XML 69 R36.htm IDEA: XBRL DOCUMENT v2.4.0.8

Income Taxes (Tables)

12 Months Ended

Oct. 31, 2013

Income Tax Disclosure [Abstract]

Schedule Of Income Tax Expense (Benefit)

Income tax expense (benefit) for the years ended October 31, 2013, 2012 and 2011 consists of:

Fiscal year ended October 31, 2013		Current				Deferred				Total
U.S. Federal		$	(640,652	)		$	930,956			$	290,304
State		(10,307		)		67,791				$	57,484
Totals		$	(650,959	)		$	998,747			$	347,788
Fiscal year ended October 31, 2012		Current				Deferred				Total
U.S. Federal		$	1,648,945			$	(491,256	)		$	1,157,689
State		167,160				(67,514		)		$	99,646
Totals		$	1,816,105			$	(558,770	)		$	1,257,335
Fiscal year ended October 31, 2011		Current				Deferred				Total
U.S. Federal		$	137,721			$	143,800			$	281,521
State		128,434				(11,703		)		$	116,731
Totals		$	266,155			$	132,097			$	398,252

Schedule Of Effective Income Tax Reconciliation

Reported income tax expense (benefit) for the years ended October 31, 2013, 2012 and 2011 differs from the “expected” tax expense (benefit), computed by applying the U.S. Federal statutory income tax rate of 34% to income (loss) before income taxes as follows:

	Year ended October 31,
	2013				2012				2011
“Expected” tax expense	$	93,605			1,320,402				$	290,955
Increase (reduction) in income tax expense resulting from:
Benefit from domestic manufacturing deduction	—				(177,230		)		(13,702		)
Nondeductible compensation	93,886				—				—
State income taxes, net of federal benefit	39,331				62,936				77,042
Loss of permanent deductions due to NOL carryback	54,907				—				—
Other differences, net	66,059				51,227				43,957
Reported income tax expense	$	347,788			$	1,257,335			$	398,252

Schedule Of Deferred Tax Assets And Liabilities

The tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets and deferred tax liabilities as of October 31, 2013 and 2012 are presented below:

	October 31,
	2013				2012
Deferred tax assets:
Accounts receivable, due to allowances for doubtful accounts and sales returns	$	166,789			$	77,356
Inventories, due to allowance for damaged and slow-moving inventories and additional costs inventoried for tax purposes pursuant to the Tax Reform Act of 1986	951,543				995,304
Liabilities recorded for accrued expenses, deductible for tax purposes when paid	119,054				755,772
Share-based compensation expense	50,541				205,131
Investment in Centric Solutions	137,119				153,631
Net operating loss carryforwards	960,984				951,397
Other	113,579				92,766
Total gross deferred tax assets	2,499,609				3,231,357
Deferred tax liabilities:
Plant and equipment, due to differences in depreciation and capital gain recognition	(687,090		)		(428,010		)
Other receivables, due to accrual for financial reporting purposes	(7,919		)		—
Total gross deferred tax liabilities	(695,009		)		(428,010		)
Net deferred tax asset	$	1,804,600			$	2,803,347

Schedule Of Unrecognized Tax Benefits

A reconciliation of the unrecognized tax benefits for fiscal years 2013 and 2012 follows:

	October 31,
	2013				2012
Unrecognized tax benefits balance at beginning of year	$	221,339			$	205,171
Gross decreases for tax positions of prior years	(23,282		)		(30,055		)
Gross increases for current year tax positions	250				46,223
Unrecognized tax benefits balance at end of year	$	198,307			$	221,339

X

- Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 55

-Paragraph 217

-URI http://asc.fasb.org/extlink&oid=32707879&loc=d3e36027-109320



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 15A

-URI http://asc.fasb.org/extlink&oid=6907707&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration