| Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 |
|---|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||
Net income | |||||||||
4,747 | 10,410 | 81 | 4,786 | -10,186 | -15,071 | -9,530 | 6,694 | 6,760 | 4,655 |
Less: Loss on discontinued operations, net | |||||||||
- | - | - | - | -6,415 | - | - | - | - | - |
Income/(loss) from continuing operations | |||||||||
- | - | - | - | -3,771 | - | - | - | - | - |
Non-cash adjustments: | |||||||||
Stock-based compensation | |||||||||
567 | 489 | 460 | 443 | 2,037 | 542 | 589 | 595 | 489 | 282 |
Incentive compensation shares returned | |||||||||
- | - | - | 60 | 0 | - | - | - | - | - |
Depreciation and amortization | |||||||||
2,832 | 2,351 | 2,609 | 3,154 | 3,859 | 4,846 | 4,795 | 4,297 | 3,257 | 1,224 |
Gain on corporate acquisition | |||||||||
- | - | - | - | - | - | - | - | 170 | 418 |
Change in reserve for doubtful accounts | |||||||||
-14 | 10 | - | - | - | - | - | 101 | 70 | - |
Goodwill and Intangible Asset Impairment | |||||||||
- | - | - | - | - | 0 | 14,217 | 0 | - | - |
Change in reserve for doubtful accounts | |||||||||
- | - | -151 | 96 | -38 | 73 | 105 | - | - | - |
Inventory Write-down | |||||||||
-81 | 123 | -111 | -112 | 87 | - | - | - | - | - |
Change in contingent consideration | |||||||||
- | - | - | - | - | - | - | -1,096 | 0 | - |
Directors fees paid in stock | |||||||||
- | - | - | - | - | 0 | 10 | 37 | 37 | - |
Directors' fees paid in stock | |||||||||
- | - | - | - | - | - | - | - | - | 32 |
Loss on sale of property, plant and equipment | |||||||||
- | - | -4 | -1 | -12 | -2 | 8 | -14 | -3 | 8 |
Deferred tax expense/(benefit) | |||||||||
1,577 | -8,855 | 0 | - | - | 13,034 | -5,651 | 3,248 | 2,920 | 2,151 |
Amortization of Deferred Charges | |||||||||
-114 | -83 | -61 | 0 | - | - | - | - | - | - |
Increase (Decrease) in Operating Capital [Abstract] | |||||||||
Accounts receivable | |||||||||
2,436 | 7,291 | 596 | -7,687 | 2,538 | -5,525 | 4,857 | 3,871 | 1,656 | 1,426 |
Increase (Decrease) in Unbilled Receivables | |||||||||
5,196 | 0 | - | - | - | - | - | - | - | - |
Inventories | |||||||||
13,828 | 18,644 | 110 | -10,481 | 5,360 | 622 | 4,207 | 1,604 | 1,129 | 937 |
Federal income tax receivable | |||||||||
517 | 0 | - | - | - | - | - | - | - | - |
Other current assets | |||||||||
-293 | 729 | -196 | -230 | -1,343 | 2,987 | 209 | 77 | 2,746 | 59 |
Other long-term assets | |||||||||
434 | 333 | 0 | -17 | -231 | -15 | 264 | 0 | - | - |
Accounts payable | |||||||||
-2,670 | 13,540 | 1,624 | -7,472 | 604 | 902 | 811 | 2,947 | 4,045 | 2,620 |
Change in book overdraft position | |||||||||
-2,329 | 2,103 | 558 | 0 | - | - | - | - | - | - |
Accrued expenses | |||||||||
1,588 | 797 | -2,437 | 238 | -763 | 936 | -347 | -321 | 594 | -96 |
Customer deposits | |||||||||
5,634 | 5,984 | -145 | -4,005 | 4,208 | 1,366 | 41 | -186 | 332 | -190 |
Other long-term liabilities | |||||||||
-75 | -75 | -162 | -211 | -118 | 541 | 167 | 0 | - | - |
Net cash flows from operating activities-continuing operations | |||||||||
- | - | - | - | -207 | - | - | - | - | - |
Net cash flows from operating activities-discontinued operations | |||||||||
- | - | - | - | -942 | - | - | - | - | - |
Net cash flows provided by/(used in) operating activities | |||||||||
-10,456 | -203 | 1,759 | 15,273 | -1,149 | 9,102 | -4,338 | 12,970 | 12,806 | 7,830 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||
Purchases of property, plant and equipment | |||||||||
2,118 | 3,934 | 3,533 | 3,256 | 2,734 | 4,465 | 5,103 | 3,080 | 4,876 | 2,172 |
Grant proceeds from outside parties | |||||||||
- | - | - | - | 698 | - | - | - | - | - |
Proceeds from disposal of property, plant and equipment | |||||||||
20 | 5 | 5 | 0 | 0 | 323 | 21 | 46 | -3 | - |
Proceeds from sale-leaseback | |||||||||
0 | 1,947 | 5,750 | 17 | - | - | - | - | - | - |
Net cash flows from investing activities-continuing operations | |||||||||
- | - | - | - | -2,036 | - | - | - | - | - |
Net cash flows from investing activities-discontinued operations | |||||||||
- | - | - | - | 2,336 | - | - | - | - | - |
Proceeds from (net cost of) disposal of fixed assets | |||||||||
- | - | - | - | - | - | - | - | - | -10 |
Acquisition of SCB, cash portion (see SCB Acquisition note) | |||||||||
- | - | - | - | - | - | - | - | 24,553 | - |
Acquisition of Celmet (see Acquisitions note) | |||||||||
- | - | - | - | - | - | - | - | - | 1,898 |
Acquisition of Albuquerque | |||||||||
- | - | - | - | - | - | - | - | -170 | 14,932 |
Net cash flows used in investing activities | |||||||||
-2,098 | -1,982 | 2,222 | -3,239 | 300 | -4,142 | -5,082 | -3,034 | -29,262 | -18,992 |
CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||
Advances from revolving credit facility | |||||||||
81,225 | 62,380 | 46,851 | 56,084 | 66,888 | 56,016 | 60,815 | 62,563 | 63,889 | 56,524 |
Repayments of revolving credit facility | |||||||||
67,575 | 58,153 | 42,043 | 64,538 | 61,904 | 59,846 | 47,266 | 63,173 | 62,514 | 54,582 |
Borrowings under other loan agreements | |||||||||
391 | 1,150 | 0 | - | - | 1,300 | 24,000 | 0 | 20,840 | 11,316 |
Repayments under other loan agreements | |||||||||
1,231 | 2,921 | 9,396 | 2,908 | 5,140 | 2,887 | 28,382 | 6,862 | 6,004 | 2,207 |
Payments under finance lease | |||||||||
310 | 244 | 173 | 0 | - | - | - | - | - | - |
Payments of Debt Issuance Costs | |||||||||
55 | 75 | 89 | 241 | 0 | 2 | 39 | 0 | - | - |
Proceeds from exercise of stock options | |||||||||
101 | 6 | 0 | 2 | 36 | 19 | 60 | 134 | 347 | 187 |
Proceeds from employee stock plan purchases | |||||||||
60 | 50 | 27 | 7 | 0 | 0 | 98 | 64 | 23 | - |
Cash paid for employee taxes upon vesting of restricted stock | |||||||||
53 | 8 | 3 | 2 | 604 | 79 | 29 | 0 | - | - |
Net cash flows from financing activities-continuing operations | |||||||||
- | - | - | - | -724 | - | - | - | - | - |
Net cash flows from financing activities-discontinued operations | |||||||||
- | - | - | - | 0 | - | - | - | - | - |
Restricted (non-vested) stock grants, net of forfeitures | |||||||||
1 | 0 | - | - | - | - | - | - | - | 8 |
Financing costs capitalized | |||||||||
- | - | - | - | - | - | - | - | 125 | 84 |
Net cash flows (used in)/provided by financing activities | |||||||||
12,554 | 2,185 | -4,826 | -11,596 | -724 | -5,479 | 9,257 | -7,274 | 16,456 | 11,162 |
Net cash change for the period | |||||||||
0 | 0 | - | - | - | - | - | - | - | - |
Net cash change for the period | |||||||||
- | - | -845 | 438 | -1,573 | -519 | -163 | 2,662 | 0 | 0 |
Supplemental Cash Flow Information [Abstract] | |||||||||
Interest paid | |||||||||
1,623 | 1,151 | - | - | - | - | - | - | - | - |
Interest paid | |||||||||
- | - | 922 | 1,356 | 1,567 | 1,556 | 1,176 | 1,106 | 1,499 | 769 |
Income taxes paid | |||||||||
7 | 7 | 127 | 3 | 3 | 9 | 367 | 326 | 309 | 297 |
Property, plant and equipment additions financed through capital lease | |||||||||
0 | 2,000 | 5,750 | 0 | - | - | - | - | - | - |
Incentive compensation shares returned | |||||||||
- | - | - | - | 0 | 322 | 0 | - | - | - |
100,000 common shares issued in SCB acquisition | |||||||||
- | - | - | - | - | - | - | - | 609 | - |
Stock options exercised by delivering common shares | |||||||||
- | - | - | - | - | - | - | - | 22 | - |