Note 6 - Comprehensive Income

3 Months Ended

Jul. 31, 2016

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

Note 6 - Comprehensive Income:

The FASB's ASC Comprehensive Income topic requires the reporting of comprehensive income in addition to net income from operations. Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that otherwise would not be recognized in the calculation of net income.

Beginning in fiscal 2013, the Company adopted the provisions of Accounting Standards Update 2011-05 to reflect comprehensive income in two statements which include the components of net income and total net income in the first statement, immediately followed by a financial statement that presents the components of other comprehensive income, a total for other comprehensive income and a total for comprehensive income.

As of July 31, 2016 and July 31, 2015, the Company held equity securities consisting primarily of ETFs with high relative dividend yields that are classified as securities available-for-sale on the Consolidated Condensed Balance Sheets. The change in valuation of these securities, net of deferred income taxes, has been recorded in accumulated other comprehensive income in the Company's Consolidated Condensed Balance Sheets.

The components of comprehensive income included in the Consolidated Condensed Statements of Income and Changes in Shareholders' Equity for the three months ended July 31, 2016 are as follows:

($ in thousands)	Amount Before Tax		Tax Benefit			Amount Net of Tax
Change in unrealized gains on securities	$	238	$	(84	)	$	154
	$	238	$	(84	)	$	154

The components of comprehensive income included in the Consolidated Condensed Statements of Income and Changes in Shareholders' Equity for the three months ended July 31, 2015 are as follows:

($ in thousands)	Amount Before Tax			Tax Provision		Amount Net of Tax
Change in unrealized gains on securities	$	(142	)	$	50	$	(92	)
	$	(142	)	$	50	$	(92	)