RF Industries (RFIL) 10-Q 12 Mar 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jan. 31, 2019	Mar. 07, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jan. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Registrant Name	R F INDUSTRIES LTD
Entity Central Index Key	0000740664
Current Fiscal Year End Date	--10-31
Entity Filer Category	Non-accelerated Filer
Trading Symbol	RFIL
Entity Common Stock, Shares Outstanding		9,356,935
Entity Emerging Growth Company	false
Entity Small Business	true

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jan. 31, 2019	Oct. 31, 2018
CURRENT ASSETS
Cash and cash equivalents	$ 14,016	$ 16,334
Trade accounts receivable, net of allowance for doubtful accounts of $50 and $88, respectively	5,633	4,255
Inventories	8,169	7,113
Other current assets	781	828
TOTAL CURRENT ASSETS	28,599	28,530
Property and equipment:
Equipment and tooling	3,261	3,210
Furniture and office equipment	844	822
Property, Plant and Equipment, Gross	4,105	4,032
Less accumulated depreciation	3,541	3,473
Total property and equipment	564	559
Goodwill	1,340	1,340
Amortizable intangible assets, net	1,298	1,367
Non-amortizable intangible assets	657	657
Other assets	49	49
TOTAL ASSETS	32,507	32,502
CURRENT LIABILITIES
Accounts payable	1,744	1,342
Accrued expenses	2,059	3,377
TOTAL CURRENT LIABILITIES	3,803	4,719
Deferred tax liabilities	11	0
TOTAL LIABILITIES	3,814	4,719
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock - authorized 20,000,000 shares of $0.01 par value; 9,356,935 and 9,291,201 shares issued and outstanding at January 31, 2019 and October 31, 2018, respectively	94	93
Additional paid-in capital	21,429	20,974
Retained earnings	7,170	6,716
TOTAL STOCKHOLDERS' EQUITY	28,693	27,783
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 32,507	$ 32,502

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jan. 31, 2019	Oct. 31, 2018
Trade accounts receivable, allowance for doubtful accounts	$ 50	$ 88
Common stock, authorized	20,000,000	20,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	9,356,935	9,291,201
Common stock, shares outstanding	9,356,935	9,291,201

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
Net sales	$ 10,647	$ 7,966
Cost of sales	7,502	5,503
Gross profit	3,145	2,463
Operating expenses:
Engineering	320	321
Selling and general	2,039	1,784
Total operating expenses	2,359	2,105
Operating income	786	358
Other income	22	2
Income from continuing operations before provision for income taxes	808	360
Provision for income taxes	168	56
Income from continuing operations	640	304
Income from discontinued operations, net of tax	0	150
Consolidated net income	$ 640	$ 454
Earnings per share
Continuing operations	$ 0.07	$ 0.03
Discontinued operations	0	0.02
Net income per share	0.07	0.05
Earnings per share
Continuing operations	0.07	0.03
Discontinued operations	0	0.02
Net income per share	$ 0.07	$ 0.05
Weighted average shares outstanding
Basic	9,309,454	8,880,384
Diluted	9,838,154	9,099,301

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings
Balance at Oct. 31, 2017	$ 21,343	$ 89	$ 19,654	$ 1,600
Balance (in shares) at Oct. 31, 2017		8,872,246
Exercise of stock options	157	$ 1	156	0
Exercise of stock options (in shares)		102,051
Stock-based compensation expense	75	$ 0	75	0
Dividends	(176)	0	0	(176)
Net Income	454	0	0	454
Balance at Jan. 31, 2018	21,853	$ 90	19,885	1,878
Balance (in shares) at Jan. 31, 2018		8,974,297
Balance at Oct. 31, 2018	27,783	$ 93	20,974	6,716
Balance (in shares) at Oct. 31, 2018		9,291,201
Exercise of stock options	342	$ 1	341	0
Exercise of stock options (in shares)		65,734
Stock-based compensation expense	114	$ 0	114	0
Dividends	(186)	0	0	(186)
Net Income	640	0	0	640
Balance at Jan. 31, 2019	$ 28,693	$ 94	$ 21,429	$ 7,170
Balance (in shares) at Jan. 31, 2019		9,356,935

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
OPERATING ACTIVITIES:
Consolidated net income	$ 640	$ 454
Income from discontinued operations	0	150
Income from continuing operations	640	304
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Bad debt expense	5	(4)
Depreciation and amortization	137	127
Stock-based compensation expense	114	75
Deferred income taxes	11	(15)
Changes in operating assets and liabilities:
Trade accounts receivable	(1,383)	(1,070)
Inventories	(1,056)	(752)
Other current assets	47	(182)
Other long-term assets	0	21
Accounts payable	402	638
Accrued expenses	(1,318)	589
Income tax receivable	0	49
Net cash used in operating activities from continuing operations	(2,401)	(220)
Net cash provided by operating activities from discontinued operations	0	69
INVESTING ACTIVITIES:
Proceeds from landlord for tenant improvements	0	34
Capital expenditures	(73)	(22)
Net cash provided by (used in) investing activities from continuing operations	(73)	12
Net cash used in investing activities from discontinued operations	0	(1)
FINANCING ACTIVITIES:
Proceeds from exercise of stock options	342	157
Dividends paid	(186)	(176)
Net cash provided by (used in) financing activities	156	(19)
Net decrease in cash and cash equivalents	(2,318)	(159)
Cash and cash equivalents of continuing operations, beginning of period	16,334	6,039
Cash and cash equivalents, end of period	14,016	5,880
Less: cash and cash equivalents of discontinued operations	0	930
Cash and cash equivalents of continuing operations at end of period	14,016	4,950
Supplemental cash flow information – income taxes paid	$ 0	$ 3

Unaudited interim condensed con

Unaudited interim condensed consolidated financial statements	3 Months Ended
	Jan. 31, 2019
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 two 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, 2018 has been derived from, and certain terms used herein are defined in, the audited consolidated financial statements of the Company as of October 31, 2018 included in the Company’s Annual Report on Form 10-K (“Form 10-K”) for the year ended October 31, 2018 that was previously filed with the Securities and Exchange Commission (“SEC”). Operating results for the three months ended January 31, 2019 are not necessarily indicative of the results that may be expected for the year ending October 31, 2019. 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, 2018. Principles of consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of RF Industries, Ltd. and its two wholly-owned subsidiaries, Cables Unlimited, Inc. (“Cables Unlimited”) and Rel-Tech Electronics, Inc. (“Rel-Tech”). All intercompany balances and transactions have been eliminated in consolidation. Reclassifications Certain amounts in the prior period condensed consolidated financial statements and notes have been reclassified to conform to the current period presentation of continuing operations and discontinued operations (see Note 2). These reclassifications had no effect on reported consolidated net income. Revenue recognition On November 1, 2018, the Company adopted ASU No. 2014-09, Revenue from Contacts with Customers (Topic 606) (“ASC 606”) applying the modified retrospective method. The core principle of ASC 606 is that revenue should be recorded in an amount that reflects the consideration to which we expect to be entitled in exchange for goods or services promised to customers. Under ASC 606, the Company follows a five-step model to: (1) identify the contract with our customer; (2) identify our performance obligations in our contract; (3) determine the transaction price for our contract; (4) allocate the transaction price to our performance obligations; and (5) recognize revenue when (or as) each performance obligation is satisfied. In accordance with this accounting principle, the Company recognizes revenue using the output method at a point in time when finished goods have been transferred to the customer and there are no other obligations to customers after the title of the goods have transferred. Title of goods are transferred based on shipping terms for each customer – for shipments with terms of FOB Shipping Point, title is transferred upon shipment; for shipments with terms of FOB Destination, title is transferred upon delivery. 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 January 2017, the FASB issued ASU 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 May 2014, the FASB issued . This guidance superseded Topic 605, Revenue Recognition, in addition to other industry-specific guidance. 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.

Discontinued operations

Discontinued operations	3 Months Ended
	Jan. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Discontinued operations	Note 2 - Discontinued operations On October 31, 2018, the Company sold all of the assets and liabilities of its subsidiary, Comnet Telecom Supply (“Comnet”), to RAP Acquisition Inc., a New Jersey corporation. Comnet was a New Jersey-based manufacturer and supplier of telecommunications and data products, including fiber optic cables, cabling technologies, custom patch cord assemblies, data center consoles, and other data center equipment. This division was one of the three subsidiaries in the Company’s Custom Cabling Manufacturing Assembly segment. For the three months ended January 31, 2018, the Company recognized pretax income of $196,000 from the discontinued operations of Comnet, and an income tax expense of $46,000. The major line items constituting the income from discontinued operations of Comnet for the three months ended January 31, 2018 are as follows (in thousands): January 31, 2018 Major line items constituting pretax income from discontinued operations: Net sales $ 2,374 Cost of sales (1,765 ) Gross profit 609 Selling, general and administrative expense (413 ) Pretax income from discontinued operations 196 Provision for income taxes 46 Income from discontinued operations $ 150

Inventories and major vendors

Inventories and major vendors	3 Months Ended
	Jan. 31, 2019
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 net realizable value. Cost has been determined using the weighted average cost method. Inventories consist of the following (in thousands): January 31, 2019 October 31, 2018 Raw materials and supplies $ 3,600 $ 2,711 Work in process 757 603 Finished goods 3,812 3,799 Totals $ 8,169 $ 7,113 Two vendors each accounted for 17% of inventory purchases for the three months ended January 31, 2019. For the three months ended January 31, 2018, one vendor accounted for 30% of inventory purchases. 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	3 Months Ended
	Jan. 31, 2019
Other current assets [Abstract]
Other current assets	Note 4 - Other current assets Other current assets consist of the following (in thousands): January 31, 2019 October 31, 2018 Prepaid taxes $ 180 $ 335 Prepaid expense 365 228 Notes receivable, current portion - 20 Other 236 245 Totals $ 781 $ 828

Accrued expenses

Accrued expenses	3 Months Ended
	Jan. 31, 2019
Payables and Accruals [Abstract]
Accrued expenses and other long-term liabilities	Note 5 - Accrued expenses Accrued expenses consist of the following (in thousands): January 31, 2019 October 31, 2018 Wages payable $ 756 $ 1,705 Accrued receipts 840 1,271 Other current liabilities 463 401 Totals $ 2,059 $ 3,377 Accrued receipts represent purchased inventory for which invoices have not been received.

Earnings per share

Earnings per share	3 Months Ended
	Jan. 31, 2019
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 issuable securities totaling 93,000 and 771,973 shares for the three months ended January 31, 2019 and 2018, 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 January 31, 2019 2018 Weighted average shares outstanding for basic earnings per share 9,309,454 8,880,384 Add effects of potentially dilutive securities-assumed exercise of stock options 528,700 218,917 Weighted average shares outstanding for diluted earnings per share 9,838,154 9,099,301

Stock-based compensation and eq

Stock-based compensation and equity transactions	3 Months Ended
	Jan. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation and equity transactions	Note 7 - Stock-based compensation and equity transactions 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 the date of grant. On December 3, 2018, the Company granted each of two employees 25,000 incentive stock options. These options vested 5,000 each on the date of grant, and the balance vests as to 5,000 shares each per year thereafter on each of the next four anniversaries of December 3, 2018, and expire five years from the date of grant. On December 3, 2018, the Company also granted one employee 10,000 incentive stock options. These options vested 2,000 shares on the date of grant, and the balance vests as to 2,000 shares per year thereafter on each of the next four anniversaries of December 3, 2018, and expire five years from the date of grant. No other options were granted to Company employees during the three months ended January 31, 2019 and 2018. The weighted average fair value of employee and non-employee directors’ stock options granted by the Company during the three months ended January 31, 2019 and 2018 was estimated to be $8.47 and $2.44, respectively, per share, using the Black-Scholes option pricing model with the following assumptions: Three Months Ended January 31, 2019 2018 Risk-free interest rate 2.98 % 1.87 % Dividend yield 0.94 % 3.28 % Expected life of the option 5.76 4.54 Volatility factor 55.64 % 46.83 % 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 2019 and 2018 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, 2018. A summary of the status of the options granted under the Company’s stock option plans as of January 31, 2019 and the changes in options outstanding during the three months then ended is presented in the table that follows: Weighted Average Shares Exercise Price Outstanding at November 1, 2018 942,366 $ 3.09 Options granted 93,000 $ 8.47 Options exercised (65,734 ) $ 5.20 Options canceled or expired (5,250 ) $ 6.82 Options outstanding at January 31, 2019 964,382 $ 3.44 Options exercisable at January 31, 2019 632,799 $ 2.92 Options vested and expected to vest at January 31, 2019 963,022 $ 3.45 Weighted average remaining contractual life of options outstanding as of January 31, 2019: 4.83 years Weighted average remaining contractual life of options exercisable as of January 31, 2019: 3.39 years Weighted average remaining contractual life of options vested and expected to vest as of January 31, 2019: 4.82 years Aggregate intrinsic value of options outstanding at January 31, 2019: $4,608,000 Aggregate intrinsic value of options exercisable at January 31, 2019: $3,333,000 Aggregate intrinsic value of options vested and expected to vest at January 31, 2019: $4,589,000 As of January 31, 2019, $532,000 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 5.63 years. Non-employee directors receive a compensation package of $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, 2019, the Company granted each of its five non-employee directors 6,600 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 ($3.471 per share). These options vest ratably over fiscal year 2019 and expire five years from the date of grant. Effective November 1, 2018, in addition to the compensation received for serving on the Board of Directors, the Chairman of each committee of the Board will receive $15,000 per year in cash for services rendered as Chairman. Stock option expense During the three months ended January 31, 2019 and 2018, stock-based compensation expense totaled $114,000 and $75,000, respectively, and was classified in selling and general expense.

Concentrations of credit risk

Concentrations of credit risk	3 Months Ended
	Jan. 31, 2019
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 January 31, 2019, the Company had cash and cash equivalent balances in excess of federally insured limits in the amount of approximately $11.8 million. Two customers, a distributor and an equipment manufacturer, accounted for approximately 38% and 14%, respectively, of the Company’s net sales for the three-month period ended January 31, 2019. At January 31, 2019, these two customers’ accounts receivable balances accounted for approximately 30% and 22%, respectively, of the total net accounts receivable balance. For the three-month period ended January 31, 2018, one customer, a distributor, accounted for approximately 47% of the Company’s net sales. At January 31, 2018, this customer’s accounts receivable balance accounted for approximately 44% of the Company’s total net accounts receivable balance. 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	3 Months Ended
	Jan. 31, 2019
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 January 31, 2019, the Company had two segments – RF Connector and Cable Assembly (“RF Connector segment”) and Custom Cabling Manufacturing and Assembly (“Custom Cabling segment”). The RF Connector segment consisted of one division and the Custom Cabling segment was composed of two divisions. The three divisions that met the quantitative thresholds for segment reporting are the RF Connector and Cable Assembly division (“RF Connector division”), Cables Unlimited, and Rel-Tech. While each segment had similar products and services, with one major exception, there was little overlapping of these services to their customer base. In addition, sales or product and services for the RF Connector segment were primarily through the distribution channel while the Custom Cabling segment sales were through a combination of distribution and direct to the end customer. 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 RF Connector division constitutes the RF Connector segment, and the Cables Unlimited and Rel-Tech divisions constitute the Custom Cabling 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 months ended January 31, 2019 and 2018 (in thousands): Three Months Ended January 31, 2019 2018 United States $ 10,470 $ 7,764 Foreign Countries: Canada 165 153 Mexico - 39 All Other 12 10 177 202 Totals $ 10,647 $ 7,966 Net sales, income from continuing operations before provision for income taxes and other related segment information for the three months ended January 31, 2019 and 2018 are as follows (in thousands): RF Connector Custom Cabling and Manufacturing and 2019 Cable Assembly Assembly Corporate Total Net sales $ 3,258 $ 7,389 $ - $ 10,647 Income from continuing operations before provision for income taxes 280 506 22 808 Depreciation and amortization 45 92 - 137 Total assets 6,635 11,026 14,846 32,507 2018 Net sales $ 2,630 $ 5,336 $ - $ 7,966 Income (loss) from continuing operations before provision for income taxes (157 ) 514 3 360 Depreciation and amortization 44 83 - 127 Total assets 6,074 8,264 12,513 26,851

Income taxes

Income taxes	3 Months Ended
	Jan. 31, 2019
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. In December 2017, the SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (SAB 118), which allowed us to record provisional amounts during a measurement period not to extend beyond one year of the enactment date. As a result, we previously recorded a provisional estimate of the effect of the Tax Act in our financial statements. In the first quarter of 2019, we completed our analysis to determine the effect of the Tax Act and recorded no additional adjustments as of December 22, 2018. 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 for income taxes was 21% and 16% of income before income taxes for the three months ended January 31, 2019 (the “fiscal 2019 quarter”) and 2018 (the “fiscal 2018 quarter”), respectively. The increase in the effective tax rate from the fiscal 2018 quarter to fiscal 2019 quarter was primarily driven by the elimination of the benefit from the domestic production activities deduction and the one-time benefit recorded in the prior year related to the reduction in the Company’s deferred tax liability due to the change in the federal tax rate, both as a result of the Tax Act. The Company recorded income from discontinued operations, net of tax, as disclosed in Note 2. The Company had $65,000 and $58,000 of unrecognized tax benefits, inclusive of interest and penalties, as of January 31, 2019 and October 31, 2018, respectively. The unrecognized tax benefits, if recognized, would result in a net tax benefit of $15,000 as of January 31, 2019.

Intangible assets

Intangible assets	3 Months Ended
	Jan. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets	Note 11 - Intangible assets Intangible assets consist of the following (in thousands): January 31, 2019 October 31, 2018 Amortizable intangible assets: Customer relationships (estimated lives 7 - 15 years) $ 2,879 $ 2,879 Accumulated amortization (1,686 ) (1,619 ) 1,193 1,260 Patents (estimated life 14 years) 142 142 Accumulated amortization (37 ) (35 ) 105 107 Totals $ 1,298 $ 1,367 Non-amortizable intangible assets: Trademarks $ 657 $ 657 Amortization expense for the three months ended January 31, 2019 and the year ended October 31, 2018 was $69,000 and $275,000, respectively. As of January 31, 2019, the weighted-average amortization period for the amortizable intangible assets is 10.98 years.

Commitments

Commitments	3 Months Ended
	Jan. 31, 2019
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 June 30, 2018. 13,000 (ii) On July 25, 2017, the Rel-Tech Electronic division entered into a lease for approximately 13,750 8,707 (iii) On November 1, 2018, the Cables Unlimited division entered into a lease agreement with 100 Bellport Avenue, LLC, as landlord, for approximately 7,500 $ 5,625 5,000 in a total rent expense of $ 9,375 For the three months ended January 31, 2019, the aggregate monthly rental for all of the Company’s facilities currently was approximately $50,000 per month, plus utilities, maintenance and insurance.

Cash dividend and declared divi

Cash dividend and declared dividends	3 Months Ended
	Jan. 31, 2019
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 January 31, 2019 and 2018 for a total of $186,000 and $176,000, respectively.

Subsequent events

Subsequent events	3 Months Ended
	Jan. 31, 2019
Subsequent Events [Abstract]
Subsequent events	Note 14 - Subsequent events On February 1, 2019, Cables Unlimited amended its lease with 100 Bellport Avenue, LLC to expand the leased space by an additional 5,000 square feet, resulting in a total rent expense of $9,375 per month. On March 8, 2019, the Board of Directors of the Company declared a quarterly cash dividend of $ 0.02 per share to be paid on April 15, 2019 to stockholders of record on March 31, 2019 . On March 11, 2019, the Company announced that it has entered into a binding agreement to purchase all of the assets of C Enterprises, L.P., a California based designer, manufacturer, and distributor of fiber and copper custom cables and cable assembles, and other related products used in the data center, networking, and wireless markets. The total cash outlay related to the purchase of C Enterprises is currently not expected to have a material impact on the Company’s liquidity and capital resources.

Discontinued operations (Tables

Discontinued operations (Tables)	3 Months Ended
	Jan. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Summary Constituting the income (loss) of Discontinued Operations	The major line items constituting the income from discontinued operations of Comnet for the three months ended January 31, 2018 are as follows (in thousands): January 31, 2018 Major line items constituting pretax income from discontinued operations: Net sales $ 2,374 Cost of sales (1,765 ) Gross profit 609 Selling, general and administrative expense (413 ) Pretax income from discontinued operations 196 Provision for income taxes 46 Income from discontinued operations $ 150

Inventories and major vendors (

Inventories and major vendors (Tables)	3 Months Ended
	Jan. 31, 2019
Inventory Disclosure [Abstract]
Components of Inventories	Inventories consist of the following (in thousands): January 31, 2019 October 31, 2018 Raw materials and supplies $ 3,600 $ 2,711 Work in process 757 603 Finished goods 3,812 3,799 Totals $ 8,169 $ 7,113

Other current assets (Tables)

Other current assets (Tables)	3 Months Ended
	Jan. 31, 2019
Other current assets [Abstract]
Schedule of other current assets	Other current assets consist of the following (in thousands): January 31, 2019 October 31, 2018 Prepaid taxes $ 180 $ 335 Prepaid expense 365 228 Notes receivable, current portion - 20 Other 236 245 Totals $ 781 $ 828

Accrued expenses (Tables)

Accrued expenses (Tables)	3 Months Ended
	Jan. 31, 2019
Payables and Accruals [Abstract]
Accrued expenses	Accrued expenses consist of the following (in thousands): January 31, 2019 October 31, 2018 Wages payable $ 756 $ 1,705 Accrued receipts 840 1,271 Other current liabilities 463 401 Totals $ 2,059 $ 3,377

Earnings per share (Tables)

Earnings per share (Tables)	3 Months Ended
	Jan. 31, 2019
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 January 31, 2019 2018 Weighted average shares outstanding for basic earnings per share 9,309,454 8,880,384 Add effects of potentially dilutive securities-assumed exercise of stock options 528,700 218,917 Weighted average shares outstanding for diluted earnings per share 9,838,154 9,099,301

Stock-based compensation and _2

Stock-based compensation and equity transactions (Tables)	3 Months Ended
	Jan. 31, 2019
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: Three Months Ended January 31, 2019 2018 Risk-free interest rate 2.98 % 1.87 % Dividend yield 0.94 % 3.28 % Expected life of the option 5.76 4.54 Volatility factor 55.64 % 46.83 %
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 January 31, 2019 and the changes in options outstanding during the three months then ended is presented in the table that follows: Weighted Average Shares Exercise Price Outstanding at November 1, 2018 942,366 $ 3.09 Options granted 93,000 $ 8.47 Options exercised (65,734 ) $ 5.20 Options canceled or expired (5,250 ) $ 6.82 Options outstanding at January 31, 2019 964,382 $ 3.44 Options exercisable at January 31, 2019 632,799 $ 2.92 Options vested and expected to vest at January 31, 2019 963,022 $ 3.45

Segment information (Tables)

Segment information (Tables)	3 Months Ended
	Jan. 31, 2019
Segment Reporting [Abstract]
Sales by Geographic Area	The following table presents the sales of the Company by geographic area for the three months ended January 31, 2019 and 2018 (in thousands): Three Months Ended January 31, 2019 2018 United States $ 10,470 $ 7,764 Foreign Countries: Canada 165 153 Mexico - 39 All Other 12 10 177 202 Totals $ 10,647 $ 7,966
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 January 31, 2019 and 2018 are as follows (in thousands): RF Connector Custom Cabling and Manufacturing and 2019 Cable Assembly Assembly Corporate Total Net sales $ 3,258 $ 7,389 $ - $ 10,647 Income from continuing operations before provision for income taxes 280 506 22 808 Depreciation and amortization 45 92 - 137 Total assets 6,635 11,026 14,846 32,507 2018 Net sales $ 2,630 $ 5,336 $ - $ 7,966 Income (loss) from continuing operations before provision for income taxes (157 ) 514 3 360 Depreciation and amortization 44 83 - 127 Total assets 6,074 8,264 12,513 26,851

Intangible assets (Tables)

Intangible assets (Tables)	3 Months Ended
	Jan. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets	Intangible assets consist of the following (in thousands): January 31, 2019 October 31, 2018 Amortizable intangible assets: Customer relationships (estimated lives 7 - 15 years) $ 2,879 $ 2,879 Accumulated amortization (1,686 ) (1,619 ) 1,193 1,260 Patents (estimated life 14 years) 142 142 Accumulated amortization (37 ) (35 ) 105 107 Totals $ 1,298 $ 1,367 Non-amortizable intangible assets: Trademarks $ 657 $ 657

Continuing operations and repor

Continuing operations and reported as discontinued operations (Details) - Comnet Telecom Division [Member] $ in Thousands	3 Months Ended
	Jan. 31, 2018USD ($)
Major line items constituting pretax income from discontinued operations:
Net sales	$ 2,374
Cost of sales	(1,765)
Gross profit	609
Selling, general and administrative expense	(413)
Pretax income from discontinued operations	196
Provision for income taxes	46
Income from discontinued operations	$ 150

Discontinued operations - Addit

Discontinued operations - Additional Information (Detail) - Comnet Telecom Division [Member] $ in Thousands	3 Months Ended
	Jan. 31, 2018USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operation, Tax Effect of Discontinued Operation	$ 46
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax	$ 196

Inventories and major vendors -

Inventories and major vendors - Components of Inventories (Detail) - USD ($) $ in Thousands	Jan. 31, 2019	Oct. 31, 2018
Inventory [Line Items]
Raw materials and supplies	$ 3,600	$ 2,711
Work in process	757	603
Finished goods	3,812	3,799
Totals	$ 8,169	$ 7,113

Inventories and major vendors_2

Inventories and major vendors - Additional Information (Detail)	3 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
Vendor One
Inventory [Line Items]
Concentration Risk, Percentage		30.00%
Two Vendors [Member]
Inventory [Line Items]
Concentration Risk, Percentage	17.00%

Other current assets (Detail)

Other current assets (Detail) - USD ($) $ in Thousands	Jan. 31, 2019	Oct. 31, 2018
Prepaid taxes	$ 180	$ 335
Prepaid expense	365	228
Notes receivable, current portion	0	20
Other	236	245
Totals	$ 781	$ 828

Accrued expenses (Detail)

Accrued expenses (Detail) - USD ($) $ in Thousands	Jan. 31, 2019	Oct. 31, 2018
Schedule Of Accrued Liabilities [Line Items]
Wages payable	$ 756	$ 1,705
Accrued receipts	840	1,271
Other current liabilities	463	401
Totals	$ 2,059	$ 3,377

Earnings per share - Computatio

Earnings per share - Computation of Basic and Diluted Weighted Average Shares Outstanding (Detail) - shares	3 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
Earnings Per Share [Line Items]
Weighted average shares outstanding for basic earnings per share	9,309,454	8,880,384
Add effects of potentially dilutive securities-assumed exercise of stock options	528,700	218,917
Weighted average shares outstanding for diluted earnings per share	9,838,154	9,099,301

Earnings per share - Additional

Earnings per share - Additional Information (Detail) - shares	3 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	93,000	771,973

Stock-based compensation and _3

Stock-based compensation and equity transactions - Summary of fair value of employee and non-employee directors' stock options (Detail)	3 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Risk-free interest rate	2.98%	1.87%
Dividend yield	0.94%	3.28%
Expected life of the option	5 years 9 months 4 days	4 years 6 months 14 days
Volatility factor	55.64%	46.83%

Stock-based compensation and _4

Stock-based compensation and equity transactions - Summary of status of options granted under stock option plans and changes in options outstanding (Detail) - Stock Option	3 Months Ended
	Jan. 31, 2019$ / sharesshares
Shares
Outstanding at November 1, 2018 | shares	942,366
Options granted | shares	93,000
Options exercised | shares	(65,734)
Options canceled or expired | shares	(5,250)
Options outstanding at January 31, 2019 | shares	964,382
Options exercisable at January 31, 2019 | shares	632,799
Options vested and expected to vest at January 31, 2019 | shares	963,022
Weighted Average Exercise Price
Outstanding at November 1, 2018 | $ / shares	$ 3.09
Options granted | $ / shares	8.47
Options exercised | $ / shares	5.20
Options canceled or expired | $ / shares	6.82
Options outstanding at January 31, 2019 | $ / shares	3.44
Options exercisable at January 31, 2019 | $ / shares	2.92
Options vested and expected to vest at January 31, 2019 | $ / shares	$ 3.45

Stock-based compensation and _5

Stock-based compensation and equity transactions - Additional Information (Detail) - USD ($)	Dec. 03, 2018	Dec. 13, 2017	Jan. 31, 2019	Jan. 31, 2018	Nov. 01, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining life of options outstanding			4 years 9 months 29 days
Weighted average remaining contractual life of options exercisable			3 years 4 months 20 days
Weighted average life of options vested and expected to vest			4 years 9 months 25 days
Aggregate intrinsic value of options outstanding			$ 4,608,000
Aggregate intrinsic value of options exercisable			3,333,000
Aggregate intrinsic value of options vested and expected to vest			4,589,000
Non-vested stock-based arrangements yet to be recognized			$ 532,000
Stock based arrangements yet to be recognized, weighted average period expected to be recognized			5 years 7 months 17 days
Non-employee director annual grant			$ 50,000
Fair value of stock option per share			$ 3.471
Stock based compensation expense			$ 114,000	$ 75,000
Share-based Goods and Nonemployee Services Transaction, Quantity of Securities Issued			6,600
Share Based Goods And Non Employee Services Transaction Value Of Stock Option Issued			$ 25,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			5 years
Board of Directors Chairman [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount Payable Annually for Services Rendered					$ 15,000
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
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares		8,000
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Period		10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number		8,000
Incentive stock options | One Employee [Member]
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	10,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares	2,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number	2,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	5 years
Incentive stock options | Two Employees [Member]
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	25,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares	5,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number	5,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	5 years
Employee And Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of stock option per share			$ 8.47	$ 2.44

Concentrations of credit risk -

Concentrations of credit risk - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
Concentration Risk [Line Items]
Cash, FDIC insured amount	$ 11.8
Sales Revenue, Goods, Net | Distributor [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	38.00%	47.00%
Sales Revenue, Goods, Net | Equipment Manufacturer [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	14.00%
Accounts Receivable | Distributor [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	30.00%	44.00%
Accounts Receivable | Equipment Manufacturer [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	22.00%

Sales by geographic area (Detai

Sales by geographic area (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
Revenue, Major Customer [Line Items]
Sales revenue	$ 10,647	$ 7,966
United States
Revenue, Major Customer [Line Items]
Sales revenue	10,470	7,764
Canada
Revenue, Major Customer [Line Items]
Sales revenue	165	153
Mexico
Revenue, Major Customer [Line Items]
Sales revenue	0	39
All other
Revenue, Major Customer [Line Items]
Sales revenue	12	10
Foreign countries, total
Revenue, Major Customer [Line Items]
Sales revenue	$ 177	$ 202

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
	Jan. 31, 2019	Jan. 31, 2018	Oct. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 10,647	$ 7,966
Income (loss) from continuing operations before provision for income taxes	808	360
Depreciation and amortization	137	127
Total assets	32,507	26,851	$ 32,502
RF Connector and Cable Assembly
Segment Reporting Information [Line Items]
Net sales	3,258	2,630
Income (loss) from continuing operations before provision for income taxes	280	(157)
Depreciation and amortization	45	44
Total assets	6,635	6,074
Custom Cabling Manufacturing and Assembly
Segment Reporting Information [Line Items]
Net sales	7,389	5,336
Income (loss) from continuing operations before provision for income taxes	506	514
Depreciation and amortization	92	83
Total assets	11,026	8,264
Corporate
Segment Reporting Information [Line Items]
Net sales	0	0
Income (loss) from continuing operations before provision for income taxes	22	3
Depreciation and amortization	0	0
Total assets	$ 14,846	$ 12,513

Income taxes - Additional Infor

Income taxes - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Oct. 31, 2018	Oct. 31, 2017
Income Taxes [Line Items]
Provision for income tax as percentage of income (loss) before income taxes	21.00%	16.00%
Unrecognized tax benefits	$ 65,000		$ 58,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%	35.00%
Income Tax Expense (Benefit)	$ 168,000	$ 56,000

Intangible assets (Detail)

Intangible assets (Detail) - USD ($) $ in Thousands	Jan. 31, 2019	Oct. 31, 2018
Intangible Assets [Line Items]
Amortizable intangible assets, net	$ 1,298	$ 1,367
Non-amortizable intangible assets, Trademarks	657	657
Customer relationships (estimated lives 7 - 15 years)
Intangible Assets [Line Items]
Amortizable intangible assets, gross	2,879	2,879
Amortizable intangible assets, Accumulated amortization	(1,686)	(1,619)
Amortizable intangible assets, net	1,193	1,260
Patents (estimated life 14 years)
Intangible Assets [Line Items]
Amortizable intangible assets, gross	142	142
Amortizable intangible assets, Accumulated amortization	(37)	(35)
Amortizable intangible assets, net	$ 105	$ 107

Intangible assets (Parenthetica

Intangible assets (Parenthetical) (Detail)	3 Months Ended
	Jan. 31, 2019
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 ($)	3 Months Ended	12 Months Ended
	Jan. 31, 2019	Oct. 31, 2018
Intangible Assets [Line Items]
Amortization expense	$ 69,000	$ 275,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years 11 months 23 days

Commitments - Additional Inform

Commitments - Additional Information (Detail)	Feb. 01, 2019USD ($)ft²	Nov. 02, 2018USD ($)ft²	Jul. 25, 2017USD ($)ft²	Jun. 09, 2017USD ($)ft²	Jun. 05, 2017USD ($)ft²	Jan. 31, 2019USD ($)
Commitments And Contingencies [Line Items]
Operating Leases, Rent Expense, Minimum Rentals						$ 50,000
San Diego, California [Member]
Commitments And Contingencies [Line Items]
Area of Land | ft²					21,908
Operating Leases, Rent Expense					$ 22,721
Lease Expiration Date					Jul. 31, 2022
Milford, Connecticut [Member] | Commitments [Member]
Commitments And Contingencies [Line Items]
Area of Land | ft²			13,750
Operating Leases, Rent Expense			$ 8,707
Lease Expiration Date			Aug. 31, 2019
NEW YORK | Commitments [Member] | K&K Unlimited [Member]
Commitments And Contingencies [Line Items]
Area of Land | ft²				12,000
Operating Leases, Rent Expense				$ 13,000
Lease Expiration Date				Jun. 30, 2018
Additional Lease Expiration Date				Jun. 30, 2021
NEW YORK | Commitments [Member] | 100 Bellport Avenue, LLC [Member]
Commitments And Contingencies [Line Items]
Area of Land | ft²		7,500
Operating Leases, Rent Expense		$ 5,625
Lease Expiration Date		Oct. 31, 2019
NEW YORK | Commitments [Member] | Subsequent Event [Member]
Commitments And Contingencies [Line Items]
Operating Leases, Rent Expense	$ 9,375
NEW YORK | Commitments [Member] | Amendment [Member] | Subsequent Event [Member]
Commitments And Contingencies [Line Items]
Area of Land | ft²	5,000
Operating Leases, Rent Expense	$ 3,750
Lease Expiration Date	Oct. 31, 2019

Cash dividend and declared di_2

Cash dividend and declared dividends - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
Dividends Payable [Line Items]
Dividends paid, per share	$ 0.02	$ 0.02
Dividends paid	$ 186	$ 176

Subsequent events - Additional

Subsequent events - Additional Information (Detail) - Subsequent Event	Mar. 08, 2019$ / shares	Feb. 01, 2019USD ($)ft²
Subsequent Event [Line Items]
Dividends Payable, Amount Per Share | $ / shares	$ 0.02
Dividends payable, record date	Mar. 31, 2019
NY [Member]
Subsequent Event [Line Items]
Area of Land | ft²		5,000
Operating Leases, Rent Expense | $		$ 9,375