Information About the Company's Operations in Different Industry Segments

6 Months Ended

Oct. 31, 2011

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

(11)         Information About the Company's Operations in Different Industry Segments

The following tables set forth summarized data relative to the industry segments in which the Company operated for the three and six month periods ended October 31, 2011 and 2010 (in thousands):

	Subscription Fulfillment Services		Newsstand Distribution Services			Product Services and Other (Kable)			Real Estate Operations			Corporate and Other			Consolidated
Three months ended October 31, 2011 (a):
Revenues	$	16,510	$	2,552		$	2,958		$	1,396		$	(65	)	$	23,351
Net income (loss)		684		154			134			(130	)		241			1,083
Provision (benefit) for income taxes		420		177			79			(17	)		124			783
Interest expense (income), net (b)		561		(370	)		35			413			(283	)		356
Depreciation and amortization		1,082		134			64			21			37			1,338
EBITDA (c)	$	2,747	$	95		$	312		$	287		$	119		$	3,560
Capital expenditures	$	129	$	27		$	13		$	-		$	-		$	169
Three months ended October 31, 2010 (a):
Revenues	$	19,572	$	2,886		$	2,835		$	586		$	(63	)	$	25,816
Net income (loss)		1,237		165			119			(894	)		104			731
Provision (benefit) for income taxes		663		147			69			(448	)		52			483
Interest expense (income), net (b)		568		(271	)		23			335			(185	)		470
Depreciation and amortization		1,246		182			66			21			37			1,552
EBITDA (c)	$	3,714	$	223		$	277		$	(986	)	$	8		$	3,236
Capital expenditures	$	150	$	-		$	13		$	-		$	-		$	163
Six months ended October 31, 2011 (a):
Revenues	$	33,186	$	4,899		$	5,312		$	1,578		$	(131	)	$	44,844
Net income (loss)		1,048		184			(22	)		(890	)		484			804
Provision (benefit) for income taxes		634		225			(13	)		(461	)		250			635
Interest expense (income), net (b)		1,132		(728	)		66			808			(561	)		717
Depreciation and amortization		2,189		271			128			41			74			2,703
EBITDA (c)	$	5,003	$	(48	)	$	159		$	(502	)	$	247		$	4,859
Capital expenditures	$	616	$	68		$	13		$	-		$	-		$	697
Six months ended October 31, 2010 (a):
Revenues	$	38,423	$	6,000		$	5,105		$	1,499		$	(124	)	$	50,903
Net income (loss)		758		585			88			(1,566	)		368			233
Provision (benefit) for income taxes		381		429			51			(822	)		195			234
Interest expense (income), net (b)		1,184		(631	)		46			667			(373	)		893
Depreciation and amortization		2,534		325			120			42			75			3,096
EBITDA (c)	$	4,857	$	708		$	305		$	(1,679	)	$	265		$	4,456
Capital expenditures	$	285	$	-		$	13		$	-		$	-		$	298

(a)   Revenue information provided for each segment includes amounts grouped as Interest and other in the accompanying statements of operations.  Corporate revenue is net of an intercompany revenue elimination.

(b)   Interest expense (income), net includes inter-segment interest income that is eliminated in consolidation.

(c)   The Company uses EBITDA (which the Company defines as income before net interest expense, income taxes, and depreciation and amortization) in addition to net income (loss) as a key measure of profit or loss for segment performance and evaluation purposes.