COMPUTATION OF NET (LOSS) INCOME PER SHARE

3 Months Ended

Apr. 30, 2016

COMPUTATION OF NET (LOSS) INCOME PER SHARE [Abstract]

COMPUTATION OF NET (LOSS) INCOME PER SHARE

2. COMPUTATION OF NET (LOSS) INCOME PER SHARE

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

	Three Months Ended April 30,
	2016			2015
	(in thousands except per share data)
Net (loss) income	$	(2,742	)	$	549
Less: Dividends declared		(1,316	)		(1,299	)
Undistributed net loss	$	(4,058	)	$	(750	)
Net (loss) income per share – Class A Common Stock
Dividends declared	$	1,124		$	1,107
Allocation of undistributed net loss		(3,465	)		(639	)
Net (loss) income attributable to Class A common stock	$	(2,341	)	$	468
Weighted average shares of Class A common stock outstanding—basic		15,594			15,262
Weighted average potential shares of Class A common stock		—			786
Weighted average shares of Class A common stock and potential common shares outstanding—diluted		15,594			16,048
Basic net (loss) income per Class A common share	$	(0.15	)	$	0.03
Diluted net (loss) income per Class A common share	$	(0.15	)	$	0.03
Net (loss) income per share – Class B Common Stock
Dividends declared	$	192		$	192
Allocation of undistributed net loss		(593	)		(111	)
Net (loss) income attributable to Class B common stock	$	(401	)	$	81
Weighted average shares of Class B common stock outstanding—basic		3,204			3,196
Weighted average potential shares of Class B common stock		—			83
Weighted average shares of Class B common stock and potential common shares outstanding—diluted		3,204			3,279
Basic net (loss) income per Class B common share	$	(0.13	)	$	0.03
Diluted net (loss) income per Class B common share	$	(0.13	)	$	0.02

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 and unexercised SARs are not considered participating securities as they do not have rights to dividends or dividend equivalents prior to release or exercise.

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:

	Three Months Ended April 30,
	2016		2015
	(in thousands)
Class A		2,807		326
Class B		349		60