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Income Taxes (Tables)

12 Months Ended

Jan. 31, 2017

Income Tax Disclosure [Abstract]

Components of Income before Income Taxes

The components of income before income taxes are as follows:

		January 31
		2017				2016				2015
(In thousands)
Domestic		$	4,026			$	5,982			$	5,401
Foreign			2,579				927				1,531
		$	6,605			$	6,909			$	6,932

Components of Provision for Income Taxes

The components of the provision for income taxes are as follows:

		January 31
		2017				2016				2015
(In thousands)
Current:
Federal		$	1,269			$	1,930			$	1,666
State			209				470				466
Foreign			725				276				535
			2,203				2,676				2,667
Deferred:
Federal		$	150			$	(402	)		$	(290	)
State			37				126				(107	)
Foreign			(13	)			(16	)			—
			174				(292	)			(397	)
		$	2,377			$	2,384			$	2,270

Components of Difference Between Provision for Income Taxes and Amount Computed by Applying Statutory Federal Income Tax Rate

The provision for income taxes differs from the amount computed by applying the United States federal statutory income tax rate of 34% to income before income taxes. The reasons for this difference were due to the following:

		January 31
		2017				2016				2015
(In thousands)
Income Tax Provision at Statutory Rate		$	2,246			$	2,349			$	2,357
Capitalized Transaction Costs			179				—				—
Unrecognized Tax Benefits			165				(67	)			23
State Taxes, Net of Federal Tax Effect			162				277				233
Domestic Production Deduction			(103	)			(134	)			(164	)
R&D Credits			(168	)			(176	)			(135	)
Other			(104	)			135				(44	)
		$	2,377			$	2,384			$	2,270

Tax Effects of Temporary Differences that gave Rise to Significant Portions of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and liabilities are as follows:

		January 31
		2017				2016
(In thousands)
Deferred Tax Assets:
Inventory		$	2,151			$	1,948
State R&D Credits			679				583
Share-Based Compensation			546				830
Foreign Tax Credit			508				426
Compensation Accrual			281				346
Unrecognized State Tax Benefits			241				237
Warranty Reserve			192				149
Deferred Service Contract Revenue			176				200
Other			348				383
			5,122				5,102
Deferred Tax Liabilities:
Accumulated Tax Depreciation in Excess of Book Depreciation			1,380				1,355
Other			263				193
			1,643				1,548
Subtotal			3,479				3,554
Valuation Allowance			(679	)			(583	)
Net Deferred Tax Assets		$	2,800			$	2,971

Changes in Balance of Unrecognized Tax Benefits, Excluding Interest and Penalties

expiration of certain statutes of limitation. The changes in the balances of unrecognized tax benefits, excluding interest and penalties are as follows:

		2017				2016				2015
(In thousands)
Balance at February 1		$	591			$	707			$	715

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the change in unrecognized tax benefits.

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