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Basic and Diluted Net Income (Loss) per Share | 6 Months Ended
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Apr. 30, 2022
Earnings Per Share [Abstract] |
Basic and Diluted Net Income (Loss) per Share | Basic and Diluted Net Income (Loss) per Share Basic net income (loss) per common share is calculated using the weighted-average number of common shares outstanding during the period without consideration of the dilutive effect of conversion of preferred stock. Diluted net income (loss) per common share is calculated using the weighted-average number of common shares outstanding during the period plus the dilutive effect of unvested, restricted stock and conversion of preferred stock. The computations for basic and diluted net loss per common share are as follows (in thousands, except per share amounts):
| Three Months Ended April 30, |  | Six Months Ended April 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Basic net income (loss) per common share: |  |  |  |  |  |  |
Net income (loss) applicable to common stock | $ | 1,435 |  |  | $ | 1,807 |  |  | $ | (5,208) |  |  | $ | (2,526) |
Less: Earnings allocated to unvested, restricted stock | (15) |  |  | (17) |  |  | (29) |  |  | (35) |
Numerator: Net income (loss) for basic EPS | 1,420 |  |  | 1,790 |  |  | (5,237) |  |  | (2,561) |
Denominator: Weighted average common shares-basic | 17,511 |  |  | 17,461 |  |  | 17,461 |  |  | 17,429 |
Basic net income (loss) per common share | $ | 0.08 |  |  | $ | 0.10 |  |  | $ | (0.30) |  |  | $ | (0.15) |
Diluted net income (loss) per common share: |  |  |  |  |  |  |
Net income (loss) for basic EPS | $ | 1,420 |  |  | $ | 1,790 |  |  | $ | (5,237) |  |  | $ | (2,561) |
Effect of dilutive unvested, restricted stock and preferred stock | $ | — |  |  | $ | — |  |  | — |  |  | — |
Numerator: Net income (loss) for diluted EPS | $ | 1,420 |  |  | $ | 1,790 |  |  | (5,237) |  |  | (2,561) |
Weighted average common shares–basic | 17,511 |  |  | 17,461 |  |  | 17,461 |  |  | 17,429 |
Effect of dilutive unvested, restricted stock and preferred stock | — |  |  | — |  |  | — |  |  | — |
Denominator: Weighted average common shares–diluted | 17,511 |  |  | 17,461 |  |  | 17,461 |  |  | 17,429 |
Diluted net income (loss) per common share | $ | 0.08 |  |  | $ | 0.10 |  |  | $ | (0.30) |  |  | $ | (0.15) |
Diluted net income (loss) per common share is computed using the more dilutive method of either the two-class method or the treasury stock method. Unvested stock-based compensation awards that contain non-forfeitable rights to dividends as participating shares are included in computing earnings per share. The Company’s unvested, restricted stock awards qualify as participating shares. Diluted net loss per common share was calculated under the two-class method for the three and six months ended April 30, 2022. The Company excluded 178,000, unvested, restricted shares, as calculated under the treasury stock method, from its computation of diluted net loss per common share for the three months ended April 30, 2021 and 185,000 for the six months ended April 30, 2021.

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