Crystal Rock (CRVP) 10-Q 17 Mar 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Jan. 31, 2015	Mar. 04, 2015
DocumentAndEntityInformationAbstract
Entity Registrant Name	Crystal Rock Holdings, Inc.
Entity Central Index Key	1123316
Document Type	10-Q
Document Period End Date	31-Jan-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-21
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		21,358,411
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Jan. 31, 2015	Oct. 31, 2014
ASSETS:
Cash and cash equivalents	$232,343	$1,841,044
Accounts receivable, trade - net of reserve of $310,949 and $273,346 for 2015 and 2014, respectively	9,801,782	9,717,721
Inventories - net	2,712,426	2,440,364
Current portion of deferred tax asset	359,825	359,825
Other current assets	1,061,677	869,372
TOTAL CURRENT ASSETS	14,168,053	15,228,326
PROPERTY AND EQUIPMENT - net	7,041,755	7,088,620
OTHER ASSETS:
Goodwill	12,156,790	12,156,790
Other intangible assets - net	2,598,701	2,783,424
Deferred tax asset	73,492	73,492
Other assets	39,000	39,000
TOTAL OTHER ASSETS	14,867,983	15,052,706
TOTAL ASSETS	36,077,791	37,369,652
LIABILITIES AND STOCKHOLDERS' EQUITY
Line of credit	941,853	500,000
Current portion of long term debt	1,576,188	1,631,424
Accounts payable	3,472,292	3,920,196
Accrued expenses	2,154,501	2,559,937
Current portion of customer deposits	630,398	631,836
Current portion of unrealized loss on derivatives	22,804	27,480
TOTAL CURRENT LIABILITIES	8,798,036	9,270,873
Long term debt, less current portion	6,547,632	6,940,488
Deferred tax liability	4,149,003	4,149,003
Subordinated debt	10,000,000	10,000,000
Customer deposits, less current portion	2,443,030	2,446,305
Long term portion of unrealized loss on derivatives	888	1,036
TOTAL LIABILITIES	31,938,589	32,807,705
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Common stock - $.001 par value, 50,000,000 authorized shares, 21,960,229 issued and 21,358,411 outstanding shares as of January 31, 2015 and October 31, 2014	21,960	21,960
Additional paid in capital	58,467,677	58,466,706
Treasury stock, at cost, 601,818 shares as of January 31, 2015 and October 31, 2014	-900,360	-900,360
Accumulated deficit	-53,435,859	-53,009,249
Accumulated other comprehensive loss, net of tax	-14,216	-17,110
TOTAL STOCKHOLDERS' EQUITY	4,139,202	4,561,947
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$36,077,791	$37,369,652

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jan. 31, 2015	Oct. 31, 2014
STOCKHOLDERS' EQUITY:
Common stock, par value	$0.00	$0.00
Common stock, Authorized	50,000,000	50,000,000
Common stock, Issued	21,960,229	21,960,229
Common stock, outstanding	21,358,411	21,358,411
Treasury stock, shares	601,818	601,818

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME (Unaudited) (USD $)	3 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
Condensed Consolidated Statements Of Loss Income
NET SALES	$17,697,928	$18,431,514
COST OF GOODS SOLD	9,663,461	10,079,099
GROSS PROFIT	8,034,467	8,352,415
OPERATING EXPENSES:
Selling, general and administrative expenses	7,949,302	8,546,847
Advertising expenses	253,978	240,787
Amortization	184,723	335,616
Gain on disposal of property and equipment	-49,821	-4,750
TOTAL OPERATING EXPENSES	8,338,182	9,118,500
LOSS FROM OPERATIONS	-303,715	-766,085
OTHER EXPENSE (INCOME):
Interest expense	384,366	378,439
TOTAL OTHER EXPENSE, NET	384,366	378,439
LOSS BEFORE INCOME TAXES	-688,081	-1,144,524
INCOME TAX BENEFIT	-261,471	-297,576
NET LOSS	($426,610)	($846,948)
NET LOSS PER SHARE - BASIC	($0.02)	($0.04)
NET LOSS PER SHARE - DILUTED	($0.02)	($0.04)
WEIGHTED AVERAGE SHARES USED IN COMPUTATION - BASIC	21,358,411	21,360,585
WEIGHTED AVERAGE SHARES USED IN COMPUTATION - DILUTED	21,358,411	21,360,585

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $)	3 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
CondensedConsolidatedStatementsOfComprehensiveLossAbstract
NET (LOSS) INCOME	($426,610)	($846,948)
OTHER COMPREHENSIVE (LOSS) INCOME, NET OF TAX:
Unrealized gain on derivatives designated as cash flow hedges	2,894	2,941
Other Comprehensive Income, net of tax	2,894	2,941
TOTAL COMPREHENSIVE LOSS	($423,716)	($844,007)

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	3 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	($426,610)	($846,948)
Adjustments to reconcile net loss to net cash provided (used) by operating activities:
Depreciation	689,222	703,151
Provision for bad debts on accounts receivable	76,797	96,631
Amortization	184,723	335,616
Gain on disposal of property and equipment	-49,821	-4,750
Non cash share-based compensation	971	0
Changes in assets and liabilities:
Accounts receivable	-160,858	617,354
Inventories	-272,062	216,173
Other current assets	-194,235	-257,531
Accounts payable	-447,904	794,116
Accrued expenses	-405,436	-126,947
Customer deposits	-4,713	-88,280
NET CASH PROVIDED BY OPERATING ACTIVITIES	-1,009,926	1,438,585
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	-652,010	-441,311
Proceeds from sale of property and equipment	59,474	4,750
NET CASH USED IN INVESTING ACTIVITIES	-592,536	-436,561
CASH FLOWS FROM FINANCING ACTIVITIES:
Net line of credit borrowings	441,853	0
Principal payments on long term debt	-448,092	-392,856
Purchase of treasury stock	0	-3,627
NET CASH USED IN FINANCING ACTIVITIES	-6,239	-396,483
NET DECREASE IN CASH AND CASH EQUIVALENTS	-1,608,701	605,541
CASH AND CASH EQUIVALENTS - beginning of period	1,841,044	2,089,787
CASH AND CASH EQUIVALENTS - end of period	232,343	2,695,328
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	383,568	377,449
Cash paid for income taxes	$2,575	$264,513

1_BASIS_OF_PRESENTATION

1. BASIS OF PRESENTATION	3 Months Ended
	Jan. 31, 2015
Accounting Policies [Abstract]
1. Basis Of Presentation	The accompanying unaudited consolidated financial statements have been prepared in accordance with Form 10-Q instructions and in the opinion of management contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the consolidated financial position, results of operations, and cash flows for the periods presented.  The results have been determined on the basis of generally accepted accounting principles and practices of the United States of America (“GAAP”), applied consistently with the Annual Report on Form 10-K of Crystal Rock Holdings, Inc. (the “Company”) for the year ended October 31, 2014.
	Certain information and footnote disclosures normally included in audited consolidated financial statements presented in accordance with GAAP have been condensed or omitted. The accompanying consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended October 31, 2014.  The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year.
	The financial statements herewith reflect the consolidated operations and financial condition of Crystal Rock Holdings, Inc. and its wholly owned subsidiary Crystal Rock LLC.

2_GOODWILL_AND_OTHER_INTANGIBL

2. GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
	Jan. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
2. Goodwill and Other Intangilbe Assets	Major components of intangible assets consisted of:
		January 31, 2015						October 31, 2014
		Gross Carrying Amount		Accumulated Amortization		Wgt. Avg. Amort. Years		Gross Carrying Amount		Accumulated Amortization		Wgt. Avg. Amort. Years
	Amortized Intangible Assets:
	Covenants Not to Compete	$	2,526,488	$	2,318,048		2.86	$	2,526,488	$	2,296,369		3.04
	Customer Lists		10,261,635		8,166,068		3.56		10,261,635		8,006,107		3.78
	Other Identifiable Intangibles		548,311		253,617		24.72		548,311		250,534		24.96
	Total	$	13,336,434	$	10,737,733			$	13,336,434	$	10,553,010
	Amortization expense for the three month periods ending January 31, 2015 and 2014 was $184,723 and $335,616, respectively.  There were no changes in the carrying amount of goodwill for the three month periods ending January 31, 2015 and 2014.

3_DEBT

3. DEBT	3 Months Ended
	Jan. 31, 2015
Debt Disclosure [Abstract]
3. Debt	On March 13, 2013, the Company amended its Credit Agreement (the “Agreement”) with Bank of America to provide a senior financing facility consisting of term debt and a revolving line of credit.  Under the Agreement, the Company became obligated on $11,000,000 of debt in the form of a term note to refinance the previous senior term debt and to fund repayment of a portion of its outstanding subordinated debt. Additionally, the Agreement includes a $5,000,000 revolving line of credit that can be used for the purchase of fixed assets, to fund acquisitions, to collateralize letters of credit, and for operating capital.
	The Agreement amortizes the term debt over a five year period with 59 equal monthly installments of $130,952 and a final payment of $3,273,832 due in March 2018. The revolving line of credit matures in March 2016.  There are various restrictive covenants under the Agreement, and the Company is prohibited from entering into other debt agreements without the bank’s consent.  The Agreement also prohibits the Company from paying dividends without the prior consent of the bank.
	There was $942,000 outstanding on the line of credit and a letter of credit issued for $1,400,000 to collateralize the Company’s liability insurance program as of January 31, 2015.  Consequently, as of that date, there was $2,658,000 available to borrow from the revolving line of credit. There was $8,119,000 outstanding on the term note as of January 31, 2015.
	Under the Agreement, interest is paid at a rate of one-month LIBOR plus a margin based on the achievement of a specified leverage ratio.  As of January 31, 2015, the margin was 2.50% for the term note and 2.25% for the revolving line of credit.  The Company fixed the interest rate on 75% of its term debt by purchasing an interest rate swap as of the date of the Agreement. As of January 31, 2015, the Company had $2,030,000 of the term debt subject to variable interest rates.  The one-month LIBOR was .17% on the last business day of January 2015 resulting in total variable interest rates of 2.67% and 2.42%, for the term note and the revolving line of credit, respectively, as of January 31, 2015.
	The Agreement requires the Company to be in compliance with certain financial covenants at the end of each fiscal quarter.  The covenants include senior debt service coverage as defined of greater than 1.25 to 1, total debt service coverage as defined of greater than 1 to 1, and senior debt to EBITDA of less than 2.50 to 1.  As of January 31, 2015, the Company was in compliance with these covenants and terms of the Agreement.  On January 14, 2015, the Company amended its Credit Agreement with Bank of America. The amendment changed the calculation of Consolidated EBITDA with respect to the financial covenants to add certain severance costs expensed in fiscal year 2014. No other terms of the agreement were amended.
	In addition to the senior debt, as of January 31, 2015, the Company has subordinated debt owed to Henry, Peter and John Baker in the aggregate principal amount of $10,000,000 that is due October 5, 2018.  The interest rate on each of these notes is 12% per annum.

4_INVENTORIES

4. INVENTORIES	3 Months Ended
	Jan. 31, 2015
Inventory Disclosure [Abstract]
4. Inventories	Inventories consisted of the following at:
		January 31,		October 31,
		2015		2014
	Finished Goods	$	2,595,482	$	2,219,351
	Raw Materials		116,944		221,013
	Total Inventories	$	2,712,426	$	2,440,364
	Finished goods inventory consists of products that the Company sells such as, but not limited to, coffee, cups, soft drinks, and snack foods.  Raw material inventory consists primarily of bottle caps.  The amount of raw and bottled water on hand does not represent a material amount of inventory.  The Company estimates that value as of January 31, 2015 and October 31, 2014 to be $59,000 and $70,000, respectively.  This value includes the cost of allocated overhead.  Bottles are accounted for as fixed assets.

5_ONBALANCE_SHEET_DERIVATIVE_I

5. ON-BALANCE SHEET DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	3 Months Ended
	Jan. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
5. On-Balance Sheet Derivative Instruments and Hedging Activities	Derivative Financial Instruments
	The Company has stand-alone derivative financial instruments in the form of interest rate swap agreements, which derive their value from underlying interest rates. These transactions involve both credit and market risk.  The notional amount is an amount on which calculations, payments, and the value of the derivative are based.  The notional amount does not represent direct credit exposure.  Direct credit exposure is limited to the net difference between the calculated amount to be received and paid, if any. Such difference, which represents the fair value of the derivative instrument, is reflected on the Company’s consolidated balance sheet as an unrealized gain or loss on derivatives.
	The Company is exposed to credit-related losses in the event of nonperformance by the counterparties to these agreements.  The Company controls the credit risk of its financial contracts through credit approvals, limits and monitoring procedures, and currently has no reason to believe that any counterparties will fail to fulfill their obligations.
	For more details regarding the Company’s derivative hedging polices refer to Note 2, Significant Accounting Policies, in the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended October 31, 2014.
	The Company entered into an interest rate swap agreement for the purpose of fixing at least 75% of the term loan under the Agreement with Bank of America. The swap fixes the rate on at least 75% of the outstanding balance of the term note at 3.18% (.68% plus the applicable margin under the Agreement, 2.50%) until March 2016.
	As of January 31, 2015, the total notional amount of the latest swap agreement was $6,089,000.  On that date, the variable rate on the remaining portion of the term note was 2.67%.
	At January 31, 2015, the net unrealized loss or gain relating to interest rate swap was recorded in current and long term liabilities.  The current portion is the valuation of the hedging instrument over the next twelve months while the balance of the unrealized loss makes up the long term portion.  For the effective portion of the hedge, which is the swap at October 31, 2014 and January 31, 2015, changes in the fair value of interest rate swaps designated as hedging instruments to mitigate the variability of cash flows associated with long-term debt are reported in other comprehensive income or loss net of tax effects.
	The table below details the adjustments to other comprehensive income (loss), on a before tax and net-of tax basis, for the fiscal quarters ended January 31, 2015 and 2014.
		Before-Tax			Tax Benefit			Net-of-Tax
	Three Months Ended January 31, 2014
	Loss on interest rate swap	$	(4,784	)	$	1,913		$	(2,871	)
	Reclassification adjustment for loss in income		9,686			(3,874	)		5,812
	Net unrealized gain	$	4,902		$	(1,961	)	$	2,941
	Three Months Ended January 31, 2015
	Loss on interest rate swap	$	(3,295	)	$	1,318		$	(1,977	)
	Reclassification adjustment for loss in income		8,119			(3,248	)		4,871
	Net unrealized gain	$	4,824		$	(1,930	)	$	2,894
	The reclassification adjustments of $8,119 and $9,686 represent interest the Company paid in excess of the amount that would have been paid without the interest rate swap agreement during the quarters ended January 31, 2015 and 2014, respectively. These amounts were reclassified from accumulated other comprehensive loss and recorded in consolidated statements of operations as interest expense.  No other material amounts were reclassified during the quarters ended January 31, 2015 and 2014.
	In the quarter ended January 31, 2015, the fair value of the swap changed from an unrealized loss on derivative liability of $28,516 at the beginning of the period to $23,692 at the end of the period.  Also, as of January 31, 2015, the estimated net amount of the existing loss that is reported in accumulated other comprehensive loss that is expected to be reclassified into earnings within the next twelve months is $22,804, net of tax.
	During the first quarters of 2015 and 2014, cash flow hedges were deemed 100% effective.

6_FAIR_VALUE_OF_ASSETS_AND_LIA

6. FAIR VALUE OF ASSETS AND LIABILITIES	3 Months Ended
	Jan. 31, 2015
Fair Value Disclosures [Abstract]
6. Fair Value of Assets and Liabilities		Fair Value Hierarchy
		The Company’s assets and liabilities measured at fair value on a recurring basis are as follows:
			Level 1		Level 2		Level 3
	Liabilities:
	31-Jan-15
	Unrealized loss on derivatives		$	-	$	23,692	$	-
	31-Oct-14
	Unrealized loss on derivatives		$	-	$	28,516	$	-
	In determining the fair value, the Company uses a model that calculates a present value of the payments as they amortize through the life of the loan (float) based on the variable rate and compares them to the calculated value of the payment based on the fixed rate (fixed) defined in the swap.  In calculating the present value, in addition to the term, the model relies on other data – the “rate” and the “discount factor.”
		§	In the “float” model, the rate reflects where the market expects LIBOR to be in for the respective period and is based on the Eurodollar futures market.
		§	The discount factor is a function of the volatility of LIBOR.
	Payments are calculated by applying the rate to the notional amount and adjusting for the term. Then the present value is calculated by using the discount factor.
	There were no assets or liabilities measured at fair value on a nonrecurring basis.

7_INCOME_LOSS_PER_SHARE_AND_WE

7. INCOME (LOSS) PER SHARE AND WEIGHTED AVERAGE SHARES	3 Months Ended
	Jan. 31, 2015
Earnings Per Share [Abstract]
7. Income (Loss) Per Share And Weighted Average Shares	The Company considers outstanding in-the-money stock options as potential common stock in its calculation of diluted earnings per share, unless the effect would be anti-dilutive, and uses the treasury stock method to calculate the applicable number of shares.  The following calculation provides the reconciliation of the denominators used in the calculation of basic and fully diluted earnings per share:
		Three Months Ended
		January 31,
		2015			2014
	Net Loss	$	(426,610	)	$	(846,948	)
	Denominator:
	Basic Weighted Average Shares Outstanding		21,358,411			21,360,585
	Dilutive effect of Stock Options		-			-
	Diluted Weighted Average Shares Outstanding		21,358,411			21,360,585
	Basic Loss Per Share	$	(.02	)	$	(.04	)
	Diluted Loss Per Share	$	(.02	)	$	(.04	)
	There were 46,250 and 252,750 options outstanding as of January 31, 2015 and 2014, respectively.  For the three month periods ended January 31, 2015 and 2014 there were no options used to calculate the effect of dilution because the Company had a net loss for both periods.

8_COMPENSATION_PLANS

8. COMPENSATION PLANS	3 Months Ended
	Jan. 31, 2015
Compensation and Retirement Disclosure [Abstract]
8. Compensation Plans	The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. That cost is recognized over the period during which an employee is required to provide services in exchange for the award, the requisite service period (usually the vesting period).  The Company provides an estimate of forfeitures at the initial date of grant.
	In April 2004, the Company’s stockholders approved the 2004 Stock Incentive Plan.  The plan provided for issuances of awards of up to 250,000 restricted or unrestricted shares of the Company’s common stock, or incentive or non-statutory stock options to purchase such common stock. Of the total amount of shares authorized, 46,250 options are outstanding, 26,000 restricted shares have been granted, and, as of February 18, 2014, no further options may be granted under the 2004 Plan.
	In April 2014, the Company’s stockholders approved the 2014 Stock Incentive Plan.  The plan provided for issuances of awards of up to 500,000 restricted or unrestricted shares of the Company’s common stock, or incentive or non-statutory stock options to purchase such common stock. Of the total amount of shares authorized under this plan, no options have been granted and 500,000 shares are available for grant at January 31, 2015.
	The options issued under the plans generally vest in periods up to five years based on the continuous service of the recipient and have 10 year contractual terms.  Share awards generally vest over one year.  Option and share awards provide for accelerated vesting if there is a change in control of the Company (as defined in the plans).
	There were a total of eight option grants, for a total of 201,500 shares, that expired in the first three months of 2015 and two option grants, for a total of 10,000 shares that expired in the first three months of 2014.  Other than the expirations, there was no activity related to stock options and outstanding stock option balances or other equity based compensation during the three month periods ended January 31, 2015 and 2014.  The Company did not grant any equity based compensation during the three months ended January 31, 2015 and 2014.
	The 9,250 outstanding stock options that were exercisable as of January 31, 2015 have an exercise price $.90 per share, had a weighted average contractual life of 8.67 years, and no intrinsic value.  Outstanding options were granted with lives of 10 years and provide for vesting over a term of 0-5 years.  As of January 31, 2015, there were 37,000 unvested options and there is $20,074 of unrecognized future compensation expense that will be recognized over the next four years based on the vesting period of the options. Compensation is determined using the Black-Scholes model and the simplified method to derive the expected term of the options and historical volatility over the past five years.
	All incentive and non-qualified stock option grants had an exercise price equal to the market value of the underlying common stock on the date of grant.

9_RECENT_ACCOUNTING_PRONOUNCEM

9. RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Jan. 31, 2015
Accounting Changes and Error Corrections [Abstract]
9. Recent Accounting Pronouncements	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” which raises the threshold for disposals to qualify as discontinued operations. A discontinued operation is defined as: (1) a component of an entity or group of components that has been disposed of or classified as held for sale and represents a strategic shift that has or will have a major effect on an entity’s operations and financial results; or (2) an acquired business that is classified as held for sale on the acquisition date. ASU 2014-08 also requires additional disclosures regarding discontinued operations, as well as material disposals that do not meet the definition of discontinued operations. It is effective for annual periods beginning on or after December 15, 2014. Early adoption is permitted but only for disposals that have not been reported in financial statements previously issued. The adoption of ASU 2014-08 is not expected to have a material impact on the Company’s net income, financial position or cash flows.
	In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)”, which stipulates that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this core principle, an entity should apply the following steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when (or as) the entity satisfies a performance obligation. This update will be effective for fiscal years beginning after December 15, 2016 which for the Company would be the fiscal year beginning November 1, 2017. Early adoption is not permitted. The Company is currently assessing the impact of this update on its operations.
	In August 2014, the FASB issued ASU No. 2014-15, "Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern," which requires management to assess whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one year after the financial statements are issued. If substantial doubt exists, additional disclosures are required. ASU 2014-15 will be effective for the Company in the first quarter of 2017. The adoption of ASU 2014-15 is not expected to have a material impact on the Company's disclosures.

10_SIGNIFICANT_ACCOUNTING_POLI

10. SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Jan. 31, 2015
Accounting Policies [Abstract]
10. Significant Accounting Policies	Uncollectible Trade Accounts Receivable - Individual accounts receivable are written off when deemed uncollectible, with any future recoveries recorded as income when received.
	For more details regarding the Company’s accounts receivable polices refer to Note 2, Significant Accounting Policies, in the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended October 31, 2014.

1_BASIS_OF_PRESENTATION_Polici

1. BASIS OF PRESENTATION (Policies)	3 Months Ended
	Jan. 31, 2015
Accounting Policies [Abstract]
BASIS OF PRESENTATION	The accompanying unaudited consolidated financial statements have been prepared in accordance with Form 10-Q instructions and in the opinion of management contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the consolidated financial position, results of operations, and cash flows for the periods presented.  The results have been determined on the basis of generally accepted accounting principles and practices of the United States of America (“GAAP”), applied consistently with the Annual Report on Form 10-K of Crystal Rock Holdings, Inc. (the “Company”) for the year ended October 31, 2014.
	Certain information and footnote disclosures normally included in audited consolidated financial statements presented in accordance with GAAP have been condensed or omitted. The accompanying consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended October 31, 2014.  The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year.
	The financial statements herewith reflect the consolidated operations and financial condition of Crystal Rock Holdings, Inc. and its wholly owned subsidiary Crystal Rock LLC.

2_GOODWILL_AND_OTHER_INTANGIBL1

2. GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
	Jan. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Major Components of Intangible Assets
		January 31, 2015						October 31, 2014
		Gross Carrying Amount		Accumulated Amortization		Wgt. Avg. Amort. Years		Gross Carrying Amount		Accumulated Amortization		Wgt. Avg. Amort. Years
	Amortized Intangible Assets:
	Covenants Not to Compete	$	2,526,488	$	2,318,048		2.86	$	2,526,488	$	2,296,369		3.04
	Customer Lists		10,261,635		8,166,068		3.56		10,261,635		8,006,107		3.78
	Other Identifiable Intangibles		548,311		253,617		24.72		548,311		250,534		24.96
	Total	$	13,336,434	$	10,737,733			$	13,336,434	$	10,553,010

4_INVENTORIES_Tables

4. INVENTORIES (Tables)	3 Months Ended
	Jan. 31, 2015
Inventory Disclosure [Abstract]
Schedule of Inventories		January 31,		October 31,
		2015		2014
	Finished Goods	$	2,595,482	$	2,219,351
	Raw Materials		116,944		221,013
	Total Inventories	$	2,712,426	$	2,440,364

5_ONBALANCE_SHEET_DERIVATIVE_I1

5. ON-BALANCE SHEET DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	3 Months Ended
	Jan. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Other Comprehensive Income		Before-Tax			Tax Benefit			Net-of-Tax
	Three Months Ended January 31, 2014
	Loss on interest rate swap	$	(4,784	)	$	1,913		$	(2,871	)
	Reclassification adjustment for loss in income		9,686			(3,874	)		5,812
	Net unrealized gain	$	4,902		$	(1,961	)	$	2,941
	Three Months Ended January 31, 2015
	Loss on interest rate swap	$	(3,295	)	$	1,318		$	(1,977	)
	Reclassification adjustment for loss in income		8,119			(3,248	)		4,871
	Net unrealized gain	$	4,824		$	(1,930	)	$	2,894

6_FAIR_VALUE_OF_ASSETS_AND_LIA1

6. FAIR VALUE OF ASSETS AND LIABILITIES (Tables) (Fair Value, Measurements, Recurring [Member])	3 Months Ended
	Jan. 31, 2015
Fair Value, Measurements, Recurring [Member]
Schedule of Fair Value of Assets and Liabilities		Level 1		Level 2		Level 3
	Liabilities:
	31-Jan-15
	Unrealized loss on derivatives	$	-	$	23,692	$	-
	31-Oct-14
	Unrealized loss on derivatives	$	-	$	28,516	$	-

7_INCOME_LOSS_PER_SHARE_AND_WE1

7. INCOME (LOSS) PER SHARE AND WEIGHTED AVERAGE SHARES (Tables)	3 Months Ended
	Jan. 31, 2015
Earnings Per Share [Abstract]
Reconciliation of Denominators Used in Calculation of Basic and Fully Diluted Earnings Per Share		Three Months Ended
		January 31,
		2015			2014
	Net Loss	$	(426,610	)	$	(846,948	)
	Denominator:
	Basic Weighted Average Shares Outstanding		21,358,411			21,360,585
	Dilutive effect of Stock Options		-			-
	Diluted Weighted Average Shares Outstanding		21,358,411			21,360,585
	Basic Loss Per Share	$	(.02	)	$	(.04	)
	Diluted Loss Per Share	$	(.02	)	$	(.04	)

2_GOODWILL_AND_OTHER_INTANGIBL2

2. GOODWILL AND OTHER INTANGIBLE ASSETS (Details) (USD $)	3 Months Ended	12 Months Ended
	Jan. 31, 2015	Oct. 31, 2014
Carrying Amount-Gross	$13,336,434	$13,336,434
Accumulated Amortization	10,737,733	10,553,010
Covenant Not To Compete
Carrying Amount-Gross	2,526,488	2,526,488
Accumulated Amortization	2,318,048	2,296,369
Weighted Average Amortized-Years	2 years 10 months 10 days	3 years 14 days
Customer Lists
Carrying Amount-Gross	10,261,635	10,261,635
Accumulated Amortization	8,166,068	8,006,107
Weighted Average Amortized-Years	3 years 6 months 22 days	3 years 9 months 11 days
Other Identifiable Intangibles
Carrying Amount-Gross	548,311	548,311
Accumulated Amortization	$253,617	$250,534
Weighted Average Amortized-Years	24 years 8 months 19 days	24 years 11 months 16 days

2_GOODWILL_AND_OTHER_INTANGIBL3

2. GOODWILL AND OTHER INTANGIBLE ASSETS (Details Narrative) (USD $)	3 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
Disclosure2.GoodwillAndOtherIntangibleAssetsDetailsNarrativeAbstract
Amortization Expense	$184,723	$335,616

4_INVENTORIES_Details

4. INVENTORIES (Details) (USD $)	Jan. 31, 2015	Oct. 31, 2014
Disclosure4.InventoriesDetailsAbstract
Finished Goods	$2,595,482	$2,219,351
Raw Materials	116,944	221,013
Total Inventories	$2,712,426	$2,440,364

4_INVENTORIES_Details_Narrativ

4. INVENTORIES (Details Narrative) (USD $)	Jan. 31, 2015	Oct. 31, 2014
Disclosure4.InventoriesDetailsNarrativeAbstract
Estimated value of Inventory	$59,000	$70,000

5_ONBALANCE_SHEET_DERIVATIVE_I2

5. ON-BALANCE SHEET DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) (USD $)	3 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
Loss On Interest Rate Swap
Before Tax	($3,295)	($4,784)
Tax Benefit (Expense)	1,318	1,913
Net of Tax	-1,977	-2,871
Reclassification Adjustment For Loss In Income
Before Tax	8,119	9,686
Tax Benefit (Expense)	-3,248	-3,874
Net of Tax	4,871	5,812
Net Unrealized Gain
Before Tax	4,824	4,902
Tax Benefit (Expense)	-1,930	-1,961
Net of Tax	$2,894	$2,941

6_FAIR_VALUES_OF_ASSETS_AND_LI

6. FAIR VALUES OF ASSETS AND LIABILITIES (Details) (USD $)	Jan. 31, 2015	Oct. 31, 2014
ASSETS:
Goodwill	$12,156,790	$12,156,790
Level 1
Liabilities:
Unrealized loss on derivatives	0	0
Level 2
Liabilities:
Unrealized loss on derivatives	23,692	28,516
Level 3
Liabilities:
Unrealized loss on derivatives	$0	$0

7_INCOME_LOSS_PER_SHARE_AND_WE2

7. INCOME (LOSS) PER SHARE AND WEIGHTED AVERAGE SHARES (Details) (USD $)	3 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
Disclosure7.IncomeLossPerShareAndWeightedAverageSharesDetailsAbstract
Net Loss	($426,610)	($846,948)
Denominator:
Basic Weighted Average Shares Outstanding	21,358,411	21,360,585
Dilutive effect of Stock Options	0	0
Diluted Weighted Average Shares Outstanding	21,358,411	21,360,585
Basic Loss Per Share	($0.02)	($0.04)
Diluted Loss Per Share	($0.02)	($0.04)

7_INCOME_LOSS_PER_SHARE_AND_WE3

7. INCOME (LOSS) PER SHARE AND WEIGHTED AVERAGE SHARES (Detail Narrative)	Jan. 31, 2015	Jan. 31, 2014
Disclosure7.IncomeLossPerShareAndWeightedAverageSharesDetailNarrativeAbstract
Options outstanding	46,250	252,750