v2.4.0.8

Note 5 - Net Income (Loss) Per Share

6 Months Ended

Jul. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

5.     Net Income (Loss) Per Share

The Company calculates basic income (loss) per share by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings (loss) per share reflects the effects of potentially dilutive securities. Since the Company incurred a net loss for the three and six months ended July 31, 2013, basic and diluted loss per share for those periods were the same because the inclusion of dilutive potential common shares related to outstanding stock awards in the calculation would have been antidilutive.

Potential common shares of 768,826 relating to outstanding stock awards to directors and employees have been excluded from diluted weighted average common shares for the six months ended July 31, 2013, as the effect would have been antidilutive. Additionally, for the three and six months ended July 31, 2013 the 1,704,546 outstanding warrants issued to Broadwood and the 6,000,000 potential shares issuable to Elkhorn upon debt conversion, would have been anti-dilutive.

The following table presents reconciliations of the numerators and denominators of the basic and diluted loss per share computations for net loss. In the tables below, “Net income (loss)” represents the numerator and “Shares” represents the denominator (in thousands, except per share amounts):

		Three Months Ended July 31,								Six Months Ended July 31,
		2014				2013				2014				2013
Net income (loss)		$	8,135			$	(794	)		$	6,817			$	(2,268	)
Basic net income (loss) per share:
Weighted-average shares outstanding-Basic			14,684				14,260				14,684				14,210
Basic net income (loss) per share		$	0.55			$	(0.06	)		$	0.46			$	(0.16	)
Diluted net inome (loss) per share:
Weighted average shares outstanding - basic			14,684				14,260				14,684				14,210
Effect of potentially dilutive securities			426				-				448				-
Weighted average shares outstanding - diluted			15,110				14,260				15,132				14,210
Diluted net income (loss) per share		$	0.54			$	(0.06	)		$	0.45			$	(0.16	)

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

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-Name Accounting Standards Codification

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-Publisher FASB

-Name Accounting Standards Codification

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-Name Accounting Standards Codification

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