Net Income per Share

3 Months Ended

Apr. 30, 2012

Net Income Per Share [Abstract]

Net Income per Share

NET INCOME PER SHARE

Basic net income per share is computed by dividing net income by the weighted-average common shares and stock units outstanding. Diluted net income per share is computed by dividing net income by the weighted-average common and common equivalent shares outstanding (which includes the shares issuable upon exercise of employee stock options, net of shares assumed purchased with the option proceeds), stock units and restricted stock units outstanding. Performance share awards are included in the diluted calculation based upon what would be issued if the end of the most recent reporting period was the end of the term of the award.

Certain outstanding options and units were excluded from the diluted net income per-share calculations because their effect would have been anti-dilutive under the treasury stock method. For the three-month periods ended April 30, 2012 and April 30, 2011, 169 and 136 shares and units were excluded, respectively.

Details of the computation are presented below:

	Three Months Ended
	April 30, 2012		April 30, 2011
Numerator:
Net income attributable to Raven Industries, Inc.	$	19,043	$	15,716
Denominator:
Weighted average common shares outstanding	18,122		18,075
Weighted average stock units outstanding	25		27
Denominator for basic calculation	18,147		18,102
Weighted average common shares outstanding	18,122		18,075
Weighted average stock units outstanding	25		27
Dilutive impact of stock options and restricted units	114		110
Denominator for diluted calculation	18,261		18,212
Net income per share - basic	$	1.05	$	0.87
Net income per share - diluted	$	1.04	$	0.86