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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Jan. 31, 2021
Feb. 02, 2020
Cash flows from operating activities:    
Net income (loss) $ 1,733,000 $ (841,000)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation 5,203,000 5,880,000
Amortization 350,000 530,000
Stock-based compensation 766,000 831,000
Asset impairments   13,639,000
Reversal of contingent consideration associated with discontinued operation   (6,081,000)
Deferred income taxes 3,878,000 (1,626,000)
Gain on disposal of equipment   (275,000)
Realized loss on short-term investments available for sale 6,000  
(Income) loss from investment in unconsolidated joint venture (31,000) 59,000
Foreign currency exchange loss (gain) 1,554,000 (15,000)
Changes in assets and liabilities:    
Accounts receivable (10,951,000) (2,885,000)
Inventories (9,067,000) (7,016,000)
Other current assets (709,000) (527,000)
Other assets (57,000) 159,000
Accounts payable – trade 19,615,000 (2,475,000)
Deferred revenue (274,000) (1,000)
Accrued expenses and deferred compensation 7,920,000 542,000
Accrued restructuring costs   (124,000)
Income taxes 1,715,000 (293,000)
Net cash provided by (used in) operating activities 21,651,000 (519,000)
Cash flows from investing activities:    
Capital expenditures (4,320,000) (4,072,000)
Proceeds from the sale of equipment 12,000 672,000
Investment in unconsolidated joint venture (90,000)  
Proceeds from the maturity of short-term investments (Held to Maturity) 3,450,000 5,000,000
Purchase of short-term and long-term investments (Held to Maturity) (7,440,000) (5,397,000)
Purchase of short-term investments (Available for Sale) (5,036,000) (7,532,000)
Proceeds from the sale of short-term investments (Available for Sale) 455,000  
Proceeds from the sale of long-term investments (rabbi trust) 117,000  
Purchase of long-term investments (rabbi trust) (438,000) (707,000)
Net cash used in investing activities (13,290,000) (12,036,000)
Cash flows from financing activities:    
Payments associated with lines of credit (30,772,000)  
Payments associated with Paycheck Protection Program Loan (7,606,000)  
Dividends paid (3,937,000) (3,786,000)
Common stock repurchased   (728,000)
Cash paid for acquisition of business   (1,532,000)
Proceeds from subordinated loan payable associated with the noncontrolling interest of discontinued operation   250,000
Capital contribution from noncontrolling interest associated with discontinued operation   360,000
Common stock surrendered for withholding taxes payable (25,000) (51,000)
Payments of debt issuance costs (15,000)  
Net cash used in financing activities (42,355,000) (5,487,000)
Effect of exchange rate changes on cash and cash equivalents 191,000 (94,000)
Decrease in cash and cash equivalents (33,803,000) (18,136,000)
Cash and cash equivalents at beginning of period 69,790,000 40,008,000
Cash and cash equivalents at end of period [1] $ 35,987,000 $ 21,872,000
[1] As of February 2, 2020, cash and cash equivalents totaled $21.9 million, of which $21.6 million and $232,000 were classified as (i) cash and cash equivalents and (ii) within current assets – discontinued operation, respectively, in the accompanying Consolidated Balance Sheets.