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Earnings Per Share | 12 Months Ended
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Oct. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings 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 conversion of unvested, restricted stock and preferred stock. The Series B and Series B-2 convertible preferred shares were anti-dilutive for fiscal years 2024, 2023 and 2022. The computations for basic and diluted net income (loss) per common share are as follows for the fiscal years ended October 31 (in thousands, except per share data):
|  |  |  |  | 2024 |  | 2023 |  | 2022
Basic net income (loss) per common share: |  |  |  |  |  |  |
Net income (loss) applicable to common stock |  |  |  |  | $ | 7,215 |  |  | $ | 8,899 |  |  | $ | (737) |
Effect of unvested, restricted stock |  |  |  |  | (119) |  |  | (146) |  |  | (50) |
Numerator: Net income (loss) for basic EPS |  |  |  |  | 7,096 |  |  | 8,753 |  |  | (787) |
Denominator: Weighted average common shares–basic |  |  |  |  | 17,715 |  |  | 17,603 |  |  | 17,513 |
Basic net income (loss) per common share |  |  |  |  | $ | 0.40 |  |  | $ | 0.50 |  |  | $ | (0.04) |
Diluted net income (loss) per common share: |  |  |  |  |  |  |  |  |
Net income (loss) for basic EPS |  |  |  |  | $ | 7,096 |  |  | $ | 8,753 |  |  | $ | (787) |
Effect of dilutive preferred stock |  |  |  |  | — |  |  | — |  |  | — |
Numerator: Net income (loss) for diluted EPS |  |  |  |  | 7,096 |  |  | 8,753 |  |  | (787) |
Weighted average common shares–basic |  |  |  |  | 17,715 |  |  | 17,603 |  |  | 17,513 |
Effect of dilutive preferred stock |  |  |  |  | — |  |  | — |  |  | — |
Denominator: Weighted average common shares–diluted |  |  |  |  | 17,715 |  |  | 17,603 |  |  | 17,513 |
Diluted net income (loss) per common share |  |  |  |  | $ | 0.40 |  |  | $ | 0.50 |  |  | $ | (0.04) |
Diluted net income (loss) per common share is calculated 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 income (loss) per common share was calculated under the two-class method for fiscal years 2024, 2023 and 2022.

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