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Consolidated Condensed Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2017
Sep. 30, 2016
Assets    
Cash and cash equivalents $ 3,885,330 $ 4,508,126
Accounts receivable, net of allowance for doubtful accounts of $250,000 5,320,216 4,278,855
Income tax receivable 367,112 480,837
Inventories, net of allowance for excess and obsolete inventory of $2,855,445 and $2,570,868, respectively 22,118,030 21,524,919
Prepaid expenses 428,309 323,289
Total current assets 32,118,997 31,116,026
Land and buildings 7,218,678 7,218,678
Machinery and equipment 3,981,476 3,833,230
Leasehold improvements 202,017 151,957
Total property and equipment, at cost 11,402,171 11,203,865
Less: Accumulated depreciation (5,210,987) (4,993,102)
Net property and equipment 6,191,184 6,210,763
Investment in and loans to equity method investee 361,237 2,588,624
Intangibles, net of accumulated amortization 9,174,109 4,973,669
Goodwill 6,031,511 3,910,089
Deferred income taxes 1,358,000 1,333,000
Other assets 136,412 135,988
Total assets 55,371,450 50,268,159
Liabilities and Shareholders’ Equity    
Accounts payable 2,816,766 1,857,953
Accrued expenses 1,130,947 1,324,652
Notes payable – current portion 2,193,701 899,603
Other current liabilities 656,607 963,127
Total current liabilities 6,798,021 5,045,335
Notes payable, less current portion 5,179,127 3,466,358
Other liabilities 1,406,134 131,410
Total liabilities 13,383,282 8,643,103
Shareholders’ equity:    
Common stock, $.01 par value; 30,000,000 shares authorized; 10,692,902 and 10,634,893 shares issued, respectively; 10,192,244 and 10,134,235 shares outstanding, respectively 106,929 106,349
Paid in capital (4,782,091) (4,916,791)
Retained earnings 47,663,344 47,435,512
Total shareholders’ equity before treasury stock 42,988,182 42,625,070
Less: Treasury stock, 500,658 shares, at cost (1,000,014) (1,000,014)
Total shareholders’ equity 41,988,168 41,625,056
Total liabilities and shareholders’ equity $ 55,371,450 $ 50,268,159