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Nature of Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Sep. 30, 2021
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, 2021 and 2020:
|  | 2021 |  |  | 2020 |
|  | Net Income |  |  | Shares |  |  | EPS |  |  | Net Income |  |  | Shares |  |  | EPS |
Basic EPS |  | $ | 5,805,000 |  |  |  | 14,614,000 |  |  | $ | 0.40 |  |  | $ | 5,531,000 |  |  |  | 14,595,000 |  |  | $ | 0.38 |
Common stock equivalents |  |  |  |  |  |  | 116,000 |  |  |  |  |  |  |  |  |  |  |  | 125,000 |  |  |  |  |
Diluted EPS |  | $ | 5,805,000 |  |  |  | 14,730,000 |  |  | $ | 0.39 |  |  | $ | 5,531,000 |  |  |  | 14,720,000 |  |  | $ | 0.38 |
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 Sept e mber 30, 2021:
|  | Fair Value Measurements |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Equities |  | $ | 14,734,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 14,734,000 |
Mutual Funds |  |  | 10,357,000 |  |  |  | — |  |  |  | — |  |  |  | 10,357,000 |
Exchange-Traded Funds |  |  | 9,458,000 |  |  |  | — |  |  |  | — |  |  |  | 9,458,000 |
Corporate Bonds |  |  | — |  |  |  | 24,853,000 |  |  |  | — |  |  |  | 24,853,000 |
Government Securities |  |  | 30,999,000 |  |  |  | — |  |  |  | — |  |  |  | 30,999,000 |
Cash and Money Funds |  |  | 4,575,000 |  |  |  | — |  |  |  | — |  |  |  | 4,575,000 |
Total |  | $ | 70,123,000 |  |  | $ | 24,853,000 |  |  | $ | — |  |  | $ | 94,976,000 |
The following table sets forth by level, within the fair value hierarchy, the Company’s assets measured at fair value as of September 30, 2020:
|  | Fair Value Measurements |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Equities |  | $ | 11,949,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 11,949,000 |
Mutual Funds |  |  | 9,595,000 |  |  |  | — |  |  |  | — |  |  |  | 9,595,000 |
Exchange-Traded Funds |  |  | 10,344,000 |  |  |  | — |  |  |  | — |  |  |  | 10,344,000 |
Corporate Bonds |  |  | — |  |  |  | 27,877,000 |  |  |  | — |  |  |  | 27,877,000 |
Government Securities |  |  | 16,147,000 |  |  |  | — |  |  |  | — |  |  |  | 16,147,000 |
Cash and Money Funds |  |  | 13,586,000 |  |  |  | — |  |  |  | — |  |  |  | 13,586,000 |
Total |  | $ | 61,621,000 |  |  | $ | 27,877,000 |  |  | $ | — |  |  | $ | 89,498,000 |
Schedule of Changes in Allowance for Slow Moving and Obsolete Inventories | Changes in the allowance for slow-moving and obsolete inventories are as follows:
|  | 2021 |  |  | 2020 |
Balance, beginning of year |  | $ | 4,617,000 |  |  | $ | 4,700,000 |
Charged to cost of sales |  |  | 1,355,000 |  |  |  | 401,000 |
Disposal of inventory, net of recoveries |  |  | (575,000 | ) |  |  | (484,000 | )
Balance, end of year |  | $ | 5,397,000 |  |  | $ | 4,617,000 |
Estimated Useful Lives of Assets | Property and equipment are stated at cost (see Note 4). 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
Disaggregation of Company's Net Revenue by Major Source | The following table disaggregates the Company’s net revenue by major source for the years ended September 30, 2021 and 2020:
|  | 2021 |  |  | 2020 |
Equipment sales recognized over time |  | $ | 24,093,000 |  |  | $ | 35,579,000 |
Equipment sales recognized at a point in time |  |  | 36,671,000 |  |  |  | 23,642,000 |
Parts and component sales |  |  | 21,017,000 |  |  |  | 13,896,000 |
Freight revenue |  |  | 3,497,000 |  |  |  | 3,983,000 |
Other |  |  | — |  |  |  | 320,000 |
Net revenue |  | $ | 85,278,000 |  |  | $ | 77,420,000 |
Schedule of Changes in Accrual for Warranty and Related Costs | Changes in the accrual for warranty and related costs are composed of the following:
|  | 2021 |  |  | 2020 |
Balance, beginning of year |  | $ | 299,000 |  |  | $ | 277,000 |
Warranties issued |  |  | 280,000 |  |  |  | 375,000 |
Warranties settled |  |  | (288,000 | ) |  |  | (353,000 | )
Balance, end of year |  |  | 291,000 |  |  | $ | 299,000 |
Schedule of Changes in Allowance for Doubtful Accounts | Changes in the allowance for doubtful accounts are composed of the following:
|  | 2021 |  |  | 2020 |
Balance, beginning of year |  | $ | 442,000 |  |  | $ | 459,000 |
Provision for doubtful accounts |  |  | 50,000 |  |  |  | 50,000 |
Provision for estimated returns and allowances |  |  | 175,000 |  |  |  | 205,000 |
Uncollectible accounts written off |  |  | (60,000 | ) |  |  | (5,000 | )
Returns and allowances issued |  |  | (286,000 | ) |  |  | (267,000 | )
Balance, end of year |  | $ | 321,000 |  |  | $ | 442,000 |

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