Stock-based compensation

3 Months Ended

Apr. 30, 2017

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 April 30,
	2017			2016
Stock-based compensation benefit		($6	)		($2	)
Restricted stock based compensation expense		$192			$390

Stock-based compensation was a benefit due to cancellations. The decrease in the restricted stock based compensation expense relates to grants vested in January 2017.

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

	Three Months Ended April 30,
Fair value assumptions	2017	2016
Expected volatility	43.2%	43.4%
Risk free interest rate	1.2%	1.7%
Dividend yield	0	0
Expected life	5.0	5.0

Option activity	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 31, 2017	524			$11.55	4.5		$534
Exercised	(19	)	6.78			23
Expired or forfeited	(13	)	11.54
Outstanding end of period	492		11.73		4.2	308
Exercisable end of period	423			$12.16	3.6		$266

Unvested option activity	Options		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at January 31, 2017	74			$9.31		$69
Expired or forfeited	(5	)	11.81
Outstanding end of period	69			$9.14		$42

As of April 30, 2017, there was $0.2 million of total unrecognized compensation expense related to unvested stock options. The expense is expected to be recognized over a period of 1.8 years.

Restricted stock. The following table summarizes restricted stock activity for the year:

Restricted stock activity	Restricted Shares		Weighted Average Grant Price Per Share		Aggregate Intrinsic Value
Outstanding at January 31, 2017	290			$8.75		$2,540
Granted	5		8.74
Issued	(3	)
Forfeited	(2	)	6.92
Outstanding end of period	290			$8.03		$2,331

As of April 30, 2017, there was $1.0 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.