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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]  
Schedule of Property, Plant and Equipment by Major Asset Class
The Company's property, plant and equipment assets by major asset class at September 30 consist of:
 
 
2019
 
2018
Property, plant and equipment:
 
 
 
 
Land
 
$
964

 
$
995

Buildings
 
15,805

 
15,365

Machinery and equipment
 
82,379

 
76,465

Total property, plant and equipment
 
99,148

 
92,825

Less: Accumulated depreciation
 
59,538

 
57,435

Property, plant and equipment, net
 
$
39,610

 
$
35,390
Dilutive Effect of The Company's Restricted Shares, and Performance Shares
The dilutive effect is as follows:
 
 
September 30,
 
 
2019
 
2018
Net loss
 
$
(7,506
)
 
$
(7,170
)
 
 
 
 
 
Weighted-average common shares outstanding (basic and diluted)
 
5,566

 
5,523

 
 
 
 
 
Net loss per share – basic and diluted:
 
 
 
 
Net loss per share
 
$
(1.35
)
 
$
(1.30
)
 
 
 
 
 
Anti-dilutive weighted-average common shares excluded from calculation of diluted earnings per share
 
196

 
144
Schedule of Effects of Adoption 2014-09
The cumulative effect of changes made to the balance sheet as of October 1, 2018 for the adoption of the revenue standard was as follows:
 
 
Balance at September 30, 2018
 
Effect of Accounting Change
 
Balance at October 1, 2018
Assets
 
 
 
 
 
 
  Contract asset
 
$
—

 
$
10,140

 
$
10,140

  Inventory, net
 
18,269

 
(6,542)
 
11,727

Liabilities & Shareholders' Equity
 
 
 
 
 
 
  Retained earnings
 
37,097

 
3,598

 
40,695


As part of the cumulative effect of the accounting change made as it pertains to the inventory, net line, the impact includes a reduction to the Company's LIFO reserve in the amount of $508 and excess and obsolete reserve of $366. As noted in Note 2, Inventories, of the consolidated financial statements, a portion of the Company's inventory is on LIFO.

The following tables reflect the changes to the financial statements line items as a result to the revenue standard. The adoption of the revenue standard did not have an impact on "net cash provided by operating activities" on the consolidated statement of cash flows as of September 30, 2019.

Consolidated statement of operations for the year end September 30, 2019:
 
 
Previous Accounting Method
 
Effect of Accounting Change
 
As Reported
Net Sales
 
$
112,090

 
$
364

 
$
112,454

Cost of Goods Sold
 
102,276

 
(459
)
 
101,817

Net loss
 
(8,329
)
 
823

 
(7,506
)
Basic and diluted net loss per share
 
$
(1.50
)
 
$
0.15

 
$
(1.35
)








Consolidated balance sheet as of September 30, 2019:
 
 
Previous Accounting Method
 
Effect of Accounting Change
 
As Reported
Assets
 
 
 
 
 
 
  Contract asset
 
$
—

 
$
10,349

 
$
10,349

  Inventory, net
 
16,592

 
(6,083
)
 
10,509

Liabilities & Shareholders' Equity
 
 
 
 
 
 
  Contract liabilities (included within accrued liabilities)
 
537

 
(155
)
 
382

  Deferred income taxes
 
1,718

 
—

 
1,718

  Retained earnings
 
28,727

 
4,421

 
33,148
Components of Accumulated Other Comprehensive Loss
The components of accumulated other comprehensive loss as shown on the consolidated balance sheets at September 30 are as follows:
 
2019
 
2018
Foreign currency translation adjustment, net of income tax benefit of $0 and $0, respectively
$
(5,667
)
 
$
(4,955
)
Net retirement plan liability adjustment, net of income tax benefit of ($3,758) and ($3,758), respectively
(7,642
)
 
(3,674
)
Total accumulated other comprehensive loss
$
(13,309
)
 
$
(8,629
)













The following table provides additional details of the amounts recognized into net earnings from accumulated other comprehensive loss, net of tax:
 
Foreign Currency Translation Adjustment
 
Retirement Plan Liability Adjustment
 
Interest Rates Swap Adjustment
 
Accumulated Other Comprehensive Loss
Balance at September 30, 2017
$
(4,607
)
 
$
(4,648
)
 
$
4

 
$
(9,251
)
Other comprehensive income (loss) before reclassifications
(348
)
 
333

 
19

 
4

Amounts reclassified from accumulated other comprehensive income (loss)
—

 
641

 
(23
)
 
618

  Net current-period other comprehensive loss
(348
)
 
974

 
(4
)
 
622

 
 
 
 
 
 
 
 
Balance at September 30, 2018
(4,955
)
 
(3,674
)
 
—

 
(8,629
)
Other comprehensive loss before reclassifications
(712
)
 
(4,643
)
 
—

 
(5,355
)
Amounts reclassified from accumulated other comprehensive income
—

 
675

 
—

 
675

  Net current-period other comprehensive loss
(712
)
 
(3,968
)
 
—

 
(4,680
)
Balance at September 30, 2019
$
(5,667
)
 
$
(7,642
)
 
$
—

 
$
(13,309
)
Reclassification Out of Accumulated Other Comprehensive Loss
The following table reflects the changes in accumulated other comprehensive loss related to the Company for September 30, 2019 and 2018:
 
 
Amount reclassified from accumulated other comprehensive loss
 
 
Details about accumulated other comprehensive loss components
 
2019
 
2018
 
Affected line item in the Consolidated Statement of Operations
 
 
 
 
 
 
 
Amortization of Retirement plan liability:
 
 
 
 
 
 
Prior service costs
 
$
—

 
$
—

 
(1)
Net actuarial gain (loss)
 
(4,214
)
 
974

 
(1)
Settlements/curtailments
 
246

 
—

 
(1)
 
 
(3,968
)
 
974

 
Total before taxes
 
 
—

 
—

 
Income tax expense
 
 
$
(3,968
)
 
$
974

 
Net of taxes
 
 
 
 
 
 
 
(1) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost. See Note 8, Retirement Benefit Plans, of the consolidated financial statements for further information.