Earnings (Loss) Per Share

12 Months Ended

Apr. 30, 2013

Earnings (Loss) Per Share [Abstract]

Earnings (Loss) Per Share

Note 14. Earnings (Loss) per Share

Basic earnings (loss) per share is computed by dividing net income (loss) less dividends paid and 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 fiscal 2012 and 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)		Year Ended April 30,
		2013		2012		2011
Net income (loss)	$	532	$	(16,662)	$	(16,665)
Dividends paid and payable on preferred stock		(400)		(334)		-
Net income (loss) available to common stockholders	$	132	$	(16,996)	$	(16,665)
Weighted-average shares of common stock outstanding, basic		14,718		14,672		13,552
Effect of dilutive securities		10		-		-
Weighted-average shares of common stock outstanding, diluted		14,728		14,672		13,552
Income (loss) per share of common stock:
Basic	$	0.01	$	(1.16)	$	(1.23)
Diluted	$	0.01	$	(1.16)	$	(1.23)

The dilutive securities above represent only those stock options, warrants, 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 2,523,477 and common stock warrants of 909,042 for the year ended April 30, 2013.  Potentially dilutive securities that are not included in the diluted net loss calculation because they would be antidilutive are employee stock options of 2,632,115 and common stock warrants of 1,344,986 for the year ended April 30, 2012.  Potentially dilutive securities that are not included in the diluted net loss calculation because they would be antidilutive are employee stock options of 2,152,183 and common stock warrants of 1,344,986 for the year ended April 30, 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 year ended April 30, 2013 and 2012, and zero for the year ended April 30, 2011.