COMPUTATION OF NET INCOME PER SHARE

3 Months Ended

Apr. 30, 2012

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
	April 30,
	2012			2011
	(in thousands)
Net income	$	1,844		$	1,020
Less: Dividends declared		(1,078	)		(934	)
Undistributed net income	$	766		$	86
Net income per share - Class A Common Stock
Dividends declared	$	890		$	774
Allocation of undistributed net income		634			71
Net income attributable to Class A common stock	$	1,524		$	845
Weighted average shares of Class A common stock outstanding-basic		12,693			12,797
Weighted average potential shares of Class A common stock		519			395
Weighted average shares of Class A common stock and potential common shares outstanding-diluted		13,212			13,192
Basic net income per Class A common share	$	0.12		$	0.07
Diluted net income per Class A common share	$	0.12		$	0.06
Net income per share - Class B Common Stock
Dividends declared	$	188		$	160
Allocation of undistributed net income		132			15
Net income attributable to Class B common stock	$	320		$	175
Weighted average shares of Class B common stock outstanding-basic		3,168			3,184
Weighted average potential shares of Class B common stock		119			99
Weighted average shares of Class B common stock and potential common shares outstanding-diluted		3,287			3,283
Basic net income per Class B common share	$	0.10		$	0.06
Diluted net income per Class B common share	$	0.10		$	0.05

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 2.1 million for each of  the three months ended April 30, 2012 and 2011, were not included in the diluted calculation because their effects were anti-dilutive. Class B common stock equivalents of approximately 0.4 million and 0.5 million for the three months ended April 30, 2012 and 2011, respectively, were not included in the diluted calculation because their effects were anti-dilutive.