Equity Matters (Tables)

9 Months Ended

Jul. 31, 2014

Equity [Abstract]

Schedule of stock option activity

Activity in the Company’s incentive plan for the nine months ended July 31, 2014 and 2013 was as follows:

	Number of Shares		Weighted Average Exercise Price Per Share	Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Options outstanding at November 1, 2012	362,085		$9.99
Options:
Granted	—		$0.00
Exercised	(28,334	)	$5.69
Canceled	(78,149	)	$12.45
Outstanding at July 31, 2013	255,602		$9.71	6.27	$863
Options exercisable at July 31, 2013	198,937		$9.62	5.77	$694
Options outstanding at November 1, 2013	236,134		$9.93
Options:
Granted	—		$0.00
Exercised	(88,363	)	$9.83
Canceled	(12,333	)	$7.19
Outstanding at July 31, 2014	135,438		$9.79	5.51	$976
Options exercisable at July 31, 2014	125,771		$9.93	5.37	$890

Reconciliation of the numerator and denominator of earnings per share

The following is a reconciliation of the numerator and denominator of the basic and diluted earnings per share computation for net income per share:

(Shares in thousands)	Three Months Ended July 31,				Nine Months Ended July 31,
	2014		2013		2014		2013
Net income available to common stockholders	$	8,349	$	5,282	$	21,417	$	15,115
Basic weighted average shares	17,118		17,007		17,081		16,998
Effect of dilutive securities:
Stock options	57		44		76		47
Diluted weighted average shares	17,175		17,051		17,157		17,045
Basic income per share	$	0.49	$	0.31	$	1.25	$	0.89
Diluted income per share	$	0.49	$	0.31	$	1.25	$	0.89