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

3 Months Ended

Apr. 30, 2021

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,
	2021			2020
	(in thousands except per share data)
Net income (loss)	$	1,832		$	(410	)
Less: Dividends declared		(1,454	)		(1,431	)
Undistributed net income (loss)	$	378		$	(1,841	)
Net income (loss) per share – Class A Common Stock
Dividends declared	$	1,254		$	1,232
Allocation of undistributed net income (loss)		326			(1,585	)
Net income (loss) attributable to Class A common stock	$	1,580		$	(353	)
Weighted average shares of Class A common stock outstanding—basic		17,379			17,112
Weighted average potential shares of Class A common stock		1,067			—
Weighted average shares of Class A common stock and potential common shares outstanding—diluted		18,446			17,112
Basic net income (loss) per Class A common share	$	0.09		$	(0.02	)
Diluted net income (loss) per Class A common share	$	0.09		$	(0.02	)
Net income (loss) per share – Class B Common Stock
Dividends declared	$	200		$	199
Allocation of undistributed net income (loss)		52			(256	)
Net income (loss) attributable to Class B common stock	$	252		$	(57	)
Weighted average shares of Class B common stock outstanding—basic		3,330			3,321
Weighted average potential shares of Class B common stock		79			—
Weighted average shares of Class B common stock and potential common shares outstanding—diluted		3,409			3,321
Basic net income (loss) per Class B common share	$	0.08		$	(0.02	)
Diluted net income (loss) per Class B common share	$	0.07		$	(0.02	)

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,
	2021		2020
	(in thousands)
Class A		2		1,845
Class B		—		150