Earnings per Share

6 Months Ended

Jul. 31, 2011

Earnings Per Share [Abstract]

Earnings per Share

11. Earnings per Share

     Net income per basic common share is computed using the weighted average number of common shares outstanding during the period, excluding unvested restricted stock. Net income per diluted common share is computed using the weighted average number of common shares and dilutive potential common shares outstanding during the period using the treasury stock method. Potential common shares result from the assumed exercise of outstanding common stock options having a dilutive effect, and from the assumed vesting of unvested shares of restricted stock. The following table presents the calculation of basic and diluted weighted average common shares used in the earnings per share calculation for the three and six months ended July 31, 2011 and 2010:

	Three Months Ended				For the Six Months
	July 31,				Ended July 31,
	2011		2010		2011		2010
	(in thousands)				(in thousands)
Basic weighted average common shares outstanding		10,970		9,838		10,447		9,824
Stock options		629		239		578		256
Unvested restricted stock		16		3		18		1
Total weighted average common share equivalents		645		242		596		257
Diluted weighted average common shares outstanding		11,615		10,080		11,043		10,081

     For the three months ended July 31, 2010, diluted weighted average common shares were anti-dilutive and were therefore not considered in calculating diluted loss per share for that period.