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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 3 Months Ended
Jan. 31, 2014
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES [Abstract]  
Schedule of Fair Value of Derivative Instruments

 

    January 31, 2014         October 31, 2013      
    Balance sheet   Fair     Balance sheet   Fair  
Derivatives   Location   value     location   value  
                         
Designated as hedging instruments:                        
Foreign exchange forward contracts   Derivative assets   $ 195     Derivative assets   $ 244  
Foreign exchange forward contracts   Derivative liabilities   $ 1,191     Derivative liabilities   $ 1,158  
                         
Not designated as hedging instruments:                        
Foreign exchange forward contracts   Derivative assets   $ 541     Derivative assets   $ 455  
Foreign exchange forward contracts   Derivative liabilities   $ 256     Derivative liabilities   $ 54  

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

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

 

Derivative instruments had the following effects on our Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Changes in Shareholders' Equity and Condensed Consolidated Statements of Income during the three months ended January 31, 2014 and 2013 (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		  
    Three months ended  
January 31,		         Three months ended  
January 31,		  
    2014     2013         2014     2013  
Designated as hedging instruments:                                    
(Effective portion)                                    
                                     
Foreign exchange forward contracts - Intercompany sales/purchases   $ (695 )   $ (1,544 )   Cost of sales and service   $ (403 )   $ 953  
Foreign exchange forward contract - Net investment   $ 31     $ (173 )                    

 

We recognized a loss of $19,000 for the three months ended January 31, 2014, and a loss of $64,000 for the three months ended January 31, 2013 as a result of contracts closed early that were deemed ineffective for financial reporting purposes and did not qualify as cash flow hedges. We recognized the following gains and losses in our Condensed Consolidated Statements of Income during the three months ended January 31, 2014 and 2013 (in thousands) on derivative instruments not designated as hedging instruments:

 

Derivatives   Location of gain
(loss) recognized in
operations		   Amount of gain (loss)
Recognized in operations		  
        Three months ended January 31,  
        2014     2013  
Not designated as hedging instruments:                    
                     
 Foreign exchange forward contracts   Other (income) expense, net   $ (38 )   $ (1,088 )

 
Schedule of Changes in Components of Accumulated Other Comprehensive Loss

 

    Foreign
Currency
Translation		    

Cash Flow

Hedges

     Total  
Balance, October 31, 2013   $ (1,016 )   $ (968 )   $ (1,984 )
                         
Other comprehensive income (loss) before reclassifications     (713 )     (441 )     (1,154 )
                         
Reclassifications     -         256       256  
Balance, January 31, 2014   $ (1,729 )   $ (1,153 )   $ (2,882 )