Earnings per Share (Tables)

9 Months Ended

Oct. 31, 2012

Earnings per Share [Abstract]

Reconciliation of basic and diluted weighted average shares for basic and diluted EPS and anti-dilutive securities

A reconciliation of basic and diluted weighted average shares for basic and diluted EPS, as well as anti-dilutive securities is as follows:

	Three Months Ended,
	October 31, 2012			October 31, 2011
Numerator for Basic and Diluted Earnings per Share:
Net earnings	$	2,399,637		$	295,766
Less: deemed dividends on Series A Preferred Stock		(139,133	)		—
Net earnings attributable to common Shareholders		2,260,504			295,766
Denominator for basic earnings per share weighted average shares		12,393,352			9,943,567
Effect of dilutive securities
Stock options		674,352			15,380
Restricted shares		36,962			—
Series A Preferred Stock		1,996,475			—
Warrants		264,097			—
Denominator for basic earnings per share, with assumed conversions		15,365,238			9,958,947
Basic net earnings per common share	$	0.18		$	0.03
Diluted net earnings per common share	$	0.15		$	0.03
Anti-dilutive securities:
Stock options, out-of-the-money		71,500			1,739,551
Warrants, out-of-the-money		—			—
	Nine Months Ended,
	October 31, 2012			October 31, 2011
Numerator for Basic and Diluted Earnings per Share:
Net earnings	$	2,427,995		$	8,051
Less: deemed dividends on Series A Preferred Stock		(139,133	)		—
Net earnings attributable to common Shareholders		2,288,862			8,051
Denominator for basic earnings per share weighted average shares		11,346,428			9,823,937
Effect of dilutive securities
Stock options		357,554			13,813
Restricted stock		42,925			—
Series A Preferred Stock		670,349			—
Warrants		—			—
Denominator for basic earnings per share, with assumed conversions		12,417,256			9,837,750
Basic net earnings per common share	$	0.20		$	0.00
Diluted net earnings per common share	$	0.18		$	0.00
Anti-dilutive securities:
Stock options, out-of-the-money		486,000			1,432,967
Warrants, out-of-the-money		1,400,000			—