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EARNINGS PER SHARE
3 Months Ended
Jan. 31, 2013
EARNINGS PER SHARE [Abstract]  
EARNINGS PER SHARE
  4. EARNINGS PER SHARE

 

Per share results have been computed based on the average number of common shares outstanding. The computation of basic and diluted net income per share is determined using net income applicable to common shareholders as the numerator and the number of shares outstanding as the denominator as follows (in thousands, except per share amounts):

 

    Three months ended  
    January 31,  
    2013     2012  
    Basic     Diluted     Basic     Diluted  
                         
Net income   $ 2,254     $ 2,254     $ 4,633     $ 4,633  
Undistributed earnings                                
Allocated to participating Shares     (24 )     (24 )     (39 )     (39 )
Net income applicable to common shareholders   $ 2,230     $ 2,230     $ 4,594     $ 4,594  
Weighted average shares                                
Outstanding     6,447       6,447       6,441       6,441  
Stock options     -       37       -       25  
      6,447       6,484       6,441       6,466  
Income per share   $ 0.35     $ 0.34     $ 0.71     $ 0.71