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

12 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basic and Diluted EPS

The following presents the calculation of the basic and diluted EPS for the years ended September 30, 2018 and 2017:

		2018												2017
		Net Income				Shares				EPS				Net Income				Shares				EPS
Basic EPS		$	12,564,000				14,492,000			$	0.87			$	8,418,000				14,396,000			$	0.58
Common stock equivalents							231,000												284,000
Diluted EPS		$	12,564,000				14,723,000			$	0.85			$	8,418,000				14,680,000			$	0.57

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, 2018:

		Fair Value Measurements
		Level 1				Level 2				Level 3				Total
Equities		$	11,768,000			$	—			$	—			$	11,768,000
Mutual Funds			3,811,000				—				—				3,811,000
Exchange-Traded Funds			4,148,000				—				—				4,148,000
Corporate Bonds			—				29,884,000				—				29,884,000
Government Securities			53,883,000				—				—				53,883,000
Cash and Money Funds			564,000				—				—				564,000
Total		$	74,174,000			$	29,884,000			$	—			$	104,058,000

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

Schedule of Changes in Allowance for Slow Moving and Obsolete Inventories

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

		2018				2017
Balance, beginning of year		$	3,826,000			$	3,869,000
Charged to cost of sales			262,000				77,000
Disposal of inventory, net of recoveries			(315,000	)			(120,000	)
Balance, end of year		$	3,773,000			$	3,826,000

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 & 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:

		2018				2017
Balance, beginning of year		$	412,000			$	401,000
Warranties issued			225,000				400,000
Warranties settled			(237,000	)			(389,000	)
Balance, end of year		$	400,000			$	412,000

Schedule of Changes in Allowance for Doubtful Accounts

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

		2018				2017
Balance, beginning of year		$	207,000			$	195,000
Provision for doubtful accounts			210,000				115,000
Provision for estimated returns and allowances			265,000				385,000
Uncollectible accounts written-off			(76,000	)			(16,000	)
Returns and allowances issued			(293,000	)			(472,000	)
Balance, end of year		$	313,000			$	207,000

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