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1. Description of Business and Significant Accounting Policies: Net Income Per Share Information (Policies)

12 Months Ended

Oct. 31, 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 is based on the sum of the weighted average number of common shares outstanding and common stock equivalents. Shares used to calculate net income per share for fiscal years 2014 and 2013 are as follows:

	2014	2013

Basic weighted average shares outstanding	7,457,915	7,263,626
Effect of dilutive stock options	285,978	502,311
Diluted weighted average shares outstanding	7,743,893	7,765,937

Weighted average shares which are not included in the calculation of diluted net income per share because their impact is anti-dilutive
Stock options	630,522	325,000

Weighted average options to purchase 630,522 and 325,000 shares of common stock at prices ranging from $2.73 to $5.00 per share that were outstanding during 2014 and 2013 were excluded from each respective year’s computation of diluted earnings per share. In each of these years, such options’ exercise prices exceeded the average market price of our common stock, thereby causing the effect of such options to be anti-dilutive.

- 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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