Earnings per Share

3 Months Ended

Apr. 30, 2016

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 April 30,
	2016		2015
	(in thousands)
Basic weighted average common shares outstanding		12,059		12,018
Stock options		—		50
Unvested restricted stock		63		33
Total weighted average common share equivalents		63		83
Diluted weighted average common shares outstanding		12,122		12,101

For the three months ended April 30, 2016 and 2015, 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.