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Income Taxes (Tables)

12 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Provision for Income Tax Expense (Benefit)

The provision for income tax expense (benefit) consists of:

		Years Ended September 30,
		2015				2014
Current:
Federal		$	261,000			$	667,000
State			37,000				65,000
Total current			298,000				732,000
Deferred:
Federal			(1,871,000	)			190,000
State			(154,000	)			18,000
Total deferred			(2,025,000	)			208,000
Income tax expense (benefit)		$	(1,727,000	)		$	940,000

Reconciliation of the Federal Statutory Tax Rate to the Total Tax Provision

A reconciliation of the federal statutory tax rate to the total tax provision is as follows:

		Years Ended September 30,
		2015				2014
Federal income taxes computed at the statutory rate			(34.0	%)			34.0	%
State income taxes, net of federal benefit			(3.3	%)			3.3	%
Research & development tax refunds & credits			(5.2	%)			(5.6	%)
Dividend received deduction			—				(6.1	%)
Domestic international sales corporation benefits			(5.8	%)			(4.2	%)
Other, net			(0.4	%)			(0.1	%)
Effective income tax rate			(48.7	%)			21.3	%

Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities consist of the following:

		September 30,
		2015				2014
Deferred Tax Assets:
Accrued liabilities and reserves		$	255,000			$	288,000
Allowance for doubtful accounts			133,000				91,000
Inventory			—				186,000
R&D tax credits carryforwards			1,114,000				671,000
Stock-based compensation			194,000				194,000
Net operating losses carryforwards			48,000				58,000
Unrealized loss on investments			1,023,000				—
Other			14,000				24,000
Gross Deferred Tax Assets			2,781,000				1,512,000
Deferred and Other Tax Liabilities:
Unrealized gain on investments			—				(798,000	)
Inventory			(43,000	)			—
Percentage of completion			(415,000	)			(104,000	)
Property and equipment			(806,000	)			(964,000	)
Unrecognized tax benefits			(150,000	)			(300,000	)
Other			(36,000	)			(39,000	)
Gross Deferred and Other Tax Liabilities			(1,450,000	)			(2,205,000	)
Net Deferred and Other Income Tax Assets (Liabilities)		$	1,331,000			$	(693,000	)

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- References

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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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- Definition

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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