Net Income per Share

9 Months Ended

Oct. 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		Nine Months Ended
	October 31, 2014	October 31, 2013	October 31, 2014	October 31, 2013
Anti-dilutive options and restricted stock units	846,205	594,200	574,631	573,033

The computation of earnings per share is presented below:

	Three Months Ended				Nine Months Ended
	October 31, 2014		October 31, 2013		October 31, 2014		October 31, 2013
Numerator:
Net income attributable to Raven Industries, Inc.	$	6,783	$	12,289	$	25,540	$	34,625
Denominator:
Weighted average common shares outstanding	36,499,018		36,391,195		36,462,441		36,367,412
Weighted average stock units outstanding	68,721		71,220		69,616		66,477
Denominator for basic calculation	36,567,739		36,462,415		36,532,057		36,433,889
Weighted average common shares outstanding	36,499,018		36,391,195		36,462,441		36,367,412
Weighted average stock units outstanding	68,721		71,220		69,616		66,477
Dilutive impact of stock options and restricted stock units	165,504		186,305		188,713		179,741
Denominator for diluted calculation	36,733,243		36,648,720		36,720,770		36,613,630
Net income per share - basic	$	0.19	$	0.34	$	0.70	$	0.95
Net income per share - diluted	$	0.18	$	0.34	$	0.70	$	0.95