Hurco Companies (HURC) 10-Q 6 Mar 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Jan. 31, 2015	Mar. 02, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Jan-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Entity Registrant Name	HURCO COMPANIES INC
Entity Central Index Key	315374
Current Fiscal Year End Date	-21
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		6,537,983

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014
CONDENSED CONSOLIDATED STATEMENTS OF INCOME [Abstract]
Sales and service fees	$50,972	$50,970
Cost of sales and service	34,425	37,051
Gross profit	16,547	13,919
Selling, general and administrative expenses	10,454	10,600
Operating income	6,093	3,319
Interest expense	69	77
Interest income	21	16
Investment income	65	31
Other expense, net	307	16
Income before taxes	5,803	3,273
Provision for income taxes	2,037	904
Net income	$3,766	$2,369
Income per common share
Basic	$0.57	$0.36
Diluted	$0.57	$0.36
Weighted average common shares outstanding
Basic	6,523	6,477
Diluted	6,569	6,514
Dividends paid per share	$0.07	$0.05

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income	$3,766	$2,369
Other comprehensive income (loss):
Translation of foreign currency financial statements	-5,056	-713
(Gain) / loss on derivative instruments reclassified into operations, net of tax $200 and $147, respectively	364	256
Gain / (loss) on derivative instruments, net of tax $856 and $(254), respectively	1,556	-441
Total other comprehensive income (loss)	-3,136	-898
Comprehensive income	$630	$1,471

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Realized loss (gains) on derivative instruments reclassified into operations, tax	$200	$147
Unrealized (loss) gains on derivative instruments, tax	$856	($254)

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Jan. 31, 2015	Oct. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$59,855	$53,846
Accounts receivable, net	37,234	45,435
Inventories, net	91,104	95,992
Deferred income taxes	889	2,062
Derivative assets	7,455	3,127
Prepaid assets	10,375	8,927
Other	1,282	1,365
Total current assets	208,194	210,754
Property and equipment:
Land	782	782
Building	7,314	7,314
Machinery and equipment	18,741	19,432
Leasehold improvements	3,294	3,523
Property and equipment, gross	30,131	31,051
Less accumulated depreciation and amortization	-19,136	-19,546
Property and equipment, net	10,995	11,505
Software development costs, less accumulated amortization	3,455	3,519
Goodwill	2,373	2,606
Intangible assets, net	1,431	1,635
Investments and other assets, net	6,876	6,912
Total assets	233,324	236,931
Current liabilities:
Accounts payable	40,853	42,718
Accrued expenses and other	15,126	18,060
Accrued warranty expenses	2,062	2,048
Derivative liabilities	1,269	705
Short-term debt	3,198	3,272
Total current liabilities	62,508	66,803
Non-current liabilities:
Deferred income taxes	1,194	993
Accrued tax liability	969	1,054
Deferred credits and other	3,388	3,436
Total non-current liabilities	5,551	5,483
Shareholders' equity:
Preferred stock: no par value per share, 1,000,000 shares authorized, no shares issued
Common stock: no par value, $.10 stated value per share, 12,500,000 shares authorized, 6,638,931 and 6,589,918 shares issued; and 6,537,983 and 6,508,880 shares outstanding, as of January 31, 2015 and October 31, 2014, respectively	654	651
Additional paid-in capital	56,418	55,974
Retained earnings	114,889	111,580
Accumulated other comprehensive loss	-6,696	-3,560
Total shareholders' equity	165,265	164,645
Total liabilities and stockholders' equity	$233,324	$236,931

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jan. 31, 2015	Oct. 31, 2014
CONDENSED CONSOLIDATED BALANCE SHEETS [Abstract]
Preferred stock, no par value	$0	$0
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, stated value per share	$0.10	$0.10
Common stock, shares authorized	12,500,000	12,500,000
Common stock, shares issued	6,638,931	6,589,918
Common stock, shares outstanding	6,537,983	6,508,880

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014
Cash flows from operating activities:
Net income	$3,766	$2,369
Adjustments to reconcile net income to net cash provided by (used for) operating activities, net of acquisition:
Provision for doubtful accounts	-52	-82
Deferred income taxes	-329	3
Equity in income of affiliates	-43	-84
Depreciation and amortization	726	735
Foreign currency (gain) loss	2,812	2
Unrealized (gain) loss on derivatives	-2,625	138
Stock-based compensation	257	246
Change in assets and liabilities:
(Increase) decrease in accounts receivable	5,695	1,496
(Increase) decrease in inventories	-360	666
(Increase) decrease in prepaid expenses	-931	-992
Increase (decrease) in accounts payable	236	4,195
Increase (decrease) in accrued expenses	-2,026	-1,669
Net change in derivative assets and liabilities	100	-113
Other	1,259	-133
Net cash provided by (used for) operating activities	8,485	6,777
Cash flows from investing activities:
Purchase of property and equipment	-321	-336
Software development costs	-203	-183
Other investments	-155	-205
Proceeds from sale of equipment	51	126
Net cash provided by (used for) investing activities	-628	-598
Cash flows from financing activities:
Proceeds from exercise of common stock options	189
Dividends paid	-457	-324
Restricted shares vested	2
Repayment of short- term debt		-384
Net cash provided by (used for) financing activities	-266	-708
Effect of exchange rate changes on cash	-1,582	-282
Net increase (decrease) in cash and cash equivalents	6,009	5,189
Cash and cash equivalents at beginning of period	53,846	42,804
Cash and cash equivalents at end of period	$59,855	$47,993

CONDENSED_CONSOLIDATED_STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (USD $)	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
In Thousands, except Share data
Balances at Oct. 31, 2013	$151,491	$647	$54,698	$98,130	($1,984)
Balances, shares at Oct. 31, 2013		6,465,054
Net income	2,369			2,369
Other comprehensive loss	-898				-898
Stock-based compensation	246	1	245
Stock-based compensation, shares		17,290
Dividends paid	-324			-324
Balances at Jan. 31, 2014	152,884	648	54,943	100,175	-2,882
Balances, shares at Jan. 31, 2014		6,482,344
Balances at Oct. 31, 2014	164,645	651	55,974	111,580	-3,560
Balances, shares at Oct. 31, 2014		6,508,880
Net income	3,766			3,766
Other comprehensive loss	-3,136				-3,136
Exercise of common stock options	190	1	189
Exercise of common stock options, shares	12,800	12,800
Stock-based compensation	257	2	255
Stock-based compensation, shares		16,303
Dividends paid	-457			-457
Balances at Jan. 31, 2015	$165,265	$654	$56,418	$114,889	($6,696)
Balances, shares at Jan. 31, 2015		6,537,983

GENERAL

GENERAL	3 Months Ended
	Jan. 31, 2015
GENERAL [Abstract]
GENERAL	1	GENERAL
	The unaudited Condensed Consolidated Financial Statements include the accounts of Hurco Companies, Inc. and its consolidated subsidiaries. As used in this report, unless the context indicates otherwise, the terms “we”, “us”, “our” and similar language refer to Hurco Companies, Inc. and its consolidated subsidiaries as a whole.
	We design and produce computerized machine tools, interactive computer control systems, machine tool components, and software for sale through our distribution network to the worldwide metal cutting market. We also provide software options, computer control upgrades, accessories and replacement parts for our products, as well as customer service and training support.
	The condensed financial information as of January 31, 2015 and for the three months ended January 31, 2015 and January 31, 2014 is unaudited. However, in our opinion, the interim data includes all adjustments, consisting only of normal recurring adjustments, necessary to present fairly our consolidated financial position, results of operations, changes in shareholders' equity and cash flows at the end of the interim periods. We suggest that you read these condensed consolidated financial statements in conjunction with the financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended October 31, 2014.

DERIVATIVE_INSTRUMENTS_AND_HED

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	3 Months Ended
	Jan. 31, 2015
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
	2	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
	We are exposed to certain market risks relating to our ongoing business operations, including foreign currency risk, interest rate risk and credit risk. We manage our exposure to these and other market risks through regular operating and financing activities. Currently, the only risk that we manage through the use of derivative instruments is foreign currency risk in which we enter into derivative instruments in the form of foreign currency forward exchange contracts with a major financial institution.
	We enter into these forward exchange contracts to reduce the potential effects of foreign exchange rate movements on our net equity investment in one of our foreign subsidiaries, to reduce the impact on gross profit and net earnings from sales and purchases denominated in foreign currencies, and to reduce the impact on our net earnings of foreign currency fluctuations on receivables and payables denominated in foreign currencies which are different than the subsidiaries' functional currency. We are primarily exposed to foreign currency exchange rate risk with respect to transactions and net assets denominated in Euros, Pounds Sterling, Canadian Dollars, South African Rand, Singapore Dollars, Indian Rupee, Chinese Yuan, South Korean Won, Polish Zloty, and New Taiwan Dollars. We record all derivative instruments as assets or liabilities at fair value.
	Derivatives Designated as Hedging Instruments
	We enter into foreign currency forward exchange contracts periodically to hedge certain forecasted inter-company sales and purchases denominated in foreign currencies (the Pound Sterling, Euro and New Taiwan Dollar). The purpose of these instruments is to mitigate the risk that the U.S. Dollar net cash inflows and outflows resulting from sales and purchases denominated in foreign currencies will be adversely affected by changes in exchange rates. These forward contracts have been designated as cash flow hedge instruments, and are recorded in the Condensed Consolidated Balance Sheets at fair value in Derivative assets and Derivative liabilities. The effective portion of the gains and losses resulting from the changes in the fair value of these hedge contracts are deferred in Accumulated other comprehensive loss and recognized as an adjustment to Cost of sales and service in the period that the corresponding inventory sold that is the subject of the related hedge contract is recognized, thereby providing an offsetting economic impact against the corresponding change in the U.S. Dollar value of the inter-company sale or purchase being hedged. The ineffective portion of gains and losses resulting from the changes in the fair value of these hedge contracts is reported in Other expense, net immediately. We perform quarterly assessments of hedge effectiveness by verifying and documenting the critical terms of the hedge instrument and determining that forecasted transactions have not changed significantly. We also assess on a quarterly basis whether there have been adverse developments regarding the risk of a counterparty default.
	We had forward contracts outstanding as of January 31, 2015, denominated in Euros, Pounds Sterling and New Taiwan Dollars with set maturity dates ranging from February 2015 through January 2016. The contract amounts, expressed at forward rates in U.S. Dollars at January 31, 2015, were $25.9 million for Euros, $10.8 million for Pounds Sterling and $19.1 million for New Taiwan Dollars. At January 31, 2015, we had approximately $2.9 million of gains, net of tax, related to cash flow hedges deferred in Accumulated other comprehensive loss. Included in this amount were $2.2 million of unrealized gains, net of tax, related to cash flow hedge instruments that remain subject to currency fluctuation risk. The majority of these deferred gains will be recorded as an adjustment to Cost of sales and service in periods through January 2016, when the corresponding inventory that is the subject of the related hedge contracts is sold, as described above.
	We are exposed to foreign currency exchange risk related to our investment in net assets in foreign countries. To manage this risk, we have we entered into a forward contract with a notional amount of €3.0 million in November 2014. We designated this forward contract as a hedge of our net investment in Euro denominated assets. We selected the forward method under Financial Accounting Standards Board, or FASB, guidance related to the accounting for derivatives instruments and hedging activities. The forward method requires all changes in the fair value of the contract to be reported as a cumulative translation adjustment in Accumulated other comprehensive loss, net of tax, in the same manner as the underlying hedged net assets. This forward contract matures in November 2015. As of January 31, 2015, we had $452,000 of realized gains and $220,000 of unrealized gains, net of tax, recorded as cumulative translation adjustments in Accumulated other comprehensive loss related to these forward contracts.
	Derivatives Not Designated as Hedging Instruments
	We enter into foreign currency forward exchange contracts to protect against the effects of foreign currency fluctuations on receivables and payables denominated in foreign currencies. These derivative instruments are not designated as hedges under the FASB guidance and, as a result, changes in their fair value are reported currently as Other expense, net in the Condensed Consolidated Statements of Income consistent with the transaction gain or loss on the related receivables and payables denominated in foreign currencies.
	We had forward contracts outstanding as of January 31, 2015, in Euros, Pounds Sterling, Canadian Dollars, the South African Rand, and the New Taiwan Dollar with set maturity dates ranging from February 2015 through April 2015. The contract amounts at forward rates in U.S. Dollars at January 31, 2015 totaled $49.9 million.
	Fair Value of Derivative Instruments
	We recognize the fair value of derivative instruments as assets and liabilities on a gross basis on our Condensed Consolidated Balance Sheets. As of January 31, 2015 and October 31, 2014, all derivative instruments were recorded at fair value on the balance sheets as follows (in thousands):
			31-Jan-15						31-Oct-14
			Balance Sheet		Fair				Balance Sheet		Fair
	Derivatives		Location		Value				Location		Value
	Designated as hedging instruments:
	Foreign exchange forward contracts		Derivative assets		$	4,738			Derivative assets		$	2,596
	Foreign exchange forward contracts		Derivative liabilities		$	954			Derivative liabilities		$	401
	Not designated as hedging instruments:
	Foreign exchange forward contracts		Derivative assets		$	2,717			Derivative assets		$	531
	Foreign exchange forward contracts		Derivative liabilities		$	315			Derivative liabilities		$	304
	Effect of Derivative Instruments on the Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Changes in Shareholders' Equity and Condensed Consolidated Statements of Income
	Derivative instruments had the following effects on our Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Changes in Shareholders' Equity and Condensed Consolidated Statements of Income, net of tax, during the three months ended January 31, 2015 and 2014 (in thousands):
	Derivatives		Amount of Gain								Location of		Amount of Gain
			(Loss) Recognition in								Gain (Loss)		(Loss) Reclassified
			Other Comprehensive								Reclassified		from Other
			Income								from Other		Comprehensive
											Comprehensive		Income
											Income
			Three Months Ended										Three Months Ended
			January 31,										January 31,
			2015				2014						2015			2014
	Designated as hedging instruments:
	(Effective portion)
	Foreign exchange forward contracts – Intercompany sales/purchases		$	1,556			$	(441	)		Cost of sales and service		$	(364	)	$	(256	)
	Foreign exchange forward contract – Net investment		$	239			$	20
	We did not recognize gains or losses as a result of hedges deemed ineffective for the three months ended January 31, 2015. We recognized a loss of $19,000 for the three months ended January 31, 2014 as a result of contracts closed early that were deemed ineffective for financial reporting purposes and did not qualify as cash flow hedges. We recognized the following gains and losses in our Condensed Consolidated Statements of Income during the three months ended January 31, 2015 and 2014 on derivative instruments not designated as hedging instruments:
	Derivatives		Location of Gain		Amount of Gain (Loss)
			(Loss) Recognized		Recognized in Operations
			in Operations
					Three Months Ended
					January 31,
					2015				2014
					(in thousands)
	Not Designated as Hedging Instruments:
	Foreign exchange forward contracts		Other expense, net		$	2,712			$	(38	)
	The following table presents the changes in the components of Accumulated other comprehensive loss, net of tax, for the three months ended January 31, 2015 (in thousands):
			Foreign				Cash				Total
			Currency				Flow
			Translation				Hedges
	Balance, October 31, 2014		$	(4,551	)		$	991			$	(3,560	)
	Other comprehensive income (loss) before reclassifications			(5,056	)			1,556				(3,500	)
	Reclassifications			—				364				364
	Balance, January 31, 2015		$	(9,607	)		$	2,911			$	(6,696	)

EQUITY_INCENTIVE_PLAN

EQUITY INCENTIVE PLAN	3 Months Ended
	Jan. 31, 2015
EQUITY INCENTIVE PLAN [Abstract]
EQUITY INCENTIVE PLAN	3	EQUITY INCENTIVE PLAN
	In March 2008, we adopted the Hurco Companies, Inc. 2008 Equity Incentive Plan (the “2008 Plan”), which allows us to grant awards of stock options, Stock Appreciation Rights settled in stock (SARs), restricted shares, performance shares and performance units. The 2008 Plan replaced the 1997 Stock Option and Incentive Plan, which expired in March 2007. The Compensation Committee of the Board of Directors has authority to determine the officers, directors and key employees who will be granted awards; designate the number of shares subject to each award; determine the terms and conditions upon which awards will be granted; and prescribe the form and terms of award agreements. We have granted stock options under both plans which are currently outstanding, and restricted shares and performance shares under the 2008 Plan. No stock option may be exercised more than ten years after the date of grant or such shorter period as the Compensation Committee may determine at the date of grant. The total number of shares of our common stock that may be issued as awards under the 2008 Plan is 750,000. The market value of a share of our common stock, for purposes of the 2008 Plan, is the closing sale price as reported by the Nasdaq Global Select Market on the date in question or, if not a trading day, on the last preceding trading date.
	A summary of stock option activity for the three-month period ended January 31, 2015, is as follows:
			Stock			Weighted
			Options			Average
						Exercise
						Price
	Outstanding at October 31, 2014			128,189		$	20.45
	Options granted			—			—
	Options exercised			(12,800	)	$	14.88
	Options cancelled			—			—
	Outstanding at January 31, 2015			115,389		$	21.07
	Summarized information about outstanding stock options as of January 31, 2015, that have already vested and those that are expected to vest, as well as stock options that are currently exercisable, are as follows:
			Options Already			Options Currently
			Vested and			Exercisable
			Expected to Vest
	Number of outstanding options			115,389			108,440
	Weighted average remaining contractual life (years)			5.9			5.44
	Weighted average exercise price per share		$	21.07		$	20.92
	Intrinsic value of outstanding options		$	1,625,000		$	1,543,000
	The intrinsic value of an outstanding stock option is calculated as the difference between the stock price as of January 31, 2015 and the exercise price of the option.
	On January 6, 2015, the Compensation Committee approved a long-term incentive compensation arrangement for our executive officers in the form of restricted shares and performance shares awarded under the 2008 Plan. The awards were 25% time-based vesting and 75% performance-based vesting. The three-year performance period is fiscal 2015 through fiscal 2017.
	On this date, the Compensation Committee granted a total of 11,174 shares of time-based restricted shares to our executive officers. The restricted shares vest in thirds over three years from the date of grant provided the recipient remains employed through that date. The grant date fair value of the restricted shares was based upon the closing sales price of our common stock on the date of grant which was $32.22.
	The Compensation Committee also granted a total target number of 16,740 performance shares to our executive officers designated as “Performance Shares – TSR”. The shares were weighted as 40% of the overall long-term incentive compensation arrangement and will vest and be paid based upon our total shareholder return of our common stock over a three-year period, relative to the total shareholder of the companies in a specified peer group over that period. Participants will have the ability to earn between 50% of the target number of shares for achieving threshold performance and 200% of the target number of shares for achieving maximum performance. The fair value of the market-based performance shares was $34.41 per share and was calculated using the Monte Carlo approach.
	The Compensation Committee also granted a total target number of 15,643 performance shares to our executive officers designated as “Performance Shares – ROIC”. These shares were weighted as 35% of the overall long-term incentive compensation arrangement and will vest and be paid based upon the achievement of pre-established goals related to our average return on invested capital over the three-year period. Participants will have the ability to earn between 50% of the target number of shares for achieving threshold performance and 200% of the target number of shares for achieving maximum performance. The grant date fair value of the ROIC performance shares was based on the closing sales price of our common stock on the grant date which was $32.22 per share.
	A reconciliation of the activity relating to outstanding restricted share awards made under the 2008 Plan and related information is as follows:
			Number of			Weighted Average
			Shares			Grant  Date
						Fair Value
	Unvested at October 31, 2014			81,038		$	23.83
	Shares granted			43,557			33.06
	Shares vested			(16,303	)		21.81
	Shares withheld			(7,344	)		21.82
	Unvested at January 31, 2015			100,948		$	28.28
	During the first three months of fiscal 2015 and 2014, we recorded $257,000 and $246,000, respectively, as stock-based compensation expense related to grants under the plans. As of January 31, 2015, there was an estimated $2.2 million of total unrecognized stock-based compensation cost that we expect to recognize by the end of the first quarter of fiscal 2018.

EARNINGS_PER_SHARE

EARNINGS PER SHARE	3 Months Ended
	Jan. 31, 2015
EARNINGS PER SHARE [Abstract]
EARNINGS PER SHARE		4	EARNINGS PER SHARE
	Per share results have been computed based on the average number of common shares outstanding. The computation of basic and diluted net income per share is determined using net income applicable to common shareholders as the numerator and the number of shares outstanding as the denominator as follows (in thousands, except per share amounts):
			Three Months Ended
			January 31,
			2015						2014
			Basic			Diluted			Basic			Diluted
	Net income		$	3,766		$	3,766		$	2,369		$	2,369
	Undistributed earnings allocated to participating shares			(23	)		(23	)		(20	)		(20	)
	Net income applicable to common shareholders		$	3,743		$	3,743		$	2,349		$	2,349
	Weighted average shares outstanding			6,523			6,523			6,477			6,477
	Stock options			—			46			—			37
				6,523			6,569			6,477			6,514
	Income per share		$	0.57		$	0.57		$	0.36		$	0.36

ACCOUNTS_RECEIVABLE

ACCOUNTS RECEIVABLE	3 Months Ended
	Jan. 31, 2015
ACCOUNTS RECEIVABLE [Abstract]
ACCOUNTS RECEIVABLE	5	ACCOUNTS RECEIVABLE
	Accounts receivable are net of allowances for doubtful accounts of $826,000 as of January 31, 2015 and $878,000 as of October 31, 2014.

INVENTORIES

INVENTORIES	3 Months Ended
	Jan. 31, 2015
INVENTORIES [Abstract]
INVENTORIES	6	INVENTORIES
	Inventories, priced at the lower of cost (first-in, first-out method) or market, are summarized below (in thousands):
			January 31,		October 31,
			2015		2014
	Purchased parts and sub-assemblies		$	20,189	$	21,703
	Work-in-process			13,699		14,236
	Finished goods			57,216		60,053
			$	91,104	$	95,992

SEGMENT_INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Jan. 31, 2015
SEGMENT INFORMATION [Abstract]
SEGMENT INFORMATION	7	SEGMENT INFORMATION
	We operate in a single segment: industrial automation systems. We design and produce interactive computer control systems and software, computerized machine tools and machine tool components for sale through our own distribution network to the worldwide metal-working market. We also provide software options, control upgrades, accessories and replacement parts for our products, as well as customer service and training support.

GUARANTEES_AND_WARRANTIES

GUARANTEES AND WARRANTIES	3 Months Ended
	Jan. 31, 2015
GUARANTEES AND WARRANTIES [Abstract]
GUARANTEES AND WARRANTIES	8	GUARANTEES AND PRODUCT WARRANTIES
	We follow FASB guidance for accounting for contingencies relating to the guarantor's accounting for, and disclosures of, the issuance of certain types of guarantees.
	From time to time, our subsidiaries guarantee third party payment obligations in connection with the sale of machines to customers that use financing. We follow FASB guidance for accounting for contingencies with respect to these guarantees. As of January 31, 2015, we had 17 outstanding third party payment guarantees totaling approximately $1.4 million. The terms of these guarantees are consistent with the underlying customer financing terms. Upon shipment of a machine, the customer has the risk of ownership. The customer does not obtain title, however, until it has paid for the machine. A retention of title clause allows us to recover the machine if the customer defaults on the financing. We accrue for potential liabilities under these guarantees when we believe a loss is probable and can be estimated.
	We provide warranties on our products with respect to defects in material and workmanship. The terms of these warranties are generally one year for machines and certain components and shorter periods for service parts. We recognize a reserve with respect to this obligation at the time of product sale, with subsequent warranty claims recorded against the reserve. The amount of the warranty reserve is determined based on historical trend experience and any known warranty issues that could cause future warranty costs to differ from historical experience. A reconciliation of the changes in our warranty reserve is as follows (in thousands):
			Three Months Ended
			January 31,			January 31,
			2015			2014
	Balance, beginning of period		$	2,048		$	1,778
	Provision for warranties during the period			782			938
	Charges to the reserve			(693	)		(971	)
	Impact of foreign currency translation			(75	)		(10	)
	Balance, end of period		$	2,062		$	1,735
	The year-over-year increase in our warranty reserve reflected higher sales volumes and anticipated claims of machines under warranty as well as the sale of a greater number of our higher-performance machines which have a higher cost per claim.

DEBT_AGREEMENTS

DEBT AGREEMENTS	3 Months Ended
	Jan. 31, 2015
DEBT AGREEMENTS [Abstract]
DEBT AGREEMENTS	9	DEBT AGREEMENTS
	On December 7, 2012, we entered into an agreement (the “U.S. credit agreement”) with a financial institution that provided us with a $12.5 million unsecured revolving credit and letter of credit facility. The U.S. credit agreement permitted the issuance of up to $3.0 million in letters of credit. On May 9, 2014, the maximum amount for outstanding letters of credit under our U.S. credit agreement was increased from $3.0 million to $5.0 million in order to guarantee a new revolving credit facility in Taiwan.
	On December 5, 2014, we amended our U.S. credit agreement to increase the cash dividend allowance from $3.0 million per calendar year to $4.0 million per calendar year and to extend the scheduled maturity date to December 7, 2016.
	Borrowings under the U.S. credit agreement bear interest at a LIBOR-based rate or a floating rate of 1% above the prevailing prime rate. The floating rate will not less than the greatest of (a) a one month LIBOR-based rate plus 1.00% per annum, (b) the federal funds effective rate plus 0.50% per annum, and (c) the prevailing prime rate. The rate we must pay for that portion of the U.S. credit agreement which is not utilized is 0.05% per annum.
	The U.S. credit agreement contains customary financial covenants, including a covenant that permits us to make investments in subsidiaries of up to $5.0 million and a minimum working capital of $90.0 million and a minimum tangible net worth of $120.0 million. The U.S. credit agreement permits us to pay cash dividends in an amount not to exceed $4.0 million per calendar year, so long as we are not in default before and after giving effect to such dividends.
	We have a £1.0 million revolving credit facility in the United Kingdom and a €1.5 million revolving credit facility in Germany. On May 12, 2014, we established a Taiwan credit facility in the amount of 100.0 million New Taiwan Dollars (approximately $3.2 million) with an expiration date of May 12, 2015. Our Taiwan credit facility is backed by letters of credit under our U.S. credit facility. We also have a 40.0 million Chinese Yuan (approximately $6.4 million) credit facility in China that was renewed on February 17, 2015 with an expiration date of February 17, 2016.
	All of our credit facilities are unsecured.
	We had $3.2 million and $3.3 million of borrowings under our China credit facility, which bears interest at 5.6% annually (variable rate), at January 31, 2015 and October 31, 2014, respectively. We had no other debt or borrowings under any of our other credit facilities at either of those dates. At January 31, 2015, we were in compliance with all covenants contained in the related credit agreements and, as of that date, we had unutilized credit facilities of $18.3 million.

INCOME_TAXES

INCOME TAXES	3 Months Ended
	Jan. 31, 2015
INCOME TAXES [Abstract]
INCOME TAXES	10	INCOME TAXES
	Our effective tax rate for the first three months of fiscal 2015 was 35% in comparison to 28% for the same period in fiscal 2014. The increase in the effective income tax rate was primarily due to changes in the geographic mix of income or loss between tax jurisdictions.  We recorded income tax expense during the first three months of fiscal 2015 of $2.0 million compared to $904,000 for the same period in fiscal 2014, primarily as a result of an increase in pre-tax income period-over-period.  We have not provided any U.S. income taxes on the undistributed earnings of our wholly-owned foreign subsidiaries based upon our determination that such earnings will be indefinitely reinvested.  In the event these earnings are later distributed to our U.S. operations, such distributions would likely result in additional U.S. tax that may be offset, at least in part, by associated foreign tax credits.
	Our unrecognized tax benefits were $1.1 million as of January 31, 2015 and $1.2 million as of October 31, 2014, and in each case included accrued interest.
	We recognize accrued interest and penalties related to unrecognized tax benefits as components of income tax expense.   As of January 31, 2015, the gross amount of interest accrued, reported in Accrued expenses and other, was approximately $30,000, which did not include the federal tax benefit of interest deductions.
	We file U.S. federal and state income tax returns, as well as tax returns in several foreign jurisdictions.  The statutes of limitations with respect to unrecognized tax benefits will expire between July 2015 and July 2018.

FINANCIAL_INSTRUMENTS

FINANCIAL INSTRUMENTS	3 Months Ended
	Jan. 31, 2015
FINANCIAL INSTRUMENTS [Abstract]
FINANCIAL INSTRUMENTS	11	FINANCIAL INSTRUMENTS
	Estimated Fair Value Measurements of Financial Instruments
	FASB fair value guidance established a three-tier fair value hierarchy, which categorizes the inputs used in measuring fair value.  These tiers include: Level 1, defined as observable inputs, such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exist, therefore requiring an entity to develop its own assumptions.
	In accordance with this guidance, the following table represents the fair value hierarchy for our financial assets and liabilities measured at fair value as of January 31, 2015 and October 31, 2014 (in thousands):
			Assets				Liabilities
			January 31,		October 31,		January 31,		October 31,
			2015		2014		2015		2014
	Level 1
	Deferred Compensation		$	1,259	$	1,232	$	-	$	-
	Level 2
	Derivatives		$	7,455	$	3,127	$	1,269	$	705
	Recurring Fair Value Measurements
	Included in Level 1 assets are mutual fund investments under a nonqualified deferred compensation plan. We estimate the fair value of these investments on a recurring basis using market prices which are readily available.
	Included in Level 2 fair value measurements are derivative assets and liabilities related to gains and losses on foreign currency forward exchange contracts entered into with a third party. We estimate the fair value of these derivatives on a recurring basis using foreign currency exchange rates obtained from active markets. Derivative instruments are reported in the accompanying consolidated financial statements at fair value. We have derivative financial instruments in the form of foreign currency forward exchange contracts as described in Note 2 of Notes to the Condensed Consolidated Financial Statements in which the U.S. Dollar equivalent notional amounts of these contracts was $117.8 million and $122.2 million at January 31, 2015 and October 31, 2014, respectively. The fair value of Derivative assets recorded on our Condensed Consolidated Balance Sheets was $7.5 million at January 31, 2015 and $3.1 million at October 31, 2014. The fair value of Derivative liabilities recorded on our Condensed Consolidated Balance Sheets was $1.3 million at January 31, 2015 and $705,000 at October 31, 2014.
	The fair value of our foreign currency forward exchange contracts and the related currency positions are subject to offsetting market risk resulting from foreign currency exchange rate volatility. The counterparty to the forward exchange contracts is a substantial and creditworthy financial institution. We do not consider either the risk of counterparty non-performance or the economic consequences of counterparty non-performance as material risks.
	Nonrecurring Fair Value Measurements
	Certain nonfinancial assets and liabilities are measured at fair value on a nonrecurring basis and are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment.
	We review for goodwill impairment annually and whenever events or changes in circumstances indicate our carrying value may not be recoverable. The fair value of reporting units is determined using the income approach. The income approach focusses on the income-producing capability of an asset, measuring the current value of the asset by calculating the present value of its future economic benefits such as cash earnings, cost savings, corporate tax structure and product offerings. Value indications are developed by discounting expected cash flows to their present value at a rate of return that incorporates the risk-free rate for the use of funds, the expected rate of inflation and risks associated with the reporting unit. These assets would generally be classified within Level 3, in the event that we were required to measure and record such assets at fair value within the consolidated financial statements.
	We periodically evaluate the carrying value of long-lived assets to be held and used, including definite-lived and indefinite-lived intangible assets and property plant and equipment, when events or circumstances warrant such a review. Fair value is determined primarily using anticipated cash flows assumed by a market participant discounted at a rate commensurate with the risk involved and these assets would generally be classified within Level 3, in the event that we were required to measure and record such assets at fair value within the consolidated financial statements.

CONTINGENCIES_AND_LITIGATION

CONTINGENCIES AND LITIGATION	3 Months Ended
	Jan. 31, 2015
CONTINGENCIES AND LITIGATION [Abstract]
CONTINGENCIES AND LITIGATION	12	CONTINGENCIES AND LITIGATION
	We are involved in various claims and lawsuits arising in the normal course of business.  Pursuant to applicable accounting rules, we accrue the minimum liability for each known claim when the estimated outcome is a range of possible loss and no one amount within that range is more likely than another.  We maintain insurance policies for such matters, and we record insurance recoveries when we determine such recovery to be probable.  We do not expect any of these claims, individually or in the aggregate, to have a material adverse effect on our consolidated financial position or results of operations.  We believe that the ultimate resolution of claims for any losses will not exceed our insurance policy coverages.

DERIVATIVE_INSTRUMENTS_AND_HED1

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	3 Months Ended
	Jan. 31, 2015
Schedule of Fair Value of Derivative Instruments
		31-Jan-15						31-Oct-14
		Balance Sheet		Fair				Balance Sheet		Fair
	Derivatives	Location		Value				Location		Value
	Designated as hedging instruments:
	Foreign exchange forward contracts	Derivative assets		$	4,738			Derivative assets		$	2,596
	Foreign exchange forward contracts	Derivative liabilities		$	954			Derivative liabilities		$	401
	Not designated as hedging instruments:
	Foreign exchange forward contracts	Derivative assets		$	2,717			Derivative assets		$	531
	Foreign exchange forward contracts	Derivative liabilities		$	315			Derivative liabilities		$	304
Schedule of Effect of Derivative Instruments on the Balance Sheets, Statements of Changes in Shareholders' Equity and Statements of Operations	Derivatives	Amount of Gain								Location of		Amount of Gain
		(Loss) Recognition in								Gain (Loss)		(Loss) Reclassified
		Other Comprehensive								Reclassified		from Other
		Income								from Other		Comprehensive
										Comprehensive		Income
										Income
		Three Months Ended										Three Months Ended
		January 31,										January 31,
		2015				2014						2015			2014
	Designated as hedging instruments:
	(Effective portion)
	Foreign exchange forward contracts – Intercompany sales/purchases	$	1,556			$	(441	)		Cost of sales and service		$	(364	)	$	(256	)
	Foreign exchange forward contract – Net investment	$	239			$	20
	We did not recognize gains or losses as a result of hedges deemed ineffective for the three months ended January 31, 2015. We recognized a loss of $19,000 for the three months ended January 31, 2014 as a result of contracts closed early that were deemed ineffective for financial reporting purposes and did not qualify as cash flow hedges. We recognized the following gains and losses in our Condensed Consolidated Statements of Income during the three months ended January 31, 2015 and 2014 on derivative instruments not designated as hedging instruments:
	Derivatives	Location of Gain		Amount of Gain (Loss)
		(Loss) Recognized		Recognized in Operations
		in Operations
				Three Months Ended
				January 31,
				2015				2014
				(in thousands)
	Not Designated as Hedging Instruments:
	Foreign exchange forward contracts	Other expense, net		$	2,712			$	(38	)
Schedule of Changes in Components of Accumulated Other Comprehensive Loss
		Foreign				Cash				Total
		Currency				Flow
		Translation				Hedges
	Balance, October 31, 2014	$	(4,551	)		$	991			$	(3,560	)
	Other comprehensive income (loss) before reclassifications		(5,056	)			1,556				(3,500	)
	Reclassifications		—				364				364
	Balance, January 31, 2015	$	(9,607	)		$	2,911			$	(6,696	)

EQUITY_INCENTIVE_PLAN_Tables

EQUITY INCENTIVE PLAN (Tables)	3 Months Ended
	Jan. 31, 2015
EQUITY INCENTIVE PLAN [Abstract]
Summary of Stock Option Activity
		Stock			Weighted
		Options			Average
					Exercise
					Price
	Outstanding at October 31, 2014		128,189		$	20.45
	Options granted		—			—
	Options exercised		(12,800	)	$	14.88
	Options cancelled		—			—
	Outstanding at January 31, 2015		115,389		$	21.07
Schedule of Information about Outstanding Stock Options that have Already Vested and those that are Expected to Vest
		Options Already			Options Currently
		Vested and			Exercisable
		Expected to Vest
	Number of outstanding options		115,389			108,440
	Weighted average remaining contractual life (years)		5.9			5.44
	Weighted average exercise price per share	$	21.07		$	20.92
	Intrinsic value of outstanding options	$	1,625,000		$	1,543,000
Reconciliation of Restricted Stock Activity and Related Information
		Number of			Weighted Average
		Shares			Grant  Date
					Fair Value
	Unvested at October 31, 2014		81,038		$	23.83
	Shares granted		43,557			33.06
	Shares vested		(16,303	)		21.81
	Shares withheld		(7,344	)		21.82
	Unvested at January 31, 2015		100,948		$	28.28

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	3 Months Ended
	Jan. 31, 2015
EARNINGS PER SHARE [Abstract]
Reconciliation of Basic and Diluted Earnings Per Share
		Three Months Ended
		January 31,
		2015						2014
		Basic			Diluted			Basic			Diluted
	Net income	$	3,766		$	3,766		$	2,369		$	2,369
	Undistributed earnings allocated to participating shares		(23	)		(23	)		(20	)		(20	)
	Net income applicable to common shareholders	$	3,743		$	3,743		$	2,349		$	2,349
	Weighted average shares outstanding		6,523			6,523			6,477			6,477
	Stock options		—			46			—			37
			6,523			6,569			6,477			6,514
	Income per share	$	0.57		$	0.57		$	0.36		$	0.36

INVENTORIES_Tables

INVENTORIES (Tables)	3 Months Ended
	Jan. 31, 2015
INVENTORIES [Abstract]
Schedule of Inventories		January 31,		October 31,
		2015		2014
	Purchased parts and sub-assemblies	$	20,189	$	21,703
	Work-in-process		13,699		14,236
	Finished goods		57,216		60,053
		$	91,104	$	95,992

GUARANTEES_AND_WARRANTIES_Tabl

GUARANTEES AND WARRANTIES (Tables)	3 Months Ended
	Jan. 31, 2015
GUARANTEES AND WARRANTIES [Abstract]
Reconciliation of Changes in Warranty Reserve
		Three Months Ended
		January 31,			January 31,
		2015			2014
	Balance, beginning of period	$	2,048		$	1,778
	Provision for warranties during the period		782			938
	Charges to the reserve		(693	)		(971	)
	Impact of foreign currency translation		(75	)		(10	)
	Balance, end of period	$	2,062		$	1,735

FINANCIAL_INSTRUMENTS_Tables

FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Jan. 31, 2015
FINANCIAL INSTRUMENTS [Abstract]
Schedule of Assets and Liabilities Fair Value
		Assets				Liabilities
		January 31,		October 31,		January 31,		October 31,
		2015		2014		2015		2014
	Level 1
	Deferred Compensation	$	1,259	$	1,232	$	-	$	-
	Level 2
	Derivatives	$	7,455	$	3,127	$	1,269	$	705

DERIVATIVE_INSTRUMENTS_AND_HED2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Narrative) (Details)

3 Months Ended

3 Months Ended

3 Months Ended

Jan. 31, 2014

Jan. 31, 2015

Oct. 31, 2014

Jan. 31, 2015

Jan. 31, 2015

Jan. 31, 2015

Jan. 31, 2015

Jan. 31, 2015

Jan. 31, 2015

Jan. 31, 2015

Jan. 31, 2015

Jan. 31, 2015

Jan. 31, 2015

USD ($)

USD ($)

USD ($)

Forward Contracts [Member]

Forward Contracts [Member]

Forward Contracts [Member]

Forward Contracts [Member]

Forward Contracts [Member]

Forward Contracts [Member]

Forward Contracts [Member]

Euros [Member]

Pounds Sterling [Member]

New Taiwan Dollars [Member]

Designated As Hedging Instrument [Member]

Designated As Hedging Instrument [Member]

Not Designated as Hedging Instrument [Member]

Minimum [Member]

Minimum [Member]

Maximum [Member]

Maximum [Member]

Designated As Hedging Instrument [Member]

Designated As Hedging Instrument [Member]

Designated As Hedging Instrument [Member]

USD ($)

EUR (€)

USD ($)

Designated As Hedging Instrument [Member]

Not Designated as Hedging Instrument [Member]

Designated As Hedging Instrument [Member]

Not Designated as Hedging Instrument [Member]

USD ($)

USD ($)

USD ($)

Derivative [Line Items]

Derivative maturity date

28-Feb-15

28-Feb-15

31-Jan-16

30-Apr-15

Notional amount

$117,800,000

$122,200,000

€ 3,000,000

$49,900,000

$25,900,000

$10,800,000

$19,100,000

Gains related to cash flow hedges deferred in accumulated other comprehensive loss net of tax

2,900,000

Unrealized gains to be reclassified in next 12 months net of tax

2,200,000

Realized gain on net investment hedge

452,000

Unrealized gains, net of tax, recorded as cumulative translation adjustments in Accumulated other comprehensive loss

220,000

Gain (loss) on hedge ineffectiveness

($19,000)

DERIVATIVE_INSTRUMENTS_AND_HED3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Schedule of Fair Value of Derivative Instruments) (Details) (USD $)	Jan. 31, 2015	Oct. 31, 2014
In Thousands, unless otherwise specified
Derivatives Fair Value [Line Items]
Derivative assets	$7,455	$3,127
Derivative liabilities	1,269	705
Foreign Exchange Forward [Member] | Designated As Hedging Instrument [Member]
Derivatives Fair Value [Line Items]
Derivative assets	4,738	2,596
Derivative liabilities	954	401
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member]
Derivatives Fair Value [Line Items]
Derivative assets	2,717	531
Derivative liabilities	$315	$304

DERIVATIVE_INSTRUMENTS_AND_HED4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Schedule of Effect of Derivative Instruments on Consolidated Balance Sheets, Statements of Changes in Shareholders' Equity and Statements of Operations) (Details) (Foreign Exchange Forward [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014
Designated As Hedging Instrument [Member] | Intercompany [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of gain (loss) recognized in Other comprehensive loss	$1,556	($441)
Designated As Hedging Instrument [Member] | Net Investment Hedging [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of gain (loss) recognized in Other comprehensive loss	239	20
Designated As Hedging Instrument [Member] | Cost Of Sales [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of gain (loss) reclassified from Other comprehensive loss	-364	-256
Not Designated as Hedging Instrument [Member] | Other Expense, Net [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of gain (loss) recognized in operations	$2,712	($38)

DERIVATIVE_INSTRUMENTS_AND_HED5

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Schedule of Changes in Components of Accumulated Other Comprehensive Loss) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014
Derivative [Line Items]
Beginning balance	($3,560)
Other comprehensive income (loss) before reclassifications	-3,500
Reclassifications	364	256
Ending balance	-6,696
Foreign Currency Translation [Member]
Derivative [Line Items]
Beginning balance	-4,551
Other comprehensive income (loss) before reclassifications	-5,056
Reclassifications
Ending balance	-9,607
Cash Flow Hedges [Member]
Derivative [Line Items]
Beginning balance	991
Other comprehensive income (loss) before reclassifications	1,556
Reclassifications	364
Ending balance	$2,911

EQUITY_INCENTIVE_PLAN_Narrativ

EQUITY INCENTIVE PLAN (Narrative) (Details) (USD $)	3 Months Ended		1 Months Ended
	Jan. 31, 2015	Jan. 31, 2014	Jan. 06, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expiration period of options granted	10 years
Total number of shares of common stock that may be issued as awards under 2008 Plan	750,000
Stock-based compensation expense	$257,000	$246,000
Unrecognized Stock-based compensation expense	$2,200,000
Restricted stock granted	43,557
Time Based [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage			25.00%
Restricted stock granted			11,174
Closing sales price of common stock			$32.22
Performance Based [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage			75.00%
Performance Shares TSR [Member] | Performance Based [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock granted			16,740
Closing sales price of common stock			$34.41
Percentage of incentive compensation arrangement			40.00%
Performance Shares TSR [Member] | Performance Based [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target number of shares to be earned			50.00%
Performance Shares TSR [Member] | Performance Based [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target number of shares to be earned			200.00%
Performance Shares ROIC [Member] | Performance Based [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock granted			15,643
Closing sales price of common stock			$32.22
Percentage of incentive compensation arrangement			35.00%
Performance Shares ROIC [Member] | Performance Based [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target number of shares to be earned			50.00%
Performance Shares ROIC [Member] | Performance Based [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target number of shares to be earned			200.00%

EQUITY_INCENTIVE_PLAN_Summary_

EQUITY INCENTIVE PLAN (Summary of Stock Option Activity) (Details) (USD $)	3 Months Ended
	Jan. 31, 2015
Stock Options
Outstanding at October 31, 2014	128,189
Options granted
Options exercised	-12,800
Options cancelled
Outstanding at January 31, 2015	115,389
Weighted Average Exercise Price
Outstanding at October 31, 2014	$20.45
Options granted
Options exercised	$14.88
Options cancelled
Outstanding at January 31, 2015	$21.07

EQUITY_INCENTIVE_PLAN_Schedule

EQUITY INCENTIVE PLAN (Schedule of Information about Outstanding Stock Options Vested and Expected to Vest) (Details) (USD $)	3 Months Ended
	Jan. 31, 2015
Options already vested and expected to vest
Number of outstanding options	115,389
Weighted average remaining contractual life (years)	5 years 10 months 24 days
Weighted average exercise price per share	$21.07
Intrinsic value of outstanding options	$1,625,000
Options currently exercisable
Number of outstanding options	108,440
Weighted average remaining contractual life (years)	5 years 5 months 8 days
Weighted average exercise price per share	$20.92
Intrinsic value of outstanding options	$1,543,000

EQUITY_INCENTIVE_PLAN_Reconcil

EQUITY INCENTIVE PLAN (Reconciliation of Restricted Stock Activity and Related Information) (Details) (USD $)	3 Months Ended
	Jan. 31, 2015
Number of Shares
Unvested at October 31, 2014	81,038
Shares granted	43,557
Shares vested	-16,303
Shares withheld	-7,344
Unvested at January 31, 2015	100,948
Weighted Average Grant Date Fair Value
Unvested at October 31, 2014	$23.83
Shares granted	$33.06
Shares vested	$21.81
Shares withheld	$21.82
Unvested at January 31, 2015	$28.28

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jan. 31, 2015	Jan. 31, 2014
EARNINGS PER SHARE [Abstract]
Net income	$3,766	$2,369
Undistributed earnings allocated to participating shares	-23	-20
Net income applicable to common shareholders	$3,743	$2,349
Weighted average shares outstanding	6,523	6,477
Stock options	46	37
Diluted	6,569	6,514
Income per share, basic	$0.57	$0.36
Income per share, diluted	$0.57	$0.36

ACCOUNTS_RECEIVABLE_Details

ACCOUNTS RECEIVABLE (Details) (USD $)	Jan. 31, 2015	Oct. 31, 2014
ACCOUNTS RECEIVABLE [Abstract]
Allowances for doubtful accounts	$826,000	$878,000

INVENTORIES_Details

INVENTORIES (Details) (USD $)	Jan. 31, 2015	Oct. 31, 2014
In Thousands, unless otherwise specified
Inventory, Net [Abstract]
Purchased parts and sub-assemblies	$20,189	$21,703
Work-in-process	13,699	14,236
Finished goods	57,216	60,053
Inventories, net	$91,104	$95,992

GUARANTEES_AND_PRODUCT_WARRANT

GUARANTEES AND PRODUCT WARRANTIES (Details) (USD $)	3 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
GUARANTEES AND WARRANTIES [Abstract]
Number of outstanding third party payment guarantees	17
Outstanding third party payment guarantees amount	$1,400,000
Terms of warranties	1 year
Reconciliation of the changes in our warranty reserve:
Balance, beginning of period	2,048,000	1,778,000
Provision for warranties during the period	782,000	938,000
Charges to the reserve	-693,000	-971,000
Impact of foreign currency translation	-75,000	-10,000
Balance, end of period	$2,062,000	$1,735,000

DEBT_AGREEMENTS_Details

DEBT AGREEMENTS (Details)

Jan. 31, 2015

Jan. 31, 2015

Dec. 05, 2014

Dec. 04, 2014

Jan. 31, 2015

Jan. 31, 2015

Jan. 31, 2015

Jan. 31, 2015

Jan. 31, 2015

Jan. 31, 2015

Jan. 31, 2015

Jan. 31, 2015

Oct. 31, 2014

9-May-14

8-May-14

In Millions, unless otherwise specified

USD ($)

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Letter Of Credit [Member]

Letter Of Credit [Member]

USD ($)

USD ($)

USD ($)

LIBOR [Member]

Federal Funds Rate [Member]

Taiwan [Member]

Taiwan [Member]

United Kingdom [Member]

Germany [Member]

China [Member]

China [Member]

China [Member]

USD ($)

USD ($)

USD ($)

TWD

GBP (£)

EUR (€)

USD ($)

CNY

USD ($)

Line of Credit Facility [Line Items]

Line of credit, maximum borrowing capacity

$12.50

$3.20

100

£ 1

€ 1.50

$6.40

40

$5

$3

Line of credit, maturity date

7-Dec-16

12-May-15

12-May-15

17-Feb-16

17-Feb-16

Interest rate spread

1.00%

1.00%

0.50%

Percentage fee on portion that is not utilized

0.05%

Line of credit amount outstanding

3.2

3.3

Borrowings available under credit facility

18.3

Allowable investments in subsidiaries

5

Minimum working capital requirement

90

Minimum tangible net worth requirement

120

Maximum dividends allowable

$4

$4

$3

Interest rate

5.60%

5.60%

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended
	Jan. 31, 2015	Jan. 31, 2014	Oct. 31, 2014
INCOME TAXES [Abstract]
Effective tax rate	35.00%	28.00%
Provision for income taxes	$2,037,000	$904,000
Unrecognized tax benefits	1,100,000		1,200,000
Accrued interest and penalties related to unrecognized tax benefits	$30,000
Minimum [Member]
Income Tax Contingency [Line Items]
Statutes of limitations with respect to unrecognized tax benefits	1-Jul-15
Maximum [Member]
Income Tax Contingency [Line Items]
Statutes of limitations with respect to unrecognized tax benefits	1-Jul-18

FINANCIAL_INSTRUMENTS_Details

FINANCIAL INSTRUMENTS (Details) (USD $)	Jan. 31, 2015	Oct. 31, 2014
FINANCIAL INSTRUMENTS [Abstract]
Notional amount of forward hedge contracts	$117,800,000	$122,200,000
Assets
Derivatives	7,500,000	3,100,000
Liabilities
Derivatives	1,300,000	705,000
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member]
Assets
Deferred compensation	1,259,000	1,232,000
Liabilities
Deferred compensation
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member]
Assets
Derivatives	7,455,000	3,127,000
Liabilities
Derivatives	$1,269,000	$705,000