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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Oct. 26, 2019
Oct. 27, 2018
Operating activities    
Net income $ 24,604 $ 33,366
Gain on sale of business, net of tax   (8,452)
Loss from discontinued operations   2,449
Net income from continuing operations 24,604 27,363
Adjustments to reconcile net income to cash provided by (used in) operating activities:    
Depreciation and amortization 4,486 3,584
Loss from equity method investments 2,210 1,354
Provision for doubtful accounts 14 (27)
Other non-cash expense 81  
Non-cash lease expense 2,255  
Losses (gains) on foreign currency transactions 1 (13)
Deferred income taxes (669) (614)
Stock-based compensation 2,984 2,517
Gain on sale of property and equipment (75)  
Amortization of held-to-maturity investments (984) (459)
Changes in operating assets and liabilities:    
Accounts receivable (9,400) 22,261
Unbilled receivables and retentions (9,350) (28,782)
Inventories 1,621 (8,671)
Income tax receivable 821  
Prepaid expenses and other assets (1,051) (831)
Accounts payable (5,046) (8,841)
Other liabilities (4,583) (6,184)
Net cash provided by operating activities of continuing operations 7,919 2,657
Investing activities    
Acquisition of property and equipment (6,850) (4,135)
Equity method investments (4,569)  
Business acquisition, net of cash acquired (18,641)  
Proceeds from sale of business   31,994
Proceeds from the sale of property and equipment 81  
Redemptions of held-to-maturity investments 159,839 153,029
Purchases of held-to-maturity investments (169,148) (169,402)
Redemptions of available-for-sale investments   2,250
Purchases of available-for-sale investments (4,947)  
Net cash (used in) provided by investing activities from continuing operations (44,235) 13,736
Financing activities    
Principal payments of capital lease obligations   (111)
Tax withholding payment related to net settlement of equity awards (743) (975)
Exercise of stock options 93 71
Net cash provided by financing activities from continuing operations (650) (1,015)
Discontinued operations    
Operating activities of discontinued operations 0 (7,188)
Investing activities of discontinued operations 0 (452)
Financing activities of discontinued operations 0 0
Net cash used in discontinued operations   (7,640)
Net (decrease) increase in cash, cash equivalents, and restricted cash (36,966) 7,738
Cash, cash equivalents, and restricted cash at beginning of period 172,708 143,517
Cash, cash equivalents, and restricted cash at end of period 135,742 151,255
Cash paid, net during the period for:    
Income taxes 518 5,270
Non-cash activities    
Unrealized gain on investments, net of deferred tax expense of $51 for the six months ended October 27, 2018   57
Change in foreign currency translation adjustments 179 (31)
Acquisitions of property and equipment included in accounts payable $ 761 $ 753