Fair Value Measurements

12 Months Ended

Oct. 31, 2012

Fair Value Measurements [Abstract]

Fair Value Measurements

(5)Fair Value Measurements

A hierarchy for inputs used in measuring fair value is in place that distinguishes market data between observable independent market inputs and unobservable market assumptions by the reporting entity.  The hierarchy is intended to maximize the use of observable inputs and minimize the use of unobservable inputs by requiring that the most observable inputs be used when available.  Three levels within the hierarchy may be used to measure fair value:

· Level 1:  Inputs are unadjusted quoted prices in active markets for identical assets and liabilities.

· Level 2:  Inputs include observable data points such as (i) quoted prices for similar assets or liabilities in active markets, (ii) quoted prices for identical or similar assets or liabilities in markets that are not active, and (iii) inputs (other than quoted prices) such as interest rates and yield curves that are directly or indirectly observable for the asset or liability.

· Level 3:  Inputs are generated from model-based techniques that use significant assumptions not observable in the market.  These unobservable assumptions reflect an entity’s own estimates of assumptions that market participants would use in pricing the asset or liability.

The Company’s assets and liabilities measured at fair value on a recurring basis and the fair value hierarchy used to determine these fair values is as follows as of October 31, 2012 and 2011:

			Fair Value Measurements Using
(In thousands)	Total Carrying Value at   October 31		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Assets as of October 31, 2012:
Money market funds (included in   cash and cash equivalents)	$	7,353	$	7,353	$	-	$	-
Available-for-sale securities		-		-		-		-
Assets as of October 31, 2011:
Money market funds (included in   cash and cash equivalents)	$	7,440	$	7,440	$	-	$	-
Available-for-sale securities		723		-		723		-

Available-for-sale securities in the preceding table were classified as short-term in the accompanying consolidated balance sheets.  Available-for-sale securities were carried at fair value based on significant observable inputs other than quoted market prices.  These inputs may include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and other reference data.  There are no unrealized losses for short-term investments as of October 31, 2012 and 2011.