XML 64 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings per share
 9 Months Ended
Jul. 31, 2012
Earnings per share

Note 5 - Earnings per share

 

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding increased by the effects of assuming that other potentially dilutive securities (such as stock options) outstanding during the period had been exercised and the treasury stock method had been applied. At July 31, 2012, the effects of the assumed exercise of options to purchase 749,229 shares of the Company’s common stock, at a price range of $3.16 to $3.91 per share, were not included in the computation of diluted per share amounts because they were anti-dilutive for that purpose. At July 31, 2011, the effects of the assumed exercise of options to purchase 420,008 shares of the Company’s common stock, at a price of $3.75 to $3.78 per share, were not included in the computation of diluted per share amounts because they were anti-dilutive for that purpose.

 

The following table summarizes the computation of basic and diluted weighted average shares outstanding:

 

    Three Months Ended July 31     Nine Months Ended July 31  
    2012     2011     2012     2011  
                         
Weighted average shares outstanding for basic net earnings per share     6,867,073       6,486,577       6,914,450       6,131,944  
                                 
Add effects of potentially dilutive securities -assumed exercise of stock options     758,012       976,592       743,096       954,052  
                                 
Weighted average shares for diluted net earnings per share     7,625,085       7,463,169       7,657,546       7,085,996