Note 4 - Debt

12 Months Ended

Apr. 28, 2018

Notes to Financial Statements

Debt Disclosure [Text Block]

4. DEBT

At

April 28, 2018,

a subsidiary of the Company maintained unsecured revolving credit facilities with banks aggregating

$100

million (the “Credit Facilities”). The Credit Facilities expire from

October 3, 2020

to

June 18, 2021

and any borrowings would currently bear interest at

.9%

above

one

-month LIBOR. There were

no

borrowings outstanding under the Credit Facilities at

April 28, 2018

or

April 29, 2017.

At

April 28, 2018,

$2.1

million of the Credit Facilities was reserved for standby letters of credit and

$97.9

million was available for borrowings.

The Credit Facilities require the subsidiary to maintain certain financial ratios, including debt to net worth and debt to EBITDA (as defined in the Credit Facilities), and contain other restrictions,

none

of which are expected to have a material effect on our operations or financial position. At

April 28, 2018,

we were in compliance with all loan covenants.