SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jan. 31, 2015

SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Accounts receivable, net, consisted of the following as of January 31:

	2015			2014
	(in thousands)
Accounts receivable	$	81,411		$	73,787
Less allowance for:
Doubtful accounts		(1,194	)		(1,221	)
Sales adjustments		(1,330	)		(1,229	)
Accounts receivable, net	$	78,887		$	71,337

Schedule of Property and equipment, net

Property and equipment, net consisted of the following as of January 31:

	2015			2014
	(in thousands)
Buildings and building improvements	$	31,898		$	32,298
Computer equipment and software		15,220			22,121
Furniture and office equipment		7,783			10,856
Leasehold improvements		5,856			6,033
Land		3,850			3,850
Automobiles		54			43
		64,661			75,201
Less accumulated depreciation and amortization		(31,507	)		(42,116	)
	$	33,154		$	33,085

Changes in property and equipment

The changes in property and equipment, net, for the fiscal years ended January 31were as follows:

	2015			2014
	(in thousands)
Cost
Balance at February 1	$	75,201		$	76,109
Additions		4,577			4,779
Disposals		(13,351	)		(5,145	)
Impact of foreign currency translation		(1,766	)		(542	)
Balance at January 31	$	64,661		$	75,201

Accumulated depreciation
Balance at February 1	$	(42,116	)	$	(43,583	)
Depreciation		(3,816	)		(4,080	)
Disposals		13,334			5,113
Impact of foreign currency translation		1,091			434
Balance at January 31		(31,507	)		(42,116	)
Property and equipment, net at January 31	$	33,154		$	33,085

Schedule of capitalized software costs

Capitalized software costs and accumulated amortization at January 31 were as follows:

		2015			2014
	(in thousands)
Capitalized software costs:
Acquired software technology (1)		$	3,458		$	3,577
Capitalized software development costs (1)			1,206			1,183
			4,664			4,760
Less accumulated amortization			(2,179	)		(1,445	)
Capitalized software costs, net		$	2,485		$	3,315

(1)	Acquired software technology and capitalized software development costs include the impact of foreign currency translation.

Estimated amortization expense

The following table summarizes the estimated amortization expense relating to the Company’s capitalized software costs as of January 31, 2015:

Fiscal Years	(in thousands)
2016	$	1,065
2017		903
2018		512
2019		5
	$	2,485

Changes in carrying amount of goodwill

The changes in the carrying amount of goodwill for the fiscal years ended January 31, 2015, and 2014 were as follows:

	Gross Carrying Amount			Accumulated Impairment			Goodwill, Net
	(in thousands)
Balance at January 31, 2013	$	27,020		$	(15,608	)	$	11,412
CEBOS adjustment (1)		105			—			105
Impact of foreign currency translation		(140	)		—			(140	)
Balance at January 31, 2014		26,985			(15,608	)		11,377
Impact of foreign currency translation		(466	)		—			(466	)
Balance at January 31, 2015	$	26,519		$	(15,608	)	$	10,911

(1)

During the fourth quarter of fiscal 2014 the Company finalized the allocation of the purchase price and recorded an adjustment of $0.1 million related to a change in certain assumptions associated with accounts receivable. This adjustment increased the provisionally recognized goodwill by the same amount.

Intangible assets

Intangible assets as of January 31 were as follows:

	2015			2014
	(in thousands)
Amortizable intangible assets
Customer relationships (1)	$	2,793		$	3,048
Trade name		515			515
		3,308			3,563
Less: accumulated amortization		(1,558	)		(978	)
Net amortizable intangible assets	$	1,750		$	2,585

(1)	Customer relationships include the impact of foreign currency translation.

Estimated amortization expense relating intangible assets

The following table summarizes the estimated amortization expense relating to the Company’s intangible assets as of January 31, 2015:

Fiscal Years	(in thousands)
2016	$	665
2017		665
2018		420
	$	1,750

Components other (income) expense

The components of other (income) expense, net for fiscal 2015, 2014 and 2013 were as follows:

	Years Ended January 31,
	2015			2014			2013
	(in thousands)
Interest income	$	(242	)	$	(284	)	$	(590	)
Interest expense		811			829			990
Foreign exchange (gains) losses		(878	)		(67	)		1,180
Change in fair value of interest rate swap		877			(634	)		384
Other income, net		(168	)		(593	)		(446	)
Total other (income) expense, net	$	400		$	(749	)	$	1,518

Computation of basic and diluted net income per share

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

	Years Ended January 31,
	2015			2014			2013
	(in thousands, except per share data)
Net income	$	12,946		$	6,386		$	6,639
Less: dividends declared		(4,452	)		(4,362	)		(8,677	)
Undistributed net income (loss)	$	8,494		$	2,024		$	(2,038	)

Net income per share – Class A Common Stock
Dividends declared	$	3,688		$	3,606		$	7,166
Allocation of undistributed net income (loss)		7,041			1,676			(1,683	)
Net income attributable to Class A common stock	$	10,729		$	5,282		$	5,483

Weighted average shares of Class A common stock outstanding—basic		12,841			12,501			12,596
Weighted average potential shares of Class A common stock		712			484			467
Weighted average shares of Class A common stock and potential common shares outstanding—diluted		13,553			12,985			13,063

Basic net income per Class A common share	$	0.84		$	0.42		$	0.44
Diluted net income per Class A common share	$	0.79		$	0.41		$	0.42
Net income per share – Class B Common Stock
Dividends declared	$	764		$	756		$	1,511
Allocation of undistributed net income (loss)		1,453			348			(355	)
Net income attributable to Class B common stock	$	2,217		$	1,104		$	1,156

Weighted average shares of Class B common stock outstanding—basic		3,183			3,149			3,160
Weighted average potential shares of Class B common stock		88			89			106
Weighted average shares of Class B common stock and potential common shares outstanding—diluted		3,271			3,238			3,266

Basic net income per Class B common share	$	0.70		$	0.35		$	0.37
Diluted net income per Class B common share	$	0.68		$	0.34		$	0.35

Schedule of potential common shares not included in calculation of diluted earnings per share

The following table sets forth the number of potential common shares not included in the calculation of diluted earnings per share because their effects were anti-dilutive:

	Years Ended January 31,
	2015		2014		2013
	(in thousands)
Class A		211		1,179		1,124
Class B		45		184		151