Equity and Stock-Based Compensation (Tables)

12 Months Ended

Sep. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-based compensation plans

compensation plans as of September 30, 2018 are summarized in the table below:

Name of Plan	Shares Authorized	Shares Available	Options Outstanding	Plan Expiration
2007 Employee Stock Incentive Plan	3,000,000	739,561	1,042,407	Mar. 2020
Non-Employee Directors Stock Option Plan	500,000	88,600	206,351	Mar. 2020
		828,161	1,248,758

Schedule of stock option valuation assumptions

We estimate the fair value of stock option awards on the date of grant using the Black-Scholes option pricing model using the following assumptions: 

	Years Ended September 30,
	2018	2017	2016
Risk free interest rate	3%	2%	2%
Expected life	6 years	6 years	6 years
Dividend rate	0%	0%	0%
Volatility	59%	63%	63%

Stock option transactions and the options outstanding

Stock option transactions and the options outstanding are summarized as follows:

	Years Ended September 30,
	2018					2017					2016
	Options			Weighted Average Exercise Price		Options			Weighted Average Exercise Price		Options			Weighted Average Exercise Price
Outstanding at beginning of period	1,560,441			$	7.95	1,841,567			$	8.15	1,627,477			$	9.11
Granted	44,000			7.40		145,000			5.23		360,075			5.25
Exercised	(277,154		)	6.71		(317,986		)	6.30		(15,346		)	3.28
Forfeited/expired	(78,529		)	16.12		(108,140		)	12.71		(130,639		)	12.86
Outstanding at end of period	1,248,758			$	7.69	1,560,441			$	7.95	1,841,567			$	8.15
Exercisable at end of period	1,014,300			$	7.93	1,055,865			$	8.58	1,127,611			$	8.92
Weighted average grant-date fair value of options granted during the period	$	4.20				$	3.04				$	3.03

Stock options outstanding and exercisable

The following table summarizes information for stock options outstanding and exercisable as of September 30, 2018:

	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding	Remaining Contractual Life	Weighted Average Exercise Price Per Share		Number Exercisable	Weighted Average Exercise Price Per Share
		(in years)
2.95-5.07	173,154	5.76	$	3.99	112,321	$	3.45
5.20-5.20	990	0.96	5.20		990	5.20
5.25-5.25	204,524	6.93	5.25		137,024	5.25
5.40-6.15	79,319	4.95	5.91		71,819	5.93
7.01-7.01	160,225	4.74	7.01		160,225	7.01
7.15-7.87	68,315	7.19	7.50		24,315	7.69
7.98-7.98	186,533	3.05	7.98		186,533	7.98
8.20-9.94	21,191	3.21	9.31		17,441	9.55
9.98-9.98	228,300	5.81	9.98		177,425	9.98
10.50-22.26	126,207	2.12	13.99		126,207	13.99
	1,248,758	5.03	$	7.69	1,014,300	$	7.93