Net Income per Share

6 Months Ended

Jul. 31, 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.

The options and restricted stock units excluded from the diluted net income per-share share calculation were as follows:

	Three Months Ended		Six Months Ended
	July 31, 2013	July 31, 2012	July 31, 2013	July 31, 2012
Anti-dilutive options and restricted stock units	674,094	393,333	628,747	352,467

The computation of earnings per share is presented below:

	Three Months Ended				Six Months Ended
	July 31, 2013		July 31, 2012		July 31, 2013		July 31, 2012
Numerator:
Net income attributable to Raven Industries, Inc.	$	8,333	$	11,546	$	22,336	$	30,589
Denominator:
Weighted average common shares outstanding	36,375,172		36,286,300		36,355,522		36,265,479
Weighted average stock units outstanding	70,956		56,623		64,105		52,896
Denominator for basic calculation	36,446,128		36,342,923		36,419,627		36,318,375
Weighted average common shares outstanding	36,375,172		36,286,300		36,355,522		36,265,479
Weighted average stock units outstanding	70,956		56,623		64,105		52,896
Dilutive impact of stock options and restricted stock units	164,079		222,068		180,736		226,296
Denominator for diluted calculation	36,610,207		36,564,991		36,600,363		36,544,671
Net income per share - basic	$	0.23	$	0.32	$	0.61	$	0.84
Net income per share - diluted	$	0.23	$	0.32	$	0.61	$	0.84