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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Oct. 31, 2018
Accounting Policies [Abstract] |
Schedule of Fair Value of Derivative Instruments |
|  | 2018 |  |  | 2017 |
|  | Balance Sheet |  | Fair |  |  | Balance Sheet |  | Fair |
Derivatives |  | Location |  | Value |  |  | Location |  | Value |
Designated as Hedging Instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts |  | Derivative assets |  | $ | 2,654 |  |  | Derivative assets |  | $ | 305 |
Foreign exchange forward contracts |  | Derivative liabilities |  | $ | 1,616 |  |  | Derivative liabilities |  | $ | 1,508 |
Not Designated as Hedging Instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts |  | Derivative assets |  | $ | 431 |  |  | Derivative assets |  | $ | 291 |
Foreign exchange forward contracts |  | Derivative liabilities |  | $ | 404 |  |  | Derivative liabilities |  | $ | 224 |
Schedule of Effect of Derivative Instruments on the Consolidated Balance Sheets, Statements of Changes in Shareholders' Equity and Statements of Income | 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, 2018, 2017, and 2016 (in thousands):
|  | Amount of Gain (Loss) |  |  | Location of Gain (Loss) |  |  | Amount of Gain (Loss) |
|  | Recognized in |  |  | Reclassified from |  |  | Reclassified from |
|  | Other Comprehensive |  |  | Other Comprehensive |  |  | Other Comprehensive |
Derivatives |  | Income (Loss) |  |  | Income (Loss) |  |  | Income (Loss) |
|  | 2018 |  |  | 2017 |  |  | 2016 |  |  |  |  |  | 2018 |  |  | 2017 |  |  | 2016 |
Designated as Hedging Instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Effective Portion) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Cost of sales Cost of sales |  |  |  |  |  |  |  |  |  |  |  |  |  |
– Intercompany sales/purchases |  | $ | 155 |  |  | $ | (709 | ) |  | $ | 1,431 |  |  |  | and service |  |  | $ | (1,355 | ) |  | $ | 1,354 |  |  | $ |  | 1,647 |
Foreign exchange forward contract |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
– Net Investment |  | $ | 136 |  |  | $ | (96 | ) |  | $ | 28 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Schedule of Effect of Derivative Instruments Not Designated as Hedging Instrument on the Statements of Income | We recognized the following gains and losses in our Consolidated Statements of Income during the fiscal years ended October 31, 2018, 2017, and 2016 on derivative instruments not designated as hedging instruments (in thousands):
|  | Location of Gain (Loss) |  |  | Amount of Gain (Loss) |
Derivatives |  | Recognized in Operations |  |  | Recognized in Operations |
|  |  |  |  | 2018 |  |  | 2017 |  |  | 2016 |
Not Designated as Hedging Instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts |  | Other expense, net |  |  | $ | (963 | ) |  | $ | (1,001 | ) |  | $ | 536 |
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, 2018 and 2017 (in thousands):
|  | Foreign |  |  | Cash |  |  |  |
|  | Currency |  |  | Flow |  |  |  |
|  | Translation |  |  | Hedges |  |  | Total |
Balance, October 31, 2016 |  | $ | (12,325 | ) |  | $ | 1,282 |  |  | $ | (11,043 | )
Other comprehensive income (loss) before reclassifications |  |  | 4,916 |  |  |  | (709 | ) |  |  | 4,207 |
Reclassifications |  |  | – |  |  |  | (1,354 | ) |  |  | (1,354 | )
Balance, October 31, 2017 |  | $ | (7,409 | ) |  | $ | (781 | ) |  | $ | (8,190 | )
Other comprehensive income (loss) before reclassifications |  |  | (3,183 | ) |  |  | 155 |  |  |  | (3,028 | )
Reclassifications |  |  | – |  |  |  | 1,355 |  |  |  | 1,355 |
Balance, October 31, 2018 |  | $ | (10,592 | ) |  | $ | 729 |  |  | $ | (9,863 | )
Schedule of Property and Equipment Estimated Useful Lives |
| Number of Years
Land | Indefinite
Building | 40
Machines | 7 – 10
Shop and office equipment | 3 – 7
Building & 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):
Fiscal Year |  | Amortization Expense |
2019 |  |  | 1,000 |
2020 |  |  | 1,300 |
2021 |  |  | 1,500 |
2022 |  |  | 1,400 |
2023 |  |  | 1,050 |
Schedule of Intangible Assets | As of October 31, 2018, 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 |
Tradenames and trademarks |  | 13 years |  |  | 238 |  |  |  | (98 | ) |  |  | 140 |
Customer relationships |  | 15 years |  |  | 255 |  |  |  | (148 | ) |  |  | 107 |
Technology |  | 13 years |  |  | 692 |  |  |  | (284 | ) |  |  | 408 |
Patents |  | 6 years |  |  | 2,973 |  |  |  | (2,790 | ) |  |  | 183 |
Other |  | 8 years |  |  | 377 |  |  |  | (337 | ) |  |  | 40 |
Total |  |  |  | $ | 4,595 |  |  | $ | (3,657 | ) |  | $ | 938 |
As of October 31, 2017, 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 |
Tradenames and trademarks |  | 13 years |  |  | 245 |  |  |  | (81 | ) |  |  | 164 |
Customer relationships |  | 15 years |  |  | 257 |  |  |  | (132 | ) |  |  | 125 |
Technology |  | 13 years |  |  | 713 |  |  |  | (239 | ) |  |  | 474 |
Patents |  | 6 years |  |  | 2,973 |  |  |  | (2,765 | ) |  |  | 208 |
Other |  | 8 years |  |  | 378 |  |  |  | (333 | ) |  |  | 45 |
Total |  |  |  | $ | 4,626 |  |  | $ | (3,550 | ) |  | $ | 1,076 |
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, |
(in thousands, except per share amounts) |  | 2018 |  |  | 2017 |  |  | 2016 |
|  | Basic |  |  | Diluted |  |  | Basic |  |  | Diluted |  |  | Basic |  |  | Diluted |
Net income |  | $ | 21,490 |  |  | $ | 21,490 |  |  | $ | 15,115 |  |  | $ | 15,115 |  |  | $ | 13,292 |  |  | $ | 13,292 |
Undistributed earnings allocated to participating shares |  |  | (132 | ) |  |  | (132 | ) |  |  | (100 | ) |  |  | (100 | ) |  |  | (76 | ) |  |  | (76 | )
Net income applicable to common Shareholders |  | $ | 21,358 |  |  | $ | 21,358 |  |  | $ | 15,015 |  |  | $ | 15,015 |  |  | $ | 13,216 |  |  | $ | 13,216 |
Weighted average shares outstanding |  |  | 6,700 |  |  |  | 6,700 |  |  |  | 6,615 |  |  |  | 6,615 |  |  |  | 6,569 |  |  |  | 6,569 |
Stock options and contingently issuable securities |  |  | – |  |  |  | 71 |  |  |  | – |  |  |  | 65 |  |  |  | – |  |  |  | 73 |
|  |  | 6,700 |  |  |  | 6,771 |  |  |  | 6,615 |  |  |  | 6,680 |  |  |  | 6,569 |  |  |  | 6,642 |
Income per share |  | $ | 3.19 |  |  | $ | 3.15 |  |  | $ | 2.27 |  |  | $ | 2.25 |  |  | $ | 2.01 |  |  | $ | 1.99 |

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