INCOME TAXES: (Tables)

12 Months Ended

Apr. 30, 2015

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision (benefit) for income taxes consists of the following:

		Year Ended April 30,
		2015	2014
		(in thousands)
Current:
Federal	$	(676)	$	(782)
State and local		16		(104)
		(660)		(886)
Deferred:
Federal		(1,387)		(235)
State and local		(85)		554
		(1,472)		319
Total benefit for income taxes	$	(2,132)	$	(567)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of the net deferred income taxes are as follows:

	April 30,
	2015		2014
	(in thousands)
Deferred income tax assets:
State tax loss carryforwards	$	4,272	$	3,340
Accrued pension costs		4,274		2,376
U.S. Federal NOL carryforward		-		4,946
Vacation accrual		210		405
Intangibles and deductible goodwill		4,835		5,560
Real estate basis differences		4,296		3,309
Other		177		-
Total deferred income tax assets		18,064		19,936

Deferred income tax liabilities:
Depreciable assets		(3,776)		(4,049)
Deferred gains on investment assets		(4,423)		(4,423)
Capitalized costs for financial reporting purposes, expensed for tax		(371)		(451)
Other		-		(318)
Total deferred income tax liabilities		(8,570)		(9,241)
Valuation allowance for realization of state tax loss carryforwards		(3,657)		(2,627)
Net deferred income tax asset	$	5,837	$	8,068

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The following table reconciles taxes computed at the U.S. federal statutory income tax rate from continuing operations to the Company's actual tax provision:

		Year Ended April 30,
		2015	2014
		(in thousands)
Computed tax provision (benefit) at statutory rate	$	(2,000)	$	(470)
Increase (reduction) in tax resulting from:
State income taxes, net of federal income tax effect		(45)		(186)
Expiration of state NOLs		-		181
Meals and entertainment		11		16
Other		(98)		(108)
Actual tax provision (benefit)	$	(2,132)	$	(567)

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

The following table summarizes the beginning and ending gross amount of unrecognized tax benefits:

	2015		2014
	(in thousands)
Gross unrecognized tax benefits at beginning of year	$	58	$	1,516
Gross increases:
Additions based on tax positions related to current year		-		-
Additions based on tax positions of prior years		-		-
Gross decreases:
Reductions based on tax positions of prior years		-		(1,458)
Reductions based on the lapse of the applicable statute of limitations		-		-
Gross unrecognized tax benefits at end of year	$	58	$	58