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2. Basis of Presentation and Significant Accounting Policies: Net Income Per Share Information (Policies)

6 Months Ended

Apr. 30, 2014

Net Income per Share Information

Basic net income per share is computed based on the weighted average number of shares outstanding. Diluted net income per share gives effect to all diluted potential common shares outstanding and common stock equivalents during the period using the treasury stock method. The Company’s 2009 Stock Incentive Plan allows for a cashless exercise. Shares used to calculate net income per share are as follows:

	For the three months ended		For the six months ended
	April 30,		April 30,
	2014	2013	2014	2013

Basic weighted average shares outstanding	7,428,137	7,215,632	7,385,626	7,204,200
Effect of dilutive stock options	281,320	628,646	273,802	638,011
Diluted weighted average shares outstanding	7,709,457	7,844,278	7,659,428	7,842,211

Weighted average shares which are not included in the calculation of diluted net income per share because their impact is anti-dilutive	572,680	588,854	580,197	579,488

- Definition

Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.

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