COMPUTATION OF NET INCOME PER SHARE

6 Months Ended

Jul. 31, 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 July 31,						Six Months Ended July 31,
	2012			2011			2012			2011
	(in thousands)						(in thousands)
Net income	$	959		$	3,070		$	2,803		$	4,090
Less: Dividends declared		(1,110	)		(947	)		(2,187	)		(1,881	)
Undistributed net income (loss)	$	(151	)	$	2,123		$	616		$	2,209
Net income per share – Class A Common Stock
Dividends declared	$	920		$	785		$	1,810		$	1,559
Allocation of undistributed net income		(125	)		1,759			509			1,830
Net income attributable to Class A common stock	$	795		$	2,544		$	2,319		$	3,389
Weighted average shares of Class A common stock outstanding—basic		12,649			12,900			12,671			12,849
Weighted average potential shares of Class A common stock		433			397			473			393
Weighted average shares of Class A common stock and potential common shares outstanding—diluted		13,082			13,297			13,144			13,242
Basic net income per Class A common share	$	0.06		$	0.20		$	0.18		$	0.26
Diluted net income per Class A common share	$	0.06		$	0.19		$	0.18		$	0.26
Net income per share – Class B Common Stock
Dividends declared	$	190		$	162		$	377		$	322
Allocation of undistributed net income		(26	)		364			107			379
Net income attributable to Class B common stock	$	164		$	526		$	484		$	701
Weighted average shares of Class B common stock outstanding—basic		3,164			3,195			3,166			3,189
Weighted average potential shares of Class B common stock		100			99			108			99
Weighted average shares of Class B common stock and potential common shares outstanding—diluted		3,264			3,294			3,274			3,288
Basic net income per Class B common share	$	0.05		$	0.16		$	0.15		$	0.22
Diluted net income per Class B common share	$	0.05		$	0.16		$	0.15		$	0.21

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 2.3 million and 2.2 million for the three and six months ended July 31, 2012, respectively, were not included in the diluted calculation because their effects were anti-dilutive. Class B common stock equivalents of approximately 0.3 million and 0.4 million for the three and six months ended July 31, 2012, respectively, were not included in the diluted calculation because their effects were anti-dilutive. Class A common stock equivalents of approximately 2.2 million and 2.1 million, for the three and six months ended July 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 six months ended July 31, 2011 were not included in the diluted calculation because their effects were anti-dilutive.