Stock-based compensation

9 Months Ended

Oct. 31, 2014

Stock-based compensation [Abstract]

Stock-based compensation [Text Block]

Stock-basedcompensation. The Company has stock-based compensation awards that can be granted to eligible employees, officers or directors.

	Three Months Ended October 31,					Nine Months Ended October 31,
	2014		2013			2014			2013
Stock-based compensation expense (benefit)		$74		($2	)		($217	)		$55
Restricted stock based compensation expense		$16		$62			$123			$288

Stock-based compensation was a benefit year-to-date due to cancellations. Most of these cancellations related to former employees from the discontinued operations.

Options

The fair value of the outstanding option awards was estimated on the grant dates using the Black-Scholes option pricing model.

	Nine Months Ended October 31,
Fair value assumptions	2014	2013
Expected volatility	40.88% - 59.39%	49.65% - 65.54%
Risk free interest rate	.74% - 1.77%	.74% - 2.82%
Dividend yield	none	none
Expected life	4.9 - 5.1 years	4.9 - 5.7 years

Option activity	Options		Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term in Years	Aggregate Intrinsic Value
Outstanding at January 31, 2014	776			$11.69	6.1		$3,859
Granted	97		12.41
Exercised	(45	)	7.27			155
Expired or forfeited	(61	)	19.35
Outstanding end of period	767		11.45		6.0	857
Exercisable end of period	520			$12.09	4.7		$676

Unvested option activity	Unvested Options Outstanding		Weighted Average Exercise Price Per Share		Aggregate Intrinsic Value
Outstanding at January 31, 2014	263			$8.31		$1,633
Granted	97		12.41
Vested	(102	)
Expired or forfeited	(11	)	8.36
Outstanding end of period	247			$10.10		$180

As of October 31, 2014, there was $0.9 million of total unrecognized compensation expense related to unvested stock options. The expense is expected to be recognized over a period of 2.6 years.

Restricted stock

In June 2014 under the Company's 2013 Omnibus Plan, the Company granted deferred stock units to each non-employee director at the time of the annual meeting of stockholders equal to the result of dividing $30,000 by the fair market value of the common stock on the date of grant. The stock will be distributed to the directors upon their separation from service. During the second quarter of 2014, two board members retired and 7,580 shares of common stock were issued to them.

In June 2014 under the 2013 Omnibus Plan, the Company granted restricted stock to Tier I and Tier II executive officers. A portion of the restricted stock vests in annual installments over two years, a portion vests in annual installments over three years and a portion vests in three years based on performance. Until restricted stock becomes vested and nonforfeitable, it may not be sold, assigned, transferred, pledged, hypothecated or disposed of in any way (whether by operation of law or otherwise), except by will or the laws of descent and distribution, and is not subject to execution, attachment or similar process. The Company issues new shares from its authorized but unissued share pool. The Company calculates restricted stock compensation expense based on the grant date fair value and recognizes expense on a straight-line basis over the vesting period.

The following table summarizes restricted stock activity for the year:

Restricted stock activity	Shares Outstanding		Weighted Average Exercise Price Per Share		Aggregate Intrinsic Value
Outstanding at January 31, 2014	29			$14.52		$419
Granted	84		12.41
Issued	(80	)
Outstanding end of period	33			$9.12		$305

As of October 31, 2014, there was $0.5 million of unrecognized compensation expense related to unvested restricted stock granted under the plans. The cost is expected to be recognized over the weighted-average period of 2.0 years.