Annual report pursuant to Section 13 and 15(d)

Quarterly Results

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Quarterly Results
 12 Months Ended
Apr. 30, 2013
Quarterly Results
15. Quarterly Results (Unaudited)

The following table sets forth certain unaudited consolidated statement of income data for the quarters in fiscal 2013 and 2012. The unaudited quarterly information has been prepared on the same basis as the annual financial statements and, in management’s opinion, includes all adjustments necessary to present fairly the information for the quarters presented.

 

    Quarters Ended  
    Fiscal 2013     Fiscal 2012  
    April 30(1)     January 31     October 31     July 31     April 30     January 31     October 31     July 31  
    (in thousands, except per share data)  

Fee revenue

   $ 227,902      $ 202,004      $ 196,231      $ 186,694      $ 198,087      $ 185,951      $ 200,136      $ 206,331   

Operating income

   $ 15,392      $ 8,706      $ 2,769      $ 17,009      $ 15,352      $ 16,165      $ 25,407      $ 25,942   

Net income

   $ 12,197      $ 9,482      $ 1,196      $ 10,418      $ 12,028      $ 11,717      $ 15,147      $ 15,411   

Net income per share:

                

Basic

   $ 0.26      $ 0.20      $ 0.03      $ 0.22      $ 0.26      $ 0.25      $ 0.33      $ 0.34   

Diluted

   $ 0.25      $ 0.20      $ 0.03      $ 0.22      $ 0.25      $ 0.25      $ 0.32      $ 0.33   

 

(1) During the three months ended April 30, 2013, the Company implemented a restructuring plan to continue to integrate PDI in order to eliminate redundant positions and consolidate premises. This resulted in restructuring charges, net of recoveries of $2.9 million against operations during the three months ended April 30, 2013.