Quarterly Results

12 Months Ended

Apr. 30, 2012

15.

Quarterly Results (Unaudited)

The following table sets forth certain unaudited consolidated statement of income data for the quarters in fiscal 2012 and 2011. The unaudited quarterly information has been prepared on the same basis as the annual financial statements and, in management’s opinion, includes all adjustments necessary to present fairly the information for the quarters presented.


	Quarters Ended
	Fiscal 2012								Fiscal 2011
	April 30		January 31		October 31		July 31		April 30		January 31		October 31		July 31
	(in thousands, except per share data)
Fee revenue	$	198,087	$	185,951	$	200,136	$	206,331	$	197,298	$	186,489	$	185,350	$	175,112
Operating income	$	15,352	$	16,165	$	25,407	$	25,942	$	26,246	$	20,492	$	19,775	$	19,272
Net income	$	12,028	$	11,717	$	15,147	$	15,411	$	20,339	$	13,975	$	13,656	$	10,904
Net income per share:
Basic	$	0.26	$	0.25	$	0.33	$	0.34	$	0.45	$	0.31	$	0.30	$	0.24
Diluted	$	0.25	$	0.25	$	0.32	$	0.33	$	0.43	$	0.30	$	0.30	$	0.24

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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