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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Oct. 31, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of Fair Value of Derivative Instruments

​

​	​	​	​	​	​	​	​	​	​	​
​	​	2021				​	2020
​	​	Balance Sheet	​	Fair		​	Balance Sheet	​	Fair
Derivatives		Location		Value			Location		Value
Designated as Hedging Instruments:	​		​	​		​		​	​
Foreign exchange forward contracts	​	Derivative assets	​	$	646	​	Derivative assets	​	$	495
Foreign exchange forward contracts	​	Derivative liabilities	​	$	403	​	Derivative liabilities	​	$	279
​	​		​		​	​	​	​		​
Not Designated as Hedging Instruments:	​		​		​	​	​	​	​	​
Foreign exchange forward contracts	​	Derivative assets	​	$	259	​	Derivative assets	​	$	473
Foreign exchange forward contracts	​	Derivative liabilities	​	$	64	​	Derivative liabilities	​	$	593

Schedule of Effect of Derivative Instruments on the 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 Operations, net of tax, during the fiscal years ended October 31, 2021, 2020, and 2019 (in thousands):

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​

​

​

​

​

​

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​

Location of

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​

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​

​

Amount of Gain (Loss)

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Gain (Loss)

​

Amount of Gain (Loss)

​

​

Recognized in

​

Reclassified

​

Reclassified from

​

​

Other Comprehensive

​

From Other

​

Other Comprehensive

​

​

Income (Loss)

​

Comprehensive

​

Income (Loss)

Derivatives

2021

2020

2019

Income (Loss)

2021

2020

2019

Designated as Hedging Instruments:

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​

​

​

​

​

​

​

​

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​

​

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​

​

​

​

(Effective Portion)

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​

​

​

​

​

​

​

​

​

​

​

Foreign exchange forward contracts – Intercompany sales/purchases

​

​

(477)

​

​

395

​

​

615

​

Cost of sales and service

​

​

679

​

​

421

​

​

235

Foreign exchange forward contract – Net investment

​

​

43

​

​

(64)

​

​

128

​

​

​

Schedule of derivative instruments not designated as hedging instruments

We recognized the following gains and losses in our Consolidated Statements of Operations during the fiscal years ended October 31, 2021, 2020, and 2019 on derivative instruments not designated as hedging instruments (in thousands):

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	Amount of Gain (Loss)
​	​	Location of Gain (Loss)	​	Recognized in Operations
Derivatives		Recognized in Operations		2021			2020			2019
Not Designated as Hedging Instruments:				​			​	​		​
Foreign exchange forward contracts		Other expense, net	​	$	(313)		$	(171)	​	$	514

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, 2021 and 2020 (in thousands):

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​	​	​	​	​	​	​	​	​	​
​	​	Foreign		​	Cash		​	​	​
​	​	Currency		​	Flow		​	​	​
​		Translation			Hedges			Total
Balance, October 31, 2019	​	$	(10,042)		$	1,109	​	$	(8,933)
Other comprehensive income (loss) before reclassifications	​		5,969	​		395	​		6,364
Reclassifications	​		—	​		(421)	​		(421)
Balance, October 31, 2020	​	$	(4,073)		$	1,083	​	$	(2,990)
Other comprehensive income (loss) before reclassifications	​		2,405	​		(477)	​		1,928
Reclassifications	​		—	​		(679)	​		(679)
Balance, October 31, 2021	​	$	(1,668)		$	(73)	​	$	(1,741)

Schedule of Property and Equipment Estimated Useful Lives

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​	​	​
​		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
2022		$	1,575
2023		​	1,856
2024		​	1,685
2025		​	1,089
2026 and thereafter		​	1,348

Schedule of Intangible Assets

As of October 31, 2021, the balances of intangible assets, other than goodwill, were as follows (in thousands):

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​

​

​

​

​

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Weighted

​

​

​

​

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​

​

​

Average

​

Gross

​

​

​

​

​

​

​

​

Amortization

​

Intangible

​

Accumulated

​

Net Intangible

​

Period

Assets

Amortization

Assets

Tradenames and trademarks

indefinite

​

$

177

$

—

​

$

177

Tradenames and trademarks

14

years

​

763

​

(234)

​

529

Customer relationships

15

years

​

373

​

(223)

​

150

Technology

13

years

​

708

​

(454)

​

254

Noncompete

​

5

years

​

​

580

​

​

(261)

​

​

319

Patents

6

years

​

2,972

​

(2,860)

​

112

Other

8

years

​

397

​

(373)

​

24

Total

​

​

$

5,970

$

(4,405)

​

$

1,565

​

As of October 31, 2020, the balances of intangible assets, other than goodwill, were as follows (in thousands):

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted

​

​

​

​

​

​

​

​

​

​

​

Average

​

Gross

​

​

​

​

​

​

​

​

Amortization

​

Intangible

​

Accumulated

​

Net Intangible

​

Period

Assets

Amortization

Assets

Tradenames and trademarks

indefinite

​

$

177

$

—

​

$

177

Tradenames and trademarks

14

years

​

765

​

(181)

​

584

Customer relationships

15

years

​

374

​

(199)

​

175

Technology

13

years

​

713

​

(402)

​

311

Noncompete

​

5

years

​

​

580

​

​

(145)

​

​

435

Patents

6

years

​

2,972

​

(2,837)

​

135

Other

8

years

​

397

​

(368)

​

29

Total

​

​

$

5,978

$

(4,132)

​

$

1,846

Schedule of computation of basic and diluted net income (loss) per share

The following table presents a reconciliation of our basic and diluted earnings per share computation:

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​

​

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​

​

​

​

​

​

​

​

​

​

​

Fiscal Year Ended October 31,

​

​

2021

​

2020

​

2019

(in thousands, except per share amounts)

Basic

Diluted

Basic

Diluted

Basic

Diluted

Net income (loss)

​

$

6,764

​

$

6,764

​

$

(6,247)

​

$

(6,247)

​

$

17,495

​

$

17,495

Undistributed earnings (loss) allocated to participating shares

​

(76)

​

(76)

​

66

​

66

​

(147)

​

(147)

Net income (loss) applicable to common shareholders

​

$

6,688

​

$

6,688

​

$

(6,181)

​

$

(6,181)

​

$

17,348

​

$

17,348

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted average shares outstanding

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6,595

​

6,595

​

6,670

​

6,670

​

6,759

​

6,759

Stock options and contingently issuable securities

​

—

​

13

​

—

​

​

—

​

—

​

56

​

​

6,595

​

6,608

​

6,670

​

6,670

​

6,759

​

6,815

Income (loss) per share

​

$

1.01

​

$

1.01

​

$

(0.93)

​

$

(0.93)

​

$

2.57

​

$

2.55

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