Accounts Payable, Net and Accrued Expenses

9 Months Ended

Jan. 31, 2012

Payables and Accruals [Abstract]

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

(7)          Accounts Payable, Net and Accrued Expenses

Accounts payable, net and accrued expenses consist of the following (in thousands):

	January 31,  2012		April 30, 2011
Publisher payables, net	$	54,734	$	60,425
Accrued expenses		2,885		3,486
Trade payables		1,532		2,608
Other		4,964		4,357
	$	64,115	$	70,876

Newsstand Distribution Services accounts payable are net of estimated magazine returns of $53,592,000 and $46,643,000 at January 31, 2012 and April 30, 2011.  Pursuant to an arrangement with a publisher customer of the Newsstand Distribution Services business, the Company has netted

$17,375,000 and $16,574,000 of accounts receivable against the related accounts payable at January 31, 2012 and April 30, 2011 (see Note 2).