Income Taxes (Tables)

12 Months Ended

Apr. 30, 2013

Schedule of Provisions (Benefit) for Income Taxes Continuing Operations

The provision (benefit) for income taxes from continuing operations for the fiscal years ended April 30, 2013, 2012 and 2011 consists of the following:


	Fiscal Year Ended April 30,
	2013		2012		2011
Federal—
Current	$	-	$	121	$	-
Deferred		(2,827)		1,468		(8,653)
Deferred benefit of loss carryforwards		-		-		(15,748)

		(2,827)		1,589		(24,401)

State—
Current		1,040		(352)		(599)
Current benefit of loss carryforwards		(22)		-		-
Deferred		(717)		372		2,353
Deferred benefit of loss carryforwards		-		(16)		(1,076)

		301		4		678

	$	(2,526)	$	1,593	$	(23,723)

Schedule of Difference in Provision (Benefit) for Income Taxes

The differences in the provision (benefit) for income taxes and the amounts determined by applying the Federal statutory rate to income before provision (benefit) for income taxes for the years ended April 30, 2013, 2012 and 2011 are as follows:


	Fiscal Year Ended April 30,
	2013		2012		2011
Federal statutory rate		35%		35%		35%
Tax benefit at statutory rate	$	(18,378)	$	(26,638)	$	(9,341)
State income taxes, net of federal benefit		(1,076)		(3,050)		281
Decrease in valuation allowance due to BBI acquisition		(5,084)		-		-
Other increase (decrease) in valuation allowance		22,510		27,247		(14,454)
Non-deductible impairment of investment in GreenFiber		-		3,738		-
Non-deductible GreenFiber goodwill impairment and equity income in subsidiaries		180		1,182		-
Tax credits		(660)		(650)		(637)
Non-deductible expenses		494		823		408
Non-deductible stock option charges		-		73		107
Other, net		(512)		(1,132)		(87)

	$	(2,526)	$	1,593	$	(23,723)

Schedule of Deferred Tax Assets and Liabilities

Deferred income taxes reflect the impact of temporary differences between the amounts of assets and liabilities recognized for financial reporting purposes and such amounts recognized for income tax purposes. Deferred tax assets and liabilities consist of the following at April 30, 2013 and 2012:


	April 30,
	2013		2012
Deferred tax assets:
Net operating loss carryforwards	$	34,217	$	9,724
Accrued expenses and reserves		29,884		28,383
Book over tax depreciation of property and equipment		19,881		24,899
Alternative minimum tax credit carryforwards		3,330		3,330
General business tax credit carryforwards		2,095		1,438

Unrealized loss on commodity hedges		1,852		688
Stock awards		1,177		1,140
Deferred revenue		-		218
Other		964		370

Total deferred tax assets		93,400		70,190
Less: valuation allowance		(70,352)		(50,700)

Total deferred tax assets after valuation allowance		23,048		19,490

Deferred tax liabilities:
Amortization of intangibles		(25,973)		(21,114)
Other		(143)		-

Total deferred tax liabilities		(26,116)		(21,114)

Net deferred tax (liability) asset	$	(3,068)	$	(1,624)

Schedule of Reconciliation of Gross Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for the fiscal years ended April 30, 2013 and 2012 are as follows:


	Fiscal Year Ended April 30,
	2013		2012
Unrecognized tax benefits at beginning of period	$	4,447	$	4,932
Gross increases for tax positions of prior years		543		42
Gross decreases for tax positions of prior years		(26)		(45)
Reductions resulting from lapse of statute of limitations		(655)		(482)
Settlements		(430)		-

Unrecognized tax benefits at end of period	$	3,879	$	4,447