COMPUTATION OF NET INCOME PER SHARE

9 Months Ended

Oct. 31, 2011

COMPUTATION OF NET INCOME PER SHARE [Abstract]

COMPUTATION OF NET INCOME PER SHARE

2.  COMPUTATION OF NET INCOME PER SHARE

The following table sets forth the computation of basic and diluted net income per share:

	Three Months Ended October 31,						Nine Months Ended October 31,
	2011			2010			2011			2010
	(in thousands, except per share data)
Net income	$	3,010		$	1,673		$	7,100		$	768
Less: Dividends declared		(1,120	)		(792	)		(3,001	)		(2,365	)
Undistributed net income (loss)	$	1,890		$	881		$	4,099		$	(1,597	)
Net income per share – Class A Common Stock
Dividends declared	$	930		$	656		$	2,489		$	1,958
Allocation of undistributed net income (loss)		1,569			730			3,399			(1,322	)
Net income attributable to Class A common stock	$	2,499		$	1,386		$	5,888		$	636
Weighted average shares of Class A common stock outstanding-basic		12,975			12,632			12,892			12,589
Weighted average potential shares of Class A common stock		407			795			394			802
Weighted average shares of Class A common stock and potential common shares outstanding-diluted		13,382			13,427			13,286			13,391
Basic net income per Class A common share	$	0.19		$	0.11		$	0.46		$	0.05
Diluted net income per Class A common share	$	0.19		$	0.10		$	0.44		$	0.05
Net income per share – Class B Common Stock
Dividends declared	$	190		$	136		$	512		$	407
Allocation of undistributed net income (loss)		321			151			700			(275	)
Net income attributable to Class B common stock	$	511		$	287		$	1,212		$	132
Weighted average shares of Class B common stock outstanding-basic		3,203			3,158			3,194			3,147
Weighted average potential shares of Class B common stock		98			199			98			201
Weighted average shares of Class B common stock and potential common shares outstanding-diluted		3,301			3,357			3,292			3,348
Basic net income per Class B common share	$	0.16		$	0.09		$	0.38		$	0.04
Diluted net income per Class B common share	$	0.15		$	0.09		$	0.37		$	0.04

Potential common shares consist of the shares issuable upon the release of restricted stock units (“RSUs”) and the exercise of stock options and stock appreciation rights (“SARs”). The Company's unvested RSUs are not considered participating securities as they do not have rights to dividends or dividend equivalents prior to release. In addition, the Company's unexercised stock options and SARs are not considered participating securities as they do not have rights to dividends or dividend equivalents prior to exercise. Class A common stock equivalents of approximately 2.2 million and 2.1 million for the three and nine months ended October 31, 2011, respectively, were not included in the diluted calculation because their effects were anti-dilutive. Class B common stock equivalents of approximately 0.5 million for the three and nine months ended October 31, 2011 were not included in the diluted calculation because their effects were anti-dilutive. Class A common stock equivalents of approximately 1.8 million and 1.5 million, respectively, for the three and nine months ended October 31, 2010 were not included in the diluted calculation because their effects were anti-dilutive. Class B common stock equivalents of approximately 0.4 million for the three and nine months ended October 31, 2010 were not included in the diluted calculation because their effects were anti-dilutive.