Earnings Per Share

3 Months Ended

Apr. 30, 2016

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” at April 30, 2016 and 2015, as follows:

	Three Months Ended
	April 30, (in $000s)
	2016		2015
Numerator
Net income from continuing operations	$	3	$	2,160
Net income (loss) from discontinued operations		—		(931)
Net income	$	3	$	1,229
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, and 0 and 566,015 weighted average common equivalents relating to the warrant issued with the FY14 subordinated debt financing)		7,254,162		7,062,144
Effect of dilutive securities from restricted stock plan and from dilutive effect of stock options		70,421		173,241
Denominator for diluted earnings per share (adjusted weighted average shares)		7,324,583		7,235,385
Basic earnings per share from continuing operations	$	0.00	$	0.31
Basic earnings per share from discontinued operations	$	0.00	$	(0.14)
Basic earnings per share	$	0.00	$	0.17
Diluted earnings per share from continuing operations	$	0.00	$	0.30
Diluted earnings per share from discontinued operations	$	0.00	$	(0.13)
Diluted earnings per share	$	0.00	$	0.17