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Network
128 - Disclosure - Shareholders' Equity (Tables)
(http://www.amsoftware.com/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlockTables)
TableStatement [Table]
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0000713425 (http://www.sec.gov/CIK)
Legal Entity [Axis]Entity [Domain]
Statement [Line Items]Period [Axis]
2015-05-01 - 2016-04-30
Summary of Changes in Outstanding Options

A summary of changes in outstanding options for the year ended April 30, 2016 is as follows:

 

     Number of
Shares		      Weighted
Average
Exercise
Price		      Weighted
Average
Remaining
Contractual
Term
(years)		      Aggregate
Intrinsic
Value		  

Outstanding at May 1, 2015

      2,721,069       $ 8.21         

Granted

      1,090,200         8.71         

Exercised

      (306,848 )       5.92         

Forfeited/cancelled

      (14,564 )       6.37         
  

 

 

     

 

 

        

Outstanding at April 30, 2016

      3,489,857       $ 8.58         3.4       $ 2,390,353   
  

 

 

     

 

 

     

 

 

     

 

 

  

Exercisable at April 30, 2016

      1,468,257       $ 8.19         2.1       $ 1,538,359   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

A summary of changes in outstanding options for the year ended April 30, 2015 is as follows:

 

     Number of
Shares		      Weighted
Average
Exercise
Price		      Weighted
Average
Remaining
Contractual
Term
(years)		      Aggregate
Intrinsic
Value		  

Outstanding at May 1, 2014

      2,894,072       $ 7.59         

Granted

      349,000         9.61         

Exercised

      (490,912 )       5.55         

Forfeited/cancelled

      (31,091 )       7.70         
  

 

 

     

 

 

        

Outstanding at April 30, 2015

      2,721,069       $ 8.21         3.3       $ 4,103,941   
  

 

 

     

 

 

     

 

 

     

 

 

  

Exercisable at April 30, 2015

      1,203,369       $ 7.62         2.5       $ 2,526,142   
  

 

 

     

 

 

     

 

 

     

 

 

  
  
Fair Value of Option Award Estimated Using Black-Scholes Option Pricing Model

The fair value of each option award is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions for the years ended April 30, 2016, 2015, and 2014:

 

     2016     2015     2014  

Dividend yield

      4.9 %      4.0 %      4.0 % 

Expected volatility

      33.6 %      34.5 %      47.6 % 

Risk-free interest rate

      1.5 %      1.7 %      1.5 % 

Expected term

      5.0 years        5.0 years        5.0 years