FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Jul. 31, 2012

Costs, Gross Unrealized Gains, Gross Unrealized Losses and Fair Market Value of Available-For-Sale Securities

The cost, gross unrealized gains, gross unrealized losses and fair market value of available-for-sale securities at July 31, 2012 and April 30, 2012 are as follows (in thousands):

	July 31, 2012
			Gross		Gross			Fair
			Unrealized		Unrealized			Market
	Cost		Gains		Losses			Value
Fixed income securities	$	10,210	$	308	$	(2	)	$	10,516
Equity securities		5,467		781		(86	)		6,162
	$	15,677	$	1,089	$	(88	)	$	16,678

	April 30, 2012
			Gross		Gross			Fair
			Unrealized		Unrealized			Market
	Cost		Gains		Losses			Value
Fixed income securities	$	11,573	$	297	$	(6	)	$	11,864
Equity securities		5,411		552		(169	)		5,794
	$	16,984	$	849	$	(175	)	$	17,658

Fair Value and Unrealized Losses, Aggregated by Investment Type and Length of Time Individual Securities have been in Continuous Unrealized Loss Position

The following table presents the fair value and unrealized losses, aggregated by investment type and length of time that individual securities have been in a continuous unrealized loss position (in thousands):

	Less than 12 months					12 Months or more					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses
July 31, 2012
Fixed Income Securities	$	100	$	(2	)	$	-	$	-		$	100	$	(2	)
Equity Securities		366		(84	)		128		(2	)		494		(86	)
	$	466	$	(86	)	$	128	$	(2	)	$	594	$	(88	)
April 30, 2012
Fixed Income Securities	$	301	$	(6	)	$	-	$	-		$	301	$	(6	)
Equity Securities		539		(169	)		-		-			539		(169	)
	$	840	$	(175	)	$	-	$	-		$	840	$	(175	)

Maturities of Fixed Income Securities Classified as Available-for-Sale

Maturities of fixed income securities classified as available-for-sale at July 31, 2012 are as follows, at cost (in thousands):

Current	$	1,005
Due after one year through five years		8,542
Due after five years through ten years		663
	$	10,210