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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 24,378 $ 28,847
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation 12,866 13,480
Amortization 297 479
Pension and post-retirement expense 1,634 1,961
Change in long-term obligations (35) (50)
Stock compensation expense 2,962 2,410
Deferred revenue (1,875) (1,875)
Deferred income taxes 138 (549)
Loss on disposition of property 266 65
Change in assets and liabilities:    
Accounts receivable 2,657 10,955
Inventories 27,941 (47,167)
Other assets (696) (31)
Accounts payable and accrued expenses (11,115) (4,620)
Income taxes (646) (3,685)
Accrued pension and postretirement benefits (6,234) (6,285)
Net cash (used in) provided by operating activities 52,538 (6,065)
Cash flows from investing activities:    
Additions to property, plant and equipment (17,207) (11,770)
Net cash used in investing activities (17,207) (11,770)
Cash flows from financing activities:    
Revolving credit facility borrowings 84,141 101,294
Revolving credit facility repayments (108,353) (77,350)
Long term debt borrowings 520  
Long-term debt repayments (520)  
Dividends paid (8,518) (8,397)
Proceeds from exercise of stock options   8,228
Payment for purchase of treasury stock (1,541) (925)
Payment for debt issuance cost   (1,320)
Payments on long-term obligations (239) (211)
Net cash provided by (used in) financing activities (34,510) 21,319
Effect of exchange rates on cash 226 1,007
Increase in cash and cash equivalents: 1,047 4,491
Cash and cash equivalents:    
Beginning of period 10,723 8,440
End of period 11,770 12,931
Supplemental disclosures of cash flow information:    
Interest (net of capitalized interest) 5,647 4,890
Income taxes paid, net 7,016 12,245
Capital expenditures incurred but not yet paid 1,062 308
Dividends declared but not yet paid $ 164 $ 239