Net Income per Common Share

9 Months Ended

Oct. 31, 2011

Note 3 — Net Income per Common Share

Basic net income per common share has been computed using the weighted average number of common shares outstanding during each period. Diluted net income per share is computed using the weighted average number of common shares and potential dilutive common shares, consisting of stock options, stock purchase warrants and unvested restricted stock awards outstanding during the period. For the three and nine months ended October 31, 2011, approximately 327,400 and 405,300 shares, respectively, have been excluded from the diluted per share calculation as their inclusion would have been anti-dilutive. For the three and nine months ended October 31, 2010, there were no anti-dilutive shares excluded from the diluted per share calculation. For the nine months ended October 31, 2011 and 2010, 203,790 and 473,368 shares of common stock, respectively, were issued in connection with the exercise or vesting of equity awards.

A reconciliation between basic and diluted net income per share is as follows:


	Three Months Ended				Nine Months Ended
	October 31,				October 31,
	2011		2010		2011		2010
	(In thousands, except per share amounts)
Net income	$	43,555	$	42,722	$	44,600	$	44,350

Basic net income per share:
Basic common shares		19,845		19,227		19,804		19,087


Basic net income per share	$	2.19	$	2.22	$	2.25	$	2.32


	Three Months Ended				Nine Months Ended
	October 31,				October 31,
	2011		2010		2011		2010
	(In thousands, except per share amounts)
Diluted net income per share:
Basic common shares		19,845		19,227		19,804		19,087
Stock options, warrants and restricted stock awards		327		537		405		519


Diluted common shares		20,172		19,764		20,209		19,606


Diluted net income per share	$	2.16	$	2.16	$	2.21	$	2.26

- Definition

The entire disclosure for earnings per share.

+ References+ Details