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<p style="text-align: justify; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><b>Note 9</b>—<b>Stock-based Compensation</b> </p>
<p style="text-align: justify; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"> </p>
<p style="text-align: justify; text-indent: 0.2in; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal">The Company recognizes share-based compensation expense for all share-based payment awards based on fair value. The Company maintains a stock-based compensation plan (the "2005 Plan") which was adopted in September 2005 to attract and retain the most talented employees and promote the growth and success of the business by aligning long-term interests of employees with those of shareholders. At the Annual Meeting of Shareholders held on September 10, 2009, shareholders of the Company approved an amendment to the 2005 Plan which provided for an increase in the aggregate number of shares of common stock that may be issued pursuant to this Plan from 2,500,000 shares to 5,000,000 shares issuable in the form of stock, stock units, stock options, stock appreciation rights, or cash awards.</p>
<p style="text-align: justify; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><b><i> </i></b> </p>
<p style="text-align: justify; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><b><i>Stock Options</i></b></p>
<p style="text-align: justify; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"> </p>
<p style="text-align: justify; text-indent: 0.2in; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal">The Company grants stock options to employees of the Company with service and/or performance conditions. The compensation cost of service condition stock options is based on their fair value at the grant date and recognized ratably over the service period. Compensation cost of stock options with performance conditions is based upon current performance projections and the percentage of the requisite service that has been rendered. All options become exercisable upon a change in control of the Company unless the surviving company assumes the outstanding options or substitutes similar awards for the outstanding awards of the 2005 Plan. Options are granted with an exercise price equal to the fair market value of the Company's common stock on the date of grant. The maximum term of options is 10 years from the date of grant.</p>
<p style="text-align: justify; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"> </p>
<p style="text-align: justify; text-indent: 0.2in; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal">The following table summarizes stock option activities for the three months ended July 31, 2010:</p>
<p style="text-align: justify; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"> </p>
<table style="border-collapse: collapse; font-family: 'Calibri','sans-serif'; font-size: 11pt;" class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0">
<tr><td style="padding-bottom: 0in; padding-left: 2.35pt; width: 254.35pt; padding-right: 2.35pt; padding-top: 0in;" valign="top" width="339">
<p style="text-align: left; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"> </p>
<p style="text-align: left; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"> </p>
<p style="text-align: left; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"> </p>
<p style="text-align: left; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"> </p>
<p style="text-align: left; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"> </p></td>
<td style="padding-bottom: 2pt; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; height: 12px; font-size: 10pt;" class="MsoNormal" align="left"><b><font style="line-height: 93%; font-size: 8pt;" class="_mt">Number of</font></b></p>
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><b><u><font style="line-height: 93%; font-size: 8pt;" class="_mt">Options</font></u></b></p></td>
<td style="padding-bottom: 2pt; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><b><font style="line-height: 93%; font-size: 8pt;" class="_mt"><font class="_mt"> </font>Weighted-</font></b></p>
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><b><font style="line-height: 93%; font-size: 8pt;" class="_mt"><font class="_mt"> </font>Average</font></b></p>
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><b><font style="line-height: 93%; font-size: 8pt;" class="_mt"><font class="_mt"> </font>Exercise</font></b></p>
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><b><u><font style="line-height: 93%; font-size: 8pt;" class="_mt"><font class="_mt"> </font>Price<font class="_mt"> </font></font></u></b></p></td>
<td style="padding-bottom: 2pt; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><b><font style="line-height: 93%; font-size: 8pt;" class="_mt"><font class="_mt"> </font>Aggregate</font></b></p>
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><b><font style="line-height: 93%; font-size: 8pt;" class="_mt"><font class="_mt"> </font>Intrinsic</font></b></p>
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><b><u><font style="line-height: 93%; font-size: 8pt;" class="_mt"><font class="_mt"> </font>Value<font class="_mt"> </font></font></u></b></p></td>
<td style="padding-bottom: 2pt; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><b><font style="line-height: 93%; font-size: 8pt;" class="_mt"><font class="_mt"> </font>Weighted-</font></b></p>
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><b><font style="line-height: 93%; font-size: 8pt;" class="_mt"><font class="_mt"> </font>Average</font></b></p>
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><b><font style="line-height: 93%; font-size: 8pt;" class="_mt"><font class="_mt"> </font>Remaining</font></b></p>
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><b><font style="line-height: 93%; font-size: 8pt;" class="_mt"><font class="_mt"> </font>Contractual</font></b></p>
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><b><u><font style="line-height: 93%; font-size: 8pt;" class="_mt"><font class="_mt"> </font>Term (Years)</font></u></b></p></td></tr>
<tr><td style="padding-bottom: 0in; padding-left: 2.35pt; width: 254.35pt; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="339">
<p style="text-align: left; line-height: 93%; text-indent: -5.05pt; margin: 0in 5.05pt 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left">Outstanding at May 1, 2010</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><font class="_mt"> </font>628,082</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><font class="_mt"> </font>$<font class="_mt"> </font>10.48</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="center">$<font class="_mt"> </font><font class="_mt"> </font>—</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><font class="_mt"> </font>4.97</p></td></tr>
<tr><td style="padding-bottom: 0in; padding-left: 2.35pt; width: 254.35pt; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="339">
<p style="text-align: left; line-height: 93%; text-indent: -5.05pt; margin: 0in 5.05pt 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left">Granted during the period</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><font class="_mt"> </font>—</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><font class="_mt"> </font>—</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: center; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="center"> </p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: left; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"> </p></td></tr>
<tr><td style="padding-bottom: 0in; padding-left: 2.35pt; width: 254.35pt; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="339">
<p style="text-align: left; line-height: 93%; text-indent: -5.05pt; margin: 0in 5.05pt 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left">Exercised during the period</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><font class="_mt"> </font>—</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><font class="_mt"> </font>—</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: center; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="center"> </p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: left; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"> </p></td></tr>
<tr><td style="padding-bottom: 0in; padding-left: 2.35pt; width: 254.35pt; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="339">
<p style="text-align: left; line-height: 93%; text-indent: -5.05pt; margin: 0in 5.05pt 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left">Expired or forfeited during the period</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="border-bottom: black 1px solid; text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><font class="_mt"> </font><font class="_mt"> </font>(90,390)</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="border-bottom: black 1px solid; text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><font class="_mt"> </font><font class="_mt"> </font>10.90</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: center; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="center"> </p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: left; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"> </p></td></tr>
<tr><td style="padding-bottom: 0in; padding-left: 2.35pt; width: 254.35pt; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="339">
<p style="text-align: left; line-height: 93%; text-indent: -5.05pt; margin: 0in 5.05pt 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left">Outstanding at July 31, 2010</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="border-bottom: black 3px double; text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><font class="_mt"> </font><font class="_mt"> </font>537,692</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="border-bottom: black 3px double; text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><font class="_mt"> </font>$<font class="_mt"> </font>10.41</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="border-bottom: black 3px double; text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="center">$ <font class="_mt"> </font><font class="_mt"> </font><font class="_mt"> </font><font class="_mt"> </font>—</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="border-bottom: black 3px double; text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><font class="_mt"> </font><font class="_mt"> </font>5.54</p></td></tr>
<tr><td style="padding-bottom: 0in; padding-left: 2.35pt; width: 254.35pt; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="339">
<p style="text-align: left; line-height: 93%; text-indent: -5.05pt; margin: 0in 5.05pt 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left">Vested and Exercisable at July 31, 2010</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><font class="_mt"> </font>396,054</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><font class="_mt"> </font>$<font class="_mt"> </font>10.44</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="center">$<font class="_mt"> </font><font class="_mt"> </font><font class="_mt"> </font><font class="_mt"> </font>—</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left"><font class="_mt"> </font>4.84</p></td></tr></table>
<p style="text-align: justify; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"> </p>
<p style="text-align: justify; text-indent: 0.2in; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal">There were no options granted or exercised for the respective three months ended July 31, 2010 and 2009.</p>
<p style="text-align: justify; text-indent: 0.2in; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"> </p>
<p style="text-align: justify; text-indent: 0.2in; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal">For the respective three months ended July 31, 2010 and 2009, the Company recognized compensation expense related to stock options of $145,000 and $129,000.<font class="_mt"> </font>As of July 31, 2010, total unrecognized compensation cost related to nonvested stock options was $733,000, which is expected to be recognized over a weighted average period of 1.5 years.<font class="_mt"> </font></p>
<p style="text-align: justify; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"> </p>
<p style="text-align: justify; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><b><i>Service</i></b>-<b><i>Based Stock Awards</i></b></p>
<p style="text-align: justify; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"> </p>
<p style="text-align: justify; text-indent: 0.2in; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal">The Company grants common stock or stock units to employees and non-employee directors of the Company with service conditions. Each non-employee director is eligible to receive and is granted common stock worth $40,000 annually. The compensation cost of the common stock or stock units are based on their fair value at the grant date and recognized ratably over the service period.</p>
<p style="text-align: justify; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"> </p>
<p style="text-align: justify; text-indent: 0.2in; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal">The following table summarizes the service-based stock award activities for employees for the three months ended July 31, 2010:</p>
<p style="text-align: justify; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"> </p>
<table style="border-collapse: collapse; font-family: 'Calibri','sans-serif'; font-size: 11pt;" class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0">
<tr><td style="padding-bottom: 0in; padding-left: 2.35pt; width: 398.35pt; padding-right: 2.35pt; padding-top: 0in;" valign="top" width="531">
<p style="text-align: justify; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"> </p>
<p style="text-align: justify; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"> </p>
<p style="text-align: justify; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"> </p>
<p style="text-align: justify; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"> </p></td>
<td style="padding-bottom: 2pt; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><b><font style="line-height: 93%; font-size: 8pt;" class="_mt">Number of</font></b></p>
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><b><u><font style="line-height: 93%; font-size: 8pt;" class="_mt">Shares<font class="_mt"> </font></font></u></b></p></td>
<td style="padding-bottom: 2pt; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><b><font style="line-height: 93%; font-size: 8pt;" class="_mt"><font class="_mt"> </font>Weighted-</font></b></p>
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><b><font style="line-height: 93%; font-size: 8pt;" class="_mt"><font class="_mt"> </font>Average</font></b></p>
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><b><font style="line-height: 93%; font-size: 8pt;" class="_mt"><font class="_mt"> </font>Grant-date</font></b></p>
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><b><u><font style="line-height: 93%; font-size: 8pt;" class="_mt"><font class="_mt"> </font>Fair Value<font class="_mt"> </font></font></u></b></p></td></tr>
<tr><td style="padding-bottom: 0in; padding-left: 2.35pt; width: 398.35pt; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="531">
<p style="text-align: left; line-height: 93%; text-indent: -5.05pt; margin: 0in 5.05pt 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left">Nonvested at May 1, 2010</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><font class="_mt"> </font>1,237,959</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><font class="_mt"> </font>$<font class="_mt"> </font>3.57</p></td></tr>
<tr><td style="padding-bottom: 0in; padding-left: 2.35pt; width: 398.35pt; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="531">
<p style="text-align: left; line-height: 93%; text-indent: -5.05pt; margin: 0in 5.05pt 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left">Granted during the period</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><font class="_mt"> </font>838,666</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><font class="_mt"> </font>2.28</p></td></tr>
<tr><td style="padding-bottom: 0in; padding-left: 2.35pt; width: 398.35pt; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="531">
<p style="text-align: left; line-height: 93%; text-indent: -5.05pt; margin: 0in 5.05pt 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left">Vested during the period</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><font class="_mt"> </font>(281,200)</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><font class="_mt"> </font>3.25</p></td></tr>
<tr><td style="padding-bottom: 0in; padding-left: 2.35pt; width: 398.35pt; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="531">
<p style="text-align: left; line-height: 93%; text-indent: -5.05pt; margin: 0in 5.05pt 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left">Forfeited during the period</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="border-bottom: black 1px solid; text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><font class="_mt"> </font><font class="_mt"> </font>(3,222)</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="border-bottom: black 1px solid; text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><font class="_mt"> </font><font class="_mt"> </font>8.18</p></td></tr>
<tr><td style="padding-bottom: 0in; padding-left: 2.35pt; width: 398.35pt; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="531">
<p style="text-align: left; line-height: 93%; text-indent: -5.05pt; margin: 0in 5.05pt 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal" align="left">Nonvested at July 31, 2010</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="border-bottom: black 3px double; text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><font class="_mt"> </font><font class="_mt"> </font>1,792,203</p></td>
<td style="padding-bottom: 0in; padding-left: 2.35pt; width: 0.8in; padding-right: 2.35pt; padding-top: 0in;" valign="bottom" width="77">
<p style="border-bottom: black 3px double; text-align: right; line-height: 93%; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"><font class="_mt"> </font>$<font class="_mt"> </font>3.01</p></td></tr></table>
<p style="text-align: justify; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"> </p>
<p style="text-align: justify; text-indent: 0.2in; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal">For the respective three months ended July 31, 2010 and 2009, the Company recognized compensation expense related to service-based stock awards of $496,000 and $305,000. As of July 31, 2010, total unrecognized compensation cost related to service-based stock awards of $4.5 million is expected to be recognized over a weighted average period of 2.6 years.</p>
<p style="text-align: justify; margin: 0in 0in 0pt; font-family: 'Times New Roman','serif'; font-size: 10pt;" class="MsoNormal"> </p> </div>
Note 9—Stock-based Compensation
The Company recognizes share-based compensation expense for all share-based payment awards based on fair value.
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Disclosure of compensation-related costs for share-based compensation which may include disclosure of policies, compensation plan details, allocation of stock compensation, incentive distributions, share-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14
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