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Consolidated Statements of Income (USD $)
3 Months Ended 6 Months Ended
Apr. 30, 2012
Apr. 30, 2011
Apr. 30, 2012
Apr. 30, 2011
Revenues $ 3,532,004 $ 3,364,691 $ 6,995,788 $ 6,875,087
Cost of revenues 1,503,623 1,474,695 3,179,401 2,974,282
Research and development 117,594 76,315 213,332 151,475
Selling, general, and administrative expenses 1,274,161 1,343,009 2,512,511 2,617,537
Total costs and expenses 2,895,378 2,894,019 5,905,244 5,743,294
Income from operations 636,626 470,672 1,090,544 1,131,793
Interest expense - related party 72,223 339,559 146,051 690,564
Income before income taxes 564,403 131,113 944,493 441,229
Provision for income taxes 5,000 9,563 5,000 9,563
Net income $ 559,403 $ 121,550 $ 939,493 $ 431,666
Net income per common share - basic $ 0.08 $ 0.03 $ 0.13 $ 0.09
Net income per common share - diluted $ 0.07 $ 0.02 $ 0.12 $ 0.08
Weighted average number of common shares outstanding - basic 7,178,140 4,709,875 7,176,624 4,700,509
Weighted average number of common shares outstanding - diluted 8,006,908 5,526,169 8,003,504 5,500,496