Note 7 - Income Taxes

3 Months Ended

Jan. 31, 2013

Income Tax Disclosure [Text Block]

7. INCOME TAXES

Our effective income tax rate from continuing operations for the three months ended January 31, 2013 and 2012 was 25.4% and 30.1%, respectively. The lower current effective income tax rate is primarily attributable to the mix of forecasted domestic and foreign income for the year. The current quarter effective tax rate also includes a discrete tax benefit recorded for the reinstatement of the U.S. Federal R&D Tax Credit as a result of the American Taxpayer Relief Act, enacted on January 2, 2013. Our effective income tax rate may fluctuate due to changes in the amount and mix of domestic and foreign income, changes in tax legislation, changes in valuation allowances and changes in assessments of uncertain tax positions, as well as accumulated interest and penalties.