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Stock-Based Compensation Plans (Tables)
12 Months Ended
Sep. 30, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock-Based Compensation Expenses The Company’s stock-based compensation expenses for the years ended September 30 were allocated to the following expense categories

 

 

 

2018

 

 

2017

 

 

2016

 

Product costs

 

$

69

 

 

$

90

 

 

$

22

 

Research and development

 

 

801

 

 

 

510

 

 

 

324

 

Selling, general and administrative

 

 

3,937

 

 

 

2,872

 

 

 

3,498

 

Total stock-based compensation expense

 

$

4,807

 

 

$

3,472

 

 

$

3,844

 

Assumptions Used in Stock Option Plans The assumptions used as inputs in the model for the years ended September 30 were as follows:

 

 

 

2018

 

 

2017

 

 

2016

 

Risk-free interest rates

 

 

2.18

%

 

 

1.74

%

 

 

1.89

%

Expected life

 

4.8 years

 

 

4.6 years

 

 

4.6 years

 

Expected volatility

 

 

33

%

 

 

34

%

 

 

37

%

Dividend yield

 

 

0

%

 

 

0

%

 

 

0

%

Schedule of Stock Option Activity

The following table summarizes all stock options activity and stock options outstanding and exercisable under the stock option plans during fiscal 2018, 2017 and 2016:

 

 

 

Number of

Shares

 

 

Weighted

Average

Exercise Price

 

Outstanding at September 30, 2015

 

 

1,118,008

 

 

$

20.10

 

Granted

 

 

241,582

 

 

 

20.63

 

Exercised

 

 

(437,850

)

 

 

15.68

 

Forfeited and expired

 

 

(94,415

)

 

 

31.52

 

Outstanding at September 30, 2016

 

 

827,325

 

 

 

21.30

 

Granted

 

 

229,039

 

 

 

24.08

 

Exercised

 

 

(6,819

)

 

 

13.89

 

Forfeited and expired

 

 

(47,640

)

 

 

30.65

 

Outstanding at September 30, 2017

 

 

1,001,905

 

 

 

21.54

 

Granted

 

 

269,961

 

 

 

34.08

 

Exercised

 

 

(450,495

)

 

 

19.46

 

Forfeited and expired

 

 

(110,825

)

 

 

30.18

 

Outstanding at September 30, 2018

 

 

710,546

 

 

 

26.28

 

Exercisable at September 30, 2018

 

 

236,302

 

 

$

22.33

 

Schedule of Restricted Stock Awards Activity

The following table summarizes all restricted stock awards activity during fiscal 2018, 2017 and 2016:

 

 

 

Number of

Shares

 

 

Weighted

Average

Grant Price

 

Balance at September 30, 2015

 

 

27,775

 

 

$

22.12

 

Granted

 

 

20,108

 

 

 

20.14

 

Vested

 

 

(12,311

)

 

 

22.19

 

Forfeited

 

 

(2,439

)

 

 

21.17

 

Balance at September 30, 2016

 

 

33,133

 

 

 

20.96

 

Granted

 

 

51,559

 

 

 

25.12

 

Vested

 

 

(14,497

)

 

 

21.10

 

Forfeited

 

 

(2,278

)

 

 

25.12

 

Balance at September 30, 2017

 

 

67,917

 

 

 

23.98

 

Granted

 

 

56,244

 

 

 

34.38

 

Vested

 

 

(28,717

)

 

 

23.78

 

Forfeited

 

 

(10,020

)

 

 

29.10

 

Balance at September 30, 2018

 

 

85,424

 

 

$

30.30

 

Schedule of Fair Value at the Date of Grant

The aggregate number of shares that could be awarded to key employees if the minimum, target and maximum performance goals are met, based upon the fair value at the date of grant is as follows:

 

Performance Period

 

Minimum Shares

 

 

Target Shares

 

 

Maximum Shares

 

Fiscal 2016 - 2018

 

 

11,910

 

 

 

59,548

 

 

 

119,096

 

Fiscal 2017 - 2019

 

 

9,352

 

 

 

46,758

 

 

 

93,516