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Net Income per Common Share
 6 Months Ended
Jul. 31, 2012
Net Income per Common Share [Abstract]  
Net Income per Common Share

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 and unvested restricted stock awards outstanding during the period. For both the three and six months ended July 31, 2012, approximately 78,000 shares of common stock have been excluded from the diluted per share calculation as their inclusion would have been anti-dilutive. For the three and six months ended July 31, 2011, there were no anti-dilutive shares excluded from the diluted per share calculation. For the six months ended July 31, 2012 and 2011, 245,297 and 199,240 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
July 31,		     Six Months Ended
July 31,		  
    2012     2011     2012     2011  
    (In thousands, except per share amounts)  

Net income

   $ 1,362     $ 1,565     $ 514     $ 1,045  

Basic net income per share:

                                

Basic common shares

     19,995       19,848       19,928       19,784  
   

 

 

    

 

 

    

 

 

    

 

 

  

Basic net income per share

   $ 0.07     $ 0.08     $ 0.03     $ 0.05  
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted net income per share:

                                

Basic common shares

     19,995       19,848       19,928       19,784  

Stock options and restricted stock awards

     336       405       406       437  
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted common shares

     20,331       20,253       20,334       20,221  
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted net income per share

   $ 0.07     $ 0.08     $ 0.03     $ 0.05