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Selected Quarterly Data (Unaudited) (Tables)
 12 Months Ended
Sep. 30, 2020
Selected Quarterly Financial Information Abstract  
Schedule of Selected Unaudited Consolidated Quarterly Financial Information

 

The following table sets forth selected unaudited consolidated quarterly financial information for the years ended September 30, 2020 and 2019 (in thousands, except percentages and per share amounts):

 

 

 

Fiscal Year 2020

 

 

 

First

Quarter

 

 

Second

Quarter

 

 

Third

Quarter

 

 

Fourth

Quarter

 

Revenue, net of returns and allowances

 

$

20,692

 

 

$

14,460

 

 

$

15,227

 

 

$

15,084

 

Cost of sales

 

 

12,518

 

 

 

9,102

 

 

 

9,276

 

 

 

10,126

 

Gross profit

 

 

8,174

 

 

 

5,358

 

 

 

5,951

 

 

 

4,958

 

Selling, general and administrative

 

 

5,915

 

 

 

5,415

 

 

 

4,804

 

 

 

5,263

 

Research, development and engineering

 

 

622

 

 

 

915

 

 

 

899

 

 

 

876

 

Restructuring charges

 

 

—

 

 

 

—

 

 

 

217

 

 

 

—

 

Operating income (loss)

 

 

1,637

 

 

 

(972

)

 

 

31

 

 

 

(1,181

)

Loss on sale of subsidiary

 

 

(2,793

)

 

 

—

 

 

 

—

 

 

 

—

 

Interest (expense) income and other, net

 

 

(70

)

 

 

595

 

 

 

(13

)

 

 

(350

)

(Loss) income from continuing operations

   before income taxes

 

 

(1,226

)

 

 

(377

)

 

 

18

 

 

 

(1,531

)

Income tax provision

 

 

41

 

 

 

166

 

 

 

90

 

 

 

494

 

Loss from continuing operations, net of tax

 

 

(1,267

)

 

 

(543

)

 

 

(72

)

 

 

(2,025

)

Loss from discontinued operations, net of tax

 

 

(665

)

 

 

(11,151

)

 

 

—

 

 

 

—

 

Net loss

 

$

(1,932

)

 

$

(11,694

)

 

$

(72

)

 

$

(2,025

)

Gross margin

 

 

39.5

%

 

 

37.1

%

 

 

39.1

%

 

 

32.9

%

Operating margin

 

 

7.9

%

 

 

(6.7

)%

 

 

0.2

%

 

 

(7.8

)%

Loss Per Basic Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic loss per share from continuing

   operations

 

$

(0.09

)

 

$

(0.04

)

 

$

(0.01

)

 

$

(0.14

)

Basic loss per share from

   discontinued operations

 

$

(0.05

)

 

$

(0.79

)

 

$

—

 

 

$

—

 

Net loss per basic share

 

$

(0.14

)

 

$

(0.83

)

 

$

(0.01

)

 

$

(0.14

)

Loss Per Diluted Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted loss per share from continuing

   operations

 

$

(0.09

)

 

$

(0.04

)

 

$

(0.01

)

 

$

(0.14

)

Diluted loss per share from

   discontinued operations

 

$

(0.05

)

 

$

(0.79

)

 

$

—

 

 

$

—

 

Net loss per diluted share

 

$

(0.14

)

 

$

(0.83

)

 

$

(0.01

)

 

$

(0.14

)

Weighted average shares outstanding - basic

 

 

14,290

 

 

 

14,150

 

 

 

14,155

 

 

 

14,052

 

Weighted average shares outstanding - diluted

 

 

14,290

 

 

 

14,150

 

 

 

14,155

 

 

 

14,052

 

 

 

 

 

Fiscal Year 2019

 

 

 

First

Quarter

 

 

Second

Quarter

 

 

Third

Quarter

 

 

Fourth

Quarter

 

Revenue, net of returns and allowances

 

$

23,225

 

 

$

20,633

 

 

$

21,003

 

 

$

20,174

 

Cost of sales

 

 

14,205

 

 

 

12,706

 

 

 

13,153

 

 

 

11,614

 

Gross profit

 

 

9,020

 

 

 

7,927

 

 

 

7,850

 

 

 

8,560

 

Selling, general and administrative

 

 

6,626

 

 

 

5,793

 

 

 

5,718

 

 

 

6,126

 

Research, development and engineering

 

 

866

 

 

 

713

 

 

 

746

 

 

 

743

 

Restructuring charges

 

 

864

 

 

 

173

 

 

 

35

 

 

 

38

 

Operating income

 

 

664

 

 

 

1,248

 

 

 

1,351

 

 

 

1,653

 

Interest income and other, net

 

 

166

 

 

 

96

 

 

 

249

 

 

 

341

 

Income from continuing operations before

   income taxes

 

 

830

 

 

 

1,344

 

 

 

1,600

 

 

 

1,994

 

Income tax provision

 

 

582

 

 

 

332

 

 

 

707

 

 

 

1,012

 

Income from continuing operations,

   net of tax

 

 

248

 

 

 

1,012

 

 

 

893

 

 

 

982

 

(Loss) income from discontinued

   operations, net of tax

 

 

(2,620

)

 

 

(6,647

)

 

 

1,154

 

 

 

(184

)

Net (loss) income

 

$

(2,372

)

 

$

(5,635

)

 

$

2,047

 

 

$

798

 

Gross margin

 

 

38.8

%

 

 

38.4

%

 

 

37.4

%

 

 

42.4

%

Operating margin

 

 

2.9

%

 

 

6.0

%

 

 

6.4

%

 

 

8.2

%

Income (Loss) Per Basic Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic income per share from continuing

   operations

 

$

0.02

 

 

$

0.07

 

 

$

0.06

 

 

$

0.07

 

Basic (loss) income per share from

   discontinued operations

 

$

(0.18

)

 

$

(0.47

)

 

$

0.08

 

 

$

(0.01

)

Net (loss) income per basic share

 

$

(0.16

)

 

$

(0.40

)

 

$

0.14

 

 

$

0.06

 

Income (Loss) Per Diluted Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted income per share from continuing

   operations

 

$

0.02

 

 

$

0.07

 

 

$

0.06

 

 

$

0.07

 

Diluted (loss) income per share from

   discontinued operations

 

$

(0.18

)

 

$

(0.47

)

 

$

0.08

 

 

$

(0.01

)

Net (loss) income per diluted share

 

$

(0.16

)

 

$

(0.40

)

 

$

0.14

 

 

$

0.06

 

Weighted average shares outstanding - basic

 

 

14,220

 

 

 

14,228

 

 

 

14,245

 

 

 

14,266

 

Weighted average shares outstanding - diluted

 

 

14,252

 

 

 

14,258

 

 

 

14,316

 

 

 

14,304