Subsequent Event

6 Months Ended

Oct. 29, 2016

Subsequent Events [Abstract]

Subsequent Event

Subsequent Event

In the first quarter of fiscal 2006, we extended our exclusive North American distribution relationship with Sirona Dental Systems for Sirona’s CEREC 3D dental restorative system. At that time, we paid a $100,000 distribution fee to extend the existing exclusive relationship for at least a 10-year period beginning in 2007. This distribution fee has been accounted for as an intangible asset that has been amortized since October 2007.

Based on our November 2016 decision not to extend sales exclusivity for the full Sirona portfolio of products, we expect to record a pre-tax non-cash impairment charge of approximately $36,000, or approximately $22,000 after taxes or $0.23 per diluted share in our fiscal 2017 third quarter, related to the distribution fee associated with the CEREC product component of this arrangement.