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Shareholders' Equity (Tables)
12 Months Ended
Oct. 31, 2015
Shareholders' Equity [Abstract]  
Schedule of Stock Option Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Year ended

 

October 31, 2015

 

October 31, 2014

 

 

 

Weighted

 

 

 

Weighted

 

 

 

Average

 

 

 

Average

 

 

 

Exercise

 

 

 

Exercise

 

Shares

 

Price

 

Shares

 

Price

Outstanding at beginning of period

52,650 

 

$

7.01 

 

110,370 

 

$

6.83 

Granted

150,000 

 

 

6.07 

 

22,500 

 

 

9.12 

Exercised

(11,137)

 

 

5.13 

 

(865)

 

 

6.60 

Expired or cancelled

(13,613)

 

 

5.16 

 

(79,355)

 

 

7.37 

Outstanding at end of period

177,900 

 

$

6.48 

 

52,650 

 

$

7.01 

 

Schedule of Stock Options Outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Average

 

 

 

 

 

 

Remaining

 

Number

 

 

Number

 

Contractual

 

Subject to

Exercise Prices

 

Outstanding

 

Life

 

Exercise

$6.07

 

150,000 

 

6.58 

 

 —

6.76

 

5,400 

 

7.03 

 

3,598 

9.12

 

22,500 

 

5.59 

 

7,499 

Total

 

177,900 

 

6.47 

 

11,097 

 

Schedule of Stock Option Valuation Assumptions

 

Options Granted

 

Options Granted

 

May 28, 2015

 

June 1, 2014

Weighted average fair value of options granted

$3.27

 

$5.17

Assumptions used:

 

 

 

Expected life (years)

7.00

 

7.00

Risk-free interest rate

1.25%

 

1.70%

Volatility

53.11%

 

55.78%

Dividend Yield

0.00%

 

0.00%

a)

Expected life:  For employee grants, the expected term of options granted is determined using historical data, the contractual terms of the options granted and other factors.

 

b)

Risk-free interest rate:  The rate is based on the U.S. Treasury zero-coupon yield curve on the grant date for a maturity similar to the expected life of the options.

 

c)

Volatility:  The expected volatility of the Company’s common stock is calculated by using the historical daily volatility of the Company’s stock price calculated over a period of time representative of the expected life of the options.

 

d)

Dividend yield:  The dividend yield rate is not considered in the model, as the Company has not established a dividend policy for the stock and, other than the one-time special dividend the Company paid in April 2013, the Company has not historically paid any dividends.

Schedule of Restricted Stock Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Year ended

 

October 31, 2015

 

October 31, 2014

 

 

 

Weighted

 

 

 

Weighted

 

 

 

Average

 

 

 

Average

 

 

 

Grant Date

 

 

 

Grant Date

 

Shares

 

Fair Value

 

Shares

 

Fair Value

Unvested at beginning of period

57,035 

 

$

8.40 

 

66,094 

 

$

5.88 

Granted

31,261 

 

 

7.03 

 

37,725 

 

 

9.68 

Vested

(38,303)

 

 

8.32 

 

(46,784)

 

 

5.87 

Unvested at end of period

49,993 

 

$

7.61 

 

57,035 

 

$

8.40 

 

Schedule of Pre-Tax Stock-Based Compensation Expense Recognized

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended October 31,

(In thousands)

 

2015

 

2014

Cost of revenues

 

$

4 

 

$

5 

Selling and marketing

 

 

97 

 

 

81 

General and administrative

 

 

389 

 

 

348 

Research and development

 

 

6 

 

 

7 

Stock-based compensation expense

 

$

496 

 

$

441