Stockholders’ Equity

6 Months Ended

Jul. 31, 2015

Equity [Abstract]

Stockholders’ Equity

Stockholders’ Equity

At April 30, 2015, $1.1 million remained available for repurchases of the Company’s common stock pursuant to the Company’s repurchase program. During the second quarter the Board of Directors terminated the repurchase plan. Prior to the termination of the repurchase plan, the Company did not repurchase any shares of its common stock during the three or six months ended July 31, 2015. Pursuant to the Company’s Credit Agreement with PNC, the Company is prohibited from repurchasing any shares of its stock except in cases where a repurchase is financed by a substantially concurrent issuance of new shares of the Company’s common stock.