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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Oct. 31, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Schedule of Fair Value of Derivative Instruments | As of October 31, 2023 and October 31, 2022, all derivative instruments were recorded at fair value on our Consolidated Balance Sheets as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 | ​ | 2022
​ | ​ | Balance Sheet | ​ | Fair | ​ | Balance Sheet | ​ | Fair
Derivatives |  | Location |  | Value |  | Location |  | Value
Designated as Hedging Instruments: | ​ |  | ​ | ​ |  | ​ |  | ​ | ​ |
Foreign exchange forward contracts | ​ | Derivative assets | ​ | $ | 363 | ​ | Derivative assets | ​ | $ | 2,273
Foreign exchange forward contracts | ​ | Derivative liabilities | ​ | $ | 1,232 | ​ | Derivative liabilities | ​ | $ | 2,891
​ | ​ |  | ​ |  | ​ | ​ | ​ | ​ |  | ​
Not Designated as Hedging Instruments: | ​ |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​
Foreign exchange forward contracts | ​ | Derivative assets | ​ | $ | 377 | ​ | Derivative assets | ​ | $ | 242
Foreign exchange forward contracts | ​ | Derivative liabilities | ​ | $ | 589 | ​ | Derivative liabilities | ​ | $ | 741
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, Consolidated Statements of Changes in Shareholders’ Equity, and Consolidated Statements of Operations, net of tax, during the fiscal years ended October 31, 2023, 2022, and 2021 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Location of | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amount of Gain (Loss) | ​ | Gain (Loss) | ​ | Amount of Gain (Loss)
​ | ​ | Recognized in | ​ | Reclassified | ​ | Reclassified from
​ | ​ | Other Comprehensive | ​ | From Other | ​ | Other Comprehensive
​ | ​ | Income (Loss) | ​ | Comprehensive | ​ | Income (Loss)
Derivatives |  | 2023 |  | 2022 |  | 2021 |  | Income (Loss) |  | 2023 |  | 2022 |  | 2021
Designated as Hedging Instruments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Effective Portion) |  | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​ |  | ​ | ​ |  |  | ​ | ​ |  | ​ |
Foreign exchange forward contracts – Intercompany sales/purchases | ​ | $ | (1,465) | ​ | $ | (384) | ​ | $ | (477) | ​ | Cost of sales and service | ​ | $ | 488 |  | $ | (191) | ​ | $ | 679
Foreign exchange forward contract – Net investment | ​ | $ | (99) | ​ | $ | 401 | ​ | $ | 43 | ​ |  | ​ |  |  |  |  | ​ | ​ | ​ | ​
​
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, 2023, 2022, and 2021 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 |  | 2023 |  | 2022 |  | 2021
Not Designated as Hedging Instruments: |  |  |  | ​ |  |  | ​ | ​ |  | ​ |
Foreign exchange forward contracts |  | Other expense, net | ​ | $ | (3,112) |  | $ | 2,374 | ​ | $ | (313)
Schedule of Accumulated Other Comprehensive Loss | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Amount of Gain (Loss)
​ | ​ | Location of Gain (Loss) | ​ | Recognized in Operations
Derivatives |  | Recognized in Operations |  | 2023 |  | 2022 |  | 2021
Not Designated as Hedging Instruments: |  |  |  | ​ |  |  | ​ | ​ |  | ​ |
Foreign exchange forward contracts |  | Other expense, net | ​ | $ | (3,112) |  | $ | 2,374 | ​ | $ | (313)
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
2024 |  | $ | 1,738
2025 |  | ​ | 1,456
2026 |  | ​ | 1,186
2027 |  | ​ | 1,022
2028 and thereafter |  | ​ | 1,628
Schedule of Intangible Assets | As of October 31, 2023, 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 |  | indefinite | ​ | $ | 177 |  | $ | — | ​ | $ | 177
Tradenames and trademarks |  | 14 | years | ​ |  | 742 | ​ |  | (324) | ​ |  | 418
Customer relationships |  | 15 | years | ​ |  | 369 | ​ |  | (270) | ​ |  | 99
Technology |  | 13 | years | ​ |  | 647 | ​ |  | (514) | ​ |  | 133
Noncompete | ​ | 5 | years | ​ | ​ | 580 | ​ | ​ | (493) | ​ | ​ | 87
Patents |  | 6 | years | ​ |  | 2,973 | ​ |  | (2,909) | ​ |  | 64
Other |  | 8 | years | ​ |  | 392 | ​ |  | (376) | ​ |  | 16
Total |  | ​ |  | ​ | $ | 5,880 |  | $ | (4,886) | ​ | $ | 994
​ As of October 31, 2022, 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 |  | indefinite | ​ | $ | 177 |  | $ | — | ​ | $ | 177
Tradenames and trademarks |  | 14 | years | ​ |  | 728 | ​ |  | (261) | ​ |  | 467
Customer relationships |  | 15 | years | ​ |  | 367 | ​ |  | (243) | ​ |  | 124
Technology |  | 13 | years | ​ |  | 605 | ​ |  | (434) | ​ |  | 171
Noncompete | ​ | 5 | years | ​ | ​ | 580 | ​ | ​ | (377) | ​ | ​ | 203
Patents |  | 6 | years | ​ |  | 2,972 | ​ |  | (2,884) | ​ |  | 88
Other |  | 8 | years | ​ |  | 387 | ​ |  | (371) | ​ |  | 16
Total |  | ​ |  | ​ | $ | 5,816 |  | $ | (4,570) | ​ | $ | 1,246
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:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fiscal Year Ended October 31,
​ | ​ | 2023 | ​ | 2022 | ​ | 2021
(in thousands, except per share amounts) |  | Basic |  | Diluted |  | Basic |  | Diluted |  | Basic |  | Diluted
Net income | ​ | $ | 4,389 | ​ | $ | 4,389 | ​ | $ | 8,226 | ​ | $ | 8,226 | ​ | $ | 6,764 | ​ | $ | 6,764
Undistributed earnings allocated to participating shares | ​ |  | (61) | ​ |  | (61) | ​ |  | (97) | ​ |  | (97) | ​ |  | (76) | ​ |  | (76)
Net income applicable to common shareholders | ​ | $ | 4,328 | ​ | $ | 4,328 | ​ | $ | 8,129 | ​ | $ | 8,129 | ​ | $ | 6,688 | ​ | $ | 6,688
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average shares outstanding | ​ |  | 6,499 | ​ |  | 6,499 | ​ |  | 6,580 | ​ |  | 6,580 | ​ |  | 6,595 | ​ |  | 6,595
Stock options and contingently issuable securities | ​ |  | — | ​ |  | 29 | ​ |  | — | ​ |  | 52 | ​ |  | — | ​ |  | 13
​ | ​ |  | 6,499 | ​ |  | 6,528 | ​ |  | 6,580 | ​ |  | 6,632 | ​ |  | 6,595 | ​ |  | 6,608
Income per share | ​ | $ | 0.67 | ​ | $ | 0.66 | ​ | $ | 1.24 | ​ | $ | 1.23 | ​ | $ | 1.01 | ​ | $ | 1.01

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