Revenue Recognition
The Company disaggregates revenue from contracts with customers into major sales distribution channels as these categories depict the nature, amount, timing, and uncertainty of revenues and cash flows that are affected by economic factors. The following table disaggregates our consolidated revenue by major sales distribution channels for the years ended April 30, 2025, 2024, and 2023:
FISCAL YEARS ENDED APRIL 30,
(in thousands)202520242023
Home center retailers$697,064 $768,614 $892,721 
Builders743,087 783,199 848,302 
Independent dealers and distributors269,434 295,689 325,177 
Net Sales$1,709,585 $1,847,502 $2,066,200 

Historical Timeline

Fiscal YearFiled
2025Jun 25, 2025Showing above
2024Jun 26, 2024
2023Jun 27, 2023
2022Jun 29, 2022
2020Jun 29, 2020

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.