Income Taxes (Tables)

12 Months Ended

Apr. 30, 2021

Income Tax Disclosure [Abstract]

Summary of Income Tax Expense/(Benefit) from Continuing Operations

Income tax expense/(benefit) from operations consists of the following (in thousands):

	For the Year Ended April 30,
	2021			2020			2019
Current:
Federal	$	8,356		$	693		$	2,833
State		1,085			149			583
Foreign		4			4			5
Total current		9,445			846			3,421
Deferred:
Deferred federal		(3,222	)		(11,266	)		(2,442	)
Deferred state		(336	)		(1,233	)		(245	)
Total deferred		(3,558	)		(12,499	)		(2,687	)
Total income tax expense/(benefit)	$	5,887		$	(11,653	)	$	734

Summary of Reconciliation of Provision for Income Taxes from Continuing Operations

The following table presents a reconciliation of the provision for income taxes from operations at statutory rates to the provision (benefit) in the consolidated and combined financial statements (in thousands):

	For the Year Ended April 30,
	2021				2020				2019
Federal income taxes expected at the statutory rate (a)	$		5,101		$		(22,649	)	$	(1,845	)
State income taxes, less federal income tax benefit			586				(1,117	)		222
Stock compensation			(83	)			86			321
Business meals and entertainment			130				18			37
Research and development tax credit			(288	)			(199	)		(218	)
Goodwill impairment		—					11,741			2,183
Other			441				467			3
Federal tax rate change on deferred taxes		—				—				31
Total income tax expense/(benefit)	$		5,887		$		(11,653	)	$	734

Summary of Deferred Tax Assets (Liabilities) Related to Temporary Differences

Deferred tax assets (liabilities) related to temporary differences are the following (in thousands):

	April 30, 2021			April 30, 2020
Non-current tax assets (liabilities):
Inventories	$	1,241		$	924
Accrued expenses, including compensation		2,827			1,415
Product liability		6		—
Workers' compensation		8			27
Warranty reserve		165			78
Stock-based compensation		592			376
State bonus depreciation		51			43
Property taxes		9		—
Property, plant, and equipment		(1,696	)		(1,705	)
Intangible assets		3,500			2,219
Right-of Use assets		(5,879	)		(627	)
Right-of Use lease liabilities		6,152			950
Pension	—				19
Other		(52	)		(139	)
Less valuation allowance		(241	)	—
Net deferred tax asset/(liability) — total	$	6,683		$	3,580