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NOTE E - INVENTORIES

3 Months Ended

Jul. 31, 2013

NOTE E – INVENTORIES

Inventories, which are reported at the lower of cost or market, consist of the following:

	July 31, 2013		April 30, 2013
	(In thousands)

Raw Materials and Component Parts	$	22,724	$	21,066
Work in Progress		13,379		13,665
Finished Goods		3,118		2,790
	$	39,221	$	37,521

As of July 31, 2013 and April 30, 2013, approximately $31.5 million and $29.9 million, respectively, of total inventory is located in the United States, approximately $7.0 million and $6.9 million, respectively, is located in Belgium and $0.7 million and $0.7 million, respectively, is located in China.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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