Earnings Per Share

9 Months Ended

Oct. 31, 2015

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 shares 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 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 from continuing operations” for the three and nine months ended October 31, 2015 and 2014, as follows:

	Three Months Ended				Nine Months Ended
	October 31, (in $000’s)				October 31, (in $000s)
	2015		2014		2015		2014
Numerator
Net income (loss) from continuing operations	$	2,120	$	(1,755)	$	7,868	$	(839)
Net loss from discontinued operations		——		(745)		(2,485)		(2,047)
Net income (loss)	$	2,120	$	(2,500)	$	5,383	$	(2,886)
Denominator
Denominator for basic earnings per share Weighted-average shares which reflect 356,441 shares in the treasury as a result of the stock repurchase program that ended in 2011		7,234,914		5,592,559		7,148,430		5,436,959
Weighted average common equivalent shares resulting from the warrant issued June 28, 2013 to the subordinated debt lender LKL Investments LLC		—		359,054		—		496,270
Total weighted average, including common equivalent shares		7,234,914		5,951,613		7,148,430		5,933,229
Effect of dilutive securities from restricted stock plan and from dilutive effect of stock options		65,521		—		86,822		—
Denominator for diluted earnings per share (adjusted weighted average shares)		7,300,435		5,951,613		7,235,252		5,933,229
Basic earnings (loss) per share from continuing operations	$	0.29	$	(0.29)	$	1.10	$	(0.14)
Basic (loss) per share from discontinued operations		$—	$	(0.13)	$	(0.35)	$	(0.35)
Basic earnings (loss) per share	$	0.29	$	(0.42)	$	0.75	$	(0.49)
Diluted earnings per share from continuing operations	$	0.29	$	(0.29)	$	1.08	$	(0.14)
Diluted (loss) per share from discontinued operations	$	—	$	(0.13)	$	(0.34)	$	(0.35)
Diluted earnings (loss) per share	$	0.29	$	(0.42)	$	0.74	$	(0.49)