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Treasury Stock
12 Months Ended
Jan. 31, 2025
Equity [Abstract]  
Treasury Stock

NOTE 14 – TREASURY STOCK

On November 23, 2021, the Board approved a share repurchase program under which the Company was authorized to purchase up to $50.0 million of its outstanding common stock through November 23, 2024, depending on market conditions, share price and other factors. On December 5, 2024, the Board approved a new share repurchase program under which the Company is authorized to purchase up to $50.0 million of its outstanding common stock through December 5, 2027, depending on market conditions, share price and other factors. These repurchases may be made through open market purchases, repurchase plans, block trades or otherwise.

During the fiscal year ended January 31, 2025, the Company repurchased a total of 120,000 shares of its common stock under the November 23, 2021 share repurchase program at a total cost of $2.6 million, or an average of $21.90 per share. There were no shares repurchased under the December 5, 2024 share repurchase program during the fiscal year ended January 31, 2025. During the fiscal year ended January 31, 2024, the Company repurchased a total of 111,722 shares of its common stock under the November 23, 2021 share repurchase program at a total cost of $3.1 million, or an average of $27.89 per share. During the fiscal year ended January 31, 2023, the

Company repurchased a total of 898,956 shares of its common stock under the March 25, 2021 share repurchase program and November 23, 2021 share repurchase program at a total cost of $31.4 million, or an average of $34.94 per share.

At January 31, 2025, the November 23, 2021 repurchase plan had expired and $50.0 million remains available for purchase under the Company's December 5, 2024 repurchase program.

There were 42,388, 22,034 and 28,405 shares of common stock repurchased during the fiscal years ended January 31, 2025, 2024 and 2023, respectively, as a result of the surrender of shares in connection with the vesting of restricted stock awards or stock options. At the election of an employee, shares having an aggregate value on the vesting date equal to the employee’s withholding tax obligation may be surrendered to the Company.