Segment Reporting (Tables)

3 Months Ended

Jul. 31, 2019

Assets by business segment are presented in the following table as of July 31, 2019 and April 30, 2019 (in thousands):

	As of July 31, 2019						As of April 30, 2019
	Firearms		Outdoor Products & Accessories		Total		Firearms		Outdoor Products & Accessories		Total
Total assets	$	422,536	$	349,919	$	772,455	$	389,719	$	377,070	$	766,789
Property, plant, and equipment, net		162,530		11,825		174,355		170,549		12,719		183,268
Intangibles, net		4,583		82,530		87,113		4,661		87,179		91,840
Goodwill		19,024		163,243		182,267		19,024		163,245		182,269

Schedule of Results by Business Segment

Results by business segment are presented in the following tables for the three months ended July 31, 2019 and 2018 (in thousands):

	For the Three Months Ended July 31, 2019 (a)
	Firearms		Outdoor Products & Accessories			Corporate			Intersegment Eliminations			Total
Revenue from external customers	$	94,555	$	29,110		$	—		$	—		$	123,665
Intersegment revenue		882		4,106			—			(4,988	)		—
Total net sales		95,437		33,216			—			(4,988	)		123,665
Cost of sales		60,039		19,143			—			(3,371	)		75,811
Gross margin		35,398		14,073			—			(1,617	)		47,854
Operating income/(loss)		8,998		(7,112	)		(11,020	)		10,277			1,143
Income tax expense/(benefit)		4,420		(752	)		(3,039	)		—			629

	For the Three Months Ended July 31, 2018 (a)
	Firearms		Outdoor Products & Accessories			Corporate			Intersegment Eliminations			Total
Revenue from external customers	$	104,474	$	34,359		$	—		$	—		$	138,833
Intersegment revenue		784		2,897			—			(3,681	)		—
Total net sales		105,258		37,256			—			(3,681	)		138,833
Cost of sales		70,465		20,374			—			(4,428	)		86,411
Gross margin		34,793		16,882			—			747			52,422
Operating income/(loss)		14,091		(2,418	)		(10,552	)		12,355			13,476
Income tax expense/(benefit)		4,124		(426	)		114			—			3,812

(a)

We allocate all of corporate overhead expenses except for interest and income taxes, such as general and administrative expenses and other corporate-level expenses, to both our Firearms and Outdoor Products & Accessories segments.