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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income $ 24,702 $ (2,619)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation 13,898 11,425
Amortization 385 312
Pension and post-retirement expense - U.S. and U.K. 9,591 7,822
Change in long-term obligations (778)  
Stock compensation expense 1,609 1,489
Excess tax benefit from option exercises 52 (432)
Deferred revenue (1,875) (1,875)
Deferred income taxes 624 (3,978)
Loss on disposition of property 180 245
Change in assets and liabilities:    
Accounts receivable (2,341) 6,236
Inventories (7,742) (13,855)
Other assets 389 (594)
Accounts payable and accrued expenses 4,028 23,280
Income taxes 269 1,712
Accrued pension and postretirement benefits (4,112) (5,056)
Net cash provided by operating activities 38,879 24,112
Cash flows from investing activities:    
Additions to property, plant and equipment (14,049) (33,317)
Acquisition of Leveltek – LaPorte assets (14,600)  
Net cash used in investing activities (28,649) (33,317)
Cash flows from financing activities:    
Dividends paid (8,214) (8,174)
Proceeds from exercise of stock options   1,063
Payment for purchase of treasury stock (251) (335)
Excess tax benefit from option execises (52) 432
Net cash used in financing activities (8,517) (7,014)
Effect of exchange rates on cash (349) 291
Increase (decrease) in cash and cash equivalents 1,364 (15,928)
Cash and cash equivalents:    
Cash and cash equivalents, beginning of period 45,871 68,326
Cash and cash equivalents, end of period 47,235 52,398
Cash paid during period for:    
Interest (net of capitalized interest) 19 4
Income taxes paid, net 12,189 983
Capital expenditures incurred but not yet paid 1,269 $ 1,964
Capital lease obligations incurred $ 4,500