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Line of Credit
12 Months Ended
May 03, 2014
Debt Disclosure [Abstract]  
Line of Credit
Line of Credit
 
Our Amended and Restated Credit Agreement, as amended, has a maturity date of September 21, 2017. The credit facility is in the maximum principal amount of $100.0 million, with an option to increase the principal amount by up to an additional $50.0 million, subject to customary conditions and approval of the lender(s) providing new commitment(s). The maturity date is September 2017. The credit facility provides for variable rates of interest based on the type of borrowing and the Company's debt to EBITDA financial ratio. At May 3, 2014, the interest rate on the credit facility was 1.5% plus LIBOR. The Amended and Restated Credit Agreement is guaranteed by certain of our U.S. subsidiaries. At May 3, 2014, we were in compliance with the covenants of the agreement. During fiscal 2014, we had borrowings of $38.0 million and payments of $34.6 million, which includes interest of $1.1 million under this credit facility. As of May 3, 2014, there were outstanding balances against the credit facility of $48.0 million.  There was $52.0 million available to borrow under the credit facility as of May 3, 2014, which does not include the option to increase the principal amount. We believe the fair value approximates the carrying amount as of May 3, 2014.