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Income tax provision (Tables)

12 Months Ended

Oct. 31, 2019

Income tax provision

Summary of Reconciliation Provision (Benefit) for Income taxes

Reconciliation of provision (benefit) for income taxes for the years ended October 31, 2019 and 2018 are as follows (in thousands):

		2019			2018
Continuing operations		$	1,036		$	1,468
Discontinued operations			—			(41)
Net income		$	1,036		$	1,427

Schedule of components of income tax expense (benefit)

The provision (benefit) for income taxes for the fiscal years ended October 31, 2019 and 2018 consists of the following (in thousands):

		2019			2018
Current:
Federal		$	859		$	1,344
State			220			236
			1,079			1,580
Deferred:
Federal			(25)			(112)
State			(18)			—
			(43)			(112)
		$	1,036		$	1,468

Schedule of Effective Income Tax Rate and Amount Reconciliation

Income tax at the federal statutory rate is reconciled to the Company’s actual net provision for income taxes as follows (in thousands, except percentages):

		2019					2018
					% of Pretax					% of Pretax
		Amount			Income		Amount			Income
Income taxes at federal statutory rate		$	957		21.0	%	$	1,737		38.1	%
State tax provision, net of federal tax benefit			160		3.5	%		170		3.7	%
Nondeductible differences:
Rel-Tech earn-out			—		0.0	%		(6)		(0.1)	%
Qualified domestic production activities deduction			—		0.0	%		(141)		(3.1)	%
Stock options			21		0.5	%		(204)		(4.5)	%
Meals and entertainment			8		0.2	%		8		0.2	%
R&D credits			(119)		(2.6)	%		(111)		(2.4)	%
ASC 740-10 Liability			21		0.5	%		54		1.2	%
Tax Cut and Jobs Act			—		0.0	%		(34)		(0.7)	%
Other			(12)		(0.3)	%		(5)		(0.1)	%
		$	1,036		22.8	%	$	1,468		32.3	%

Schedule of deferred tax assets and liabilities

The Company’s total deferred tax assets and deferred tax liabilities at October 31, 2019 and 2018 are as follows (in thousands):

		2019			2018
Deferred Tax Assets:
Reserves		$	172		$	276
Accrued vacation			97			116
Stock-based compensation awards			87			113
Uniform capitalization			64			78
Other			55			93
Total deferred tax assets			475			676
Deferred Tax Liabilities:
Amortization / intangible assets			(307)			(544)
Depreciation / equipment and furnishings			(125)			(132)
Total deferred tax liabilities			(432)			(676)
Total net deferred tax assets (liabilities)		$	43		$	—

Summary of Income Tax Contingencies [Table Text Block]

The Company’s adjustments to its uncertain tax positions in fiscal years ended October 31, 2019 and 2018 are as follows:

		2019			2018
Balance, at beginning of year		$	59		$	—
Increase for tax positions related to the current year			23			24
Increase for tax positions related to prior years			3			29
Increase for interest and penalties			2			6
Statute of Limitations Expirations			(7)			—
Balance, at end of year		$	80		$	59

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- Definition

Tabular disclosure of the reconciliation using percentage and dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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