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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:      
Net income (loss) $ (10,190) $ 5,020 $ 30,486
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation 21,601 20,533 18,997
Amortization 496 503 511
Pension and post-retirement expense - U.S. and U.K. 23,435 19,048 12,592
Change in long-term obligations (15) 73 (498)
Stock compensation expense 2,109 1,980 2,184
Excess tax expense from restricted stock vesting   153 55
Deferred revenue (7,488) 2,488 (2,500)
Deferred income taxes (10,072) 1,428 2,810
Loss on disposition of property 612 438 399
Change in assets and liabilities:      
Restricted cash 5,446 (5,446)  
Accounts receivable 755 10,965 (5,011)
Inventories (6,982) 6,611 4,073
Other assets 287 237 117
Accounts payable and accrued expenses 3,476 (1,782) (8,685)
Income taxes 709 3,773 (99)
Accrued pension and postretirement benefits (11,052) (12,035) (7,036)
Net cash provided by operating activities 13,127 53,987 48,395
Cash flows from investing activities:      
Additions to property, plant and equipment (15,006) (31,633) (18,546)
Acquisition of Leveltek – LaPorte assets     (14,600)
Net cash used in investing activities (15,006) (31,633) (33,146)
Cash flows from financing activities:      
Dividends paid (11,009) (10,988) (10,952)
Proceeds from exercise of stock options   310  
Payment for purchase of treasury stock (266) (289) (251)
Excess tax expense from restricted stock vesting   (153) (55)
Payment for debt issuance cost   (291)  
Payment on long-term obligation (166) (91) (173)
Net cash used in financing activities (11,441) (11,502) (11,431)
Effect of exchange rates on cash 351 (600) (644)
Increase (decrease) in cash and cash equivalents: (12,969) 10,252 3,174
Cash and cash equivalents:      
Beginning of period 59,297 49,045 45,871
End of period 46,328 59,297 49,045
Supplemental disclosures of cash flow information:      
Interest (net of capitalized interest) 807 486 347
Income taxes paid (refunded), net 2,335 (6,471) 14,017
Capital expenditures incurred but not yet paid 1,910 $ 1,869 1,741
Lease obligation incurred $ 4,100   $ 4,500