Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Jan. 31, 2022 | Mar. 17, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000740664 | |
Entity Registrant Name | R F INDUSTRIES LTD | |
Amendment Flag | false | |
Current Fiscal Year End Date | --10-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jan. 31, 2022 | |
Document Transition Report | false | |
Entity File Number | 000-13301 | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 88-0168936 | |
Entity Address, Address Line One | 7610 Miramar Road, Building 6000 | |
Entity Address, City or Town | San Diego | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 92126 | |
City Area Code | 858 | |
Local Phone Number | 549-6340 | |
Title of 12(b) Security | Common Stock, $0.01 par value per share | |
Trading Symbol | RFIL | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 10,096,175 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jan. 31, 2022 | Oct. 31, 2021 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 13,507 | $ 13,053 |
Trade accounts receivable, net of allowance for doubtful accounts of $83 and $87, respectively | 10,514 | 13,523 |
Inventories | 13,477 | 11,179 |
Other current assets | 3,586 | 2,893 |
TOTAL CURRENT ASSETS | 41,084 | 40,648 |
Property and equipment: | ||
Equipment and tooling | 4,075 | 3,986 |
Furniture and office equipment | 1,101 | 1,086 |
Property, Plant and Equipment, Gross, Ending Balance | 5,176 | 5,072 |
Less accumulated depreciation | 4,449 | 4,364 |
Total property and equipment, net | 727 | 708 |
Operating lease right of use assets, net | 1,204 | 1,453 |
Goodwill | 2,467 | 2,467 |
Amortizable intangible assets, net | 2,644 | 2,739 |
Non-amortizable intangible assets | 1,174 | 1,174 |
Deferred tax assets | 366 | 389 |
Other assets | 70 | 70 |
TOTAL ASSETS | 49,736 | 49,648 |
CURRENT LIABILITIES | ||
Accounts payable | 3,382 | 3,504 |
Accrued expenses | 5,659 | 5,034 |
Current portion of operating lease liabilities | 698 | 832 |
TOTAL CURRENT LIABILITIES | 9,739 | 9,370 |
Operating lease liabilities | 545 | 675 |
TOTAL LIABILITIES | 10,284 | 10,045 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS’ EQUITY | ||
Common stock - authorized 20,000,000 shares of $0.01 par value; 10,096,175 and 10,058,571 shares issued and outstanding at January 31, 2022 and October 31, 2021, respectively | 101 | 101 |
Additional paid-in capital | 24,427 | 24,301 |
Retained earnings | 14,924 | 15,201 |
TOTAL STOCKHOLDERS' EQUITY | 39,452 | 39,603 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 49,736 | $ 49,648 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jan. 31, 2022 | Oct. 31, 2021 |
Trade accounts receivable, allowance for doubtful accounts | $ 83 | $ 87 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, shares issued (in shares) | 10,096,175 | 10,058,571 |
Common stock, shares outstanding (in shares) | 10,096,175 | 10,058,571 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Net sales | $ 16,918,000 | $ 10,002,000 |
Cost of sales | 12,834,000 | 7,396,000 |
Gross profit | 4,084,000 | 2,606,000 |
Operating expenses: | ||
Engineering | 454,000 | 431,000 |
Selling and general | 3,992,000 | 2,764,000 |
Total operating expenses | 4,446,000 | 3,195,000 |
Operating loss | (362,000) | (589,000) |
Other income (expense) | 5,000 | (8,000) |
Loss before benefit for income taxes | (357,000) | (597,000) |
Benefit from income taxes | (80,000) | (194,000) |
Consolidated net loss | $ (277,000) | $ (403,000) |
Loss per share | ||
Basic (in dollars per share) | $ (0.03) | $ (0.04) |
Diluted (in dollars per share) | $ (0.03) | $ (0.04) |
Weighted average shares outstanding | ||
Basic (in shares) | 10,067,186 | 9,864,689 |
Diluted (in shares) | 10,067,186 | 9,864,689 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Oct. 31, 2020 | 9,814,118 | |||
Balance at Oct. 31, 2020 | $ 98 | $ 22,946 | $ 9,020 | $ 32,064 |
Stock-based compensation expense | 123 | 123 | ||
Issuance of restricted stock (in shares) | 36,834 | |||
Issuance of restricted stock | $ 1 | (1) | ||
Tax withholding related to vesting of restricted stock (in shares) | (2,367) | |||
Tax withholding related to vesting of restricted stock | (11) | (11) | ||
Consolidated net loss | $ 0 | 0 | (403) | (403) |
Balance (in shares) at Jan. 31, 2021 | 9,962,456 | |||
Balance at Jan. 31, 2021 | $ 100 | 23,441 | 8,617 | 32,158 |
Exercise of stock options (in shares) | 118,189 | |||
Exercise of stock options | $ 1 | 384 | 385 | |
Forfeiture of restricted stock (in shares) | (4,318) | |||
Balance (in shares) at Oct. 31, 2021 | 10,058,571 | |||
Balance at Oct. 31, 2021 | $ 101 | 24,301 | 15,201 | 39,603 |
Stock-based compensation expense | 139 | 139 | ||
Issuance of restricted stock (in shares) | 39,666 | |||
Issuance of restricted stock | $ 0 | 0 | ||
Tax withholding related to vesting of restricted stock (in shares) | (2,062) | |||
Tax withholding related to vesting of restricted stock | (13) | (13) | ||
Consolidated net loss | $ 0 | 0 | (277) | (277) |
Balance (in shares) at Jan. 31, 2022 | 10,096,175 | |||
Balance at Jan. 31, 2022 | $ 101 | $ 24,427 | $ 14,924 | $ 39,452 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
OPERATING ACTIVITIES: | ||
Consolidated net loss | $ (277) | $ (403) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Bad debt expense | (4) | (15) |
Depreciation and amortization | 180 | 237 |
Stock-based compensation expense | 139 | 123 |
Tax payments related to shares cancelled for vested restricted stock awards | (13) | (11) |
Deferred income taxes | 23 | 766 |
Changes in operating assets and liabilities: | ||
Trade accounts receivable | 3,013 | 529 |
Inventories | (2,299) | (433) |
Other current assets | (693) | (1,326) |
Right of use assets | (15) | (6) |
Accounts payable | (122) | 35 |
Accrued expenses | 625 | 44 |
Income tax payable | 0 | (43) |
Other current liabilities | 0 | 296 |
Other long-term liabilities | 0 | (370) |
Net cash provided by (used in) operating activities | 557 | (577) |
INVESTING ACTIVITIES: | ||
Capital expenditures | (103) | (116) |
Net cash used in investing activities | (103) | (116) |
FINANCING ACTIVITIES: | ||
Proceeds from exercise of stock options | 0 | 385 |
Net cash provided by financing activities | 0 | 385 |
Net increase (decrease) in cash and cash equivalents | 454 | (308) |
Cash and cash equivalents, beginning of period | 13,053 | 15,797 |
Cash and cash equivalents, end of period | 13,507 | 15,489 |
Supplemental cash flow information – income taxes paid | $ 156 | $ 6 |
Note 1 - Unaudited Interim Cond
Note 1 - Unaudited Interim Condensed Consolidated Financial Statements | 3 Months Ended |
Jan. 31, 2022 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Note 1 Unaudited interim condensed consolidated financial statements Our accompanying unaudited condensed consolidated financial statements 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 not not October 31, 2021 October 31, 2021 10 10 October 31, 2021 three January 31, 2022 not may October 31, 2022. 10 Principles of consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of RF Industries, Ltd. and our four Risks and uncertainties In March 2020, 19” 19 19 The outbreak impacted our performance for the three January 31, 2022. 19 May 2020 748 12 In March 2021, 2021 20, October 31, 2021, January 31, 2022, We considered the impact of the COVID- 19 January 31, 2022. no Fair value measurement We measure at fair value certain financial assets and liabilities. Fair value is defined as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. The accounting principles generally accepted in the United States of America ("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 our market assumptions. These two Level 1 Level 2 not Level 3 one As of January 31, 2022 October 31, 2021, 4 Recent accounting standards Recently issued accounting pronouncements not In June 2016, 2016 13, December 15, 2019. November 2019, 2019 10, 326 December 15, 2022. Recently issued accounting pronouncements adopted: In January 2017, No. 2017 04, 2 November 1, 2020, 2021, not January 31, 2022 October 31, 2021. In December 2019, 2019 12, 740 November 1, 2021 no |
Note 2 - Inventories and Major
Note 2 - Inventories and Major Vendors | 3 Months Ended |
Jan. 31, 2022 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note 2 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, 2022 October 31, 2021 Raw materials and supplies $ 8,648 $ 6,422 Work in process 355 381 Finished goods 4,474 4,376 Totals $ 13,477 $ 11,179 For the three January 31, 2022, 10% three January 31, 2021. |
Note 3 - Other Current Assets
Note 3 - Other Current Assets | 3 Months Ended |
Jan. 31, 2022 | |
Notes to Financial Statements | |
Other Current Assets [Text Block] | Note 3 Other current assets Other current assets consist of the following (in thousands): January 31, 2022 October 31, 2021 Employee retention credit ("ERC") $ 1,774 $ 1,774 Prepaid taxes 469 314 Prepaid expense 779 439 Other 564 366 Totals $ 3,586 $ 2,893 Pursuant to the CARES Act, eligible employers are able to claim an ERC, which is a refundable tax credit against certain employment taxes. If the employer’s employment tax deposits are not may January 31, 2022, not |
Note 4 - Accrued Expenses and O
Note 4 - Accrued Expenses and Other Current Liabilities | 3 Months Ended |
Jan. 31, 2022 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Noncurrent [Text Block] | Note 4 Accrued expenses and other current liabilities Accrued expenses consist of the following (in thousands): January 31, 2022 October 31, 2021 Wages payable $ 1,917 $ 2,607 Accrued receipts 2,458 1,711 Other accrued expenses 1,284 716 Totals $ 5,659 $ 5,034 Accrued receipts represent purchased inventory for which invoices have not The purchase agreement for the Schrofftech acquisition provided for earn-out payments of up to $2,400,000, which were to be earned through October 31, 2021. October 31, 2021, October 31, 2021. We estimated the fair value of the earn-out liability using an option pricing based approach with a risk-neutral framework using Black Scholes related to Schrofftech calculated at net present value (Level 3 October 31, 2021, October 31, 2021, no January 31, 2022. The following table summarizes the changes to the Level 3 three January 31, 2022 2021 Level 3 January 31, 2022 January 31, 2021 Beginning balance $ - $ 370 Change in value - (74 ) Ending balance $ - $ 296 The earn-out was revalued quarterly using a present value approach and the resulting decrease was recorded into selling and general expenses. |
Note 5 - Loss per share
Note 5 - Loss per share | 3 Months Ended |
Jan. 31, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 5 Loss per share Basic loss per share is computed by dividing net loss 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. During the three January 31, 2022 2021, three January 31, 2022 2021, The following table summarizes the computation of basic and diluted weighted average shares outstanding: Three Months Ended January 31, 2022 2021 Weighted average shares outstanding for basic loss per share 10,067,186 9,864,689 Add effects of potentially dilutive securities-assumed exercise of stock options - - Weighted average shares outstanding for diluted loss per share 10,067,186 9,864,689 |
Note 6 - Stock-based Compensati
Note 6 - Stock-based Compensation and Equity Transactions | 3 Months Ended |
Jan. 31, 2022 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 6 Stock-based compensation and equity transactions On January 12, 2021, one three four one January 12, 2022; twelve three ten On January 10, 2022, one three four one January 10, 2023; twelve three ten No three January 31, 2022 2021. The weighted average fair value of employee stock options that were granted during the three January 31, 2022 2021 Three Months Ended January 31, 2022 2021 Risk-free interest rate 1.23 % 0.39 % Dividend yield 0.00 % 0.00 % Expected life of the option (in years) 7.00 7.00 Volatility factor 53.35 % 51.94 % Expected volatilities are based on historical volatility of our stock price and other factors. We used the historical method to calculate the expected life of the 2022 2021 Company stock option plans Descriptions of our stock option plans are included in Note 9 10 October 31, 2021. January 31, 2022 three Weighted Average Shares Exercise Price Outstanding at November 1, 2021 618,858 $ 5.33 Options granted 106,001 $ 7.11 Options exercised - $ - Options cancelled - $ - Options outstanding at January 31, 2022 724,859 $ 5.59 Options exercisable at January 31, 2022 363,067 $ 5.94 Options vested and expected to vest at January 31, 2022 723,008 $ 5.60 Weighted average remaining contractual life of options outstanding as of January 31, 2022: Weighted average remaining contractual life of options exercisable as of January 31, 2022: Weighted average remaining contractual life of options vested and expected to vest as of January 31, 2022: Aggregate intrinsic value of options outstanding at January 31, 2022: Aggregate intrinsic value of options exercisable at January 31, 2022: Aggregate intrinsic value of options vested and expected to vest at January 31, 2022: As of January 31, 2022, Under the compensation policies adopted by the Compensation Committee, directors who also are officers and/or employees of the Company do not 2020 2021, not one $25,000 one four September 15, 2020 September 15, 2021 20 2021. On September 8, 2021, 2022 2021 September 8, 2021, four December 8, 2021, 20 September 8, 2021, Stock option expense During the three January 31, 2022 2021, |
Note 7 - Concentrations of Cred
Note 7 - Concentrations of Credit Risk | 3 Months Ended |
Jan. 31, 2022 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | Note 7 Concentrations of credit risk Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. We maintain our cash and cash equivalents with high-credit quality financial institutions. At January 31, 2022, Sales from each customer that were 10% Three Months Ended January 31, 2022 2021 Wireless provider 32 % * Distributor A * 16 % Distributor B * 12 % * Less than 10% For the three January 31, 2022, one three January 31, 2021. not |
Note 8 - Segment Information
Note 8 - Segment Information | 3 Months Ended |
Jan. 31, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 8 Segment information We aggregate operating divisions into two reporting segments that have similar economic characteristics primarily in the following areas: ( 1 2 3 4 5 January 31, 2022, two The RF Connector segment consisted of one four five Management identifies 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, Rel-Tech, C Enterprises, and Schrofftech divisions constitute the Custom Cabling segment. As reviewed by our chief operating decision maker, we evaluate the performance of each segment based on income or loss before income taxes. We charge depreciation and amortization directly to each division within the segment. Accounts receivable, inventory, property and equipment, right of use assets, 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. All of our operations are conducted in the United States; however, we derive a portion of our revenue from export sales. We attribute sales to geographic areas based on the location of the customers. The following table presents the sales by geographic area for the three January 31, 2022 2021 Three Months Ended January 31, 2022 2021 United States $ 16,418 $ 9,379 Foreign Countries: Canada 297 525 Mexico 25 - All Other 178 98 500 623 Totals $ 16,918 $ 10,002 Net sales, income (loss) before benefit for income taxes and other related segment information for the three January 31, 2022 2021 RF Connector Custom Cabling and Manufacturing and 2022 Cable Assembly Assembly Corporate Total Net sales $ 3,923 $ 12,995 $ - $ 16,918 Income (loss) before benefit for income taxes 56 314 (727 ) (357 ) Depreciation and amortization 37 143 - 180 Total assets 7,572 24,635 17,529 49,736 2021 Net sales $ 3,575 $ 6,427 $ - $ 10,002 Income (loss) before provision for income taxes 453 (1,042 ) (8 ) (597 ) Depreciation and amortization 35 202 - 237 Total assets 7,667 15,202 17,766 40,635 |
Note 9 - Income Taxes
Note 9 - Income Taxes | 3 Months Ended |
Jan. 31, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 9 Income taxes We use 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 we operate, to determine its quarterly 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. We recorded income tax benefits of $80,000 and $194,000 for the three January 31, 2022 2021, three January 31, 2022, three January 31, 2021. three January 31, 2022 three January 31, 2021 We had $174,000 and $141,000 of unrecognized tax benefits, inclusive of interest and penalties, as of January 31, 2022 October 31, 2021, January 31, 2022. |
Note 10 - Intangible Assets
Note 10 - Intangible Assets | 3 Months Ended |
Jan. 31, 2022 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | Note 10 Intangible assets Intangible assets consist of the following (in thousands): January 31, 2022 October 31, 2021 Amortizable intangible assets: Non-compete agreement (estimated life 5 years) $ 423 $ 423 Accumulated amortization (300 ) (289 ) 123 134 Customer relationships (estimated lives 7 - 15 years) 5,058 5,058 Accumulated amortization (2,786 ) (2,711 ) 2,272 2,347 Backlog (estimated life 1 - 2 years) 287 287 Accumulated amortization (287 ) (287 ) - - Patents (estimated life 10 - 14 years) 368 368 Accumulated amortization (119 ) (110 ) 249 258 Totals $ 2,644 $ 2,739 Non-amortizable intangible assets: Trademarks $ 1,174 $ 1,174 Amortization expense for the three January 31, 2022 October 31, 2021 January 31, 2022, |
Note 11 - Commitments
Note 11 - Commitments | 3 Months Ended |
Jan. 31, 2022 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | Note 11 Commitments We have operating leases for corporate offices, manufacturing facilities, and certain storage units. Our leases have remaining lease terms of 1 5 We also have other operating leases for certain equipment. The components of our facilities and equipment operating lease expenses for the period ending January 31, 2022 Three Months Ended January 31, 2022 Operating lease cost $ 261 Short-term lease cost - Other information related to leases was as follows (in thousands): January 31, 2022 October 31, 2021 Supplemental Cash Flows Information Right of use assets obtained in exchange for lease obligations: Operating leases $ 1,204 $ 1,453 Weighted Average Remaining Lease Term Operating leases (months) 23.89 25.26 Weighted Average Discount Rate Operating leases 3.54 % 3.54 % Future minimum lease payments under non-cancellable leases as of January 31, 2022 Year ended October 31, Operating Leases 2022 (excluding three months ended January 31, 2022) $ 613 2023 478 2024 234 2025 13 2026 7 Thereafter - Total future minimum lease payments 1,345 Less imputed interest (102 ) Total $ 1,243 Reported as of January 31, 2022 Operating Leases Other current liabilities $ 698 Operating lease liabilities 545 Finance lease liabilities - Total $ 1,243 As of January 31, 2022, January 31, 2022. The Schrofftech facilities, consisting of two two February 1, 2022 two January 31, 2024. |
Note 12 - PPP loans
Note 12 - PPP loans | 3 Months Ended |
Jan. 31, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 12 PPP loans In May 2020, April 30, 2021, |
Note 13 - Cash Dividend and Dec
Note 13 - Cash Dividend and Declared Dividends | 3 Months Ended |
Jan. 31, 2022 | |
Notes to Financial Statements | |
Cash Dividend and Declared Dividends [Text Block] | Note 13 Cash dividend and declared dividends We did not three January 31, 2022, three January 31, 2021. |
Note 14 - Subsequent Events
Note 14 - Subsequent Events | 3 Months Ended |
Jan. 31, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 14 Subsequent events Lease Agreement On February 1, 2022, 16868 ten December 1, 2022, Credit Facility On February 25, 2022, The primary interest rate for the Revolving Credit Facility is based on the Bloomberg Short-Term Bank Yield Index Rate plus a margin of 2.00%. The maturity date of the Revolving Credit Facility is March 1, 2024. March 1, 2027. Acquisition of Microlab/FXR LLC On March 1, 2022, December 16, 2021, $17 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Jan. 31, 2022 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of RF Industries, Ltd. and our four |
Risks and Uncertainties [Policy Text Block] | Risks and uncertainties In March 2020, 19” 19 19 The outbreak impacted our performance for the three January 31, 2022. 19 May 2020 748 12 In March 2021, 2021 20, October 31, 2021, January 31, 2022, We considered the impact of the COVID- 19 January 31, 2022. no |
Fair Value Measurement, Policy [Policy Text Block] | Fair value measurement We measure at fair value certain financial assets and liabilities. Fair value is defined as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. The accounting principles generally accepted in the United States of America ("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 our market assumptions. These two Level 1 Level 2 not Level 3 one As of January 31, 2022 October 31, 2021, 4 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent accounting standards Recently issued accounting pronouncements not In June 2016, 2016 13, December 15, 2019. November 2019, 2019 10, 326 December 15, 2022. Recently issued accounting pronouncements adopted: In January 2017, No. 2017 04, 2 November 1, 2020, 2021, not January 31, 2022 October 31, 2021. In December 2019, 2019 12, 740 November 1, 2021 no |
Note 2 - Inventories and Majo_2
Note 2 - Inventories and Major Vendors (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | January 31, 2022 October 31, 2021 Raw materials and supplies $ 8,648 $ 6,422 Work in process 355 381 Finished goods 4,474 4,376 Totals $ 13,477 $ 11,179 |
Note 3 - Other Current Assets (
Note 3 - Other Current Assets (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Notes Tables | |
Schedule of Other Current Assets [Table Text Block] | January 31, 2022 October 31, 2021 Employee retention credit ("ERC") $ 1,774 $ 1,774 Prepaid taxes 469 314 Prepaid expense 779 439 Other 564 366 Totals $ 3,586 $ 2,893 |
Note 4 - Accrued Expenses and_2
Note 4 - Accrued Expenses and Other Current Liabilities (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | January 31, 2022 October 31, 2021 Wages payable $ 1,917 $ 2,607 Accrued receipts 2,458 1,711 Other accrued expenses 1,284 716 Totals $ 5,659 $ 5,034 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Level 3 January 31, 2022 January 31, 2021 Beginning balance $ - $ 370 Change in value - (74 ) Ending balance $ - $ 296 |
Note 5 - Loss per share (Tables
Note 5 - Loss per share (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Notes Tables | |
Schedule of Weighted Average Number of Shares [Table Text Block] | Three Months Ended January 31, 2022 2021 Weighted average shares outstanding for basic loss per share 10,067,186 9,864,689 Add effects of potentially dilutive securities-assumed exercise of stock options - - Weighted average shares outstanding for diluted loss per share 10,067,186 9,864,689 |
Note 6 - Stock-based Compensa_2
Note 6 - Stock-based Compensation and Equity Transactions (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Three Months Ended January 31, 2022 2021 Risk-free interest rate 1.23 % 0.39 % Dividend yield 0.00 % 0.00 % Expected life of the option (in years) 7.00 7.00 Volatility factor 53.35 % 51.94 % |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Average Shares Exercise Price Outstanding at November 1, 2021 618,858 $ 5.33 Options granted 106,001 $ 7.11 Options exercised - $ - Options cancelled - $ - Options outstanding at January 31, 2022 724,859 $ 5.59 Options exercisable at January 31, 2022 363,067 $ 5.94 Options vested and expected to vest at January 31, 2022 723,008 $ 5.60 |
Note 7 - Concentrations of Cr_2
Note 7 - Concentrations of Credit Risk (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Three Months Ended January 31, 2022 2021 Wireless provider 32 % * Distributor A * 16 % Distributor B * 12 % |
Note 8 - Segment Information (T
Note 8 - Segment Information (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Notes Tables | |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | Three Months Ended January 31, 2022 2021 United States $ 16,418 $ 9,379 Foreign Countries: Canada 297 525 Mexico 25 - All Other 178 98 500 623 Totals $ 16,918 $ 10,002 |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | RF Connector Custom Cabling and Manufacturing and 2022 Cable Assembly Assembly Corporate Total Net sales $ 3,923 $ 12,995 $ - $ 16,918 Income (loss) before benefit for income taxes 56 314 (727 ) (357 ) Depreciation and amortization 37 143 - 180 Total assets 7,572 24,635 17,529 49,736 2021 Net sales $ 3,575 $ 6,427 $ - $ 10,002 Income (loss) before provision for income taxes 453 (1,042 ) (8 ) (597 ) Depreciation and amortization 35 202 - 237 Total assets 7,667 15,202 17,766 40,635 |
Note 10 - Intangible Assets (Ta
Note 10 - Intangible Assets (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Notes Tables | |
Schedule of Finite-lived and Indefinite-lived Intangible Assets [Table Text Block] | January 31, 2022 October 31, 2021 Amortizable intangible assets: Non-compete agreement (estimated life 5 years) $ 423 $ 423 Accumulated amortization (300 ) (289 ) 123 134 Customer relationships (estimated lives 7 - 15 years) 5,058 5,058 Accumulated amortization (2,786 ) (2,711 ) 2,272 2,347 Backlog (estimated life 1 - 2 years) 287 287 Accumulated amortization (287 ) (287 ) - - Patents (estimated life 10 - 14 years) 368 368 Accumulated amortization (119 ) (110 ) 249 258 Totals $ 2,644 $ 2,739 Non-amortizable intangible assets: Trademarks $ 1,174 $ 1,174 |
Note 11 - Commitments (Tables)
Note 11 - Commitments (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended January 31, 2022 Operating lease cost $ 261 Short-term lease cost - |
Lessee, Leases, Other Information [Table Text Block] | January 31, 2022 October 31, 2021 Supplemental Cash Flows Information Right of use assets obtained in exchange for lease obligations: Operating leases $ 1,204 $ 1,453 Weighted Average Remaining Lease Term Operating leases (months) 23.89 25.26 Weighted Average Discount Rate Operating leases 3.54 % 3.54 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year ended October 31, Operating Leases 2022 (excluding three months ended January 31, 2022) $ 613 2023 478 2024 234 2025 13 2026 7 Thereafter - Total future minimum lease payments 1,345 Less imputed interest (102 ) Total $ 1,243 Reported as of January 31, 2022 Operating Leases Other current liabilities $ 698 Operating lease liabilities 545 Finance lease liabilities - Total $ 1,243 |
Note 1 - Unaudited Interim Co_2
Note 1 - Unaudited Interim Condensed Consolidated Financial Statements (Details Textual) - USD ($) $ in Thousands | May 01, 2020 | May 31, 2020 | Jan. 31, 2022 | Oct. 31, 2021 |
Employee Retention Tax Credit Receivable | $ 1,774 | $ 1,774 | ||
Other Current Assets [Member] | ||||
Employee Retention Tax Credit Receivable | $ 1,800 | |||
Paycheck Protection Program CARES Act [Member] | ||||
Proceeds from Issuance of Long-term Debt, Total | $ 2,800 | $ 2,800 |
Note 2 - Inventories and Majo_3
Note 2 - Inventories and Major Vendors (Details Textual) - Supplier Concentration Risk [Member] - Inventory Purchases [Member] | 3 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Number of Major Vendors | 2 | 0 |
Vendors One [Member] | ||
Concentration Risk, Percentage | 30.00% | |
Vendors Two [Member] | ||
Concentration Risk, Percentage | 10.00% |
Note 2 - Inventories and Majo_4
Note 2 - Inventories and Major Vendors - Inventories (Details) - USD ($) $ in Thousands | Jan. 31, 2022 | Oct. 31, 2021 |
Raw materials and supplies | $ 8,648 | $ 6,422 |
Work in process | 355 | 381 |
Finished goods | 4,474 | 4,376 |
Totals | $ 13,477 | $ 11,179 |
Note 3 - Other Current Assets -
Note 3 - Other Current Assets - Other Current Assets (Details) - USD ($) $ in Thousands | Jan. 31, 2022 | Oct. 31, 2021 |
Employee retention credit ("ERC") | $ 1,774 | $ 1,774 |
Prepaid taxes | 469 | 314 |
Prepaid expense | 779 | 439 |
Other | 564 | 366 |
Totals | $ 3,586 | $ 2,893 |
Note 4 - Accrued Expenses and_3
Note 4 - Accrued Expenses and Other Current Liabilities (Details Textual) | Nov. 04, 2019USD ($) |
Schrofftech [Member] | |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 2,400,000 |
Note 4 - Accrued Expenses and_4
Note 4 - Accrued Expenses and Other Current Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands | Jan. 31, 2022 | Oct. 31, 2021 |
Wages payable | $ 1,917 | $ 2,607 |
Accrued receipts | 2,458 | 1,711 |
Other accrued expenses | 1,284 | 716 |
Totals | $ 5,659 | $ 5,034 |
Note 4 - Accrued Expenses and_5
Note 4 - Accrued Expenses and Other Current Liabilities - Level 3 Transactions (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Beginning balance | $ 0 | $ 370 |
Change in value | 0 | (74) |
Ending balance | $ 0 | $ 296 |
Note 5 - Loss per share (Detail
Note 5 - Loss per share (Details Textual) - shares | 3 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Out-of-the-money Securities [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 459,889 | 331,338 |
Note 5 - Loss per share - Basic
Note 5 - Loss per share - Basic and Diluted Weighted Average Shares Outstanding (Details) - shares | 3 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Basic (in shares) | 10,067,186 | 9,864,689 |
Diluted (in shares) | 10,067,186 | 9,864,689 |
Note 6 - Stock-based Compensa_3
Note 6 - Stock-based Compensation and Equity Transactions (Details Textual) - USD ($) | Jan. 10, 2022 | Sep. 08, 2021 | Jan. 12, 2021 | Jan. 31, 2022 | Jan. 31, 2021 | Sep. 15, 2020 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year) | 6 years 8 months 1 day | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term (Year) | 5 years 8 months 1 day | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term (Year) | 6 years 8 months 1 day | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 1,372,439 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 639,653 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | 1,363,724 | |||||
Selling, General and Administrative Expenses [Member] | ||||||
Share-based Payment Arrangement, Expense | 139,000 | $ 123,000 | ||||
Share-based Payment Arrangement, Nonemployee [Member] | ||||||
Nonemployee Director, Annual Compensation | $ 50,000 | $ 50,000 | ||||
Restricted Stock [Member] | ||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 605,000 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 5 months 1 day | |||||
Incentive Stock Options [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 3.84 | $ 2.46 | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 865,000 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 8 months 19 days | |||||
One Manager and Three Officers [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 39,666 | 33,500 | ||||
One Manager and Three Officers [Member] | Incentive Stock Options [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 106,001 | 67,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||
One Manager and Three Officers [Member] | Restricted Stock and Incentive Stock Options [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | 4 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||
One Manager and Three Officers [Member] | Restricted Stock and Incentive Stock Options [Member] | Vesting on January 12, 2022 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |||||
One Manager and Three Officers [Member] | Restricted Stock and Incentive Stock Options [Member] | Vesting on January 10, 2023 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |||||
Non-employee Directors and Chairperson of Committee on Board [Member] | ||||||
Annual Payable, Additional Compensation | $ 15,000 | |||||
Share Price, 20 Day Average (in dollars per share) | $ 8.21 | $ 4.34 | ||||
Non-employee Directors and Chairman of the Board [Member] | ||||||
Annual Payable, Additional Compensation | $ 25,000 | |||||
Non-employee Directors and Audit Committee Chair [Member] | ||||||
Annual Payable, Additional Compensation | 25,000 | |||||
Non-employee Directors and Compensation Committee Chair [Member] | ||||||
Annual Payable, Additional Compensation | 20,000 | |||||
Non-employee Directors and Strategic Planning and Capital Allocation Chair [Member] | ||||||
Annual Payable, Additional Compensation | 20,000 | |||||
Non-employee Directors and Nominating & Governance Chair [Member] | ||||||
Annual Payable, Additional Compensation | $ 10,000 | |||||
Mr. Holdsworth [Member] | Restricted Stock [Member] | ||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares) | 5,785 | |||||
Ms. Cefali [Member] | Restricted Stock [Member] | ||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares) | 4,871 | |||||
Mr. Garland [Member] | Restricted Stock [Member] | ||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares) | 4,567 | |||||
Mr. Fink [Member] | Restricted Stock [Member] | ||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares) | 3,044 |
Note 6 - Stock-based Compensa_4
Note 6 - Stock-based Compensation and Equity Transactions - Assumptions (Details) | 3 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Risk-free interest rate | 1.23% | 0.39% |
Dividend yield | 0.00% | 0.00% |
Expected life of the option (in years) (Year) | 7 years | 7 years |
Volatility factor | 53.35% | 51.94% |
Note 6 - Stock-based Compensa_5
Note 6 - Stock-based Compensation and Equity Transactions - Options Outstanding (Details) | 3 Months Ended |
Jan. 31, 2022$ / sharesshares | |
Outstanding at November 1, 2021 (in shares) | shares | 618,858 |
Outstanding at November 1, 2021 (in dollars per share) | $ / shares | $ 5.33 |
Options granted (in shares) | shares | 106,001 |
Options granted (in dollars per share) | $ / shares | $ 7.11 |
Options outstanding at January 31, 2022 (in shares) | shares | 724,859 |
Options outstanding at January 31, 2022 (in dollars per share) | $ / shares | $ 5.59 |
Options exercisable at January 31, 2022 (in shares) | shares | 363,067 |
Options exercisable at January 31, 2022 (in dollars per share) | $ / shares | $ 5.94 |
Options vested and expected to vest at January 31, 2022 (in shares) | shares | 723,008 |
Options vested and expected to vest at January 31, 2022 (in dollars per share) | $ / shares | $ 5.60 |
Note 7 - Concentrations of Cr_3
Note 7 - Concentrations of Credit Risk (Details Textual) $ in Millions | 3 Months Ended |
Jan. 31, 2022USD ($) | |
Cash, Uninsured Amount | $ 12.3 |
Revenue from Contract with Customer Benchmark [Member] | Customer Concentration Risk [Member] | Wireless Carrier Customer [Member] | |
Concentration Risk, Percentage | 32.00% |
Revenue from Contract with Customer Benchmark [Member] | Customer Concentration Risk [Member] | Distributor Owo [Member] | |
Concentration Risk, Percentage | 16.00% |
Revenue from Contract with Customer Benchmark [Member] | Customer Concentration Risk [Member] | Distributor Two [Member] | |
Concentration Risk, Percentage | 12.00% |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Wireless Carrier Customer [Member] | |
Concentration Risk, Percentage | 37.00% |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Distributor Owo [Member] | |
Concentration Risk, Percentage | 15.00% |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Distributor Two [Member] | |
Concentration Risk, Percentage | 19.00% |
Note 7 - Concentrations of Cr_4
Note 7 - Concentrations of Credit Risk - Sales (Details) - Revenue Benchmark [Member] - Customer Concentration Risk [Member] | 3 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Wireless Provider [Member] | ||
Concentration Risk, Percentage | 32.00% | |
Distributor A [Member] | ||
Concentration Risk, Percentage | 16.00% | |
Distributor B [Member] | ||
Concentration Risk, Percentage | 12.00% |
Note 8 - Segment Information (D
Note 8 - Segment Information (Details Textual) | 3 Months Ended |
Jan. 31, 2022 | |
Number of Reportable Segments | 2 |
Note 8 - Segment Information -
Note 8 - Segment Information - Sales by Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Net sales | $ 16,918 | $ 10,002 |
UNITED STATES | ||
Net sales | 16,418 | 9,379 |
CANADA | ||
Net sales | 297 | 525 |
MEXICO | ||
Net sales | 25 | 0 |
All Other Foreign Countries [Member] | ||
Net sales | 178 | 98 |
Non-US [Member] | ||
Net sales | $ 500 | $ 623 |
Note 8 - Segment Information _2
Note 8 - Segment Information - Net Sales, Income Before Provision for Income Taxes and Other Related Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Jan. 31, 2022 | Jan. 31, 2021 | Oct. 31, 2021 | ||
Net sales | $ 16,918 | $ 10,002 | ||
Income (loss) before benefit for income taxes | (357) | (597) | ||
Depreciation and amortization | 180 | 237 | ||
Total assets | 49,736 | 40,635 | $ 49,648 | |
Corporate, Non-Segment [Member] | ||||
Net sales | 0 | 0 | ||
Income (loss) before benefit for income taxes | (727) | [1] | (8) | |
Depreciation and amortization | 0 | 0 | ||
Total assets | 17,529 | 17,766 | ||
RF Connector and Cable Assembly [Member] | Operating Segments [Member] | ||||
Net sales | 3,923 | 3,575 | ||
Income (loss) before benefit for income taxes | 56 | 453 | ||
Depreciation and amortization | 37 | 35 | ||
Total assets | 7,572 | 7,667 | ||
Custom Cabling Manufacturing and Assembly [Member] | Operating Segments [Member] | ||||
Net sales | 12,995 | 6,427 | ||
Income (loss) before benefit for income taxes | 314 | (1,042) | ||
Depreciation and amortization | 143 | 202 | ||
Total assets | $ 24,635 | $ 15,202 | ||
[1] | For the 12 months ended October 31, 2021, other income consists of the $2.8M PPP loans that were forgiven. |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Oct. 31, 2021 | |
Income Tax Expense (Benefit), Total | $ (80,000) | $ (194,000) | |
Effective Income Tax Rate Reconciliation, Percent, Total | 22.30% | 32.40% | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 174,000 | $ 141,000 | |
Unrecognized Tax Benefits, Ending Balance | $ 168,000 |
Note 10 - Intangible Assets (De
Note 10 - Intangible Assets (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended |
Jan. 31, 2022 | Oct. 31, 2021 | |
Amortization of Intangible Assets, Total | $ 95,000 | $ 442,000 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year) | 7 years 7 months 13 days |
Note 10 - Intangible Assets - I
Note 10 - Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands | Jan. 31, 2022 | Oct. 31, 2021 |
Amortizable intangible assets, net | $ 2,644 | $ 2,739 |
Non-amortizable intangible assets, trademarks | 1,174 | 1,174 |
Noncompete Agreements [Member] | ||
Amortizable intangible assets, gross | 423 | 423 |
Accumulated amortization | (300) | (289) |
Amortizable intangible assets, net | 123 | 134 |
Customer Relationships [Member] | ||
Amortizable intangible assets, gross | 5,058 | 5,058 |
Accumulated amortization | (2,786) | (2,711) |
Amortizable intangible assets, net | 2,272 | 2,347 |
Order or Production Backlog [Member] | ||
Amortizable intangible assets, gross | 287 | 287 |
Accumulated amortization | (287) | (287) |
Amortizable intangible assets, net | 249 | 258 |
Patents [Member] | ||
Amortizable intangible assets, gross | 368 | 368 |
Accumulated amortization | $ (119) | $ (110) |
Note 10 - Intangible Assets -_2
Note 10 - Intangible Assets - Intangible Assets (Details) (Parentheticals) | 3 Months Ended | 12 Months Ended |
Jan. 31, 2022 | Oct. 31, 2021 | |
Noncompete Agreements [Member] | ||
Estimated life (Year) | 5 years | 5 years |
Customer Relationships [Member] | Minimum [Member] | ||
Estimated life (Year) | 7 years | 7 years |
Customer Relationships [Member] | Maximum [Member] | ||
Estimated life (Year) | 15 years | 15 years |
Order or Production Backlog [Member] | Minimum [Member] | ||
Estimated life (Year) | 1 year | 1 year |
Order or Production Backlog [Member] | Maximum [Member] | ||
Estimated life (Year) | 2 years | 2 years |
Patents [Member] | Minimum [Member] | ||
Estimated life (Year) | 10 years | 10 years |
Patents [Member] | Maximum [Member] | ||
Estimated life (Year) | 14 years | 14 years |
Note 11 - Commitments (Details
Note 11 - Commitments (Details Textual) | Feb. 01, 2022USD ($)a | Jan. 31, 2022USD ($) | Oct. 31, 2021USD ($) |
Lessee, Operating Lease, Remaining Lease Term (Year) | 5 years | ||
Operating Lease, Right-of-Use Asset | $ 1,204,000 | $ 1,453,000 | |
Operating Lease, Liability, Total | 1,243,000 | ||
Operating Lease, Liability, Current | 698,000 | $ 832,000 | |
Finance Lease, Liability, Total | 0 | ||
Lease Renewal [Member] | Subsequent Event [Member] | |||
Number of Buildings | 2 | ||
Area of Real Estate Property (Acre) | a | 10,700 | ||
Lessor, Operating Lease, Renewal Term (Year) | 2 years | ||
Operating Lease, Monthly Payment | $ 6,720 | ||
Other Current Liabilities [Member] | |||
Operating Lease, Liability, Current | 698,000 | ||
K and K Unlimited [Member] | |||
Lessee, Operating Lease, Monthly Rent | $ 16,000 | ||
Minimum [Member] | |||
Lessee, Operating Lease, Remaining Lease Term (Year) | 1 year | ||
Maximum [Member] | |||
Lessee, Operating Lease, Remaining Lease Term (Year) | 3 years |
Note 11 - Commitments - Operati
Note 11 - Commitments - Operating Lease Expense (Details) $ in Thousands | 3 Months Ended |
Jan. 31, 2022USD ($) | |
Operating lease cost | $ 261 |
Short-term lease cost | $ 0 |
Note 11 - Commitments - Other I
Note 11 - Commitments - Other Information Related to Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jan. 31, 2022 | Oct. 31, 2021 | |
Right of use assets obtained in exchange for lease obligations operating leases | $ 1,204 | $ 1,453 |
Weighted Average Remaining Lease Term, Operating leases (months) (Month) | 23 months 27 days | 25 months 7 days |
Weighted Average Discount Rate, Operating leases | 3.54% | 3.54% |
Note 11 - Commitments - Future
Note 11 - Commitments - Future Minimum Lease Payments (Details) - USD ($) | Jan. 31, 2022 | Oct. 31, 2021 |
2022 (excluding three months ended January 31, 2022) | $ 613,000 | |
2023 | 478,000 | |
2024 | 234,000 | |
2025 | 13,000 | |
2026 | 7,000 | |
Thereafter | 0 | |
Total future minimum lease payments | 1,345,000 | |
Less imputed interest | (102,000) | |
Total | 1,243,000 | |
Other current liabilities | 698,000 | $ 832,000 |
Operating lease liabilities | 545,000 | $ 675,000 |
Total | 1,243,000 | |
Other Current Liabilities [Member] | ||
Other current liabilities | $ 698,000 |
Note 12 - PPP loans (Details Te
Note 12 - PPP loans (Details Textual) - USD ($) $ in Millions | May 01, 2020 | May 31, 2020 |
Paycheck Protection Program CARES Act [Member] | ||
Proceeds from Issuance of Long-term Debt, Total | $ 2.8 | $ 2.8 |
Note 13 - Cash Dividend and D_2
Note 13 - Cash Dividend and Declared Dividends (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Payments of Ordinary Dividends, Common Stock | $ 0 | $ 0 |
Note 14 - Subsequent Events (De
Note 14 - Subsequent Events (Details Textual) - USD ($) | Dec. 01, 2022 | Mar. 01, 2022 | Feb. 25, 2022 |
Revolving Credit Facility [Member] | Bloomberg Short-Term Bank Yield Index Rate [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | ||
Subsequent Event [Member] | Microlab/FXR LLC [Member] | |||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||
Business Combination, Consideration Transferred, Total | $ 24,250,000 | ||
Subsequent Event [Member] | Bank of America, N.A. [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,000,000 | ||
Debt Instrument, Face Amount | $ 17,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.76% | ||
Forecast [Member] | |||
Lessee, Operating Lease, Term of Contract (Year) | 10 years | ||
Forecast [Member] | 16868 Via Del Campo Court [Member] | |||
Operating Lease, Payments | $ 139,123.20 |