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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]  
Schedule of Disaggregated Revenue

See disaggregated revenues below by products/services and geography.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Technology Solutions Segment

 

 

 

 

High

 

 

 

 

 

 

 

 

 

 

 

 

Performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Products

 

United

 

 

 

 

 

 

 

Consolidated

For the year ended September 30, 

    

Segment

    

Kingdom

    

U.S.

    

Total

    

Total

 

 

(Amounts in thousands)

2019

 

 

 

 

 

 

 

 

 

 

Sales:

 

 

 

 

 

 

 

 

 

 

Product

 

$

6,406

 

$

4,936

 

$

54,540

 

$

59,476

 

$

65,882

Service

 

 

1,496

 

 

380

 

 

11,168

 

 

11,548

 

 

13,044

Finance *

 

 

 

 

 

 

135

 

 

135

 

 

135

Total sales

 

$

7,902

 

$

5,316

 

$

65,843

 

$

71,159

 

$

79,061

*     Finance revenue is related to equipment leasing and is not subject to the guidance on revenue from contracts with customers (ASC 606).

Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

For these contracts the aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied or partially unsatisfied as of September 30, 2019 is mainly related to managed service contracts and is set forth in the table below:

 

 

 

 

 

 

    

(Amounts in thousands)

Fiscal 2020

 

$

2,019

Fiscal 2021

 

 

1,033

Fiscal 2022

 

 

300

Fiscal 2023

 

 

60

 

 

$

3,412

 

Schedule of basic and diluted earnings per share computations

Basic and diluted earnings per share computations for the Company’s reported net income attributable to common stockholders are as follows:

 

 

 

 

 

 

 

 

 

For the years ended

 

 

 

 

 

 

 

 

 

September 30, 2019

    

September 30, 2018

 

 

(Amounts in thousands except per share data)

Loss from continuing operations

 

$

(371)

  

$

(1,988)

Gain from sale of discontinued operations

 

 

 —

  

 

16,838

Loss from discontinued operations

 

 

 —

  

 

(410)

Total income from discontinued operations

 

 

 —

  

 

16,428

Net (loss) income

 

 

(371)

  

 

14,440

Less: net income attributable to nonvested common stock

 

 

 —

  

 

598

Net (loss) income attributable to common stockholders

 

$

(371)

  

$

13,842

 

 

 

 

 

 

 

Weighted average total shares outstanding – basic

 

 

3,924

  

 

3,987

Less: weighted average non–vested shares outstanding

 

 

 —

  

 

165

Weighted average number of common shares outstanding – basic

 

 

3,924

  

 

3,822

Potential common shares from non–vested stock awards and the assumed exercise of stock options

 

 

 —

  

 

79

Weighted average common shares outstanding – diluted

 

 

3,924

  

 

3,901

 

 

 

 

 

 

 

Net loss from continuing operations per share – basic

 

$

(0.09)

  

$

(0.52)

Net income from discontinued operations per share – basic

 

$

 —

  

$

4.30

Net (loss) income share – basic

 

$

(0.09)

  

$

3.62

 

 

 

 

 

 

 

Net (loss) from continuing operations per share – diluted

 

$

(0.09)

  

$

(0.52)

Net income from discontinued operations per share – diluted

 

$

 —

  

$

4.21

Net (loss) income per share – diluted

 

$

(0.09)

  

$

3.55

 

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

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

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended September 30, 2019

 

 

(Amounts in thousands, except per share amounts)

 

 

 

 

 

Balances

 

Effect of

 

 

 

 

 

without

 

change

 

 

As

 

adoption of

 

Higher/

 

    

Reported

    

ASC 606

    

(Lower)

Total sales

 

$

79,061

 

$

78,563

 

$

498

Total cost of sales

 

 

61,035

 

 

60,567

 

 

468

Gross profit

 

 

18,026

 

 

17,996

 

 

30

Operating loss

 

 

(826)

 

 

(856)

 

 

30

Income tax benefit

 

 

(71)

 

 

(76)

 

 

 5

Net loss

 

 

(371)

 

 

(396)

 

 

25

Net loss attributable to common stockholders

 

$

(371)

 

$

(396)

 

$

25

Basic earnings per share

 

$

(0.09)

 

$

(0.10)

 

$

0.01

Diluted earnings per share

 

$

(0.09)

 

$

(0.10)

 

$

0.01

 

 

 

 

 

 

 

 

 

 

 

 

 

As of September 30, 2019

 

 

(Amounts in thousands)

 

 

 

 

 

Balances

 

Effect of

 

 

 

 

 

without

 

change

 

 

As

 

adoption of

 

Higher/

 

    

Reported

    

ASC 606

    

(Lower)

Assets:

 

 

 

 

 

 

Accounts receivable

 

$

15,114

 

$

14,929

 

$

185

Unbilled accounts receivable

 

 

 —

 

 

565

 

 

(565)

Inventories

 

 

7,818

 

 

8,484

 

 

(666)

Other current assets

 

 

4,649

 

 

4,069

 

 

580

Deferred tax asset

 

 

1,946

 

 

2,000

 

 

(54)

Liabilities:

 

 

 

 

 

 

 

 

 

Deferred revenue

 

$

741

 

$

1,444

 

$

(703)

Shareholders' Equity:

 

 

 

 

 

 

 

 

 

Retained Earnings

 

$

27,246

 

$

27,063

 

$

183