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

12 Months Ended

Sep. 30, 2021

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, 2021 and 2020:

	2021						2020
	Net Income		Shares		EPS		Net Income		Shares		EPS
Basic EPS	$	5,805,000		14,614,000	$	0.40	$	5,531,000		14,595,000	$	0.38
Common stock equivalents				116,000						125,000
Diluted EPS	$	5,805,000		14,730,000	$	0.39	$	5,531,000		14,720,000	$	0.38

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, 2021:

	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Equities	$	14,734,000	$	—	$	—	$	14,734,000
Mutual Funds		10,357,000		—		—		10,357,000
Exchange-Traded Funds		9,458,000		—		—		9,458,000
Corporate Bonds		—		24,853,000		—		24,853,000
Government Securities		30,999,000		—		—		30,999,000
Cash and Money Funds		4,575,000		—		—		4,575,000
Total	$	70,123,000	$	24,853,000	$	—	$	94,976,000

The following table sets forth by level, within the fair value hierarchy, the Company’s assets measured at fair value as of September 30, 2020:

	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Equities	$	11,949,000	$	—	$	—	$	11,949,000
Mutual Funds		9,595,000		—		—		9,595,000
Exchange-Traded Funds		10,344,000		—		—		10,344,000
Corporate Bonds		—		27,877,000		—		27,877,000
Government Securities		16,147,000		—		—		16,147,000
Cash and Money Funds		13,586,000		—		—		13,586,000
Total	$	61,621,000	$	27,877,000	$	—	$	89,498,000

Schedule of Changes in Allowance for Slow Moving and Obsolete Inventories

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

	2021			2020
Balance, beginning of year	$	4,617,000		$	4,700,000
Charged to cost of sales		1,355,000			401,000
Disposal of inventory, net of recoveries		(575,000	)		(484,000	)
Balance, end of year	$	5,397,000		$	4,617,000

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, 2021 and 2020:

	2021		2020
Equipment sales recognized over time	$	24,093,000	$	35,579,000
Equipment sales recognized at a point in time		36,671,000		23,642,000
Parts and component sales		21,017,000		13,896,000
Freight revenue		3,497,000		3,983,000
Other		—		320,000
Net revenue	$	85,278,000	$	77,420,000

Schedule of Changes in Accrual for Warranty and Related Costs

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

	2021			2020
Balance, beginning of year	$	299,000		$	277,000
Warranties issued		280,000			375,000
Warranties settled		(288,000	)		(353,000	)
Balance, end of year		291,000		$	299,000

Schedule of Changes in Allowance for Doubtful Accounts

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

	2021			2020
Balance, beginning of year	$	442,000		$	459,000
Provision for doubtful accounts		50,000			50,000
Provision for estimated returns and allowances		175,000			205,000
Uncollectible accounts written off		(60,000	)		(5,000	)
Returns and allowances issued		(286,000	)		(267,000	)
Balance, end of year	$	321,000		$	442,000