Three Months Ended

July 31,

Six Months Ended

July 31,

2021

2020

2021

2020

Numerator:

Net income

$

2,558

$

9,339

$

7,199

$

17,973

Denominator:

Denominator for basic net income per share (weighted-average shares which exclude shares in the treasury, 736,696 and 509,242 at July 31, 2021 and 2020, respectively

7,982,995

7,976,275

7,964,058

7,974,370

Effect of dilutive securities from restricted stock plan

158,112

103,469

156,351

87,948

Denominator for diluted net income per share (adjusted weighted average shares)

8,141,107

8,079,744

8,120,409

8,062,318

Basic net income per share

$

0.32

$

1.17

$

0.90

$

2.25

Diluted net income per share

$

0.31

$

1.16

$

0.89

$

2.23