Nature of Operations and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The following presents the calculation of the basic and diluted EPS for the years ended September 30, 2017, 2016 and 2015:


	2017						2016						2015
	Net Income		Shares		EPS		Net Income		Shares		EPS		Net Loss			Shares		EPS
Basic EPS	$	8,418,000		14,396,000	$	0.58	$	7,043,000		14,334,000	$	0.49	$	(1,819,000	)		14,283,000	$	(0.13	)
Common stock equivalents				284,000						190,000							—

Diluted EPS	$	8,418,000		14,680,000	$	0.57	$	7,043,000		14,524,000	$	0.48	$	(1,819,000	)		14,283,000	$	(0.13	)

Company's Assets Measured at Fair Value

The following table sets forth by level, within the fair value hierarchy, the Company’s assets measured at fair value as of September 30, 2017:


	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Equities	$	11,338,000	$	—	$	—	$	11,338,000
Mutual Funds		7,155,000		—		—		7,155,000
Exchange-Traded Funds		3,417,000		—		—		3,417,000
Corporate Bonds		—		7,196,000		—		7,196,000
Government Securities		54,542,000		—		—		54,542,000
Cash and Money Funds		4,238,000		—		—		4,238,000

Total	$	80,690,000	$	7,196,000	$	—	$	87,886,000

Net unrealized gains reported during fiscal 2017 on trading securities still held as of September 30, 2017, were $1,183,000. There were no transfers of investments between Level 1 and Level 2 during the year ended September 30, 2017.

The following table sets forth by level, within the fair value hierarchy, the Company’s assets measured at fair value as of September 30, 2016:


	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Equities	$	2,408,000	$	—	$	—	$	2,408,000
Mutual Funds		5,212,000		—		—		5,212,000
Exchange-Traded Funds		510,000		—		—		510,000
Government Securities		69,583,000		—		—		69,583,000
Cash and Money Funds		8,225,000		—		—		8,225,000

Total	$	85,938,000	$	—	$	—	$	85,938,000

Schedule of Changes in Allowance for Slow Move and Obsolete Inventories

Changes in the allowance for slow move and obsolete inventories are as follows:


	2017			2016			2015
Balance, beginning of year	$	3,869,000		$	3,310,000		$	3,139,000
Charged to cost of sales		77,000			621,000			144,000
Disposal of inventory, net of recoveries		(120,000	)		(62,000	)		27,000

Balance, end of year	$	3,826,000		$	3,869,000		$	3,310,000

Estimated Useful Lives of Assets

Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the related assets, as follows:


	Years
Land improvements		15
Buildings and improvements		6-40
Equipment		2-10

Schedule of Changes in Accrual for Warranty and Related Costs

Changes in the accrual for warranty and related costs are composed of the following:


	2017			2016			2015
Balance, beginning of year	$	401,000		$	205,000		$	367,000
Warranties issued		400,000			475,000			20,000
Warranties settled		(389,000	)		(279,000	)		(182,000	)

Balance, end of year	$	412,000		$	401,000		$	205,000

Schedule of Changes in Allowance for Doubtful Accounts

Changes in the allowance for doubtful accounts are composed of the following:


	2017			2016			2015
Balance, beginning of year	$	195,000		$	357,000		$	244,000
Provision for doubtful accounts		115,000			105,000			60,000
Provision for estimated returns and allowances		385,000			175,000			170,000
Uncollectible accounts written-off		(16,000	)		(89,000	)		(46,000	)
Returns and allowances issued		(472,000	)		(353,000	)		(71,000	)

Balance, end of year	$	207,000		$	195,000		$	357,000

Revenues and Long-Term Assets Information Concerning Principal Geographic Areas

Information concerning principal geographic areas is as follows:


	2017				2016				2015
	Revenues		Long-Term Assets		Revenues		Long-Term Assets		Revenues		Long-Term Assets
United States	$	80,608,000	$	5,775,000	$	69,991,000	$	5,292,000	$	39,230,000	$	7,778,000
Other		—		—		—		—		—		—

Total	$	80,608,000	$	5,775,000	$	69,991,000	$	5,292,000	$	39,230,000	$	7,778,000