Document And Entity Information
| Document And Entity Information - shares | 9 Months Ended | |
| Jan. 30, 2016 | Feb. 29, 2016 | |
| 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 | 43,978,169 | |
| Document Fiscal Year Focus | 2,016 | |
| Document Fiscal Period Focus | Q3 | |
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Jan. 30, 2016 |
CONSOLIDATED BALANCE SHEETS
| CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jan. 30, 2016 | May. 02, 2015 |
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $ 31,677 | $ 57,284 |
| Restricted cash | 194 | 496 |
| Marketable securities | 24,471 | 25,346 |
| Accounts receivable, net | 73,430 | 80,857 |
| Inventories, net | 68,713 | 64,389 |
| Costs and estimated earnings in excess of billings | 30,815 | 35,068 |
| Current maturities of long-term receivables | 3,703 | 3,784 |
| Prepaid expenses and other assets | 5,812 | 6,663 |
| Deferred income taxes | 10,569 | 10,640 |
| Income tax receivables | 10,419 | 5,543 |
| Total current assets | 259,803 | 290,070 |
| Long-term receivables, less current maturities | 5,023 | 6,090 |
| Goodwill | 5,316 | 5,269 |
| Intangibles, net | 1,681 | 1,824 |
| Investment in affiliates and other assets | 2,186 | 2,680 |
| Deferred income taxes | 751 | 702 |
| Total noncurrent assets | 14,957 | 16,565 |
| PROPERTY AND EQUIPMENT: | ||
| Land | 2,138 | 2,147 |
| Buildings | 65,155 | 64,186 |
| Machinery and equipment | 86,104 | 80,664 |
| Office furniture and equipment | 15,840 | 15,823 |
| Computer software and hardware | 53,784 | 51,083 |
| Equipment held for rental | 803 | 803 |
| Demonstration equipment | 7,502 | 7,299 |
| Transportation equipment | 6,483 | 6,012 |
| Property and equipment, gross | 237,809 | 228,017 |
| Less accumulated depreciation | 164,431 | 155,173 |
| Property and equipment, net | 73,378 | 72,844 |
| TOTAL ASSETS | 348,138 | 379,479 |
| CURRENT LIABILITIES: | ||
| Accounts payable | 37,903 | 52,747 |
| Accrued expenses | 23,967 | 26,063 |
| Warranty obligations | 14,171 | 11,838 |
| Billings in excess of costs and estimated earnings | 13,120 | 23,797 |
| Customer deposits (billed or collected) | 15,645 | 16,828 |
| Deferred revenue (billed or collected) | 10,145 | 9,524 |
| Current portion of other long-term obligations | 469 | 587 |
| Income taxes payable | 84 | 636 |
| Total current liabilities | 115,504 | 142,020 |
| Long-term warranty obligations | 14,929 | 14,643 |
| Long-term deferred revenue (billed or collected) | 4,464 | 3,914 |
| Other long-term obligations, less current maturities | 2,443 | 3,190 |
| Long-term income tax payable | 2,986 | 2,734 |
| Deferred income taxes | 1,841 | 939 |
| Total long-term liabilities | 26,663 | 25,420 |
| TOTAL LIABILITIES | 142,167 | 167,440 |
| SHAREHOLDERS' EQUITY: | ||
| Common Stock, no par value, authorized 120,000,000 shares; 43,998,635 and 43,643,801 shares issued and outstanding at January 30, 2016 and May 2, 2015, respectively | 50,498 | 48,960 |
| Additional paid-in capital | 34,637 | 32,693 |
| Retained earnings | 124,604 | 132,771 |
| Treasury Stock, at cost, 19,680 shares | (9) | (9) |
| Accumulated other comprehensive loss | (3,759) | (2,376) |
| TOTAL SHAREHOLDERS' EQUITY | 205,971 | 212,039 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 348,138 | $ 379,479 |
CONSOLIDATED BALANCE SHEETS (Pa
| CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Jan. 30, 2016 | 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) | 43,998,635 | 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 | 9 Months Ended | ||
| Jan. 30, 2016 | Jan. 31, 2015 | Jan. 30, 2016 | Jan. 31, 2015 | |
| Income Statement [Abstract] | ||||
| Net sales | $ 123,816 | $ 118,123 | $ 431,705 | $ 457,856 |
| Cost of goods sold | 101,787 | 93,061 | 338,662 | 348,514 |
| Gross profit | 22,029 | 25,062 | 93,043 | 109,342 |
| Operating expenses: | ||||
| Selling expense | 13,784 | 13,694 | 42,873 | 43,405 |
| General and administrative | 7,908 | 7,133 | 24,194 | 22,890 |
| Product design and development | 5,883 | 5,820 | 19,826 | 18,773 |
| Total operating expenses | 27,575 | 26,647 | 86,893 | 85,068 |
| Operating (loss) income | (5,546) | (1,585) | 6,150 | 24,274 |
| Nonoperating income (expense): | ||||
| Interest income | 230 | 250 | 794 | 825 |
| Interest expense | (113) | (59) | (203) | (183) |
| Other income (expense), net | 7 | 179 | (667) | (218) |
| (Loss) income before income taxes | (5,422) | (1,215) | 6,074 | 24,698 |
| Income tax (benefit) expense | (3,469) | (1,776) | 1,083 | 7,655 |
| Net (loss) income | $ (1,953) | $ 561 | $ 4,991 | $ 17,043 |
| Weighted average shares outstanding: | ||||
| Basic (in shares) | 44,021 | 43,612 | 43,933 | 43,435 |
| Diluted (in shares) | 44,021 | 43,991 | 44,357 | 44,204 |
| Earnings per share: | ||||
| Basic (in dollars per share) | $ (0.04) | $ 0.01 | $ 0.11 | $ 0.39 |
| Diluted (in dollars per share) | (0.04) | 0.01 | 0.11 | 0.39 |
| Cash dividend declared per share (in dollars per share) | $ 0.10 | $ 0.10 | $ 0.30 | $ 0.30 |
CONSOLIDATED STATEMENT OF COMPR
| CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
| Jan. 30, 2016 | Jan. 31, 2015 | Jan. 30, 2016 | Jan. 31, 2015 | |
| Statement of Comprehensive Income [Abstract] | ||||
| Net income | $ (1,953) | $ 561 | $ 4,991 | $ 17,043 |
| Other comprehensive loss: | ||||
| Cumulative translation adjustments | (628) | (1,386) | (1,388) | (2,501) |
| Unrealized income (loss) on available-for-sale securities, net of tax | 8 | 8 | 5 | (3) |
| Total other comprehensive loss, net of tax | (620) | (1,378) | (1,383) | (2,504) |
| Comprehensive (loss) income | $ (2,573) | $ (817) | $ 3,608 | $ 14,539 |
CONSOLIDATED STATEMENTS OF CASH
| CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
| Jan. 30, 2016 | Jan. 31, 2015 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $ 4,991 | $ 17,043 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation | 12,381 | 11,056 |
| Amortization | 104 | 169 |
| Amortization of premium/discount on marketable securities | 77 | 132 |
| Gain on sale of property, equipment and other assets | (50) | (1,192) |
| Share-based compensation | 2,244 | 2,341 |
| Gain on sale of equity investee | 119 | 0 |
| Excess tax benefits from share-based compensation | (4) | (35) |
| Provision for doubtful accounts | (110) | (295) |
| Deferred income taxes, net | 860 | 353 |
| Change in operating assets and liabilities | (18,181) | (2,255) |
| Net cash provided by operating activities | 2,193 | 27,317 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchases of property and equipment | (13,389) | (15,328) |
| Proceeds from sale of property, equipment and other assets | 111 | 4,011 |
| Purchases of marketable securities | (18,273) | (10,647) |
| Proceeds from sales or maturities of marketable securities | 19,069 | 10,256 |
| Acquisitions, net of cash acquired | (2,183) | (6,223) |
| Proceeds from sale of equity method investment | 377 | 0 |
| Net cash used in investing activities | (14,288) | (17,931) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Payments on notes payable | (33) | (42) |
| Proceeds from exercise of stock options | 610 | 2,424 |
| Excess tax benefits from share-based compensation | 4 | 35 |
| Principal payments on long-term obligations | (15) | (1,185) |
| Dividends paid | (13,158) | (13,016) |
| Net cash used in financing activities | (12,592) | (11,784) |
| EFFECT OF EXCHANGE RATE CHANGES ON CASH | (920) | (905) |
| NET DECREASE IN CASH AND CASH EQUIVALENTS | (25,607) | (3,303) |
| CASH AND CASH EQUIVALENTS: | ||
| Beginning of period | 57,284 | 45,054 |
| End of period | 31,677 | 41,751 |
| Cash payments for: | ||
| Interest | 283 | 256 |
| Income taxes, net of refunds | 5,466 | 9,961 |
| Supplemental schedule of non-cash investing and financing activities: | ||
| Demonstration equipment transferred to inventory | 220 | 69 |
| Purchase of property and equipment included in accounts payable | 280 | 1,025 |
| Contributions of common stock under the employee stock purchase plan | $ 927 | $ 1,737 |
Basis of Presentation and Summa
| Basis of Presentation and Summary of Critical Accounting Policies | 9 Months Ended |
| Jan. 30, 2016 | |
| 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 nine months ended January 30, 2016 contained operating results for 39 weeks while the nine months ended January 31, 2015 contained operating results for 40 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 February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, Leases (Topic 842) , which provides new guidance related to accounting for leases and supercedes existing U.S. GAAP on lease accounting. The main difference between the existing guidance on accounting for leases and the new standard is that operating leases will not be recorded in the statement of financial position as assets and liabilities. The new guidance is effective for interim and annual periods beginning after December 15, 2018, with early adoption permitted. 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 January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities , which affects accounting for equity investments and financial liabilities where the fair value option has been elected. The new guidance is effective for interim and annual periods beginning after December 15, 2017, which early adoption permitted. 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 November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740) Balance Sheet Classification of Deferred Taxes , which simplifies the presentation of deferred income taxes. Under the new accounting standard, deferred tax assets and liabilities are required to be classified as noncurrent, eliminating the prior requirement to separate deferred tax assets and liabilities into current and noncurrent. The new guidance is effective for interim and annual periods beginning after December 15, 2016, with early adoption permitted. The standard may be adopted prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. We are currently evaluating the effect that adopting ASU 2015-17 will have on our consolidated results of operations, cash flows, and financial position. In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory , which changes the measurement principle of inventory from the lower of cost or market to the lower of cost and net realizable value. The guidance will require prospective application at the beginning of our first quarter of fiscal 2018, but it permits adoption in an earlier period. We have evaluated the effect of adopting ASU 2015-11 and will adopt the standard at the beginning of fiscal year 2017. There will be no material impact to 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. This 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 | 9 Months Ended |
| Jan. 30, 2016 | |
| 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 and nine months ended January 30, 2016 and January 31, 2015 : Net income (loss) Shares Per share income (loss) For the three months ended January 30, 2016 Basic (loss) earnings per share $ (1,953 ) 44,021 $ (0.04 ) Dilution associated with stock compensation plans — — — Diluted (loss) earnings per share $ (1,953 ) 44,021 $ (0.04 ) For the three months ended January 31, 2015 Basic earnings per share $ 561 43,612 $ 0.01 Dilution associated with stock compensation plans — 379 — Diluted earnings per share $ 561 43,991 $ 0.01 For the nine months ended January 30, 2016 Basic earnings per share $ 4,991 43,933 $ 0.11 Dilution associated with stock compensation plans — 424 — Diluted earnings per share $ 4,991 44,357 $ 0.11 For the nine months ended January 31, 2015 Basic earnings per share $ 17,043 43,435 $ 0.39 Dilution associated with stock compensation plans — 769 — Diluted earnings per share $ 17,043 44,204 $ 0.39 Options outstanding to purchase 2,166 shares of common stock with a weighted average exercise price of $14.63 for the three months ended January 30, 2016 and 1,457 shares of common stock with a weighted average exercise price of $18.39 for the three months ended January 31, 2015 were not included in the computation of diluted earnings per share because the effects would be anti-dilutive and because of the loss recorded for the 2016 period. Options outstanding to purchase 2,180 shares of common stock with a weighted average exercise price of $15.01 for the nine months ended January 30, 2016 and 1,479 shares of common stock with a weighted average exercise price of $18.38 for the nine months ended January 31, 2015 were not included in the computation of diluted earnings per share because the effects would be anti-dilutive. |
Segment Disclosure
| Segment Disclosure | 9 Months Ended |
| Jan. 30, 2016 | |
| 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), out-of-home ("OOH") companies, 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 Nine Months Ended January 30, January 31, January 30, January 31, Net sales: Commercial $ 29,385 $ 37,762 $ 112,661 $ 121,472 Live Events 51,067 33,496 149,750 171,811 High School Park and Recreation 10,940 10,771 54,152 55,125 Transportation 11,698 9,479 38,759 34,807 International 20,726 26,615 76,383 74,641 123,816 118,123 431,705 457,856 Contribution margin: Commercial 696 5,702 10,802 21,822 Live Events 4,046 2,072 17,031 20,629 High School Park and Recreation 143 27 7,703 9,616 Transportation 2,694 1,317 9,057 7,027 International 666 2,250 5,577 6,843 8,245 11,368 50,170 65,937 Non-allocated operating expenses: General and administrative 7,908 7,133 24,194 22,890 Product design and development 5,883 5,820 19,826 18,773 Operating (loss) income (5,546 ) (1,585 ) 6,150 24,274 Nonoperating (expense) income: Interest income 230 250 794 825 Interest expense (113 ) (59 ) (203 ) (183 ) Other income (expense), net 7 179 (667 ) (218 ) (Loss) income before income taxes (5,422 ) (1,215 ) 6,074 24,698 Income tax (benefit) expense (3,469 ) (1,776 ) 1,083 7,655 Net (loss) income $ (1,953 ) $ 561 $ 4,991 $ 17,043 Depreciation and amortization: Commercial $ 1,208 $ 1,205 $ 3,599 $ 3,630 Live Events 1,258 1,145 3,676 3,460 High School Park and Recreation 436 460 1,294 1,381 Transportation 344 297 1,012 840 International 310 254 908 809 Unallocated corporate depreciation 673 363 1,996 1,105 $ 4,229 $ 3,724 $ 12,485 $ 11,225 No single geographic area comprises a material amount of our 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 Nine Months Ended January 30, January 31, January 30, January 31, Net sales: United States $ 101,200 $ 90,127 $ 347,278 $ 370,168 Outside U.S. 22,616 27,996 84,427 87,688 $ 123,816 $ 118,123 $ 431,705 $ 457,856 January 30, May 2, Property and equipment, net of accumulated depreciation: United States $ 68,640 $ 67,882 Outside U.S. 4,738 4,962 $ 73,378 $ 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 two major digital billboard customers in our Commercial business unit. |
Marketable Securities
| Marketable Securities | 9 Months Ended |
| Jan. 30, 2016 | |
| 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 January 30, 2016 , 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 January 30, 2016 and May 2, 2015 , our available-for-sale securities consisted of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value Balance as of January 30, 2016 Certificates of deposit $ 15,420 $ — $ — $ 15,420 U.S. Government sponsored entities 6,574 — (5 ) 6,569 Municipal obligations 2,480 2 — 2,482 $ 24,474 $ 2 $ (5 ) $ 24,471 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 income (expense), 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 nine months ended January 30, 2016 and January 31, 2015 , 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 January 30, 2016 were as follows: Less than 12 months 1-5 Years Total Certificates of deposit $ 6,564 $ 8,856 $ 15,420 U.S. Government sponsored agencies — 6,569 6,569 Municipal obligations 1,251 1,231 2,482 $ 7,815 $ 16,656 $ 24,471 |
Business Combination
| Business Combination | 9 Months Ended |
| Jan. 30, 2016 | |
| 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 values of the 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) | 9 Months Ended |
| Jan. 30, 2016 | |
| 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 | 9 Months Ended |
| Jan. 30, 2016 | |
| 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 nine months ended January 30, 2016 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 (60 ) (4 ) (58 ) (44 ) (166 ) Balance as of January 30, 2016 $ 2,261 $ 717 $ 33 $ 2,305 $ 5,316 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 2016, which was November 1, 2015. The result of the analysis indicated no goodwill impairment existed as of that date. |
Inventories
| Inventories | 9 Months Ended |
| Jan. 30, 2016 | |
| Inventory Disclosure [Abstract] | |
| Inventories | Note 8. Inventories Inventories consisted of the following: January 30, May 2, Raw materials $ 29,486 $ 28,325 Work-in-process 8,480 7,512 Finished goods 30,747 28,552 $ 68,713 $ 64,389 |
Receivables
| Receivables | 9 Months Ended |
| Jan. 30, 2016 | |
| Receivables [Abstract] | |
| Receivables | Note 9. Receivables Accounts receivable are reported net of an allowance for doubtful accounts of $2,206 and $2,316 at January 30, 2016 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 U.S. 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 $8,726 and $9,874 as of January 30, 2016 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 2024. The face amount of long-term receivables was $9,148 as of January 30, 2016 and $10,976 as of May 2, 2015 . Included in accounts receivable as of January 30, 2016 and May 2, 2015 was $836 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 | 9 Months Ended |
| Jan. 30, 2016 | |
| 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, Contingencies - 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 January 30, 2016 and May 2, 2015 , we did not believe there was a reasonable probability any material loss for these various claims or legal actions, including reviews, inspections or other legal proceedings, if any, will be incurred. Accordingly, no accrual or disclosure of a potential range of loss has been made related to these matters. 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. 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 accrued warranty obligations and, to the extent we experience any changes in warranty claim activity or costs associated with servicing those claims, our warranty obligations are adjusted accordingly. During fiscal 2016, we discovered a warranty issue caused by a mechanical device failure within a module for displays primarily in our out-of-home applications built prior to fiscal 2013. The device failure causes a visual defect in the display. We are deploying preventative maintenance to sites impacted and can repair the device in our repair center. When certain site locations have exceeded an acceptable failure rate, we have refurbished the display to meet customers’ expectations under contractual obligations. We have increased our accrued warranty obligations by $5.6 million during fiscal 2016 and $1.2 million during fiscal 2015 for probable and reasonably estimable costs to remediate this issue. As of January 30, 2016, we had $3.5 million remaining in accrued warranty obligations for the estimate of probable future claims related to this issue. Because failure rates are unpredictable, the final outcome of this matter is dependent on many factors that are difficult to predict. Accordingly, it is possible that the ultimate cost to resolve this matter may increase and materially different than the amount of the current estimate and accrual. Changes in our warranty obligation for the nine months ended January 30, 2016 consisted of the following: Amount Beginning accrued warranty obligations $ 26,481 Warranties issued during the period 8,696 Settlements made during the period (13,769 ) Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations 7,692 Ending accrued warranty obligations $ 29,100 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 January 30, 2016 , we had outstanding letters of credit and surety bonds in the amount of $8,183 and $64,302 , 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 equipment for various global sales and service locations, 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 $2,023 and $2,048 for the nine months ended January 30, 2016 and January 31, 2015 , 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 January 30, 2016 : Fiscal years ending Amount 2016 $ 692 2017 1,859 2018 789 2019 354 2020 196 $ 3,890 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 January 30, 2016 , we were obligated under the following conditional and unconditional purchase commitments, which included $600 in conditional purchase commitments: Fiscal years ending Amount 2016 $ 1,276 2017 1,090 2018 295 2019 100 2020 — $ 2,761 |
Income Taxes
| Income Taxes | 9 Months Ended |
| Jan. 30, 2016 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Note 11. Income Taxes We are subject to U.S. Federal income tax as well as 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 2013, 2014, and 2015 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 January 30, 2016 , we had $2,986 of unrecognized tax benefits which would reduce our effective tax rate if recognized. On December 18, 2015, the President signed into law The Protecting Americans from Tax Hikes Act of 2015 (“PATH Act”). Under prior law, a taxpayer was not entitled to a research tax credit for qualifying amounts paid or incurred after December 31, 2014. However, under the PATH Act, a taxpayer is now entitled to a research tax credit for qualifying amounts paid or incurred after December 31, 2014 with no expiration. As a result of the retroactive reinstatement and permanent extension, we recognized in the third quarter of fiscal 2016 approximately $2.0 million in tax benefits for the credit. On December 19, 2014, the President signed into law The Tax Increase Prevention Act of 2014. Under prior law, a taxpayer was entitled to a research tax credit for qualifying amounts paid or incurred on or before December 31, 2013. The 2014 Tax Increase Prevention Act extended the research credit for one year to December 31, 2014. The extension of the research credit was retroactive and included amounts paid or incurred after December 31, 2013. As a result of the retroactive extension, we recognized in the third quarter of fiscal 2015 approximately $1.3 million in tax benefits for the credit. |
Fair Value Measurement
| Fair Value Measurement | 9 Months Ended |
| Jan. 30, 2016 | |
| 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 January 30, 2016 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 January 30, 2016 Cash and cash equivalents $ 31,677 $ — $ 31,677 Restricted cash 194 — 194 Available-for-sale securities: Certificates of deposit — 15,420 15,420 U.S. Government sponsored entities — 6,569 6,569 Municipal obligations — 2,482 2,482 Derivatives - currency forward contracts — 187 187 $ 31,871 $ 24,658 $ 56,529 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 and Note 6. Sale of Theatre Rigging Manufacturing for more information. |
Derivative Financial Instrument
| Derivative Financial Instruments | 9 Months Ended |
| Jan. 30, 2016 | |
| 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 January 30, 2016 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 income (expense), net. The foreign currency exchange contracts in aggregated notional amounts in place to exchange U.S. Dollars at January 30, 2016 and May 2, 2015 were as follows: January 30, 2016 May 2, 2015 U.S. Dollars Foreign U.S. Foreign Foreign Currency Exchange Forward Contracts: U.S. Dollars/Australian Dollars 4,014 5,696 1,487 1,918 U.S. Dollars/Japanese Yen — — 764 91,282 U.S. Dollars/Canadian Dollars 304 411 4,129 4,923 U.S. Dollars/British Pounds 1,799 1,185 1,679 1,123 U.S. Dollars/Singapore Dollars 261 356 1,176 1,601 U.S. Dollars/New Zealand Dollars 52 83 — — U.S. Dollars/Euros 405 360 (229 ) (174 ) U.S Dollars/Swiss Franc 724 696 5,662 5,500 As of January 30, 2016 and May 2, 2015 , there was a net asset and liability of $187 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. |
Basis of Presentation and Sum20
| Basis of Presentation and Summary of Critical Accounting Policies (Policies) | 9 Months Ended |
| Jan. 30, 2016 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Recently Issued Accounting Pronouncements | Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, Leases (Topic 842) , which provides new guidance related to accounting for leases and supercedes existing U.S. GAAP on lease accounting. The main difference between the existing guidance on accounting for leases and the new standard is that operating leases will not be recorded in the statement of financial position as assets and liabilities. The new guidance is effective for interim and annual periods beginning after December 15, 2018, with early adoption permitted. 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 January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities , which affects accounting for equity investments and financial liabilities where the fair value option has been elected. The new guidance is effective for interim and annual periods beginning after December 15, 2017, which early adoption permitted. 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 November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740) Balance Sheet Classification of Deferred Taxes , which simplifies the presentation of deferred income taxes. Under the new accounting standard, deferred tax assets and liabilities are required to be classified as noncurrent, eliminating the prior requirement to separate deferred tax assets and liabilities into current and noncurrent. The new guidance is effective for interim and annual periods beginning after December 15, 2016, with early adoption permitted. The standard may be adopted prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. We are currently evaluating the effect that adopting ASU 2015-17 will have on our consolidated results of operations, cash flows, and financial position. In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory , which changes the measurement principle of inventory from the lower of cost or market to the lower of cost and net realizable value. The guidance will require prospective application at the beginning of our first quarter of fiscal 2018, but it permits adoption in an earlier period. We have evaluated the effect of adopting ASU 2015-11 and will adopt the standard at the beginning of fiscal year 2017. There will be no material impact to 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. This 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) | 9 Months Ended |
| Jan. 30, 2016 | |
| 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 and nine months ended January 30, 2016 and January 31, 2015 : Net income (loss) Shares Per share income (loss) For the three months ended January 30, 2016 Basic (loss) earnings per share $ (1,953 ) 44,021 $ (0.04 ) Dilution associated with stock compensation plans — — — Diluted (loss) earnings per share $ (1,953 ) 44,021 $ (0.04 ) For the three months ended January 31, 2015 Basic earnings per share $ 561 43,612 $ 0.01 Dilution associated with stock compensation plans — 379 — Diluted earnings per share $ 561 43,991 $ 0.01 For the nine months ended January 30, 2016 Basic earnings per share $ 4,991 43,933 $ 0.11 Dilution associated with stock compensation plans — 424 — Diluted earnings per share $ 4,991 44,357 $ 0.11 For the nine months ended January 31, 2015 Basic earnings per share $ 17,043 43,435 $ 0.39 Dilution associated with stock compensation plans — 769 — Diluted earnings per share $ 17,043 44,204 $ 0.39 |
Segment Disclosure (Tables)
| Segment Disclosure (Tables) | 9 Months Ended |
| Jan. 30, 2016 | |
| 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 Nine Months Ended January 30, January 31, January 30, January 31, Net sales: Commercial $ 29,385 $ 37,762 $ 112,661 $ 121,472 Live Events 51,067 33,496 149,750 171,811 High School Park and Recreation 10,940 10,771 54,152 55,125 Transportation 11,698 9,479 38,759 34,807 International 20,726 26,615 76,383 74,641 123,816 118,123 431,705 457,856 Contribution margin: Commercial 696 5,702 10,802 21,822 Live Events 4,046 2,072 17,031 20,629 High School Park and Recreation 143 27 7,703 9,616 Transportation 2,694 1,317 9,057 7,027 International 666 2,250 5,577 6,843 8,245 11,368 50,170 65,937 Non-allocated operating expenses: General and administrative 7,908 7,133 24,194 22,890 Product design and development 5,883 5,820 19,826 18,773 Operating (loss) income (5,546 ) (1,585 ) 6,150 24,274 Nonoperating (expense) income: Interest income 230 250 794 825 Interest expense (113 ) (59 ) (203 ) (183 ) Other income (expense), net 7 179 (667 ) (218 ) (Loss) income before income taxes (5,422 ) (1,215 ) 6,074 24,698 Income tax (benefit) expense (3,469 ) (1,776 ) 1,083 7,655 Net (loss) income $ (1,953 ) $ 561 $ 4,991 $ 17,043 Depreciation and amortization: Commercial $ 1,208 $ 1,205 $ 3,599 $ 3,630 Live Events 1,258 1,145 3,676 3,460 High School Park and Recreation 436 460 1,294 1,381 Transportation 344 297 1,012 840 International 310 254 908 809 Unallocated corporate depreciation 673 363 1,996 1,105 $ 4,229 $ 3,724 $ 12,485 $ 11,225 |
| 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 Nine Months Ended January 30, January 31, January 30, January 31, Net sales: United States $ 101,200 $ 90,127 $ 347,278 $ 370,168 Outside U.S. 22,616 27,996 84,427 87,688 $ 123,816 $ 118,123 $ 431,705 $ 457,856 January 30, May 2, Property and equipment, net of accumulated depreciation: United States $ 68,640 $ 67,882 Outside U.S. 4,738 4,962 $ 73,378 $ 72,844 |
Marketable Securities (Tables)
| Marketable Securities (Tables) | 9 Months Ended |
| Jan. 30, 2016 | |
| Marketable Securities [Abstract] | |
| Available-for-sale Securities | As of January 30, 2016 and May 2, 2015 , our available-for-sale securities consisted of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value Balance as of January 30, 2016 Certificates of deposit $ 15,420 $ — $ — $ 15,420 U.S. Government sponsored entities 6,574 — (5 ) 6,569 Municipal obligations 2,480 2 — 2,482 $ 24,474 $ 2 $ (5 ) $ 24,471 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 January 30, 2016 were as follows: Less than 12 months 1-5 Years Total Certificates of deposit $ 6,564 $ 8,856 $ 15,420 U.S. Government sponsored agencies — 6,569 6,569 Municipal obligations 1,251 1,231 2,482 $ 7,815 $ 16,656 $ 24,471 |
Business Combination (Tables)
| Business Combination (Tables) | 9 Months Ended |
| Jan. 30, 2016 | |
| 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) | 9 Months Ended |
| Jan. 30, 2016 | |
| Goodwill and Intangible Assets Disclosure [Abstract] | |
| Schedule of Goodwill | The changes in the carrying amount of goodwill related to each reportable segment for the nine months ended January 30, 2016 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 (60 ) (4 ) (58 ) (44 ) (166 ) Balance as of January 30, 2016 $ 2,261 $ 717 $ 33 $ 2,305 $ 5,316 |
Inventories (Tables)
| Inventories (Tables) | 9 Months Ended |
| Jan. 30, 2016 | |
| Inventory Disclosure [Abstract] | |
| Schedule of Inventories | Inventories consisted of the following: January 30, May 2, Raw materials $ 29,486 $ 28,325 Work-in-process 8,480 7,512 Finished goods 30,747 28,552 $ 68,713 $ 64,389 |
Commitments and Contingencies (
| Commitments and Contingencies (Tables) | 9 Months Ended |
| Jan. 30, 2016 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Schedule of Product Warranty Liability | Changes in our warranty obligation for the nine months ended January 30, 2016 consisted of the following: Amount Beginning accrued warranty obligations $ 26,481 Warranties issued during the period 8,696 Settlements made during the period (13,769 ) Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations 7,692 Ending accrued warranty obligations $ 29,100 |
| 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 January 30, 2016 : Fiscal years ending Amount 2016 $ 692 2017 1,859 2018 789 2019 354 2020 196 $ 3,890 |
| Long-term Purchase Commitment | As of January 30, 2016 , we were obligated under the following conditional and unconditional purchase commitments, which included $600 in conditional purchase commitments: Fiscal years ending Amount 2016 $ 1,276 2017 1,090 2018 295 2019 100 2020 — $ 2,761 |
Fair Value Measurement (Tables)
| Fair Value Measurement (Tables) | 9 Months Ended |
| Jan. 30, 2016 | |
| 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 January 30, 2016 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 January 30, 2016 Cash and cash equivalents $ 31,677 $ — $ 31,677 Restricted cash 194 — 194 Available-for-sale securities: Certificates of deposit — 15,420 15,420 U.S. Government sponsored entities — 6,569 6,569 Municipal obligations — 2,482 2,482 Derivatives - currency forward contracts — 187 187 $ 31,871 $ 24,658 $ 56,529 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 Instrume29
| Derivative Financial Instruments (Tables) | 9 Months Ended |
| Jan. 30, 2016 | |
| 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 U.S. Dollars at January 30, 2016 and May 2, 2015 were as follows: January 30, 2016 May 2, 2015 U.S. Dollars Foreign U.S. Foreign Foreign Currency Exchange Forward Contracts: U.S. Dollars/Australian Dollars 4,014 5,696 1,487 1,918 U.S. Dollars/Japanese Yen — — 764 91,282 U.S. Dollars/Canadian Dollars 304 411 4,129 4,923 U.S. Dollars/British Pounds 1,799 1,185 1,679 1,123 U.S. Dollars/Singapore Dollars 261 356 1,176 1,601 U.S. Dollars/New Zealand Dollars 52 83 — — U.S. Dollars/Euros 405 360 (229 ) (174 ) U.S Dollars/Swiss Franc 724 696 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 | 9 Months Ended | ||
| Jan. 30, 2016 | Jan. 31, 2015 | Jan. 30, 2016 | Jan. 31, 2015 | |
| Net income | ||||
| Basic earnings per share | $ (1,953) | $ 561 | $ 4,991 | $ 17,043 |
| Dilution associated with stock compensation plans | 0 | 0 | 0 | 0 |
| Diluted earnings per share | $ (1,953) | $ 561 | $ 4,991 | $ 17,043 |
| Shares | ||||
| Basic earnings per share (in shares) | 44,021 | 43,612 | 43,933 | 43,435 |
| Dilution associated with stock compensation plans (in shares) | 0 | 379 | 424 | 769 |
| Diluted earnings per share (in shares) | 44,021 | 43,991 | 44,357 | 44,204 |
| Per share income | ||||
| Basic earnings per share (in dollars per share) | $ (0.04) | $ 0.01 | $ 0.11 | $ 0.39 |
| Dilution associated with stock compensation plans (in dollars per share) | 0 | 0 | 0 | 0 |
| Diluted earnings per share (in dollars per share) | $ (0.04) | $ 0.01 | $ 0.11 | $ 0.39 |
Earnings Per Share EPS - Antidi
| Earnings Per Share EPS - Antidilutive Shares Excluded (Details) - Stock Options - $ / shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
| Jan. 30, 2016 | Jan. 31, 2015 | Jan. 30, 2016 | Jan. 31, 2015 | |
| Antidilutive Securities Excluded from Computation of Earnings Per Share | ||||
| Antidilutive securities excluded from computation of earnings per share (in shares) | 2,166 | 1,457 | 2,180 | 1,479 |
| Antidilutive securities excluded from computation of earnings per share, weighted average exercise price (dollars per share) | $ 14.63 | $ 18.39 | $ 15.01 | $ 18.38 |
Segment Disclosure - Net Income
| Segment Disclosure - Net Income by Segment (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
| Jan. 30, 2016USD ($) | Jan. 31, 2015USD ($) | Jan. 30, 2016USD ($)segment | Jan. 31, 2015USD ($) | |
| Segment Reporting Information | ||||
| Number of business units | segment | 5 | |||
| Net sales | $ 123,816 | $ 118,123 | $ 431,705 | $ 457,856 |
| Contribution margin | 8,245 | 11,368 | 50,170 | 65,937 |
| Depreciation and amortization | ||||
| Depreciation and amortization | 4,229 | 3,724 | 12,485 | 11,225 |
| Non-allocated operating expenses: | ||||
| General and administrative | 7,908 | 7,133 | 24,194 | 22,890 |
| Product design and development | 5,883 | 5,820 | 19,826 | 18,773 |
| Operating (loss) income | (5,546) | (1,585) | 6,150 | 24,274 |
| Nonoperating income (expense): | ||||
| Interest income | 230 | 250 | 794 | 825 |
| Interest expense | (113) | (59) | (203) | (183) |
| Other income (expense), net | 7 | 179 | (667) | (218) |
| (Loss) income before income taxes | (5,422) | (1,215) | 6,074 | 24,698 |
| Income tax (benefit) expense | (3,469) | (1,776) | 1,083 | 7,655 |
| Net (loss) income | (1,953) | 561 | 4,991 | 17,043 |
| Commerical | ||||
| Segment Reporting Information | ||||
| Net sales | 29,385 | 37,762 | 112,661 | 121,472 |
| Contribution margin | 696 | 5,702 | 10,802 | 21,822 |
| Depreciation and amortization | ||||
| Depreciation and amortization | 1,208 | 1,205 | 3,599 | 3,630 |
| Live Events | ||||
| Segment Reporting Information | ||||
| Net sales | 51,067 | 33,496 | 149,750 | 171,811 |
| Contribution margin | 4,046 | 2,072 | 17,031 | 20,629 |
| Depreciation and amortization | ||||
| Depreciation and amortization | 1,258 | 1,145 | 3,676 | 3,460 |
| High School Park and Recreation [Member] | ||||
| Segment Reporting Information | ||||
| Net sales | 10,940 | 10,771 | 54,152 | 55,125 |
| Contribution margin | 143 | 27 | 7,703 | 9,616 |
| Depreciation and amortization | ||||
| Depreciation and amortization | 436 | 460 | 1,294 | 1,381 |
| Transportation | ||||
| Segment Reporting Information | ||||
| Net sales | 11,698 | 9,479 | 38,759 | 34,807 |
| Contribution margin | 2,694 | 1,317 | 9,057 | 7,027 |
| Depreciation and amortization | ||||
| Depreciation and amortization | 344 | 297 | 1,012 | 840 |
| International | ||||
| Segment Reporting Information | ||||
| Net sales | 20,726 | 26,615 | 76,383 | 74,641 |
| Contribution margin | 666 | 2,250 | 5,577 | 6,843 |
| Depreciation and amortization | ||||
| Depreciation and amortization | 310 | 254 | 908 | 809 |
| Unallocated | ||||
| Depreciation and amortization | ||||
| Depreciation and amortization | $ 673 | $ 363 | $ 1,996 | $ 1,105 |
Segment Disclosure - Net Sales
| Segment Disclosure - Net Sales and Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
| Jan. 30, 2016 | Jan. 31, 2015 | Jan. 30, 2016 | Jan. 31, 2015 | May. 02, 2015 | |
| Net sales: | |||||
| Net sales | $ 123,816 | $ 118,123 | $ 431,705 | $ 457,856 | |
| Long-lived assets: | |||||
| Long-lived assets | 73,378 | 73,378 | $ 72,844 | ||
| United States | |||||
| Net sales: | |||||
| Sales | 101,200 | 90,127 | 347,278 | 370,168 | |
| Long-lived assets: | |||||
| Long-lived assets | 68,640 | 68,640 | 67,882 | ||
| Outside U.S. | |||||
| Net sales: | |||||
| Sales | 22,616 | $ 27,996 | 84,427 | $ 87,688 | |
| Long-lived assets: | |||||
| Long-lived assets | $ 4,738 | $ 4,738 | $ 4,962 | ||
Marketable Securities - Availab
| Marketable Securities - Available-for-sale Securities (Details) - USD ($) $ in Thousands | Jan. 30, 2016 | May. 02, 2015 |
| Schedule of Available-for-sale Securities | ||
| Amortized Cost | $ 24,474 | $ 25,349 |
| Unrealized Gains | 2 | 6 |
| Unrealized Losses | (5) | (9) |
| Fair Value | 24,471 | 25,346 |
| Certificates of deposit | ||
| Schedule of Available-for-sale Securities | ||
| Amortized Cost | 15,420 | 11,409 |
| Unrealized Gains | 0 | 0 |
| Unrealized Losses | 0 | 0 |
| Fair Value | 15,420 | 11,409 |
| U.S. Government securities | ||
| Schedule of Available-for-sale Securities | ||
| Amortized Cost | 1,000 | |
| Unrealized Gains | 1 | |
| Unrealized Losses | 0 | |
| Fair Value | 1,001 | |
| U.S. Government sponsored entities | ||
| Schedule of Available-for-sale Securities | ||
| Amortized Cost | 6,574 | 7,951 |
| Unrealized Gains | 0 | 0 |
| Unrealized Losses | (5) | (9) |
| Fair Value | 6,569 | 7,942 |
| Municipal obligations | ||
| Schedule of Available-for-sale Securities | ||
| Amortized Cost | 2,480 | 4,989 |
| Unrealized Gains | 2 | 5 |
| Unrealized Losses | 0 | 0 |
| Fair Value | $ 2,482 | $ 4,994 |
Marketable Securities - Avail35
| Marketable Securities - Available-for-sale by Maturity Date (Details) $ in Thousands | Jan. 30, 2016USD ($) |
| Schedule of Available-for-sale Securities | |
| Less than 12 months | $ 7,815 |
| Greater than 12 months | 16,656 |
| Total | 24,471 |
| Certificates of deposit | |
| Schedule of Available-for-sale Securities | |
| Less than 12 months | 6,564 |
| Greater than 12 months | 8,856 |
| Total | 15,420 |
| U.S. Government sponsored entities | |
| Schedule of Available-for-sale Securities | |
| Less than 12 months | 0 |
| Greater than 12 months | 6,569 |
| Total | 6,569 |
| Municipal obligations | |
| Schedule of Available-for-sale Securities | |
| Less than 12 months | 1,251 |
| Greater than 12 months | 1,231 |
| Total | $ 2,482 |
Business Combination (Details)
| Business Combination (Details) - USD ($) $ in Thousands | 18 Months Ended | ||
| Jan. 30, 2016 | May. 02, 2015 | Aug. 11, 2014 | |
| Business Acquisition [Line Items] | |||
| Goodwill | $ 5,316 | $ 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 Manuf37
| Sale of Theatre Rigging Manufacturing (Details) - Theatre Rigging Manufacturing [Member] - USD ($) $ in Thousands | 1 Months Ended | |
| Aug. 02, 2014 | 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 | 9 Months Ended |
| Jan. 30, 2016USD ($) | |
| Goodwill | |
| Balance as of May 2, 2015 | $ 5,269 |
| Acquisition, net of cash required | 213 |
| Foreign currency translation | (166) |
| Balance as of January 30, 2016 | 5,316 |
| Live Events | |
| Goodwill | |
| Balance as of May 2, 2015 | 2,321 |
| Acquisition, net of cash required | 0 |
| Foreign currency translation | (60) |
| Balance as of January 30, 2016 | 2,261 |
| Commerical | |
| Goodwill | |
| Balance as of May 2, 2015 | 721 |
| Acquisition, net of cash required | 0 |
| Foreign currency translation | (4) |
| Balance as of January 30, 2016 | 717 |
| Transportation | |
| Goodwill | |
| Balance as of May 2, 2015 | 91 |
| Acquisition, net of cash required | 0 |
| Foreign currency translation | (58) |
| Balance as of January 30, 2016 | 33 |
| International | |
| Goodwill | |
| Balance as of May 2, 2015 | 2,136 |
| Acquisition, net of cash required | 213 |
| Foreign currency translation | (44) |
| Balance as of January 30, 2016 | $ 2,305 |
Inventories (Details)
| Inventories (Details) - USD ($) $ in Thousands | Jan. 30, 2016 | May. 02, 2015 |
| Inventory Disclosure [Abstract] | ||
| Raw materials | $ 29,486 | $ 28,325 |
| Work-in-process | 8,480 | 7,512 |
| Finished goods | 30,747 | 28,552 |
| Inventories | $ 68,713 | $ 64,389 |
Receivables (Details)
| Receivables (Details) - USD ($) $ in Thousands | 9 Months Ended | |
| Jan. 30, 2016 | May. 02, 2015 | |
| Receivables | ||
| Allowance for doubtful accounts | $ 2,206 | $ 2,316 |
| Retainage on construction-type contracts, expected to be collected in one year | 836 | 385 |
| Financing Receivable | ||
| Receivables | ||
| Long-term contracts and lease receivables, present value | 8,726 | 9,874 |
| Long-term contracts and lease receivables, face amount | $ 9,148 | $ 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) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
| Jan. 30, 2016 | May. 02, 2015 | Jan. 30, 2016 | |
| Warranties: | |||
| Identified warranty obligations accrued | $ 7,692 | ||
| Remaining accrual | 26,481 | $ 26,481 | $ 29,100 |
| Movement in Standard Product Warranty Accrual | |||
| Beginning accrued warranty costs | 26,481 | ||
| Warranties issued during the period | 8,696 | ||
| Settlements made during the period | (13,769) | ||
| Changes in accrued warranty costs for pre-existing warranties during the period, including expirations | 7,692 | ||
| Ending accrued warranty costs | $ 29,100 | 26,481 | |
| 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 | ||
| Performance guarantees | Letter of credit and bank guarantees agreements | |||
| Guarantees: | |||
| Performance guarantees outstanding | 8,183 | ||
| Performance guarantees | Surety bonds | |||
| Guarantees: | |||
| Performance guarantees outstanding | 64,302 | ||
| Out-of-Home Product Application | |||
| Warranties: | |||
| Identified warranty obligations accrued | $ 5,600 | 1,200 | |
| Remaining accrual | 3,500 | $ 3,500 | |
| Movement in Standard Product Warranty Accrual | |||
| Changes in accrued warranty costs for pre-existing warranties during the period, including expirations | 5,600 | $ 1,200 | |
| Ending accrued warranty costs | $ 3,500 |
Commitments and Contingencies42
| Commitments and Contingencies - Leases (Details) - USD ($) $ in Thousands | 9 Months Ended | |
| Jan. 30, 2016 | Jan. 31, 2015 | |
| Operating Leased Assets | ||
| Operating leases, rent expense | $ 2,023 | $ 2,048 |
| Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity | ||
| 2,015 | 692 | |
| 2,016 | 1,859 | |
| 2,017 | 789 | |
| 2,018 | 354 | |
| 2,019 | 196 | |
| Total | 3,890 | |
| 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 Contingencies43
| Commitments and Contingencies - Purchase Commitments (Details) $ in Thousands | Jan. 30, 2016USD ($) |
| Commitments and Contingencies Disclosure [Abstract] | |
| Conditional purchase commitment | $ 600 |
| Purchase Obligation, Fiscal Year Maturity | |
| 2,015 | 1,276 |
| 2,016 | 1,090 |
| 2,017 | 295 |
| 2,018 | 100 |
| 2,019 | 0 |
| Total | $ 2,761 |
Income Taxes (Details)
| Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | |
| Jan. 30, 2016 | Jan. 31, 2015 | |
| Income Tax Disclosure [Abstract] | ||
| Unrecognized tax benefits that would affect our effective tax rate if recognized | $ 2,986 | |
| Tax benefit due to recognition of research tax credits | $ 2,000 | $ 1,300 |
Fair Value Measurement (Details
| Fair Value Measurement (Details) - USD ($) $ in Thousands | Jan. 30, 2016 | May. 02, 2015 |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Available-for-sale securities: | $ 24,471 | $ 25,346 |
| Certificates of deposit | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Available-for-sale securities: | 15,420 | 11,409 |
| U.S. Government securities | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Available-for-sale securities: | 1,001 | |
| U.S. Government sponsored entities | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Available-for-sale securities: | 6,569 | 7,942 |
| Municipal obligations | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Available-for-sale securities: | 2,482 | 4,994 |
| Recurring Basis | Estimate of Fair Value | Level 1 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Cash and cash equivalents | 31,677 | 57,284 |
| Restricted cash | 194 | 496 |
| Derivatives-currency forward contract, asset | 0 | |
| Derivatives - currency forward contracts, liability | 0 | |
| Assets, net | 31,871 | 58,781 |
| Recurring Basis | Estimate of Fair Value | Level 1 | Certificates of deposit | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Available-for-sale securities: | 0 | 0 |
| Recurring Basis | Estimate of Fair Value | Level 1 | U.S. Government securities | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Available-for-sale securities: | 1,001 | |
| Recurring Basis | Estimate of Fair Value | 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 | Estimate of Fair Value | Level 1 | Municipal obligations | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Available-for-sale securities: | 0 | 0 |
| Recurring Basis | Estimate of Fair Value | 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 | 187 | |
| Derivatives - currency forward contracts, liability | (283) | |
| Assets, net | 24,658 | 24,062 |
| Recurring Basis | Estimate of Fair Value | Level 2 | Certificates of deposit | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Available-for-sale securities: | 15,420 | 11,409 |
| Recurring Basis | Estimate of Fair Value | Level 2 | U.S. Government securities | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Available-for-sale securities: | 0 | |
| Recurring Basis | Estimate of Fair Value | Level 2 | U.S. Government sponsored entities | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Available-for-sale securities: | 6,569 | 7,942 |
| Recurring Basis | Estimate of Fair Value | Level 2 | Municipal obligations | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Available-for-sale securities: | 2,482 | 4,994 |
| Recurring Basis | Reported Value | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Cash and cash equivalents | 31,677 | 57,284 |
| Restricted cash | 194 | 496 |
| Derivatives-currency forward contract, asset | 187 | |
| Derivatives - currency forward contracts, liability | (283) | |
| Assets, net | 56,529 | 82,843 |
| Recurring Basis | Reported Value | Certificates of deposit | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Available-for-sale securities: | 15,420 | 11,409 |
| Recurring Basis | Reported Value | U.S. Government securities | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Available-for-sale securities: | 1,001 | |
| Recurring Basis | Reported Value | U.S. Government sponsored entities | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Available-for-sale securities: | 6,569 | 7,942 |
| Recurring Basis | Reported Value | Municipal obligations | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
| Available-for-sale securities: | $ 2,482 | $ 4,994 |
Derivative Financial Instrume46
| Derivative Financial Instruments (Details) € in Thousands, £ in Thousands, SGD in Thousands, PLN in Thousands, CAD in Thousands, BRL in Thousands, AUD in Thousands, $ in Thousands | Jan. 30, 2016CAD | Jan. 30, 2016BRL | Jan. 30, 2016AUD | Jan. 30, 2016PLN | Jan. 30, 2016USD ($) | Jan. 30, 2016EUR (€) | Jan. 30, 2016SGD | Jan. 30, 2016GBP (£) | May. 02, 2015CAD | May. 02, 2015BRL | May. 02, 2015AUD | May. 02, 2015PLN | May. 02, 2015USD ($) | May. 02, 2015EUR (€) | May. 02, 2015SGD | May. 02, 2015GBP (£) |
| U.S. Dollars/Australian Dollars | ||||||||||||||||
| Derivative | ||||||||||||||||
| Foreign Currency Exchange Forward Contracts: | AUD 5,696 | $ 4,014 | AUD 1,918 | $ 1,487 | ||||||||||||
| U.S. Dollars/Japanese Yen | ||||||||||||||||
| Derivative | ||||||||||||||||
| Foreign Currency Exchange Forward Contracts: | PLN 0 | 0 | PLN 91,282 | 764 | ||||||||||||
| U.S. Dollars/Canadian Dollars | ||||||||||||||||
| Derivative | ||||||||||||||||
| Foreign Currency Exchange Forward Contracts: | CAD 411 | 304 | CAD 4,923 | 4,129 | ||||||||||||
| U.S. Dollars/British Pounds | ||||||||||||||||
| Derivative | ||||||||||||||||
| Foreign Currency Exchange Forward Contracts: | 1,799 | £ 1,185 | 1,679 | £ 1,123 | ||||||||||||
| U.S. Dollars/Singapore Dollars | ||||||||||||||||
| Derivative | ||||||||||||||||
| Foreign Currency Exchange Forward Contracts: | 261 | SGD 356 | 1,176 | SGD 1,601 | ||||||||||||
| U.S. Dollars/New Zealand Dollars | ||||||||||||||||
| Derivative | ||||||||||||||||
| Foreign Currency Exchange Forward Contracts: | BRL 83 | 52 | BRL 0 | 0 | ||||||||||||
| U.S. Dollars/Euros | ||||||||||||||||
| Derivative | ||||||||||||||||
| Foreign Currency Exchange Forward Contracts: | 405 | € 360 | (229) | € (174) | ||||||||||||
| U.S. Dollars/Swiss Franc | ||||||||||||||||
| Derivative | ||||||||||||||||
| Foreign Currency Exchange Forward Contracts: | $ 724 | € 696 | $ 5,662 | € 5,500 |
Subsequent Events (Details)
| Subsequent Events (Details) - $ / shares | Mar. 04, 2016 | Jan. 30, 2016 | Jan. 31, 2015 | Jan. 30, 2016 | Jan. 31, 2015 |
| Subsequent Event [Line Items] | |||||
| Cash dividend declared per share (in dollars per share) | $ 0.10 | $ 0.10 | $ 0.30 | $ 0.30 | |
| Subsequent Event [Member] | |||||
| Subsequent Event [Line Items] | |||||
| Cash dividend declared per share (in dollars per share) | $ 0.10 |