Torotel (TTLO) 10-Q 12 Sep 14 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information Document	3 Months Ended
	Jul. 31, 2014	Sep. 12, 2014
Entity Information [Line Items]	'	'
Entity Registrant Name	'TOROTEL INC	'
Entity Central Index Key	'0000098752	'
Current Fiscal Year End Date	'--04-30	'
Entity Filer Category	'Smaller Reporting Company	'
Document Type	'10-Q	'
Document Period End Date	31-Jul-14	'
Document Fiscal Year Focus	'2015	'
Document Fiscal Period Focus	'Q1	'
Amendment Flag	'false	'
Entity Common Stock, Shares Outstanding	'	5,615,750
Entity Well-known Seasoned Issuer	'No	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Jul. 31, 2014	Apr. 30, 2014
Cash	$1,344,000	$2,038,000
Trade receivables, net	1,266,000	1,502,000
Inventories, net	1,764,000	1,455,000
Prepaid expenses and other current assets	143,000	89,000
Deferred Tax Assets, Net of Valuation Allowance, Current	190,000	177,000
Assets, Current	4,707,000	5,261,000
Property, Plant and Equipment, Net	1,250,000	1,173,000
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent	867,000	808,000
Other assets	80,000	70,000
Total Assets	6,904,000	7,312,000
Current maturities of long-term debt	146,000	124,000
Trade accounts payable	611,000	469,000
Accrued liabilities	369,000	834,000
Customer Deposits, Current	53,000	91,000
Liabilities, Current	1,179,000	1,518,000
Long-term debt, less current maturities	569,000	527,000
Common stock, at par value	60,000	60,000
Capital in excess of par value	12,311,000	12,307,000
Accumulated deficit	-7,206,000	-7,091,000
Treasury stock, at cost	-9,000	-9,000
Stockholders' Equity Attributable to Parent	5,156,000	5,267,000
Total Liabilities and Stockholders' Equity	$6,904,000	$7,312,000

Consolidated_Statement_of_Oper

Consolidated Statement of Operations (USD $)	3 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Net sales	$2,695,000	$3,485,000
Cost of goods sold	1,857,000	2,178,000
Gross profit	838,000	1,307,000
Engineering	177,000	147,000
Selling, general and administrative	841,000	872,000
Operating Expenses	1,018,000	1,019,000
Earnings from operations	-180,000	288,000
Interest expense, net	7,000	9,000
Earnings before provision for income taxes	-187,000	279,000
Income Tax Expense (Benefit)	-72,000	107,000
Net Income (Loss) Attributable to Parent	($115,000)	$172,000
Earnings Per Share, Basic	'	$0.03

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Cash flows from operating activities:	'	'
Net Income (Loss) Attributable to Parent	($115,000)	$172,000
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities:	'	'
Stock compensation cost amortized	4,000	'
Restricted Stock or Unit Expense	'	4,000
Depreciation	82,000	94,000
Deferred income taxes	-72,000	107,000
Change in value of stock appreciation rights	0	93,000
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost	-250,000	0
Trade receivables	236,000	355,000
Inventories	-309,000	-81,000
Prepaid expenses and other assets	-64,000	-1,000
Trade accounts payable	142,000	252,000
Accrued liabilities	-215,000	-212,000
Customer deposits	-38,000	-566,000
Net cash provided by (used in) operating activities	-599,000	217,000
Cash flows from investing activities:	'	'
Capital expenditures	-159,000	-58,000
Net cash used in investing activities	-159,000	-58,000
Cash flows from financing activities:	'	'
Principal payments on long-term debt	-34,000	-28,000
Proceeds from Issuance of Long-term Debt	100,000	0
Payments on capital lease obligations	-2,000	-7,000
Net cash provided by (used in) financing activities	64,000	-35,000
Net increase (decrease) in cash	-694,000	124,000
Cash, beginning of year	2,038,000	1,593,000
Cash, end of year	1,344,000	1,717,000
Interest	7,000	9,000
Income taxes	19,000	0
Capital expenditure	'	0
Proceeds from capital lease	'	$0

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets Parenthetical (Parentheticals) (USD $)	Jul. 31, 2014	Apr. 30, 2014
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	6,000,000	6,000,000
Common stock, shares issued	5,615,750	5,615,750
Common Stock, Shares, Outstanding	5,615,750	5,615,750

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Jul. 31, 2014
Basis of Presentation [Abstract]	'
Basis of Presentation and Significant Accounting Policies [Text Block]	'
	BASIS OF PRESENTATION
	The consolidated condensed balance sheet as of April 30, 2014, which has been derived from the audited financial statements of Torotel, Inc. ("Torotel"), is accompanied by the unaudited interim consolidated condensed financial statements, which reflect the normal recurring adjustments that in the opinion of management are necessary to present fairly Torotel’s consolidated financial position at July 31, 2014, and the consolidated results of operations for the three months ended July 31, 2014, and 2013, respectively.
	The unaudited interim consolidated condensed financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC").  Certain information and note disclosures normally included in the annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although management believes the disclosures made are adequate to make the information not misleading. The financial statements contained herein should be read in conjunction with Torotel’s consolidated financial statements and related notes filed on Torotel's Form 10-K for the year ended April 30, 2014 as filed with the SEC on July 3, 2014.

Nature_of_Operations

Nature of Operations	3 Months Ended
	Jul. 31, 2014
Nature of Operations [Abstract]	'
Nature of Operations [Text Block]	'
	NATURE OF OPERATIONS
	Torotel conducts business primarily through its wholly owned subsidiary, Torotel Products, Inc. (“Torotel Products”), but also operates another wholly owned subsidiary, Electronika, Inc. (“Electronika”).  Another subsidiary, Torotel Manufacturing Corporation ("TMC"), previously provided manufacturing services to Torotel Products. TMC ceased activities on December 31, 2012.  Torotel specializes in the custom design and manufacture of a wide variety of precision magnetic components, consisting of transformers, inductors, reactors, chokes, toroidal coils, high voltage transformers, dry-type transformers and electro-mechanical assemblies, for use in commercial, industrial and military electronics.  Torotel also distributes ballast transformers for the airline industry.

Inventories

Inventories	3 Months Ended
	Jul. 31, 2014
Inventories [Abstract]	'
Inventory Disclosure [Text Block]	'
	NOTE 3—INVENTORIES
	The following table summarizes the components of inventories:
		July 31, 2014		April 30, 2014
	Raw materials	$	1,092,000	$	955,000
	Work in process	390,000		261,000
	Finished goods	282,000		239,000
		$	1,764,000	$	1,455,000

Financing_Agreements

Financing Agreements	3 Months Ended
	Jul. 31, 2014
Financing Agreements [Abstract]	'
Debt Disclosure [Text Block]	'
	NOTE 4—FINANCING AGREEMENTS
	Torotel Products has a financing agreement (the “financing agreement”) with Commerce Bank, N.A (the “Bank”).  The financing agreement provides for a revolving line of credit, a guidance line of credit, and a real estate term loan. Both Torotel and Electronika serve as additional guarantors to all notes described below. A summary of the notes within the financing agreement as of July 31, 2014 is provided below:
		Line of Credit			Mortgage note payable to Commerce Bank			First Equipment loan note payable to Commerce Bank			Second Equipment loan note payable to Commerce Bank
	Proceeds received	$	—		$	542,000		$	380,000		$	100,000
	Amount previously repaid	—			18,000			281,000			6,000
	Total debt outstanding	$	—		$	524,000		$	99,000		$	94,000
	Rate	4		%	4.05		%	4.63		%	4.25		%
	Maturity date	27-Sep-14			27-Jan-19			26-Sep-15			27-May-18
	Monthly payment	$	—		$	4,873		$	7,123		$	2,269
	Additional Criteria	Borrowing base limited to 75% of eligible receivables			15 year amortization schedule			Advance rate equal to 80% of the price of the equipment purchased			Advance rate equal to 80% of the price of the equipment purchased
	The revolving line of credit, to be used for working capital purposes, is renewable annually.  The associated interest rate is equal to the greater of the floating Commerce Bank Prime Rate (currently 3.25%) or a floor of 4% (as listed above).  Monthly repayments of interest only are required with the principal due at maturity.  The maximum borrowing of this line of credit is $500,000. This facility is cross collateralized and cross defaulted with all other facilities of Torotel Products and is secured by a first lien on all business assets of Torotel Products.
	The mortgage note requires monthly payments consisting of both interest and principal.  This facility is cross collateralized and cross defaulted with all other facilities of Torotel Products and is secured by a first real estate mortgage on the property located at 620 North Lindenwood Drive in Olathe, Kansas. This loan was refinanced on February 21, 2014 with a principal amount of $542,000.
	The equipment note is a guidance line of credit to be used for equipment purchases. Monthly repayments consisting of both interest and principal are required. This facility is cross collateralized and cross defaulted with all other facilities of Torotel Products and is secured by a purchase money security interest in the assets purchased as well as a first lien on all business assets of Torotel Products. The maximum borrowing of this line of credit is $500,000.
	Torotel is also required to comply with specified financial covenants in its guaranty of the financing agreement. As of July 31, 2014, Torotel was in compliance with these covenants.

Income_Taxes

Income Taxes	3 Months Ended
	Jul. 31, 2014
Income Taxes [Abstract]	'
Income Tax Disclosure [Text Block]	'
	INCOME TAXES
	Our effective income tax rates were 38.5% for the three months ended July 31, 2014 and 38.4% for the three months ended July 31, 2013.
	As of July 31, 2014, the federal tax returns for the fiscal years ended 2010 through 2014 are open to audit until the statute of limitations closes for the years in which our net operating losses are utilized. We would recognize interest and penalties accrued on unrecognized tax benefits as well as interest received from favorable tax settlements within income tax expense. As of July 31, 2014, we recorded no accrued interest or penalties related to uncertain tax positions. We expect no significant change in the amount of unrecognized tax benefit, accrued interest or penalties within the next twelve months.

Restricted_Stock

Restricted Stock	3 Months Ended
	Jul. 31, 2014
Restricted Stock [Abstract]	'
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	'
	RESTRICTED STOCK AGREEMENTS
	Restricted Stock Agreements are authorized by the Compensation and Nominating Committee (the "Committee") and the Board of Directors of Torotel (the "Board"). The Committee and the Board have determined that the interests of Torotel and its stockholders will be promoted by hiring talented individuals and, to induce such individuals to accept employment with Torotel, the Committee and the Board believe a key component of such individuals' compensation should be granting equity ownership opportunities based upon the acceptance of employment and the continuing employment of such individuals, subject to certain conditions and restrictions. The Restricted Stock Agreements afford the grantees all of the rights of a stockholder with respect to the award shares, including the right to vote such shares and to receive dividends and other distributions payable with respect to such shares since the date of award. Under the terms of each agreement, the non-vested shares are restricted as to disposition and subject to forfeiture under certain circumstances. The Restricted Stock Agreements further provide, subject to certain conditions, that if prior to all of the restricted shares having vested, we undergo a change in control, then all of the restricted shares shall be vested and no longer subject to restrictions under the Restricted Stock Agreements.The restricted shares are treated as non-vested stock; accordingly, the fair value of the restricted stock at the date of award is offset against capital in excess of par value in the accompanying consolidated balance sheets under stockholders' equity.
	On June 17, 2013, we entered into Restricted Stock Agreements with three key employees pursuant to the SAP. The aggregate amount of the restricted stock awards was 400,000 shares of common stock, 0.01 par value per share. These shares were transferred from treasury shares. Based on the market price of $0.50 for our common stock as of June 17, 2013, the fair value of the restricted stock at the date of award was $200,000. The form of the Restricted Stock Agreement was filed as Exhibit 10.1to our Form 8-K filed with the SEC on June 19, 2013. The shares issued pursuant to the Restricted Stock Agreements on June 17, 2013 are restricted and may not be sold, assigned, pledged or otherwise disposed of until the restrictions lapse. The restrictions will lapse on the fifth anniversary of the date of grant if during the five (5) year restriction period, (1) Torotel's cumulative annual growth in earnings before interest and taxes ("EBIT") is at least 10% and (2) Torotel's average return on capital employed ("ROCE") is at least 25%. The restrictions will also lapse, if prior to the fifth anniversary of the date of grant, (1) the grantee's employment with Torotel is terminated by reason of disability, (2) the grantee dies, or (3) the Committee, in its sole discretion, terminates the restrictions. If the restrictions on such shares have not lapsed by the fifth anniversary of the date of grant, such shares will be forfeited to Torotel. Stock compensation cost net of an appropriate pre-vesting forfeiture rate is recorded per quarter for the remainder of the vesting period provided the financial performance metrics as outlined in the SAP are likely to be attained.
	Total stock compensation cost for the three months ended July 31, 2014 and 2013 was $4,000 and $4,000, respectively.
	Restricted stock activity for each three month period through July 31 is summarized as follows:
		2014			2013
		Restricted	Weighted		Restricted	Weighted
		Shares	Average		Shares	Average
		Under	Grant		Under	Grant
		Option	Price		Option	Price
	Outstanding at May 1	350,000	$	0.5	—	$	—
	Granted	—	—		400,000	0.5
	Vested	—	—		—	—
	Forfeited	—	—		—	—
	Outstanding at July 31	350,000	$	0.5	400,000	$	0.5

Stockholders_Equity

Stockholders' Equity	3 Months Ended
	Jul. 31, 2014
Stockholders' Equity Attributable to Parent [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	STOCKHOLDERS' EQUITY
	The changes in shares of common stock outstanding as of July 31 of each year are summarized as follows:
		2014	2013
	Balance, May 1	5,615,750	5,265,750
	Restricted stock activity	—	400,000
	Balance, July 31	5,615,750	5,665,750

Earnings_per_Share

Earnings per Share	3 Months Ended
	Jul. 31, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	EARNINGS PER SHARE
	Basic and diluted earnings per share are computed using the two-class method. The two-class method is an earnings allocation formula that determines net income per share for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. Per share amounts are computed by dividing net income attributable to common shareholders by the weighted average shares outstanding during each period.
	The basic earnings per common share were computed as follows:
		Three Months Ended
		2014			2013
	Net earnings (loss)	$	(115,000	)	$	172,000
	Amounts allocated to participating securities (nonvested restricted shares)	—			(12,000		)
	Net income (loss) attributable to common shareholders	$	(115,000	)	$	160,000
	Basic weighted average common shares	5,265,750			5,265,750
	Earnings per share attributable to common shareholders:
	Basic earnings (loss) per share	$	(0.02	)	$	0.03
	ASC 260, Earnings per Share, provides that unvested share-based payment awards that contain non-forfeitable rights to dividends are considered to be participating securities and must be included in the computation of earnings per share pursuant to the two-class method.  Diluted earnings per share is not presented as we do not have any shares considered incremental and dilutive.

Stock_Appreciation_Rights

Stock Appreciation Rights	3 Months Ended
	Jul. 31, 2014
SARS [Abstract]	'
Stock Appreciation Rights [Text Block]	'
	STOCK APPRECIATION RIGHTS
	The Board approved the Directors Stock Appreciation Rights Plan (the "Plan") for non-employee directors in September 2004. The Plan was amended effective December 6, 2013, to permit directors to exercise fully vested stock appreciation rights ("SARS") after five years from the grant date. The Amended and Restated Directors Stock Appreciation Rights Plan (the "Amended Plan") was filed as Exhibit 10.12 to Torotel's current report on Form 8-K filed with the SEC on December 11, 2013.
	As under the prior version of the Plan, under the Amended Plan each SAR granted as a part of the Amended Plan may be exercised to the extent that the grantee is vested in such SAR and unvested SARS will be forfeited. The SARS will vest according to the following schedule:
	Number of Years the Grantee has remained	Shares represented
	a Torotel director following the Date of Grant	by a SAR in which
		a Grantee is Vested
	Under one	—	%
	At least one but less than two	33	%
	At least two but less than three	67	%
	Three or more	100	%
	In accordance with ASC 718, compensation expense is recognized over the vesting period based upon the estimated fair value of the SARS pursuant to the terms of the Amended Plan using the Black-Scholes options-pricing model as of the end of each financial reporting period. The stock volatility rate was determined using the historical volatility rates of our common stock based on the weekly closing price of our stock. The expected life represents the actual life as well as the use of the simplified method prescribed by the SEC, which uses the average of the vesting period and expiration period of each group of SARS. The interest rates used were the government Treasury bill rate on the date of valuation. Dividend yield was based on the historical policy that we have not issued any form of dividend since 1985.
	On January 24, 2014, the Board terminated the Amended Plan by unanimous written consent of the members of the Board. The Amended Plan was terminated as part of Torotel’s plans to move toward different long-term performance-based awards, which are still under consideration. The Board consent authorizing the termination provides for vested SARS to be exercised within 75 days following the effective date of the termination as well as a one-time cash award equal to the cumulative and aggregate fair market value on the date of grant of any and all unvested SARS held by a grantee under the Plan. All payments related to the exercise of vested SARS and the one-time cash award for unvested SARS occurred on May 15, 2014 and amounted to $250,000.
	SARs transactions for the three month period through July 31, 2013 is summarized as follows:
		2013
		SARs		Weighted
		Under		Average
		Option		Grant
				Price
	Outstanding at beginning of period	320,000		$	0.409
	Granted	40,000		$	0.41
	Exercised	—		$	—
	Terminated	—		$	—
	Outstanding at end of period	360,000		$	0.409
	SARs exercisable at end of period	280,000		$	0.415
	Weighted average fair value of SARs granted during the period			$	0.41
	The following information applies to SARS vested and outstanding for the three month period through July 31, 2013:
		2013
	Number outstanding	360,000
	Range of grant prices, upper limit	$	0.695
	Range of grant prices, lower limit	$	0.208
	Weighted average grant price	$	0.409
	Weighted average contractual life remaining (in years)	5.17
	10-day average market price	$	0.768
	Weighted average stock volatility	140.65		%
	Weighted average expected life	4.52
	Weighted average risk free rate	1.17		%
	Weighted average dividend yield	—		%
	Weighted average fair value price	$	0.731
	Aggregate fair value	$	181,000
	Aggregate intrinsic value	$	99,000
	Total compensation expense (credit) for three months ended July 31	$	93,000
	Unrecognized compensation expense related to non-vested SARs granted	$	50,000
	Expected period to recognize compensation expense related to non-vested SARs granted (in years)	2.13
	Total liability for SARs on consolidated balance sheets	$	189,000

Customer_Deposits

Customer Deposits	3 Months Ended
	Jul. 31, 2014
Customer Deposits [Abstract]	'
Other Liabilities Disclosure [Text Block]	'
	CUSTOMER DEPOSITS
	For certain customers, we collect payment at the time the order is placed. These deposits are classified as a liability and will be recognized as revenue at the time of shipment in accordance with our revenue recognition policy. As of July 31, 2014 we had approximately $53,000 in customer deposits related to these arrangements.

Concentrations_of_Credit_Risk

Concentrations of Credit Risk	3 Months Ended
	Jul. 31, 2014
Concentration Risk Disclosure [Text Block]	'
	CONCENTRATIONS OF CREDIT RISK
	Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash and accounts receivable.  We grant unsecured credit to most of our customers.  We do not believe that we are exposed to any extraordinary credit risk as a result of this policy.  At various times, and at July 31, 2014, cash balances exceeded federally insured limits. However, we have incurred no losses in the cash accounts and we do not believe we are exposed to any significant credit risk with respect to our cash.

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Jul. 31, 2014
Inventories [Abstract]	'
Schedule of Inventory, Current [Table Text Block]	'
		July 31, 2014		April 30, 2014
	Raw materials	$	1,092,000	$	955,000
	Work in process	390,000		261,000
	Finished goods	282,000		239,000
		$	1,764,000	$	1,455,000

Financing_Agreements_Tables

Financing Agreements (Tables)	3 Months Ended
	Jul. 31, 2014
Financing Agreements [Abstract]	'
Schedule of Debt [Table Text Block]	'
		Line of Credit			Mortgage note payable to Commerce Bank			First Equipment loan note payable to Commerce Bank			Second Equipment loan note payable to Commerce Bank
	Proceeds received	$	—		$	542,000		$	380,000		$	100,000
	Amount previously repaid	—			18,000			281,000			6,000
	Total debt outstanding	$	—		$	524,000		$	99,000		$	94,000
	Rate	4		%	4.05		%	4.63		%	4.25		%
	Maturity date	27-Sep-14			27-Jan-19			26-Sep-15			27-May-18
	Monthly payment	$	—		$	4,873		$	7,123		$	2,269
	Additional Criteria	Borrowing base limited to 75% of eligible receivables			15 year amortization schedule			Advance rate equal to 80% of the price of the equipment purchased			Advance rate equal to 80% of the price of the equipment purchased

Restricted_Stock_Tables

Restricted Stock (Tables)	3 Months Ended
	Jul. 31, 2014
Restricted Stock [Abstract]	'
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	'
		2014			2013
		Restricted	Weighted		Restricted	Weighted
		Shares	Average		Shares	Average
		Under	Grant		Under	Grant
		Option	Price		Option	Price
	Outstanding at May 1	350,000	$	0.5	—	$	—
	Granted	—	—		400,000	0.5
	Vested	—	—		—	—
	Forfeited	—	—		—	—
	Outstanding at July 31	350,000	$	0.5	400,000	$	0.5

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	3 Months Ended
	Jul. 31, 2014
Stockholders' Equity Attributable to Parent [Abstract]	'
Schedule of Stock by Class [Table Text Block]	'
		2014	2013
	Balance, May 1	5,615,750	5,265,750
	Restricted stock activity	—	400,000
	Balance, July 31	5,615,750	5,665,750

Earnings_per_Share_Tables

Earnings per Share (Tables)	3 Months Ended
	Jul. 31, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method [Table Text Block]	'
		Three Months Ended
		2014			2013
	Net earnings (loss)	$	(115,000	)	$	172,000
	Amounts allocated to participating securities (nonvested restricted shares)	—			(12,000		)
	Net income (loss) attributable to common shareholders	$	(115,000	)	$	160,000
	Basic weighted average common shares	5,265,750			5,265,750
	Earnings per share attributable to common shareholders:
	Basic earnings (loss) per share	$	(0.02	)	$	0.03

Stock_Appreciation_Rights_Tabl

Stock Appreciation Rights (Tables)	3 Months Ended
	Jul. 31, 2014
SARS [Abstract]	'
Stock Appreciation Rights Vesting Schedule [Table Text Block]	'
	Number of Years the Grantee has remained	Shares represented
	a Torotel director following the Date of Grant	by a SAR in which
		a Grantee is Vested
	Under one	—	%
	At least one but less than two	33	%
	At least two but less than three	67	%
	Three or more	100	%
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block]	'
		2013
		SARs		Weighted
		Under		Average
		Option		Grant
				Price
	Outstanding at beginning of period	320,000		$	0.409
	Granted	40,000		$	0.41
	Exercised	—		$	—
	Terminated	—		$	—
	Outstanding at end of period	360,000		$	0.409
	SARs exercisable at end of period	280,000		$	0.415
	Weighted average fair value of SARs granted during the period			$	0.41
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	'
		2013
	Number outstanding	360,000
	Range of grant prices, upper limit	$	0.695
	Range of grant prices, lower limit	$	0.208
	Weighted average grant price	$	0.409
	Weighted average contractual life remaining (in years)	5.17
	10-day average market price	$	0.768
	Weighted average stock volatility	140.65		%
	Weighted average expected life	4.52
	Weighted average risk free rate	1.17		%
	Weighted average dividend yield	—		%
	Weighted average fair value price	$	0.731
	Aggregate fair value	$	181,000
	Aggregate intrinsic value	$	99,000
	Total compensation expense (credit) for three months ended July 31	$	93,000
	Unrecognized compensation expense related to non-vested SARs granted	$	50,000
	Expected period to recognize compensation expense related to non-vested SARs granted (in years)	2.13
	Total liability for SARs on consolidated balance sheets	$	189,000

Inventories_Details

Inventories (Details) (USD $)	Jul. 31, 2014	Apr. 30, 2014
Inventory, Net	$1,764,000	$1,455,000
Raw Materials, Net of Reserves [Member]	'	'
Inventory, Raw Materials, Net of Reserves	1,092,000	955,000
Work in Process [Member]	'	'
Inventory, Work in Process, Net of Reserves	390,000	261,000
Finished Goods, Net of Reserves [Member]	'	'
Inventory, Finished Goods, Net of Reserves	282,000	239,000
Inventory Type [Domain]	'	'
Inventory, Net	$1,764,000	$1,455,000

Financing_Agreements_Schedule_

Financing Agreements Schedule of Debt (Details) (USD $)	3 Months Ended
	Jul. 31, 2014
Notes Payable to Banks [Member]	'
Debt Instrument [Line Items]	'
Debt Instrument, Face Amount	($500,000)
Notes Payable to Banks [Member] | Loan Series 1 [Member]	'
Debt Instrument [Line Items]	'
Proceeds Received	380,000
Amount Paid	281,000
Long-term Debt	99,000
Debt Instrument, Interest Rate, Stated Percentage	4.63%
Debt Instrument, Maturity Date	26-Sep-15
Debt Instrument, Periodic Payment	7,123
Additional Debt Disclosure	'Advance rate equal to 80% of the price of the equipment purchased
Notes Payable to Banks [Member] | Loan Series 2 [Member]	'
Debt Instrument [Line Items]	'
Proceeds Received	100,000
Amount Paid	6,000
Long-term Debt	94,000
Debt Instrument, Interest Rate, Stated Percentage	4.25%
Debt Instrument, Maturity Date	27-May-18
Debt Instrument, Periodic Payment	2,269
Additional Debt Disclosure	'Advance rate equal to 80% of the price of the equipment purchased
Line of Credit [Member]	'
Debt Instrument [Line Items]	'
Debt Instrument, Face Amount	-500,000
Proceeds Received	0
Amount Paid	0
Short-term Debt	0
Debt Instrument, Interest Rate, Stated Percentage	4.00%
Debt Instrument, Maturity Date	27-Sep-14
Debt Instrument, Periodic Payment	0
Additional Debt Disclosure	'Borrowing base limited to 75% of eligible receivables
Mortgages [Member]	'
Debt Instrument [Line Items]	'
Debt Instrument, Face Amount	-542,000
Proceeds Received	542,000
Amount Paid	18,000
Long-term Debt	524,000
Debt Instrument, Interest Rate, Stated Percentage	4.05%
Debt Instrument, Maturity Date	27-Jan-19
Debt Instrument, Periodic Payment	$4,873
Additional Debt Disclosure	'15 year amortization schedule

Income_Taxes_Details

Income Taxes (Details)	3 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Effective Income Tax Rate, Continuing Operations	38.50%	38.40%

Restricted_Stock_Details

Restricted Stock (Details) (Stock Award Plan [Member], Restricted Stock [Member], Common Class A [Member], USD $)	3 Months Ended	9 Months Ended
	Jul. 31, 2014	Jan. 31, 2014	Jan. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Outstanding at May 1	'	350,000	0
Restricted shares granted	0	'	400,000
Restricted shares vested	'	0	0
Restricted shares forfeited	'	0	0
Outstanding at July 31	'	350,000	400,000
Weighted Average [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Weighted Average Grant Date Fair Value, Beginning Balance	'	0.5	0
Weighted Average Grant Date Fair Value, Granted	'	0	0.5
Weighted Average Grant Date Fair Value, Vested	'	0	0
Weighted Average Grant Date Fair Value, Forfeitures	'	0	0
Weighted Average Grant Date Fair Value, Ending Balance	'	0.5	0.5

Restricted_Stock_Stock_Compens

Restricted Stock Stock Compensation Expense (Details) (USD $)	3 Months Ended		9 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jan. 31, 2014	Jan. 31, 2013
			Stock Award Plan [Member]	Stock Award Plan [Member]
			Restricted Stock [Member]	Restricted Stock [Member]
			Common Stock [Member]	Common Stock [Member]
Restricted Stock Compensation Expense [Line Items]	'	'	'	'
Allocated Share-based Compensation Expense	$0	$93,000	$4,000	$4,000

Restricted_Stock_2013_Agreemen

Restricted Stock 2013 Agreement (Details) (Restricted Stock [Member], USD $)	Jun. 17, 2013
Common Class A [Member] | Stock Award Plan [Member]	'
Restricted Stock 2013 Agreement Schedule [Line Items]	'
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	400,000
Common Stock [Member] | 2009 Tranche [Member]	'
Restricted Stock 2013 Agreement Schedule [Line Items]	'
Fair Value on Grant Date	200,000
Common Stock [Member] | 2013 Tranche [Member]	'
Restricted Stock 2013 Agreement Schedule [Line Items]	'
Par Value of Shares Granted	0.01
Grant Date Stock Price	0.5

Stockholders_Equity_Schedule_o

Stockholders' Equity Schedule of Stock by Class (Details) (Common Stock [Member])	3 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Common Stock [Member]	'	'
Class of Stock [Line Items]	'	'
Common Stock Outstanding at May 1	5,615,750	5,265,750
Restricted Stock Activity	0	400,000
Common Stock Outstanding at April 30	5,615,750	5,665,750

Earnings_per_Share_Details

Earnings per Share (Details) (USD $)	3 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'	'
Net Income (Loss) Attributable to Parent	($115,000)	$172,000
Earnings Per Share, Basic	'	$0.03
Common Stock [Member]	'	'
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'	'
Net Income (Loss) Attributable to Parent	-115,000	172,000
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic	0	12,000
Net Income (Loss) Available to Common Stockholders, Basic	($115,000)	$160,000
Weighted Average Number of Shares Outstanding, Basic	5,265,750	5,265,750
Earnings Per Share, Basic	($0.02)	$0.03

Stock_Appreciation_Rights_Deta

Stock Appreciation Rights (Details) (USD $)	3 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
SARS Valuation Assumptions [Line Items]	'	'
Allocated Share-based Compensation Expense	$0	$93,000
Stock Appreciation Rights (SARs) [Member]	'	'
SARS Valuation Assumptions [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	'	360,000
Stock Appreciation Rights, Weighted Average Grant Price	'	$0.41
Stock Appreciation Rights, Weighted Average Contractual Life Remaining	'	5.17
Stock Appreciation Rights, Weighted Average Market Price	'	$0.77
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate	'	140.65%
Weighted Average Expected Life	'	4.52
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	'	1.17%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	'	0.00%
Stock Appreciation Rights, Weighted Average Fair Value Price	'	$0.73
Weighted Average Aggregate Fair Value	'	181,000
Weighted Average Aggregate Intrinsic Value	'	99,000
Stock Appreciation Rights Recovery	'	93,000
Unrecognized Compensation Expense Related to Non-Vested SARS Granted	'	50,000
Expected Period to Recognize Compensation Expense Related to Non-Vested SARSs Granted	'	2.13
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent	'	$189,000
Stock Appreciation Rights (SARs) [Member] | Maximum [Member]	'	'
SARS Valuation Assumptions [Line Items]	'	'
Stock Appreciation Rights, Upper Range of Grant Price	'	$0.70
Stock Appreciation Rights (SARs) [Member] | Minimum [Member]	'	'
SARS Valuation Assumptions [Line Items]	'	'
Stock Appreciation Rights, Lower Range of Grant Price	'	$0.21

Stock_Appreciation_Rights_Stoc

Stock Appreciation Rights Stock Appreciation Rights Rollforward (Details) (Stock Appreciation Rights (SARs) [Member], USD $)	3 Months Ended
	Jul. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Outstanding at Beginning of Year	320,000
SARs Granted	40,000
SARs Exercised	0
SARs Forfeited	0
Outstanding at Ending of Year	360,000
SARs Exercisable at End of Year	280,000
Weighted Average [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Weighted Average at Beginning of Year	0.409
Weighted Average Granted	0.41
Weighted Average Exercised	0
Weighted Average Forfeitures	0
Weighted Average at Ending of Year	0.409
Weighted Average Fair Value of SARs Granted During the Year	0.41
Weighted Average SARs Exercisable at End of Year	0.415

Stock_Appreciation_Rights_Stoc1

Stock Appreciation Rights Stock Appreciation Rights Vesting Schedule (Details) (Stock Appreciation Rights (SARs) [Member])	3 Months Ended
	Jul. 31, 2013
Stock Appreciation Rights (SARs) [Member]	'
Vesting Schedule [Line Items]	'
Vested In Under One Year	0.00%
Vested At Least One But Less Than Two Years	33.00%
Vested At Least Two But Less Than Three Years	67.00%
Vested Three or More Years	100.00%

Customer_Deposits_Details

Customer Deposits (Details) (USD $)	Jul. 31, 2014	Apr. 30, 2014
Customer Advances and Deposits [Line Items]	'	'
Customer Deposits, Current	$53,000	$91,000
Customer Deposits [Member]	'	'
Customer Advances and Deposits [Line Items]	'	'
Customer Deposits, Current	$53,000	'

Concentrations_of_Credit_Risk_

Concentrations of Credit Risk (Details) (Cash [Member], USD $)	3 Months Ended
	Jul. 31, 2014
Cash [Member]	'
Concentration Risk [Line Items]	'
Credit Risk due to Bank Failure	$0