Subsequent Events

9 Months Ended

Jan. 28, 2017

Subsequent Events.

Subsequent Events

11. Subsequent Events

On February 1, 2017, the Company acquired an additional 36% interest in our Turkish joint venture, Altoy Savunma Sanayi ve Havacilik Anonim Sirketi (“Altoy”), increasing the Company’s total ownership interest to 85%, for total cash consideration of $625,000. As a result of the Company obtaining a controlling interest in Altoy, Altoy will be consolidated into the consolidated financial statements of the Company. At January 28, 2017 and April 30, 2016, the financial results of Altoy were recorded in the Company’s consolidated financial statements as an equity method investment.