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Summary of Significant Accounting Policies (Tables) | 3 Months Ended
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Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Components of Deferred Profit | The components of deferred profit are as follows:
| December 31, 2016 |  | September 30, 2016
| (dollars in thousands)
Deferred revenues | $ | 8,164 |  |  | $ | 7,029 |
Deferred costs | 4,352 |  |  | 2,320 |
Deferred profit | $ | 3,812 |  |  | $ | 4,709 |
Schedule of Inventory | The components of inventories are as follows:
| December 31, 2016 |  | September 30, 2016
| (dollars in thousands)
Purchased parts and raw materials | $ | 12,148 |  |  | $ | 12,435 |
Work-in-process | 5,832 |  |  | 7,044 |
Finished goods | 2,873 |  |  | 3,744 |
| $ | 20,853 |  |  | $ | 23,223 |
Property, Plant and Equipment | The following is a summary of property, plant and equipment:
| December 31, 2016 |  | September 30, 2016
| (dollars in thousands)
Land, building and leasehold improvements | $ | 17,799 |  |  | $ | 18,255 |
Equipment and machinery | 8,749 |  |  | 9,056 |
Furniture and fixtures | 5,199 |  |  | 5,426 |
| 31,747 |  |  | 32,737 |
Accumulated depreciation and amortization | (16,457 | ) |  | (16,777 | )
| $ | 15,290 |  |  | $ | 15,960 |
Activity in Goodwill | The following is a summary of activity in goodwill:
| Solar |  | Semiconductor |  | Polishing |  | Total
| (dollars in thousands)
Goodwill | $ | 6,597 |  |  | $ | 5,063 |  |  | $ | 728 |  |  | $ | 12,388 |
Accumulated impairment losses | (1,269 | ) |  | — |  |  | — |  |  | (1,269 | )
Carrying value at September 30, 2016 | 5,328 |  |  | 5,063 |  |  | 728 |  |  | 11,119 |
Net foreign exchange differences | (330 | ) |  | — |  |  | — |  |  | (330 | )
Carrying value at December 31, 2016 | $ | 4,998 |  |  | $ | 5,063 |  |  | $ | 728 |  |  | $ | 10,789 |
Goodwill | $ | 6,177 |  |  | $ | 5,063 |  |  | $ | 728 |  |  | $ | 11,968 |
Accumulated impairment losses | (1,179 | ) |  | — |  |  | — |  |  | (1,179 | )
Carrying value at December 31, 2016 | $ | 4,998 |  |  | $ | 5,063 |  |  | $ | 728 |  |  | $ | 10,789 |
Summary of Intangibles | The following is a summary of intangibles:
| Useful Life |  | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount |  | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount
|  |  | December 31, 2016 |  | September 30, 2016
|  |  | (dollars in thousands)
Customer lists | 6-10 years |  | $ | 2,387 |  | $ | (1,172 | ) | $ | 1,215 |  |  | $ | 2,432 |  | $ | (1,164 | ) | $ | 1,268 |
Technology | 5-10 years |  | 3,014 |  | (1,576 | ) | 1,438 |  |  | 3,214 |  | (1,678 | ) | 1,536 |
Trade names | 10-15 years |  | 1,441 |  | (200 | ) | 1,241 |  |  | 1,455 |  | (219 | ) | 1,236 |
Other | 2-10 years |  | 260 |  | (239 | ) | 21 |  |  | 277 |  | (217 | ) | 60 |
|  |  | $ | 7,102 |  | $ | (3,187 | ) | $ | 3,915 |  |  | $ | 7,378 |  | $ | (3,278 | ) | $ | 4,100 |
Summary of Activity in Accrued Warranty Expense | The following is a summary of activity in accrued warranty expense:
| Three Months Ended December 31,
| 2016 |  | 2015
| (dollars in thousands)
Beginning balance | $ | 795 |  |  | $ | 793 |
Additions for warranties issued during the period | 383 |  |  | 146 |
Reductions in the liability for payments made under the warranty | (27 | ) |  | (109 | )
Changes related to pre-existing warranties | (245 | ) |  | (54 | )
Currency translation adjustment | (27 | ) |  | (10 | )
Ending balance | $ | 879 |  |  | $ | 766 |
Effects of Share-based Compensation Expense | Stock-based compensation expense reduced the Company’s results of operations by the following amounts:
|  | Three Months Ended December 31,
|  | 2016 |  | 2015
|  | (dollars in thousands)
Effect on income before income taxes (1) |  | $ | (319 | ) |  | $ | (342 | )
Effect on income taxes |  | 35 |  |  | 48 |
Effect on net income |  | $ | (284 | ) |  | $ | (294 | )
(1) | Stock-based compensation expense is included in selling, general and administrative expenses.
Stock Option Transactions and Options Outstanding | Stock option transactions and the options outstanding are summarized as follows:
| Three Months Ended December 31,
| 2016 |  | 2015
| Options |  | Weighted Average Exercise Price |  | Options |  | Weighted Average Exercise Price
Outstanding at beginning of period | 1,841,567 |  |  | $ | 8.15 |  |  | 1,627,477 |  |  | $ | 9.11 |
Granted | 100,000 |  |  | 4.99 |  |  | 344,075 |  |  | 5.25 |
Exercised | (180 | ) |  | 3.80 |  |  | — |  |  | — |
Forfeited | (55,446 | ) |  | 13.34 |  |  | (33,642 | ) |  | 14.90 |
Outstanding at end of period | 1,885,941 |  |  | $ | 7.84 |  |  | 1,937,910 |  |  | $ | 8.34 |
Exercisable at end of period | 1,375,174 |  |  | $ | 8.26 |  |  | 1,189,855 |  |  | $ | 9.21 |
Weighted average fair value of options granted during the period | $ | 2.88 |  |  |  |  | $ | 3.03 |  |  |
Options Fair Value Assumptions | The fair value of options was estimated at the applicable grant date using the Black-Scholes option pricing model with the following assumptions:
| Three Months Ended December 31,
| 2016 |  | 2015
Risk free interest rate | 2% |  | 2%
Expected life | 6 years |  | 6 years
Dividend rate | 0% |  | 0%
Volatility | 62% |  | 62%
Restricted Stock Transactions and Awards Outstanding | Restricted stock transactions and awards outstanding are summarized as follows:
| Three Months Ended December 31,
| 2016 |  | 2015
| Awards |  | Weighted Average Grant Date Fair Value |  | Awards |  | Weighted Average Grant Date Fair Value
Beginning Outstanding | — |  |  | $ | — |  |  | 13,540 |  |  | $ | 7.98 |
Released | — |  |  | — |  |  | (13,540 | ) |  | 7.98 |
Ending Outstanding | — |  |  | $ | — |  |  | — |  |  | $ | — |
Research and Development Expense and Grants Earned | The table below shows gross research and development expenses and grants earned:
|  | Three Months Ended
|  | December 31, 2016 |  | December 31, 2015
|  | (dollars in thousands)
Research, development and engineering |  | $ | 1,830 |  |  | $ | 2,615 |
Grants earned |  | (203 | ) |  | (327 | )
Net research, development and engineering |  | $ | 1,627 |  |  | $ | 2,288 |

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