Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income and Comprehensive Income (Unaudited)

v3.20.2
Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Jul. 31, 2020
Jul. 31, 2019
Jul. 31, 2020
Jul. 31, 2019
Income Statement [Abstract]        
Net Revenues $ 5,396,036 $ 6,668,498 $ 15,366,233 $ 19,210,278
Cost of Revenues 1,776,868 2,120,680 5,547,211 6,404,726
Gross Profit 3,619,168 4,547,818 9,819,022 12,805,552
OPERATING EXPENSES        
Research & Development 772,641 631,690 2,414,547 1,948,243
Selling, General & Administrative 1,525,469 1,775,909 4,950,357 5,091,866
Total Operating Expenses 2,298,110 2,407,599 7,364,904 7,040,109
INCOME FROM OPERATIONS 1,321,058 2,140,219 2,454,118 5,765,443
OTHER INCOME (EXPENSE)        
Other Income 3,871 6,398 16,384 65,467
Interest Expense (16,580) (20,275) (54,650) (69,683)
Total Other Expense (12,709) (13,877) (38,266) (4,216)
NET INCOME BEFORE INCOME TAXES 1,308,349 2,126,342 2,415,852 5,761,227
INCOME TAX BENEFIT (EXPENSE)        
Current Tax Benefit (Expense) 1,584 (38) 13,063 77,954
Deferred Tax Expense (287,180) (350,617) (324,469) (850,987)
Total Income Tax Expense (285,596) (350,655) (311,406) (773,033)
NET INCOME $ 1,022,753 $ 1,775,687 $ 2,104,446 $ 4,988,194
NET INCOME PER SHARE:        
Basic $ 0.10 $ 0.17 $ 0.20 $ 0.47
Diluted $ 0.09 $ 0.17 $ 0.19 $ 0.47
WEIGHTED AVERAGE SHARES:        
Basic 10,739,354 10,679,876 10,727,705 10,670,642
Diluted 11,291,354 10,679,876 11,279,705 10,670,642
NET INCOME $ 1,022,753 $ 1,775,687 $ 2,104,446 $ 4,988,194
Foreign Currency Translation Adjustment 674,879 (1,458,315) 205,645 (1,065,479)
Total Other Comprehensive Income (Loss) 674,879 (1,458,315) 205,645 (1,065,479)
COMPREHENSIVE INCOME $ 1,697,632 $ 317,372 $ 2,310,091 $ 3,922,715