Business activities and summary of significant accounting policies (Tables)

12 Months Ended

Oct. 31, 2018

Accounting Policies [Abstract]

Schedule of Fair Value, Assets and Liabilities

The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of October 31, 2018 (in thousands):

Description	Level 1		Level 2		Level 3
Earn-out liability	$	-	$	-	$	-

The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of October 31, 2017 (in thousands):

Description	Level 1		Level 2		Level 3
Earn-out liability	$	-	$	-	$	236

Fair Value, Liabilities Measured on Recurring Basis

The following table summarizes the Level 3 transactions for the years ended October 31, 2018 and 2017 (in thousands):

	Level 3
	2018			2017
Beginning balance	$	236		$	835
Payments		(210	)		(578	)
Change in value		(26	)		(21	)
Ending Balance	$	-		$	236

Components of Intangible Assets

Intangible assets consist of the following as of October 31, 2018 and 2017 (in thousands): 

	2018			2017
Amortizable intangible assets:
Customer relationships (estimated lives 7 - 15 years)	$	2,879		$	2,879
Accumulated amortization		(1,619	)		(1,354	)
		1,260			1,525
Patents (estimated life 14 years)		142			142
Accumulated amortization		(35	)		(25	)
		107			117
Totals	$	1,367		$	1,642
Non-amortizable intangible assets:
Trademarks	$	657		$	657

Estimated Amortization Expense Related To Finite Lived Intangible Assets

Estimated amortization expense related to finite lived intangible assets is as follows (in thousands):

Year ending
October 31,	Amount
2019	$	275
2020		275
2021		136
2022		89
2023		79
Thereafter		513
Total	$	1,367

Calculation of Basic And Diluted Earnings Per Share

The following table summarizes the computation of basic and diluted earnings per share:

	2018		2017
Numerators:
Consolidated net income (A)	$	5,846,000	$	382,000
Denominators:
Weighted average shares outstanding for basic earnings per share (B)		9,105,406		8,840,895
Add effects of potentially dilutive securities - assumed exercise of stock options		487,660		74,869
Weighted average shares outstanding for diluted earnings per share (C)		9,593,066		8,915,764
Basic earnings per share (A)/(B)	$	0.64	$	0.04
Diluted earnings per share (A)/(C)	$	0.61	$	0.04