Stock Option Plans

6 Months Ended

Jul. 31, 2011

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Note 10. Stock Option Plans

          The Company has stock-based compensation plans under which stock options have been granted to directors, officers and key employees at the market price on the date of the grant.

          The total intrinsic value of options exercised during the six months ended July 31, 2011 and 2010 was approximately $3.1 million and $0.5 million, respectively, resulting in tax deductions to realize benefits of approximately $0.6 million and $0.2 million, respectively. The following table summarizes options granted, exercised and canceled or expired during the six months ended July 31, 2011:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at January 31, 2011		725,903		$	10.16
Exercised		(436,680	)	$	8.11
Outstanding and exercisable at July 31, 2011		289,223		$	13.26		2.0	$	1,148

          Certain officers and directors of the Company tendered 201,225 shares of the Company’s common stock as payment of the exercise price of stock options exercised pursuant to the Company’s Stock-for-Stock and Cashless Option Exercise Rules and Procedures, adopted on June 4, 2001. The purchase price was $15.83 per share.

          At July 31, 2011, there was no unrecognized compensation cost related to nonvested stock options.