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Business activities and summary of significant accounting policies (Tables)

12 Months Ended

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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