Property and Equipment

12 Months Ended

Apr. 30, 2012

Note 4. Property and Equipment

Property and equipment at April 30, 2012 and 2011 consisted of the following (in thousands):


		2012		2011
Equipment	$	6,457	$	4,946
Furniture and leasehold improvements		1,207		1,181
		7,664		6,127
Less accumulated depreciation		(4,837)		(3,887)
Property and equipment, net	$	2,827	$	2,240

Depreciation expense for fiscal 2012, 2011, and 2010 was $1,086,000, $830,000, and $235,000, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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