Daktronics (DAKT) 10-Q 3 Sep 15 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Aug. 01, 2015	Aug. 31, 2015
Entity Information [Line Items]
Entity Registrant Name	DAKTRONICS INC /SD/
Entity Central Index Key	915,779
Current Fiscal Year End Date	--04-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		43,769,661
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Aug. 1, 2015

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 01, 2015	May. 02, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 35,269	$ 57,284
Restricted cash	199	496
Marketable securities	25,329	25,346
Accounts receivable, net	82,754	80,857
Inventories, net	72,011	64,389
Costs and estimated earnings in excess of billings	37,816	35,068
Current maturities of long-term receivables	3,490	3,784
Prepaid expenses and other assets	6,451	6,663
Deferred income taxes	10,636	10,640
Income tax receivables	6,623	5,543
Total current assets	280,578	290,070
Long-term receivables, less current maturities	6,153	6,090
Goodwill	5,385	5,269
Intangibles, net	1,756	1,824
Investment in affiliates and other assets	2,637	2,680
Deferred income taxes	722	702
Total noncurrent assets	16,653	16,565
PROPERTY AND EQUIPMENT:
Land	2,139	2,147
Buildings	64,644	64,186
Machinery and equipment	84,663	80,664
Office furniture and equipment	15,845	15,823
Computer software and hardware	52,780	51,083
Equipment held for rental	803	803
Demonstration equipment	7,521	7,299
Transportation equipment	6,124	6,012
Property and equipment, gross	234,519	228,017
Less accumulated depreciation	158,575	155,173
Property and equipment, net	75,944	72,844
TOTAL ASSETS	373,175	379,479
CURRENT LIABILITIES:
Accounts payable	48,640	52,747
Accrued expenses	27,985	26,063
Warranty obligations	12,297	11,838
Billings in excess of costs and estimated earnings	17,186	23,797
Customer deposits (billed or collected)	18,734	16,828
Deferred revenue (billed or collected)	9,675	9,524
Current portion of other long-term obligations	508	587
Income taxes payable	389	636
Total current liabilities	135,414	142,020
Long-term warranty obligations	15,177	14,643
Long-term deferred revenue (billed or collected)	3,711	3,914
Other long-term obligations, less current maturities	2,807	3,190
Liability for Uncertain Tax Positions, Noncurrent	2,912	2,734
Deferred income taxes	933	939
Total long-term liabilities	25,540	25,420
TOTAL LIABILITIES	160,954	167,440
SHAREHOLDERS' EQUITY:
Common Stock, no par value, authorized 120,000,000 shares; 43,787,037 and 43,643,801 shares issued and outstanding at August 1, 2015 and May 2, 2015, respectively	49,523	48,960
Additional paid-in capital	33,455	32,693
Retained earnings	132,171	132,771
Treasury Stock, at cost, 19,680 shares	(9)	(9)
Accumulated other comprehensive loss	(2,919)	(2,376)
TOTAL SHAREHOLDERS' EQUITY	212,221	212,039
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 373,175	$ 379,479

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Aug. 01, 2015	May. 02, 2015
SHAREHOLDERS' EQUITY:
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, authorized (in shares)	120,000,000	120,000,000
Common stock, issued (in shares)	43,787,037	43,643,801
Treasury stock, at cost (in shares)	19,680	19,680

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Aug. 01, 2015	Aug. 02, 2014
Income Statement [Abstract]
Net sales	$ 150,221	$ 166,618
Cost of goods sold	114,720	123,215
Gross profit	35,501	43,403
Operating expenses:
Selling expense	14,264	15,046
General and administrative	8,170	7,937
Product design and development	6,968	6,803
Total operating expenses	29,402	29,786
Operating income	6,099	13,617
Nonoperating (expense) income:
Interest income	298	300
Interest expense	(62)	(68)
Other (expense) income, net	(443)	(172)
Income before income taxes	5,892	13,677
Income tax expense	2,116	4,932
Net income	$ 3,776	$ 8,745
Weighted average shares outstanding:
Basic (in shares)	43,797	43,261
Diluted (in shares)	44,073	43,641
Earnings per share:
Basic (in dollars per share)	$ 0.09	$ 0.20
Diluted (in dollars per share)	0.09	0.20
Cash dividend declared per share (in dollars per share)	$ 0.10	$ 0.10

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Aug. 01, 2015	Aug. 02, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 3,776	$ 8,745
Other comprehensive loss:
Cumulative translation adjustments	(558)	(137)
Unrealized gain (loss) on available-for-sale securities, net of tax	15	(7)
Total other comprehensive loss, net of tax	(543)	(144)
Comprehensive income	$ 3,233	$ 8,601

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Aug. 01, 2015	Aug. 02, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 3,776	$ 8,745
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	4,020	3,625
Amortization	35	91
Amortization of premium/discount on marketable securities	33	49
Gain on sale of property, equipment and other assets	(62)	(1,132)
Share-based compensation	751	767
Excess tax benefits from share-based compensation	(11)	(11)
Provision for doubtful accounts	160	94
Deferred income taxes, net	(21)	207
Change in operating assets and liabilities	(18,763)	12,026
Net cash (used in) provided by operating activities	(10,082)	24,461
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(7,232)	(8,146)
Proceeds from sale of property, equipment and other assets	66	3,509
Purchases of marketable securities	(9,506)	(1,522)
Proceeds from sales or maturities of marketable securities	9,497	1,389
Acquisitions, net of cash acquired	(614)	(570)
Net cash used in investing activities	(7,789)	(5,340)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on notes payable	(9)	0
Proceeds from exercise of stock options	562	187
Excess tax benefits from share-based compensation	11	11
Principal payments on long-term obligations	8	21
Dividends paid	(4,375)	(4,323)
Net cash used in financing activities	(3,819)	(4,146)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(325)	29
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(22,015)	15,004
CASH AND CASH EQUIVALENTS:
Beginning of period	57,284	45,054
End of period	35,269	60,058
Cash payments for:
Interest	126	151
Income taxes, net of refunds	3,215	4,420
Supplemental schedule of non-cash investing and financing activities:
Demonstration equipment transferred to inventory	4	26
Purchase of property and equipment included in accounts payable	883	2,327
Contributions of common stock under the employee stock purchase plan	$ 0	$ 813

Basis of Presentation and Summa

Basis of Presentation and Summary of Critical Accounting Policies	3 Months Ended
	Aug. 01, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Summary of Critical Accounting Policies	Note 1. Basis of Presentation and Summary of Critical Accounting Policies In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of normal recurring adjustments) necessary to fairly present our financial position, results of operations and cash flows for the periods presented. The preparation of financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions affecting the reported amounts therein. Due to the inherent uncertainty involved in making estimates, actual results in future periods may differ from those estimates. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The balance sheet at May 2, 2015 has been derived from the audited financial statements at that date, but it does not include all of the information and footnotes required by GAAP for complete financial statements. These financial statements should be read in conjunction with our financial statements and notes thereto for the year ended May 2, 2015 , which are contained in our Annual Report on Form 10-K previously filed with the Securities and Exchange Commission. The results of operations for the interim periods presented are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year. Daktronics, Inc. operates on a 52 to 53 week fiscal year, with our fiscal year ending on the Saturday closest to April 30 of each year. When April 30 falls on a Wednesday, the fiscal year ends on the preceding Saturday. Within each fiscal year, each quarter is comprised of 13 week periods following the beginning of each fiscal year. In each 53 week year, an additional week is added to the first quarter and each of the last three quarters is comprised of a 13 week period. Fiscal 2015 was a 53-week year; therefore, the three months ended August 1, 2015 contained operating results for 13 weeks while the three months ended August 2, 2014 contained operating results for 14 weeks. Certain reclassifications in the Consolidated Balance Sheets' categories of prepaid expenses and other assets and investment in affiliates and other assets have been made to conform fiscal 2015 to the fiscal 2016 classifications for comparative purposes. Recent Accounting Pronouncements In July 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2015-11, Simplifying the Measurement of Inventory , which changes the measurement principle of inventory from the lower of cost or market to lower of cost and net realizable value. The guidance will require prospective application at the beginning of our first quarter of fiscal 2018, but permits adoption in an earlier period. We are currently evaluating the effect that adopting this new accounting guidance will have on our consolidated results of operations, cash flows, and financial position. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which was issued as a new topic, Accounting Standards Codification ("ASC") 606. The new revenue recognition standard provides a five-step analysis of transactions to determine when and how revenue is recognized. The core principle of the guidance is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard will also result in enhanced disclosures about revenue, providing guidance for transactions that were not previously addressed comprehensively and improving guidance for multiple-element arrangements. The FASB recently announced plans to defer the effective adoption date for one year. ASU 2014-09 is effective for us beginning in fiscal 2019 and can be adopted by the Company either retrospectively or as a cumulative-effect adjustment as of the date of adoption. We are currently evaluating the effect that adopting ASU 2014-09 will have on our consolidated results of operations, cash flows, and financial position.

Earnings Per Share EPS

Earnings Per Share EPS	3 Months Ended
	Aug. 01, 2015
Earnings Per Share [Abstract]
Earnings Per Share EPS	Note 2. Earnings Per Share ("EPS") Basic EPS is computed by dividing income attributable to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution which may occur if securities or other obligations to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock which share in our earnings. The following is a reconciliation of the income and common share amounts used in the calculation of basic and diluted EPS for the three months ended August 1, 2015 and August 2, 2014 : Net income Shares Per share income For the three months ended August 1, 2015 Basic earnings per share $ 3,776 43,797 $ 0.09 Dilution associated with stock compensation plans — 276 — Diluted earnings per share $ 3,776 44,073 $ 0.09 For the three months ended August 2, 2014 Basic earnings per share $ 8,745 43,261 $ 0.20 Dilution associated with stock compensation plans — 380 — Diluted earnings per share $ 8,745 43,641 $ 0.20 Options outstanding to purchase 1,437 shares of common stock with a weighted average exercise price of $18.33 for the three months ended August 1, 2015 and 1,455 shares of common stock with a weighted average exercise price of $18.51 for the three months ended August 2, 2014 were not included in the computation of diluted earnings per share because the effects would be anti-dilutive.

Segment Disclosure

Segment Disclosure	3 Months Ended
	Aug. 01, 2015
Segment Reporting [Abstract]
Segment Disclosure	Note 3. Segment Disclosure We have organized our business into five segments which meet the definition of reportable segments under ASC 280-10, Segment Reporting : Commercial, Live Events, High School Park and Recreation, Transportation, and International. These segments are based on the type of customer or geography and are the same as our business units. Our Commercial business unit primarily consists of sales of our video display systems, digital billboards, and Galaxy ® and Fuelight ™ product lines to resellers (primarily sign companies), outdoor advertisers, national retailers, quick-serve restaurants, casinos and petroleum retailers. Our Live Events business unit primarily consists of sales of integrated scoring and video display systems to college and professional sports facilities and convention centers and sales of our mobile display technology to video rental organizations and other live events type venues. Our High School Park and Recreation business unit primarily consists of sales of scoring systems, Galaxy ® displays and video display systems to primary and secondary education facilities. Our Transportation business unit primarily consists of sales of our Vanguard ® and Galaxy ® product lines to governmental transportation departments, airlines and other transportation related customers. Our International business unit consists of sales of all product lines outside the United States and Canada. We focus on product lines that relate to integrated scoring and video display systems for sports and commercial applications, out-of-home advertising products, and European transportation related products. Segment reports present results through contribution margin, which is comprised of gross profit less selling costs. Segment profit excludes general and administration expense, product development expense, interest income and expense, non-operating income and income tax expense. Assets are not allocated to the segments. Depreciation and amortization are allocated to each segment based on various financial measures; however, some depreciation and amortization are corporate in nature and remain unallocated. In general, our segments follow the same accounting policies as those described in Note 1 of our Annual Report on Form 10-K for the fiscal year ended May 2, 2015 . Unabsorbed costs of domestic field sales and services infrastructure, including most field administrative staff, are allocated to the Commercial, Live Events, Transportation, and High School Park and Recreation business units based on cost of sales. Shared manufacturing, buildings and utilities, and procurement costs are allocated based on payroll dollars, square footage and various other financial measures. We do not maintain information on sales by products; therefore, disclosure of such information is not practical. The following table sets forth certain financial information for each of our five operating segments for the periods indicated: Three Months Ended August 1, August 2, Net sales: Commercial $ 43,210 $ 39,782 Live Events 47,922 75,674 High School Park and Recreation 18,959 20,111 Transportation 13,767 13,313 International 26,363 17,738 150,221 166,618 Contribution margin: Commercial 6,113 6,912 Live Events 6,183 12,047 High School Park and Recreation 3,775 5,158 Transportation 3,180 3,281 International 1,986 959 21,237 28,357 Non-allocated operating expenses: General and administrative 8,170 7,937 Product design and development 6,968 6,803 Operating income 6,099 13,617 Nonoperating (expense) income: Interest income 298 300 Interest expense (62 ) (68 ) Other (expense) income, net (443 ) (172 ) Income before income taxes 5,892 13,677 Income tax expense 2,116 4,932 Net income $ 3,776 $ 8,745 Depreciation and amortization: Commercial $ 1,257 $ 1,207 Live Events 1,321 1,147 High School Park and Recreation 490 453 Transportation 329 265 International 256 250 Unallocated corporate depreciation 402 394 $ 4,055 $ 3,716 No single geographic area comprises a material amount of net sales or property and equipment, net of accumulated depreciation other than the United States. The following table presents information about net sales and property and equipment, net of accumulated depreciation in the United States and elsewhere: Three Months Ended August 1, August 2, Net sales: United States $ 119,867 $ 141,830 Outside U.S. 30,354 24,788 $ 150,221 $ 166,618 August 1, May 2, Property and equipment, net of accumulated depreciation: United States $ 71,090 $ 67,882 Outside U.S. 4,854 4,962 $ 75,944 $ 72,844 We have numerous customers worldwide for sales of our products and services; therefore, we are not economically dependent on a limited number of customers for the sale of our products and services except with respect to our dependence on a few large digital billboard customers in our Commercial business unit.

Marketable Securities

Marketable Securities	3 Months Ended
	Aug. 01, 2015
Marketable Securities [Abstract]
Marketable Securities	Note 4. Marketable Securities We have a cash management program which provides for the investment of cash balances not used in current operations. We classify our investments in marketable securities as available-for-sale in accordance with the provisions of ASC 320, Investments – Debt and Equity Securities. Marketable securities classified as available-for-sale are reported at fair value with unrealized gains or losses, net of tax, reported in accumulated other comprehensive loss . As it relates to fixed income marketable securities, we do not intend to sell any of these investments, and it is not likely we will be required to sell any of these investments before recovery of the entire amortized cost basis. In addition, as of August 1, 2015 , we anticipate we will recover the entire amortized cost basis of such fixed income securities, and we have determined no other-than-temporary impairments associated with credit losses were required to be recognized. The cost of securities sold is based on the specific identification method. Where quoted market prices are not available, we use the market price of similar types of securities traded in the market to estimate fair value. As of August 1, 2015 and May 2, 2015 , our available-for-sale securities consisted of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value Balance as of August 1, 2015 Certificates of deposit $ 13,636 $ — $ — $ 13,636 U.S. Government securities 500 — — 500 U.S. Government sponsored entities 7,224 — (1 ) 7,223 Municipal obligations 3,967 3 — 3,970 $ 25,327 $ 3 $ (1 ) $ 25,329 Balance as of May 2, 2015 Certificates of deposit $ 11,409 $ — $ — $ 11,409 U.S. Government securities 1,000 1 — 1,001 U.S. Government sponsored entities 7,951 — (9 ) 7,942 Municipal obligations 4,989 5 — 4,994 $ 25,349 $ 6 $ (9 ) $ 25,346 Realized gains or losses on investments are recorded in our consolidated statements of operations as other (expense) income, net. Upon the sale of a security classified as available-for-sale, the security’s specific unrealized gain (loss) is reclassified out of " accumulated other comprehensive loss ” into earnings based on the specific identification method. In the three months ended August 1, 2015 and August 2, 2014 , the reclassifications from accumulated other comprehensive loss to earnings were immaterial. All available-for-sale securities are classified as current assets, as they are readily available to support our current operating needs. The contractual maturities of available-for-sale debt securities as of August 1, 2015 were as follows: Less than 12 months 1-5 Years Total Certificates of deposit $ 3,948 $ 9,688 $ 13,636 U.S. Government securities 500 — 500 U.S. Government sponsored agencies — 7,223 7,223 Municipal obligations 3,664 306 3,970 $ 8,112 $ 17,217 $ 25,329

Business Combination

Business Combination	3 Months Ended
	Aug. 01, 2015
Business Combinations [Abstract]
Business Combination	Note 5. Business Combination We acquired 100 percent ownership in Data Display, a European transportation display company, on August 11, 2014 for an undisclosed amount. The results of its operations have been included in our consolidated financial statements since the date of acquisition. We have not made pro forma disclosures because the results of its operations are not material to our consolidated financial statements. Data Display is a European based company focused on the design and manufacture of transportation displays. This acquisition allows our organization to better service transportation customers world-wide and broaden our leadership position on a global scale. This acquisition included a manufacturing plant in Ireland to manufacture transportation displays. This acquisition was funded with cash on hand. During the second quarter of fiscal 2015, we prepared the preliminary fair value measurements of assets acquired and liabilities assumed, as of the acquisition date using independent appraisals and other analysis. A final measurement was completed during the first quarter of fiscal 2016 and the fair value of consideration paid and contingent consideration were finalized. The following table summarizes the adjustments that were made to the original purchase price allocation: Purchase price allocation as originally reported Adjustments Reconciliation of assets and liabilities transferred Goodwill $ 1,099 $ 364 $ 1,463 Trademarks and Technology 480 — 480 Customer Relationships 84 — 84 Property and Equipment 1,433 — 1,433 Investment for Affiliates 437 — 437 Inventory 2,773 (149 ) 2,624 Accounts Receivable 3,380 (317 ) 3,063 Other Current Assets 1,869 23 1,892 Current Liabilities 3,616 79 3,695 Long-term Obligations 950 — 950

Sale of Theatre Rigging Manufac

Sale of Theatre Rigging Manufacturing (Notes)	3 Months Ended
	Aug. 01, 2015
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	Note 6. Sale of Theatre Rigging Manufacturing In July 2014, we sold our automated rigging systems business for theatre applications. Related to the sale, we recorded a $1,261 gain, which is included in cost of goods sold in the High School Park and Recreation business unit. As part of the transaction, we sold assets of $2,817 that primarily consisted of accounts receivable, patents, inventory, and manufacturing equipment, net of $355 of accounts payable.

Goodwill

Goodwill	3 Months Ended
	Aug. 01, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Note 7. Goodwill The changes in the carrying amount of goodwill related to each reportable segment for the three months ended August 1, 2015 were as follows: Live Events Commercial Transportation International Total Balance as of May 2, 2015 $ 2,321 $ 721 $ 91 $ 2,136 $ 5,269 Acquisition, net of cash required — — — 213 213 Foreign currency translation (30 ) (2 ) (29 ) (36 ) (97 ) Balance as of August 1, 2015 $ 2,291 $ 719 $ 62 $ 2,313 $ 5,385 We perform an analysis of goodwill on an annual basis. We performed our annual analysis based on the goodwill amount as of the first business day of our third quarter in fiscal 2015, which was November 2, 2014. The result of the analysis indicated no goodwill impairment existed as of that date.

Inventories

Inventories	3 Months Ended
	Aug. 01, 2015
Inventory Disclosure [Abstract]
Inventories	Note 8. Inventories Inventories consisted of the following: August 1, May 2, Raw materials $ 31,669 $ 28,325 Work-in-process 7,450 7,512 Finished goods 32,892 28,552 $ 72,011 $ 64,389

Receivables

Receivables	3 Months Ended
	Aug. 01, 2015
Receivables [Abstract]
Receivables	Note 9. Receivables Accounts receivable are reported net of an allowance for doubtful accounts of $2,477 and $2,316 at August 1, 2015 and May 2, 2015 , respectively. In connection with certain sales transactions, we have entered into sales contracts with installment payments exceeding six months and sales-type leases. The present value of these contracts and leases is recorded as a receivable as the revenue is recognized in accordance with United States GAAP, and profit is recognized to the extent the present value is in excess of cost. We generally retain a security interest in the equipment or in the cash flow generated by the equipment until the contract is paid. The present value of long-term contracts and lease receivables, including accrued interest and current maturities, was $9,643 and $9,874 as of August 1, 2015 and May 2, 2015 , respectively. Contract and lease receivables bearing annual interest rates of 4.8 to 10.0 percent are due in varying annual installments through August 2025. The face amount of long-term receivables was $11,012 as of August 1, 2015 and $10,976 as of May 2, 2015 . Included in accounts receivable as of August 1, 2015 and May 2, 2015 was $531 and $385 , respectively, of retainage on construction-type contracts, all of which is expected to be collected within one year.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Aug. 01, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 10. Commitments and Contingencies Litigation: We are a party to legal proceedings and claims which arise during the ordinary course of business. We review our legal proceedings and claims; regulatory reviews and inspections; and other legal matters on an ongoing basis and follow appropriate accounting guidance when making accrual and disclosure decisions. We establish accruals for those contingencies when the incurrence of a loss is probable and can be reasonably estimated, and we disclose the amount accrued and the amount of a reasonably possible loss in excess of the amount accrued, if such disclosure is necessary for our financial statements to not be misleading. We do not record an accrual when the likelihood of loss being incurred is probable, but the amount cannot be reasonably estimated, or when the loss is believed to be only reasonably possible or remote, although disclosures will be made for material matters as required by ASC 450-20, Loss Contingencies . Our assessment of whether a loss is reasonably possible or probable is based on our assessment and consultation with legal counsel regarding the ultimate outcome of the matter following all appeals. As of August 1, 2015 and May 2, 2015 we had $500 and $0 , respectively, accrued for contingent liabilities that management had determined to be probable and estimable. In the opinion of management, the ultimate liability of all unresolved legal proceedings is not expected to have a material effect on our financial position, liquidity or capital resources. Guarantees: In connection with the sale of equipment to various customers, we have entered into contractual arrangements whereby we agreed to repurchase equipment at the end of the lease term at a fixed price. Our total obligations under these fixed price arrangements were $1,100 as of August 1, 2015 and May 2, 2015 . In accordance with the provisions of ASC 460, Guarantees, there is no guarantee liability in accrued expenses that needed to be recognized in connection with these arrangements. Warranties: We offer a standard parts coverage warranty for periods varying from one to five years for most of our products. We also offer additional types of warranties to include on-site labor, routine maintenance and event support. In addition, the terms of warranties on some installations can vary from one to 10 years. The specific terms and conditions of these warranties vary primarily depending on the type of the product sold. We estimate the costs which may be incurred under the warranty obligations and record a liability in the amount of such estimated costs at the time the revenue is recognized. Factors affecting our estimate of the cost of our warranty obligations include historical experience and expectations of future conditions. We continually assess the adequacy of our recorded warranty reserves and, to the extent we experience any changes in warranty claim activity or costs associated with servicing those claims, our warranty obligation is adjusted accordingly. Changes in our warranty liability for the three months ended August 1, 2015 consisted of the following: Amount Beginning accrued warranty costs $ 26,481 Warranties issued during the period 3,344 Settlements made during the period (4,274 ) Changes in accrued warranty costs for pre-existing warranties during the period, including expirations 1,923 Ending accrued warranty costs $ 27,474 Performance guarantees: We have entered into standby letters of credit and surety bonds with financial institutions relating to the guarantee of our future performance on contracts, primarily construction type contracts. As of August 1, 2015 , we had outstanding letters of credit and surety bonds in the amount of $13,336 and $50,931 , respectively. Performance guarantees are issued to certain customers to guarantee the operation and installation of the equipment and our ability to complete a contract. These performance guarantees have various terms, which are generally one year. Leases: We lease vehicles, office space and various equipment for various sales and service locations throughout the world, including manufacturing space in the United States and China. Some of these leases, including the lease for manufacturing facilities in Sioux Falls, South Dakota, include provisions for extensions or purchase. The lease for the facilities in Sioux Falls, South Dakota can be extended for an additional three years past its current term, which ends December 31, 2016, and it contains an option to purchase the property subject to the lease from January 1, 2015 to December 31, 2016 for $8,400 , which approximates fair value. If the lease is extended, the purchase option increases to $8,600 for the year ending December 31, 2017 and $8,800 for the year ending December 31, 2018. Rental expense for operating leases was $640 and $696 for the three months ended August 1, 2015 and August 2, 2014 , respectively. Future minimum payments under noncancelable operating leases, excluding executory costs such as management and maintenance fees, with initial or remaining terms of one year or more consisted of the following at August 1, 2015 : Fiscal years ending Amount 2016 $ 2,000 2017 1,493 2018 443 2019 85 2020 38 $ 4,059 Purchase commitments: From time to time, we commit to purchase inventory, advertising, information technology maintenance and support services, and various other products and services over periods that extend beyond one year. As of August 1, 2015 , we were obligated under the following conditional and unconditional purchase commitments, which included $700 in conditional purchase commitments: Fiscal years ending Amount 2016 $ 1,791 2017 1,090 2018 295 2019 100 2020 — $ 3,276

Income Taxes

Income Taxes	3 Months Ended
	Aug. 01, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Note 11. Income Taxes We are subject to U.S. Federal income tax as well as the income taxes of multiple state jurisdictions. As a result of the completion of examinations by the Internal Revenue Service on prior years and the expiration of statutes of limitations, our fiscal years 2012, 2013, and 2014 are the remaining years open under statutes of limitations. Certain subsidiaries are also subject to income tax in several foreign jurisdictions which have open tax years varying by jurisdiction beginning in fiscal 2005. As of August 1, 2015 , we had $2,900 of unrecognized tax benefits which would affect our effective tax rate if recognized.

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Aug. 01, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurement	Note 12. Fair Value Measurement ASC 820, Fair Value Measurement, defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. It also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The fair value hierarchy within ASC 820 distinguishes between the following three levels of inputs which may be utilized when measuring fair value. Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Observable inputs other than quoted prices included within Level 1 for the assets or liabilities, either directly or indirectly (for example, quoted market prices for similar assets and liabilities in active markets or quoted market prices for identical assets or liabilities in markets not considered to be active, inputs other than quoted prices that are observable for the asset or liability, or market-corroborated input). Level 3 - Unobservable inputs supported by little or no market activity based on our own assumptions used to measure assets and liabilities. The fair values for fixed-rate contracts receivable are estimated using a discounted cash flow analysis based on interest rates currently being offered for contracts with similar terms to customers with similar credit quality. The carrying amounts reported on our consolidated balance sheets for contracts receivable approximate fair value and have been categorized as a Level 2 fair value measurement. Fair values for fixed-rate long-term marketing obligations are estimated using a discounted cash flow calculation applying interest rates currently being offered for debt with similar terms and underlying collateral. The total carrying value of long-term marketing obligations as reported on our consolidated balance sheets within other long-term obligations approximates fair value and has been categorized as a Level 2 fair value measurement. The following table sets forth by Level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis at August 1, 2015 and May 2, 2015 according to the valuation techniques we used to determine their fair values. There have been no transfers of assets or liabilities among the fair value hierarchies presented. Fair Value Measurements Level 1 Level 2 Total Balance as of August 1, 2015 Cash and cash equivalents $ 35,269 $ — $ 35,269 Restricted cash 199 — 199 Available-for-sale securities: Certificates of deposit — 13,636 13,636 U.S. Government securities 500 — 500 U.S. Government sponsored entities — 7,223 7,223 Municipal obligations — 3,970 3,970 Derivatives - currency forward contracts — 35 35 $ 35,968 $ 24,864 $ 60,832 Balance as of May 2, 2015 Cash and cash equivalents $ 57,284 $ — $ 57,284 Restricted cash 496 — 496 Available-for-sale securities: Certificates of deposit — 11,409 11,409 U.S. Government securities 1,001 — 1,001 U.S. Government sponsored entities — 7,942 7,942 Municipal obligations — 4,994 4,994 Derivatives - currency forward contracts — (283 ) (283 ) $ 58,781 $ 24,062 $ 82,843 The following methods and assumptions were used to estimate the fair value of each class of financial instrument. There have been no changes in the valuation techniques used by us to value our financial instruments. Cash and cash equivalents : Consists of cash on hand in bank deposits and highly liquid investments, primarily money market accounts. The fair value was measured using quoted market prices in active markets. The carrying amount approximates fair value. Restricted cash : Consists of cash and cash equivalents held in bank deposit accounts to secure issuances of foreign bank guarantees. The fair value of restricted cash was measured using quoted market prices in active markets. The carrying amount approximates fair value. Certificates of deposit : Consists of time deposit accounts with original maturities of less than three years and various yields. The fair value of these securities was measured based on valuations observed in less active markets than Level 1 investments from a third-party financial institution. The carrying amount approximates fair value. U.S. Government securities : Consists of U.S. Government treasury bills, notes, and bonds with original maturities of less than three years and various yields. The fair value of these securities was measured using quoted market prices in active markets. U.S. Government sponsored entities : Consists of Fannie Mae and Federal Home Loan Bank investment grade debt securities trading with sufficient frequency and volume to enable us to obtain pricing information on an ongoing basis. The fair value of these securities was measured based on valuations observed in less active markets than Level 1 investments. The contractual maturities of these investments vary from one month to three years. Municipal obligations : Consist of investment grade municipal bonds trading with sufficient frequency and volume to enable us to obtain pricing information on an ongoing basis. The contractual maturities of these investments vary from two to three years. The fair value of these bonds was measured based on valuations observed in less active markets than Level 1 investments. Derivatives – currency forward contracts : Consists of currency forward contracts trading with sufficient frequency and volume to enable us to obtain pricing information on an ongoing basis. The fair value of these securities was measured based on a valuation from a third-party bank. See Note 13. Derivative Financial Instruments for more information regarding our derivatives. The fair value measurement standard also applies to certain non-financial assets and liabilities measured at fair value on a nonrecurring basis. For example, certain long-lived assets such as goodwill, intangible assets and property, plant and equipment are measured at fair value in connection with business combinations or when an impairment is recognized and the related assets are written down to fair value. We utilized the fair value measurement standard, using primarily Level 3 inputs, to value the assets and liabilities for the business combination involving Data Display and the determination of goodwill associated with the sale of our automated rigging systems business for theatre applications. See Note 5. Business Combination s for more information. We did not make any material business combinations or recognize significant impairment losses during fiscal 2015 .

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Aug. 01, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Note 13. Derivative Financial Instruments We utilize derivative financial instruments to manage the economic impact of fluctuations in currency exchange rates on those transactions denominated in currencies other than our functional currency, which is the U.S. dollar. We enter into currency forward contracts to manage these economic risks. We account for all derivatives on the balance sheet within accounts receivable or accounts payable measured at fair value, and changes in fair values are recognized in earnings unless specific hedge accounting criteria are met for cash flow or net investment hedges. As of August 1, 2015 and May 2, 2015 , we had not designated any of our derivative instruments as accounting hedges, and thus we recorded the changes in fair value in other (expense) income, net. The foreign currency exchange contracts in aggregated notional amounts in place to exchange United States Dollars at August 1, 2015 and May 2, 2015 were as follows: August 1, 2015 May 2, 2015 U.S. Dollars Foreign U.S. Foreign Foreign Currency Exchange Forward Contracts: U.S. Dollars/Australian Dollars 3,628 4,800 1,487 1,918 U.S. Dollars/Japanese Yen 136 16,707 764 91,282 U.S. Dollars/Canadian Dollars 1,907 2,479 4,129 4,923 U.S. Dollars/British Pounds 1,961 1,285 1,679 1,123 U.S. Dollars/Singapore Dollars 1,002 1,369 1,176 1,601 U.S. Dollars/Euros (91 ) (54 ) (229 ) (174 ) U.S Dollars/Swiss Franc 4,636 4,500 5,662 5,500 As of August 1, 2015 and May 2, 2015 , there was a net asset and liability of $35 and $283 , respectively, representing the fair value of foreign currency exchange forward contracts, which were determined using Level 2 inputs from a third-party bank.

Subsequent Events

Subsequent Events	3 Months Ended
	Aug. 01, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 14. Subsequent Events On September 3, 2015 , our Board of Directors declared a dividend of $0.10 per share payable on September 25, 2015 to shareholders of record of our common stock on September 14, 2015 .

Basis of Presentation and Sum21

Basis of Presentation and Summary of Critical Accounting Policies (Policies)	3 Months Ended
	Aug. 01, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recently Issued Accounting Pronouncements	Recent Accounting Pronouncements In July 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2015-11, Simplifying the Measurement of Inventory , which changes the measurement principle of inventory from the lower of cost or market to lower of cost and net realizable value. The guidance will require prospective application at the beginning of our first quarter of fiscal 2018, but permits adoption in an earlier period. We are currently evaluating the effect that adopting this new accounting guidance will have on our consolidated results of operations, cash flows, and financial position. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which was issued as a new topic, Accounting Standards Codification ("ASC") 606. The new revenue recognition standard provides a five-step analysis of transactions to determine when and how revenue is recognized. The core principle of the guidance is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard will also result in enhanced disclosures about revenue, providing guidance for transactions that were not previously addressed comprehensively and improving guidance for multiple-element arrangements. The FASB recently announced plans to defer the effective adoption date for one year. ASU 2014-09 is effective for us beginning in fiscal 2019 and can be adopted by the Company either retrospectively or as a cumulative-effect adjustment as of the date of adoption. We are currently evaluating the effect that adopting ASU 2014-09 will have on our consolidated results of operations, cash flows, and financial position.

Earnings Per Share EPS (Tables)

Earnings Per Share EPS (Tables)	3 Months Ended
	Aug. 01, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Reconciliation	The following is a reconciliation of the income and common share amounts used in the calculation of basic and diluted EPS for the three months ended August 1, 2015 and August 2, 2014 : Net income Shares Per share income For the three months ended August 1, 2015 Basic earnings per share $ 3,776 43,797 $ 0.09 Dilution associated with stock compensation plans — 276 — Diluted earnings per share $ 3,776 44,073 $ 0.09 For the three months ended August 2, 2014 Basic earnings per share $ 8,745 43,261 $ 0.20 Dilution associated with stock compensation plans — 380 — Diluted earnings per share $ 8,745 43,641 $ 0.20

Segment Disclosure (Tables)

Segment Disclosure (Tables)	3 Months Ended
	Aug. 01, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table sets forth certain financial information for each of our five operating segments for the periods indicated: Three Months Ended August 1, August 2, Net sales: Commercial $ 43,210 $ 39,782 Live Events 47,922 75,674 High School Park and Recreation 18,959 20,111 Transportation 13,767 13,313 International 26,363 17,738 150,221 166,618 Contribution margin: Commercial 6,113 6,912 Live Events 6,183 12,047 High School Park and Recreation 3,775 5,158 Transportation 3,180 3,281 International 1,986 959 21,237 28,357 Non-allocated operating expenses: General and administrative 8,170 7,937 Product design and development 6,968 6,803 Operating income 6,099 13,617 Nonoperating (expense) income: Interest income 298 300 Interest expense (62 ) (68 ) Other (expense) income, net (443 ) (172 ) Income before income taxes 5,892 13,677 Income tax expense 2,116 4,932 Net income $ 3,776 $ 8,745 Depreciation and amortization: Commercial $ 1,257 $ 1,207 Live Events 1,321 1,147 High School Park and Recreation 490 453 Transportation 329 265 International 256 250 Unallocated corporate depreciation 402 394 $ 4,055 $ 3,716
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	The following table presents information about net sales and property and equipment, net of accumulated depreciation in the United States and elsewhere: Three Months Ended August 1, August 2, Net sales: United States $ 119,867 $ 141,830 Outside U.S. 30,354 24,788 $ 150,221 $ 166,618 August 1, May 2, Property and equipment, net of accumulated depreciation: United States $ 71,090 $ 67,882 Outside U.S. 4,854 4,962 $ 75,944 $ 72,844

Marketable Securities (Tables)

Marketable Securities (Tables)	3 Months Ended
	Aug. 01, 2015
Marketable Securities [Abstract]
Available-for-sale Securities	As of August 1, 2015 and May 2, 2015 , our available-for-sale securities consisted of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value Balance as of August 1, 2015 Certificates of deposit $ 13,636 $ — $ — $ 13,636 U.S. Government securities 500 — — 500 U.S. Government sponsored entities 7,224 — (1 ) 7,223 Municipal obligations 3,967 3 — 3,970 $ 25,327 $ 3 $ (1 ) $ 25,329 Balance as of May 2, 2015 Certificates of deposit $ 11,409 $ — $ — $ 11,409 U.S. Government securities 1,000 1 — 1,001 U.S. Government sponsored entities 7,951 — (9 ) 7,942 Municipal obligations 4,989 5 — 4,994 $ 25,349 $ 6 $ (9 ) $ 25,346
Investments Classified by Contractual Maturity Date	All available-for-sale securities are classified as current assets, as they are readily available to support our current operating needs. The contractual maturities of available-for-sale debt securities as of August 1, 2015 were as follows: Less than 12 months 1-5 Years Total Certificates of deposit $ 3,948 $ 9,688 $ 13,636 U.S. Government securities 500 — 500 U.S. Government sponsored agencies — 7,223 7,223 Municipal obligations 3,664 306 3,970 $ 8,112 $ 17,217 $ 25,329

Business Combination (Tables)

Business Combination (Tables)	3 Months Ended
	Aug. 01, 2015
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The following table summarizes the adjustments that were made to the original purchase price allocation: Purchase price allocation as originally reported Adjustments Reconciliation of assets and liabilities transferred Goodwill $ 1,099 $ 364 $ 1,463 Trademarks and Technology 480 — 480 Customer Relationships 84 — 84 Property and Equipment 1,433 — 1,433 Investment for Affiliates 437 — 437 Inventory 2,773 (149 ) 2,624 Accounts Receivable 3,380 (317 ) 3,063 Other Current Assets 1,869 23 1,892 Current Liabilities 3,616 79 3,695 Long-term Obligations 950 — 950

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Aug. 01, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill related to each reportable segment for the three months ended August 1, 2015 were as follows: Live Events Commercial Transportation International Total Balance as of May 2, 2015 $ 2,321 $ 721 $ 91 $ 2,136 $ 5,269 Acquisition, net of cash required — — — 213 213 Foreign currency translation (30 ) (2 ) (29 ) (36 ) (97 ) Balance as of August 1, 2015 $ 2,291 $ 719 $ 62 $ 2,313 $ 5,385

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Aug. 01, 2015
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following: August 1, May 2, Raw materials $ 31,669 $ 28,325 Work-in-process 7,450 7,512 Finished goods 32,892 28,552 $ 72,011 $ 64,389

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Aug. 01, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	Changes in our warranty liability for the three months ended August 1, 2015 consisted of the following: Amount Beginning accrued warranty costs $ 26,481 Warranties issued during the period 3,344 Settlements made during the period (4,274 ) Changes in accrued warranty costs for pre-existing warranties during the period, including expirations 1,923 Ending accrued warranty costs $ 27,474
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum payments under noncancelable operating leases, excluding executory costs such as management and maintenance fees, with initial or remaining terms of one year or more consisted of the following at August 1, 2015 : Fiscal years ending Amount 2016 $ 2,000 2017 1,493 2018 443 2019 85 2020 38 $ 4,059
Long-term Purchase Commitment	As of August 1, 2015 , we were obligated under the following conditional and unconditional purchase commitments, which included $700 in conditional purchase commitments: Fiscal years ending Amount 2016 $ 1,791 2017 1,090 2018 295 2019 100 2020 — $ 3,276

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Aug. 01, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value	The following table sets forth by Level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis at August 1, 2015 and May 2, 2015 according to the valuation techniques we used to determine their fair values. There have been no transfers of assets or liabilities among the fair value hierarchies presented. Fair Value Measurements Level 1 Level 2 Total Balance as of August 1, 2015 Cash and cash equivalents $ 35,269 $ — $ 35,269 Restricted cash 199 — 199 Available-for-sale securities: Certificates of deposit — 13,636 13,636 U.S. Government securities 500 — 500 U.S. Government sponsored entities — 7,223 7,223 Municipal obligations — 3,970 3,970 Derivatives - currency forward contracts — 35 35 $ 35,968 $ 24,864 $ 60,832 Balance as of May 2, 2015 Cash and cash equivalents $ 57,284 $ — $ 57,284 Restricted cash 496 — 496 Available-for-sale securities: Certificates of deposit — 11,409 11,409 U.S. Government securities 1,001 — 1,001 U.S. Government sponsored entities — 7,942 7,942 Municipal obligations — 4,994 4,994 Derivatives - currency forward contracts — (283 ) (283 ) $ 58,781 $ 24,062 $ 82,843

Derivative Financial Instrume30

Derivative Financial Instruments (Tables)	3 Months Ended
	Aug. 01, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions	The foreign currency exchange contracts in aggregated notional amounts in place to exchange United States Dollars at August 1, 2015 and May 2, 2015 were as follows: August 1, 2015 May 2, 2015 U.S. Dollars Foreign U.S. Foreign Foreign Currency Exchange Forward Contracts: U.S. Dollars/Australian Dollars 3,628 4,800 1,487 1,918 U.S. Dollars/Japanese Yen 136 16,707 764 91,282 U.S. Dollars/Canadian Dollars 1,907 2,479 4,129 4,923 U.S. Dollars/British Pounds 1,961 1,285 1,679 1,123 U.S. Dollars/Singapore Dollars 1,002 1,369 1,176 1,601 U.S. Dollars/Euros (91 ) (54 ) (229 ) (174 ) U.S Dollars/Swiss Franc 4,636 4,500 5,662 5,500

Earnings Per Share EPS - Reconc

Earnings Per Share EPS - Reconciliation of Income (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Aug. 01, 2015	Aug. 02, 2014
Net income
Basic earnings per share	$ 3,776	$ 8,745
Dilution associated with stock compensation plans	0	0
Diluted earnings per share	$ 3,776	$ 8,745
Shares
Basic earnings per share (in shares)	43,797	43,261
Dilution associated with stock compensation plans (in shares)	276	380
Diluted earnings per share (in shares)	44,073	43,641
Per share income
Basic earnings per share (in dollars per share)	$ 0.09	$ 0.20
Dilution associated with stock compensation plans (in dollars per share)	0	0
Diluted earnings per share (in dollars per share)	$ 0.09	$ 0.20

Earnings Per Share EPS - Antidi

Earnings Per Share EPS - Antidilutive Shares Excluded (Details) - Stock Options - $ / shares shares in Thousands	3 Months Ended
	Aug. 01, 2015	Aug. 02, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share (in shares)	1,437	1,455
Antidilutive securities excluded from computation of earnings per share, weighted average exercise price (dollars per share)	$ 18.33	$ 18.51

Segment Disclosure - Net Income

Segment Disclosure - Net Income by Segment (Details) $ in Thousands	3 Months Ended
	Aug. 01, 2015USD ($)segment	Aug. 02, 2014USD ($)
Segment Reporting Information
Number of business units | segment	5
Net sales	$ 150,221	$ 166,618
Contribution margin	21,237	28,357
Depreciation and amortization
Depreciation and amortization	4,055	3,716
Non-allocated operating expenses:
General and administrative	8,170	7,937
Product design and development	6,968	6,803
Operating income	6,099	13,617
Nonoperating (expense) income:
Interest income	298	300
Interest expense	(62)	(68)
Other (expense) income, net	(443)	(172)
Income before income taxes	5,892	13,677
Income tax expense	2,116	4,932
Net income	3,776	8,745
Commerical
Segment Reporting Information
Net sales	43,210	39,782
Contribution margin	6,113	6,912
Depreciation and amortization
Depreciation and amortization	1,257	1,207
Live Events
Segment Reporting Information
Net sales	47,922	75,674
Contribution margin	6,183	12,047
Depreciation and amortization
Depreciation and amortization	1,321	1,147
High School Park and Recreation [Member]
Segment Reporting Information
Net sales	18,959	20,111
Contribution margin	3,775	5,158
Depreciation and amortization
Depreciation and amortization	490	453
Transportation
Segment Reporting Information
Net sales	13,767	13,313
Contribution margin	3,180	3,281
Depreciation and amortization
Depreciation and amortization	329	265
International
Segment Reporting Information
Net sales	26,363	17,738
Contribution margin	1,986	959
Depreciation and amortization
Depreciation and amortization	256	250
Unallocated
Depreciation and amortization
Depreciation and amortization	$ 402	$ 394

Segment Disclosure - Net Sales

Segment Disclosure - Net Sales and Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	May. 02, 2015
Net sales:
Net sales	$ 150,221	$ 166,618
Long-lived assets:
Long-lived assets	75,944		$ 72,844
United States
Net sales:
Sales	119,867	141,830
Long-lived assets:
Long-lived assets	71,090		67,882
Outside U.S.
Net sales:
Sales	30,354	$ 24,788
Long-lived assets:
Long-lived assets	$ 4,854		$ 4,962

Marketable Securities - Availab

Marketable Securities - Available-for-sale Securities (Details) - USD ($) $ in Thousands	Aug. 01, 2015	May. 02, 2015
Schedule of Available-for-sale Securities
Amortized Cost	$ 25,327	$ 25,349
Unrealized Gains	3	6
Unrealized Losses	(1)	(9)
Fair Value	25,329	25,346
Certificates of deposit
Schedule of Available-for-sale Securities
Amortized Cost	13,636	11,409
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	13,636	11,409
U.S. Government securities
Schedule of Available-for-sale Securities
Amortized Cost	500	1,000
Unrealized Gains	0	1
Unrealized Losses	0	0
Fair Value	500	1,001
U.S. Government sponsored entities
Schedule of Available-for-sale Securities
Amortized Cost	7,224	7,951
Unrealized Gains	0	0
Unrealized Losses	(1)	(9)
Fair Value	7,223	7,942
Municipal obligations
Schedule of Available-for-sale Securities
Amortized Cost	3,967	4,989
Unrealized Gains	3	5
Unrealized Losses	0	0
Fair Value	$ 3,970	$ 4,994

Marketable Securities - Avail36

Marketable Securities - Available-for-sale by Maturity Date (Details) $ in Thousands	Aug. 01, 2015USD ($)
Schedule of Available-for-sale Securities
Less than 12 months	$ 8,112
Greater than 12 months	17,217
Total	25,329
Certificates of deposit
Schedule of Available-for-sale Securities
Less than 12 months	3,948
Greater than 12 months	9,688
Total	13,636
U.S. Government securities
Schedule of Available-for-sale Securities
Less than 12 months	500
Greater than 12 months	0
Total	500
U.S. Government sponsored entities
Schedule of Available-for-sale Securities
Less than 12 months	0
Greater than 12 months	7,223
Total	7,223
Municipal obligations
Schedule of Available-for-sale Securities
Less than 12 months	3,664
Greater than 12 months	306
Total	$ 3,970

Business Combination (Details)

Business Combination (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 01, 2015	May. 02, 2015	Aug. 11, 2014
Business Acquisition [Line Items]
Goodwill	$ 5,385	$ 5,269
Data Display
Business Acquisition [Line Items]
Percentage of voting interests acquired			100.00%
Goodwill	1,463		$ 1,099
Goodwill, Adjustments	364
Property and Equipment	1,433		1,433
Investment for Affiliates	437		437
Inventory	2,624		2,773
Inventory, Adjustments	(149)
Accounts Receivable	3,063		3,380
Accounts Receivable, Adjustments	(317)
Other Current Assets	1,892		1,869
Other Current Assets, Adjustments	23
Current Liabilities	3,695		3,616
Current Liabilities, Adjustments	79
Long-term Obligations	950		950
Data Display | Trademarks and Technology
Business Acquisition [Line Items]
Acquired finite-lived intangible asset	480		480
Data Display | Customer Relationships
Business Acquisition [Line Items]
Acquired finite-lived intangible asset	$ 84		$ 84

Sale of Theatre Rigging Manuf38

Sale of Theatre Rigging Manufacturing (Details) - Theatre Rigging Manufacturing [Member] - USD ($) $ in Thousands	3 Months Ended
	Aug. 01, 2015	Jul. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain from sale of division	$ 1,261
Assets sold		$ 2,817
Accounts payable sold		$ 355

Goodwill (Details)

Goodwill (Details) $ in Thousands	3 Months Ended
	Aug. 01, 2015USD ($)
Goodwill
Balance as of May 2, 2015	$ 5,269
Acquisition, net of cash required	213
Foreign currency translation	(97)
Balance as of August 1, 2015	5,385
Live Events
Goodwill
Balance as of May 2, 2015	2,321
Acquisition, net of cash required	0
Foreign currency translation	(30)
Balance as of August 1, 2015	2,291
Commerical
Goodwill
Balance as of May 2, 2015	721
Acquisition, net of cash required	0
Foreign currency translation	(2)
Balance as of August 1, 2015	719
Transportation
Goodwill
Balance as of May 2, 2015	91
Acquisition, net of cash required	0
Foreign currency translation	(29)
Balance as of August 1, 2015	62
International
Goodwill
Balance as of May 2, 2015	2,136
Acquisition, net of cash required	213
Foreign currency translation	(36)
Balance as of August 1, 2015	$ 2,313

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Aug. 01, 2015	May. 02, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 31,669	$ 28,325
Work-in-process	7,450	7,512
Finished goods	32,892	28,552
Inventories	$ 72,011	$ 64,389

Receivables (Details)

Receivables (Details) - USD ($) $ in Thousands	3 Months Ended
	Aug. 01, 2015	May. 02, 2015
Receivables
Allowance for doubtful accounts	$ 2,477	$ 2,316
Retainage on construction-type contracts, expected to be collected in one year	531	385
Financing Receivable
Receivables
Long-term contracts and lease receivables, present value	9,643	9,874
Long-term contracts and lease receivables, face amount	$ 11,012	$ 10,976
Financing Receivable | Minimum
Receivables
Contract and lease receivables annual interest rates	4.80%
Financing Receivable | Maximum
Receivables
Contract and lease receivables annual interest rates	10.00%

Commitments and Contingencies -

Commitments and Contingencies - Guarantees and Warranties (Details) - Aug. 01, 2015 - USD ($) $ in Thousands	Total
Movement in Standard Product Warranty Accrual
Beginning accrued warranty costs	$ 26,481
Warranties issued during the period	3,344
Settlements made during the period	(4,274)
Changes in accrued warranty costs for pre-existing warranties during the period, including expirations	1,923
Ending accrued warranty costs	$ 27,474
Minimum
Warranties:
Standard parts warranty period	1 year
Installation warranty period	1 year
Maximum
Warranties:
Standard parts warranty period	5 years
Installation warranty period	10 years
Repurchase of equipment guarantees
Guarantees:
Guarantees total obligations	$ 1,100
Performance guarantees | Letter of credit and bank guarantees agreements
Guarantees:
Performance guarantees outstanding	13,336
Performance guarantees | Surety bonds
Guarantees:
Performance guarantees outstanding	$ 50,931

Commitments and Contingencies43

Commitments and Contingencies - Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Aug. 01, 2015	Aug. 02, 2014
Operating Leased Assets
Operating leases, rent expense	$ 640	$ 696
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity
2,015	2,000
2,016	1,493
2,017	443
2,018	85
2,019	38
Total	4,059
January 1, 2015 to December 31, 2016
Operating Leased Assets
Operating leases, purchase option price	8,400
Year ending December 2017
Operating Leased Assets
Operating leases, purchase option price	8,600
Year ending December 2018
Operating Leased Assets
Operating leases, purchase option price	$ 8,800

Commitments and Contingencies44

Commitments and Contingencies - Purchase Commitments (Details) $ in Thousands	Aug. 01, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
Conditional purchase commitment	$ 700
Purchase Obligation, Fiscal Year Maturity
2,015	1,791
2,016	1,090
2,017	295
2,018	100
2,019	0
Total	$ 3,276

Commitments and Contingencies L

Commitments and Contingencies Litigation (Details) - USD ($) $ in Thousands	Aug. 01, 2015	May. 02, 2015
Commitments and Contingencies Disclosure [Abstract]
Estimated Litigation Liability, Current	$ 500	$ 0

Income Taxes (Details)

Income Taxes (Details) $ in Thousands	Aug. 01, 2015USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefits that would affect our effective tax rate if recognized	$ 2,900

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($) $ in Thousands	Aug. 01, 2015	May. 02, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	$ 25,329	$ 25,346
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	13,636	11,409
U.S. Government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	500	1,001
U.S. Government sponsored entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	7,223	7,942
Municipal obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	3,970	4,994
Recurring Basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	35,269	57,284
Restricted cash	199	496
Derivatives-currency forward contract, asset	0
Derivatives - currency forward contracts, liability		0
Assets, net	35,968	58,781
Recurring Basis | Level 1 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	0	0
Recurring Basis | Level 1 | U.S. Government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	500	1,001
Recurring Basis | Level 1 | U.S. Government sponsored entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	0	0
Recurring Basis | Level 1 | Municipal obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	0	0
Recurring Basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	0	0
Restricted cash	0	0
Derivatives-currency forward contract, asset	35
Derivatives - currency forward contracts, liability		283
Assets, net	24,864	24,062
Recurring Basis | Level 2 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	13,636	11,409
Recurring Basis | Level 2 | U.S. Government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	0	0
Recurring Basis | Level 2 | U.S. Government sponsored entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	7,223	7,942
Recurring Basis | Level 2 | Municipal obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	3,970	4,994
Recurring Basis | Total
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and cash equivalents	35,269	57,284
Restricted cash	199	496
Derivatives-currency forward contract, asset	35
Derivatives - currency forward contracts, liability		283
Assets, net	60,832	82,843
Recurring Basis | Total | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	13,636	11,409
Recurring Basis | Total | U.S. Government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	500	1,001
Recurring Basis | Total | U.S. Government sponsored entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	7,223	7,942
Recurring Basis | Total | Municipal obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available-for-sale securities:	$ 3,970	$ 4,994

Derivative Financial Instrume48

Derivative Financial Instruments (Details) € in Thousands, £ in Thousands, SGD in Thousands, PLN in Thousands, CAD in Thousands, AUD in Thousands, $ in Thousands

Aug. 01, 2015CAD

Aug. 01, 2015AUD

Aug. 01, 2015PLN

Aug. 01, 2015USD ($)

Aug. 01, 2015EUR (€)

Aug. 01, 2015SGD

Aug. 01, 2015GBP (£)

May. 02, 2015CAD

May. 02, 2015AUD

May. 02, 2015PLN

May. 02, 2015USD ($)

May. 02, 2015EUR (€)

May. 02, 2015SGD

May. 02, 2015GBP (£)

Recurring Basis | Level 2

Derivative

Derivatives-currency forward contract, asset

$ 35

Derivatives - currency forward contracts, liability

$ 283

U.S. Dollars/Australian Dollars

Derivative

Foreign Currency Exchange Forward Contracts:

AUD 4,800

3,628

AUD 1,918

1,487

U.S. Dollars/Japanese Yen

Derivative

Foreign Currency Exchange Forward Contracts:

PLN 16,707

136

PLN 91,282

764

U.S. Dollars/Canadian Dollars

Derivative

Foreign Currency Exchange Forward Contracts:

CAD 2,479

1,907

CAD 4,923

4,129

U.S. Dollars/British Pounds

Derivative

Foreign Currency Exchange Forward Contracts:

1,961

£ 1,285

1,679

£ 1,123

U.S. Dollars/Singapore Dollars

Derivative

Foreign Currency Exchange Forward Contracts:

1,002

SGD 1,369

1,176

SGD 1,601

U.S. Dollars/Euros

Derivative

Foreign Currency Exchange Forward Contracts:

(91)

€ (54)

(229)

€ (174)

U.S. Dollars/Swiss Franc

Derivative

Foreign Currency Exchange Forward Contracts:

$ 4,636

€ 4,500

$ 5,662

€ 5,500

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Sep. 04, 2015	Aug. 01, 2015	Aug. 02, 2014
Subsequent Event [Line Items]
Cash dividend declared per share (in dollars per share)		$ 0.10	$ 0.10
Subsequent Event [Member]
Subsequent Event [Line Items]
Cash dividend declared per share (in dollars per share)	$ 0.10