Summary of Significant Accounting Policies (Tables)

12 Months Ended

Apr. 30, 2019

Schedule Of Allowance For Doubtful Accounts

The activity in the allowance for doubtful accounts for each of the years ended April 30 was:



$ in thousands	2019			2018
Balance at beginning of year	$	384		$	191
Bad debt provision	65			344
Doubtful accounts written off (net)	(88		)	(151		)
Balance at end of year	$	361		$	384

Schedule of Property, Plant and Equipment

Property, plant and equipment consisted of the following at April 30:



$ in thousands	2019			2018			Useful Life
Land	$	41		$	41		N/A
Building and improvements	16,594			16,489			10-40 years
Machinery and equipment	40,041			38,118			5-10 years
Total	56,676			54,648
Less accumulated depreciation	(40,214		)	(39,987		)
Net property, plant and equipment	$	16,462		$	14,661

Fair Value Hierarchy for Assets and Liabilities

The following tables summarize the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring and nonrecurring basis as of April 30, 2019 and 2018 (in thousands):



	2019
	Level 1		Level 2		Level 3		Total
Financial Assets
Trading securities held in non-qualified compensation plans ⁽¹⁾	$	3,057	$	—	$	—	$	3,057
Cash surrender value of life insurance policies ⁽¹⁾	—		76		—		76
Total	$	3,057	$	76	$	—	$	3,133
Financial Liabilities
Non-qualified compensation plans ⁽²⁾	$	—	$	3,519	$	—	$	3,519
Interest rate swap derivatives	—		1		—		1
Total	$	—	$	3,520	$	—	$	3,520



	2018
	Level 1		Level 2		Level 3		Total
Financial Assets
Trading securities held in non-qualified compensation plans⁽¹⁾	$	4,050	$	—	$	—	$	4,050
Cash surrender value of life insurance policies⁽¹⁾	—		65		—		65
Total	$	4,050	$	65	$	—	$	4,115
Financial Liabilities
Non-qualified compensation plans ⁽²⁾	$	—	$	4,462	$	—	$	4,462
Interest rate swap derivatives	—		5		—		5
Total	$	—	$	4,467	$	—	$	4,467


(1)	The Company maintains two non-qualified compensation plans which include investment assets in a rabbi trust. These assets consist of marketable securities, which are valued using quoted market prices multiplied by the number of shares owned, and life insurance policies, which are valued at their cash surrender value.


(2)	Plan liabilities are equal to the individual participants’ account balances and other earned retirement benefits.

Reconciliation of Basic to Diluted Weighted Average Shares Outstanding

The following is a reconciliation of basic to diluted weighted average common shares outstanding:



Shares in thousands	2019	2018
Weighted average common shares outstanding
Basic	2,742	2,720
Dilutive effect of stock options and RSUs	52	57
Weighted average common shares outstanding—diluted	2,794	2,777