XML 28 R28.htm IDEA: XBRL DOCUMENT v2.4.0.6
Stock-Based Compensation (Tables)
9 Months Ended
Oct. 31, 2012
Stock- Based Compensation [Abstract]  
Summary of activity under Option and Stock Plans

A summary of activity under the Option and Stock Plans for the nine months ended October 31, 2012 is presented below:

 

                                 

Options

  Shares     Weighted
Average
Exercise

Price/Share
    Weighted
Average
Remaining
Contract Term
(Years)
    Weighted
Average
Fair
Value/Share
 

Outstanding, January 31, 2012

    817,000     $ 12.10       4.94     $ 5.68  

Granted

    173,000     $ 16.32                  

Forfeited

    (30,000 )   $ 8.66                  

Exercised

    (121,000 )   $ 8.75                  
   

 

 

                         

Outstanding, October 31, 2012

    839,000     $ 13.58       5.08     $ 5.86  
   

 

 

                         

Exercisable, October 31, 2012

    546,000     $ 11.88       4.65     $ 6.05  
   

 

 

                         

Exercisable, January 31, 2012

    605,000     $ 11.47       4.89     $ 5.89  
   

 

 

                         
Summary of change in number of non-vested options to purchase shares of common stock

A summary of the change in the number of nonvested options to purchase shares of common stock for the nine months ended October 31, 2012 is presented below:

 

                 
    Shares     Weighted
Average
Fair
Value/Share
 

Nonvested, January 31, 2012

    212,000     $ 5.09  

Granted

    173,000     $ 5.29  

Forfeited

    (5,000   $ 6.32  

Vested

    (87,000   $ 3.99  
   

 

 

         

Nonvested, October 31, 2012

    293,000     $ 5.51  
   

 

 

         
Summary of assumptions used to estimate fair value of stock options granted

The fair value of each stock option granted in the nine-month period ended October 31, 2012 was estimated on the date of award using the Black-Scholes option-pricing model based on the following weighted average assumptions.

 

         
    Nine Months
Ended October 31,
2012
 

Dividend yield

    —    

Expected volatility

    36.21

Risk-free interest rate

    2.00

Expected life in years

    4.35