XML 18 R8.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income (loss) $ 3,708 $ (23,881)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation 14,090 17,244
Amortization 205 395
Pension and post-retirement expense - U.S. and U.K. 6,733 10,693
Stock compensation expense 1,848 1,920
Deferred revenue (1,875) (1,875)
Deferred income taxes 1,036 20,588
Loss on disposition of property 13 132
Change in assets and liabilities:    
Accounts receivable (5,044) (5,591)
Inventories 2,470 (27,937)
Other assets (409) 40
Accounts payable and accrued expenses 6,049 9,080
Income taxes 4,902 (6,632)
Accrued pension and postretirement benefits (5,457) (7,362)
Net cash provided by (used in) operating activities 28,269 (13,186)
Cash flows from investing activities:    
Additions to property, plant and equipment (7,316) (9,785)
Net cash provided by (used in) investing activities (7,316) (9,785)
Cash flows from financing activities:    
Revolving credit facility borrowings 16,600  
Revolving credit facility repayments (16,600)  
Dividends paid (8,258) (8,261)
Proceeds from exercise of stock options 215  
Payment for purchase of treasury stock (370) (223)
Payments on long-term obligation (106) (140)
Net cash provided by (used in) financing activities (8,519) (8,624)
Effect of exchange rates on cash (191) (154)
Increase (decrease) in cash and cash equivalents: 12,243 (31,749)
Cash and cash equivalents:    
Beginning of period 9,802 46,328
End of period 22,045 14,579
Supplemental disclosures of cash flow information:    
Interest (net of capitalized interest) 712 643
Income taxes paid (refunded), net (4,028) 1,407
Capital expenditures incurred, but not yet paid 418 715
Dividends declared but not yet paid $ 19 $ 11