Stock-based compensation

6 Months Ended

Jul. 31, 2015

Stock-based compensation. The Company has stock-based compensation awards that can be granted to eligible employees, officers or directors.



	Three Months Ended July 31,					Six Months Ended July 31,
	2015			2014		2015			2014
Stock-based compensation expense (benefit)		($96	)		$90		($37	)		($291	)
Restricted stock based compensation expense (benefit)		$169			$176		$258			$106

Stock-based compensation for 2014 was a benefit year-to-date due to cancellations. Most of these cancellations related to former employees from the discontinued operations.

Stock Options

The fair value of the outstanding option awards was estimated on the grant dates using the Black-Scholes option pricing model.



	Six Months Ended July 31,
Fair value assumptions	2015	2014
Risk free interest rate	.74% - 1.77%	.74% - 2.19%
Expected volatility	40.88% - 59.39%	40.88% - 60.26%
Expected life	4.9 - 5.1 years	4.9 - 5.1 years
Dividend yield	none	none



Option activity	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 31, 2015	764			$11.45	5.7		$—
Granted	51		6.38
Expired or forfeited	(59	)	10.08
Outstanding end of period	756		11.22		5.7	1

Exercisable end of period	566			$11.81	4.7		$—



Unvested option activity	Options		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at January 31, 2015	232			$10.11		$—
Granted	51		6.38
Vested	(87	)
Expired or forfeited	(7	)	10.24
Outstanding end of period	189			$9.44		$—

As of July 31, 2015, there was $0.7 million of total unrecognized compensation expense related to unvested stock options. The expense is expected to be recognized over a period of 2.6 years.

Restricted stock

The following table summarizes restricted stock activity for the year:



Restricted stock activity	Restricted Shares	Weighted Average Grant Price Per Share		Aggregate Intrinsic Value
Outstanding at January 31, 2015	33		$11.53		$186
Granted	44
Outstanding end of period	77		$8.6		$458

As of July 31, 2015, there was $0.6 million of unrecognized compensation expense related to unvested restricted stock granted under the plans. The cost is expected to be recognized over the weighted-average period of 2.5 years.