Note

- Treasury Stock and Repurchase Program:

September

19,

2012,

the Company's Board of Directors approved a share repurchase program authorizing the repurchase of shares of the Company’s common stock up to an aggregate purchase price of

$3,000,000.

The repurchases

may

be made from time to time on the open market at prevailing market prices, in negotiated transactions off the market, in block purchases or otherwise. The repurchase program

may

be suspended or discontinued at any time at the Company’s discretion and has no set expiration date.

Treasury stock, at cost, consists of the following:

(in thousands except for shares and cost per share)	Shares		Total Average Cost Assigned		Average Cost per Share		Aggregate Purchase Price Remaining Under the Program
Balance as of April 30, 2016 (1)(2)		243,411	$	3,040	$	12.49	$	1,350
Purchases effected in open market during the quarters ended:
July 31, 2016 (2)		32,714	$	535	$	12.95	$	815
October 31, 2016 (2)		8,747	$	146	$	16.68	$	669
January 31, 2017 (2)		-	$	-	$	-	$	-
Balance as of January 31, 2017		284,872	$	3,721	$	13.06	$	669

(1)

Includes

85,219

shares with a total average cost of

$1,036,000

that were acquired during the former repurchase program, which was authorized in

January

2011

and expired in

January

2012;

18,400

shares were acquired prior to

January

2011.

(2)

Were acquired during the

million repurchase program authorized in

September

2012.