America's Car-Mart (CRMT) 10-Q 4 Sep 19 2020 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Jul. 31, 2019	Aug. 28, 2019
Document Information [Line Items]
Entity Registrant Name	AMERICAS CARMART INC
Entity Central Index Key	0000799850
Trading Symbol	crmt
Current Fiscal Year End Date	--04-30
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding (in shares)		6,658,627
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Jul. 31, 2019
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Title of 12(b) Security	Common Stock

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jul. 31, 2019	Apr. 30, 2019
Assets:
Cash and cash equivalents	$ 1,640	$ 1,752
Accrued interest on finance receivables	2,588	2,348
Finance receivables, net	431,610	415,486
Inventory	44,651	37,483
Prepaid expenses and other assets	4,844	4,634
Income taxes receivable, net		1,947
Right-of-use asset	34,520
Goodwill	355	355
Property and equipment, net	28,571	28,537
Total Assets	548,779	492,542
Liabilities:
Accounts payable	13,859	13,659
Income tax payable, net	1,429
Accrued liabilities	17,152	18,837
Deferred income tax liabilities, net	15,132	14,259
Lease liability	36,536
Debt facilities	158,677	152,918
Total liabilities	275,343	231,632
Commitments and contingencies (Note J)
Mezzanine equity:
Mandatorily redeemable preferred stock	400	400
Equity:
Preferred stock, par value $.01 per share, 1,000,000 shares authorized; none issued or outstanding
Common stock, par value $.01 per share, 50,000,000 shares authorized; 13,392,397 and 13,376,030 issued at July 31, 2019 and April 30, 2019, respectively, of which 6,660,281 and 6,699,421 were outstanding at July 31, 2019 and April 30, 2019, respectively	134	134
Additional paid-in capital	83,345	81,605
Retained earnings	425,074	409,573
Less: Treasury stock, at cost, 6,732,116 and 6,676,609 shares at July 31, 2019 and April 30, 2019, respectively	(235,617)	(230,902)
Total stockholders' equity	272,936	260,410
Non-controlling interest	100	100
Total equity	273,036	260,510
Total Liabilities, Mezzanine Equity and Equity	548,779	492,542
Payment Protection Plan [Member]
Liabilities:
Deferred revenue	21,831	21,367
Service Contract [Member]
Liabilities:
Deferred revenue	$ 10,727	$ 10,592

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jul. 31, 2019	Apr. 30, 2019
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	13,392,397	13,376,030
Common stock, shares outstanding (in shares)	6,660,281	6,699,421
Treasury stock, shares (in shares)	6,732,116	6,676,609

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Revenues:
Sales	$ 150,074	$ 144,101
Interest and other income	21,804	19,914
Total revenue	171,878	164,015
Costs and expenses:
Cost of sales	88,885	84,168
Selling, general and administrative	28,671	26,382
Provision for credit losses	31,475	37,543
Interest expense	2,004	1,804
Depreciation and amortization	967	985
Loss on disposal of property and equipment	37
Total costs and expenses	152,039	150,882
Income before taxes	19,839	13,133
Provision for income taxes	4,328	2,249
Net income	15,511	10,884
Less: Dividends on mandatorily redeemable preferred stock	(10)	(10)
Net income attributable to common stockholders	$ 15,501	$ 10,874
Earnings per share:
Basic (in dollars per share)	$ 2.32	$ 1.57
Diluted (in dollars per share)	$ 2.21	$ 1.53
Weighted average number of shares used in calculation:
Basic (in shares)	6,684,282	6,924,035
Diluted (in shares)	7,016,752	7,126,685

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Net income	$ 15,511,000	$ 10,884,000
Adjustments to reconcile net income to net cash used in operating activities:
Provision for credit losses	31,475,000	37,543,000
Losses on claims for payment protection plan	4,230,000	4,069,000
Depreciation and amortization	967,000	985,000
Amortization of debt issuance costs	54,000	69,000
Loss on disposal of property and equipment	37,000
Stock based compensation	1,620,000	1,094,000
Deferred income taxes	873,000	871,000
Excess tax benefit from share based compensation	276,000	943,000
Change in operating assets and liabilities:
Finance receivable originations	(137,855,000)	(134,261,000)
Finance receivable collections	74,355,000	66,740,000
Accrued interest on finance receivables	(240,000)	(143,000)
Inventory	4,503,000	7,251,000
Prepaid expenses and other assets	(210,000)	(27,000)
Accounts payable and accrued liabilities	(1,387,000)	3,032,000
Income taxes, net	3,100,000	486,000
Net cash provided by (used in) operating activities	(2,092,000)	414,000
Investing Activities:
Purchase of property and equipment	(1,010,000)	(685,000)
Net cash used in investing activities	(1,010,000)	(685,000)
Financing Activities:
Exercise of stock options	80,000	2,713,000
Issuance of common stock	40,000	29,000
Purchase of common stock	(4,715,000)	(7,377,000)
Dividend payments	(10,000)	(10,000)
Change in cash overdrafts	1,890,000	2,036,000
Payments on note payable	(125,000)	(94,000)
Proceeds from revolving credit facilities	118,800,000	109,622,000
Payments on revolving credit facilities	(112,970,000)	(106,829,000)
Net cash provided by financing activities	2,990,000	90,000
Decrease in cash and cash equivalents	(112,000)	(181,000)
Cash and cash equivalents, beginning of period	1,752,000	1,022,000
Cash and cash equivalents, end of period	1,640,000	841,000
Payment Protection Plan [Member]
Change in operating assets and liabilities:
Increase (decrease) in deferred revenue	464,000	606,000
Service Contract [Member]
Change in operating assets and liabilities:
Increase (decrease) in deferred revenue	$ 135,000	$ 272,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Apr. 30, 2018	13,147,143
Balance at Apr. 30, 2018	$ 131	$ 72,641	$ 361,987	$ (204,325)	$ 100	$ 230,534
Issuance of common stock (in shares)	544,000
Issuance of common stock		29				29
Stock options exercised (in shares)	131,357
Stock options exercised	$ 2	2,711				2,713
Purchase of treasury shares				(7,377)		(7,377)
Stock based compensation		1,094				1,094
Dividends on subsidiary preferred stock			(10)			(10)
Net income			10,884			10,884
Balance (in shares) at Jul. 31, 2018	13,279,044
Balance at Jul. 31, 2018	$ 133	76,475	372,861	(211,702)	100	237,867
Balance (in shares) at Apr. 30, 2019	13,376,030
Balance at Apr. 30, 2019	$ 134	81,605	409,573	(230,902)	100	260,510
Issuance of common stock (in shares)	552,000
Issuance of common stock		40				40
Stock options exercised (in shares)	15,815
Stock options exercised		80				80
Purchase of treasury shares				(4,715)		(4,715)
Stock based compensation		1,620				1,620
Dividends on subsidiary preferred stock			(10)			(10)
Net income			15,511			15,511
Balance (in shares) at Jul. 31, 2019	13,392,397
Balance at Jul. 31, 2019	$ 134	$ 83,345	$ 425,074	$ (235,617)	$ 100	$ 273,036

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity (Unaudited) (Parentheticals) - shares	3 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Treasury Stock [Member]
Purchase of treasury shares (in shares)	55,507	115,999

Note A - Organization and Busin

Note A - Organization and Business	3 Months Ended
	Jul. 31, 2019
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	A – Organization and Business America’s Car-Mart, Inc., a Texas corporation (the “Company”), is one two not July 31, 2019, 145

Note B - Summary of Significant

Note B - Summary of Significant Accounting Policies	3 Months Ended
	Jul. 31, 2019
Notes to Financial Statements
Significant Accounting Policies [Text Block]	B – Summary of Significant Accounting Policies General The accompanying condensed consolidated balance sheet as of April 30, 2019, July 31, 2019 2018, 10 10 X. not three July 31, 2019 not may April 30, 2020. 10 April 30, 2019. Principles of Consolidation The condensed consolidated financial statements include the accounts of America’s Car-Mart, Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated. Segment Information Each dealership is an operating segment with its results regularly reviewed by the Company’s chief operating decision maker in an effort to make decisions about resources to be allocated to the segment and to assess its performance. Individual dealerships meet the aggregation criteria for reporting purposes under the current accounting guidance. The Company operates in the Integrated Auto Sales and Finance segment of the used car market, also referred to as the Integrated Auto Sales and Finance industry. In this industry, the nature of the sale and the financing of the transaction, financing processes, the type of customer and the methods used to distribute the Company’s products and services, including the actual servicing of the contracts as well as the regulatory environment in which the Company operates, all have similar characteristics. Each of our individual dealerships are similar in nature and only engages in the selling and financing of used vehicles. All individual dealerships have similar operating characteristics. As such, individual dealerships have been aggregated into one Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. Significant estimates include, but are not Concentration of Risk The Company provides financing in connection with the sale of substantially all of its vehicles. These sales are made primarily to customers residing in Alabama, Arkansas, Georgia, Kentucky, Mississippi, Missouri, Oklahoma, Tennessee, and Texas, with approximately 28% Periodically, the Company maintains cash in financial institutions in excess of the amounts insured by the federal government. The Company’s revolving credit facilities mature in December 2021. Restrictions on Distributions/Dividends The Company’s revolving credit facilities generally restrict distributions by the Company to its shareholders. The distribution limitations under the credit facilities allow the Company to repurchase shares of its common stock up to certain limits. Under the current limits, the aggregate amount of repurchases after October 25, 2017 $50 first six October 25, 2017, $40 October 25, 2017, 20% 75% twelve 12.5% Cash Equivalents The Company considers all highly liquid debt instruments purchased with original maturities of three Finance Receivables, Repossessions and Charge-offs and Allowance for Credit Losses The Company originates installment sale contracts from the sale of used vehicles at its dealerships. These installment sale contracts carry an average interest rate of approximately 16.4% May 2016, 15.0% 16.5% not not $2.6 July 31, 2019 $2.3 April 30, 2019 . An account is considered delinquent when the customer is one not may 76% July 31, 2019, 3.8% 30 3.5% July 31, 2018. Substantially all of the Company’s automobile contracts involve contracts made to individuals with impaired or limited credit histories or higher debt-to-income ratios than permitted by traditional lenders. Contracts made with buyers who are restricted in their ability to obtain financing from traditional lenders generally entail a higher risk of delinquency, default and repossession, and higher losses than contracts made with buyers with better credit. The Company strives to keep its delinquency percentages low, and not three not Periodically, the Company enters into contract modifications with its customers to extend or modify the payment terms. The Company only enters into a contract modification or extension if it believes such action will increase the amount of monies the Company will ultimately realize on the customer’s account and will increase the likelihood of the customer being able to pay off the vehicle contract. At the time of modification, the Company expects to collect amounts due including accrued interest at the contractual interest rate for the period of delay. No third Accounts are charged-off after the expiration of a statutory notice period for repossessed accounts, or when management determines that the timely collection of future payments is not July 31, 2019, 62 The Company maintains an allowance for credit losses on an aggregate basis at a level it considers sufficient to cover estimated losses inherent in the portfolio at the balance sheet date in the collection of its finance receivables currently outstanding. At July 31, 2019, 32.1 23.1 July 31, 2019, $129.5 24.5% $561.1 $21.8 $10.7 The estimated reserve amount is the Company’s anticipated future net charge-offs for losses incurred through the balance sheet date. The allowance takes into account historical credit loss experience (both timing and severity of losses), with consideration given to recent credit loss trends and changes in contract characteristics (i.e., average amount financed, months outstanding at loss date, term and age of portfolio), delinquency levels, collateral values, economic conditions and underwriting and collection practices. The allowance for credit losses is reviewed at least quarterly by management with any changes reflected in current operations. The calculation of the allowance for credit losses uses the following primary factors: • The number of units repossessed or charged-off as a percentage of total units financed over specific historical periods of time from one five • The average net repossession and charge-off loss per unit during the last eighteen 50% 10 11 eighteen July 31, 2019 12.5 • The timing of repossession and charge-off losses relative to the date of sale (i.e., how long it takes for a repossession or charge-off to occur) for repossessions and charge-offs occurring during the last eighteen A point estimate is produced by this analysis which is then supplemented by any positive or negative subjective factors to arrive at an overall reserve amount that management considers to be a reasonable estimate of losses inherent in the portfolio at the balance sheet date that will be realized via actual charge-offs in the future. Although it is at least reasonably possible that events or circumstances could occur in the future that are not In most states, the Company offers retail customers who finance their vehicle the option of purchasing a payment protection plan product as an add-on to the installment sale contract. This product contractually obligates the Company to cancel the remaining principal outstanding for any contract where the retail customer has totaled the vehicle, as defined by the contract, or the vehicle has been stolen. The Company periodically evaluates anticipated losses to ensure that if anticipated losses exceed deferred payment protection plan revenues, an additional liability is recorded for such difference. No July 31, 2019 April 30, 2019. Inventory Inventory consists of used vehicles and is valued at the lower of cost or net realizable value on a specific identification basis. Vehicle reconditioning costs are capitalized as a component of inventory. Repossessed vehicles and trade-in vehicles are recorded at fair value, which approximates wholesale value. The cost of used vehicles sold is determined using the specific identification method. Goodwill Goodwill reflects the excess of purchase price over the fair value of specifically identified net assets purchased. Goodwill and intangible assets deemed to have indefinite lives are not no 2019, no 2020. Property and Equipment Property and equipment are stated at cost. Expenditures for additions, remodels, and improvements are capitalized. Costs of repairs and maintenance are expensed as incurred. Leasehold improvements are amortized over the shorter of the estimated life of the improvement or the lease period. The lease period includes the primary lease term plus any extensions that are reasonably assured. Depreciation is computed using the straight-line method, generally over the following estimated useful lives: Furniture, fixtures and equipment (years) 3 to 7 Leasehold improvements (years) 5 to 15 Buildings and improvements (years) 18 to 39 Property and equipment are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not Cash Overdraft As checks are presented for payment from the Company’s primary disbursement bank account, monies are automatically drawn against cash collections for the day and, if necessary, are drawn against one not Deferred Sales Tax Deferred sales tax represents a sales tax liability of the Company for vehicles sold on an installment basis in the states of Alabama and Texas. Under Alabama and Texas law for vehicles sold on an installment basis, the related sales tax is due as the payments are collected from the customer, rather than at the time of sale. Deferred sales tax liabilities are reflected in accrued liabilities on the Company’s Condensed Consolidated Balance Sheets. Income Taxes Income taxes are accounted for under the liability method. Under this method, deferred income tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates expected to apply in the years in which these differences are expected to be recovered or settled. The quarterly provision for income taxes is determined using an estimated annual effective tax rate, which is based on expected annual taxable income, statutory tax rates and the Company’s best estimate of nontaxable and nondeductible items of income and expense. The effective income tax rates were 21.8% 17.1% three July 31, 2019 July 31, 2018, three July 31, 2019 $276,000 $943,000 three July 31, 2019 July 31, 2018, 2016 09, May 1, 2017. On December 22, 2017, April 30, 2018, 2018. 740, December 22, 2017, 740 35% 21%, January 1, 2018. Occasionally, the Company is audited by taxing authorities. These audits could result in proposed assessments of additional taxes. The Company believes that its tax positions comply in all material respects with applicable tax law. However, tax law is subject to interpretation, and interpretations by taxing authorities could be different from those of the Company, which could result in the imposition of additional taxes. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not not 50 The Company is subject to income taxes in the U.S. federal jurisdiction and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. With few exceptions, the Company is no 2016. The Company’s policy is to recognize accrued interest related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Company had no July 31, 2019 April 30, 2019. Revenue Recognition Revenues are generated principally from the sale of used vehicles, which in most cases includes a service contract and a payment protection plan product, interest income and late fees earned on finance receivables. Revenues are net of taxes collected from customers and remitted to government agencies. Cost of vehicle sales include costs incurred by the Company to prepare the vehicle for sale including license and title costs, gasoline, transport services, and repairs. Revenues from the sale of used vehicles are recognized when the sales contract is signed, the customer has taken possession of the vehicle and, if applicable, financing has been approved. Revenues from the sale of vehicles sold at wholesale are recognized at the time the proceeds are received. Revenues from the sale of service contracts are recognized ratably over the expected duration of the product. Service contract revenues are included in sales and the related expenses are included in cost of sales. Payment protection plan revenues are initially deferred and then recognized to income using the “Rule of 78’s” Sales consist of the following: Three Months Ended (In thousands) 2019 2018 Sales – used autos $ 129,454 $ 125,224 Wholesales – third party 7,181 6,052 Service contract sales 7,470 7,328 Payment protection plan revenue 5,969 5,497 Total $ 150,074 $ 144,101 At July 31, 2019 2018, 90 $2.0 $1.6 $485,000 $446,000 three July 31, 2019 2018, three July 31, 2019 April 30, 2019 $5.3 Earnings per Share Basic earnings per share are computed by dividing net income attributable to common stockholders by the average number of common shares outstanding during the period. Diluted earnings per share are computed by dividing net income attributable to common stockholders by the average number of common shares outstanding during the period plus dilutive common stock equivalents. The calculation of diluted earnings per share takes into consideration the potentially dilutive effect of common stock equivalents, such as outstanding stock options and non-vested restricted stock, which if exercised or converted into common stock would then share in the earnings of the Company. In computing diluted earnings per share, the Company utilizes the treasury stock method and anti-dilutive securities are excluded. Stock-Based Compensation The Company recognizes the cost of employee services received in exchange for awards of equity instruments, such as stock options and restricted stock, based on the fair value of those awards at the date of grant over the requisite service period. The Company uses the Black-Scholes option pricing model to determine the fair value of stock option awards. The Company may March 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting May 1, 2017. $276,000 $943,000 three July 31, 2019 July 31, 2018, not not Treasury Stock Treasury stock may 10,000 14,000 Recent Accounting Pronouncements Occasionally, new accounting pronouncements are issued by the FASB or other standard setting bodies which the Company will adopt as of the specified effective date. Unless otherwise discussed, the Company believes the implementation of recently issued standards which are not not Leases February 2016, 2016 02, Leases 12 2016 02 December 15, 2018, May 1, 2019 $34.5 not Credit Losses June 2016, 2016 13, Financial Instruments Credit Losses 326 2016 13 2016 13 December 15, 2019, not Cloud Computing Arrangement August 2018, 2018 15, Intangibles – Goodwill and Other – Internal-Use Software 350 40 2018 15 2018 15 December 15, 2019, not

Note C - Finance Receivables, N

Note C - Finance Receivables, Net	3 Months Ended
	Jul. 31, 2019
Notes to Financial Statements
Financing Receivables [Text Block]	C – Finance Receivables, Net The Company originates installment sale contracts from the sale of used vehicles at its dealerships. These installment sale contracts, which carry an interest rate of 15% 16.5% 18 48 16.4% July 31, 2019. one one one The components of finance receivables are as follows: (In thousands) July 31, 2019 April 30, 2019 Gross contract amount $ 651,677 $ 631,681 Less unearned finance charges (90,573 ) (88,353 ) Principal balance 561,104 543,328 Less allowance for credit losses (129,494 ) (127,842 ) Finance receivables, net $ 431,610 $ 415,486 Changes in the finance receivables, net are as follows: Three Months Ended (In thousands) 2019 2018 Balance at beginning of period $ 415,486 $ 383,617 Finance receivable originations 137,855 134,261 Finance receivable collections (74,355 ) (66,740 ) Provision for credit losses (31,475 ) (37,543 ) Losses on claims for payment protection plan (4,230 ) (4,069 ) Inventory acquired in repossession and payment protection plan claims (11,671 ) (11,153 ) Balance at end of period $ 431,610 $ 398,373 Changes in the finance receivables allowance for credit losses are as follows: Three Months Ended (In thousands) 2019 2018 Balance at beginning of period $ 127,842 $ 117,821 Provision for credit losses 31,475 37,543 Charge-offs, net of recovered collateral (29,823 ) (32,917 ) Balance at end of period $ 129,494 $ 122,447 The factors which influenced management’s judgment in determining the amount of the current period provision for credit losses are described below. The level of charge-offs, net of recovered collateral, is the most important factor in determining the provision for credit losses. This is due to the fact that once a contract becomes delinquent the account is either made current by the customer, the vehicle is repossessed, or the account is written off if the collateral cannot be recovered. Net charge-offs as a percentage of average finance receivables decreased to 5.4% three July 31, 2019, 6.4% Collections and delinquency levels can have a significant effect on additions to the allowance and are reviewed frequently. Collections as a percentage of average finance receivables were 13.5% three July 31, 2019 13.1% 30 3.8% July 31, 2019 3.5% July 31, 2018. As a result of the improvements in our net charge-offs as a percentage of average receivables, the quality of the portfolio and our allowance analysis, a decrease to the allowance for credit losses from 25% 24.5% first 2020, $2.6 $2.0 $0.29 Macro-economic factors, the competitive environment on the funding side, and more importantly, proper execution of operational policies and procedures have a significant effect on additions to the allowance charged to the provision. Higher unemployment levels, higher gasoline prices and higher prices for staple items can potentially have a significant effect. The Company continues to focus on operational improvements within the collections area. Credit quality information for finance receivables is as follows: (Dollars in thousands) July 31, 2019 April 30, 2019 July 31, 2018 Principal Percent of Principal Percent of Principal Percent of Balance Portfolio Balance Portfolio Balance Portfolio Current $ 445,461 79.39 % $ 435,603 80.17 % $ 408,354 78.40 % 3 - 29 days past due 94,254 16.80 % 91,747 16.89 % 94,042 18.06 % 30 - 60 days past due 15,891 2.83 % 11,362 2.09 % 14,377 2.76 % 61 - 90 days past due 3,533 0.63 % 3,429 0.63 % 2,493 0.48 % > 90 days past due 1,965 0.35 % 1,187 0.22 % 1,554 0.30 % Total $ 561,104 100.00 % $ 543,328 100.00 % $ 520,820 100.00 % Accounts one two may Substantially all of the Company’s automobile contracts involve contracts made to individuals with impaired or limited credit histories, or higher debt-to-income ratios than permitted by traditional lenders; such contracts generally entail a higher risk of delinquency, default, repossession, and losses than contracts made with buyers with better credit. The Company monitors contract term length, down payment percentages, and collections as credit quality indicators. Three Months Ended 2019 2018 Principal collected as a percent of average finance receivables 13.5 % 13.1 % Average down-payment percentage 6.5 % 6.1 % Average originating contract term (in months ) 29.9 29.7 July 31, 2019 July 31, 2018 Portfolio weighted average contract term, including modifications (in months ) 32.1 32.4 The increase in collections as a percentage of average finance receivables resulted primarily from improved and consistent efforts in the collections process. The portfolio weighted average contract term decreased slightly in spite of the increased average selling price, as we work to improve our underwriting and at the same time keep payments affordable, for competitive reasons. As the average selling price increases and in order to remain competitive, term lengths may

Note D - Property and Equipment

Note D - Property and Equipment	3 Months Ended
	Jul. 31, 2019
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	D – Property and Equipment A summary of property and equipment is as follows: (In thousands) July 31, 2019 April 30, 2019 Land $ 7,413 $ 7,413 Buildings and improvements 11,890 11,815 Furniture, fixtures and equipment 13,744 13,307 Leasehold improvements 26,336 26,064 Construction in progress 1,676 1,523 Less accumulated depreciation and amortization (32,488 ) (31,585 ) Total $ 28,571 $ 28,537

Note E - Accrued Liabilities

Note E - Accrued Liabilities	3 Months Ended
	Jul. 31, 2019
Notes to Financial Statements
Other Liabilities Disclosure [Text Block]	E – Accrued Liabilities A summary of accrued liabilities is as follows: (In thousands) July 31, 2019 April 30, 2019 Employee compensation $ 5,051 $ 6,321 Cash overdrafts (see Note B) 3,164 1,274 Deferred sales tax (see Note B) 3,107 3,571 Reserve for PPP claims 2,552 2,433 Health insurance 1,169 686 Other 2,109 4,552 Total $ 17,152 $ 18,837

Note F - Debt Facilities

Note F - Debt Facilities	3 Months Ended
	Jul. 31, 2019
Notes to Financial Statements
Debt Disclosure [Text Block]	F – Debt Facilities A summary of debt facilities is as follows: (In thousands) July 31, 2019 April 30, 2019 Revolving lines of credit $ 158,270 $ 152,440 Notes payable 166 194 Capital lease 743 839 Debt issuance costs (502 ) (555 ) Debt facilities $ 158,677 $ 152,918 On December 12, 2016, December 12, 2019, four $40 December 12, 2016. $172.5 $200 $50 37 42 50% 55%, 43 60 45% 50%. On October 25, 2017, No. 1 $50 six October 25, 2017, 20% 25% 0.025% second 0.125% third fourth 3.00%, 1.75:1.00 not first On December 3, 2018, No. 2 December 3, 2021 $200 $215 $190 $205 $10 0.10% 2.25% May 31, 2019. May 31, 2019, four The revolving credit facilities are collateralized primarily by finance receivables and inventory, are cross collateralized and contain a guarantee by the Company. Interest is payable monthly under the revolving credit facilities. The credit facilities provide for four 2.35%, 4.59% July 31, 2019 4.73% April 30, 2019. The distribution limitations under the credit facilities allow the Company to repurchase shares of its common stock up to certain limits. Under the current limits, the aggregate amount of repurchases after October 25, 2017 $50 first six October 25, 2017, $40 October 25, 2017, 20% 75% twelve 12.5% The Company was in compliance with the covenants at July 31, 2019. July 31, 2019, $56 The Company recognized approximately $54,000 $69,000 three July 31, 2019 2018, During the first three 2020 2019, not $502,000 $555,000 July 31, 2019 April 30, 2019, On December 15, 2015, one $550,000. $10,005. December 2020, 3.50% $166,000 $194,000 July 31, 2019 April 30, 2019, On March 29, 2018, $743,000 $839,000 July 31, 2019 April 30, 2019, three July 31, 2019, April 30, 2019, $218,000 $177,000,

Note G - Fair Value Measurement

Note G - Fair Value Measurements	3 Months Ended
	Jul. 31, 2019
Notes to Financial Statements
Fair Value Disclosures [Text Block]	G – Fair Value Measurements The table below summarizes information about the fair value of financial instruments included in the Company’s financial statements at July 31, 2019 April 30, 2019: July 31, 2019 April 30, 2019 (In thousands) Carrying Fair Carrying Fair Cash $ 1,640 $ 1,640 $ 1,752 $ 1,752 Finance receivables, net 431,610 345,079 415,486 334,147 Accounts payable 13,859 13,859 13,659 13,659 Debt facilities 158,677 158,677 152,918 152,918 Because no Financial Instrument Valuation Methodology Cash The carrying amount is considered to be a reasonable estimate of fair value due to the short-term nature of the financial instrument. Finance receivables, net The Company estimates the fair value of its receivables at what a third third third January 2019 34% 39% third 38.5% not third July 31, 2019, third Accounts payable The carrying amount is considered to be a reasonable estimate of fair value due to the short-term nature of the financial instrument. Debt facilities The fair value approximates carrying value due to the variable interest rates charged on the revolving credit facilities, which reprice frequently.

Note H - Weighted Average Share

Note H - Weighted Average Shares Outstanding	3 Months Ended
	Jul. 31, 2019
Notes to Financial Statements
Weighted Average Shares Outstanding [Text Block]	H – Weighted Average Shares Outstanding Weighted average shares of common stock outstanding used in the calculation of basic and diluted earnings per share were as follows: Three Months Ended 2019 2018 Weighted average shares outstanding-basic 6,684,282 6,924,035 Dilutive options and restricted stock 332,470 202,650 Weighted average shares outstanding-diluted 7,016,752 7,126,685 Antidilutive securities not included: Options 25,000 120,000 Restricted stock 3,000 -

Note I - Stock-based Compensati

Note I - Stock-based Compensation	3 Months Ended
	Jul. 31, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	I – Stock-Based Compensation The Company has stock-based compensation plans available to grant non-qualified stock options, incentive stock options and restricted stock to employees, directors and certain advisors of the Company. The stock-based compensation plans being utilized at July 31, 2019 $1.6 $1.2 $1.1 $831,000 three July 31, 2019 2018, Stock Options The Company has options outstanding under a stock option plan approved by the shareholders, the Amended and Restated Stock Option Plan. The shareholders of the Company approved the Amended and Restated Stock Option Plan (the “Restated Option Plan”) on August 5, 2015, June 10, 2025 1,800,000 August 29, 2018, 200,000 2,000,000 not not ten 2019 2029. Restated Minimum exercise price as a percentage of fair market value at date of grant 100 % Last expiration date for outstanding options May 1, 2029 Shares available for grant at July 31, 2019 273,500 The fair value of options granted is estimated on the date of grant using the Black-Scholes option pricing model based on the assumptions in the table below. Three Months Ended 2019 2018 Expected term (years) 5.5 5.5 Risk-free interest rate 2.28 % 2.78 % Volatility 39 % 36 % Dividend yield - - The expected term of the options is based on evaluations of historical actual and future expected employee exercise behavior. The risk-free interest rate is based on the U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life at the grant date. Volatility is based on historical volatility of the Company’s common stock. The Company has not not There were 25,000 three July 31, 2019 145,000 three July 31, 2018. three July 31, 2019 2018 $974,000 $3 Stock option compensation expense was $1.3 $998,000 $841,000 $639,000 three July 31, 2019 2018, July 31, 2019, $2.7 1.7 The Company had the following options exercised for the periods indicated. The impact of these cash receipts is included in financing activities in the accompanying Condensed Consolidated Statements of Cash Flows. Three Months Ended (Dollars in thousands) 2019 2018 Options exercised 21,500 162,250 Cash received from option exercises $ 80 $ 3,259 Intrinsic value of options exercised $ 1,284 $ 5,508 During the three July 31, 2019, 20,000 5,685 14,315 The aggregate intrinsic value of outstanding options at July 31, 2019 2018 $23.5 $13.5 July 31, 2019, 151,000 $6.3 4.9 $49.69. Stock Incentive Plan On August 5, 2015, June 10, 2025. August 29, 2018, may 100,000 450,000. There were 3,000 three July 31, 2019 three July 31, 2018. 102,527 July 31, 2019. 183,500 July 31, 2019 $47.02. As of July 31, 2019, $6.7 6.9 $271,000 $201,000 $247,000 $188,000 three July 31, 2019 2018, There were no 2019 first three 2020.

Note J - Commitments and Contin

Note J - Commitments and Contingencies	3 Months Ended
	Jul. 31, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	J – Commitments and Contingencies The Company has entered into operating leases for approximately 82% three five $1.7 July 31, 2019 $1.6 July 31, 2018. Scheduled amounts and timing of cash flows arising from operating lease payments as of July 31, 2019, April 30, 2019 4.73%, Maturity of lease liabilities 2020 (remaining) $ 4,813 2021 6,157 2022 5,905 2023 5,841 2024 5,253 Thereafter $ 18,624 Total undiscounted operating lease payments 46,593 Less: imputed interest (10,057 ) Present value of operating lease liabilities $ 36,536 The Company has a standby letter of credit relating to an insurance policy totaling $250,000 July 31, 2019. Car-Mart of Arkansas and Colonial do not

Note K - Supplemental Cash Flow

Note K - Supplemental Cash Flow Information	3 Months Ended
	Jul. 31, 2019
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	K - Supplemental Cash Flow Information Supplemental cash flow disclosures are as follows: Three Months Ended (in thousands) 2019 2018 Supplemental disclosures: Interest paid $ 1,965 $ 1,202 Income taxes paid (refunds received), net 78 (50 ) Non-cash transactions: Inventory acquired in repossession and payment protection plan claims 11,671 11,153 Net settlement option exercises 489 1,417

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Jul. 31, 2019
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The condensed consolidated financial statements include the accounts of America’s Car-Mart, Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated.
Segment Reporting, Policy [Policy Text Block]	Segment Information Each dealership is an operating segment with its results regularly reviewed by the Company’s chief operating decision maker in an effort to make decisions about resources to be allocated to the segment and to assess its performance. Individual dealerships meet the aggregation criteria for reporting purposes under the current accounting guidance. The Company operates in the Integrated Auto Sales and Finance segment of the used car market, also referred to as the Integrated Auto Sales and Finance industry. In this industry, the nature of the sale and the financing of the transaction, financing processes, the type of customer and the methods used to distribute the Company’s products and services, including the actual servicing of the contracts as well as the regulatory environment in which the Company operates, all have similar characteristics. Each of our individual dealerships are similar in nature and only engages in the selling and financing of used vehicles. All individual dealerships have similar operating characteristics. As such, individual dealerships have been aggregated into one
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. Significant estimates include, but are not
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Risk The Company provides financing in connection with the sale of substantially all of its vehicles. These sales are made primarily to customers residing in Alabama, Arkansas, Georgia, Kentucky, Mississippi, Missouri, Oklahoma, Tennessee, and Texas, with approximately 28% Periodically, the Company maintains cash in financial institutions in excess of the amounts insured by the federal government. The Company’s revolving credit facilities mature in December 2021.
Line of Credit Facility, Dividend Restrictions [Policy Text Block]	Restrictions on Distributions/Dividends The Company’s revolving credit facilities generally restrict distributions by the Company to its shareholders. The distribution limitations under the credit facilities allow the Company to repurchase shares of its common stock up to certain limits. Under the current limits, the aggregate amount of repurchases after October 25, 2017 $50 first six October 25, 2017, $40 October 25, 2017, 20% 75% twelve 12.5%
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash Equivalents The Company considers all highly liquid debt instruments purchased with original maturities of three
Financing Receivable [Policy Text Block]	Finance Receivables, Repossessions and Charge-offs and Allowance for Credit Losses The Company originates installment sale contracts from the sale of used vehicles at its dealerships. These installment sale contracts carry an average interest rate of approximately 16.4% May 2016, 15.0% 16.5% not not $2.6 July 31, 2019 $2.3 April 30, 2019 . An account is considered delinquent when the customer is one not may 76% July 31, 2019, 3.8% 30 3.5% July 31, 2018. Substantially all of the Company’s automobile contracts involve contracts made to individuals with impaired or limited credit histories or higher debt-to-income ratios than permitted by traditional lenders. Contracts made with buyers who are restricted in their ability to obtain financing from traditional lenders generally entail a higher risk of delinquency, default and repossession, and higher losses than contracts made with buyers with better credit. The Company strives to keep its delinquency percentages low, and not three not Periodically, the Company enters into contract modifications with its customers to extend or modify the payment terms. The Company only enters into a contract modification or extension if it believes such action will increase the amount of monies the Company will ultimately realize on the customer’s account and will increase the likelihood of the customer being able to pay off the vehicle contract. At the time of modification, the Company expects to collect amounts due including accrued interest at the contractual interest rate for the period of delay. No third Accounts are charged-off after the expiration of a statutory notice period for repossessed accounts, or when management determines that the timely collection of future payments is not July 31, 2019, 62 The Company maintains an allowance for credit losses on an aggregate basis at a level it considers sufficient to cover estimated losses inherent in the portfolio at the balance sheet date in the collection of its finance receivables currently outstanding. At July 31, 2019, 32.1 23.1 July 31, 2019, $129.5 24.5% $561.1 $21.8 $10.7 The estimated reserve amount is the Company’s anticipated future net charge-offs for losses incurred through the balance sheet date. The allowance takes into account historical credit loss experience (both timing and severity of losses), with consideration given to recent credit loss trends and changes in contract characteristics (i.e., average amount financed, months outstanding at loss date, term and age of portfolio), delinquency levels, collateral values, economic conditions and underwriting and collection practices. The allowance for credit losses is reviewed at least quarterly by management with any changes reflected in current operations. The calculation of the allowance for credit losses uses the following primary factors: • The number of units repossessed or charged-off as a percentage of total units financed over specific historical periods of time from one five • The average net repossession and charge-off loss per unit during the last eighteen 50% 10 11 eighteen July 31, 2019 12.5 • The timing of repossession and charge-off losses relative to the date of sale (i.e., how long it takes for a repossession or charge-off to occur) for repossessions and charge-offs occurring during the last eighteen A point estimate is produced by this analysis which is then supplemented by any positive or negative subjective factors to arrive at an overall reserve amount that management considers to be a reasonable estimate of losses inherent in the portfolio at the balance sheet date that will be realized via actual charge-offs in the future. Although it is at least reasonably possible that events or circumstances could occur in the future that are not In most states, the Company offers retail customers who finance their vehicle the option of purchasing a payment protection plan product as an add-on to the installment sale contract. This product contractually obligates the Company to cancel the remaining principal outstanding for any contract where the retail customer has totaled the vehicle, as defined by the contract, or the vehicle has been stolen. The Company periodically evaluates anticipated losses to ensure that if anticipated losses exceed deferred payment protection plan revenues, an additional liability is recorded for such difference. No July 31, 2019 April 30, 2019.
Inventory, Policy [Policy Text Block]	Inventory Inventory consists of used vehicles and is valued at the lower of cost or net realizable value on a specific identification basis. Vehicle reconditioning costs are capitalized as a component of inventory. Repossessed vehicles and trade-in vehicles are recorded at fair value, which approximates wholesale value. The cost of used vehicles sold is determined using the specific identification method.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill Goodwill reflects the excess of purchase price over the fair value of specifically identified net assets purchased. Goodwill and intangible assets deemed to have indefinite lives are not no 2019, no 2020.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment are stated at cost. Expenditures for additions, remodels, and improvements are capitalized. Costs of repairs and maintenance are expensed as incurred. Leasehold improvements are amortized over the shorter of the estimated life of the improvement or the lease period. The lease period includes the primary lease term plus any extensions that are reasonably assured. Depreciation is computed using the straight-line method, generally over the following estimated useful lives: Furniture, fixtures and equipment (years) 3 to 7 Leasehold improvements (years) 5 to 15 Buildings and improvements (years) 18 to 39 Property and equipment are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not
Cash Overdraft [Policy Text Block]	Cash Overdraft As checks are presented for payment from the Company’s primary disbursement bank account, monies are automatically drawn against cash collections for the day and, if necessary, are drawn against one not
Deferred Sales Tax [Policy Text Block]	Deferred Sales Tax Deferred sales tax represents a sales tax liability of the Company for vehicles sold on an installment basis in the states of Alabama and Texas. Under Alabama and Texas law for vehicles sold on an installment basis, the related sales tax is due as the payments are collected from the customer, rather than at the time of sale. Deferred sales tax liabilities are reflected in accrued liabilities on the Company’s Condensed Consolidated Balance Sheets.
Income Tax, Policy [Policy Text Block]	Income Taxes Income taxes are accounted for under the liability method. Under this method, deferred income tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates expected to apply in the years in which these differences are expected to be recovered or settled. The quarterly provision for income taxes is determined using an estimated annual effective tax rate, which is based on expected annual taxable income, statutory tax rates and the Company’s best estimate of nontaxable and nondeductible items of income and expense. The effective income tax rates were 21.8% 17.1% three July 31, 2019 July 31, 2018, three July 31, 2019 $276,000 $943,000 three July 31, 2019 July 31, 2018, 2016 09, May 1, 2017. On December 22, 2017, April 30, 2018, 2018. 740, December 22, 2017, 740 35% 21%, January 1, 2018. Occasionally, the Company is audited by taxing authorities. These audits could result in proposed assessments of additional taxes. The Company believes that its tax positions comply in all material respects with applicable tax law. However, tax law is subject to interpretation, and interpretations by taxing authorities could be different from those of the Company, which could result in the imposition of additional taxes. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not not 50 The Company is subject to income taxes in the U.S. federal jurisdiction and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. With few exceptions, the Company is no 2016. The Company’s policy is to recognize accrued interest related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Company had no July 31, 2019 April 30, 2019.
Revenue [Policy Text Block]	Revenue Recognition Revenues are generated principally from the sale of used vehicles, which in most cases includes a service contract and a payment protection plan product, interest income and late fees earned on finance receivables. Revenues are net of taxes collected from customers and remitted to government agencies. Cost of vehicle sales include costs incurred by the Company to prepare the vehicle for sale including license and title costs, gasoline, transport services, and repairs. Revenues from the sale of used vehicles are recognized when the sales contract is signed, the customer has taken possession of the vehicle and, if applicable, financing has been approved. Revenues from the sale of vehicles sold at wholesale are recognized at the time the proceeds are received. Revenues from the sale of service contracts are recognized ratably over the expected duration of the product. Service contract revenues are included in sales and the related expenses are included in cost of sales. Payment protection plan revenues are initially deferred and then recognized to income using the “Rule of 78’s” Sales consist of the following: Three Months Ended (In thousands) 2019 2018 Sales – used autos $ 129,454 $ 125,224 Wholesales – third party 7,181 6,052 Service contract sales 7,470 7,328 Payment protection plan revenue 5,969 5,497 Total $ 150,074 $ 144,101 At July 31, 2019 2018, 90 $2.0 $1.6 $485,000 $446,000 three July 31, 2019 2018, three July 31, 2019 April 30, 2019 $5.3
Earnings Per Share, Policy [Policy Text Block]	Earnings per Share Basic earnings per share are computed by dividing net income attributable to common stockholders by the average number of common shares outstanding during the period. Diluted earnings per share are computed by dividing net income attributable to common stockholders by the average number of common shares outstanding during the period plus dilutive common stock equivalents. The calculation of diluted earnings per share takes into consideration the potentially dilutive effect of common stock equivalents, such as outstanding stock options and non-vested restricted stock, which if exercised or converted into common stock would then share in the earnings of the Company. In computing diluted earnings per share, the Company utilizes the treasury stock method and anti-dilutive securities are excluded.
Share-based Payment Arrangement [Policy Text Block]	Stock-Based Compensation The Company recognizes the cost of employee services received in exchange for awards of equity instruments, such as stock options and restricted stock, based on the fair value of those awards at the date of grant over the requisite service period. The Company uses the Black-Scholes option pricing model to determine the fair value of stock option awards. The Company may March 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting May 1, 2017. $276,000 $943,000 three July 31, 2019 July 31, 2018, not not
Treasury Stock [Policy Text Block]	Treasury Stock Treasury stock may 10,000 14,000
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Occasionally, new accounting pronouncements are issued by the FASB or other standard setting bodies which the Company will adopt as of the specified effective date. Unless otherwise discussed, the Company believes the implementation of recently issued standards which are not not Leases February 2016, 2016 02, Leases 12 2016 02 December 15, 2018, May 1, 2019 $34.5 not Credit Losses June 2016, 2016 13, Financial Instruments Credit Losses 326 2016 13 2016 13 December 15, 2019, not Cloud Computing Arrangement August 2018, 2018 15, Intangibles – Goodwill and Other – Internal-Use Software 350 40 2018 15 2018 15 December 15, 2019, not

Note B - Summary of Significa_2

Note B - Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Jul. 31, 2019
Notes Tables
Property, Plant, and Equipment Useful Life [Table Text Block]	Furniture, fixtures and equipment (years) 3 to 7 Leasehold improvements (years) 5 to 15 Buildings and improvements (years) 18 to 39
Revenue from External Customers by Products and Services [Table Text Block]	Three Months Ended (In thousands) 2019 2018 Sales – used autos $ 129,454 $ 125,224 Wholesales – third party 7,181 6,052 Service contract sales 7,470 7,328 Payment protection plan revenue 5,969 5,497 Total $ 150,074 $ 144,101

Note C - Finance Receivables,_2

Note C - Finance Receivables, Net (Tables)	3 Months Ended
	Jul. 31, 2019
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	(In thousands) July 31, 2019 April 30, 2019 Gross contract amount $ 651,677 $ 631,681 Less unearned finance charges (90,573 ) (88,353 ) Principal balance 561,104 543,328 Less allowance for credit losses (129,494 ) (127,842 ) Finance receivables, net $ 431,610 $ 415,486
Change In Finance Receivables Net [Table Text Block]	Three Months Ended (In thousands) 2019 2018 Balance at beginning of period $ 415,486 $ 383,617 Finance receivable originations 137,855 134,261 Finance receivable collections (74,355 ) (66,740 ) Provision for credit losses (31,475 ) (37,543 ) Losses on claims for payment protection plan (4,230 ) (4,069 ) Inventory acquired in repossession and payment protection plan claims (11,671 ) (11,153 ) Balance at end of period $ 431,610 $ 398,373
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Three Months Ended (In thousands) 2019 2018 Balance at beginning of period $ 127,842 $ 117,821 Provision for credit losses 31,475 37,543 Charge-offs, net of recovered collateral (29,823 ) (32,917 ) Balance at end of period $ 129,494 $ 122,447
Financing Receivable, Past Due [Table Text Block]	(Dollars in thousands) July 31, 2019 April 30, 2019 July 31, 2018 Principal Percent of Principal Percent of Principal Percent of Balance Portfolio Balance Portfolio Balance Portfolio Current $ 445,461 79.39 % $ 435,603 80.17 % $ 408,354 78.40 % 3 - 29 days past due 94,254 16.80 % 91,747 16.89 % 94,042 18.06 % 30 - 60 days past due 15,891 2.83 % 11,362 2.09 % 14,377 2.76 % 61 - 90 days past due 3,533 0.63 % 3,429 0.63 % 2,493 0.48 % > 90 days past due 1,965 0.35 % 1,187 0.22 % 1,554 0.30 % Total $ 561,104 100.00 % $ 543,328 100.00 % $ 520,820 100.00 %
Financing Receivable Credit Quality Indicators [Table Text Block]	Three Months Ended 2019 2018 Principal collected as a percent of average finance receivables 13.5 % 13.1 % Average down-payment percentage 6.5 % 6.1 % Average originating contract term (in months ) 29.9 29.7
Financing Receivable Contract Terms [Table Text Block]	July 31, 2019 July 31, 2018 Portfolio weighted average contract term, including modifications (in months ) 32.1 32.4

Note D - Property and Equipme_2

Note D - Property and Equipment (Tables)	3 Months Ended
	Jul. 31, 2019
Notes Tables
Property, Plant and Equipment [Table Text Block]	(In thousands) July 31, 2019 April 30, 2019 Land $ 7,413 $ 7,413 Buildings and improvements 11,890 11,815 Furniture, fixtures and equipment 13,744 13,307 Leasehold improvements 26,336 26,064 Construction in progress 1,676 1,523 Less accumulated depreciation and amortization (32,488 ) (31,585 ) Total $ 28,571 $ 28,537

Note E - Accrued Liabilities (T

Note E - Accrued Liabilities (Tables)	3 Months Ended
	Jul. 31, 2019
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	(In thousands) July 31, 2019 April 30, 2019 Employee compensation $ 5,051 $ 6,321 Cash overdrafts (see Note B) 3,164 1,274 Deferred sales tax (see Note B) 3,107 3,571 Reserve for PPP claims 2,552 2,433 Health insurance 1,169 686 Other 2,109 4,552 Total $ 17,152 $ 18,837

Note F - Debt Facilities (Table

Note F - Debt Facilities (Tables)	3 Months Ended
	Jul. 31, 2019
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	(In thousands) July 31, 2019 April 30, 2019 Revolving lines of credit $ 158,270 $ 152,440 Notes payable 166 194 Capital lease 743 839 Debt issuance costs (502 ) (555 ) Debt facilities $ 158,677 $ 152,918

Note G - Fair Value Measureme_2

Note G - Fair Value Measurements (Tables)	3 Months Ended
	Jul. 31, 2019
Notes Tables
Fair Value, by Balance Sheet Grouping [Table Text Block]	July 31, 2019 April 30, 2019 (In thousands) Carrying Fair Carrying Fair Cash $ 1,640 $ 1,640 $ 1,752 $ 1,752 Finance receivables, net 431,610 345,079 415,486 334,147 Accounts payable 13,859 13,859 13,659 13,659 Debt facilities 158,677 158,677 152,918 152,918

Note H - Weighted Average Sha_2

Note H - Weighted Average Shares Outstanding (Tables)	3 Months Ended
	Jul. 31, 2019
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended 2019 2018 Weighted average shares outstanding-basic 6,684,282 6,924,035 Dilutive options and restricted stock 332,470 202,650 Weighted average shares outstanding-diluted 7,016,752 7,126,685 Antidilutive securities not included: Options 25,000 120,000 Restricted stock 3,000 -

Note I - Stock-based Compensa_2

Note I - Stock-based Compensation (Tables)	3 Months Ended
	Jul. 31, 2019
Notes Tables
Stock Option Plan Comparison [Table Text Block]	Restated Minimum exercise price as a percentage of fair market value at date of grant 100 % Last expiration date for outstanding options May 1, 2029 Shares available for grant at July 31, 2019 273,500
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three Months Ended 2019 2018 Expected term (years) 5.5 5.5 Risk-free interest rate 2.28 % 2.78 % Volatility 39 % 36 % Dividend yield - -
Schedule of Share-based Compensation, Stock Options, Exercises [Table Text Block]	Three Months Ended (Dollars in thousands) 2019 2018 Options exercised 21,500 162,250 Cash received from option exercises $ 80 $ 3,259 Intrinsic value of options exercised $ 1,284 $ 5,508

Note J - Commitments and Cont_2

Note J - Commitments and Contingencies (Tables)	3 Months Ended
	Jul. 31, 2019
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Maturity of lease liabilities 2020 (remaining) $ 4,813 2021 6,157 2022 5,905 2023 5,841 2024 5,253 Thereafter $ 18,624 Total undiscounted operating lease payments 46,593 Less: imputed interest (10,057 ) Present value of operating lease liabilities $ 36,536

Note K - Supplemental Cash Fl_2

Note K - Supplemental Cash Flow Information (Tables)	3 Months Ended
	Jul. 31, 2019
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Three Months Ended (in thousands) 2019 2018 Supplemental disclosures: Interest paid $ 1,965 $ 1,202 Income taxes paid (refunds received), net 78 (50 ) Non-cash transactions: Inventory acquired in repossession and payment protection plan claims 11,671 11,153 Net settlement option exercises 489 1,417

Note A - Organization and Bus_2

Note A - Organization and Business (Details Textual)	3 Months Ended
	Jul. 31, 2019
Number of Operating Subsidiaries	2
Number of Dealerships Operated	145

Note B - Summary of Significa_3

Note B - Summary of Significant Accounting Policies (Details Textual) - USD ($)	Oct. 25, 2017	May 31, 2016	May 30, 2016	Jul. 31, 2019	Jul. 31, 2018	Oct. 24, 2017	Apr. 30, 2019	Jul. 31, 2019	Jul. 31, 2019	Apr. 30, 2018
Number of Reportable Segments				1
Average Finance Receivable Interest Rate				16.40%
Interest Receivable				$ 2,588,000			$ 2,348,000	$ 2,588,000	$ 2,588,000
Finance Receivables, Customer Payments Due Either Weekly or Bi-Weekly, Percentage				76.00%
Financing Receivable, Greater Than or Equal to 30 Days Past Due, Percent of Portfolio				3.80%	3.50%			3.80%	3.80%
Financing Receivable, Average Days Past Due At Charge Off				62 days
Financing Receivable, Weighted Average Total Contract Term				2 years 243 days
Financing Receivable, Remaining Contract Term				1 year 333 days
Financing Receivable, Allowance for Credit Loss, Ending Balance				$ 129,494,000	$ 122,447,000		127,842,000	$ 129,494,000	$ 129,494,000	$ 117,821,000
Finance Receivables, Allowance, Percent of Principle Balance				24.50%				24.50%	24.50%
Finance Receivable Principal Balance				$ 561,104,000	$ 520,820,000		543,328,000	$ 561,104,000	$ 561,104,000
Deferred Revenue, Total				$ 21,800,000				$ 21,800,000	$ 21,800,000
Percent of Chargeoffs in the First 10 to 11 Months of a Contract				50.00%				50.00%	50.00%
Average Age of Account at Charge-Off Date				1 year 15 days
Payment Protection Plan Liability, Anticipated Losses in Excess of Deferred Revenues				$ 0			0	$ 0	$ 0
Goodwill, Impairment Loss				$ 0			0
Effective Income Tax Rate Reconciliation, Percent, Total				21.80%	17.10%
Tax Adjustments, Settlements, and Unusual Provisions				$ (276,000)	$ (943,000)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent				21.00%
Income Tax Examination, Penalties and Interest Accrued, Total				$ 0			0	0	0
Financing Receivable, Recorded Investment Greater Than 90 Days Past Due				1,965,000	1,554,000		1,187,000	1,965,000	1,965,000
Late Fee Income Generated by Servicing Financial Assets, Amount				485,000	$ 446,000
Contract with Customer, Liability, Revenue Recognized				$ 5,300,000
Treasury Stock Shares to Establish Reserve Account to Secure Service Contracts				10,000
Liabilities, Total				$ 275,343,000			231,632,000	275,343,000	275,343,000
Assets, Total				548,779,000			$ 492,542,000	548,779,000	548,779,000
Accounting Standards Update 2016-02 [Member]
Liabilities, Total				34,500,000				34,500,000	34,500,000
Assets, Total				$ 34,500,000				34,500,000	34,500,000
ACM Insurance Company [Member]
Treasury Stock, Shares to Establish Reserve Account to Meet Regulatory Requirements for Insurance Company				14,000
Service Contract [Member]
Deferred Revenue, Total				$ 10,700,000				10,700,000	$ 10,700,000
Maximum [Member]
Financing Receivable Interest Rate		16.50%	15.00%	16.50%
Allowance for Credit Losses, Primary Factor Units Repossessed or Charged Off Evaluation Period				5 years
Minimum [Member]
Financing Receivable Interest Rate				15.00%
Allowance for Credit Losses, Primary Factor Units Repossessed or Charged Off Evaluation Period				1 year
Revolving Credit Facility [Member]
Line of Credit Facility, Distribution Limitations, Maximum Aggregate Amount of Stock Repurchases						$ 40,000,000		$ 50,000,000
Line of Credit Facility, Distribution Limitations Percentage of Sum of Borrowing Bases	20.00%			20.00%		25.00%			20.00%
Line of Credit Facility, Distribution Limitations Percentage of Consolidated Net Income				75.00%					75.00%
Line of Credit Facility Distribution Limitations Minimum Percentage of Aggregate Funds Available				12.50%					12.50%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Arkansas, USA [Member]
Concentration Risk, Percentage				28.00%

Note B - Summary of Significa_4

Note B - Summary of Significant Accounting Policies - Property and Equipment, Estimated Useful Lives (Details)	3 Months Ended
	Jul. 31, 2019
Furniture, Fixtures and Equipment [Member] | Minimum [Member]
Property, and equipment (Year)	3 years
Furniture, Fixtures and Equipment [Member] | Maximum [Member]
Property, and equipment (Year)	7 years
Leasehold Improvements [Member] | Minimum [Member]
Property, and equipment (Year)	5 years
Leasehold Improvements [Member] | Maximum [Member]
Property, and equipment (Year)	15 years
Building and Building Improvements [Member] | Minimum [Member]
Property, and equipment (Year)	18 years
Building and Building Improvements [Member] | Maximum [Member]
Property, and equipment (Year)	39 years

Note B - Summary of Significa_5

Note B - Summary of Significant Accounting Policies - Sales (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Sales	$ 150,074	$ 144,101
Sales Used Autos [Member]
Sales	129,454	125,224
Wholesales Third Party [Member]
Sales	7,181	6,052
Service Contract Sales [Member]
Sales	7,470	7,328
Payment Protection Plan Revenue [Member]
Sales	$ 5,969	$ 5,497

Note C - Finance Receivables,_3

Note C - Finance Receivables, Net (Details Textual) - USD ($) $ / shares in Units, $ in Millions	May 31, 2016	May 30, 2016	Jul. 31, 2019	Jul. 31, 2018	Apr. 30, 2019
Finance Receivables, Weighted Average Interest Rate			16.40%
Finance Receivables, Number of Loan Classes			1
Finance Receivables, Number of Risk Pools			1
Net Charge Offs as Percentage of Average Finance Receivables			5.40%	6.40%
Collections as Percentage of Average Financing Receivables			13.50%	13.10%
Delinquencies Greater Than 30 Days as Percentage of Average Financing Receivables			3.80%	3.50%
Financing Receivable, Allowance for Credit Loss, Percentage			24.50%		25.00%
Financing Receivable, Allowance for Credit Loss, Recovery			$ 2.6
Financing Receivable, Credit Loss, Expense (Reversal), Net of Tax, From Change in Allowance Percentage			$ (2)
Financing Receivable, Credit Loss, Expense (Reversal), per Diluted Share			$ 0.29
Minimum [Member]
Financing Receivable Interest Rate			15.00%
Financing Receivable Payment Period			1 year 180 days
Maximum [Member]
Financing Receivable Interest Rate	16.50%	15.00%	16.50%
Financing Receivable Payment Period			4 years

Note C - Finance Receivables,_4

Note C - Finance Receivables, Net - Components of Finance Receivables (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Apr. 30, 2019	Jul. 31, 2018	Apr. 30, 2018
Gross contract amount	$ 651,677	$ 631,681
Less unearned finance charges	(90,573)	(88,353)
Principal balance	561,104	543,328	$ 520,820
Less allowance for credit losses	(129,494)	(127,842)	(122,447)	$ (117,821)
Finance receivables, net	$ 431,610	$ 415,486	$ 398,373	$ 383,617

Note C - Finance Receivables,_5

Note C - Finance Receivables, Net - Changes in Finance Receivables (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Balance	$ 415,486	$ 383,617
Finance receivable originations	137,855	134,261
Finance receivable collections	(74,355)	(66,740)
Provision for credit losses	(31,475)	(37,543)
Losses on claims for payment protection plan	(4,230)	(4,069)
Inventory acquired in repossession and payment protection plan claims	(11,671)	(11,153)
Balance	$ 431,610	$ 398,373

Note C - Finance Receivables,_6

Note C - Finance Receivables, Net - Changes in the Finance Receivables Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Balance	$ 127,842	$ 117,821
Provision for credit losses	31,475	37,543
Charge-offs, net of recovered collateral	(29,823)	(32,917)
Balance	$ 129,494	$ 122,447

Note C - Finance Receivables,_7

Note C - Finance Receivables, Net - Credit Quality Information for Finance Receivables (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Apr. 30, 2019	Jul. 31, 2018
Current, Principal Balance	$ 445,461	$ 435,603	$ 408,354
Current, Percent of Portfolio	79.39%	80.17%	78.40%
3 - 29 days past due, Principal Balance	$ 94,254	$ 91,747	$ 94,042
3 - 29 days past due, Percent of Portfolio	16.80%	16.89%	18.06%
30 - 60 days past due, Principal Balance	$ 15,891	$ 11,362	$ 14,377
30 - 60 days past due, Percent of Portfolio	2.83%	2.09%	2.76%
61 - 90 days past due, Principal Balance	$ 3,533	$ 3,429	$ 2,493
61 - 90 days past due, Percent of Portfolio	0.63%	0.63%	0.48%
> 90 days past due, Principal Balance	$ 1,965	$ 1,187	$ 1,554
> 90 days past due, Percent of Portfolio	0.35%	0.22%	0.30%
Total, Principal Balance	$ 561,104	$ 543,328	$ 520,820
Total, Percent of Portfolio	100.00%	100.00%	100.00%

Note C - Finance Receivables,_8

Note C - Finance Receivables, Net - Financing Receivables Analysis (Details)	3 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Principal collected as a percent of average finance receivables	13.50%	13.10%
Average down-payment percentage	6.50%	6.10%
Average originating contract term (in months) (Month)	2 years 177 days	2 years 171 days

Note C - Finance Receivables,_9

Note C - Finance Receivables, Net - Average Financing Receivable Contract Terms (Details)	3 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Portfolio weighted average contract term, including modifications (Month)	2 years 243 days	2 years 252 days

Note D - Property and Equipme_3

Note D - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Apr. 30, 2019
Less accumulated depreciation and amortization	$ (32,488)	$ (31,585)
Property and equipment, net	28,571	28,537
Land [Member]
Property and equipment	7,413	7,413
Building and Building Improvements [Member]
Property and equipment	11,890	11,815
Furniture, Fixtures and Equipment [Member]
Property and equipment	13,744	13,307
Leasehold Improvements [Member]
Property and equipment	26,336	26,064
Construction in Progress [Member]
Property and equipment	$ 1,676	$ 1,523

Note E - Accrued Liabilities -

Note E - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Apr. 30, 2019
Employee compensation	$ 5,051	$ 6,321
Cash overdrafts (see Note B)	3,164	1,274
Deferred sales tax (see Note B)	3,107	3,571
Reserve for PPP claims	2,552	2,433
Health insurance	1,169	686
Other	2,109	4,552
Accrued liabilities	$ 17,152	$ 18,837

Note F - Debt Facilities (Detai

Note F - Debt Facilities (Details Textual)	Dec. 03, 2018USD ($)	Mar. 29, 2018	Oct. 25, 2017USD ($)	Dec. 12, 2016USD ($)	Oct. 31, 2016	Dec. 15, 2015USD ($)	Jul. 31, 2019USD ($)	Jul. 31, 2018USD ($)	Oct. 24, 2017USD ($)	Apr. 30, 2019USD ($)	Jul. 31, 2019USD ($)	Jul. 31, 2019USD ($)	Dec. 02, 2018USD ($)	Feb. 28, 2016USD ($)
Amortization of Debt Issuance Costs and Discounts, Total							$ 54,000	$ 69,000
Debt Issuance Costs, Gross							502,000			$ 555,000	$ 502,000	$ 502,000
Long-term Debt, Total							166,000			194,000	166,000	166,000
Capital Lease Obligations, Total							743,000			839,000	743,000	743,000
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation							218,000			$ 177,000	218,000	218,000
Assets Held under Capital Leases [Member]
Property, Plant and Equipment, Useful Life		3 years
Note Payable Related to the Property Purchase Agreement [Member]
Debt Instrument, Face Amount						$ 550,000
Debt Instrument, Periodic Payment, Total						$ 10,005
Debt Instrument, Interest Rate, Stated Percentage						3.50%
Revolving Credit Facility [Member]
Dividend Restrictions Maximum Aggregate Amount of Stock Repurchases			$ 50,000,000	$ 40,000,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 215,000,000			200,000,000									$ 200,000,000	$ 172,500,000
Line of Credit Facility, Additional Borrowing Capacity, Accordion Feature				$ 50,000,000			$ 56,000,000				$ 56,000,000	$ 56,000,000
Debt Agreement, Accounts Receivable Advances, Term Range One, Rate				55.00%	50.00%
Debt Agreement, Accounts Receivable Advances, Term Range Two, Rate				50.00%	45.00%
Line of Credit Facility, Distribution Limitations Percentage of Sum of Borrowing Bases			20.00%				20.00%		25.00%			20.00%
Leverage Ratio, Maximum Threshold			1.75
Debt Instrument, Interest Rate, Effective Percentage							4.59%			4.73%	4.59%	4.59%
Line of Credit Facility, Distribution Limitations, Maximum Aggregate Amount of Stock Repurchases									$ 40,000,000		$ 50,000,000
Line of Credit Facility, Distribution Limitations Percentage of Consolidated Net Income							75.00%					75.00%
Line of Credit Facility Distribution Limitations Minimum Percentage of Aggregate Funds Available							12.50%					12.50%
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate										2.35%
Revolving Credit Facility [Member] | Second Pricing Tier [Member]
Debt Instrument, Interest Rate, Increase (Decrease)			0.025%
Revolving Credit Facility [Member] | Third Pricing Tier [Member]
Debt Instrument, Interest Rate, Increase (Decrease)			0.125%
Revolving Credit Facility [Member] | Fourth Pricing Tier [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Interest Rate, Increase (Decrease)			3.00%
Revolving Credit Facility [Member] | Second Amendment [Member]
Debt Instrument, Interest Rate, Increase (Decrease)	0.10%
Revolving Credit Facility [Member] | Second Amendment [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.25%
Revolving Credit Facility [Member] | Minimum [Member]
Debt Agreement, Accounts Receivable Advances, Term Range One				3 years 30 days
Debt Agreement, Accounts Receivable Advances, Term Range Two				3 years 210 days
Revolving Credit Facility [Member] | Maximum [Member]
Debt Agreement, Accounts Receivable Advances, Term Range One				3 years 180 days
Debt Agreement, Accounts Receivable Advances, Term Range Two				5 years
Colonial Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 205,000,000												$ 190,000,000
ACM TCM Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 10,000,000

Note F - Debt Facilities - Summ

Note F - Debt Facilities - Summary of Debt Facilities (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Apr. 30, 2019
Debt issuance costs	$ (502)	$ (555)
Debt facilities	158,677	152,918
Line of Credit [Member]
Debt facilities, gross	158,270	152,440
Notes Payable [Member]
Debt facilities, gross	166	194
Capital Lease Obligations [Member]
Debt facilities, gross	$ 743	$ 839

Note G - Fair Value Measureme_3

Note G - Fair Value Measurements (Details Textual)	1 Months Ended
	Jan. 31, 2019
Fair Value Inputs, Discount Rate, Intercompany Transactions	38.50%
Minimum [Member] | Measurement Input, Discount Rate [Member]
Receivables, Measurement Input	0.34
Maximum [Member] | Measurement Input, Discount Rate [Member]
Receivables, Measurement Input	0.39

Note G - Fair Value Measureme_4

Note G - Fair Value Measurements - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Apr. 30, 2019
Reported Value Measurement [Member]
Cash	$ 1,640	$ 1,752
Finance receivables, net	431,610	415,486
Accounts payable	13,859	13,659
Debt facilities	158,677	152,918
Estimate of Fair Value Measurement [Member]
Cash	1,640	1,752
Finance receivables, net	345,079	334,147
Accounts payable	13,859	13,659
Debt facilities	$ 158,677	$ 152,918

Note H - Weighted Average Sha_3

Note H - Weighted Average Shares Outstanding - Weighted Average Shares of Common Stock Outstanding (Details) - shares	3 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Weighted average shares outstanding-basic (in shares)	6,684,282	6,924,035
Dilutive options and restricted stock (in shares)	332,470	202,650
Weighted average shares outstanding-diluted (in shares)	7,016,752	7,126,685
Share-based Payment Arrangement, Option [Member]
Antidilutive securities not included:
Antidilutive securities (in shares)	25,000	120,000
Restricted Stock [Member]
Antidilutive securities not included:
Antidilutive securities (in shares)	3,000

Note I - Stock-based Compensa_3

Note I - Stock-based Compensation (Details Textual) - USD ($)	Aug. 29, 2018	Aug. 05, 2015	Jul. 31, 2019	Jul. 31, 2018
Share-based Payment Arrangement, Expense			$ 1,600,000	$ 1,100,000
Share-based Payment Arrangement, Expense, after Tax			$ 1,200,000	831,000
Share-based Compensation Arrangement by Share-based Payment Award, Options Exercised Through Net Settlements			20,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Reduction in Shares Issued to Satisfy the Exercise Price and Applicable Withholding Taxes			5,685
Share-based Compensation Arrangement by Share-based Payment Award, Options Exercised Through Net Settlements, Net of Shares to Satisfy the Exercise Price and Applicable Withholding Taxes			14,315
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value			$ 23,500,000	13,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number			151,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value			$ 6,300,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term			4 years 328 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price			$ 49.69
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Expense			$ 1,300,000	841,000
Share-based Payment Arrangement, Expense, after Tax			$ 998,000	$ 639,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			25,000	145,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Fair Value			$ 974,000	$ 3,000,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total			$ 2,700,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition			1 year 255 days
Restated Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	2,000,000	1,800,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	200,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			273,500
Restated Option Plan [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		10 years
Stock Incentive Plan [Member]
Share-based Payment Arrangement, Expense			$ 271,000	247,000
Share-based Payment Arrangement, Expense, after Tax			201,000	$ 188,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		450,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized		100,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total			$ 6,700,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition			6 years 328 days
Stock Incentive Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			3,000	3,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			102,527
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance			183,500
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 47.02

Note I - Stock-based Compensa_4

Note I - Stock-based Compensation - Stock Option Plan Comparison (Details) - Restated Option Plan [Member]	3 Months Ended
	Jul. 31, 2019shares
Minimum exercise price as a percentage of fair market value at date of grant	100.00%
Last expiration date for outstanding options	May 1, 2029
Shares available for grant (in shares)	273,500

Note I - Stock-based Compensa_5

Note I - Stock-based Compensation - Options Valuation Assumptions (Details)	3 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Expected term (years) (Year)	5 years 182 days	5 years 182 days
Risk-free interest rate	2.28%	2.78%
Volatility	39.00%	36.00%
Dividend yield

Note I - Stock-based Compensa_6

Note I - Stock-based Compensation - Options Exercised (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Options exercised (in shares)	21,500	162,250
Cash received from option exercises	$ 80	$ 3,259
Intrinsic value of options exercised	$ 1,284	$ 5,508

Note J - Commitments and Cont_3

Note J - Commitments and Contingencies (Details Textual) - USD ($)	3 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Apr. 30, 2019
Operating Lease, Percent of Facilities Leased	82.00%
Operating Leases, Rent Expense, Total	$ 1,700,000	$ 1,600,000
Operating Lease, Weighted Average Discount Rate, Percent			4.73%
Letters of Credit Outstanding, Amount	$ 250,000
Minimum [Member]
Lessee, Operating Lease, Term of Contract	3 years
Maximum [Member]
Lessee, Operating Lease, Term of Contract	5 years

Note J - Commitments and Cont_4

Note J - Commitments and Contingencies - Future Lease Obligations (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Apr. 30, 2019
2020 (remaining)	$ 4,813
2021	6,157
2022	5,905
2023	5,841
2024	5,253
Thereafter	18,624
Total undiscounted operating lease payments	46,593
Less: imputed interest	(10,057)
Lease liability	$ 36,536

Note K - Supplemental Cash Fl_3

Note K - Supplemental Cash Flow Information - Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Supplemental disclosures:
Interest paid	$ 1,965	$ 1,202
Income taxes paid (refunds received), net	78	(50)
Non-cash transactions:
Inventory acquired in repossession and payment protection plan claims	11,671	11,153
Net settlement option exercises	$ 489	$ 1,417