Separation Accrual
6 Months Ended
Apr. 30, 2013
Separation Accrual [Abstract]  
Separation Accrual

(9)            Separation Accrual

 

During fiscal 2012, the Company incurred various charges related to the separation of certain executives.  During the first quarter of fiscal 2013, the Company incurred a charge of $29,000 included in general and administrative expenses, consisting of an accrual of separation payments for the former chief financial officer of $56,000, reduced by the effect of forfeitures of previously expensed unvested restricted stock award costs. 

 

The following table reconciles activity for accrued separation expenses for the following periods.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months ended April 30,

 

Six Months ended April 30,

(In thousands)

 

2013

 

2012

 

2013

 

2012

Balance, beginning of period

 

$

221 

 

$

30 

 

$

343 

 

$

117 

Severance incurred during the period

 

 

 -

 

 

216 

 

 

56 

 

 

216 

Severance payments

 

 

(92)

 

 

(51)

 

 

(270)

 

 

(138)

Balance, end of period (included in
    employee compensation accrual)

 

$

129 

 

$

195 

 

$

129 

 

$

195