SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Oct. 31, 2013

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Schedule of Fair Value of Derivative Instruments

	2013			2012
	Balance Sheet	Fair		Balance Sheet	Fair
Derivatives	Location	Value		Location	Value
Designated as Hedging Instruments:
Foreign exchange forward contracts	Derivative assets	$	244	Derivative assets	$	705
Foreign exchange forward contracts	Derivative liabilities	$	1,158	Derivative liabilities	$	492
Not Designated as Hedging Instruments:
Foreign exchange forward contracts	Derivative assets	$	455	Derivative assets	$	3
Foreign exchange forward contracts	Derivative liabilities	$	54	Derivative liabilities	$	77

Schedule of Effect of Derivative Instruments on the Consolidated Balance Sheets, Statements of Changes in Shareholders' Equity and Statements of Operations

Effect of Derivative Instruments on the Consolidated Balance Sheets, Statements of Changes in Shareholders' Equity and Statements of Operations

Derivative instruments had the following effects on our Consolidated Balance Sheets, Statements of Changes in Shareholders' Equity and Statements of Income, net of tax during the year ended October 31, 2013 and 2012 (in thousands):

Derivatives	Amount of Gain (Loss) Recognized in Other Comprehensive Income					Location of Gain (Loss) Reclassified from Other Comprehensive Income	Amount of Gain (Loss) Reclassified from Other Comprehensive Income
	2013			2012			2013		2012
Designated as Hedging Instruments: (Effective Portion)
Foreign exchange forward contracts - Intercompany sales/purchases	$	(1,445	)	$	2,946	Cost of sales and service	$	1,690	$	(172	)
Foreign exchange forward contract - Net Investment	$	(173	)	$	292

We recognized a loss of $37,000 during the year ended October 31, 2013 and a gain of $482,000 during the year ended October 31, 2012 as a result of contracts closed early that were deemed ineffective for financial reporting purposes and did not qualify as cash flow hedges.

Derivatives	Location of Gain (Loss) Recognized in Operations	Amount of Gain (Loss) Recognized in Operations (in thousands)
		2013			2012
Not Designated as Hedging Instruments:

Foreign exchange forward contracts	Other income (expense)	$	(1,786	)	$	1,013

Schedule of Accumulated Other Comprehensive Loss

	Foreign Currency Translation			Cash Flow Hedges			Total

Balance, October 31, 2011	$	(1,070	)	$	(924	)	$	(1,994	)
Other comprehensive income (loss) before reclassifications		(838	)		1,870			1,032
Reclassifications		-			109			109
Balance, October 31, 2012		(1,908	)		1,055			(853	)
Other comprehensive income (loss) before reclassifications		892			(932	)		(40	)
Reclassifications		-			(1,091	)		(1,091	)
Balance, October 31, 2013	$	(1,016	)	$	(968	)	$	(1,984	)

Schedule of Property and Equipment Estimated Useful Lives

	Number of Years
Land	Indefinite
Building	40
Machines	7 - 10
Shop and office equipment	3 - 7
Leasehold improvements	3 - 40

Schedule of Estimated Amortization Expense

Fiscal Year	Amortization Expense
2014	$	1,150
2015		1,025
2016		700
2017		335
2018		220

Schedule of Goodwill

Balance as of October 31, 2012	$	233
Goodwill acquired		2,574
Balance as of October 31, 2013	$	2,807

Schedule of Intangible Assets

As of October 31, 2013, the balances of intangible assets, other than goodwill, were as follows (in thousands):

	Weighted Average Amortization Period	Gross Intangible Assets		Accumulated Amortization			Net Intangible Assets

Tradenames and trademarks	13 years	$	285	$	(7	)	$	278
Tradenames and trademarks	indefinite		60		-			60
Customer relationships	15 years		264		(64	)		200
Technology	13 years		831		(21	)		810
Patents	6 years		2,973		(2,363	)		610
Other	8 years		399		(202	)		197
Total		$	4,812	$	(2,657	)	$	2,155

As of October 31, 2012, the balances of intangible assets, other than goodwill, were as follows (in thousands):

	Weighted Average Amortization Period	Gross Intangible Assets		Accumulated Amortization			Net Intangible Assets

Tradenames and trademarks	Indefinite	$	60	$	-		$	60
Customer relationships	15 years		210		(49	)		161
Patents	5 years		2,662		(2,111	)		551
Other	7 years		320		(155	)		165
Total		$	3,252	$	(2,315	)	$	937

Reconciliation of Basic and Diluted Earnings Per Share

	Fiscal Year Ended
	October 31,
(in thousands, except per share amount)	2013						2012						2011
	Basic			Diluted			Basic			Diluted			Basic			Diluted

Net income	$	8,190		$	8,190		$	15,638		$	15,638		$	11,124		$	11,124

Undistributed earnings allocated to participating shares		(86	)		(86	)		(134	)		(134	)		(53	)		(53	)
Net income applicable to common shareholders	$	8,104		$	8,104		$	15,504		$	15,504		$	11,071		$	11,071
Weighted average shares outstanding		6,455			6,455			6,445			6,445			6,441			6,441
Stock options		-			42			-			25			-			31
		6,455			6,497			6,445			6,470			6,441			6,472
Income per share	$	1.26		$	1.25		$	2.41		$	2.40		$	1.72		$	1.71