SigmaTron International (SGMA) 10-Q 19 Sep 24 2025 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Jul. 31, 2024	Sep. 13, 2024
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	2025
Document Period End Date	Jul. 31, 2024
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		6,119,288
Amendment Flag	false
Entity Central Index Key	0000915358

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jul. 31, 2024	Apr. 30, 2024
Current assets:
Cash and cash equivalents	$ 5,303,318	$ 2,417,360
Accounts receivable, less allowance for credit losses of $7,814 and $59,466 at July 31, 2024 and April 30, 2024, respectively	35,724,814	32,043,985
Inventories, net	115,687,645	128,850,901
Prepaid expenses and other assets	1,674,022	1,886,701
Refundable and prepaid income taxes	771,535	1,716,372
VAT receivables	6,211,685	6,569,984
Other receivables	2,521,174	2,417,316
Total current assets	167,894,193	175,902,619
Property, machinery and equipment, net	32,497,960	33,755,078
Intangible assets, net	897,567	979,188
Deferred income taxes	8,752,870	4,432,210
Right-of-use assets	7,585,366	7,463,301
Other assets	1,213,762	1,261,579
Total other long-term assets	18,449,565	14,136,278
Total assets	218,841,718	223,793,975
Current liabilities:
Trade accounts payable	46,621,825	50,593,099
Customer deposits	9,182,867	10,738,596
Accrued wages	6,276,555	6,746,466
Accrued expenses	2,143,130	2,554,260
Income taxes payable	4,981,747	897,847
Deferred revenue	3,164,998	3,111,062
Current portion of long-term debt	67,785,664	66,244,227
Current portion of finance lease obligations	2,087,938	2,214,127
Current portion of operating lease obligations	3,171,681	2,789,107
Total current liabilities	145,416,405	145,888,791
Long-term debt, less current portion	2,957,603	3,339,160
Income taxes payable	153,983	294,993
Finance lease obligations, less current portion	2,660,504	3,147,447
Operating lease obligations, less current portion	4,693,774	4,958,247
Other long-term liabilities	105,182	93,084
Total long-term liabilities	10,571,046	11,832,931
Total liabilities	155,987,451	157,721,722
Commitments and contingencies
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, 6,119,288 shares issued and outstanding at July 31, 2024 and April 30, 2024	61,193	61,193
Capital in excess of par value	42,524,568	42,453,394
Retained earnings	20,268,506	23,557,666
Total stockholders' equity	62,854,267	66,072,253
Total liabilities and stockholders' equity	$ 218,841,718	$ 223,793,975

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Jul. 31, 2024	Apr. 30, 2024
Condensed Consolidated Balance Sheets [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 7,814	$ 59,466
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	6,119,288	6,119,288
Common stock, shares outstanding	6,119,288	6,119,288

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations - USD ($)	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Condensed Consolidated Statements Of Operations [Abstract]
Net sales	$ 84,776,978	$ 98,130,356
Cost of products sold	78,371,784	88,479,136
Gross profit	6,405,194	9,651,220
Selling and administrative expenses	6,623,866	6,842,805
Operating (loss) income	(218,672)	2,808,415
Other income		18,627
Interest expense, net	(2,268,275)	(2,719,078)
(Loss) income before income tax expense	(2,486,947)	107,964
Income tax (expense) benefit	(802,213)	154,135
Net (loss)/income	$ (3,289,160)	$ 262,099
(Loss) earnings per share - basic	$ (0.54)	$ 0.04
(Loss) earnings per share - diluted	$ (0.54)	$ 0.04
Weighted-average shares of common stock outstanding
Basic	6,119,288	6,091,288
Diluted	6,119,288	6,100,284

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, 2023		$ 60,634	$ 41,986,570	$ 26,043,823	$ 68,091,027
Recognition of stock-based compensation			184,817		184,817
Net (loss)/income				262,099	262,099
Balance at Jul. 31, 2023		60,634	42,171,387	26,305,922	68,537,943
Balance at Apr. 30, 2024		61,193	42,453,394	23,557,666	66,072,253
Recognition of stock-based compensation			71,174		71,174
Net (loss)/income				(3,289,160)	(3,289,160)
Balance at Jul. 31, 2024		$ 61,193	$ 42,524,568	$ 20,268,506	$ 62,854,267

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Cash Flows - USD ($)	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Cash flows from operating activities
Net (loss)/income	$ (3,289,160)	$ 262,099
Adjustments to reconcile net (loss) income to net cash provided by operating activities
Depreciation and amortization of property, machinery and equipment	1,424,092	1,496,034
Stock-based compensation	71,174	184,817
Provision for credit losses	51,652
Deferred income tax (benefit) expense	(4,320,660)	180,213
Amortization of intangible assets	81,621	83,415
Amortization of financing fees	120,644	116,745
Loss from disposal or sale of machinery and equipment	839	43,286
Changes in operating assets and liabilities
Accounts receivable	(3,732,481)	2,058,165
Inventories	13,163,256	7,092,926
Prepaid expenses and other assets	632,335	(611,805)
Right-of-use assets	(122,065)	801,201
Refundable and prepaid income taxes	944,837	368,218
Income taxes payable	3,942,890	(1,161,108)
Trade accounts payable	(3,971,274)	(10,241,474)
Customer deposits	(1,555,729)	9,717,955
Operating lease liabilities	118,101	(779,898)
Accrued expenses and wages	(986,341)	660,153
Deferred revenue	53,936	(2,520,928)
Net cash provided by operating activities	2,627,667	7,750,014
Cash flows from investing activities
Purchases of machinery and equipment	(167,813)	(621,929)
Net cash used in investing activities	(167,813)	(621,929)
Cash flows from financing activities
Proceeds under equipment notes		783,461
Payments under finance lease agreements	(613,132)	(428,105)
Payments under equipment notes	(383,600)	(278,250)
Payments under building notes payable	(13,103)	(12,372)
Payments under term loan agreement	(250,000)	(250,000)
Borrowings under revolving line of credit	87,317,346	103,905,204
Payments under revolving line of credit	(85,631,407)	(109,632,319)
Payments of debt financing costs		(379,942)
Net cash provided by (used in) financing activities	426,104	(6,292,323)
Change in cash and cash equivalents	2,885,958	835,762
Cash and cash equivalents at beginning of period	2,417,360	819,129
Cash and cash equivalents at end of period	5,303,318	1,654,891
Supplementary disclosures of cash flow information
Cash paid for interest	2,217,494	2,583,509
Cash paid for income taxes	383,245	434,038
Purchase of machinery and equipment financed under finance leases		1,032,351
Right-of-use assets obtained in exchange for operating lease liabilities	936,399	1,531
Financing of insurance policy	$ 117,398	$ 229,520

Description Of The Business

Description Of The Business	3 Months Ended
	Jul. 31, 2024
Description Of The Business [Abstract]
Description Of The Business	Note A - D escription of the Business SigmaTron International, Inc., its subsidiaries, foreign enterprises and international procurement office (collectively, “SigmaTron” or the “Company”) operates in one reportable segment as an independent provider of electronic manufacturing services (“EMS”). EMS includes printed circuit board assemblies, electro-mechanical subassemblies and completely assembled (box-build) electronic products. In connection with the production of assembled products, EMS 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; (6) assistance in obtaining product approval from governmental and other regulatory bodies and (7) compliance reporting. The Company’s primary secured credit agreements, being the Amended and Restated Credit Agreement dated as of July 18, 2022 (as amended, restated, supplemented or otherwise modified from time to time, the “JPM Credit Agreement”) by and among the Company, the other loan party thereto and JPMorgan Chase Bank, N.A, as lender (“JPM”), and the Credit Agreement dated as of July 18, 2022 (as amended, restated, supplemented or otherwise modified from time to time, the “Term Loan Agreement” and together with the JPM Credit Agreement, the “Credit Agreements”) by and among the Company, the financial institutions identified therein (the “TCW Lenders”) and TCW Asset Management Company LLC, as administrative agent for the TCW Lenders (in such capacity, the “Agent,” and collectively with the TCW Lenders and JPM, the “Lender Parties”) , contain financial covenants relating to (i) the Fixed Charge Coverage Ratio (as defined in the Credit Agreements), which is the ratio of the Company’s fixed payments on its indebtedness made during any fiscal period minus non-financed capital expenditures to EBITDA (as defined in the Credit Agreements) and (ii) the Total Debt to EBITDA Ratio (as defined in the Credit Agreements), which is the ratio of the Company’s borrowed money or letters of credit to EBITDA. As of August 19, 2024, the Company was not in compliance with the financial covenants under the Credit Agreements as follows: the Fixed Charge Coverage Ratio for each of the twelve month periods ending on April 30, 2024, May 31, 2024, June 30, 2024, and July 31, 2024 was less than 1.10 :1.00, the Total Debt to EBITDA Ratio for the twelve month period ending on April 30, 2024 was greater than 4.50 :1.00, and the Total Debt to EBITDA Ratio for the twelve month period ending on July 31, 2024 was greater than 4.25 :1.00 (collectively, the “2024 Covenant Defaults”). In addition, the Company received a delinquency notification letter from Nasdaq, dated August 16, 2024, indicating that the Company was not in compliance with the continued listing requirements of Nasdaq for failing to timely file the Company ’ s F o rm 10- K annual report for the fiscal year ended April 30, 2024. This notification also constituted a default under the Credit Agreements (collectively with the 2024 Covenant Defaults, the “2024 Defaults”). The Company had 60 days from the date of the Nasdaq delinquency notice, or until October 15, 2024, to file a plan with Nasdaq to regain compliance. On September 10, 2024, the Company received a notification letter from Nasdaq indicating that the Company had regained compliance with the applicable continued listing requirements based on the filing of the Company ’ s F o rm 10- K annual report for the fiscal year ended April 30, 2024. Due to the Covenant Defaults, the facilities under the Credit Agreements were classified as current liabilities on the Consolidated Balance Sheet at July 31, 2024 and April 30, 2024. On August 19, 2024 (the “Third Amendment Effective Date”), the Lender Parties waived the 2024 Defaults pursuant to (i) the Waiver and Amendment No. 3 to Credit Agreement (the “JPM Amendment”) between the Company and JPM, and (ii) the Waiver and Amendment No. 3 to Credit Note A - Description of the Business - Continued Agreement (the “TCW Amendment” and together with the JPM Amendment, the “2024 Amendments”) by and among the Company, the TCW Lenders, and the Agent. In consideration of the TCW Amendment, the Company and the Agent also entered into the Third Amendment Fee Letter to the TCW Credit Agreement (the “Fee Letter”) dated as of the Third Amendment Effective Date. The 2024 Amendments also amended the financial covenants and certain other terms of the Credit Agreements, including, among other things, that the Company will pursue and close a Replacement Transaction (as defined in the Credit Agreements) to pay the obligations under the Credit Agreements in full no later than September 30, 2025 unless the Company meets certain debt ratios for the twelve month period ending on August 31, 2025. See Waivers and Amendments No. 3 within Note E – Long-term Debt for more information. The Company is taking steps to reduce its debt and cost structure. Most recently, since the beginning of calendar year 2024, these actions include the sale of its Elgin, Illinois property and consolidation of the Elgin operations to the Elk Grove Village, Illinois headquarters, reduction of headcounts at various operations and corporate, and inventory reduction. At this time, it is expected that these results plus the amendments to the financial covenants and other provisions of the Credit Agreements that are included in the 2024 Amendments should poise the Company for compliance. At the same time, the Company continues to explore other strategic initiatives to further reduce its debt to enable it to continue to comply with increasingly stringent financial covenants. Delays or a failure to effectively reduce debt, including due to circumstances outside of our control, could have an adverse effect on our financial position and results of operations .

Basis Of Presentation

Basis Of Presentation	3 Months Ended
	Jul. 31, 2024
Basis Of Presentation [Abstract]
Basis Of Presentation	Note B - Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company, its 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., and Spitfire Controls (Cayman) Co. Ltd., wholly-owned foreign enterprises Wujiang SigmaTron Electronics Co. Ltd., and Wujiang SigmaTron Electronic Technology Co., Ltd., its international procurement office, SigmaTron International Inc. Taiwan Branch, and Wagz, Inc. (majority of business sold, effective as of April 1, 2023), 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 8 of Regulation S-X. The accompanying unaudited 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, 2024 are not necessarily indicative of the results that may be expected for the year ending April 30, 2025. The condensed consolidated balance sheet at April 30, 2024, was derived from audited annual financial statements but does not contain all of the footnote 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, 2024. Reclassifications Certain amounts recorded in the prior-period consolidated financial statements 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, 2024
Inventories, Net [Abstract]
Inventories, Net	Note C - Inventories, net The components of inventory consist of the following: July 31, April 30, 2024 2024 Finished products $ 18,882,906 $ 18,457,912 Work-in-process 4,325,983 4,492,609 Raw materials 94,635,445 108,224,069 117,844,334 131,174,590 Less obsolescence reserve (1) 2,156,689 2,323,689 $ 115,687,645 $ 128,850,901 (1) The obsolescence reserve primarily relates to raw materials.

Earnings Per Share And Stockhol

Earnings Per Share And Stockholders' Equity	3 Months Ended
	Jul. 31, 2024
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 (loss) earnings per share: Three Months Ended July 31, July 31, 2024 2023 Net (loss)/income $ ( 3,289,160 ) $ 262,099 Weighted-average shares Basic 6,119,288 6,091,288 Effect of dilutive stock options - 8,996 Diluted 6,119,288 6,100,284 Basic (loss)/earnings per share $ ( 0.54 ) $ 0.04 Diluted (loss)/earnings per share $ ( 0.54 ) $ 0.04 Options to purchase 691,331 and 602,081 shares of common stock were outstanding and exercisable at July 31, 2024 and 2023, respectively. There were no options granted during the three month period ended July 31, 2024 and 186,000 options granted for the three months ended July 31, 2023. There was $ 71,174 and $ 184,817 stock option expense recognized for the three month periods ended July 31, 2024 and 2023, respectively. The balance of unrecognized compensation expense related to the Company’s stock option plans at July 31, 2024 and 2023 was $ 248,321 and $ 530,502 , respectively. There were 120,861 anti-dilutive common stock equivalents and 379,493 anti-dilutive common stock equivalents for the three month periods ended July 31, 2024 and 2023, respectively, which have been excluded from the calculation of diluted earnings per share.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Jul. 31, 2024
Long-Term Debt [Abstract]
Long-Term Debt	Note E - Long-term Debt Debt and finance lease obligations consisted of the following at July 31, 2024 and April 30, 2024: July 31, April 30, 2024 2024 Debt: Notes Payable - Banks $ 67,537,959 $ 66,102,020 Notes Payable - Buildings 353,469 366,572 Notes Payable - Equipment 4,259,351 4,642,951 Unamortized deferred financing costs ( 1,407,512 ) ( 1,528,156 ) Total debt 70,743,267 69,583,387 Less current maturities* 67,785,664 66,244,227 Long-term debt $ 2,957,603 $ 3,339,160 Finance lease obligations $ 4,748,442 $ 5,361,574 Less current maturities 2,087,938 2,214,127 Total finance lease obligations, less current portion $ 2,660,504 $ 3,147,447 * Due to the Covenant Defaults, the facilities under the Credit Agreements were classified as current liabilities on the Consolidated Balance Sheet at July 31, 2024 and April 30, 2024. Notes Payable – Banks The Company’s primary secured credit agreements include the Amended and Restated Credit Agreement dated as of July 18, 2022 (as amended, restated, supplemented or otherwise modified from time to time, the “JPM Credit Agreement”) by and among the Company, the other loan party thereto and JPMorgan Chase Bank, N.A, as lender (“JPM”), which provides for a secured credit facility consisting of a revolving loan facility and, until July 2022, a term loan facility, and the Credit Agreement dated as of July 18, 2022 (as amended, restated, supplemented or otherwise modified from time to time, the “Term Loan Agreement” and together with the JPM Credit Agreement, the “Credit Agreements”) by and among the Company, the financial institutions identified therein (the “TCW Lenders”) and TCW Asset Management Company LLC, as administrative agent for the TCW Lenders (in such capacity, the “Agent,” and collectively with the TCW Lenders and JPM, the “Lender Parties”), which provides for a term loan facility . The Facility, as amended, allowed the Company to borrow on a revolving basis up to the lesser of (i) $ 70,000,000 or (ii) an amount equal to a percentage of the eligible receivable borrowing base plus a percentage of the inventory borrowing base minus any reserves established by Lender (the “Revolving Commitment”). The maturity date of the Facility is July 18, 2027. The Credit Agreements contain financial covenants relating to (i) the Fixed Charge Coverage Ratio (as defined in the Credit Agreements), which is the ratio of the Company’s fixed payments on its indebtedness made during any fiscal period minus non-financed capital expenditures to EBITDA (as defined in the Credit Agreements) and (ii) the Total Debt to EBITDA Ratio (as defined in the Credit Agreements), which is the ratio of the Company’s borrowed money or letters of credit to EBITDA. Note E - Long-term Debt - Continued In addition, the JPM Credit Agreement imposes a cash dominion period if there is an event of default or if availability is less than 10 % of the Revolving Commitment (as defined in the JPM Credit Agreement), and such requirement continues until there is no event of default and availability is greater than 10 % of the Revolving Commitment, in each case for 30 consecutive days. In connection with the entry into the JPM Credit Agreement, Lender and TCW, as administrative agent under the Term Loan Agreement, entered into the Intercreditor Agreement, dated July 18, 2022, and acknowledged by SigmaTron and Wagz (the “ICA”), to set forth and govern the lenders’ respective lien priorities, rights and remedies under the JPM Credit Agreement and the Term Loan Agreement. Th e facility under the JPM Credit Agreement is secured by: (a) a first priority security interest in SigmaTron’s (i) accounts receivable and inventory (excluding Term Priority Mexican Inventory (as defined in the ICA) and certain inventory in transit, (ii) deposit accounts, (iii) proceeds of business interruption insurance that constitute ABL BI Insurance Share (as defined in the ICA), (iv) certain other property, including payment intangibles, instruments, equipment, software and hardware and similar systems, books and records, to the extent related to the foregoing, and (v) all proceeds of the foregoing, in each case, now owned or hereafter acquired (collectively, the “ABL Priority Collateral”); and (b) a second priority security interest in Term Priority Collateral (as defined below) other than (i) real estate and (ii) the equity interests of SigmaTron’s foreign subsidiaries (unless such a pledge is requested by Lender). As of July 31, 2024, there was $ 30,284,657 outstanding and $ 16,087,627 of unused availability under the revolving loan facility compared to an outstanding balance of $ 28,598,719 and $ 13,443,766 of unused availability at April 30, 2024. As of July 31, 2024 and April 30, 2024, the unamortized deferred financing amount offset against outstanding debt was $ 545,875 and $ 592,664 , respectively. The Term Loan Agreement provides for a term loan from TCW to the Company in the principal amount of $ 40,000,000 (the “TCW Term Loan”). The TCW Term Loan bears i nterest at a rate per annum based on SOFR, plus the Applicable Margin of 7.50 % (each as defined in the Term Loan Agreement). The TCW Term Loan has a SOFR floor of 1.00 %. The maturity date of the TCW Term Loan is July 18, 2027 . The amount outstanding as of July 31, 2024, was $ 37,253,301 compared to an outstanding balance of $ 37,503,301 at April 30, 2024. As of July 31, 2024 and April 30, 2024, the unamortized deferred financing amount offset against outstanding debt was $ 861,637 and $ 935,492 , respectively. The TCW Term Loan is secured by: (a) a first priority security interest in all property of SigmaTron that does not constitute ABL Priority Collateral, which includes: (i) SigmaTron’s Elk Grove Village real estate, (ii) SigmaTron’s machinery, equipment and fixtures (but excluding ABL Priority Equipment (as defined in the ICA)) , (iii) the Term Priority Mexican Inventory (as defined in the ICA), (iv) SigmaTron’s stock in its direct and indirect subsidiaries, (v) SigmaTron’s general intangibles (excluding any that constitute ABL Priority Collateral), goodwill and intellectual property, (vi) the proceeds of business interruption insurance that constitute Term BI Insurance Share (as defined in the ICA) , (vii) tax refunds, and (viii) all proceeds thereof, in each case, now owned or hereafter acquired (collectively, the “Term Priority Collateral”); and (b) a second priority security interest in all collateral that constitutes ABL Priority Collateral. Also, SigmaTron’s three Mexican subsidiaries pledged all of their assets as security for the TCW Term Loan. The net proceeds received by the Company from the sale of the Elgin, Illinois, property in February, 2024, reduced the TCW Term Loan. Note E - Long-term Debt - Continued Waivers and Amendments No. 1 & 2 In March 2023, the Company received default notices from JPM and TCW due to non-compliance with certain financial covenants under their respective Credit Agreements, including the Fixed Charge Coverage Ratio and Total Debt to EBITDA Ratio. Additionally, the Company received a delinquency notification from Nasdaq for failing to timely file its Form 10-Q for the fiscal quarter ended January 31, 2023, which also constituted a default under the Credit Agreements. Consequently, the total debt balances were classified as current liabilities. On April 28, 2023, the Company entered into waivers with JPM and TCW, which waived certain events of default and amended terms of the Credit Agreements. These amendments included requirements to maintain a minimum of $ 2.5 million in revolver availability, modifications to the definition of EBITDA, and adjustments to the Total Debt to EBITDA Ratios. On June 15, 2023, the Company executed further amendments to extend the deadline for potential corporate restructuring to July 31, 2023. Waivers and Amendments No. 3 As of August 19, 2024, the Company was not in compliance with the financial covenants under the Credit Agreements as follows: the Fixed Charge Coverage Ratio for each of the twelve month periods ending on April 30, 2024, May 31, 2024, June 30, 2024, and July 31, 2024 was less than 1.10 :1.00, the Total Debt to EBITDA Ratio for the twelve month period ending on April 30, 2024 was greater than 4.50 :1.00, and the Total Debt to EBITDA Ratio for the twelve month period ending on July 31, 2024 was greater than 4.25 :1.00 (collectively, the “2024 Covenant Defaults”). Due to the Covenant Defaults, the facilities under the Credit Agreements were classified as current liabilities on the Consolidated Balance Sheet at July 31, 2024 and April 30, 2024. In addition, the Company received a delinquency notification letter from Nasdaq, dated August 16, 2024, indicating that the Company was not in compliance with the continued listing requirements of Nasdaq for failing to timely file the Company ’ s F o rm 10- K annual report for the fiscal year ended April 30, 2024. This notification also constituted a default under the Credit Agreements (collectively with the 2024 Covenant Defaults, the “2024 Defaults”). The Company had 60 days from the date of the Nasdaq delinquency notice, or until October 15, 2024, to file a plan with Nasdaq to regain compliance. On September 10, 2024, the Company received a notification letter from Nasdaq indicating that the Company had regained compliance with the applicable continued listing requirements based on the filing of the Company ’ s F o rm 10- K annual report for the fiscal year ended April 30, 2024. On August 19, 2024 (the “Third Amendment Effective Date”), the Lender Parties waived the 2024 Defaults pursuant to (i) the Waiver and Amendment No. 3 to Credit Agreement (the “JPM Amendment”) between the Company and JPM, and (ii) the Waiver and Amendment No. 3 to Credit Agreement (the “TCW Amendment” and together with the JPM Amendment, the “2024 Amendments”) by and among the Company, the TCW Lenders, and the Agent. In consideration of the TCW Amendment, the Company and the Agent also entered into the Third Amendment Fee Letter (the “Fee Letter”) dated as of the Third Amendment Effective Date. The 2024 Amendments provided for, among other things, a waiver of the Company’s noncompliance with the financial covenants relating to (i) the Fixed Charge Coverage Ratio (as defined in the Credit Agreements), and (ii) the Total Debt to EBITDA Ratio (as defined in the Credit Agreements), in each case as of the Third Amendment Effective Date. Note E - Long-term Debt - Continued The 2024 Amendments also amended other provisions of the Credit Agreements, including to: (i) modify the minimum ratios under the Fixed Charge Coverage Ratio to range from 0.70 :1.0 for the twelve months ending as of July 31, 2024, to 1.00 :1.0 for the twelve months ending as of September 30, 2025 and thereafter, measured monthly; (ii) adjust the maximum ratios under the Total Debt to EBITDA Ratio to range from 6.50 :1.0 for the twelve months ending as of July 31, 2024, to 3.50 :1.0 for the twelve months ending as of April 30, 2027, measured quarterly; (iii) modify the definition of EBITDA to allow for additional adjustments for certain transactions and charges; (iv) provide for the reimbursement of certain fees by the Company in connection with the Amendments or the transactions contemplated thereby; (v) increase the minimum required Availability (as defined in the JPM Credit Agreement) to $ 3.5 million starting on the Third Amendment Effective Date; (vi) provide that the Company must pursue and close a Replacement Transaction to pay the Obligations (as defined in the Credit Agreements) in full no later than September 30, 2025 unless the Company meets certain debt ratios for the twelve month period ending on August 31, 2025; and (vii) require the Company to engage a financial advisor if requested by the Agent after November 1, 2024. In addition, pursuant to the JPM Amendment, the parties agreed to reduce the Revolving Commitment (as defined in the JPM Credit Agreement) from $ 70 million to $ 55 million as of the Third Amendment Effective Date and pay to JPM certain amendment fees and certain additional fees if the Company does not meet certain financial milestones by the applicable measurement periods specified in the JPM Amendment. In addition, pursuant to the TCW Amendment the parties agreed to (i) amend the principal payment schedule under the TCW Term Loan to $ 250,000 per quarter; (ii) extend the PIK Period (as defined in the Term Loan Agreement) for three additional quarters beyond October 31, 2024 if the Total Debt to EBITDA Ratio exceeds a certain threshold as of certain dates; (iii) permit the Company to elect to pay on a quarterly basis in-kind a portion of the Baseline Applicable Margin (as defined in the Term Loan Agreement) per annum provided no default or event of default under the Term Loan Agreement has occurred; (iv) increase a portion of the Term Loan Borrowing Base (as defined in the Term Loan Agreement) based on the value of the Company’s real estate; (v) reduce the asset coverage pre-payment ratio under the TCW Term Loan to 90 % of the outstanding principal balance; and (vi) provide the Agent with the right to appoint a non-voting observer to attend regular meetings of the Company’s Board of Directors and any relevant committees. Also on August 19, 2024, and in connection with the TCW Amendment, the Company entered into the Fee Letter, which provides for a payment to the Agent of $ 395,000 added to the principal amount owed under the TCW Term Loan and for certain monthly ticking fees equal to a range of percentages of the outstanding principal amount under the TCW Term Loan, provided the Company does meet certain financial milestones by the applicable dates provided therein. In addition, pursuant to the Fee Letter, the Company has agreed to deliver to the Agent warrants to purchase shares of the Company’s common stock (the “Warrants”) in an amount equal to a percentage of the outstanding common stock of the Company on a fully diluted basis ranging from 1.25 % (as of December 1, 2024) to 17.5 % (as of September 1, 2025). The exercise price for the Warrants will be $ 0.01 per share and the Warrants would vest immediately upon issuance. All other material terms of the Credit Agreements, as amended by the Amendments, remain unchanged. Note E - Long-term Debt - Continued China Construction Bank On March 15, 2019, the Company’s wholly-owned foreign enterprise, Wujiang SigmaTron Electronic Technology Co., Ltd., entered into a credit facility with China Construction Bank. On January 26, 2021, the agreement was amended and expired in accordance with its terms on January 6, 2022 . On January 17, 2022, the agreement was renewed, and expired in accordance with its terms on December 23, 2022 . On February 17, 2023, the agreement was renewed, and expired in accordance with its terms on February 7, 2024 . On March 1, 2024, the agreement was renewed, and is scheduled to expire on February 1, 2025. Under the agreement Wujiang SigmaTron Electronic Technology Co., Ltd. can borrow up to 10,000,000 Renminbi, approximately $ 1,400,000 as of July 31, 2024, 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 3.15 % per annum. There was no outstanding balance under the facility at July 31, 2024 and April 30, 2024, respectively. Notes Payable – Buildings 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 Rate as published by The Wall Street Journal. The note is payable over a 120 month period. The outstanding balance was $ 353,469 and $ 366,572 at July 31, 2024 and April 30, 2024, respectively. Notes Payable – Equipment The Company routinely entered into secured note agreements with Engencap Fin S.A. DE C.V. to finance the purchase of equipment. The terms of the outstanding secured note agreement, which had a fixed interest rate of 8.00 % per annum, matured on May 1, 2023 , and the final quarterly installment payment of $ 9,310 was paid. The Company routinely enters into secured note agreements with FGI Equipment Finance LLC to finance the purchase of equipment. The terms of the outstanding secured note agreements mature from March 2025 through January 2029 , with quarterly installment payments ranging from $ 10,723 to $ 69,439 and a fixed interest rate ranging from 8.25 % to 12.00 % per annum. NOTE E- Long-term Debt - Continued Annual maturities of the Company’s debt, net of deferred financing fees for the remaining periods, as of July 31, 2024, are as follows: Bank Building Equipment Total For the remaining 9 months of the fiscal year ending April 30: 2025 $ 66,130,447 $ 40,454 $ 1,204,413 $ 67,375,314 For the fiscal years ending April 30: 2026 - 56,719 1,271,466 1,328,185 2027 - 60,068 774,489 834,557 2028 - 63,614 609,617 673,231 2029 - 67,370 399,366 466,736 2030 - 65,244 - 65,244 $ 66,130,447 $ 353,469 $ 4,259,351 $ 70,743,267 * Due to the Covenant Defaults, the facilities under the Credit Agreements were classified as current liabilities on the Consolidated Balance Sheet at July 31, 2024 and April 30, 2024. Finance Lease Obligations The Company enters into various finance lease agreements. The terms of the outstanding lease agreements mature through March 1, 2028 , with monthly installment payments ranging from $ 2,874 to $ 33,706 and a fixed interest rate ranging from 7.03 % to 12.09 % per annum.

Income Tax

Income Tax	3 Months Ended
	Jul. 31, 2024
Income Tax [Abstract]
Income Tax	Note F - Income Tax The income tax expense was $ 802,213 for the three month period ended July 31, 2024 compared to an income tax benefit of $ 154,135 for the same period in the prior fiscal year. The Company’s effective tax rate was ( 32.26 )% and ( 142.76 )% for the three month periods ended July 31, 2024 and 2023, respectively. The increase in income tax expense for the three month period ended July 31, 2024 compared to the same period in the previous year is due to variations in the forecasted tax rates and income earned by jurisdiction. The increase in effective tax rate is due to variations in income earned by jurisdiction. The Company recognizes a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion, or all, of a deferred tax asset will not be realized. SigmaTron expects to utilize its U.S. deferred tax assets with the exception of the capital loss on sale of Wagz and certain foreign tax credits. The Company previously maintained a valuation allowance on certain foreign loss carryforwards, however, all foreign tax loss carryforwards have been used as of April 30, 2024 and no related valuation allowance remains. The Company has established a valuation allowance of $ 7,302,639 on its U.S. capital loss and foreign tax credit carryforwards as of July 31, 2024. The Company continues to monitor the need for a valuation allowance on its deferred tax assets each quarter. If forecasted earnings are not achieved in future periods it is possible a valuation allowance on certain or all deferred tax assets may be required. 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 $ 14,036,000 as of July 31, 2024.

Commitments And Contingencies

Commitments And Contingencies	3 Months Ended
	Jul. 31, 2024
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 is 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, 2024
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 credit losses, 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 continued economic uncertainty due to persistent inflation and continuing global supply chain shortages and unpredictability may have a significant adverse impact on the timing of delivery of customer orders and the levels of future customer orders. Accounts Receivable - Accounts receivable is presented net of allowance for credit losses of $ 7,814 and $ 59,466 as of July 31, 2024 and April 30, 2024, respectively. The Company believes that its allowance for credit losses is adequate and represents its best estimate as of July 31, 2024. The Company continues to closely monitor customer liquidity along with industry and economic conditions, which may result in changes to its estimate. The following table presents the Company’s accounts receivable balance at the end of each period indicated: July 31, April 30, 2024 2024 Accounts receivable $ 35,732,628 $ 32,103,451 Less allowance for credit losses 7,814 59,466 $ 35,724,814 $ 32,043,985 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 2024 2023 Industrial Electronics $ 55,072,227 $ 67,875,530 Consumer Electronics 24,243,948 22,657,886 Medical / Life Sciences 5,460,803 7,596,940 Total Net Trade Sales $ 84,776,978 $ 98,130,356 During the three month period ended July 31, 2024, no material 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, 2024. The Company is electing not to disclose the amount of the remaining unsatisfied performance obligations with a duration of one year or less. The Company had no material remaining unsatisfied performance obligations as of July 31, 2024, with an expected duration of greater than one year. Contract liabilities consist of payments received in advance of the transfer of control to the customer. As products are delivered and control transfers, the Company recognizes the deferred revenue in net sales in the Consolidated Statements of Operations. The following table summarizes the deferred revenue associated with payments received in advance of the transfer of control to the customer reported as deferred revenue in the Consolidated Balance Sheets and amounts recognized through net sales for each period presented. Three Months Ended July 31, July 31, 2024 2023 Contract liability (deferred revenue) beginning of period $ 3,111,062 $ 8,063,197 Deferred revenue recognized in period ( 2,612,539 ) ( 4,996,715 ) Revenue deferred in period 2,666,475 2,475,787 Deferred revenue end of period $ 3,164,998 $ 5,542,269 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 Note H - Significant Accounting Policies - Continued 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 previously maintained a valuation allowance on certain foreign loss carryforwards; however, all foreign tax loss carryforwards have been used as of April 30, 2024 and no related valuation allowance remains. The Company has established a valuation allowance of $ 7,302,639 on its U.S. capital loss and foreign tax credit carryforwards as of July 31, 2024. The Company continues to monitor the need for a valuation allowance on its deferred tax assets each quarter. If forecasted earnings are not achieved in future periods it is possible a valuation allowance on certain or all deferred tax assets may be required. Impairment of Long-Lived Assets - The Company reviews long-lived assets, including amortizable intangible assets, for impairment in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 360: Property, Plant and Equipment . Property, machinery and equipment and finite life intangible assets are reviewed whenever events or changes in circumstances occur that indicate possible impairment. If events or changes in circumstances occur that indicate possible impairment, the Company first performs an impairment review based on an undiscounted cash flow analysis at the lowest level at which cash flows of the long-lived assets are largely independent of other groups of its assets and liabilities. This analysis requires management judgment with respect to changes in technology, the continued success of product lines, and future volume, revenue and expense growth rates. If the carrying value exceeds the undiscounted cash flows, the Company records an impairment, if any, for the difference between the estimated fair value of the asset group and its carrying value. The Company further conducts annual reviews of its long-lived asset groups for possible impairment. Note H - Significant Accounting Policies - Continued 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, that 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 smaller 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 adopted this ASU in the first quarter ended July 31, 2023 and it had no material impact on the consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, “ Income Taxes (Topic 740): Improvements to Income Tax Disclosures ”, which focuses on income tax disclosures around effective tax rates and cash income taxes paid. This ASU requires public business entities to disclose, on an annual basis, a rate reconciliation presented in both dollars and percentages. ASU 2023-09 also identifies specific categories that would require disclosure, including the following:  State and local income tax, net of federal income tax effect  Foreign tax effects  Effect of cross-border tax laws  Enactment of new tax laws  Nontaxable or nondeductible items  Tax credits  Changes in valuation allowances  Changes in unrecognized tax benefits This ASU also requires entities to disclose the amount of income taxes paid, net of refunds received, disaggregated by federal, state and foreign jurisdictions. ASU 2023-09 is effective for annual periods beginning after December 2024. The Company is currently evaluating the impact of this guidance on its consolidated financial statements.

Leases

Leases	3 Months Ended
	Jul. 31, 2024
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 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 it has the right to direct how and for what purpose the asset is used throughout the period of use and if it controls 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 includes 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 2024 2024 Operating Leases: Right-of-use Assets Right-of-use assets $ 7,585,366 $ 7,463,301 Operating lease current liabilities Current portion of operating lease obligations 3,171,681 2,789,107 Operating lease noncurrent liabilities Operating lease obligations, less current portion 4,693,774 4,958,247 Finance Leases: Right-of-use Assets Property, machinery and equipment 6,784,837 6,959,660 Finance lease current liabilities Current portion of finance lease obligations 2,087,938 2,214,127 Finance lease noncurrent liabilities Finance lease obligations, less current portion 2,660,504 3,147,447 The components of lease expense for the three month periods ended July 31, 2024 and 2023, are as follows: Three Months Three Months Ended Ended Expense July 31, July 31, Classification 2024 2023 Operating Leases: Operating lease cost Operating 928,834 895,469 Variable lease cost Operating 51,112 56,900 Short term lease cost Operating 2,850 2,250 Finance Leases: Amortization of right-of-use assets Operating 682,905 640,847 Interest expense Interest 131,878 119,686 Total 1,797,579 1,715,152 Note I – Leases – Continued The weighted average lease term and discount rates for the quarters ended July 31, 2024 and 2023, are as follows: July 31, July 31, 2024 2023 Operating Leases: Weighted average remaining lease term (months) 38.59 34.57 Weighted average discount rate 5.5 % 3.4 % Finance Leases: Weighted average remaining lease term (months) 29.96 32.51 Weighted average discount rate 10.3 % 9.8 % 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: 2025 $ 2,682,084 $ 1,912,983 For the fiscal years ending April 30: 2026 3,090,111 1,989,209 2027 971,166 1,161,407 2028 715,105 362,983 2029 729,407 - 2030 443,414 - Thereafter - - Total undiscounted lease payments 8,631,287 5,426,582 Present value discount, less interest 765,832 678,140 Lease liability $ 7,865,455 $ 4,748,442 Note I – Leases – Continued Supplemental disclosures of cash flow information related to leases for the three months ended July 31, 2024 and 2023 are as follows: Three Months Ended July 31, July 31, Other Information 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases 131,878 119,686 Operating cash flows from operating leases 109,363 61,121 Financing cash flows from finance leases 613,132 428,105 Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets: Right-of-use assets obtained in exchange for new finance lease liabilities - 1,032,351 Right-of-use assets obtained in exchange for operating lease liabilities 936,399 1,531

Intangible Assets

Intangible Assets	3 Months Ended
	Jul. 31, 2024
Intangible Assets [Abstract]
Intangible Assets	Note J – Intangible Assets Intangible assets subject to amortization are summarized as of July 31, 2024 as follows: July 31,2024 Gross Carrying Accumulated Net Intangible Amount Amortization Asset Balance Spitfire: Non-contractual customer relationship 4,690,000 3,792,433 897,567 Total $ 4,690,000 $ 3,792,433 $ 897,567 Note J – Intangible Assets - Continued Intangible assets subject to amortization are summarized as of April 30, 2024 as follows: April 30, 2024 Gross Carrying Accumulated Net Intangible Amount Amortization Asset Balance Spitfire: Non-contractual customer relationship 4,690,000 3,710,812 979,188 Total $ 4,690,000 $ 3,710,812 $ 979,188 Estimated aggregate amortization expense for the Company’s intangible assets, which become fully amortized in 2028 , for the remaining periods as of July 31, 2024, are as follows: For the remaining 9 months of the fiscal year ending April 30: 2025 $ 243,081 For the fiscal years ending April 30: 2026 317,728 2027 310,900 2028 25,858 $ 897,567 Amortization expense was $ 81,621 and $ 83,415 for the three month periods ended July 31, 2024 and July 31, 2023, respectively.

Significant Accounting Polici_2

Significant Accounting Policies (Policy)	3 Months Ended
	Jul. 31, 2024
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 credit losses, 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 continued economic uncertainty due to persistent inflation and continuing global supply chain shortages and unpredictability may have a significant adverse impact on the timing of delivery of customer orders and the levels of future customer orders.
Accounts Receivable	Accounts Receivable - Accounts receivable is presented net of allowance for credit losses of $ 7,814 and $ 59,466 as of July 31, 2024 and April 30, 2024, respectively. The Company believes that its allowance for credit losses is adequate and represents its best estimate as of July 31, 2024. The Company continues to closely monitor customer liquidity along with industry and economic conditions, which may result in changes to its estimate. The following table presents the Company’s accounts receivable balance at the end of each period indicated: July 31, April 30, 2024 2024 Accounts receivable $ 35,732,628 $ 32,103,451 Less allowance for credit losses 7,814 59,466 $ 35,724,814 $ 32,043,985
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 2024 2023 Industrial Electronics $ 55,072,227 $ 67,875,530 Consumer Electronics 24,243,948 22,657,886 Medical / Life Sciences 5,460,803 7,596,940 Total Net Trade Sales $ 84,776,978 $ 98,130,356 During the three month period ended July 31, 2024, no material 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, 2024. The Company is electing not to disclose the amount of the remaining unsatisfied performance obligations with a duration of one year or less. The Company had no material remaining unsatisfied performance obligations as of July 31, 2024, with an expected duration of greater than one year. Contract liabilities consist of payments received in advance of the transfer of control to the customer. As products are delivered and control transfers, the Company recognizes the deferred revenue in net sales in the Consolidated Statements of Operations. The following table summarizes the deferred revenue associated with payments received in advance of the transfer of control to the customer reported as deferred revenue in the Consolidated Balance Sheets and amounts recognized through net sales for each period presented. Three Months Ended July 31, July 31, 2024 2023 Contract liability (deferred revenue) beginning of period $ 3,111,062 $ 8,063,197 Deferred revenue recognized in period ( 2,612,539 ) ( 4,996,715 ) Revenue deferred in period 2,666,475 2,475,787 Deferred revenue end of period $ 3,164,998 $ 5,542,269
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 Note H - Significant Accounting Policies - Continued 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 previously maintained a valuation allowance on certain foreign loss carryforwards; however, all foreign tax loss carryforwards have been used as of April 30, 2024 and no related valuation allowance remains. The Company has established a valuation allowance of $ 7,302,639 on its U.S. capital loss and foreign tax credit carryforwards as of July 31, 2024. The Company continues to monitor the need for a valuation allowance on its deferred tax assets each quarter. If forecasted earnings are not achieved in future periods it is possible a valuation allowance on certain or all deferred tax assets may be required.
Impairment Of Long-Lived Assets	Impairment of Long-Lived Assets - The Company reviews long-lived assets, including amortizable intangible assets, for impairment in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 360: Property, Plant and Equipment . Property, machinery and equipment and finite life intangible assets are reviewed whenever events or changes in circumstances occur that indicate possible impairment. If events or changes in circumstances occur that indicate possible impairment, the Company first performs an impairment review based on an undiscounted cash flow analysis at the lowest level at which cash flows of the long-lived assets are largely independent of other groups of its assets and liabilities. This analysis requires management judgment with respect to changes in technology, the continued success of product lines, and future volume, revenue and expense growth rates. If the carrying value exceeds the undiscounted cash flows, the Company records an impairment, if any, for the difference between the estimated fair value of the asset group and its carrying value. The Company further conducts annual reviews of its long-lived asset groups for possible impairment.
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, that 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 smaller 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 adopted this ASU in the first quarter ended July 31, 2023 and it had no material impact on the consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, “ Income Taxes (Topic 740): Improvements to Income Tax Disclosures ”, which focuses on income tax disclosures around effective tax rates and cash income taxes paid. This ASU requires public business entities to disclose, on an annual basis, a rate reconciliation presented in both dollars and percentages. ASU 2023-09 also identifies specific categories that would require disclosure, including the following:  State and local income tax, net of federal income tax effect  Foreign tax effects  Effect of cross-border tax laws  Enactment of new tax laws  Nontaxable or nondeductible items  Tax credits  Changes in valuation allowances  Changes in unrecognized tax benefits This ASU also requires entities to disclose the amount of income taxes paid, net of refunds received, disaggregated by federal, state and foreign jurisdictions. ASU 2023-09 is effective for annual periods beginning after December 2024. 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, 2024
Inventories, Net [Abstract]
Components Of Inventory	July 31, April 30, 2024 2024 Finished products $ 18,882,906 $ 18,457,912 Work-in-process 4,325,983 4,492,609 Raw materials 94,635,445 108,224,069 117,844,334 131,174,590 Less obsolescence reserve (1) 2,156,689 2,323,689 $ 115,687,645 $ 128,850,901 (1) The obsolescence reserve primarily relates to raw materials.

Earnings Per Share And Stockh_2

Earnings Per Share And Stockholders' Equity (Tables)	3 Months Ended
	Jul. 31, 2024
Earnings Per Share And Stockholders' Equity [Abstract]
Computation Of Basic And Diluted Earnings Per Share	Three Months Ended July 31, July 31, 2024 2023 Net (loss)/income $ ( 3,289,160 ) $ 262,099 Weighted-average shares Basic 6,119,288 6,091,288 Effect of dilutive stock options - 8,996 Diluted 6,119,288 6,100,284 Basic (loss)/earnings per share $ ( 0.54 ) $ 0.04 Diluted (loss)/earnings per share $ ( 0.54 ) $ 0.04

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Jul. 31, 2024
Long-Term Debt [Abstract]
Schedule Of Debt And Finance Lease Obligations	July 31, April 30, 2024 2024 Debt: Notes Payable - Banks $ 67,537,959 $ 66,102,020 Notes Payable - Buildings 353,469 366,572 Notes Payable - Equipment 4,259,351 4,642,951 Unamortized deferred financing costs ( 1,407,512 ) ( 1,528,156 ) Total debt 70,743,267 69,583,387 Less current maturities* 67,785,664 66,244,227 Long-term debt $ 2,957,603 $ 3,339,160 Finance lease obligations $ 4,748,442 $ 5,361,574 Less current maturities 2,087,938 2,214,127 Total finance lease obligations, less current portion $ 2,660,504 $ 3,147,447 * Due to the Covenant Defaults, the facilities under the Credit Agreements were classified as current liabilities on the Consolidated Balance Sheet at July 31, 2024 and April 30, 2024.
Aggregate Amount Of Debt, Net Deferred Financing Fees	Bank Building Equipment Total For the remaining 9 months of the fiscal year ending April 30: 2025 $ 66,130,447 $ 40,454 $ 1,204,413 $ 67,375,314 For the fiscal years ending April 30: 2026 - 56,719 1,271,466 1,328,185 2027 - 60,068 774,489 834,557 2028 - 63,614 609,617 673,231 2029 - 67,370 399,366 466,736 2030 - 65,244 - 65,244 $ 66,130,447 $ 353,469 $ 4,259,351 $ 70,743,267 * Due to the Covenant Defaults, the facilities under the Credit Agreements were classified as current liabilities on the Consolidated Balance Sheet at July 31, 2024 and April 30, 2024.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	3 Months Ended
	Jul. 31, 2024
Significant Accounting Policies [Abstract]
Schedule Of Accounts Receivable	July 31, April 30, 2024 2024 Accounts receivable $ 35,732,628 $ 32,103,451 Less allowance for credit losses 7,814 59,466 $ 35,724,814 $ 32,043,985
Revenue Disaggregated By Principal End-User Markets	Three Months Ended July 31, July 31, Net trade sales by end-market 2024 2023 Industrial Electronics $ 55,072,227 $ 67,875,530 Consumer Electronics 24,243,948 22,657,886 Medical / Life Sciences 5,460,803 7,596,940 Total Net Trade Sales $ 84,776,978 $ 98,130,356
Summary Of Deferred Revenue	Three Months Ended July 31, July 31, 2024 2023 Contract liability (deferred revenue) beginning of period $ 3,111,062 $ 8,063,197 Deferred revenue recognized in period ( 2,612,539 ) ( 4,996,715 ) Revenue deferred in period 2,666,475 2,475,787 Deferred revenue end of period $ 3,164,998 $ 5,542,269

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jul. 31, 2024
Leases [Abstract]
Lease Assets And Liabilities Related To Balance Sheet Classification	July 31, April 30, Classification 2024 2024 Operating Leases: Right-of-use Assets Right-of-use assets $ 7,585,366 $ 7,463,301 Operating lease current liabilities Current portion of operating lease obligations 3,171,681 2,789,107 Operating lease noncurrent liabilities Operating lease obligations, less current portion 4,693,774 4,958,247 Finance Leases: Right-of-use Assets Property, machinery and equipment 6,784,837 6,959,660 Finance lease current liabilities Current portion of finance lease obligations 2,087,938 2,214,127 Finance lease noncurrent liabilities Finance lease obligations, less current portion 2,660,504 3,147,447
Components Of Lease Expense	Three Months Three Months Ended Ended Expense July 31, July 31, Classification 2024 2023 Operating Leases: Operating lease cost Operating 928,834 895,469 Variable lease cost Operating 51,112 56,900 Short term lease cost Operating 2,850 2,250 Finance Leases: Amortization of right-of-use assets Operating 682,905 640,847 Interest expense Interest 131,878 119,686 Total 1,797,579 1,715,152
Weighted Average Lease Term And Discount Rate	July 31, July 31, 2024 2023 Operating Leases: Weighted average remaining lease term (months) 38.59 34.57 Weighted average discount rate 5.5 % 3.4 % Finance Leases: Weighted average remaining lease term (months) 29.96 32.51 Weighted average discount rate 10.3 % 9.8 %
Future Payments Due Under Operating And Finance Leases	Operating Leases Finance Leases For the remaining 9 months of the fiscal year ending April 30: 2025 $ 2,682,084 $ 1,912,983 For the fiscal years ending April 30: 2026 3,090,111 1,989,209 2027 971,166 1,161,407 2028 715,105 362,983 2029 729,407 - 2030 443,414 - Thereafter - - Total undiscounted lease payments 8,631,287 5,426,582 Present value discount, less interest 765,832 678,140 Lease liability $ 7,865,455 $ 4,748,442
Supplemental Cash Flow Information Related To Leases	Three Months Ended July 31, July 31, Other Information 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases 131,878 119,686 Operating cash flows from operating leases 109,363 61,121 Financing cash flows from finance leases 613,132 428,105 Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets: Right-of-use assets obtained in exchange for new finance lease liabilities - 1,032,351 Right-of-use assets obtained in exchange for operating lease liabilities 936,399 1,531

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Jul. 31, 2024
Intangible Assets [Abstract]
Summary Of Intangible Assets Subject To Amortization	Intangible assets subject to amortization are summarized as of July 31, 2024 as follows: July 31,2024 Gross Carrying Accumulated Net Intangible Amount Amortization Asset Balance Spitfire: Non-contractual customer relationship 4,690,000 3,792,433 897,567 Total $ 4,690,000 $ 3,792,433 $ 897,567 Note J – Intangible Assets - Continued Intangible assets subject to amortization are summarized as of April 30, 2024 as follows: April 30, 2024 Gross Carrying Accumulated Net Intangible Amount Amortization Asset Balance Spitfire: Non-contractual customer relationship 4,690,000 3,710,812 979,188 Total $ 4,690,000 $ 3,710,812 $ 979,188
Estimated Aggregate Amortization Expense	For the remaining 9 months of the fiscal year ending April 30: 2025 $ 243,081 For the fiscal years ending April 30: 2026 317,728 2027 310,900 2028 25,858 $ 897,567

Description Of The Business (Na

Description Of The Business (Narrative) (Details)	3 Months Ended	12 Months Ended
	Jul. 31, 2024 item	Jul. 31, 2024	Jun. 30, 2024	May 31, 2024	Apr. 30, 2024
Schedule of Equity Method Investments [Line Items]
Number of reportable segments	1
Waiver And Amendment No. 3 [Member] | Minimum [Member] | JPMorgan Chase Bank [Member]
Schedule of Equity Method Investments [Line Items]
Total Debt to EBITDA Ratio		4.25			4.50
Waiver And Amendment No. 3 [Member] | Maximum [Member] | JPMorgan Chase Bank [Member]
Schedule of Equity Method Investments [Line Items]
Fixed charge coverage ratio		1.10	1.10	1.10	1.10

Inventories, Net (Components Of

Inventories, Net (Components Of Inventory) (Details) - USD ($)	Jul. 31, 2024	Apr. 30, 2024
Inventories, Net [Abstract]
Finished products	$ 18,882,906	$ 18,457,912
Work-in-process	4,325,983	4,492,609
Raw materials	94,635,445	108,224,069
Total inventory, gross	117,844,334	131,174,590
Less obsolescence reserve	2,156,689	2,323,689
Total inventory, net	$ 115,687,645	$ 128,850,901

Earnings Per Share And Stockh_3

Earnings Per Share And Stockholders' Equity (Narrative) (Details) - USD ($)	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Earnings Per Share And Stockholders' Equity [Abstract]
Options to purchase, common stock outstanding	691,331	602,081
Options granted	0	186,000
Stock option expense	$ 71,174	$ 184,817
Unrecognized compensation expense	$ 248,321	$ 530,502
Anti-dilutive common stock outstanding excluded from the calculation of diluted earnings per share	120,861	379,493

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
	Jul. 31, 2024	Jul. 31, 2023
Earnings Per Share And Stockholders' Equity [Abstract]
Net (loss)/income	$ (3,289,160)	$ 262,099
Weighted-average shares - Basic	6,119,288	6,091,288
Weighted-average shares - Effect of dilutive stock options		8,996
Diluted	6,119,288	6,100,284
Basic (loss)/earnings per share	$ (0.54)	$ 0.04
Diluted (loss)/earnings per share	$ (0.54)	$ 0.04

Long-Term Debt (Narrative-Notes

Long-Term Debt (Narrative-Notes Payable - Secured Banks) (Details)					3 Months Ended	12 Months Ended
	Aug. 19, 2024 USD ($) $ / shares	Feb. 17, 2023	Jan. 17, 2022	Jan. 26, 2021	Jul. 31, 2024 USD ($)	Jul. 31, 2024 USD ($)	Jun. 30, 2024	May 31, 2024	Apr. 30, 2024 USD ($)	Apr. 28, 2023 USD ($)	Jul. 18, 2022 USD ($)
Subsequent Event [Member] | Waiver And Amendment No. 3 [Member]
Debt Instrument [Line Items]
Warrants exercise price, per share | $ / shares	$ 0.01
TCW Term Loan [Member] | Subsequent Event [Member] | Waiver And Amendment No. 3 [Member]
Debt Instrument [Line Items]
Payment to the agent	$ 395,000
Asset coverage pre-payment ratio	90%
Principal payment per quarter	$ 250,000
TCW Term Loan [Member] | Notes Payable - Banks [Member]
Debt Instrument [Line Items]
Loan											$ 40,000,000
Outstanding balance under the credit facility					$ 37,253,301	$ 37,253,301			$ 37,503,301
TCW Term Loan [Member] | SOFR Rate [Member] | Notes Payable - Banks [Member]
Debt Instrument [Line Items]
Variable interest rate					7.50%
TCW Term Loan [Member] | SOFR Floor [Member] | Notes Payable - Banks [Member]
Debt Instrument [Line Items]
Variable interest rate					1%
Amended Facility [Member] | Notes Payable - Banks [Member]
Debt Instrument [Line Items]
Credit facility					$ 70,000,000	70,000,000
JPMorgan Chase Bank [Member]
Debt Instrument [Line Items]
Cash dominion period					30 days
JPMorgan Chase Bank [Member] | Waiver And Amendment No. 3 [Member]
Debt Instrument [Line Items]
Credit facility					$ 70,000,000	70,000,000
JPMorgan Chase Bank [Member] | Subsequent Event [Member] | Waiver And Amendment No. 3 [Member]
Debt Instrument [Line Items]
Credit facility	55,000,000
Unused availability under the credit facility	$ 3,500,000
JPMorgan Chase Bank [Member] | Cash dominion period [Member]
Debt Instrument [Line Items]
Percentage of the revolving commitment					10%
JPMorgan Chase Bank [Member] | Notes Payable - Banks [Member]
Debt Instrument [Line Items]
Unamortized deferred financing costs					$ 861,637	861,637			935,492
JPMorgan Chase Bank [Member] | TCW Term Loan [Member]
Debt Instrument [Line Items]
Maturity date					Jul. 18, 2027
JPMorgan Chase Bank [Member] | Amended Facility [Member] | Notes Payable - Banks [Member]
Debt Instrument [Line Items]
Outstanding balance under the credit facility					$ 30,284,657	30,284,657			28,598,719
Unused availability under the credit facility					16,087,627	16,087,627			13,443,766
Unamortized amount					$ 545,875	$ 545,875			$ 592,664
Minimum [Member] | Subsequent Event [Member] | Waiver And Amendment No. 3 [Member]
Debt Instrument [Line Items]
Percentage of outstanding common stock of fully diluted basis	1.25%
Minimum [Member] | JPM And TCW [Member] | Waiver And Amendments No. 1 & 2 [Member]
Debt Instrument [Line Items]
Credit facility										$ 2,500,000
Minimum [Member] | JPMorgan Chase Bank [Member] | Waiver And Amendment No. 3 [Member]
Debt Instrument [Line Items]
Total Debt to EBITDA Ratio						4.25			4.50
Minimum [Member] | JPMorgan Chase Bank [Member] | Subsequent Event [Member] | Waiver And Amendment No. 3 [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio	0.70
Total Debt to EBITDA Ratio	3.50
Minimum [Member] | JPMorgan Chase Bank [Member] | No event of default [Member]
Debt Instrument [Line Items]
Percentage of the revolving commitment					10%
Maximum [Member] | TCW Term Loan [Member] | Subsequent Event [Member] | Waiver And Amendment No. 3 [Member]
Debt Instrument [Line Items]
Percentage of outstanding common stock of fully diluted basis	17.50%
Maximum [Member] | JPMorgan Chase Bank [Member] | Waiver And Amendment No. 3 [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio						1.10	1.10	1.10	1.10
Maximum [Member] | JPMorgan Chase Bank [Member] | Subsequent Event [Member] | Waiver And Amendment No. 3 [Member]
Debt Instrument [Line Items]
Total Debt to EBITDA Ratio	6.50
Maximum [Member] | JPMorgan Chase Bank [Member] | Subsequent Event [Member] | Wagz Business Disposed [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio	1
Maximum [Member] | JPMorgan Chase Bank [Member] | FCCR trigger period [Member] | Waiver And Amendment No. 3 [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio					1.10
SigmaTron Electronic Technology Co [Member] | China Construction Bank [Member] | Notes Payable - Banks [Member]
Debt Instrument [Line Items]
Credit facility					$ 10,000,000	$ 10,000,000
Expiration date		Feb. 07, 2024	Dec. 23, 2022	Jan. 06, 2022
Fixed interest rate					3.15%	3.15%
Outstanding balance under the credit facility					$ 0	$ 0			$ 0
SigmaTron Electronic Technology Co [Member] | Maximum [Member] | China Construction Bank [Member] | Notes Payable - Banks [Member]
Debt Instrument [Line Items]
Credit facility					$ 1,400,000	$ 1,400,000

Long-Term Debt (Narrative-Not_2

Long-Term Debt (Narrative-Notes Payable - Buildings) (Details) - The Bank And Trust SSB [Member] - Warehousing And Distribution Center [Member] - Notes Payable - Buildings [Member] - USD ($)	Mar. 03, 2020	Jul. 31, 2024	Apr. 30, 2024
Debt Instrument [Line Items]
Mortgage agreement, amount	$ 556,000
Mortgage agreement, outstanding amount		$ 353,469	$ 366,572
Mortgage agreement, monthly principal payment	$ 6,103
Mortgage agreement, interest rate	5.75%
Variable interest rate	1%
Mortgage agreement, payable period	120 months

Long-Term Debt (Narrative-Not_3

Long-Term Debt (Narrative-Notes Payable - Equipment) (Details) - Notes Payable - Equipment [Member]	3 Months Ended
	Jul. 31, 2024 USD ($)
Engencap Fin S.A. DE C.V. [Member]
Debt Instrument [Line Items]
Maturity date	May 01, 2023
Minimum [Member] | FGI Equipment Finance LLC [Member]
Debt Instrument [Line Items]
Fixed interest rate	8.25%
Maturity date	Mar. 01, 2025
Quarterly installment payments under secured note agreements	$ 10,723
Maximum [Member] | Engencap Fin S.A. DE C.V. [Member]
Debt Instrument [Line Items]
Fixed interest rate	8%
Quarterly installment payments under secured note agreements	$ 9,310
Maximum [Member] | FGI Equipment Finance LLC [Member]
Debt Instrument [Line Items]
Fixed interest rate	12%
Maturity date	Jan. 01, 2029
Quarterly installment payments under secured note agreements	$ 69,439

Long-Term Debt (Narrative-Finan

Long-Term Debt (Narrative-Finance Lease Obligations) (Details) - Finance Lease Obligations [Member]	3 Months Ended
	Jul. 31, 2024 USD ($)
Debt Instrument [Line Items]
Maturity date	Mar. 01, 2028
Minimum [Member]
Debt Instrument [Line Items]
Quarterly installment payments under secured note agreements	$ 2,874
Interest rate	7.03%
Maximum [Member]
Debt Instrument [Line Items]
Quarterly installment payments under secured note agreements	$ 33,706
Interest rate	12.09%

Long-Term Debt (Schedule Of Deb

Long-Term Debt (Schedule Of Debt And Finance Lease Obligations) (Details) - USD ($)	Jul. 31, 2024	Apr. 30, 2024
Debt Instrument [Line Items]
Unamortized deferred financing costs	$ (1,407,512)	$ (1,528,156)
Total debt	70,743,267	69,583,387
Less current maturities	67,785,664	66,244,227
Long-term debt	2,957,603	3,339,160
Finance lease obligations	4,748,442	5,361,574
Less current maturities	2,087,938	2,214,127
Total finance lease obligations, less current portion	2,660,504	3,147,447
Notes Payable - Banks [Member]
Debt Instrument [Line Items]
Debt	67,537,959	66,102,020
Total debt	66,130,447
Notes Payable - Buildings [Member]
Debt Instrument [Line Items]
Debt	353,469	366,572
Total debt	353,469
Notes Payable - Equipment [Member]
Debt Instrument [Line Items]
Debt	4,259,351	$ 4,642,951
Total debt	$ 4,259,351

Long-Term Debt (Aggregate Amoun

Long-Term Debt (Aggregate Amount Of Debt, Net Deferred Financing Fees) (Details) - USD ($)	Jul. 31, 2024	Apr. 30, 2024
Debt Instrument [Line Items]
For the remaining 9 months of the fiscal year ending April 30 2025:	$ 67,375,314
For the fiscal years ending April 30:
2026	1,328,185
2027	834,557
2028	673,231
2029	466,736
2030	65,244
Total debt	70,743,267	$ 69,583,387
Notes Payable - Banks [Member]
Debt Instrument [Line Items]
For the remaining 9 months of the fiscal year ending April 30 2025:	66,130,447
For the fiscal years ending April 30:
2026
2027
2028
2029
2030
Total debt	66,130,447
Notes Payable - Buildings [Member]
Debt Instrument [Line Items]
For the remaining 9 months of the fiscal year ending April 30 2025:	40,454
For the fiscal years ending April 30:
2026	56,719
2027	60,068
2028	63,614
2029	67,370
2030	65,244
Total debt	353,469
Notes Payable - Equipment [Member]
Debt Instrument [Line Items]
For the remaining 9 months of the fiscal year ending April 30 2025:	1,204,413
For the fiscal years ending April 30:
2026	1,271,466
2027	774,489
2028	609,617
2029	399,366
2030
Total debt	$ 4,259,351

Income Tax (Narrative) (Details

Income Tax (Narrative) (Details) - USD ($)	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Apr. 30, 2024
Operating Loss Carryforwards [Line Items]
Effective tax rate	(32.26%)	(142.76%)
Valuation allowances	$ 7,302,639
Cumulative earnings	14,036,000
Income tax expense	802,213	$ (154,135)
Foreign [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, valuation allowance	$ 0		$ 0

Significant Accounting Polici_4

Significant Accounting Policies (Narrative) (Details) - USD ($)	3 Months Ended
	Jul. 31, 2024	Apr. 30, 2024
Critical Accounting Policies [Line Items]
Revenue recognized from performance obligations satisfied	$ 0
Amounts allocated to performance obligations remain unsatisfied or partially unsatisfied	0
Valuation allowances	7,302,639
Allowance for credit losses	7,814	$ 59,466
Foreign [Member]
Critical Accounting Policies [Line Items]
Operating loss carryforwards, valuation allowance	$ 0	$ 0

Significant Accounting Polici_5

Significant Accounting Policies (Schedule of Accounts Receivable) (Details) - USD ($)	Jul. 31, 2024	Apr. 30, 2024
Significant Accounting Policies [Abstract]
Accounts receivable	$ 35,732,628	$ 32,103,451
Less allowance for credit losses	7,814	59,466
Accounts receivable, Net	$ 35,724,814	$ 32,043,985

Significant Accounting Polici_6

Significant Accounting Policies (Revenue Disaggregated By Principal End-User Markets) (Details) - USD ($)	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Disaggregation of Revenue [Line Items]
Total Net Trade Sales	$ 84,776,978	$ 98,130,356
Industrial Electronics [Member]
Disaggregation of Revenue [Line Items]
Total Net Trade Sales	55,072,227	67,875,530
Consumer Electronics [Member]
Disaggregation of Revenue [Line Items]
Total Net Trade Sales	24,243,948	22,657,886
Medical / Life Sciences [Member]
Disaggregation of Revenue [Line Items]
Total Net Trade Sales	$ 5,460,803	$ 7,596,940

Significant Accounting Polici_7

Significant Accounting Policies (Summary Of Deferred Revenue) (Details) - USD ($)	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Significant Accounting Policies [Abstract]
Contract liability (deferred revenue) beginning of period	$ 3,111,062	$ 8,063,197
Deferred revenue recognized in period	(2,612,539)	(4,996,715)
Revenue deferred in period	2,666,475	2,475,787
Deferred revenue end of period	$ 3,164,998	$ 5,542,269

Leases (Narratives) (Details)

Leases (Narratives) (Details)	Jul. 31, 2024
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, 2024	Apr. 30, 2024
Leases [Abstract]
Operating Leases: Right-of-use Assets	$ 7,585,366	$ 7,463,301
Operating lease current liabilities	3,171,681	2,789,107
Operating lease noncurrent liabilities	4,693,774	4,958,247
Finance Leases: Right-of-use Assets	6,784,837	6,959,660
Finance lease current liabilities	2,087,938	2,214,127
Finance lease noncurrent liabilities	$ 2,660,504	$ 3,147,447

Leases (Components Of Lease Exp

Leases (Components Of Lease Expense) (Details) - USD ($)	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Leases [Abstract]
Operating lease cost	$ 928,834	$ 895,469
Variable lease cost	51,112	56,900
Short term lease cost	2,850	2,250
Amortization of right-of-use assets	682,905	640,847
Interest expense	131,878	119,686
Total	$ 1,797,579	$ 1,715,152

Leases (Weighted Average Lease

Leases (Weighted Average Lease Term And Discount Rate) (Details)	Jul. 31, 2024	Jan. 31, 2023
Leases [Abstract]
Operating Leases: Weighted average remaining lease term (months)	38 months 17 days	34 months 17 days
Operating Leases: Weighted average discount rate	5.50%	3.40%
Finance Leases: Weighted average remaining lease term (months)	29 months 29 days	32 months 15 days
Finance Leases: Weighted average discount rate	10.30%	9.80%

Leases (Future Payments Due Und

Leases (Future Payments Due Under Operating And Finance Leases) (Details) - USD ($)	Jul. 31, 2024	Apr. 30, 2024
Operating Leases
For the remaining 9 months of the fiscal year ending April 30 2025:	$ 2,682,084
For the fiscal year ending April 30: 2026	3,090,111
For the fiscal year ending April 30: 2027	971,166
For the fiscal year ending April 30: 2028	715,105
For the fiscal year ending April 30: 2029	729,407
For the fiscal year ending April 30: 2030	443,414
Total undiscounted lease payments	8,631,287
Present value discount, less interest	765,832
Lease liability	7,865,455
Finance Leases
For the remaining 9 months of the fiscal year ending April 30 2025:	1,912,983
For the fiscal year ending April 30: 2026	1,989,209
For the fiscal year ending April 30: 2027	1,161,407
For the fiscal year ending April 30: 2028	362,983
For the fiscal year ending April 30: 2029
For the fiscal year ending April 30: 2030
Thereafter
Total undiscounted lease payments	5,426,582
Present value discount, less interest	678,140
Lease liability	$ 4,748,442	$ 5,361,574

Leases (Supplemental Cash Flow

Leases (Supplemental Cash Flow Information Related To Leases) (Details) - USD ($)	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Leases [Abstract]
Operating cash flows from finance leases	$ 131,878	$ 119,686
Operating cash flows from operating leases	109,363	61,121
Financing cash flows from finance leases	613,132	428,105
Right-of-use assets obtained in exchange for new finance lease liabilities		1,032,351
Right-of-use assets obtained in exchange for operating lease liabilities	$ 936,399	$ 1,531

Intangible Assets (Narrative) (

Intangible Assets (Narrative) (Details) - USD ($)	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Intangible Assets [Abstract]
Amortization expense	$ 81,621	$ 83,415
Fully amortized year	2028

Intangible Assets (Summary Of I

Intangible Assets (Summary Of Intangible Assets Subject To Amortization) (Details) - USD ($)	Jul. 31, 2024	Apr. 30, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,690,000	$ 4,690,000
Accumulated Amortization	3,792,433	3,710,812
Net Intangible Asset Balance	897,567	979,188
Spitfire [Member] | Non-Contractual Customer Relationship [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,690,000	4,690,000
Accumulated Amortization	3,792,433	3,710,812
Net Intangible Asset Balance	$ 897,567	$ 979,188

Intangible Assets (Estimated Ag

Intangible Assets (Estimated Aggregate Amortization Expense) (Details) - USD ($)	Jul. 31, 2024	Apr. 30, 2024
Intangible Assets [Abstract]
For the remaining 9 months of the fiscal year ending April 30 2025:	$ 243,081
For the fiscal years ending April 30, 2026	317,728
For the fiscal years ending April 30, 2027	310,900
For the fiscal years ending April 30, 2028	25,858
Net Intangible Asset Balance	$ 897,567	$ 979,188