DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Jan. 31, 2013

Discontinued Operations

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement

A summary of the operating results for the discontinued operations is as follows:

	Three Months Ended						Nine Months Ended
	January 31,						January 31,
	2013			2012			2013			2012
REVENUE	$	-		$	7,369,878		$	4,901,501		$	21,384,280
COSTS AND EXPENSES:
Cost of revenue		-			5,195,158			4,088,400			15,945,789
Selling, general and administrative expenses		-			1,686,762			1,291,164			5,235,987
Depreciation and amortization		-			124,822			101,750			424,330
		-			7,006,742			5,481,314			21,606,106
OPERATING INCOME (LOSS) FROM DISCONTINUED OPERATIONS		-			363,136			(579,813	)		(221,826	)
Interest expense		-			8,699			5,315			14,075
Income (loss) from discontinued operations before income tax (benefit) provision		-			354,437			(585,128	)		(235,901	)
Income tax (benefit) provision		(31,913	)		1,954,051			110,518			1,837,728
Income (loss) from discontinued operations, net of tax		31,913			(1,599,614	)		(695,646	)		(2,073,629	)
Gain (loss) from disposal		(12,880	)		-			1,826,539			(1,027,637	)
TOTAL INCOME (LOSS) FROM DISCONTINUED OPERATIONS	$	19,033		$	(1,599,614	)	$	1,130,893		$	(3,101,266	)

Schedule of Disposal Groups, Including Discontinued Operations, Balance Sheet

The major classes of assets and liabilities included in the condensed consolidated balance sheets at April 30, 2012 for the Hartford and Lakewood Operations as discontinued operations were as follows:

	April 30, 2012
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	2,432
Accounts receivable, net of allowance of $134,929 at April 30, 2012		5,837,341
Costs and estimated earnings in excess of billings on uncompleted contracts		183,760
Inventory		1,416,773
Prepaid expenses and other current assets		82,971
Prepaid income taxes		47,920
Total current assets		7,571,197
PROPERTY AND EQUIPMENT, net		1,013,377
OTHER ASSETS		51,478
Total assets		8,636,052
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Current portion of loans payable		99,002
Income taxes payable		2,000
Accounts payable and accrued expenses		4,754,099
Billings in excess of costs and estimated earnings on uncompleted contracts		33,103
Deferred revenue		498,934
Total current liabilities		5,387,138
Loans payable, net of current portion		172,222
Total liabilities		5,559,360
Total net assets	$	3,076,692