3. SELECTED FINANCIAL STATEMENT INFORMATION

Accounts Receivable

	April 30, 2011			October 31, 2010
Accounts receivable	$	102,970,000		$	94,283,000
Less: Allowance for doubtful accounts		(2,401,000	)		(2,468,000	)
Accounts receivable, net	$	100,569,000		$	91,815,000

Costs and Estimated Earnings on Uncompleted Percentage-of-Completion Contracts

	April 30, 2011			October 31, 2010
Costs incurred on uncompleted contracts	$	5,972,000		$	6,323,000
Estimated earnings		5,846,000			7,603,000
		11,818,000			13,926,000
Less: Billings to date		(7,699,000	)		(8,967,000	)
	$	4,119,000		$	4,959,000
Included in the accompanying Condensed Consolidated
Balance Sheets under the following captions:
Accounts receivable, net (costs and estimated earnings in excess of billings)	$	4,119,000		$	5,135,000
Accrued expenses and other current liabilities
(billings in excess of costs and estimated earnings)		—			(176,000	)
	$	4,119,000		$	4,959,000

The percentage of the Company’s net sales recognized under the percentage-of-completion method was not material for the six months ended April 30, 2011 and 2010. Changes in estimates pertaining to percentage-of-completion contracts did not have a material effect on net income from consolidated operations for the six months ended April 30, 2011 and 2010.

Inventories

	April 30, 2011		October 31, 2010
Finished products	$	82,601,000	$	72,263,000
Work in process		23,171,000		19,034,000
Materials, parts, assemblies and supplies		47,904,000		46,918,000
Inventories, net of valuation reserves	$	153,676,000	$	138,215,000

Inventories related to long-term contracts were not significant as of April 30, 2011 and October 31, 2010.

Property, Plant and Equipment

	April 30, 2011			October 31, 2010
Land	$	3,656,000		$	3,656,000
Buildings and improvements		39,480,000			38,772,000
Machinery, equipment and tooling		88,687,000			85,095,000
Construction in progress		5,657,000			6,319,000
		137,480,000			133,842,000
Less: Accumulated depreciation and amortization		(79,721,000	)		(74,839,000	)
Property, plant and equipment, net	$	57,759,000		$	59,003,000

Accrued Customer Rebates and Credits

The aggregate amount of accrued customer rebates and credits included within accrued expenses and other current liabilities in the accompanying Condensed Consolidated Balance Sheets was $5,737,000 and $9,230,000 as of April 30, 2011 and October 31, 2010, respectively. The total customer rebates and credits deducted within net sales for the six months ended April 30, 2011 and 2010 was $4,416,000 and $4,398,000, respectively. The total customer rebates and credits deducted within net sales for the three months ended April 30, 2011 and 2010 was $1,836,000 and $2,019,000, respectively.