Stock-Based Compensation (Tables)

9 Months Ended

Oct. 31, 2013

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Activity under Option and Stock Plans

A summary of activity under the Option and Stock Plans for the nine months ended October 31, 2013 is presented below:

Options	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contract Term (Years)		Weighted Average Fair Value
Outstanding, January 31, 2013		926,224		$	14.34		5.39	$	5.93
Granted		228,000		$	19.49
Exercised		(220,224	)	$	11.26
Outstanding, October 31, 2013		934,000		$	16.32		6.30	$	5.62
Exercisable, October 31, 2013		490,500		$	14.03		4.65	$	6.29
Exercisable, January 31, 2013		537,724		$	12.16		4.46	$	6.12

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

A summary of the change in the number of non-vested options to purchase shares of common stock for the nine months ended October 31, 2013 is presented below:

	Shares			Weighted Average Fair Value
Nonvested, January 31, 2013		388,500		$	5.67
Granted		228,000		$	3.85
Vested		(173,000	)	$	5.29
Nonvested, October 31, 2013		443,500		$	4.88

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

The fair value of each stock option granted in the nine-month period ended October 31, 2013 was estimated on the corresponding date of award using the Black-Scholes option-pricing model based on the following weighted average assumptions.

	Nine Months Ended October 31, 2013
Dividend yield		3.59	%
Expected volatility		32.87	%
Risk-free interest rate		1.27	%
Expected life in years		4.53