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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Apr. 30, 2017

Summary of Stock Option Activity

The following tables summarize stock option activity for fiscal 2017, 2016, and 2015:

						2017								2016								2015
						Weighted-								Weighted-								Weighted-
						Average								Average								Average
						Exercise								Exercise								Exercise
		Shares				Price				Shares				Price				Shares				Price
outstanding at beginning
of year			83,600			$	8.37				140,100			$	6.49				153,950			$	6.70
granted			-				-				-				-				-				-
exercised			(68,000	)			8.65				(54,500	)			3.68				(10,100	)			9.31
canceled/expired			-				-				(2,000	)			4.59				(3,750	)			7.27
outstanding at end of year			15,600				7.14				83,600				8.37				140,100				6.49

Summary of Stock Option Activity by Range of Exercise Prices

Options Outstanding

Options Exercisable

Range of

Number Outstanding

Weighted-Avg. Remaining

Weighted-Avg.

Number Exercisable

Weighted-Avg.

Exercise Prices

at 4/30/17

Contractual Life

Exercise Price

at 4/30/17

Exercise Price

$7.08 - $8.75

15,600

1.1

$

7.14

15,600

$

7.14

Summary of Time Vested Restricted Stock Activity

The following table summarizes the time vested restricted stock activity for fiscal years 2017, 2016, and 2015:

		2017 Shares				2016 Shares				2015 Shares
outstanding at beginning of year			-				-				61,668
granted			1,200				-				-
vested			-				-				(61,668	)
outstanding at end of year			1,200				-				-

Summary of Vested Performance Based Restricted Stock Units

The following table summarizes information related to our performance based restricted stock units that vested during fiscal years 2017 and 2016. No performance based restricted stock units vested during fiscal 2015:

Fiscal Year		Common Stock Shares Vested				(1) Weighted Average Fair Value				Price Per Share
Fiscal 2017 - Management			37,192			$	637			$	17.12	(2)
Fiscal 2017 - Non-Employee			12,000			$	345			$	28.77	(3)
Fiscal 2016 - Management			115,855			$	1,183			$	10.21	(2)

(1) Dollar amounts are in thousands.

(2) Price per share represents the closing price of our common stock on the date of grant.

(3) The respective grant vested during the first quarter of fiscal 2017. Accordingly, the price per share represents the closing price of our common stock on the date the award vested.

Management [Member]

Summary of Grants of Performance Based Restricted Stock Units

The following table summarizes information related to our grants of performance based restricted stock units associated with key members of management for fiscal years 2017, 2016, and 2015:

		(1) Restricted Stock				(2) Price Per			Vesting
Date of Grant		Units Awarded				Share			Period
July 14, 2016			107,880			$	28.00		3 years
July 15, 2015			107,554			$	32.23		3 years
June 24, 2014			102,845			$	17.70		3 years

(1) Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements.

(2) Price per share represents the closing price of our common stock on the date of grant.

Non-employee [Member]

Summary of Grants of Performance Based Restricted Stock Units

The following table summarizes information related to our grants of performance based restricted stock units associated with a non-employee for fiscal years 2017, 2016, and 2015:

Date of Grant		(1) Restricted Stock Units Awarded				(2) Price Per Share			Vesting Period
July 14, 2016			11,549			$	32.10	(2)	3 years
July 15, 2015			10,364			$	32.10	(2)	3 years
March 3, 2015			16,000			$	32.10	(2)	28 months
March 3, 2015			12,000			$	28.77	(3)	16 months

(1) Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements.

(2) The respective grant was unvested at the end of our reporting period. Accordingly, the price per share represents the closing price of our common stock on April 30, 2017, the end of our reporting period.

(3) The respective grant vested during the first quarter of fiscal 2017. Accordingly, the price per share represents the closing price of our common stock on the date the award vested.

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