wagz [Member] | Secured Promissory Note [Member]
Critical Accounting Policies [Line Items]
Secured promissory note			$ 38,723	$ 308,329
Gary R. Fairhead [Member] | Wagz [Member]
Critical Accounting Policies [Line Items]
Loan		$ 250,000
Interest payment		$ 5,000
Maturity date		Dec. 10, 2020

Significant Accounting Polici_5

Significant Accounting Policies (Revenue Disaggregated By Principal End-User Markets) (Details) - USD ($)	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Disaggregation of Revenue [Line Items]
Total Net Trade Sales	$ 85,739,434	$ 60,524,956
Industrial Electronics [Member]
Disaggregation of Revenue [Line Items]
Total Net Trade Sales	47,244,892	36,617,258
Consumer Electronics [Member]
Disaggregation of Revenue [Line Items]
Total Net Trade Sales	32,603,876	21,168,239
Medical / Life Sciences [Member]
Disaggregation of Revenue [Line Items]
Total Net Trade Sales	$ 5,890,666	$ 2,739,459

Leases (Narratives) (Details)

Leases (Narratives) (Details)	Jul. 31, 2021
Minimum [Member]
Leases [Line Items]
Operating leases, term	1 year
Maximum [Member]
Leases [Line Items]
Operating leases, term	5 years

Leases (Lease Assets And Liabil

Leases (Lease Assets And Liabilities Related To Balance Sheet Classification) (Details) - USD ($)	Jul. 31, 2021	Apr. 30, 2021
Leases [Abstract]
Operating Leases: Right-of-use Assets	$ 12,257,463	$ 13,015,986
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Operating Leases: Right-of-use Assets	Operating Leases: Right-of-use Assets
Operating lease current liabilities	$ 3,077,781	$ 2,843,758
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Operating lease current liabilities	Operating lease current liabilities
Operating lease noncurrent liabilities	$ 9,719,562	$ 10,474,601
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Operating lease noncurrent liabilities	Operating lease noncurrent liabilities
Finance Leases: Right-of-use Assets	$ 5,616,959	$ 5,843,068
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property Plant And Equipment Net	Property Plant And Equipment Net
Finance lease current liabilities	$ 1,312,029	$ 1,455,638
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Finance lease current liabilities	Finance lease current liabilities
Finance lease noncurrent liabilities	$ 1,539,252	$ 1,180,496
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Finance lease noncurrent liabilities	Finance lease noncurrent liabilities

Leases (Components Of Lease Exp

Leases (Components Of Lease Expense) (Details) - USD ($)	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Leases [Abstract]
Operating lease cost	$ 591,358	$ 373,696
Variable lease cost	97,354	78,347
Short term lease cost	1,800	1,350
Amortization of right-of-use assets	594,103	419,693
Interest expense	66,404	66,358
Total	$ 1,351,019	$ 939,444

Leases (Weighted Average Lease

Leases (Weighted Average Lease Term And Discount Rate) (Details)	Jul. 31, 2021	Jul. 31, 2020
Leases [Abstract]
Operating Leases: Weighted average remaining lease term (months)	52 months 27 days	59 months 9 days
Operating Leases: Weighted average discount rate	3.10%	3.10%
Finance Leases: Weighted average remaining lease term (months)	23 months 29 days	24 months 13 days
Finance Leases: Weighted average discount rate	8.20%	7.60%

Leases (Future Payments Due Und

Leases (Future Payments Due Under Operating And Finance Leases) (Details) - USD ($)	Jul. 31, 2021	Apr. 30, 2021
Operating Leases
For the remaining 9 months of the fiscal year ending April 30: 2022	$ 2,577,133
For the fiscal year ending April 30: 2023	3,452,535
For the fiscal year ending April 30: 2024	2,975,364
For the fiscal year ending April 30: 2025	2,354,451
For the fiscal year ending April 30: 2026	1,867,550
For the fiscal year ending April 30: 2027	343,006
Thereafter	150,252
Total undiscounted lease payments	13,720,291
Present value discount, less interest	922,948
Lease liability	12,797,343
Finance Leases
For the remaining 9 months of the fiscal year ending April 30: 2022	1,252,099
For the fiscal year ending April 30: 2023	942,692
For the fiscal year ending April 30: 2024	612,106
For the fiscal year ending April 30: 2025	391,259
For the fiscal year ending April 30: 2026
For the fiscal year ending April 30: 2027
Thereafter
Total undiscounted lease payments	3,198,156
Present value discount, less interest	346,875
Lease liability	$ 2,851,281	$ 2,636,134

Leases (Supplemental Cash Flow

Leases (Supplemental Cash Flow Information Related To Leases) (Details) - USD ($)	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Leases [Abstract]
Operating cash flows from finance leases	$ 66,404	$ 66,358
Operating cash flows from operating leases	101,667	54,021
Financing cash flows from finance leases	494,730	549,758
Right-of-use assets obtained in exchange for new finance lease liabilities	709,877
Right-of-use assets obtained in exchange for operating lease liabilities		$ 334,530