Taxes

6 Months Ended

Oct. 31, 2011

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

(9)           Taxes

The Company’s effective tax rate was 42.0% and 44.0% for the three and six months ended October 31, 2011 compared to 40.0% and 50.0% for the same periods in the prior year.  The difference between the statutory rate and the effective rates was primarily attributable to the accrual of interest related to unrecognized tax positions, which the Company has elected to include in its income tax expense or benefit.  The effect of this interest accrual for both the three and six month periods was to increase the tax provision associated with the pre-tax income in both 2012 and 2011.  The Company expects to utilize federal net operating loss carryforwards to offset current year taxable income.

Unrecognized tax benefits were $333,000 at October 31, 2011 and April 30, 2011.  As a result of either the expiration of statutes of limitations or the recognition or measurement considerations under the Financial Accounting Standards Board’s Accounting Standards Codification (“ASC”) 740, the Company believes that it is reasonably possible that the amount of unrecognized tax benefits will decrease within the next twelve months.