Comprehensive Income:

9 Months Ended

Jan. 31, 2012

Comprehensive Income (Loss) Note [Abstract]

Comprehensive Income:

Note 6-Comprehensive Income:

The FASB’s ASC Comprehensive Income topic requires the reporting of comprehensive income in addition to net income from operations. Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that otherwise would not be recognized in the calculation of net income.

As of January 31, 2012 and 2011, the Company held equities, FDIC insured corporate obligations and direct U.S. Government debt securities that are classified as securities available-for-sale on the Consolidated Condensed Balance Sheets. The change in valuation of these securities, net of deferred income taxes, has been recorded in accumulated other comprehensive income in the Company’s Consolidated Condensed Balance Sheets.

For the nine months ended January 31, 2012 and 2011, comprehensive income was $5,848,000 and $34,851,000, respectively. The components of comprehensive income that are included in the Consolidated Condensed Statement of Changes in Shareholders’ Equity for the nine months ending January 31, 2012 are as follows:

($ in thousands)	Amount Before Tax			Tax Expense			Tax Benefit		Amount Net of Tax
Change in unrealized gains on securities during the period	$	(1	)	$	-		$	-	$	(1	)
Add: Adjustments for losses realized in net income		22			(8	)		-		14
	$	21		$	(8	)	$	-	$	13

The components of comprehensive income that are included in the Consolidated Condensed Statement of Changes in Shareholders’ Equity for the nine months ending January 31, 2011 are as follows:

($ in thousands)	Amount Before Tax			Tax Expense			Tax Benefit		Amount Net of Tax
Change in unrealized gains on securities during the period	$	(48	)	$	-		$	17	$	(31	)
Add: Adjustments for losses realized in net income		64			(23	)		-		41
	$	16		$	(23	)	$	17	$	10