Years Ended October 31, 1996, 1995 and 1994 Foreign
Additional Unrealized Currency
Common Paid-In Retained Gains On Translation Treasury
Stock Capital Earnings Investments Adjustment Stock Total
---------------------------------------------------------------------------------------------------------------------------
BALANCE NOVEMBER 1, 1993 $189,000 $22,903,000 $192,229,000 $ (584,000) $(18,054,000) $196,683,000 .
Net income 31,240,000 31,240,000 .
Foreign currency
translation adjustment (637,000) (637,000) .
Cash dividends ($.315 per share) (5,468,000) (5,468,000) .
Acquisition of treasury stock (65,000) (65,000) .
Exercise of stock options 1,000 1,041,000 1,042,000 .
-------- ----------- ------------ ---------- ----------- ------------ ------------
BALANCE OCTOBER 31, 1994 190,000 23,944,000 218,001,000 (1,221,000) (18,119,000) 222,795,000 .
Net income 23,286,000 23,286,000 .
Unrealized gains on investments $1,307,000 1,307,000 .
Foreign currency
translation adjustment 128,000 128,000 .
Cash dividends ($.36 per share) (6,260,000) (6,260,000) .
Acquisition of treasury stock (74,000) (74,000) .
Exercise of stock options 1,000 326,000 327,000 .
-------- ----------- ------------ ---------- ----------- ------------ ------------
BALANCE OCTOBER 31, 1995 191,000 24,270,000 235,027,000 1,307,000 (1,093,000) (18,193,000) 241,509,000 .
Net income 42,503,000 42,503,000 .
Unrealized losses on investments (560,000) (560,000) .
Foreign currency
translation adjustment 211,000 211,000 .
Cash dividends ($.36 per share) (6,335,000) (6,335,000) .
Acquisition of treasury stock (417,000) (417,000) .
Non-cash stock compensation 127,000 127,000 .
Exercise of stock options 3,000 3,693,000 3,696,000 .
-------- ----------- ------------ ---------- ----------- ------------ ------------
BALANCE OCTOBER 31, 1996 $194,000 $28,090,000 $271,195,000 $ 747,000 $ (882,000) $(18,610,000) $280,734,000 .
======== =========== ============ ========== =========== ============ ============
See Notes to Consolidated Financial Statements.