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LEASES
 12 Months Ended
Jan. 31, 2012
Leases of Lessor Disclosure [Text Block]

 

 

8.

LEASES

 

 

 

At January 31, 2012, the Company has lease agreements, as landlord, for six owned properties. All of the leases are accounted for as operating leases. The Company recognized lease revenue of approximately $1,317,000, $1,018,000 and $602,000 in fiscal years 2011, 2010 and 2009, respectively.

 

 

 

As of January 31, 2012, future minimum annual rentals on such leases are as follows (amounts in thousands):


 

 

 

 

 

Years Ended
January 31

 

Minimum
Rentals

 

 

 

 

 

 

 

 

2013

 

$

1,199

 

2014

 

 

1,252

 

2015

 

 

1,060

 

2016

 

 

502

 

2017

 

 

437

 

Thereafter

 

 

1,452

 

 

 

 

 

 

$

5,902