Stock-based compensation and equity transactions (Tables)

9 Months Ended

Jul. 31, 2014

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

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

The weighted average fair value of employee and non-employee directors stock options granted by the Company during the nine months ended July 31, 2014 and 2013 was estimated to be $1.99 and $1.12 per share, respectively, using the Black-Scholes option pricing model with the following assumptions:

	2014			2013
Risk-free interest rate		1.11	%		0.36	%
Dividend yield		4.38	%		4.17	%
Expected life of the option		5.0 years			3.5 years
Volatility factor		52.9	%		42.85	%

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, 2014 and the changes in options outstanding during the nine months then ended is presented in the table that follows:

			Weighted
			Average
	Shares		Exercise Price
Outstanding at November 1, 2013		988,215	$	2.24
Options granted		228,903	$	6.39
Options exercised		(185,183)	$	2.83
Options canceled or expired		(67,503)	$	2.10
Options outstanding at July 31, 2014		964,432	$	3.12
Options exercisable at July 31, 2014		648,682	$	1.91
Options vested and expected to vest at July 31, 2014		957,535	$	3.10