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Share-Based Compensation (Tables)
12 Months Ended
Jan. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Aggregated Information Regarding Stock Options Granted

Aggregated information regarding stock options granted under the Plan is summarized below:

 

     Number
of Shares
    Option Price
Per Share
     Weighted Average
Option Price Per
Share
 

Options Outstanding, January 31, 2014

     736,647      $ 5.78-11.90       $ 8.63   

Options Granted

     158,600      $ 13.46-14.20       $ 13.99   

Options Exercised

     (224,275   $ 6.22-11.90       $ 8.29   

Options Expired

     (14,961   $ 7.95-14.20       $ 9.49   
  

 

 

   

 

 

    

 

 

 

Options Outstanding, January 31, 2015

     656,011      $ 5.78-14.20       $ 10.01   
  

 

 

   

 

 

    

 

 

 

Options Exercisable, January 31, 2015

     413,612      $ 5.78-13.46       $ 8.78   
Summary of Options Outstanding

Set forth below is a summary of options outstanding at January 31, 2015:

 

Outstanding

     Exercisable  

Range of

Exercise prices

   Options      Weighted Average
Exercise Price
     Remaining
Contractual Life
     Options      Weighted Average
Exercise Price
 

$5.78-8.73

     314,365       $ 7.64         5.1         254,516       $ 7.54   

$8.95-13.46

     190,046       $ 10.79         4.3         159,096       $ 10.76   

$13.80-14.20

     151,600       $ 14.00         9.2         —         $ —     
  

 

 

          

 

 

    
     656,011               413,612      
  

 

 

          

 

 

    
Fair Value of Stock Options Granted

The fair value of each stock option granted was estimated on the grant date using the Black-Scholes option-pricing model with the following weighted average assumptions:

 

     Years Ended January 31
     2015    2014

Risk-Free Interest Rate

   1.5%-1.62%    0.81%-0.84%

Expected Life (years)

   5    5

Expected Volatility

   21.47%-26.75%    38.07%-38.46%

Expected Dividend Yield

   1.98%    2.63%
Aggregated Information Regarding RSUs and RSAs Granted

Aggregated information regarding RSUs and RSAs granted under the Plan is summarized below:

 

     RSAs & RSUs      Weighted Average
Grant Date Fair Value
 

Outstanding at January 31, 2014

     106,496       $ 9.12   

Granted

     7,245         13.80   

Vested

     (35,662      8.75   

Expired or canceled

     (5,834      10.07   
  

 

 

    

 

 

 

Outstanding at January 31, 2015

     72,245       $ 9.70   
  

 

 

    

 

 

 
Share-Based Compensation Expense

Share-based compensation expense has been recognized as follows:

 

     Years Ended January 31,  
             2015                      2014          
(In thousands)              

Stock Options

   $ 241       $ 192   

Restricted Stock Awards and Restricted Stock Units

     270         370   
  

 

 

    

 

 

 

Total

   $ 511       $ 562   
  

 

 

    

 

 

 
Summarized Plan Activity

Summarized plan activity is as follows:

 

     Years Ended January 31  
             2015                      2014          

Shares Reserved, Beginning

     60,242         64,231   

Shares Purchased

     (3,237      (3,989
  

 

 

    

 

 

 

Shares Reserved, Ending

     57,005         60,242