Asset Purchase (Tables)

6 Months Ended

Oct. 31, 2014

Estimated Preliminary Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated preliminary fair values of the assets acquired and liabilities assumed at the acquisition date, as well as measurement period adjustments as described above (in thousands):

	May 5, 2014 (As		Measurement
	Initially		Period			October 31, 2014
	Reported)		Adjustments			(As Adjusted)
Accounts receivable	$	2,614	$	10		$	2,624
Inventories		2,430		449			2,879
Total current assets		5,044		459			5,503
Property, plant, and equipment		4,243	—				4,243
Goodwill		15,183		(1,073	)		14,110
Intangibles assets:
Customer relationships	—			840			840
Order backlog	—			150			150
Other assets		8	—				8
Total assets acquired		24,478		376			24,854
Accounts payable		358		12			370
Accrued expenses		25		3			28
Accrued payroll	—			361			361
Total liabilities assumed		383		376			759
	$	24,095	$	—		$	24,095

Identifiable Intangible Assets Acquired and Respective Estimated Lives

The following are the identifiable intangible assets acquired and their respective estimated lives (dollars in thousands):

			Estimated Life
	Amount		(In years)
Customer relationships	$	840		7.0
Order backlog		150		1.0
	$	990