Net Income per Share

3 Months Ended

Apr. 30, 2015

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
	April 30, 2015	April 30, 2014
Anti-dilutive options and restricted stock units	1,103,707	257,216

The computation of earnings per share is presented below:

	Three Months Ended
	April 30, 2015		April 30, 2014
Numerator:
Net income attributable to Raven Industries, Inc.	$	4,855	$	11,038
Denominator:
Weighted average common shares outstanding	38,000,775		36,425,706
Weighted average stock units outstanding	69,492		71,711
Denominator for basic calculation	38,070,267		36,497,417
Weighted average common shares outstanding	38,000,775		36,425,706
Weighted average stock units outstanding	69,492		71,711
Dilutive impact of stock options and restricted stock units	131,637		230,906
Denominator for diluted calculation	38,201,904		36,728,323
Net income per share - basic	$	0.13	$	0.30
Net income per share - diluted	$	0.13	$	0.30