Income Taxes (Tables)

12 Months Ended

Sep. 30, 2013

Income Taxes

Schedule of components of the provision for income taxes of continuing operations

	Year ended September 30,
	2013			2012			2011
	(in thousands)
Current tax provision:
U.S. Federal	$	27,611		$	28,124		$	13,019
State		5,035			5,129			2,374
Foreign		1,757			118			—
		34,403			33,371			15,393
Deferred tax (benefit) expense:
U.S. Federal		(6,012	)		(1,454	)		(194	)
State		(1,096	)		(265	)		260
Foreign		256			—			—
		(6,852	)		(1,719	)		66
Total provision	$	27,551		$	31,652		$	15,459

Schedule of significant components of deferred tax assets and liabilities

	September 30,
	2013			2012
	(in thousands)
Deferred tax assets:
Net operating losses—Foreign	$	4,572		$	3,170
Net operating losses—US		2,107			2,541
Accrued vacation and bonus		2,342			1,360
Inventory capitalization		4,048			2,815
Inventory reserves		565			—
Allowance for doubtful accounts		252			336
Stock compensation expense		8,036			5,134
Amortization of intangibles		6,609			3,560
Foreign deferred tax assets		909			1,389
Other		352			282
Total deferred tax assets before valuation allowance		29,792			20,587
Less: valuation allowance		(5,424	)		(4,558	)
Net deferred tax assets		24,368			16,029
Deferred tax liabilities:
Amortization of goodwill and intangibles		7,025			2,644
Depreciation		1,235			1,936
Foreign deferred tax liabilities		314			—
Total deferred tax liabilities	$	8,574		$	4,580
Net deferred taxes	$	15,794		$	11,449

Schedule of reconciliation of the U.S. federal statutory rate to the effective rate for continuing operations

	Year ended September 30,
	2013			2012			2011
U.S. statutory rate		35.0	%		35.0	%		35.0	%
Permanent items		0.6			—			3.5
State taxes		3.9			3.9			4.3
Net foreign rate differential		0.6			0.7			—
Provision for income taxes		40.1	%		39.6	%		42.8	%