Earnings Per Share

3 Months Ended

Apr. 30, 2013

EARNINGS PER SHARE

NOTE 6 – EARNINGS PER SHARE

The Company presents net income per share on a basic and diluted basis. Basic earnings per share are computed using weighted-average shares outstanding during the period. Diluted earnings per share are computed using the weighted-average number of shares outstanding adjusted for dilutive common stock equivalents.

The weighted-average number of shares outstanding for basic earnings per share was 25,522,000 and 25,109,000 for the three months ended April30, 2013 and 2012, respectively. For the three months ended April30, 2013 and 2012, respectively, the number of shares outstanding for diluted earnings per share was increased by 351,000 and 366,000, due to potentially dilutive common stock equivalents issuable under the Company’s stock compensation plans and SERP.

For the three months ended April30, 2013 and April30, 2012, approximately 19,000 and 104,000 of potentially dilutive common stock equivalents, respectively, were excluded from the computation of dilutive earnings per share because their effect would have been antidilutive.