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Business activities and summary of significant accounting policies (Tables) | 12 Months Ended
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Oct. 31, 2019
Business activities and summary of significant accounting policies |
Components of Intangible Assets | Intangible assets consist of the following as of October 31, 2019 and 2018 (in thousands):
|  | 2019 |  | 2018
Amortizable intangible assets: |  |  |  |  |  |
Customer relationships (estimated lives 7 - 15 years) |  | $ | 2,879 |  | $ | 2,879
Accumulated amortization |  |  | (1,884) |  |  | (1,619)
|  |  | 995 |  |  | 1,260
Patents (estimated life 14 years) |  |  | 142 |  |  | 142
Accumulated amortization |  |  | (45) |  |  | (35)
|  |  | 97 |  |  | 107
Totals |  | $ | 1,092 |  | $ | 1,367
Non-amortizable intangible assets: |  |  |  |  |  |
Trademarks |  | $ | 657 |  | $ | 657
Estimated Amortization Expense Related To Finite Lived Intangible Assets | Estimated amortization expense related to finite lived intangible assets is as follows (in thousands):
Year ending |  |  |
October 31, |  | Amount
2020 |  | $ | 275
2021 |  |  | 136
2022 |  |  | 89
2023 |  |  | 79
2024 |  |  | 79
Thereafter |  |  | 434
Total |  | $ | 1,092
Calculation of Basic And Diluted Earnings Per Share | The following table summarizes the computation of basic and diluted earnings per share:
|  | 2019 |  | 2018
Numerators: |  |  |  |  |  |
Consolidated net income (A) |  | $ | 3,521,000 |  | $ | 5,846,000
Denominators: |  |  |  |  |  |
Weighted average shares outstanding for basic earnings per share (B) |  |  | 9,358,836 |  |  | 9,105,406
Add effects of potentially dilutive securities - assumed exercise of stock options |  |  | 495,768 |  |  | 487,660
Weighted average shares outstanding for diluted earnings per share (C) |  |  | 9,854,604 |  |  | 9,593,066
Basic earnings per share (A)/(B) |  | $ | 0.38 |  | $ | 0.64
Diluted earnings per share (A)/(C) |  | $ | 0.36 |  | $ | 0.61

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