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Note 10 - Business and Credit Concentrations, Major Customers and Geographic Information | 12 Months Ended
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Oct. 31, 2018
Notes to Financial Statements |
Concentration Risk Disclosure [Text Block] |
( 10 ) | Business and Credit Concentrations, Major Customers and Geographic Information
The Company provides credit, in the normal course of business, to various commercial enterprises, governmental entities and not -for-profit organizations. Concentration of credit risk with respect to trade receivables is limited due to the Company’s large number of customers. The Company also manages exposure to credit risk through credit approvals, credit limits and monitoring procedures. Management believes that credit risks as of October 31, 2018 and 2017 have been adequately provided for in the consolidated financial statements. For the year ended October 31, 2018, 32.5% and 11.5%, or approximately $28.6 million and $10.1 million, of consolidated net sales were attributable to two customers. No other customer accounted for more than 10% of consolidated net sales for the year ended October 31, 2018. As of October 31, 2018, the same two customers had outstanding balances payable to the Company totaling 14.5% and 11.7%, respectively, of total consolidated shareholders’ equity. No other customer had an outstanding balance payable to the Company in excess of 5% of total consolidated shareholders’ equity. For the year ended October 31, 2017, 16.4%, or approximately $10.5 million of consolidated net sales were attributable to one customer. No other customer accounted for more than 10% of consolidated net sales for the year ended October 31, 2017. As of October 31, 2017, the same customer had an outstanding balance payable to the Company totaling 8.9% of total consolidated shareholders’ equity. No other customer had an outstanding balance payable to the Company in excess of 5% of total consolidated shareholders’ equity. For the year ended October 31, 2016, 15.1%, or approximately $9.7 million of consolidated net sales were attributable to one customer. No other customer accounted for more than 10% of consolidated net sales for the year ended October 31, 2016. As of October 31, 2016, the same customer had an outstanding balance payable to the Company totaling 8.6% of total consolidated shareholders’ equity. No other customer had an outstanding balance payable to the Company in excess of 5% of total consolidated shareholders’ equity. For the years ended October 31, 2018, 2017 and 2016, approximately 85%, 80% and 80%, respectively, of net sales were from customers in the United States, while approximately 15%, 20% and 20%, respectively, were from customers outside of the United States. Net sales attributable to the United States and all other countries in total for the years ended October 31, 2018, 2017 and 2016 were as follows:
|  | Years ended October 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
United States |  | $ | 74,778,141 |  |  | $ | 51,558,474 |  |  | $ | 51,379,528 |
Outside the United States |  |  | 13,050,449 |  |  |  | 12,534,374 |  |  |  | 13,236,473 |
Total net sales |  | $ | 87,828,590 |  |  | $ | 64,092,848 |  |  | $ | 64,616,001 |
No individual country outside of the United States accounted for more than 10% of total net sales in fiscal years 2018, 2017 or 2016. The Company has a single reportable segment for purposes of segment reporting.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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