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Earnings per share | 9 Months Ended
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Jul. 31, 2016
Earnings Per Share [Abstract] |
Earnings per share | Note 7 - Earnings per share Basic earnings (loss) per share is computed by dividing net income (loss) 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. Potentially dilutive securities totaling 1,022,970 and 820,161 for the three months ended July 31, 2016 and 2015, respectively, and 1,084,419 and 820,161 for the nine months ended July 31, 2016 and 2015, respectively, were excluded from the calculation of diluted per share amounts because of their anti-dilutive effect. The following table summarizes the computation of basic and diluted weighted average shares outstanding:
|  | Three Months Ended July 31, |  | Nine Months Ended July 31, |
|  | 2016 |  | 2015 |  | 2016 |  | 2015 |
Weighted average shares outstanding for basic earnings per share |  |  | 8,834,747 |  |  | 8,545,300 |  |  | 8,770,375 |  |  | 8,446,223 |
Add effects of potentially dilutive securities-assumed exercise of stock options |  |  | - |  |  | 371,343 |  |  | - |  |  | 374,215 |
Weighted average shares outstanding for diluted earnings per share |  |  | 8,834,747 |  |  | 8,916,643 |  |  | 8,770,375 |  |  | 8,820,438 |

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