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Note 14 - Restatement

12 Months Ended

Apr. 27, 2024

14.

RESTATEMENT

The Company identified corrections required to be made to its consolidated statements of cash flows for Fiscal 2023 and Fiscal 2022 and all quarterly periods within each of the three year period ended April 27, 2024, as the controls did not operate at a level precise enough to detect errors in certain calculations within the Consolidated Statements of Cash Flows and the presentation of right-of-use assets obtained in exchange for lease liabilities as supplemental non-cash items. These corrections do not impact the overall financial statements and “Net Cash Provided By Operating Activities”. These corrections do not impact the Company’s overall cash position, its consolidated balance sheets, its consolidated statements of income, its consolidated statements of comprehensive income, or its consolidated statements of changes in stockholders’ equity as of or for Fiscal 2023, Fiscal 2022 and all quarterly periods within each of the three year period ended April 27, 2024.

A summary of the impact on the consolidated statement of cash flows is as follows (in thousands):

	Fiscal Year Ended April 29, 2023									Fiscal Year Ended April 30, 2022
Operating Activities:	As Reported			Adjustments			As Restated			As Reported			Adjustments			As Restated
Operating lease right-of-use asset	$	(23,495	)	$	23,495		$	-		$	(6,054	)	$	6,054		$	-
Prepaid and other assets		15,472			(7,197	)		8,275			(5,084	)		(8,713	)		(13,797	)
Accrued and other liabilities		(4,256	)		7,197			2,941			(12,444	)		8,713			(3,731	)
Operating lease liabilities		10,281			(23,495	)		(13,214	)		(7,170	)		(6,054	)		(13,224	)
Net cash provided by operating activities		161,665			-			161,665			133,133			-			133,133
Right-of- use assets obtained in exchange for lease liabilities	$	-		$	23,495			23,495		$	-		$	6,054		$	6,054

	Three Months Ended July 29, 2023									Six Months Ended October 28, 2023									Nine Months Ended January 27, 2024
Operating Activities:	As Reported			Adjustments			As Restated			As Reported			Adjustments			As Restated			As Reported			Adjustments			As Restated
Operating lease right-of-use asset	$	(3,589	)	$	3,589		$	-		$	(11,877	)	$	11,877		$	-		$	(27,905	)	$	27,905		$	-
Prepaid and other assets		1,475			84			1,559			(600	)		(5,817	)		(6,417	)		(3,186	)		(8,600	)		(11,786	)
Accrued and other liabilities		9,562			(84	)		9,478			(4,205	)		5,817			1,612			(7,485	)		8,600			1,115
Operating lease liabilities		287			(3,589	)		(3,329	)		3,586			(11,877	)		(8,291	)		16,629			(27,905	)		(11,276	)
Net cash provided by operating activities		70,143			-			70,143			102,059			-			102,059			137,465			-			137,465
Right-of-use assets obtained in exchange for lease liabilities	$	-		$	3,589		$	3,589		$	-		$	11,877		$	11,877		$	-		$	27,905		$	27,905

	Three Months Ended July 30, 2022									Six Months Ended October 29, 2022									Nine Months Ended January 28, 2023
Operating Activities:	As Reported			Adjustments			As Restated			As Reported			Adjustments			As Restated			As Reported			Adjustments			As Restated
Operating lease right-of-use asset	$	(12,468	)	$	12,468		$	-		$	(16,132	)	$	16,132		$	-		$	(19,539	)	$	19,539		$	-
Prepaid and other assets		11,656			53			11,709			3,187			(770	)		2,417			1,832			2,264			4,096
Accrued and other liabilities		(344	)		(53	)		(397	)		(1,566	)		770			(796	)		5,271			(2,264	)		3,007
Operating lease liabilities		9,310			(12,468	)		(3,158	)		9,597			(16,132	)		(6,535	)		9,633			(19,539	)		(9,906	)
Net cash provided by operating activities		40,617			-			40,617			82,238			-			82,238			112,253			-			112,253
Right-of-use assets obtained in exchange for lease liabilities	$	-		$	12,468		$	12,468		$	-		$	16,132		$	16,132		$	-		$	19,539		$	19,539

	Three Months Ended July 31, 2021									Six Months Ended October 30, 2021									Nine Months Ended January 29, 2022
Operating Activities:	As Reported			Adjustments			As Restated			As Reported			Adjustments			As Restated			As Reported			Adjustments			As Restated
Operating lease right-of-use asset	$	(924	)	$	924		$	-		$	(1,594	)	$	1,594		$	-		$	(5,827	)	$	5,827		$	-
Prepaid and other assets		(106	)		1,506			1,400			510			(2,472	)		(1,962	)		(4,730	)		(2,489	)		(7,219	)
Accrued and other liabilities		12,509			(1,506	)		11,003			(9,545	)		2,472			(7,073	)		(7,724	)		2,489			(5,235	)
Operating lease liabilities		(2,192	)		(924	)		(3,116	)		(5,093	)		(1,594	)		(6,687	)		(4,250	)		(5,827	)		(10,077	)
Net cash provided by operating activities		56,658			-			56,658			85,964			-			85,964			92,552			-			92,552
Right-of-use assets obtained in exchange for lease liabilities	$	-		$	924		$	924		$	-		$	1,594		$	1,594		$	-		$	5,827		$	5,827