IES (IESC) 10-Q 7 Aug 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jun. 30, 2015	Aug. 05, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	Integrated Electrical Services, Inc.
Entity Central Index Key	1,048,268
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--09-30
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		21,515,216
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
TradingSymbol	IESC

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
CURRENT ASSETS:
Cash and cash equivalents	$ 44,816	$ 47,342
Accounts receivable:
Trade, net of allowance of $669 and $780, respectively	82,520	77,459
Retainage	16,811	15,442
Inventories	13,753	16,048
Costs and estimated earnings in excess of billings on uncompleted contracts	12,764	8,591
Prepaid expenses and other current assets	4,372	3,075
Total current assets	175,036	167,957
PROPERTY AND EQUIPMENT, net	11,909	10,188
GOODWILL	16,525	14,993
INTANGIBLE ASSETS, net of amortization	4,883	3,503
OTHER NON-CURRENT ASSETS, net	4,153	4,467
Total assets	212,506	201,108
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses	74,339	74,032
Billings in excess of costs and estimated earnings on uncompleted contracts	26,731	21,852
Total current liabilities	101,070	95,884
LONG-TERM DEBT, net of current maturities	10,214	10,208
OTHER NON-CURRENT LIABILITIES	7,109	7,044
Total liabilities	118,393	113,136
STOCKHOLDERS' EQUITY:
Preferred stock, $0.01 par value, 10,000,000 shares authorized, none issued	0	0
Common stock, $0.01 par value, 100,000,000 shares authorized; 22,049,529 and 22,049,529 shares issued and 21,526,169 and 21,767,700 outstanding, respectively	220	220
Treasury stock, at cost, 523,360 and 281,829 shares, respectively	(4,049)	(2,394)
Additional paid-in capital	193,454	194,719
Accumulated other comprehensive income	0	(2)
Retained deficit	(95,512)	(104,571)
Total stockholders' equity	94,113	87,972
Total liabilities and stockholders' equity	$ 212,506	$ 201,108

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
Consolidated Balance Sheets [Abstract]
Trade, allowance	$ 669	$ 780
Preferred stock, par value	$ 0.01
Preferred stock, shares authorized	10,000,000
Common stock, par value	$ 0.01
Common stock, shares authorized	100,000,000
Common stock, shares issued	22,049,529	22,049,529
Common stock, shares outstanding	21,526,169	21,767,700
Treasury stock, shares	523,360	281,829

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Revenues	$ 144,082	$ 136,192	$ 414,170	$ 376,537
Cost of services	119,030	113,526	344,707	315,728
Gross profit	25,052	22,666	69,463	60,809
Selling, general and administrative expenses	20,546	19,110	58,653	55,855
Gain (loss) on sale of assets	(47)	(10)	(40)	(73)
Income from operations	4,553	3,566	10,850	5,027
Interest and other (income) expense:
Interest expense	261	348	860	1,267
Other (income) expense, net	(9)	1	(208)	(211)
Income from operations before income taxes	4,301	3,217	10,198	3,971
Provision (benefit) for income taxes	339	422	908	465
Net income from continuing operations	3,962	2,795	9,290	3,506
Net loss from discontinued operations	(5)	(122)	(231)	(313)
Net income	3,957	2,673	9,059	3,193
Unrealized loss on interest hedge, net of tax	0	(14)	0	(21)
Comprehensive income	$ 3,957	$ 2,659	$ 9,059	$ 3,172
Basic earnings (loss) per share:
From continuing operations	$ 0.19	$ 0.15	$ 0.43	$ 0.19
From discontinued operations	0	(0.01)	(0.01)	(0.02)
Basic	0.19	0.14	0.42	0.17
Diluted earnings (loss) per share:
From continuing operations	0.19	0.15	0.43	0.19
From discontinued operations	0	(0.01)	(0.01)	(0.02)
Diluted	$ 0.19	$ 0.14	$ 0.42	$ 0.17
Shares used in the computation of earnings (loss) per share
Basic	21,319,444	18,464,933	21,542,289	18,450,935
Diluted	21,370,634	18,521,628	21,589,437	18,509,984

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 9,059	$ 3,193
Adjustments to reconcile net income to net cash provided by operating activities:
Bad debt expense	10	45
Deferred financing cost amortization	230	309
Depreciation and amortization	1,806	1,891
Loss on Sales of Assets	15	112
Non-cash compensation expense	325	560
Changes in operating assets and liabilities
Accounts receivable	(4,072)	(3,611)
Inventories	2,751	4,715
Costs and estimated earnings in excess of billings	(4,173)	(2,250)
Prepaid expenses and other current assets	(3,047)	1,866
Other non-current assets	109	693
Accounts payable and accrued expenses	(1,876)	(2,809)
Billings in excess of costs and estimated earnings	4,880	809
Other non-current liabilities	194	173
Net cash provided by operating activities	6,211	5,696
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(2,385)	(1,422)
Consideration for acquisition, net of cash acquired	(3,112)	0
Net cash used in investing activities	(5,497)	(1,422)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings of debt	6	0
Repayments of debt	0	(2,627)
Purchase of treasury stock	(3,246)	(161)
Net cash used in financing activities	(3,240)	(2,788)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(2,526)	1,486
CASH AND CASH EQUIVALENTS, beginning of period	47,342	20,757
CASH AND CASH EQUIVALENTS, end of period	44,816	22,243
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	594	915
Cash paid for income taxes	$ 517	$ 572

Business

Business	9 Months Ended
	Jun. 30, 2015
Business [Abstract]
Description of the Business	1 . BUSINESS AND ACCOUNTING POLICIES Description of the Business Integrated Electrical Services, Inc. is a holding company that owns and manages operating subsidiaries in business activities across a variety of markets. Our operations are currently organized into four principal business segments, based upon the nature of our current products and services : Communications – Nationwide provider of products and services for mission critical infrastructure, such as data centers, of large corporations. Residential – Regional provider of electrical installation services for single-family housing and multi-family apartment complexes, including installation of residential solar power. Commercial & Industrial – Provider of electrical design, construction, and maintenance services for commercial and industrial pr ojects nationwide. Infrastructure Solutions - Provider of services to industrial and rail customers, and electrical and mechanical solutions to domestic and international customers. The words “IES”, the “Company”, “we”, “our”, and “us” refer to Integrated Electrical Services, Inc. and, except as otherwise specified herein, to our wholly-owned subsidiaries . Basis of Financial Statement Preparation The accompanying unaudited condensed consolidated financial statements include the accounts of IES and its wholly-owned subsidiaries, and have been prepared in accordance with the instructions to interim financial reporting as prescribed by the SEC. The results for the interim periods are not necessarily indicative of results for the entire year. These interim financial statements do not include all disclosures required by accounting principles generally accepted i n the United States of America, and should be read in the context of the consolidated financial statements and notes thereto filed with the SEC in our Annual Report on Form 10-K for the fiscal year ended September 30, 2014 . In the opinion of management, the unaudited condensed consolidated financial statements contained in this report include all known accruals and adjustments necessary for a fair presentation of the financial position, results of operations, and cash flows for the periods reported herein. Any such adjustments are of a normal recurring nature . Use of Estimates The preparation of financial statements in conformity with accountin g principles generally accepted in the United States of America (“GAAP”) requires the use of estimates and assumptions by management in determining the reported amounts of assets and liabilities, disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses duri ng the reporting period. Actual results could differ from those estimates. Estimates are primarily used in our revenue recognition of construction in progress, fair value assumptions in analyzing goodwill, investments, intangible assets and long-lived asse t impairments and adjustments, allowance for doubtful accounts receivable, stock-based compensation, reserves for legal matters, assumptions regarding estimated costs to exit certain segment s, realizability of deferred tax assets, unrecognized tax benefits and self-insured claims liabilities and related reserves. Recent Accounting Pronouncements In January 2015, the FASB issued new guidance which eliminates from U.S. GAAP the concept of an extraordinary item. The guidance is effective for annual periods beginning after December 15, 2015. The Company does not believe this standard will have a material impact on its consolidated financial statements. In February, 2015, the FASB issued new guidance related to consolidations. The new standard amends the guidelines for determining whether certain legal entities s hould be consolidated, and reduces the number of consolidation models. The new standard is effective for fiscal years beginning after December 15, 2015, with early adoption permitted. The Company does not believe this standard will have a material impact on its consolidated financial statements. In April 2015, the FASB issued new guidance that requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that de bt liability. The new standard is effective for annual periods beginning after December 15, 2015 and is required to be adopted retrospectively. The Company does not believe this standard will have a material impact on its consolidated financial statements.

Controlling Shareholder

Controlling Shareholder	9 Months Ended
	Jun. 30, 2015
Controlling Shareholder [Abstract]
Controlling Shareholder	2 . CONTROLLING SHAREHOLDER Tontine Capital Partners, L.P. together with its affiliates (collectively “Tontine”) was the Company’s controlling shareholder, and owned 62.1 % of the Company’s outstanding common stock at June 30, 2015. Accordingly, Tontine has the ability to exercise significant control over our affairs, including the election of directors and most actions requiring the approval of shareholders. While Tontine is subject to restrictions under federal securiti es laws on sales of its shares as an affiliate, in 2013 Tontine delivered a request to the Company pursuant to a Registration Rights Agreement for registration of all of its shares of IES common stock held at that time, and on February 21, 2013, the Compan y filed a shelf registration statement to register those of Tontine’s shares. The shelf registration statement was declared effective by the SEC on June 18, 2013. As long as the shelf registration statement remains effective, Tontine has the ability to res ell any or all of its registered shares from time to time in one or more offerings, as described in the shelf registration statement and in any prospectus supplement filed in connection with an offering pursuant to the shelf registration statement. Should Tontine sell or otherwise dispose of all or a portion of its position in IES, a change in ownership could occur. A change in ownership, as defined by Internal Revenue Code Section 382, could reduce the availability of net operating losses (“NOLs”) for fed eral and state income tax purposes. On January 28, 2013, the Company implemented a tax benefit protection plan (the “NOL Rights Plan”) that is designed to deter an acquisition of the Company's stock in excess of a threshold amount that could trigger a chan ge of ownership within the meaning of Internal Revenue Code Section 382. There can be no assurance that the NOL Rights Plan will be effective in deterring a change of ownership or protecting the NOLs. Furthermore, a change in ownership would trigger the change of control provisions in a number of our material agreements, including our credit facility, bonding agreements with our sureties and our severance arrangements. A member of the Company’s Board of Directors since February, 2012, David B. Gendell ha s served as the Company’s non-executive Chairman of the Board since January, 2015. Mr. Gendell, who is the brother of Jeffrey Gendell, the founder and managing member of Tontine, is also an employee of Tontine.

Debt

Debt	9 Months Ended
	Jun. 30, 2015
Debt [Abstract]
Debt	3 . DEBT At June 30, 2015 and September 30, 2014 , our long-term debt of $ 10,214 and $ 10,208 relates to amounts drawn on our revolving credit facility, which matures on August 9, 2018. Our interest rate on these borrowings was 2.38% at June 30, 2015 and 3.25% at September 30, 2014 . At June 30, 2015 , we also had $ 6,918 in outstanding letters of credit, and total availability of $ 14,852 under this facility without violating our financial covenant. There h ave been no changes to the financial covenants disclosed in Item 7 of our Annual Report on Form 10-K for the year ended September 30, 2014 , and the Company was in compliance with all covenants at June 30, 2015 . At June 30, 2015 , the carrying value of amoun ts outstanding on our revolving loan approximated fair value, as debt incurs interest at a variable rate. The fair value of the debt is classified as a level 2 measurement.

Per Share Information

Per Share Information	9 Months Ended
	Jun. 30, 2015
Per Share Information [Abstract]
Per Share Information	4 . PER SHARE INFORMATION The following table reconciles the components of the basic and diluted earnings (loss) per share for the three and nine months ended June 30, 2015 and 2014 : Three Months Ended June 30, 2015 2014 Numerator: Net earnings from continuing operations attributable to common shareholders $ 3,927 $ 2,785 Net earnings from continuing operations attributable to restricted shareholders 35 10 Net earnings from continuing operations 3,962 2,795 Net loss from discontinued operations attributable to common shareholders (5) (122) Net loss from discontinued operations (5) (122) Net earnings attributable to common shareholders 3,922 2,663 Net earnings attributable to restricted shareholders 35 10 Net earnings $ 3,957 $ 2,673 Denominator: Weighted average common shares outstanding — basic 21,319,444 18,464,933 Effect of dilutive stock options and non-vested restricted stock 51,190 56,695 Weighted average common and common equivalent shares outstanding — diluted 21,370,634 18,521,628 Basic earnings (loss) per share: From continuing operations $ 0.19 $ 0.15 From discontinued operations - (0.01) Basic earnings per share $ 0.19 $ 0.14 Diluted earnings (loss) per share: From continuing operations $ 0.19 $ 0.15 From discontinued operations - (0.01) Diluted earnings per share $ 0.19 $ 0.14 Nine Months Ended June 30, 2015 2014 Numerator: Net earnings from continuing operations attributable to common shareholders $ 9,258 $ 3,490 Net earnings from continuing operations attributable to restricted shareholders 32 16 Net earnings from continuing operations 9,290 3,506 Net loss from discontinued operations attributable to common shareholders (231) (313) Net loss from discontinued operations (231) (313) Net earnings attributable to common shareholders 9,027 3,177 Net earnings attributable to restricted shareholders 32 16 Net earnings $ 9,059 $ 3,193 Denominator: Weighted average common shares outstanding — basic 21,542,289 18,450,935 Effect of dilutive stock options and non-vested restricted stock 47,148 59,049 Weighted average common and common equivalent shares outstanding — diluted 21,589,437 18,509,984 Basic earnings (loss) per share: From continuing operations $ 0.43 $ 0.19 From discontinued operations (0.01) (0.02) Basic earnings per share $ 0.42 $ 0.17 Diluted earnings (loss) per share: From continuing operations $ 0.43 $ 0.19 From discontinued operations (0.01) (0.02) Diluted earnings per share $ 0.42 $ 0.17 For the three and nine months ended June 30, 2014 , zero and 150,000 stock options, respectively, were excluded from the computation of fully diluted earnings per share because the exercise prices of the options were greater than the average price of our common stock. For the three and nine months ended June 30, 2015 , the average price of our common shares exceeded the exercise price of all of our outstanding options. On Aug ust 7, 2014, we completed a rights offering of common stock to our stockholders at a subscription price that was lower than the market price of our common stock at closing of the offering. For information on the rights offering, please see “Note 11 – St oc kholders E quity” in our Form 10-K. The rights offering was deemed to contain a bonus element that is similar to a stock dividend, requiring us to adjust the weighted average number of common shares used to calculate basic and diluted earnings per share in prior periods retrospectively by a factor of 1.0340 . Basic and diluted weighted average shares for the three months ended June 30, 2014 prior to giving effect to the rights offering were 17,857,422 and 17,912,252 , respectively. Basic and diluted weighted average shares for the nine months ended June 30, 2014 prior to giving effect to the rights offering were 17,843,885 and 17,900,991 , respectively.

Operating Segments

Operating Segments	9 Months Ended
	Jun. 30, 2015
Operating Segments [Abstract]
Operating Segments	5 . OPERATING SEGMENTS We manage and measure performance of our business in four distinct operating segments: Communications, Residential , Commercial & Industrial, and Infrastructure Solutions . Transactions between segments, if any, are eliminated in consolidation. Our Corporate office provides general and administrative as well as support services to our four operating segments. Management allocates certain shared costs between segments for selling, general and administrative expen ses and depreciation expense. Segment information for the three and nine months ended June 30, 2015 and 2014 is as follows: Three Months Ended June 30, 2015 Commercial & Infrastructure Communications Residential Industrial Solutions Corporate Total Revenues $ 35,516 $ 52,991 $ 44,406 $ 11,169 $ - $ 144,082 Cost of services 28,451 42,615 39,161 8,803 - 119,030 Gross profit 7,065 10,376 5,245 2,366 - 25,052 Selling, general and administrative 4,275 7,709 3,776 2,463 2,323 20,546 Loss (gain) on sale of assets (31) - (16) - - (47) Income (loss) from operations $ 2,821 $ 2,667 $ 1,485 $ (97) $ (2,323) $ 4,553 Other data: Depreciation and amortization expense $ 141 $ 120 $ 71 $ 236 $ 68 $ 636 Capital expenditures $ 174 $ 64 $ 130 $ 366 $ - $ 734 Total assets $ 39,096 $ 37,690 $ 45,776 $ 28,266 $ 61,678 $ 212,506 Three Months Ended June 30, 2014 Commercial & Infrastructure Communications Residential Industrial Solutions Corporate Total Revenues $ 34,783 $ 49,428 $ 38,878 $ 13,103 $ - $ 136,192 Cost of services 28,086 39,721 35,158 10,561 - 113,526 Gross profit 6,697 9,707 3,720 2,542 - 22,666 Selling, general and administrative 3,633 7,325 3,188 2,397 2,567 19,110 Loss (gain) on sale of assets - - (10) - - (10) Income (loss) from operations $ 3,064 $ 2,382 $ 542 $ 145 $ (2,567) $ 3,566 Other data: Depreciation and amortization expense $ 102 $ 123 $ 70 $ 248 $ 86 $ 629 Capital expenditures $ 76 $ 126 $ 116 $ 209 $ - $ 527 Total assets $ 29,243 $ 38,373 $ 46,720 $ 28,552 $ 35,969 $ 178,857 Nine Months Ended June 30, 2015 Commercial & Infrastructure Communications Residential Industrial Solutions Corporate Total Revenues $ 95,269 $ 151,753 $ 132,677 $ 34,471 $ - $ 414,170 Cost of services 78,132 122,523 117,331 26,721 - 344,707 Gross profit 17,137 29,230 15,346 7,750 - 69,463 Selling, general and administrative 11,377 22,741 11,155 6,795 6,585 58,653 Loss (gain) on sale of assets (24) 4 (18) (2) - (40) Income (loss) from operations $ 5,784 $ 6,485 $ 4,209 $ 957 $ (6,585) $ 10,850 Other data: Depreciation and amortization expense $ 388 $ 362 $ 207 $ 640 $ 209 $ 1,806 Capital expenditures $ 644 $ 257 $ 297 $ 1,023 $ 164 $ 2,385 Total assets $ 39,096 $ 37,690 $ 45,776 $ 28,266 $ 61,678 $ 212,506 Nine Months Ended June 30, 2014 Commercial & Infrastructure Communications Residential Industrial Solutions Corporate Total Revenues $ 84,521 $ 132,821 $ 122,443 $ 36,752 $ - $ 376,537 Cost of services 69,751 108,044 108,957 28,976 - 315,728 Gross profit 14,770 24,777 13,486 7,776 - 60,809 Selling, general and administrative 9,778 20,739 10,911 7,080 7,347 55,855 Loss (gain) on sale of assets - (41) (35) 3 - (73) Income (loss) from operations $ 4,992 $ 4,079 $ 2,610 $ 693 $ (7,347) $ 5,027 Other data: Depreciation and amortization expense $ 303 $ 364 $ 203 $ 732 $ 289 $ 1,891 Capital expenditures $ 127 $ 289 $ 171 $ 720 $ 115 $ 1,422 Total assets $ 29,243 $ 38,373 $ 46,720 $ 28,552 $ 35,969 $ 178,857

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Jun. 30, 2015
Stockholders' Equity [Abstract]
Stockholders' Equity	6 . STOCKHOLDERS’ EQUITY Stock Repurchase Program On February 4, 2015, IES’s Board of Directors authorized a stock repurchase program for purchasing up to 1.0 million shares of the Company’s common stock from time to time. Share purchases will be made for cash in open market transactions at prevailing market prices or in privately negotiated transactions or otherwise. The timing and amount of purchases under the program will be determined based upon prevailing market condi tions, our liquidity requirements, contractual restrictions and other factors. The program does not require the Company to purchase any specific number of shares and may be modified, suspended or reinstated at any time at the Company’s discretion and with out notice. At June 30, 2015 , 570,459 shares remained available for repurchase under the program. Treasury Stock D uring the nine months ended June 30, 2015 , we repurchased 16,784 common shares from our employees to satisfy minimum tax withholding requirements upon the vesting of restricted stock issued under the 2006 Equity Incentive Plan (as amended and restated) . W e issued 194,000 shares out of treasury stock under our sh are-based compensation programs for restricted shares granted d uring the nine months ended June 30, 2015 . We i ssued 2,485 unrestricted shares out of treasury stock to members of our Board of Directors as part of their overall compensation. We issued 8,309 shares of treasury stock as payment for outstanding pha ntom stock units that vested upon the departure of the Company’s Chairman and CEO in January 2015 . Pursuant to the repurchase program described above, w e repurchased 429,541 shares of our common stock during the nine months ended June 30, 2015 , of which 3,450 were purchased in open market transactions at average price of $ 7.09 , and of which 426,091 shares were purchased from a single unrelated, third party shareholder at a purchase price of $ 7.25 per share . The aggregate cash purchase price of all shares repurchased under the program during the nine months ended June 30, 2015 , was $ 3, 113 . Restricted Stock During the three months ended June 30, 2015 and 2014 , we recognized $ 127 and $ 32 , respectively, in compensation expense related to our restricted stock awards. During the nine months ended June 30, 2015 and 2014 , we recognized $ 153 and $ 170 , respectively, related to these awards. At June 30, 2015 , the unamortized compensation cost related to outstanding unvested restricted stock was $ 1,421 . P hantom Stock Units Phantom stock units (“PSUs”) are primarily granted to the non-employee members of the Board of Directors as part of their overall compensation. These PSUs are paid via unrestricted stock grants to each non-employee director upon their departure from the Board of Directors. We record compensation expense for the full value of the grant on the date of grant. For the three months ended June 30, 2015 and 2014 , we recognized $ 140 and $ 36 in compensation expense related to these grants. For the nine months ended June 30, 2015 and 2014 , we recognized $ 200 and $ 207 in compensation expense related to t hese grants. Stock Options During the three months ended June 30, 2015 and 2014 , we recognized compensation expense of $ 19 and $ 42 , respectively, related to our stock option awards. During the nine months ended June 30, 2015 and 2014 , we recognized $ (61) and $ 184 , respectively, in compensation expense related to our stock option awards. T he net benefit in 2015 relates to a revision in forfeiture assumptions upon the departure of the Company’s Chairman and CEO in January 2015 , at which time he forfeited unvested stock options . At June 30, 2015 , the unamortized compensation cost related to outstanding unvested stock options was $ 99 .

Securities and Equity Investmen

Securities and Equity Investments	9 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Cost And Equity Method Investments	7 . SECURITIES AND EQUITY INVESTMENTS Our financial instruments consist of cash and cash equivalents, accounts receivable, notes receivable, investments, accounts payable, and a loan agreement . We believe that the carrying value of these financial instruments in the accompanying Consolidated Balance Sheets approximates their fair value due to their short-term nature. Additionally, we have a cost method investment in EnerTech Capital Partners II L.P. (“ EnerTech ”). We estimate the fair value of our investment in EnerTech (Level 3) using quoted market prices for underlying publicly traded securities, and estimated enterprise values are determined using cash flow projections and market multiples of the underlying non-public companies . Investment in EnerTech The following table presents the reconciliation of the carrying val ue and unrealized gains to the fair value of the investment in EnerTech as of June 30, 2015 and September 30, 2014 : June 30, September 30, 2015 2014 Carrying value $ 919 $ 919 Unrealized gains 80 94 Fair value $ 999 $ 1,013 At each reporting date, the Company performs evaluations of impairment for this investment to determine if any unrealized losses are other-than-temporary. There was no impairment for the nine months ended June 30, 2015 or 2014 . EnerTech’s general partner, with the consent of the fund’s investors, has extended the fund through December 31, 201 5 . The fund will terminate on this date unless extended by the fund’s valuation committee. The fund may be extended for another one-year period throug h December 31, 201 6 with the consent of the fund’s valuation committee.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Jun. 30, 2015
Employee Benefit Plans [Abstract]
401(k) and Retirement Plans	8 . EMPLOYEE BENEFIT PLANS 401(k) Plan The Company offers employees the opportunity to participate in its 401(k) savings plans. During the three months ended June 30, 2015 and 2014 , we recognized $ 100 and $ 91 , respectively, in matching expense. During the nine months ended June 30, 2015 and 2014 , we recognized $ 283 and $ 267 , respectively, in matching expense. Post Retirement Benefit Plans Certain individuals at one of the Company’s locations are entitled to receive fixed annual payments pursuant to post retirement benefit plans. We had an unfunded benefit liability of $ 871 recorded as of June 30, 2015 and $ 853 as of September 30, 2014 , related to such plans.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Jun. 30, 2015
Fair Value Measurements [Abstract]
Fair Value Measurements	9 . FAIR VALUE MEASUREMENTS Fair Value Measurement Accounting Fair value is considered the price to sell an asset, or transfer a liability, between market participants on the measurement date. Fair value measurements assume that the asset or liability is (1) exchanged in an orderly manner, (2) the exchange is in the principal market for that asset or liability, and (3) the market participants are independent, knowledgeable, able and willing to transact an exchange. Fair value accoun ting and reporting establishes a framework for measuring fair value by creating a hierarchy for observable independent market inputs and unobservable market assumptions and expands disclosures about fair value measurements. Considerable judgment is require d to interpret the market data used to develop fair value estimates. As such, the estimates presented herein are not necessarily indicative of the amounts that could be realized in a current exchange. The use of different market assumptions and/or estimati on methods could have a material effect on the estimated fair value. At June 30, 2015 , financial assets and liabilities measured at fair value on a recurring basis were limited to our Executive Deferred Compensation Plan, und er which certain employees are permitted to defer a portion of their base salary and/or bonus for a Plan Year. Financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2015 , are summarized in the following table by the type of inputs applicable to the fair valu e measurements: June 30, 2015 Total Fair Value Quoted Prices (Level 1) Significant Unobservable (Level 3) Executive savings plan assets $ 662 $ 662 $ - Executive savings plan liabilities (550) (550) - Total $ 112 $ 112 $ - Financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2014 , are summarized in the following table by the type of inputs applicable to the fair value measurements: September 30, 2014 Total Fair Value Quoted Prices (Level 1) Significant Unobservable (Level 3) Executive savings plan assets $ 625 $ 625 $ - Executive savings plan liabilities (512) (512) - Total $ 113 $ 113 $ -

Inventory

Inventory	9 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventory Disclosure	10 . INVENTORY Inventories consist of the following components: June 30, September 30, 2015 2014 Raw materials $ 1,897 $ 1,978 Work in process 2,596 2,618 Finished goods 1,221 1,819 Parts and supplies 8,039 9,633 Total inventories $ 13,753 $ 16,048

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill And Intangible Assets Disclosure	11 . INTANGIBLE ASSETS Intangible assets consist of the following: June 30, 2015 Estimated Useful Lives Gross Carrying Accumulated (in Years) Amount Amortization Net Trademarks/trade names 8 - Indefinite $ 1,400 $ 2 $ 1,398 Technical library 20 400 36 364 Customer relationships 8 - 12 3,600 677 2,923 Covenants not to compete 3.0 140 109 31 Developed technology 4.0 400 233 167 Total $ 5,940 $ 1,057 $ 4,883 September 30, 2014 Estimated Useful Lives Gross Carrying Accumulated (in Years) Amount Amortization Net Trademarks/trade names Indefinite $ 1,200 $ - $ 1,200 Technical library 20 400 21 379 Customer relationships 12 2,100 484 1,616 Covenants not to compete 3.0 140 74 66 Developed technology 4.0 400 158 242 Total $ 4,240 $ 737 $ 3,503

Commitments And Contingencies

Commitments And Contingencies	9 Months Ended
	Jun. 30, 2015
Commitments And Contingencies [Abstract]
Legal Matters	12 . COMMITMENTS AND CONTINGENCIES Legal Matters From time to time we are a party to various claims, lawsuits and other legal proceedings that arise in the ordinary course of business. We maintain various insurance coverages to minimize financial risk associated with these proceedings. None of these proceedings, separately or in the aggregate, are expected to have a material adverse effect on our financial position, results of operation s or cash flows. With respect to all such proceedings, we record reserves when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. We expense routine legal costs related to these proceedings as they are i ncurred. The following is a discussion of our significant legal matters: Ward Transformer Site Private A ction In April 2009, Carolina Power and Light Company and Consolidation Coal Company filed suit in the U.S. District Court for the Eastern District of North Carolina (Western Division) against a number of entities, including one of our subsidiaries, to recover costs to remove Polychlorinated Byphenyls (“PCB”) contamination at Ward Transformer, an electric transformer resale and reconditioning facility located in Raleigh, North Carolina (the “Private Action”). Plain tiffs had been ordered under a settlement agreement with the U.S. Environmental Protection Agency (the “EPA”) to clean up the onsite contamination, including the groundwater underneath the facility, and were seeking to recover costs associated with the cle an-up from other potentially responsible parties (“PRPs”). Plaintiffs allege that our subsidiary had sent transformers to the site prior to our acquisition of the subsidiary. Based on our investigation to date, there is evidence to support our defense tha t our subsidiary contributed no PCB contamination to the site. As part of a court-ordered mediation process in this litigation, the Company is participating in settlement negotiations with plaintiffs. Based on negotiations to date, the Company expects th at any payments associated with settlement of this matter would not result in a material impact on the Company’s results of operations or financial position, and no liability has been accrued as of June 30, 2015. EPA Action Contamination outside of and d ownstream from the Ward Transformer site is not subject to the Private Action. The EPA has not yet assessed costs for that portion of the remediation, and has not entered into any settlement agreement with any party to begin clean-up. In late 2008, the E PA selected approximately 50 PRPs to which it sent a Special Notice Letter to organize the clean-up of soils and ground water off-site. We were not a recipient of that letter. However, in 2013, the EPA held a settlement conference to discuss potential clea n-up and included the 50 letter recipients and other PRPs identified in the Private Action, including the Company. No settlement was reached and the extent of any off- site contamination remains unknown. As of June 30, 2015, we have not recorded a reserv e for this matter, as we believe the likelihood of our responsibility for damages is not probable and a potential range of exposure is not estimable. Hamilton Wage and Hour The Company is a defendant in three wage-and-hour suits seeking class action certification that were filed between August 29, 2012 and June 24, 2013, in the U.S. District Court for the Eastern District of Texas. Each of these cases is among several others filed by Plaintiffs’ attorney against contractors working in the Port Arthur, Texas Motiva plant on various projects over the last few years. The claims are based on alleged failure to compensate for time spent bussing to and from a work site, donning safety wear and other activities. In a separate earlier case based on the same allegations, a federal district court ruled that the time spent traveling on the busses is not compensable. The U.S. Court of Appeals for the Fifth Circuit upheld the district court’s ruling , and the U.S. Supreme Court declined to review plaintiffs’ appeal of the Fifth Circuit dismissal . To date, no other plaintiffs have joined the suit, and the statute of limitations precludes any new claimants from seeking recovery against the Company, as the Company’s employees stopped working at the project over two years ago. Due to the absence of any exposure beyond the named plaintiffs, and the limited exposure for any time spent bussing into the facility, the Company expects any payments associated with the settlement of this matter would not result in a material impact on the company’s results of operations or financial position. As such, we have not recorded a reserve for this matter as of Jun e 30, 2015. Risk-Management We retain the risk for workers’ compensation, employer’s liability, automobile liability, construction defects, general liability and employee group health claims, as well as pollution coverage, resulting from uninsured deductibles per accident or occurrence which are generally subject to annual aggregate limits. Our general liability program provides coverage for bodily injury and property damage. In many cases, we insure third parties, including general contractors, as additional insu reds under our insurance policies. Losses up to the deductible amounts, or losses that are not covered under our policies, are accrued based upon our known claims incurred and an estimate of claims incurred but not reported. As a result, many of our claims are effectively self-insured. Many claims against our insurance are in the form of litigation. At June 30, 2015 and September 30, 2014 , we had $ 3,990 and $ 4,560 , respectively, accrued for insurance liabilities. We are also subject to c onstruction defect liabilities, primarily within our Residential segment. As of June 30, 2015 and September 30, 2014 , we had $ 498 and $ 569 , respectively, reserved for these claims. Because the reserves are based on judgment and estimates, and involve variables that are inherently uncertain, such as the outcome of litigation and an assessment of insurance coverage, there can be no assurance that the ultimate liability will not be higher or lower than such estimates or that the timing of payments will not create liquidity issues for the Company. Some of the underwriters of our casualty insurance program require us to post letters of credit as collateral. This is common in the insurance industry. To date, we have not had a situation where an underwriter has had reasonable cause to effect payment under a letter of credit. At both June 30, 2015 and September 30, 2014 , $ 6,347 of our outstanding letters of credit was utilized to collateralize our insurance program. Surety As of June 30, 2015 , the estimated cost to complete our bonded projects was approximately $ 65,800 . We evaluate our bonding requirements on a regular basis, including the terms offered by our sureties. We believe the bonding capacity presently provided by our current sureties is adequate for our current operations and will be adequate for our operations for the foreseeable future. Posting letters of credit in favor of our sureties reduces the borrowing availability under our c redit facility. Receivable from Surety During the first quarter of fiscal 2013, we fully reserved for a $1,725 receivable owed to us by a former surety. We subsequently received $ 550 in recoveries associated with the receivable during 2013, which we classified as other income within our Consolidated Statements of Comprehensive Income for the year ended September 30, 2013. We currently do not expect any significant additional recovery of amounts owed to us by this surety. Any potential subsequent recovery will be included in other income. Other Commitments and Contingencies Some of our customers and vendors require us to post letters of credit as a means of guaranteeing performance under our contracts and ensuring payment by us to subcontractors and vendors. If our customer has reasonable cause to effect payment under a letter of credit, we would be required to reimburse our creditor for the letter of credit. At June 30, 2015 , $ 571 of our outstanding letters of credit were to collateralize our vendors. Fr om time to time, we may enter into firm purchase commitments for materials such as copper or aluminum wire which we expect to use in the ordinary course of business. These commitments are typically for terms of less than one year and require us to buy mini mum quantities of materials at specific intervals at a fixed price over the term. As of June 30, 2015 , we had a $ 112 commitment outstanding for the purchase of copper wire . We expect this wire to be purchased and used within the current fiscal year .

Business Combination

Business Combination	9 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Business Combination Disclosure	13 . BUSINESS COMBINATION On May 21, 2015, our wholly-owned subsidiary Magnetech Industrial Services, Inc. (“ Magnetech ”) acquired all of the common stock and certain related real estate of Southern Industrial Sales and Services, Inc. (“Southern Rewinding”) , a Columbus, Georgia-based motor repair and related field services company , for total consideration of $ 3,937 . Of that amount, $ 3,137 was paid at closing. Additional consideration of $ 800 is scheduled to be paid through the period ending November, 2016, subject to Magnetech’s right to hold back certain amounts in respect of seller obligations. After closing, we provided the newly-acquired entity with $ 1,065 of working capital. Southern Rewinding is included in our Infrastructure S olutions segment. The Company accounted for the transaction under the acquisition method of accounting, which requires recording assets and liabilities at fair value (Level 3). The valuations derived from estimated fair value assessments and assumptions used by management are preliminary pending finalization of certain intangible asset valuations. While management believes that its preliminary estimates and a ssumptions underlying the valuations are reasonable, different estimates and assumptions could res ult in different values being assigned to individual assets acquired and liabilities assumed. This may result in adjustments to the preliminary amounts recorded. The preliminary valuation of the assets acquired and liabilities assumed as of May 21, 2015 is as follows: Current assets $ 1,225 Property and equipment 911 Intangible assets (primarily customer relationships) 1,700 Non-tax-deductible goodwill 1,532 Current liabilities (1,431) Net assets acquired $ 3,937 Pro forma revenues and results of operations for the acquisition have not been presented because the effects were not material to the consolidated financial statements.

Per Share Information (Tables)

Per Share Information (Tables)	9 Months Ended
	Jun. 30, 2015
Per Share Information [Abstract]
Schedule Of Earnings Per Share Basic And Diluted [Table Text Block]	Three Months Ended June 30, 2015 2014 Numerator: Net earnings from continuing operations attributable to common shareholders $ 3,927 $ 2,785 Net earnings from continuing operations attributable to restricted shareholders 35 10 Net earnings from continuing operations 3,962 2,795 Net loss from discontinued operations attributable to common shareholders (5) (122) Net loss from discontinued operations (5) (122) Net earnings attributable to common shareholders 3,922 2,663 Net earnings attributable to restricted shareholders 35 10 Net earnings $ 3,957 $ 2,673 Denominator: Weighted average common shares outstanding — basic 21,319,444 18,464,933 Effect of dilutive stock options and non-vested restricted stock 51,190 56,695 Weighted average common and common equivalent shares outstanding — diluted 21,370,634 18,521,628 Basic earnings (loss) per share: From continuing operations $ 0.19 $ 0.15 From discontinued operations - (0.01) Basic earnings per share $ 0.19 $ 0.14 Diluted earnings (loss) per share: From continuing operations $ 0.19 $ 0.15 From discontinued operations - (0.01) Diluted earnings per share $ 0.19 $ 0.14 Nine Months Ended June 30, 2015 2014 Numerator: Net earnings from continuing operations attributable to common shareholders $ 9,258 $ 3,490 Net earnings from continuing operations attributable to restricted shareholders 32 16 Net earnings from continuing operations 9,290 3,506 Net loss from discontinued operations attributable to common shareholders (231) (313) Net loss from discontinued operations (231) (313) Net earnings attributable to common shareholders 9,027 3,177 Net earnings attributable to restricted shareholders 32 16 Net earnings $ 9,059 $ 3,193 Denominator: Weighted average common shares outstanding — basic 21,542,289 18,450,935 Effect of dilutive stock options and non-vested restricted stock 47,148 59,049 Weighted average common and common equivalent shares outstanding — diluted 21,589,437 18,509,984 Basic earnings (loss) per share: From continuing operations $ 0.43 $ 0.19 From discontinued operations (0.01) (0.02) Basic earnings per share $ 0.42 $ 0.17 Diluted earnings (loss) per share: From continuing operations $ 0.43 $ 0.19 From discontinued operations (0.01) (0.02) Diluted earnings per share $ 0.42 $ 0.17

Operation Segments (Tables)

Operation Segments (Tables)	9 Months Ended
	Jun. 30, 2015
Operating Segments [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, 2015 Commercial & Infrastructure Communications Residential Industrial Solutions Corporate Total Revenues $ 35,516 $ 52,991 $ 44,406 $ 11,169 $ - $ 144,082 Cost of services 28,451 42,615 39,161 8,803 - 119,030 Gross profit 7,065 10,376 5,245 2,366 - 25,052 Selling, general and administrative 4,275 7,709 3,776 2,463 2,323 20,546 Loss (gain) on sale of assets (31) - (16) - - (47) Income (loss) from operations $ 2,821 $ 2,667 $ 1,485 $ (97) $ (2,323) $ 4,553 Other data: Depreciation and amortization expense $ 141 $ 120 $ 71 $ 236 $ 68 $ 636 Capital expenditures $ 174 $ 64 $ 130 $ 366 $ - $ 734 Total assets $ 39,096 $ 37,690 $ 45,776 $ 28,266 $ 61,678 $ 212,506 Three Months Ended June 30, 2014 Commercial & Infrastructure Communications Residential Industrial Solutions Corporate Total Revenues $ 34,783 $ 49,428 $ 38,878 $ 13,103 $ - $ 136,192 Cost of services 28,086 39,721 35,158 10,561 - 113,526 Gross profit 6,697 9,707 3,720 2,542 - 22,666 Selling, general and administrative 3,633 7,325 3,188 2,397 2,567 19,110 Loss (gain) on sale of assets - - (10) - - (10) Income (loss) from operations $ 3,064 $ 2,382 $ 542 $ 145 $ (2,567) $ 3,566 Other data: Depreciation and amortization expense $ 102 $ 123 $ 70 $ 248 $ 86 $ 629 Capital expenditures $ 76 $ 126 $ 116 $ 209 $ - $ 527 Total assets $ 29,243 $ 38,373 $ 46,720 $ 28,552 $ 35,969 $ 178,857 Nine Months Ended June 30, 2015 Commercial & Infrastructure Communications Residential Industrial Solutions Corporate Total Revenues $ 95,269 $ 151,753 $ 132,677 $ 34,471 $ - $ 414,170 Cost of services 78,132 122,523 117,331 26,721 - 344,707 Gross profit 17,137 29,230 15,346 7,750 - 69,463 Selling, general and administrative 11,377 22,741 11,155 6,795 6,585 58,653 Loss (gain) on sale of assets (24) 4 (18) (2) - (40) Income (loss) from operations $ 5,784 $ 6,485 $ 4,209 $ 957 $ (6,585) $ 10,850 Other data: Depreciation and amortization expense $ 388 $ 362 $ 207 $ 640 $ 209 $ 1,806 Capital expenditures $ 644 $ 257 $ 297 $ 1,023 $ 164 $ 2,385 Total assets $ 39,096 $ 37,690 $ 45,776 $ 28,266 $ 61,678 $ 212,506 Nine Months Ended June 30, 2014 Commercial & Infrastructure Communications Residential Industrial Solutions Corporate Total Revenues $ 84,521 $ 132,821 $ 122,443 $ 36,752 $ - $ 376,537 Cost of services 69,751 108,044 108,957 28,976 - 315,728 Gross profit 14,770 24,777 13,486 7,776 - 60,809 Selling, general and administrative 9,778 20,739 10,911 7,080 7,347 55,855 Loss (gain) on sale of assets - (41) (35) 3 - (73) Income (loss) from operations $ 4,992 $ 4,079 $ 2,610 $ 693 $ (7,347) $ 5,027 Other data: Depreciation and amortization expense $ 303 $ 364 $ 203 $ 732 $ 289 $ 1,891 Capital expenditures $ 127 $ 289 $ 171 $ 720 $ 115 $ 1,422 Total assets $ 29,243 $ 38,373 $ 46,720 $ 28,552 $ 35,969 $ 178,857

Securities and Equity Investm21

Securities and Equity Investments (Tables)	9 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Schedule of Cost Method Investments [Table Text Block]	June 30, September 30, 2015 2014 Carrying value $ 919 $ 919 Unrealized gains 80 94 Fair value $ 999 $ 1,013

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jun. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	June 30, 2015 Total Fair Value Quoted Prices (Level 1) Significant Unobservable (Level 3) Executive savings plan assets $ 662 $ 662 $ - Executive savings plan liabilities (550) (550) - Total $ 112 $ 112 $ - September 30, 2014 Total Fair Value Quoted Prices (Level 1) Significant Unobservable (Level 3) Executive savings plan assets $ 625 $ 625 $ - Executive savings plan liabilities (512) (512) - Total $ 113 $ 113 $ -

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Schedule Of Inventory Current [Table Text Block]	June 30, September 30, 2015 2014 Raw materials $ 1,897 $ 1,978 Work in process 2,596 2,618 Finished goods 1,221 1,819 Parts and supplies 8,039 9,633 Total inventories $ 13,753 $ 16,048

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule Of Intangible Assets And Goodwill [Table Text Block]	June 30, 2015 Estimated Useful Lives Gross Carrying Accumulated (in Years) Amount Amortization Net Trademarks/trade names 8 - Indefinite $ 1,400 $ 2 $ 1,398 Technical library 20 400 36 364 Customer relationships 8 - 12 3,600 677 2,923 Covenants not to compete 3.0 140 109 31 Developed technology 4.0 400 233 167 Total $ 5,940 $ 1,057 $ 4,883 September 30, 2014 Estimated Useful Lives Gross Carrying Accumulated (in Years) Amount Amortization Net Trademarks/trade names Indefinite $ 1,200 $ - $ 1,200 Technical library 20 400 21 379 Customer relationships 12 2,100 484 1,616 Covenants not to compete 3.0 140 74 66 Developed technology 4.0 400 158 242 Total $ 4,240 $ 737 $ 3,503

Business Combination (Tables)

Business Combination (Tables)	9 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Allocation to Fair Value of Net Assets Acquired and Liabilities Assumed	Current assets $ 1,225 Property and equipment 911 Intangible assets (primarily customer relationships) 1,700 Non-tax-deductible goodwill 1,532 Current liabilities (1,431) Net assets acquired $ 3,937

Debt (Details)

Debt (Details) - Revolving Credit Facility Member - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
Line Of Credit Facility [Line Items]
Line Of Credit Facility Amount Outstanding	$ 10,214	$ 10,208
Line Of Credit Facility Interest Rate During Period	2.38%	3.25%
Letters of Credit Outstanding, Amount	$ 6,918
Line of Credit Facility, Remaining Borrowing Capacity	$ 14,852

Per Share Information (Details)

Per Share Information (Details)	3 Months Ended	9 Months Ended
	Jun. 30, 2014shares	Jun. 30, 2014shares	Jun. 30, 2015
Rights Offering [Abstract]
Weighted Average Number Of Shares Outstanding Basic Before Rights Offering	17,857,422	17,843,885
Weighted Average Number Of Shares Outstanding Diluted Before Rights Offering	17,912,252	17,900,991
Weighted Average Common Share Adjustment Factor			1.034
Stock Option [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	150,000

Per Share Information EPS (Deta

Per Share Information EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Continuing operations
Net earnings attributable to common shareholders	$ 3,927	$ 2,785	$ 9,258	$ 3,490
Net earnings attributable to restricted shareholders	35	10	32	16
Net earnings from continuing operations	3,962	2,795	9,290	3,506
Discontinued operations
Net loss from discontinued operations attributable to common shareholders	(5)	(122)	(231)	(313)
Net earnings attributable to restricted shareholders	0	0	0	0
Net loss from discontinued operations	(5)	(122)	(231)	(313)
Net earnings attributable to common shareholders	3,922	2,663	9,027	3,177
Net earnings attributable to restricted shareholders	35	10	32	16
Net income	$ 3,957	$ 2,673	$ 9,059	$ 3,193
Weighted Average Number of Shares Outstanding, Basic	21,319,444	18,464,933	21,542,289	18,450,935
Effect of dilutive stock options and non-vested restricted stock	51,190	56,695	47,148	59,049
Weighted Average Number of Shares Outstanding, Diluted	21,370,634	18,521,628	21,589,437	18,509,984
Basic earnings (loss) per share:
From continuing operations	$ 0.19	$ 0.15	$ 0.43	$ 0.19
From discontinued operations	0	(0.01)	(0.01)	(0.02)
Basic	0.19	0.14	0.42	0.17
Diluted earnings (loss) per share:
From continuing operations	0.19	0.15	0.43	0.19
From discontinued operations	0	(0.01)	(0.01)	(0.02)
Diluted	$ 0.19	$ 0.14	$ 0.42	$ 0.17

Operating Segments (Details)

Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Sep. 30, 2014
Segment Reporting Information [Line Items]
Revenues	$ 144,082	$ 136,192	$ 414,170	$ 376,537
Cost of Services	119,030	113,526	344,707	315,728
Gross Profit	25,052	22,666	69,463	60,809
Selling, General and Administrative Expense	20,546	19,110	58,653	55,855
Loss (gain) on sale of assets	(47)	(10)	(40)	(73)
Operating Income	4,553	3,566	10,850	5,027
Depreciation and amortization	636	629	1,806	1,891
Capital Expenditures	734	527	2,385	1,422
Assets	212,506	178,857	212,506	178,857	$ 201,108
Communications [Member]
Segment Reporting Information [Line Items]
Revenues	35,516	34,783	95,269	84,521
Cost of Services	28,451	28,086	78,132	69,751
Gross Profit	7,065	6,697	17,137	14,770
Selling, General and Administrative Expense	4,275	3,633	11,377	9,778
Loss (gain) on sale of assets	(31)	0	(24)	0
Operating Income	2,821	3,064	5,784	4,992
Depreciation and amortization	141	102	388	303
Capital Expenditures	174	76	644	127
Assets	39,096	29,243	39,096	29,243
Residential [Member]
Segment Reporting Information [Line Items]
Revenues	52,991	49,428	151,753	132,821
Cost of Services	42,615	39,721	122,523	108,044
Gross Profit	10,376	9,707	29,230	24,777
Selling, General and Administrative Expense	7,709	7,325	22,741	20,739
Loss (gain) on sale of assets	0	0	4	(41)
Operating Income	2,667	2,382	6,485	4,079
Depreciation and amortization	120	123	362	364
Capital Expenditures	64	126	257	289
Assets	37,690	38,373	37,690	38,373
Commercial & Industrial [Member]
Segment Reporting Information [Line Items]
Revenues	44,406	38,878	132,677	122,443
Cost of Services	39,161	35,158	117,331	108,957
Gross Profit	5,245	3,720	15,346	13,486
Selling, General and Administrative Expense	3,776	3,188	11,155	10,911
Loss (gain) on sale of assets	(16)	(10)	(18)	(35)
Operating Income	1,485	542	4,209	2,610
Depreciation and amortization	71	70	207	203
Capital Expenditures	130	116	297	171
Assets	45,776	46,720	45,776	46,720
Infrastructure Solutions [Member]
Segment Reporting Information [Line Items]
Revenues	11,169	13,103	34,471	36,752
Cost of Services	8,803	10,561	26,721	28,976
Gross Profit	2,366	2,542	7,750	7,776
Selling, General and Administrative Expense	2,463	2,397	6,795	7,080
Loss (gain) on sale of assets	0	0	(2)	3
Operating Income	(97)	145	957	693
Depreciation and amortization	236	248	640	732
Capital Expenditures	366	209	1,023	720
Assets	28,266	28,552	28,266	28,552
Corporate [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Cost of Services	0	0	0	0
Gross Profit	0	0	0	0
Selling, General and Administrative Expense	2,323	2,567	6,585	7,347
Loss (gain) on sale of assets	0	0	0	0
Operating Income	(2,323)	(2,567)	(6,585)	(7,347)
Depreciation and amortization	68	86	209	289
Capital Expenditures	0	0	164	115
Assets	$ 61,678	$ 35,969	$ 61,678	$ 35,969

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 24, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Feb. 04, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares repurchased for tax withholding				16,784
The 2015 Stock Repurchase Program [Member]
Equity Class Of Treasury Stock [Line Items]
Approved Number of shares to be repurchased						1,000,000
Remaining shares available for repurchase		570,459		570,459
Treasury Stock Shares Acquired	426,091	3,450		429,541
Treasury Stock Value Acquired Cost Method				$ 3,113
Share Price	$ 7.25
Average Share Price		$ 7.09
Phantom Share Units PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued under share based compensation program				8,309
Recognized compensation expense		$ 140	$ 36	$ 200	$ 207
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued under share based compensation program				194,000
Recognized compensation expense		127	32	$ 153	170
Unamortized compensation cost		1,421		1,421
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized compensation expense		19	$ 42	(61)	$ 184
Unamortized compensation cost		$ 99		$ 99
Unrestricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued under share based compensation program				2,485

Securities and Equity Investm31

Securities and Equity Investments - Enertech FV (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2015	Sep. 30, 2014
Investments, Debt and Equity Securities [Abstract]
Carrying Value	$ 919	$ 919
Unrealized Gain (Loss) on Investments	80	94
Fair Value	$ 999	$ 1,013

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Sep. 30, 2014
Employee Benefit Plans [Abstract]
401 (k) Matching Expenses	$ 100	$ 91	$ 283	$ 267
Unfunded Benefit Liability	$ 871		$ 871		$ 853

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair Value, Inputs, Level 1 [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Executive Savings Plan - Assets	$ 662	$ 625
Executive Savings Plan - Liabilities	$ (550)	$ (512)

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
Inventory Disclosure [Abstract]
Raw Materials	$ 1,897	$ 1,978
Work in Process	2,596	2,618
Finished Goods	1,221	1,819
Parts and Supplies	8,039	9,633
Inventory, Net	$ 13,753	$ 16,048

Goodwill and Intangible Asset35

Goodwill and Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2015	Sep. 30, 2014
IntangibleAssets [Line Items]
Gross Carrying Amount	$ 5,940	$ 4,240
Accumulated Amortization	1,057	737
INTANGIBLE ASSETS, net of amortization	4,883	$ 3,503
Customer Relationships [Member]
IntangibleAssets [Line Items]
Estimated Useful Lives		12 years
Gross Carrying Amount	3,600	$ 2,100
Accumulated Amortization	677	484
INTANGIBLE ASSETS, net of amortization	$ 2,923	$ 1,616
Customer Relationships [Member] | Maximum [Member]
IntangibleAssets [Line Items]
Estimated Useful Lives	12 years
Customer Relationships [Member] | Minimum [Member]
IntangibleAssets [Line Items]
Estimated Useful Lives	8 years
Technical Library [Member]
IntangibleAssets [Line Items]
Estimated Useful Lives	20 years	20 years
Gross Carrying Amount	$ 400	$ 400
Accumulated Amortization	36	21
INTANGIBLE ASSETS, net of amortization	$ 364	$ 379
Covenants Not to Compete [Member]
IntangibleAssets [Line Items]
Estimated Useful Lives	3 years	3 years
Gross Carrying Amount	$ 140	$ 140
Accumulated Amortization	109	74
INTANGIBLE ASSETS, net of amortization	$ 31	$ 66
Developed Technology [Member]
IntangibleAssets [Line Items]
Estimated Useful Lives	4 years	4 years
Gross Carrying Amount	$ 400	$ 400
Accumulated Amortization	233	158
INTANGIBLE ASSETS, net of amortization	$ 167	242
Trademarks And Trade Names [Member]
IntangibleAssets [Line Items]
Estimated Useful Lives	8 years
Gross Carrying Amount	$ 200
Accumulated Amortization	2
INTANGIBLE ASSETS, net of amortization	198
Trademarks And Trade Names [Member]
IntangibleAssets [Line Items]
Gross Carrying Amount	1,200	1,200
Accumulated Amortization	0	0
INTANGIBLE ASSETS, net of amortization	$ 1,200	$ 1,200

Commitments And Contingencies (

Commitments And Contingencies (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2013	Sep. 30, 2014
Commitments And Contingencies [Abstract]
Accrued Insurance	$ 3,990		$ 4,560
Liability for Claims and Claims Adjustment Expense	498		$ 569
Estimated cost of completion of bonded project	$ 65,800
Purchase Commitment [Member]
Purchase Commitment Excluding Long term Commitment [Line Items]
Purchase Commitment Description	purchase of copper wire
Purchase Commitment Amount	$ 112
Insurance Related [Member]
Other Commitments [Line Items]
Letters of Credit Outstanding, Amount	6,347
Vendor Related [Member]
Other Commitments [Line Items]
Letters of Credit Outstanding, Amount	$ 571
Surety Bond [Member]
Loss Contingency [Line Items]
Receipt of payments		$ 550

Business Combination (Details)

Business Combination (Details) - Jun. 30, 2015 - Business Acquisition Southern Rewind [Member] - USD ($) $ in Thousands	Total
Business Acquisition [Line Items]
Name of Acquired Business	Southern Industrial Sales and Services, Inc. (“Southern Rewinding”)
Discription of Acquired Business	a Columbus, Georgia-based motor repair and related field services company
Date of Acquisition Agreement	May 21, 2015
Cash Purchase Consideration	$ 3,137
Additional Consideration To Be Paid	800
Total Consideration Transferred	3,937
Working Capital Transfer	$ 1,065

Business Combination - Consider

Business Combination - Considerations (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
Business Acquisition [Line Items]
GOODWILL	$ 16,525	$ 14,993
Business Acquisition Southern Rewind [Member]
Business Acquisition [Line Items]
Current Assets	1,225
Property Plant And Equipment	911
Intangible Assets	1,700
GOODWILL	1,532
Current Liabilities	(1,431)
Net Assets Acquired	$ 3,937