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Income taxes (Tables)
 12 Months Ended
Oct. 31, 2012
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes consists of the following:

 

    2012     2011  
Current:                
Federal   $ 1,330,935     $ 318,148  
State     314,863       43,744  
      1,645,798       361,892  
Deferred:                
Federal     (141,892 )     24,540  
State     (3,419 )     (7,600 )
      (145,311 )     16,940  
                 
Totals   $ 1,500,487     $ 378,832  
Schedule of Effective Income Tax Rate Reconciliation

 

Income tax at the Federal statutory rate is reconciled to the Company's actual net provision for income taxes as follows:

 

    2012     2011  
    Amount     % of Pretax
Income		     Amount     % of Pretax
Income		  
                         
Income tax at Federal statutory rate   $ 1,397,891       34.0 %   $ 392,500       34.1 %
State tax provision, net of Federal tax benefit     229,928       5.6       23,855       2.1  
Nondeductible differences:                                
ISO stock options, net     7,182       0.2       16,297       1.4  
Business acquisition costs     -       -       131,504       11.4  
Qualified domestic production deduction     (46,121 )     (1.1 )     -       -  
Other     36,252       0.9       -       -  
Uncertain tax positions     (79,223 )     (1.9 )     (116,284 )     (10.1 )
R&D credit     -       -       (86,166 )     (7.5 )
Other     (45,422 )     (1.2 )     17,126       1.5  
Provision for income taxes   $ 1,500,487       36.5 %   $ 378,832       32.9 %
Schedule of Deferred Tax Assets and Liabilities

The Company's total deferred tax assets and deferred tax liabilities at October 31, 2012 and 2011 are as follows:

 

    2012     2011  
Current Assets:                
Allowance for doubtful accounts   $ 37,500     $ 40,000  
Inventory obsolescence     65,700       58,600  
Accrued vacation     154,000       114,100  
State income taxes     118,400       19,700  
Stock based compensation awards     235,600       209,600  
Section 263A costs     128,800       132,800  
Other     20,966       35,900  
Total current assets     760,966       610,700  
                 
Long-Term Assets:                
Amortization / intangible assets     103,400       116,900  
                 
Long-Term Liabilities:                
Amortization / intangible assets     (799,400 )     (880,600 )
Depreciation / equipment and furnishings     (381,157 )     (308,500 )
Net long-term deferred tax liabilities     (1,077,157 )     (1,072,200 )
                 
Total deferred tax liabilities   $ (316,191 )   $ (461,500 )
Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follow:

 

Balance at November 1, 2010   $ 216,171  
Lapse of statute of limitations- tax positions in prior period     (136,948 )
Balance at October 31, 2011     79,223  
Lapse of statute of limitations - tax positions in prior period     (79,223 )
Balance at October 31, 2012   $ -