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Recent Accounting Pronouncements (Tables)

9 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The effects of ASC 606 adoption for the Company for the condensed consolidated statements of operations and balance sheet are as follows:

		Three months ended June 30, 2019
		(Amounts in thousands, except per share amounts)
					Balances			Effect of
					without			change
		As			adoption of			Higher/
		Reported			ASC 606			(Lower)
Total sales		$	21,570		$	21,071		$	499
Total cost of sales			16,731			16,284			447
Gross profit			4,839			4,787			52
Operating income			145			93			52
Income tax benefit			(326)			(351)			25
Net income			532			505			27
Net income attributable to common stockholders		$	509		$	505		$	4
Basic earnings per share		$	0.13		$	0.13		$	—
Diluted earnings per share		$	0.12		$	0.12		$	—

		Nine months ended June 30, 2019
		(Amounts in thousands, except per share amounts)
					Balances			Effect of
					without			change
		As			adoption of			Higher/
		Reported			ASC 606			(Lower)
Total sales		$	56,900		$	56,302		$	598
Total cost of sales			43,966			43,387			579
Gross profit			12,934			12,915			19
Operating loss			(611)			(630)			19
Income tax benefit			(466)			(484)			18
Net loss			(37)			(38)			1
Net loss attributable to common stockholders		$	(37)		$	(38)		$	1
Basic earnings per share		$	(0.01)		$	(0.01)		$	—
Diluted earnings per share		$	(0.01)		$	(0.01)		$	—

		As of June 30, 2019
		(Amounts in thousands)
					Balances			Effect of
					without			change
		As			adoption of			Higher/
		Reported			ASC 606			(Lower)
Assets:
Accounts receivable		$	16,645		$	16,475		$	170
Unbilled accounts receivable			—			588			(588)
Inventories			9,868			10,639			(771)
Other current assets			3,719			3,125			594
Deferred tax asset			1,873			1,914			(41)
Liabilities:
Deferred revenue		$	791		$	1,586		$	(795)
Shareholders' Equity:
Retained Earnings		$	28,203		$	28,044		$	159

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- References

No definition available.

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- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=109236672&loc=d3e765-108305

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22580-107794

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=109236672&loc=d3e725-108305

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

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