Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income and Comprehensive Income (Unaudited)

v3.22.2.2
Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Jul. 31, 2022
Jul. 31, 2021
Jul. 31, 2022
Jul. 31, 2021
Income Statement [Abstract]        
Net Revenues $ 6,267,409 $ 5,827,375 $ 17,090,455 $ 16,250,910
Cost of Revenues 1,704,765 1,614,966 5,336,171 4,973,975
Gross Profit 4,562,644 4,212,409 11,754,284 11,276,935
OPERATING EXPENSES        
Research & Development 577,953 675,766 1,768,221 1,904,186
Selling, General & Administrative 1,960,978 2,213,821 6,116,085 5,824,046
Total Operating Expenses 2,538,931 2,889,587 7,884,306 7,728,232
INCOME FROM OPERATIONS 2,023,713 1,322,822 3,869,978 3,548,703
OTHER INCOME (EXPENSE)        
Other Income 19,744 3,571 114,236 75,070
Funding from Paycheck Protection Program 648,872
Interest Expense (6,145) (2,902) (17,442)
Total Other Income (Expense) 19,744 (2,574) 111,334 706,500
INCOME BEFORE INCOME TAX EXPENSE 2,043,457 1,320,248 3,981,312 4,255,203
INCOME TAX (EXPENSE) BENEFIT        
Current Tax (Expense) Benefit (326,732) 418,329 (503,191) 753,017
Deferred Tax Benefit (Expense) 51,932 (217,491) 119,087 (150,357)
Total Income Tax (Expense) Benefit (274,800) 200,838 (384,104) 602,660
NET INCOME $ 1,768,657 $ 1,521,086 $ 3,597,208 $ 4,857,863
NET INCOME PER SHARE:        
Basic $ 0.16 $ 0.14 $ 0.33 $ 0.45
Diluted $ 0.16 $ 0.13 $ 0.32 $ 0.43
WEIGHTED AVERAGE SHARES:        
Basic 10,858,302 10,830,183 10,857,724 10,786,107
Diluted 11,375,141 11,342,684 11,374,563 11,298,608
Foreign Currency Translation Adjustment $ (805,157) $ (260,681) $ (2,830,758) $ 963,644
Total Other Comprehensive Income (Loss) (805,157) (260,681) (2,830,758) 963,644
COMPREHENSIVE INCOME $ 963,500 $ 1,260,405 $ 766,450 $ 5,821,507