Stockholders' Equity (Tables)
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12 Months Ended |
Jan. 31, 2016 |
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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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2016
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2015
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2014
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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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$ |
1,257 |
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$ |
1,036 |
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$ |
453 |
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Restricted stock units
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1,203 |
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1,607 |
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1,907 |
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Deferred stock units
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607 |
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500 |
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— |
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Performance-based restricted stock units
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475 |
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77 |
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599 |
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Employee stock purchase plan
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10 |
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— |
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— |
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Total stock-based compensation
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$ |
3,552 |
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$ |
3,220 |
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$ |
2,959 |
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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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2016
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2015
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2014
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Expected term (in years)
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6-7 |
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6.5 |
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5-7 |
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Expected volatility (range)
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40-45% |
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46% |
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44-46% |
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Weighted average volatility
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42% |
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46% |
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45% |
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Risk-free interest rate
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1.5-2.0% |
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1.7% |
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0.7-0.9% |
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Weighted average interest rate
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1.6% |
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1.7% |
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0.8% |
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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:
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For the Fiscal Years Ended
January 31, |
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2016 |
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2015 |
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2014 |
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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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1,626,421 |
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$ |
7.77 |
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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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Granted
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612,678 |
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$ |
6.44 |
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500,000 |
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$ |
7.23 |
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12,500 |
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$ |
10.10 |
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Exercised
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(28,740 |
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$ |
6.74 |
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— |
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$ |
— |
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(118,528 |
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$ |
9.10 |
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Forfeited/expired/cancelled
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(1,017,682 |
) |
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$ |
8.13 |
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(375,755 |
) |
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$ |
15.06 |
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(309,244 |
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$ |
13.78 |
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Outstanding at end of period
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1,192,677 |
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$ |
6.80 |
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1,626,421 |
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$ |
7.77 |
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1,502,176 |
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$ |
9.77 |
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Options exercisable at end of period
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80,000 |
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$ |
6.83 |
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1,108,115 |
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$ |
8.02 |
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1,440,521 |
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$ |
9.90 |
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Weighted average remaining contractual term (in years)
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8.10 |
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4.72 |
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3.93 |
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| Summary of Information about Stock Options Outstanding and Exercisable |
The following table summarizes information about stock options
outstanding and exercisable as of January 31, 2016:
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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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$6.05 to $6.05
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412,677 |
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7.72 |
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$ |
6.05 |
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— |
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$ |
— |
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$6.74 to $6.74
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75,000 |
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2.96 |
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$ |
6.74 |
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75,000 |
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$ |
6.74 |
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$7.00 to $7.48
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700,000 |
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8.90 |
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$ |
7.24 |
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— |
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$ |
— |
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$8.15 to $8.15
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5,000 |
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3.42 |
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$ |
8.15 |
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5,000 |
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$ |
8.15 |
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1,192,677 |
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8.10 |
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$ |
6.80 |
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80,000 |
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$ |
6.83 |
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| Summary of Stock Unit Activity |
The following table summarizes the stock unit activity:
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For the Fiscal Years Ended
January 31, |
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2016 |
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2015 |
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2014 |
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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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435,306 |
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$ |
8.91 |
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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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Awarded
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904,344 |
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$ |
6.46 |
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314,057 |
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$ |
8.60 |
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146,411 |
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$ |
11.15 |
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Vested
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(277,373 |
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$ |
6.89 |
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(287,485 |
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$ |
9.83 |
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(205,928 |
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$ |
12.61 |
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Forfeited/expired/cancelled
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(9,232 |
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$ |
8.42 |
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(37,734 |
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$ |
10.01 |
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(46,995 |
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$ |
9.93 |
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Nonvested at end of period
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1,053,045 |
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$ |
7.34 |
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435,306 |
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$ |
8.91 |
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446,468 |
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$ |
9.81 |
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