Business Combination Achieved in Stages (Tables)

12 Months Ended

May 02, 2021

Schedule of Unaudited Pro Forma Consolidated Results of Operations

The following unaudited pro forma consolidated results of operations for the fiscal years ending May 2, 2021, and May 3, 2020, have been prepared as if this acquisition had occurred on April 29, 2019.

(dollars in thousands, except per share data)	May 2, 2021		May 3, 2020
Net Sales	$	300,995	$	256,960
Income (loss) from continuing operations		12,138		(7,820	)
Net income (loss) from continuing operations		2,430		(11,283	)
Net loss from discontinued operation		—		(17,509	)
Net income (loss)	$	2,430	$	(28,792	)
net income (loss) from continuing operations per share-basic	$	0.20	$	(0.91	)
net income (loss) from continuing operations per share-diluted	$	0.20	$	(0.91	)
net loss from discontinued operation per share-basic	$	—	$	(1.41	)
net loss from discontinued operation per share-diluted	$	—	$	(1.41	)
Net income (loss) per share - basic	$	0.20	$	(2.33	)
Net income (loss) per share - diluted	$	0.20	$	(2.33	)

Summary of Equity Method Investment

The following table summarizes assets, liabilities, and members’ equity for our equity method investment in CIH:

(dollars in thousands)	May 3, 2020
total assets	$	3,338
total liabilities	$	133
total members’ equity	$	3,205

CIH [Member]

Schedule of Allocation of Consideration Transferred to Assets Acquired and Liabilities Assumed

The following table presents the final allocation of the consideration transferred to the assets acquired and liabilities assumed based on their fair values.

(dollars in thousands)	Fair Value
Cash and cash equivalents	$	62
Accounts receivable		169
Inventory		31
Right of use assets		2,544
Equipment and leasehold improvements		846
Accounts payable		(155	)
Gain on bargain purchase		(819	)
	$	2,678