Hurco Companies (HURC) 10-Q 2 Jun 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Apr. 30, 2017	May 31, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Registrant Name	HURCO COMPANIES INC
Entity Central Index Key	315,374
Current Fiscal Year End Date	--10-31
Entity Filer Category	Accelerated Filer
Trading Symbol	HURC
Entity Common Stock, Shares Outstanding		6,624,197

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2017	Apr. 30, 2016
Sales and service fees	$ 58,222	$ 52,029	$ 106,966	$ 108,532
Cost of sales and service	41,154	35,419	77,312	74,224
Gross profit	17,068	16,610	29,654	34,308
Selling, general and administrative expenses	11,714	11,943	22,881	23,904
Operating income	5,354	4,667	6,773	10,404
Interest expense	24	25	45	49
Interest income	7	7	18	22
Investment income	16	4	80	106
Other (income) expense, net	240	(246)	291	(20)
Income before taxes	5,113	4,899	6,535	10,503
Provision for income taxes	1,467	1,225	2,010	2,934
Net income	$ 3,646	$ 3,674	$ 4,525	$ 7,569
Income per common share
Basic (in dollars per share)	$ 0.55	$ 0.56	$ 0.68	$ 1.15
Diluted (in dollars per share)	$ 0.54	$ 0.56	$ 0.67	$ 1.14
Weighted average common shares outstanding
Basic (in shares)	6,617	6,570	6,600	6,564
Diluted (in shares)	6,671	6,641	6,664	6,630
Dividends paid per share	$ 0.1	$ 0.09	$ 0.19	$ 0.17

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2017	Apr. 30, 2016
Net income	$ 3,646	$ 3,674	$ 4,525	$ 7,569
Other comprehensive income (loss):
Translation of foreign currency financial statements	2,259	3,423	2,156	1,012
(Gain) / loss on derivative instruments reclassified into operations, net of tax of $(174), $(301), $(59) and $(811), respectively	(317)	(546)	(108)	(1,474)
Gain / (loss) on derivative instruments, net of tax of $52, $(405), $233 and $(312), respectively	95	(736)	424	(567)
Total other comprehensive income (loss)	2,037	2,141	2,472	(1,029)
Comprehensive income	$ 5,683	$ 5,815	$ 6,997	$ 6,540

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2017	Apr. 30, 2016
Realized loss (gains) on derivative instruments reclassified into operations, tax	$ (174)	$ (301)	$ (59)	$ (811)
Unrealized (loss) gains on derivative instruments, tax	$ 52	$ (405)	$ 233	$ (312)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 30, 2017	Oct. 31, 2016
Current assets:
Cash and cash equivalents	$ 60,614	$ 41,217
Accounts receivable, net	35,831	48,631
Inventories, net	118,853	117,025
Derivative assets	1,227	1,725
Prepaid assets	8,519	8,207
Other	2,056	1,576
Total current assets	227,100	218,381
Property and equipment:
Land	841	841
Building	7,352	7,352
Machinery and equipment	24,731	23,515
Leasehold improvements	3,590	3,487
Property and equipment, gross	36,514	35,195
Less accumulated depreciation and amortization	(24,375)	(22,898)
Total property and equipment	12,139	12,297
Non-current assets:
Software development costs, less accumulated amortization	5,520	4,926
Goodwill	2,298	2,314
Intangible assets, net	1,087	1,150
Deferred income taxes	6,146	6,138
Investments and other assets, net	7,079	6,743
Total non-current assets	22,130	21,271
Total assets	261,369	251,949
Current liabilities:
Accounts payable	43,957	37,200
Accrued expenses and other	12,691	17,231
Accrued warranty expenses	1,541	1,523
Derivative liabilities	517	538
Short-term debt	1,451	1,476
Total current liabilities	60,157	57,968
Non-current liabilities:
Deferred income taxes	4,492	4,294
Accrued tax liability	1,178	963
Deferred credits and other	3,408	3,249
Total non-current liabilities	9,078	8,506
Shareholders’ equity:
Preferred stock: no par value per share, 1,000,000 shares authorized; no shares issued	0	0
Common stock: no par value, $.10 stated value per share, 12,500,000 shares authorized, 6,782,006 and 6,720,453 shares issued and 6,624,197 and 6,573,103 shares outstanding, as of April 30, 2017 and October 31, 2016, respectively	663	657
Additional paid-in capital	60,028	59,119
Retained earnings	140,014	136,742
Accumulated other comprehensive loss	(8,571)	(11,043)
Total shareholders’ equity	192,134	185,475
Total liabilities and shareholders’ equity	$ 261,369	$ 251,949

CONDENSED CONSOLIDATED BALANCE6

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Apr. 30, 2017	Oct. 31, 2016
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	6,782,006	6,720,453
Common stock, shares outstanding	6,624,197	6,573,103

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2017	Apr. 30, 2016
Cash flows from operating activities:
Net income	$ 3,646	$ 3,674	$ 4,525	$ 7,569
Adjustments to reconcile net income to net cash provided by (used for) operating activities, net of acquisitions:
Provision for doubtful accounts	(30)	7	(11)	(45)
Deferred income taxes	(170)	440	(547)	909
Equity in (income) loss of affiliates	31	(108)	(192)	(258)
Depreciation and amortization	823	972	1,782	1,934
Foreign currency (gain) loss	437	(1,644)	1,364	(1,208)
Unrealized (gain) loss on derivatives	156	612	(527)	552
Stock-based compensation	298	424	646	759
Change in assets and liabilities:
(Increase) decrease in accounts receivable	(3,519)	(522)	12,975	1,961
(Increase) decrease in inventories	867	(10,017)	393	(16,273)
(Increase) decrease in prepaid expenses	886	(688)	227	(1,705)
Increase (decrease) in accounts payable	2,687	943	5,472	2,400
Increase (decrease) in accrued expenses	60	(288)	(4,634)	(3,175)
Net change in derivative assets and liabilities	173	374	367	707
Other	(131)	(366)	(103)	(1,047)
Net cash provided by (used for) operating activities	6,214	(6,187)	21,737	(6,920)
Cash flows from investing activities:
Purchase of property and equipment	(200)	(510)	(998)	(1,145)
Proceeds from sale of equipment	0	232	0	236
Software development costs	(626)	(645)	(1,108)	(1,122)
Net cash provided by (used for) investing activities	(826)	(923)	(2,106)	(2,031)
Cash flows from financing activities:
Proceeds from exercise of common stock options	269	0	269	0
Dividends paid	(661)	(595)	(1,253)	(1,120)
Net cash provided by (used for) financing activities	(392)	(595)	(984)	(1,120)
Effect of exchange rate changes on cash	478	1,244	750	159
Net increase (decrease) in cash and cash equivalents	5,474	(6,461)	19,397	(9,912)
Cash and cash equivalents at beginning of period	55,140	51,786	41,217	55,237
Cash and cash equivalents at end of period	$ 60,614	$ 45,325	$ 60,614	$ 45,325

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balances, Beginning at Oct. 31, 2015	$ 174,568	$ 655	$ 57,539	$ 125,760	$ (9,386)
Balances, Beginning (Shares) at Oct. 31, 2015		6,551,718
Net income	7,569	$ 0	0	7,569	0
Other comprehensive loss	(1,029)	0	0	0	(1,029)
Stock-based compensation	759	$ 2	757	0	0
Stock-based compensation (shares)		21,385
Dividends paid	(1,120)	$ 0	0	(1,120)	0
Balances, Ending at Apr. 30, 2016	180,747	$ 657	58,296	132,209	(10,415)
Balances, Ending (Shares) at Apr. 30, 2016		6,573,103
Balances, Beginning at Oct. 31, 2016	185,475	$ 657	59,119	136,742	(11,043)
Balances, Beginning (Shares) at Oct. 31, 2016		6,573,103
Net income	4,525	$ 0	0	4,525	0
Other comprehensive loss	2,472	0	0	0	2,472
Exercise of common stock options	$ 269	$ 1	268	0	0
Exercise of common stock options (Shares)	12,164	12,164
Stock-based compensation	$ 646	$ 5	641	0	0
Stock-based compensation (shares)		38,930
Dividends paid	(1,253)	$ 0	0	(1,253)	0
Balances, Ending at Apr. 30, 2017	$ 192,134	$ 663	$ 60,028	$ 140,014	$ (8,571)
Balances, Ending (Shares) at Apr. 30, 2017		6,624,197

GENERAL

GENERAL	6 Months Ended
	Apr. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [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, manufacture and sell computerized (i.e., Computer Numeric Control) machine tools, consisting primarily of vertical machining centers (mills) and turning centers (lathes), to companies in the metal cutting industry through a worldwide sales, service and distribution network. Although the majority of our computer control systems and software products are proprietary, they predominantly use industry standard personal computer components. Our computer control systems and software products are primarily sold as integral components of our computerized machine tool products. We also provide machine tool components, software options, control upgrades, accessories and replacement parts for our products, as well as customer service and training support. The condensed financial information as of April 30, 2017 and for the three and six months ended April 30, 2017 and April 30, 2016 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 for and 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, 2016.

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	6 Months Ended
	Apr. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [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, for 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 that 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, Indian Rupee, South African Rand, Singapore Dollars, Chinese Yuan, 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 is 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 (income) 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 April 30, 2017, denominated in Euros, Pounds Sterling and New Taiwan Dollars with set maturity dates ranging from May 2017 through April 2018 23.7 7.3 21.5 1.6 372,000 We are also exposed to foreign currency exchange risk related to our investment in net assets in foreign countries. To manage this risk, we entered into a forward contract with a notional amount of € 3.0 809,000 14,000 Derivatives Not Designated as Hedging Instruments We also 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 (income) 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 April 30, 2017, denominated in Euros, Pounds Sterling, South African Rand, and New Taiwan Dollars with set maturity dates ranging from May 2017 through October 2017 57.7 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. April 30, 2017 October 31, 2016 Balance Sheet Balance Sheet Derivatives Location Fair Value Location Fair Value Designated as Hedging Instruments: Foreign exchange forward contracts Derivative assets $ 997 Derivative assets $ 1,721 Foreign exchange forward contracts Derivative liabilities $ 442 Derivative liabilities $ 173 Not Designated as Hedging Instruments: Foreign exchange forward contracts Derivative assets $ 230 Derivative assets $ 4 Foreign exchange forward contracts Derivative liabilities $ 75 Derivative liabilities $ 365 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 April 30, 2017 and 2016 (in thousands): Derivatives Amount of Gain Location of Amount of Gain (Loss) Three Months Ended Three Months Ended 2017 2016 2017 2016 Designated as Hedging Instruments: (Effective portion) Foreign exchange forward contracts – Intercompany sales/purchases $ 95 $ (736) Cost of sales and service $ 317 $ 546 Foreign exchange forward contract – Net investment $ (9) $ (116) We recognized a gain of $ 32,000 We recognized the following losses and gains in our Condensed Consolidated Statements of Income during the three months ended April 30, 2017 and 2016 on derivative instruments not designated as hedging instruments (in thousands): Location of Gain (Loss) Recognized Amount of Gain (Loss) Derivatives in Operations Recognized in Operations Three Months Ended April 30, Not Designated as Hedging Instruments: 2017 2016 Foreign exchange forward contracts Other (income) expense, net $ 165 $ (1,239) The following table presents the changes in the components of Accumulated other comprehensive loss, net of tax, for the three months ended April 30, 2017 (in thousands:) Foreign Cash Total Balance, January 31, 2017 $ (12,428) $ 1,820 $ (10,608) Other comprehensive income before reclassifications 2,259 95 2,354 Reclassifications — (317) (317) Balance, April 30, 2017 $ (10,169) $ 1,598 $ (8,571) 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 six months ended April 30, 2017 and 2016 (in thousands): Location of Gain (Loss) Amount of Gain Amount of Gain Reclassified (Loss) Reclassified (Loss) Recognized in from Other from Other Other Comprehensive Comprehensive Comprehensive Derivatives Income (Loss) Income (Loss) Income (Loss) Six Months Ended Six Months Ended April 30, April 30, 2017 2016 2017 2016 Designated as Hedging Instruments: (Effective portion) Foreign exchange forward contracts – Intercompany sales/purchases $ 424 $ (567) Cost of sales and service $ 108 $ 1,474 Foreign exchange forward contract – Net investment $ 30 $ (80) We recognized a gain of $ 168,000 32,000 We recognized the following losses and gains in our Condensed Consolidated Statements of Income during the six months ended April 30, 2017 and 2016 on derivative instruments not designated as hedging instruments (in thousands): Location of Gain (Loss) Recognized Amount of Gain (Loss) Derivatives in Operations Recognized in Operations Six Months Ended April 30, 2017 2016 Not Designated as Hedging Instruments: Foreign exchange forward contracts Other (income) expense, net $ 955 $ (1,100) The following table presents the changes in the components of Accumulated other comprehensive loss, net of tax, for the six months ended April 30, 2017 (in thousands:) Foreign Cash Currency Flow Translation Hedges Total Balance, October 31, 2016 $ (12,325) $ 1,282 $ (11,043) Other comprehensive income before reclassifications 2,156 424 2,580 Reclassifications — (108) (108) Balance, April 30, 2017 $ (10,169) $ 1,598 $ (8,571)

EQUITY INCENTIVE PLAN

EQUITY INCENTIVE PLAN	6 Months Ended
	Apr. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
EQUITY INCENTIVE PLAN	3. EQUITY INCENTIVE PLAN In March 2016, we adopted the Hurco Companies, Inc. 2016 Equity Incentive Plan (the “2016 Equity Plan”), which allows us to grant awards of stock options, stock appreciation rights (“SARs”), restricted stock, stock units and other stock-based awards. The 2016 Equity Plan replaced the Hurco Companies, Inc. 2008 Equity Incentive Plan (the “2008 Plan”) and is the only active plan under which equity awards may be made by us to our employees and non-employee directors. No further awards will be made under our 2008 Plan. The total number of shares of our common stock that may be issued pursuant to awards under the 2016 Equity Plan is 856,048 386,048 The Compensation Committee of the Board of Directors has the authority to determine the officers, directors and key employees who will be granted awards under the 2016 Equity Plan; 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 restricted shares and performance units under the 2016 Equity Plan that are currently outstanding, and we have granted stock options, restricted shares and performance shares under the 2008 Plan that are currently outstanding. 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 market value of a share of our common stock, for purposes of the 2016 Equity 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 six-month period ended April 30, 2017, is as follows: Stock Weighted Outstanding at October 31, 2016 107,889 $ 20.25 Options granted — — Options exercised (12,164) 22.11 Options cancelled — — Outstanding at April 30, 2017 95,725 $ 20.01 Summarized information about outstanding stock options as of April 30, 2017, 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 Number of outstanding options 95,725 Weighted average remaining contractual life (years) 3.73 Weighted average exercise price per share $ 20.01 Intrinsic value of outstanding options $ 894,000 The intrinsic value of an outstanding stock option is calculated as the difference between the stock price as of April 30, 2017 and the exercise price of the option. On January 5, 2017, the Compensation Committee determined the degree to which the long-term incentive compensation arrangement approved for the fiscal 2014-2016 performance period was attained, and the resulting payout level relative to the target amount for each of the metrics that were established by the Compensation Committee in 2014. As a result, the Compensation Committee determined that a total of 30,683 33.90 On January 5, 2017 25 75 On that date, the Compensation Committee granted a total of 14,747 33.90 On January 5, 2017, the Compensation Committee also granted a total target number of 18,496 40 50 200 43.25 On January 5, 2017, the Compensation Committee also granted a total target number of 20,647 35 50 200 33.90 On March 9, 2017, the Compensation Committee granted a total of 14,920 26.80 A reconciliation of the Company’s restricted stock activity, performance share and PSU and related information for the six-month period ended April 30, 2017 is as follows: Weighted Average Number of Grant Date Shares Fair Value Unvested at October 31, 2016 147,350 $ 28.79 Shares or units granted 71,011 34.61 Shares or units vested (38,930) 26.98 Shares or units cancelled (7,678) 29.98 Shares withheld (13,944) 25.89 Unvested at April 30, 2017 157,809 $ 32.05 During the first six months of fiscal 2017 and 2016, we recorded $ 646,000 759,000 2.9

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Apr. 30, 2017
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 over the period in question. 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 Six Months Ended April 30, April 30, 2017 2016 2017 2016 Basic Diluted Basic Diluted Basic Diluted Basic Diluted Net income $ 3,646 $ 3,646 $ 3,674 $ 3,674 $ 4,525 $ 4,525 $ 7,569 $ 7,569 Undistributed earnings allocated to participating shares (24) (24) (21) (21) (30) (30) (43) (43) Net income applicable to common shareholders $ 3,622 $ 3,622 $ 3,653 $ 3,653 $ 4,495 $ 4,495 $ 7,526 $ 7,526 Weighted average shares outstanding 6,617 6,617 6,570 6,570 6,600 6,600 6,564 6,564 Stock options and contingently issuable shares — 54 — 71 — 64 — 66 6,617 6,671 6,570 6,641 6,600 6,664 6,564 6,630 Income per share $ 0.55 $ 0.54 $ 0.56 $ 0.56 $ 0 .68 $ 0.67 $ 1.15 $ 1.14

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	6 Months Ended
	Apr. 30, 2017
Receivables [Abstract]
ACCOUNTS RECEIVABLE	5. ACCOUNTS RECEIVABLE Accounts receivable are net of allowances for doubtful accounts of $ 653,000 664,000

INVENTORIES

INVENTORIES	6 Months Ended
	Apr. 30, 2017
Inventory Disclosure [Abstract]
INVENTORIES	6. INVENTORIES Inventories, priced at the lower of cost (first-in, first-out method) or market, are summarized below (in thousands): April 30, October 31, Purchased parts and sub-assemblies $ 28,430 $ 25,661 Work-in-process 18,065 17,724 Finished goods 72,358 73,640 $ 118,853 $ 117,025

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Apr. 30, 2017
Segment Reporting [Abstract]
SEGMENT INFORMATION	7. SEGMENT INFORMATION We operate in a single segment: industrial automation equipment. We design, manufacture and sell computerized machine tools, consisting primarily of vertical machining centers (mills) and turning centers (lathes), to companies in the metal cutting industry through a worldwide sales, service and distribution network. Our computer control systems and software products are primarily sold as integral components of our computerized machine tool products. We also provide machine tool components, software options, control upgrades, accessories and replacement parts for our products, as well as customer service and training support.

GUARANTEES AND PRODUCT WARRANTI

GUARANTEES AND PRODUCT WARRANTIES	6 Months Ended
	Apr. 30, 2017
Standard Product Warranty Disclosure [Abstract]
GUARANTEES AND PRODUCT WARRANTIES	8. GUARANTEES AND PRODUCT WARRANTIES 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 guarantees (codified in ASC 460). As of April 30, 2017, we had 24 1.1 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): Six Months Ended 2017 2016 Balance, beginning of period $ 1,523 $ 2,186 Provision for warranties during the period 1,614 1,414 Charges to the reserve (1,605) (1,755) Impact of foreign currency translation 9 8 Balance, end of period $ 1,541 $ 1,853 The year-over-year decrease in our warranty reserve was primarily due to a reduction in average warranty cost per machine as our machines under warranty shifted from more complex, higher-performance machines.

DEBT AGREEMENTS

DEBT AGREEMENTS	6 Months Ended
	Apr. 30, 2017
Debt Disclosure [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 an unsecured revolving credit and letter of credit facility. The U.S. credit agreement contains customary financial covenants, including covenants (1) restricting us from making certain investments, loans, advances and acquisitions (but permitting us to make investments in subsidiaries of up to $ 5.0 On December 6, 2016, we entered into a fourth amendment to our U.S. credit agreement to, among other things, increase the unsecured revolving credit facility from $ 12.5 15.0 4.0 5.0 December 31, 2018 5.0 90.0 105.0 120.0 125.0 On February 16, 2017, we amended our credit facility in China to decrease the credit facility from 40.0 20.0 2.9 February 15, 2018 1.5 4.4 4.6 1.0 1.5 All of our credit facilities are unsecured. At April 30, 2017, we were in compliance with all covenants contained in the related credit agreements and, as of that date, we had unutilized credit facilities of $ 19.4

INCOME TAXES

INCOME TAXES	6 Months Ended
	Apr. 30, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	10. INCOME TAXES Our effective tax rate for the first six months of fiscal 2017 was 31 28 2.0 2.9 Our unrecognized tax benefits were $ 1.2 1.1 We recognize accrued interest and penalties related to unrecognized tax benefits as components of income tax expense. As of April 30, 2017, the gross amount of interest accrued, reported in Accrued expenses and other, was approximately $ 62,000 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 2017 and July 2019. We are under audit by the Internal Revenue Service (IRS) for our federal income tax return for fiscal year 2015.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	6 Months Ended
	Apr. 30, 2017
Fair Value Disclosures [Abstract]
FINANCIAL INSTRUMENTS	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. Assets Liabilities April 30, October 31, April 30, October 31, 2017 2016 2017 2016 Level 1 Deferred Compensation $ 1,508 $ 1,363 $ - $ - Level 2 Derivatives $ 1,227 $ 1,725 $ 517 $ 538 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 that 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 condensed 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. The U.S. Dollar equivalent notional amounts of these contracts was $ 112.5 125.6 1.2 1.7 0.5 0.5 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.

CONTINGENCIES AND LITIGATION

CONTINGENCIES AND LITIGATION	6 Months Ended
	Apr. 30, 2017
Commitments and Contingencies Disclosure [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.

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Apr. 30, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	13. NEW ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. In January 2017, the FASB issued ASU No. 2017-04, Intangibles–Goodwill and Other (Topic 350): Simplifying the Test of Goodwill Impairment In May 2017, the FASB issued ASU No. 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting

DERIVATIVE INSTRUMENTS AND HE22

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Apr. 30, 2017
Schedule of Fair Value of Derivative Instruments	April 30, 2017 October 31, 2016 Balance Sheet Balance Sheet Derivatives Location Fair Value Location Fair Value Designated as Hedging Instruments: Foreign exchange forward contracts Derivative assets $ 997 Derivative assets $ 1,721 Foreign exchange forward contracts Derivative liabilities $ 442 Derivative liabilities $ 173 Not Designated as Hedging Instruments: Foreign exchange forward contracts Derivative assets $ 230 Derivative assets $ 4 Foreign exchange forward contracts Derivative liabilities $ 75 Derivative liabilities $ 365
Period One [Member]
Schedule of Changes in Components of Accumulated Other Comprehensive Loss	Foreign Cash Total Balance, January 31, 2017 $ (12,428) $ 1,820 $ (10,608) Other comprehensive income before reclassifications 2,259 95 2,354 Reclassifications — (317) (317) Balance, April 30, 2017 $ (10,169) $ 1,598 $ (8,571) Foreign Cash Currency Flow Translation Hedges Total Balance, October 31, 2016 $ (12,325) $ 1,282 $ (11,043) Other comprehensive income before reclassifications 2,156 424 2,580 Reclassifications — (108) (108) Balance, April 30, 2017 $ (10,169) $ 1,598 $ (8,571)
Period One [Member] | Designated as Hedging Instrument [Member]
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) Three Months Ended Three Months Ended 2017 2016 2017 2016 Designated as Hedging Instruments: (Effective portion) Foreign exchange forward contracts – Intercompany sales/purchases $ 95 $ (736) Cost of sales and service $ 317 $ 546 Foreign exchange forward contract – Net investment $ (9) $ (116) Location of Gain (Loss) Amount of Gain Amount of Gain Reclassified (Loss) Reclassified (Loss) Recognized in from Other from Other Other Comprehensive Comprehensive Comprehensive Derivatives Income (Loss) Income (Loss) Income (Loss) Six Months Ended Six Months Ended April 30, April 30, 2017 2016 2017 2016 Designated as Hedging Instruments: (Effective portion) Foreign exchange forward contracts – Intercompany sales/purchases $ 424 $ (567) Cost of sales and service $ 108 $ 1,474 Foreign exchange forward contract – Net investment $ 30 $ (80)
Period One [Member] | Not Designated as Hedging Instrument [Member]
Schedule of Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized Amount of Gain (Loss) Derivatives in Operations Recognized in Operations Three Months Ended April 30, Not Designated as Hedging Instruments: 2017 2016 Foreign exchange forward contracts Other (income) expense, net $ 165 $ (1,239) Location of Gain (Loss) Recognized Amount of Gain (Loss) Derivatives in Operations Recognized in Operations Six Months Ended April 30, 2017 2016 Not Designated as Hedging Instruments: Foreign exchange forward contracts Other (income) expense, net $ 955 $ (1,100)

EQUITY INCENTIVE PLAN (Tables)

EQUITY INCENTIVE PLAN (Tables)	6 Months Ended
	Apr. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock Option Activity	Stock Weighted Outstanding at October 31, 2016 107,889 $ 20.25 Options granted — — Options exercised (12,164) 22.11 Options cancelled — — Outstanding at April 30, 2017 95,725 $ 20.01
Schedule of Information about Outstanding Stock Options that have Already Vested and those that are Expected to Vest	Options Already Number of outstanding options 95,725 Weighted average remaining contractual life (years) 3.73 Weighted average exercise price per share $ 20.01 Intrinsic value of outstanding options $ 894,000
Reconciliation of Restricted Stock Activity and Related Information	Weighted Average Number of Grant Date Shares Fair Value Unvested at October 31, 2016 147,350 $ 28.79 Shares or units granted 71,011 34.61 Shares or units vested (38,930) 26.98 Shares or units cancelled (7,678) 29.98 Shares withheld (13,944) 25.89 Unvested at April 30, 2017 157,809 $ 32.05

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Apr. 30, 2017
Earnings Per Share [Abstract]
Reconciliation of Basic and Diluted Earnings Per Share	Three Months Ended Six Months Ended April 30, April 30, 2017 2016 2017 2016 Basic Diluted Basic Diluted Basic Diluted Basic Diluted Net income $ 3,646 $ 3,646 $ 3,674 $ 3,674 $ 4,525 $ 4,525 $ 7,569 $ 7,569 Undistributed earnings allocated to participating shares (24) (24) (21) (21) (30) (30) (43) (43) Net income applicable to common shareholders $ 3,622 $ 3,622 $ 3,653 $ 3,653 $ 4,495 $ 4,495 $ 7,526 $ 7,526 Weighted average shares outstanding 6,617 6,617 6,570 6,570 6,600 6,600 6,564 6,564 Stock options and contingently issuable shares — 54 — 71 — 64 — 66 6,617 6,671 6,570 6,641 6,600 6,664 6,564 6,630 Income per share $ 0.55 $ 0.54 $ 0.56 $ 0.56 $ 0 .68 $ 0.67 $ 1.15 $ 1.14

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Apr. 30, 2017
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories, priced at the lower of cost (first-in, first-out method) or market, are summarized below (in thousands): April 30, October 31, Purchased parts and sub-assemblies $ 28,430 $ 25,661 Work-in-process 18,065 17,724 Finished goods 72,358 73,640 $ 118,853 $ 117,025

GUARANTEES AND PRODUCT WARRAN26

GUARANTEES AND PRODUCT WARRANTIES (Tables)	6 Months Ended
	Apr. 30, 2017
Standard Product Warranty Disclosure [Abstract]
Reconciliation of Warranty Reserve	A reconciliation of the changes in our warranty reserve is as follows (in thousands): Six Months Ended 2017 2016 Balance, beginning of period $ 1,523 $ 2,186 Provision for warranties during the period 1,614 1,414 Charges to the reserve (1,605) (1,755) Impact of foreign currency translation 9 8 Balance, end of period $ 1,541 $ 1,853

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Apr. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Fair Value	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 April 30, 2017 and October 31, 2016 (in thousands): Assets Liabilities April 30, October 31, April 30, October 31, 2017 2016 2017 2016 Level 1 Deferred Compensation $ 1,508 $ 1,363 $ - $ - Level 2 Derivatives $ 1,227 $ 1,725 $ 517 $ 538

DERIVATIVE INSTRUMENTS AND HE28

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Schedule of Fair Value of Derivative Instruments) (Details) - USD ($) $ in Thousands	Apr. 30, 2017	Oct. 31, 2016
Derivatives, Fair Value [Line Items]
Derivative assets	$ 1,227	$ 1,725
Derivative liabilities	517	538
Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	997	1,721
Derivative liabilities	442	173
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	230	4
Derivative liabilities	$ 75	$ 365

DERIVATIVE INSTRUMENTS AND HE29

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 ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2017	Apr. 30, 2016
Designated as Hedging Instrument [Member] | Intercompany sales/purchases [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss)	$ 95	$ (736)	$ 424	$ (567)
Designated as Hedging Instrument [Member] | Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Other Comprehensive Income (Loss)	317	546	108	1,474
Designated as Hedging Instrument [Member] | Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss)	(9)	(116)	30	(80)
Not Designated as Hedging Instrument [Member] | Other Income And Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Operations	$ 165	$ (1,239)	$ 955	$ (1,100)

DERIVATIVE INSTRUMENTS AND HE30

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Schedule of Changes in Components of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2017	Apr. 30, 2016
Derivative [Line Items]
Beginning Balance	$ (10,608)		$ (11,043)
Other comprehensive income before reclassifications	2,354		2,580
Reclassifications	(317)	$ (546)	(108)	$ (1,474)
Ending Balance	(8,571)		(8,571)
Foreign Currency Translation [Member]
Derivative [Line Items]
Beginning Balance	(12,428)		(12,325)
Other comprehensive income before reclassifications	2,259		2,156
Reclassifications	0		0
Ending Balance	(10,169)		(10,169)
Cash Flow Hedges [Member]
Derivative [Line Items]
Beginning Balance	1,820		1,282
Other comprehensive income before reclassifications	95		424
Reclassifications	(317)		(108)
Ending Balance	$ 1,598		$ 1,598

DERIVATIVE INSTRUMENTS AND HE31

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Narrative) (Details) € in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Nov. 30, 2016EUR (€)	Apr. 30, 2017USD ($)	Apr. 30, 2016USD ($)	Apr. 30, 2017USD ($)	Apr. 30, 2016USD ($)	Oct. 31, 2016USD ($)
Derivative financial instruments:
Notional principal of foreign exchange contracts		$ 112,500,000		$ 112,500,000		$ 125,600,000
(Losses) gains, net of tax, related to cash flow hedges deferred in Accumulated Other Comprehensive Loss		1,600,000		1,600,000
Unrealized gain (loss), net of tax, to be reclassified in next 12 months		372,000		372,000
Gain (loss) on hedge ineffectiveness		32,000	$ 32,000	168,000	$ 32,000
Not Designated as Hedging Instrument [Member]
Derivative financial instruments:
Notional principal of foreign exchange contracts		57,700,000		57,700,000
Forward Contracts [Member] | Designated as Hedging Instrument [Member]
Derivative financial instruments:
Realized gain on net investment hedge				809,000
Notional amount of derivatives designated as net investment hedge | €	€ 3
Unrealized gain (loss), net of tax, recorded as cumulative translation adjustments in Accumulated Other Comprehensive Loss		(14,000)		$ (14,000)
Derivative maturity date				May 2017 through April 2018
Forward Contracts [Member] | Not Designated as Hedging Instrument [Member]
Derivative financial instruments:
Derivative maturity date				May 2017 through October 2017
Euros [Member] | Designated as Hedging Instrument [Member]
Derivative financial instruments:
Notional principal of foreign exchange contracts		23,700,000		$ 23,700,000
Pounds Sterling [Member] | Designated as Hedging Instrument [Member]
Derivative financial instruments:
Notional principal of foreign exchange contracts		7,300,000		7,300,000
New Taiwan Dollars [Member] | Designated as Hedging Instrument [Member]
Derivative financial instruments:
Notional principal of foreign exchange contracts		$ 21,500,000		$ 21,500,000

EQUITY INCENTIVE PLAN (Summary

EQUITY INCENTIVE PLAN (Summary of Stock Option Activity and Related Information) (Details)	6 Months Ended
	Apr. 30, 2017$ / sharesshares
Stock Options
Outstanding | shares	107,889
Options granted | shares	0
Options exercised | shares	(12,164)
Options cancelled | shares	0
Outstanding | shares	95,725
Weighted Average Exercise Price
Outstanding | $ / shares	$ 20.25
Options granted | $ / shares	0
Options exercised | $ / shares	22.11
Options cancelled | $ / shares	0
Outstanding | $ / shares	$ 20.01

EQUITY INCENTIVE PLAN (Schedule

EQUITY INCENTIVE PLAN (Schedule of Information about Outstanding Stock Options Vested and Expected to Vest) (Details)	6 Months Ended
	Apr. 30, 2017USD ($)$ / sharesshares
Options Currently Exercisable
Number of outstanding options | shares	95,725
Weighted average remaining contractual life (years)	3 years 8 months 23 days
Weighted average exercise price per share | $ / shares	$ 20.01
Intrinsic value of outstanding options | $	$ 894,000

EQUITY INCENTIVE PLAN (Reconcil

EQUITY INCENTIVE PLAN (Reconciliation of Restricted Stock Activity and Related Information) (Details)	6 Months Ended
	Apr. 30, 2017$ / sharesshares
Number of Shares
Unvested at October 31, 2016 | shares	147,350
Shares or units granted | shares	71,011
Shares or units vested | shares	(38,930)
Shares or units cancelled | shares	(7,678)
Shares withheld | shares	(13,944)
Unvested at April 30, 2017 | shares	157,809
Weighted Average Grant Date Fair Value
Unvested at October 31, 2016 | $ / shares	$ 28.79
Shares or units granted | $ / shares	34.61
Shares or units vested | $ / shares	26.98
Shares or units cancelled | $ / shares	29.98
Shares withheld | $ / shares	25.89
Unvested at April 30, 2017 | $ / shares	$ 32.05

EQUITY INCENTIVE PLAN (Narrativ

EQUITY INCENTIVE PLAN (Narrative) (Details) - USD ($)	Mar. 10, 2017	Mar. 09, 2017	Jan. 05, 2017	Apr. 30, 2017	Apr. 30, 2016	Oct. 31, 2016	Mar. 10, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				$ 646,000	$ 759,000
Unrecognized Stock-based compensation expense				$ 2,900,000
Restricted stock granted				71,011
Grant date fair value of restricted stock				$ 32.05		$ 28.79
Weighted Average Grant Date Fair Value				$ 26.98
2016 Equity Plan [Member]
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 2016 Plan							856,048
2008 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Available for Grant under the 2008 Plan							386,048
Long-term Incentive Compensation [Member] | Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted			30,683
Vesting Date			Jan. 5, 2017
Weighted Average Grant Date Fair Value			$ 33.90
Time Based [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted			14,747
Grant date fair value of restricted stock			$ 33.90
Vesting period		1 year
Percentage of incentive compensation arrangement			25.00%
Time Based [Member] | 2016 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted		14,920
Grant date fair value of restricted stock		$ 26.80
Performance Based [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Percentage of incentive compensation arrangement			75.00%
Performance Based [Member] | PSU TSR [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted			18,496
Grant date fair value of restricted stock			$ 43.25
Percentage of incentive compensation arrangement			40.00%
Performance Based [Member] | PSU TSR [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of incentive compensation arrangement			200.00%
Performance Based [Member] | PSU TSR [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of incentive compensation arrangement			50.00%
Performance Based [Member] | PSU ROIC [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted			20,647
Grant date fair value of restricted stock			$ 33.90
Percentage of incentive compensation arrangement			35.00%
Performance Based [Member] | PSU ROIC [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of incentive compensation arrangement			200.00%
Performance Based [Member] | PSU ROIC [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of incentive compensation arrangement			50.00%

EARNINGS PER SHARE (Reconciliat

EARNINGS PER SHARE (Reconciliation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2017	Apr. 30, 2016
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 3,646	$ 3,674	$ 4,525	$ 7,569
Undistributed earnings allocated to participating shares	(24)	(21)	(30)	(43)
Net income applicable to common shareholders	$ 3,622	$ 3,653	$ 4,495	$ 7,526
Weighted average shares outstanding, Basic	6,617	6,570	6,600	6,564
Stock options and contingently issuable shares	54	71	64	66
Weighted average shares outstanding, Diluted	6,671	6,641	6,664	6,630
Income per share, Basic	$ 0.55	$ 0.56	$ 0.68	$ 1.15
Income per share, Diluted	$ 0.54	$ 0.56	$ 0.67	$ 1.14

ACCOUNTS RECEIVABLE (Narrative)

ACCOUNTS RECEIVABLE (Narrative) (Details) - USD ($)	Apr. 30, 2017	Oct. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for Doubtful Accounts Receivable	$ 653,000	$ 664,000

INVENTORIES (Schedule Of Invent

INVENTORIES (Schedule Of Inventory Current) (Details) - USD ($) $ in Thousands	Apr. 30, 2017	Oct. 31, 2016
Inventory [Line Items]
Purchased parts and sub-assemblies	$ 28,430	$ 25,661
Work-in-process	18,065	17,724
Finished goods	72,358	73,640
Inventories	$ 118,853	$ 117,025

GUARANTEES AND PRODUCT WARRAN39

GUARANTEES AND PRODUCT WARRANTIES (Reconciliation of the changes in our warranty reserve) (Details) - USD ($) $ in Thousands	6 Months Ended
	Apr. 30, 2017	Apr. 30, 2016
Product Warranty Liability [Line Items]
Balance, beginning of period	$ 1,523	$ 2,186
Provision for warranties during the period	1,614	1,414
Charges to the reserve	(1,605)	(1,755)
Impact of foreign currency translation	9	8
Balance, end of period	$ 1,541	$ 1,853

GUARANTEES AND PRODUCT WARRAN40

GUARANTEES AND PRODUCT WARRANTIES (Narrative) (Details) $ in Millions	6 Months Ended
	Apr. 30, 2017USD ($)
Product Warranty Liability [Line Items]
Number Of Guarantees	24
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 1.1
Term of Product Warranty	1 year

DEBT AGREEMENTS (Narrative) (De

DEBT AGREEMENTS (Narrative) (Details) € in Millions, ¥ in Millions, £ in Millions, $ in Millions	Dec. 06, 2016USD ($)	Dec. 07, 2012USD ($)	Feb. 16, 2017USD ($)	Apr. 30, 2017USD ($)	Apr. 30, 2017EUR (€)	Apr. 30, 2017GBP (£)	Feb. 16, 2017CNY (¥)	Feb. 15, 2017CNY (¥)	Dec. 05, 2016USD ($)	Oct. 31, 2016
Line of Credit Facility [Line Items]
Borrowings available under credit facility				$ 19.4
Letter of Credit [Member]
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	$ 5
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	15								$ 12.5
Maximum dividends allowable	5								4
Minimum working capital requirement	105								90
Minimum tangible net worth requirement	$ 125								$ 120
Line of Credit, interest rate description				Borrowings under our U.S. credit agreement bear interest either at a LIBOR-based rate or a floating rate, in each case with an interest rate floor of 0.00%. The floating rate equals 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, (c) the prevailing prime rate and (d) 0.00%. The rate we must pay for that portion of the U.S. credit agreement which is not utilized is 0.05% per annum.
Line of credit, maturity date	Dec. 31, 2018
Allowable investments in subsidiaries		$ 5
Revolving Credit Facility [Member] | United Kingdom [Member]
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity | £						£ 1
Revolving Credit Facility [Member] | Germany [Member]
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity | €					€ 1.5
Revolving Credit Facility [Member] | China [Member]
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity			$ 2.9				¥ 20	¥ 40
Line of credit, maturity date			Feb. 15, 2018
Interest rate				4.40%	4.40%	4.40%				4.60%
Long-term Line of Credit				$ 1.5

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2017	Apr. 30, 2016	Oct. 31, 2016
Income Tax Contingency [Line Items]
Unrecognized tax benefits, interest accrued	$ 62,000		$ 62,000
Effective Income Tax Rate Reconciliation, Percent, Total			31.00%	28.00%
Unrecognized Tax Benefits Expiration Term			expire between July 2017 and July 2019.
Income Tax Expense (Benefit)	1,467,000	$ 1,225,000	$ 2,010,000	$ 2,934,000
Unrecognized Tax Benefits, Ending Balance	$ 1,200,000		$ 1,200,000		$ 1,100,000

FINANCIAL INSTRUMENTS (Fair val

FINANCIAL INSTRUMENTS (Fair value hierarchy) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Apr. 30, 2017	Oct. 31, 2016
Level 1 [Member]
Assets
Deferred Compensation	$ 1,508	$ 1,363
Liabilities
Deferred Compensation	0	0
Level 2 [Member]
Assets
Derivatives	1,227	1,725
Liabilities
Derivatives	$ 517	$ 538

FINANCIAL INSTRUMENTS (Narrativ

FINANCIAL INSTRUMENTS (Narrative) (Details) - USD ($) $ in Thousands	Apr. 30, 2017	Oct. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amount of contracts	$ 112,500	$ 125,600
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Derivatives	1,227	1,725
Liabilities
Derivatives	$ 517	$ 538