Discontinued operations

3 Months Ended

Jan. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Discontinued operations

Note 2 - Discontinued operations

On October 31, 2018, the Company sold all of the assets and liabilities of its subsidiary, Comnet Telecom Supply (“Comnet”), to RAP Acquisition Inc., a New Jersey corporation. Comnet was a New Jersey-based manufacturer and supplier of telecommunications and data products, including fiber optic cables, cabling technologies, custom patch cord assemblies, data center consoles, and other data center equipment. This division was one of the three subsidiaries in the Company’s Custom Cabling Manufacturing Assembly segment. For the three months ended January 31, 2018, the Company recognized pretax income of $196,000 from the discontinued operations of Comnet, and an income tax expense of $46,000. The major line items constituting the income from discontinued operations of Comnet for the three months ended January 31, 2018 are as follows (in thousands):

	January 31,
	2018
Major line items constituting pretax income from discontinued operations:
Net sales	$	2,374
Cost of sales		(1,765	)
Gross profit		609
Selling, general and administrative expense		(413	)
Pretax income from discontinued operations		196
Provision for income taxes		46
Income from discontinued operations	$	150