Earnings per Share

9 Months Ended

Oct. 31, 2013

Earnings Per Share [Abstract]

Earnings per Share

8. 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,				Nine Months Ended October 31,
	2013		2012		2013		2012
	(in thousands)				(in thousands)
Basic weighted average common shares outstanding		12,767		12,771		12,766		12,687
Stock options		359		415		390		558
Unvested restricted stock		19		20		24		19
Total weighted average common share equivalents		378		435		414		577
Diluted weighted average common shares outstanding		13,145		13,206		13,180		13,264

For the three months ended October 31, 2013 and 2012, potentially dilutive common shares, underlying stock options and unvested restricted stock were anti-dilutive and were therefore not considered in calculating diluted loss per share for that period.