Net Income per Share

6 Months Ended

Jul. 31, 2014

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, 2014	July 31, 2013	July 31, 2014	July 31, 2013
Anti-dilutive options and restricted stock units	623,658	674,094	502,950	628,747

The computation of earnings per share is presented below:

	Three Months Ended				Six Months Ended
	July 31, 2014		July 31, 2013		July 31, 2014		July 31, 2013
Numerator:
Net income attributable to Raven Industries, Inc.	$	7,719	$	8,333	$	18,757	$	22,336
Denominator:
Weighted average common shares outstanding	36,462,600		36,375,172		36,444,153		36,355,522
Weighted average stock units outstanding	68,414		70,956		70,063		64,105
Denominator for basic calculation	36,531,014		36,446,128		36,514,216		36,419,627
Weighted average common shares outstanding	36,462,600		36,375,172		36,444,153		36,355,522
Weighted average stock units outstanding	68,414		70,956		70,063		64,105
Dilutive impact of stock options and restricted stock units	203,703		164,079		213,502		180,736
Denominator for diluted calculation	36,734,717		36,610,207		36,727,718		36,600,363
Net income per share - basic	$	0.21	$	0.23	$	0.51	$	0.61
Net income per share - diluted	$	0.21	$	0.23	$	0.51	$	0.61