Note 11 - Treasury Stock and Repurchase Program

3 Months Ended

Jul. 31, 2017

Notes to Financial Statements

Treasury Stock [Text Block]

Note

11

- Treasury Stock and Repurchase Program:

On

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, 2017 (1)(2)		288,335	$	3,781	$	13.11	$	609
Purchases effected in open market during the quarters ended:
May 31, 2017 (2)		2,353		40		17.29		569
June 30, 2017		-		-		-		-
July 31, 2017		-		-		-		-
Balance as of July 31, 2017		290,688	$	3,821	$	13.15	$	569

(

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

$3

million repurchase program authorized in

September 2012.