DISCONTINUED OPERATIONS

6 Months Ended

Oct. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

(2) DISCONTINUED OPERATIONS

Prior to February 9, 2015, the Company had been engaged in the Newsstand Distribution Services business and the Product Packaging and Fulfillment Services business. On February 9, 2015, the Newsstand Distribution Services business and the Product Packaging and Fulfillment Services business were sold. In addition, prior to April 10, 2015, the Company had also been engaged in the Staffing Services business. On April 10, 2015, the Staffing Services business was sold. The Newsstand Distribution Services business, the Product Packaging and Fulfillment Services business and the Staffing Services business have been classified as “discontinued operations” in the Company’s financial statements. Financial information from prior periods has been reclassified to conform to this presentation. Refer to Item 1 of Part I of the 2015 Form 10-K for more detail about the sale of the Newsstand Distribution Services business, the Product Packaging and Fulfillment Services business and the Staffing Services business. The following table provides a reconciliation of the carrying amounts of the major classes of assets and liabilities of the discontinued operations in the accompanying balance sheet (in thousands):

	April 30, 2015
Carrying amounts of major classes of assets included as part of discontinued operations:
Cash and cash equivalents	$	1,241
Receivables, net		431
Intangible and other assets, net		17
Total assets classified as discontinued operations in the accompanying balance sheets	$	1,689
Carrying amounts of major classes of liabilities included as part of discontinued operations:
Accounts payable and accrued expenses	$	150
Deferred and income taxes payable		145
Total liabilities classified as discontinued operations in the accompanying balance sheets	$	295

The following tables provide a reconciliation of the carrying amounts of components of pretax income or loss of the discontinued operations to the amounts reported in the accompanying statement of operations (in thousands):

	October 31,  2014
For the three months ended:
Components of pretax income from discontinued operations:
Revenues	$	5,039
Operating expenses		(4,006)
General and administrative expenses		(525)
Interest expense		(65)
Income from discontinued operations before income taxes		443
Provision for income taxes		92
Net income from discontinued operations	$	351
For the six months ended:
Components of pretax income from discontinued operations:
Revenues	$	10,697
Operating expenses		(9,202)
General and administrative expenses		(1,146)
Gain from settlement (Note 11)		11,155
Interest expense		(93)
Income from discontinued operations before income taxes		11,411
Provision for income taxes		4,160
Net income from discontinued operations	$	7,251

The following table provides the total operating and investing cash flows of the discontinued operations for the period in which the results of operations of the discontinued operations are presented in the accompanying statement of operations (in thousands):

	October 31,  2014
For the six months ended:
Cash flows from discontinued operating activities:
Net income	$	7,251
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Gain on settlement		(11,155)
Depreciation and amortization		202
Non-cash credits and charges:
Allowance for doubtful accounts		(867)
Changes in assets and liabilities:
Receivables		4,692
Intangible and other assets		111
Accounts payable and accrued expenses		(2,440)
Other		4,043
Total adjustments		(5,414)
Net cash provided by (used in) operating activities	$	1,837
Cash flows from investing activities:
Capital expenditures - property, plant and equipment	$	(31)
Net cash used in investing activities	$	(31)