Restatement of Prior Year Financial Statements

12 Months Ended

Sep. 30, 2017

Accounting Changes And Error Corrections [Abstract]

Restatement of Prior Year Financial Statements

22.  Restatement of Prior Year Financial Statements

Prior to the issuance of the Company’s consolidated financial statements for the fiscal year ended September 30, 2017, the Company concluded that its previously issued consolidated financial statements for the fiscal years ended September 30, 2016 and 2015 and the quarters ended December 31, 2016, March 31, 2017 and June 30, 2017, should be restated because of an accounting error with respect to the classification of inventories.

The Company classified inventories as a current asset in its consolidated balance sheet as of September 30, 2016, December 31, 2016, March 31, 2017 and June 30, 2017.  The Company has now determined that all of its inventories for each of those dates were not reasonably expected to be realized in cash, sold or consumed during the Company’s next operating cycle.  The restatement did not affect previously reported net loss, total assets, total liabilities or stockholders' equity or cash flows.  The impact of the restatement to the balance sheets at September 30, 2016 and 2015 was as follows (in thousands):

	AS OF SEPTEMBER 30, 2016
	As Reported		Adjustment			Restated
Current assets:
Cash and cash equivalents	$	10,262	$	-		$	10,262
Short-term investments		27,491		-			27,491
Trade accounts receivable, net		15,392		-			15,392
Financing receivables, net		1,533		-			1,533
Income tax receivable		13,290		-			13,290
Inventories		104,540		(73,696	)		30,844
Prepaid and other current assets		1,826		-			1,826
Total current assets		174,334		(73,696	)		100,638
Rental equipment		30,973		-			30,973
Property, plant and equipment		44,732		-			44,732
Non-current inventories	-			73,696			73,696
Deferred income tax assets, net		216		-			216
Non-current financing receivables, net		1,817		-			1,817
Prepaid income taxes		2,620		-			2,620
Other assets		80		-			80
Total assets		254,772		-			254,772
Total liabilities and stockholders' equity	$	254,772	$	-		$	254,772
	AS OF SEPTEMBER 30, 2015
	As Reported		Adjustment			Restated
Current assets:
Cash and cash equivalents	$	22,314	$	-		$	22,314
Short-term investments		18,112		-			18,112
Trade accounts receivable, net		12,693		-			12,693
Financing receivables, net		2,004		-			2,004
Income tax receivable		17,369		-			17,369
Inventories		124,800		(92,378	)		32,422
Prepaid and other current assets		1,295		-			1,295
Total current assets		198,587		(92,378	)		106,209
Rental equipment		46,036		-			46,036
Property, plant and equipment		48,709		-			48,709
Non-current inventories	-			92,378			92,378
Deferred income tax assets, net		4,554		-			4,554
Non-current financing receivables, net		1,516		-			1,516
Prepaid income taxes		4,095		-			4,095
Other assets		95		-			95
Total assets		303,592		-			303,592
Total liabilities and stockholders' equity	$	303,592	$	-		$	303,592

See Note 21 for the impact of the restatement on the balance sheets as of December 31, 2016, March 31, 2017 and June 30, 2017.