Defined Benefit Pension Plans

9 Months Ended

Jan. 31, 2016

Compensation and Retirement Disclosure [Abstract]

F. 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 nine months ended January 31, 2016, and the Company does not expect any contributions to be paid to the plans during the remainder of the fiscal year. Contributions of $775,000 were made during the nine months ended January 31, 2015.

Pension expense consisted of the following (in thousands):


	Three months ended January 31, 2016			Three months ended January 31, 2015
Service cost	$	-0-		$	-0-
Interest cost		224			223
Expected return on plan assets		(334	)		(331	)
Recognition of net loss		329			233

Net periodic pension expense	$	219		$	125


	Nine months ended January 31, 2016			Nine months ended January 31, 2015
Service cost	$	-0-		$	-0-
Interest cost		684			670
Expected return on plan assets		(1,022	)		(993	)
Recognition of net loss		917			700

Net periodic pension expense	$	579		$	377