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INCOME TAXES (Tables) | 12 Months Ended
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Oct. 31, 2022
INCOME TAXES |
Components of Income (Loss) Before Taxes | The components of income (loss) before taxes are (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended October 31,
​ |  | 2022 |  | 2021 |  | 2020
Income (loss) before income taxes: |  | ​ |  |  | ​ |  |  | ​ |
Domestic | ​ | $ | (232) |  | $ | 4,340 |  | $ | (11,681)
Foreign | ​ |  | 12,110 |  |  | 5,781 |  |  | 878
​ | ​ | $ | 11,878 |  | $ | 10,121 |  | $ | (10,803)
Schedule of Income Taxes Provision (Benefit) | In the fiscal years set forth below, the provision (benefit) for income taxes consisted of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended October 31,
​ |  | 2022 |  | 2021 |  | 2020
Current: |  | ​ |  |  | ​ | ​ |  | ​ |
U.S. taxes | ​ | $ | 1,092 |  | $ | 1,763 | ​ | $ | (4,932)
Foreign taxes | ​ |  | 3,191 | ​ |  | 1,706 | ​ |  | 923
​ | ​ |  | 4,283 | ​ |  | 3,469 | ​ |  | (4,009)
Deferred: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
U.S. taxes | ​ |  | (933) | ​ |  | 66 | ​ |  | (256)
Foreign taxes | ​ |  | 302 | ​ |  | (178) | ​ |  | (291)
​ | ​ |  | (631) | ​ |  | (112) | ​ |  | (547)
​ | ​ | $ | 3,652 |  | $ | 3,357 | ​ | $ | (4,556)
Schedule of Reconciliation of Statutory Tax Rate to Effective Tax Rate | ​ A comparison of income tax expense at the U.S. statutory rate to our effective tax rate is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended October 31, |
​ |  | 2022 |  | 2021 |  | 2020 |
​ | ​ |  | ​ | ​ |  | ​ | ​ |  |  |
U.S. statutory rate | ​ |  | 21 | % |  | 21 | % |  | 21 | %
Effect of tax rate of international jurisdictions different than U.S. statutory rates | ​ |  | 4 | % |  | 4 | % |  | (2) | %
Valuation allowance | ​ |  | 3 | % |  | — | % |  | — | %
State taxes | ​ |  | 1 | % |  | 1 | % |  | 2 | %
Tax credits | ​ |  | 1 | % |  | — | % |  | 1 | %
U.S. benefit of foreign intangible income | ​ | ​ | (3) | % | ​ | (1) | % | ​ | — | %
Impact of CARES act | ​ | ​ | — | % | ​ | 5 | % | ​ | 22 | %
Other | ​ |  | 4 | % 1 |  | 3 | % 1 |  | (2) | %
Effective tax rate | ​ |  | 31 | % |  | 33 | % |  | 42 | %
1 Primarily due to discrete items for unearned stock awards | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of Deferred Tax Assets and Liabilities | Significant components of our deferred tax assets and liabilities at October 31, 2022 and 2021 are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | October 31,
​ |  | 2022 |  | 2021
Deferred Tax Assets: |  | ​ |  |  | ​ |
Accrued inventory reserves | ​ | $ | 1,329 |  | $ | 973
Accrued warranty expenses | ​ |  | 270 | ​ |  | 308
Compensation related expenses | ​ |  | 2,495 | ​ |  | 2,444
Net derivative gain | ​ | ​ | 98 | ​ | ​ | 49
Unrealized exchange gain | ​ |  | 117 | ​ |  | —
Other accrued expenses | ​ |  | 318 | ​ |  | 282
Net operating loss carryforwards | ​ |  | 1,449 | ​ |  | 1,705
Other credit carryforwards | ​ |  | 703 | ​ |  | 839
Operating lease liabilities | ​ | ​ | 2,023 | ​ | ​ | 2,570
Goodwill and intangibles | ​ | ​ | 831 | ​ | ​ | 967
Other | ​ |  | 171 | ​ |  | 215
​ | ​ |  | 9,804 | ​ |  | 10,352
Less: Valuation allowance – net operating loss and other credit carryforwards | ​ |  | (1,754) | ​ |  | (1,871)
Deferred tax assets | ​ |  | 8,050 | ​ |  | 8,481
​ | ​ |  | ​ | ​ |  | ​
Deferred Tax Liabilities: | ​ |  | ​ | ​ |  | ​
Unrealized exchange loss | ​ |  | — | ​ |  | (15)
Property and equipment and capitalized software development costs | ​ |  | (2,394) | ​ |  | (2,533)
Operating lease - right of use assets | ​ | ​ | (1,960) | ​ | ​ | (2,495)
Other | ​ |  | (321) | ​ |  | (352)
Net deferred tax assets | ​ | $ | 3,375 |  | $ | 3,086
Schedule of Income Tax Expense | A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding the related accrual for interest or penalties, is as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
Balance, beginning of year | ​ | $ | 167 |  | $ | 168 | ​ | $ | 193
Additions based on tax positions related to the current year | ​ |  | 21 | ​ |  | 74 | ​ |  | 9
Additions (reductions) related to prior year tax positions | ​ |  | — | ​ |  | — | ​ |  | (2)
Reductions due to statute expiration | ​ |  | (50) | ​ |  | (75) | ​ |  | (32)
Balance, end of year | ​ | $ | 138 |  | $ | 167 | ​ | $ | 168
Summary of open tax years by major jurisdiction | ​
​ | ​ | ​
United States federal |  | Fiscal year 2014 through the current period
Germany¹ |  | Fiscal year 2017 through the current period
United Kingdom | ​ | Fiscal year 2015 through the current period
Taiwan |  | Fiscal year 2017 through the current period
¹ | Includes federal as well as state, provincial or similar local jurisdictions, as applicable.

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