Summary of Significant Accounting Policies and Related Data

9 Months Ended

Jan. 25, 2013

Summary of Significant Accounting Policies and Related Data [Abstract]

Summary of Significant Accounting Policies and Related Data

Note 2.  Summary of Significant Accounting Policies and Related Data

Medical Device Excise Tax (“MDET”).

Section 4191 of the Internal Revenue Code, enacted by the Health Care and Education Reconciliation Act of 2010, in conjunction with the Patient Protection and Affordable Care Act, establishes a 2.3% excise tax on medical devices sold domestically beginning on January 1, 2013. We account for the MDET in cost of sales. For the quarter ended January 25, 2013, we included $327,000 of MDET in cost of sales on the consolidated statement of income.