|
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
|
9 Months Ended |
|
Jan. 31, 2014
|
Jan. 31, 2013
|
| Cash Flows from Operating Activities: |
|
|
| Net income |
$ 1,486,000 |
$ 968,000 |
| Adjustments to reconcile net income to net cash (used in) provided by operating activities: |
|
|
| Share-based compensation expense |
142,000 |
89,000 |
| Depreciation |
290,000 |
258,000 |
| Amortization |
154,000 |
154,000 |
| Provision for doubtful accounts |
45,000 |
23,000 |
| Deferred income taxes |
(99,000) |
93,000 |
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(597,000) |
(798,000) |
| Inventories |
(1,602,000) |
167,000 |
| Income tax payable/receivable |
347,000 |
120,000 |
| Accounts payable |
(109,000) |
310,000 |
| Accrued expenses |
17,000 |
(225,000) |
| Other |
(82,000) |
(90,000) |
| Net cash (used in) provided by operating activities |
(8,000) |
1,069,000 |
| Cash Flows from Investing Activities: |
|
|
| Purchases of property and equipment |
(428,000) |
(214,000) |
| Net cash (used in) investing activities |
(428,000) |
(214,000) |
| Cash Flows from Financing Activities: |
|
|
| Principal payments on note payable to bank |
|
(750,000) |
| Purchases of common stock for repurchase program |
(703,000) |
(140,000) |
| Proceeds from the exercise of stock options |
63,000 |
59,000 |
| Principal payments on long-term debt |
(138,000) |
(136,000) |
| Net cash (used in) financing activities |
(778,000) |
(967,000) |
| Net (decrease) in cash and cash equivalents |
(1,214,000) |
(112,000) |
| Cash and cash equivalents at beginning of period |
1,464,000 |
136,000 |
| Cash and cash equivalents at end of period |
250,000 |
24,000 |
| Supplemental Disclosure of Cash Flow Information: |
|
|
| Cash paid during the period for interest |
43,000 |
53,000 |
| Cash paid during the period for income taxes |
$ 679,000 |
$ 382,000 |