12. Earnings Per Share

6 Months Ended

Jul. 31, 2016

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

12.        Earnings Per Share

We refer you to the discussion of Earnings Per Share in Note 1-Summary of Significant Accounting Policies, in the financial statements included in our 2016 Annual Report, for additional information concerning the calculation of earnings per share.

We have issued restricted stock awards to non-employee members of the board of directors since 2006 and restricted stock units (RSUs) to certain senior executives since fiscal 2012 under the Company’s Stock Incentive Plan. Each RSU entitles an executive to receive one share of the Company’s common stock if the executive remains continuously employed with the Company through the end of a three-year service period. The RSUs may be paid in shares of our common stock, cash or both at the discretion of the Compensation Committee of our board of directors. We expect to continue to grant these types of awards annually in the future. The following table sets forth the number of outstanding restricted stock awards and RSUs, net of forfeitures and vested shares, as of the fiscal period-end dates indicated:

	July 31,		January 31,
	2016		2016
Restricted shares		26		25
Restricted stock units		20		13
		46		38

All restricted shares and RSUs awarded that have not yet vested are considered when computing diluted earnings per share. The following table sets forth the computation of basic and diluted earnings per share:

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	July 31,		August 2,		July 31,		August 2,
	2016		2015		2016		2015
Net income	$	5,349	$	3,938	$	7,848	$	7,410
Less: Unvested participating restricted stock dividends		3		3		5		3
Net earnings allocated to unvested participating restricted stock		12		10		18		10
Earnings available for common shareholders		5,334		3,925		7,825		7,397
Weighted average shares outstanding for basic earnings per share		11,533		10,783		11,524		10,770
Dilutive effect of unvested restricted stock and RSU awards		21		23		24		26
Weighted average shares outstanding for diluted earnings per share		11,554		10,806		11,548		10,796
Basic earnings per share	$	0.46	$	0.36	$	0.68	$	0.69
Diluted earnings per share	$	0.46	$	0.36	$	0.68	$	0.69

The increase in the number of shares is primarily due to the issuance of 716,910 shares of our common stock as a result of the Home Meridian acquisition on February 1, 2016.