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

9 Months Ended

Jul. 31, 2017

Policies

Net Income Per Share Information

Net Income per Share Information

Basic net income per share is computed based on the weighted average number of shares outstanding. Diluted earnings per share is computed similarly to basic earnings per share, except that it reflects the effect of common shares issuable upon exercise of stock options, using the treasury stock method in periods in which they have a dilutive effect. 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  July 31,		For the nine months ended  July 31,
	2017	2016	2017	2016
Basic Weighted average shares outstanding	7,696,091	7,690,199	7,693,069	7,676,170
Effect of dilutive stock options	-	61,284	-	49,163
Diluted weighted average shares outstanding	7,696,091	7,751,483	7,693,069	7,725,333
Weighted average shares which are not included in the calculation of diluted net income per share because their impact is anti-dilutive. These shares consist of stock options.	1,454,000	917,500	1,454,000	991,500