Segment Disclosure

6 Months Ended

Oct. 31, 2020

Segment Reporting [Abstract]

Segment Disclosure

Note 5. Segment Reporting

We organize and manage our business by the following five segments which meet the definition of reportable segments under ASC 280-10, Segment Reporting: Commercial, Live Events, High School Park and Recreation, Transportation, and International. These segments are based on the customer type or geography and are the same as our business units. We evaluate segment performance based on operating results through contribution margin, which is comprised of gross profit less selling expense. We exclude general and administration expense, product design and development expense, non-operating income and expense, and income tax expense (benefit) in the segment analysis. Separate financial information is available and regularly evaluated by our chief operating decision-maker (CODM), who is our president and chief executive officer, in making resource allocation decisions for our segments.  

The following table sets forth certain financial information for each of our five reporting segments for the periods indicated:

	Three Months Ended						Six Months Ended
	October 31, 2020			November 2, 2019			October 31, 2020			November 2, 2019
Net sales:
Commercial	$	30,356		$	39,651		$	64,862		$	83,686
Live Events	37,822			59,319			89,296			118,625
High School Park and Recreation	27,578			30,193			56,521			60,658
Transportation	15,323			20,330			29,821			39,348
International	16,288			25,418			30,511			52,850
	127,367			174,911			271,011			355,167
Gross profit:
Commercial	8,578			7,862			16,320			17,080
Live Events	7,300			11,934			16,654			24,671
High School Park and Recreation	8,497			9,224			18,973			19,411
Transportation	5,312			7,003			10,455			13,757
International	3,627			4,064			6,673			10,673
	33,314			40,087			69,075			85,592
Contribution margin: (1)
Commercial	4,781			2,853			9,222			6,937
Live Events	4,881			8,362			12,019			17,234
High School Park and Recreation	5,951			5,988			13,866			12,580
Transportation	4,446			5,895			8,827			11,347
International	601			812			931			3,020
	20,660			23,910			44,865			51,118
Non-allocated operating expenses:
General and administrative	7,264			8,965			14,388			18,058
Product design and development	6,737			10,121			14,269			20,621
Operating income	6,659			4,824			16,208			12,439
Nonoperating income (expense):
Interest income	66			162			151			431
Interest expense	(84		)	(31		)	(157		)	(66		)
Other (expense) income, net	(837		)	(514		)	(1,464		)	(321		)
Income before income taxes	5,804			4,441			14,738			12,483
Income tax expense (benefit)	2,388			(2,833		)	3,855			(1,821		)
Net income	$	3,416		$	7,274		$	10,883		$	14,304
Depreciation and amortization:
Commercial	$	721		$	895		$	1,493		$	1,869
Live Events	1,424			1,394			2,875			2,792
High School Park and Recreation	492			507			988			1,019
Transportation	234			252			471			516
International	701			563			1,394			1,087
Unallocated corporate depreciation	655			730			1,343			1,441
	$	4,227		$	4,341		$	8,564		$	8,724

(1) Contribution margin consists of gross profit less selling expense. 

No single geographic area comprises a material amount of our net sales or property and equipment, net of accumulated depreciation, other than the United States.  The following table presents information about net sales and property and equipment, net of accumulated depreciation, in the United States and elsewhere:

	Three Months Ended				Six Months Ended
	October 31, 2020		November 2, 2019		October 31, 2020		November 2, 2019
Net sales:
United States	$	108,453	$	147,106	$	236,522	$	296,566
Outside United States	18,914		27,805		34,489		58,601
	$	127,367	$	174,911	$	271,011	$	355,167
	October 31, 2020		May 2, 2020
Property and equipment, net of accumulated depreciation:
United States	$	55,522	$	58,422
Outside United States	8,953		9,062
	$	64,475	$	67,484

We have numerous customers worldwide for sales of our products and services, and no customer accounted for 10% or more of net sales; therefore, we are not economically dependent on a limited number of customers for the sale of our products and services. 

We have numerous raw material and component suppliers, and no supplier accounts for 10% or more of our cost of sales; however, we have a number of single-source suppliers that could limit our supply or cause delays in obtaining raw material and components needed in manufacturing.