Note 6 - (Loss) Earnings Per Share

9 Months Ended

Jul. 31, 2020

Note

–

(Loss) e

arnings

per share

Basic (loss) earnings per share is computed by dividing net (loss) income by the weighted average number of common shares outstanding during the period. Diluted (loss) earnings per share is computed by dividing net (loss) 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 issuable securities totaling

402,838

and

124,097

shares for the

three

months ended

July 31, 2020

and

2019,

respectively, and

402,838

and

124,097

shares for the

nine

months ended

July 31, 2020

and

2019,

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,
	2020		2019		2020		2019

Weighted average shares outstanding for basic (loss) earnings per share		9,714,700		9,363,528		9,661,054		9,343,067

Add effects of potentially dilutive securities-assumed exercise of stock options		-		509,371		-		506,822

Weighted average shares outstanding for diluted (loss) earnings per share		9,714,700		9,872,899		9,661,054		9,849,889