Note 3 - Computation of Net Income (Loss) Per Share

3 Months Ended

Apr. 30, 2018

Notes to Financial Statements

Earnings Per Share [Text Block]

3

.   COMPUTATION OF NET INCOME

(LOSS)

PER SHARE

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

	Three Months Ended April 30,
	2018			2017
	(in thousands except per share data)
Net income (loss)	$	1,397		$	(2,571	)
Less: Dividends declared		(1,359	)		(1,331	)
Undistributed net income (loss)	$	38		$	(3,902	)
Net income (loss) per share – Class A Common Stock
Dividends declared	$	1,164		$	1,138
Allocation of undistributed net income (loss)		32			(3,337	)
Net income (loss) attributable to Class A common stock	$	1,196		$	(2,199	)
Weighted average shares of Class A common stock outstanding— basic		16,076			15,809
Weighted average potential shares of Class A common stock		1,750			—
Weighted average shares of Class A common stock and potential common shares outstanding— diluted		17,826			15,809
Basic net income (loss) per Class A common share	$	0.07		$	(0.14	)
Diluted net income (loss) per Class A common share	$	0.07		$	(0.14	)
Net income (loss) per share – Class B Common Stock
Dividends declared	$	195		$	193
Allocation of undistributed net income (loss)		6			(565	)
Net income (loss) attributable to Class B common stock	$	201		$	(372	)
Weighted average shares of Class B common stock outstanding— basic		3,232			3,210
Weighted average potential shares of Class B common stock		182			—
Weighted average shares of Class B common stock and potential common shares outstanding— diluted		3,414			3,210
Basic net income (loss) per Class B common share	$	0.06		$	(0.12	)
Diluted net income (loss) per Class B common share	$	0.06		$	(0.12	)

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,
	2018		2017
	(in thousands)
Class A		—		3,036
Class B		—		389