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SHARE-BASED COMPENSATION (Tables) | 12 Months Ended
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Oct. 31, 2024
SHARE-BASED COMPENSATION [Abstract] |
Share-based Compensation Expenses | The table below presents information on the Company’s share-based compensation expenses for the three most recent fiscal years.
|  | Year Ended |
|  | October 31, 2024 |  |  | October 31, 2023 |  |  | October 31, 2022 |
Expense reported in: |  |  |  |  |  |  |  |  |
Cost of goods sold |  | $ | 2,704 |  |  | $ | 1,259 |  |  | $ | 868 |
Selling, general, and administrative |  |  | 10,124 |  |  |  | 5,962 |  |  |  | 4,803 |
Research and development |  |  | 1,062 |  |  |  | 780 |  |  |  | 637 |
Total expense incurred |  | $ | 13,890 |  |  | $ | 8,001 |  |  | $ | 6,308 |
Expense by award type: |  |  |  |  |  |  |  |  |  |  |  |
Restricted stock awards * |  | $ | 13,868 |  |  | $ | 7,909 |  |  | $ | 5,800 |
Stock options |  |  | - |  |  |  | 1 |  |  |  | 298 |
Employee stock purchase plan |  |  | 22 |  |  |  | 91 |  |  |  | 210 |
Total expense incurred |  | $ | 13,890 |  |  | $ | 8,001 |  |  | $ | 6,308 |
Income tax benefits of share-based compensation |  | $ | 1,156 |  |  | $ | 715 |  |  | $ | 449 |
* During the year ended October 31, 2024, upon the departure of two executives from the Company and in accordance with the terms of their separation agreements, previously granted time-vesting restricted stock awards accelerated vesting. The Company accounted for the effects of the accelerated vesting of these stock awards as a modification, and recognized $1.2 million of incremental stock-based compensation for the acceleration of restricted stock awards, within selling, general and administrative expenses on the Consolidated Statements of Income for the year ended October 31, 2024.
Restricted Stock Awards Activity | A summary of restricted stock award activity during 2024 and the status of the Company’s restricted stock awards as of October 31, 2024, is presented below.
Restricted Stock |  | Shares |  |  | Weighted-Average Fair Value at Grant Date |
Outstanding at October 31, 2023 |  |  | 1,238,297 |  |  | $ | 16.27 |
Granted |  |  | 865,050 |  |  |  | 29.50 |
Vested |  |  | (550,069 | ) |  |  | 17.74 |
Cancelled |  |  | (129,676 | ) |  |  | 21.90 |
Outstanding at October 31, 2024 |  |  | 1,423,602 |  |  |  | 23.23 |
Expected to vest as of October 31, 2024 |  |  | 1,292,883 |  |  |  | 23.14 |
Additional Information on Restricted Stock Awards | The table below presents additional information on the Company’s restricted stock awards for the three most recent fiscal years.
|  | Year Ended |
|  | October 31, 2024 |  |  | October 31, 2023 |  |  | October 31, 2022 |
Number of shares granted |  |  | 865,050 |  |  |  | 791,925 |  |  |  | 654,224 |
Weighted-average grant-date fair value of awards (in dollars per share) |  | $ | 29.50 |  |  | $ | 16.84 |  |  | $ | 18.73 |
Compensation costs not yet recognized |  | $ | 21,303 |  |  | $ | 12,760 |  |  | $ | 8,949 |
Weighted-average amortization period (in years) |  |  | 2.8 |  |  |  | 2.8 |  |  |  | 2.7 |
Fair value of awards for which restrictions lapsed |  | $ | 9,755 |  |  | $ | 6,256 |  |  | $ | 5,212 |
Shares outstanding at balance sheet date |  |  | 1,423,602 |  |  |  | 1,238,297 |  |  |  | 893,704 |
Stock Options Activity | The table below presents a summary of stock options activity during 2024 and information on stock options outstanding at October 31, 2024.
|  | Shares |  |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Life |  | Aggregate Intrinsic Value |
Outstanding at October 31, 2023 |  |  | 472,275 |  |  | $ | 10.18 |  |  |  |  |
Granted |  |  | - |  |  | $ | - |  |  |  |  |
Exercised |  |  | (191,650 | ) |  | $ | 9.86 |  |  |  |  |
Cancellations, forfeitures, and adjustments |  |  | (3,000 | ) |  | $ | 10.43 |  |  |  |  |
Outstanding at October 31, 2024 |  |  | 277,625 |  |  | $ | 10.39 |  | 1.94 years |  | $ | 3,445 |
Exercisable at October 31, 2024 |  |  | 277,625 |  |  | $ | 10.39 |  | 1.94 years |  | $ | 3,445 |
Expected to vest as of October 31, 2024 |  |  | - |  |  | $ | - |  | - years |  | $ | - |
Additional Information on Stock Option Awards | The table below presents additional information on stock option awards for the three most recent fiscal years.
|  | Year Ended |
|  | October 31, 2024 |  |  | October 31, 2023 |  |  | October 31, 2022 |
Number of options granted in period |  |  | - |  |  |  | - |  |  |  | - |
Total intrinsic value of options exercised |  | $ | 2,981 |  |  | $ | 1,654 |  |  | $ | 5,108 |
Cash received from option exercises |  | $ | 1,888 |  |  | $ | 1,101 |  |  | $ | 5,275 |
Compensation cost not yet recognized |  | $ | - |  |  | $ | - |  |  | $ | 13 |
Weighted-average amortization period for cost not yet recognized (in years) |  |  | - |  |  |  | - |  |  |  | 0.2 |

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