EARNINGS PER SHARE

9 Months Ended

Jul. 31, 2020

EARNINGS PER SHARE

EARNINGS PER SHARE

6.    EARNINGS PER SHARE

Per share results have been computed based on the average number of common shares outstanding over the period in question.  The computation of basic and diluted net income (loss) per share is determined using net income (loss) applicable to common shareholders as the numerator and the number of shares outstanding as the denominator as follows (in thousands, except per share amounts):

	Three Months Ended								Nine Months Ended
	July 31,								July 31,
	2020				2019				2020				2019
	Basic		Diluted		Basic		Diluted		Basic		Diluted		Basic		Diluted
Net income (loss)	$	2,162	$	2,162	$	3,491	$	3,491	$	(2,658)	$	(2,658)	$	15,397	$	15,397
Undistributed earnings allocated to participating shares		(23)		(23)		(29)		(29)		28		28		(130)		(130)
Net income (loss) applicable to common  shareholders	$	2,139	$	2,139	$	3,462	$	3,462	$	(2,630)	$	(2,630)	$	15,267	$	15,267
Weighted average shares outstanding		6,595		6,595		6,767		6,767		6,705		6,705		6,756		6,756
Stock options and contingently issuable securities		—		9		—		46		—		—		—		59
		6,595		6,604		6,767		6,813		6,705		6,705		6,756		6,815
Income (loss) per share	$	0.32	$	0.32	$	0.51	$	0.51	$	(0.39)	$	(0.39)	$	2.26	$	2.24