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NET INCOME PER SHARE FROM CONTINUING OPERATIONS
 12 Months Ended
Jan. 31, 2013
Earnings Per Share [Text Block]
7. NET INCOME PER SHARE FROM CONTINUING OPERATIONS

The Company reports net income per share in accordance with ASC 260, “Earnings per Share”. Basic net income per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the year. Diluted net income per share is computed by dividing net income available to common shareholders by the weighted average number of shares outstanding and dilutive common share equivalents during the year. Common share equivalents for each year include the number of shares issuable upon the exercise of outstanding options, less the shares that could be purchased under the treasury stock method. As there was a loss from continuing operations in fiscal year 2012, basic loss per share from continuing operations equals diluted loss per share from continuing operations. For fiscal year 2012, a total of 168,755 shares subject to outstanding options were not included in the common equivalent shares outstanding calculation as the effect from these shares is antidilutive. For fiscal years 2011 and 2010 all shares subject to outstanding options were dilutive.


The following table reconciles the basic and diluted net income per share from continuing operations computations for each year presented for fiscal years 2011 and 2010 (amounts in thousands, except per-share amounts):


    2011  
                   
    Income     Shares     Per Share  
Basic net income per share from continuing operations attributable to REX common shareholders   $ 26,629       9,117     $ 2.92  
Effect of stock options             70          
Diluted net income per share from continuing operations attributable to REX common shareholders   $ 26,629       9,187     $ 2.90  

    2010  
                   
    Income     Shares     Per Share  
Basic net income per share from continuing operations attributable to REX common shareholders   $ 18,614       9,651     $ 1.93  
Effect of stock options             174          
Diluted net income per share from continuing operations attributable to REX common shareholders   $ 18,614       9,825     $ 1.89