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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Apr. 30, 2015	Jun. 16, 2015	Oct. 31, 2014
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Apr. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Trading Symbol	SWHC
Entity Registrant Name	Smith & Wesson Holding Corporation
Entity Central Index Key	0001092796
Current Fiscal Year End Date	--04-30
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		54,169,521
Entity Public Float			$ 423,395,323

Consolidated Balance Sheets - USD ($)
$ in Thousands

Apr. 30, 2015

Apr. 30, 2014

Current assets:

Cash and cash equivalents

$ 42,222

$ 68,860

Accounts receivable, net of allowance for doubtful accounts of $722 on April 30, 2015 and $844 on April 30, 2014

55,280

55,890

Inventories

76,895

86,742

Prepaid expenses and other current assets

6,306

5,958

Deferred income taxes

16,373

17,094

Income tax receivable

4,627

Total current assets

197,076

239,171

Property, plant, and equipment, net

133,844

120,440

Intangibles, net

73,768

^[1]

3,425

Goodwill

75,426

Other assets

14,878

18,467

Assets, Total

494,992

381,503

Current liabilities:

Accounts payable

32,360

37,688

Accrued expenses

19,021

17,107

Accrued payroll

7,556

15,816

Accrued income taxes

4,224

Accrued taxes other than income

5,281

5,359

Accrued profit sharing

6,165

11,060

Accrued warranty

6,404

5,513

Total current liabilities

81,011

92,543

Deferred income taxes

33,905

11,418

Notes payable

175,000

100,000

Other non-current liabilities

10,706

10,719

Total liabilities

300,622

214,680

Commitments and contingencies

Stockholders’ equity:

Preferred stock, $.001 par value, 20,000,000 shares authorized, no shares issued or outstanding

Common stock, $.001 par value, 100,000,000 shares authorized, 69,625,081 shares issued and 54,062,459 shares outstanding on April 30, 2015 and 68,809,986 shares issued and 55,352,679 shares outstanding on April 30, 2014

Additional paid-in capital

219,198

211,225

Retained earnings

147,352

97,739

Accumulated other comprehensive income

Treasury stock, at cost (15,562,622 shares on April 30, 2015 and 13,457,307 shares on April 30, 2014)

(172,323)

(142,283)

Total stockholders’ equity

194,370

166,823

Liabilities and Equity, Total

$ 494,992

$ 381,503

[1]	The primary increase in intangible assets over the prior year is as a result of the BTI Acquisition.

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2015	Apr. 30, 2014
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 722	$ 844
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	69,625,081	68,809,986
Common stock, shares outstanding	54,062,459	55,352,679
Treasury stock, shares	15,562,622	13,457,307

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Statement Of Income And Comprehensive Income [Abstract]
Net sales	$ 551,862	$ 626,620	$ 587,514
Cost of sales	356,936	367,515	369,442
Gross profit	194,926	259,105	218,072
Operating expenses:
Research and development	6,943	5,648	4,790
Selling and marketing	36,033	33,515	30,112
General and administrative	62,322	68,954	50,336
Total operating expenses	105,298	108,117	85,238
Operating income	89,628	150,988	132,834
Other (expense)/income:
Other (expense)/income, net	39	(2,154)	39
Interest income	395	149	814
Interest expense	(11,330)	(12,261)	(5,781)
Total other (expense)/income, net	(10,896)	(14,266)	(4,928)
Income from continuing operations before income taxes	78,732	136,722	127,906
Income tax expense	28,905	48,095	46,500
Income from continuing operations	49,827	88,627	81,406
Discontinued operations:
Loss from operations of discontinued security solutions division	(297)	(456)	(3,605)
Income tax benefit	(83)	(1,134)	(912)
(Loss)/income from discontinued operations	(214)	678	(2,693)
Net income	$ 49,613	$ 89,305	$ 78,713
Net income per share:
Basic - continuing operations	$ 0.92	$ 1.51	$ 1.25
Basic - total	0.92	1.52	1.21
Diluted - continuing operations	0.90	1.47	1.22
Diluted - total	$ 0.90	$ 1.49	$ 1.18
Weighted average number of common shares outstanding:
Basic	53,988	58,668	65,155
Diluted	55,228	60,114	66,642

Consolidated Statement of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings/(Accumulated Deficit)	Accumulated Other Comprehensive Income	Treasury Stock
Balance at Apr. 30, 2012	$ 112,844	$ 67	$ 189,379	$ (70,279)	$ 73	$ (6,396)
Balance (in shares) at Apr. 30, 2012		66,512,000				1,200,000
Exercise of employee stock options	$ 3,473	$ 1	3,472
Exercise of employee stock options (in shares)	847,042	847,000
Repurchase of treasury stock	$ (20,000)					$ (20,000)
Repurchase of treasury stock (in shares)						2,100,000
Stock-based compensation	4,118		4,118
Excess tax benefit for stock-based compensation	1,025		1,025
Shares issued under employee stock purchase plan	1,335		1,335
Shares issued under employee stock purchase plan (in shares)		185,000
Issuance of common stock under restricted stock unit awards, net of shares surrendered	(209)		(209)
Issuance of common stock under restricted stock unit awards, net of shares surrendered (in shares)		53,000
Net income	78,713			78,713
Balance at Apr. 30, 2013	181,299	$ 68	199,120	8,434	73	$ (26,396)
Balance (in shares) at Apr. 30, 2013		67,597,000				3,300,000
Exercise of employee stock options	$ 1,999	$ 1	1,998
Exercise of employee stock options (in shares)	732,778	732,000
Repurchase of treasury stock	$ (115,887)					$ (115,887)
Repurchase of treasury stock (in shares)						10,158,000
Stock-based compensation	8,212		8,212
Excess tax benefit for stock-based compensation	2,647		2,647
Shares issued under employee stock purchase plan	1,316		1,316
Shares issued under employee stock purchase plan (in shares)		176,000
Issuance of common stock under restricted stock unit awards, net of shares surrendered	(2,068)		(2,068)
Issuance of common stock under restricted stock unit awards, net of shares surrendered (in shares)		305,000
Net income	89,305			89,305
Balance at Apr. 30, 2014	$ 166,823	$ 69	211,225	97,739	73	$ (142,283)
Balance (in shares) at Apr. 30, 2014	55,352,679	68,810,000				13,458,000
Exercise of employee stock options	$ 1,814	$ 1	1,813
Exercise of employee stock options (in shares)	365,719	366,000
Repurchase of treasury stock	$ (30,040)					$ (30,040)
Repurchase of treasury stock (in shares)	2,105,315					2,105,000
Stock-based compensation	$ 5,808		5,808
Excess tax benefit for stock-based compensation	771		771
Shares issued under employee stock purchase plan	1,289		1,289
Shares issued under employee stock purchase plan (in shares)		163,000
Issuance of common stock under restricted stock unit awards, net of shares surrendered	(1,708)		(1,708)
Issuance of common stock under restricted stock unit awards, net of shares surrendered (in shares)		286,000
Net income	49,613			49,613
Balance at Apr. 30, 2015	$ 194,370	$ 70	$ 219,198	$ 147,352	$ 73	$ (172,323)
Balance (in shares) at Apr. 30, 2015	54,062,459	69,625,000				15,563,000

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Cash flows from operating activities:
Net income	$ 49,613	$ 89,305	$ 78,713
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	30,893	21,704	16,730
Loss on sale of discontinued operations			1,222
Loss on sale/disposition of assets	267	150	315
Provision for/(recoveries of) losses on accounts receivable	122	(214)	720
Change in disposal group assets and liabilities			(1,215)
Deferred income taxes	2,341	(1,463)	4,009
Stock-based compensation expense	5,808	8,212	4,073
Changes in operating assets and liabilities (net effect of acquisitions):
Accounts receivable	10,983	(9,588)	1,505
Inventories	25,662	(23,744)	(7,702)
Prepaid expenses and other current assets	(569)	(1,856)	(285)
Income tax receivable/(payable)	8,965	(1,534)	(3,384)
Accounts payable	(7,345)	6,468	2,602
Accrued payroll	(9,525)	2,720	3,489
Accrued taxes other than income	(86)	10	1,079
Accrued profit sharing	(4,895)	1,473	1,547
Accrued expenses	1,447	(477)	(5,125)
Accrued warranty	891	(244)	408
Other assets	(348)	(356)	(1,930)
Other non-current liabilities	583	(360)	1,327
Net cash provided by operating activities	114,807	90,206	98,098
Cash flows from investing activities:
Proceeds from sale of the net assets of SWSS LLC			7,500
Refunds of/(payments for) deposits on machinery and equipment	1,431	(9,269)
Receipts from note receivable	81	77	73
Payments to acquire patents and software	(392)	(243)	(102)
Proceeds from sale of property and equipment	264	101	1,040
Payments to acquire property and equipment	(28,199)	(53,282)	(41,421)
Net cash used in investing activities	(186,057)	(62,616)	(32,910)
Cash flows from financing activities:
Proceeds from loans and notes payable	175,000	101,584	1,753
Cash paid for debt issue costs	(2,558)	(3,791)
Payments on capital lease obligation	(596)	(596)	(600)
Payments on notes payable	(100,000)	(45,143)	(8,195)
Proceeds from Economic Development Incentive Program	640	722
Payments to acquire treasury stock	(30,040)	(115,887)	(20,000)
Proceeds from exercise of options to acquire common stock, including employee stock purchase plan	3,103	3,315	4,808
Payroll taxes paid as a result of restricted stock unit withholdings	(1,708)	(2,068)	(209)
Excess tax benefit of stock-based compensation	771	2,647	1,025
Net cash provided by/(used in) financing activities	44,612	(59,217)	(21,418)
Net (decrease)/increase in cash and cash equivalents	(26,638)	(31,627)	43,770
Cash and cash equivalents, beginning of period	68,860	100,487	56,717
Cash and cash equivalents, end of period	42,222	68,860	100,487
Supplemental disclosure of cash flow information Cash paid for:
Interest	8,617	7,688	5,295
Income taxes	16,926	$ 48,778	$ 44,087
Tri Town Precision Plastics Inc
Cash flows from investing activities:
Payments to acquire business, net of cash acquired	(23,805)
BTI Acquisition
Cash flows from investing activities:
Payments to acquire business, net of cash acquired	$ (135,437)

Organization	12 Months Ended
Organization	Apr. 30, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	1. Organization Organization — We are one of the world’s leading manufacturers of firearms. We manufacture a wide array of handguns (including revolvers and pistols), long guns (including modern sporting rifles, bolt action rifles, and single shot rifles), handcuffs, and firearm-related products and accessories for sale to a wide variety of customers, including gun enthusiasts, collectors, hunters, sportsmen, competitive shooters, individuals desiring home and personal protection, law enforcement and security agencies and officers, and military agencies in the United States and throughout the world. We are one of the largest manufacturers of handguns, modern sporting rifles, and handcuffs in the United States and an active participant in the hunting rifle market. Beginning in 2015, we are now also a leading provider of shooting, reloading, gunsmithing, and gun cleaning supplies. We sell our products under the Smith & Wesson, M&P, Thompson/Center Arms, Caldwell Shooting Supplies, Wheeler Engineering, Tipton Gun Cleaning Supplies, Frankford Arsenal Reloading Tools, Lockdown Vault Accessories, Hooyman Premium Tree Saws, BOG-POD, and Golden Rod Moisture Control brands. We manufacture our firearm products at our facilities in Springfield, Massachusetts; Houlton, Maine; and Deep River, Connecticut; and we develop and market our accessories products at our facility in Columbia, Missouri. We plan to continue to capitalize on the goodwill developed through our historic 163 year old “Smith & Wesson” brand as well as our other well-known brands by expanding consumer awareness of the products we produce. On May 5, 2014, we acquired substantially all of the net assets of Tri-Town Precision Plastics, Inc., or TTPP, which we refer to as the DRP Acquisition. See Note 2 – Acquisitions below for more information regarding this transaction. On December 11, 2014, we acquired all of the issued and outstanding stock of Battenfeld Acquisition Company Inc., including its wholly owned subsidiary, Battenfeld Technologies, Inc., or BTI, which we refer to as the BTI Acquisition. See Note 2 – Acquisitions below for more information regarding this transaction. These acquisitions have been accounted for in accordance with ASC 805-20, Business Combinations, and accordingly, the results of operations from the acquired businesses have been included in our consolidated financial statements following the acquisition dates.

Acquisitions

12 Months Ended

Apr. 30, 2015

Business Combinations [Abstract]

Acquisitions

2. Acquisitions

DRP Acquisition

On May 5, 2014, we acquired substantially all of the net assets of TTPP for $22.8 million, plus a $1.0 million working capital adjustment, for a total purchase price of $23.8 million, utilizing cash on hand. TTPP was a provider of custom injection molding services, rapid prototyping, and tooling, and was a long-standing supplier of polymer frames and related components for a large number of our firearms, including nearly all of our M&P models. The DRP Acquisition of TTPP’s custom polymer injection molding capabilities was designed to vertically integrate a key component of our manufacturing operations and provide us with increased flexibility within our supply chain.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date, as well as measurement period adjustments (in thousands):

	May 5, 2014		Measurement
	(As Initially		Period			May 5, 2014
	Reported)		Adjustments			(As Adjusted)
Accounts receivable	$	2,614	$	5		$	2,619
Inventories		2,430		460			2,890
Total current assets		5,044		465			5,509
Property, plant, and equipment		4,243		155			4,398
Goodwill		15,183		(1,413	)		13,770
Intangibles assets:
Customer relationships	—			840			840
Order backlog	—			150			150
Other assets		8	—				8
Total assets acquired		24,478		197			24,675
Accounts payable		358		12			370
Accrued expenses		25		114			139
Accrued payroll	—			361			361
Total liabilities assumed		383		487			870
	$	24,095	$	(290	)	$	23,805

General and administrative costs include $440,000 and $471,000 of acquisition-related costs incurred during the years ended April 30, 2015 and 2014, respectively, related to the DRP Acquisition.

The goodwill that was recorded relating to the DRP Acquisition results from expected synergies related to vertically integrating a key component of our manufacturing operations as well as increased flexibility within our supply chain. This goodwill will be deductible for tax purposes and amortized over 15 years and is included in our firearm segment.

We amortize customer relationships in proportion to expected yearly revenue generated from the customer lists acquired or products to be sold. We amortize order backlog over the contract lives as they are executed. The following are the identifiable intangible assets acquired (in thousands) and their respective weighted average lives:

			Weighted Average
			Life
	Amount		(In years)
Customer relationships	$	840		3.3
Order backlog		150		1.0
	$	990

Pro forma results of operations assuming that this acquisition had occurred on May 1, 2013 are not required because of the immaterial impact on our consolidated financial statements for all periods presented.

BTI Acquisition

On December 11, 2014, we acquired all of the issued and outstanding stock of BTI for $130.5 million, plus a $3.1 million working capital adjustment, for a total purchase price of $133.6 million, pursuant to a Stock Purchase and Sale Agreement. The BTI Acquisition was financed using a combination of existing cash balances and cash from a $100.0 million draw on our line of credit, which was expanded to $125.0 million as a result of our partial exercise of the accordion feature on that line of credit.

BTI, based in Columbia, Missouri, is a leading provider of hunting and shooting accessories, which develops, produces, and delivers innovative, high-quality products under several brands.

On January 9, 2015, we acquired substantially all of the net assets of Hooyman LLC, a manufacturer of extendable tree saws designed for the hunting and outdoor industry, for $1.9 million utilizing cash on hand. We have relocated its operations to our Columbia, Missouri facility.

The aggregate purchase price of these acquisitions, including the working capital adjustments, was $135.5 million.

We are finalizing the valuation of the assets acquired and liabilities assumed. Therefore, the fair values set forth below are subject to further adjustments as we obtain additional information during the measurement period, which will not exceed 12 months from the acquisition date. Adjustments in the purchase price allocation may require a recasting of the amounts allocated to goodwill retroactive to the period in which the acquisition occurred.

The following table summarizes the estimated allocation of the purchase price for BTI at the acquisition date, which includes the net assets from the Hooyman acquisition, as well as measurement period adjustments to date (in thousands):

	December 11, 2014		Measurement
	(As Initially		Period				December 11, 2014
	Reported)		Adjustments				(As Adjusted)

Cash	$	24	$	—			$	24
Accounts receivable		7,873			3			7,876
Inventories		12,819			107			12,926
Income tax receivable		393			(279	)		114
Other current assets		563		—				563
Property, plant, and equipment		2,826			(318	)		2,508
Intangibles		73,550		—				73,550
Goodwill		62,142			(486	)		61,656
Total assets acquired		160,190			(973	)		159,217
Accounts payable		1,647			2			1,649
Accrued expenses		326			1			327
Accrued payroll		904		—				904
Accrued taxes other than income		9		—				9
Deferred income taxes		21,128			(261	)		20,867
Total liabilities assumed		24,014			(258	)		23,756
	$	136,176	$		(715	)	$	135,461

General and administrative costs include $1.7 million of acquisition-related costs incurred during the year ended April 30, 2015 related to the BTI Acquisition.

The goodwill that was recorded relating to the BTI Acquisition results from our ability to expand our prescence in the firearm accessories market and leverage BTI’s broad portfolio of hunting and shooting accessories brands. Previously acquired goodwill of $12.0 million will be deductible for tax purposes over its remaining useful life. The remaining goodwill recorded as a result of the BTI Acquisition is not expected to be deductible for tax purposes. All of the goodwill recorded as result of the BTI Acquisition is allocated to our accessories segment.

We amortize intangible assets in proportion to expected yearly revenue generated from the intangibles that were acquired. We amortize order backlog over the contract lives as they are executed. The following are the identifiable intangible assets acquired (in thousands) and their respective weighted average lives:

			Weighted Average
			Life
	Amount		(In years)
Developed technology	$	16,630		4.2
Customer relationships		25,680		4.4
Trade names		31,140		5.3
Order backlog		100		0.3
	$	73,550

Additionally, the following table reflects the unaudited pro forma results of operations assuming that the BTI Acquisition had occurred on May 1, 2013 (in thousands, except per share data):

	For the Year			For the Year
	Ended			Ended
	April 30, 2015			April 30, 2014
Net sales	$	582,875	$		670,163
Income from continuing operations		53,388			85,460
Income per share - diluted		0.97			1.42

The unaudited pro forma income from continuing operations for the years ended April 30, 2015 and 2014 have been adjusted to reflect increased cost of goods sold from the fair value step-up in inventory, which is expensed over the first inventory cycle, and the amortization of intangibles and order backlog incurred as if the acquisition had occurred on May 1, 2013. The unaudited pro forma information is presented for informational purposes only and is not necessarily indicative of the actual results that would have been achieved had the BTI Acquisition occurred as of May 1, 2013 or the results that may be achieved in future periods.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

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-Name Accounting Standards Codification
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+ Details

Significant Accounting Policies

12 Months Ended

Apr. 30, 2015

Accounting Policies [Abstract]

Significant Accounting Policies

3. Significant Accounting Policies

Use of Estimates — The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the financial statement dates and the reported amounts of revenue and expenses during the reporting periods. Our significant estimates include accruals for warranty, excess and obsolete inventory, allowance for doubtful accounts, and intangible asset valuation. Actual results could differ from those estimates.

Principles of Consolidation — The accompanying consolidated financial statements include the accounts of Smith & Wesson Holding Corporation and its wholly owned subsidiaries, including Smith & Wesson Corp., Thompson/Center Arms Company, LLC, Deep River Plastics, LLC, BTI, currently reported as our newly formed accessories division, and SWSS LLC, formerly Smith & Wesson Security Solutions, Inc., or SWSS, our former security solutions division. There was no variance in the fiscal year-end of our wholly owned subsidiary, Smith & Wesson Corp., and our reported fiscal year-end of April 30, 2015 and 2014. We had a two-day variance for our fiscal year-end of Smith & Wesson Corp. to our reported fiscal year-end in April 2013. The variance in fiscal 2013 did not create any material difference in the consolidated financial statements as presented. In our opinion, all adjustments, which include only normal recurring adjustments necessary to fairly present the financial position, results of operations, changes in stockholders’ equity, and cash flows at April 30, 2015 and 2014 and for the periods presented, have been included. All significant intercompany accounts and transactions have been eliminated in consolidation.

SWSS is being presented as discontinued operations in the consolidated statements of income for all periods presented. See Note 4 for additional information regarding these discontinued operations. Unless stated otherwise, any reference to the consolidated statements of income items in the notes to the consolidated financial statements refers to results from continuing operations.

Fair Value of Financial Instruments — Unless otherwise indicated, the fair values of all reported assets and liabilities, which represent financial instruments not held for trading purposes, approximate the carrying values of such amounts because of their short-term nature or market rates of interest.

Cash and Cash Equivalents — We consider all highly liquid investments purchased with original maturities of three months or less at the date of acquisition to be cash equivalents. We maintain our cash in bank deposit accounts that, at times, may exceed federally insured limits. We have not experienced any losses in such accounts. As of April 30, 2015, our accounts exceeded federally insured limits by $42.6 million.

Trade Receivables — We extend credit to our domestic customers and some foreign distributors based on their financial condition. We sometimes offer discounts for early payment on invoices. When we believe the extension of credit is not advisable, we rely on either a prepayment or a letter of credit. We write off balances deemed uncollectible by us against our allowance for doubtful accounts. We estimate our allowance for doubtful accounts through current past due balances, knowledge of our customers’ financial situations, and past payment history.

Concentrations of Credit Risk — Financial instruments that potentially subject us to concentration of credit risk consist principally of cash, cash equivalents, and trade receivables. We place our cash and cash equivalents in overnight U.S. government securities. Concentrations of credit risk with respect to trade receivables are limited by the large number of customers comprising our customer base and their geographic and business dispersion. We perform ongoing credit evaluations of our customers’ financial condition and generally do not require collateral.

For our fiscal year ended April 30, 2015, we did not have any customers that accounted for more than 10% of net sales or 10% of accounts receivable as of April 30, 2015. However, one of our customers accounted for approximately 13.4% and 11.6% of our net sales for the fiscal years ended April 30, 2014 and 2013, respectively, as well as $11.7 million, or 20.1%, of accounts receivable as of April 30, 2014.

Inventories — We value firearm inventories, consisting primarily of finished firearms, finished firearm components, as well as related products, as well as our accessories inventories, at the lower of cost, using the first-in, first-out, or FIFO method, or market. An allowance for potential non-saleable inventory due to excess stock or obsolescence is based upon a detailed review of inventory components, past history, and expected future usage.

Property, Plant, and Equipment — We record property, plant, and equipment, consisting of land, building, building improvements, machinery, equipment, software, hardware, furniture, and fixtures, at cost and depreciate them using the straight-line method over their estimated useful lives. We charge expenditures for maintenance and repairs to earnings as incurred, and we capitalize additions, renewals, and betterments. Upon the retirement or other disposition of property and equipment, we remove the related cost and accumulated depreciation from the respective accounts and include any gain or loss in operations. A summary of the estimated useful lives is as follows:

Description	Useful Life
Building and improvements		10 to 40 years
Software and hardware		3 to 7 years
Machinery and equipment		2 to 10 years

We include tooling, dies, and fixtures as part of machinery and equipment and depreciate them over a period not exceeding five years.

Intangible Assets — We record intangible assets at cost or based on the fair value of assets acquired. Intangible assets consist of developed technology, customer relationships, trademarks, trade names, and patents. We amortize intangible assets over their estimated useful lives or in proportion to expected yearly revenue generated from the intangibles that were acquired.

Revenue Recognition — We recognize revenue when the following four basic criteria have been met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been provided; (3) the fee is fixed or determinable; and (4) collection is reasonably assured.

Product sales account for most of our revenue. We recognize revenue from product sales when the earnings process is complete and the risks and rewards of ownership have transferred to the customer, which is generally upon shipment but could be delayed until the receipt of customer acceptance. We also provide tooling, forging, heat treating, finishing, plating, and engineering support services to customers; we recognize this revenue when accepted by the customer, if applicable, when no further contingencies or material performance obligations exist, and when collectability is reasonably assured, thereby earning us the right to receive and retain payments for services performed and billed.

Segment Information — We have two reportable segments: one for our firearm division and a second for our accessories division. See Note 19 – Segment Reporting for more information regarding our segments.

Research and Development — We engage in both internal and external research and development, or R&D, in order to remain competitive and to exploit possible untapped market opportunities. We approve prospective R&D projects after analysis of the cost and benefits associated with the potential product. Costs in R&D expense include, among other items, salaries, materials, utilities, and administrative costs.

Earnings/(Loss) per Share — We calculate basic and diluted earnings/(loss) per common share in accordance with the provisions of ASC 260-10, Earnings Per Share. Basic earnings/(loss) per common share equals net income/(loss) divided by the weighted average number of common shares outstanding during the period. Diluted earnings/(loss) per common share equals net income/(loss) divided by the weighted average number of common shares outstanding during the period, including the effect of outstanding stock options and other stock-based instruments if their effect is dilutive.

The following table provides a reconciliation of the net income/(loss) amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings/(loss) per common share (in thousands, except per share data):

	For the Year Ended April 30,
	2015			2014		2013
Net income/(loss)
Income from continuing operations	$	49,827		$	88,627	$	81,406
(Loss)/income from discontinued operations		(214	)		678		(2,693	)
Net income	$	49,613		$	89,305	$	78,713
Weighted average shares outstanding - Basic		53,988			58,668		65,155
Dilutive effect of stock option and award plans		1,240			1,446		1,487
Diluted shares outstanding		55,228			60,114		66,642
Earnings per share - Basic
Income from continuing operations	$	0.92		$	1.51	$	1.25
(Loss)/income from discontinued operations	$	(0.00	)	$	0.01	$	(0.04	)
Net income	$	0.92		$	1.52	$	1.21
Earnings per share - Diluted
Income from continuing operations	$	0.90		$	1.47	$	1.22
(Loss)/income from discontinued operations	$	(0.00	)	$	0.01	$	(0.04	)
Net income	$	0.90		$	1.49	$	1.18

For fiscal 2015, 2014, and 2013, 73,546, 77,622, and 246,635 shares of common stock, respectively, issuable upon the exercise of stock options were excluded from the computation of diluted income per share because the effect would be antidilutive.

Valuation of Long-lived Tangible and Intangible Assets — We evaluate the recoverability of long-lived assets, or asset groups, whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. When such evaluations indicate that the related future undiscounted cash flows are not sufficient to recover the carrying values of the assets, such carrying values are reduced to fair value and this adjusted carrying value becomes the asset’s new cost basis. We determine fair value primarily using future anticipated cash flows that are directly associated with and that are expected to arise as a direct result of the use and eventual disposition of the asset, or asset group, discounted using an interest rate commensurate with the risk involved.

We have significant long-lived tangible and intangible assets, which are susceptible to valuation adjustments as a result of changes in various factors or conditions. The most significant long-lived tangible and intangible assets, other than goodwill, are property, plant, and equipment, developed technology, customer relationships, patents, trademarks, and trade names. We amortize all finite-lived intangible assets either on a straight-line basis or based upon patterns in which we expect to utilize the economic benefits of such assets. We initially determine the values of intangible assets by a risk-adjusted, discounted cash flow approach. We assess the potential impairment of identifiable intangible assets and fixed assets whenever events or changes in circumstances indicate that the carrying values may not be recoverable and at least annually. Factors we consider important, which could trigger an impairment of such assets, include the following:

·	significant underperformance relative to historical or projected future operating results;

·	significant changes in the manner or use of the assets or the strategy for our overall business;

·	significant negative industry or economic trends;

·	a significant decline in our stock price for a sustained period; and

·	a decline in our market capitalization below net book value.

Future adverse changes in these or other unforeseeable factors could result in an impairment charge that could materially impact future results of operations and financial position in the reporting period identified. No impairment charges were recorded for continuing operations in fiscal 2015, 2014, or 2013 based on the review of long-lived assets.

In accordance with ASC 350, Intangibles-Goodwill and Other, we test intangible assets with indefinite lives for impairment on an annual basis on February 1 and between annual tests if indicators of potential impairment exist. The impairment test compares the fair value of the reporting unit to its carrying amount, including intangible assets with indefinite lives, to assess whether impairment is present. We have reviewed the provisions of ASC 280-10, Segment Reporting Topic, with respect to the criteria necessary to evaluate the number of reporting units that exist. Based on our review of ASC 280-10-50, we have determined that we operate our continuing operations in two reporting units: one for our Springfield, Massachusetts; Houlton, Maine; and Deep River, Connecticut facilities and a second for our Columbia, Missouri facility. As of April 30, 2015, we had $75.4 million of goodwill, of which $13.8 million related to our DRP Acquisition and $61.6 million related to our BTI Acquisition.

We periodically review long-lived assets for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable or that the useful lives of those assets are no longer appropriate. We base each impairment test on a comparison of the undiscounted cash flows to the recorded carrying value for the asset. If impairment is indicated, the asset is written down to its estimated fair value based on a discounted cash flow analysis. No impairment charges were taken for continuing operations in fiscal 2015, 2014, or 2013 based on the review of long-lived assets.

We utilize an income approach, with discounted cash flows, to estimate the fair value of each reporting unit. We selected this method because we believe that it most appropriately measures our income producing assets. We considered using the market approach and the cost approach, but concluded that they were not appropriate in valuing our reporting units given the lack of relevant and available market comparisons. The income approach is based on the projected cash flows that are discounted to their present value using discount rates that consider the timing and risk of the forecasted cash flows. We believe that this approach is appropriate because it provides a fair value estimate based upon the reporting unit’s expected long-term operating cash performance. This approach also mitigates the impact of the cyclical trends that occur in our industry. Fair value is estimated using internally-developed forecasts and assumptions. The discount rate used is the average estimated value of a market participant’s cost of capital and debt, derived using customary market metrics. Other significant assumptions include terminal value margin rates, future capital expenditures, and changes in future working capital requirements. We also compare and reconcile our overall fair value to our market capitalization. While there are inherent uncertainties related to the assumptions used and to our application of these assumptions to this analysis, we believe that the income approach provides a reasonable estimate of the fair value of our reporting units. The foregoing assumptions were consistent with our long-term performance, with limited exceptions. We believe that our future investments for capital expenditures as a percent of revenue will decline in future years because of our improved utilization resulting from lean initiatives, and we believe that days sales outstanding will decline with any increase in revenues. We also have assumed that our markets have not contracted for the long term through the current economic downturn; however, it may be a number of years before they fully recover. These assumptions could deviate materially from actual results.

Significant judgments and estimates are involved in determining the useful lives of our long-lived assets, determining what reporting units exist, and assessing when events or circumstances would require an interim impairment analysis of goodwill or other long-lived assets to be performed. Changes in our organization or our management reporting structure, as well as other events and circumstances, including technological advances, increased competition, and changing economic or market conditions, could result in (a) shorter estimated useful lives, (b) additional reporting units, which may require alternative methods of estimating fair values or greater disaggregation or aggregation in our analysis by reporting unit, and (c) other changes in previous assumptions or estimates. A change in the weighted average cost of capital, for example, could materially change the valuation and, if increased, could cause an impairment. In turn, this could have an additional impact on our consolidated financial statements through accelerated amortization and impairment charges.

Income Taxes — The provision for income taxes is based upon income reported in the accompanying consolidated financial statements. As required by ASC 740-10, Accounting for Income Taxes, we record tax assets or liabilities for the temporary differences between the book value and tax bases in assets and liabilities. In assessing the realization of our deferred income tax assets, we consider whether it is more likely than not that the deferred income tax assets will be realized. The ultimate realization of our deferred income tax assets depends upon generating future taxable income during the periods in which our temporary differences become deductible and before our net operating loss carryforwards expire. We evaluate the recoverability of our deferred income tax assets by assessing the need for a valuation allowance on a quarterly basis. If we determine that it is more likely than not that our deferred income tax assets will not be recovered, we establish a valuation allowance against some or all of our deferred income tax assets. Recording a valuation allowance or reversing a valuation allowance could have a significant effect on our future results of operations and financial position. We measure these deferred taxes by applying tax rates expected to be in place when the deferred items become subject to income tax or deductible for income tax purposes.

Warranty — We generally provide a limited one-year warranty and a lifetime service policy to the original purchaser of our new firearm products. We provide for estimated warranty obligations in the period in which we recognize the related revenue. We quantify and record an estimate for warranty-related costs based on our actual historical claims experience and current repair costs. We make adjustments to accruals as warranty claims data and historical experience warrant. Should we experience actual claims and repair costs that are higher than the estimated claims and repair costs used to calculate the provision, our operating results for the period or periods in which such returns or additional costs materialize would be adversely impacted.

On August 22, 2013, we issued a safety alert related to all M&P Shield products manufactured prior to August 19, 2013. On June 13, 2013, we initiated a recall of all Thompson/Center Arms bolt action rifles manufactured since the products’ introduction in 2007. As of April 30, 2015, we had incurred $5.5 million in recall and safety alert costs, and we estimated the remaining cost to be $3.2 million, which is recorded in the accrued warranty balance. Warranty expense for the fiscal years ended April 30, 2015, 2014, and 2013 amounted to $4.3 million, $3.6 million, and $7.1 million, respectively.

The following table sets forth the change in accrued warranties, a portion of which is recorded as a non-current liability, in the fiscal years ended April 30, 2015, 2014, and 2013 (in thousands):

		April 30, 2015			April 30, 2014			April 30, 2013
Beginning Balance		$	7,565		$	8,423		$	6,412
	Warranties issued and adjustments to provisions		4,292			3,620			7,093
	Warranty claims		(3,204	)		(4,478	)		(5,082	)
Ending Balance		$	8,653		$	7,565		$	8,423

Sales and Promotional Related Expenses — We present product sales in our consolidated financial statements, net of customer promotional program costs that depend upon the volume of sales, which amounted to $6.9 million, $1.6 million, and $5.1 million for the fiscal years ended April 30, 2015, 2014, and 2013, respectively. We have a co-op advertising program at the retail level. We expensed costs amounting to $2.8 million, $1.9 million, and $1.5 million for fiscal 2015, 2014, and 2013, respectively, as selling and marketing expenses.

Shipping and Handling — In the accompanying consolidated financial statements, we included amounts billed to customers for shipping and handling in net sales. We included our costs relating to shipping and handling charges, including inbound freight charges, internal transfer costs, and the other costs of our distribution network, in cost of goods sold.

Insurance Reserves — We are self-insured through retentions or deductibles for the majority of our workers’ compensation, automobile, general liability, product liability, and group health insurance programs. Self-insurance amounts vary up to $3.0 million per occurrence. We record our liability for estimated premiums and incurred losses in the accompanying consolidated financial statements on an undiscounted basis.

Recently Issued Accounting Standard — In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606), or ASU 2014-09. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective for interim reporting periods beginning October 1, 2017. Early adoption is not permitted. We are currently evaluating the impact, if any, that ASU 2014-09 will have on our consolidated financial statements.

Discontinued Operations	12 Months Ended
Discontinued Operations	Apr. 30, 2015
Discontinued Operations And Disposal Groups [Abstract]
Discontinued Operations	4. Discontinued Operations During fiscal 2010, we acquired all of the outstanding capital stock of SWSS. During fiscal 2013, we committed to a plan to divest the assets, liabilities, and ongoing operations of our security solutions division. The operating results of SWSS relate primarily to legal fees associated with retained liabilities and are classified as discontinued operations. We present discontinued operations as a separate line in the consolidated statements of income for all periods presented.

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

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-Section 50
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-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759

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-Publisher FASB
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-Publisher FASB
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+ Details

Notes Payable and Financing Arrangements	12 Months Ended
Notes Payable and Financing Arrangements	Apr. 30, 2015
Debt Disclosure [Abstract]
Notes Payable and Financing Arrangements	5. Notes Payable and Financing Arrangements Credit Facilities — On July 15, 2014, we entered into a $75.0 million unsecured credit facility. On November 25, 2014, we partially exercised the accordion feature of the credit facility to increase it by $50.0 million to $125.0 million in connection with the BTI Acquisition. On April 13, 2015, we exercised the remaining $50.0 million expansion under the accordion feature to increase the line of credit available to us to $175.0 million. The credit facility was scheduled to mature on December 15, 2016 and bore interest at a variable rate equal to LIBOR or prime, at our election, plus an applicable margin based on our consolidated leverage ratio. As of April 30, 2015, there were no borrowings outstanding. Had there been borrowings, they would have borne an interest rate of 4.00% per annum if we had selected the prime rate option and a range of 2.18% to 2.28% per annum if we had selected the LIBOR rate option. As discussed below, we entered into a new credit agreement, which consists of a revolving line of credit and term loan that replaced the $175.0 million credit facility. New Credit Facility – On June 15, 2015, we entered into a new unsecured credit facility with TD Bank, N.A. and other lenders, or the Lenders, which included a $175.0 million revolving line of credit, or the Revolving Line, and a $105.0 million term loan, or the Term Loan. The Revolving Line provides for availability until June 15, 2020 for general corporate purposes and borrowings bear interest at a variable rate equal to LIBOR or prime plus an applicable margin based on our consolidated leverage ratio, at our election. The Term Loan, which bears interest at a variable rate, was entered into for the purpose of redeeming the 5.875% Senior Notes due 2017, or the 5.875% Senior Notes. We are required to obtain interest rate protection through a swap contract covering not less than 75% of the aggregate outstanding principal balance. The Term Loan requires principal payments of 6.000% per annum paid quarterly. Any remaining outstanding amount on the maturity date of June 15, 2020 will be due in full. Concurrent with closing the Term Loan, the 5.875% Senior Notes were redeemed for a 2.9375% call premium, plus accrued and unpaid interest at the redemption date. As part of the redemption, in fiscal 2016, we wrote off $1.7 million of debt-issue costs related to the 5.875% Senior Notes. 9.5% Senior Notes — During fiscal 2011, we issued an aggregate of $50.0 million of 9.5% senior notes due 2016, or the 9.5% Senior Notes. During fiscal 2013, we repurchased a total of $6.4 million of these notes and, during the fiscal year ended April 30, 2014, retired the remaining notes, as described below. 5.875% Senior Notes — During fiscal 2014, we sold an aggregate of $47.1 million of 5.875% Senior Notes to various qualified institutional buyers in exchange for approximately $42.8 million of our then-outstanding 9.5% Senior Notes held by existing holders of such notes. We also issued an additional $52.9 million of new 5.875% Senior Notes for cash. The remaining $712,000 of 9.5% Senior Notes outstanding after the exchange noted above were extinguished via legal defeasance during fiscal 2014. The 5.875% Senior Notes were sold pursuant to the terms and conditions of an indenture, or the 5.875% Senior Notes Indenture, and exchange and purchase agreements. The 5.875% Senior Notes bore interest at a rate of 5.875% per annum payable on June 15 and December 15 of each year, beginning on December 15, 2013. We recorded $4.3 million of interest expense related to bond premium and $795,000 of debt issuance write-off costs relating to the exchange and defeasance of the 9.5% Senior notes during fiscal 2014. As discussed below, the 5.875% Senior Notes were redeemed on June 15, 2015 with proceeds from a term loan we entered into as part of our new credit facility. 5.000% Senior Notes – During fiscal 2015, we issued an aggregate of $75.0 million of 5.000% Senior Notes due 2018, or the 5.000% Senior Notes, to various institutional investors pursuant to the terms and conditions of an indenture, or the 5.000% Senior Notes Indenture, and collectively with the 5.875% Senior Notes Indenture, the Senior Notes Indentures, and purchase agreements. The 5.000% Senior Notes bear interest at a rate of 5.000% per annum payable on January 15 and July 15 of each year, beginning on January 15, 2015. We incurred $2.3 million of debt issuance costs related to the issuance of the 5.000% Senior Notes. At any time prior to July 15, 2016, we may, at our option (a) upon not less than 30 nor more than 60 days’ prior notice, redeem all or a portion of the 5.000% Senior Notes at the redemption price of 100% of the principal amount of the 5.000% Senior Notes, plus an applicable premium, plus accrued and unpaid interest as of the redemption date; or (b) redeem up to 35% of the aggregate principal amount of the 5.000% Senior Notes with the net cash proceeds of one or more equity offerings at a redemption price of 105.000% of the principal amount of the 5.000% Senior Notes, plus accrued and unpaid interest as of the redemption date; provided, that in the case of the foregoing clause, at least 65% of the aggregate original principal amount of the 5.000% Senior Notes remains outstanding, and the redemption occurs within 60 days after the closing of the equity offering. On and after July 15, 2016, we may, at our option, upon not less than 30 nor more than 60 days’ prior notice, redeem all or a portion of the 5.000% Senior Notes at a redemption price of (a) 102.500% of the principal amount of the 5.000% Senior Notes to be redeemed, if redeemed during the 12-month period beginning on July 15, 2016; or (b) 100% of the principal amount of the 5.000% Senior Notes to be redeemed, if redeemed during the 12-month period beginning on July 15, 2017, plus, in either case, accrued and unpaid interest on the 5.000% Senior Notes as of the applicable redemption date. Subject to certain restrictions and conditions, we may be required to make an offer to repurchase the 5.000% Senior Notes from the holders of the 5.000% Senior Notes in connection with a change of control or disposition of assets. If not redeemed by us or repaid pursuant to the holders’ right to require repurchase, the 5.000% Senior Notes mature on July 15, 2018. The 5.000% Senior Notes are general, unsecured obligations of our company. The 5.000% Senior Notes Indenture contains certain affirmative and negative covenants, including limitations on restricted payments (such as share repurchases, dividends, and early payment of indebtedness), limitations on indebtedness, limitations on the sale of assets, and limitations on liens. Payments that would otherwise be characterized as restricted payments are permitted under the 5.000% Senior Notes Indenture in an amount not to exceed 50% of our consolidated net income for the period from the issue date to the date of the restricted payment, provided that at the time of making such payments, (a) no default has occurred or would result from the making of such payments, and (b) we are able to satisfy the debt incurrence test under the 5.000% Senior Notes Indenture, or the 5.000% Senior Notes Lifetime Aggregate Limit. In addition, the 5.000% Senior Notes Indenture provides for other exceptions to the restricted payments covenant, each of which are independent of the 5.000% Senior Notes Lifetime Aggregate Limit. Among such exceptions are (i) the ability to make share repurchases each fiscal year in an amount not to exceed the lesser of (A) $50.0 million in any fiscal year or (B) 75.0% of our consolidated net income for the previous four consecutive published fiscal quarters prior to the date of the determination of such consolidated net income, and (ii) share repurchases over the life of the 5.000% Senior Notes in an aggregate amount not to exceed $75.0 million. The limitation on indebtedness in the Senior Notes Indentures is only applicable at such time that the consolidated coverage ratio (as set forth in the Senior Notes Indentures) for us and our restricted subsidiaries is less than 3.00 to 1.00. In general, as set forth in the Senior Notes Indentures, the consolidated coverage ratio is determined by comparing our prior four quarters’ consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) to our consolidated interest expense. The carrying value of our 5.875% Senior Notes and 5.000% Senior Notes as of April 30, 2015 approximates fair value in considering Level 2 inputs within the hierarchy. Debt Issuance Costs — We recorded, in other assets, $2.6 million and $3.8 million of debt issuance costs for the fiscal years ended April 30, 2015 and 2014, respectively. These costs are being amortized to expense over the life of the credit facility or the Senior Notes Indentures. In total, we amortized $1.5 million, $1.9 million, and $680,000 to interest expense for all debt issuance costs in fiscal 2015, 2014, and 2013, respectively, including write-offs related to extinguishment. As of April 30, 2015, our revolving credit facility contained financial covenants relating to maintaining maximum leverage and minimum debt service coverage. The Senior Notes Indentures contain a financial covenant relating to times interest earned. Letters of Credit — At April 30, 2015, we had outstanding letters of credit aggregating $1.0 million.

Net Sales

12 Months Ended

Apr. 30, 2015

Disclosure Net Sales [Abstract]

Net Sales

6. Net Sales

The following table sets forth the breakdown of net sales for the fiscal years ended April 30, 2015, 2014, and 2013, respectively (in thousands):

	For the Year Ended April 30,
	2015		2014			2013
Handguns	$	395,500	$		422,992	$		324,627
Long Guns		90,178			155,311			179,187
Walther		506			5,651			41,646
Other Products & Services		45,038			42,666			42,054
Firearm Division		531,222			626,620			587,514
Accessories Division		20,640		—			—
Total Net Sales	$	551,862	$		626,620	$		587,514

All of our firearms are currently sold under our Smith & Wesson, M&P, and Thompson/Center Arms brands. In addition, through our Performance Center, we offer small, specialized, and enhanced models sold under the Smith & Wesson and M&P brands. Depending upon the product or service, our firearm customers include distributors; federal, state, and municipal law enforcement agencies and officers; government and military agencies; businesses; retailers; and consumers. We sell accessories under our Caldwell Shooting Supplies, Wheeler Engineering, Tipton Gun Cleaning Supplies, Frankford Arsenal Reloading Tools, Lockdown Vault Accessories, Hooyman Premium Tree Saws, BOG-POD, and Golden Rod Moisture Control brands. Our accessories customers are generally businesses, retailers, and consumers.

We sell our products worldwide. The following table sets forth the breakdown of export net sales included in the above table. Our export net sales accounted for 4%, 3%, and 3% of total net sales for the fiscal years ended April 30, 2015, 2014, and 2013, respectively (in thousands):

	For the Year Ended April 30,
Region	2015		2014		2013

Europe	$	8,164	$	6,279	$	2,979
Asia		1,463		1,766		6,319
Latin America		1,643		200		1,693
All others international		11,570		9,605		8,003

Total net international sales	$	22,840	$	17,850	$	18,994

We had no assets relating to our firearm business located outside the United States during any of the periods presented; we own tooling relating to our accessories business that is located at various suppliers in Asia.

Advertising Costs	12 Months Ended
Advertising Costs	Apr. 30, 2015
Marketing And Advertising Expense [Abstract]
Advertising Costs	7. Advertising Costs We expense advertising costs, primarily consisting of magazine advertisements, printed materials, television advertisements, and our new retail sales associate rewards program, either as incurred or upon the first occurrence of the advertising. Advertising expense, included in selling and marketing expenses, for continuing operations for the fiscal years ended April 30, 2015, 2014, and 2013, amounted to $20.2 million, $19.5 million, and $15.1 million, respectively.

Property, Plant, and Equipment

12 Months Ended

Apr. 30, 2015

Property Plant And Equipment [Abstract]

Property, Plant, and Equipment

8. Property, Plant, and Equipment

The following table summarizes property, plant, and equipment as of April 30, 2015 and 2014 (in thousands):

	April 30, 2015			April 30, 2014

Machinery and equipment	$	191,480		$	156,030
Software and hardware		30,945			27,331
Building and improvements		19,946			12,187
Land and improvements		3,214			2,150

		245,585			197,698
Less: Accumulated depreciation and amortization		(116,663	)		(93,138	)

		128,922			104,560
Construction in progress		4,922			15,880

Total property, plant, and equipment, net	$	133,844		$	120,440

Depreciation of tangible assets and amortization of software expense from continuing operations amounted to $24.8 million, $19.1 million, and $15.4 million for the fiscal years ended April 30, 2015, 2014, and 2013, respectively.

The following table summarizes depreciation and amortization expense for continuing operations, which includes amortization of intangibles and debt financing costs, by line item for the fiscal years ended April 30, 2015, 2014, and 2013 (in thousands):

	For the Year Ended April 30,
	2015		2014		2013
Cost of products and services sold	$	20,640	$	16,505	$	14,238
Research and development		403		325		116
Selling and marketing		255		207		247
General and administrative		8,134		2,720		1,449
Interest expense		1,461		1,947		680
Total depreciation and amortization	$	30,893	$	21,704	$	16,730

Inventories

12 Months Ended

Apr. 30, 2015

Inventory Disclosure [Abstract]

Inventories

9. Inventories

The following table sets forth a summary of inventories, net of reserves, stated at lower of cost or market, as of April 30, 2015 and 2014 (in thousands):

	April 30, 2015		April 30, 2014
Finished goods	$	28,240	$	26,523
Finished parts		34,269		47,109
Work in process		7,492		7,643
Raw material		6,894		5,467
Total inventories	$	76,895	$	86,742

Intangible Assets

12 Months Ended

Apr. 30, 2015

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

10. Intangible Assets

The following table presents a summary of intangible assets for the year ended April 30, 2015 and 2014 (in thousands):

				Weighted Average						Weighted Average
				Life						Life
	April 30, 2015 (a)			(in years)		April 30, 2014				(in years)
Developed technology	$	16,630			5.2	$	—			—
Customer relationships		28,260			6.1			1,740			9.1
Patents, trademarks, and tradenames		36,378			5.3			4,986			5.5
		81,268						6,726
Less: Accumulated amortization		(7,950	)					(3,603	)
		73,318						3,123
Patents in progress		450						302
Total intangible assets, net	$	73,768				$		3,425

(a) The primary increase in intangible assets over the prior year is as a result of the BTI Acquisition.

Amortization expense, excluding amortization of deferred financing costs, amounted to $4.6 million, $645,000, and $639,000 for the fiscal years ended April 30, 2015, 2014, and 2013, respectively.

		Expected
For the Year Ended April 30,		Amortization
2016	$		11,341
2017			10,552
2018			9,798
2019			8,606
2020			7,448
Thereafter			25,573
Total expected amortization	$		73,318

Accrued Expenses

12 Months Ended

Apr. 30, 2015

Payables And Accruals [Abstract]

Accrued Expenses

11. Accrued Expenses

The following table sets forth other accrued expenses as of April 30, 2015 and 2014 (in thousands):

	April 30, 2015		April 30, 2014
Accrued rebates and promotions	$	4,126	$	2,633
Interest payable		3,362		2,194
Accrued employee benefits		3,065		2,148
Accrued professional fees		2,335		2,374
Accrued workers' compensation		833		916
Accrued distributor incentives		761		590
Accrued other		4,539		6,252
Total accrued expenses	$	19,021	$	17,107

Fair Value Measurement

12 Months Ended

Apr. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurement

12. Fair Value Measurement

We follow the provisions of ASC 820-10, Fair Value Measurements and Disclosures Topic, for our financial assets and liabilities. ASC 820-10 provides a framework for measuring fair value under GAAP and requires expanded disclosures regarding fair value measurements. ASC 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820-10 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs, where available, and minimize the use of unobservable inputs when measuring fair value.

Financial assets and liabilities recorded on the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:

Level 1 — Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that we have the ability to access at the measurement date (examples include active exchange-traded equity securities, listed derivatives, and most U.S. Government and agency securities).

Our cash equivalents, which are measured at fair value on a recurring basis, totaled $42.1 million and $68.8 million as of April 30, 2015 and 2014, respectively. We utilized Level 1 of the value hierarchy to determine the fair values of these assets.

Level 2 — Financial assets and liabilities whose values are based on quoted prices in markets in which trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets. Level 2 inputs include the following:

·	quoted prices for identical or similar assets or liabilities in non-active markets (such as corporate and municipal bonds which trade infrequently);

·	inputs other than quoted prices that are observable for substantially the full term of the asset or liability (examples include interest rate and currency swaps); and

·	inputs that are derived principally from or corroborated by observable market data for substantially the full term of the asset or liability (such as certain securities and derivatives).

We currently do not have any Level 2 financial assets or liabilities other than our 5.875% Senior Notes and 5.000% Senior Notes as referenced in Note 5.

Level 3 — Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect our assumptions about the assumptions a market participant would use in pricing the asset or liability.

We currently do not have any Level 3 financial assets or liabilities.

Self-Insurance Reserves

12 Months Ended

Apr. 30, 2015

Commitments And Contingencies Disclosure [Abstract]

Self-Insurance Reserves

13. Self-Insurance Reserves

As of April 30, 2015 and 2014, we had reserves for workers’ compensation, product liability, municipal liability, and medical/dental costs totaling $9.6 million and $9.2 million, respectively, of which $6.2 million and $5.8 million, respectively, have been classified as non-current and have been included in other non-current liabilities. As of both April 30, 2015 and 2014, $3.4 million has been included in accrued expenses on the accompanying consolidated balance sheets. In addition, as of April 30, 2015 and 2014, $587,000 and $361,000 of workers’ compensation recoverable has been classified as an other asset. While we believe these reserves to be adequate, it is possible that the ultimate liabilities will exceed such estimates. Amounts charged to expense were $12.9 million, $10.7 million, and $12.2 million for the fiscal years ended April 30, 2015, 2014, and 2013, respectively.

The following table is a summary of the activity in the workers’ compensation, product liability, municipal liability, and medical/dental reserves in the fiscal years ended April 30, 2015, 2014, and 2013 (in thousands):

	For the Year Ended April 30,
	2015			2014			2013

Beginning balance	$	9,185		$	9,570		$	8,980
Additional provision charged to expense		12,925			10,721			12,201
Payments		(12,500	)		(11,106	)		(11,611	)

Ending balance	$	9,610		$	9,185		$	9,570

It is our policy to provide an estimate for loss as a result of expected adverse findings or legal settlements on product liability, municipal liability, workers’ compensation, and other matters when such losses are probable and are reasonably estimable. It is also our policy to accrue for reasonable estimable legal costs associated with defending such litigation. While such estimates involve a range of possible costs, we determine, in consultation with litigation counsel, the most likely cost within such range on a case-by-case basis. We also record receivables from insurance carriers relating to these matters when their collection is probable. As of April 30, 2015 and 2014, we had accrued reserves for product and municipal litigation liabilities of $3.8 million and $3.9 million, respectively (of which $3.1 million and $2.8 million, respectively, were non-current), consisting entirely of expected legal defense costs. In addition, as of April 30, 2015 and 2014, we had recorded receivables from insurance carriers related to these liabilities of $1.9 million, nearly all of which has been classified as other assets with $25,000 classified as other current assets.

Stockholders' Equity

12 Months Ended

Apr. 30, 2015

Equity [Abstract]

Stockholders' Equity

14. Stockholders’ Equity

Treasury Stock

During fiscal 2014, our board of directors authorized the repurchase of up to $115.0 million of our common stock, of which up to $75.0 million was authorized for purchase in a tender offer and the remainder of which could be repurchased in the open market or in privately negotiated transactions. During fiscal 2014, we repurchased 1,417,233 shares of our common stock pursuant to the tender offer that expired on July 23, 2013 for $15.6 million and 8,740,471 shares of our common stock in the open market for $99.4 million, in each case, utilizing cash on hand, completing our $115.0 million stock repurchase program. Fees and expenses incurred related to the tender offer and open market purchases in fiscal 2014 were $887,000 and were recorded in treasury stock.

At the end of fiscal 2014, our board of directors authorized the repurchase of up to $30.0 million of our common stock, subject to certain conditions, in the open market or privately negotiated transactions, commencing no earlier than May 1, 2014. During fiscal 2015, we completed this stock repurchase program by repurchasing 2,105,315 shares of our common stock for $30.0 million, utilizing cash on hand. Fees and expenses incurred related to open market purchases in fiscal 2015 were $40,000 and were recorded in treasury stock.

Incentive Stock and Employee Stock Purchase Plans

We have two stock plans, or SPs: the 2004 Incentive Stock Plan and the 2013 Incentive Stock Plan. New grants under the 2004 Incentive Stock Plan have not been made since the approval of the 2013 Incentive Stock Plan at our September 23, 2013 annual meeting of stockholders. All new grants covering all participants are issued under the 2013 Incentive Stock Plan.

The 2013 Incentive Stock Plan authorizes the issuance of 3,000,000 shares, plus any shares that were reserved and remained available for grant and delivery under the 2004 Incentive Stock Plan as of September 23, 2013, the effective date of the 2013 Incentive Stock Plan. The plan permits the grant of options to acquire common stock, restricted stock awards, RSUs, stock appreciation rights, bonus stock and awards in lieu of obligations, performance awards, and dividend equivalents. Our board of directors, or a committee established by our board, administers the SPs, selects recipients to whom awards are granted, and determines the grants to be awarded. Options granted under the SPs are exercisable at a price determined by our board or committee at the time of grant, but in no event, less than fair market value of our common stock on the date granted. Grants of options may be made to employees and directors without regard to any performance measures. All options issued pursuant to the SPs are generally nontransferable and subject to forfeiture.

Unless terminated earlier by our board of directors, the 2013 Incentive Stock Plan will terminate at the earliest of (1) the tenth anniversary of the effective date of the 2013 Stock Plan, or (2) such time as no shares of common stock remain available for issuance under the plan and we have no further rights or obligations with respect to outstanding awards under the plan. The date of grant of an award is deemed to be the date upon which our board of directors or board committee authorizes the granting of such award.

Except in specific circumstances, grants vest over a period of three or four years and are exercisable for a period of 10 years. The plan also permits the grant of awards to non-employees, which our board of directors has authorized in the past.

The number of shares and weighted average exercise prices of options for the fiscal years ended April 30, 2015, 2014, and 2013 are as follows:

	For the Year Ended April 30,
	2015					2014					2013
				Weighted-					Weighted-					Weighted-
				Average					Average					Average
	Shares			Exercise Price		Shares			Exercise Price		Shares				Exercise Price
Options outstanding, beginning of year		2,258,349		$	6.15		3,019,127		$	5.31		3,988,164		$		4.67
Granted during the period	—			—		—			—			3,500				11.02
Exercised during the period		(365,719	)		4.96		(732,778	)		2.73		(847,042	)			4.10
Canceled/forfeited during period		(13,000	)		7.98		(28,000	)		5.59		(125,495	)			3.87
Options outstanding, end of period		1,879,630		$	6.37		2,258,349		$	6.15		3,019,127		$		5.31
Weighted average remaining contractual life	5.02 years					6.04 years					6.02 years
Options exercisable, end of period		1,878,464		$	6.36		1,873,494		$	6.29		2,087,675		$		5.38
Weighted average remaining contractual life	5.02 years					5.75 years					5.00 years

As of April 30, 2015, there were 5,738,521 shares available for grant under the 2013 Incentive Stock Plan. We use our unissued share pool for all shares issued for options, restricted share awards, RSUs, PSUs, and Employee Stock Purchase Plan, or ESPP, issuances.

The aggregate intrinsic value of outstanding options as of April 30, 2015, 2014, and 2013 was $16.1 million, $20.8 million, and $12.1 million, respectively. The aggregate intrinsic value of outstanding options that were exercisable as of April 30, 2015, 2014, and 2013 was $16.0 million, $17.0 million, and $8.7 million, respectively. The aggregate intrinsic value of the options exercised for the years ended April 30, 2015, 2014, and 2013 was $2.9 million, $7.3 million, and $5.1, respectively. At April 30, 2015, the total of unrecognized compensation cost of outstanding options was $1,000, which will be recognized over the remaining weighted average vesting period of 0.41 years.

On September 26, 2011, our stockholders approved our 2011 ESPP, to replace our expired 2001 ESPP, which authorized the sale of up to 6,000,000 shares of our common stock to employees. All option and rights to participate in our ESPP are nontransferable and subject to forfeiture in accordance with our ESPP guidelines. Our current ESPP will be implemented in a series of successive offering periods, each with a maximum duration of 12 months. If the fair market value, or FMV, per share of our common stock on any purchase date is less than the FMV per share on the start date of a 12-month offering period, then that offering period will automatically terminate, and a new 12-month offering period will begin on the next business day. Each offering period will begin on April 1 or October 1, as applicable, immediately following the end of the previous offering period. Payroll deductions will be on an after-tax basis, in an amount of not less than 1% and not more than 20% (or such greater percentage as the committee appointed to administer our ESPP may establish from time to time before the first day of an offering period) of a participant’s compensation on each payroll date. The option exercise price per share will equal 85% of the lower of the FMV on the first day of the offering period or the FMV on the exercise date. The maximum number of shares that a participant may purchase during any purchase period is 12,500 shares, or a total of $25,000 in shares, based on the FMV on the first day of the offering period. Our ESPP will remain in effect until the earliest of (a) the exercise date that participants become entitled to purchase a number of shares greater than the number of reserved shares available for purchase under our ESPP, (b) such date as is determined by our Board of Directors in its discretion, or (c) March 31, 2022. In the event of certain corporate transactions, each option outstanding under our ESPP will be assumed or an equivalent option will be substituted by the successor corporation or a parent or subsidiary of such successor corporation. During fiscal 2015, 2014, and 2013, 161,456, 176,204, and 185,218 shares, respectively, were purchased under our ESPP.

We measure the cost of employee services received in exchange for an award of an equity instrument based on the grant-date fair value of the award. We calculate the fair value of our stock options issued to employees using the Black-Scholes model at the time the options were granted. That amount is then amortized over the vesting period of the option. With our ESPP, fair value is determined at the beginning of the purchase period and amortized over the term of each exercise period.

The following assumptions were used in valuing our options and ESPP purchases during the years ended April 30, 2015, 2014, and 2013:

	For the Year Ended April 30,
	2015	2014		2013
Stock option grants:
Risk-free interest rate	—	—	0		0.31	%
Expected term	—	—		5.84 - 7.84 years
Expected volatility	—	—			70.0	%
Dividend yield	—	—			0	%
Employee Stock Purchase Plan:
Risk-free interest rate	0.07%	0.08%			0.13	%
Expected term	6 months	6 months		6 months
Expected volatility	38.2%	41.9%			56.3	%
Dividend yield	0%	0%			0	%

We estimate expected volatility using historical volatility for the expected term. The fair value of each stock option or ESPP purchase was estimated on the date of the grant using the Black-Scholes option pricing model (using the risk-free interest rate, expected term, expected volatility, and dividend yield variables, as noted in the above table). The total stock-based compensation expense, including stock options, purchases under our ESPP, and RSU and PSU awards, was $5.8 million, $8.2 million, and $4.1 million, for fiscal years 2015, 2014, and 2013, respectively.

The following table summarizes stock compensation expense for continuing operations by line item for the fiscal years ended April 30, 2015, 2014, and 2013 (in thousands):

	For the Year Ended April 30,
		2015		2014		2013
Cost of sales	$	520	$	332	$	331
Research and development		139		74		39
Selling and marketing		379		225		92
General and administrative		4,770		7,581		3,611
Total stock-based compensation	$	5,808	$	8,212	$	4,073

We grant service-based RSUs to employees, consultants, and directors. The awards are made at no cost to the recipient. An RSU represents the right to acquire one share of our common stock and does not carry voting or dividend rights. Except in specific circumstances, RSU grants to employees generally vest over a period of three or four years with one-third or one-fourth of the units vesting, respectively, on each anniversary date of the grant date. The aggregate fair value of our RSU grants is amortized to compensation expense over the vesting period.

We grant PSUs with market conditions to our executive officers, and we grant PSUs without market-conditions to our employees who are not executive officers. At the time of grant, we calculate the fair value of our market-condition PSUs using the Monte-Carlo simulation. We incorporate the following variables into the valuation model:

		For the Year Ended April 30,
			2015			2014				2013
Grant date fair market value
Smith & Wesson Holding Corporation	$		14.90		$		15.21		$	8.71
Russell 2000 Index	$		1,246.95		$		1,120.83		$		935.25
Volatility (a)
Smith & Wesson Holding Corporation			44.51	%			49.85	%			49.28	%
Russell 2000 Index			15.76	%			23.07	%			25.72	%
Correlation coefficient (b)			0.32				0.46			0.47
Risk-free interest rate (c)			0.91	%			0.91	%			0.32	%
Dividend yield (d)			0	%			0	%			0	%

(a)	Expected volatility is calculated over the most recent period that represents the remaining term of the performance period as of the valuation date, or three years.

(b)	The correlation coefficient utilizes the same historical price data used to develop the volatility assumptions.

(c)	The risk-free interest rate is based on the yield of a zero-coupon U.S. Treasury bill, commensurate with the three-year performance period.

(d)	We do not expect to pay dividends in the foreseeable future.

The market-condition PSUs vest, and the fair value of such PSUs will be recognized, over the corresponding three-year performance period. Our market-condition PSUs have a maximum aggregate award equal to 200% of the target amount granted. The number of market-condition PSUs that may be earned depends upon the total stockholder return, or TSR, of our common stock compared with the TSR of the Russell 2000 Index, or RUT, over the three-year performance period. For our fiscal 2014 and 2013 PSUs, our stock must outperform the RUT by 10% in order for the target award to vest. For our fiscal 2015 PSUs, our stock must outperform the RUT by 5% in order for the target award to vest. In addition, there is a cap on the number of shares that can be earned under the fiscal 2015 PSUs equal to six times the grant-date value of each award.

In certain circumstances beginning with the fiscal 2015 RSUs and PSUs, the vested awards will be delivered on the first anniversary of the applicable vesting date. We have applied a discount to the grant date fair value when determining the amount of compensation expense to be recorded for these RSUs and PSUs.

During the year ended April 30, 2015, we granted 112,000 market-condition PSUs to certain of our executive officers. We also granted 554,933 service-based RSUs during the year ended April 30, 2015, including 125,000 RSUs to certain of our executive officers, 46,639 RSUs to our directors, and 379,433 RSUs to non-executive officer employees. In addition, in connection with a 2011 grant, we vested 46,600 market-condition PSUs (i.e., the target amount granted), which achieved the maximum aggregate award possible resulting in awards totaling 93,200 shares to certain of our executive officers and a former executive officer. Compensation expense recognized related to grants of RSUs and PSUs was $5.1 million for the fiscal year ended April 30, 2015.

During the fiscal year ended April 30, 2015, we canceled 57,752 service-based RSUs and 41,250 PSUs without market-conditions as a result of the service period condition not being met and delivered 433,266 shares of common stock to current employees under vested RSUs and PSUs with a total market value of $5.4 million.

During the fiscal year ended April 30, 2014, we granted 117,500 market-condition PSUs to certain of our executive officers. We also granted 565,556 service-based RSUs during the year ended April 30, 2014, including 351,400 RSUs to certain of our executive officers, 42,238 RSUs to our directors, 164,918 RSUs to non-executive officer employees, and 7,000 RSUs to consultants. In addition, we granted and vested 30,000 market-condition PSUs to an executive officer and a former executive officer in connection with a 2010 award that achieved the maximum aggregate award. Compensation expense recognized related to grants of RSUs and PSUs was $6.4 million for the fiscal year ended April 30, 2014.

During the fiscal year ended April 30, 2014, we cancelled 17,316 service-based RSUs and 9,000 PSUs without market-conditions as a result of the service period condition not being met and delivered 457,851 shares of common stock to current employees under vested RSUs and PSUs with a total market value of $5.7 million.

During the fiscal year ended April 30, 2013, we granted 152,000 market-condition PSUs to certain of our executive officers and 63,050 PSUs without market conditions to other employees. We also granted 320,279 service-based RSUs during the fiscal year ended April 30, 2013, including 250,250 RSUs to certain of our executive officers, 35,000 RSUs to our directors, 28,029 RSUs to non-executive officer employees, and 7,000 RSUs to consultants. Compensation expense recognized related to grants of RSUs and PSUs was $1.8 million for the fiscal year ended April 30, 2013.

During the fiscal year ended April 30, 2013, we delivered 14,250 PSUs without market-conditions to employees with a total market value of $131,000 and we also delivered 69,637 shares of common stock to certain of our executive officers, employees, and consultants under vested RSUs with a total market value of $595,000.

During the fiscal year ended April 30, 2013, we cancelled 16,996 service-based RSUs and 35,000 market-condition PSUs as a result of the service period condition not being met and 2,000 PSUs without a market-condition as a result of the performance condition not being met.

The grant date fair value of RSUs and PSUs that vested in fiscal 2015, 2014, and 2013 was $4.0 million, $4.0 million, and $726,000, respectively.

A summary of activity in unvested RSUs and PSUs for fiscal years 2015, 2014 and 2013 is as follows:

	For the Year Ended April 30,
	2015					2014					2013
				Weighted					Weighted					Weighted
	Total # of			Average		Total # of			Average		Total # of			Average
	Restricted			Grant Date		Restricted			Grant Date		Restricted			Grant Date
	Stock Units			Fair Value		Stock Units			Fair Value		Stock Units			Fair Value
RSUs and PSUs outstanding, beginning of year		1,015,475		$	10.56		781,586		$	8.42		384,140		$	7.91
Awarded		709,672			11.82		718,056			11.87		535,329			9.43
Vested		(433,266	)		9.18		(457,851	)		8.75		(83,887	)		8.71
Forfeited		(101,002	)		11.93		(26,316	)		8.88		(53,996	)		6.14
RSUs and PSUs outstanding, end of year		1,190,879		$	12.45		1,015,475		$	10.56		781,586		$	8.42

As of April 30, 2015, there was $7.0 million of unrecognized compensation cost related to unvested RSUs and PSUs. This cost is expected to be recognized over a weighted average remaining contractual term of 1.8 years. The aggregate intrinsic value of outstanding RSUs and PSUs as of April 30, 2015, 2014, and 2013 was $3.3 million, $7.1 million, and $491,000, respectively.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
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+ Details

Employer Sponsored Benefit Plans	12 Months Ended
Employer Sponsored Benefit Plans	Apr. 30, 2015
Compensation And Retirement Disclosure [Abstract]
Employer Sponsored Benefit Plans	15. Employer Sponsored Benefit Plans Contributory Defined Investment Plan — We offer two contributory defined investment plans covering substantially all employees, subject to service requirements. Employees may contribute up to 100% of their annual pay, depending on the plan. We generally make discretionary matching contributions of up to 50% of the first 6% of employee contributions to the plan. We contributed $2.3 million, $1.9 million, and $1.7 million for the fiscal years ended April 30, 2015, 2014, and 2013, respectively. Non-Contributory Profit Sharing Plan — We have a non-contributory profit sharing plan covering substantially all of our Springfield, Massachusetts and Houlton, Maine employees. Employees become eligible on May 1 following the completion of a full fiscal year of continuous service. Our contributions to the plan are discretionary. For fiscal 2015, we plan to contribute approximately $6.2 million, which has been recorded in general and administrative costs. We contributed $11.1 million and $9.6 million for the fiscal years ended April 30, 2014 and 2013, respectively. Contributions are funded after the fiscal year-end.

Income Taxes

12 Months Ended

Apr. 30, 2015

Income Tax Disclosure [Abstract]

Income Taxes

16. Income Taxes

We use an asset and liability approach for financial accounting and reporting of income taxes. Deferred tax assets and liabilities are determined based on temporary differences between financial reporting and tax bases of assets and liabilities and are measured by applying enacted tax rates and laws to the taxable years in which differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Income tax expense from continuing operations consists of the following (in thousands):

	For the Year Ended April 30,
	2015			2014			2013
Current:
Federal	$	22,471		$	43,470		$	38,661
State		4,188			6,167			5,982
Total current		26,659			49,637			44,643
Deferred:
Deferred federal		2,274			(1,352	)		1,508
Deferred state		(28	)		(190	)		349
Total deferred		2,246			(1,542	)		1,857
Total income tax expense	$	28,905		$	48,095		$	46,500

The following table presents a reconciliation of the provision for income taxes from continuing operations at statutory rates to the provision in the consolidated financial statements (in thousands):

	For the Year Ended April 30,
	2015				2014			2013
Federal income taxes expected at 35% statutory rate	$		27,556		$	47,853		$	44,767
State income taxes, less federal income tax benefit			3,015			4,535			4,576
Employee Stock Purchase Plan			82			77			131
Business meals and entertainment			205			187			107
Domestic production activity deduction			(2,462	)		(4,325	)		(3,708	)
Research and development tax credit			(100	)		(100	)		(140	)
Change in uncertain tax positions		—				(265	)		237
Other			609			133			530
Total income tax expense	$		28,905		$	48,095		$	46,500

Deferred tax assets (deferred tax liabilities) related to temporary differences are the following (in thousands):

	For the Years Ended April 30,
	2015				2014
Current tax assets (liabilities):	$				$
Inventories			9,587			8,088
Product liability			276			391
Accrued expenses, including compensation			2,934			5,991
Warranty reserve			2,449			2,114
Property taxes			(122	)		(78	)
Promotions			1,497			925
Less valuation allowance			(510	)		(508	)
Other			262			171
Net deferred tax asset — current	$		16,373		$	17,094

Non-current tax assets (liabilities):
Net operating loss carryforwards and tax credits	$		2,809		$	2,633
Environmental reserves			258			238
Product liability			461			371
Workers' compensation			991			975
Warranty reserve			860			785
Stock-based compensation			4,429			4,280
State bonus depreciation			1,002			828
Property, plant, and equipment			(25,612	)		(19,947	)
Intangible assets			(17,083	)		224
Transaction costs		—				57
Pension			91			48
Less valuation allowance			(2,111	)		(1,910	)
Net deferred tax liability — non-current	$		(33,905	)	$	(11,418	)
Net deferred tax asset/(liability) — total	$		(17,532	)	$	5,676

We had federal net operating loss carryforwards amounting to $541,000 as of April 30, 2015, which expire in fiscal 2020. We obtained $8.2 million in additional loss carryforwards through our acquisition of SWSS on July 20, 2009, the majority of which was utilized in fiscal 2010. Utilization of the remaining losses is limited by Section 382 of the Internal Revenue Code to $108,000 in fiscal 2015 and for each taxable year thereafter. It is possible that future substantial changes in our ownership could occur that could result in additional ownership changes pursuant to Section 382 of the Internal Revenue Code. If such an ownership change were to occur, there could be an annual limitation on the remaining tax loss carryforward.

There were $16.8 million and $16.2 million in state net operating loss carryforwards as of April 30, 2015 and 2014, respectively. The state net operating loss carryforwards will expire between April 30, 2016 and April 30, 2033. There were $3.0 million and $2.6 million of state tax credit carryforwards as of April 30, 2015 and 2014, respectively. The state tax credit carryforwards will expire between April 30, 2018 and April 30, 2025, or have no expiration date.

As of April 30, 2015, valuation allowances of $700,000 and $1.9 million were provided on our deferred tax assets for those state net operating loss carryforward, and state tax credits, respectively, that we do not anticipate using prior to their expiration. As of April 30, 2014, valuation allowances of $686,000 and $1.7 million were provided on our deferred tax assets for those state net operating loss carryforwards and state tax credits, respectively, that we do not anticipate using prior to their expiration. The increase in the valuation allowance on our deferred tax assets for state net operating losses and credits and other state deferred tax assets related mainly to Massachusetts Investment Tax Credits. No valuation allowances were provided on our deferred federal income tax assets as of April 30, 2015 or 2014, as we believe that it is more likely than not that all such assets will be realized. Recording a valuation allowance or reversing a valuation allowance could have a significant effect on our future results of operations and financial position. Management is unaware of any recent or expected future changes in tax laws that would have a material impact on our financial statements.

At April 30, 2015 and 2014, we had gross tax-effected unrecognized tax benefits of $91,000 and $84,000, respectively, of which the entire amounts, if recognized, would favorably impact the effective tax rate. Included in the unrecognized tax benefits at April 30, 2015 and 2014, we have $23,000 and $15,000, respectively, of accrued interest and penalties related to uncertain tax positions, which have been recorded in non-current liabilities.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

	April 30,
	2015			2014
Beginning balance	$		84	$	1,091
Interest, penalties, and impact of state deductions on federal taxes			7		(212	)
Lapse of statute of limitations		—			(795	)
Ending balance	$		91	$	84

All of our unrecognized tax benefits has been classified as current income tax liabilities and are recorded in other current liabilities because a payment of cash is anticipated within one year of the balance sheet date or the statute will expire within one year of the balance sheet date.

With limited exception, we are subject to U.S. federal, state, and local, or non-U.S. income tax audits by tax authorities for fiscal years subsequent to April 30, 2011.

Commitments and Contingencies

12 Months Ended

Apr. 30, 2015

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

17. Commitments and Contingencies

Litigation

We are a defendant in eight product liability cases and are aware of approximately nine other product liability claims, primarily alleging defective product design, defective manufacturing, or failure to provide adequate warnings. In addition, we are a co-defendant in a case filed on August 27, 1999 by the city of Gary, Indiana against numerous firearm manufacturers, distributors, and dealers seeking to recover damages allegedly arising out of the misuse of firearms by third parties. We believe that the various allegations as described above are unfounded, and, in addition, that any accident and any results from them were due to negligence or misuse of the firearm by the claimant or a third party.

In addition, we are involved in lawsuits, claims, investigations, and proceedings, including commercial, environmental, and employment matters, which arise in the ordinary course of business.

The relief sought in individual cases primarily includes compensatory and, sometimes, punitive damages. Certain of the cases and claims seek unspecified compensatory or punitive damages. In others, compensatory damages sought may range from less than $75,000 to approximately $1.5 million. In our experience, initial demands do not generally bear a reasonable relationship to the facts and circumstances of a particular matter. We believe that our accruals for product liability cases and claims, as described below, are a reasonable quantitative measure of the cost to us of product liability cases and claims.

We are vigorously defending ourselves in the lawsuits to which we are subject. An unfavorable outcome or prolonged litigation could harm our business. Litigation of this nature also is expensive and time consuming and diverts the time and attention of our management.

We monitor the status of known claims and the related product liability accrual, which includes amounts for defense costs for asserted and unasserted claims. After consultation with litigation counsel and the review of the merit of each claim, we have concluded that we are unable to reasonably estimate the probability or the estimated range of reasonably possible losses related to material adverse judgments related to such claims and, therefore, we have not accrued for any such judgments. In the future, should we determine that a loss (or an additional loss in excess of our accrual) is at least reasonably possible and material, we would then disclose an estimate of the possible loss or range of loss, if such estimate could be made, or disclose that an estimate could not be made. We believe that we have provided adequate reserves for defense costs.

For the fiscal years ended April 30, 2015, 2014, and 2013, we paid $252,000, $1.0 million, and $758,000, respectively, in defense and administrative costs relative to product liability and municipal litigation. In addition, we spent an aggregate of $177,000, $460,000, and $42,000, respectively, in those fiscal years in settlement fees related to product liability cases.

We have recorded our liability for defense costs before consideration for reimbursement from insurance carriers. We have also recorded the amount due as reimbursement under existing policies from the insurance carriers as a receivable shown in other current assets and other assets.

In fiscal 2015, 2014, and 2013 we recorded expense of $183,000, $533,000, and $805,000 respectively, to recognize changes in our product liability and municipal litigation liability.

At this time, an estimated range of reasonably possible additional losses relating to unfavorable outcomes cannot be made.

Environmental Remediation

We are subject to numerous federal, state, and local laws that regulate both the health and safety of our workforce as well as our environmental liability, including, but not limited to, those regulations monitored by the Occupational Health and Safety Administration, (OSHA), the National Fire Protection Association, and the Department of Public Health. Though not exhaustive, examples of applicable regulations include confined space safety, walking and working surfaces, machine guarding, and life safety.

We are required to comply with regulations that mitigate any release into the environment. These laws have required, and are expected to continue to require, us to make significant expenditures of both a capital and expense nature. Several of the more significant federal laws applicable to our operations include the Clean Air Act, the Clean Water Act, the Comprehensive Environmental Response, Compensation and Liability Act, or CERCLA, and the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act.

We have in place programs and personnel to monitor compliance with various federal, state, and local environmental regulations. In the normal course of our manufacturing operations, we are subject to governmental proceedings and orders pertaining to waste disposal, air emissions, and water discharges into the environment. We fund our environmental costs through cash flows from operations. We believe that we are in compliance with applicable environmental regulations in all material respects.

We are required to remediate hazardous waste at our facilities. Currently, we own a designated site in Springfield, Massachusetts that contains two release areas, which are the focus of remediation projects as part of the Massachusetts Contingency Plan, or MCP. The MCP provides a structured environment for the voluntary remediation of regulated releases. We may be required to remove hazardous waste or remediate the alleged effects of hazardous substances on the environment associated with past disposal practices at sites not owned by us. We have received notice that we are a potentially responsible party from the Environmental Protection Agency and/or individual states under CERCLA or a state equivalent at two sites.

As of April 30, 2015 and 2014, respectively, we had recorded $675,000 and $623,000 of the environmental reserve in non-current liabilities. We have calculated the net present value of the environmental reserve to be equal to the carrying value of the liability recorded on our books. Our estimate of these costs is based upon currently enacted laws and regulations, currently available facts, experience in remediation efforts, existing technology, and the ability of other potentially responsible parties or contractually liable parties to pay the allocated portions of any environmental obligations.

When the available information is sufficient to estimate the amount of liability, that estimate has been used, when the information is only sufficient to establish a range of probable liability and no point within the range is more likely than any other, the lower end of the range has been used. We may not have insurance coverage for our environmental remediation costs. We have not recognized any gains from probable recoveries or other gain contingencies. The environmental reserve was calculated using undiscounted amounts based on independent environmental remediation reports obtained.

On May 5, 2014, we acquired substantially all of the net assets of TTPP. Under the asset purchase agreement, the former stockholder of TTPP indemnified us for losses arising from, among other things, environmental conditions related to its manufacturing activities. Of the purchase price, $3.0 million was placed in an escrow account, of which $2.8 million remains available. A portion of this escrow account will be applied to environmental remediation at the manufacturing site in Deep River, Connecticut. It is not presently possible to estimate the ultimate amount of all remediation costs and potential uses of the escrow. We believe the likelihood of environmental remediation costs exceeding the amount available in escrow to be remote.

Based on information known to us, we do not expect current environmental regulations or environmental proceedings and claims to have a material adverse effect on our consolidated financial position, results of operations, or cash flows. However, it is not possible to predict with certainty the impact on us of future environmental compliance requirements or of the cost of resolution of future environmental health and safety proceedings and claims, in part because the scope of the remedies that may be required is not certain, liability under federal environmental laws is joint and several in nature, and environmental laws and regulations are subject to modification and changes in interpretation. There can be no assurance that additional or changing environmental regulation will not become more burdensome in the future and that any such development would not have a material adverse effect on our company.

Contracts

Employment Agreements — We have employment, severance, and change of control agreements with certain officers and managers.

Other Agreements — We have distribution agreements with various third parties in the ordinary course of business.

In fiscal 2011, we were awarded a $6.0 million refundable tax credit from the Massachusetts Economic Assistance Coordinating Council under the Economic Development Incentive Program, or EDIP. This credit was granted by the Commonwealth of Massachusetts in consideration of our restructuring plan to move the production of our hunting products from New Hampshire to Massachusetts. Through the end of fiscal 2015, we recorded a total of $6.0 million in tax credits, including recording a receivable of $117,000 in fiscal 2015, because of our compliance with the written EDIP Investment Analysis Plan. We will be required to file an EDIP Annual Report through 2017 to demonstrate that all conditions related to the award have been met. We believe the likelihood that we will not comply with the EDIP Investment Analysis Plan to be remote.

Rental Leases

We lease office and/or manufacturing space in Scottsdale, Arizona; Rochester, New Hampshire; Deep River, Connecticut; and Columbia, Missouri under operating leases which expire on February 28, 2018; September 30, 2015; May 4, 2024; and April 30, 2023, respectively. We also lease machinery, photocopiers, and vehicles for our national sales force with various expiration dates.

As of April 30, 2015, the lease commitments were as follows (in thousands):

For the Year Ended April 30,	Amount

2016	$	2,446
2017		1,975
2018		1,919
2019		1,780
2020		1,764
Thereafter		5,910
	$	15,794

Rent expense in the fiscal years ended April 30, 2015, 2014, and 2013 was $3.3 million, $2.2 million, and $2.2 million, respectively.

Quarterly Financial Information

12 Months Ended

Apr. 30, 2015

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

18. Quarterly Financial Information (Unaudited)

The following table summarizes quarterly financial results in fiscal 2015 and 2014. In our opinion, all adjustments necessary to present fairly the information for such quarters have been reflected (in thousands, except per share data):

	For the Year Ended April 30, 2015
	First				Second				Third				Fourth				Full
	Quarter				Quarter				Quarter				Quarter				Year
Net sales	$		131,869		$		108,446		$		130,550		$		180,997		$		551,862
Gross profit			49,118				34,840				43,824				67,144				194,926
Income from continuing operations, net of tax			14,618				5,091				8,178				21,940				49,827
Loss from discontinued operations, net of tax			(62	)			(41	)			(57	)			(54	)			(214	)
Net income	$		14,556		$		5,050		$		8,121		$		21,886		$		49,613
Per common share
Basic - continuing operations	$		0.27		$		0.10		$		0.15		$		0.41		$		0.92
Diluted - continuing operations	$		0.26		$		0.09		$		0.15		$		0.40		$		0.90
Basic - total	$		0.27		$		0.09		$		0.15		$		0.41		$		0.92
Diluted - total	$		0.26		$		0.09		$		0.15		$		0.40		$		0.90
Market price (low-high)	$	12.32-17.28			$	9.03-13.43			$	9.22-12.68			$	12.16-15.30			$	9.03-17.28

	For the Year Ended April 30, 2014
	First				Second				Third			Fourth			Full
	Quarter				Quarter				Quarter			Quarter			Year
Net sales	$		171,020		$		139,294		$		145,881	$		170,425	$		626,620
Gross profit			72,773				57,937				58,651			69,744			259,105
Income from continuing operations, net of tax			26,526				17,145				20,057			24,899			88,627
Income/(loss) from discontinued operations, net of tax			(49	)			(158	)			728			157			678
Net income	$		26,477		$		16,987		$		20,785	$		25,056	$		89,305
Per common share
Basic - continuing operations	$		0.41		$		0.29		$		0.36	$		0.45	$		1.51
Diluted - continuing operations	$		0.40		$		0.28		$		0.35	$		0.44	$		1.47
Basic - total	$		0.41		$		0.28		$		0.37	$		0.45	$		1.52
Diluted - total	$		0.40		$		0.28		$		0.36	$		0.44	$		1.49
Market price (low-high)	$	8.53-11.96			$	10.25-13.38			$	10.76-15.56		$	11.31-15.70		$	8.53-15.70

Segment Reporting

12 Months Ended

Apr. 30, 2015

Segment Reporting [Abstract]

Segment Reporting

19. Segment Reporting

Subsequent to the BTI Acquisition, we began reporting our results of operations in two segments: firearms and accessories. The firearm segment has been determined to be a single operating segment and reporting segment based on management’s reliance on production metrics such as gross margin per unit produced, units produced per day, incoming orders per day, and revenue produced by trade channel, all of which are particular to the firearm segment. We evaluate our accessories products by a measurement of incoming orders per day, sales by customers, and gross margin by product line.

The firearm segment consists of products and services manufactured and sold from our Springfield, Massachusetts; Houlton, Maine; and Deep River, Connecticut facilities, which includes firearms, handcuffs, and other related products sold through a distribution chain and direct sales to consumers and international, state, and federal governments. The accessories segment consists of hunting and shooting accessories developed and marketed from our Columbia, Missouri facility. Operating costs are reported based on the activities performed within each segment.

Segment assets are those directly used in or clearly allocable to an operating segment’s operations. Total assets for our firearm segment as of April 30, 2015 were $345.3 million. Included in the assets of our firearm segment are intangible assets totaling $3.7 million; property, plant, and equipment totaling $131.3 million; and goodwill totaling $13.8 million. Total assets for our accessories segment as of April 30, 2015 were $149.7 million. Included in the assets of our accessories segment are intangible assets totaling $70.1 million; property, plant, and equipment totaling $2.5 million; and goodwill totaling $61.7 million.

Results by business segment are presented in the following table for the year ended April 30, 2015 (in thousands):

	For the Year Ended April 30, 2015
	Firearm		Accessories (a)				Total
Net sales	$	531,222	$	20,640			$	551,862
Cost of sales		342,663		14,273		(b)		356,936
Gross margin		188,559		6,367				194,926
Operating income/(loss)		92,532		(2,904	)	(b)		89,628
Income tax expense/(benefit)		30,038		(1,133	)			28,905

_________________

(a) Results of operations for the year ended April 30, 2015 include activity for the period subsequent to the BTI Acquisition. We operated under one segment in the prior year, thus no comparative segment information is being presented. Due to the timing of the BTI Acquisition, the segment data above includes all corporate overhead expenses in our firearm segment until we determine our allocation methodology for corporate overhead expenses.

(b) Amount includes $4.2 million of additional cost of sales from the fair value step-up in inventory at the date of the BTI Acquisition and $3.6 million related to amortization of intangible assets recorded in general and administrative expenses as a result of the BTI Acquisition.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Apr. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	20. Subsequent Events As discussed in Note 5, on June 15, 2015, we entered into a new unsecured credit facility, which consists of a $175.0 million revolving line of credit and a $105.0 million term loan, which both mature on June 15, 2020. We used the proceeds from the term loan to redeem the entire $100.0 million outstanding principal balance of our 5.875% Senior Notes, plus accrued and unpaid interest to the redemption date.

Schedule II-Valuation and Qualifying Accounts

12 Months Ended

Apr. 30, 2015

Valuation And Qualifying Accounts [Abstract]

Schedule II-Valuation and Qualifying Accounts

SCHEDULE II

SMITH & WESSON HOLDING CORPORATION AND SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTS

For the Years Ended April 30, 2015, 2014, and 2013

			Additions
			Charged to			Charged to
	Balance at		Costs and			Other								Balance at
	May 1,		Expenses			Accounts				Deductions				April 30,
2015
Allowance for doubtful accounts	$	844	$	(122	)	$		127	(1)	$		(127	)	$	722
Inventory reserve		12,383		4,493				702	(1)			(1,139	)		16,439
Deferred tax valuation allowance		2,418		203			—				—				2,621
2014
Allowance for doubtful accounts	$	1,128	$	(214	)	$	—			$		(70	)	$	844
Inventory reserve		9,121		4,102			—					(840	)		12,383
Deferred tax valuation allowance		2,458		(40	)		—				—				2,418
2013
Allowance for doubtful accounts	$	1,058	$	720		$	—			$		(650	)	$	1,128
Inventory reserve		6,965		2,603			—					(447	)		9,121
Deferred tax valuation allowance		2,127		331			—				—				2,458

(1) Increase in 2015 valuation accounts represents acquired balances related to the DRP and BTI Acquisitions in fiscal 2015.

Significant Accounting Policies (Policies)

12 Months Ended

Apr. 30, 2015

Accounting Policies [Abstract]

Use of Estimates

Principles of Consolidation

Fair Value of Financial Instruments

Cash and Cash Equivalents

Trade Receivables

Concentrations of Credit Risk

Inventories

Property, Plant, and Equipment

Description	Useful Life
Building and improvements		10 to 40 years
Software and hardware		3 to 7 years
Machinery and equipment		2 to 10 years

We include tooling, dies, and fixtures as part of machinery and equipment and depreciate them over a period not exceeding five years.

Intangible Assets

Revenue Recognition

Segment Information

Research and Development

Earnings/(Loss) per Share

	For the Year Ended April 30,
	2015			2014		2013
Net income/(loss)
Income from continuing operations	$	49,827		$	88,627	$	81,406
(Loss)/income from discontinued operations		(214	)		678		(2,693	)
Net income	$	49,613		$	89,305	$	78,713
Weighted average shares outstanding - Basic		53,988			58,668		65,155
Dilutive effect of stock option and award plans		1,240			1,446		1,487
Diluted shares outstanding		55,228			60,114		66,642
Earnings per share - Basic
Income from continuing operations	$	0.92		$	1.51	$	1.25
(Loss)/income from discontinued operations	$	(0.00	)	$	0.01	$	(0.04	)
Net income	$	0.92		$	1.52	$	1.21
Earnings per share - Diluted
Income from continuing operations	$	0.90		$	1.47	$	1.22
(Loss)/income from discontinued operations	$	(0.00	)	$	0.01	$	(0.04	)
Net income	$	0.90		$	1.49	$	1.18

Valuation of Long-lived Tangible and Intangible Assets

·	significant underperformance relative to historical or projected future operating results;

·	significant changes in the manner or use of the assets or the strategy for our overall business;

·	significant negative industry or economic trends;

·	a significant decline in our stock price for a sustained period; and

·	a decline in our market capitalization below net book value.

Income Taxes

Warranty

The following table sets forth the change in accrued warranties, a portion of which is recorded as a non-current liability, in the fiscal years ended April 30, 2015, 2014, and 2013 (in thousands):

		April 30, 2015			April 30, 2014			April 30, 2013
Beginning Balance		$	7,565		$	8,423		$	6,412
	Warranties issued and adjustments to provisions		4,292			3,620			7,093
	Warranty claims		(3,204	)		(4,478	)		(5,082	)
Ending Balance		$	8,653		$	7,565		$	8,423

Sales and Promotional Related Expenses

Shipping and Handling

Insurance Reserves

Recently Issued Accounting Standards

Fair Value Measurements and Disclosures Topic

Financial assets and liabilities recorded on the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:

·	quoted prices for identical or similar assets or liabilities in non-active markets (such as corporate and municipal bonds which trade infrequently);

·	inputs other than quoted prices that are observable for substantially the full term of the asset or liability (examples include interest rate and currency swaps); and

·	inputs that are derived principally from or corroborated by observable market data for substantially the full term of the asset or liability (such as certain securities and derivatives).

We currently do not have any Level 2 financial assets or liabilities other than our 5.875% Senior Notes and 5.000% Senior Notes as referenced in Note 5.

We currently do not have any Level 3 financial assets or liabilities.

Acquisitions (Tables)

12 Months Ended

Apr. 30, 2015

DRP Acquisition

Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date, as well as measurement period adjustments (in thousands):

	May 5, 2014		Measurement
	(As Initially		Period			May 5, 2014
	Reported)		Adjustments			(As Adjusted)
Accounts receivable	$	2,614	$	5		$	2,619
Inventories		2,430		460			2,890
Total current assets		5,044		465			5,509
Property, plant, and equipment		4,243		155			4,398
Goodwill		15,183		(1,413	)		13,770
Intangibles assets:
Customer relationships	—			840			840
Order backlog	—			150			150
Other assets		8	—				8
Total assets acquired		24,478		197			24,675
Accounts payable		358		12			370
Accrued expenses		25		114			139
Accrued payroll	—			361			361
Total liabilities assumed		383		487			870
	$	24,095	$	(290	)	$	23,805

Identifiable Intangible Assets Acquired and Respective Weighted Average Lives

The following are the identifiable intangible assets acquired (in thousands) and their respective weighted average lives:

			Weighted Average
			Life
	Amount		(In years)
Customer relationships	$	840		3.3
Order backlog		150		1.0
	$	990

BTI Acquisition

Estimated Fair Values of Assets Acquired and Liabilities Assumed

	December 11, 2014		Measurement
	(As Initially		Period				December 11, 2014
	Reported)		Adjustments				(As Adjusted)

Cash	$	24	$	—			$	24
Accounts receivable		7,873			3			7,876
Inventories		12,819			107			12,926
Income tax receivable		393			(279	)		114
Other current assets		563		—				563
Property, plant, and equipment		2,826			(318	)		2,508
Intangibles		73,550		—				73,550
Goodwill		62,142			(486	)		61,656
Total assets acquired		160,190			(973	)		159,217
Accounts payable		1,647			2			1,649
Accrued expenses		326			1			327
Accrued payroll		904		—				904
Accrued taxes other than income		9		—				9
Deferred income taxes		21,128			(261	)		20,867
Total liabilities assumed		24,014			(258	)		23,756
	$	136,176	$		(715	)	$	135,461

Identifiable Intangible Assets Acquired and Respective Weighted Average Lives

The following are the identifiable intangible assets acquired (in thousands) and their respective weighted average lives:

			Weighted Average
			Life
	Amount		(In years)
Developed technology	$	16,630		4.2
Customer relationships		25,680		4.4
Trade names		31,140		5.3
Order backlog		100		0.3
	$	73,550

Unaudited Pro Forma Results of Operations

Additionally, the following table reflects the unaudited pro forma results of operations assuming that the BTI Acquisition had occurred on May 1, 2013 (in thousands, except per share data):

	For the Year			For the Year
	Ended			Ended
	April 30, 2015			April 30, 2014
Net sales	$	582,875	$		670,163
Income from continuing operations		53,388			85,460
Income per share - diluted		0.97			1.42

Significant Accounting Policies (Tables)

12 Months Ended

Apr. 30, 2015

Accounting Policies [Abstract]

Summary of Estimated Useful Lives

A summary of the estimated useful lives is as follows:

Description	Useful Life
Building and improvements		10 to 40 years
Software and hardware		3 to 7 years
Machinery and equipment		2 to 10 years

Reconciliation of Net Income (Loss) Amounts and Weighted Average Number of Common and Common Equivalent Shares Used to Determine Basic and Diluted Earnings (Loss) per Common Share

	For the Year Ended April 30,
	2015			2014		2013
Net income/(loss)
Income from continuing operations	$	49,827		$	88,627	$	81,406
(Loss)/income from discontinued operations		(214	)		678		(2,693	)
Net income	$	49,613		$	89,305	$	78,713
Weighted average shares outstanding - Basic		53,988			58,668		65,155
Dilutive effect of stock option and award plans		1,240			1,446		1,487
Diluted shares outstanding		55,228			60,114		66,642
Earnings per share - Basic
Income from continuing operations	$	0.92		$	1.51	$	1.25
(Loss)/income from discontinued operations	$	(0.00	)	$	0.01	$	(0.04	)
Net income	$	0.92		$	1.52	$	1.21
Earnings per share - Diluted
Income from continuing operations	$	0.90		$	1.47	$	1.22
(Loss)/income from discontinued operations	$	(0.00	)	$	0.01	$	(0.04	)
Net income	$	0.90		$	1.49	$	1.18

Change in Accrued Warranties Recorded as Non-Current Liability

The following table sets forth the change in accrued warranties, a portion of which is recorded as a non-current liability, in the fiscal years ended April 30, 2015, 2014, and 2013 (in thousands):

		April 30, 2015			April 30, 2014			April 30, 2013
Beginning Balance		$	7,565		$	8,423		$	6,412
	Warranties issued and adjustments to provisions		4,292			3,620			7,093
	Warranty claims		(3,204	)		(4,478	)		(5,082	)
Ending Balance		$	8,653		$	7,565		$	8,423

Net Sales (Tables)

12 Months Ended

Apr. 30, 2015

Accounting Policies [Abstract]

Breakdown of Net Sales

The following table sets forth the breakdown of net sales for the fiscal years ended April 30, 2015, 2014, and 2013, respectively (in thousands):

	For the Year Ended April 30,
	2015		2014			2013
Handguns	$	395,500	$		422,992	$		324,627
Long Guns		90,178			155,311			179,187
Walther		506			5,651			41,646
Other Products & Services		45,038			42,666			42,054
Firearm Division		531,222			626,620			587,514
Accessories Division		20,640		—			—
Total Net Sales	$	551,862	$		626,620	$		587,514

Breakdown of Export Sales

	For the Year Ended April 30,
Region	2015		2014		2013

Europe	$	8,164	$	6,279	$	2,979
Asia		1,463		1,766		6,319
Latin America		1,643		200		1,693
All others international		11,570		9,605		8,003

Total net international sales	$	22,840	$	17,850	$	18,994

Property, Plant, and Equipment (Tables)

12 Months Ended

Apr. 30, 2015

Property Plant And Equipment [Abstract]

Property, Plant, and Equipment

The following table summarizes property, plant, and equipment as of April 30, 2015 and 2014 (in thousands):

	April 30, 2015			April 30, 2014

Machinery and equipment	$	191,480		$	156,030
Software and hardware		30,945			27,331
Building and improvements		19,946			12,187
Land and improvements		3,214			2,150

		245,585			197,698
Less: Accumulated depreciation and amortization		(116,663	)		(93,138	)

		128,922			104,560
Construction in progress		4,922			15,880

Total property, plant, and equipment, net	$	133,844		$	120,440

Summary of Depreciation and Amortization Expense for Continuing Operations

	For the Year Ended April 30,
	2015		2014		2013
Cost of products and services sold	$	20,640	$	16,505	$	14,238
Research and development		403		325		116
Selling and marketing		255		207		247
General and administrative		8,134		2,720		1,449
Interest expense		1,461		1,947		680
Total depreciation and amortization	$	30,893	$	21,704	$	16,730

Inventories (Tables)

12 Months Ended

Apr. 30, 2015

Inventory Disclosure [Abstract]

Summary of Inventories

The following table sets forth a summary of inventories, net of reserves, stated at lower of cost or market, as of April 30, 2015 and 2014 (in thousands):

	April 30, 2015		April 30, 2014
Finished goods	$	28,240	$	26,523
Finished parts		34,269		47,109
Work in process		7,492		7,643
Raw material		6,894		5,467
Total inventories	$	76,895	$	86,742

Intangible Assets (Tables)

12 Months Ended

Apr. 30, 2015

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of intangible assets

The following table presents a summary of intangible assets for the year ended April 30, 2015 and 2014 (in thousands):

				Weighted Average						Weighted Average
				Life						Life
	April 30, 2015 (a)			(in years)		April 30, 2014				(in years)
Developed technology	$	16,630			5.2	$	—			—
Customer relationships		28,260			6.1			1,740			9.1
Patents, trademarks, and tradenames		36,378			5.3			4,986			5.5
		81,268						6,726
Less: Accumulated amortization		(7,950	)					(3,603	)
		73,318						3,123
Patents in progress		450						302
Total intangible assets, net	$	73,768				$		3,425

(a) The primary increase in intangible assets over the prior year is as a result of the BTI Acquisition.

Schedule of future expected amortization expense

		Expected
For the Year Ended April 30,		Amortization
2016	$		11,341
2017			10,552
2018			9,798
2019			8,606
2020			7,448
Thereafter			25,573
Total expected amortization	$		73,318

Accrued Expenses (Tables)

12 Months Ended

Apr. 30, 2015

Payables And Accruals [Abstract]

Summary of Accrued Expenses

The following table sets forth other accrued expenses as of April 30, 2015 and 2014 (in thousands):

	April 30, 2015		April 30, 2014
Accrued rebates and promotions	$	4,126	$	2,633
Interest payable		3,362		2,194
Accrued employee benefits		3,065		2,148
Accrued professional fees		2,335		2,374
Accrued workers' compensation		833		916
Accrued distributor incentives		761		590
Accrued other		4,539		6,252
Total accrued expenses	$	19,021	$	17,107

Self-Insurance Reserves (Tables)

12 Months Ended

Apr. 30, 2015

Commitments And Contingencies Disclosure [Abstract]

Summary of Other Liabilities

	For the Year Ended April 30,
	2015			2014			2013

Beginning balance	$	9,185		$	9,570		$	8,980
Additional provision charged to expense		12,925			10,721			12,201
Payments		(12,500	)		(11,106	)		(11,611	)

Ending balance	$	9,610		$	9,185		$	9,570

Stockholders' Equity (Tables)

12 Months Ended

Apr. 30, 2015

Equity [Abstract]

Share Based Compensation Stock Options Activity

The number of shares and weighted average exercise prices of options for the fiscal years ended April 30, 2015, 2014, and 2013 are as follows:

	For the Year Ended April 30,
	2015					2014					2013
				Weighted-					Weighted-					Weighted-
				Average					Average					Average
	Shares			Exercise Price		Shares			Exercise Price		Shares				Exercise Price
Options outstanding, beginning of year		2,258,349		$	6.15		3,019,127		$	5.31		3,988,164		$		4.67
Granted during the period	—			—		—			—			3,500				11.02
Exercised during the period		(365,719	)		4.96		(732,778	)		2.73		(847,042	)			4.10
Canceled/forfeited during period		(13,000	)		7.98		(28,000	)		5.59		(125,495	)			3.87
Options outstanding, end of period		1,879,630		$	6.37		2,258,349		$	6.15		3,019,127		$		5.31
Weighted average remaining contractual life	5.02 years					6.04 years					6.02 years
Options exercisable, end of period		1,878,464		$	6.36		1,873,494		$	6.29		2,087,675		$		5.38
Weighted average remaining contractual life	5.02 years					5.75 years					5.00 years

Schedule of Assumptions used in Valuing Options and ESPP Purchases

The following assumptions were used in valuing our options and ESPP purchases during the years ended April 30, 2015, 2014, and 2013:

	For the Year Ended April 30,
	2015	2014		2013
Stock option grants:
Risk-free interest rate	—	—	0		0.31	%
Expected term	—	—		5.84 - 7.84 years
Expected volatility	—	—			70.0	%
Dividend yield	—	—			0	%
Employee Stock Purchase Plan:
Risk-free interest rate	0.07%	0.08%			0.13	%
Expected term	6 months	6 months		6 months
Expected volatility	38.2%	41.9%			56.3	%
Dividend yield	0%	0%			0	%

Summary of Stock Compensation Expense for Continuing Operations

The following table summarizes stock compensation expense for continuing operations by line item for the fiscal years ended April 30, 2015, 2014, and 2013 (in thousands):

	For the Year Ended April 30,
		2015		2014		2013
Cost of sales	$	520	$	332	$	331
Research and development		139		74		39
Selling and marketing		379		225		92
General and administrative		4,770		7,581		3,611
Total stock-based compensation	$	5,808	$	8,212	$	4,073

Share Based Payment Award Performance Shares Valuation Assumptions

We incorporate the following variables into the valuation model:

		For the Year Ended April 30,
			2015			2014				2013
Grant date fair market value
Smith & Wesson Holding Corporation	$		14.90		$		15.21		$	8.71
Russell 2000 Index	$		1,246.95		$		1,120.83		$		935.25
Volatility (a)
Smith & Wesson Holding Corporation			44.51	%			49.85	%			49.28	%
Russell 2000 Index			15.76	%			23.07	%			25.72	%
Correlation coefficient (b)			0.32				0.46			0.47
Risk-free interest rate (c)			0.91	%			0.91	%			0.32	%
Dividend yield (d)			0	%			0	%			0	%

(a)	Expected volatility is calculated over the most recent period that represents the remaining term of the performance period as of the valuation date, or three years.

(b)	The correlation coefficient utilizes the same historical price data used to develop the volatility assumptions.

(c)	The risk-free interest rate is based on the yield of a zero-coupon U.S. Treasury bill, commensurate with the three-year performance period.

(d)	We do not expect to pay dividends in the foreseeable future.

Summary of Activity in Unvested RSUs and PSUs

A summary of activity in unvested RSUs and PSUs for fiscal years 2015, 2014 and 2013 is as follows:

	For the Year Ended April 30,
	2015					2014					2013
				Weighted					Weighted					Weighted
	Total # of			Average		Total # of			Average		Total # of			Average
	Restricted			Grant Date		Restricted			Grant Date		Restricted			Grant Date
	Stock Units			Fair Value		Stock Units			Fair Value		Stock Units			Fair Value
RSUs and PSUs outstanding, beginning of year		1,015,475		$	10.56		781,586		$	8.42		384,140		$	7.91
Awarded		709,672			11.82		718,056			11.87		535,329			9.43
Vested		(433,266	)		9.18		(457,851	)		8.75		(83,887	)		8.71
Forfeited		(101,002	)		11.93		(26,316	)		8.88		(53,996	)		6.14
RSUs and PSUs outstanding, end of year		1,190,879		$	12.45		1,015,475		$	10.56		781,586		$	8.42

Income Taxes (Tables)

12 Months Ended

Apr. 30, 2015

Income Tax Disclosure [Abstract]

Income Tax Expense from Continuing Operations

Income tax expense from continuing operations consists of the following (in thousands):

	For the Year Ended April 30,
	2015			2014			2013
Current:
Federal	$	22,471		$	43,470		$	38,661
State		4,188			6,167			5,982
Total current		26,659			49,637			44,643
Deferred:
Deferred federal		2,274			(1,352	)		1,508
Deferred state		(28	)		(190	)		349
Total deferred		2,246			(1,542	)		1,857
Total income tax expense	$	28,905		$	48,095		$	46,500

Reconciliation of Provision for Income Taxes from Continuing Operations

The following table presents a reconciliation of the provision for income taxes from continuing operations at statutory rates to the provision in the consolidated financial statements (in thousands):

	For the Year Ended April 30,
	2015				2014			2013
Federal income taxes expected at 35% statutory rate	$		27,556		$	47,853		$	44,767
State income taxes, less federal income tax benefit			3,015			4,535			4,576
Employee Stock Purchase Plan			82			77			131
Business meals and entertainment			205			187			107
Domestic production activity deduction			(2,462	)		(4,325	)		(3,708	)
Research and development tax credit			(100	)		(100	)		(140	)
Change in uncertain tax positions		—				(265	)		237
Other			609			133			530
Total income tax expense	$		28,905		$	48,095		$	46,500

Deferred Tax Assets (Deferred Tax Liabilities) Related to Temporary Differences

Deferred tax assets (deferred tax liabilities) related to temporary differences are the following (in thousands):

	For the Years Ended April 30,
	2015				2014
Current tax assets (liabilities):	$				$
Inventories			9,587			8,088
Product liability			276			391
Accrued expenses, including compensation			2,934			5,991
Warranty reserve			2,449			2,114
Property taxes			(122	)		(78	)
Promotions			1,497			925
Less valuation allowance			(510	)		(508	)
Other			262			171
Net deferred tax asset — current	$		16,373		$	17,094

Non-current tax assets (liabilities):
Net operating loss carryforwards and tax credits	$		2,809		$	2,633
Environmental reserves			258			238
Product liability			461			371
Workers' compensation			991			975
Warranty reserve			860			785
Stock-based compensation			4,429			4,280
State bonus depreciation			1,002			828
Property, plant, and equipment			(25,612	)		(19,947	)
Intangible assets			(17,083	)		224
Transaction costs		—				57
Pension			91			48
Less valuation allowance			(2,111	)		(1,910	)
Net deferred tax liability — non-current	$		(33,905	)	$	(11,418	)
Net deferred tax asset/(liability) — total	$		(17,532	)	$	5,676

Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

	April 30,
	2015			2014
Beginning balance	$		84	$	1,091
Interest, penalties, and impact of state deductions on federal taxes			7		(212	)
Lapse of statute of limitations		—			(795	)
Ending balance	$		91	$	84

Commitments and Contingencies (Tables)

12 Months Ended

Apr. 30, 2015

Commitments And Contingencies Disclosure [Abstract]

Lease Commitments

As of April 30, 2015, the lease commitments were as follows (in thousands):

For the Year Ended April 30,	Amount

2016	$	2,446
2017		1,975
2018		1,919
2019		1,780
2020		1,764
Thereafter		5,910
	$	15,794

Quarterly Financial Information (Tables)

12 Months Ended

Apr. 30, 2015

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

	For the Year Ended April 30, 2015
	First				Second				Third				Fourth				Full
	Quarter				Quarter				Quarter				Quarter				Year
Net sales	$		131,869		$		108,446		$		130,550		$		180,997		$		551,862
Gross profit			49,118				34,840				43,824				67,144				194,926
Income from continuing operations, net of tax			14,618				5,091				8,178				21,940				49,827
Loss from discontinued operations, net of tax			(62	)			(41	)			(57	)			(54	)			(214	)
Net income	$		14,556		$		5,050		$		8,121		$		21,886		$		49,613
Per common share
Basic - continuing operations	$		0.27		$		0.10		$		0.15		$		0.41		$		0.92
Diluted - continuing operations	$		0.26		$		0.09		$		0.15		$		0.40		$		0.90
Basic - total	$		0.27		$		0.09		$		0.15		$		0.41		$		0.92
Diluted - total	$		0.26		$		0.09		$		0.15		$		0.40		$		0.90
Market price (low-high)	$	12.32-17.28			$	9.03-13.43			$	9.22-12.68			$	12.16-15.30			$	9.03-17.28

	For the Year Ended April 30, 2014
	First				Second				Third			Fourth			Full
	Quarter				Quarter				Quarter			Quarter			Year
Net sales	$		171,020		$		139,294		$		145,881	$		170,425	$		626,620
Gross profit			72,773				57,937				58,651			69,744			259,105
Income from continuing operations, net of tax			26,526				17,145				20,057			24,899			88,627
Income/(loss) from discontinued operations, net of tax			(49	)			(158	)			728			157			678
Net income	$		26,477		$		16,987		$		20,785	$		25,056	$		89,305
Per common share
Basic - continuing operations	$		0.41		$		0.29		$		0.36	$		0.45	$		1.51
Diluted - continuing operations	$		0.40		$		0.28		$		0.35	$		0.44	$		1.47
Basic - total	$		0.41		$		0.28		$		0.37	$		0.45	$		1.52
Diluted - total	$		0.40		$		0.28		$		0.36	$		0.44	$		1.49
Market price (low-high)	$	8.53-11.96			$	10.25-13.38			$	10.76-15.56		$	11.31-15.70		$	8.53-15.70

Segment Reporting (Tables)

12 Months Ended

Apr. 30, 2015

Segment Reporting [Abstract]

Schedule of Results by Business Segment

Results by business segment are presented in the following table for the year ended April 30, 2015 (in thousands):

	For the Year Ended April 30, 2015
	Firearm		Accessories (a)				Total
Net sales	$	531,222	$	20,640			$	551,862
Cost of sales		342,663		14,273		(b)		356,936
Gross margin		188,559		6,367				194,926
Operating income/(loss)		92,532		(2,904	)	(b)		89,628
Income tax expense/(benefit)		30,038		(1,133	)			28,905

_________________

Organization - Additional Information (Detail)	12 Months Ended
Organization - Additional Information (Detail)	Apr. 30, 2015
BTI Acquisition
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Business acquisition agreement date	Dec. 11, 2014

Acquisitions - Additional Information (Detail) - USD ($)				12 Months Ended
	Jan. 09, 2015	Dec. 11, 2014	May 05, 2014	Apr. 30, 2015	Apr. 30, 2014	Nov. 25, 2014
Business Acquisition [Line Items]
Goodwill deductible for tax purpose				$ 12,000,000
DRP Acquisition
Business Acquisition [Line Items]
Payments to acquire business, excluding working capital adjustment			$ 22,800,000
Working capital adjustment			1,000,000
Payments to acquire business, net of cash acquired			$ 23,800,000
Business combination, acquisition-related costs				$ 440,000	$ 471,000
Goodwill amortization period for tax purpose				15 years
BTI Acquisition
Business Acquisition [Line Items]
Payments to acquire business, excluding working capital adjustment		$ 130,500,000
Working capital adjustment		3,100,000
Payments to acquire business, net of cash acquired				$ 135,437,000
Business combination, acquisition-related costs				$ 1,700,000
Acquisition payment made through line of credit		100,000,000
BTI Acquisition \| Amended Unsecured Revolving Credit Facility
Business Acquisition [Line Items]
Acquisition payment made through line of credit						$ 125,000,000
B T I Acquisition Excluding Hooyman Llc
Business Acquisition [Line Items]
Payments to acquire business, net of cash acquired		$ 133,600,000
Hooyman LLC
Business Acquisition [Line Items]
Payments to acquire business, net of cash acquired	$ 1,900,000

Acquisitions - Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Apr. 30, 2015	May 05, 2014
Business Acquisition [Line Items]
Goodwill	$ 75,426
DRP Acquisition
Business Acquisition [Line Items]
Accounts receivable		$ 2,619
Inventories		2,890
Total current assets		5,509
Property, plant, and equipment		4,398
Goodwill	$ 13,800	13,770
Intangibles assets:
Other assets		8
Total assets acquired		24,675
Accounts payable		370
Total liabilities assumed		870
Net assets acquired		23,805
DRP Acquisition \| Customer relationships
Intangibles assets:
Other non current assets		840
DRP Acquisition \| Order Backlog
Intangibles assets:
Other non current assets		150
DRP Acquisition \| As Initially Reported
Business Acquisition [Line Items]
Accounts receivable		2,614
Inventories		2,430
Total current assets		5,044
Property, plant, and equipment		4,243
Goodwill		15,183
Intangibles assets:
Other assets		8
Total assets acquired		24,478
Accounts payable		358
Total liabilities assumed		383
Net assets acquired		24,095
DRP Acquisition \| Measurement Period Adjustments
Business Acquisition [Line Items]
Accounts receivable		5
Inventories		460
Total current assets		465
Property, plant, and equipment		155
Goodwill		(1,413)
Intangibles assets:
Total assets acquired		197
Accounts payable		12
Total liabilities assumed		487
Net assets acquired		(290)
DRP Acquisition \| Measurement Period Adjustments \| Customer relationships
Intangibles assets:
Other non current assets		840
DRP Acquisition \| Measurement Period Adjustments \| Order Backlog
Intangibles assets:
Other non current assets		150
DRP Acquisition \| Accrued Expense
Intangibles assets:
Accrued expenses and payroll		139
DRP Acquisition \| Accrued Expense \| As Initially Reported
Intangibles assets:
Accrued expenses and payroll		25
DRP Acquisition \| Accrued Expense \| Measurement Period Adjustments
Intangibles assets:
Accrued expenses and payroll		114
DRP Acquisition \| Accrued Payroll
Intangibles assets:
Accrued expenses and payroll		361
DRP Acquisition \| Accrued Payroll \| Measurement Period Adjustments
Intangibles assets:
Accrued expenses and payroll		$ 361

Acquisitions - Identifiable Intangible Assets Acquired and Respective Weighted Average Lives (Detail) - USD ($)
$ in Thousands

12 Months Ended

Apr. 30, 2015

Apr. 30, 2014

Acquired Finite Lived Intangible Assets [Line Items]

Total intangible assets, gross

$ 81,268

^[1]

$ 6,726

Developed technology

Acquired Finite Lived Intangible Assets [Line Items]

Total intangible assets, gross

^[1]

$ 16,630

Weighted average life

5 years 2 months 12 days

0 years

Customer relationships

Acquired Finite Lived Intangible Assets [Line Items]

Total intangible assets, gross

$ 28,260

^[1]

$ 1,740

Weighted average life

6 years 1 month 6 days

9 years 1 month 6 days

DRP Acquisition

Acquired Finite Lived Intangible Assets [Line Items]

Total intangible assets, gross

$ 990

DRP Acquisition | Customer relationships

Acquired Finite Lived Intangible Assets [Line Items]

Total intangible assets, gross

$ 840

Weighted average life

3 years 3 months 18 days

DRP Acquisition | Order Backlog

Acquired Finite Lived Intangible Assets [Line Items]

Total intangible assets, gross

$ 150

Weighted average life

1 year

BTI Acquisition

Acquired Finite Lived Intangible Assets [Line Items]

Total intangible assets, gross

$ 73,550

BTI Acquisition | Developed technology

Acquired Finite Lived Intangible Assets [Line Items]

Total intangible assets, gross

$ 16,630

Weighted average life

4 years 2 months 12 days

BTI Acquisition | Customer relationships

Acquired Finite Lived Intangible Assets [Line Items]

Total intangible assets, gross

$ 25,680

Weighted average life

4 years 4 months 24 days

BTI Acquisition | Trade names

Acquired Finite Lived Intangible Assets [Line Items]

Total intangible assets, gross

$ 31,140

Weighted average life

5 years 3 months 18 days

BTI Acquisition | Order Backlog

Acquired Finite Lived Intangible Assets [Line Items]

Total intangible assets, gross

$ 100

Weighted average life

3 months 18 days

[1]	The primary increase in intangible assets over the prior year is as a result of the BTI Acquisition.

Acquisitions - Summary of Business Acquisitions Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Apr. 30, 2015	Dec. 11, 2014
Business Acquisition [Line Items]
Goodwill	$ 75,426
BTI Acquisition
Business Acquisition [Line Items]
Cash		$ 24
Accounts receivable		7,876
Inventories		12,926
Income tax receivable		114
Other current assets		563
Property, plant, and equipment		2,508
Intangibles		73,550
Goodwill	$ 61,600	61,656
Total assets acquired		159,217
Accounts payable		1,649
Accrued expenses		327
Accrued payroll		904
Accrued taxes other than income		9
Deferred income taxes		20,867
Total liabilities assumed		23,756
Net assets acquired		135,461
BTI Acquisition \| As Initially Reported
Business Acquisition [Line Items]
Cash		24
Accounts receivable		7,873
Inventories		12,819
Income tax receivable		393
Other current assets		563
Property, plant, and equipment		2,826
Intangibles		73,550
Goodwill		62,142
Total assets acquired		160,190
Accounts payable		1,647
Accrued expenses		326
Accrued payroll		904
Accrued taxes other than income		9
Deferred income taxes		21,128
Total liabilities assumed		24,014
Net assets acquired		136,176
BTI Acquisition \| Measurement Period Adjustments
Business Acquisition [Line Items]
Accounts receivable		3
Inventories		107
Income tax receivable		(279)
Property, plant, and equipment		(318)
Goodwill		(486)
Total assets acquired		(973)
Accounts payable		2
Accrued expenses		1
Deferred income taxes		(261)
Total liabilities assumed		(258)
Net assets acquired		$ (715)

Acquisitions - Unaudited Pro Forma Results of Operations (Detail) - BTI Acquisition - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014
Business Acquisition [Line Items]
Net sales	$ 582,875	$ 670,163
Income from continuing operations	$ 53,388	$ 85,460
Income per share - diluted	$ 0.97	$ 1.42

Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Apr. 30, 2015 USD ($) Segment Facility shares	Apr. 30, 2014 USD ($) shares	Apr. 30, 2013 USD ($) shares	Dec. 11, 2014 USD ($)	May 05, 2014 USD ($)
Product Information [Line Items]
Accounts exceeded by Federal insured limits	$ 42,600,000
Maximum maturity period of all highly liquid investments to be considered cash equivalents	3 months
Number of reportable segments \| Segment	2
Number of reporting units \| Facility	2
Goodwill	$ 75,426,000
Asset impairment charges	0	$ 0	$ 0
Recall cost and safety alert costs	5,500,000
Remaining cost related to recall and safety alert costs	3,200,000
Warranty expense	4,300,000	3,600,000	7,100,000
Customer promotional program costs	6,900,000	1,600,000	5,100,000
Selling and marketing expenses	2,800,000	$ 1,900,000	$ 1,500,000
Self Insurance
Product Information [Line Items]
Maximum amount of self-insurance per occurrence	3,000,000
DRP Acquisition
Product Information [Line Items]
Goodwill	13,800,000				$ 13,770,000
BTI Acquisition
Product Information [Line Items]
Goodwill	$ 61,600,000			$ 61,656,000
2011 ESPP
Product Information [Line Items]
Number of common stock issuable with antidilutive effect \| shares	73,546	77,622	246,635
Other Capitalized Property Plant and Equipment \| Maximum
Product Information [Line Items]
Estimated useful life	5 years
Customer One
Product Information [Line Items]
Accounts receivable		$ 11,700,000
Customer One \| Sales, net
Product Information [Line Items]
Concentration of risk, percentage	13.40%	11.60%
Customer One \| Accounts Receivable
Product Information [Line Items]
Concentration of risk, percentage		20.10%

Summary of Estimated Useful Lives (Detail)	12 Months Ended
Summary of Estimated Useful Lives (Detail)	Apr. 30, 2015
Building and improvements \| Minimum
Property Plant And Equipment [Line Items]
Estimated useful life	10 years
Building and improvements \| Maximum
Property Plant And Equipment [Line Items]
Estimated useful life	40 years
Software and hardware \| Minimum
Property Plant And Equipment [Line Items]
Estimated useful life	3 years
Software and hardware \| Maximum
Property Plant And Equipment [Line Items]
Estimated useful life	7 years
Machinery and equipment \| Minimum
Property Plant And Equipment [Line Items]
Estimated useful life	2 years
Machinery and equipment \| Maximum
Property Plant And Equipment [Line Items]
Estimated useful life	10 years

Reconciliation of Net Income (Loss) Amounts and Weighted Average Number of Common and Common Equivalent Shares Used to Determine Basic and Diluted Earnings (Loss) per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Apr. 30, 2015	Jan. 31, 2015	Oct. 31, 2014	Jul. 31, 2014	Apr. 30, 2014	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2013	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Net income/(loss)
Income from continuing operations	$ 21,940	$ 8,178	$ 5,091	$ 14,618	$ 24,899	$ 20,057	$ 17,145	$ 26,526	$ 49,827	$ 88,627	$ 81,406
(Loss)/income from discontinued operations	(54)	(57)	(41)	(62)	157	728	(158)	(49)	(214)	678	(2,693)
Net income	$ 21,886	$ 8,121	$ 5,050	$ 14,556	$ 25,056	$ 20,785	$ 16,987	$ 26,477	$ 49,613	$ 89,305	$ 78,713
Weighted average shares outstanding - Basic									53,988	58,668	65,155
Dilutive effect of stock option and award plans									1,240	1,446	1,487
Diluted shares outstanding									55,228	60,114	66,642
Earnings per share - Basic
Income from continuing operations	$ 0.41	$ 0.15	$ 0.10	$ 0.27	$ 0.45	$ 0.36	$ 0.29	$ 0.41	$ 0.92	$ 1.51	$ 1.25
(Loss)/income from discontinued operations									0.00	0.01	(0.04)
Net income	0.41	0.15	0.09	0.27	0.45	0.37	0.28	0.41	0.92	1.52	1.21
Earnings per share - Diluted
Income from continuing operations	0.40	0.15	0.09	0.26	0.44	0.35	0.28	0.40	0.90	1.47	1.22
(Loss)/income from discontinued operations									0.00	0.01	(0.04)
Net income	$ 0.40	$ 0.15	$ 0.09	$ 0.26	$ 0.44	$ 0.36	$ 0.28	$ 0.40	$ 0.90	$ 1.49	$ 1.18

Change in Accrued Warranty (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Accounting Policies [Abstract]
Beginning Balance	$ 7,565	$ 8,423	$ 6,412
Warranties issued and adjustments to provisions	4,292	3,620	7,093
Warranty claims	(3,204)	(4,478)	(5,082)
Ending Balance	$ 8,653	$ 7,565	$ 8,423

Notes Payable and Financing Arrangements - Additional Information (Detail) - USD ($)		12 Months Ended
	Jun. 15, 2015	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013	Apr. 13, 2015	Dec. 11, 2014	Nov. 25, 2014	Jul. 15, 2014	Apr. 30, 2011
Debt Instrument [Line Items]
Credit facility, maturity			Jun. 15, 2020
Interest description of revolving line of credit			The Revolving Line provides for availability until June 15, 2020 for general corporate purposes and borrowings bear interest at a variable rate equal to LIBOR or prime plus an applicable margin based on our consolidated leverage ratio, at our election.
Interest expense			$ 11,330,000	$ 12,261,000	$ 5,781,000
Debt Instrument Maturity Date			Jun. 15, 2020
Maximum consolidated coverage ratio			300.00%
Minimum consolidated coverage ratio			100.00%
Amortization to interest expense for all debt issuance costs			$ 1,500,000	1,900,000	680,000
Outstanding letters of credit			1,000,000
Other assets
Debt Instrument [Line Items]
Debt issuance costs			$ 2,600,000	3,800,000
5.875% Senior notes due 2017
Debt Instrument [Line Items]
Notes issued				$ 47,100,000
Debt instrument, interest rate			5.875%	5.875%
5.875% Senior notes due 2017 \| Scenario, Forecast
Debt Instrument [Line Items]
Debt issuance write-off costs		$ 1,700,000
9.5% Senior notes due 2016
Debt Instrument [Line Items]
Notes issued										$ 50,000,000
Debt instrument, interest rate			9.50%
Debt instrument, maturity year			2016
Payment for repurchase of Senior Notes					$ 6,400,000
Value of convertible notes exchanged for senior notes				$ 42,800,000
Value of Senior Notes extinguished via legal defeasance				712,000
5.000% Senior Notes due 2018
Debt Instrument [Line Items]
Notes issued			$ 75,000,000
Debt instrument, interest rate			5.00%
Debt issuance costs			$ 2,300,000
Debt Instrument Maturity Date			Jul. 15, 2018
Senior Notes Indenture, maximum number of shares allowed for repurchase as a percentage of Consolidated net income for previous four consecutive published fiscal quarters			75.00%
5.000% Senior Notes due 2018 \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Description of redemption for senior notes			(a) upon not less than 30 nor more than 60 days’ prior notice, redeem all or a portion of the 5.000% Senior Notes at the redemption price of 100% of the principal amount of the 5.000% Senior Notes, plus an applicable premium, plus accrued and unpaid interest as of the redemption date; or (b) redeem up to 35% of the aggregate principal amount of the 5.000% Senior Notes with the net cash proceeds of one or more equity offerings at a redemption price of 105.000% of the principal amount of the 5.000% Senior Notes, plus accrued and unpaid interest as of the redemption date; provided, that in the case of the foregoing clause, at least 65% of the aggregate original principal amount of the 5.000% Senior Notes remains outstanding, and the redemption occurs within 60 days after the closing of the equity offering.
5.000% Senior Notes due 2018 \| Debt Instrument, Redemption, Period One \| Debt Instrument Redemption Scenario One
Debt Instrument [Line Items]
Redemption price of senior notes			100.00%
Percentage of redeem notes			65.00%
5.000% Senior Notes due 2018 \| Debt Instrument, Redemption, Period One \| Debt Instrument Redemption Scenario Two
Debt Instrument [Line Items]
Redemption price of senior notes			105.00%
Percentage of redeem notes			35.00%
5.000% Senior Notes due 2018 \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Description of redemption for senior notes			upon not less than 30 nor more than 60 days’ prior notice, redeem all or a portion of the 5.000% Senior Notes at a redemption price of (a) 102.500% of the principal amount of the 5.000% Senior Notes to be redeemed, if redeemed during the 12-month period beginning on July 15, 2016; or (b) 100% of the principal amount of the 5.000% Senior Notes to be redeemed, if redeemed during the 12-month period beginning on July 15, 2017, plus, in either case, accrued and unpaid interest on the 5.000% Senior Notes as of the applicable redemption date.
5.000% Senior Notes due 2018 \| Debt Instrument, Redemption, Period Two \| Debt Instrument Redemption Scenario One
Debt Instrument [Line Items]
Redemption price of senior notes			102.50%
5.000% Senior Notes due 2018 \| Debt Instrument, Redemption, Period Two \| Debt Instrument Redemption Scenario Two
Debt Instrument [Line Items]
Redemption price of senior notes			100.00%
Extinguished Indebtedness \| 9.5% Senior notes due 2016
Debt Instrument [Line Items]
Debt issuance write-off costs				$ 795,000
Debt instrument, interest rate				9.50%
Interest expense				$ 4,300,000
Additional Debt \| 5.875% Senior notes due 2017
Debt Instrument [Line Items]
Proceeds from issuance of Senior Notes				$ 52,900,000
Subsequent Events
Debt Instrument [Line Items]
Credit facility, maturity	Jun. 15, 2020
Percentage of interest rate protection on term loan	75.00%
Percentage of call premium	2.9375%
Subsequent Events \| Term Loan
Debt Instrument [Line Items]
Outstanding debt	$ 105,000,000
Percentage of principal payment on term loan	6.00%
Minimum \| 5.000% Senior Notes due 2018
Debt Instrument [Line Items]
Senior Notes Indenture, number of shares allowed for repurchase			$ 50,000,000
Minimum \| 5.000% Senior Notes due 2018 \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Notice period of senior notes			30 days
Minimum \| 5.000% Senior Notes due 2018 \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Notice period of senior notes			30 days
Maximum \| 5.000% Senior Notes due 2018
Debt Instrument [Line Items]
Senior Notes Indenture, number of shares allowed for repurchase			$ 75,000,000
Maximum \| 5.000% Senior Notes due 2018 \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Notice period of senior notes			60 days
Maximum \| 5.000% Senior Notes due 2018 \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Notice period of senior notes			60 days
Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility									$ 75,000,000
Unsecured Revolving Credit Facility \| Subsequent Events
Debt Instrument [Line Items]
Line of credit facility, borrowing capacity	$ 175,000,000
Credit Facilities
Debt Instrument [Line Items]
Line of credit facility								$ 125,000,000
Line of credit facility increments						$ 50,000,000
Line of credit facility, borrowing capacity						$ 175,000,000
Credit facility, maturity			Dec. 15, 2016
Interest description of revolving line of credit			Variable rate equal to LIBOR or prime, at our election, plus an applicable margin based on our consolidated leverage ratio.
Borrowings outstanding			$ 0
Credit Facilities \| Prime Rate Option
Debt Instrument [Line Items]
Interest rate on borrowings			4.00%
Credit Facilities \| LIBOR Rate Option \| Minimum
Debt Instrument [Line Items]
Interest rate on borrowings			2.18%
Credit Facilities \| LIBOR Rate Option \| Maximum
Debt Instrument [Line Items]
Interest rate on borrowings			2.28%
BTI Acquisition
Debt Instrument [Line Items]
Line of credit facility							$ 100,000,000
BTI Acquisition \| Credit Facilities
Debt Instrument [Line Items]
Line of credit facility increments								$ 50,000,000

Breakdown of Net sale (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Apr. 30, 2015

Jan. 31, 2015

Oct. 31, 2014

Jul. 31, 2014

Apr. 30, 2014

Jan. 31, 2014

Oct. 31, 2013

Jul. 31, 2013

Apr. 30, 2015

Apr. 30, 2014

Apr. 30, 2013

Segment Reporting Revenue Reconciling Item [Line Items]

Total Net Sales

$ 180,997

$ 130,550

$ 108,446

$ 131,869

$ 170,425

$ 145,881

$ 139,294

$ 171,020

$ 551,862

$ 626,620

$ 587,514

Firearms

Segment Reporting Revenue Reconciling Item [Line Items]

Total Net Sales

531,222

626,620

587,514

Firearms | Handguns

Segment Reporting Revenue Reconciling Item [Line Items]

Total Net Sales

395,500

422,992

324,627

Firearms | Long Guns

Segment Reporting Revenue Reconciling Item [Line Items]

Total Net Sales

90,178

155,311

179,187

Firearms | Walther

Segment Reporting Revenue Reconciling Item [Line Items]

Total Net Sales

506

5,651

41,646

Firearms | Other products and services

Segment Reporting Revenue Reconciling Item [Line Items]

Total Net Sales

45,038

$ 42,666

$ 42,054

Accessories

Segment Reporting Revenue Reconciling Item [Line Items]

Total Net Sales

^[1]

$ 20,640

[1]

Results of operations for the year ended April 30, 2015 include activity for the period subsequent to the BTI Acquisition. We operated under one segment in the prior year, thus no comparative segment information is being presented. Due to the timing of the BTI Acquisition, the segment data above includes all corporate overhead expenses in our firearm segment until we determine our allocation methodology for corporate overhead expenses.

Net Sales - Additional Information (Detail) - USD ($)	12 Months Ended
Net Sales - Additional Information (Detail) - USD ($)	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Segment Reporting Information [Line Items]
Export sales as percentage of revenue	4.00%	3.00%	3.00%
Total assets	$ 494,992,000	$ 381,503,000
Firearms
Segment Reporting Information [Line Items]
Total assets	345,300,000
Total International \| Firearms
Segment Reporting Information [Line Items]
Total assets	$ 0	$ 0	$ 0

Breakdown of Export Sales (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Breakdown of Export Sales (Detail) - USD ($) $ in Thousands	Apr. 30, 2015	Jan. 31, 2015	Oct. 31, 2014	Jul. 31, 2014	Apr. 30, 2014	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2013	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Concentration Risk [Line Items]
Net sales	$ 180,997	$ 130,550	$ 108,446	$ 131,869	$ 170,425	$ 145,881	$ 139,294	$ 171,020	$ 551,862	$ 626,620	$ 587,514
Europe
Concentration Risk [Line Items]
Net sales									8,164	6,279	2,979
Asia
Concentration Risk [Line Items]
Net sales									1,463	1,766	6,319
Latin America
Concentration Risk [Line Items]
Net sales									1,643	200	1,693
All others international
Concentration Risk [Line Items]
Net sales									11,570	9,605	8,003
Total International
Concentration Risk [Line Items]
Net sales									$ 22,840	$ 17,850	$ 18,994

Advertising Costs - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Selling and Marketing Expense
Advertising Costs [Line Items]
Advertising expense for continuing operations	$ 20.2	$ 19.5	$ 15.1

Summary of Property Plant and Equipment (Detail) - USD ($) $ in Thousands	Apr. 30, 2015	Apr. 30, 2014
Property Plant And Equipment [Abstract]
Machinery and equipment	$ 191,480	$ 156,030
Software and hardware	30,945	27,331
Building and improvements	19,946	12,187
Land and improvements	3,214	2,150
Property plant and equipment gross	245,585	197,698
Less: Accumulated depreciation and amortization	(116,663)	(93,138)
Property plant and equipment before construction in progress	128,922	104,560
Construction in progress	4,922	15,880
Total property, plant, and equipment, net	$ 133,844	$ 120,440

Property Plant and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Property Plant And Equipment [Line Items]
Depreciation and amortization expense from continuing operations	$ 30,893	$ 21,704	$ 16,730
Software
Property Plant And Equipment [Line Items]
Depreciation and amortization expense from continuing operations	$ 24,800	$ 19,100	$ 15,400

Summary of Depreciation and Amortization Expense for Continuing Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization	$ 30,893	$ 21,704	$ 16,730
Cost of products and services sold
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization	20,640	16,505	14,238
Research and development
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization	403	325	116
Selling and marketing
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization	255	207	247
General and administrative
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization	8,134	2,720	1,449
Interest expense
Depreciation and Other Amortization Expenses [Line Items]
Depreciation and amortization	$ 1,461	$ 1,947	$ 680

Summary of Inventories (Detail) - USD ($) $ in Thousands	Apr. 30, 2015	Apr. 30, 2014
Inventory Disclosure [Abstract]
Finished goods	$ 28,240	$ 26,523
Finished parts	34,269	47,109
Work in process	7,492	7,643
Raw material	6,894	5,467
Total inventories	$ 76,895	$ 86,742

Summary of Intangible Assets (Detail) - USD ($)
$ in Thousands

12 Months Ended

Apr. 30, 2015

Apr. 30, 2014

Finite-Lived Intangible Assets [Line Items]

Total intangible assets, gross

$ 81,268

^[1]

$ 6,726

Less: Accumulated amortization

(7,950)

^[1]

(3,603)

Finite lived intangible assets, net

73,318

^[1]

3,123

Total intangible assets, net

73,768

^[1]

$ 3,425

Developed technology

Finite-Lived Intangible Assets [Line Items]

Total intangible assets, gross

^[1]

$ 16,630

Weighted average life

5 years 2 months 12 days

0 years

Customer relationships

Finite-Lived Intangible Assets [Line Items]

Total intangible assets, gross

$ 28,260

^[1]

$ 1,740

Weighted average life

6 years 1 month 6 days

9 years 1 month 6 days

Patents, trademarks, and tradenames

Finite-Lived Intangible Assets [Line Items]

Total intangible assets, gross

$ 36,378

^[1]

$ 4,986

Weighted average life

5 years 3 months 18 days

5 years 6 months

Patents in progress

Finite-Lived Intangible Assets [Line Items]

Total intangible assets, gross

$ 450

^[1]

$ 302

[1]	The primary increase in intangible assets over the prior year is as a result of the BTI Acquisition.

Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense of intangible assets	$ 4,600,000	$ 645,000	$ 639,000

Intangible Assets - Schedule of Future Expected Amortization Expense (Detail) - USD ($)
$ in Thousands

Apr. 30, 2015

Apr. 30, 2014

Finite-Lived Intangible Assets [Line Items]

Finite lived intangible assets, net

$ 73,318

^[1]

$ 3,123

Accessories

Finite-Lived Intangible Assets [Line Items]

11,341

10,552

9,798

8,606

7,448

25,573

Finite lived intangible assets, net

$ 73,318

[1]	The primary increase in intangible assets over the prior year is as a result of the BTI Acquisition.

Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Apr. 30, 2015	Apr. 30, 2014
Payables And Accruals [Abstract]
Accrued rebates and promotions	$ 4,126	$ 2,633
Interest payable	3,362	2,194
Accrued employee benefits	3,065	2,148
Accrued professional fees	2,335	2,374
Accrued workers' compensation	833	916
Accrued distributor incentives	761	590
Accrued other	4,539	6,252
Total accrued expenses	$ 19,021	$ 17,107

Fair Value Measurement - Additional Information (Detail) - USD ($) $ in Millions	Apr. 30, 2015	Apr. 30, 2014
5.875% Senior notes due 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt instrument, interest rate	5.875%	5.875%
5.000% Senior Notes due 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt instrument, interest rate	5.00%
(Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	$ 42.1	$ 68.8

Self-Insurance Reserves - Additional Information (Detail) - USD ($)	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013	Apr. 30, 2012
Commitments And Contingencies Disclosure [Abstract]
Reserves for workers' compensation, product liability, municipal liability, and medical/dental costs	$ 9,610,000	$ 9,185,000	$ 9,570,000	$ 8,980,000
Reserves for workers' compensation, product liability, municipal liability, and medical/dental costs, Non-current portion	6,200,000	5,800,000
Reserves for workers' compensation, product liability, municipal liability, and medical/dental costs, included in accrued expenses	3,400,000	3,400,000
Workers' compensation receivable classified as an other asset	587,000	361,000
Amounts charged to expense	12,925,000	10,721,000	$ 12,201,000
Accrued reserves for product and municipal litigation liabilities	3,800,000	3,900,000
Accrued reserves for product and municipal litigation liabilities, Non-current portion	3,100,000	2,800,000
Receivables from insurance carriers, included in other assets	1,900,000	1,900,000
Receivables from insurance carriers, included in other current assets	$ 25,000	$ 25,000

Summary of Other Liabilities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Commitments And Contingencies Disclosure [Abstract]
Beginning balance	$ 9,185	$ 9,570	$ 8,980
Amounts charged to expense	12,925	10,721	12,201
Payments	(12,500)	(11,106)	(11,611)
Ending balance	$ 9,610	$ 9,185	$ 9,570

Stockholders' Equity - Additional Information (Detail)	12 Months Ended
Stockholders' Equity - Additional Information (Detail)	Apr. 30, 2015 USD ($) OptionPlan shares	Apr. 30, 2014 USD ($) shares	Apr. 30, 2013 USD ($) shares	May 01, 2014 USD ($)	Sep. 23, 2013 shares	Sep. 26, 2011 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase authorization \| $		$ 115,000,000		$ 30,000,000
Repurchasing shares	2,105,315
Repurchase shares value \| $	$ 30,040,000	115,887,000	$ 20,000,000
Fees and expenses incurred related to tender offer and open market purchases \| $	$ 40,000	887,000
Number of stock option plans \| OptionPlan	2
Intrinsic value of stock outstanding \| $	$ 16,100,000	20,800,000	12,100,000
Intrinsic value of stock exercisable \| $	16,000,000	17,000,000	8,700,000
Intrinsic value of stock exercised \| $	2,900,000	7,300,000	5,100,000
Unrecognized compensation cost of outstanding options \| $	1,000
Stock-based compensation expense \| $	$ 5,808,000	$ 8,212,000	$ 4,073,000
Performance period	3 years
Percentage of maximum aggregate award granted	200.00%
Percentage of stock outperform in order for target award to be earned	5.00%	10.00%	10.00%
Grant date fair value of vested RSUs and PSUs \| $	$ 4,000,000	$ 4,000,000	$ 726,000
2011 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option exercise price per share as a percentage of fair market value	85.00%
Number of shares an employee may purchase under the stock purchase plan	12,500
Fair market value of shares an employee may purchase under the stock purchase plan \| $	$ 25,000
Shares issued under employee stock purchase plan (in shares)	161,456	176,204	185,218
2011 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining contractual term	4 months 28 days
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Units, Awarded			152,000
Stock Units, Vested			2,000
Stock Units, Forfeited	41,250	9,000	35,000
PSUs \| Without Market Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Units, Awarded			14,250
PSUs \| Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Units, Awarded	112,000	117,500	63,050
Stock Units, Vested		30,000
PSUs \| Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Units, Awarded			320,279
Stock Units, Vested	93,200
PSUs \| Employees \| Without Market Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Units, Awarded			131,000
PSUs \| Employees And Consultants \| Without Market Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Units, Awarded			69,637
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Units, Awarded	554,933	565,556
Stock Units, Forfeited	57,752	17,316	16,996
RSUs \| Without Market Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Units, Vested			595,000
RSUs \| Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Units, Awarded	125,000	351,400	250,250
RSUs \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Units, Awarded	46,639	42,238	35,000
RSUs \| Non-Executive Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Units, Awarded	379,433	164,918	28,029
RSUs \| Consultant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Units, Awarded	46,600	7,000	7,000
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining contractual term	1 year 9 months 18 days
Stock Units, Awarded	709,672	718,056	535,329
Stock Units, Vested	433,266	457,851	83,887
Stock-based compensation expense \| $		$ 6,400,000	$ 1,800,000
Stock Units, Forfeited	101,002	26,316	53,996
Grant date fair value of vested RSUs and PSUs \| $	$ 5,400,000	$ 5,700,000
Unrecognized compensation cost related to unvested RSUs and PSUs \| $	7,000,000
Aggregate intrinsic value of outstanding RSUs and PSUs \| $	$ 3,300,000	$ 7,100,000	$ 491,000
RSUs and PSUs \| Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Units, Vested	433,266	457,851
RSUs and PSUs \| Employees And Consultants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense \| $	$ 5,100,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payroll deduction of participant's compensation	1.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payroll deduction of participant's compensation	20.00%
Maximum \| 2011 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved under employee stock purchase plan						6,000,000
2013 Incentive Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized of common stock					3,000,000
Period of award vested exercisable	10 years
Shares available for grant under incentive stock option	5,738,521
2013 Incentive Stock Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period to award vested and calculate volatility rate	3 years
2013 Incentive Stock Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period to award vested and calculate volatility rate	4 years
Tender Offer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase authorization \| $		$ 75,000,000
Repurchasing shares		1,417,233
Repurchase shares value \| $		$ 15,600,000
Open Market
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchasing shares		8,740,471
Repurchase shares value \| $		$ 99,400,000

Share Based Compensation Stock Options Activity (Detail) - $ / shares	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Number of shares and weighted average exercise prices
Options outstanding, beginning of year, Shares	2,258,349	3,019,127	3,988,164
Granted during period, Shares			3,500
Exercised during period, Shares	(365,719)	(732,778)	(847,042)
Canceled/forfeited during period, Shares	(13,000)	(28,000)	(125,495)
Options outstanding, end of period, Shares	1,879,630	2,258,349	3,019,127
Weighted average remaining contractual life	5 years 7 days	6 years 15 days	6 years 7 days
Options exercisable, end of period, Shares	1,878,464	1,873,494	2,087,675
Weighted average remaining contractual life	5 years 7 days	5 years 9 months	5 years
Weighted-Average Exercise Price
Options outstanding, beginning of year, Weighted-Average Exercise Price	$ 6.15	$ 5.31	$ 4.67
Granted during period, Weighted-Average Exercise Price			11.02
Exercised during period, Weighted-Average Exercise Price	4.96	2.73	4.10
Canceled/forfeited during period, Weighted-Average Exercise Price	7.98	5.59	3.87
Options outstanding, end of period, Weighted-Average Exercise Price	6.37	6.15	5.31
Options exercisable, end of period, Weighted-Average Exercise Price	$ 6.36	$ 6.29	$ 5.38

Share Based Payment Award Employee Stock Purchase Plan Valuation Assumptions (Detail)

12 Months Ended

Apr. 30, 2015

Apr. 30, 2014

Apr. 30, 2013

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Risk-free interest rate

^[1]

0.91%

0.32%

Dividend yield

^[2]

0.00%

Employee Stock Purchase Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Risk-free interest rate

0.07%

0.08%

0.13%

Expected term

6 months

Expected volatility

38.20%

41.90%

56.30%

Dividend yield

0.00%

Stock Option Grants

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Risk-free interest rate

0.31%

Expected volatility

70.00%

Dividend yield

0.00%

Stock Option Grants | Minimum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Expected term

5 years 10 months 2 days

Stock Option Grants | Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Expected term

7 years 10 months 2 days

[1]	The risk-free interest rate is based on the yield of a zero-coupon U.S. Treasury bill, commensurate with the three-year performance period.
[2]	We do not expect to pay dividends in the foreseeable future.

Stockholders' Equity - Summary of Stock Compensation Expense for Continuing Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 5,808	$ 8,212	$ 4,073
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	520	332	331
Selling and Marketing Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	139	74	39
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	379	225	92
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 4,770	$ 7,581	$ 3,611

Share Based Payment Award Performance Shares Valuation Assumptions (Detail)

12 Months Ended

Apr. 30, 2015

CorrelationCoefficient

$ / shares

Apr. 30, 2014

CorrelationCoefficient

$ / shares

Apr. 30, 2013

CorrelationCoefficient

$ / shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Correlation coefficient | CorrelationCoefficient

^[1]

0.32

0.46

0.47

Risk-free interest rate

^[2]

0.91%

0.32%

Dividend yield

^[3]

0.00%

Smith & Wesson Holding Corporation | PSUs

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Grant date fair market value

$ 14.90

$ 15.21

$ 8.71

Volatility

^[4]

44.51%

49.85%

49.28%

Russell 2000 Index

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Grant date fair market value

$ 1,246.95

$ 1,120.83

$ 935.25

Volatility

^[4]

15.76%

23.07%

25.72%

[1]	The correlation coefficient utilizes the same historical price data used to develop the volatility assumptions.
[2]	The risk-free interest rate is based on the yield of a zero-coupon U.S. Treasury bill, commensurate with the three-year performance period.
[3]	We do not expect to pay dividends in the foreseeable future.
[4]	Expected volatility is calculated over the most recent period that represents the remaining term of the performance period as of the valuation date, or three years

Share Based Payment Award Performance Shares Valuation Assumptions (Parenthetical) (Detail)	12 Months Ended
	Apr. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Zero-coupon U.S. Treasury bill performance period	3 years
U.S. Treasury Bill
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Zero-coupon U.S. Treasury bill performance period	3 years

Summary of Activity in Unvested RSUs and PSUs (Detail) - RSUs and PSUs - $ / shares	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Summary of activity in unvested restricted stock units and performance share units
Restricted Stock Units, RSUs and PSUs outstanding, beginning of year	1,015,475	781,586	384,140
Restricted Stock Units, Awarded	709,672	718,056	535,329
Restricted Stock Units, Vested	(433,266)	(457,851)	(83,887)
Restricted Stock Units, Forfeited	(101,002)	(26,316)	(53,996)
Restricted Stock Units, RSUs and PSUs outstanding, end of period	1,190,879	1,015,475	781,586
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, RSUs and PSUs outstanding, beginning of year	$ 10.56	$ 8.42	$ 7.91
Weighted Average Grant Date Fair Value, Awarded	11.82	11.87	9.43
Weighted Average Grant Date Fair Value, Vested	9.18	8.75	8.71
Weighted Average Grant Date Fair Value, Forfeited	11.93	8.88	6.14
Weighted Average Grant Date Fair Value, RSUs and PSUs outstanding, end of period	$ 12.45	$ 10.56	$ 8.42

Employer Sponsored Benefit Plans - Additional Information (Detail) $ in Millions	12 Months Ended
	Apr. 30, 2015 USD ($) InvestmentPlan	Apr. 30, 2014 USD ($)	Apr. 30, 2013 USD ($)
Contributory Defined Investment Plan
Defined Contribution Plan Disclosure [Line Items]
Number of contributory defined investment plan \| InvestmentPlan	2
Defined contribution plan, employee contribution percentage	100.00%
Defined contribution plan, matching contribution percentage	6.00%
Deferred compensation plan description	We offer two contributory defined investment plans covering substantially all employees, subject to service requirements. Employees may contribute up to 100% of their annual pay, depending on the plan. We generally make discretionary matching contributions of up to 50% of the first 6% of employee contributions to the plan.
Employer contribution to defined benefit plan	$ 2.3	$ 1.9	$ 1.7
Contributory Defined Investment Plan \| Maximum
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, matching contribution percentage of match	50.00%
Non-Contributory Profit Sharing Plan
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan service period		1 year
Employer contribution to defined benefit plan		$ 11.1	$ 9.6
Defined contribution plan expected contribution	$ 6.2

Income Tax Expense from Continuing Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Current:
Federal	$ 22,471	$ 43,470	$ 38,661
State	4,188	6,167	5,982
Total current	26,659	49,637	44,643
Deferred:
Deferred federal	2,274	(1,352)	1,508
Deferred state	(28)	(190)	349
Total deferred	2,246	(1,542)	1,857
Total income tax expense	$ 28,905	$ 48,095	$ 46,500

Reconciliation of Provision for Income Taxes from Continuing Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Income Tax Disclosure [Abstract]
Federal income taxes expected at 35% statutory rate	$ 27,556	$ 47,853	$ 44,767
State income taxes, less federal income tax benefit	3,015	4,535	4,576
Employee Stock Purchase Plan	82	77	131
Business meals and entertainment	205	187	107
Domestic production activity deduction	(2,462)	(4,325)	(3,708)
Research and development tax credit	(100)	(100)	(140)
Change in uncertain tax positions		(265)	237
Other	609	133	530
Total income tax expense	$ 28,905	$ 48,095	$ 46,500

Reconciliation of Provision for Income Taxes from Continuing Operations (Parenthetical) (Detail)	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Income Tax Disclosure [Abstract]
Federal income taxes, expected statutory rate	35.00%	35.00%	35.00%

Deferred Tax Assets (Deferred Tax Liabilities) Related to Temporary Differences (Detail) - USD ($) $ in Thousands	Apr. 30, 2015	Apr. 30, 2014
Deferred tax assets (liabilities):
Net deferred tax asset — current	$ 16,373	$ 17,094
Net deferred tax liability — non-current	(33,905)	(11,418)
Net deferred tax asset/(liability) — total	(17,532)	5,676
Current
Deferred tax assets (liabilities):
Inventories	9,587	8,088
Product liability	276	391
Accrued expenses, including compensation	2,934	5,991
Warranty reserve	2,449	2,114
Property taxes	(122)	(78)
Promotions	1,497	925
Less valuation allowance	(510)	(508)
Other	262	171
Net deferred tax asset — current	16,373	17,094
Non Current
Deferred tax assets (liabilities):
Net operating loss carryforwards and tax credits	2,809	2,633
Environmental reserves	258	238
Product liability	461	371
Workers' compensation	991	975
Warranty reserve	860	785
Stock-based compensation	4,429	4,280
State bonus depreciation	1,002	828
Property taxes	(25,612)	(19,947)
Intangible assets	(17,083)	224
Transaction costs		57
Pension	91	48
Less valuation allowance	(2,111)	(1,910)
Net deferred tax liability — non-current	$ (33,905)	$ (11,418)

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Income Tax [Line Items]
Gross tax-effected unrecognized tax benefits	$ 91,000	$ 84,000	$ 1,091,000
Accrued interest and penalties related to uncertain tax positions	23,000	15,000
Smith And Wesson Security Solutions Inc
Income Tax [Line Items]
Net operating loss carryforwards	$ 8,200,000
Acquisition date	Jul. 20, 2009
Operating carryforward limited in year one	$ 108,000
Operating carryforward limited in each year thereafter	108,000
Federal
Income Tax [Line Items]
Net operating loss carryforwards	$ 541,000
Operating loss carry forwards expiration year	2020
Valuation allowance deferred federal income tax assets	$ 0	0
State
Income Tax [Line Items]
Net operating loss carryforwards	16,800,000	16,200,000
Tax credit carryforwards	3,000,000	2,600,000
Valuation allowances for net operating loss carryforward	700,000	686,000
Valuation allowances for tax credits	$ 1,900,000	$ 1,700,000
State \| Minimum
Income Tax [Line Items]
Operating loss carry forwards expiration dates	Apr. 30, 2016
State tax credit carryforwards expire date	Apr. 30, 2018
State \| Maximum
Income Tax [Line Items]
Operating loss carry forwards expiration dates	Apr. 30, 2033
State tax credit carryforwards expire date	Apr. 30, 2025

Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) - USD ($)	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014
Income Tax Disclosure [Abstract]
Beginning balance	$ 84,000	$ 1,091,000
Interest, penalties, and impact of state deductions on federal taxes	7,000	(212,000)
Lapse of statute of limitations		(795,000)
Ending balance	$ 91,000	$ 84,000

Commitments and Contingencies - Additional Information (Detail)	12 Months Ended
	Apr. 30, 2015 USD ($) Case Claim	Apr. 30, 2014 USD ($)	Apr. 30, 2013 USD ($)	Apr. 30, 2011 USD ($)	May 05, 2014 USD ($)
Schedule Of Commitments And Contingencies [Line Items]
Number of Product liability cases \| Case	8
Number of Other product liability claims \| Claim	9
Defense and administrative costs	$ 252,000	$ 1,000,000	$ 758,000
Settlement fees related to product liability cases	177,000	460,000	42,000
Expense related to changes in product liability and municipal litigation liability	183,000	533,000	805,000
Environmental reserve in non-current liabilities	675,000	623,000
Refundable tax credit award				$ 6,000,000
Total tax credits earned	6,000,000
Tax credit receivable recorded	117,000
Rent expense	$ 3,300,000	$ 2,200,000	$ 2,200,000
Scottsdale \| Arizona
Schedule Of Commitments And Contingencies [Line Items]
Lease Expiration Date	Feb. 28, 2018
Rochester \| New Hampshire
Schedule Of Commitments And Contingencies [Line Items]
Lease Expiration Date	Sep. 30, 2015
Deep River \| Connecticut
Schedule Of Commitments And Contingencies [Line Items]
Lease Expiration Date	May 04, 2024
Columbia \| Missouri
Schedule Of Commitments And Contingencies [Line Items]
Lease Expiration Date	Apr. 30, 2023
Tri Town Precision Plastics Inc
Schedule Of Commitments And Contingencies [Line Items]
Amount placed in escrow					$ 3,000,000
Escrow deposit, remaining amount					$ 2,800,000
Potential Lower Limit
Schedule Of Commitments And Contingencies [Line Items]
Compensatory damages sought	$ 75,000
Maximum
Schedule Of Commitments And Contingencies [Line Items]
Compensatory damages sought	$ 1,500,000

Lease Commitments (Detail) $ in Thousands	Apr. 30, 2015 USD ($)
Commitments And Contingencies Disclosure [Abstract]
2016	$ 2,446
2017	1,975
2018	1,919
2019	1,780
2020	1,764
Thereafter	5,910
Operating Leases, Future Minimum Payments Due, Total	$ 15,794

Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Apr. 30, 2015	Jan. 31, 2015	Oct. 31, 2014	Jul. 31, 2014	Apr. 30, 2014	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2013	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 180,997	$ 130,550	$ 108,446	$ 131,869	$ 170,425	$ 145,881	$ 139,294	$ 171,020	$ 551,862	$ 626,620	$ 587,514
Gross profit	67,144	43,824	34,840	49,118	69,744	58,651	57,937	72,773	194,926	259,105	218,072
Income from continuing operations, net of tax	21,940	8,178	5,091	14,618	24,899	20,057	17,145	26,526	49,827	88,627	81,406
Income/(loss) from discontinued operations, net of tax	(54)	(57)	(41)	(62)	157	728	(158)	(49)	(214)	678	(2,693)
Net income	$ 21,886	$ 8,121	$ 5,050	$ 14,556	$ 25,056	$ 20,785	$ 16,987	$ 26,477	$ 49,613	$ 89,305	$ 78,713
Per common share
Basic - continuing operations	$ 0.41	$ 0.15	$ 0.10	$ 0.27	$ 0.45	$ 0.36	$ 0.29	$ 0.41	$ 0.92	$ 1.51	$ 1.25
Diluted - continuing operations	0.40	0.15	0.09	0.26	0.44	0.35	0.28	0.40	0.90	1.47	1.22
Basic - total	0.41	0.15	0.09	0.27	0.45	0.37	0.28	0.41	0.92	1.52	1.21
Diluted - total	0.40	0.15	0.09	0.26	0.44	0.36	0.28	0.40	0.90	1.49	$ 1.18
Market price low	12.16	9.22	9.03	12.32	11.31	10.76	10.25	8.53	9.03	8.53
Market price high	$ 15.30	$ 12.68	$ 13.43	$ 17.28	$ 15.70	$ 15.56	$ 13.38	$ 11.96	$ 17.28	$ 15.70

Segment Reporting - Additional Information (Detail) $ in Thousands	12 Months Ended
	Apr. 30, 2015 USD ($) Segment	Apr. 30, 2014 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| Segment	2
Property, plant, and equipment, net	$ 133,844	$ 120,440
Goodwill	75,426
Total assets	$ 494,992	$ 381,503
Firearms
Segment Reporting Information [Line Items]
Number of reportable segments \| Segment	1
Intangible assets	$ 3,700
Property, plant, and equipment, net	131,300
Goodwill	13,800
Total assets	$ 345,300
Accessories
Segment Reporting Information [Line Items]
Number of reportable segments \| Segment	1
Intangible assets	$ 70,100
Property, plant, and equipment, net	2,500
Goodwill	61,700
Total assets	$ 149,700

Segment Reporting - Schedule of Results by Business Segment (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Apr. 30, 2015

Jan. 31, 2015

Oct. 31, 2014

Jul. 31, 2014

Apr. 30, 2014

Jan. 31, 2014

Oct. 31, 2013

Jul. 31, 2013

Apr. 30, 2015

Apr. 30, 2014

Apr. 30, 2013

Segment Reporting Information [Line Items]

Net sales

$ 180,997

$ 130,550

$ 108,446

$ 131,869

$ 170,425

$ 145,881

$ 139,294

$ 171,020

$ 551,862

$ 626,620

$ 587,514

Cost of sales

356,936

367,515

369,442

Gross profit

$ 67,144

$ 43,824

$ 34,840

$ 49,118

$ 69,744

$ 58,651

$ 57,937

$ 72,773

194,926

259,105

218,072

Operating income/(loss)

89,628

150,988

132,834

Income tax expense/(benefit)

28,905

48,095

46,500

Firearms

Segment Reporting Information [Line Items]

Net sales

531,222

$ 626,620

$ 587,514

Cost of sales

342,663

Gross profit

188,559

Operating income/(loss)

92,532

Income tax expense/(benefit)

30,038

Accessories

Segment Reporting Information [Line Items]

Net sales

^[1]

20,640

Cost of sales

^[1],[2]

14,273

Gross profit

^[1]

6,367

Operating income/(loss)

^[1],[2]

(2,904)

Income tax expense/(benefit)

^[1]

$ (1,133)

[1]

[2]

Amount includes $4.2 million of additional cost of sales from the fair value step-up in inventory at the date of the BTI Acquisition and $3.6 million related to amortization of intangible assets recorded in general and administrative expenses as a result of the BTI Acquisition.

Segment Reporting - Schedule of Results by Business Segment (Parenthetical) (Detail) - USD ($)	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Segment Reporting Information [Line Items]
Amortization of intangible assets	$ 4,600,000	$ 645,000	$ 639,000
BTI Acquisition
Segment Reporting Information [Line Items]
Additional cost of goods sold from the fair value	4,200,000
Amortization of intangible assets	$ 3,600,000

Subsequent Events - Additional Information (Detail) - USD ($)		12 Months Ended
	Jun. 15, 2015	Apr. 30, 2015
Subsequent Event [Line Items]
Credit facility, maturity		Jun. 15, 2020
Debt Instrument Maturity Date		Jun. 15, 2020
Subsequent Events
Subsequent Event [Line Items]
Credit facility, maturity	Jun. 15, 2020
Subsequent Events \| Term Loan
Subsequent Event [Line Items]
Outstanding debt	$ 105,000,000
Subsequent Events \| 5.875% Senior Notes Plus Accrued and Unpaid Interest to Redemption Date
Subsequent Event [Line Items]
Outstanding debt	$ 100,000,000
Debt instrument, interest rate	5.875%
Subsequent Events \| Unsecured Revolving Credit Facility
Subsequent Event [Line Items]
Line of credit facility, borrowing capacity	$ 175,000,000