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Income Taxes (Tables)

12 Months Ended

Sep. 30, 2018

Income Tax Disclosure [Abstract]

Components of Income Taxes Provision (Benefit)

The components of our provision (benefit) from income taxes consisted of the following for the fiscal years ended September 30,

		2016				2017				2018
		(Amounts in thousands)
Current provision (benefit):
Federal		$	496			$	2,321			$	8,055
State			73				(366	)			195
Total current provision		$	569			$	1,955			$	8,250
Deferred provision (benefit):
Federal			11,691				10,190				4,205
State			(52	)			2,116				1,513
Total deferred provision			11,639				12,306				5,718
Total income tax provision		$	12,208			$	14,261			$	13,968

Summary of Tax Rates

Below is a reconciliation of the statutory federal income tax rate to our effective tax rate for the fiscal years ended September 30,

		2016				2017				2018
Federal tax provision			35.0	%			35.0	%			24.5	%
State taxes, net of federal effect			3.6	%			4.4	%			4.1	%
Worthless stock deduction			—				(4.8	)%			—
Stock based compensation			(0.5	)%			0.2	%			(2.0	)%
Valuation allowance			(3.2	)%			(0.1	)%			(0.3	)%
Foreign rate differential			0.5	%			2.4	%			—
Effect of Federal Tax Reform			—				—				1.5	%
Other			(0.3	)%			0.6	%			(1.6	)%
Effective tax rate			35.1	%			37.7	%			26.2	%

Components of Deferred Tax Assets

Deferred income taxes reflect the impact of temporary differences between the amount of assets and liabilities recognized for financial reporting purposes and such amounts recognized for income tax purposes.  The tax effects of these temporary differences representing the components of deferred tax assets as of September 30,

		2017				2018
		(Amounts in thousands)
Deferred tax assets:
Inventories		$	1,028			$	588
Accrued expenses			521				644
Stock based compensation			4,121				2,258
Tax loss carryforwards			3,901				3,910
Other			593				580
Valuation allowance			(246	)			(119	)
Total long-term deferred tax assets			9,918				7,861
Deferred tax liabilities:
Depreciation and amortization			(1,149	)			(4,453	)
Total long-term deferred tax liabilities		$	(1,149	)		$	(4,453	)
Net deferred tax assets		$	8,769			$	3,408

Summary of Reconciliation of Unrecognized Tax Benefits

The reconciliation of the total amount recorded for unrecognized tax benefits at the beginning and end of the fiscal years ended September 30, 2017 and 2018 is as follows:

		2017				2018
		(Amounts in thousands)
Unrecognized tax benefits at the beginning of the year		$	254			$	-
Increases in tax positions for prior years			10				-
Decreases in tax positions for prior years			(264	)			-
Unrecognized tax benefits at the end of the year		$	-			$	-

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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.

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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.

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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.

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Tabular disclosure of the change in unrecognized tax benefits.

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