Restructuring

3 Months Ended

Jul. 31, 2025

Restructuring and Related Activities [Abstract]

The Company recognized total pre-tax restructuring charges, net of $0.8 million during the first three months of fiscal 2026. The charges are the result of a reduction in force implemented in the first quarter of fiscal 2026 in Mexico and the closure of the manufacturing plant in Orange, Virginia approved in the third quarter of fiscal 2025. No restructuring charges were recognized during the first three months of fiscal 2025.

The Company recognized pre-tax restructuring charges, net of $0.6 million for the quarter ended July 31, 2025, related to the Mexico reduction in force, which were primarily severance and separation costs. The reduction in force was completed during the first quarter of fiscal 2026.

During the third quarter of fiscal 2025, the Board approved the closure and eventual disposal of its manufacturing plant located in Orange, Virginia. Operations ceased in Orange in March 2025. The Company recognized total pre-tax restructuring charges, net of $0.2 million for the three-months ended July 31, 2025, related to the closure of the plant for facilities and professional fees. The Company may incur between $0.3 million to $2.2 million of additional charges in fiscal 2026 related to the closing of the plant for a total of $3.6 million to $5.5 million, which were primarily recognized in fiscal 2025.

A reserve of $0.1 million for restructuring charges is included in accrued compensation and related expenses in the condensed consolidated balance sheet as of July 31, 2025, which relates to employee termination costs accrued but not yet paid as follows:


	July 31,
(in thousands)	2025
Restructuring reserve balance at May 1	$	434
Expense	442
Payments and adjustments	(820)
Restructuring reserve balance at July 31	$	56