Stock-Based Compensation (Tables)

3 Months Ended

Apr. 30, 2014

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Activity under Company's Stock Option Plans

A summary of activity under the Company’s stock option plans for the three months ended April 30, 2014 is presented below:


Options	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contract Term (Years)		Weighted Average Fair Value
Outstanding, January 31, 2014		916,150		$	17.36		6.04	$	5.58
Granted		180,500		$	27.09
Exercised		(83,500	)	$	13.50

Outstanding, April 30, 2014		1,013,150		$	19.41		6.76	$	5.65

Exercisable, April 30, 2014		600,650		$	15.75		5.98	$	5.81

Exercisable, January 31, 2014		613,150		$	15.40		5.09	$	6.15

Summary of Change in Number of Non-Vested Options to Purchase Shares of Common Stock

A summary of the change in the number of non-vested options to purchase shares of common stock for the three months ended April 30, 2014 is presented below:


	Shares			Weighted Average Fair Value
Nonvested, January 31, 2014		303,000		$	4.40
Granted		180,500		$	6.28
Vested		(71,000	)	$	3.27

Nonvested, April 30, 2014		412,500		$	5.42

Summary of Assumptions Used to Estimate Fair Value of Stock Options Granted

The fair value of each stock option granted in the three-month period ended April 30, 2014 was estimated on the corresponding date of award using the Black-Scholes option-pricing model based on the following weighted average assumptions.


	Three Months Ended April 30, 2014
Dividend yield		2.77	%
Expected volatility		33.83	%
Risk-free interest rate		1.26	%
Expected life in years		4.81