Stock-based compensation and equity transactions (Tables)

9 Months Ended

Jul. 31, 2012

Computation of Weighted Average Fair Value of Employee Stock Options using Black-Scholes Option Pricing Model Assumptions

The weighted average fair value of employee stock options granted by the Company in the nine months ended July 31, 2012 and 2011 was estimated to be $1.23 and $1.08 per share, respectively, using the Black-Scholes option pricing model with the following assumptions:

	2012			2011
Risk-free interest rate		0.41	%		0.68	%
Dividend yield		4.2	%		2.7	%
Expected life of the option		3.9 years			3.5 years
Volatility factor		62.79	%		51.68	%

Summary of Status of Options Granted under Stock Option Plans and Changes in Options Outstanding

A summary of the status of the options granted under the Company’s stock option plans as of July 31, 2012 and the changes in options outstanding during the nine months then ended is presented in the table that follows:

	Shares			Weighted Average Exercise Price
Outstanding at November 1, 2011		2,099,672		$	2.13
Options granted		78,500		$	3.74
Options exercised		(103,788	)	$	1.36
Options canceled or expired		(8,000	)	$	3.22
Options outstanding at July 31, 2012		2,066,384		$	2.22
Options exercisable at July 31, 2012		1,544,140		$	2.06
Options vested and expected to vest at July 31, 2012		3,397,716		$	2.06