Net Income per Share

9 Months Ended

Oct. 31, 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 restricted stock 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- and nine-month periods ended October 31, 2012, 368 and 398 options and restricted stock units were excluded, respectively. For the three- and nine-month periods ended October 31, 2011, zero and 272 options were excluded, respectively.

The computation of earnings per share is presented below:

	Three Months Ended				Nine Months Ended
	October 31, 2012		October 31, 2011		October 31, 2012		October 31, 2011
Numerator:
Net income attributable to Raven Industries, Inc.	$	10,859	$	11,390	$	41,448	$	39,567
Denominator:
Weighted average common shares outstanding	36,306		36,194		36,279		36,170
Weighted average stock units outstanding	57		48		54		54
Denominator for basic calculation	36,363		36,242		36,333		36,224
Weighted average common shares outstanding	36,306		36,194		36,279		36,170
Weighted average stock units outstanding	57		48		54		54
Dilutive impact of stock options and restricted stock units	167		196		207		206
Denominator for diluted calculation	36,530		36,438		36,540		36,430
Net income per share - basic	$	0.30	$	0.31	$	1.14	$	1.09
Net income per share - diluted	$	0.30	$	0.31	$	1.13	$	1.09