Share Repurchase Program

9 Months Ended

Oct. 31, 2011

Share Repurchase Program [Abstract]

Share Repurchase Program

Note 8 — Share Repurchase Program

In September 2011, the Company’s board of directors authorized a program to repurchase up to two million shares of it’s common stock. The timing and actual number of shares repurchased will depend upon a number of factors, including market conditions and prevailing stock prices. Share repurchases may take place on the open market, in privately negotiated transactions or by other means, and would be made in accordance with applicable securities laws. Pursuant to the share repurchase program, during the quarter ended October 31, 2011, the Company repurchased 125,000 shares of our common stock for an aggregate purchase price of approximately $2.9 million. Repurchased shares are accounted for as treasury stock at cost and will be held in treasury for future use.