| Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 | Sep'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||
Net income (loss) | ||||||||||
9,745 | -21,751 | -10,190 | 5,020 | 30,486 | 3,751 | 21,577 | 50,182 | 31,128 | 8,875 | -52,322 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||||||
Depreciation | ||||||||||
18,871 | 22,627 | 21,601 | 20,533 | 18,997 | 15,861 | 13,744 | 12,520 | 11,528 | 11,316 | 10,450 |
Amortization | ||||||||||
255 | 527 | 496 | 503 | 511 | 416 | 416 | 423 | 561 | 559 | 993 |
Pension and post-retirement expense - U.S. and U.K. | ||||||||||
8,819 | 14,110 | 23,435 | 19,048 | 12,592 | 10,293 | 16,173 | 15,590 | 11,936 | - | - |
Change in long-term obligations | ||||||||||
316 | -7 | -15 | 73 | -498 | -22 | -153 | -245 | - | - | - |
Impairment of goodwill | ||||||||||
- | - | - | - | - | - | - | - | - | - | 43,737 |
Stock compensation expense | ||||||||||
2,575 | 2,320 | 2,109 | 1,980 | 2,184 | 1,769 | 1,254 | 2,079 | 1,752 | 1,537 | 1,309 |
Deferred revenue | ||||||||||
-2,500 | -2,500 | -7,488 | - | - | - | - | - | - | - | - |
Excess tax expense from restricted stock vesting | ||||||||||
- | - | - | -153 | -55 | 614 | 494 | 1,147 | 166 | - | -21 |
Deferred revenue | ||||||||||
- | - | - | 2,488 | -2,500 | -2,500 | -2,500 | -2,500 | -2,500 | -2,500 | -2,501 |
Deferred income taxes | ||||||||||
1,872 | 23,115 | -10,072 | 1,428 | 2,810 | -1,954 | 6,171 | 5,658 | 9,044 | 2,661 | 3,887 |
Loss on disposition of property | ||||||||||
-138 | -250 | -612 | -438 | -399 | -500 | -418 | -203 | -145 | -232 | -169 |
Restricted cash | ||||||||||
- | - | - | 5,446 | - | - | - | - | - | - | - |
Change in assets and liabilities: | ||||||||||
Accounts receivable | ||||||||||
5,002 | 12,590 | -755 | -10,965 | 5,011 | -9,893 | -18,630 | 12,700 | 24,806 | 15,786 | -50,901 |
Inventories | ||||||||||
-11,702 | 29,905 | 6,982 | -6,611 | -4,073 | 22,275 | -31,507 | 12,326 | 17,859 | 49,483 | -120,980 |
Other assets | ||||||||||
1,080 | 2,120 | -287 | -237 | -117 | 336 | 1,324 | -1,309 | -805 | 2,130 | -2,035 |
Accounts payable and accrued expenses | ||||||||||
-204 | 10,220 | 3,476 | -1,782 | -8,685 | 15,722 | -12,165 | -17,242 | 17,966 | 10,481 | -14,234 |
Income taxes | ||||||||||
5,534 | -7,406 | 709 | 3,773 | -99 | 2,522 | 341 | -5 | -1,540 | 23,653 | -31,553 |
Accrued pension and postretirement benefits | ||||||||||
-7,994 | -10,627 | -11,052 | -12,035 | -7,036 | -6,080 | -20,191 | -21,018 | -18,390 | -8,434 | -13,890 |
Net cash provided by (used in) operating activities | ||||||||||
43,047 | -13,737 | 7,681 | 53,987 | 48,395 | 26,946 | 73,404 | 20,781 | 19,604 | -19,019 | 119,982 |
Cash flows from investing activities: | ||||||||||
Additions to property, plant and equipment | ||||||||||
10,041 | 11,085 | 15,006 | 31,633 | 18,546 | 39,694 | 41,550 | 25,937 | 14,445 | 12,340 | 9,303 |
Acquisition of Leveltek LaPorte assets | ||||||||||
- | - | - | - | 14,600 | - | - | - | - | - | - |
Change in restricted cash | ||||||||||
- | - | - | - | - | - | - | - | -110 | -110 | -110 |
Net cash provided by (used in) investing activities | ||||||||||
-10,041 | -11,085 | -15,006 | -31,633 | -33,146 | -39,694 | -41,550 | -25,937 | -14,335 | -12,230 | -9,193 |
Cash flows from financing activities: | ||||||||||
Revolving credit facility repayments | ||||||||||
16,600 | 4,200 | - | - | - | - | - | - | - | - | - |
Dividends paid | ||||||||||
11,011 | 11,013 | 11,009 | 10,988 | 10,952 | 10,906 | 10,849 | 10,803 | 9,758 | 9,707 | - |
Net decrease in revolving credit facility | ||||||||||
- | - | - | - | - | - | - | - | - | - | 11,812 |
Proceeds from exercise of stock options | ||||||||||
215 | - | - | 310 | - | 1,063 | 598 | 1,635 | 706 | - | 976 |
Payment for purchase of treasury stock | ||||||||||
370 | 223 | 266 | 289 | 251 | 335 | 505 | - | - | - | - |
Excess tax expense from restricted stock vesting | ||||||||||
- | - | - | -153 | -55 | 614 | 494 | 1,147 | 166 | - | -21 |
Payment for debt issuance cost | ||||||||||
- | - | - | 291 | - | - | - | - | 330 | - | 316 |
Payments on long-term obligation | ||||||||||
150 | 258 | 166 | 91 | 173 | - | 100 | 123 | 85 | 159 | -1,505 |
Net cash provided by (used in) financing activities | ||||||||||
-11,316 | -11,494 | -11,441 | -11,502 | -11,431 | -9,564 | -10,362 | -8,144 | -9,301 | -9,866 | -12,678 |
Effect of exchange rates on cash | ||||||||||
-454 | -210 | 351 | -600 | -644 | -143 | 94 | -22 | 126 | -12 | -74 |
Increase (decrease) in cash and cash equivalents: | ||||||||||
21,236 | -36,526 | -18,415 | 10,252 | 3,174 | -22,455 | 21,586 | -13,322 | -3,906 | -41,127 | 98,037 |
Supplemental disclosures of cash flow information: | ||||||||||
Interest (net of capitalized interest) | ||||||||||
928 | 860 | 807 | 486 | 347 | 3 | 7 | 22 | 33 | 40 | 566 |
Income taxes paid (refunded), net | ||||||||||
-3,650 | 1,965 | 2,335 | -6,471 | 14,017 | 811 | 3,578 | 21,341 | 10,736 | -19,460 | 20,869 |
Capital expenditures incurred, but not yet paid | ||||||||||
490 | 703 | 1,910 | 1,869 | 1,741 | 1,293 | 2,890 | 2,360 | 1,539 | 916 | 606 |
Dividends declared but not yet paid | ||||||||||
26 | 14 | - | - | - | - | - | - | - | - | - |
Lease obligation incurred | ||||||||||
- | - | 4,100 | - | 4,500 | - | - | - | - | - | - |