CONTRACT (LIABILITIES) ASSETS, NET (Tables)

6 Months Ended

Oct. 31, 2022

CONTRACT (LIABILITIES) ASSETS, NET (Tables) [Line Items]

Costs and Estimated Earnings in Excess of Billings, Net [Table Text Block]

At October 31, 2022 and April 30, 2022, contract (liabilities) assets, net, consisted of the following:

	October 31, 2022			April 30, 2022
				Revised
	(In thousands)
Contract Assets	$	9,473		$	8,857
Contract Liabilities		(16,976	)		(11,098	)
Net (liability) asset	$	(7,503	)	$	(2,241	)

	April 30, 2022									April 30, 2021									July 31, 2022
	As Filed			Adjustment			Revised			As Filed			Adjustment			Revised			As Filed			Adjustment			Revised
Contract Assets	$	9,977		$	(1,120	)	$	8,857		$	12,640		$	1,820		$	14,460		$	11,750		$	(1,741	)	$	10,009
Contract Liabilities		(12,218	)		1,120			(11,098	)		(10,692	)		(1,820	)		(12,512	)		(12,837	)		1,741			(11,096	)
Net (liability) asset	$	(2,241	)	$	-		$	(2,241	)	$	1,948		$	-		$	1,948		$	(1,087	)	$	-		$	(1,087	)

Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]

The table below sets forth the consolidated balance sheets and consolidated statements of cash flows, including the balances originally as filed, adjustments, and the revised balances for each revised period (in thousands):

	April 30, 2022							April 30, 2021						July 31, 2022
	As Filed		Adjustment			Revised		As Filed		Adjustment		Revised		As Filed		Adjustment			Revised
Consolidated Balance Sheets:
Contract Assets	$	9,977	$	(1,120	)	$	8,857	$	12,640	$	1,820	$	14,460	$	11,750	$	(1,741	)	$	10,009
Total Current Assets		57,130		(1,120	)		56,010		59,371		1,820		61,191		54,402		(1,741	)		52,661
Total Assets		85,880		(1,120	)		84,760		96,708		1,820		98,528		82,833		(1,741	)		81,092
Contract Liabilities		12,218		(1,120	)		11,098		10,692		1,820		12,512		12,837		(1,741	)		11,096
Total Current Liabilities		22,981		(1,120	)		21,861		18,789		1,820		20,609		23,498		(1,741	)		21,757
Total Liabilities		39,192		(1,120	)		38,072		41,299		1,820		43,119		39,151		(1,741	)		37,410

Consolidated Statements of Cash Flows:
Changes in Operating Assets & Liabilities
Contract Assets	$	2,306	$	2,940		$	5,246		$	(2,180	)	$	(2,315	)	$	(4,495	)	*	*	*
Contract Liabilities		1,526		(2,940	)		(1,414	)		7,185			2,315			9,500		*	*	*
Net cash provided by operating activities		4,036		-			4,036			12,157			-			12,157		*	*	*
* No effect on the Company's quarterly report for the period ended July 31, 2022 as the Statement of Cash Flows are condensed

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

	October 31, 2022			April 30, 2022
				(Revised - See Note C)
Identifiable assets:
FEI-NY	$	40,682		$	40,888
FEI-Zyfer		10,756			10,522
less intersegment balances		(124	)		(126	)
Corporate		31,762			33,476
Consolidated identifiable assets	$	83,076		$	84,760

Error Correction, Other [Member]

CONTRACT (LIABILITIES) ASSETS, NET (Tables) [Line Items]

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

The table below sets forth the segment information disclosures in Note 13 to the consolidated financial statements in the Form 10-K and Note G to the condensed consolidated financial statements in the Q1 2023 Form 10-Q, including the balances originally as filed, adjustments, and the revised balances for each revised period (in thousands):

	April 30, 2022							April 30, 2021						July 31, 2022
	As Filed		Adjustment			Revised		As Filed		Adjustment		Revised		As Filed		Adjustment			Revised
Identifiable assets:
FEI-NY	$	42,008	$	(1,120	)	$	40,888	$	45,552	$	1,820	$	47,372	$	42,433	$	(1,741	)	$	40,692
Consolidated identifiable assets		85,880		(1,120	)		84,760		96,708		1,820		98,528		82,833		(1,741	)		81,092