Acquisitions and Divestitures

6 Months Ended

Mar. 31, 2015

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

Note 2 – Acquisitions and Divestitures

On June 26, 2014, the Company and its wholly owned subsidiary, Evaporated Metal Films Corp. (“EMF”) acquired substantially all the assets of DichroTec Thin Films, LLC (“DichroTec”), a manufacturer of optical thin film coatings. The total purchase price paid of $1.7 million, consisting of approximately $0.5 million in cash and 690,000 shares of Dynasil common stock, was allocated primarily to machinery and equipment. DichroTec reported unaudited revenues of approximately $1.9 million for the twelve months ended December 31, 2013.

The Company sold its Lead Paint detector and Gamma Medical Probe businesses on November 7, 2013 and December 23, 2013, respectively. These businesses constituted substantially all the Company’s Instruments segment but did not qualify to be reported as discontinued operations. The businesses were sold for an aggregate of approximately $4.7 million, including the assumption of certain liabilities of the Company and a possible contingent payment and resulted in a gain of $1.2 million which is included in Income from Operations in the six months ended March 31, 2014. The Company used $3.9 million of the proceeds from the two sale transactions to reduce its indebtedness to Santander Bank, N.A., its former lender.

In the three months ended December 31, 2014, the Company recorded a gain of $0.2 million in connection with the sale of a product line in its Optics segment.