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General and administrative

^[1]

107,949

110,459

299,677

296,477

Gross profit

^[1]

54,059

46,917

162,867

138,348

Operating expenses:

Research and development

3,297

3,148

9,358

8,680

Selling and marketing

15,373

16,142

42,279

43,210

27,026

21,785

78,065

75,826

Goodwill impairment

10,396

Total operating expenses

56,092

41,075

140,098

127,716

Operating (loss)/income

^[1]

(2,033)

5,842

22,769

10,632

Other (expense)/income, net:

Other income/(expense), net

1,382

Interest expense, net

(2,548)

(2,999)

(6,822)

(8,353)

Total other (expense)/income, net

(2,501)

(2,912)

(6,784)

(6,971)

(Loss)/income from operations before income taxes

(4,534)

2,930

15,985

3,661

Change in unrealized (loss)/income on interest rate swap

^[1]

1,191

(8,465)

7,399

(8,803)

Net (loss)/income

(5,725)

11,395

8,586

12,464

Comprehensive (loss)/income:

(834)

853

(991)

1,089

Other comprehensive (loss)/income, before income taxes

(834)

853

(991)

1,089

Income tax benefit/(expense) on other comprehensive loss

217

(234)

257

(321)

Other comprehensive (loss)/income, net of tax

(617)

619

(734)

768

Comprehensive (loss)/income:

$ (6,342)

$ 12,014

$ 7,852

$ 13,232

Net (loss)/income per share:

Basic

$ (0.10)

$ 0.21

$ 0.16

$ 0.23

Diluted

$ (0.10)

$ 0.21

$ 0.16

$ 0.23

Weighted average number of common shares outstanding:

Basic

54,544

54,122

54,444

54,024

Diluted

54,544

54,657

55,132

54,830

[1]	We allocate all of corporate overhead expenses except for interest and income taxes, such as general and administrative expenses and other corporate-level expenses, to both our Firearms and Outdoor Products & Accessories segments.

Condensed Consolidated Statement of Changes in Stockholders' Equity - 9 months ended Jan. 31, 2019 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income/(Loss)	Treasury Stock
Balance at Apr. 30, 2018	$ 422,148	$ 72	$ 253,616	$ 389,146	$ 1,689	$ (222,375)
Balance (in shares) at Apr. 30, 2018	54,266,843	72,434,000
Treasury stock, shares at Apr. 30, 2018	18,166,862					18,167,000
Proceeds from exercise of employee stock options	$ 215		215
Proceeds from exercise of employee stock options (in shares)	32,899	33,000
Stock-based compensation	$ 6,070		6,070
Shares issued under employee stock purchase plan	$ 943		943
Shares issued under employee stock (in shares)	107,525	108,000
Change in unrealized loss on interest rate swap, net of tax effect	$ (734)				(734)
Impact of adoption of accounting standard updates	(4,610)			(4,610)
Issuance of common stock under restricted stock unit awards, net of shares surrendered	(631)	$ 1	(632)
Issuance of common stock under restricted stock unit awards, net of shares surrendered (in shares)		140,000
Net income	8,586			8,586
Balance at Jan. 31, 2019	$ 431,987	$ 73	$ 260,212	$ 393,122	$ 955	$ (222,375)
Balance (in shares) at Jan. 31, 2019	54,548,190	72,715,000
Treasury stock, shares at Jan. 31, 2019	18,166,862					18,167,000

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended	9 Months Ended		12 Months Ended
	Jan. 31, 2019	Jan. 31, 2019	Jan. 31, 2018	Apr. 30, 2018
Cash flows from operating activities:
Net income		$ 8,586	$ 12,464
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:
Depreciation and amortization		39,624	38,775
(Loss)/gain on sale/disposition of assets		(1,033)	36
Provision for losses on notes and accounts receivable		832	304
Goodwill impairment	$ 10,396	10,396
Deferred income taxes		(1,519)	(10,622)
Change in fair value of contingent consideration		(60)	(1,300)
Stock-based compensation expense		6,070	5,764
Changes in operating assets and liabilities:
Accounts receivable		(19,347)	34,103
Inventories		(20,186)	(25,914)
Prepaid expenses and other current assets		(591)	(803)
Income taxes		1,146	931
Accounts payable		664	(20,385)
Accrued payroll and incentives		5,815	(11,197)
Accrued profit sharing		297	(12,404)
Accrued expenses and deferred revenue		(8,532)	(14,667)
Accrued warranty		(1,550)	201
Other assets		10	(403)
Other non-current liabilities		123	613
Net cash provided by/(used in) operating activities		20,745	(4,504)
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired		(1,791)	(23,120)
Payments to acquire patents and software		(355)	(384)
Proceeds from sale of property and equipment		1,223	6
Payments to acquire property and equipment		(25,989)	(13,956)
Net cash used in investing activities		(26,912)	(37,454)
Cash flows from financing activities:
Proceeds from loans and notes payable		50,000	75,000
Payments on capital lease obligation		(1,025)	(484)
Payments on notes and loans payable		(54,725)	(54,725)
Proceeds from exercise of options to acquire common stock, including employee stock purchase plan		1,158	1,081
Payment of employee withholding tax related to restricted stock units		(631)	(2,271)
Net cash (used in)/provided by financing activities		(5,223)	18,601
Net decrease in cash and cash equivalents		(11,390)	(23,357)
Cash and cash equivalents, beginning of period		48,860	61,549	$ 61,549
Cash and cash equivalents, end of period	$ 37,470	37,470	38,192	$ 48,860
Supplemental disclosure of cash flow information Cash paid for:
Interest		5,554	8,574
Income taxes		6,885	1,355
Supplemental Disclosure of Non-cash Investing and Financing Activities:
Purchases of property and equipment included in accounts payable		1,606	3,453
Purchases of property and equipment funded by capital lease		24,271	11,119
Capital lease obligation		$ 24,271	$ 11,119

Organization

9 Months Ended

Jan. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization

(1) Organization:

We are a leading manufacturer, designer, and provider of consumer products for the shooting, hunting, and rugged outdoor enthusiast. 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 and suppressor markets. We are also a leading provider of shooting, hunting, and rugged outdoor products and accessories, including knives and cutting tools, sighting lasers, shooting supplies, tree saws, and survival gear. We have two reporting segments: (1) Firearms (which includes the Firearms and Manufacturing Services divisions) and (2) Outdoor Products & Accessories (which includes the Outdoor Products & Accessories and Electro-Optics divisions).

In our Firearms segment, we manufacture a wide array of handguns (including revolvers and pistols), long guns (including modern sporting rifles, bolt action rifles, and muzzleloaders), handcuffs, suppressors, and other firearm-related products 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 sell our firearm products under the Smith & Wesson, M&P, Performance Center, Gemtech, and Thompson/Center Arms brands. We manufacture our firearm products at our facilities in Springfield, Massachusetts; Houlton, Maine; and Deep River, Connecticut. We perform research and development activities for our suppressors and accessories products at our facility in Meridian, Idaho. We also sell our manufacturing services to other businesses under our Smith & Wesson and Smith & Wesson Precision Components brands.

In our Outdoor Products & Accessories segment, we design, source, distribute, and manufacture reloading, gunsmithing, and gun cleaning supplies; high-quality stainless steel cutting tools and accessories; flashlights; tree saws and related trimming accessories; shooting supplies, rests, and other related accessories; fishing accessories; apparel; vault accessories; laser grips and laser sights; and a full range of products for survival and emergency preparedness. We sell our products under the Caldwell, Wheeler, Tipton, Frankford Arsenal, Smith & Wesson, M&P, Thompson/Center, Lockdown, Hooyman, BOG-POD, Golden Rod, Non-Typical Wildlife Solutions, Crimson Trace, Imperial, Schrade, Old Timer, Uncle Henry, Bubba Blade, UST, LaserLyte, and KeyGear brands. We develop and market our outdoor products and accessories at our facilities in Columbia, Missouri; Wilsonville, Oregon; and Jacksonville, Florida.

During fiscal 2018, we acquired substantially all of the net assets of Gemini Technologies, Incorporated, or Gemtech, as well as Bubba Blade branded products and other assets from Fish Tales, LLC, in two separate transactions, which we refer to collectively as the 2018 Acquisitions. See Note 4 – Acquisitions below for more information regarding these transactions.

In January 2019, we acquired substantially all of the LaserLyte branded products and other assets, or LaserLyte, from P&L Industries Inc., or P&L Industries, for a purchase price of $2.0 million, subject to certain adjustments, utilizing cash on hand. P&L Industries was a provider of laser training and sighting products for the consumer market. The operations of LaserLyte will be fully integrated into our facility located in Wilsonville, Oregon and reported in our Outdoor Products & Accessories segment. This acquisition did not have a material impact on our condensed consolidated financial statements for all periods presented.

Basis of Presentation

9 Months Ended

Jan. 31, 2019

Accounting Policies [Abstract]

Basis of Presentation

(2) Basis of Presentation:

Interim Financial Information – The condensed consolidated balance sheet as of January 31, 2019, the condensed consolidated statements of (loss)/income and comprehensive (loss)/income for the three and nine months ended January 31, 2019 and 2018, the condensed consolidated statement of changes in stockholders’ equity for the nine months ended January 31, 2019, and the condensed consolidated statements of cash flows for the three and nine months ended January 31, 2019 and 2018 have been prepared by us without audit. 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 January 31, 2019 and for the periods presented, have been included. All intercompany transactions have been eliminated in consolidation. The consolidated balance sheet as of April 30, 2018 has been derived from our audited consolidated financial statements.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States, or GAAP, have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended April 30, 2018. The results of operations for the three and nine months ended January 31, 2019 may not be indicative of the results that may be expected for the year ending April 30, 2019, or any other period.

Revenue Recognition - We recognize revenue in accordance with the provisions of Accounting Standards Update, or ASU, Revenue from Contracts with Customers (Topic 606), which became effective for us on May 1, 2018. Generally, all performance obligations are satisfied and revenue is recognized when 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.

In some instances, sales include multiple performance obligations. The most common of these instances relates to sales promotion programs under which customers are entitled to receive free goods based upon their purchase of our products. The fulfillment of these free goods are our responsibility. In such instances, we allocate the revenue of the promotional sales based on the estimated level of participation in the sales promotional program and the timing of the shipment of all of the products included in the promotional program, including the free goods. Revenue is recognized proportionally as each performance obligation is satisfied, based on the relative transaction price of each product. The net change in contract liabilities for a given period is reported as an increase or decrease to sales.

Our product sales are generally sold free on board, or FOB, shipping point and provide payment terms to most commercial customers ranging from 20 to 90 days of product shipment with a discount available to some customers for early payment. For contracts with discounted terms, the transaction price is determined upon establishment of the contract that contains the final terms of the sale, including the description, quantity, and price of each product purchased. We estimate variable consideration relative to the amount of cash discounts to which customers are likely to be entitled. In some instances, we provide longer payment terms, particularly as it relates to our hunting dating programs, which represent payment terms due in the fall for certain orders of hunting products received in the spring and summer. We do not consider these extended terms to be a significant financing component of the contract because the payment terms are less than one year. In all cases, we consider our costs related to shipping and handling to be a cost of fulfilling the contract with the customer.

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 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.

In accordance with ASC 350, Intangibles-Goodwill and Other, we test goodwill 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 operating units to their carrying amounts to assess whether impairment is present. We have reviewed the provisions of ASC 350-20, with respect to the criteria necessary to evaluate the number of reporting units that exist. Based on our review of ASC 350-20, we have determined that we have three operating units: Firearms, Outdoor Products & Accessories, and Electro-Optics.

We estimate the fair value of our Firearms, Outdoor Products & Accessories, and Electro-Optics operating units using an equal weighting of the fair values derived from the income approach and the market approach because we believe a market participant would equally weight both approaches when valuing the operating units. 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. 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 revenue growth rates, profitability projections, and terminal value growth rates. The market approach estimates fair values based on the determination of appropriate publicly traded market comparison companies and market multiples of revenue and earnings derived from those companies with similar operating and investment characteristics as the operating unit being valued. Finally, we compare and reconcile our overall fair value to our market capitalization in order to assess the reasonableness of the calculated fair values of our operating units. We recognize an impairment loss for goodwill if the implied fair value of goodwill is less than the carrying value.

A combination of factors occurring in the firearms industry during the last few years, including changes in the political environment and reduced overall demand for both firearms and the accessories that are attached to firearms, such as laser sights, has resulted in us lowering our long-range sales volume, operating profit, and cash flow forecasts in our Electro-Optics operating unit. Based on those forecasts, we felt it important to seek out efficiencies in that operating unit to increase operating performance and as a result decided to combine our Electro-Optics operating units with our Outdoor Products & Accessories operating unit. The lowered forecasts and the decision to reorganize those operating units caused us to evaluate the fair value of our operating units utilizing those forecasts. Because of that evaluation, we recorded a $10.4 million impairment of goodwill in our Electro-Optics operating unit during the three months ended January 31, 2019. This impairment was recorded in our Outdoor Products & Accessories reporting segment.

We evaluated our other operating units and concluded that the fair value exceeded the carrying amount. The remeasurement of goodwill is classified as a Level 3 fair value assessment as described in Note 7 - Fair Value Measurement, due to the significance of unobservable inputs developed using company-specific information.

Recently Issued Accounting Standards – In May 2014, the Financial Accounting Standards Board, or FASB, issued ASU 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. We adopted the new standard on May 1, 2018 utilizing the modified retrospective approach. See Note 3 – Revenue Recognition and Contracts with Customers below for more information.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), or ASU 2016-02, which amends the existing guidance to require lessees to recognize lease assets and liabilities arising from operating leases in a classified balance sheet. The requirements of this ASU are effective for financial statements for annual periods beginning after December 15, 2018, and early adoption is permitted. We are in the process of implementing leasing software to assist us in the accounting and tracking of leases and plan to use the optional transition method allowed by ASU 2016-02. Under this method, the standard will be applied in the comparative period presented in the year of adoption. We plan to elect to use the package of practical expedients, which permits us to not reassess certain lease contract provisions. Although we anticipate the effect of ASU 2016-02 will result in increasing our lease assets and liabilities on our consolidated balance sheet, we are still evaluating the impact it will have on our consolidated financial statements. We plan to adopt ASU 2016-02 in our first quarter of fiscal 2020.

Revenue Recognition and Contracts with Customers

9 Months Ended

Jan. 31, 2019

Revenue Recognition [Abstract]

Revenue Recognition and Contracts with Customers

(3) Revenue Recognition and Contracts with Customers:

On May 1, 2018, we adopted ASU 2014-09 using the modified retrospective approach, and recorded a contract liability, included in accrued expenses in the condensed consolidated balance sheet, for outstanding performance obligations related to sales promotions. Under the modified retrospective approach, results for reporting periods after May 1, 2018 will be presented in accordance with ASU 2014-09, while prior period amounts will not be adjusted and will continue to be reported in accordance with the previous guidance, Accounting Standards Codification, or ASC, Topic 605, Revenue Recognition. When evaluating our performance obligations, we disaggregate revenue based on major product lines, which correlate with our reportable segments disclosed in Note 12 — Segment Reporting. Also, domestic sales account for 95% of our total net sales. There are no significant judgments or estimates used in the determination of performance obligations, and the transaction price for the performance obligations are allocated on a pro-rata basis. There are no other contract costs that need to be considered based on the nature of our performance obligations.

The following table outlines adjustments we recorded to our condensed consolidated balance sheet as a result of the adoption of ASU 2014-09 (in thousands):

	Balance at April 30, 2018		Accounting Standard Adjustments			Opening Balance May 1, 2018
Accrued expenses and deferred revenue	$	41,632	$	(17,176	)	$	24,456
Deferred revenue from contracts with customers	—			23,305			23,305
Deferred income taxes		12,895		(1,519	)		11,376
Retained earnings		389,146		(4,610	)		384,536

At April 30, 2018, we had accrued $17.2 million of sales promotions, representing the cost of free goods earned but not yet shipped to our customers. On adoption of ASU 2014-09, we reversed this accrual and recorded deferred revenue of $23.3 million relating to these outstanding performance obligations, a deferred tax asset of $1.5 million, and a $4.6 million adjustment to reduce the opening balance of retained earnings at May 1, 2018. Deferred revenue is recorded in accrued expenses in the condensed consolidated balance sheet.

The following table outlines the impact of the adoption of ASU 2014-09 on revenue recognized during the nine-month period ended January 31, 2019 (in thousands):

Outstanding performance obligations with customers as of May 1, 2018	$	23,305
Revenue recognized		(13,998	)
Revenue deferred		4,314
Outstanding performance obligations with customers as of July 31, 2018		13,621
Revenue recognized		(12,337	)
Revenue deferred		7,667
Outstanding performance obligations with customers as of October 31, 2018		8,951
Revenue recognized		(10,229	)
Revenue deferred		9,064
Outstanding performance obligations with customers as of January 31, 2019	$	7,786

During the nine months ended January 31, 2019, we recognized $22.6 million of revenue previously deferred as of May 1, 2018 as the performance obligations relating to sales promotions was satisfied. In addition, we deferred $7.1 million during fiscal 2019, net of revenue recognized, as the performance obligations related to sales promotions have not been satisfied, resulting in an outstanding performance obligation liability of $7.8 million that is recorded in accrued expenses in the condensed consolidated balance sheet. During the nine months ended January 31, 2019, we recognized a $15.5 million net increase of revenue relating to the adoption of ASU 2014-09. We estimate that the majority of the revenue from the outstanding performance obligations as of January 31, 2019 will be recognized during fiscal 2019. As a result of the adoption of ASU 2014-09, for the three months ended January 31, 2019, gross margin was unfavorably impacted by 100 basis points and earnings per share was increased by $0.01, and for the nine months ended January 31, 2019, gross margin was unfavorably impacted by 600 basis points and earnings per share was increased by $0.05.

Acquisitions

9 Months Ended

Jan. 31, 2019

Business Combinations [Abstract]

Acquisitions

(4) Acquisitions:

2018 Acquisitions

In August 2017, in two separate transactions, we acquired (1) substantially all of the net assets of Gemtech and (2) Bubba Blade branded products and other assets from Fish Tales, LLC. The aggregate purchase price for the two acquisitions was $23.1 million, subject to certain adjustments, for which we utilized a combination of cash on hand and borrowings under our revolving line of credit. In connection with the Gemtech acquisition, additional consideration of up to a maximum of $17.1 million may be paid contingent upon the cumulative three-year sales volume of Gemtech products. The valuation of this contingent consideration liability was established in accordance with ASC 805 — Business Combinations. Based on current forecasted revenue, we believe it is unlikely that the acquired business will achieve the performance metrics. Therefore, as of January 31, 2019, the contingent liability was recorded at a fair value of $100,000 in non-current liabilities. Gemtech, based in Meridian, Idaho, is a provider of quality suppressors and accessories for the consumer, law enforcement, and military markets. Fish Tales, LLC, based in Oro Valley, Arizona and currently operated out of our Columbia, Missouri facility, was a provider of premium sportsmen knives and tools for fishing and hunting, including the premium knife brand Bubba Blade. The valuations of the assets acquired and liabilities assumed in the 2018 Acquisitions are complete. During the three months ended October 31, 2018, we increased goodwill by $618,000 due to inventory valuation adjustments.

The following table summarizes the allocation of the purchase price for the 2018 Acquisitions (in thousands):

	2018 Acquisitions		Measurement
	(As Initially		Period			2018 Acquisitions
	Reported)		Adjustments			(As Adjusted)
Accounts receivable	$	846		(86	)	$	760
Inventories		4,683		(601	)		4,082
Other current assets		145		(56	)		89
Property, plant, and equipment		506		13			519
Intangibles		6,400		—			6,400
Goodwill		11,846		708			12,554
Total assets acquired		24,426		(22	)		24,404
Accounts payable		1,261		(25	)		1,236
Accrued payroll		49		(1	)	48
Other long-term liabilities		100		(100	)		—
Total liabilities assumed		1,410		(126	)		1,284
	$	23,016		104		$	23,120

We amortize intangible assets in proportion to expected annual revenue generated from the intangibles that we acquire. The following are the identifiable intangible assets acquired (in thousands) in the 2018 Acquisitions and their respective weighted average lives:

			Weighted Average
	Amount		Life (In years)
Developed technology	$	1,700		5.9
Customer relationships		1,600		5.2
Trade names		3,100		5.6
	$	6,400

Pro forma results of operations assuming that the 2018 Acquisitions had occurred as of May 1, 2016 are not required because of the immaterial impact on our consolidated financial statements for all periods presented.

Goodwill and Intangible Assets

9 Months Ended

Jan. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

(5) Goodwill and Intangible Assets:

The changes in the carrying amount of goodwill for the three and nine months ended January 31, 2019 by reporting segment are as follows:

				Outdoor Products &
	Firearms Segment			Accessories Segment			Total Goodwill
Balance as of April 30, 2018	$	18,490		$	172,797		$	191,287
Adjustments		(84	)		—			(84	)
Balance as of July 31, 2018		18,406			172,797			191,203
Adjustments		618			—			618
Balance as of October 31, 2018		19,024			172,797			191,821
Acquisitions		—			676			676
Goodwill impairment		—			(10,396	)		(10,396	)
Balance as of January 31, 2019	$	19,024		$	163,077		$	182,101

See Note 2 — Basis of Presentation for more detail on the goodwill impairment charge.

See Note 12 — Segment Reporting for more detail on segment financial information.

The following table presents a summary of intangible assets as of January 31, 2019 and April 30, 2018 (in thousands):

	January 31, 2019							April 30, 2018
	Gross							Gross
	Carrying		Accumulated			Net Carrying		Carrying		Accumulated			Net Carrying
	Amount		Amortization			Amount		Amount		Amortization			Amount
Customer relationships	$	92,560	$	(35,903	)	$	56,657	$	92,360	$	(28,252	)	$	64,108
Developed technology		21,230		(12,192	)		9,038		21,130		(8,178	)		12,952
Patents, trademarks, and trade names		57,425		(26,920	)		30,505		56,718		(22,099	)		34,619
Backlog		1,150		(1,150	)		—		1,150		(1,150	)		—
		172,365		(76,165	)		96,200		171,358		(59,679	)		111,679
Patents in progress		782		—			782		855		—			855
Total definite-lived intangible assets		173,147		(76,165	)		96,982		172,213		(59,679	)		112,534
Indefinite-lived intangible assets		226		—			226		226		—			226
Total intangible assets	$	173,373	$	(76,165	)	$	97,208	$	172,439	$	(59,679	)	$	112,760

We amortize intangible assets with determinable lives over a weighted-average period of approximately five years. The weighted-average periods of amortization by intangible asset class is approximately five years for customer relationships, six years for developed technology, and five years for patents, trademarks, and trade names. Amortization expense, excluding amortization of deferred financing costs, amounted to $5.5 million and $5.4 million for the three months ended January 31, 2019 and 2018, respectively. Amortization expense, excluding amortization of deferred financing costs, amounted to $16.5 million and $15.4 for the nine months ended January 31, 2019 and 2018, respectively.

Estimated amortization expense of intangible assets for the remainder of fiscal 2019 and succeeding fiscal years is as follows (in thousands):

Fiscal	Amount
2019	$	5,527
2020		19,204
2021		16,590
2022		14,204
2023		11,835
Thereafter		28,840
Total	$	96,200

Notes, Loans Payable, and Financing Arrangements

9 Months Ended

Jan. 31, 2019

Debt Disclosure [Abstract]

Notes, Loans Payable, and Financing Arrangements

(6) Notes, Loans Payable, and Financing Arrangements:

Credit Facilities – On June 15, 2015, we and certain of our domestic subsidiaries entered into an unsecured credit facility, or the Credit Agreement, 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, of which $82.9 million remained outstanding as of January 31, 2019. The Revolving Line provides for availability for general corporate purposes, with borrowings to bear interest at a variable rate equal to LIBOR or prime plus an applicable margin based on our consolidated leverage ratio, at our election. On October 27, 2016, we entered into a second amendment to our Credit Agreement, or the Second Amendment, which, among other things, increased the Revolving Line to $350.0 million, increased the option to expand the credit commitment to an additional $150.0 million, and extended the maturity of the Revolving Line from June 15, 2020 to October 27, 2021. Other than the changes described in the Second Amendment, we otherwise remain subject to the terms of the Credit Agreement, as described below. We incurred $525,000 of debt issuance costs related to this amendment and have recorded these costs in notes and loans payable in the condensed consolidated balance sheet.

As of January 31, 2019, we had $25.0 million of borrowings outstanding on the Revolving Line, which bore interest at 4.51%, equal to the LIBOR rate plus an applicable margin. The Term Loan, which bears interest at a variable rate, requires principal payments of $6.3 million per annum plus interest, payable quarterly. Any remaining outstanding amount under the Term Loan on the maturity date of June 15, 2020 will be due in full.

We were required to obtain interest rate protection on the Term Loan covering not less than 75% of the aggregate outstanding principal balance of the Term Loan. Accordingly, on June 18, 2015, we entered into an interest rate swap agreement, which expires on June 15, 2020, that covered 100% of the $105.0 million of floating rate debt. On July 6, 2015, we executed an interest rate swap pursuant to such agreement, which requires us to pay interest at a defined rate of 1.56% while receiving interest at a defined variable rate equal to the one-month LIBOR rate. This swap, when combined with the applicable margin based on our consolidated leverage ratio, effectively fixed our interest rate on the Term Loan, which is subject to change based on changes in our consolidated leverage ratio. As of January 31, 2019, our interest rate on the Term Loan was 4.46%.

As of January 31, 2019, the interest rate swap was considered effective and had no effect on earnings. The fair value of the interest rate swap on January 31, 2019 was an asset of $1.1 million, which was recorded in other assets on our condensed consolidated balance sheet. We do not expect the interest rate swap to have any material impact on earnings within the next 12 months.

2018 Senior Notes – During fiscal 2015, we issued an aggregate of $75.0 million of 5.000% Senior Notes due 2018, or the 2018 Senior Notes, to various institutional investors pursuant to the terms and conditions of an indenture and purchase agreements. The 2018 Senior Notes bore 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 2018 Senior Notes. As discussed below, the 2018 Senior Notes were redeemed on March 8, 2018 with proceeds from the issuance of 5.000% Senior Notes due 2020, or the 2020 Senior Notes. As part of the redemption, in fiscal 2018, we wrote off $226,000 of debt issuance costs related to the 2018 Senior Notes.

2020 Senior Notes – On February 28, 2018, we issued an aggregate of $75.0 million of the 2020 Senior Notes to various institutional investors pursuant to the terms and conditions of an indenture, or the 2020 Senior Notes Indenture, and purchase agreements. The 2020 Senior Notes bear interest at a rate of 5.000% per annum payable on February 28 and August 28 of each year, beginning on August 28, 2018. We incurred $158,000 of debt issuance costs related to the issuance of the 2020 Senior Notes.

At any time prior to February 28, 2019, we may, at our option, upon not less than 30 nor more than 60 days’ prior notice, redeem all or a portion of the 2020 Senior Notes at a redemption price of 102.500% of the principal amount of the 2020 Senior Notes to be redeemed plus accrued and unpaid interest as of the applicable redemption date. On or after February 28, 2019, we may, at our option, upon not less than 30 nor more than 60 days’ prior notice, redeem all or a portion of the 2020 Senior Notes at a redemption price of 100.000% of the principal amount of the 2020 Senior Notes to be redeemed plus accrued and unpaid interest as of the applicable redemption date. Subject to certain restrictions and conditions, we may be required to make an offer to repurchase the 2020 Senior Notes from the holders of the 2020 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 2020 Senior Notes mature on August 28, 2020.

The 2020 Senior Notes are general, unsecured obligations of our company. The 2020 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 2020 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 2020 Senior Notes Indenture, or the 2020 Senior Notes Lifetime Aggregate Limit. In addition, the 2020 Senior Notes Indenture provides for other exceptions to the restricted payments covenant, each of which are independent of the 2020 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 2020 Senior Notes in an aggregate amount not to exceed $75.0 million.

The limitation on indebtedness in the 2020 Senior Notes Indenture is only applicable at such time that the consolidated coverage ratio (as set forth in the 2020 Senior Notes Indenture) for us and our restricted subsidiaries is less than 3.00 to 1.00. In general, as set forth in the 2020 Senior Notes Indenture, 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 2020 Senior Notes as of January 31, 2019 approximated the fair value in considering Level 2 inputs within the hierarchy.

The Credit Agreement for our credit facility contains financial covenants relating to maintaining maximum leverage and minimum debt service coverage. The 2020 Senior Notes Indenture contains a financial covenant relating to times interest earned.

Letters of Credit – At January 31, 2019, we had outstanding letters of credit aggregating $1.0 million.

Fair Value Measurement

9 Months Ended

Jan. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurement

(7) Fair Value Measurement:

We follow the provisions of ASC 820-10, Fair Value Measurements and Disclosures Topic, or ASC 820-10, 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 condensed 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 and cash equivalents, which are measured at fair value on a recurring basis, totaled $37.5 million and $48.9 million as of January 31, 2019 and April 30, 2018, 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 (such as 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).

The carrying value of our Term Loan approximated the fair value as of January 31, 2019 in considering Level 2 inputs within the hierarchy. The carrying value of our 2020 Senior Notes as of January 31, 2019 approximated the fair value in considering Level 2 inputs within the hierarchy as our 2020 Senior Notes are not frequently traded. The fair value of our interest rate swap was estimated by a third party using inputs that are observable or that can be corroborated by observable market data, such as interest rate yield curves, and, therefore, is classified within Level 2 of the valuation hierarchy. For more information regarding the interest rate swap, refer to Note 6 — Notes, Loans Payable, and Financing Arrangements.

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.

The acquisition-related contingent consideration liability represents the estimated fair value of additional future earn-outs payable for acquisitions of businesses that included earn-out clauses. The valuation of the contingent consideration will be evaluated on an ongoing basis and is based on management estimates and entity-specific assumptions, which are considered Level 3 inputs.

In connection with our acquisition of substantially all the net assets of Ultimate Survival Technologies, Inc. in fiscal 2017, up to an additional $2.0 million could have been paid by us over a period of two years, contingent upon the financial performance of the acquired business. The valuation of this contingent consideration liability was established in accordance with ASC 805 — Business Combinations. The initial fair value of this contingent consideration liability was $1.7 million. Based on the forecasted revenue, during fiscal 2018, we recorded a $1.6 million reduction in the fair value of this contingent consideration liability because we did not expect that the acquired business would achieve the performance metrics. During the three months ended January 31, 2019, we recorded a $60,000 reduction in the remaining fair value of this contingent liability because we confirmed the performance metrics were not achieved. These reductions were recorded in other income on the condensed consolidated statements of income.

In connection with the Gemtech acquisition, up to a maximum of $17.1 million may be paid contingent upon the cumulative three-year sales volume of Gemtech products. The valuation of this contingent consideration liability was established in accordance with ASC 805 — Business Combinations. Based on current forecasted revenue, we believe it is unlikely that the acquired business will achieve the performance metrics. Therefore, as of January 31, 2019, the contingent liability was recorded at a fair value of $100,000 in non-current liabilities.

See Note 2 — Basis of Presentation regarding our remeasurement of goodwill in considering Level 3 inputs within the hierarchy.

Inventories

9 Months Ended

Jan. 31, 2019

Inventory Disclosure [Abstract]

Inventories

(8) Inventories:

The following table sets forth a summary of inventories, net of reserves, stated at lower of cost or net realizable value, as of January 31, 2019 and April 30, 2018 (in thousands):

	January 31, 2019		April 30, 2018
Finished goods	$	115,679	$	91,480
Finished parts		37,112		42,075
Work in process		7,263		7,657
Raw material		13,461		12,141
Total inventories	$	173,515	$	153,353

Stockholders' Equity

9 Months Ended

Jan. 31, 2019

Equity [Abstract]

Stockholders' Equity

(9) Stockholders’ Equity:

Treasury Stock

During fiscal 2017, our board of directors authorized the repurchase of up to $50.0 million of our common stock, subject to certain conditions, in the open market or in privately negotiated transactions until March 28, 2019. As of January 31, 2019, there were no share repurchases under this stock repurchase program.

Earnings per Share

The following table provides a reconciliation of the net income amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings per share for the three and nine months ended January 31, 2019 and 2018 (in thousands, except per share data):

	For the Three Months Ended January 31,
	2019										2018
	Net						Per Share				Net					Per Share
	Income				Shares		Amount				Income			Shares		Amount
Basic earnings	$		(5,725	)		54,544	$		(0.10	)	$		11,395		54,122	$		0.21
Effect of dilutive stock awards		—				—		—				—		535			—
Diluted earnings	$		(5,725	)		54,544	$		(0.10	)	$		11,395		54,657	$		0.21

	For the Nine Months Ended January 31,
	2019								2018
	Net					Per Share			Net					Per Share
	Income			Shares		Amount			Income			Shares		Amount
Basic earnings	$		8,586		54,444	$		0.16	$		12,464		54,024	$		0.23
Effect of dilutive stock awards		—			688		—			—			806		—
Diluted earnings	$		8,586		55,132	$		0.16	$		12,464		54,830	$		0.23

All our outstanding stock options and restricted stock units, or RSUs, were included in the computation of diluted earnings per share for the three and nine months ended January 31, 2019 and 2018.

Incentive Stock and Employee Stock Purchase Plans

We have two incentive stock plans: 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. Except in specific circumstances, grants vest over a period of three or four years and stock options are exercisable for a period of 10 years from the date of grant. 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 stock options for the nine months ended January 31, 2019 and 2018 were as follows:

	For the Nine Months Ended January 31,
	2019					2018
				Weighted					Weighted
				Average					Average
	Shares			Exercise Price		Shares			Exercise Price
Options outstanding, beginning of year		316,160		$	6.69		335,160		$	6.58
Exercised during the period		(32,899	)		6.52		(4,000	)		5.69
Options outstanding, end of period		283,261		$	6.71		331,160		$	6.59
Weighted average remaining contractual life	2.49 years					3.28 years
Options exercisable, end of period		283,261		$	6.71		331,160		$	6.59
Weighted average remaining contractual life	2.49 years					3.28 years

The aggregate intrinsic value of outstanding and exercisable stock options as of January 31, 2019 and 2018 was $1.5 million and $1.8 million, respectively. There were no stock options exercised in the three months ended January 31, 2019. The aggregate intrinsic value of the stock options exercised in the three months ended January 31, 2018 was $28,600. The aggregate intrinsic value of the stock options exercised in the nine months ended January 31, 2019 and 2018 was $230,000 and $23,600, respectively. At January 31, 2019, there was no unrecognized compensation expense relating to outstanding stock options.

We have an Employee Stock Purchase Plan, or ESPP, in which each participant is granted an option to purchase our common stock on each subsequent exercise date during the offering period (as such terms are defined in the ESPP) in accordance with the terms of the ESPP. During the nine months ended January 31, 2019 and 2018, 107,525 and 81,643 shares were purchased under our ESPP, respectively.

The total stock-based compensation expense, including stock options, purchases under our ESPP, RSUs, and performance-based RSUs, or PSUs, was $6.1 million and $5.8 million for the nine months ended January 31, 2019 and 2018, respectively. Stock-based compensation expense is included in cost of sales, sales and marketing, research and development, and general and administrative expenses.

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

We grant PSUs to our executive officers and certain management employees who are not executive officers. The PSUs vest, and the fair value of such PSUs will be recognized, over the corresponding three-year performance period.

During the nine months ended January 31, 2019, we granted an aggregate of 192,085 service-based RSUs, including 142,576 to non-executive officer employees and 49,509 RSUs to our directors. Compensation expense recognized related to grants of RSUs and PSUs was $5.8 million for the nine months ended January 31, 2019. During the nine months ended January 31, 2019, we cancelled 112,000 PSUs as a result of the performance metric not being met and 25,453 service-based RSUs as a result of the service condition not being met. In connection with the vesting of RSUs, during the nine months ended January 31, 2019, we delivered common stock to our employees and directors, including our executive officers, with a total market value of $2.4 million.

During the nine months ended January 31, 2018, we granted an aggregate of 232,672 service-based RSUs, including 189,360 to non-executive officer employees and 43,312 to our directors. In addition, in connection with a 2014 grant of 105,500 PSUs (i.e., the target amount granted), which achieved 115.2% of the targeted award, or the maximum award possible, we vested and delivered awards totaling 121,504 shares to certain of our executive officers. Compensation expense recognized related to grants of RSUs and PSUs was $5.2 million for the nine months ended January 31, 2018. During the nine months ended January 31, 2018, we cancelled 230,441 service-based RSUs as a result of the service condition not being met. We delivered common stock to our employees, including our executive officers, during the nine months ended January 31, 2018 under vested RSUs and PSUs with a total market value of $6.2 million.

A summary of activity for unvested RSUs and PSUs for the nine months ended January 31, 2019 and 2018 is as follows:

	For the Nine Months Ended January 31,
	2019					2018
				Weighted					Weighted
	Total # of			Average		Total # of			Average
	Restricted			Grant Date		Restricted			Grant Date
	Stock Units			Fair Value		Stock Units			Fair Value
RSUs and PSUs outstanding, beginning of period		1,442,316		$	17.80		1,428,848		$	18.46
Awarded		192,085			12.61		248,676			20.84
Vested		(195,808	)		19.54		(298,727	)		16.51
Forfeited		(137,453	)		16.05		(230,441	)		16.65
RSUs and PSUs outstanding, end of period		1,301,140		$	16.99		1,148,356		$	19.77

As of January 31, 2019, there was $6.5 million of unrecognized compensation expense related to unvested RSUs and PSUs. This expense is expected to be recognized over a weighted average remaining contractual term of 1.3 years.

Income Taxes

9 Months Ended

Jan. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

(10) Income Taxes:

Income tax provisions for interim periods are based on estimated effective annual income tax rates and include federal and state income taxes.

On December 22, 2017, the U.S. federal government enacted comprehensive tax legislation with the Tax Cuts and Jobs Act, or Tax Reform, which made broad and complex changes to the U.S. tax code. Tax Reform significantly revised the corporate federal income tax by, among other things, lowering the corporate federal income tax rate, limiting various deductions, and repealing the domestic manufacturing deduction. We expect to see net benefits from the lower federal tax rate, although there are offsetting effects from other components of Tax Reform.

Tax Reform reduced the U.S. federal statutory income tax rate from 35% to 21% generally effective for tax years beginning on or after January 1, 2018. Our U.S. federal statutory tax rate will be 21.0% in fiscal 2019.

On December 22, 2017, the SEC issued Staff Accounting Bulletin 118, or SAB118, that provided additional guidance allowing companies to use a measurement period, similar to that used in business combinations, to account for the impacts of Tax Reform in their financial statements. In accordance with SAB 118, to the extent that a company’s accounting for certain income tax effects of the Tax Reform was incomplete, the company was allowed a one-year period after the enactment date of Tax Reform to finalize the recording of the related tax accounting effects.

We estimated the impact of Tax Reform, based on currently available information and interpretations of the law, to be a benefit to us of $8.7 million, which was included in our fiscal 2018 tax benefit. The majority of the tax benefit is due to remeasurement of deferred tax assets and liabilities at lower enacted corporate federal tax rates, which did not have a cash impact in fiscal 2018. During the three months ended January 31, 2019, we completed our accounting and made no material adjustments to the provisional amounts previously recorded.

The income tax provisions represented effective tax rates of -26.3% and -288.9% for the three months ended January 31, 2019 and 2018, respectively. The income tax provisions represented effective tax rates of 46.3% and -240.5% for the nine months ended January 31, 2019 and 2018, respectively.

Commitments and Contingencies

9 Months Ended

Jan. 31, 2019

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

(11) Commitments and Contingencies:

Litigation

In January 2018, Gemini Technologies, Incorporated, or Gemini, commenced an action against us and Smith & Wesson Corp. in the United States District Court for the District of Idaho, or District Court. The complaint alleges, among other things, that the defendants breached the earn-out and other provisions of the Asset Purchase Agreement and ancillary agreements between the parties in connection with Smith & Wesson Corp.’s acquisition of the Gemtech business from Gemini. The complaint seeks a declaratory judgment interpreting various terms of the Asset Purchase Agreement and damages in the sum of $18.6 million. In May 2018, the District Court dismissed the complaint on the grounds of forum non conveniens. In June 2018, Gemini appealed the decision dismissing its complaint to the U.S. Court of Appeals for the Ninth Circuit. We believe the claims asserted in the complaint have no merit, and we intend to aggressively defend this action.

We are a defendant in six product liability cases and are aware of seven 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 monetary damages, as well as injunctive relief, allegedly arising out of the misuse of firearms by third parties. In January 2018, the trial court granted defendants’ Motion for Judgement on the Pleadings, dismissing the case in its entirety. In February 2018, plaintiffs appealed the dismissal to the Indiana Court of Appeals. In May 2018, we were named in an action related to the Parkland, Florida shooting, filed in the Circuit Court, Broward County, Florida, seeking a declaratory judgement that a Florida statute that provides firearm manufacturers and dealers immunity from liability when their legally manufactured and lawfully sold firearms are later used in criminal acts only applies to civil actions commenced by governmental agencies not private litigants. In August 2018, we moved to dismiss the complaint on the grounds that it seeks an impermissible advisory opinion.

We believe that the various allegations as described above are unfounded, and, in addition, that any incident and any results from them were due to negligence or misuse of the firearm by the claimant or a third party.

In addition, from time to time, 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 $350,000. 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, 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 a 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 accruals for defense costs.

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.

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

Leases

In fiscal 2017, we announced a plan to establish a national logistics facility in Boone County, Missouri. We ultimately plan to rely on this logistics facility for substantially all of our product distribution. In fiscal 2018, we broke ground on our new 633,000 square foot facility, which was completed in November 2018 and will become operational over the course of the remainder of the fiscal year. As part of the completion of the building, we entered into a lease agreement with the developer of the building for $46.2 million. The lease has an effective interest rate of approximately 5.0% and is payable in 240 monthly installments through fiscal 2039. Leases are accounted for under the provisions of ASC 840-10, Leases, which requires that leases be evaluated and classified as operating or capital leases for financial reporting purposes. Based on our evaluation under ASC 840-10, we determined that the lease qualified as a capital lease because the net present value of future lease payments exceeded 90% of the fair market value of the leased building. The building is pledged to secure the amounts outstanding. We included $615,000 of short-term capital lease obligation in accrued expenses and $45.6 million in long-term capital lease obligation on the condensed consolidated balance sheet. As noted above, we plan to adopt ASU 2016-02 - Leases, in our first quarter of fiscal 2020. Upon adoption, we plan to remove the current finance obligation and capital lease asset and record a right of use asset and lease liability equal to the net present value of future minimum lease payments. We expect the lease liability to be $40.8 million and right of use asset to be $41.6 million upon adoption of ASU 2016-02.

Future minimum lease payments, including all our capital leases, for the remainder of fiscal 2019 and the succeeding fiscal years is as follows (in thousands):

	Capital Lease Obligation
2019		804
2020		2,965
2021		3,016
2022		3,056
2023		3,072
Thereafter		66,320
Total future minimum lease payments		79,233
Less amounts representing interest		(32,993	)
Present value of minimum lease payments		46,240
Less current maturities of capital lease		(660	)
Long-term maturities of capital lease	$	45,580

UST Transition

In August 2018, we announced a plan to transition our Ultimate Survival Technologies, LLC, or UST, business and operations into our Columbia, Missouri facility. That plan includes (i) closing our Jacksonville, Florida facility as part of our previously announced strategy to consolidate warehousing and logistics operations into the national logistics facility that we are constructing in Missouri and (ii) relocating our Jacksonville-based UST sales, marketing, and research and development activities to Columbia, Missouri. In connection with the integration, we expect to incur restructuring charges of approximately $1.5 million to $2.5 million relating to tangible asset impairment, severance, retention, and relocation beginning in our second quarter of fiscal 2019 and concluding in our first quarter of fiscal 2020, with cash outlays primarily being incurred in our first quarter of fiscal 2020. For the nine months ended January 31, 2019, we have recorded approximately $741,000 of costs associated with this transition.

Segment Reporting

9 Months Ended

Jan. 31, 2019

Segment Reporting [Abstract]

Segment Reporting

(12) Segment Reporting:

We report our results of operations in two segments: (1) Firearms (which includes Firearms and Manufacturing Services divisions) and (2) Outdoor Products & Accessories (which includes the Outdoor Products & Accessories and Electro-Optics divisions). Our two segments are defined based on the reporting and review process used by the chief operating decision maker, our Chief Executive Officer. The Firearms segment has been determined to be a single operating segment and reporting segment based on our 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 Firearms segment. The Outdoor Products & Accessories segment represents two operating segments that have been aggregated into a reportable segment, which are evaluated by a measurement of incoming orders per day and sales and gross margin by customer and brand.

The Firearms segment includes our firearms, services, and other components, which we manufacture or provide at our facilities in Springfield, Massachusetts; Houlton, Maine; Meridian, Idaho; and Deep River, Connecticut, and our firearm products, which we develop, assemble, and market in our Springfield, Massachusetts facility. The Outdoor Products & Accessories segment includes our accessories products, which we develop, source, market, and distribute at our facilities in Columbia, Missouri and Jacksonville, Florida, and our electro-optics products, which we develop, market, and assemble in our Wilsonville, Oregon facility. We report operating costs based on the activities performed within each segment.

Segment assets are those directly used in or clearly allocable to a reportable segment’s operations. Assets by business segment are presented in the following table as of January 31, 2019 and April 30, 2018 (in thousands):

	As of January 31, 2019						As of April 30, 2018
	Firearms		Outdoor Products & Accessories		Total		Firearms		Outdoor Products & Accessories		Total
Total assets	$	388,395	$	384,443	$	772,838	$	346,517	$	398,543	$	745,060
Property, plant, and equipment, net		172,517		13,082		185,599		146,154		12,971		159,125
Intangibles, net		4,746		92,462		97,208		4,944		107,816		112,760
Goodwill		19,024		163,077		182,101		18,490		172,797		191,287

Results by business segment are presented in the following tables for the three months ended January 31, 2019 and 2018 (in thousands):

	For the Three Months Ended January 31, 2019 (a)
	Firearms		Outdoor Products & Accessories				Corporate			Intersegment Eliminations			Total
Revenue from external customers	$	123,045	$	38,963			$	—		$	—		$	162,008
Intersegment revenue		578		2,948				—			(3,526	)		—
Total net sales		123,623		41,911				—			(3,526	)		162,008
Cost of sales		89,262		22,564				—			(3,877	)		107,949
Gross margin		34,361		19,347				—			351			54,059
Operating income/(loss)		9,792		(13,529	)	(b)		(11,427	)		13,131			(2,033	)
Income tax expense/(benefit)		2,461		(459	)			(811	)		—			1,191

	For the Three Months Ended January 31, 2018 (a)
	Firearms		Outdoor Products & Accessories			Corporate			Intersegment Eliminations			Total
Revenue from external customers	$	116,882	$	40,494		$	—		$	—		$	157,376
Intersegment revenue		762		4,230			—			(4,992	)		—
Total net sales		117,644		44,724			—			(4,992	)		157,376
Cost of sales		91,301		23,649			—			(4,491	)		110,459
Gross margin		26,343		21,075			—			(501	)		46,917
Operating income/(loss)		7,604		1,058			(10,517	)		7,697			5,842
Income tax expense/(benefit)		14,519		(7,421	)		(15,563	)		—			(8,465	)

Results by business segment are presented in the following tables for the nine months ended January 31, 2019 and 2018 (in thousands):

	For the Nine Months Ended January 31, 2019 (a)
	Firearms		Outdoor Products & Accessories				Corporate			Intersegment Eliminations			Total
Revenue from external customers	$	338,513	$	124,031			$	—		$	—		$	462,544
Intersegment revenue		2,125		11,087				—			(13,212	)		—
Total net sales		340,638		135,118				—			(13,212	)		462,544
Cost of sales		239,639		73,474				—			(13,436	)		299,677
Gross margin		100,999		61,644				—			224			162,867
Operating income/(loss)		34,255		(15,550	)	(b)		(33,168	)		37,232			22,769
Income tax expense/(benefit)		9,295		(466	)			(1,430	)		—			7,399

	For the Nine Months Ended January 31, 2018 (a)
	Firearms		Outdoor Products & Accessories			Corporate			Intersegment Eliminations			Total
Revenue from external customers	$	315,545	$	119,280		$	—		$	—		$	434,825
Intersegment revenue		2,955		8,771			—			(11,726	)		—
Total net sales		318,500		128,051			—			(11,726	)		434,825
Cost of sales		236,224		70,463			—			(10,210	)		296,477
Gross margin		82,276		57,588			—			(1,516	)		138,348
Operating income/(loss)		10,536		(1,251	)		(33,030	)		34,377			10,632
Income tax expense/(benefit)		20,581		(7,988	)		(21,396	)		—			(8,803	)

(a)

We allocate all of corporate overhead expenses except for interest and income taxes, such as general and administrative expenses and other corporate-level expenses, to both our Firearms and Outdoor Products & Accessories segments.

(b)

Amount includes a non-cash goodwill impairment charge of $10.4 million recorded during the three months ended January 31, 2019.

Basis of Presentation (Policies)

9 Months Ended

Jan. 31, 2019

Accounting Policies [Abstract]

Interim Financial Information

Revenue Recognition

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.

Recently Issued Accounting Standards

Revenue Recognition and Contracts with Customers (Tables)

9 Months Ended

Jan. 31, 2019

Schedule of Impact of Adoption of ASU 2014-09 on Revenue Recognized

The following table outlines the impact of the adoption of ASU 2014-09 on revenue recognized during the nine-month period ended January 31, 2019 (in thousands):

Outstanding performance obligations with customers as of May 1, 2018	$	23,305
Revenue recognized		(13,998	)
Revenue deferred		4,314
Outstanding performance obligations with customers as of July 31, 2018		13,621
Revenue recognized		(12,337	)
Revenue deferred		7,667
Outstanding performance obligations with customers as of October 31, 2018		8,951
Revenue recognized		(10,229	)
Revenue deferred		9,064
Outstanding performance obligations with customers as of January 31, 2019	$	7,786

ASU 2014-09

Schedule of Adjustments to Condensed Consolidated Balance Sheet on Adoption of ASU 2014-09

The following table outlines adjustments we recorded to our condensed consolidated balance sheet as a result of the adoption of ASU 2014-09 (in thousands):

	Balance at April 30, 2018		Accounting Standard Adjustments			Opening Balance May 1, 2018
Accrued expenses and deferred revenue	$	41,632	$	(17,176	)	$	24,456
Deferred revenue from contracts with customers	—			23,305			23,305
Deferred income taxes		12,895		(1,519	)		11,376
Retained earnings		389,146		(4,610	)		384,536

Acquisitions (Tables) - Gemini Technologies, Incorporated and Bubba Blade Branded Products from Fish Tales, LLC

9 Months Ended

Jan. 31, 2019

Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the purchase price for the 2018 Acquisitions (in thousands):

	2018 Acquisitions		Measurement
	(As Initially		Period			2018 Acquisitions
	Reported)		Adjustments			(As Adjusted)
Accounts receivable	$	846		(86	)	$	760
Inventories		4,683		(601	)		4,082
Other current assets		145		(56	)		89
Property, plant, and equipment		506		13			519
Intangibles		6,400		—			6,400
Goodwill		11,846		708			12,554
Total assets acquired		24,426		(22	)		24,404
Accounts payable		1,261		(25	)		1,236
Accrued payroll		49		(1	)	48
Other long-term liabilities		100		(100	)		—
Total liabilities assumed		1,410		(126	)		1,284
	$	23,016		104		$	23,120

Identifiable Intangible Assets Acquired and Respective Weighted Average Lives

The following are the identifiable intangible assets acquired (in thousands) in the 2018 Acquisitions and their respective weighted average lives:

			Weighted Average
	Amount		Life (In years)
Developed technology	$	1,700		5.9
Customer relationships		1,600		5.2
Trade names		3,100		5.6
	$	6,400

Goodwill and Intangible Assets (Tables)

9 Months Ended

Jan. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the three and nine months ended January 31, 2019 by reporting segment are as follows:

				Outdoor Products &
	Firearms Segment			Accessories Segment			Total Goodwill
Balance as of April 30, 2018	$	18,490		$	172,797		$	191,287
Adjustments		(84	)		—			(84	)
Balance as of July 31, 2018		18,406			172,797			191,203
Adjustments		618			—			618
Balance as of October 31, 2018		19,024			172,797			191,821
Acquisitions		—			676			676
Goodwill impairment		—			(10,396	)		(10,396	)
Balance as of January 31, 2019	$	19,024		$	163,077		$	182,101

Summary of Intangible Assets

The following table presents a summary of intangible assets as of January 31, 2019 and April 30, 2018 (in thousands):

	January 31, 2019							April 30, 2018
	Gross							Gross
	Carrying		Accumulated			Net Carrying		Carrying		Accumulated			Net Carrying
	Amount		Amortization			Amount		Amount		Amortization			Amount
Customer relationships	$	92,560	$	(35,903	)	$	56,657	$	92,360	$	(28,252	)	$	64,108
Developed technology		21,230		(12,192	)		9,038		21,130		(8,178	)		12,952
Patents, trademarks, and trade names		57,425		(26,920	)		30,505		56,718		(22,099	)		34,619
Backlog		1,150		(1,150	)		—		1,150		(1,150	)		—
		172,365		(76,165	)		96,200		171,358		(59,679	)		111,679
Patents in progress		782		—			782		855		—			855
Total definite-lived intangible assets		173,147		(76,165	)		96,982		172,213		(59,679	)		112,534
Indefinite-lived intangible assets		226		—			226		226		—			226
Total intangible assets	$	173,373	$	(76,165	)	$	97,208	$	172,439	$	(59,679	)	$	112,760

Schedule of Future Expected Amortization Expense

Estimated amortization expense of intangible assets for the remainder of fiscal 2019 and succeeding fiscal years is as follows (in thousands):

Fiscal	Amount
2019	$	5,527
2020		19,204
2021		16,590
2022		14,204
2023		11,835
Thereafter		28,840
Total	$	96,200

Inventories (Tables)

9 Months Ended

Jan. 31, 2019

Inventory Disclosure [Abstract]

Summary of Inventories

The following table sets forth a summary of inventories, net of reserves, stated at lower of cost or net realizable value, as of January 31, 2019 and April 30, 2018 (in thousands):

	January 31, 2019		April 30, 2018
Finished goods	$	115,679	$	91,480
Finished parts		37,112		42,075
Work in process		7,263		7,657
Raw material		13,461		12,141
Total inventories	$	173,515	$	153,353

Stockholders' Equity (Tables)

9 Months Ended

Jan. 31, 2019

Equity [Abstract]

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

	For the Three Months Ended January 31,
	2019										2018
	Net						Per Share				Net					Per Share
	Income				Shares		Amount				Income			Shares		Amount
Basic earnings	$		(5,725	)		54,544	$		(0.10	)	$		11,395		54,122	$		0.21
Effect of dilutive stock awards		—				—		—				—		535			—
Diluted earnings	$		(5,725	)		54,544	$		(0.10	)	$		11,395		54,657	$		0.21

	For the Nine Months Ended January 31,
	2019								2018
	Net					Per Share			Net					Per Share
	Income			Shares		Amount			Income			Shares		Amount
Basic earnings	$		8,586		54,444	$		0.16	$		12,464		54,024	$		0.23
Effect of dilutive stock awards		—			688		—			—			806		—
Diluted earnings	$		8,586		55,132	$		0.16	$		12,464		54,830	$		0.23

Share Based Compensation Stock Options Activity

The number of shares and weighted average exercise prices of stock options for the nine months ended January 31, 2019 and 2018 were as follows:

	For the Nine Months Ended January 31,
	2019					2018
				Weighted					Weighted
				Average					Average
	Shares			Exercise Price		Shares			Exercise Price
Options outstanding, beginning of year		316,160		$	6.69		335,160		$	6.58
Exercised during the period		(32,899	)		6.52		(4,000	)		5.69
Options outstanding, end of period		283,261		$	6.71		331,160		$	6.59
Weighted average remaining contractual life	2.49 years					3.28 years
Options exercisable, end of period		283,261		$	6.71		331,160		$	6.59
Weighted average remaining contractual life	2.49 years					3.28 years

Summary of Activity for Unvested RSUs and PSUs

A summary of activity for unvested RSUs and PSUs for the nine months ended January 31, 2019 and 2018 is as follows:

	For the Nine Months Ended January 31,
	2019					2018
				Weighted					Weighted
	Total # of			Average		Total # of			Average
	Restricted			Grant Date		Restricted			Grant Date
	Stock Units			Fair Value		Stock Units			Fair Value
RSUs and PSUs outstanding, beginning of period		1,442,316		$	17.80		1,428,848		$	18.46
Awarded		192,085			12.61		248,676			20.84
Vested		(195,808	)		19.54		(298,727	)		16.51
Forfeited		(137,453	)		16.05		(230,441	)		16.65
RSUs and PSUs outstanding, end of period		1,301,140		$	16.99		1,148,356		$	19.77

Commitments and Contingencies (Tables)

9 Months Ended

Jan. 31, 2019

Commitments And Contingencies Disclosure [Abstract]

Summary of Future Minimum Lease Payments Including All Our Capital Leases

Future minimum lease payments, including all our capital leases, for the remainder of fiscal 2019 and the succeeding fiscal years is as follows (in thousands):

	Capital Lease Obligation
2019		804
2020		2,965
2021		3,016
2022		3,056
2023		3,072
Thereafter		66,320
Total future minimum lease payments		79,233
Less amounts representing interest		(32,993	)
Present value of minimum lease payments		46,240
Less current maturities of capital lease		(660	)
Long-term maturities of capital lease	$	45,580

Segment Reporting (Tables)

9 Months Ended

Jan. 31, 2019

Segment Reporting [Abstract]

Schedule of Assets by Business Segment

Assets by business segment are presented in the following table as of January 31, 2019 and April 30, 2018 (in thousands):

	As of January 31, 2019						As of April 30, 2018
	Firearms		Outdoor Products & Accessories		Total		Firearms		Outdoor Products & Accessories		Total
Total assets	$	388,395	$	384,443	$	772,838	$	346,517	$	398,543	$	745,060
Property, plant, and equipment, net		172,517		13,082		185,599		146,154		12,971		159,125
Intangibles, net		4,746		92,462		97,208		4,944		107,816		112,760
Goodwill		19,024		163,077		182,101		18,490		172,797		191,287

Schedule of Results by Business Segment

Results by business segment are presented in the following tables for the three months ended January 31, 2019 and 2018 (in thousands):

	For the Three Months Ended January 31, 2019 (a)
	Firearms		Outdoor Products & Accessories				Corporate			Intersegment Eliminations			Total
Revenue from external customers	$	123,045	$	38,963			$	—		$	—		$	162,008
Intersegment revenue		578		2,948				—			(3,526	)		—
Total net sales		123,623		41,911				—			(3,526	)		162,008
Cost of sales		89,262		22,564				—			(3,877	)		107,949
Gross margin		34,361		19,347				—			351			54,059
Operating income/(loss)		9,792		(13,529	)	(b)		(11,427	)		13,131			(2,033	)
Income tax expense/(benefit)		2,461		(459	)			(811	)		—			1,191

	For the Three Months Ended January 31, 2018 (a)
	Firearms		Outdoor Products & Accessories			Corporate			Intersegment Eliminations			Total
Revenue from external customers	$	116,882	$	40,494		$	—		$	—		$	157,376
Intersegment revenue		762		4,230			—			(4,992	)		—
Total net sales		117,644		44,724			—			(4,992	)		157,376
Cost of sales		91,301		23,649			—			(4,491	)		110,459
Gross margin		26,343		21,075			—			(501	)		46,917
Operating income/(loss)		7,604		1,058			(10,517	)		7,697			5,842
Income tax expense/(benefit)		14,519		(7,421	)		(15,563	)		—			(8,465	)

Results by business segment are presented in the following tables for the nine months ended January 31, 2019 and 2018 (in thousands):

	For the Nine Months Ended January 31, 2019 (a)
	Firearms		Outdoor Products & Accessories				Corporate			Intersegment Eliminations			Total
Revenue from external customers	$	338,513	$	124,031			$	—		$	—		$	462,544
Intersegment revenue		2,125		11,087				—			(13,212	)		—
Total net sales		340,638		135,118				—			(13,212	)		462,544
Cost of sales		239,639		73,474				—			(13,436	)		299,677
Gross margin		100,999		61,644				—			224			162,867
Operating income/(loss)		34,255		(15,550	)	(b)		(33,168	)		37,232			22,769
Income tax expense/(benefit)		9,295		(466	)			(1,430	)		—			7,399

	For the Nine Months Ended January 31, 2018 (a)
	Firearms		Outdoor Products & Accessories			Corporate			Intersegment Eliminations			Total
Revenue from external customers	$	315,545	$	119,280		$	—		$	—		$	434,825
Intersegment revenue		2,955		8,771			—			(11,726	)		—
Total net sales		318,500		128,051			—			(11,726	)		434,825
Cost of sales		236,224		70,463			—			(10,210	)		296,477
Gross margin		82,276		57,588			—			(1,516	)		138,348
Operating income/(loss)		10,536		(1,251	)		(33,030	)		34,377			10,632
Income tax expense/(benefit)		20,581		(7,988	)		(21,396	)		—			(8,803	)

(a)

(b)

Amount includes a non-cash goodwill impairment charge of $10.4 million recorded during the three months ended January 31, 2019.

Organization - Additional Information (Detail) $ in Thousands	1 Months Ended		9 Months Ended		12 Months Ended
	Jan. 31, 2019 USD ($)	Aug. 31, 2017 USD ($) Transaction	Jan. 31, 2019 USD ($) Segment	Jan. 31, 2018 USD ($)	Apr. 30, 2018 Transaction
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of reporting segments \| Segment			2
Payments to acquire business, net of cash acquired \| $			$ 1,791	$ 23,120
Gemini Technologies, Incorporated and Bubba Blade Branded Products from Fish Tales, LLC
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of transactions for acquisition \| Transaction		2			2
Payments to acquire business, net of cash acquired \| $		$ 23,100
P&L Industries Inc.
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Payments to acquire business, net of cash acquired \| $	$ 2,000
Firearms Segment
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of reporting segments \| Segment			1
Outdoor Products & Accessories Segment
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of reporting segments \| Segment			1

Basis of Presentation - Additional Information (Detail1) - ASU 2014-09 - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-02-01	Jan. 31, 2019
Minimum \| Commercial Customers
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Payment term	20 days
Maximum
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Payment term	1 year
Maximum \| Commercial Customers
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Payment term	90 days

Basis of Presentation - Additional Information (Detail) $ in Thousands	3 Months Ended	9 Months Ended
	Jan. 31, 2019 USD ($)	Jan. 31, 2019 USD ($) Segment
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Number of operating segments \| Segment		3
Impairment of goodwill	$ 10,396	$ 10,396
Outdoor Products & Accessories Segment
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Impairment of goodwill	$ 10,396
ASU 2014-09
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Description of payment terms		Our product sales are generally sold free on board, or FOB, shipping point and provide payment terms to most commercial customers ranging from 20 to 90 days of product shipment with a discount available to some customers for early payment. For contracts with discounted terms, the transaction price is determined upon establishment of the contract that contains the final terms of the sale, including the description, quantity, and price of each product purchased. We estimate variable consideration relative to the amount of cash discounts to which customers are likely to be entitled. In some instances, we provide longer payment terms, particularly as it relates to our hunting dating programs, which represent payment terms due in the fall for certain orders of hunting products received in the spring and summer. We do not consider these extended terms to be a significant financing component of the contract because the payment terms are less than one year.

Revenue Recognition and Contracts with Customers - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended
	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Jan. 31, 2019	May 01, 2018	Apr. 30, 2018
Disaggregation Of Revenue [Line Items]
Accrued sales promotions						$ 17,200
Deferred revenue relating to outstanding performance obligations	$ 7,786	$ 8,951	$ 13,621	$ 7,786		23,305
Reduction to beginning retained earnings	(393,122)			(393,122)		$ (389,146)
Revenue recognized	10,229	12,337	13,998	22,600
Revenue deferred	9,064	$ 7,667	$ 4,314	7,100
Outstanding performance obligation liability	$ 7,800			7,800
Net increase of revenue				$ 15,500
ASU 2014-09
Disaggregation Of Revenue [Line Items]
Deferred revenue relating to outstanding performance obligations					$ 23,305
Reduction to beginning retained earnings					(384,536)
ASU 2014-09 \| Accounting Standard Adjustments
Disaggregation Of Revenue [Line Items]
Deferred revenue relating to outstanding performance obligations					23,305
Deferred tax asset					1,500
Reduction to beginning retained earnings					$ 4,610
Percentage of unfavorable impact on gross margin	1.00%			6.00%
Increase in earnings per share basic	$ 0.01			$ 0.05
Increase in earnings per share diluted	$ 0.01			$ 0.05
Total Net Sales \| ASU 2014-09 \| Geographic Concentration Risk \| Domestic
Disaggregation Of Revenue [Line Items]
Concentration risk percentage				95.00%

Revenue Recognition and Contracts with Customers - Schedule of Adjustments to Condensed Consolidated Balance Sheet on Adoption of ASU 2014-09 (Detail) - USD ($) $ in Thousands	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	May 01, 2018	Apr. 30, 2018
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Accrued expenses and deferred revenue	$ 37,515				$ 41,632
Deferred revenue from contracts with customers	7,786	$ 8,951	$ 13,621		23,305
Deferred income taxes	11,118				12,895
Retained earnings	$ 393,122				$ 389,146
ASU 2014-09
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Accrued expenses and deferred revenue				$ 24,456
Deferred revenue from contracts with customers				23,305
Deferred income taxes				11,376
Retained earnings				384,536
ASU 2014-09 \| Accounting Standard Adjustments
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Accrued expenses and deferred revenue				(17,176)
Deferred revenue from contracts with customers				23,305
Deferred income taxes				(1,519)
Retained earnings				$ (4,610)

Revenue Recognition and Contracts with Customers - Schedule of Impact of Adoption of ASU 2014-09 on Revenue Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Jan. 31, 2019
Contract With Customer Liability [Abstract]
Outstanding performance obligations with customers, beginning balance	$ 8,951	$ 13,621	$ 23,305	$ 23,305
Revenue recognized	(10,229)	(12,337)	(13,998)	(22,600)
Revenue deferred	9,064	7,667	4,314	7,100
Outstanding performance obligations with customers, ending balance	$ 7,786	$ 8,951	$ 13,621	$ 7,786

Acquisitions - Additional Information (Detail)	1 Months Ended	3 Months Ended	9 Months Ended		12 Months Ended
Acquisitions - Additional Information (Detail)	Aug. 31, 2017 USD ($) Transaction	Oct. 31, 2018 USD ($)	Jan. 31, 2019 USD ($)	Jan. 31, 2018 USD ($)	Apr. 30, 2018 Transaction
Business Acquisition [Line Items]
Payments to acquire business, net of cash acquired			$ 1,791,000	$ 23,120,000
Business combination increased in goodwill due to inventory valuation adjustments		$ 618,000
Gemini Technologies, Incorporated and Bubba Blade Branded Products from Fish Tales, LLC
Business Acquisition [Line Items]
Payments to acquire business, net of cash acquired	$ 23,100,000
Number of transactions for acquisition \| Transaction	2				2
Gemini Technologies, Incorporated
Business Acquisition [Line Items]
Contingent consideration maximum payout	$ 17,100,000
Business combination, contingent consideration payable performance period	3 years
Business combination contingent consideration liability non-current			$ 100,000

Acquisitions - Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018
Business Acquisition [Line Items]
Goodwill	$ 182,101	$ 191,821	$ 191,203	$ 191,287
Gemini Technologies, Incorporated and Bubba Blade Branded Products from Fish Tales, LLC
Business Acquisition [Line Items]
Accounts receivable	760
Inventories	4,082
Other current assets	89
Property, plant, and equipment	519
Intangibles	6,400
Goodwill	12,554
Total assets acquired	24,404
Accounts payable	1,236
Accrued payroll	48
Total liabilities assumed	1,284
Net assets acquired	23,120
Gemini Technologies, Incorporated and Bubba Blade Branded Products from Fish Tales, LLC \| As Initially Reported
Business Acquisition [Line Items]
Accounts receivable	846
Inventories	4,683
Other current assets	145
Property, plant, and equipment	506
Intangibles	6,400
Goodwill	11,846
Total assets acquired	24,426
Accounts payable	1,261
Accrued payroll	49
Other long-term liabilities	100
Total liabilities assumed	1,410
Net assets acquired	23,016
Gemini Technologies, Incorporated and Bubba Blade Branded Products from Fish Tales, LLC \| Measurement Period Adjustments
Business Acquisition [Line Items]
Accounts receivable	(86)
Inventories	(601)
Other current assets	(56)
Property, plant, and equipment	13
Goodwill	708
Total assets acquired	(22)
Accounts payable	(25)
Accrued payroll	(1)
Other long-term liabilities	(100)
Total liabilities assumed	(126)
Net assets acquired	$ 104

Acquisitions - Identifiable Intangible Assets Acquired and Respective Weighted Average Lives (Detail) - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2019	Apr. 30, 2018
Acquired Finite Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 173,147	$ 172,213
Weighted Average Life (In years)	5 years
Developed technology
Acquired Finite Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 21,230	21,130
Weighted Average Life (In years)	6 years
Customer relationships
Acquired Finite Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 92,560	$ 92,360
Weighted Average Life (In years)	5 years
Gemini Technologies, Incorporated and Bubba Blade Branded Products from Fish Tales, LLC
Acquired Finite Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 6,400
Gemini Technologies, Incorporated and Bubba Blade Branded Products from Fish Tales, LLC \| Developed technology
Acquired Finite Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 1,700
Weighted Average Life (In years)	5 years 10 months 24 days
Gemini Technologies, Incorporated and Bubba Blade Branded Products from Fish Tales, LLC \| Customer relationships
Acquired Finite Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 1,600
Weighted Average Life (In years)	5 years 2 months 12 days
Gemini Technologies, Incorporated and Bubba Blade Branded Products from Fish Tales, LLC \| Trade names
Acquired Finite Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 3,100
Weighted Average Life (In years)	5 years 7 months 6 days

Goodwill and Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Jan. 31, 2019
Goodwill [Line Items]
Beginning Balance	$ 191,821	$ 191,203	$ 191,287	$ 191,287
Adjustments		618	(84)
Acquisitions	676
Goodwill impairment	(10,396)			(10,396)
Ending Balance	182,101	191,821	191,203	182,101
Firearms Segment
Goodwill [Line Items]
Beginning Balance	19,024	18,406	18,490	18,490
Adjustments		618	(84)
Ending Balance	19,024	19,024	18,406	19,024
Outdoor Products & Accessories Segment
Goodwill [Line Items]
Beginning Balance	172,797	172,797	172,797	172,797
Acquisitions	676
Goodwill impairment	(10,396)
Ending Balance	$ 163,077	$ 172,797	$ 172,797	$ 163,077

Goodwill and Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Jan. 31, 2019	Apr. 30, 2018
Finite-Lived Intangible Assets [Line Items]
Total definite-lived intangible assets, Gross Carrying Amount	$ 173,147	$ 172,213
Total definite-lived intangible assets, Accumulated Amortization	(76,165)	(59,679)
Total definite-lived intangible assets, Net Carrying Amount	96,982	112,534
Indefinite-lived intangible assets, Net Carrying Amount	226	226
Total Intangible assets, Gross Carrying Amount	173,373	172,439
Total Intangible assets, Net Carrying Amount	97,208	112,760
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Total definite-lived intangible assets, Gross Carrying Amount	92,560	92,360
Total definite-lived intangible assets, Accumulated Amortization	(35,903)	(28,252)
Total definite-lived intangible assets, Net Carrying Amount	56,657	64,108
Developed technology
Finite-Lived Intangible Assets [Line Items]
Total definite-lived intangible assets, Gross Carrying Amount	21,230	21,130
Total definite-lived intangible assets, Accumulated Amortization	(12,192)	(8,178)
Total definite-lived intangible assets, Net Carrying Amount	9,038	12,952
Patents, trademarks, and trade names
Finite-Lived Intangible Assets [Line Items]
Total definite-lived intangible assets, Gross Carrying Amount	57,425	56,718
Total definite-lived intangible assets, Accumulated Amortization	(26,920)	(22,099)
Total definite-lived intangible assets, Net Carrying Amount	30,505	34,619
Backlog
Finite-Lived Intangible Assets [Line Items]
Total definite-lived intangible assets, Gross Carrying Amount	1,150	1,150
Total definite-lived intangible assets, Accumulated Amortization	(1,150)	(1,150)
Definite-lived intangible assets excluding patents in progress
Finite-Lived Intangible Assets [Line Items]
Total definite-lived intangible assets, Gross Carrying Amount	172,365	171,358
Total definite-lived intangible assets, Accumulated Amortization	(76,165)	(59,679)
Total definite-lived intangible assets, Net Carrying Amount	96,200	111,679
Patents in progress
Finite-Lived Intangible Assets [Line Items]
Total definite-lived intangible assets, Gross Carrying Amount	782	855
Total definite-lived intangible assets, Net Carrying Amount	$ 782	$ 855

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2019	Jan. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Amortization expense of intangible assets	$ 5.5	$ 5.4	$ 16.5	$ 15.4
Weighted-average period for amortization of intangible assets			5 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-average period for amortization of intangible assets			5 years
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted-average period for amortization of intangible assets			6 years
Patents, trademarks, and trade names
Finite-Lived Intangible Assets [Line Items]
Weighted-average period for amortization of intangible assets			5 years

Goodwill and Intangible Assets - Schedule of Future Expected Amortization Expense (Detail) - USD ($) $ in Thousands	Jan. 31, 2019	Apr. 30, 2018
Finite-Lived Intangible Assets [Line Items]
Total definite-lived intangible assets, Net Carrying Amount	$ 96,982	$ 112,534
Outdoor Products & Accessories Segment
Finite-Lived Intangible Assets [Line Items]
2019	5,527
2020	19,204
2021	16,590
2022	14,204
2023	11,835
Thereafter	28,840
Total definite-lived intangible assets, Net Carrying Amount	$ 96,200

Notes, Loans Payable, and Financing Arrangements - Additional Information (Detail) - USD ($)		9 Months Ended	12 Months Ended
	Mar. 08, 2018	Jan. 31, 2019	Apr. 30, 2018	Feb. 28, 2018	Apr. 30, 2017	Oct. 27, 2016	Jul. 06, 2015	Jun. 18, 2015	Jun. 15, 2015	Apr. 30, 2015
Debt Instrument [Line Items]
Interest description of revolving line of credit		The Revolving Line provides for availability for general corporate purposes, with borrowings to bear interest at a variable rate equal to LIBOR or prime plus an applicable margin based on our consolidated leverage ratio, at our election.
Credit facility, maturity		Jun. 15, 2020
Percentage of interest rate protection on term loan									75.00%
Fair value of the interest rate swap asset		$ 1,100,000
Maximum
Debt Instrument [Line Items]
Senior notes indenture, number of shares allowed for repurchase					$ 50,000,000
Interest Rate Swap
Debt Instrument [Line Items]
Percentage of floating rate debt covered								100.00%
Derivative, notional amount								$ 105,000,000
Derivative, maturity date		Jun. 15, 2020
Derivative, fixed interest rate							1.56%
Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, borrowing capacity									$ 175,000,000
Credit Facilities
Debt Instrument [Line Items]
Borrowings outstanding		$ 25,000,000
Outstanding letters of credit		$ 1,000,000
Credit Facilities \| LIBOR Rate
Debt Instrument [Line Items]
Interest rate on borrowings		4.51%
Term Loan
Debt Instrument [Line Items]
Outstanding debt		$ 82,900,000							$ 105,000,000
Principal payments per annum		$ 6,300,000
Debt instrument, interest rate, effective percentage		4.46%
5.000% Senior Notes due 2018
Debt Instrument [Line Items]
Debt issuance cost										$ 2,300,000
Notes issued										$ 75,000,000
Debt instrument, interest rate										5.00%
Debt instrument, redemption date	Mar. 08, 2018
Debt issuance write-off costs			$ 226,000
5.000% Senior Notes due 2020
Debt Instrument [Line Items]
Debt issuance cost				$ 158,000
Notes issued				$ 75,000,000
Debt instrument, interest rate				5.00%
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 2020 Senior Notes at a redemption price of 102.500% of the principal amount of the 2020 Senior Notes to be redeemed plus accrued and unpaid interest as of the applicable redemption date. On or after February 28, 2019, we may, at our option, upon not less than 30 nor more than 60 days’ prior notice, redeem all or a portion of the 2020 Senior Notes at a redemption price of 100.000% of the principal amount of the 2020 Senior Notes to be redeemed plus accrued and unpaid interest as of the applicable redemption date.
Debt instrument maturity date		Aug. 28, 2020
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%
Maximum consolidated coverage ratio		300.00%
Minimum consolidated coverage ratio		100.00%
5.000% Senior Notes due 2020 \| Debt Instrument Redemption Scenario One
Debt Instrument [Line Items]
Redemption price of senior notes		102.50%
5.000% Senior Notes due 2020 \| Debt Instrument Redemption Scenario Two
Debt Instrument [Line Items]
Redemption price of senior notes		100.00%
5.000% Senior Notes due 2020 \| Minimum
Debt Instrument [Line Items]
Senior notes indenture, number of shares allowed for repurchase		$ 50,000,000
5.000% Senior Notes due 2020 \| Minimum \| Debt Instrument Redemption Scenario One
Debt Instrument [Line Items]
Notice period of senior notes		30 days
5.000% Senior Notes due 2020 \| Minimum \| Debt Instrument Redemption Scenario Two
Debt Instrument [Line Items]
Notice period of senior notes		30 days
5.000% Senior Notes due 2020 \| Maximum
Debt Instrument [Line Items]
Senior notes indenture, number of shares allowed for repurchase		$ 75,000,000
5.000% Senior Notes due 2020 \| Maximum \| Debt Instrument Redemption Scenario One
Debt Instrument [Line Items]
Notice period of senior notes		60 days
5.000% Senior Notes due 2020 \| Maximum \| Debt Instrument Redemption Scenario Two
Debt Instrument [Line Items]
Notice period of senior notes		60 days
Second Amendment \| Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, borrowing capacity						$ 350,000,000
Credit facility additional borrowing capacity option to increase maximum borrowing capacity						150,000,000
Credit facility, maturity		Oct. 27, 2021
Debt issuance cost						$ 525,000

Fair Value Measurement - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended		12 Months Ended
	Aug. 31, 2017	Jan. 31, 2019	Jan. 31, 2019	Jan. 31, 2018	Apr. 30, 2018	Apr. 30, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Reduction in fair value of contingent consideration liability			$ 60,000	$ 1,300,000
Ultimate Survival Technologies, Inc.
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration payable upon financial performance of acquired business						$ 1,700,000
Business combination, contingent consideration payable performance period						2 years
Reduction in fair value of contingent consideration liability		$ 60,000			$ 1,600,000
Ultimate Survival Technologies, Inc. \| Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration payable upon financial performance of acquired business						$ 2,000,000
Gemini Technologies, Incorporated
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business combination, contingent consideration payable performance period	3 years
Contingent consideration maximum payout	$ 17,100,000
Business combination contingent consideration liability non-current		100,000	100,000
(Level 1) \| Fair Value on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents		$ 37,500,000	$ 37,500,000		$ 48,900,000

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jan. 31, 2019	Apr. 30, 2018
Inventory Disclosure [Abstract]
Finished goods	$ 115,679	$ 91,480
Finished parts	37,112	42,075
Work in process	7,263	7,657
Raw material	13,461	12,141
Total inventories	$ 173,515	$ 153,353

Stockholders' Equity - Additional Information (Detail)	3 Months Ended		9 Months Ended
Stockholders' Equity - Additional Information (Detail)	Jan. 31, 2019 USD ($) shares	Jan. 31, 2018 USD ($)	Jan. 31, 2019 USD ($) OptionPlan shares	Jan. 31, 2018 USD ($) shares	Apr. 30, 2017 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common stock			0
Number of incentive stock option plans \| OptionPlan			2
Intrinsic value of stock outstanding \| $	$ 1,500,000	$ 1,800,000	$ 1,500,000	$ 1,800,000
Intrinsic value of stock exercisable \| $	$ 1,500,000	1,800,000	$ 1,500,000	$ 1,800,000
Stock options exercised	0		32,899	4,000
Intrinsic value of stock exercised \| $		$ 28,600	$ 230,000	$ 23,600
Unrecognized compensation expense of outstanding stock options \| $	$ 0		$ 0
Shares issued under employee stock (in shares)			107,525	81,643
Stock-based compensation expense \| $			$ 6,100,000	$ 5,800,000
Performance period			3 years
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded			192,085	232,672
Grant date fair value of vested RSUs and PSUs \| $			$ 2,400,000
Stock units, forfeited			25,453	230,441
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded				105,500
Stock units, forfeited			112,000
Share based payment award percentage of award achieved				115.20%
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense \| $			$ 5,800,000	$ 5,200,000
Stock units, awarded			192,085	248,676
Grant date fair value of vested RSUs and PSUs \| $				$ 6,200,000
Stock units, forfeited			137,453	230,441
Stock units, vested			195,808	298,727
Unrecognized compensation expense related to unvested RSUs and PSUs \| $	$ 6,500,000		$ 6,500,000
Weighted average remaining contractual term			1 year 3 months 18 days
Non-Executive Employees \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded			142,576	189,360
Director \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, awarded			49,509	43,312
Executive Officer \| PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units, vested				121,504
2013 Incentive Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option, exercisable period			10 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase authorization \| $					$ 50,000,000
Maximum \| 2013 Incentive Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period to award vested and calculate volatility rate			4 years
Minimum \| 2013 Incentive Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period to award vested and calculate volatility rate			3 years

Stockholders' Equity - Reconciliation of Net Income Amounts and Weighted Average Number of Common and Common Equivalent Shares Used to Determine Basic and Diluted Earnings per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2019	Jan. 31, 2018
Earnings Per Share [Abstract]
Net income	$ (5,725)	$ 11,395	$ 8,586	$ 12,464
Basic earnings, Shares	54,544	54,122	54,444	54,024
Effect of dilutive stock awards, Shares		535	688	806
Diluted earnings, Shares	54,544	54,657	55,132	54,830
Basic earnings, Per Share Amount	$ (0.10)	$ 0.21	$ 0.16	$ 0.23
Diluted earnings, Per Share Amount	$ (0.10)	$ 0.21	$ 0.16	$ 0.23

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Stockholders' Equity - Share Based Compensation Stock Options Activity (Detail) - $ / shares	3 Months Ended	9 Months Ended
	Jan. 31, 2019	Jan. 31, 2019	Jan. 31, 2018
Shares
Options outstanding, beginning of year, Shares		316,160	335,160
Exercised during the period, Shares	0	(32,899)	(4,000)
Options outstanding, end of period, Shares	283,261	283,261	331,160
Weighted average remaining contractual life		2 years 5 months 26 days	3 years 3 months 10 days
Options exercisable, end of period, Shares	283,261	283,261	331,160
Weighted average remaining contractual life		2 years 5 months 26 days	3 years 3 months 10 days
Weighted-Average Exercise Price
Options outstanding, beginning of year, Weighted-Average Exercise Price		$ 6.69	$ 6.58
Exercised during period, Weighted-Average Exercise Price		6.52	5.69
Options outstanding, end of period, Weighted-Average Exercise Price	$ 6.71	6.71	6.59
Options exercisable, end of period, Weighted-Average Exercise Price	$ 6.71	$ 6.71	$ 6.59

Stockholders' Equity - Summary of Activity for Unvested RSUs and PSUs (Detail) - RSUs and PSUs - $ / shares	9 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
Summary of activity in unvested restricted stock units and performance share units
Restricted Stock Units, RSUs and PSUs outstanding, beginning of period	1,442,316	1,428,848
Restricted Stock Units, Awarded	192,085	248,676
Restricted Stock Units, Vested	(195,808)	(298,727)
Restricted Stock Units, Forfeited	(137,453)	(230,441)
Restricted Stock Units, RSUs and PSUs outstanding, end of period	1,301,140	1,148,356
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 period	$ 17.80	$ 18.46
Weighted Average Grant Date Fair Value, Awarded	12.61	20.84
Weighted Average Grant Date Fair Value, Vested	19.54	16.51
Weighted Average Grant Date Fair Value, Forfeited	16.05	16.65
Weighted Average Grant Date Fair Value, RSUs and PSUs outstanding, end of period	$ 16.99	$ 19.77

Income Taxes - Additional Information (Detail) - USD ($)		3 Months Ended		8 Months Ended	9 Months Ended		12 Months Ended		13 Months Ended
	Dec. 22, 2017	Jan. 31, 2019	Jan. 31, 2018	Dec. 31, 2017	Jan. 31, 2019	Jan. 31, 2018	Apr. 30, 2019	Apr. 30, 2018	Jan. 31, 2019
Income Tax Contingency [Line Items]
U.S federal income tax rate				35.00%					21.00%
Tax reform, accounting complete	false
Income tax benefit by effect of tax reform								$ 8,700,000
Deferred tax assets and liabilities enacted corporate federal tax rates, cash								$ 0
Effective income tax rate, provisions (benefit)		(26.30%)	(288.90%)		46.30%	(240.50%)
Scenario, Forecast
Income Tax Contingency [Line Items]
U.S federal income tax rate							21.00%

Commitments and Contingencies - Additional Information (Detail)	1 Months Ended	3 Months Ended	9 Months Ended
	Jan. 31, 2018 USD ($)	Jan. 31, 2019 USD ($) Installment	Jan. 31, 2019 USD ($) Case Claim Installment	Jul. 31, 2019 USD ($)	Aug. 31, 2018 USD ($)	Apr. 30, 2018 USD ($) ft²
Schedule Of Commitments And Contingencies [Line Items]
Number of Product liability cases \| Case			6
Number of Other product liability claims \| Claim			7
Short-term capital lease		$ 660,000	$ 660,000
Long-term capital lease		45,580,000	45,580,000			$ 22,143,000
Boone County, Missouri \| Ultimate Survival Technologies, Inc.
Schedule Of Commitments And Contingencies [Line Items]
Transition costs			741,000
Logistics Facility \| Boone County, Missouri
Schedule Of Commitments And Contingencies [Line Items]
Area of leased property \| ft²						633,000
Capital lease agreement, building cost		$ 46,200,000	46,200,000
Capital lease effective interest rate		5.00%
Short-term capital lease		$ 615,000	615,000
Long-term capital lease		$ 45,600,000	$ 45,600,000
Capital leases number of monthly installments \| Installment		240	240
Capital leases expiration period		2039
Accounting Standards Update 2016-02 \| Scenario, Forecast
Schedule Of Commitments And Contingencies [Line Items]
Lease liability				$ 40,800,000
Right of use asset				$ 41,600,000
Minimum
Schedule Of Commitments And Contingencies [Line Items]
Compensatory damages sought			$ 75,000
Minimum \| Boone County, Missouri \| Ultimate Survival Technologies, Inc.
Schedule Of Commitments And Contingencies [Line Items]
Expected restructuring charges					$ 1,500,000
Minimum \| Logistics Facility \| Boone County, Missouri
Schedule Of Commitments And Contingencies [Line Items]
Percentage of net present value of future lease payments exceeding fair market value		90.00%
Maximum
Schedule Of Commitments And Contingencies [Line Items]
Compensatory damages sought			$ 350,000
Maximum \| Boone County, Missouri \| Ultimate Survival Technologies, Inc.
Schedule Of Commitments And Contingencies [Line Items]
Expected restructuring charges					$ 2,500,000
Gemini Technologies, Incorporated \| Smith & Wesson Corp
Schedule Of Commitments And Contingencies [Line Items]
Compensatory damages sought	$ 18,600,000

Commitments and Contingencies - Summary of Future Minimum Lease Payments Including All Our Capital Leases (Detail) - USD ($) $ in Thousands	Jan. 31, 2019	Apr. 30, 2018
Commitments And Contingencies Disclosure [Abstract]
Capital Lease Obligation, 2019	$ 804
Capital Lease Obligation, 2020	2,965
Capital Lease Obligation, 2021	3,016
Capital Lease Obligation, 2022	3,056
Capital Lease Obligation, 2023	3,072
Capital Lease Obligation, Thereafter	66,320
Capital Lease Obligation, Total future minimum lease payments	79,233
Capital Lease Obligation, Less amounts representing interest	(32,993)
Capital Lease Obligation, Present value of minimum lease payments	46,240
Capital Lease Obligation, Less current maturities of capital lease	(660)
Capital Lease Obligation, Long-term maturities of capital lease	$ 45,580	$ 22,143

Segment Reporting - Additional Information (Detail)	9 Months Ended
Segment Reporting - Additional Information (Detail)	Jan. 31, 2019 Segment
Segment Reporting Information [Line Items]
Number of reportable segments	2
Firearms Segment
Segment Reporting Information [Line Items]
Number of reportable segments	1
Outdoor Products & Accessories Segment
Segment Reporting Information [Line Items]
Number of reportable segments	1

Segment Reporting - Schedule of Assets by Business Segment (Detail) - USD ($) $ in Thousands	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018
Segment Reporting Information [Line Items]
Total assets	$ 772,838			$ 745,060
Property, plant, and equipment, net	185,599			159,125
Intangibles, net	97,208			112,760
Goodwill	182,101	$ 191,821	$ 191,203	191,287
Firearms Segment
Segment Reporting Information [Line Items]
Total assets	388,395			346,517
Property, plant, and equipment, net	172,517			146,154
Intangibles, net	4,746			4,944
Goodwill	19,024	19,024	18,406	18,490
Outdoor Products & Accessories Segment
Segment Reporting Information [Line Items]
Total assets	384,443			398,543
Property, plant, and equipment, net	13,082			12,971
Intangibles, net	92,462			107,816
Goodwill	$ 163,077	$ 172,797	$ 172,797	$ 172,797

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

3 Months Ended

9 Months Ended

Jan. 31, 2019

Jan. 31, 2018

Jan. 31, 2019

Jan. 31, 2018

^[1]

$ 162,008

$ 157,376

$ 462,544

$ 434,825

^[1]

107,949

110,459

299,677

296,477

^[1]

54,059

46,917

162,867

138,348

^[1]

(2,033)

5,842

22,769

10,632

^[1]

1,191

(8,465)

7,399

(8,803)

Firearms Segment

Outdoor Products & Accessories Segment

^[1]

123,045

116,882

338,513

315,545

Intersegment Eliminations

^[1]

38,963

40,494

124,031

119,280

^[1]

(3,526)

(4,992)

(13,212)

(11,726)

^[1]

(3,877)

(4,491)

(13,436)

(10,210)

^[1]

351

(501)

224

(1,516)

Intersegment Eliminations | Firearms Segment

^[1]

13,131

7,697

37,232

34,377

Intersegment Eliminations | Outdoor Products & Accessories Segment

^[1]

578

762

2,125

2,955

^[1]

2,948

4,230

11,087

8,771

Operating Segments

Operating Segments | Firearms Segment

^[1]

162,008

157,376

462,544

434,825

^[1]

123,623

117,644

340,638

318,500

^[1]

89,262

91,301

239,639

236,224

^[1]

34,361

26,343

100,999

82,276

^[1]

9,792

7,604

34,255

10,536

Operating Segments | Outdoor Products & Accessories Segment

^[1]

2,461

14,519

9,295

20,581

^[1]

41,911

44,724

135,118

128,051

^[1]

22,564

23,649

73,474

70,463

^[1]

19,347

21,075

61,644

57,588

^[1]

(13,529)

^[2]

1,058

(15,550)

^[2]

(1,251)

^[1]

(459)

(7,421)

(466)

(7,988)

Corporate

^[1]

(11,427)

(10,517)

(33,168)

(33,030)