COMPUTATION OF NET INCOME (LOSS) PER SHARE

6 Months Ended

Jul. 31, 2011

COMPUTATION OF NET INCOME (LOSS) PER SHARE [Abstract]

COMPUTATION OF NET INCOME (LOSS) PER SHARE

2.   COMPUTATION OF NET INCOME (LOSS) PER SHARE

The following table sets forth the computation of basic and diluted net income (loss) per share:

	Three Months Ended						Six Months Ended
	July 31,						July 31,
	2011			2010			2011			2010
	(in thousands)						(in thousands)
Net income (loss)	$	3,070		$	315		$	4,090		$	(905	)
Less: Dividends declared		(947	)		(787	)		(1,881	)		(1,573	)
Undistributed net income (loss)	$	2,123		$	(472	)	$	2,209		$	(2,478	)
Net income (loss) per share – Class A Common Stock
Dividends declared	$	785		$	651		$	1,559		$	1,302
Allocation of undistributed net income (loss)		1,759			(390	)		1,830			(2,051	)
Net income (loss) attributable to Class A common stock	$	2,544		$	261		$	3,389		$	(749	)
Weighted average shares of Class A common stock outstanding-basic		12,900			12,589			12,849			12,567
Weighted average potential shares of Class A common stock		397			806			393			--
Weighted average shares of Class A common stock and potential common shares outstanding-diluted		13,297			13,395			13,242			12,567
Basic net income (loss) per Class A common share	$	0.20		$	0.02		$	0.26		$	(0.06	)
Diluted net income (loss) per Class A common share	$	0.19		$	0.02		$	0.26		$	(0.06	)
Net income (loss) per share – Class B Common Stock
Dividends declared	$	162		$	136		$	322		$	271
Allocation of undistributed net income (loss)		364			(82	)		379			(427	)
Net income (loss) attributable to Class B common stock	$	526		$	54		$	701		$	(156	)
Weighted average shares of Class B common stock outstanding-basic		3,195			3,147			3,189			3,142
Weighted average potential shares of Class B common stock		99			202			99			--
Weighted average shares of Class B common stock and potential common shares outstanding-diluted		3,294			3,349			3,288			3,142
Basic net income (loss) per Class B common share	$	0.16		$	0.02		$	0.22		$	(0.05	)
Diluted net income (loss) per Class B common share	$	0.16		$	0.02		$	0.21		$	(0.05	)

Potential common shares consist of the shares issuable upon the release of restricted stock units (“RSUs”) and the exercise of stock options and stock appreciation rights (“SARs”). The Company's unvested RSUs are not considered participating securities as they do not have rights to dividends or dividend equivalents prior to release. In addition, the Company's unexercised stock options and SARs are not considered participating securities as they do not have rights to dividends or dividend equivalents prior to exercise. Class A common stock equivalents of approximately 2.2 million and 2.1 million for the three and six months ended July 31, 2011, respectively, were not included in the diluted calculation because their effects were anti-dilutive. Class B common stock equivalents of approximately 0.5 million for the three and six months ended July 31, 2011 were not included in the diluted calculation because their effects were anti-dilutive. Class A common stock equivalents of approximately 1.6 million and 2.6 million, respectively, for the three and six months ended July 31, 2010 were not included in the diluted calculation because their effects were anti-dilutive. Class B common stock equivalents of approximately 0.4 million and 0.7 million, respectively, for the three and six months ended July 31, 2010 were not included in the diluted calculation because their effects were anti-dilutive.