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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Oct. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] |
Schedule of Fair Value of Derivative Instruments |
|  | 2014 |  | 2013
|  | Balance Sheet |  | Fair |  |  | Balance Sheet |  | Fair |
Derivatives |  | Location |  | Value |  |  | Location |  | Value |
Designated as Hedging Instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts |  | Derivative assets |  | $ | 2,596 |  |  | Derivative assets |  | $ | 244 |
Foreign exchange forward contracts |  | Derivative liabilities |  | $ | 401 |  |  | Derivative liabilities |  | $ | 1,158 |
Not Designated as Hedging Instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts |  | Derivative assets |  | $ | 531 |  |  | Derivative assets |  | $ | 455 |
Foreign exchange forward contracts |  | Derivative liabilities |  | $ | 304 |  |  | Derivative liabilities |  | $ | 54 |
Schedule of Effect of Derivative Instruments on the Consolidated Balance Sheets, Statements of Changes in Shareholders' Equity and Statements of Operations |
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 |
|  | 2014 |  |  | 2013 |  |  |  |  | 2014 |  |  | 2013 |
Designated as Hedging Instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Effective Portion) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts – Intercompany sales/purchases |  | $ | 830 |  |  | $ | (932 | ) |  | Cost of sales and service |  | $ | (1,129 | ) |  | $ | 1,091 |
Foreign exchange forward contract – Net Investment |  | $ | 207 |  |  | $ | (112 | ) |  |  |  |  |  |  |  |  |  |
We recognized a gain of $16,000 during the fiscal year ended October 31, 2014 and a loss of $37,000 during the fiscal year ended October 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.
Derivatives |  | Location of Gain (Loss) Recognized in Operations |  | Amount of Gain (Loss) Recognized in Operations |
|  |  |  | 2014 |  |  | 2013 |
|  |  |  | (in thousands) |
Not Designated as Hedging Instruments: |  |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts |  | Other income (expense) |  | $ | 1,657 |  |  | $ | (1,786 | )
Schedule of Accumulated Other Comprehensive Loss |
|  | Foreign Currency Translation |  |  | Cash Flow Hedges |  |  | Total |
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 | )
Other comprehensive income (loss) before reclassifications |  |  | (3,535 | ) |  |  | 830 |  |  |  | (2,705 | )
Reclassifications |  |  | — |  |  |  | 1,129 |  |  |  | 1,129 |
Balance, October 31, 2014 |  | $ | (4,551 | ) |  | $ | 991 |  |  | $ | (3,560 | )
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 |
2015 |  | $ | 1,050 |
2016 |  |  | 800 |
2017 |  |  | 575 |
2018 |  |  | 525 |
2019 |  |  | 425 |
Schedule of Goodwill |
Balance as of October 31, 2013 |  | $ | 2,807 |
Impact of foreign currency translation |  |  | (201 | )
Balance as of October 31, 2014 |  | $ | 2,606 |
Schedule of Intangible Assets | As of October 31, 2014, 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 |  |  | $ | 263 |  |  | $ | (27 | ) |  | $ | 236 |
Tradenames and trademarks |  |  | indefinite |  |  |  | 60 |  |  |  | — |  |  |  | 60 |
Customer relationships |  |  | 15 years |  |  |  | 260 |  |  |  | (81 | ) |  |  | 179 |
Technology |  |  | 13 years |  |  |  | 766 |  |  |  | (78 | ) |  |  | 688 |
Patents |  |  | 6 years |  |  |  | 2,972 |  |  |  | (2,632 | ) |  |  | 340 |
Other |  |  | 8 years |  |  |  | 383 |  |  |  | (251 | ) |  |  | 132 |
Total |  |  |  |  |  | $ | 4,704 |  |  | $ | (3,069 | ) |  | $ | 1,635 |
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 |
Reconciliation of Basic and Diluted Earnings Per Share |
|  | Fiscal Year Ended October 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
(in thousands, except per share amount) |  | Basic |  |  | Diluted |  |  | Basic |  |  | Diluted |  |  | Basic |  |  | Diluted |
Net income |  | $ | 15,143 |  |  | $ | 15,143 |  |  | $ | 8,190 |  |  | $ | 8,190 |  |  | $ | 15,638 |  |  | $ | 15,638 |
Undistributed earnings allocated to participating shares |  |  | (121 | ) |  |  | (121 | ) |  |  | (86 | ) |  |  | (86 | ) |  |  | (134 | ) |  |  | (134 | )
Net income applicable to common shareholders |  | $ | 15,022 |  |  | $ | 15,022 |  |  | $ | 8,104 |  |  | $ | 8,104 |  |  | $ | 15,504 |  |  | $ | 15,504 |
Weighted average shares outstanding |  |  | 6,497 |  |  |  | 6,497 |  |  |  | 6,455 |  |  |  | 6,455 |  |  |  | 6,445 |  |  |  | 6,445 |
Stock options |  |  | — |  |  |  | 41 |  |  |  | — |  |  |  | 42 |  |  |  | — |  |  |  | 25 |
|  |  | 6,497 |  |  |  | 6,538 |  |  |  | 6,455 |  |  |  | 6,497 |  |  |  | 6,445 |  |  |  | 6,470 |
Income per share |  | $ | 2.31 |  |  | $ | 2.30 |  |  | $ | 1.26 |  |  | $ | 1.25 |  |  | $ | 2.41 |  |  | $ | 2.40 |

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