SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Apr. 30, 2014

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Product warranty reserve activity

Estimated warranty costs are accrued as revenues are recognized. Included in the warranty cost accruals are costs for basic warranties on products sold. A summary of product warranty reserve activity for the fiscal years ended April 30, 2014 and 2013 is as follows:

(Amounts in thousands)

Balance at April 30, 2012	$	169
Additional reserves		153
Charges incurred		(183	)
Balance at April 30, 2013		139
Additional reserves		174
Charges incurred		(125	)
Balance at April 30, 2014	$	188

Inventories

Inventories are stated at the lower of cost or the current estimated market values. Cost is determined using the first-in, first-out method. Inventories consisted of the following:  

	April 30,		April 30,
	2014		2013
(Amounts in thousands)
Raw materials and subassemblies	$	1,082	$	2,872
Work-in-process		13		33
Finished goods		303		760
	$	1,398	$	3,665

Net equipment, furniture and fixtures

Net equipment, furniture and fixtures consisted of the following:

	April 30,			April 30,
	2014			2013
(Amounts in thousands)
Plant and machinery	$	662		$	757
Computer equipment		1,741			1,662
Leasehold improvement		201			201
Furniture, fixtures and equipment		96			96
Construction in progress		85			25
		2,785			2,741
Accumulated depreciation and amortization		(2,173	)		(2,168	)
Net equipment, furniture and fixtures	$	612		$	573