Note 12 - Income Taxes (Tables)
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12 Months Ended |
May 01, 2021 |
Notes Tables |
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Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] |
| | Year Ended | |
| | May 1, 2021 | | | May 2, 2020 | | | April 27, 2019 | |
Domestic | | $ | 10,413 | | | $ | (4,187 | ) | | $ | (8,402 | ) |
Foreign | | | 3,647 | | | | 4,178 | | | | 3,458 | |
Income (loss) before income taxes | | $ | 14,060 | | | $ | (9 | ) | | $ | (4,944 | ) |
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Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
| | Year Ended | |
| | May 1, 2021 | | | May 2, 2020 | | | April 27, 2019 | |
Current: | | | | | | | | | | | | |
Federal | | $ | 507 | | | $ | 625 | | | $ | (2,142 | ) |
State | | | 422 | | | | 297 | | | | 384 | |
Foreign | | | 891 | | | | 761 | | | | 1,151 | |
Deferred: | | | | | | | | | | | | |
Federal | | | 1,216 | | | | (2,028 | ) | | | (2,725 | ) |
State | | | 59 | | | | (321 | ) | | | (390 | ) |
Foreign | | | 39 | | | | 166 | | | | (264 | ) |
| | $ | 3,134 | | | $ | (500 | ) | | $ | (3,986 | ) |
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Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
| | Year Ended | |
| | May 1, 2021 | | | May 2, 2020 | | | April 27, 2019 | |
Computed income tax expense (benefit) at federal statutory rates | | $ | 2,953 | | | $ | (2 | ) | | $ | (1,038 | ) |
Change in uncertain tax positions | | | (34 | ) | | | 4 | | | | (2,600 | ) |
Research and development tax credit | | | (1,047 | ) | | | (1,621 | ) | | | (1,278 | ) |
Other, net | | | 403 | | | | (241 | ) | | | 587 | |
Change in valuation allowances | | | 402 | | | | 482 | | | | (471 | ) |
GILTI | | | (156 | ) | | | 149 | | | | 391 | |
Base Erosion Anti-Abuse Tax (BEAT) | | | (285 | ) | | | 301 | | | | — | |
Stock compensation | | | 355 | | | | 318 | | | | 308 | |
Meals and entertainment | | | 49 | | | | 305 | | | | 248 | |
Dividends paid to retirement plan | | | — | | | | (111 | ) | | | (158 | ) |
State taxes, net of federal benefit | | | 494 | | | | (84 | ) | | | 25 | |
| | $ | 3,134 | | | $ | (500 | ) | | $ | (3,986 | ) |
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Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
| | May 1, 2021 | | | May 2, 2020 | |
Deferred tax assets: | | | | | | | | |
Accrued warranty obligations | | $ | 6,293 | | | $ | 6,202 | |
Vacation accrual | | | 1,222 | | | | 1,753 | |
Deferred maintenance revenue | | | 398 | | | | 987 | |
Allowance for excess and obsolete inventory | | | 1,776 | | | | 1,318 | |
Legal reserve | | | — | | | | 503 | |
Equity compensation | | | 324 | | | | 396 | |
Allowance for doubtful accounts | | | 829 | | | | 546 | |
Inventory capitalization | | | 583 | | | | 822 | |
Accrued compensation and benefits | | | 1,707 | | | | 539 | |
Unrealized loss on foreign currency exchange | | | 85 | | | | — | |
Net operating loss carry forwards | | | 856 | | | | 919 | |
Research and development tax credit carry forwards | | | 516 | | | | 1,975 | |
Lease accounting - lease liability | | | 1,572 | | | | 2,099 | |
Other | | | 1,513 | | | | 1,035 | |
Total deferred tax assets | | | 17,674 | | | | 19,094 | |
Valuation allowance | | | (1,732 | ) | | | (1,189 | ) |
Net deferred tax assets | | | 15,942 | | | | 17,905 | |
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Deferred tax liabilities: | | | | | | | | |
Property and equipment | | | (2,373 | ) | | | (2,141 | ) |
Lease accounting - right of use asset | | | (1,580 | ) | | | (2,103 | ) |
Prepaid expenses | | | (337 | ) | | | (440 | ) |
Intangible assets | | | (69 | ) | | | (317 | ) |
Unrealized gain on foreign currency exchange | | | — | | | | (17 | ) |
Other | | | (49 | ) | | | (68 | ) |
Total deferred tax liabilities | | | (4,408 | ) | | | (5,086 | ) |
Net deferred tax asset | | $ | 11,534 | | | $ | 12,819 | |
| | May 1, 2021 | | | May 2, 2020 | |
Non-current assets | | $ | 11,944 | | | $ | 13,271 | |
Non-current liabilities | | | (410 | ) | | | (452 | ) |
| | $ | 11,534 | | | $ | 12,819 | |
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Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] |
| | May 1, 2021 | | | May 2, 2020 | |
Balance at beginning of year | | $ | 582 | | | $ | 578 | |
Gross increases related to prior period tax positions | | | 21 | | | | 17 | |
Gross decreases related to prior period tax positions | | | (1 | ) | | | (2 | ) |
Gross increases related to current period tax positions | | | 84 | | | | 148 | |
Lapse of statute of limitations | | | (138 | ) | | | (159 | ) |
Balance at end of year | | $ | 548 | | | $ | 582 | |
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