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EARNINGS PER SHARE
 3 Months Ended
Jan. 31, 2017
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
4.
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 per share is determined using net income 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
 
 
 
January 31,
 
 
 
2017
 
2016
 
 
 
Basic
 
Diluted
 
Basic
 
Diluted
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
879
 
$
879
 
$
3,895
 
$
3,895
 
Undistributed earnings allocated to participating shares
 
 
(5)
 
 
(5)
 
 
(22)
 
 
(22)
 
Net income applicable to common shareholders
 
$
874
 
$
874
 
$
3,873
 
$
3,873
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average shares outstanding
 
 
6,583
 
 
6,583
 
 
6,558
 
 
6,558
 
Stock options and contingently issuable securities
 
 
—
 
 
85
 
 
—
 
 
65
 
 
 
 
6,583
 
 
6,668
 
 
6,558
 
 
6,623
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income per share
 
$
0.13
 
$
0.13
 
$
0.59
 
$
0.58