Stockholders' Equity (Tables)
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12 Months Ended |
Jan. 31, 2014
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Equity [Abstract] |
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Effect of Recording Stock Based Compensation |
The effect of recording stock-based compensation was as
follows:
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For the Fiscal Years Ended January 31,
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2014
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2013
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2012
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(Amounts in
thousands) |
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Stock-based compensation expense by type of award:
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Stock options
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$ |
453 |
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$ |
3,586 |
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$ |
120 |
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Restricted stock units
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1,907 |
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2,218 |
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1,265 |
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Performance-based restricted stock units
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599 |
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125 |
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1,603 |
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Total stock-based compensation
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$ |
2,959 |
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$ |
5,929 |
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$ |
2,988 |
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Fair Value of Stock Options Granted |
The fair value of stock options granted was estimated at the date
of grant using the following assumptions:
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For the Fiscal Years Ended January 31,
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2014
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2013
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2012
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Expected term (in years)
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5-7 |
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3-7 |
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4-5 |
Expected volatility (range)
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44-46% |
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49-52% |
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52% |
Weighted average volatility
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45% |
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52% |
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52% |
Risk-free interest rate
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0.7-0.9% |
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0.7-1.2% |
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0.8% |
Weighted average interest rate
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0.8% |
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1.2% |
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0.8% |
Expected dividend yield
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0% |
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0% |
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0% |
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Stock Option Activity |
The following table summarizes the stock option activity (excluding
RSUs):
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For the Fiscal Years Ended
January 31, |
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2014 |
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2013 |
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2012 |
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Shares |
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Weighted
average
exercise
price |
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Shares |
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Weighted
average
exercise
price |
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Shares |
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Weighted
average
exercise
price |
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Outstanding at beginning of period
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1,917,448 |
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$ |
10.35 |
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2,125,371 |
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$ |
11.83 |
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2,382,174 |
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$ |
12.31 |
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Granted
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12,500 |
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$ |
10.10 |
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892,500 |
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$ |
8.21 |
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250,000 |
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$ |
6.74 |
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Exercised
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(118,528 |
) |
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$ |
9.10 |
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(304,550 |
) |
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$ |
7.19 |
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(253,668 |
) |
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$ |
7.04 |
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Forfeited/expired/cancelled
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(309,244 |
) |
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$ |
13.78 |
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(795,873 |
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$ |
13.11 |
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(253,135 |
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$ |
16.11 |
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Outstanding at end of period
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1,502,176 |
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$ |
9.77 |
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1,917,448 |
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$ |
10.35 |
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2,125,371 |
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$ |
11.83 |
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Options exercisable at end of period
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1,440,521 |
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$ |
9.90 |
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937,444 |
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$ |
12.78 |
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1,878,707 |
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$ |
12.51 |
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Weighted average remaining contractual term (in years)
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3.93 |
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1.86 |
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2.10 |
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Summary of Information about Employee and Director Stock Options Outstanding and Exercisable |
The following table summarizes information about employee and
director stock options outstanding and exercisable as of
January 31, 2014:
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Options Outstanding |
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Options Exercisable |
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Number
outstanding |
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Weighted
average
remaining
contractual
terms
(years) |
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Weighted
average
exercise
price |
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Number
exercisable |
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Weighted
average
exercise
price |
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Range of exercise prices
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$6.74 to $6.74
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224,421 |
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4.96 |
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$ |
6.74 |
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166,099 |
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$ |
6.74 |
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$7.00 to $8.15
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11,500 |
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3.16 |
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$ |
7.69 |
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8,167 |
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$ |
7.69 |
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$8.22 to $8.22
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875,000 |
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5.24 |
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$ |
8.22 |
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875,000 |
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$ |
8.22 |
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$11.56 to $14.47
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193,980 |
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0.45 |
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$ |
13.29 |
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193,980 |
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$ |
13.29 |
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$15.52 to $15.84
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84,313 |
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0.10 |
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$ |
15.62 |
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84,313 |
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$ |
15.62 |
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$16.04 to $16.04
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2,500 |
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0.66 |
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$ |
16.04 |
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2,500 |
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$ |
16.04 |
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$16.56 to $16.56
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5,000 |
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1.01 |
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$ |
16.56 |
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5,000 |
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$ |
16.56 |
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$17.26 to $17.26
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5,000 |
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0.95 |
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$ |
17.26 |
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5,000 |
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$ |
17.26 |
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$17.39 to $17.39
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89,462 |
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0.75 |
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$ |
17.39 |
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89,462 |
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$ |
17.39 |
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$19.98 to $19.98
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11,000 |
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1.64 |
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$ |
19.98 |
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11,000 |
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$ |
19.98 |
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1,502,176 |
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3.93 |
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$ |
9.77 |
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1,440,521 |
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$ |
9.90 |
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Summary of the RSU Activity |
The following table summarizes the RSU activity:
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For the Fiscal Years Ended
January 31, |
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2014 |
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|
2013 |
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2012 |
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Shares |
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Weighted
average
grant date
fair value
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Shares |
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Weighted
average
grant date
fair value
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Shares |
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Weighted
average
grant date
fair value
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Nonvested at beginning of period
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552,980 |
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$ |
10.51 |
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721,365 |
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$ |
10.46 |
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363,078 |
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$ |
8.00 |
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Awarded
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146,411 |
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$ |
11.15 |
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375,317 |
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$ |
8.62 |
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855,143 |
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$ |
10.10 |
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Vested
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(205,928 |
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$ |
12.61 |
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(348,346 |
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$ |
8.73 |
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(381,955 |
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$ |
7.53 |
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Forfeited/expired/cancelled
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(46,995 |
) |
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$ |
9.93 |
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(195,356 |
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$ |
9.87 |
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(114,901 |
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$ |
9.73 |
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Nonvested at end of period
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446,468 |
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$ |
9.81 |
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552,980 |
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$ |
10.51 |
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721,365 |
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$ |
10.46 |
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