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v3.24.2

Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended
--- | ---
Apr. 30, 2024 | Apr. 30, 2023 | Apr. 30, 2022
Cash flows from operating activities: |  |  |
Net income | $ 19,016,000 | $ 18,069,000 | $ 23,822,000
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
Depreciation and amortization | 1,409,000 | 1,349,000 | 1,336,000
Investment (gains)/losses | (287,000) | 125,000 | 1,402,000
Non-voting profits interest in EAM Trust | (1,382,000) | (734,000) | (2,142,000)
Non-voting revenues interest in EAM Trust | (11,900,000) | (10,397,000) | (15,899,000)
Revenues distribution received from EAM Trust | 10,900,000 | 11,284,000 | 16,608,000
Profits distributions received from EAM Trust | 1,023,000 | 1,043,000 | 2,439,000
Full forgiveness of SBA, PPP loan | 0 | 0 | (2,331,000)
Deferred rent | (1,344,000) | (1,240,000) | (1,087,000)
Deferred income taxes | 92,000 | 20,000 | (89,000)
Changes in operating assets and liabilities: |  |  |
Unearned revenue | (692,000) | (800,000) | (1,315,000)
Accounts payable & accrued expenses | 167,000 | (51,000) | (763,000)
Accrued salaries | 59,000 | (176,000) | (26,000)
Accrued taxes on income | (462,000) | 185,000 | 321,000
Prepaid and refundable income taxes | 216,000 | 163,000 | 28,000
Prepaid expenses and other current assets | 303,000 | (215,000) | 34,000
Accounts receivable | 814,000 | (447,000) | 2,308,000
Total adjustments | (1,084,000) | 109,000 | 824,000
Net cash provided by operating activities | 17,932,000 | 18,178,000 | 24,646,000
Cash flows from investing activities: |  |  |
Proceeds from sales of equity securities | 1,129,000 | 4,706,000 | 12,039,000
Purchases of equity securities | (2,639,000) | (1,732,000) | (7,508,000)
Proceeds from sales of Fixed Income securities | 37,114,000 | 9,907,000 | 2,496,000
Purchases of Fixed Income securities | (45,575,000) | (38,857,000) | (10,405,000)
Acquisition of property and equipment | (15,000) | (30,000) | (11,000)
Expenditures for capitalized software | (62,000) | (110,000) | 0
Net cash used in investing activities | (10,048,000) | (26,116,000) | (3,389,000)
Cash flows from financing activities: |  |  |
Purchase of treasury stock at cost | (523,000) | (4,704,000) | (2,484,000)
Dividends paid | (10,561,000) | (9,471,000) | (8,405,000)
Net cash used in financing activities | (11,084,000) | (14,175,000) | (10,889,000)
Net change in cash and cash equivalents | (3,200,000) | (22,113,000) | 10,368,000
Cash, cash equivalents and restricted cash at beginning of year | 7,895,000 | 30,008,000 | 19,640,000
Cash, cash equivalents and restricted cash at end of year | $ 4,695,000 | $ 7,895,000 | $ 30,008,000

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