Stock options (Tables)

12 Months Ended

Oct. 31, 2014

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Computation of Weighted Average Fair Value of Employee Stock Options using Black-Scholes Option Pricing Model Assumptions

The fair value of each option granted in 2014 and 2013 was estimated on the grant date using the Black-Scholes option pricing model with the following assumptions:

	2014			2013
Weighted average volatility		54.4	%		42.9	%
Expected dividends		4.8	%		4.2	%
Expected term (in years)		5.6			3.5
Risk-free interest rate		1.31	%		0.36	%
Weighted average fair value of options granted during the year	$	1.83		$	1.12
Weighted average fair value of options vested during the year	$	4.24		$	1.06

Summary of Status of Options Granted under Stock Option Plans and Changes in Options Outstanding

Additional information regarding all of the Company's outstanding stock options at October 31, 2014 and 2013 and changes in outstanding stock options in 2014 and 2013 follows:

		2014			2013
	Shares or		Weighted		Shares or		Weighted
	Price Per		Average		Price Per		Average
	Share		Exercise Price		Share		Exercise Price
Options outstanding at beginning of year		988,215	$	2.24		2,004,781	$	2.25
Options granted		328,903	$	5.83		176,267	$	4.80
Options exercised		(204,683)	$	2.80		(1,096,750)	$	2.52
Options forfeited		(67,503)	$	2.10		(96,083)	$	4.01
Options outstanding at end of year		1,044,932	$	3.27		988,215	$	2.24
Options exercisable at end of year		748,843	$	2.38		743,169	$	1.96
Options vested and expected to vest at end of year		1,040,541	$	3.25		972,015	$	2.21
Option price range at end of year		$0.05 - $6.91				$0.05 - $6.42
Aggregate intrinsic value of options exercised during year	$	1,103,000			$	4,137,000