Note 3 - Computation of Net (Loss) Income Per Share

3 Months Ended

Apr. 30, 2019

Notes to Financial Statements

Earnings Per Share [Text Block]

3. COMPUTATION OF NET (LOSS) INCOME PER SHARE

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

	Three Months Ended April 30,
	2019			2018
	(in thousands except per share data)
Net (loss) income	$	(3,234	)	$	1,397
Less: Dividends declared		(1,374	)		(1,359	)
Undistributed net (loss) income	$	(4,608	)	$	38
Net (loss) income per share – Class A Common Stock
Dividends declared	$	1,178		$	1,164
Allocation of undistributed net (loss) income		(3,952	)		32
Net (loss) income attributable to Class A common stock	$	(2,774	)	$	1,196
Weighted average shares of Class A common stock outstanding— basic		16,367			16,076
Weighted average potential shares of Class A common stock		—			1,750
Weighted average shares of Class A common stock and potential common shares outstanding— diluted		16,367			17,826
Basic net (loss) income per Class A common share	$	(0.17	)	$	0.07
Diluted net (loss) income per Class A common share	$	(0.17	)	$	0.07
Net (loss) income per share – Class B Common Stock
Dividends declared	$	196		$	195
Allocation of undistributed net (loss) income		(656	)		6
Net (loss) income attributable to Class B common stock	$	(460	)	$	201
Weighted average shares of Class B common stock outstanding— basic		3,264			3,232
Weighted average potential shares of Class B common stock		—			182
Weighted average shares of Class B common stock and potential common shares outstanding— diluted		3,264			3,414
Basic net (loss) income per Class B common share	$	(0.14	)	$	0.06
Diluted net (loss) income per Class B common share	$	(0.14	)	$	0.06

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 and unexercised SARs are

not

considered participating securities as they do

not

have rights to dividends or dividend equivalents prior to release or exercise.

The following table sets forth the number of potential common shares

not

included in the calculation of diluted earnings per share because their effects were anti-dilutive:

	Three Months Ended April 30,
	2019		2018
	(in thousands)
Class A		2,899		—
Class B		278		—