Long-Term Incentive Awards	12 Months Ended
Apr. 30, 2017
Long-Term Incentive Awards.
Long-Term Incentive Awards	13. Long‑Term Incentive Awards On May 30, 2017, the Company granted an award under the Restated 2006 Plan to key employees. Each award generally consists of: (i) 50% of the target in time based restricted stock awards which vest in equal tranches in July 2017, July 2018 and July 2019, and (ii) 50% of the target in performance based restricted stock units. For the performance based awards, the performance period is the three‑year period ending April 30, 2019. A target payout was established at the award date. Each recipient was issued time based restricted stock awards on the award date generally equal to 50% of the award date target. The actual payout for the performance awards at the end of the performance period will be calculated based upon the Company’s achievement of established revenue and operating income targets for the performance period. Payouts of the performance awards will be made in shares of restricted stock units. During the year ended April 30, 2016, the Company granted a three-year performance award under the Restated 2006 Plan to key employees. The performance period for each three-year award is the three‑year period ending April 30, 2018. A target payout was established at the award date. The actual payout at the end of the performance period will be calculated based upon the Company’s achievement of revenue and gross margin for the performance period. Payouts will be made in cash and restricted stock units. Upon vesting of the restricted stock units, the Company has the discretion to settle the restricted stock units in cash or stock. During the year ended April 30, 2015, the Company granted a performance award under the Restated 2006 Plan to key employees. The performance period for the award is the three-years ended April 30, 2017. A target payout was established at the award date. The actual payout at the end of the performance period will be calculated based upon the Company’s achievement of revenue and gross margin for the fiscal year ended April 30, 2017. Payouts will be made in cash and restricted stock units. Upon vesting of the restricted stock units, the Company has the discretion to settle the restricted stock units in cash or stock. The revenue and operating targets under the plan were not achieved, and therefore, no amounts will be paid out on the 2015 long-term incentive awards. The cash component of the award is accounted for as a liability. The equity component is accounted for as a stock‑based liability, as the restricted stock units may be settled in cash or stock solely at the discretion of the Company. At each reporting period, the Company reassesses the probability of achieving the performance targets. The estimation of whether the performance targets will be achieved requires judgment, and, to the extent actual results or updated estimates differ from the Company’s current estimates, the cumulative effect on current and prior periods of those changes will be recorded in the period estimates are revised. During the years ended April 30, 2017, 2016 and 2015, the Company did not record any compensation expense for the long‑term incentive awards. At April 30, 2017 and 2016, the Company had an accrued liability of $0 for outstanding awards. At April 30, 2017, the maximum compensation expense that may be recorded for outstanding awards is $2,690,000.

13. Long‑Term Incentive Awards

On May 30, 2017, the Company granted an award under the Restated 2006 Plan to key employees. Each award generally consists of: (i) 50% of the target in time based restricted stock awards which vest in equal tranches in July 2017, July 2018 and July 2019, and (ii) 50% of the target in performance based restricted stock units. For the performance based awards, the performance period is the three‑year period ending April 30, 2019. A target payout was established at the award date. Each recipient was issued time based restricted stock awards on the award date generally equal to 50% of the award date target. The actual payout for the performance awards at the end of the performance period will be calculated based upon the Company’s achievement of established revenue and operating income targets for the performance period. Payouts of the performance awards will be made in shares of restricted stock units.

During the year ended April 30, 2016, the Company granted a three-year performance award under the Restated 2006 Plan to key employees. The performance period for each three-year award is the three‑year period ending April 30, 2018. A target payout was established at the award date. The actual payout at the end of the performance period will be calculated based upon the Company’s achievement of revenue and gross margin for the performance period. Payouts will be made in cash and restricted stock units. Upon vesting of the restricted stock units, the Company has the discretion to settle the restricted stock units in cash or stock.

During the year ended April 30, 2015, the Company granted a performance award under the Restated 2006 Plan to key employees. The performance period for the award is the three-years ended April 30, 2017. A target payout was established at the award date. The actual payout at the end of the performance period will be calculated based upon the Company’s achievement of revenue and gross margin for the fiscal year ended April 30, 2017. Payouts will be made in cash and restricted stock units. Upon vesting of the restricted stock units, the Company has the discretion to settle the restricted stock units in cash or stock. The revenue and operating targets under the plan were not achieved, and therefore, no amounts will be paid out on the 2015 long-term incentive awards.

The cash component of the award is accounted for as a liability. The equity component is accounted for as a stock‑based liability, as the restricted stock units may be settled in cash or stock solely at the discretion of the Company. At each reporting period, the Company reassesses the probability of achieving the performance targets. The estimation of whether the performance targets will be achieved requires judgment, and, to the extent actual results or updated estimates differ from the Company’s current estimates, the cumulative effect on current and prior periods of those changes will be recorded in the period estimates are revised.

During the years ended April 30, 2017, 2016 and 2015, the Company did not record any compensation expense for the long‑term incentive awards. At April 30, 2017 and 2016, the Company had an accrued liability of $0 for outstanding awards. At April 30, 2017, the maximum compensation expense that may be recorded for outstanding awards is $2,690,000.