Note 6 - New Accounting Pronouncements	9 Months Ended
Jan. 28, 2017
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	6 . NEW ACCOUNTING PRONOUNCEMENTS In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2016 - 09, “Compensation-Stock Compensation: Improvements to Employee Share-Based Payment Accounting” (“ASU 2016 - 09”). This amendment addresses several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. ASU 2016 - 09 is effective for our fiscal year beginning April 30, 2017. Early adoption is permitted. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements; however, adoption is not expected to have a material impact on our financial position, results of operations or cash flows. In February 2016, the FASB issued Accounting Standards Update No. 2016 - 02, “Leases” (“ASU 2016 - 02”). ASU 2016 - 02 requires the lease rights and obligations arising from lease contracts, including existing and new arrangements, to be recognized as assets and liabilities on the balance sheet. ASU 2016 - 02 is effective for our fiscal year beginning April 28, 2019. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. In November 2015, the FASB issued Accounting Standards Update No. 2015 - 17, “Balance Sheet Classification of Deferred Taxes” (“ASU 2015 - 17”). ASU 2015 - 17 requires companies to classify all deferred tax liabilities and assets as noncurrent on the balance sheet. ASU 2015 - 17 is effective for our fiscal year beginning April 30, 2017. If implemented, our current deferred tax asset would be reclassified to noncurrent in the consolidated balance sheet. ASU 2015 - 17 has not yet been adopted. In May 2014, the FASB issued Accounting Standards Update No. 2014 - 09, “Revenue from Contracts with Customers” (“ASU 2014 - 09”). ASU 2014 - 09 requires an entity to recognize revenue in an amount that reflects the consideration it expects to receive in exchange for goods or services. On August 12, 2015, the FASB issued ASU 2015 - 14 which deferred the effective date of ASU 2014 - 09 by one year and is effective for our fiscal year beginning April 29, 2018. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements ; however, adoption is not expected to have a material impact on our financial position, results of operations or cash flows.

NEW ACCOUNTING PRONOUNCEMENTS

March

2016,

the Financial Accounting Standards Board (“FASB”)

issued Accounting Standards Update

2016

09,

“Compensation-Stock Compensation: Improvements to Employee Share-Based Payment Accounting” (“ASU

2016

09”).

This amendment addresses several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. ASU

2016

is effective for our fiscal year beginning

April

30,

2017.

Early adoption is permitted. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements; however, adoption is not expected to have a material impact on our financial position, results of operations or cash flows.

February

2016,

the FASB issued Accounting Standards Update No.

2016

02,

“Leases” (“ASU

2016

02”).

ASU

2016

requires the lease rights and obligations arising from lease contracts, including existing and new arrangements, to be recognized as assets and liabilities on the balance sheet. ASU

2016

is effective for our fiscal year beginning

April

28,

2019.

We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements.

November

2015,

the FASB issued Accounting Standards Update No.

2015

17,

“Balance Sheet Classification of Deferred Taxes” (“ASU

2015

17”).

ASU

2015

requires companies to classify all deferred tax liabilities and assets as noncurrent on the balance sheet. ASU

2015

is effective for our fiscal year beginning

April

30,

2017.

If implemented, our current deferred tax asset would be reclassified to noncurrent in the consolidated balance sheet. ASU

2015

has not yet been adopted.

May

2014,

the FASB issued Accounting Standards Update No.

2014

09,

“Revenue from Contracts with Customers” (“ASU

2014

09”).

ASU

2014

requires an entity to recognize revenue in an amount that reflects the consideration it expects to receive in exchange for goods or services. On

August

12,

2015,

the FASB issued ASU

2015

which deferred the effective date of ASU

2014

one

year and is effective for our fiscal year beginning

April

29,

2018.

We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements

; however, adoption is not expected to have a material impact on our financial position, results of operations or cash flows.