Note 3 - Computation of Net Loss Per Share

3 Months Ended

Apr. 30, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

3. COMPUTATION OF NET LOSS   PER SHARE

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

	Three Months Ended April 30,
	2020			2019
	(in thousands except per share data)
Net loss	$	(410	)	$	(3,234	)
Less: Dividends declared		(1,431	)		(1,374	)
Undistributed net loss	$	(1,841	)	$	(4,608	)
Net loss per share – Class A Common Stock
Dividends declared	$	1,232		$	1,178
Allocation of undistributed net loss		(1,585	)		(3,952	)
Net loss attributable to Class A common stock	$	(353	)	$	(2,774	)
Weighted average shares of Class A common stock outstanding— basic		17,112			16,367
Weighted average potential shares of Class A common stock		—			—
Weighted average shares of Class A common stock and potential common shares outstanding— diluted		17,112			16,367
Basic net loss per Class A common share	$	(0.02	)	$	(0.17	)
Diluted net loss per Class A common share	$	(0.02	)	$	(0.17	)
Net loss per share – Class B Common Stock
Dividends declared	$	199		$	196
Allocation of undistributed net loss		(256	)		(656	)
Net loss attributable to Class B common stock	$	(57	)	$	(460	)
Weighted average shares of Class B common stock outstanding— basic		3,321			3,264
Weighted average potential shares of Class B common stock		—			—
Weighted average shares of Class B common stock and potential common shares outstanding— diluted		3,321			3,264
Basic net loss per Class B common share	$	(0.02	)	$	(0.14	)
Diluted net loss per Class B common share	$	(0.02	)	$	(0.14	)

Potential common shares consist of the shares issuable upon the release of restricted stock units (RSUs) and performance stock units (PSUs) and the exercise of stock appreciation rights (SARs). The Company’s unvested RSUs and PSUs, 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,
	2020		2019
	(in thousands)
Class A		1,845		2,899
Class B		150		278