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Stockholders' Equity (Tables)
12 Months Ended
Jan. 31, 2013
Information Regarding All Stock Options

Information regarding all stock options for fiscal 2013, 2012 and 2011 is as follows:

 

    2013     2012     2011  
  Shares     Weighted
Average
Exercise
Price
    Shares     Weighted
Average
Exercise
Price
    Shares     Weighted
Average
Exercise
Price
 
           
           
           

Stock options outstanding at beginning of year

    417,722      $ 16.59        514,190      $ 14.54        817,050      $ 11.23   

Exercised

    (120,518   $ 11.82        (60,668   $ 10.21        (339,010   $ 8.23   

Granted

    85,000      $ 28.72        40,000      $ 27.13        38,000      $ 29.59   

Cancelled or forfeited

    (150   $ 18.40        (75,800   $ 13.35        (1,850   $ 18.40   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Stock options outstanding at end of year

    382,054      $ 20.79        417,722      $ 16.59        514,190      $ 14.54   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Exercisable

    224,121      $ 16.89        245,556      $ 14.18        260,990      $ 12.32   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Summary of Information about Stock Options Outstanding

The following table summarizes information about stock options outstanding:

 

Range of Exercise Prices

   Number
Outstanding  as of
January 31,
2013
     Weighted
Average
Remaining
Contractual Life
     Weighted
Average
Exercise
Price
     Number
Exercisable  as of
January 31,
2013
     Weighted
Average
Exercise
Price
 
              
              
              

$3.00 - $ 8.00

     22,100         1.09       $ 6.23         22,100       $ 6.23   

$8.01 - $ 12.00

     19,200         5.51       $ 10.28         12,000       $ 9.80   

$12.01 - $ 16.00

     68,900         5.12       $ 13.92         56,300       $ 13.78   

$16.01 - $ 40.00

     271,854         6.77       $ 24.46         133,721       $ 20.60   
  

 

 

          

 

 

    
     382,054               224,121      
  

 

 

          

 

 

    
Weighted Average Assumptions Used in Black-Scholes Option Pricing Model

The following table summarizes the weighted average assumptions used in the Black-Scholes option pricing model for grants in fiscal 2013, 2012 and 2011, respectively:

 

       

2013

    

2012

    

2011

Expected stock price volatility

     58.2% - 68.5%      68.5%      64.1%

Expected lives of options

              

Directors and officers

     7 years      7 years      7 years

Employees

     6 years      6 years      6 years

Risk-free interest rate

     0.3% - 0.6%      1.2%      2.3% - 3.4%

Expected dividend yield

     0%      0%      0%
Restricted Stock

Restricted Stock

 

     Awards
Outstanding
    Weighted Average
Grant Date Fair Value
 

Unvested as of January 31, 2011

     658,882      $ 13.86   

Granted

     437,850      $ 30.80   

Vested

     (162,332   $ 9.16   

Canceled

     (8,500   $ 24.03   
  

 

 

   

Unvested as of January 31, 2012

     925,900      $ 22.60   

Granted

     358,985      $ 35.18   

Vested

     (226,341   $ 12.54   

Canceled

     (1,813   $ 29.28   
  

 

 

   

Unvested as of January 31, 2013

     1,056,731      $ 29.01