XML 20 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Apr. 30, 2017
USD ($)
Apr. 30, 2016
USD ($)
Apr. 30, 2015
USD ($)
Cash flows from operating activities:      
Net earnings $ 14,621 $ 10,242 $ 8,128
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 6,640 5,618 5,833
Stock-based compensation expense 1,428 1,593 1,530
Accretion of liability from purchase of business   11 11
Tax benefit of options exercised     420
Excess tax benefits from stock-based compensation     (384)
Net (gain)/loss on investments (146) 994 638
Net (gain) on sale of fixed assets (11,776)    
Deferred income tax expense/(benefit) 675 (312) (723)
Changes in operating assets and liabilities, net of effects of acquisition:      
Purchases of trading securities (10,267) (13,206) (18,806)
Proceeds from sales and maturities of trading securities 15,507 14,071 11,204
Accounts receivable, net 1,187 (945) (400)
Prepaid expenses and other assets (284) (740) 350
Accounts payable and other liabilities 1,185 1,155 (1,870)
Deferred revenue 1,010 (190) 4,093
Net cash provided by operating activities 19,780 18,291 10,024
Cash flows from investing activities:      
Capitalized computer software development costs (3,724) (3,246) (2,747)
Purchases of property and equipment, net of disposals (731) (655) (1,028)
Proceeds from sale of building 13,134    
Purchase of business, net of cash acquired (4,441)   (7,909)
Net cash provided by (used in) investing activities 4,238 (3,901) (11,684)
Cash flows from financing activities:      
Repurchase of common stock   (181) (1,100)
Excess tax benefits from stock-based compensation     384
Proceeds from exercise of stock options 5,717 1,818 2,725
Payment for accrued acquisition consideration (200) (200) (200)
Dividends paid (12,540) (11,478) (11,297)
Net cash used in financing activities (7,021) (10,041) (9,488)
Net change in cash and cash equivalents 16,997 4,349 (11,148)
Cash and cash equivalents at beginning of year 49,004 44,655 55,803
Cash and cash equivalents at end of year 66,001 49,004 44,655
Supplemental disclosures of cash paid during the year for:      
Income taxes 2,924 4,800 2,597
Supplemental disclosures of noncash operating, investing and financing activities:      
Accrual of dividends payable $ 3,259 $ 2,887 $ 2,861