Restructuring of Operations (Tables)

9 Months Ended

Jul. 31, 2012

Restructuring of Operations [Abstract]

Costs incurred with respect to restructuring, integration and asset impairment charges

In fiscal 2010 and 2011, the Company recorded charges related to a restructuring and profitability enhancement plan. This plan was implemented to effectuate certain key initiatives and was an integral component of the Second Amendment and Waiver to the Credit Agreement among the Company, Fifth Third Bank, as Lender, L/C Issuer and Administrative Agent for Lenders and other Lenders dated March 31, 2010 (the "Second Amendment"). These actions were taken to comply with the provisions and targeted covenants of the Second Amendment and to address the impact of the global economic crisis on the Company. The Company may incur additional costs in future periods to address the ongoing and fluid nature of the economic crisis, and may incur costs pursuant to certain initiatives being reviewed in accordance with the provisions of the Forbearance Agreement and Limited Forbearance Agreement. The amount of future charges is currently not estimable by the Company.

The following information summarizes the costs incurred with respect to restructuring, integration and asset impairment charges during the three and nine months ended July 31, 2012 and 2011, as well as the cumulative total of such costs representing fiscal 2010 and fiscal 2011, there were no costs incurred in the first two quarters of 2012, the charges in the third quarter of 2012 are further described below, and such costs are included as a component of the printing segment:

		Three Months Ended July 31, 2012		Three Months Ended July 31, 2011		Nine Months Ended July 31, 2012		Nine Months Ended July 31, 2011		Cumulative Total
Occupancy and equipment related costs	$	-	$	-	$	-	$	123,553	$	1,618,965
Costs incurred to streamline production, personnel and other		48,038		-		48,038		97,105		612,764
Inventory		-		-		-		28,851		200,380
Total	$	48,038	$	-	$	48,038	$	249,509	$	2,432,109

The activity pertaining to the Company's accruals related to restructuring and other charges since October 31, 2011, including additions and payments made are summarized below:

		Occupancy and equipment related costs		Costs incurred to streamline production, personnel and other		Total

Balance at October 31, 2011	$	865,849	$	55,575	$	921,424
2012 expenses		-		48,038		48,038
Paid in 2012		(267,371)		(48,876)		(316,247)

Balance at July 31, 2012	$	598,478	$	54,737	$	653,215

- Definition

Tabular disclosure of restructuring and related costs by type of restructuring including the description of the restructuring costs, such as the expected cost; the costs incurred during the period; the cumulative costs incurred as of the balance sheet date; the income statement caption within which the restructuring charges recognized for the period are included; and changes to an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost.

+ References+ Details

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References+ Details