|
Condensed Consolidated Statements Of Cash Flows (USD $)
|
12 Months Ended |
|
Oct. 31, 2012
|
Oct. 31, 2011
|
Oct. 31, 2010
|
| Cash flows from operating activities: |
|
|
|
| Net income (loss) |
$ 2,626,200 |
$ 457,499 |
$ (6,010,307) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
|
| Depreciation, amortization and accretion |
2,181,100 |
2,688,150 |
2,955,834 |
| Bad debt expense (recovery) |
(10,327) |
40,231 |
29,798 |
| Deferred income tax expense (benefit) |
(558,770) |
132,097 |
(724,195) |
| Impairment of goodwill |
|
|
5,580,250 |
| Share-based compensation expense |
1,440,534 |
893,354 |
942,711 |
| Impact of excess tax benefits from share-based compensation |
(3,562) |
(152,815) |
|
| (Gain) loss on sale of property and equipment |
6,974 |
3,176 |
(3,180) |
| (Increase) decrease in: |
|
|
|
| Trade accounts receivable |
(1,793,255) |
(178,428) |
(1,156,552) |
| Other receivables |
294,502 |
95,721 |
(173,216) |
| Income taxes refundable |
316,066 |
(61,034) |
1,468,918 |
| Inventories |
(1,966,834) |
(2,074,398) |
(2,116,501) |
| Prepaid expenses and other assets |
(118,948) |
(32,983) |
144,826 |
| Other assets, net |
12,884 |
6,562 |
17,783 |
| Increase (decrease) in: |
|
|
|
| Accounts payable and accrued expenses |
(1,336,095) |
2,230 |
(808,045) |
| Accrued compensation and payroll taxes |
884,587 |
398,630 |
832,954 |
| Income taxes payable |
26,499 |
89,225 |
63,590 |
| Other noncurrent liabilities |
(16,946) |
44,167 |
105,644 |
| Net cash provided by operating activities |
1,984,609 |
2,351,384 |
1,150,312 |
| Cash flows from investing activities: |
|
|
|
| Purchase of and deposits for the purchase of property and equipment |
(1,467,089) |
(1,492,140) |
(511,645) |
| Investment in intangible assets |
(84,314) |
(31,070) |
(29,437) |
| Proceeds from sale of property and equipment |
80 |
35,086 |
8,351 |
| Net cash used in investing activities |
(1,551,323) |
(1,488,124) |
(532,731) |
| Cash flows from financing activities: |
|
|
|
| Payroll taxes withheld and remitted on share-based payments |
(191,117) |
(262,381) |
(120,950) |
| Proceeds from note payable to bank |
6,250,000 |
|
700,000 |
| Principal payments on long-term debt and note payable to bank |
(5,437,485) |
(878,231) |
(166,900) |
| Payments for financing costs |
(25,000) |
(97,405) |
(30,662) |
| Principal payments on related party loans |
|
(110,363) |
|
| Repurchase of common stock |
(1,176,661) |
(846,287) |
(425,345) |
| Impact of excess tax benefits from share-based compensation |
3,562 |
152,815 |
|
| Common stock dividends paid |
(357,060) |
(251,953) |
|
| Net cash used in financing activities |
(933,761) |
(2,293,805) |
(43,857) |
| Net increase (decrease) in cash |
(500,475) |
(1,430,545) |
573,724 |
| Cash at beginning of year |
1,091,513 |
2,522,058 |
1,948,334 |
| Cash at end of year |
591,038 |
1,091,513 |
2,522,058 |
| Supplemental disclosure of cash flow information: |
|
|
|
| Cash payments for interest |
524,936 |
573,475 |
605,468 |
| Income taxes paid (refunded), net |
1,462,886 |
191,009 |
(774,830) |
| Noncash investing and financing activities: |
|
|
|
| Capital expenditures accrued in accounts payable at year end |
177,766 |
109,896 |
25,734 |
| Common stock dividends declared and included in accounts payable and accrued expenses at year end |
$ 96,327 |
$ 62,936 |
$ 62,802 |