Earnings per Share

9 Months Ended

Oct. 31, 2012

Earnings per Share [Abstract]

Earnings per Share

10. Earnings per Share

Net income per basic common share is computed using the weighted average number of common shares outstanding during the period, excluding unvested restricted stock. Net income per diluted common share is computed using the weighted average number of common shares and dilutive potential common shares outstanding during the period using the treasury stock method. Potential common shares result from the assumed exercise of outstanding common stock options having a dilutive effect and from the assumed vesting of unvested shares of restricted stock.

The following table presents the calculation of basic and diluted weighted average common shares used in the earnings per share calculation:

	Three Months Ended October 31,				For the Nine Months Ended October 31,
	2012		2011		2012		2011
	(in thousands)				(in thousands)
Basic weighted average common shares outstanding		12,771		12,381		12,687		11,091
Stock options		415		586		558		581
Unvested restricted stock		20		15		19		17
Total weighted average common share equivalents		435		601		577		598
Diluted weighted average common shares outstanding		13,206		12,982		13,264		11,689

For the three months ended October 31, 2012, diluted weighted average common shares were anti-dilutive and were therefore not considered in calculating diluted loss per share for that period.