Stock-based compensation

9 Months Ended

Oct. 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 October 31,				Nine Months Ended October 31,
	2015		2014		2015		2014
Stock-based compensation expense (benefit)		$87		$74		$50		($217	)
Restricted stock based compensation expense		$79		$142		$337		$122

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.



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



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	(62	)	10.11
Outstanding end of period	753		11.22		5.4	1

Exercisable end of period	567			$11.81	4.4		$—



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	(10	)	10.55
Outstanding end of period	186			$9.40		$—

As of October 31, 2015, there was $0.6 million of total unrecognized compensation expense related to unvested stock options. The expense is expected to be recognized over a period of 2.4 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	92		6.38
Issued	(48	)
Outstanding end of period	77			$8.60		$436

As of October 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 2.2 years.