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Note 16 - Stock-based Compensation Plans | 12 Months Ended
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Jan. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 16 - Stock-Based Compensation Plans Total estimated stock-based compensation expense recognized in our consolidated statement of operations was as follows:
Year Ended |  | January 31, 2016 |  |  | January 31, 2015 |  |  | January 31, 2014 |
Cost of revenues |  |  | 24 |  |  |  | 45 |  |  |  | 54 |
Sales and marketing |  |  | 41 |  |  |  | 70 |  |  |  | 538 |
Research and development |  |  | - |  |  |  | 2 |  |  |  | 12 |
General and administrative |  |  | 1,512 |  |  |  | 1,426 |  |  |  | 1,138 |
Other charges |  |  | - |  |  |  | - |  |  |  | 781 |
Effect on net income |  |  | 1,577 |  |  |  | 1,543 |  |  |  | 2,523 |
For the year ended January 31, 2014 other charges includes stock-based compensation expense of $0.3 million related to a modification of certain PSU grants. Differences between how GAAP and applicable income tax laws treat the amount and timing of recognition of stock-based compensation expense may result in a deferred tax asset. We have recorded a valuation allowance against any such deferred tax asset except for $0.1 million ($0.1 million at January 31, 2015) recognized in the United States. The tax benefit realized in connection with stock options exercised and settled during 2016, 2015 and 2014 was $1.6 million, $0.1 million and $0.4 million, respectively. Stock Options As of January 31, 2016, we had 293,889 stock options granted and outstanding under our shareholder-approved stock option plan and 217,264 remained available for grant. In addition, we had 175,000 stock options outstanding pursuant to option grants made outside of our shareholder-approved stock option plan as permitted under the rules of the Toronto Stock Exchange in certain circumstances. For the year ended January 31, 2016, the Company settled 446,875 options for $4.4 million of common shares issued from treasury and $2.6 million in cash related to payment of applicable employee withholding taxes. For the year ended January 31, 2015, the Company settled 175,000 options for $0.4 million in cash related to payment of applicable employee withholding taxes and $0.3 million of common shares issued from treasury. For the year ended January 31, 2014, 300,000 options were settled for $1.4 million in cash including payment of applicable employee withholding taxes and $0.1 million of common shares were issued from treasury. As of January 31, 2016, $0.4 million of total unrecognized compensation costs, net of forfeitures, related to non-vested stock option awards is expected to be recognized over a weighted average period of 1.6 years. The total fair value of stock options vested during 2016 was $0.3 million. The total number of options granted during 2016, 2015 and 2014 was nil, 215,000 and nil, respectively. The weighted average grant-date fair value of options granted during 2016, 2015 and 2014 was nil, $3.47 and nil per option, respectively. The weighted-average assumptions were as follows:
Year Ended |  | January 31, 2015 |
Expected dividend yield (%) |  |  | - |
Expected volatility (%) |  |  | 25.4 |
Risk-free rate (%) |  |  | 1.5 |
Expected option life (years) |  |  | 5 |
A summary of option activity under all of our plans is presented as follows:
|  | Number of Stock Options Outstanding |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Life (years) |  |  | Aggregate Intrinsic Value (in millions) |
Balance at January 31, 2014 |  |  | 1,139,853 |  |  | $ | 4.39 |  |  |  |  |  |  |  |  |
Granted |  |  | 215,000 |  |  | $ | 13.77 |  |  |  |  |  |  |  |  |
Exercised |  |  | (220,138 | ) |  | $ | 3.49 |  |  |  |  |  |  |  |  |
Surrendered for Shares |  |  | (175,000 | ) |  | $ | 4.53 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (6,451 | ) |  | $ | 5.72 |  |  |  |  |  |  |  |  |
Balance at January 31, 2015 |  |  | 953,264 |  |  | $ | 6.33 |  |  |  | 2.5 |  |  |  | 10.6 |
Exercised |  |  | (37,500 | ) |  | $ | 4.18 |  |  |  |  |  |  |  |  |
Surrendered for Shares |  |  | (446,875 | ) |  | $ | 2.59 |  |  |  |  |  |  |  |  |
Balance at January 31, 2016 |  |  | 468,889 |  |  | $ | 8.25 |  |  |  | 3.5 |  |  |  | 5.2 |
Vested or expected to vest at January 31, 2016 |  |  | 450,589 |  |  | $ | 8.18 |  |  |  | 3.5 |  |  |  | 5.0 |
Exercisable at January 31, 2016 |  |  | 292,811 |  |  | $ | 6.54 |  |  |  | 2.6 |  |  |  | 3.7 |
The total intrinsic value of options exercised during 2016, 2015 and 2014 was approximately $0.5 million, $2.4 million and $9.4 million, respectively. The total intrinsic value of options surrendered for shares during 2016, 2015 and 2014 was approximately $6.7 million, $1.6 million and $1.5 million, respectively. Options outstanding and options exercisable as at January 31, 2016 by range of exercise price are as follows:
|  | Options Outstanding |  |  | Options Exercisable |
Range of Exercise Prices |  | Weighted Average Exercise Price |  |  | Number of Stock Options |  |  | Weighted Average Remaining Contractual Life (years) |  |  | Weighted Average Exercise Price |  |  | Number of Stock Options |
$4.88 | – | $5.54 |  | $ | 4.91 |  |  |  | 215,889 |  |  |  | 1.8 |  |  | $ | 4.91 |  |  |  | 208,311 |
$6.91 | – | $6.91 |  | $ | 6.91 |  |  |  | 38,000 |  |  |  | 3.5 |  |  | $ | 6.91 |  |  |  | 22,000 |
$11.69 | – | $11.85 |  | $ | 11.84 |  |  |  | 215,000 |  |  |  | 5.4 |  |  | $ | 11.84 |  |  |  | 62,500 |
|  | $ | 8.25 |  |  |  | 468,889 |  |  |  | 3.5 |  |  | $ | 6.54 |  |  |  | 292,811 |
A summary of the status of our unvested stock options under our shareholder-approved stock option plan as of January 31, 2016 is presented as follows:
|  | Number of Stock Options Outstanding |  |  | Weighted- Average Grant-Date Fair Value per Share |
Balance at January 31, 2014 |  |  | 164,145 |  |  | $ | 2.21 |
Granted |  |  | 40,000 |  |  | $ | 3.43 |
Vested |  |  | (73,840 | ) |  | $ | 1.97 |
Forfeited |  |  | (6,451 | ) |  | $ | 1.96 |
Balance at January 31, 2015 |  |  | 123,854 |  |  | $ | 2.56 |
Vested |  |  | (70,276 | ) |  | $ | 1.92 |
Balance at January 31, 2016 |  |  | 53,578 |  |  | $ | 2.52 |
Performance Share Units A summary of PSU activity is as follows:
|  | Number of PSUs Outstanding |  |  | Weighted- Average Granted Date Fair Value |  |  | Weighted- Average Remaining Contractual Life (years) |  |  | Aggregate Intrinsic Value (in millions) |
Balance at January 31, 2014 |  |  | 211,428 |  |  | $ | 11.69 |  |  |  |  |  |  |  |  |
Granted |  |  | 51,752 |  |  | $ | 16.67 |  |  |  |  |  |  |  |  |
Exercised |  |  | (83,984 | ) |  | $ | 10.88 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (4,938 | ) |  | $ | 10.93 |  |  |  |  |  |  |  |  |
Balance at January 31, 2015 |  |  | 174,258 |  |  | $ | 12.61 |  |  |  | 7.9 |  |  |  | 3.0 |
Granted |  |  | 49,187 |  |  | $ | 19.70 |  |  |  |  |  |  |  |  |
Performance units issued |  |  | 30,092 |  |  | $ | 9.34 |  |  |  |  |  |  |  |  |
Balance at January 31, 2016 |  |  | 253,537 |  |  | $ | 12.39 |  |  |  | 7.2 |  |  |  | 4.9 |
Vested or expected to vest at January 31, 2016 |  |  | 253,537 |  |  | $ | 12.39 |  |  |  | 7.2 |  |  |  | 4.9 |
Exercisable at January 31, 2016 |  |  | 152,598 |  |  | $ | 9.36 |  |  |  | 6.3 |  |  |  | 2.9 |
The aggregate intrinsic values represents the total pre-tax intrinsic value (the aggregate closing share price of our common shares on January 31, 2016) that would have been received by PSU holders if all PSUs had been vested on January 31, 2016. As of January 31, 2016, $0.9 million of total unrecognized compensation costs related to non-vested awards is expected to be recognized over a weighted average period of 1.5 years. The total fair value of PSUs vested during 2016 was $0.8 million. Restricted Share Units A summary of RSU activity is as follows:
|  | Number of RSUs Outstanding |  |  | Weighted- Average Granted Date Fair Value |  |  | Weighted- Average Remaining Contractual Life (years) |  |  | Aggregate Intrinsic Value (in millions) |
Balance at January 31, 2014 |  |  | 214,076 |  |  | $ | 8.96 |  |  |  |  |  |  |  |  |
Granted |  |  | 51,752 |  |  | $ | 13.79 |  |  |  |  |  |  |  |  |
Exercised |  |  | (85,298 | ) |  | $ | 8.36 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (4,938 | ) |  | $ | 8.59 |  |  |  |  |  |  |  |  |
Balance at January 31, 2015 |  |  | 175,592 |  |  | $ | 9.94 |  |  |  | 7.9 |  |  |  | 3.1 |
Granted |  |  | 49,187 |  |  | $ | 15.33 |  |  |  |  |  |  |  |  |
Balance at January 31, 2016 |  |  | 224,779 |  |  | $ | 10.03 |  |  |  | 7.4 |  |  |  | 4.3 |
Vested or expected to vest at January 31, 2016 |  |  | 224,779 |  |  | $ | 10.03 |  |  |  | 7.4 |  |  |  | 4.3 |
Exercisable at January 31, 2016 |  |  | 174,737 |  |  | $ | 8.86 |  |  |  | 7.0 |  |  |  | 3.4 |
The aggregate intrinsic values represents the total pre-tax intrinsic value (the aggregate closing share price of our common shares on January 31, 2016) that would have been received by RSU holders if all RSUs had been vested on January 31, 2016. As of January 31, 2016, $0.7 million of total unrecognized compensation costs related to non-vested awards is expected to be recognized over a weighted average period of 1.7 years. The total fair value of RSUs vested during 2016 was $0.6 million. Deferred Share Unit Plan As at January 31, 2016, the total number of DSUs held by participating directors was 188,766 (209,727 at January 31, 2015), representing an aggregate accrued liability of $3.3 million ($3.2 million at January 31, 2015). During 2016, 61,020 DSUs were granted and 81,981 were settled for cash. As at January 31, 2016, the unrecognized aggregate liability for the unvested DSUs was nil (nil at January 31, 2015). The fair value of the DSU liability is based on the closing price of our common shares at the balance sheet date. The total compensation cost related to DSUs recognized in our consolidated statements of operations was approximately $1.9 million, $1.5 million and $1.1 million for 2016, 2015 and 2014, respectively. Cash-Settled Restricted Share Unit Plan A summary of activity under our CRSU plan is as follows:
|  | Number of CRSUs Outstanding |  |  | Weighted- Average Remaining Contractual Life (years) |
Balance at January 31, 2014 |  |  | 152,794 |  |  |  |  |
Granted |  |  | 68,439 |  |  |  |  |
Vested and settled in cash |  |  | (106,910 | ) |  |  |  |
Forfeited |  |  | (467 | ) |  |  |  |
Balance at January 31, 2015 |  |  | 113,856 |  |  |  | 1.5 |
Granted |  |  | 72,817 |  |  |  |  |
Vested and settled in cash |  |  | (85,924 | ) |  |  |  |
Balance at January 31, 2016 |  |  | 100,749 |  |  |  | 1.6 |
Non-vested at January 31, 2016 |  |  | 100,749 |  |  |  | 1.6 |
We have recognized the compensation cost of the CRSUs ratably over the service/vesting period relating to the grant and have recorded an aggregate accrued liability of $0.8 million at January 31, 2016 ($1.0 million at January 31, 2015). As at January 31, 2016, the unrecognized aggregate liability for the unvested CRSUs was $1.0 million ($0.7 million at January 31, 2015). The fair value of the CRSU liability is based on the closing price of our common shares at the balance sheet date. The total compensation cost related to CRSUs recognized in our consolidated statements of operations was approximately $0.7 million, $0.6 million and $1.2 million for 2016, 2015 and 2014, respectively.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51659978&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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