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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

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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