Earnings Per Share

9 Months Ended

Oct. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

5.  Earnings Per Share

Basic earnings per share are based on the weighted average number of common shares outstanding without consideration of common stock equivalents. Diluted earnings per share are based on the weighted average number of common and common stock equivalents. The diluted earnings per share calculation takes into account the shares that may be issued upon exercise of stock options, reduced by the shares that may be repurchased with the funds received from the exercise, based on the average price during the period.

The following table sets forth the computation of basic and diluted earnings per share for “Income for continuing operations” at October 31, 2011 and 2010 as follows:

	Three Months Ended				Nine Months Ended
	October 31,				October 31,
	2011		2010		2011		2010
Numerator
Net income from continuing operations	$	145,634	$	699,319	$	2,095,470	$	159,527
Denominator
Denominator for basic earnings per share
(weighted-average shares which reflect 356,441 and 355,041 and 125,322 and 125,322 shares in the treasury as a result of the stock repurchase program for the three months and nine months in each of 2011 and 2010, respectively		5,225,020		5,440,520		5,224,371		5,440,396
Effect of dilutive securities from restricted stock plan and from dilutive effect of stock options		131,815		105,869		123,801		73,543
Denominator for diluted earnings per share (adjusted weighted average shares)		5,356,835		5,546,389		5,348,172		5,513,939
Basic earnings per share from continuing operations	$	0.03	$	0.13	$	0.40	$	(0.03	)
Diluted earnings per share from continuing operations	$	0.03	$	0.13	$	0.39	$	(0.03	)