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Business and Credit Concentrations
12 Months Ended
Oct. 31, 2017
Risks and Uncertainties [Abstract]  
Business and Credit Concentrations

(10) Business and Credit Concentrations

 

Export sales were approximately 19% and 8% of net sales for the years ended October 31, 2017 and 2016, respectively. The principal international markets served by the Company, include Canada, China, Mexico, United Kingdom, India, Korea, Japan, Russia, Saudi Arabia, Singapore, and Brazil. In fiscal 2017, three customers accounted for 17.9%, 11.4% and 8.0% of net sales, respectively, while in fiscal 2016, three customers accounted for 18.2%, 14.7% and 4.8% of net sales, respectively. Three customers accounted for 57.8%, 14.3%, and 6.6% respectively, of the Company’s accounts receivable at October 31, 2017 and three customers accounted for 21.1%, 16.3%, and 11.5%, respectively, of the Company accounts receivable at October 31, 2016.

 

The Company had cash deposits in banks of $4,041,767 above the FDIC insured limit of $250,000 per bank at October 31, 2017.