Commitments

12 Months Ended

Jan. 31, 2012

Commitments [Abstract]

COMMITMENTS

NOTE 13 – COMMITMENTS

The Company leases office space and other facilities under non-cancelable operating leases expiring on various dates through February 2014. Certain leases contain renewal options. As it is management’s intention to continue to occupy the headquarters facility of SMC, the future minimum lease payment amounts presented below include the payment amounts associated with five remaining two-year option terms. None of the Company’s leases include significant amounts for incentives, rent holidays, penalties, or price escalations. Under certain lease agreements, the Company is obligated to pay property taxes, insurance, and maintenance costs. Total rent expense amounts for continuing operations under operating leases and other rental agreements relating to office space, other facilities and equipment were $4.8 million and $6.0 million for the years ended January 31, 2012 and 2011, respectively.

The following is a schedule of future minimum lease payments for the operating leases of continuing operations that had initial or remaining non-cancelable lease terms in excess of one year as of January 31, 2012:

2013	$	337,000
2014		183,000
2015		99,000
2016		89,000
2017		86,000
Thereafter		256,000
Total	$	1,050,000