Note 6 - Earnings (Loss) Per Share

6 Months Ended

Apr. 30, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

Note

6

–

Earnings

(loss)

per share

Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding increased by the effects of assuming that other potentially dilutive securities (such as stock options) outstanding during the period had been exercised and the treasury stock method had been applied. Potentially issuable securities totaling

392,838

and

121,015

shares for the

three

months ended

April 30, 2020

and

2019,

respectively, and

392,838

and

121,015

shares for the

six

months ended

April 30, 2020

and

2019,

respectively, were excluded from the calculation of diluted per share amounts because of their anti-dilutive effect.

The following table summarizes the computation of basic and diluted weighted average shares outstanding:

	Three Months Ended April 30,				Six Months Ended April 30,
	2020		2019		2020		2019
Weighted average shares outstanding for basic (loss) earnings per share		9,704,880		9,356,660		9,633,935		9,332,665
Add effects of potentially dilutive securities-assumed exercise of stock options		-		481,304		-		505,053
Weighted average shares outstanding for diluted (loss) earnings per share		9,704,880		9,837,964		9,633,935		9,837,718