Three Months Ended

October 31,

Nine Months Ended

October 31,

(in $000s except share and per share information)

2018

2017

2018

2017

Numerator:

Net income

$

501

$

1,806

$

3,386

$

5,358

Denominator:

Denominator for basic earnings per share (weighted-average shares which reflect 356,441 shares in the treasury)

8,119,448

7,894,582

8,117,307

7,477,202

Effect of dilutive securities from restricted stock plan and from dilutive effect of warrants

66,682

27,815

57,253

53,435

Denominator for diluted earnings per share (adjusted weighted average shares)

8,186,130

7,922,397

8,174,560

7,530,637

Basic earnings per share

$

0.06

$

0.23

$

0.42

$

0.72

Diluted earnings per share

$

0.06

$

0.23

$

0.41

$

0.71