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Note 6 - Income (Loss) Per Share
 9 Months Ended
Jul. 31, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 6 –Income (Loss) per share

 

Basic income (loss) per share is computed by dividing net 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. During the three months ended July 31, 2024, we reported a net loss and, in periods with a net loss, the basic loss per share equals the diluted loss per share as all common stock equivalents are excluded from the per share calculation due to their anti-dilutive effect. Potentially issuable securities that are out-of-the-money totaled 846,889 and 814,154 shares for the three months ended July 31, 2024 and 2023, respectively, and 846,889 and 750,967 shares for the nine months ended July 31, 2024 and 2023, respectively, and 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,

  
   

2024

    

2023

    

2024

    

2023

  
                                 

Weighted average shares outstanding for basic earnings per share

     10,495,082       10,290,265       10,466,862       10,267,652  
                                 

Add effects of potentially dilutive securities-assumed exercise of stock options

     -       -       -       -  
                                 

Weighted average shares outstanding for diluted earnings per share

     10,495,082       10,290,265       10,466,862       10,267,652