EARNINGS PER SHARE

3 Months Ended

Jan. 31, 2023

EARNINGS PER SHARE

EARNINGS PER SHARE

5.    EARNINGS PER SHARE

Per share results have been computed based on the average number of common shares outstanding over the period in question.  The computation of basic and diluted net income per share is determined using net income applicable to common shareholders as the numerator and the number of shares outstanding as the denominator as follows (in thousands, except per share amounts):

	Three Months Ended
	January 31,
	2023				2022
	Basic		Diluted		Basic		Diluted
Net income	$	1,330	$	1,330	$	3,535	$	3,535
Undistributed earnings allocated to participating shares		(18)		(18)		(39)		(39)
Net income applicable to common shareholders	$	1,312	$	1,312	$	3,496	$	3,496
Weighted average shares outstanding		6,583		6,583		6,616		6,616
Stock options and contingently issuable securities		—		39		—		26
		6,583		6,622		6,616		6,642
Income per share	$	0.20	$	0.20	$	0.53	$	0.53