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Share-Based Compensation (Tables)
9 Months Ended
Oct. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-Based Compensation Expense

Share-based compensation expense was recognized as follows:

 

     Three Months Ended      Nine Months Ended  
     October 31,
2015
     November 1,
2014
     October 31,
2015
     November 1,
2014
 
(In thousands)                            

Stock Options

   $ 69       $ 62       $ 212       $ 174   

Restricted Stock Awards and Restricted Stock Units

     318         58         614         202   

Employee Stock Purchase Plan

     4         2         8         5   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 391       $ 122       $ 834       $ 381   
  

 

 

    

 

 

    

 

 

    

 

 

 

Fair Value of Stock Options Granted

The fair value of stock options granted during the nine months ended October 31, 2015 and November 1, 2014 was estimated using the following assumptions:

 

     October 31,
2015
   November 1,
2014

Risk Free Interest Rate

       1.6%           1.6%   

Expected Volatility

       22.7%           26.8%   

Expected Life (in years)

       5.0              5.0      

Dividend Yield

       2.0%           2.0%   

Aggregated Information Regarding Stock Options Granted

Aggregated information regarding stock options granted under the Plans for the nine months ended October 31, 2015 is summarized below:

 

     Number of Options     Weighted Average
Exercise Price
     Weighted Average
Remaining
Contractual Life
(in Years)
     Aggregate Intrinsic
Value
 

Outstanding at January 31, 2015

     656,011      $ 10.01         4.2       $ 3,225,000   

Granted

     110,000      $ 13.98         

Exercised

     (30,482   $ 7.95         

Expired or canceled

     (2,093   $ 7.93         

Forfeited

     (700   $ 12.61         
  

 

 

         

Outstanding at October 31, 2015

     732,736      $ 10.70         5.9       $ 2,176,189   
  

 

 

   

 

 

    

 

 

    

 

 

 

Exercisable at October 31, 2015

     480,023      $ 9.42         4.5       $ 1,980,934   
  

 

 

   

 

 

    

 

 

    

 

 

 

Aggregated Information Regarding RSUs and RSAs Granted

Aggregated information regarding RSUs and RSAs granted under the Plan for the nine months ended October 31, 2015 is summarized below:

 

     RSAs & RSUs     Weighted Average
Grant Date Fair Value
 

Unvested at January 31, 2015

     72,245      $ 9.70   

Granted

     244,824      $ 14.05   

Vested

     (21,917   $ 10.51   

Forfeited

     (2,800   $ 10.07   
  

 

 

   

Unvested at October 31, 2015

     292,352      $ 13.28