XML 31 R18.htm IDEA: XBRL DOCUMENT v3.23.1

Note 11 - Treasury Stock

12 Months Ended

Jan. 31, 2023

Notes to Financial Statements

Treasury Stock [Text Block]

Note 11 - Treasury stock

On December 7, 2022 the Board of Directors authorized the use of $1.0 million remaining under the share repurchase program previously approved on October 4, 2021 that expired on October 3, 2022. Share repurchases may be executed through open market or in privately negotiated transactions over the course of the 12 months following the Board of Directors authorization. The repurchase program approved on October 4, 2021 authorized the Company to use up to $3.0 million for the purchase of its outstanding shares of common stock. Stock repurchases were permitted to be executed through open market or privately negotiated transactions, depending upon current market conditions and other factors. In total, the Company used $2.0 million of the $3.0 million authorized to repurchase its outstanding shares of common stock under the program. 

On July 26, 2022, the Company retired 239,168 shares of treasury stock previously repurchased under the stock repurchase program. The retirement was recorded as a reduction to common stock based on the par value of the shares, and the excess over par value was recorded as a decrease to retained earnings in accordance with ASC 505-30, Equity - Treasury Stock.

The following table sets forth information with respect to repurchases by the Company of its shares of common stock during 2021 and 2022 (In thousands, except per share data):  

Period		Total number of shares purchased				Average price paid per share				Total number of shares purchased as part of publicly announced plans or programs				Approximate dollar value of shares that may yet be purchased under the plans or programs
October 1, 2021 - October 31, 2021			59			$	8.45				59			$	2,505
November 1, 2021 - November 30, 2021			21				8.55				21				2,323
December 1, 2021 - December 31, 2021			56				7.99				56				1,872
January 1, 2022 - January 31, 2022			98				8.81				98				1,008
July 1, 2022 - July 31, 2022			5				8.85				5				964
December 1, 2022 - December 31, 2022			3				8.61				3				939
Total			242								242

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureTextBlockAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-URI https://asc.fasb.org/subtopic&trid=2208821

+ Details

Name:	us-gaap_TreasuryStockTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration