XML 37 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended
Sep. 30, 2013
Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 5,858,672 $ 7,367,562
Adjustments to reconcile income from operations to net cash flows from operating activities:    
Depreciation 2,047,613 2,017,726
Amortization 365,000 374,688
Gain on sale of property and equipment (56,829) (36,900)
Equity-based compensation 1,303,310 1,426,848
Deferred income taxes (221,694) 681,422
Recoveries of losses on doubtful accounts (55,000) (5,243)
Recoveries for losses on inventory obsolescence (91,494) (20,512)
Other (93,328) (8,045)
Changes in assets and liabilities:    
Accounts receivable 4,353,630 287,101
Inventories (7,669,072) 103,873
Prepaid and other current assets 1,474,710 (403,166)
Other assets 232 (20,160)
Accounts payable (1,391,539) (1,250,790)
Accrued expenses and accrued wages, salaries and bonuses 181,294 (710,302)
Income taxes payable (272,615) 94,786
Net cash flows from operating activities 5,732,890 9,898,888
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (2,113,426) (1,480,782)
Proceeds from sales of property and equipment 179,662 129,834
Net cash flows from investing activities (1,933,764) (1,350,948)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net borrowings (payments) on bank credit agreements 487,980 (6,417,881)
Principal payments on long-term debt (1,182,829) (1,320,311)
Repurchase of Series B Convertible Preferred Stock and common stock (2,572,085) (918,000)
Dividends paid on convertible preferred stock (205,218) (269,095)
Dividends on common stock (469,895) (470,659)
Proceeds from exercise of stock options 1,180 1,180
Withholdings on the exercise of equity-based awards (74,610) (51,452)
Net cash flow from financing activities (4,015,477) (9,446,218)
Net change in cash (216,351) (898,278)
Cash, beginning of year 491,387 1,389,665
Cash, end of year 275,036 491,387
Supplemental disclosure of cash flow information:    
Cash paid during the year for interest 1,115,991 1,393,470
Cash paid during the year for income taxes 4,867,986 4,256,794
Supplemental disclosure of non-cash information:    
Equipment acquisitions classified as accounts payable 73,204 11,237
Issuance of common stock in connection with the vesting and exercise of equity-based awards 1,389,258 950,562
Conversion by holders of Series B Convertible Preferred Stock to common stock 100,000 100,000
Common stock acquired with other consideration $ 760,871