|
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
|
3 Months Ended |
|
Jan. 31, 2015
|
Jan. 31, 2014
|
| Cash flows from operating activities: |
|
|
| Net loss |
$ (252,177) |
$ (443,672) |
| Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion |
491,091 |
478,576 |
| Bad debt recovery |
(26,411) |
(7,255) |
| Deferred income tax expense |
225,901 |
36,366 |
| Share-based compensation expense |
250,494 |
155,412 |
| Impact of excess tax benefits from share-based compensation |
(78,192) |
(3,299) |
| Loss on sale of property and equipment |
4,776 |
990 |
| (Increase) decrease in: |
|
|
| Trade accounts receivable |
5,048,910 |
1,253,759 |
| Other receivables |
(9,213) |
84,086 |
| Income taxes refundable |
(153,799) |
(292,379) |
| Inventories |
(884,491) |
(977,758) |
| Prepaid expenses |
(62,309) |
(202,205) |
| Other assets |
16,341 |
|
| Increase (decrease) in: |
|
|
| Accounts payable and accrued expenses |
(1,692,249) |
792,524 |
| Accrued compensation and payroll taxes |
(1,382,918) |
117,684 |
| Income taxes payable |
(601,071) |
|
| Other noncurrent liabilities |
(151,457) |
(77,714) |
| Net cash provided by operating activities |
743,226 |
915,115 |
| Cash flows from investing activities: |
|
|
| Purchase of and deposits for the purchase of property and equipment |
(927,983) |
(205,335) |
| Investment in intangible assets |
(25,922) |
(21,090) |
| Net cash used in investing activities |
(953,905) |
(226,425) |
| Cash flows from financing activities: |
|
|
| Payroll taxes withheld and remitted on share-based payments |
(191,736) |
(21,277) |
| Proceeds from note payable to bank |
1,000,000 |
|
| Principal payments on long-term debt and note payable to bank |
(565,751) |
(562,935) |
| Repurchase of common stock |
(373,982) |
|
| Impact of excess tax benefits from share-based compensation |
78,192 |
3,299 |
| Common stock dividends paid |
(136,931) |
(131,518) |
| Net cash used in financing activities |
(190,208) |
(712,431) |
| Net decrease in cash |
(400,887) |
(23,741) |
| Cash at beginning of period |
1,089,507 |
750,303 |
| Cash at end of period |
$ 688,620 |
$ 726,562 |