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Basis of Presentation and Description of Business
12 Months Ended
Oct. 31, 2015
Basis of Presentation and Description of Business [Abstract]  
Basis of Presentation and Description of Business

(1)Basis of Presentation and Description of Business

 

The consolidated financial statements include the accounts of MGC Diagnostics Corporation and its wholly-owned subsidiaries Medical Graphics Corporation and Medisoft SA (including MGC Diagnostics Belgium S.P.R.L., the holding company and Medisoft’s next tier wholly-owned subsidiaries).  All inter-company transactions and balances have been eliminated in consolidation.

 

 

MGC Diagnostics Corporation (the “Company”), through its Medical Graphics Corporation and Medisoft SA subsidiaries, designs and markets non-invasive cardiorespiratory diagnostic systems that are sold under the MGC Diagnostics, MedGraphics and Medisoft brand and trade names.  These cardiorespiratory diagnostic systems have a wide range of applications within cardiorespiratory healthcare.

 

Revenues consist of equipment, supply and accessory revenues and services revenues.  Equipment, supply and accessory revenues reflect sales of non-invasive cardiorespiratory diagnostic system equipment and software, and aftermarket sales of software, peripherals and supplies.  Service revenues reflect contract revenues from extended warranties, non-warranty service visits and training.