Income Taxes (Tables)

12 Months Ended

Apr. 30, 2015

Income Tax Disclosure [Abstract]

Schedule Of Income Tax Expense

Income tax expense was comprised of the following:

	FISCAL YEARS ENDED APRIL 30
(in thousands)	2015			2014		2013
CURRENT EXPENSE
Federal	$	12,663		$	4,825	$	1,031
State	1,890			406		162
Total current expense	14,553			5,231		1,193
DEFERRED EXPENSE
Federal	3,024			6,076		4,859
State	1,311			1,902		930
Total deferred expense	4,335			7,978		5,789
Total expense	18,888			13,209		6,982
Other comprehensive income (loss)	(9,510		)	3,944		(2,905		)
Total comprehensive income tax expense	$	9,378		$	17,153	$	4,077

Schedule Of Effective Income Tax Rate Reconciliation

The Company's effective income tax rate varied from the federal statutory rate as follows: 

	FISCAL YEARS ENDED APRIL 30
	2015		2014		2013
Federal statutory rate	35.0	%	35.0	%	35.0	%
Effect of:
Research and experimentation tax credit	(2.3	)%	—	%	—	%
Meals and entertainment	0.5		0.8		1.5
Domestic production deduction	(2.4	)	(1.8	)	(0.3	)
Other	0.1		0.7		1.4
Total	(4.1	)%	(0.3	)%	2.6	%
Effective federal income tax rate	30.9	%	34.7	%	37.6	%
State income taxes, net of federal tax effect	3.8		4.5		4.1
Effective income tax rate	34.7	%	39.2	%	41.7	%

Schedule Of Significant Components Of Deferred Tax Assets And Liabilities

The significant components of deferred tax assets and liabilities were as follows:

	APRIL 30
(in thousands)	2015		2014
Deferred tax assets:
Pension benefits	$	23,074	$	15,381
Accounts receivable	5,523		4,603
Product liability	1,031		745
Employee benefits	7,429		8,523
Net operating loss carryforward	—		469
Other	266		199
Total	37,323		29,920
Deferred tax liabilities:
Inventory	451		496
Depreciation	3,485		2,374
	3,936		2,870
Net deferred tax asset	$	33,387	$	27,050