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Earnings Per Share
 3 Months Ended
Apr. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
5. Earnings Per Share

Basic earnings per share are based on the weighted average number of common shares outstanding without consideration of common stock equivalents. Diluted earnings per share are based on the weighted average number of common and common stock equivalents. The diluted earnings per share calculation take into account the shares that may be issued upon exercise of stock options, reduced by the shares that may be repurchased with the funds received from their exercise, based on the average price during the period.

 

The following table sets forth the computation of basic and diluted earnings (loss) per share at April 30, 2013 and 2012.

 

    Three Months Ended  
    April 30,  
    2013     2012  
Numerator                
Net loss from continuing operations   $ (844,480 )   $ (10,121,466 )
Denominator                
Denominator for basic earnings per share                
(weighted-average shares which reflect 356,441 shares in the treasury as a result of the stock repurchase program for the three months ended April 30, 2013 and 2012, respectively)     5,337,205       5,225,478  
Effect of dilutive securities from restricted stock plan and from dilutive effect of stock options     —       —  
Denominator for diluted loss per share (adjusted weighted average shares)     5,337,205       5,225,478  
Basic loss per share from continuing operations   $ (0.16 )   $ (1.94 )
Diluted loss per share from continuing operations   $ (0.16 )   $ (1.94 )