v3.25.2
Income Taxes (Tables)
 12 Months Ended
Apr. 30, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The benefit from income taxes consisted of the following (in thousands):

 

   Fiscal Year Ended
April 30,		 
   2025   2024 
Current:        
Federal  $137   $(127)
State   374    (3)
Current provision (benefit)   511    (130)
Deferred:          
Federal   (9,634)   - 
State   (2,419)   - 
Deferred tax benefit   (12,053)   - 
           
Total benefit  $(11,542)  $(130)
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The following table reconciles the reported income tax provision with the amount computed using the federal statutory income tax rate (in thousands):  

 

    Fiscal Year Ended
April 30,		  
    2025     2024  
Statutory rate   $ 2,550     $ 1,147  
State and local tax     223       167  
Valuation allowance on deferred tax assets     (13,874 )     (1,060 )
Nondeductible expenses     5       4  
FDII     (81 )     -  
Uncertain tax positions     -       (127 )
Nontaxable life insurance cash value increase     (65 )     (63 )
Taxable life insurance gain     -       -  
Capital loss     -       (8 )
Stock compensation     (153 )     106  
Tax credits     (319 )     (16 )
Change in tax rate     173       (244 )
Other items     (1 )     (36 )
Total benefit   $ (11,542 )   $ (130 )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of deferred taxes are as follows (in thousands):

 

   Fiscal Year Ended
April 30,		 
   2025   2024 
Deferred tax assets:        
Employee benefits  $2,810   $2,826 
Inventory   2,876    2,536 
Accounts receivable   144    70 
Tax credits   1,945    2,173 
Other assets   301    303 
Deferred costs   1,511    681 
Lease liability   2,128    1,547 
Capital loss carry-forward   194    212 
Research & development   2,247    1,104 
Net operating loss carryforwards   2,276    6,320 
Total deferred tax asset   16,432    17,772 
Deferred tax liabilities:          
Property, plant and equipment   (74)   (191)
Right of use asset   (2,104)   (1,510)
Other liabilities   (77)   (61)
Deferred state income tax   (779)   (791)
Net deferred tax asset   13,398    15,219 
Valuation allowance   (1,353)   (15,227)
Net deferred tax asset (liability)  $12,045   $(8)
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

A reconciliation of the beginning and ending amounts of unrecognized tax benefits, is as follows (in thousands):

 

   2025   2024 
Balance at the beginning of the fiscal year  $111   $230 
Additions based on positions taken in the current year   -    - 
Additions based on positions taken in prior years   45    - 
Decreases based on positions taken in prior years   (12)   - 
Lapse in statute of limitations   -    (119)
Balance at the end of the fiscal year  $144   $111