Nature of Operations and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basic and Diluted EPS

The following presents the calculation of the basic and diluted EPS for the years ended September 30, 2019 and 2018:

	2019						2018 (as adjusted)
	Net Income		Shares		EPS		Net Income		Shares		EPS
Basic EPS	$	10,196,000		14,551,000	$	0.70	$	12,694,000		14,492,000	$	0.88
Common stock equivalents				157,000						231,000
Diluted EPS	$	10,196,000		14,708,000	$	0.69	$	12,694,000		14,723,000	$	0.86

Company's Assets Measured at Fair Value

The following table sets forth by level, within the fair value hierarchy, the Company’s assets measured at fair value as of September 30, 2019:

	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Equities	$	10,412,000	$	—	$	—	$	10,412,000
Mutual Funds		3,987,000		—		—		3,987,000
Exchange-Traded Funds		5,163,000		—		—		5,163,000
Corporate Bonds		—		38,690,000		—		38,690,000
Government Securities		45,171,000		—		—		45,171,000
Cash and Money Funds		1,899,000		—		—		1,899,000
Total	$	66,632,000	$	38,690,000	$	—	$	105,322,000

The following table sets forth by level, within the fair value hierarchy, the Company’s assets measured at fair value as of September 30, 2018:

	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Equities	$	11,768,000	$	—	$	—	$	11,768,000
Mutual Funds		3,811,000		—		—		3,811,000
Exchange-Traded Funds		4,148,000		—		—		4,148,000
Corporate Bonds		—		29,884,000		—		29,884,000
Government Securities		53,883,000		—		—		53,883,000
Cash and Money Funds		564,000		—		—		564,000
Total	$	74,174,000	$	29,884,000	$	—	$	104,058,000

Schedule of Changes in Allowance for Slow Moving and Obsolete Inventories

Changes in the allowance for slow-moving and obsolete inventories are as follows:

	2019			2018
				(as adjusted)
Balance, beginning of year	$	4,543,000		$	4,575,000
Charged to cost of sales		304,000			283,000
Disposal of inventory, net of recoveries		(147,000	)		(315,000	)
Balance, end of year	$	4,700,000		$	4,543,000

Estimated Useful Lives of Assets

Property and equipment are stated at cost (see Note 4). Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the related assets, as follows:

	Years
Land improvements		15
Buildings & improvements		6-40
Equipment		2-10

Disaggregation of Company's Net Revenue by Major Source

The following table disaggregates the Company’s net revenue by major source for the years ended September 30, 2019 and 2018:

	2019		2018
Equipment sales recognized over time	$	43,489,000	$	70,836,000
Equipment sales recognized at a point in time		19,987,000		11,521,000
Parts and component sales		13,356,000		11,580,000
Freight revenue		4,130,000		4,474,000
Other		367,000		203,000
Net revenue	$	81,329,000	$	98,614,000

Schedule of Changes in Accrual for Warranty and Related Costs

Changes in the accrual for warranty and related costs are composed of the following:

	2019			2018
Balance, beginning of year	$	400,000		$	412,000
Warranties issued		140,000			225,000
Warranties settled		(263,000	)		(237,000	)
Balance, end of year	$	277,000		$	400,000

Schedule of Changes in Allowance for Doubtful Accounts

Changes in the allowance for doubtful accounts are composed of the following:

	2019			2018
Balance, beginning of year	$	313,000		$	207,000
Provision for doubtful accounts		175,000			210,000
Provision for estimated returns and allowances		315,000			265,000
Uncollectible accounts writtenoff		(71,000	)		(76,000	)
Returns and allowances issued		(273,000	)		(293,000	)
Balance, end of year	$	459,000		$	313,000