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Share-Based Compensation (Tables)

12 Months Ended

Jan. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation Expense

Share-based compensation expense has been recognized as follows:

		Years Ended January 31
		2019				2018				2017
(In thousands)
Stock Options		$	783			$	437			$	321
Restricted Stock Awards and Restricted Stock Units			1,088				1,134				685
Employee Stock Purchase Plan			15				12				13
Total		$	1,886			$	1,583			$	1,019

Aggregated Information Regarding Stock Options Granted

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

		Number of Shares				Weighted- Average Exercise Price Per Share
Options Outstanding, January 31, 2016			657,936			$	11.00
Options Granted			122,000				14.82
Options Exercised			(87,107	)			8.73
Options Forfeited			(4,250	)			13.91
Options Cancelled			(3,123	)			8.95
Options Outstanding, January 31, 2017			685,456			$	11.96
Options Granted			187,189				13.57
Options Exercised			(84,025	)			10.08
Options Forfeited			(18,750	)			14.49
Options Cancelled			(24,600	)			11.76
Options Outstanding, January 31, 2018			745,270			$	12.52
Options Granted			196,000				18.21
Options Exercised			(150,125	)			10.62
Options Forfeited			(16,300	)			15.10
Options Cancelled			(3,700	)			8.95
Options Outstanding, January 31, 2019			771,145			$	14.30

Summary of Options Outstanding

Set forth below is a summary of options outstanding at January 31, 2019:

Outstanding														Exercisable
Range of Exercise prices		Number of Shares				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Life				Number of Shares				Weighted- Average Exercise Price				Weighted Average Remaining Contractual Life
$5.00-10.00			74,981			$	7.72				2.6				74,981			$	7.72				2.6
$10.01-15.00			453,164				13.65				6.8				313,347				13.66				6.3
$15.01-20.00			243,000				17.55				8.9				30,000				15.17				7.5
			771,145			$	14.30				7.0				418,328			$	12.70				5.7

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
		2019				2018				2017
Risk-Free Interest Rate			2.6	%			1.9	%			1.4	%
Expected Life (years)			9				9				5
Expected Volatility			39.4	%			39.0	%			28.3	%
Expected Dividend Yield			1.5	%			2.0	%			1.9	%

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, 2016			293,088			$	13.02
Granted			24,839				14.89
Vested			(75,133	)			12.05
Forfeited			(28,926	)			11.49
Outstanding at January 31, 2017			213,868			$	14.08
Granted			43,737				13.78
Vested			(71,171	)			14.12
Forfeited			(9,087	)			14.05
Outstanding at January 31, 2018			177,347			$	13.99
Granted			108,790				17.85
Vested			(67,447	)			14.26
Forfeited			(85,023	)			14.17
Outstanding at January 31, 2019			133,667			$	16.90

Summarized Plan Activity

Summarized plan activity is as follows:

		Years Ended January 31
		2019				2018				2017
Shares Reserved, Beginning			39,207				45,224				51,600
Shares Purchased			(5,354	)			(6,017	)			(6,376	)
Shares Reserved, Ending			33,853				39,207				45,224

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Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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