Stock Based Benefit Plans (Tables)

9 Months Ended

Jul. 31, 2011

Stock Based Benefit Plans (Tables) [Abstract]

weighted-average assumptions and the fair value used for stock option grants

The weighted-average assumptions and the fair value used for stock option grants in fiscal 2011 and 2010 were as follows:

	2011	2010
Expected volatility	45.38% – 49.46%	46.74% – 51.41%
Weighted-average volatility	47.73%	49.51%
Risk-free interest rate	1.64% – 3.09%	2.15% – 3.47%
Expected life (years)	4.29 – 8.75	4.44 – 8.69
Dividends	none	none
Weighted-average grant date fair value per share of options granted	$7.94	$7.63

Stock compensation expense and related income tax benefits related to stock options recognized

Stock compensation expense and related income tax benefits related to stock options recognized for the nine-month and three-month periods ended July 31, 2011 and 2010, for the twelve months ended October 31, 2010 and estimated amounts for the twelve months ended October 31, 2011 are as follows (amounts in thousands):

	2011			2010
Nine months ended July 31:
Stock-compensation expense recognized	$	7,307		$	7,683
Income tax benefit related to stock option grants (a)		—		$	2,689
Three months ended July 31:
Stock-compensation expense recognized	$	1,402		$	1,399
Income tax benefit related to stock option grants (a)		—		$	496
Twelve months ended October 31:
Stock-compensation expense recognized	$	8,659	(b)	$	9,332
Income tax benefit related to stock option grants (a)		—	(b)	$	3,266

(a)	Due to the losses recognized by the Company over the past several years and its inability to forecast future pre-tax profits, the Company has not recognized or estimated a tax benefit on its stock based compensation expense in the fiscal 2011 periods.
(b)	Estimated

Performance - Based Restricted Stock Units

Information regarding the issuance, valuation assumptions, amortization and unamortized balances of the Company’s Performance-Based RSUs in and at the relevant periods and dates in fiscal 2011 and 2010 is as follows:

	2011			2010
Performance-Based RSUs issued:
Number issued		306,000			200,000
Closing price of the Company’s common stock on date of issuance	$	19.32		$	18.38
Target price	$	25.12		$	23.89
Volatility		48.22	%		49.92	%
Risk-free interest rate		1.99	%		2.43	%
Expected life	3.0 years			3.0 years
Aggregate fair value of Performance-Based RSUs issued (in thousands)	$	4,994		$	3,160
Performance-Based RSU expense recognized (in thousands):
Nine months ended July 31,	$	2,718		$	1,554
Three months ended July 31,	$	983		$	567

	2011		2010
At July 31:
Aggregate outstanding Performance-Based RSUs		706,000		400,000
Cumulative unamortized value of Performance-Based RSUs (in thousands)	$	5,912	$	4,202

Non-Performance Based Restricted Stock Units

In December 2010 and 2009, the Company issued restricted stock units (“RSUs”) relating to shares of the Company’s common stock to several employees. These RSUs generally vest in annual installments over a four-year period. The value of the RSUs was determined to be equal to the number of shares of the Company’s common stock to be issued pursuant to the RSUs, multiplied by the closing price of the Company’s common stock on the NYSE on the date the RSUs were awarded. Information regarding these RSUs is as follows:

	2011		2010
RSUs issued:
Number issued		15,497		19,663
Closing price of the Company’s common stock on date of issuance	$	19.32	$	18.38
Aggregate fair value of RSUs issued (in thousands)	$	299	$	361
RSU expense recognized (in thousands):
Nine months ended July 31,	$	105	$	55
Three months ended July 31,	$	39	$	23
At July 31:
Aggregate outstanding RSUs		30,994		19,663
Cumulative unamortized value of RSUs (in thousands)	$	418	$	306