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Long-term Debt and Other Credit Arrangements
3 Months Ended
Jul. 31, 2019
Debt Disclosure [Abstract]  
Long-term Debt and Other Credit Arrangements
Long-term Debt and Other Credit Arrangements

At July 31, 2019, advances of $13.3 million were outstanding under the Company’s bank revolving credit facility, compared to advances of $9.5 million outstanding as of April 30, 2019. The Company had standby letters of credit outstanding of $210,000 at July 31, 2019 compared to standby letters of credit outstanding of $5.2 million at April 30, 2019. Amounts available under the $20 million revolving credit facility were $6.5 million and $5.3 million at July 31, 2019 and April 30, 2019, respectively.  At April 30, 2019, the Company was not in compliance with all of the financial covenants. The Company received a waiver from its lender for this noncompliance pursuant to a waiver letter executed on June 19, 2019 ("the Waiver Letter"). In connection with the Waiver Letter, the Company entered into a Security Agreement pursuant to which the Company granted a security interest in substantially all of its assets to secure its obligations under the Loan Agreement. On July 9, 2019, the Company entered into an agreement to amend the Loan Agreement and the Line of Credit to effect a change in the financial covenants set forth in the Loan Agreement.  The amendment does not change the amount of availability provided by Company’s Line of Credit. At July 31, 2019, the Company was in compliance with all the financial covenants under its revolving credit facility.