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Earnings Per Share
6 Months Ended
Jul. 31, 2018
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 8 – EARNINGS PER SHARE

The Company presents net income per share on a basic and diluted basis. Basic earnings per share are computed using weighted-average shares outstanding during the period. Diluted earnings per share are computed using the weighted-average number of shares outstanding adjusted for dilutive common stock equivalents.

The weighted-average number of shares outstanding for basic earnings per share was approximately 23,245,000 and 23,085,000 for the three months ended July 31, 2018 and 2017, respectively. For the three months ended July 31, 2018 and 2017, the number of shares outstanding for diluted earnings per share increased by approximately 467,000 and 133,000, respectively, due to potentially dilutive common stock equivalents issuable under the Company’s stock compensation plans and SERP.

For the three months ended July 31, 2018 and 2017, approximately nil and 810,000, respectively, of potentially dilutive common stock equivalents were excluded from the computation of diluted earnings per share because their effect would have been antidilutive.

The weighted-average number of shares outstanding for basic earnings per share was approximately 23,172,000 and 23,080,000 for the six months ended July 31, 2018 and 2017, respectively. For the six months ended July 31, 2018 and 2017, the number of shares outstanding for diluted earnings per share increased by approximately 413,000 and 173,000, respectively, due to potentially dilutive common stock equivalents issuable under the Company’s stock compensation plans and SERP.

For the six months ended July 31, 2018 and 2017, approximately 92,000 and 807,000, respectively, of potentially dilutive common stock equivalents were excluded from the computation of diluted earnings per share because their effect would have been antidilutive.