Correction of Immaterial Errors

9 Months Ended

Oct. 31, 2014

Accounting Changes and Error Corrections [Abstract]

Correction of Immaterial Errors

Correction of Immaterial Errors

Subsequent to the year ended January 31, 2014, the Company identified certain errors in the condensed consolidated balance sheets and consolidated statements of comprehensive income (loss) for the quarters ended April 30, July 31 and October 31, 2013. The Company previously recorded its quarterly net periodic pension cost as an increase to accrued pension expenses, when a portion of the net periodic pension cost attributed to the recognized net actuarial loss or (gain) should have been recorded as a decrease in the Company’s accumulated other comprehensive loss. These errors have no impact on the amounts previously reported in the Company’s statements of operations or statements of cash flows. Further, these errors have no impact on its consolidated financial statements as of and for the year ended January 31, 2014.

Management has evaluated the materiality of these errors quantitatively and qualitatively and has concluded that the corrections of these errors are immaterial to the condensed consolidated balance sheets, consolidated statements of comprehensive income (loss), and the financial statements as a whole. Accordingly, the Company has corrected the accompanying condensed consolidated balance sheet and consolidated statement of comprehensive income (loss) for the three and nine months ended October 31, 2013. The effect of recording immaterial corrections in the condensed consolidated balance sheets and consolidated statements of comprehensive income (loss) for the quarter ended October 31, 2013 is as follows:

	For the Quarter Ended October 31, 2013
(in thousands)	As Previously Reported		As Corrected
Accrued pension expenses	$	26,398	$	25,192
Total stockholder’s equity	33,181		34,387
Net income (loss)	3,408		3,408
Comprehensive income (loss)	4,208		4,610
Impact for period-to-date comprehensive income (loss)	5,971		7,177