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Income Taxes (Tables)

12 Months Ended

Sep. 30, 2014

Income Taxes

Schedule of components of provision for income taxes of continuing operations

		Year ended September 30,
		2014			2013			2012
		(in thousands)
Current tax provision:
U.S. Federal		$	14,328		$	27,611		$	28,124
State			2,613			5,035			5,129
Foreign			1,888			1,757			118
			18,829			34,403			33,371
Deferred tax (benefit) expense:
U.S. Federal			(2,886	)		(6,012	)		(1,454	)
State			(526	)		(1,096	)		(265	)
Foreign			4,240			256			—
			828			(6,852	)		(1,719	)
Total provision		$	19,657		$	27,551		$	31,652

Schedule of significant components of deferred tax assets and liabilities

		September 30,
		2014			2013
		(in thousands)
Deferred tax assets:
Net operating losses—Foreign		$	6,426		$	4,572
Net operating losses—US			1,674			2,107
Accrued vacation and bonus			2,040			2,342
Inventory capitalization			7,328			4,048
Inventory reserves			105			565
Allowance for doubtful accounts			291			252
Stock compensation expense			10,259			8,036
Amortization of intangibles			9,071			6,666
Pension liability			790			852
Other			273			352
Total deferred tax assets before valuation allowance			38,257			29,792
Less: valuation allowance			(7,216	)		(5,424	)
Net deferred tax assets			31,041			24,368
Deferred tax liabilities:
Amortization of goodwill			16,022			7,339
Depreciation			754			1,235
Total deferred tax liabilities		$	16,776		$	8,574
Net deferred taxes		$	14,265		$	15,794

Schedule of reconciliation of U.S. federal statutory rate to effective rate for continuing operations

		Year ended September 30,
		2014			2013			2012
U.S. statutory rate			35.0	%		35.0	%		35.0	%
Permanent items			0.5			0.6			—
State taxes			2.7			3.9			3.9
Net foreign rate differential			(2.5	)		(0.7	)		(0.8	)
Change in valuation allowance			3.6			1.3			1.5
Provision for income taxes			39.3	%		40.1	%		39.6	%

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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