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Earnings Per Share
6 Months Ended
Apr. 30, 2019
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 10 - EARNINGS PER SHARE:

 

The Company presents “basic” and “diluted” earnings per common share pursuant to the provisions included in the authoritative guidance issued by FASB, “Earnings per Share,” and certain other financial accounting pronouncements. Basic earnings per common share were computed by dividing net income by the sum of the weighted-average number of common shares outstanding. Diluted earnings per common share is computed by dividing the net income by the weighted-average number of common shares outstanding plus the dilutive effect of common shares issuable upon exercise of potential sources of dilution.

 

The weighted average common shares outstanding used in the computation of basic and diluted earnings per share were 5,569,349 for the six and three months ended April 30, 2019 and 5,743,967 and 5,721,635 for the six and three months ended April 30, 2018, respectively. The Company has granted 689,000 options which have not been included in the calculation of diluted earnings per share due to their anti-dilutive nature.