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Concentration of Credit Risk
 6 Months Ended
Apr. 30, 2012
Concentration of Credit Risk

Note 7 - Concentration of Credit Risk

 

One customer accounted for approximately 14% of the Company’s net sales for the three and six month periods ended April 30, 2012. This same customer accounted for approximately 19% and 20% of the Company’s net sales for the three and six month periods ended April 30, 2011, respectively. Although this customer has been an on-going major customer of the Company continuously during the past thirteen years, the written agreements with this customer do not have any minimum purchase obligations and the customer could stop buying the Company’s products at any time and for any reason. A reduction, delay or cancellation of orders from this customer or the loss of this customer could significantly reduce the Company’s revenues and profits.