Income Taxes	3 Months Ended
Jul. 31, 2014
Income Taxes [Abstract]
Income Taxes	Income Taxes The Company uses the asset and liability method for financial reporting of income taxes. Deferred tax assets and liabilities are determined based on temporary differences between financial reporting and the tax basis of assets and liabilities, and are measured by applying enacted rates and laws to taxable years in which such differences are expected to be recovered or settled. Any changes in tax rates or laws are recognized in the period when such changes are enacted. Valuation allowances have been established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company records a valuation allowance to reduce its deferred tax assets when uncertainty exists regarding the realizability of the deferred tax assets. The provision for income taxes was $6,000 for the three months ended July 31, 2014, compared to $452,000 in the same period in 2013. The effective rate was 8.09% for 2014, compared to 40.3% for 2013. The significant variance was due to reversal of a portion of the valuation allowance and recording of a deferred tax asset in 2013.

Income Taxes

3 Months Ended

Jul. 31, 2014

The Company uses the asset and liability method for financial reporting of income taxes. Deferred tax assets and liabilities are determined based on temporary differences between financial reporting and the tax basis of assets and liabilities, and are measured by applying enacted rates and laws to taxable years in which such differences are expected to be recovered or settled. Any changes in tax rates or laws are recognized in the period when such changes are enacted. Valuation allowances have been established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company records a valuation allowance to reduce its deferred tax assets when uncertainty exists regarding the realizability of the deferred tax assets.

The provision for income taxes was $6,000 for the three months ended July 31, 2014, compared to $452,000 in the same period in 2013. The effective rate was 8.09% for 2014, compared to 40.3% for 2013. The significant variance was due to reversal of a portion of the valuation allowance and recording of a deferred tax asset in 2013.