Discontinued Operations and Assets Held for Sale (Tables)

12 Months Ended

Oct. 31, 2014

Discontinued Operations and Assets Held for Sale [Abstract]

Schedule of financial information discontinued operation

The following is selected financial information included in net earnings (loss) from discontinued operations for three divisions classified within the printing segment and the Herald-Dispatch previously classified within the newspaper segment until the sale of this segment and reflects interest on estimated debt required to be repaid as a result of these disposal transactions and excludes any general corporate overhead allocations. The interest expense allocated to discontinued operations for the year ended October 31, 2014, 2013, and 2012, was approximately $0, $615,000, and $837,000. The Company had no discontinued operations for the year ended October 31, 2014. 

	Twelve Months Ended October 31,
		2014
		Printing		Herald-Dispatch		Total
Net sales	$	-	$	-	$	-
(Loss) earnings from discontinued operations		-		-		-
Income tax benefit (expense)		-		-		-
Gain (loss) on sale of discontinued operations		-		-		-
Income tax (expense) benefit on sale		-		-		-
Net earnings (loss) from discontinued operations		-		-		-

	Twelve Months Ended October 31,
		2013
		Printing		Herald-Dispatch		Total
Net sales	$	2,190,236	$	8,954,004	$	11,144,240
(Loss) earnings from discontinued operations		(746,581	)	491,367		(255,214	)
Income tax benefit (expense)		250,670		(184,608	)	66.062
(Loss) gain on sale of discontinued operations		(103,802	)	547,106		443.304
Income tax benefit (expense) on sale		34,338		(205,548	)	(171,210	)
Net (loss) earnings  from discontinued operations		(565,375	)	648,317		82,942

	Twelve Months Ended October 31,
		2012
		Printing		Herald-Dispatch		Total
Net sales	$	19,118,500	$	13,991,752	$	33,110,252
(Loss) from discontinued operations		(700,817	)	(9,579,038	)	(10,279,855	)
Income tax benefit (expense)		-		-
Gain on sale of discontinued operations		1,567,231		-		1,567,231
Income tax on sale (expense)		-		-		-
Net earnings (loss) from discontinued operations		866,414		(9,579,038	)	(8,712,624	)

The major classes of assets and liabilities held for sale and of discontinued operations included in the Consolidated Balance Sheets are as follows:

		Held for sale		Discontinued Operations		Total		Held for sale		Discontinued Operations		Total
		October 31, 2014						October 31, 2013
Assets:
Accounts Receivable	$	-	$	-	$	-	$	-	$	124,231	$	124,231
Inventories		-		-		-		-		-		-
Other current assets		-		-		-		-		-		-
Property and equipment, net		256,832		-		256,832		369,073		-		369,073
Other Assets		-		-		-		-		-		-
Total current assets		256,832		-		256,832		369,073		124,231		493,304
Property and equipment, net		-		-		-		-		-		-
Other assets		-		-		-		-		-		-
Total non-current assets		-		-		-		-		-		-
Total assets held for sale/discontinued operations	$	256,832	$	-	$	256,832	$	369,073	$	124,231	$	493,304
Liabilities:
Accounts payable	$	-	$	-	$	-	$	-	$	-	$	-
Deferred revenue		-		-		-		-		-		-
Accrued payroll and commissions		-		-		-		-		-		-
Taxes accrued and withheld		-		-		-		-		315		315
Accrued expenses		-		-		-		-		-		-
Debt (see Note 3)		-		-		-		-		-		-
Total current liabilities		-		-		-		-		315		315
Total non-current liabilities debt		-		-		-		369,073		123,916		492,989
Total liabilities held for sale/discontinued operations	$	-	$	-	$	-	$	369,073	$	124,231	$	493,304