Earnings (Loss) Per Share

3 Months Ended

Jul. 31, 2012

Earnings (Loss) Per Share [Abstract]

Earnings (Loss) Per Share

12.Earnings (Loss) Per Share

Basic earnings (loss) per share is computed by dividing net earnings (loss) less dividends payable on preferred stock by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings (loss) per share is computed similar to basic earnings (loss) per share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock.For the three months ended July 31, 2011, because of our net loss available to shareholders, potentially dilutive securities were excluded from the per share computations due to their anti-dilutive effect.

(in thousands, except per share amounts)		Three Months Ended
		July 31,
		2012		2011
Net income (loss)	$	157	$	(1,778)
Dividends paid and payable on preferred stock		(101)		(34)
Net income (loss) available to common stockholders	$	56	$	(1,812)
Weighted-average shares of common stock outstanding, basic		14,718		14,601
Effect of dilutive securities		-		-
Weighted-average shares of common stock outstanding, diluted		14,718		14,601
Income (loss) per share of common stock:
Basic	$	0.00	$	(0.12)
Diluted	$	0.00	$	(0.12)

The dilutive securities above represent only those stock options, warrants, convertible debt, and preferred stock whose exercise prices were less than the average market price of the stock during the respective periods and therefore were dilutive. Potentially dilutive securities that are not included in the diluted net income calculation because they would be antidilutive are employee stock options of 2,718,084 and common stock warrants of 1,344,986 for the three months ended July 31, 2012.Potentially dilutive securities that are not included in the diluted net loss calculation because they would be antidilutive are employee stock options of 2,787,768 and common stock warrants of 1,344,986 for the three months ended July 31, 2011.Potentially dilutive securities that are not included in the diluted net income (loss) calculation because they would be antidilutive are 1,666,667 shares of convertible preferred stock for the three months ended July 31, 2012 and 2011.