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Share-Based Compensation (Tables)
3 Months Ended
Apr. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-Based Compensation Expense

Share-based compensation expense was recognized as follows:

 

     Three Months Ended  
     April 30,
2016
     May 2,
2015
 
(In thousands)              

Stock Options

   $ 81       $ 73   

Restricted Stock Awards and Restricted Stock Units

     230         68   

Employee Stock Purchase Plan

     3         2   
  

 

 

    

 

 

 

Total

   $ 314       $ 143   
  

 

 

    

 

 

 
Fair Value of Stock Options Granted

The fair value of stock options granted during the three months ended April 30, 2016 and May 2, 2015 was estimated using the following weighted average assumptions:

 

     Three Months Ended  
     April 30,
2016
    May 2,
2015
 

Risk Free Interest Rate

     1.5     1.6

Expected Volatility

     24.6     22.7

Expected Life (in years)

     5.0        5.0   

Dividend Yield

     1.9     2.0
Aggregated Information Regarding Stock Options Granted

Aggregated information regarding stock options granted under the plans for the three months ended April 30, 2016 is summarized below:

 

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

Outstanding at January 31, 2016

     657,936       $ 11.00         6.1       $ 3,083,000   

Granted

     50,000         15.01         

Exercised

     (12,801      9.14         

Forfeited

     (225      14.20         

Canceled

     (2,273      8.14         
  

 

 

    

 

 

       

Outstanding at April 30, 2016

     692,637       $ 11.33         6.3       $ 2,120,393   
  

 

 

    

 

 

    

 

 

    

 

 

 

Exercisable at April 30, 2016

     450,812       $ 10.04         5.0       $ 1,942,012   
Aggregated Information Regarding RSUs and RSAs Granted

Aggregated information regarding RSUs and RSAs granted under the Plan for the three months ended April 30, 2016 is summarized below:

 

     RSAs & RSUs      Weighted Average
Grant Date Fair Value
 

Unvested at January 31, 2016

     293,088       $ 13.28   

Granted

     4,597         15.06   

Vested

     (34,180 )      11.90  

Forfeited

     (18,600      10.07   
  

 

 

    

 

 

 

Unvested at April 30, 2016

     244,905       $ 13.75