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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Apr. 30, 2023
Accounting Policies [Abstract]  
Summary of Estimated Useful Lives A summary of the estimated useful lives is as follows:

 

Description

 

Useful Life

Machinery and equipment

 

2 to 10 years

Computer and other equipment

 

2 to 7 years

Leasehold improvements

 

10 to 20 years

Schedule of Trade Channel Net Sales

The following table sets forth certain information regarding trade channel net sales for the fiscal years ended April 30, 2023, 2022, and 2021 (dollars in thousands):

 

 

2023

 

 

2022

 

 

$ Change

 

 

% Change

 

 

2021

 

e-commerce channels

 

$

87,219

 

 

$

97,418

 

 

$

(10,199

)

 

 

-10.5

%

 

$

108,726

 

Traditional channels

 

 

103,990

 

 

 

150,108

 

 

 

(46,118

)

 

 

-30.7

%

 

 

167,961

 

Total net sales

 

$

191,209

 

 

$

247,526

 

 

$

(56,317

)

 

 

-22.8

%

 

$

276,687

 

Schedule of Geographic Makeup of Net Sales The following table sets forth certain information regarding geographic makeup of net sales included in the above table for the fiscal years ended April 30, 2023, 2022, and 2021 (dollars in thousands):

 

 

2023

 

 

2022

 

 

$ Change

 

 

% Change

 

 

2021

 

Domestic net sales

 

$

182,299

 

 

$

234,803

 

 

$

(52,504

)

 

 

-22.4

%

 

$

267,573

 

International net sales

 

 

8,910

 

 

 

12,723

 

 

 

(3,813

)

 

 

-30.0

%

 

 

9,114

 

Total net sales

 

$

191,209

 

 

$

247,526

 

 

$

(56,317

)

 

 

-22.8

%

 

$

276,687

 

Schedule of Net Sales in Product Categories

The following table sets forth certain information regarding net sales in our shooting sports and outdoor lifestyle categories for the fiscal years ended April 30, 2023, 2022, and 2021 (dollars in thousands):

 

 

 

2023

 

 

2022

 

 

$ Change

 

 

% Change

 

 

2021

 

Shooting sports

 

$

88,885

 

 

$

128,180

 

 

$

(39,295

)

 

 

-30.7

%

 

$

165,341

 

Outdoor lifestyle

 

 

102,324

 

 

 

119,346

 

 

 

(17,022

)

 

 

-14.3

%

 

 

111,346

 

Total net sales

 

$

191,209

 

 

$

247,526

 

 

$

(56,317

)

 

 

-22.8

%

 

$

276,687

 

Change in Accrued Warranties Recorded as Non-Current Liability

The following table sets forth the change in accrued warranties, a portion of which is recorded as a non-current liability, in the fiscal years ended April 30, 2023, 2022, and 2021 (in thousands):

 

 

 

April 30, 2023

 

 

April 30, 2022

 

 

April 30, 2021

 

 Beginning balance

 

 

786

 

 

 

717

 

 

 

336

 

Warranties issued and adjustments to provisions

 

 

1,419

 

 

 

399

 

 

 

1,083

 

Warranties assumed in acquisition

 

 

 

 

 

150

 

 

 

 

Warranty claims

 

 

(1,239

)

 

 

(480

)

 

 

(702

)

 Ending balance

 

 

966

 

 

 

786

 

 

 

717

 

Reconciliation of Net (Loss)/Income Amounts and Weighted Average Number of Common and Common Equivalent Shares Used to Determine Basic and Diluted (Loss)/Earnings per Common Share

The following table provides a reconciliation of the net (loss)/income amounts and weighted average number of common and common equivalent shares used to determine basic and diluted (loss)/earnings per common share (in thousands, except per share data):

 

 

For the Years Ended April 30,

 

 

2023

 

 

2022

 

 

2021

 

 

Net

 

 

 

 

 

Per Share

 

 

Net

 

 

 

 

 

Per Share

 

 

Net

 

 

 

 

 

Per Share

 

 

Loss

 

 

Shares

 

 

Amount

 

 

Loss

 

 

Shares

 

 

Amount

 

 

Income

 

 

Shares

 

 

Amount

 

Basic (loss)/earnings

$

 

(12,024

)

 

 

13,372

 

 

$

 

(0.90

)

 

$

 

(64,880

)

 

 

13,930

 

 

$

 

(4.66

)

 

$

 

18,405

 

 

 

13,997

 

 

$

 

1.31

 

Effect of dilutive stock awards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

228

 

 

 

 

(0.02

)

Diluted (loss)/earnings

$

 

(12,024

)

 

 

13,372

 

 

$

 

(0.90

)

 

$

 

(64,880

)

 

 

13,930

 

 

$

 

(4.66

)

 

$

 

18,405

 

 

 

14,225

 

 

$

 

1.29