Income Tax	6 Months Ended
Oct. 31, 2020
Income Tax [Abstract]
Income Tax	Note F - Income Tax The income tax expense was $442,943 for the three month period ended October 31, 2020 compared to an income tax expense of $316,106 for the same period in the prior fiscal year. The Company’s effective tax rate was 41.40% and 32.35% for the quarters ended October 31, 2020 and 2019, respectively. The income tax expense was $222,109 for the six month period ended October 31, 2020 compared to an income tax expense of $563,221 for the same period in the prior fiscal year. The Company’s effective tax rate was (429.63)% and 35.52% for the six month period ended October 31, 2020 and 2019, respectively. The increase in income tax expense and effective tax rate for the three month period ended October 31, 2020 compared to the same period in the previous year is due to an increase in income and variations in income earned by jurisdiction in the current period compared to the same period in the previous year. The decrease in income tax expense and effective tax rate for the six month period ended October 31, 2020 compared to the same period in the previous year is due to a decrease in income in the current six month period compared to the same period in the previous year. The negative effective tax rate in the current six month period is due to an overall pre-tax loss recognized in the current period but recognition of tax expense due to the mix of income by jurisdiction. As described in Note E, the Company received a PPP Loan under the CARES Act of $6,282,963. For federal income tax purposes, the CARES Act expressly provides that any forgiveness or cancellation of all or part of such loans will not be treated as income for tax purposes. It is expected, however, that if the loan is deemed forgiven any deductions for the covered expenses that gave rise to the loan forgiveness will be disallowed to prevent a double tax benefit. As of October 31, 2020, the loan has not been forgiven and thus the expenses have not been disallowed for federal income tax purposes. Note F - Income Tax - Continued On November 18, 2020 the IRS issued Revenue Ruling 2020-27 which holds that a taxpayer’s covered expenses are not deductible if the taxpayer reasonably expects the loan to be forgiven. If the Company’s eligible expenses are deemed nondeductible prior to loan forgiveness, it is expected that the Company’s current tax liability will increase and that a deferred tax asset will be established related to those expenses. The Company has not changed its plans to indefinitely reinvest the earnings of the Company’s foreign subsidiaries. The cumulative amount of unremitted earnings for which U.S. income taxes have not been recorded is $4,681,000 as of October 31, 2020.

Note F - Income Tax

The income tax expense was $442,943 for the three month period ended October 31, 2020 compared to an income tax expense of $316,106 for the same period in the prior fiscal year. The Company’s effective tax rate was 41.40% and 32.35% for the quarters ended October 31, 2020 and 2019, respectively. The income tax expense was $222,109 for the six month period ended October 31, 2020 compared to an income tax expense of $563,221 for the same period in the prior fiscal year. The Company’s effective tax rate was (429.63)% and 35.52% for the six month period ended October 31, 2020 and 2019, respectively. The increase in income tax expense and effective tax rate for the three month period ended October 31, 2020 compared to the same period in the previous year is due to an increase in income and variations in income earned by jurisdiction in the current period compared to the same period in the previous year. The decrease in income tax expense and effective tax rate for the six month period ended October 31, 2020 compared to the same period in the previous year is due to a decrease in income in the current six month period compared to the same period in the previous year. The negative effective tax rate in the current six month period is due to an overall pre-tax loss recognized in the current period but recognition of tax expense due to the mix of income by jurisdiction.

As described in Note E, the Company received a PPP Loan under the CARES Act of $6,282,963. For federal income tax purposes, the CARES Act expressly provides that any forgiveness or cancellation of all or part of such loans will not be treated as income for tax purposes. It is expected, however, that if the loan is deemed forgiven any deductions for the covered expenses that gave rise to the loan forgiveness will be disallowed to prevent a double tax benefit. As of October 31, 2020, the loan has not been forgiven and thus the expenses have not been disallowed for federal income tax purposes.

Note F - Income Tax - Continued

On November 18, 2020 the IRS issued Revenue Ruling 2020-27 which holds that a taxpayer’s covered expenses are not deductible if the taxpayer reasonably expects the loan to be forgiven. If the Company’s eligible expenses are deemed nondeductible prior to loan forgiveness, it is expected that the Company’s current tax liability will increase and that a deferred tax asset will be established related to those expenses. The Company has not changed its plans to indefinitely reinvest the earnings of the Company’s foreign subsidiaries. The cumulative amount of unremitted earnings for which U.S. income taxes have not been recorded is $4,681,000 as of October 31, 2020.