Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income and Comprehensive Income (Unaudited)

v3.22.1
Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Apr. 30, 2022
Apr. 30, 2021
Apr. 30, 2022
Apr. 30, 2021
Income Statement [Abstract]        
Net Revenues $ 4,984,838 $ 5,373,076 $ 10,823,046 $ 10,423,535
Cost of Revenues 1,953,132 1,623,472 3,631,406 3,359,009
Gross Profit 3,031,706 3,749,604 7,191,640 7,064,526
OPERATING EXPENSES        
Research & Development 517,378 645,281 1,190,268 1,228,420
Selling, General & Administrative 2,033,116 1,788,534 4,155,106 3,610,225
Total Operating Expenses 2,550,494 2,433,815 5,345,374 4,838,645
INCOME FROM OPERATIONS 481,212 1,315,789 1,846,266 2,225,881
OTHER INCOME (EXPENSE)        
Other Income 14,497 69,445 94,491 71,499
Funding from Paycheck Protection Program 558,901 648,872
Interest Expense (2,502) (5,108) (2,902) (11,297)
Total Other Income 11,995 623,238 91,589 709,074
INCOME BEFORE INCOME TAX EXPENSE 493,207 1,939,027 1,937,855 2,934,955
INCOME TAX BENEFIT (EXPENSE)        
Current Tax Benefit (Expense) 109,150 309,962 (176,459) 334,688
Deferred Tax Benefit (Expense) 8,946 (41,056) 67,155 67,134
Total Income Tax Benefit (Expense) 118,096 268,906 (109,304) 401,822
NET INCOME $ 611,303 $ 2,207,933 $ 1,828,551 $ 3,336,777
NET INCOME PER SHARE:        
Basic $ 0.06 $ 0.20 $ 0.17 $ 0.31
Diluted $ 0.05 $ 0.20 $ 0.16 $ 0.30
WEIGHTED AVERAGE SHARES:        
Basic 10,857,673 10,772,315 10,857,429 10,763,652
Diluted 11,405,507 11,191,315 11,405,263 11,182,652
Foreign Currency Translation Adjustment $ (2,266,751) $ 298,712 $ (2,025,601) $ 1,224,325
Total Other Comprehensive (Loss) Income (2,266,751) 298,712 (2,025,601) 1,224,325
COMPREHENSIVE (LOSS) INCOME $ (1,655,448) $ 2,506,645 $ (197,050) $ 4,561,102