Stock-based compensation and equity transactions (Tables)

6 Months Ended

Apr. 30, 2015

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 six months ended April 30, 2015 and 2014 was estimated to be $1.00 and $1.99 per share, respectively, using the Black-Scholes option pricing model with the following assumptions:

	2015			2014
Risk-free interest rate		0.89	%		1.11	%
Dividend yield		6.38	%		4.38	%
Expected life of the option		3.5 years			5.0 years
Volatility factor		47.3	%		52.9	%

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 April 30, 2015 and the changes in options outstanding during the six months then ended is presented in the table that follows:

		Weighted
		Average
	Shares	Exercise Price
Outstanding at November 1, 2014	1,044,932	$	3.27
Options granted	181,039	$	4.39
Options exercised	(1,337)	$	3.16
Options canceled or expired	(8,944)	$	3.99
Options outstanding at April 30, 2015	1,215,690	$	3.43
Options exercisable at April 30, 2015	777,378	$	2.49
Options vested and expected to vest at April 30, 2015	1,207,400	$	3.41