Shareholders' Equity

12 Months Ended

Jan. 31, 2015

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Note 8. Shareholders’ Equity

During Fiscal 2014, the Company repurchased approximately 1 million shares of common stock for an aggregate purchase price of $3.5 million. Since the inception of the program, the Company has repurchased 1,573,818 shares of common stock at an average price of $3.86 per share. As of January 31, 2015, the Company has approximately $16.0 million available for purchase under their repurchase program.

The Company classified the repurchased shares as treasury stock on the Company’s consolidated balance sheet.

In the first quarter of Fiscal 2014, the Company declared and paid a special cash dividend of $0.50 per common share. No cash dividends were paid in 2013. The Company’s Credit Facility contains certain restrictions related to the payment of cash dividends, including limiting the amount of dividends to $5.0 million annually. On March 5, 2014, Wells Fargo Bank, National Association (the “Administrative Agent”) and certain other parties to the amended credit facility agreed to consent to the special cash dividend.