XML 20 R8.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:      
Net income (loss) $ 41,975 $ 45,087 $ (8,683)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation 17,996 18,289 19,100
Amortization 579 780 467
Pension and post-retirement expense - U.S. and U.K. 2,243 1,898 8,100
Change in long-term obligations (108) (136) 9
Stock compensation expense 3,290 3,599 4,474
Deferred revenue (2,500) (2,500) (2,500)
Deferred income taxes (608) 6,442 (2,436)
Loss on disposition of property 498 18 173
Change in assets and liabilities:      
Accounts receivable (8,159) (42,710) (6,159)
Inventories (50,440) (116,780) (777)
Other assets (3,106) 3,464 (4,926)
Accounts payable and accrued expenses (8,465) 10,696 33,869
Income taxes (2,848) 1,780 2,859
Accrued pension and postretirement benefits (7,064) (9,408) (20,305)
Net cash provided by (used in) operating activities (16,717) (79,481) 23,265
Cash flows from investing activities:      
Additions to property, plant and equipment (16,397) (15,114) (5,949)
Net cash used in investing activities (16,397) (15,114) (5,949)
Cash flows from financing activities:      
Revolving credit facility borrowings 156,856 115,528  
Revolving credit facility repayments (116,734) (40,807)  
Dividends paid (11,192) (11,072) (11,175)
Proceeds from exercise of stock options 8,230 537  
Payment for purchase of treasury stock (934) (7,243) (4,986)
Payment for debt issuance cost (1,325) (103) (997)
Payments on long-term obligations (315) (278) (285)
Net cash provided by (used in) financing activities 34,586 56,562 (17,443)
Effect of exchange rates on cash 811 (1,253) 615
Increase (decrease) in cash and cash equivalents: 2,283 (39,286) 488
Cash and cash equivalents:      
Beginning of period 8,440 47,726 47,238
End of period 10,723 8,440 47,726
Supplemental disclosures of cash flow information:      
Interest (net of capitalized interest) 6,810 1,206 855
Income taxes paid, net 13,202 3,671 (1,580)
Capital expenditures incurred but not yet paid 1,442 242 666
Dividends declared but not yet paid $ 198 $ 199 $ 210