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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 28,847 $ 28,751
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 13,480 13,810
Amortization 479 547
Pension and post-retirement expense - U.S. and U.K. 1,961 1,650
Change in long-term obligations (50) (15)
Stock compensation expense 2,410 2,750
Deferred revenue (1,875) (1,875)
Deferred income taxes (549) 4,182
Loss on disposition of property 65 5
Change in assets and liabilities:    
Accounts receivable 10,955 (24,312)
Inventories (47,167) (98,880)
Other assets (31) 1,666
Accounts payable and accrued expenses (4,620) 18,045
Income taxes (3,685) 2,666
Accrued pension and postretirement benefits (6,285) (6,589)
Net cash used in operating activities (6,065) (57,599)
Cash flows from investing activities:    
Additions to property, plant and equipment (11,770) (11,464)
Net cash used in investing activities (11,770) (11,464)
Cash flows from financing activities:    
Revolving credit facility borrowings 101,294 64,500
Revolving credit facility repayments (77,350) (18,000)
Dividends paid (8,397) (8,329)
Proceeds from exercise of stock options 8,228 347
Payment for purchase of treasury stock (925) (6,795)
Payment for debt issuance cost (1,320)  
Payments on long-term obligations (211) (183)
Net cash provided by financing activities 21,319 31,540
Effect of exchange rates on cash 1,007 (765)
Increase (decrease) in cash and cash equivalents: 4,491 (38,288)
Cash and cash equivalents:    
Beginning of period 8,440 47,726
End of period 12,931 9,438
Supplemental disclosures of cash flow information:    
Interest (net of capitalized interest) 4,890 1,004
Income taxes paid, net 12,245 2,521
Capital expenditures incurred but not yet paid 308 424
Dividends declared but not yet paid $ 239 $ 152