Note 10 - Property, Plant and Equipment

12 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

10. Property, Plant and Equipment         

At September 30, 2024, the Company’s property located adjacent to its main campus at 7007 Pinemont Drive in Houston, Texas was classified as assets held for sale on the consolidated balance sheet.  The 17.3-acre property serves as additional parking for the main campus and contains legacy structures used to support the Company's manufacturing and warehousing operations.  The carrying value of the property was $1.8 million at September 30, 2024. The Company believes the fair market value of the property exceeds its carrying value. 

In February 2023, the Company sold its satellite property located at 6410 Langfield Road in Houston, Texas for a cash price of $3.7 million, net of closing costs of $0.3 million, and realized a gain on disposal of $1.3 million.  The satellite property provided additional warehousing and maintenance and repair capacity for the Company’s marine rental equipment operations.  The Company has relocated the operations of this facility to its main campus at 7007 Pinemont Drive in Houston, Texas. 

Property, plant and equipment consisted of the following (in thousands):

	AS OF SEPTEMBER 30,
	2024			2023
Land and land improvements	$	4,869		$	7,069
Building and building improvements		21,312			21,931
Machinery and equipment		49,860			48,877
Furniture and fixtures		1,470			1,487
Tools and molds		3,628			3,287
Construction in progress		392			3,343
Transportation equipment		75			74
		81,606			86,068
Accumulated depreciation and impairment		(60,523	)		(62,020	)
	$	21,083		$	24,048

Property, plant and equipment depreciation expense was $3.5 million and $3.7 million for the fiscal years ended September 30, 2024 and 2023.