Defined Benefit Pension Plans

6 Months Ended

Oct. 31, 2015

Compensation and Retirement Disclosure [Abstract]

E. Defined Benefit Pension Plans

The Company has non-contributory defined benefit pension plans. These plans were amended as of April 30, 2005, no further benefits have been, or will be, earned under the plans, subsequent to the amendment date, and no additional participants will be added to the plans. Contributions of $64,000 were paid to the plans during the six months ended October 31, 2015 and the Company does not expect any contributions to be paid to the plans during the remainder of the fiscal year. The Company did not make any contributions to the plans during the six months ended October 31, 2014.

Pension expense consisted of the following (in thousands):


	Three months ended October 31, 2015			Three months ended October 31, 2014
Service cost	$	-0-		$	-0-
Interest cost		230			225
Expected return on plan assets		(344	)		(337	)
Recognition of net loss		294			233

Net periodic pension expense	$	180		$	121


	Six months ended October 31, 2015			Six months ended October 31, 2014
Service cost	$	-0-		$	-0-
Interest cost		460			447
Expected return on plan assets		(688	)		(662	)
Recognition of net loss		588			467

Net periodic pension expense	$	360		$	252