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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Apr. 30, 2019
USD ($)
Apr. 30, 2018
USD ($)
Apr. 30, 2017
USD ($)
Cash flows from operating activities:      
Net earnings $ 6,803 $ 12,053 $ 14,621
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 7,719 6,030 6,640
Stock-based compensation expense 1,751 1,467 1,428
Net gain on investments (373) (254) (146)
Net gain on sale of fixed assets (4) 0 (11,776)
Deferred income tax expense 320 621 675
Changes in operating assets and liabilities, net of effects of acquisition:      
Purchases of trading securities (10,254) (24,541) (10,267)
Proceeds from sales and maturities of trading securities 18,447 13,568 15,507
Accounts receivable, net 2,165 (1,774) 1,187
Prepaid expenses and other assets 536 (1,983) (284)
Accounts payable and other liabilities (3,611) (1,807) 1,185
Deferred revenue 431 3,374 1,010
Net cash provided by operating activities 23,930 6,754 19,780
Cash flows from investing activities:      
Capitalized computer software development costs (5,961) (4,804) (3,724)
Purchases of property and equipment, net of disposals (1,252) (1,428) (731)
Proceeds from sale of building 0 0 13,134
Purchase of business, net of cash acquired 0 (9,150) (4,441)
Net cash (used in) provided by investing activities (7,213) (15,382) 4,238
Cash flows from financing activities:      
Proceeds from exercise of stock options 5,367 8,609 5,717
Payment for accrued acquisition consideration 0 0 (200)
Dividends paid (13,590) (13,188) (12,538)
Net cash used in financing activities (8,223) (4,579) (7,021)
Net change in cash and cash equivalents 8,494 (13,207) 16,997
Cash and cash equivalents at beginning of year 52,794 66,001 49,004
Cash and cash equivalents at end of year 61,288 52,794 66,001
Supplemental disclosures of cash paid during the year for:      
Income taxes 516 7,892 2,924
Supplemental disclosures of noncash operating, investing and financing activities:      
Accrual of dividends payable $ 3,434 $ 3,367 $ 3,259