Net Income per Share

12 Months Ended

Jan. 31, 2020


NOTE 15			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 calculation were as follows:


	For the years ended January 31,
	2020	2019	2018
Anti-dilutive options and restricted stock units	29,876	54,631	344,774

The computation of earnings per share is presented below:


	For the years ended January 31,
	2020		2019		2018
Numerator:
Net income attributable to Raven Industries, Inc.	$	35,196	$	51,794	$	41,022

Denominator:
Weighted average common shares outstanding	35,861,255		35,907,041		35,945,225
Weighted average stock units outstanding	122,792		99,922		104,980
Denominator for basic calculation	35,984,047		36,006,963		36,050,205

Weighted average common shares outstanding	35,861,255		35,907,041		35,945,225
Weighted average stock units outstanding	122,792		99,922		104,980
Dilutive impact of stock options and RSUs	231,708		431,595		399,620
Denominator for diluted calculation	36,215,755		36,438,558		36,449,825

Net income per share - basic	$	0.98	$	1.44	$	1.14
Net income per share - diluted	$	0.97	$	1.42	$	1.13