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EARNINGS PER SHARE
 9 Months Ended
Jul. 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     Nine months ended  
    July 31,     July 31,  
    2013     2012     2013     2012  
                                                 
    Basic     Diluted     Basic     Diluted     Basic     Diluted     Basic     Diluted  
                                                 
Net income   $ 854     $ 854     $ 3,957     $ 3,957     $ 6,291     $ 6,291     $ 11,552     $ 11,552  
Undistributed earnings Allocated to participating shares     (9)       (9)        (34 )     (34 )     (66 )     (66 )     (99 )     (99 )
Net income applicable to common shareholders   $ 845     $ 845     $ 3,923     $ 3,923     $ 6,225     $ 6,225     $ 11,453     $ 11,453  
Weighted average shares outstanding     6,458       6,458       6,447       6,447       6,452       6,452       6,444       6,444  
Stock options     -       49       -       18       -       43       -       26  
      6,458       6,507       6,447       6,465       6,452       6,495       6,444       6,470  
Income per share   $ 0.13     $ 0.13     $ 0.61     $ 0.61     $ 0.96     $ 0.96     $ 1.78     $ 1.77