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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2020
Mar. 31, 2019
Net sales:        
Total net sales $ 4,835,065 $ 4,203,127 $ 9,346,493 $ 8,180,777
Cost of sales:        
Total cost of sales 2,539,894 1,856,921 4,449,675 3,668,768
Gross profit 2,295,171 2,346,206 4,896,818 4,512,009
Operating expenses:        
Research and development 712,019 648,482 1,378,634 1,244,854
Selling, general and administrative 1,531,389 1,524,657 3,234,663 2,998,073
Total operating expenses 2,243,408 2,173,139 4,613,297 4,242,927
Operating income 51,763 173,067 283,521 269,082
Interest income 65,721 26,480 144,591 48,032
Other income 11,219 10,746 28,499 32,600
Income before income taxes 128,703 210,293 456,611 349,714
Income tax (benefit) expense (309,402) 7,794 (309,402) 7,794
Net income $ 438,105 $ 202,499 $ 766,013 $ 341,920
Net income per common share:        
Basic (in dollars per share) $ 0.03 $ 0.01 $ 0.05 $ 0.02
Diluted (in dollars per share) $ 0.03 $ 0.01 $ 0.04 $ 0.02
Weighted average shares outstanding:        
Basic (in shares) 16,931,138 16,860,568 16,920,087 16,850,584
Diluted (in shares) 17,123,388 16,875,720 17,102,483 16,858,160
Product        
Net sales:        
Total net sales $ 4,645,682 $ 3,706,910 $ 9,104,376 $ 7,482,419
Cost of sales:        
Total cost of sales 2,464,697 1,567,861 4,309,177 3,291,142
Engineering development contracts        
Net sales:        
Total net sales 189,383 496,217 242,117 698,358
Cost of sales:        
Total cost of sales $ 75,197 $ 289,060 $ 140,498 $ 377,626