XML 14 R4.htm IDEA: XBRL DOCUMENT v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2021
Mar. 31, 2020
Net Sales:        
Total net sales $ 5,121,845 $ 4,835,065 $ 9,991,497 $ 9,346,493
Cost of sales:        
Total cost of sales 2,218,854 2,539,894 4,522,683 4,449,675
Gross profit 2,902,991 2,295,171 5,468,814 4,896,818
Operating expenses:        
Research and development 689,654 712,019 1,289,952 1,378,634
Selling, general and administrative 1,602,118 1,531,389 3,335,272 3,234,663
Total operating expenses 2,291,772 2,243,408 4,625,224 4,613,297
Operating income 611,219 51,763 843,590 283,521
Interest income 152 65,721 1,031 144,591
Other income 17,371 11,219 33,763 28,499
Income before income taxes 628,742 128,703 878,384 456,611
Income tax expense (benefit) 20,165 (309,402) 29,662 (309,402)
Net income $ 608,577 $ 438,105 $ 848,722 $ 766,013
Net income per common share:        
Basic (in dollars per share) $ 0.04 $ 0.03 $ 0.05 $ 0.05
Diluted (in dollars per share) $ 0.04 $ 0.03 $ 0.05 $ 0.04
Weighted average shares outstanding:        
Basic (in shares) 17,222,165 16,931,138 17,218,275 16,920,087
Diluted (in shares) 17,223,998 17,123,388 17,220,143 17,102,483
Product        
Net Sales:        
Total net sales $ 5,102,670 $ 4,645,682 $ 9,905,505 $ 9,104,376
Cost of sales:        
Total cost of sales 2,211,649 2,464,697 4,505,943 4,309,177
Engineering development contracts        
Net Sales:        
Total net sales 19,175 189,383 85,992 242,117
Cost of sales:        
Total cost of sales $ 7,205 $ 75,197 $ 16,740 $ 140,498