| Income Taxes | Period [Axis] |
|---|
2015-05-01 - 2016-04-30 |
|---|
Income Taxes | |
Schedule of components of income before income taxes |
The components of income before income taxes are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended April 30,
|
|
|
|
|
2016
|
|
2015
|
|
2014
|
|
|
Domestic
|
|
$
|
8,125
|
|
$
|
2,138
|
|
$
|
14,996
|
|
|
Foreign
|
|
|
(57)
|
|
|
(245)
|
|
|
(100)
|
|
|
Total
|
|
$
|
8,068
|
|
$
|
1,893
|
|
$
|
14,896
|
|
|
Schedule of reconciliation of income tax expense computed using the U.S. federal statutory rates to actual income tax (benefit) expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended April 30,
|
|
|
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|
U.S. federal statutory income tax rate
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
State and local income taxes, net of federal benefit
|
|
(15.3)
|
|
|
(84.4)
|
|
|
(17.0)
|
|
|
R&D and other tax credits
|
|
(49.9)
|
|
|
(172.3)
|
|
|
(21.5)
|
|
|
Valuation allowance
|
|
17.1
|
|
|
96.7
|
|
|
8.7
|
|
|
Uncertain tax position adjustment
|
|
—
|
|
|
(1.9)
|
|
|
4.4
|
|
|
Return to provision adjustments
|
|
6.1
|
|
|
78.3
|
|
|
(0.1)
|
|
|
Permanent items
|
|
(2.6)
|
|
|
(5.2)
|
|
|
(1.3)
|
|
|
Other
|
|
(1.5)
|
|
|
0.9
|
|
|
(0.3)
|
|
|
Effective income tax rate
|
|
(11.1)
|
%
|
|
(52.9)
|
%
|
|
7.9
|
%
|
|
Schedule of (benefit) provision for income taxes |
The components of the (benefit) provision for income taxes are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended April 30,
|
|
|
|
|
2016
|
|
2015
|
|
2014
|
|
|
Current:
|
|
|
|
|
|
|
|
|
|
|
|
Federal
|
|
$
|
1,804
|
|
$
|
573
|
|
$
|
4,307
|
|
|
State
|
|
|
154
|
|
|
(1,292)
|
|
|
(1,879)
|
|
|
|
|
|
1,958
|
|
|
(719)
|
|
|
2,428
|
|
|
Deferred:
|
|
|
|
|
|
|
|
|
|
|
|
Federal
|
|
|
(2,859)
|
|
|
(1,972)
|
|
|
(1,694)
|
|
|
State
|
|
|
3
|
|
|
1,689
|
|
|
444
|
|
|
|
|
|
(2,856)
|
|
|
(283)
|
|
|
(1,250)
|
|
|
Total income tax (benefit) expense
|
|
$
|
(898)
|
|
$
|
(1,002)
|
|
$
|
1,178
|
|
|
Schedule of components of the Company's deferred income tax assets and liabilities |
Significant components of the Company’s deferred income tax assets and liabilities are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
April 30,
|
|
|
|
|
2016
|
|
2015
|
|
|
Deferred income tax assets:
|
|
|
|
|
|
|
|
|
Accrued expenses
|
|
$
|
8,238
|
|
$
|
8,442
|
|
|
Allowances, reserves, and other
|
|
|
1,330
|
|
|
1,543
|
|
|
Unrealized loss on securities
|
|
|
119
|
|
|
—
|
|
|
Net operating loss and credit carry-forwards
|
|
|
9,554
|
|
|
5,692
|
|
|
Intangibles basis
|
|
|
416
|
|
|
464
|
|
|
Total deferred income tax assets
|
|
|
19,657
|
|
|
16,141
|
|
|
Deferred income tax liabilities:
|
|
|
|
|
|
|
|
|
Unrealized gain on securities
|
|
|
—
|
|
|
(237)
|
|
|
Fixed asset basis
|
|
|
(395)
|
|
|
(86)
|
|
|
Total deferred income tax liabilities
|
|
|
(395)
|
|
|
(323)
|
|
|
Valuation allowance
|
|
|
(4,511)
|
|
|
(3,127)
|
|
|
Net deferred tax assets
|
|
$
|
14,751
|
|
$
|
12,691
|
|
|
Summary of activity related to gross unrecognized tax benefits |
The following table summarizes the activity related to the Company’s gross unrecognized tax benefits for the years ended April 30, 2016 and 2015 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
April 30,
|
|
|
|
|
2016
|
|
2015
|
|
|
Balance as of May 1
|
|
$
|
8,190
|
|
$
|
6,334
|
|
|
Increases related to prior year tax positions
|
|
|
581
|
|
|
747
|
|
|
Decreases related to prior year tax positions
|
|
|
—
|
|
|
(12)
|
|
|
Increases related to current year tax positions
|
|
|
1,144
|
|
|
1,158
|
|
|
Decreases related to lapsing of statute of limitations
|
|
|
(10)
|
|
|
(37)
|
|
|
Balance as of April 30,
|
|
$
|
9,905
|
|
$
|
8,190
|
|
|