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Income Taxes
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6 Months Ended |
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Oct. 31, 2014
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| Income Taxes | 8. Income Taxes The Company computes its interim provision for income taxes by applying the estimated annual effective tax rate to income from operations and adjusts the provision for discrete tax items occurring in the period. For continuing operations, the Company’s effective tax rate for the three months ended October 31, 2014 was (2.7) percent compared to (0.9) percent for the three months ended October 31, 2013. For continuing operations, the Company’s effective tax rate for the six months ended October 31, 2014 was (1.4) percent compared to 0.8 percent for the six months ended October 31, 2013. The negative tax rates for the three and six months ended October 31, 2014 were primarily attributable to estimated foreign and state income tax expense compared to a consolidated pre-tax book loss. During the six months ended October 31, 2013, a benefit of $0.4 million was recorded as a discrete item related to the 2013 Texas state research and development credit which was enacted in the first quarter of the prior fiscal year. |