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Quarterly Results of Operations (Unaudited) (Tables)
12 Months Ended
Apr. 30, 2014
Quarterly Results of Operations (Unaudited)  
Schedule of selected unaudited consolidated financial data
 
  Three Months Ended  
 
  July 27,
2013
  October 26,
2013
  January 25,
2014
  April 30,
2014
 
 
  (In thousands except per share data)
 

Year ended April 30, 2014

                         

Revenue

  $ 44,117 (1) $ 64,867   $ 69,221   $ 73,498  

Gross margin

  $ 12,545 (2) $ 23,878 (3) $ 27,052   $ 30,138  

Net (loss) income

  $ (7,210 ) $ 1,655   $ 11,216   $ 8,057 (4)

Net (loss) income per share—basic

  $ (0.32 ) $ 0.07   $ 0.50   $ 0.36  

Net (loss) income per share—diluted

  $ (0.32 ) $ 0.07   $ 0.49   $ 0.35  


 

 
  Three Months Ended  
 
  July 28,
2012
  October 27,
2012
  January 26,
2013
  April 30,
2013
 
 
  (In thousands except per share data)
 

Year ended April 30, 2013

                         

Revenue

  $ 58,677   $ 80,278   $ 47,087 (5) $ 54,110  

Gross margin

  $ 19,505   $ 35,636   $ 19,673 (6) $ 17,722  

Net (loss) income

  $ (1,386 ) $ 8,738   $ 3,869 (6)(7) $ (795 )

Net (loss) income per share—basic(8)

  $ (0.06 ) $ 0.40   $ 0.17   $ (0.04 )

Net (loss) income per share—diluted(8)

  $ (0.06 ) $ 0.39   $ 0.17   $ (0.04 )

(1)
Includes $2.3 million of revenue for the termination settlement for the Global Observer Joint Capability Technology Demonstration contract.

(2)
Includes $1.0 million in severance costs related to the organizational realignment and workforce reduction on May 29, 2013, within the Company's UAS and EES business segments—see Note 10 for additional information.

(3)
Includes $0.7 million in severance costs related to the organizational realignment and workforce reduction on September 26, 2013, within the Company's UAS business segment—see Note 10 for additional information.

(4)
Includes $3.3 million in pre-tax impairment charges related to Tier II assets—see Note 6 for additional information.

(5)
Includes $2.1 million reimbursement of costs for the Global Observer Joint Capability Technology Demonstration contract.

(6)
Includes $4.3 million for a change in estimate of the annual incentive bonus plan accrual and as a result reversed expense recorded in previous quarters.

(7)
Includes $2.9 million reduction to income tax expense for a change in estimate of the effective income tax rate. Also includes $2.1 million in R&D expense for the procurement of government property from the Global Observer Joint Capability Technology Demonstration contract.

(8)
Earnings per share is computed independently for each of the quarters presented. The sum of the quarterly earnings per share do not equal the total earnings per share computed for the year due to rounding.