BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Apr. 30, 2015

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Schedule of Other Assets

f) Other Assets: Our other asset account includes assets of $5,500 related to the Kansas Expanded Lottery Act Management Contract privilege fee, $3,635 of gaming equipment we were required to pay for ownership by the State of Kansas Lottery, and JET autopilot intellectual property of $1,417, and miscellaneous other assets of $1,038.  BHCMC expects the $5,500 privilege fee to have a value over the remaining life of the Management Contract with the State of Kansas which will end in December 2024.  There is no assurance of the Management Contract renewal.  The Managers Certificate asset for use of gaming equipment is being amortized over a period of three years based on the estimated useful life of gaming equipment.  The JET intellectual property is being amortized over a period of 15 years.

Other assets net values are as follows:

(dollars in thousands)	2015		2014
Privilege fee	$	5,500	$	5,500
Less amortized costs		1,410		987
Privilege fee balance	$	4,090	$	4,513
Intangible gaming equipment	$	3,635	$	2,252
Less amortized costs		1,961		948
Intangible gaming equipment balance	$	1,674		1,304
JET autopilot intellectual property	$	1,417	$	1,417
Less amortized costs		679		585
JET autopilot balance	$	738	$	832

Supplemental Type Certificates capitalized costs

g) Supplemental Type Certificates: Supplemental Type Certificates (STCs) are authorizations granted by the Federal Aviation Administration (FAA) for specific modification of a certain aircraft. The STC authorizes us to perform modifications, installations, and assemblies on applicable customer-owned aircraft. Costs incurred to obtain STCs are capitalized and subsequently amortized against revenues being generated from aircraft modifications associated with the STC. The costs are expensed as services are rendered on each aircraft through costs of sales using the units of production method. The legal life of an STC is indefinite. We believe we have enough future sales to fully amortize our STC development costs. Consultant costs, as shown below, include costs of engineering, legal and aircraft specialists. STC capitalized costs are as follows:

(dollars in thousands)	2015		2014
Direct labor	$	1,709	$	1,033
Direct materials		2,336		1,833
Consultant costs		1,922		1,922
Overhead		2,871		1,797
		8,838		6,585
Less-amortized costs		2,975		2,841
STC balance	$	5,863	$	3,744

Computation of basic and diluted earnings per common share

The computation of the Company basic and diluted earnings per common share is as follows:

(in thousands, except per share data)	2015		2014		2013
Net income (loss) attributable to Butler National Corporation	$	27	$	112	$	(148)
Weighted average common shares outstanding		62,260,098		60,893,092		59,014,594
Dilutive effect of non-qualified stock option plans		-		-		-
Weighted average common shares outstanding, assuming dilution		62,260,098		60,893,092		59,014,594
Potential common shares if all options were exercised and shares issued		69,522,162		68,155,156		66,281,237
Basic earnings per common share	$	.00	$	.00	$	.00
Diluted earnings per common share	$	.00	$	.00	$	.00