Net Income per Share

3 Months Ended

Apr. 30, 2013

Earnings 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-month periods ended April 30, 2013 and April 30, 2012, 600,457 and 337,160 options and restricted stock units, respectively, were excluded from the diluted net income per-share calculation.

The computation of earnings per share is presented below:

	Three Months Ended
	April 30, 2013		April 30, 2012
Numerator:
Net income attributable to Raven Industries, Inc.	$	14,003	$	19,043
Denominator:
Weighted average common shares outstanding	36,335,870		36,244,659
Weighted average stock units outstanding	57,255		49,169
Denominator for basic calculation	36,393,125		36,293,828
Weighted average common shares outstanding	36,335,870		36,244,659
Weighted average stock units outstanding	57,255		49,169
Dilutive impact of stock options and restricted stock units	198,322		228,560
Denominator for diluted calculation	36,591,447		36,522,388
Net income per share - basic	$	0.38	$	0.52
Net income per share - diluted	$	0.38	$	0.52