Document And Entity Information
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9 Months Ended | |
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Jan. 31, 2013
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Mar. 11, 2013
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Document and Entity Information [Abstract] | ||
Entity Registrant Name | FREQUENCY ELECTRONICS INC | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --04-30 | |
Entity Common Stock, Shares Outstanding | 8,436,007 | |
Amendment Flag | false | |
Entity Central Index Key | 0000039020 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Smaller Reporting Company | |
Entity Well-known Seasoned Issuer | No | |
Document Period End Date | Jan. 31, 2013 | |
Document Fiscal Year Focus | 2013 | |
Document Fiscal Period Focus | Q3 |
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If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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End date of current fiscal year in the format --MM-DD. No definition available.
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This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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Cash Surrender Value Of Life Insurance And Cash Held In Trust No definition available.
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Deferred Rent And Other Long Term Liabilities Noncurrent No definition available.
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Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid more than one year (or one operating cycle, if longer) after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount included in cost of uncompleted contracts in excess of related billings, or unbilled accounts receivable, which is expected to be collected within a year within one year (or one operating cycle, if longer) from the date of the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Aggregate carrying value as of the balance sheet date of the liabilities for all deferred compensation arrangements payable beyond one year (or the operating cycle, if longer). No definition available.
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Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount after allocation of valuation allowances of noncurrent deferred tax asset attributable to deductible temporary differences and carryforwards. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Carrying amount of finite-lived intangible assets, indefinite-lived intangible assets and goodwill. Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Intangible assets are assets, not including financial assets, lacking physical substance. No definition available.
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Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Total debt and equity financial instruments including: (1) securities held-to-maturity, (2) trading securities, and (3) securities available-for-sale which are intended to be held for less than one year or the normal operating cycle, whichever is longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The total of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Condensed Consolidated Balance Sheets (Parentheticals) (USD $)
In Thousands, except Share data, unless otherwise specified |
Jan. 31, 2013
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Apr. 30, 2012
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Allowance for doubtful accounts (in Dollars) | $ 355 | $ 400 |
Preferred stock, par value (in Dollars per share) | $ 1.00 | $ 1.00 |
Common stock par value (in Dollars per share) | $ 1.00 | $ 1.00 |
Common stock, shares issued (in Shares) | 9,163,940 | 9,163,940 |
Treasury stock, shares (in Shares) | 732,554 | 800,787 |
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A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Condensed Consolidated Statements of Income and Comprehensive Income (USD $)
In Thousands, except Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
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Jan. 31, 2013
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Jan. 31, 2012
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Jan. 31, 2013
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Jan. 31, 2012
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Revenues | $ 17,137 | $ 15,448 | $ 51,391 | $ 46,442 |
Cost of revenues | 10,387 | 9,233 | 31,928 | 27,970 |
Gross margin | 6,750 | 6,215 | 19,463 | 18,472 |
Selling and administrative expenses | 3,887 | 3,390 | 10,883 | 10,017 |
Research and development expense | 1,113 | 882 | 3,731 | 2,954 |
Operating profit | 1,750 | 1,943 | 4,849 | 5,501 |
Other income (expense): | ||||
Investment income | 190 | 214 | 509 | 473 |
Equity loss | (335) | (451) | ||
Impairment of investment in and loans receivable from affiliate | (350) | |||
Interest expense | (53) | (26) | (156) | (77) |
Other expense, net | (67) | (222) | (73) | (132) |
Income before provision for income taxes | 1,820 | 1,574 | 5,129 | 4,964 |
Provision for income taxes | 300 | 500 | 1,400 | 1,770 |
Net income | 1,520 | 1,074 | 3,729 | 3,194 |
Net income per common share | ||||
Basic (in Dollars per share) | $ 0.18 | $ 0.13 | $ 0.44 | $ 0.38 |
Diluted (in Dollars per share) | $ 0.18 | $ 0.13 | $ 0.43 | $ 0.37 |
Weighted average shares outstanding | ||||
Basic (in Shares) | 8,424,162 | 8,323,912 | 8,401,348 | 8,319,740 |
Diluted (in Shares) | 8,603,774 | 8,508,297 | 8,583,616 | 8,537,591 |
Comprehensive Income | ||||
Net income | 1,520 | 1,074 | 3,729 | 3,194 |
Other comprehensive income (loss): | ||||
Foreign currency translation adjustment | 191 | (996) | 46 | (1,300) |
Change in market value of marketable securities | (87) | 194 | 282 | 26 |
Deferred tax effect of change in marketable securities | 31 | (70) | (103) | (9) |
Total other comprehensive income (loss) | 135 | (872) | 225 | (1,283) |
Comprehensive income | $ 1,655 | $ 202 | $ 3,954 | $ 1,911 |
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The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The net result for the period of deducting operating expenses from operating revenues. No definition available.
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Net of tax and reclassification adjustments of the change in the balance sheet adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity. Also includes the following: gain (loss) on foreign currency forward exchange contracts; foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; and gain (loss) on a derivative instrument or nonderivative financial instrument that may give rise to a foreign currency transaction gain (loss) that has been designated and qualified as a hedging instrument for hedging of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Net of tax amount of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Net of tax amount of unrealized holding gain (loss) before reclassification adjustments and transfers on available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tax effect of unrealized holding gain (loss) before reclassification adjustments and transfers on available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Cash and Cash Equivalents, Period Increase (Decrease) Before Adjustment No definition available.
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The effect of exchange rate changes on cash balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period of all assets and liabilities used in operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow from purchases of trading, available-for-sale securities and held-to-maturity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow or outflow associated with long-term loans for related parties where one party can exercise control or significant influence over another party, including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Proceeds from (Payments for) Advances to Affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with the aggregate amount received by the entity through sale or maturity of marketable securities (held-to-maturity or available-for-sale) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. No definition available.
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NOTE A - CONSOLIDATED FINANCIAL STATEMENTS
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9 Months Ended |
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Jan. 31, 2013
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Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] |
NOTE
A – CONSOLIDATED FINANCIAL STATEMENTS
In
the opinion of management of Frequency Electronics, Inc.
(“the Company”), the accompanying unaudited
condensed consolidated interim financial statements reflect
all adjustments (which include only normal recurring
adjustments) necessary to present fairly, in all material
respects, the consolidated financial position of the
Company as of January 31, 2013 and the results of its
operations and cash flows for the nine and three months
ended January 31, 2013 and 2012. The April 30,
2012 condensed consolidated balance sheet was derived from
audited financial statements. Certain
information and footnote disclosures normally included in
financial statements prepared in accordance with generally
accepted accounting principles have been condensed or
omitted. It is suggested that these condensed
consolidated financial statements be read in conjunction
with the financial statements and notes thereto included in
the Company's April 30, 2012 Annual Report to Stockholders
on Form 10-K. The results of operations for such
interim periods are not necessarily indicative of the
operating results for the full fiscal year.
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X | ||||||||||
- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NOTE B - EARNINGS PER SHARE
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Earnings Per Share [Text Block] |
NOTE
B – EARNINGS PER SHARE
Reconciliation
of the weighted average shares outstanding for basic and
diluted Earnings Per Share are as follows:
The
computation of diluted earnings per share excludes those
options and stock appreciation rights (“SARS”)
with an exercise price in excess of the average market
price of the Company’s common shares during the
periods presented. The inclusion of such options
and SARS in the computation of earnings per share would
have been antidilutive. The number of excluded
options and SARS were:
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X | ||||||||||
- Definition
The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NOTE C - COSTS AND ESTIMATED EARNINGS IN EXCESS OF BILLINGS, NET
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Long-term Contracts or Programs Disclosure [Text Block] |
NOTE
C – COSTS AND ESTIMATED EARNINGS IN EXCESS OF
BILLINGS, NET
At
January 31, 2013 and April 30, 2012, costs and estimated
earnings in excess of billings, net, consist of the
following:
Such
amounts represent revenue recognized on long-term contracts
that had not been billed at the balance sheet dates or
represent a liability for amounts billed in excess of the
revenue recognized. Amounts are billed to
customers pursuant to contract terms, whereas the related
revenue is recognized on the percentage of completion basis
at the measurement date. In general, the
recorded amounts will be billed and collected or revenue
recognized within twelve months of the balance sheet
date. During the nine and three months ended
January 31, 2013, percentage of completion revenue was
approximately $25.9 million and $8.9 million,
respectively. During the nine and three months
ended January 31, 2012, percentage of completion revenue
was approximately $26.9 million and $9.0 million,
respectively.
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X | ||||||||||
- Definition
The entire disclosure for long-term contracts or programs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NOTE D - TREASURY STOCK TRANSACTIONS
|
9 Months Ended |
---|---|
Jan. 31, 2013
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Treasury Stock [Text Block] |
NOTE
D – TREASURY STOCK TRANSACTIONS
During
the nine month period ended January 31, 2013, the Company
made a contribution of 39,091 shares of its common stock
held in treasury to the Company’s profit sharing plan
and trust under section 401(k) of the Internal Revenue
Code. Such contribution is in accordance with
the Company’s discretionary match of employee
voluntary contributions to this plan. During the
same period, the Company issued 29,142 shares from treasury
upon the exercise of stock options and SARS by certain
employees.
|
X | ||||||||||
- Definition
The entire disclosure for an entity's treasury stock, including the average cost per share, carrying basis for each class of treasury stock, description of share repurchase program authorized by an entity's board of directors, the number of shares repurchased, the cost of the shares repurchased, the remaining maximum dollar value of shares available for repurchase under the program, the treatment of the purchase price in excess of the current market value, number of shares held for each class of treasury stock, and other information necessary to a fair presentation. No definition available.
|
NOTE E - INVENTORIES
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Inventory Disclosure [Text Block] |
NOTE
E – INVENTORIES
Inventories,
which are reported at the lower of cost or market, consist
of the following:
As
of January 31, 2013 and April 30, 2012, approximately $25.9
million and $25.5 million, respectively, of total inventory
is located in the United States, approximately $11.2
million and $8.2 million, respectively, is located in
Belgium and $0.7 million and $0.6 million, respectively, is
located in China.
|
X | ||||||||||
- Definition
The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NOTE F - SEGMENT INFORMATION
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Segment Reporting Disclosure [Text Block] |
NOTE
F – SEGMENT INFORMATION
The
Company operates under three reportable segments based on
the geographic locations of its subsidiaries:
The
FEI-NY segment also includes the operations of the
Company’s wholly-owned subsidiaries, FEI-Elcom Tech
(“FEI-Elcom”) and FEI-Asia. FEI-Asia
functions primarily as a manufacturing facility for the
Company’s commercial product subsidiaries with
minimal sales to outside customers. FEI-Elcom,
in addition to its own product line, provides design and
technical support for the FEI-NY segment’s satellite
business.
The
Company’s Chief Executive Officer measures segment
performance based on total revenues and profits generated
by each geographic location rather than on the specific
types of customers or end- users. Consequently,
the Company determined that the segments indicated above
most appropriately reflect the way the Company’s
management views the business.
The
table below presents information about reported segments
with reconciliation of segment amounts to consolidated
amounts as reported in the statements of income or the
balance sheet for each of the periods. The
January 31, 2012 amounts do not include FEI-Elcom (in
thousands):
|
X | ||||||||||
- Definition
The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note G - INVESTMENT IN MORION, INC.
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9 Months Ended |
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Jan. 31, 2013
|
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Investment Holdings [Text Block] |
NOTE
G – INVESTMENT IN MORION, INC.
The
Company has an investment in Morion, Inc., a privately-held
Russian company, which manufactures high precision quartz
resonators and crystal oscillators. The
Company’s investment consists of 4.6% of
Morion’s outstanding shares, accordingly, the Company
accounts for its investment in Morion on the cost
basis. This investment is included in investment
in affiliates in the accompanying balance sheets.
During
the nine months ended January 31, 2013 and 2012, the
Company acquired product from Morion in the aggregate
amount of approximately $42,000 and $169,000, respectively,
and the Company sold product to Morion in the aggregate
amount of approximately $200,000 and $1.1 million,
respectively. During the three months ended
January 31, 2013 and 2012, the Company acquired product
from Morion in the aggregate amount of approximately
$23,000 and $24,000, respectively, and the Company sold
product to Morion in the aggregate amount of approximately
$103,000 and $63,000, respectively. At January
31, 2013, no amounts were payable to Morion and accounts
receivable from Morion was approximately $92,000.
On
October 22, 2012, the Company entered into an agreement to
license its rubidium oscillator production technology to
Morion. The agreement requires the Company to
sell certain fully-depreciated production equipment
currently owned by the Company and to provide training to
Morion employees to enable Morion to produce a minimum of
5,000 rubidium oscillators per year. Morion will
pay the Company approximately $2.7 million for the license
and the equipment plus 5% royalties on third party sales
for a 5-year period following an initial production
run. During the same 5-year period, the Company
commits to purchase from Morion a minimum of approximately
$400,000 worth of rubidium oscillators per year although
Morion is not obligated to sell that amount to the
Company. In November 2012, Morion paid the
Company
a $925,000 deposit under this agreement. This
amount is considered deferred revenue and is included in
accrued liabilities on the accompanying condensed
consolidated balance sheet. The United States
Department of State has approved the technology transfer
which is expected to be completed within a year from the
date of the agreement.
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X | ||||||||||
- Definition
The entire disclosure for investment holdings. This includes the long positions of investments for the entity. It contains investments in affiliated and unaffiliated issuers. The investments include securities and non securities (i.e. commodities and futures contracts). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
NOTE H - ACQUISITION OF ELCOM TECHNOLOGIES, INC.
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Jan. 31, 2013
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Business Combination Disclosure [Text Block] |
NOTE
H – ACQUISITION OF ELCOM TECHNOLOGIES, INC.
On
February 21, 2012, the Company purchased 74.88% of the
capital stock of Elcom Technologies, Inc.
(“Elcom” and after the acquisition
“FEI-Elcom”). Prior to the
acquisition, the Company had a minority ownership interest
of 25.12% of the capital stock of Elcom. After
the acquisition, the Company owned 100% and changed the
subsidiary’s name to FEI-Elcom Tech,
Inc. The Company acquired Elcom as, in addition
to its own product line, Elcom provides design and
technical support for the Company’s satellite
business, which accounts for a significant amount of the
Company’s consolidated revenue. For the
acquisition, the Company paid approximately $4.1 million to
the shareholders for their shares of common stock and an
additional $910,000 to certain selling shareholders to
settle their outstanding debt with Elcom. In
addition the Company had notes due from Elcom with a fair
value of approximately $1.7 million which was forgiven as
an additional investment in Elcom. Based on the
amounts paid to the Elcom shareholders, the Company
determined that the fair value of Elcom at the date of
acquisition was approximately $7.9 million. The
Company’s determination of the fair value of Elcom at
the date of acquisition included an adjustment for a
control premium of 15% based on the total value at the date
of acquisition.
The
fair value of Elcom at the date of the transaction was
allocated to $4.6 million of net tangible assets, deferred
taxes of $2.6 million, and approximately $700,000 of
intangible assets, including goodwill of approximately
$400,000. None of the goodwill is expected to be
deductible for income tax purposes.
The
FEI-Elcom transaction was accounted for as a “step
acquisition” in accordance with generally accepted
accounting principles. Accordingly, the Company
remeasured its previously held equity interest in Elcom and
adjusted it to fair value. The difference
between the fair value of the Company’s ownership in
Elcom and the Company’s carrying value of its
investment resulted in the recognition of a gain of
approximately $730,000 at the date of the acquisition
during the fourth quarter of fiscal year 2012.
Prior
to the acquisition of Elcom, the Company recorded its share
of Elcom’s income or loss on the equity
method. In addition, periodically the Company
measured the market value of Elcom based on comparisons to
comparable companies as well as Elcom’s forecasts of
future financial results. During the nine and
three months ended January 31, 2012, in addition to its
equity share in the income or loss of Elcom during the
year, the Company determined that its investment was
impaired and the collectibility of the notes receivable may
be reduced. Accordingly, the Company recorded an
investment impairment charge in the amount $200,000 and an
additional $150,000 allowance against the notes
receivable.
During
the nine and three months ended January 31, 2012, prior to
the acquisition of Elcom, the Company sold product to Elcom
in the amount of $4,000 and acquired technical services
from Elcom in the aggregate amount of approximately $16,000
and zero, respectively, and recorded interest income on
notes to Elcom in the amount of approximately $75,000 and
$32,000, respectively.
The
accompanying consolidated statements of income for the nine
and three months ended January 31, 2013 include the results
of operations of FEI-Elcom. The pro forma
financial information set forth below is based upon the
Company’s historical consolidated statements of
income for the nine and three months ended January 31,
2012, adjusted to give effect to the acquisition of
FEI-Elcom as if it had occurred at the beginning of the
fiscal year. The financial information includes
the results of operations of FEI-Elcom for the nine month
period from April 1, 2011 to December 31, 2011 and for the
three month period from October 1, 2011 to December 31,
2011.
The
pro forma financial information is presented for
informational purposes only and may not be indicative of
what actual results of operations would have been had the
acquisition occurred on May 1, 2011, nor does it purport to
represent the results of operations for future
periods. The pro forma results of operations do
not include the gain on the Company’s original
investment of $730,000 or the impairment of the
Company’s investment in Elcom during fiscal year
2012.
|
X | ||||||||||
- Definition
The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NOTE I - FAIR VALUE OF FINANCIAL INSTRUMENTS
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Jan. 31, 2013
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Fair Value Disclosures [Text Block] |
NOTE
I – FAIR VALUE OF FINANCIAL INSTRUMENTS
The
cost, gross unrealized gains, gross unrealized losses and
fair market value of available-for-sale securities at
January 31, 2013 and April 30, 2012 are as follows (in
thousands):
The
following table presents the fair value and unrealized
losses, aggregated by investment type and length of time
that individual securities have been in a continuous
unrealized loss position (in thousands):
The
Company regularly reviews its investment portfolio to
identify and evaluate investments that have indications of
possible impairment. The Company does not
believe that its investments in marketable securities with
unrealized losses at January 31, 2013 are
other-than-temporary due to market volatility of the
security’s fair value, analysts’ expectations
and the Company’s ability to hold the securities for
a period of time sufficient to allow for any anticipated
recoveries in market value.
During
the nine and three months ended January 31, 2013, the
Company sold or redeemed available-for-sale securities in
the approximate amount of $2.5 million and $500,000,
respectively, and realized gains of approximately $40,000
during the fiscal year 2013 periods. During the
nine and three months ended January 31, 2012, the Company
sold or redeemed available-for-sale securities in the
approximate amount of $6.1 million and $1.0 million,
respectively, and realized gains of $19,000 and $11,500,
respectively. Gains or losses on marketable
securities transactions are included in the determination
of net income for each fiscal period.
Maturities
of fixed income securities classified as available-for-sale
at January 31, 2013 are as follows, at cost (in
thousands):
The
fair value accounting framework provides a fair value
hierarchy that prioritizes the inputs to valuation
techniques used to measure fair value. The
hierarchy gives the highest priority to unadjusted quoted
prices in active markets for identical assets or
liabilities (level 1 measurements) and the lowest priority
to unobservable inputs (level 3
measurements). The three levels of the fair
value hierarchy are described below:
The
asset’s or liability’s fair value measurement
level within the fair value hierarchy is based on the
lowest level of any input that is significant to the fair
value measurement. Valuation techniques used
need to maximize the use of observable inputs and minimize
the use of unobservable inputs. All of the
Company’s investments in marketable securities are
valued on a Level 1 basis.
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X | ||||||||||
- Definition
The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NOTE J - VALUATION ALLOWANCE ON DEFERRED TAX ASSETS
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9 Months Ended |
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Jan. 31, 2013
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Income Tax Disclosure [Text Block] |
NOTE
J – VALUATION ALLOWANCE ON DEFERRED TAX ASSETS
During
fiscal years 2012 and 2011, the Company reduced the
valuation allowance on the deferred tax assets of its U.S.
subsidiaries. Consequently, for the nine and
three months ended January 31, 2013 and 2012, the Company
recorded provisions for income taxes based on both current
taxes due in the United States as well as the tax provision
or benefit to be realized from temporary tax
differences. As of January 31, 2013 and April
30, 2012, the remaining deferred tax asset valuation
allowance is approximately $1.5 million and is primarily
related to deferred tax assets of the Company’s
non-U.S.-based subsidiaries.
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X | ||||||||||
- Definition
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NOTE K - SPECIAL DIVIDEND
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9 Months Ended |
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Jan. 31, 2013
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Stockholders' Equity Note Disclosure [Text Block] |
NOTE
K – SPECIAL DIVIDEND
On
December 12, 2012, the Company’s Board of Directors
declared a special cash dividend of $0.20 per share,
payable on December 31, 2012 to shareholders of record on
December 24, 2012.
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X | ||||||||||
- Definition
The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NOTE L - RECENTLY ISSUED ACCOUNTING PROUNCEMENTS
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9 Months Ended |
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Jan. 31, 2013
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Description of New Accounting Pronouncements Not yet Adopted [Text Block] |
NOTE
L – RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
In
June 2011, the Financial Accounting Standards Board
(“FASB”) issued Accounting Standards Update
(“ASU”) No. 2011-05 “Comprehensive
Income (Topic 220): Presentation of Comprehensive
Income” (“ASU No.
2011-05”). Under ASU No. 2011-5, an
entity has the option to present the total of
comprehensive income, the components of net income, and
the components of other comprehensive income either in a
single continuous statement of comprehensive income or in
two separate but consecutive
statements. Regardless of which option is
selected, an entity is required to present each component
of net income along with total net income, each component
of other comprehensive income along with a total for
other comprehensive income, and a total amount for
comprehensive income. ASU No. 2011-5
eliminates the option (previously utilized by the
Company) to present the components of other comprehensive
income as part of the statement of changes in
stockholders’ equity. ASU No. 2011-5 was
adopted by the Company at the beginning of the current
fiscal year, and affects only the presentation of
financial statements and has no financial impact on the
Company’s Condensed Consolidated Financial
Statements.
In
February 2013, the FASB issued Accounting Standard Update
No. 2013-02, Other
Comprehensive Income. The amendments
require an entity to provide information about the
amounts reclassified out of accumulated other
comprehensive income by component. In
addition, an entity is required to present, either on the
face of the statement where net income is presented or in
the notes, significant amounts reclassified out of
accumulated other comprehensive income by the respective
line items of net income but only if the amount
reclassified is required under U.S. GAAP to be
reclassified to net income in its entirety in the same
reporting period. For other amounts that are
not required under U.S. GAAP to be reclassified in their
entirety to net income, an entity is required to
cross-reference to other disclosures required under U.S.
GAAP that provide additional detail about those
amounts. This ASU is effective for periods
beginning after December 15, 2012. The Company
does not expect adoption of ASU 2013-02 to have a
material effect on its financial
statements.
In
July 2012, the FASB issued ASU No. 2012-02, Intangibles
– Goodwill and Other (Topic 350): Test
Indefinite-Lived Intangible Assets for
Impairment. Under the
requirements of ASU 2012-02 an entity has the option to
assess qualitative factors when testing indefinite-lived
intangible assets annually to determine whether it is
more likely than not that the asset is not
impaired. An entity also has the option to
bypass the qualitative assessment for any
indefinite-lived intangible asset in any period and
proceed directly to performing the quantitative
impairment test or resume performing the qualitative
assessment in any subsequent period. If, after
assessing the totality of events and circumstances, an
entity concludes that it is more likely than not that the
indefinite-lived intangible asset is impaired, then it is
required to determine the fair value of the
indefinite-lived intangible asset and perform the
quantitative impairment test by comparing the fair value
with the carrying amount in accordance with Subtopic
350-30. ASU 2012-02 is effective for
annual and interim impairment tests performed for fiscal
years beginning after September 15, 2012. The
Company will adopt ASU 2012-02 for its fiscal year 2014
which begins on May 1, 2013. The Company is
unable to determine the impact of such adoption until it
performs the annual test for impairment in the next
fiscal year.
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X | ||||||||||
- Definition
The entire disclosure for a new accounting pronouncement that has been issued but not yet adopted. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NOTE B - EARNINGS PER SHARE (Tables)
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Jan. 31, 2013
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Schedule of Earnings Per Share Reconciliation [Table Text Block] | Reconciliation of the weighted average shares outstanding for basic and diluted Earnings Per Share are as follows:
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Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | The computation of diluted earnings per share excludes those options and stock appreciation rights (“SARS”) with an exercise price in excess of the average market price of the Company’s common shares during the periods presented. The inclusion of such options and SARS in the computation of earnings per share would have been antidilutive. The number of excluded options and SARS were:
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X | ||||||||||
- Definition
Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tabular disclosure of the reconciliation of basic net earnings per share (or unit) to diluted earnings per share (or unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NOTE C - COSTS AND ESTIMATED EARNINGS IN EXCESS OF BILLINGS, NET (Tables)
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Jan. 31, 2013
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Costs and Estimated Earnings in Excess of Billings, Net [Table Text Block] | At January 31, 2013 and April 30, 2012, costs and estimated earnings in excess of billings, net, consist of the following:
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- Definition
Cost and Estimated Earnings on Uncompleted Contracts No definition available.
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NOTE E - INVENTORIES (Tables)
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Jan. 31, 2013
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Schedule of Inventory, Current [Table Text Block] | Inventories, which are reported at the lower of cost or market, consist of the following:
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X | ||||||||||
- Definition
Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NOTE F - SEGMENT INFORMATION (Tables)
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Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | The table below presents information about reported segments with reconciliation of segment amounts to consolidated amounts as reported in the statements of income or the balance sheet for each of the periods. The January 31, 2012 amounts do not include FEI-Elcom (in thousands):
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Reconciliation of Assets from Segment to Consolidated [Table Text Block] | The table below presents information about reported segments with reconciliation of segment amounts to consolidated amounts as reported in the statements of income or the balance sheet for each of the periods. The January 31, 2012 amounts do not include FEI-Elcom (in thousands):
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X | ||||||||||
- Definition
Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tabular disclosure of all significant reconciling items in the reconciliation of total profit or loss from reportable segments, to the entity's consolidated income before income taxes, extraordinary items, and discontinued operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NOTE H - ACQUISITION OF ELCOM TECHNOLOGIES, INC. (Tables)
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Business Acquisition, Pro Forma Information [Table Text Block] | The pro forma financial information is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the acquisition occurred on May 1, 2011, nor does it purport to represent the results of operations for future periods. The pro forma results of operations do not include the gain on the Company’s original investment of $730,000 or the impairment of the Company’s investment in Elcom during fiscal year 2012.
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X | ||||||||||
- Definition
Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NOTE I - FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
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Available-for-sale Securities [Table Text Block] | The cost, gross unrealized gains, gross unrealized losses and fair market value of available-for-sale securities at January 31, 2013 and April 30, 2012 are as follows (in thousands):
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Unrealized Gain (Loss) on Investments [Table Text Block] | The following table presents the fair value and unrealized losses, aggregated by investment type and length of time that individual securities have been in a continuous unrealized loss position (in thousands):
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Fair Value, by Balance Sheet Grouping [Table Text Block] | Maturities of fixed income securities classified as available-for-sale at January 31, 2013 are as follows, at cost (in thousands):
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- Definition
Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tabular disclosure of unrealized gains and losses on investments. No definition available.
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NOTE B - EARNINGS PER SHARE (Detail) - Schedule of Earnings Per Share Reconciliation
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3 Months Ended | 9 Months Ended | ||
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Jan. 31, 2013
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Jan. 31, 2012
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Jan. 31, 2013
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Jan. 31, 2012
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Weighted average shares outstanding: | ||||
Basic | 8,424,162 | 8,323,912 | 8,401,348 | 8,319,740 |
Effect of dilutive securities | 179,612 | 184,385 | 182,268 | 217,851 |
Diluted | 8,603,774 | 8,508,297 | 8,583,616 | 8,537,591 |
X | ||||||||||
- Details
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X | ||||||||||
- Definition
The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NOTE B - EARNINGS PER SHARE (Detail) - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Stock Options [Member])
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3 Months Ended | 9 Months Ended | ||
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Jan. 31, 2013
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Jan. 31, 2012
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Jan. 31, 2013
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Jan. 31, 2012
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Stock Options [Member]
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Outstanding options and SARS excluded | 942,375 | 746,375 | 942,375 | 733,375 |
X | ||||||||||
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NOTE C - COSTS AND ESTIMATED EARNINGS IN EXCESS OF BILLINGS, NET (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
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Jan. 31, 2013
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Jan. 31, 2012
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Jan. 31, 2013
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Jan. 31, 2012
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Revenues | $ 17,137 | $ 15,448 | $ 51,391 | $ 46,442 |
Contracts Accounted for under Percentage of Completion [Member]
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Revenues | $ 8,900 | $ 9,000 | $ 25,900 | $ 26,900 |
X | ||||||||||
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
NOTE C - COSTS AND ESTIMATED EARNINGS IN EXCESS OF BILLINGS, NET (Detail) - Costs and Estimated Earnings in Excess of Billings, Net (USD $)
In Thousands, unless otherwise specified |
Jan. 31, 2013
|
Apr. 30, 2012
|
---|---|---|
Costs and estimated earnings in excess of billings | $ 11,096 | $ 9,552 |
Billings in excess of costs and estimated earnings | (2,479) | (2,345) |
Net asset | $ 8,617 | $ 7,207 |
X | ||||||||||
- Definition
Liability attributable to (i) billings in excess of costs under the percentage of completion contract accounting method representing the difference between contractually invoiced amounts (billings) and revenue recognized based, for example, on costs incurred to estimated total costs at period end or (ii) contractually invoiced amounts (billings) in excess of costs incurred and accumulated under the completed contract accounting method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total amount included in cost of uncompleted contracts in excess of related billings, or unbilled accounts receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount included in cost of uncompleted contracts in excess of related billings, or unbilled accounts receivable, which is expected to be collected within a year within one year (or one operating cycle, if longer) from the date of the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
NOTE D - TREASURY STOCK TRANSACTIONS (Detail) (Treasury Stock [Member])
|
9 Months Ended |
---|---|
Jan. 31, 2013
|
|
Treasury Stock [Member]
|
|
Stock Issued During Period Shares 401 K Contribution | 39,091 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 29,142 |
X | ||||||||||
- Definition
Stock Issued During Period, Shares, 401(k) Contribution No definition available.
|
X | ||||||||||
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
NOTE E - INVENTORIES (Detail) (USD $)
In Thousands, unless otherwise specified |
Jan. 31, 2013
|
Apr. 30, 2012
|
---|---|---|
Inventory, Net | $ 37,756 | $ 34,299 |
United States [Member]
|
||
Inventory, Net | 25,900 | 25,500 |
Belgium [Member]
|
||
Inventory, Net | 11,200 | 8,200 |
China [Member]
|
||
Inventory, Net | $ 700 | $ 600 |
X | ||||||||||
- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
NOTE E - INVENTORIES (Detail) - Schedule of Inventory, Current (USD $)
In Thousands, unless otherwise specified |
Jan. 31, 2013
|
Apr. 30, 2012
|
---|---|---|
Raw Materials and Component Parts | $ 17,017 | $ 15,813 |
Work in Progress | 17,823 | 15,762 |
Finished Goods | 2,916 | 2,724 |
$ 37,756 | $ 34,299 |
X | ||||||||||
- Definition
Amount before last-in first-out (LIFO) and valuation reserves of merchandise or goods held by the entity that are readily available for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross amount of unprocessed items to be consumed in the manufacturing or production process. Also includes purchased parts that will be used as components of a finished product. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross amount of merchandise or goods which are partially completed, are generally comprised of raw materials, labor and factory overhead costs, and which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
NOTE F - SEGMENT INFORMATION (Detail)
|
9 Months Ended |
---|---|
Jan. 31, 2013
|
|
Number of Reportable Segments | 3 |
Frequency Electronics Inc New York [Member]
|
|
Number Of Principal Markets | 3 |
X | ||||||||||
- Definition
Number of Principal Markets No definition available.
|
X | ||||||||||
- Definition
Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. No definition available.
|
NOTE F - SEGMENT INFORMATION (Detail) - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Jan. 31, 2013
|
Jan. 31, 2012
|
Jan. 31, 2013
|
Jan. 31, 2012
|
|
Revenues: | ||||
Revenues | $ 17,137 | $ 15,448 | $ 51,391 | $ 46,442 |
Operating income (loss): | ||||
Operating profit (loss) | 1,750 | 1,943 | 4,849 | 5,501 |
Frequency Electronics Inc New York [Member]
|
||||
Revenues: | ||||
Revenues | 14,076 | 11,075 | 38,211 | 33,050 |
Operating income (loss): | ||||
Operating profit (loss) | 2,205 | 2,348 | 5,178 | 6,404 |
Gillam Frequency Electronics Inc [Member]
|
||||
Revenues: | ||||
Revenues | 1,913 | 3,370 | 6,431 | 7,039 |
Operating income (loss): | ||||
Operating profit (loss) | (153) | 243 | (129) | (244) |
Frequency Electronics Inc Zyfer [Member]
|
||||
Revenues: | ||||
Revenues | 2,054 | 2,001 | 8,742 | 8,588 |
Operating income (loss): | ||||
Operating profit (loss) | (162) | (472) | 135 | (230) |
Inter Segment [Member]
|
||||
Revenues: | ||||
Revenues | (906) | (998) | (1,993) | (2,235) |
Corporate [Member]
|
||||
Operating income (loss): | ||||
Operating profit (loss) | $ (140) | $ (176) | $ (335) | $ (429) |
X | ||||||||||
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
NOTE F - SEGMENT INFORMATION (Detail) - Reconciliation of Assets from Segment to Consolidated (USD $)
In Thousands, unless otherwise specified |
Jan. 31, 2013
|
Apr. 30, 2012
|
---|---|---|
Identifiable assets: | ||
Assets | $ 108,280 | $ 106,227 |
Frequency Electronics Inc New York [Member]
|
||
Identifiable assets: | ||
Assets | 54,293 | 50,234 |
Frequency Electronics Inc New York China [Member]
|
||
Identifiable assets: | ||
Assets | 3,600 | 3,600 |
Gillam Frequency Electronics Inc [Member]
|
||
Identifiable assets: | ||
Assets | 19,818 | 20,407 |
Frequency Electronics Inc Zyfer [Member]
|
||
Identifiable assets: | ||
Assets | 7,261 | 9,685 |
Inter Segment [Member]
|
||
Identifiable assets: | ||
Assets | (15,157) | (16,424) |
Corporate [Member]
|
||
Identifiable assets: | ||
Assets | $ 42,065 | $ 42,325 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
NOTE F - SEGMENT INFORMATION (Detail) - Reconciliation of Assets from Segment to Consolidated (Parentheticals) (USD $)
In Thousands, unless otherwise specified |
Jan. 31, 2013
|
Apr. 30, 2012
|
---|---|---|
Assets (in Dollars) | $ 108,280 | $ 106,227 |
Frequency Electronics Inc New York [Member]
|
||
Assets (in Dollars) | 54,293 | 50,234 |
Frequency Electronics Inc New York China [Member]
|
||
Assets (in Dollars) | 3,600 | 3,600 |
Gillam Frequency Electronics Inc [Member]
|
||
Assets (in Dollars) | 19,818 | 20,407 |
Frequency Electronics Inc Zyfer [Member]
|
||
Assets (in Dollars) | 7,261 | 9,685 |
Inter Segment [Member]
|
||
Assets (in Dollars) | (15,157) | (16,424) |
Corporate [Member]
|
||
Assets (in Dollars) | $ 42,065 | $ 42,325 |
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note G - INVESTMENT IN MORION, INC. (Detail) (Morion Inc [Member], USD $)
|
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Jan. 31, 2013
|
Jan. 31, 2012
|
Jan. 31, 2013
|
Jan. 31, 2012
|
|
Morion Inc [Member]
|
||||
Cost Method Investment Ownership Percentage | 4.60% | 4.60% | ||
Related Party Transaction, Purchases from Related Party | $ 23,000 | $ 24,000 | $ 42,000 | $ 169,000 |
Revenue from Related Parties | 103,000 | 63,000 | 200,000 | 1,100,000 |
Due to Related Parties, Current | 0 | 0 | ||
Due from Related Parties, Current | 92,000 | 92,000 | ||
Minimum Number Of Rubidium Oscillators To Be Produced Per Year Under Agreement Terms | 5,000 | |||
License And Equipment Fee Receivable | 2,700,000 | |||
Percentage Of Royalties Payable On Third Party Sales | 5.00% | |||
Royalty Payable Period | 5 years | |||
Minimum Worth Of Rubidium Oscillators | 400,000 | |||
Proceeds from License Fees Received | $ 925,000 |
X | ||||||||||
- Definition
Cost Method Investment, Ownership Percentage No definition available.
|
X | ||||||||||
- Definition
License And Equipment Fee Receivable No definition available.
|
X | ||||||||||
- Definition
Minimum Number Of Rubidium Oscillators To Be Produced Per Year Under Agreement Terms No definition available.
|
X | ||||||||||
- Definition
This elements represents the minimum worth of the Rubidium Oscillators. No definition available.
|
X | ||||||||||
- Definition
Percentage of royalties payable on third party sales No definition available.
|
X | ||||||||||
- Definition
Royalty payable period No definition available.
|
X | ||||||||||
- Definition
The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Cash received from licensees for license fees during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Purchases during the period (excluding transactions that are eliminated in consolidated or combined financial statements) with related party. No definition available.
|
X | ||||||||||
- Definition
Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of additional allowance for investment against the notes receivable. No definition available.
|
X | ||||||||||
- Definition
Business Acquisition Purchase Price Allocatioin Deferred Tax Asset No definition available.
|
X | ||||||||||
- Definition
Business Acquisition, Purchase Price Allocation, Intangible Assets and Goodwill No definition available.
|
X | ||||||||||
- Definition
Receivable Transfer to Investment No definition available.
|
X | ||||||||||
- Definition
Amount of cash paid to acquire the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Percentage of voting equity interests acquired in the business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of goodwill arising from a business combination, which is the excess of the cost of the acquired entity over the amounts assigned to assets acquired and liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of acquisition cost of a business combination allocated to tangible assets. No definition available.
|
X | ||||||||||
- Definition
In a business combination achieved in stages, this element represents the acquisition-date fair value of the equity interest in the acquiree held by the acquirer immediately before the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
In a business combination achieved in stages, this element represents the acquisition-date percentage of equity in the acquiree held by the acquirer immediately before the acquisition date. No definition available.
|
X | ||||||||||
- Definition
Percentage above current market value that an investor seeking to acquire control of a company will pay, used as an input to measure fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount by which the fair value of an investment is less than the amortized cost basis or carrying amount of that investment at the balance sheet date and the decline in fair value is deemed to be other than temporary, before considering whether or not such amount is recognized in earnings or other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of interest income earned from interest bearing assets not separately disclosed. No definition available.
|
X | ||||||||||
- Definition
The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity. No definition available.
|
X | ||||||||||
- Definition
A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
NOTE H - ACQUISITION OF ELCOM TECHNOLOGIES, INC. (Detail) - Business Acquisition, Pro Forma Information (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended |
---|---|---|
Jan. 31, 2012
|
Jan. 31, 2012
|
|
Revenues | $ 17,462 | $ 53,299 |
Operating profit | 984 | 4,058 |
Net income | $ 554 | $ 2,538 |
Earnings per share- basic (in Dollars per share) | $ 0.07 | $ 0.31 |
Earnings per share- diluted (in Dollars per share) | $ 0.07 | $ 0.30 |
X | ||||||||||
- Definition
Business Acquisition, Pro Forma Operating Income (Loss) No definition available.
|
X | ||||||||||
- Definition
The pro forma basic net income per share for a period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The pro forma diluted net income per share for a period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
NOTE I - FAIR VALUE OF FINANCIAL INSTRUMENTS (Detail) (USD $)
|
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Jan. 31, 2013
|
Jan. 31, 2012
|
Jan. 31, 2013
|
Jan. 31, 2012
|
|
Proceeds from Sale and Maturity of Marketable Securities | $ 2,509,000 | $ 6,111,000 | ||
Available-for-Sale Securities [Member]
|
||||
Proceeds from Sale and Maturity of Marketable Securities | 500,000 | 1,000,000 | 2,500,000 | 6,100,000 |
Available-for-sale Securities, Gross Realized Gains | $ 40,000 | $ 11,500 | $ 40,000 | $ 19,000 |
X | ||||||||||
- Definition
This item represents the gross profit realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow associated with the aggregate amount received by the entity through sale or maturity of marketable securities (held-to-maturity or available-for-sale) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
NOTE I - FAIR VALUE OF FINANCIAL INSTRUMENTS (Detail) - Costs, Gross Unrealized Gains, Gross Unrealized Losses and Fair Market Value of Available-For-Sale Securities (USD $)
In Thousands, unless otherwise specified |
Jan. 31, 2013
|
Apr. 30, 2012
|
---|---|---|
Cost | $ 15,453 | $ 16,984 |
Gross Unrealized Gains | 1,052 | 849 |
Gross Unrealized Losses | (96) | (175) |
Fair Market Value | 16,409 | 17,658 |
Fixed Income Securities [Member]
|
||
Cost | 9,823 | 11,573 |
Gross Unrealized Gains | 292 | 297 |
Gross Unrealized Losses | (6) | |
Fair Market Value | 10,115 | 11,864 |
Equity Securities [Member]
|
||
Cost | 5,630 | 5,411 |
Gross Unrealized Gains | 760 | 552 |
Gross Unrealized Losses | (96) | (169) |
Fair Market Value | $ 6,294 | $ 5,794 |
X | ||||||||||
- Definition
This item represents the cost of debt and equity securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the gross unrealized gains for securities, at a point in time, which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the gross unrealized losses for securities, at a point in time, which are categorized neither as held-to-maturity nor trading securities. No definition available.
|
NOTE I - FAIR VALUE OF FINANCIAL INSTRUMENTS (Detail) - Fair Value and Unrealized Losses, Aggregated by Investment Type and Length of Time Individual Securities have been Continuious Unrealized Loss Position (USD $)
In Thousands, unless otherwise specified |
Jan. 31, 2013
|
Apr. 30, 2012
|
---|---|---|
Fair Value, Less than 12 months | $ 708 | $ 840 |
Unrealized Losses, Less than 12 months | (95) | (175) |
Fair Value, More than 12 months | 129 | |
Unrealized Losses, More than 12 months | (1) | |
Fair Value | 837 | 840 |
Unrealized Losses | (96) | (175) |
Fixed Income Securities [Member]
|
||
Fair Value, Less than 12 months | 301 | |
Unrealized Losses, Less than 12 months | (6) | |
Fair Value, More than 12 months | ||
Unrealized Losses, More than 12 months | ||
Fair Value | 301 | |
Unrealized Losses | (6) | |
Equity Securities [Member]
|
||
Fair Value, Less than 12 months | 708 | 539 |
Unrealized Losses, Less than 12 months | (95) | (169) |
Fair Value, More than 12 months | 129 | |
Unrealized Losses, More than 12 months | (1) | |
Fair Value | 837 | 539 |
Unrealized Losses | $ (96) | $ (169) |
X | ||||||||||
- Definition
Amount of the excess of amortized cost basis over fair value of securities that have been in a loss position for twelve months or longer for securities which are categorized neither as held-to-maturity nor trading securities. No definition available.
|
X | ||||||||||
- Definition
Amount of the excess of amortized cost basis over fair value of securities in a loss position and categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the aggregate fair value of investments in debt and equity securities in an unrealized loss position which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the excess of amortized cost basis over fair value of securities that have been in a loss position for less than twelve months for securities categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the aggregate fair value of investments in debt and equity securities categorized neither as held-to-maturity nor trading securities that have been in a continuous unrealized loss position for less than twelve months. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the aggregate fair value of investments in debt and equity securities categorized neither as held-to-maturity nor trading securities that have been in a continuous unrealized loss position for twelve months or longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
NOTE I - FAIR VALUE OF FINANCIAL INSTRUMENTS (Detail) - Maturities of Fixed Income Securities Classified as Available-For-Sale (USD $)
In Thousands, unless otherwise specified |
Jan. 31, 2013
|
Apr. 30, 2012
|
---|---|---|
$ 16,409 | $ 17,658 | |
Fixed Income Securities [Member]
|
||
Current | 2,005 | |
Due after one year through five years | 7,497 | |
Due after five years through ten years | 321 | |
$ 9,823 |
X | ||||||||||
- Definition
Amount of investment in debt and equity securities categorized neither as trading securities nor held-to-maturity securities and intended be sold or mature one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of available-for-sale debt securities at fair value maturing in the sixth fiscal year through the tenth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of available-for-sale debt securities at fair value maturing in the second fiscal year through the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
NOTE J - VALUATION ALLOWANCE ON DEFERRED TAX ASSETS (Detail) (USD $)
In Millions, unless otherwise specified |
Jan. 31, 2013
|
Apr. 30, 2012
|
---|---|---|
Deferred Tax Assets, Valuation Allowance | $ 1.5 | $ 1.5 |
X | ||||||||||
- Definition
Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
NOTE K - SPECIAL DIVIDEND (Detail) (USD $)
|
9 Months Ended |
---|---|
Jan. 31, 2013
|
|
Dividends Payable, Date Declared | Dec. 12, 2012 |
Common Stock, Dividends, Per Share, Cash Paid (in Dollars per share) | $ 0.20 |
Dividends Payable, Date to be Paid | Dec. 31, 2012 |
Dividends Payable, Date of Record | Dec. 24, 2012 |
X | ||||||||||
- Definition
Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date the declared dividend will be paid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date the dividend to be paid was declared, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date the holder must own the stock to be entitled to the dividend, in CCYY-MM-DD format. No definition available.
|