STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jul. 31, 2015

STOCK-BASED COMPENSATION

Summary of Activity under Company's Stock Option Plans

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Term (years)	Weighted Average Fair Value
Outstanding, February 1, 2015	876,350		$	22.34	7.08	$	6.01
Granted	135,000		$	33.62
Exercised	(59,450	)	$	16.82
Forfeited	(6,000	)	$	17.33
Outstanding, July 31, 2015	945,900		$	24.33	7.20	$	6.53
Exercisable, July 31, 2015	685,900		$	20.85	6.60	$	5.71

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Term (years)	Weighted Average Fair Value
Outstanding, February 1, 2014	916,150		$	17.36	6.04	$	5.58
Granted	180,500		$	27.09
Exercised	(153,800	)	$	14.84
Outstanding, July 31, 2014	942,850		$	19.63	6.65	$	5.72
Exercisable, July 31, 2014	540,350		$	15.67	5.92	$	5.91

Summary of Change in Number of Non-Vested Options to Purchase Shares of Common Stock

	Shares		Weighted Average Fair Value
Nonvested, February 1, 2015	305,500		$	7.14
Granted	135,000		$	8.99
Vested	(180,500	)	$	6.28
Nonvested, July 31, 2015	260,000		$	8.70

	Shares		Weighted Average Fair Value
Nonvested, February 1, 2014	303,000		$	4.40
Granted	180,500		$	6.28
Vested	(81,000	)	$	3.30
Nonvested, July 31, 2014	402,500		$	5.46

Summary of Assumptions Used to Estimate Fair Value of Stock Options Granted

	Six Months Ended July 31,
	2015		2014
Dividend yield	2.09	%	2.77	%
Expected volatility	34.80	%	33.83	%
Risk-free interest rate	1.43	%	1.26	%
Expected life in years	5.22		4.81