RF Industries (RFIL) 10-Q 12 Sep 18 2018 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jul. 31, 2018	Sep. 11, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Entity Registrant Name	R F INDUSTRIES LTD
Entity Central Index Key	740,664
Current Fiscal Year End Date	--10-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	RFIL
Entity Common Stock, Shares Outstanding		9,289,701

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 31, 2018	Oct. 31, 2017
CURRENT ASSETS
Cash and cash equivalents	$ 11,591	$ 6,039
Trade accounts receivable, net of allowance for doubtful accounts of $88 and $73, respectively	5,888	3,901
Inventories	6,854	6,109
Other current assets	854	744
TOTAL CURRENT ASSETS	25,187	16,793
Property and equipment:
Equipment and tooling	3,451	3,302
Furniture and office equipment	824	871
Property, Plant and Equipment, Gross	4,275	4,173
Less accumulated depreciation	3,669	3,462
Total property and equipment	606	711
Goodwill	3,219	3,219
Amortizable intangible assets, net	2,615	3,030
Non-amortizable intangible assets	1,237	1,237
Other assets	49	70
TOTAL ASSETS	32,913	25,060
CURRENT LIABILITIES
Accounts payable	1,842	1,356
Accrued expenses	3,490	2,242
TOTAL CURRENT LIABILITIES	5,332	3,598
Deferred tax liabilities	186	119
TOTAL LIABILITIES	5,518	3,717
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock - authorized 20,000,000 shares of $0.01 par value; 9,267,597 and 8,872,246 shares issued and outstanding at July 31, 2018 and October 31, 2017, respectively	93	89
Additional paid-in capital	20,857	19,654
Retained earnings	6,445	1,600
TOTAL STOCKHOLDERS' EQUITY	27,395	21,343
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 32,913	$ 25,060

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jul. 31, 2018	Oct. 31, 2017
Trade accounts receivable, allowance for doubtful accounts	$ 88	$ 73
Common stock, authorized	20,000,000	20,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	9,267,597	8,872,246
Common stock, shares outstanding	9,267,597	8,872,246

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Net sales	$ 13,850	$ 7,808	$ 46,571	$ 22,065
Cost of sales	9,294	5,592	30,858	16,038
Gross profit	4,556	2,216	15,713	6,027
Operating expenses:
Engineering	292	215	1,255	643
Selling and general	2,121	1,817	7,745	5,493
Total operating expense	2,413	2,032	9,000	6,136
Operating income (loss)	2,143	184	6,713	(109)
Other income	13	5	20	23
Income (loss) from continuing operations before provision (benefit) for income taxes	2,156	189	6,733	(86)
Provision (benefit) for income taxes	425	18	1,344	(54)
Income (loss) from continuing operations	1,731	171	5,389	(32)
Income from discontinued operations, net of tax	0	21	0	109
Consolidated net income	$ 1,731	$ 192	$ 5,389	$ 77
Earnings per share
Continuing operations	$ 0.19	$ 0.02	$ 0.60	$ 0
Discontinued operations	0	0	0	0.01
Net income per share	0.19	0.02	0.60	0.01
Earnings per share
Continuing operations	0.18	0.02	0.57	0
Discontinued operations	0	0	0	0.01
Net income per share	$ 0.18	$ 0.02	$ 0.57	$ 0.01
Weighted average shares outstanding
Basic	9,202,095	8,838,027	9,045,340	8,835,852
Diluted	9,729,608	8,915,794	9,442,612	8,886,395

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
OPERATING ACTIVITIES:
Net income	$ 5,389	$ 77
Adjustments to reconcile net income to net cash provided by operating activities:
Bad debt expense	22	10
Depreciation and amortization	634	649
Gain on sale of fixed assets	(1)	0
Stock-based compensation expense	189	161
Deferred income taxes	67	24
Changes in operating assets and liabilities:
Trade accounts receivable	(2,009)	274
Inventories	(745)	(460)
Other current assets	(110)	706
Other long-term assets	21	51
Accounts payable	486	86
Accrued expenses	1,248	(637)
Other long-term liabilities	0	(128)
Net cash provided by operating activities	5,191	813
INVESTING ACTIVITIES:
Proceeds from landlord for tenant improvements	34	0
Proceeds from sale of fixed assets	1	0
Capital expenditures	(148)	(44)
Net cash used in investing activities	(113)	(44)
FINANCING ACTIVITIES:
Proceeds from exercise of stock options	1,018	25
Excess tax benefit from cancelled stock options	0	(24)
Dividends paid	(544)	(530)
Net cash provided by (used in) financing activities	474	(529)
Net increase in cash and cash equivalents	5,552	240
Cash and cash equivalents, beginning of period	6,039	5,258
Cash and cash equivalents, end of period	11,591	5,498
Supplemental cash flow information - income taxes paid	1,503	31
Supplemental schedule of noncash investing and financing activities:
Sale of fully depreciated property and equipment	$ 12	$ 0

Unaudited interim condensed con

Unaudited interim condensed consolidated financial statements	9 Months Ended
	Jul. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Unaudited interim condensed consolidated financial statements	Note 1 - Unaudited interim condensed consolidated financial statements The accompanying unaudited condensed consolidated financial statements of RF Industries, Ltd. and its divisions and three wholly-owned subsidiaries (collectively, hereinafter the “Company”) have been prepared in conformity with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments, which are normal and recurring, have been included in order to make the information not misleading. Information included in the consolidated balance sheet as of October 31, 2017 has been derived from, and certain terms used herein are defined in, the audited consolidated financial statements of the Company as of October 31, 2017 included in the Company’s Annual Report on Form 10-K (“Form 10-K”) for the year ended October 31, 2017 that was previously filed with the Securities and Exchange Commission (“SEC”). Operating results for the three- and nine-months ended July 31, 2018 are not necessarily indicative of the results that may be expected for the year ending October 31, 2018. The unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended October 31, 2017. Principles of consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of RF Industries, Ltd., Cables Unlimited, Inc. (“Cables Unlimited”), Comnet Telecom Supply, Inc. (“Comnet”), and Rel-Tech Electronics, Inc. (“Rel-Tech”), wholly-owned subsidiaries of RF Industries, Ltd. All intercompany balances and transactions have been eliminated in consolidation. Revenue recognition Four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services rendered; (3) the fee is fixed and determinable; and (4) collectability is reasonably assured. The Company recognizes revenue from product sales after purchase orders are received that contain a fixed price and for shipments with terms of FOB Shipping Point, revenue is recognized upon shipment, for shipments with terms of FOB Destination, revenue is recognized upon delivery and revenue from services is recognized when services are performed, and the recovery of the consideration is considered probable. Recent accounting standards Recently issued accounting pronouncements not yet adopted: In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases. This ASU requires lessees to recognize most leases on their balance sheets related to the rights and obligations created by those leases. The ASU also requires additional qualitative and quantitative disclosures related to the nature, timing and uncertainty of cash flows arising from leases. The guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact the adoption of this new standard will have on its Consolidated Financial Statements. In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers. This guidance will supersede Topic 605, Revenue Recognition, in addition to other industry-specific guidance, once effective. The new standard requires a company to recognize revenue in a manner that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date, as a revision to ASU 2014-09, which revised the effective date to fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption is permitted but not prior to periods beginning after December 15, 2016 (i.e., the original adoption date per ASU 2014-09). In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers: Principal versus Agent Considerations, which clarifies certain aspects of the principal-versus-agent guidance, including how an entity should identify the unit of accounting for the principal versus agent evaluation and how it should apply the control principle to certain types of arrangements, such as service transactions. The amendments also reframe the indicators to focus on evidence that an entity is acting as a principal rather than as an agent. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing, which clarifies how an entity should evaluate the nature of its promise in granting a license of intellectual property, which will determine whether it recognizes revenue over time or at a point in time. The amendments also clarify when a promised good or service is separately identifiable (i.e., distinct within the context of the contract) and allow entities to disregard items that are immaterial in the context of a contract. The Company assessed the impact this new standard has on its financial reporting. The Company identified its revenue streams both by contract and product type and determined that there was no material impact in the timing or amount of revenue recognized. In January 2017, the FASB issued Accounting Standards Update No. 2017-04, Intangibles-Goodwill and Other, which simplifies the accounting for goodwill impairments by eliminating step 2 from the goodwill impairment test. Instead, if “the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit.” The guidance is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating the impact the adoption of this new standard will have on its Consolidated Financial Statements. Recently issued accounting pronouncements adopted: In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Compensation – Stock Compensation. The new standard modified several aspects of the accounting and reporting for employee share-based payments and related tax accounting impacts, including the presentation in the statements of operations and cash flows of certain tax benefits or deficiencies and employee tax withholdings, as well as the accounting for award forfeitures over the vesting period. One provision within this pronouncement requires that excess income tax benefits and tax deficiencies related to share-based payments be recognized within income tax expense in the statement of income, rather than within additional paid-in capital on the balance sheet. The Company adopted this provision in the first quarter of fiscal 2018. The adoption of this provision was applied prospectively. The impact to the Company's results of operations related to this provision for the nine month period ended July 31, 2018 was the recognition of an income tax benefit of $163,000 within income tax expense, resulting in a 2.4% reduction to the effective tax rate versus if the standard had not been adopted. The impact of this provision on the Company's future results of operations will depend in part on the market prices for the Company's shares on the dates there are taxable events related to share awards. In connection with another provision within this pronouncement, the Company has elected to account for forfeitures as they occur rather than estimate expected forfeitures, with the change being applied prospectively. The adoption of this and other provisions within the pronouncement did not have a material impact on the Company’s consolidated financial statements.

Discontinued operations

Discontinued operations	9 Months Ended
	Jul. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Discontinued operations	Note 2 - Discontinued operations For the three and nine months ended July 31, 2018, the Company did not recognize any royalty income. For the three and nine months ended July 31, 2017, the Company recognized approximately $34,000 and $162,000 of royalty income, respectively, for RadioMobile, which amounts of which have been included within discontinued operations. During March 2016, the Company announced the shutdown of its Bioconnect division, which comprised the entire operations of the Medical Cabling and Interconnect segment. The closure is part of the Company’s ongoing plan to close or dispose of underperforming divisions that are not part of the Company’s core operations. For the three and nine months ended July 31, 2017, the Company recognized approximately $0 and $10,000 of income from sale of equipment for the Bioconnect division, respectively, which amounts have been included within discontinued operations.

Inventories and major vendors

Inventories and major vendors	9 Months Ended
	Jul. 31, 2018
Inventory Disclosure [Abstract]
Inventories and major vendors	Note 3 - Inventories and major vendors Inventories, consisting of materials, labor and manufacturing overhead, are stated at the lower of cost or market. Cost has been determined using the weighted average cost method. Inventories consist of the following (in thousands): July 31, 2018 October 31, 2017 Raw materials and supplies $ 2,867 $ 2,520 Work in process 389 194 Finished goods 3,598 3,395 Totals $ 6,854 $ 6,109 One vendor accounted for 46% of inventory purchases for the three months ended July 31, 2018. This same vendor accounted for 41% of inventory purchases for the nine months ended July 31, 2018. One vendor accounted for 11% of inventory purchases for the three months ended July 31, 2017. No vendor accounted for greater than 10% of inventory purchases for the nine months ended July 31, 2017. The Company has arrangements with these vendors to purchase products based on purchase orders periodically issued by the Company.

Other current assets

Other current assets	9 Months Ended
	Jul. 31, 2018
Other current assets [Abstract]
Other current assets	Note 4 - Other current assets Other current assets consist of the following (in thousands): July 31, 2018 October 31, 2017 Prepaid taxes $ 246 $ 20 Prepaid expense 357 526 Notes receivable, current portion 41 83 Other 210 115 Totals $ 854 $ 744 Long-term portion of notes receivable of $0 and $21,000 is recorded in other assets at July 31, 2018 and October 31, 2017, respectively.

Accrued expenses and other long

Accrued expenses and other long-term liabilities	9 Months Ended
	Jul. 31, 2018
Payables and Accruals [Abstract]
Accrued expenses and other long-term liabilities	Note 5 - Accrued expenses and other long-term liabilities Accrued expenses consist of the following (in thousands): July 31, 2018 October 31, 2017 Wages payable $ 2,052 $ 855 Accrued receipts 800 695 Earn-out liability 210 236 Other current liabilities 428 456 Totals $ 3,490 $ 2,242 Accrued receipts represent purchased inventory for which invoices have not been received. The Company measures at fair value certain financial assets and liabilities. U. S. GAAP specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company's market assumptions. These two types of inputs have created the following fair-value hierarchy: Level 1 - Quoted prices for identical instruments in active markets; Level 2 - Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and Level 3 - Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The contingent consideration liability represents future earn-out liability that we may be required to pay in conjunction with the acquisition of Rel-Tech and Comnet. The Company estimates the fair value of the earn-out liability using a probability-weighted scenario of estimated qualifying earn-out gross profit related to Rel-Tech and EBITDA related to Comnet calculated at net present value (level 3 of the fair value hierarchy). The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of July 31, 2018 (in thousands): Description Level 1 Level 2 Level 3 Earn-out liability $ - $ - $ 210 The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of October 31, 2017 (in thousands): Description Level 1 Level 2 Level 3 Earn-out liability $ - $ - $ 236 The following table summarizes the Level 3 transactions for the three months ended July 31, 2018, April 30, 2018, January 31, 2018 and for the year ended October 31, 2017 (in thousands): Level 3 July 31, 2018 April 30, 2018 January 31, 2018 October 31, 2017 Beginning balance $ 220 $ 206 $ 236 $ 835 Payments - - - (578 ) Change in value (10 ) 14 (30 ) (21 ) Ending Balance $ 210 $ 220 $ 206 $ 236 In August 2018, the earn-out liability to Rel-Tech of $210,000 was paid.

Earnings per share

Earnings per share	9 Months Ended
	Jul. 31, 2018
Earnings Per Share [Abstract]
Earnings per share	Note 6 - Earnings per share Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding increased by the effects of assuming that other potentially dilutive securities (such as stock options) outstanding during the period had been exercised and the treasury stock method had been applied. Potentially dilutive securities totaling 0 and 812,244 for the three months ended July 31, 2018 and 2017, respectively, and 245,328 and 1,104,837 for the nine months ended July 31, 2018 and 2017, respectively, were excluded from the calculation of diluted per share amounts because of their anti-dilutive effect. The following table summarizes the computation of basic and diluted weighted average shares outstanding: Three Months Ended July 31, Nine Months Ended July 31, 2018 2017 2018 2017 Weighted average shares outstanding for basic earnings per share 9,202,095 8,838,027 9,045,340 8,835,852 Add effects of potentially dilutive securities-assumed exercise of stock options 527,513 77,767 397,272 50,543 Weighted average shares outstanding for diluted earnings per share 9,729,608 8,915,794 9,442,612 8,886,395

Stock-based compensation and eq

Stock-based compensation and equity transactions	9 Months Ended
	Jul. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation and equity transactions	Note 7 - Stock-based compensation and equity transactions The Company’s current stock incentive plan provides for the granting of qualified and nonqualified options to the Company’s officers, directors and employees. The Company satisfies the exercise of options by issuing previously unissued common shares. On July 17, 2017, the Company granted 100,000 incentive stock options to its newly hired President and Chief Executive Officer. These options, which expire in ten years from the date of grant, vested as to 10,000 shares on the date of grant, and the balance thereafter vests as to 10,000 shares per annum over the remaining nine years of the grant. On December 13, 2017, the Company granted 80,000 incentive stock options to an employee. These options vested 8,000 shares on the date of grant, and the balance vests as to 8,000 shares per year thereafter on each of the next nine anniversaries of December 13, 2017, and expire ten years from date of grant. No other options were granted to Company employees during the three and nine months ended July 31, 2018 and 2017. The weighted average fair value of employee and non-employee directors’ stock options granted by the Company during the nine months ended July 31, 2018 and 2017 was estimated to be $2.44 and $1.60, respectively, per share, using the Black-Scholes option pricing model with the following assumptions: Nine Months Ended July 31, 2018 2017 Risk-free interest rate 1.87 % 1.20 % Dividend yield 3.28 % 5.00 % Expected life of the option 4.54 years 4.31 years Volatility factor 46.83 % 43.30 % Expected volatilities are based on historical volatility of the Company’s stock price and other factors. The Company used the historical method to calculate the expected life of the 2018 and 2017 option grants. The expected life represents the period of time that options granted are expected to be outstanding. The risk-free rate is based on the U.S. Treasury rate with a maturity date corresponding to the options’ expected life. The dividend yield is based upon the historical dividend yield. Company stock option plans Descriptions of the Company’s stock option plans are included in Note 9 of the Company’s Annual Report on Form 10-K for the year ended October 31, 2017. A summary of the status of the options granted under the Company’s stock option plans as of July 31, 2018 and the changes in options outstanding during the nine months then ended is presented in the table that follows: Weighted Average Shares Exercise Price Outstanding at November 1, 2017 1,159,771 $ 3.20 Options granted 269,635 $ 2.44 Options exercised (396,087 ) $ 2.57 Options canceled or expired (63,718 ) $ 4.88 Options outstanding at July 31, 2018 969,601 $ 3.11 Options exercisable at July 31, 2018 654,863 $ 3.09 Options vested and expected to vest at July 31, 2018 967,379 $ 3.11 Weighted average remaining contractual life of options outstanding as of July 31, 2018: 4.67 years Weighted average remaining contractual life of options exercisable as of July 31, 2018: 3.33 years Weighted average remaining contractual life of options vested and expected to vest as of July 31, 2018: 4.65 years Aggregate intrinsic value of options outstanding at July 31, 2018: $6,612,000 Aggregate intrinsic value of options exercisable at July 31, 2018: $4,461,000 Aggregate intrinsic value of options vested and expected to vest at July 31, 2018: $6,583,000 As of July 31, 2018, $305,000 of expense with respect to nonvested share-based arrangements has yet to be recognized but is expected to be recognized over a weighted average period of 6.02 years. Non-employee directors receive $50,000 annually, which is paid one-half in cash and one-half through the grant of non-qualified stock options to purchase shares of the Company’s common stock. During the quarter ended January 31, 2018, the Company granted each of its five non-employee directors 37,927 non-qualified stock options. The number of stock options granted to each director was determined by dividing $25,000 by the fair value of a stock option grant using the Black-Scholes model ($0.659 per share). These options vest ratably over fiscal year 2018 and expires five year from the date of grant. During the quarter ended July 31, 2018, the Company did not grant any options. Stock option expense During the nine months ended July 31, 2018 and 2017, stock-based compensation expense totaled $189,000 and $161,000, respectively. During the three months ended July 31, 2018 and 2017, stock-based compensation expense totaled $57,000 and $62,000, respectively. For the nine months ended July 31, 2018 and 2017, stock-based compensation classified in cost of sales amounted to $0 and $9,000, respectively, and stock-based compensation classified in selling and general expense amounted to $189,000 and $152,000, respectively.

Concentrations of credit risk

Concentrations of credit risk	9 Months Ended
	Jul. 31, 2018
Risks and Uncertainties [Abstract]
Concentrations of credit risk	Note 8 - Concentrations of credit risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents with high-credit quality financial institutions. At July 31, 2018, the Company had cash and cash equivalent balances in excess of federally insured limits in the amount of approximately $10.5 million. One customer who is a distributor, accounted for approximately 56% of the Company’s net sales for the nine-month period ended July 31, 2018. This same customer accounted for approximately 51% of the Company’s net sales for the three-month period ended July 31, 2018. At July 31, 2018, this customer’s accounts receivable balance accounted for approximately 53% of the total net accounts receivable balance. For the nine-month period ended July 31, 2017, two customers, a distributor and data center solutions provider accounted for approximately 18% and 13% of the Company’s net sales, respectively. These same two customers accounted for approximately 22% and 11% of the Company’s net sales, respectively, for the three months ended July 31, 2017. At July 31, 2017, these customers’ accounts receivable balances accounted for approximately 26% and 10% of the Company’s total net accounts receivable balance, respectively. Although these customers have been on-going major customers of the Company, the written agreements with these customers do not have any minimum purchase obligations and they could stop buying the Company’s products at any time and for any reason. A reduction, delay or cancellation of orders from these customers or the loss of these customers could significantly reduce the Company’s future revenues and profits.

Segment information

Segment information	9 Months Ended
	Jul. 31, 2018
Segment Reporting [Abstract]
Segment information	Note 9 - Segment information The Company aggregates operating divisions into operating segments that have similar economic characteristics primarily in the following areas: (1) the nature of the product and services; (2) the nature of the production process; (3) the type or class of customer for their products and services; (4) the methods used to distribute their products or services; (5) if applicable, the nature of the regulatory environment. Based upon this evaluation, as of July 31, 2018, the Company had two segments: 1) RF Connector and Cable Assembly and 2) Custom Cabling Manufacturing and Assembly. The RF Connector and Cable Assembly segment consisted of one division and the Custom Cabling Manufacturing and Assembly segment was composed of three divisions. The four divisions that met the quantitative thresholds for segment reporting are Connector and Cable Assembly, Cables Unlimited, Comnet and Rel-Tech. The specific customers are different for each division; however, there is some overlapping of product sales to them. The methods used to distribute products are similar within each division aggregated. Management identifies the Company’s segments based on strategic business units that are, in turn, based along market lines. These strategic business units offer products and services to different markets in accordance with their customer base and product usage. For segment reporting purposes, the Connector and Cable Assembly division constitutes the RF Connector and Cable Assembly segment, and the Cables Unlimited, Comnet and Rel-Tech divisions constitute the Custom Cabling Manufacturing and Assembly segment. As reviewed by the Company’s chief operating decision maker, the Company evaluates the performance of each segment based on income or loss before income taxes. The Company charges depreciation and amortization directly to each division within the segment. Accounts receivable, inventory, property and equipment, goodwill and intangible assets are the only assets identified by segment. Except as discussed above, the accounting policies for segment reporting are the same for the Company as a whole. Substantially all of the Company’s operations are conducted in the United States; however, the Company derives a portion of its revenue from export sales. The Company attributes sales to geographic areas based on the location of the customers. The following table presents the sales of the Company by geographic area for the three and nine months ended July 31, 2018 and 2017 (in thousands): Three Months Ended July 31, Nine Months Ended July 31, 2018 2017 2018 2017 United States $ 13,682 $ 7,603 $ 46,069 $ 21,557 Foreign Countries: Canada 142 180 419 356 Mexico - - 40 77 All Other 26 25 43 75 168 205 502 508 Totals $ 13,850 $ 7,808 $ 46,571 $ 22,065 Net sales, income from continuing operations before provision for income taxes and other related segment information for the three months ended July 31, 2018 and 2017 are as follows (in thousands): RF Connector Custom Cabling and Manufacturing and Cable Assembly Assembly Corporate Total 2018 Net sales $ 3,139 $ 10,711 $ - $ 13,850 Income from continuing operations before provision for income taxes 310 1,833 13 2,156 Depreciation and amortization 42 170 - 212 2017 Net sales $ 2,964 $ 4,844 $ - $ 7,808 Income from continuing operations before provision for income taxes 153 31 5 189 Depreciation and amortization 43 172 - 215 Net sales, income (loss) from continuing operations before provision (benefit) for income taxes and other related segment information for the nine months ended July 31, 2018 and 2017 are as follows (in thousands): RF Connector Custom Cabling and Manufacturing and Cable Assembly Assembly Corporate Total 2018 Net sales $ 8,503 $ 38,068 $ - $ 46,571 Income (loss) from continuing operations before provision (benefit) for income taxes (34 ) 6,747 20 6,733 Depreciation and amortization 129 505 - 634 2017 Net sales $ 8,106 $ 13,959 $ - $ 22,065 Income (loss) from continuing operations before provision (benefit) for income taxes 236 (345 ) 23 (86 ) Depreciation and amortization 131 518 - 649

Income taxes

Income taxes	9 Months Ended
	Jul. 31, 2018
Income Tax Disclosure [Abstract]
Income taxes	Note 10 - Income taxes On December 22, 2017, the U.S. President signed the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act, among other things, lowered the U.S. corporate income tax rate from 35% to 21% effective January 1, 2018. Consequently, we adjusted our net deferred tax liability as of October 31, 2017 by $41,000 to reflect the estimated impact of the Tax Act. While we have substantially completed our provisional analysis of the income tax effects of the Tax Act and recorded a reasonable estimate of such effects, the net one-time charge related to the Tax Act may differ, possibly materially, due to, among other things, further refinement of our calculations, changes in interpretations and assumptions that we have made, additional guidance that may be issued by the U.S. Government, and actions and related accounting policy decisions we may take as a result of the Tax Act. We will complete our analysis over a one-year measurement period ending December 22, 2018, and any adjustments during this measurement period will be included in net earnings from continuing operations as an adjustment to income tax expense in the reporting period when such adjustments are determined. The Company uses an estimated annual effective tax rate, which is based on expected annual income, statutory tax rates and tax planning opportunities available in the various jurisdictions in which the Company operates, to determine its quarterly provision (benefit) for income taxes. Certain significant or unusual items are separately recognized in the quarter in which they occur and can be a source of variability in the effective tax rates from quarter to quarter. The provision (benefit) for income taxes was 20% and 10% of income before income taxes for the three months ended July 31, 2018 (the “fiscal 2018 quarter”) and 2017 (the “fiscal 2017 quarter”), respectively, and 20% and 63% of income (loss) before income taxes for the nine months ended July 31, 2018 (the “fiscal 2018 nine month period”) and 2017 (the “fiscal 2017 nine month period”), respectively. The increase in the effective tax rate from the fiscal 2017 quarter and fiscal 2018 quarter was primarily driven by better sales in the fiscal 2018 quarter resulting in higher income. The decrease in the effective income tax rate from the fiscal 2017 nine month period to the fiscal 2018 nine month period was primarily driven by the reduction of the federal corporate income tax rate due to the Tax Act resulting in the recognition of a benefit of $41,000, recognition of a stock option windfall benefit of $163,000 related to the exercise of NQSOs and the benefit of R&D credits. The Company recorded income from discontinued operations, net of tax, as disclosed in Note 2. The Company had no unrecognized tax benefits as of July 31, 2018 and October 31, 2017. The total balance of accrued interest and penalties related to uncertain tax positions was $0 as of July 31, 2018 and October 31, 2017. The Company recognizes interest and penalties related to uncertain tax positions, if any, as a component of income tax expense and the accrued interest and penalties, if any, are included in deferred and other long-term liabilities in the Company's condensed consolidated balance sheets. There were no material interest or penalties included in income tax expense for the nine months ended July 31, 2018 or 2017.

Intangible assets

Intangible assets	9 Months Ended
	Jul. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets	Note 11 - Intangible assets Intangible assets consist of the following (in thousands): July 31, 2018 October 31, 2017 Amortizable intangible assets: Customer relationships (estimated lives 7 - 15 years) $ 5,099 $ 5,099 Accumulated amortization (2,594 ) (2,186 ) 2,505 2,913 Patents (estimated life 14 years) 142 142 Accumulated amortization (32 ) (25 ) 110 117 Totals $ 2,615 $ 3,030 Non-amortizable intangible assets: Trademarks $ 1,237 $ 1,237 Amortization expense for the nine-months ended July 31, 2018 and the year ended October 31, 2017 was $415,000 and $589,000, respectively. The weighted-average amortization period for the amortizable intangible assets is 9.48 years.

Commitments

Commitments	9 Months Ended
	Jul. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments	Note 12 - Commitments The Company currently leases its corporate headquarters and RF connector and cable assembly manufacturing facilities in San Diego, California. On June 5, 2017, the Company entered into a fifth amendment to its lease for its facility in San Diego, California. As a result, the Company now leases a total of approximately 21,908 square feet of office, warehouse and manufacturing space at its San Diego location. The term of the lease expires on July 31, 2022, and the rental payments under the lease currently are $22,721 per month. The San Diego lease also requires the payment of the Company’s pro rata share of real estate taxes and insurance, maintenance and other operating expenses related to the facilities. (i) On June 9, 2017, the Cables Unlimited division entered into an amendment to its lease with K&K Unlimited, as landlord, under which Cables Unlimited leases its 12,000 square foot manufacturing facility in Yaphank, New York, to extend the term of the lease to June 30, 2018. Cables Unlimited’s monthly rent expense under the amended lease remains at $13,000 per month, plus payments of all utilities, janitorial expenses, routine maintenance costs and costs of insurance for Cables Unlimited’s business operations and equipment. The landlord is a company controlled by Darren Clark, the former owner and current President of Cables Unlimited. On June 6, 2018, Cables Unlimited extended its lease with K&K Unlimited for an additional three years to June 30, 2021, with the same terms and conditions. (ii) On June 25, 2017, the Comnet Telecom division entered into an amendment to its lease for approximately 15,000 square feet in two suites located in East Brunswick, New Jersey. Comnet’s current monthly rent expense under the leases is $8,542 per month for these facilities. The amended lease expires in September 2022. (iii) On July 25, 2017, the Rel-Tech Electronic division entered into a lease for approximately 13,750 square feet located in Milford, Connecticut. Rel-Tech’s current net monthly rent expense under the lease is $8,707 per month for these facilities. The new lease expires in August 2019. The aggregate monthly rental for all of the Company’s facilities currently is approximately $53,000 per month, plus utilities, maintenance and insurance.

Cash dividend and declared divi

Cash dividend and declared dividends	9 Months Ended
	Jul. 31, 2018
Cash Dividend And Dividends Declaration [Abstract]
Cash dividend and declared dividends	Note 13 - Cash dividend and declared dividends The Company paid dividends of $0.02 per share during the three months ended July 31, 2018 and 2017 for a total of $185,000 and $177,000, respectively. The Company paid dividends of $0.06 per share during the nine months ended July 31, 2018 and 2017 for a total of $544,000 and $530,000, respectively.

Subsequent events

Subsequent events	9 Months Ended
	Jul. 31, 2018
Subsequent Events [Abstract]
Subsequent events	Note 14 - Subsequent events On September 5, 2018 , the Board of Directors of the Company declared a quarterly cash dividend of $ 0.02 per share to be paid on October 15, 2018 to stockholders of record on September 30, 2018 .

Inventories and major vendors (

Inventories and major vendors (Tables)	9 Months Ended
	Jul. 31, 2018
Inventory Disclosure [Abstract]
Components of Inventories	Inventories consist of the following (in thousands): July 31, 2018 October 31, 2017 Raw materials and supplies $ 2,867 $ 2,520 Work in process 389 194 Finished goods 3,598 3,395 Totals $ 6,854 $ 6,109

Other current assets (Tables)

Other current assets (Tables)	9 Months Ended
	Jul. 31, 2018
Other current assets [Abstract]
Schedule of other current assets	Other current assets consist of the following (in thousands): July 31, 2018 October 31, 2017 Prepaid taxes $ 246 $ 20 Prepaid expense 357 526 Notes receivable, current portion 41 83 Other 210 115 Totals $ 854 $ 744

Accrued expenses and other lo22

Accrued expenses and other long-term liabilities (Tables)	9 Months Ended
	Jul. 31, 2018
Payables and Accruals [Abstract]
Accrued expenses	Accrued expenses consist of the following (in thousands): July 31, 2018 October 31, 2017 Wages payable $ 2,052 $ 855 Accrued receipts 800 695 Earn-out liability 210 236 Other current liabilities 428 456 Totals $ 3,490 $ 2,242
Schedule of Fair Value, Assets and Liabilities	The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of July 31, 2018 (in thousands): Description Level 1 Level 2 Level 3 Earn-out liability $ - $ - $ 210 The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of October 31, 2017 (in thousands): Description Level 1 Level 2 Level 3 Earn-out liability $ - $ - $ 236
Fair Value, Liabilities Measured on Recurring Basis	The following table summarizes the Level 3 transactions for the three months ended July 31, 2018, April 30, 2018, January 31, 2018 and for the year ended October 31, 2017 (in thousands): Level 3 July 31, 2018 April 30, 2018 January 31, 2018 October 31, 2017 Beginning balance $ 220 $ 206 $ 236 $ 835 Payments - - - (578 ) Change in value (10 ) 14 (30 ) (21 ) Ending Balance $ 210 $ 220 $ 206 $ 236

Earnings per share (Tables)

Earnings per share (Tables)	9 Months Ended
	Jul. 31, 2018
Earnings Per Share [Abstract]
Computation of Basic and Diluted Weighted Average Shares Outstanding	The following table summarizes the computation of basic and diluted weighted average shares outstanding: Three Months Ended July 31, Nine Months Ended July 31, 2018 2017 2018 2017 Weighted average shares outstanding for basic earnings per share 9,202,095 8,838,027 9,045,340 8,835,852 Add effects of potentially dilutive securities-assumed exercise of stock options 527,513 77,767 397,272 50,543 Weighted average shares outstanding for diluted earnings per share 9,729,608 8,915,794 9,442,612 8,886,395

Stock-based compensation and 24

Stock-based compensation and equity transactions (Tables)	9 Months Ended
	Jul. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Computation of Weighted Average Fair Value of Employee Stock Options using Black-Scholes Option Pricing Model Assumptions	Black-Scholes option pricing model with the following assumptions: Nine Months Ended July 31, 2018 2017 Risk-free interest rate 1.87 % 1.20 % Dividend yield 3.28 % 5.00 % Expected life of the option 4.54 years 4.31 years Volatility factor 46.83 % 43.30 %
Summary of Status of Options Granted under Stock Option Plans and Changes in Options Outstanding	A summary of the status of the options granted under the Company’s stock option plans as of July 31, 2018 and the changes in options outstanding during the nine months then ended is presented in the table that follows: Weighted Average Shares Exercise Price Outstanding at November 1, 2017 1,159,771 $ 3.20 Options granted 269,635 $ 2.44 Options exercised (396,087 ) $ 2.57 Options canceled or expired (63,718 ) $ 4.88 Options outstanding at July 31, 2018 969,601 $ 3.11 Options exercisable at July 31, 2018 654,863 $ 3.09 Options vested and expected to vest at July 31, 2018 967,379 $ 3.11

Segment information (Tables)

Segment information (Tables)	9 Months Ended
	Jul. 31, 2018
Segment Reporting [Abstract]
Sales by Geographic Area	The following table presents the sales of the Company by geographic area for the three and nine months ended July 31, 2018 and 2017 (in thousands): Three Months Ended July 31, Nine Months Ended July 31, 2018 2017 2018 2017 United States $ 13,682 $ 7,603 $ 46,069 $ 21,557 Foreign Countries: Canada 142 180 419 356 Mexico - - 40 77 All Other 26 25 43 75 168 205 502 508 Totals $ 13,850 $ 7,808 $ 46,571 $ 22,065
Net Sales, Income (Loss) Before Provision for Income Taxes and Other Related Segment Information	Net sales, income from continuing operations before provision for income taxes and other related segment information for the three months ended July 31, 2018 and 2017 are as follows (in thousands): RF Connector Custom Cabling and Manufacturing and Cable Assembly Assembly Corporate Total 2018 Net sales $ 3,139 $ 10,711 $ - $ 13,850 Income from continuing operations before provision for income taxes 310 1,833 13 2,156 Depreciation and amortization 42 170 - 212 2017 Net sales $ 2,964 $ 4,844 $ - $ 7,808 Income from continuing operations before provision for income taxes 153 31 5 189 Depreciation and amortization 43 172 - 215 Net sales, income (loss) from continuing operations before provision (benefit) for income taxes and other related segment information for the nine months ended July 31, 2018 and 2017 are as follows (in thousands): RF Connector Custom Cabling and Manufacturing and Cable Assembly Assembly Corporate Total 2018 Net sales $ 8,503 $ 38,068 $ - $ 46,571 Income (loss) from continuing operations before provision (benefit) for income taxes (34 ) 6,747 20 6,733 Depreciation and amortization 129 505 - 634 2017 Net sales $ 8,106 $ 13,959 $ - $ 22,065 Income (loss) from continuing operations before provision (benefit) for income taxes 236 (345 ) 23 (86 ) Depreciation and amortization 131 518 - 649

Intangible assets (Tables)

Intangible assets (Tables)	9 Months Ended
	Jul. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets	Intangible assets consist of the following (in thousands): July 31, 2018 October 31, 2017 Amortizable intangible assets: Customer relationships (estimated lives 7 - 15 years) $ 5,099 $ 5,099 Accumulated amortization (2,594 ) (2,186 ) 2,505 2,913 Patents (estimated life 14 years) 142 142 Accumulated amortization (32 ) (25 ) 110 117 Totals $ 2,615 $ 3,030 Non-amortizable intangible assets: Trademarks $ 1,237 $ 1,237

Unaudited interim condensed c27

Unaudited interim condensed consolidated financial statements - Additional Information (Detail) - Accounting Standards Update No. 2016-09, Compensation – Stock Compensation [Member]	9 Months Ended
	Jul. 31, 2018USD ($)
Recently Issued Accounting Pronouncements Adopted, Income Tax Benefit Recognized	$ 163,000
Recently Issued Accounting Pronouncements Adopted, Reduction of Effective Tax Rate	2.40%

Discontinued operations - Addit

Discontinued operations - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	$ 0	$ 21,000	$ 0	$ 109,000
Radio Mobile, Inc [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Royalty revenue	0	34,000	0	162,000
Bioconnect division [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	$ 0	$ 0	$ 0	$ 10,000

Inventories and major vendors -

Inventories and major vendors - Components of Inventories (Detail) - USD ($) $ in Thousands	Jul. 31, 2018	Oct. 31, 2017
Inventory [Line Items]
Raw materials and supplies	$ 2,867	$ 2,520
Work in process	389	194
Finished goods	3,598	3,395
Totals	$ 6,854	$ 6,109

Inventories and major vendors30

Inventories and major vendors - Additional Information (Detail) - Supplier Concentration Risk [Member]	3 Months Ended		9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Inventory [Line Items]
Purchases of connector products, percentage		11.00%		0.00%
Vendor One
Inventory [Line Items]
Purchases of connector products, percentage	46.00%		41.00%

Other current assets (Detail)

Other current assets (Detail) - USD ($) $ in Thousands	Jul. 31, 2018	Oct. 31, 2017
Prepaid taxes	$ 246	$ 20
Prepaid expense	357	526
Notes receivable, current portion	41	83
Other	210	115
Totals	$ 854	$ 744

Other current assets - Addition

Other current assets - Additional Information (Detail) - USD ($)	Jul. 31, 2018	Oct. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Long-term portion of notes receivable	$ 0	$ 21,000

Accrued expenses and other lo33

Accrued expenses and other long-term liabilities (Detail) - USD ($) $ in Thousands	Jul. 31, 2018	Oct. 31, 2017
Schedule Of Accrued Liabilities [Line Items]
Wages payable	$ 2,052	$ 855
Accrued receipts	800	695
Earn-out liability	210	236
Other current liabilities	428	456
Totals	$ 3,490	$ 2,242

Accrued expenses and other lo34

Accrued expenses and other long-term liabilities (Detail 1) - USD ($) $ in Thousands	Jul. 31, 2018	Oct. 31, 2017
Level 1
Earn-out liability	$ 0	$ 0
Level 2
Earn-out liability	0	0
Level 3
Earn-out liability	$ 210	$ 236

Accrued expenses and other lo35

Accrued expenses and other long-term liabilities (Detail 2) - Level 3 - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2017
Beginning balance	$ 220	$ 206	$ 236	$ 835
Payments	0	0	0	(578)
Change in value	(10)	14	(30)	(21)
Ending Balance	$ 210	$ 220	$ 206	$ 236

Accrued expenses and other lo36

Accrued expenses and other long-term liabilities - Additional Information (Detail)	Aug. 31, 2018USD ($)
Reltech Electronics Inc [Member] | Subsequent Event [Member]
Earn Out Liability Paid	$ 210,000

Earnings per share - Computatio

Earnings per share - Computation of Basic and Diluted Weighted Average Shares Outstanding (Detail) - shares	3 Months Ended		9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Earnings Per Share [Line Items]
Weighted average shares outstanding for basic earnings per share	9,202,095	8,838,027	9,045,340	8,835,852
Add effects of potentially dilutive securities-assumed exercise of stock options	527,513	77,767	397,272	50,543
Weighted average shares outstanding for diluted earnings per share	9,729,608	8,915,794	9,442,612	8,886,395

Earnings per share - Additional

Earnings per share - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	812,244	245,328	1,104,837

Stock-based compensation and 39

Stock-based compensation and equity transactions - Summary of fair value of employee and non-employee directors' stock options (Detail)	9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Risk-free interest rate	1.87%	1.20%
Dividend yield	3.28%	5.00%
Expected life of the option	4 years 6 months 14 days	4 years 3 months 22 days
Volatility factor	46.83%	43.30%

Stock-based compensation and 40

Stock-based compensation and equity transactions - Summary of status of options granted under stock option plans and changes in options outstanding (Detail) - Stock Option	9 Months Ended
	Jul. 31, 2018$ / sharesshares
Shares
Outstanding at November 1, 2017 | shares	1,159,771
Options granted | shares	269,635
Options exercised | shares	(396,087)
Options canceled or expired | shares	(63,718)
Options outstanding at July 31, 2018 | shares	969,601
Options exercisable at July 31, 2018 | shares	654,863
Options vested and expected to vest at July 31, 2018 | shares	967,379
Weighted Average Exercise Price
Outstanding at November 1, 2017 | $ / shares	$ 3.20
Options granted | $ / shares	2.44
Options exercised | $ / shares	2.57
Options canceled or expired | $ / shares	4.88
Options outstanding at July 31, 2018 | $ / shares	3.11
Options exercisable at July 31, 2018 | $ / shares	3.09
Options vested and expected to vest at July 31, 2018 | $ / shares	$ 3.11

Stock-based compensation and 41

Stock-based compensation and equity transactions - Additional Information (Detail) - USD ($)	1 Months Ended		3 Months Ended			9 Months Ended
	Dec. 13, 2017	Jul. 17, 2017	Jul. 31, 2018	Jan. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining life of options outstanding						4 years 8 months 1 day
Weighted average remaining contractual life of options exercisable						3 years 3 months 29 days
Weighted average life of options vested and expected to vest						4 years 7 months 24 days
Aggregate intrinsic value of options outstanding			$ 6,612,000			$ 6,612,000
Aggregate intrinsic value of options exercisable			4,461,000			4,461,000
Aggregate intrinsic value of options vested and expected to vest			6,583,000			6,583,000
Non-vested stock-based arrangements yet to be recognized			305,000			$ 305,000
Stock based arrangements yet to be recognized, weighted average period expected to be recognized						6 years 7 days
Non-employee director annual grant				$ 50,000
Fair value of stock option per share				$ 0.659
Stock based compensation expense			$ 57,000		$ 62,000	$ 189,000	$ 161,000
Share-based Goods and Nonemployee Services Transaction, Quantity of Securities Issued				37,927
Share Based Goods And Non Employee Services Transaction Value Of Stock Option Issued				$ 25,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term		9 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period				5 years
Incentive stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, options, grants in period, gross	80,000	100,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares	8,000	10,000
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Period	10 years	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number	80,000	72,000
Employee And Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of stock option per share			$ 2.44		$ 1.60	$ 2.44	$ 1.60
Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense						$ 0	$ 9,000
Selling, General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense						$ 189,000	$ 152,000

Concentrations of credit risk -

Concentrations of credit risk - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Concentration Risk [Line Items]
Cash, FDIC insured amount	$ 10.5		$ 10.5
Sales Revenue, Goods, Net
Concentration Risk [Line Items]
Concentration risk, percentage	51.00%		56.00%
Sales Revenue, Goods, Net | Customer One [Member]
Concentration Risk [Line Items]
Concentration risk, percentage		22.00%		18.00%
Sales Revenue, Goods, Net | Customer Two [Member]
Concentration Risk [Line Items]
Concentration risk, percentage		11.00%		13.00%
Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	53.00%		53.00%
Accounts Receivable | Customer One [Member]
Concentration Risk [Line Items]
Concentration risk, percentage		26.00%		26.00%
Accounts Receivable | Customer Two [Member]
Concentration Risk [Line Items]
Concentration risk, percentage		10.00%		10.00%

Sales by geographic area (Detai

Sales by geographic area (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Revenue, Major Customer [Line Items]
Sales revenue	$ 13,850	$ 7,808	$ 46,571	$ 22,065
United States
Revenue, Major Customer [Line Items]
Sales revenue	13,682	7,603	46,069	21,557
Canada
Revenue, Major Customer [Line Items]
Sales revenue	142	180	419	356
Mexico
Revenue, Major Customer [Line Items]
Sales revenue	0	0	40	77
All other
Revenue, Major Customer [Line Items]
Sales revenue	26	25	43	75
Foreign countries, total
Revenue, Major Customer [Line Items]
Sales revenue	$ 168	$ 205	$ 502	$ 508

Net sales, income (loss) before

Net sales, income (loss) before provision for income taxes and other related segment information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Segment Reporting Information [Line Items]
Net sales	$ 13,850	$ 7,808	$ 46,571	$ 22,065
Income (loss) from continuing operations before provision (benefit) for income taxes	2,156	189	6,733	(86)
Depreciation and amortization	212	215	634	649
RF Connector and Cable Assembly
Segment Reporting Information [Line Items]
Net sales	3,139	2,964	8,503	8,106
Income (loss) from continuing operations before provision (benefit) for income taxes	310	153	(34)	236
Depreciation and amortization	42	43	129	131
Custom Cabling Manufacturing and Assembly
Segment Reporting Information [Line Items]
Net sales	10,711	4,844	38,068	13,959
Income (loss) from continuing operations before provision (benefit) for income taxes	1,833	31	6,747	(345)
Depreciation and amortization	170	172	505	518
Corporate
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Income (loss) from continuing operations before provision (benefit) for income taxes	13	5	20	23
Depreciation and amortization	$ 0	$ 0	$ 0	$ 0

Income taxes - Additional Infor

Income taxes - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Income Taxes [Line Items]
Provision for income tax as percentage of income (loss) before income taxes	20.00%	10.00%	20.00%	63.00%
Accrued interest and penalties related to uncertain tax positions	$ 0		$ 0			$ 0
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent						35.00%
Increase (Decrease) in Deferred Liabilities			41,000
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount			41,000
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Compensation Cost, Amount			$ 163,000
Scenario, Plan [Member]
Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent					21.00%

Intangible assets (Detail)

Intangible assets (Detail) - USD ($) $ in Thousands	Jul. 31, 2018	Oct. 31, 2017
Intangible Assets [Line Items]
Amortizable intangible assets, net	$ 2,615	$ 3,030
Non-amortizable intangible assets, Trademarks	1,237	1,237
Customer relationships (estimated lives 7 - 15 years)
Intangible Assets [Line Items]
Amortizable intangible assets, gross	5,099	5,099
Amortizable intangible assets, Accumulated amortization	(2,594)	(2,186)
Amortizable intangible assets, net	2,505	2,913
Patents (estimated life 14 years)
Intangible Assets [Line Items]
Amortizable intangible assets, gross	142	142
Amortizable intangible assets, Accumulated amortization	(32)	(25)
Amortizable intangible assets, net	$ 110	$ 117

Intangible assets (Parenthetica

Intangible assets (Parenthetical) (Detail)	9 Months Ended
	Jul. 31, 2018
Customer relationships (estimated lives 7 - 15 years) | Maximum [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	15 years
Customer relationships (estimated lives 7 - 15 years) | Minimum [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	7 years
Patents (estimated life 14 years)
Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	14 years

Intangible assets - Additional

Intangible assets - Additional Information (Detail) - USD ($)	9 Months Ended	12 Months Ended
	Jul. 31, 2018	Oct. 31, 2017
Intangible Assets [Line Items]
Amortization expense	$ 415,000	$ 589,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	9 years 5 months 23 days

Commitments - Additional Inform

Commitments - Additional Information (Detail)	Jun. 06, 2018	Jul. 31, 2018USD ($)	Jul. 25, 2017USD ($)a	Jun. 25, 2017USD ($)a	Jun. 09, 2017USD ($)ft²	Jun. 05, 2017USD ($)a
Commitments And Contingencies [Line Items]
Operating Leases, Rent Expense, Minimum Rentals		$ 53,000
Fifth Amendment [Member]
Commitments And Contingencies [Line Items]
Area of Land | a						21,908
East Brunswick [Member] | Commitments [Member]
Commitments And Contingencies [Line Items]
Lease Expiration Date				Sep. 30, 2022
Area of Land | a				15,000
Operating Leases, Rent Expense				$ 8,542
Milford [Member] | Commitments [Member]
Commitments And Contingencies [Line Items]
Lease Expiration Date			Aug. 31, 2019
Area of Land | a			13,750
Operating Leases, Rent Expense			$ 8,707
San Diego, California [Member]
Commitments And Contingencies [Line Items]
Lease Expiration Date						Jul. 31, 2022
Operating Leases, Rent Expense						$ 22,721
New York [Member] | Commitments [Member]
Commitments And Contingencies [Line Items]
Lease Expiration Date	Jun. 30, 2021				Jun. 30, 2018
Area of Land | ft²					12,000
Operating Leases, Rent Expense					$ 13,000

Cash dividend and declared di50

Cash dividend and declared dividends - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Dividends Payable [Line Items]
Dividends paid, per share	$ 0.02	$ 0.02	$ 0.06	$ 0.06
Dividends paid	$ 185	$ 177	$ 544	$ 530

Subsequent events - Additional

Subsequent events - Additional Information (Detail) - Subsequent Event	Sep. 05, 2018$ / shares
Subsequent Event [Line Items]
Dividends Payable, Amount Per Share	$ 0.02
Dividends Payable, Date to be Paid	Oct. 15, 2018
Dividends payable, record date	Sep. 30, 2018