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Note 3 - Discontinued Operations | 12 Months Ended
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Sep. 30, 2024
Notes to Financial Statements |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 3. Discontinued Operations Disposition of the Semiconductor Automation Business On September 20, 2021, the Company entered into a definitive agreement to sell its semiconductor automation business to Thomas H. Lee Partners, L.P. (“THL”) and the Company determined that the semiconductor automation business met the criteria to be classified as a discontinued operation and, as a result, its historical financial results are reflected in the consolidated financial statements as a discontinued operation, and assets and liabilities were classified as assets and liabilities held for sale. On February 1, 2022, the Company completed the sale of the semiconductor automation business for $2.9 billion in cash. Following the completion of the sale, the Company no longer serves the semiconductor market. In connection with the closing of the sale, the Company and THL entered into a transition services agreement under which both the Company and THL provide each other certain transition services related to finance and accounting, information technology, human resources, compliance, facilities, legal and research and development support, for time periods which ranged from three to 24 months. In addition, the Company agreed to lease back a portion of the facilities in Chelmsford, Massachusetts, that were sold to THL as part of the sale agreement. As of September 30, 2024, neither party was providing the other services under the transition services agreement and the two original leases were terminated. The transition services approximated fair value and did not have a material impact on the Company’s financial results or operations. During the twelve months ended September 30, 2023, the Company recorded a $1.4 million loss on divestiture. The following table presents the financial results of automation business discontinued operations with respect to the automation business (in thousands) for the twelve months ended September 30, 2022:
|  | Year Ended September 30, |
|  | 2022 |
Revenue |  |  |  |
Products |  | $ | 244,962 |
Services |  |  | 19,468 |
Total revenue |  |  | 264,430 |
Cost of revenue |  |  |  |
Products |  |  | 141,165 |
Services |  |  | 11,159 |
Total cost of revenue |  |  | 152,324 |
Gross profit |  |  | 112,106 |
Operating expenses |  |  |  |
Research and development |  |  | 18,486 |
Selling, general and administrative |  |  | 30,622 |
Restructuring charges |  |  | - |
Total operating expenses |  |  | 49,108 |
Operating income |  |  | 62,998 |
Gain on divestiture |  |  | 2,561,820 |
Income before income taxes |  |  | 2,624,818 |
Income tax expense |  |  | 480,673 |
Net income from discontinued operations |  | $ | 2,144,145 |
The following table presents the significant non-cash items and capital expenditures for the discontinued operations with respect to the semiconductor automation business that are included in the Consolidated Statements of Cash Flows (in thousands):
|  | Year Ended September 30, |
|  | 2022 |
Capital expenditures |  |  | 2,862 |
There were no significant non-cash items and or capital expenditures related to discontinued operations during the fiscal years ended September 30, 2024 and 2023.

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