djco20150927

2,703,000

2,800,000

3,012,000

Salaries and employee benefits

Costs and expenses

Postage and delivery expenses

1,318,000

1,281,000

1,328,000

Newsprint and printing expenses

1,225,000

1,221,000

1,307,000

Depreciation and amortization

5,531,000

5,516,000

2,441,000

Other general and administrative expenses

(Loss) income from operations

(3,512,000)

(2,190,000)

3,789,000

Other income (expenses)

(224,000)

(230,000)

(97,000)

Interest and penalty expense accrued for uncertain and unrecognized tax benefits

(96,000)

$ (537,000)

Gains on sales of marketable securities/capital assets

4,000

1,000

Other-than-temporary impairment losses on investments

(376,000)

(1,719,000)

(Loss) income before taxes

(310,000)

$ 141,000

4,569,000

Benefit from (provision for) income taxes

Weighted average number of common shares outstanding – basic and diluted (in shares)

1,380,746

Basic and diluted net income per share (in dollars per share)

$ 0.59

$ 0.46

$ 2.74

Comprehensive (loss) income

Net change in unrealized appreciation of investments (net of tax benefits of $5,764,000 for fiscal 2015, net of taxes of $14,286,000 and $13,544,000 for fiscal 2014 and 2013, respectively)

(8,811,000)

$ 22,393,000

21,292,000

Reclassification adjustment of other-than-temporary impairment losses recognized in net income (net of taxes of $146,000, $0 and $668,000, respectively)

230,000

1,051,000

(Loss) income before income taxes

Includes (i) New Dawn's financial results from December 5, 2012 through September 30, 2013 with revenues of $10,403,000 and expenses of $10,625,000 (including intangible amortization expenses of $1,587,000), and (ii) ISD's September 2013 financial results with revenues of $784,000 and expenses of $694,000 (including intangible amortization expenses of $278,000).

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Consolidated Statements of Comprehensive Income (Loss) (Parentheticals) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Reclassification adjustment of other-than-temporary impairment losses recognized in net income, taxes	$ 146,000	$ 0	$ 668,000

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Consolidated Statements of Shareholders’ Equity - USD ($)

Common Stock [Member]

Treasury Stock [Member]

Additional Paid-in Capital [Member]

Retained Earnings [Member]

AOCI Attributable to Parent [Member]

Total

Balance (in shares) at Sep. 30, 2012

Balance at Sep. 30, 2012

Net change in unrealized appreciation of investments (net of tax benefits of $5,764,000 for fiscal 2015, net of taxes of $14,286,000 and $13,544,000 for fiscal 2014 and 2013, respectively)

$ 21,292,000

21,292,000

Reclassification adjustment of other-than-temporary impairment losses recognized in net income (net of taxes of $146,000, $0 and $668,000, respectively)

1,051,000

Balance (in shares) at Sep. 30, 2013

Net change in unrealized appreciation of investments (net of tax benefits of $5,764,000 for fiscal 2015, net of taxes of $14,286,000 and $13,544,000 for fiscal 2014 and 2013, respectively)

Balance at Sep. 30, 2013

$ 22,393,000

Reclassification adjustment of other-than-temporary impairment losses recognized in net income (net of taxes of $146,000, $0 and $668,000, respectively)

Balance (in shares) at Sep. 30, 2014

Net change in unrealized appreciation of investments (net of tax benefits of $5,764,000 for fiscal 2015, net of taxes of $14,286,000 and $13,544,000 for fiscal 2014 and 2013, respectively)

Balance at Sep. 30, 2014

$ (8,811,000)

(8,811,000)

Reclassification adjustment of other-than-temporary impairment losses recognized in net income (net of taxes of $146,000, $0 and $668,000, respectively)

230,000

Balance (in shares) at Sep. 30, 2015

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Balance at Sep. 30, 2015

Consolidated Statements of Cash Flows - USD ($)

Subscription Arrangement [Member]

Increase (decrease) in liabilities (net of acquisitions)

Deferred Revenue Arrangements

$ (11,000)

$ (153,000)

$ (115,000)

Deferred Installation Contracts [Member]

Increase (decrease) in liabilities (net of acquisitions)

Deferred Revenue Arrangements

(1,076,000)

2,017,000

(593,000)

Deferred Maintenance Agreement [Member]

Increase (decrease) in liabilities (net of acquisitions)

Deferred Revenue Arrangements

Cash flows from investing activities

Acquisition of New Dawn Technologies, Inc. (net of cash acquired)

(11,878,000)

ISD Corporation [Member]

Cash flows from investing activities

Acquisition of New Dawn Technologies, Inc. (net of cash acquired)

Depreciation and amortization

5,531,000

$ 5,516,000

$ 2,441,000

Gains on sales of marketable securities

(4,000)

Deferred income taxes

(1,283,000)

$ (2,039,000)

$ (493,000)

Discount earned on bonds

(3,000)

$ (3,000)

(2,000)

Other-than-temporary impairment losses on investments

376,000

1,719,000

Accounts receivable, net

Prepaid expenses and other assets

299,000

975,000

252,000

Income tax receivable

Increase (Decrease) in Income Taxes Payable

(253,000)

3,244,000

Net cash provided by operating activities

$ 7,755,000

$ 4,507,000

$ 5,672,000

Maturities and sales of U.S. Treasury Bills

$ 800,000

Sales of marketable securities

$ 4,044,000

Purchases of marketable securities

(10,977,000)

Acquisition of The Daily Transcript

(50,000)

Purchases of property, plant and equipment

(565,000)

$ (435,000)

$ (280,000)

Net cash used for investing activities

$ (7,548,000)

$ (435,000)

(24,812,000)

Cash flows from financing activities

Investment margin account borrowing

29,493,000

Net cash provided from financing activities

29,493,000

Increase in cash and cash equivalents

$ 207,000

$ 4,072,000

10,353,000

Cash and cash equivalents

Interest paid during year

224,000

230,000

97,000

Income taxes (refunded) paid during year

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Note 1 - The Company and Operations	12 Months Ended
Note 1 - The Company and Operations	Sep. 30, 2015
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. THE COMPANY AND OPERATIONS Daily Journal Corporation (the “Company”) publishes newspapers and web sites covering California and Arizona, and produces several specialized information services. It also serves as a newspaper representative specializing in public notice advertising. Journal Technologies, Inc. (“Journal Technologies”) is the result of the October 1, 2014 merger of the Company’s three technology-related subsidiaries, which were previously separate companies: Sustain Technologies, Inc. (“Sustain”), a wholly owned subsidiary since 2008; New Dawn Technologies, Inc. (“New Dawn”), acquired in December 2012; and ISD Technologies, Inc. (“ISD”), acquired in September 2013. The merger was concluded in accordance with ASC 805-50-15, Business Combinations -- Transactions Between Entities Under Common Control. Since pushdown accounting had been applied at the time of acquisitions, all assets and liabilities of Sustain and ISD were integrated into Journal Technologies at their carrying book values. Journal Technologies supplies case management software systems and related products to courts, prosecutor and public defender offices, probation departments and other justice agencies, including administrative law organizations, city and county governments and bar associations. These organizations use the Journal Technologies family of products to help manage cases and information electronically, to interface with other critical justice partners and to extend electronic services to bar members and the public, including a website to pay traffic citations online. These products are licensed to more than 500 organizations in 41 states and internationally. Essentially all of the Company’s operations are based in California, Arizona and Utah.

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Note 2 - Summary of Significant Accounting Policies

Significant Accounting Policies [Text Block]

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation:

The consolidated financial statements include the accounts of the Company and Journal Technologies. All intercompany accounts and transactions have been eliminated in consolidation.

Certain prior year amounts have been reclassified to conform to the current year financial statement presentation.

Concentrations of Credit Risk:

The Company extends unsecured credit to most of its advertising customers. The Company recognizes that extending credit and setting appropriate reserves for receivables is largely a subjective decision based on knowledge of the customer and the industry. Credit exposure also includes the amount of estimated unbilled sales. Credit limits, setting and maintaining credit standards, and managing the overall quality of the credit portfolio is largely centralized. The level of credit is influenced by the customer’s credit and payment history which the Company monitors when establishing a reserve.

Cash equivalents:

The Company considers all highly liquid investments with insignificant risk of change in value within three months to be cash equivalents.

Fair Value of Financial Instruments:

The carrying amounts of cash, accounts receivable and accounts payable approximate fair value because of their short maturities. In addition, the Company has investments in marketable securities, all categorized as “available-for-sale

” and stated at fair

market value, with the unrealized gains and losses, net of tax

es, reported in

“Accumulated other comprehensive

income

” (AOCI) in the accompanying consolidated balance sheets.

The unrealized gains and losses included in AOCI represent changes in the fair value of the investments due to changes in both foreign currency exchange rates and market prices. The Company uses quoted prices in active markets for identical assets (consistent with the Level 1 definition in the fair value hierarchy) to measure the fair value of its investments on a recurring basis pursuant to Accounting Standards Codification (“ASC”)

Topic 820,

Fair Value Measurement and Disclosures

. At September 30, 2015, the aggregate fair market value of the Company’s marketable securities was $166,041,000. These investments had approximately $111,498,000 of unrealized gains before taxes of $43,278,000. Most of the unrealized gains were in the common stocks of three U.S. financial institutions. The bonds have a maturity date in 2039 and are classified as “Current assets” because they are available for sale. At September 30, 2014, the Company had marketable securities at fair market value of approximately $173,676,000, including approximately $125,700,000 of unrealized gains before taxes of $48,896,000.

Investment in Financial Instruments

	September 30, 2015						September 30, 2014
	Aggregate fair value		Amortized/Adjusted cost basis		Pretax unrealized gains		Aggregate fair value		Amortized/Adjusted cost basis		Pretax unrealized gains
Marketable securities
Common stocks	$	158,705,000	$	49,604,000	$	109,101,000	$	165,734,000	$	43,042,000	$	122,692,000
Bonds		7,336,000		4,939,000		2,397,000		7,942,000		4,934,000		3,008,000
	$	166,041,000	$	54,543,000	$	111,498,000	$	173,676,000	$	47,976,000	$	125,700,000

The Company perform

ed separate evaluations for impaired equity securities

quarterly to determine if the unrealized losses

were other-than-temporary. This evaluation

considered a number of factors including, but not limited to, the length of time and extent to which the fair value ha

d been less than cost, the financial condition and near term prospects of the issuer and

the Company’s ability and intent to hold the securities until fair value recovers. The assessment of the ability and intent to hold these securities to recovery focuses on liquidity

needs, asset/liability management and portfolio objectives.

As of September 30, 2015, the Company concluded that the unrealized losses related to

the marketable securities of one issuer were other-than-temporary and thus recorded impairment losses of $376,000 ($230,000 net of taxes).

U.S. GAAP requires that the Company recognize other-than-temporary impairment losses in earnings rather than in accumulated comprehensive income when the security prices remain below cost for a period of time that may be deemed excessive even in instances where the Company possesses the ability and intent to hold the security. However, the recording of these impairment losses does not necessarily indicate that the loss in value of these securities is permanent. In fiscal 2014,

there were no unrealized losses related to

the marketable securities.

Acquisitions:

In December 2012, the Company purchased all of the outstanding stock of New Dawn for $14,000,000 in cash. The results of operations of New Dawn from December 5, 2012 through September 30, 2013 were included in the Company’s Consolidated Financial Statements for fiscal 2013: revenues were $10,403,000, expenses were $10,625,000 (including intangible amortization expenses of $1,587,000), and its pretax loss was $222,000. On September 13, 2013, the Company acquired substantially all of the operating assets and liabilities of ISD Corporation for about $16,000,000 in cash. The results of operations of ISD for the month of September 2013 were also included in the Company’s Consolidated Financial Statements for fiscal 2013: revenues were $784,000, expenses were $694,000 (including intangible amortization expenses of $278,000), and its pretax income was $90,000. Both acquisitions were accounted for using the purchase method of accounting in accordance with ASC 805,

Business Combinations

. The Company incurred legal and tax fees of approximately $96,000 for the New Dawn acquisition and approximately $202,000 for the ISD acquisition during fiscal 2013. These costs were included in “Other general and administrative expenses” on the Company’s consolidated Statements of Comprehensive Income (Loss) in fiscal 2013. The Company acquired New Dawn and ISD to expand its case management software business and to broaden its customer base in key markets.

Intangible Assets:

At September 30, 2015 and 2014, intangible assets were composed of (i) customer relationships of $11,698,000 and $15,946,000 (net of the accumulated amortization expenses of $10,406,000 and $6,004,000), respectively, and (ii) developed technology of $1,292,000 and $1,798,000 (net of accumulated amortization expenses of $1,233,000 and $727,000), respectively. These intangible assets are being amortized over five years or less based on their estimated useful lives. Future annual intangible amortization costs are estimated to be approximately $5,037,000 for fiscal 2016, $$4,895,000 for fiscal 2017 and $3,058,000 for fiscal 2018 and none thereafter. Intangible amortization expense was $4,907,000, $4,866,000 and $1,865,000 for fiscal 2015, 2014 and 2013, respectively.

Intangible Assets

	September 30, 2015									September 30, 2014
	Customer Relationships			Developed Technology			Total			Customer Relationships			Developed Technology			Total

Gross intangible	$	22,104,000		$	2,525,000		$	24,629,000		$	21,950,000		$	2,525,000		$	24,475,000
Accumulated amortization		(10,406,000	)		(1,233,000	)		(11,639,000	)		(6,004,000	)		(727,000	)		(6,731,000	)
	$	11,698,000		$	1,292,000		$	12,990,000		$	15,946,000		$	1,798,000		$	17,744,000

Goodwill:

The Company accounts for goodwill in accordance with ASC 350,

Intangibles — Goodwill and Other

. Goodwill is not amortized for financial statement purposes but evaluated for impairment annually, or whenever events or changes in circumstances indicate that the value may not be recoverable. The goodwill amount reported in the consolidated balance sheets relates only to Journal Technologies. The Company performed qualitative assessments for Journal Technologies and determined there were no substantive changes during the current year and no indication of impairment. In making this assessment, the Company only considered Journal Technologies’ assets and their revenue generating abilities as required by ASC 350. Goodwill represents the expected synergies in expanding the Company’s software business. Considered factors for potential goodwill impairment evaluation for the reporting units include the current year’s business profitability before intangible amortization, fluctuations of revenues, changes in the market place, the status of installation contracts and new business, among other things. As of September 30, 2015 and 2014, there was goodwill of $13,400,000.

Prepaid and Other Assets:

Included in other assets are in-progress installation service costs for projects from the acquisition for which revenues have not yet been recognized and are deferred.

Inventories:

Inventories, comprised of newsprint and paper, are stated at cost, on a first-in, first-out basis, which does not exceed current market value.

Property, plant and equipment:

Property, plant and equipment are carried on the basis of cost or fair value for assets acquired in business combinations. Depreciation of assets is provided in amounts sufficient to depreciate the cost of related assets over their estimated useful lives ranging from 3 – 39 years. At September 30, 2015, the estimated useful lives were (i) 5 – 39

years for building and improvements, (ii) 3 – 5 years for furniture, office equipment and software, and (iii) 3 – 10 years for machinery and equipment. Leasehold improvements are amortized over the term of the related leases or the useful life of the assets, whichever is shorter. Assets are depreciated using the straight-line method for financial statements and accelerated method for tax purposes. Depreciation and amortization expenses were $624,000, $650,000 and $576,000 for fiscal 2015, 2014 and 2013, respectively.

Impairment of Long-Lived Assets:

The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. There were no such impairments identified during fiscal 2015, 2014 and 2013.

Journal Technologies’ Software Development Costs:

Development costs related to software products developed for sale or licensing are expensed as incurred until the technological feasibility of the product has been established. Thereafter, until the product is released for sale, software development costs are capitalized and reported at the lower of unamortized cost or net realizable value of the related product. The establishment of technological feasibility and the ongoing assessment of recoverability of costs require considerable judgment by the Company with respect to certain internal and external factors, including, but not limited to, anticipated future product revenue, estimated economic life and changes in hardware and software technology.

Revenue Recognition:

For the Traditional Business, proceeds from the sale of subscriptions for newspapers, court rule books and other publications and other services are recorded as deferred revenue and are included in earned revenue only when the services are provided, generally over the subscription term. Advertising revenues are recognized when advertisements are published and are net of commissions. The change in allowance for doubtful accounts is as follows.

Description	Balance at Beginning of Year		Additions Charged to Costs and Expenses		Accounts Charged off less Recoveries			Balance at End of Year
2015
Allowance for doubtful accounts	$	250,000	$	61,000	$	(61,000	)	$	250,000
2014
Allowance for doubtful accounts	$	250,000	$	41,000	$	(41,000	)	$	250,000
2013
Allowance for doubtful accounts	$	200,000	$	144,000	$	(94,000	)	$	250,000

Journal Technologies recognizes revenues in accordance with the provisions of ASC 985-605,

Software—Revenue Recognition

and ASC 605-35

Construction-Type and Production-Type Contracts

. Revenues from annual license and maintenance contracts generally call for the Company to provide software updates and upgrades to customers and are recognized ratably over the maintenance period. Consulting and other services are recognized upon acceptance by the customers under the completed contract method. The Company elects to use the completed contract method because each customer’s acceptance is unpredictable and reliable estimates of the progress towards completion cannot be made. Only after a customer’s acceptance of a completed project are customer advances generally no longer at risk of refund and are therefore considered earned.

Management Incentive Plan:

In fiscal 1987, the Company implemented a Management Incentive Plan (the “Incentive Plan”) that entitles a participant to participate in pretax earnings before adjustment for certain items of the Company. In 2003, the Company modified the Incentive Plan to provide participants with three different types of non-negotiable incentive certificates based on the nature of the particular participants’ responsibilities. Each certificate entitles the participant to a specified share of the applicable pretax earnings in the year of grant and to receive the same percentage of pretax earnings to be generated in each of the next nine years provided they remain with the Company or are in retirement after working for the Company to age 65. If a participant dies while any of his or her certificates remain outstanding, future payments under those certificates will be made to the deceased participant’s beneficiaries.

Income taxes:

The Company accounts for income taxes using an asset and liability approach which requires the recognition of deferred tax liabilities and assets for the expected future consequences of temporary differences between the carrying amounts for financial reporting purposes and the tax basis of the assets and liabilities. The Company accounts for uncertainty in income taxes under ASC 740-10 which prescribes a recognition threshold and measurement methodology to recognize and measure an income tax position taken, or expected to be taken, in a tax return. The evaluation of a tax position is based on a two-step approach. The first step requires an entity to evaluate whether the tax position would “more likely than not” be sustained upon examination by the appropriate taxing authority. The second step requires the tax position be measured at the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement. In addition, previously recognized benefits from tax positions that no longer meet the new criteria would be derecognized. The Company records liabilities related to uncertain tax positions in accordance with ASC 740, Tax Provisions. At September 30, 2015, the Company accrued an approximately $2,991,000 tax liability for uncertain and unrecognized tax benefits relative to an acquisition in fiscal 2013. At September 30, 2014, there were unrecognized tax benefits of $3,244,000.

Net income per common share

The net income per common share is based on the weighted average number of shares outstanding during each year. The shares used in the calculation were 1,380,746 for fiscal 2015, 2014 and 2013. The Company does not have any common stock equivalents, and therefore basic and diluted net income per share is the same.

Use of Estimates:

The presentation of the Company’s financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The long-term Incentive Plan accrual is calculated using Level 3 inputs, as defined in the fair value hierarchy, based on an average of the past year’s and the current year’s pretax earnings, discounted to the present value at 6% since each granted Unit will expire over its remaining life term of up to 10 years. Additionally, the purchase price allocations for New Dawn and ISD were based on estimates of fair value at the respective acquisition dates, using Level 3 measurement inputs under the fair value measurement hierarchy. Actual results could differ from these estimates.

Accounting Standards Adopted in 2013

: In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (“ASU”) No. 2013-02,

Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income

, requiring entities to disclose additional information with respect to changes in accumulated other comprehensive income (AOCI) balances by component and significant items reclassified out of AOCI. This ASU was effective beginning October 1, 2013 for the Company, and the adoption has no impact on the Company’s consolidated results of operations or financial positions because it only represents a change to the presentation and disclosure requirements.

New Accounting Pronouncements:

In April 2014, the FASB issued ASU No. 2014-08,

Presentation of Financial Statements

(Topic 205) and Property, Plant and Equipment (Topic 360)

Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity

. This update changes the requirements for reporting discontinued operations. A disposal of a component of an entity or a group of components of an entity is required to be reported in the discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. Further, this update expands the disclosures about an entity’s significant continuing involvement with a discontinued operation. The standard is required to be adopted for annual periods beginning on or after December 15, 2014, including interim periods within that annual period, which is our fiscal year 2016. An entity should not apply the amendments in this update to a component of an entity, or a business or nonprofit activity, that is classified as held for sale before the effective date even if the component of an entity, or business or nonprofit activity, is disposed of after the effective date. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. We have not yet evaluated what impact, if any, the adoption of this guidance may have on our financial condition, results of operations or disclosures.

In May 2014, the FASB issued ASU No. 2014-09,

Revenue from Contracts with Customers (Topic 606)

. This update clarifies the principles for revenue recognition in transactions involving contracts with customers. The new revenue recognition guidance provides a five-step analysis to determine when and how revenue is recognized. The new guidance will require revenue recognition to depict the transfer of promised goods or services to a customer in an amount that reflects the consideration a company expects to receive in exchange for those goods or services.

In August 2015, the FASB issued ASU No. 2015-14,

Revenue from Contracts with Customers (Topic 606): Deferral of Effective Date

. This update defers the mandatory effective date of its revenue recognition standard by one year. The standard is required to be adopted for annual periods beginning after December 15, 2017, including interim periods within that annual period, which is our fiscal year 2019. Early application is permitted for annual reporting periods beginning after December 15, 2016, and interim periods within that annual period, which is our fiscal year 2018. We have not yet evaluated what impact, if any, the adoption of this guidance may have on our financial condition, results of operations or disclosures.

In September 2015, the FASB issued ASU No. 2015-16,

Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments

. This update eliminates the requirement for an acquirer in a business combination to account for measurement-period adjustments retrospectively. Under the existing business combination standard, an acquirer reports provisional amounts with respect to acquired assets and liabilities when their measurements are incomplete as of the end of the reporting period. Prior to this update, an acquirer is required to adjust provisional amounts and the related impact on earnings by restating prior period financial statements during the measurement period which cannot exceed one year from the date of acquisition. The new guidance requires that the cumulative impact of a measurement-period adjustment, including the impact on prior periods, be recognized in the reporting period in which the adjustment is identified eliminating the requirement to restate prior period financial statements. The new standard requires disclosure of the nature and amount of measurement-period adjustments as well as information with respect to the portion of the adjustments recorded in current-period earnings that would have been recorded in previous reporting periods if the adjustments to provisional amounts had been recognized as of the acquisition date. The standard is required to be adopted for annual periods beginning after December 15, 2015, including interim periods within that annual period, which is our fiscal year 2017. The amendment is to be applied prospectively to measurement-period adjustments that occur after the effective date with earlier adoption permitted. We have not yet evaluated what impact, if any, the adoption of this guidance may have on our financial condition, results of operations or disclosures.

In November 2015, the FASB issued ASU No. 2015-17,

Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes

. This update requires deferred tax liabilities and assets to be classified as noncurrent in the consolidated balance sheet. The standard is required to be adopted for annual periods beginning after December 15, 2016, including interim periods within that annual period, which is our fiscal year 2018. The amendment may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. We have not yet evaluated what impact, if any, the adoption of this guidance may have on our financial condition, results of operations or disclosures.

No other new accounting pronouncement issued or effective has had, or is expected to have, a material impact on the Company’s consolidated financial statements.

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Note 3 - Income Taxes

Income Tax Disclosure [Text Block]

3. INCOME TAXES

The (benefit from) provision for income taxes consists of the following:

	2015			2014			2013
Current:
Federal	$	458,000		$	1,065,000		$	1,011,000
State		(271,000	)		484,000			(228,000	)
		187,000			1,549,000			783,000
Deferred:
Federal		(1,053,000	)		(1,790,000	)		(30,000	)
State		(254,000	)		(249,000	)		37,000
		(1,307,000	)		(2,039,000	)		7,000
	$	(1,120,000	)	$	(490,000	)	$	790,000

The difference between the statutory federal income tax rate and the Company’s effective rate is summarized below:

	2015			2014			2013

Statutory federal income tax rate		34.0	%		34.0	%		34.0	%
State franchise taxes (net of federal tax benefit)		(23.3	)		(38.3	)		5.0
State enterprise zone benefits		134.9			---			---
Business meals/gifts		(18.8	)		36.1			1.0
Domestic production activity deduction		(2.2	)		(135.7	)		(2.0	)
Dividends received deduction		225.7			(424.6	)		(10.2	)
Penalties for uncertain and unrecognized tax benefits		---			115.5			---
Prior year true-up		(7.30	)		84.7			---
Foreign tax credits		28.4			(17.9	)		(0.3	)
Effect of state rate change on beginning balance of deferred tax liabilities		(5.0	)		---			(2.4	)
Others		(5.5	)		(1.3	)		(7.8	)
Effective tax rate		360.9	%		(347.5	)%		17.3	%

At September 30, 2015, the Company’s deferred income tax assets and liabilities were comprised of the following:

	2015			2014			2013
Deferred tax assets attributable to:
Accrued liabilities, including supplemental compensation and vacation pay accrual	$	605,000		$	1,063,000		$	1,083,000
Impairment losses on investments		1,369,000			1,779,000			1,778,000
Bad debt reserves not yet deductible		82,000			78,000			78,000
Depreciation and amortization		3,251,000			1,822,000			356,000
Deferred revenues		1,378,000			1,116,000			---
Credits and other		869,000			12,000			41,000
Total deferred tax assets		7,554,000			5,870,000			3,336,000

Deferred tax liabilities attributable to:
Unrealized gains on investments		(43,278,000	)		(48,896,000	)		(34,610,000	)
Goodwill		(896,000	)		(495,000	)	--- _
Total deferred tax liabilities		(44,174,000	)		(49,391,000	)		(34,610,000	)
Net deferred income taxes	$	(36,620,000	)	$	(43,521,000	)	$	(31,274,000	)

At September 30, 2015, the Company had an

accrued liability of approximately $2,991,000 for uncertain and unrecognized tax benefits relating to an acquisition in fiscal 2013, after a reduction of $253,000 resulting from the recognition of deferred revenues and from the amortization of goodwill for tax purposes. The Company does not anticipate a significant increase or decrease in this liability in the next twelve months. If recognized, it is expected that these unrecognized tax benefits would not have a significant impact on the Company’s effective tax rate. At September 30, 2014, the Company evaluated a tax position taken on its prior year tax return and determined that the position did not meet the more likely than not criteria because that position taken was in contrary to the one accounted for in purchase accounting. The Company thus accrued a liability of approximately $3,244,000 for uncertain and unrecognized tax benefits at September 30, 2014. There was no such an accrual in fiscal 2013.

A reconciliation of the beginning and ending balance for liabilities associated with these uncertain and unrecognized tax benefits is as follows:

Uncertain Tax Liability
	2015			2014		2013

Beginning balance	$	3,244,000		$	---	$	---
Added liability for the prior year		---			2,393,000		---
Added liability for the current year		---			851,000		---
Tax payment upon settlement		---			---		---
Reduced liability for the current year		(253,000	)		---		---
Ending balance	$	2,991,000		$	3,244,000	$	---

XML 22 R11.htm IDEA: XBRL DOCUMENT

Note 4 - Debts and Commitments

Commitments Disclosure [Text Block]

4. DEBTS AND COMMITMENTS

In December 2012, the Company borrowed from its investment margin account the purchase price of $14 million for the New Dawn acquisition, and in September 2013, it borrowed another $15.5 million for the ISD acquisition, in each case pledging its marketable securities as collateral. The interest rate for these investment margin account borrowings fluctuates based on the Federal Funds Rate plus 50 basis points with interest only payable monthly. The interest rate as of September 30, 2015 was 0.75%, and there has been no fluctuation in the interest rate since December 2012. These investment margin account borrowings do not mature.

The following table represents the Company’s future obligations:

	Payments due by Fiscal Year
	2016		2017		2018		2019		2020		2021 and after		Total
Obligations under operating leases	$	629,000	$	476,000	$	303,000	$	294,000	$	25,000	$	---	$	1,727,000
Long-term accrued liabilities*		---		9,000		6,000		---		---		32,000		47,000
	$	629,000	$	485,000	$	309,000	$	294,000	$	25,000	$	32,000	$	1,774,000

* The long-term accrued liabilities are discounted to the present value using a discount rate of 6%.

XML 23 R12.htm IDEA: XBRL DOCUMENT

Note 5 - Contingencies	12 Months Ended
Note 5 - Contingencies	Sep. 30, 2015
Notes to Financial Statements
Contingencies Disclosure [Text Block]	5. CONTINGENCIES From time to time, the Company is subject to litigation arising in the normal course of its business. While it is not possible to predict the results of such litigation, management does not believe the ultimate outcome of these matters will have a material effect on the Company’s financial position or results of operations or cash flows.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14472-108349

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+ Details

XML 24 R13.htm IDEA: XBRL DOCUMENT

Note 6 - Reportable Segments

Segment Reporting Disclosure [Text Block]

6. REPORTABLE SEGMENTS

In accordance with ASC 280-10,

Segment Reporting

, the Company has two segments of business. The Company’s reportable segments are: (i) the Traditional Business and (ii) Journal Technologies. Journal Technologies is an aggregation of three technology operating segments – Sustain, New Dawn and ISD. All inter-segment transactions were eliminated.

The Company reclassified certain prior years’ figures to allocate the amounts related to the Company’s Corporate function and the related tax effects to Corporate from its other segments to conform to the presentation requirements of ASC 280.

Summarized financial information concerning the Company’s reportable segments is shown in the following table:

	Reportable Segments
	Traditional Business			Journal Technologies			Corporate income and expenses			Total
Fiscal 2015
Revenues
Advertising, net	$	10,502,000		$	---		$	---		$	10,502,000
Circulation		5,915,000			---			---			5,915,000
Advertising service fees and other		2,703,000			---			---			2,703,000
Licensing and maintenance fees		---			13,984,000			---			13,984,000
Consulting fees		---			4,704,000			---			4,704,000
Other public service fees		---			6,170,000			---			6,170,000
Operating expenses		18,038,000			29,452,000			---			47,490,000
Income (loss) from operations		1,082,000			(4,594,000	)		---			(3,512,000	)
Dividends and interest income		---			---			3,829,000			3,829,000
Other income and capital gains		---			---			69,000			69,000
Interest expense on margin loans		---			---			(224,000	)		(224,000	)
Interest expense accrued for uncertain and unrecognized tax benefits		---			(96,000	)		---			(96,000	)
Other-than-temporary impairment losses on investments		---			---			(376,000	)		(376,000	)
Pretax income (loss)		1,082,000			(4,690,000	)		3,298,000			(310,000	)
Income tax benefit		(70,000	)		1,580,000			(390,000	)		1,120,000
Net income (loss)		1,012,000			(3,110,000	)		2,908,000			810,000
Total assets		15,047,000			47,108,000			166,041,000			228,196,000
Capital expenditures		425,000			140,000			---			565,000
Amortization of intangible assets		12,000			4,895,000			---			4,907,000

	Reportable Segments
	Traditional Business			Journal Technologies			Corporate income and expenses			Total
Fiscal 2014
Revenues
Advertising, net	$	11,435,000		$	---		$	---		$	11,435,000
Circulation		6,038,000			---			---			6,038,000
Advertising service fees and other		2,800,000			---			---			2,800,000
Licensing and maintenance fees		---			12,987,000			---			12,987,000
Consulting fees		---			4,002,000			---			4,002,000
Other public service fees		---			6,161,000			---			6,161,000
Operating expenses		17,154,000			28,459,000			---			45,613,000
Income (loss) from operations		3,119,000			(5,309,000	)		---			(2,190,000	)
Dividends and interest income		---			---			3,001,000			3,001,000
Other income and capital gains		---			---			97,000			97,000
Interest expenses		---			---			(230,000	)		(230,000	)
Interest expense accrued for uncertain and unrecognized tax benefits		---			(537,000	)		---			(537,000	)
Pretax income (loss)		3,119,000			(5,846,000	)		2,868,000			141,000
Income tax benefit		(1,460,000	)		2,350,000			(400,000	)		490,000
Net income (loss)		1,659,000			(3,496,000	)		2,468,000			631,000
Total assets		18,228,000			51,973,000			173,676,000			243,877,000
Capital expenditures		110,000			325,000			---			435,000
Amortization of intangible assets		---			4,866,000			---			4,866,000

	Reportable Segments
	Traditional Business			Journal Technologies*			Corporate income and expenses			Total
Fiscal 2013*
Revenues
Advertising, net	$	14,472,000		$	---		$	---		$	14,472,000
Circulation		6,346,000			---			---			6,346,000
Advertising service fees and other		3,012,000			---			---			3,012,000
Licensing and maintenance fees		---			9,942,000			---			9,942,000
Consulting fees		---			3,406,000			---			3,406,000
Other public service fees		---			498,000			---			498,000
Operating expenses		15,856,000			18,031,000			---			33,887,000
Income (loss) from operations		7,974,000			(4,185,000	)		---			3,789,000
Dividends and interest income		---			---			2,541,000			2,541,000
Other income and capital gains		---			---			55,000			54,000
Interest expenses		---			---			(97,000	)		(97,000	)
Other-than-temporary impairment losses on investments		---			---			(1,719,000	)		(1,719,000	)
Pretax income (loss)		7,974,000			(4,185,000	)		780,000			4,569,000
Income tax expense		(3,301,000	)		2,263,000			248,000			(790,000	)
Net income (loss)		4,673,000			(1,922,000	)		1,028,000			3,779,000
Total assets		18,458,000			47,611,000			136,994,000			203,063,000
Capital expenditures		96,000			184,000			---			280,000
Amortization of intangible assets		---			1,865,000			---			1,865,000

Includes (i) New Dawn’s financial results from December 5, 2012 through September 30, 2013 with revenues of $10,403,000

and expenses of $10,625,000 (including intangible amortization expenses of $1,587,000), and (ii) ISD’s September 2013

financial results with revenues of $784,000 and expenses of $694,000 (including intangible amortization expenses of $278,000).

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599

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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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+ Details

XML 25 R14.htm IDEA: XBRL DOCUMENT

Note 7 - Results of Operations by Quarter (Unaudited)

Quarterly Financial Information [Text Block]

7. RESULTS OF OPERATIONS BY QUARTER (UNAUDITED)

	Quarter ended
	December 31			March 31			June 30			September 30
	(in thousands except per share amounts)
2015
Revenues	$	11,323		$	11,392		$	10,503		$	10,760
Costs and expenses		11,684			12,358			11,636			11,812
Loss from operations		(361	)		(966	)		(1,133	)		(1,052	)
Other income, net		769			795			1,106			532*
Income (loss) before taxes		408			(171	)		(27	)		(520	)
Benefits from income taxes		25			675			60			360
Net income (loss)		433			504			33			(160	)
Basic and diluted net income (loss) per share		.31			.37			.02			(.11	)
2014
Revenues	$	9,951		$	10,828		$	11,147		$	11,497
Costs and expenses		11,220			11,346			11,410			11,637
Loss from operations		(1,269	)		(518	)		(263	)		(140	)
Other income, net		619			591			276			845
Income (loss) before taxes		(650	)		73			13			705
Benefit from (provision for) income taxes		10			(20	)		25			475
Net income (loss)		(640	)		53			38			1,180
Basic and diluted net income (loss) per share		(.46	)		.04			.03			.85

* Includes other-than-temporary impairment losses on investments of $376,000

XML 26 R15.htm IDEA: XBRL DOCUMENT

Note 8 - Subsequent Events	12 Months Ended
Note 8 - Subsequent Events	Sep. 30, 2015
Notes to Financial Statements
Subsequent Events [Text Block]	8. SUBSEQUENT EVENTS In November 2015, the Company purchased a 30,700 square foot office building constructed in 1998 on about 3.6 acres in Logan, Utah that had been previously leased for Journal Technologies. The Company paid $1.25 million and financed the balance with a real estate bank loan of $2.26 million which bears a fixed interest rate of 4.66% and is repayable in equal monthly installments of about $17,600 through 2030. This loan is secured by the Logan facility and can be paid off at any time without prepayment penalty. Other than the real estate bank loan disclosed above, the Company has completed an evaluation of all subsequent events through the issuance date of these financial statements and concluded that no additional subsequent events occurred that required recognition in the financial statements or disclosures in the Notes to Consolidated Financial Statements.

XML 27 R16.htm IDEA: XBRL DOCUMENT

Significant Accounting Policies (Policies)

Consolidation, Policy [Policy Text Block]

Accounting Policies [Abstract]

Basis of Presentation:

The consolidated financial statements include the accounts of the Company and Journal Technologies. All intercompany accounts and transactions have been eliminated in consolidation.

Certain prior year amounts have been reclassified to conform to the current year financial statement presentation.

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentrations of Credit Risk:

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash equivalents:

The Company considers all highly liquid investments with insignificant risk of change in value within three months to be cash equivalents.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value of Financial Instruments:

” and stated at fair

market value, with the unrealized gains and losses, net of tax

es, reported in

“Accumulated other comprehensive

income

” (AOCI) in the accompanying consolidated balance sheets.

Topic 820,

Fair Value Measurement and Disclosures

Investment in Financial Instruments

	September 30, 2015						September 30, 2014
	Aggregate fair value		Amortized/Adjusted cost basis		Pretax unrealized gains		Aggregate fair value		Amortized/Adjusted cost basis		Pretax unrealized gains
Marketable securities
Common stocks	$	158,705,000	$	49,604,000	$	109,101,000	$	165,734,000	$	43,042,000	$	122,692,000
Bonds		7,336,000		4,939,000		2,397,000		7,942,000		4,934,000		3,008,000
	$	166,041,000	$	54,543,000	$	111,498,000	$	173,676,000	$	47,976,000	$	125,700,000

The Company perform

ed separate evaluations for impaired equity securities

quarterly to determine if the unrealized losses

were other-than-temporary. This evaluation

considered a number of factors including, but not limited to, the length of time and extent to which the fair value ha

d been less than cost, the financial condition and near term prospects of the issuer and

the Company’s ability and intent to hold the securities until fair value recovers. The assessment of the ability and intent to hold these securities to recovery focuses on liquidity

needs, asset/liability management and portfolio objectives.

As of September 30, 2015, the Company concluded that the unrealized losses related to

the marketable securities of one issuer were other-than-temporary and thus recorded impairment losses of $376,000 ($230,000 net of taxes).

there were no unrealized losses related to

the marketable securities.

Business Combinations Policy [Policy Text Block]

Acquisitions:

Business Combinations

On July 25, 2014, the Company finalized its valuation of ISD, which resulted in an allocation of $1,700,000 to goodwill and a reduction of the same amount in its intangible assets. The Company allocated the ISD purchase price to tangible assets ($4,410,000 including cash of $2,546,000; accounts receivable of $1,636,000; fixed assets of $141,000; and prepaid assets of $87,000), identifiable intangible assets (purchased software and customer relationships of $14,975,000 pursuant to the results of a third party valuation) and liabilities ($5,112,000 including accounts payable and accrued expenses of $2,270,000 and deferred maintenance agreements of $2,842,000) based on their fair values with the remaining balance in excess of the net assets allocated to goodwill ($1,700,000).

Goodwill and Intangible Assets, Policy [Policy Text Block]

Intangible Assets:

Intangible Assets

	September 30, 2015									September 30, 2014
	Customer Relationships			Developed Technology			Total			Customer Relationships			Developed Technology			Total

Gross intangible	$	22,104,000		$	2,525,000		$	24,629,000		$	21,950,000		$	2,525,000		$	24,475,000
Accumulated amortization		(10,406,000	)		(1,233,000	)		(11,639,000	)		(6,004,000	)		(727,000	)		(6,731,000	)
	$	11,698,000		$	1,292,000		$	12,990,000		$	15,946,000		$	1,798,000		$	17,744,000

Goodwill:

The Company accounts for goodwill in accordance with ASC 350,

Intangibles — Goodwill and Other

Prepaid and Other Assets Policy [Policy Text Block]

Prepaid and Other Assets:

Included in other assets are in-progress installation service costs for projects from the acquisition for which revenues have not yet been recognized and are deferred.

Inventory, Policy [Policy Text Block]

Inventories:

Inventories, comprised of newsprint and paper, are stated at cost, on a first-in, first-out basis, which does not exceed current market value.

Property, Plant and Equipment, Policy [Policy Text Block]

Property, plant and equipment:

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

Impairment of Long-Lived Assets:

Research, Development, and Computer Software, Policy [Policy Text Block]

Journal Technologies’ Software Development Costs:

Revenue Recognition, Policy [Policy Text Block]

Revenue Recognition:

For the Traditional Business, proceeds from the sale of subscriptions for newspapers, court rule books and other publications and other services are recorded as deferred revenue and are included in earned revenue only when the services are provided, generally over the subscription term. Advertising revenues are recognized when advertisements are published and are net of commissions. The change in allowance for doubtful accounts is as follows.

Description	Balance at Beginning of Year		Additions Charged to Costs and Expenses		Accounts Charged off less Recoveries			Balance at End of Year
2015
Allowance for doubtful accounts	$	250,000	$	61,000	$	(61,000	)	$	250,000
2014
Allowance for doubtful accounts	$	250,000	$	41,000	$	(41,000	)	$	250,000
2013
Allowance for doubtful accounts	$	200,000	$	144,000	$	(94,000	)	$	250,000

Journal Technologies recognizes revenues in accordance with the provisions of ASC 985-605,

Software—Revenue Recognition

and ASC 605-35

Construction-Type and Production-Type Contracts

Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]

Management Incentive Plan:

Income Tax, Policy [Policy Text Block]

Income taxes:

Earnings Per Share, Policy [Policy Text Block]

Net income per common share

Use of Estimates, Policy [Policy Text Block]

Use of Estimates:

New Accounting Pronouncements, Policy [Policy Text Block]

Accounting Standards Adopted in 2013

: In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (“ASU”) No. 2013-02,

Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income

New Accounting Pronouncements:

In April 2014, the FASB issued ASU No. 2014-08,

Presentation of Financial Statements

(Topic 205) and Property, Plant and Equipment (Topic 360)

Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity

In May 2014, the FASB issued ASU No. 2014-09,

Revenue from Contracts with Customers (Topic 606)

In August 2015, the FASB issued ASU No. 2015-14,

Revenue from Contracts with Customers (Topic 606): Deferral of Effective Date

In September 2015, the FASB issued ASU No. 2015-16,

Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments

In November 2015, the FASB issued ASU No. 2015-17,

Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes

No other new accounting pronouncement issued or effective has had, or is expected to have, a material impact on the Company’s consolidated financial statements.

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Note 2 - Summary of Significant Accounting Policies (Tables)

Schedule of Available-for-sale Securities Reconciliation [Table Text Block]

	September 30, 2015						September 30, 2014
	Aggregate fair value		Amortized/Adjusted cost basis		Pretax unrealized gains		Aggregate fair value		Amortized/Adjusted cost basis		Pretax unrealized gains
Marketable securities
Common stocks	$	158,705,000	$	49,604,000	$	109,101,000	$	165,734,000	$	43,042,000	$	122,692,000
Bonds		7,336,000		4,939,000		2,397,000		7,942,000		4,934,000		3,008,000
	$	166,041,000	$	54,543,000	$	111,498,000	$	173,676,000	$	47,976,000	$	125,700,000

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	September 30, 2015									September 30, 2014
	Customer Relationships			Developed Technology			Total			Customer Relationships			Developed Technology			Total

Gross intangible	$	22,104,000		$	2,525,000		$	24,629,000		$	21,950,000		$	2,525,000		$	24,475,000
Accumulated amortization		(10,406,000	)		(1,233,000	)		(11,639,000	)		(6,004,000	)		(727,000	)		(6,731,000	)
	$	11,698,000		$	1,292,000		$	12,990,000		$	15,946,000		$	1,798,000		$	17,744,000

Valuation and Qualifying Accounts [Table Text Block]

Description	Balance at Beginning of Year		Additions Charged to Costs and Expenses		Accounts Charged off less Recoveries			Balance at End of Year
2015
Allowance for doubtful accounts	$	250,000	$	61,000	$	(61,000	)	$	250,000
2014
Allowance for doubtful accounts	$	250,000	$	41,000	$	(41,000	)	$	250,000
2013
Allowance for doubtful accounts	$	200,000	$	144,000	$	(94,000	)	$	250,000

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Note 3 - Income Taxes (Tables)

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	2015			2014			2013
Current:
Federal	$	458,000		$	1,065,000		$	1,011,000
State		(271,000	)		484,000			(228,000	)
		187,000			1,549,000			783,000
Deferred:
Federal		(1,053,000	)		(1,790,000	)		(30,000	)
State		(254,000	)		(249,000	)		37,000
		(1,307,000	)		(2,039,000	)		7,000
	$	(1,120,000	)	$	(490,000	)	$	790,000

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2015			2014			2013

Statutory federal income tax rate		34.0	%		34.0	%		34.0	%
State franchise taxes (net of federal tax benefit)		(23.3	)		(38.3	)		5.0
State enterprise zone benefits		134.9			---			---
Business meals/gifts		(18.8	)		36.1			1.0
Domestic production activity deduction		(2.2	)		(135.7	)		(2.0	)
Dividends received deduction		225.7			(424.6	)		(10.2	)
Penalties for uncertain and unrecognized tax benefits		---			115.5			---
Prior year true-up		(7.30	)		84.7			---
Foreign tax credits		28.4			(17.9	)		(0.3	)
Effect of state rate change on beginning balance of deferred tax liabilities		(5.0	)		---			(2.4	)
Others		(5.5	)		(1.3	)		(7.8	)
Effective tax rate		360.9	%		(347.5	)%		17.3	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2015			2014			2013
Deferred tax assets attributable to:
Accrued liabilities, including supplemental compensation and vacation pay accrual	$	605,000		$	1,063,000		$	1,083,000
Impairment losses on investments		1,369,000			1,779,000			1,778,000
Bad debt reserves not yet deductible		82,000			78,000			78,000
Depreciation and amortization		3,251,000			1,822,000			356,000
Deferred revenues		1,378,000			1,116,000			---
Credits and other		869,000			12,000			41,000
Total deferred tax assets		7,554,000			5,870,000			3,336,000

Deferred tax liabilities attributable to:
Unrealized gains on investments		(43,278,000	)		(48,896,000	)		(34,610,000	)
Goodwill		(896,000	)		(495,000	)	--- _
Total deferred tax liabilities		(44,174,000	)		(49,391,000	)		(34,610,000	)
Net deferred income taxes	$	(36,620,000	)	$	(43,521,000	)	$	(31,274,000	)

Summary of Income Tax Contingencies [Table Text Block]

Uncertain Tax Liability
	2015			2014		2013

Beginning balance	$	3,244,000		$	---	$	---
Added liability for the prior year		---			2,393,000		---
Added liability for the current year		---			851,000		---
Tax payment upon settlement		---			---		---
Reduced liability for the current year		(253,000	)		---		---
Ending balance	$	2,991,000		$	3,244,000	$	---

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Note 4 - Debts and Commitments (Tables)

Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]

	Payments due by Fiscal Year
	2016		2017		2018		2019		2020		2021 and after		Total
Obligations under operating leases	$	629,000	$	476,000	$	303,000	$	294,000	$	25,000	$	---	$	1,727,000
Long-term accrued liabilities*		---		9,000		6,000		---		---		32,000		47,000
	$	629,000	$	485,000	$	309,000	$	294,000	$	25,000	$	32,000	$	1,774,000

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Note 6 - Reportable Segments (Tables)

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Reportable Segments
	Traditional Business			Journal Technologies			Corporate income and expenses			Total
Fiscal 2015
Revenues
Advertising, net	$	10,502,000		$	---		$	---		$	10,502,000
Circulation		5,915,000			---			---			5,915,000
Advertising service fees and other		2,703,000			---			---			2,703,000
Licensing and maintenance fees		---			13,984,000			---			13,984,000
Consulting fees		---			4,704,000			---			4,704,000
Other public service fees		---			6,170,000			---			6,170,000
Operating expenses		18,038,000			29,452,000			---			47,490,000
Income (loss) from operations		1,082,000			(4,594,000	)		---			(3,512,000	)
Dividends and interest income		---			---			3,829,000			3,829,000
Other income and capital gains		---			---			69,000			69,000
Interest expense on margin loans		---			---			(224,000	)		(224,000	)
Interest expense accrued for uncertain and unrecognized tax benefits		---			(96,000	)		---			(96,000	)
Other-than-temporary impairment losses on investments		---			---			(376,000	)		(376,000	)
Pretax income (loss)		1,082,000			(4,690,000	)		3,298,000			(310,000	)
Income tax benefit		(70,000	)		1,580,000			(390,000	)		1,120,000
Net income (loss)		1,012,000			(3,110,000	)		2,908,000			810,000
Total assets		15,047,000			47,108,000			166,041,000			228,196,000
Capital expenditures		425,000			140,000			---			565,000
Amortization of intangible assets		12,000			4,895,000			---			4,907,000

	Reportable Segments
	Traditional Business			Journal Technologies			Corporate income and expenses			Total
Fiscal 2014
Revenues
Advertising, net	$	11,435,000		$	---		$	---		$	11,435,000
Circulation		6,038,000			---			---			6,038,000
Advertising service fees and other		2,800,000			---			---			2,800,000
Licensing and maintenance fees		---			12,987,000			---			12,987,000
Consulting fees		---			4,002,000			---			4,002,000
Other public service fees		---			6,161,000			---			6,161,000
Operating expenses		17,154,000			28,459,000			---			45,613,000
Income (loss) from operations		3,119,000			(5,309,000	)		---			(2,190,000	)
Dividends and interest income		---			---			3,001,000			3,001,000
Other income and capital gains		---			---			97,000			97,000
Interest expenses		---			---			(230,000	)		(230,000	)
Interest expense accrued for uncertain and unrecognized tax benefits		---			(537,000	)		---			(537,000	)
Pretax income (loss)		3,119,000			(5,846,000	)		2,868,000			141,000
Income tax benefit		(1,460,000	)		2,350,000			(400,000	)		490,000
Net income (loss)		1,659,000			(3,496,000	)		2,468,000			631,000
Total assets		18,228,000			51,973,000			173,676,000			243,877,000
Capital expenditures		110,000			325,000			---			435,000
Amortization of intangible assets		---			4,866,000			---			4,866,000

	Reportable Segments
	Traditional Business			Journal Technologies*			Corporate income and expenses			Total
Fiscal 2013*
Revenues
Advertising, net	$	14,472,000		$	---		$	---		$	14,472,000
Circulation		6,346,000			---			---			6,346,000
Advertising service fees and other		3,012,000			---			---			3,012,000
Licensing and maintenance fees		---			9,942,000			---			9,942,000
Consulting fees		---			3,406,000			---			3,406,000
Other public service fees		---			498,000			---			498,000
Operating expenses		15,856,000			18,031,000			---			33,887,000
Income (loss) from operations		7,974,000			(4,185,000	)		---			3,789,000
Dividends and interest income		---			---			2,541,000			2,541,000
Other income and capital gains		---			---			55,000			54,000
Interest expenses		---			---			(97,000	)		(97,000	)
Other-than-temporary impairment losses on investments		---			---			(1,719,000	)		(1,719,000	)
Pretax income (loss)		7,974,000			(4,185,000	)		780,000			4,569,000
Income tax expense		(3,301,000	)		2,263,000			248,000			(790,000	)
Net income (loss)		4,673,000			(1,922,000	)		1,028,000			3,779,000
Total assets		18,458,000			47,611,000			136,994,000			203,063,000
Capital expenditures		96,000			184,000			---			280,000
Amortization of intangible assets		---			1,865,000			---			1,865,000

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Note 7 - Results of Operations by Quarter (Unaudited) (Tables)

Schedule of Quarterly Financial Information [Table Text Block]

	Quarter ended
	December 31			March 31			June 30			September 30
	(in thousands except per share amounts)
2015
Revenues	$	11,323		$	11,392		$	10,503		$	10,760
Costs and expenses		11,684			12,358			11,636			11,812
Loss from operations		(361	)		(966	)		(1,133	)		(1,052	)
Other income, net		769			795			1,106			532*
Income (loss) before taxes		408			(171	)		(27	)		(520	)
Benefits from income taxes		25			675			60			360
Net income (loss)		433			504			33			(160	)
Basic and diluted net income (loss) per share		.31			.37			.02			(.11	)
2014
Revenues	$	9,951		$	10,828		$	11,147		$	11,497
Costs and expenses		11,220			11,346			11,410			11,637
Loss from operations		(1,269	)		(518	)		(263	)		(140	)
Other income, net		619			591			276			845
Income (loss) before taxes		(650	)		73			13			705
Benefit from (provision for) income taxes		10			(20	)		25			475
Net income (loss)		(640	)		53			38			1,180
Basic and diluted net income (loss) per share		(.46	)		.04			.03			.85

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Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($)

Net of Taxes [Member]

Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net

$ 230,000

New Dawn [Member]

Payments to Acquire Businesses, Gross

$ 14,000,000

Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual

$ 10,403,000

Business Combination Pro Forma Information Expenses Since Acquisition Date Actual

10,625,000

Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual

1,587,000

(222,000)

Business Acquisition, Transaction Costs

$ 96,000

96,000

$ 96,000

Liability for Uncertain Tax Positions, Noncurrent

2,991,000

ISD Corporation [Member] | Deferred Maintenance Agreement [Member]

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue

$ 2,842,000

ISD Corporation [Member]

Goodwill

1,700,000

Payments to Acquire Businesses, Gross

$ 16,000,000

Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual

784,000

Business Combination Pro Forma Information Expenses Since Acquisition Date Actual

694,000

Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual

278,000

90,000

Business Acquisition, Transaction Costs

202,000

Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Tangible Assets

4,410,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents

2,546,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables

1,636,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment

141,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets

87,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles

14,975,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities

5,112,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other

$ 2,270,000

New Dawn and ISD Corporation [Member]

Business Combination, Pro Forma Information, Disclosure Impracticable, Interest Expense

133,000

Business Combination, Pro Forma Information Disclosure Impracticable Intangible Amortization

$ 3,370,000

Customer Relationships [Member]

Finite-Lived Intangible Assets, Net

11,698,000

$ 15,946,000

Finite-Lived Intangible Assets, Accumulated Amortization

10,406,000

6,004,000

Developed Technology Rights [Member]

Finite-Lived Intangible Assets, Net

1,292,000

1,798,000

Finite-Lived Intangible Assets, Accumulated Amortization

$ 1,233,000

$ 727,000

Minimum [Member] | Building and Building Improvements [Member]

Minimum [Member] | Furniture, Office Equipment, and Software [Member]

5 years

Minimum [Member] | Machinery and Equipment [Member]

3 years

3 years

Minimum [Member]

Maximum [Member] | Building and Building Improvements [Member]

3 years

Maximum [Member] | Furniture, Office Equipment, and Software [Member]

39 years

Maximum [Member] | Machinery and Equipment [Member]

5 years

10 years

Maximum [Member]

Product Concentration Risk [Member] | Sales Revenue, Net [Member]

39 years

Concentration Risk, Percentage

57.00%

53.00%

37.00%

Daily Journal Non-Consolidated [Member]

Management Incentive Plan Total Percentage of Pre Tax Earnings

4.13%

3.85%

3.66%

Management Incentive Plan Total Amount Paid

$ 198,915

$ 265,490

$ 351,120

Journal Technologies [Member]

Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net

$ 4,895,000

$ 4,866,000

$ 1,865,000

Management Incentive Plan Total Percentage of Pre Tax Earnings

7.07%

Management Incentive Plan Total Amount Paid

$ 10,600

Daily Journal Consolidated [Member]

Management Incentive Plan Total Percentage of Pre Tax Earnings

8.20%

Management Incentive Plan Total Amount Paid

$ 0

$ 241,240

Management Incentive Plan, Future Commitment [Member]

Other Accrued Liabilities

47,000

780,000

Increase (Decrease) in Other Accrued Liabilities

$ (733,000)

$ (840,000)

Other Accrued Liabilities Impact on Earnings Per Share

$ 0.53

$ 0.61

Finite-Lived Intangible Assets, Amortization Expense, Year Four

$ 0

Goodwill

$ 13,400,000

Unrealized Loss on Securities

Fair Value Inputs, Discount Rate

6.00%

Available-for-sale Securities

$ 166,041,000

173,676,000

Available-for-sale Securities, Gross Unrealized Gain (Loss)

111,498,000

125,700,000

Deferred Tax Liabilities, Investments

Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net

376,000

$ 1,719,000

Payments to Acquire Businesses, Gross

50,000

4,907,000

$ 4,866,000

$ 1,865,000

Finite-Lived Intangible Assets, Net

12,990,000

17,744,000

Finite-Lived Intangible Assets, Accumulated Amortization

$ 11,639,000

6,731,000

Finite-Lived Intangible Asset, Useful Life

5 years

Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months

$ 5,037,000

Finite-Lived Intangible Assets, Amortization Expense, Year Two

4,895,000

Finite-Lived Intangible Assets, Amortization Expense, Year Three

3,058,000

Depreciation, Depletion and Amortization

624,000

650,000

$ 576,000

Liability for Uncertain Tax Positions, Noncurrent

$ 2,991,000

$ 3,244,000

Weighted Average Number of Shares Outstanding, Basic and Diluted

1,380,746

Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period

10 years

[1]

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Note 2 - Investment in Financial Instruments (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Common Stock [Member]
Available-for-sale Securities	$ 158,705,000	$ 165,734,000
Marketable Securities	49,604,000	43,042,000
Available-for-sale Securities, Gross Unrealized Gain (Loss)	109,101,000	122,692,000
Fixed Income Securities [Member]
Available-for-sale Securities	7,336,000	7,942,000
Marketable Securities	4,939,000	4,934,000
Available-for-sale Securities, Gross Unrealized Gain (Loss)	2,397,000	3,008,000
Available-for-sale Securities	166,041,000	173,676,000
Marketable Securities	54,543,000	47,976,000
Available-for-sale Securities, Gross Unrealized Gain (Loss)	$ 111,498,000	$ 125,700,000

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Note 2 - Intangible Assets (Details) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Customer Relationships [Member]
Gross intangible	$ 22,104,000	$ 21,950,000
Accumulated amortization	(10,406,000)	(6,004,000)
	11,698,000	15,946,000
Developed Technology Rights [Member]
Gross intangible	2,525,000	2,525,000
Accumulated amortization	(1,233,000)	(727,000)
	1,292,000	1,798,000
Gross intangible	24,629,000	24,475,000
Accumulated amortization	(11,639,000)	(6,731,000)
	$ 12,990,000	$ 17,744,000

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Note 2 - Allowance for Doubtful Accounts (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Allowance for Doubtful Accounts	$ 250,000	$ 250,000	$ 200,000
Allowance for doubtful accounts	61,000	41,000	144,000
Allowance for doubtful accounts	(61,000)	(41,000)	(94,000)
Allowance for Doubtful Accounts	$ 250,000	$ 250,000	$ 250,000

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Note 3 - Income Taxes (Details Textual) - USD ($)

Domestic Tax Authority [Member] | Earliest Tax Year [Member]

Open Tax Year

2012

State and Local Jurisdiction [Member] | Earliest Tax Year [Member]

Open Tax Year

2011

California Enterprise Zone Credits [Member]

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

$ 400,000

Income Tax Expense (Benefit)

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

Effective Income Tax Rate Reconciliation, Percent

360.90%

(347.50%)

17.30%

Liability for Uncertain Tax Positions, Noncurrent

Increase (Decrease) in Income Taxes Payable

(253,000)

3,244,000

Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense

XML 38 R27.htm IDEA: XBRL DOCUMENT

Note 3 - Provision For Income Taxes (Details) - USD ($)

Current:

Deferred:

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Note 3 - Summary of the Difference Between Statutory Federal Income Tax Rate and Effective Rate (Details)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Statutory federal income tax rate	34.00%	34.00%	34.00%
State franchise taxes (net of federal tax benefit)	(23.30%)	(38.30%)	5.00%
State enterprise zone benefits	134.90%
Business meals/gifts	(18.80%)	36.10%	1.00%
Domestic production activity deduction	(2.20%)	(135.70%)	(2.00%)
Dividends received deduction	225.70%	(424.60%)	(10.20%)
Penalties for uncertain and unrecognized tax benefits		115.50%
Prior year true-up	(7.30%)	84.70%
Foreign tax credits	28.40%	(17.90%)	(0.30%)
Effect of state rate change on beginning balance of deferred tax liabilities	(5.00%)		(2.40%)
Others	(5.50%)	(1.30%)	(7.80%)
Effective tax rate	360.90%	(347.50%)	17.30%

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Note 3 - Deferred Income Taxes (Details) - USD ($)	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Deferred tax assets attributable to:
Accrued liabilities, including supplemental compensation and vacation pay accrual	$ 605,000	$ 1,063,000	$ 1,083,000
Impairment losses on investments	1,369,000	1,779,000	1,778,000
Bad debt reserves not yet deductible	82,000	78,000	78,000
Depreciation and amortization	3,251,000	1,822,000	356,000
Deferred revenues	(1,378,000)	(1,116,000)
Credits and other	869,000	12,000	41,000
Total deferred tax assets	7,554,000	5,870,000	3,336,000
Deferred tax liabilities attributable to:
Unrealized gains on investments	(43,278,000)	(48,896,000)	(34,610,000)
Goodwill	(896,000)	(495,000)
Total deferred tax liabilities	(44,174,000)	(49,391,000)	(34,610,000)
Net deferred income taxes	$ (36,620,000)	$ (43,521,000)	$ (31,274,000)

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Note 3 - Uncertain Tax Liability (Details) - USD ($)	12 Months Ended
Note 3 - Uncertain Tax Liability (Details) - USD ($)	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Beginning balance	$ 3,244,000
Added liability for the prior year		$ 2,393,000
Added liability for the current year		$ 851,000
Tax payment upon settlement
Reduced liability for the current year	$ (253,000)
Ending balance	$ 2,991,000	$ 3,244,000

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Note 4 - Debts and Commitments (Details Textual)			1 Months Ended	12 Months Ended
Note 4 - Debts and Commitments (Details Textual)	Sep. 13, 2013 USD ($)	Dec. 04, 2012 USD ($)	Dec. 31, 2012 USD ($) a ft²	Sep. 30, 2015 USD ($) a	Sep. 30, 2014 USD ($)	Sep. 30, 2013 USD ($)
New Dawn [Member] \| Margin Account [Member]
Proceeds from Other Debt		$ 14,000,000
ISD Corporation [Member] \| Margin Account [Member]
Proceeds from Other Debt	$ 15,500,000
Margin Account [Member] \| Fed Funds Rate [Member]
Debt Instrument, Basis Spread on Variable Rate				0.50%
Margin Account [Member]
Debt Instrument, Interest Rate, Effective Percentage				0.75%
San Francisco Office [Member] \| Monthly Rent [Member]
Operating Leases, Rent Expense				$ 22,000
San Francisco Office [Member]
Lessee Leasing Arrangements, Operating Leases, Renewal Term				5 years
Area of Real Estate Property \| a				6,200
Logan, Utah Office [Member] \| Monthly Rent [Member]
Operating Leases, Rent Expense			$ 42,000
Area of Real Estate Property \| ft²			30,200
Rental Income, Nonoperating			$ 5,000
Corona, CA Office [Member] \| Monthly Rent [Member]
Operating Leases, Rent Expense			$ 12,000
Area of Real Estate Property \| a			7,100
Long Term Accrued Liabilities [Member]
Fair Value Inputs, Discount Rate				6.00%
Proceeds from Other Debt						$ 29,493,000
Operating Leases, Rent Expense				$ 1,171,000	$ 1,182,000	$ 884,000
Fair Value Inputs, Discount Rate				6.00%

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Note 4 - Future Obligations (Details)

Payments due by Fiscal Year 2016

USD ($)

$ 629,000

Payments due by Fiscal Year 2017

476,000

Payments due by Fiscal Year 2018

303,000

Payments due by Fiscal Year 2019

294,000

Payments due by Fiscal Year 2020

$ 25,000

Payments due by Fiscal Year 2021 and after

Payments due by Fiscal Year Total

$ 1,727,000

Payments due by Fiscal Year 2017

9,000

Payments due by Fiscal Year 2018

6,000

Payments due by Fiscal Year 2021 and after

32,000

Payments due by Fiscal Year Total

47,000

Payments due by Fiscal Year 2016

629,000

Payments due by Fiscal Year 2017

485,000

Payments due by Fiscal Year 2018

309,000

Payments due by Fiscal Year 2019

294,000

Payments due by Fiscal Year 2020

25,000

Payments due by Fiscal Year 2021 and after

32,000

Payments due by Fiscal Year Total

$ 1,774,000

[1]	The long-term accrued liabilities are discounted to the present value using a discount rate of 6%.

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Note 6 - Reportable Segments (Details Textual)

Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual

$ 10,403,000

Business Combination Pro Forma Information Expenses Since Acquisition Date Actual

10,625,000

Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual

$ 1,587,000

ISD Corporation [Member]

$ 784,000

Business Combination Pro Forma Information Expenses Since Acquisition Date Actual

694,000

Number of Reportable Segments

$ 278,000

278,000

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Note 6 - Summarized Financial Information for Reportable Segments (Details)

Traditional Business [Member]

$ 2,703,000

$ 2,800,000

$ 3,012,000

Consulting fees

$ 1,082,000

$ 3,119,000

$ 7,974,000

Interest expense accrued for uncertain and unrecognized tax benefits

Other-than-temporary impairment losses on investments

425,000

$ 110,000

$ 96,000

$ 12,000

Journal Technologies [Member]

Advertising, net

Circulation

$ (4,594,000)

$ (5,309,000)

$ (4,185,000)

Interest expense accrued for uncertain and unrecognized tax benefits

$ (96,000)

$ (537,000)

Other-than-temporary impairment losses on investments

140,000

325,000

184,000

$ 4,895,000

$ 4,866,000

$ 1,865,000

Corporate, Non-Segment [Member]

Advertising, net

Circulation

Consulting fees

Operating expenses

$ 3,829,000

$ 3,001,000

$ 2,541,000

69,000

97,000

55,000

$ (224,000)

$ (230,000)

(97,000)

Interest expense accrued for uncertain and unrecognized tax benefits

(1,719,000)

Other-than-temporary impairment losses on investments

2,703,000

2,800,000

3,012,000

(3,512,000)

(2,190,000)

3,789,000

3,829,000

3,001,000

2,541,000

65,000

97,000

54,000

(224,000)

(230,000)

(97,000)

Interest expense accrued for uncertain and unrecognized tax benefits

(96,000)

$ (537,000)

(1,719,000)

Other-than-temporary impairment losses on investments

565,000

435,000

280,000