STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Apr. 30, 2013

STOCK-BASED COMPENSATION [Abstract]

Restricted stock units transactions

The following table summarizes RSU transactions for the three-months ended April 30, 2013:

	Units
Non-vested at February 1, 2013	15,465
Granted	-
Vested	-
Forfeited	-
Non-vested at April 30, 2013	15,465

Valuation assumptions

The application of this valuation model relies on the following assumptions that are judgmental and sensitive in the determination of the compensation expense:

	Three Months Ended
	April 30,
	2013			2012
Expected term (years)		5.0			5.0
Risk-free interest rate		0.77% - 1.68	%		0.88% - 2.11	%
Expected volatility		43% - 45	%		43% - 45	%
Dividend yield		2.18% - 2.93	%		2.18% - 2.88	%

Summary of stock option transactions

The following table summarizes stock option transactions for the three-month period ended April 30, 2013:

						Weighted
				Weighted		Average
				Average		Remaining		Aggregate
	Shares			Exercise Price		Life (years)		Intrinsic Value
Options:
Outstanding at February 1, 2013		1,303,192		$	10.3077		4.83
Granted		136,875			10.2000
Forfeited		(32,700	)		11.5690
Exercised		(11,201	)		11.0001
Outstanding at April 30, 2013		1,396,166		$	10.2620		5.06	$	4,381,169
Exercisable at April 30, 2013		1,131,964		$	10.2382		4.11	$	3,579,270