Treasury Stock and Repurchase Program:

9 Months Ended

Jan. 31, 2012

Note 10 - Treasury Stock and Repurchase Program:

On January 20, 2011, the Company’s Board of Directors approved the repurchase of shares of the Company’s common stock, at such times and prices as management determined to be advisable up to an aggregate purchase amount of $3,200,000. The repurchase authorization extended through January 15, 2012, unless further extended or earlier terminated by the Board of Directors. The repurchase program authorized on January 20, 2011, expired on January 15, 2012 and was not renewed by the Company’s Board of Directors. The Company repurchased an aggregate of 85,219 common shares at a total cost of $ 1,036,000 under the plan approved on January 20, 2011.

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, 2011 (1)		25,119		$	444	$	17.67	$	3,110
Purchases effected in open market during the
quarters ended:
July 31, 2011		11,700		$	158	$	13.53	$	2,952
October 31, 2011		66,800		$	788	$	11.78	$	2,165
January 31, 2012		-		$	-	$	-	$	-
Balance as of January 31, 2012		103,619		$	1,390	$	13.41

(1) Includes the balance of 18,400 shares with a total average cost of $354,000 that were acquired prior to the repurchase program authorized in January 2011.