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Stock-Based Compensation (Tables)
 12 Months Ended
Apr. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule Of Weighted Average Assumptions And Valuation Of Stock Options
The weighted-average assumptions and valuation of the Company’s stock options were as follows:
 
FISCAL YEARS ENDED APRIL 30
 
2015

2014

2013
Weighted-average fair value of grants
$
9.25


$
14.46


$
7.39

Expected volatility
27.4
%

38.2
%

42.5
%
Expected term in years
5.9


6.1


6.1

Risk-free interest rate
2.19
%

1.59
%

1.09
%
Expected dividend yield
—
%

—
%

—
%
Schedule Of Stock Option Activity
The following table presents a summary of the Company’s stock option activity for the fiscal years ended April 30, 2015, 2014 and 2013 (remaining contractual term in years and exercise prices are weighted-averages):
 
NUMBER OF OPTIONS

REMAINING CONTRACTUAL TERM

WEIGHTED AVERAGE EXERCISE PRICE

AGGREGATE INTRINSIC VALUE
(in thousands)
Outstanding at April 30, 2012
1,624,760


5.1

$27.64

$
—











Granted
125,000


9.1

17.62

—

Exercised
(251,799
)

—

23.35

1,868

Cancelled or expired
(96,148
)

—

31.03

—

Outstanding at April 30, 2013
1,401,813


4.8

$27.27

$
9,272











Granted
60,500


9.1

36.74

—

Exercised
(551,485
)

—

26.61

5,156

Cancelled or expired
(59,514
)

—

30.17

—

Outstanding at April 30, 2014
851,314


4.3

$28.16

$
3,121











Granted
66,600


9.1

29.92

—

Exercised
(508,639
)

—

28.05

7,209

Cancelled or expired
(11,200
)

—

32.64

—

Outstanding at April 30, 2015
398,075


5.0

$28.46

$
8,851

Outstanding at









Vested and expected to vest in the future at April 30, 2015
385,250


4.9

$28.45

$
8,571

Exercisable at April 30, 2015
263,541


3.3

$28.38

$
5,882
Schedule Of Stock Options Oustanding Activity
The following table summarizes information about stock options outstanding at April 30, 2015 (remaining lives in years and exercise prices are weighted-averages):
 
OPTIONS OUTSTANDING

OPTIONS EXERCISABLE
OPTION PRICE
 

REMAINING

EXERCISE

 

EXERCISE
PER SHARE
OPTIONS

LIFE

PRICE

OPTIONS

PRICE
$17.62-$17.62
45,841


7.1

$17.62

12,507


$17.62
$22.77-$24.73
120,800


3.6

24.15

120,800


24.15
$28.97-$34.11
184,100


4.5

31.87

117,500


32.98
$36.74-$36.74
47,334


8.1

36.74

12,734


36.74
 
398,075


 

 

263,541


 
Summary Of RSU's Activity
The following table contains a summary of the Company’s RSU activity for the fiscal years ended April 30, 2015, 2014 and 2013:
 
PERFORMANCE-BASED RSUs

SERVICE-BASED RSUs

TOTAL RSUs

WEIGHTED AVERAGE GRANT
DATE FAIR VALUE
Issued and outstanding, April 30, 2012
237,076


155,728


392,804


$18.75











Granted
129,075


63,025


192,100


$17.76
Cancelled due to non-achievement of performance goals
(24,311
)

—


(24,311
)

$17.09
Settled in common stock
(49,546
)

(58,328
)

(107,874
)

$20.66
Forfeited
(13,189
)

(5,425
)

(18,614
)

$17.91
Issued and outstanding, April 30, 2013
279,105


155,000


434,105


$17.96











Granted
75,600


44,092


119,692


$36.09
Cancelled due to non-achievement of performance goals
(23,384
)

—


(23,384
)

$17.62
Settled in common stock
(74,935
)

(60,310
)

(135,245
)

$19.75
Forfeited
(20,591
)

(15,407
)

(35,998
)

$23.12
Issued and outstanding, April 30, 2014
235,795


123,375


359,170


$22.79











Granted
79,500


40,100


119,600


$30.82
Cancelled due to non-achievement of performance goals
(16,218
)

—


(16,218
)

$36.18
Settled in common stock
(79,407
)

(54,861
)

(134,268
)

$17.45
Forfeited
(8,726
)

(4,764
)

(13,490
)

$27.78
Issued and outstanding, April 30, 2015
210,944


103,850


314,794


$27.15
Stock-Based Compensation Expense Allocated
For the fiscal years ended April 30, 2015, 2014 and 2013 stock-based compensation expense was allocated as follows:
(in thousands)
2015

2014

2013
Cost of sales and distribution
$
518


$
505


$
606

Selling and marketing expenses
954


801


859

General and administrative expenses
2,025


1,989


2,044

Stock-based compensation expense, before income taxes
$
3,497


$
3,295


$
3,509