Stockholders' Equity

12 Months Ended

Apr. 30, 2018

Stockholders’ Equity

Stockholders’ Equity

9. Stockholders’ Equity

During the year ended April 30, 2016, the Company repurchased 0.4 million shares of its common stock at a cost of $5.8 million in connection with its separation agreement with a former employee. The Company then reissued these shares for proceeds of $4.9 million. The difference between the cost of the treasury stock and the proceeds from its reissuance was accounted for using the “cost” method as an increase to retained earnings of $1.0 million. The Company did not have any treasury stock activity during the years ended April 30, 2018 or 2017.