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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Oct. 31, 2016
Accounting Policies [Abstract] |
Schedule of Fair Value of Derivative Instruments | As of October 31, 2016 and October 31, 2015, all derivative instruments were recorded at fair value on the balance sheets as follows (in thousands):
|  | 2016 |  | 2015 |
|  | Balance Sheet |  | Fair |  | Balance Sheet |  | Fair |
Derivatives |  | Location |  | Value |  | Location |  | Value |
Designated as Hedging Instruments: |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts |  | Derivative assets |  | $ | 1,721 |  | Derivative assets |  | $ | 1,079 |
Foreign exchange forward contracts |  | Derivative liabilities |  | $ | 173 |  | Derivative liabilities |  | $ | 1,027 |
Not Designated as Hedging Instruments: |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts |  | Derivative assets |  | $ | 4 |  | Derivative assets |  | $ | 149 |
Foreign exchange forward contracts |  | Derivative liabilities |  | $ | 365 |  | Derivative liabilities |  | $ | 44 |
Schedule of 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 fiscal years ended October 31, 2016 and 2015 (in thousands):
|  |  |  | Location of Gain |  |  |
|  | Amount of Gain (Loss) |  | (Loss) Reclassified |  | Amount of Gain (Loss) |
|  | Recognized in Other |  | from Other |  | Reclassified from Other |
|  | Comprehensive Income |  | Comprehensive |  | Comprehensive Income |
Derivatives |  | (Loss) |  | Income (Loss) |  | (Loss) |
|  | 2016 |  | 2015 |  |  |  | 2016 |  | 2015 |
Designated as Hedging Instruments: (Effective Portion) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts – Intercompany sales/purchases |  | $ | 1,431 |  | $ | 1,291 |  | Cost of sales and service |  | $ | 1,647 |  | $ | 784 |
Foreign exchange forward contract – Net Investment |  | $ | 28 |  | $ | 304 |  |  |  |  |  |  |  |  |
|  | Location of Gain (Loss) |  | Amount of Gain (Loss) |
Derivatives |  | Recognized in Operations |  | Recognized in Operations |
|  |  |  | 2016 |  | 2015 |
|  |  |  | (in thousands) |
Not Designated as Hedging Instruments: |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts |  | Other expense, net |  | $ | 536 |  | $ | 2,571 |
Schedule of Accumulated Other Comprehensive Loss | The following table presents the changes in the components of Accumulated other comprehensive loss, net of tax, for the fiscal years ended October 31, 2016 and 2015 (in thousands):
|  | Foreign |  |  |  |  |
|  | Currency Translation |  | Cash Flow Hedges |  | Total |
Balance, October 31, 2014 |  |  | (4,551) |  |  | 991 |  |  | (3,560) |
Other comprehensive income (loss) before reclassifications |  |  | (6,333) |  |  | 1,291 |  |  | (5,042) |
Reclassifications |  |  | — |  |  | (784) |  |  | (784) |
Balance, October 31, 2015 |  | $ | (10,884) |  | $ | 1,498 |  | $ | (9,386) |
Other comprehensive income (loss) before reclassifications |  |  | (1,441) |  |  | 1,431 |  |  | (10) |
Reclassifications |  |  | — |  |  | (1,647) |  |  | (1,647) |
Balance, October 31, 2016 |  | $ | (12,325) |  | $ | 1,282 |  | $ | (11,043) |
Schedule of Property and Equipment Estimated Useful Lives | Depreciation and amortization of assets are provided primarily under the straight-line method over the shorter of the estimated useful lives or the lease terms as follows:
|  | 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 | Estimated amortization expense for the remaining unamortized software development costs for the fiscal years ending October 31, is as follows (in thousands):
|  | Amortization |
Fiscal Year |  | Expense |
2017 |  | $ | 1,200 |
2018 |  |  | 1,275 |
2019 |  |  | 750 |
2020 |  |  | 700 |
2021 |  |  | 625 |
Schedule of Intangible Assets | As of October 31, 2016, the balances of intangible assets, other than goodwill, were as follows (in thousands):
|  | Weighted |  |  |  |  |  |  |
|  | Average |  | Gross |  |  |  | Net |
|  | Amortization |  | Intangible |  | Accumulated |  | Intangible |
|  | Period |  | Assets |  | Amortization |  | Assets |
Tradenames and trademarks |  | 13 years |  | $ | 231 |  | $ | (59) |  | $ | 172 |
Tradenames and trademarks |  | indefinite |  |  | 60 |  |  | — |  |  | 60 |
Customer relationships |  | 15 years |  |  | 254 |  |  | (114) |  |  | 140 |
Technology |  | 13 years |  |  | 672 |  |  | (172) |  |  | 500 |
Patents |  | 6 years |  |  | 2,972 |  |  | (2,741) |  |  | 231 |
Other |  | 8 years |  |  | 373 |  |  | (326) |  |  | 47 |
Total |  |  |  | $ | 4,562 |  | $ | (3,412) |  | $ | 1,150 |
As of October 31, 2015, the balances of intangible assets, other than goodwill, were as follows (in thousands):
|  | Weighted |  |  |  |  |  |  |
|  | Average |  | Gross |  |  |  |  |
|  | Amortization |  | Intangible |  | Accumulated |  | Net Intangible |
|  | Period |  | Assets |  | Amortization |  | Assets |
Tradenames and trademarks |  | 13 years |  | $ | 231 |  | $ | (41) |  | $ | 190 |
Tradenames and trademarks |  | indefinite |  |  | 60 |  |  | — |  |  | 60 |
Customer relationships |  | 15 years |  |  | 254 |  |  | (97) |  |  | 157 |
Technology |  | 13 years |  |  | 674 |  |  | (121) |  |  | 553 |
Patents |  | 6 years |  |  | 2,972 |  |  | (2,717) |  |  | 255 |
Other |  | 8 years |  |  | 373 |  |  | (299) |  |  | 74 |
Total |  |  |  | $ | 4,564 |  | $ | (3,275) |  | $ | 1,289 |
Reconciliation of Basic and Diluted Earnings Per Share | The following table presents a reconciliation of our basic and diluted earnings per share computation:
|  | Fiscal Year Ended October 31, |
|  | 2016 |  | 2015 |  | 2014 |
(in thousands, except per share amounts) |  | Basic |  | Diluted |  | Basic |  | Diluted |  | Basic |  | Diluted |
Net income |  | $ | 13,292 |  | $ | 13,292 |  | $ | 16,214 |  | $ | 16,214 |  | $ | 15,143 |  | $ | 15,143 |
Undistributed earnings allocated to participating shares |  |  | (76) |  |  | (76) |  |  | (93) |  |  | (93) |  |  | (121) |  |  | (121) |
Net income applicable to common shareholders |  | $ | 13,216 |  | $ | 13,216 |  | $ | 16,121 |  | $ | 16,121 |  | $ | 15,022 |  | $ | 15,022 |
Weighted average shares outstanding |  |  | 6,569 |  |  | 6,569 |  |  | 6,543 |  |  | 6,543 |  |  | 6,497 |  |  | 6,497 |
Stock options and contingently issuable securities |  |  | — |  |  | 73 |  |  | — |  |  | 59 |  |  | — |  |  | 41 |
|  |  | 6,569 |  |  | 6,642 |  |  | 6,543 |  |  | 6,602 |  |  | 6,497 |  |  | 6,538 |
Income per share |  | $ | 2.01 |  | $ | 1.99 |  | $ | 2.46 |  | $ | 2.44 |  | $ | 2.31 |  | $ | 2.30 |

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