Liquidity Services (LQDT) 10-Q 6 Feb 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Dec. 31, 2014	Feb. 03, 2015
Document and Entity Information
Entity Registrant Name	LIQUIDITY SERVICES INC
Entity Central Index Key	1235468
Document Type	10-Q
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-21
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		29,978,283
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Sep. 30, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$74,222	$62,598
Accounts receivable, net of allowance for doubtful accounts of $1,164 and $1,042 at December 31, 2014 and September 30, 2014, respectively	27,719	21,688
Inventory	62,888	78,478
Prepaid and deferred taxes	16,650	16,777
Prepaid expenses and other current assets	4,516	5,156
Total current assets	185,995	184,697
Property and equipment, net	12,414	12,283
Intangible assets, net	4,262	17,099
Goodwill	122,640	209,656
Deferred long-term tax assets	28,305	5,236
Other assets	1,805	2,747
Total assets	355,421	431,718
Current liabilities:
Accounts payable	15,135	15,994
Accrued expenses and other current liabilities	36,951	44,484
Profit-sharing distributions payable	4,347	4,740
Customer payables	37,729	41,544
Total current liabilities	94,162	106,762
Other long-term liabilities	7,512	7,973
Total liabilities	101,674	114,735
Stockholders' equity:
Common stock, $0.001 par value; 120,000,000 shares authorized; 29,954,755 shares issued and outstanding at December 31, 2014; 29,668,150 shares issued and outstanding at September 30, 2014	29	28
Additional paid-in capital	207,539	204,704
Accumulated other comprehensive loss	-5,407	-3,451
Retained earnings	51,586	115,702
Total stockholders' equity	253,747	316,983
Total liabilities and stockholders' equity	$355,421	$431,718

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Sep. 30, 2014
In Thousands, except Share data, unless otherwise specified
Consolidated Balance Sheets
Accounts receivable, allowance for doubtful accounts (in dollars)	$1,164	$1,042
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	29,954,755	29,668,150
Common stock, shares outstanding	29,954,755	29,668,150

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statements of Operations
Revenue	$98,163	$93,470
Fee revenue	26,980	28,478
Total revenue	125,143	121,948
Costs and expenses:
Cost of goods sold (excluding amortization)	54,315	47,710
Profit-sharing distributions	9,592	10,130
Technology and operations	26,878	25,621
Sales and marketing	10,385	9,831
General and administrative	9,528	12,307
Amortization of contract intangibles	1,211	2,407
Depreciation and amortization	1,992	2,004
Acquisition costs and related fair value adjustments and impairment of goodwill and long-lived assets	96,238	95
Total costs and expenses	210,139	110,105
(Loss) income from operations	-84,996	11,843
Interest expense and other expense, net	38	21
(Loss) income before provision for income taxes	-85,034	11,822
(Benefit) provision for income taxes	20,918	-4,729
Net (loss) income	($64,116)	$7,093
Basic earnings per common share (in dollars per share)	($2.14)	$0.22
Diluted earnings per common share (in dollars per share)	($2.14)	$0.22
Basic weighted average shares outstanding (in shares)	29,926,273	32,143,064
Diluted weighted average shares outstanding (in shares)	29,926,273	32,658,070

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statements of Comprehensive Income
Net (loss) income	($64,116)	$7,093
Other comprehensive loss:
Foreign currency translation	-1,956	-529
Other comprehensive loss, net of taxes	-1,956	-529
Comprehensive (loss) income	($66,072)	$6,564

Consolidated_Statement_of_Chan

Consolidated Statement of Changes in Stockholders' Equity (USD $)	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income	Retained Earnings	Total
In Thousands, except Share data, unless otherwise specified
Balance at Sep. 30, 2014	$28	$204,704	($3,451)	$115,702	$316,983
Balance (in shares) at Sep. 30, 2014	29,668,150
Increase (Decrease) in Stockholders' Equity
Exercise of common stock options and vesting of restricted stock	1	70			71
Exercise of common stock options and vesting of restricted stock (in shares)	286,605
Compensation expense and incremental tax benefit from grants of common stock options and restricted stock		2,765			2,765
Net loss				-64,116	-64,116
Foreign currency translation			-1,956		-1,956
Balance at Dec. 31, 2014	$29	$207,539	($5,407)	$51,586	$253,747
Balance (in shares) at Dec. 31, 2014	29,954,755

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Operating activities
Net (loss) income	($64,116)	$7,093
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,203	4,411
Stock compensation expense	2,602	3,659
(Benefit) provision for inventory allowance	-48	291
Provision (benefit) for doubtful accounts	121	-57
Deferred tax benefit	-22,145
Impairment of goodwill and long-lived assets	96,238
Incremental tax benefit from exercise of common stock options	-163	-2,882
Changes in operating assets and liabilities:
Accounts receivable	1,347	-4,460
Inventory	8,138	-6,801
Prepaid and deferred taxes, current	290	385
Prepaid expenses and other assets	658	2,790
Accounts payable	-859	4,050
Accrued expenses and other	-7,534	-2,681
Profit-sharing distributions payable	-392	159
Customer payables	-3,815	239
Acquisition earn out payable		-89
Other liabilities	-461	-1,343
Net cash provided by operating activities	13,064	4,942
Investing activities
Increase in intangibles	-3
Purchases of property and equipment	-1,612	-2,678
Net cash used in investing activities	-1,615	-2,678
Financing activities
Proceeds from exercise of common stock options (net of tax)	71	469
Incremental tax benefit from exercise of common stock options	163	2,882
Net cash provided by financing activities	234	3,351
Effect of exchange rate differences on cash and cash equivalents	-59	767
Net increase in cash and cash equivalents	11,624	6,382
Cash and cash equivalents at beginning of period	62,598	95,109
Cash and cash equivalents at end of period	74,222	101,491
Supplemental disclosure of cash flow information
Cash paid for income taxes	$589	$1,461

Organization

Organization	3 Months Ended
	Dec. 31, 2014
Organization
Organization	1.Organization
	Liquidity Services, Inc. and subsidiaries (LSI or the Company) operates leading auction marketplaces for surplus and salvage assets. LSI enables buyers and sellers to transact in an efficient, automated online auction environment offering over 500 product categories. The Company’s marketplaces provide professional buyers access to a global, organized supply of surplus and salvage assets presented with digital images and other relevant product information. Additionally, LSI enables its corporate and government sellers to enhance their financial return on excess assets by providing a liquid marketplace and value-added services that integrate sales and marketing, logistics and transaction settlement into a single offering. LSI organizes its products into categories across major industry verticals such as consumer electronics, general merchandise, apparel, scientific equipment, aerospace parts and equipment, technology hardware, energy equipment, industrial capital assets, fleet and transportation equipment and specialty equipment. The Company’s marketplaces are www.liquidation.com,  www.govliquidation.com, www.govdeals.com, www.networkintl.com, www.truckcenter.com, www.secondipity.com, and www.go-dove.com. LSI has one reportable segment consisting of operating auction marketplaces for sellers and buyers of surplus, salvage and scrap assets.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2014
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2.Summary of Significant Accounting Policies
	Unaudited Interim Financial Information
	The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) for interim financial information. Accordingly, they do not include all of the information and notes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting of normal, recurring adjustments, considered necessary for a fair presentation have been included. The information disclosed in the notes to the consolidated financial statements for these periods is unaudited. Operating results for the three months ended December 31, 2014 are not necessarily indicative of the results that may be expected for the year ending September 30, 2015 or any future period.  Fee revenue is revenue earned under the consignment model, as well as other fee revenue, and is presented separately as it accounts for more than 10% of total revenue.
	The Company has evaluated subsequent events through the date that these financial statements were issued and filed with the Securities and Exchange Commission.
	New Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (FASB) issued a new standard that will change the way the Company recognizes revenue and significantly expand the disclosure requirements for revenue arrangements.  The new standard will be effective for the Company beginning on October 1, 2017, and may be adopted either retrospectively or on a modified retrospective basis whereby the new standard would be applied to new and existing arrangements with remaining performance obligations as of the effective date, with a cumulative catch-up adjustment recorded to retained earnings at the effective date for existing arrangements with remaining performance obligations.  Early adoption is not permitted.  The Company is currently evaluating the methods of adoption allowed by the new standard and the effect that adoption of the standard is expected to have on the consolidated financial statements and related disclosures.  As a result, the Company’s evaluation of the effect of the new standard will likely extend over several future periods.
	Business Combinations
	The Company recognizes all of the assets acquired, liabilities assumed, contractual contingencies, and contingent consideration at their fair value on the acquisition date. Acquisition-related costs are recognized separately from the acquisition and expensed as incurred. Restructuring costs incurred in periods subsequent to the acquisition date are expensed when incurred. Subsequent changes to the purchase price (i.e., working capital adjustments) or other fair value adjustments determined during the measurement period are recorded as an adjustment to goodwill, with the exception of contingent consideration, which is recognized in the statement of operations in the period it is modified. All subsequent changes to a valuation allowance or uncertain tax position that relate to the acquired company and existed at the acquisition date that occur both within the measurement period and as a result of facts and circumstances that existed at the acquisition date are recognized as an adjustment to goodwill. All other changes in valuation allowances are recognized as a reduction or increase to income tax expense.
	Accounts Receivable
	Accounts receivable are recorded at the invoiced amount and are non-interest bearing. The Company maintains an allowance for doubtful accounts to reserve for potentially uncollectible receivables. Allowances are based on management’s judgment, which considers historical experience and specific knowledge of accounts where collectability may not be probable. The Company makes provisions based on historical bad debt experience, a specific review of all significant outstanding invoices and an assessment of general economic conditions.
	Earnings per Share
	Basic net income attributable to common stockholders per share is computed by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted net income attributable to common stockholders per share includes the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. The Company had 1,672,394 unvested restricted shares outstanding at December 31, 2014, which were issued at prices ranging from $7.48 to $52.55, of which 1,672,394 and 127,457 shares have been excluded in the calculation of diluted income per share for the three months ended December 31, 2014 and 2013, respectively, due to the net loss incurred for the three months ended December 31, 2014 and due to the difference between the issuance price and the average market price for the period in which they have been outstanding for the three months ended December 31, 2013. The Company has also excluded the following stock options in its calculation of diluted income per share because the option exercise prices were greater than the average market prices for the applicable period:
		(a)		for the three months ended December 31, 2014, 1,424,035 options; and
		(b)		for the three months ended December 31, 2013, 73,483 options.
	The following summarizes the potential outstanding common stock of the Company as of the dates set forth below:
			Three Months Ended December 31,
			2014			2013
			(unaudited)
			(dollars in thousands except per
			share amounts)
	Weighted average shares calculation:
	Basic weighted average shares outstanding		29,926,273			32,143,064
	Treasury stock effect of options and restricted stock		—			515,006
	Diluted weighted average common shares outstanding		29,926,273			32,658,070
	Net (loss) income		$	(64,116	)	$	7,093
	Basic (loss) income per common share		$	(2.14	)	$	0.22
	Diluted (loss) income per common share		$	(2.14	)	$	0.22
	Stock-Based Compensation
	The Company estimates the fair value of share-based awards on the date of grant. The fair value of stock options is determined using the Black-Scholes option-pricing model. The fair value of restricted stock awards is based on the closing price of the Company’s common stock on the date of grant. The determination of the fair value of the Company’s stock option awards is based on a variety of factors including, but not limited to, the Company’s common stock price, expected stock price volatility over the expected life of awards, and actual and projected exercise behavior. Additionally, the Company has estimated forfeitures for share-based awards at the dates of grant based on historical experience, adjusted for future expectation. The forfeiture estimate is revised as necessary if actual forfeitures differ from these estimates.
	The Company issues restricted stock awards where restrictions lapse upon either the passage of time (service vesting), achieving performance targets, or some combination of these restrictions. For those restricted stock awards with only service conditions, the Company recognizes compensation cost on a straight-line basis over the explicit service period. For awards with both performance and service conditions, the Company starts recognizing compensation cost over the remaining service period, when it is probable the performance condition will be met. For stock awards that contain performance vesting conditions, the Company excludes these awards from diluted earnings per share computations until the contingency is met as of the end of that reporting period.  For awards to non-employees (who are not directors), the Company records compensation cost when the performance condition is met.
	The Company presents the cash flows resulting from the tax benefits resulting from tax deductions in excess of the compensation cost recognized for those options (excess tax benefits) as a financing activity with a corresponding operating cash outflow in the Consolidated Statements of Cash Flows.

Defense_Logistics_Agency_DLA_D

Defense Logistics Agency (DLA) Disposition Services Contracts	3 Months Ended
	Dec. 31, 2014
Defense Logistics Agency (DLA) Disposition Services Contracts
Defense Logistics Agency (DLA) Disposition Services Contracts
	3.Defense Logistics Agency (DLA) Disposition Services Contracts
	The Company has a Surplus Contract with the DLA Disposition Services in which the base term expired in February 2012 with two one year renewal options. The Department of Defense (DoD) has exercised both renewal options. In January 2014, the DoD awarded the Company with a follow-on contract to extend the terms of the Surplus Contract for a base term of ten months with two one-month renewal option periods. The DoD has exercised both renewal options.  Under the current (second) Surplus Contract, the Company is required to purchase all usable surplus property offered to the Company by the DoD at a fixed percentage equal to 1.8% of the DoD’s original acquisition value (OAV). The Company retains 100% of the profits from the resale of the property and bears all of the costs for the merchandising and sale of the property. Included in Accrued expenses and other current liabilities in the Consolidated Balance Sheet is a liability to the DoD of approximately $15,369,000 and $19,545,000 for inventory as of December 31, 2014 and September 30, 2014, respectively. The Surplus Contract contains a provision providing for a mutual termination of the contract for convenience.
	As a result of the current (second) Surplus Contract, the Company remarkets all DoD surplus turned into the DLA Disposition Services, excluding rolling stock, available for sale within the United States, Puerto Rico, and Guam.
	The DoD, in accordance with the award of the next (third) Surplus Contract, split the contract into a rolling stock and a non-rolling stock contract; with bidding on these two surplus contracts held on April 1 and 2, 2014.  On April 1, 2014, the Company was the high bidder for the non-rolling stock surplus contract with a bid equal to 4.35% of the DoD’s OAV. The non-rolling stock surplus contract has a base term of two years with four one-year renewal options.  Following the bidding event on April 2, 2014 for the DoD rolling stock contract, the Company withdrew from the live auction bidding for this contract. Bidding reached a level that the Company determined would be economically unsustainable under the terms of the new contract, jeopardizing the high level of service the Company has historically provided the agency client.  The price the Company will pay for inventory under the new non-rolling stock contract is expected to increase from 1.8% to 4.35% of OAV, resulting in significantly higher Cost of Goods Sold (COGS) in fiscal year 2015 and beyond. Additionally, the Company expects to cease the sale of DoD rolling stock under the new contract, which has historically accounted for approximately 30-35% of the overall revenue for the current (second) DoD Surplus contract, resulting in lower revenue in future periods. The Company continues to operate the current (second) DoD Surplus contract to sell all useable surplus assets of the DoD, including non-rolling stock assets through February 13, 2015.
	The Company has a Scrap Contract with the DLA Disposition Services in which the base term expired in June 2012 with three one year renewal options.  The DoD has exercised all three renewal options. Under the terms of the Scrap Contract, the Company is required to purchase all scrap government property referred to it by the DLA Disposition Services. The Company distributes to the DLA Disposition Services 77% of the profits realized from the ultimate sale of the inventory, after deduction for allowable expenses, as provided for under the terms of the contract. The Contract also has a performance incentive that allows the Company to receive up to an additional 2% of the profit sharing distribution.  For the three months ended December 31, 2014 and 2013 profit-sharing distributions to the DLA Disposition Services under the Scrap Contract were $9,592,000 and $10,130,000, respectively, including accrued amounts, as of December 31, 2014 and 2013 of $4,347,000 and $4,474,000, respectively. The Scrap Contract may be terminated by either the Company or the DLA Disposition Services if the rate of return performance ratio does not exceed specified benchmark ratios for two consecutive quarterly periods and the preceding twelve months. The Company has performed in excess of the benchmark ratios throughout the contract period through December 31, 2014.
	As a result of the Scrap Contract, the Company is the sole remarketer of all U.S. Department of Defense scrap turned into the DLA Disposition Services available for sale within the United States, Puerto Rico, and Guam.

Goodwill

Goodwill	3 Months Ended
	Dec. 31, 2014
Goodwill
Goodwill
	4.Goodwill
	The goodwill of acquired companies is primarily related to the acquisition of an experienced and knowledgeable workforce.  The following summarizes goodwill activity for the periods indicated:
		Goodwill
		(in thousands)
	Balance at September 30, 2014	$	209,656
	Translation adjustments	(1,945		)
	Impairment of goodwill	(85,071		)
	Balance at December 31, 2014	$	122,640
	Impairment of Goodwill
	The Company performs the annual goodwill impairment assessment as of the end of the fiscal year.  The last impairment assessment was performed as of September 30, 2014 and the results of that assessment indicated that goodwill was not impaired.  During the three months ended December 31, 2014, the Company identified indicators of impairment, including the termination of the Wal-Mart Agreement on December 1, 2014 (as discussed in Notes 5 and 13), the significant decline in market capitalization during the quarter, and continued uncertainty in projections for fiscal year 2015 and beyond.  As a result, we tested the goodwill for impairment as of December 31, 2014.  Based on the goodwill impairment analysis as of the interim testing date, the carrying values of the Company’s two reporting units exceeded their fair values.  Accordingly, step two of the goodwill impairment test was performed.  Step two of the goodwill impairment assessment measures the amount of impairment by comparing the book value of goodwill to its implied fair value. If the implied fair value of goodwill is more than its book value, then no impairment loss exists.  If the implied fair value of goodwill is less than its book value, then an impairment loss is recorded to adjust the book value of goodwill to its fair value. As a result of the step two test, the Company recorded a goodwill impairment charge of $85.1 million during the first quarter of 2015.
	Determining the fair value of a reporting unit requires the exercise of significant judgment, including judgments about the appropriate discount rates, terminal growth rates, weighted average costs of capital, exit multiples, and the amount and timing of expected future cash flows.  The judgments used in determining the fair value of the Company’s reporting units are based on significant unobservable inputs which causes the determination of the implied fair value of goodwill to fall within level three of the GAAP fair value hierarchy.  The cash flows employed in the discounted cash flow (“DCF”) analysis are based on the most recent budgets, forecasts, and business plans as well as various growth rate assumptions for years beyond the current business plan period.  Discount rate assumptions are based on an assessment of the risk inherent in the future revenue streams and cash flows of the reporting unit.  Various factors, including the failure to successfully implement the Company’s business plan for any of its reporting units could have a negative effect on the fair value of such reporting unit, and increase the risk of further impairments of goodwill in the future.

Intangible_Assets

Intangible Assets	3 Months Ended
	Dec. 31, 2014
Intangible Assets
Intangible Assets	5.Intangible Assets
	As a result of the acquisition of Jacobs Trading Company on October 1, 2011, the Company assumed the rights and obligations of Jacobs Trading Company under Seller’s Master Merchandise Salvage Contract (the “Wal-Mart Agreement”) dated May 13, 2011. On December 1, 2014, Wal-Mart provided the Company with written notice terminating the Wal-Mart Agreement effective December 8, 2014. As a result of the termination of the Wal-Mart Agreement, the Company concluded that the intangible asset related to the Wal-Mart Agreement was impaired and reduced the remaining unamortized contract intangible asset of $10.3 million to zero during the three months ended December 31, 2014. This impairment charge is recorded in Acquisition costs and related fair value adjustments and impairment of goodwill and long-lived assets in the statements of operations. Intangible assets at December 31, 2014 and September 30, 2014 consisted of the following:
				December 31, 2014							September  30, 2014
		Useful		Gross		Accumulated			Net		Gross		Accumulated			Net
		Life		Carrying		Amortization			Carrying		Carrying		Amortization			Carrying
		(in years)		Amount					Amount		Amount					Amount
		(dollars in thousands)
	Contract intangibles	2 – 5		$	—	$	—		$	—	$	33,300	$	(21,796	)	$	11,504
	Brand and technology	5-Mar		5,750		(3,064		)	2,686		5,947		(2,852		)	3,095
	Covenants not to compete	5-Mar		3,100		(1,919		)	1,181		4,330		(2,245		)	2,085
	Patent and trademarks	10-Mar		662		(267		)	395		672		(257		)	415
	Total intangible assets, net								$	4,262						$	17,099
	Future expected amortization of intangible assets at December 31, 2014 was as follows:
	Years ending September 30,	Future
		Amortization
		(in thousands)
	2015 (remaining nine months)	$	621
	2016	1,509
	2017	1,149
	2018	851
	2019 and after	132
	Total	$	4,262

Debt

Debt	3 Months Ended
	Dec. 31, 2014
Debt
Debt	6.Debt
	Senior Credit Facility
	In 2010, the Company entered into a senior credit facility (the Agreement) with a bank, which provides for borrowings up to $75.0 million, as amended.  On March 11, 2014, the Company amended this credit facility extending the term to May 31, 2015. Borrowings under the Agreement bear interest at an annual rate equal to the 30 day LIBOR rate plus 1.25% (1.413% at December 31, 2014) due monthly.  As of September 30, 2014 and December 31, 2014, the Company had no outstanding borrowings under the Agreement, and the Company’s borrowing availability was $64.9 million and $67.2 million, respectively, due to issued letters of credit for $10.1 million and $7.8 million, respectively.
	Borrowings under the Agreement are secured by substantially all of the assets of the Company. The Agreement contains certain financial and non-financial restrictive covenants including, among others, the requirements to maintain a minimum level of earnings before interest, income taxes, depreciation and amortization (EBITDA) and a minimum debt coverage ratio. As of December 31, 2014, the Company was in compliance with these covenants.

Income_Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2014
Income Taxes
Income Taxes
	7.Income Taxes
	The Company’s interim effective income tax rate is based on management’s best current estimate of the expected annual effective income tax rate. The Company estimates that its fiscal year 2015 tax rate will be approximately 24.6%.   The effective rate is significantly lower than historical rates due to permanent book to tax differences related to impairment of goodwill with no tax basis.  Impairment of goodwill with tax basis resulted in the recognition of a deferred tax asset of $22.1 million during this quarter.
	The Company applies the guidance related to uncertainty in income taxes. The Company has concluded that there were no uncertain tax positions identified during its analysis. The Company’s policy is to recognize interest and penalties in the period in which they occur in the income tax provision. The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, various state and local jurisdictions and in foreign jurisdictions, primarily Canada and the U.K. Currently, the Company is subject to income tax examinations for fiscal 2011 through 2013. The Company anticipates no material tax liability to arise from these examinations. The statute of limitations for U.S. federal income tax returns for years prior to fiscal 2011 is now closed. However, certain tax attribute carryforwards that were generated prior to fiscal 2011 may be adjusted upon examination by tax authorities if they are utilized.

Stockholders_Equity

Stockholders' Equity	3 Months Ended
	Dec. 31, 2014
Stockholders' Equity
Stockholders' Equity	8.Stockholders’ Equity
	Share Repurchase Program
	Since 2008, the Company’s Board of Directors has approved the repurchase of up to $101.9 million in shares under a share repurchase program. Under the program, the Company is authorized to repurchase the issued and outstanding shares of common stock.  Share repurchases may be made through open market purchases, privately negotiated transactions or otherwise, at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements and other market conditions.  The repurchase program may be discontinued or suspended at any time, and will be funded using the Company’s available cash. The Company’s Board of Directors reviews the share repurchase program periodically, the last such review having occurred in February 2014. The Company did not repurchase any shares during the three months ended December 31, 2014 or 2013.  As of December 31, 2014, there was approximately $5.1 million that may yet be expended to repurchase shares under the program.
	2006 Omnibus Long-Term Incentive Plan (the 2006 Plan)
	Under the 2006 Plan, as amended, 10,000,000 shares of common stock were available for issuance. At September 30, 2013, there were 1,819,050 shares remaining reserved for issuance in connection with awards under the 2006 Plan.  During fiscal year 2014, the Company granted options to purchase 437,755 shares to employees and directors with exercise prices between $21.53 and $31.37, and options to purchase 181,094 shares were forfeited. During fiscal year 2014, the Company granted 1,040,748 restricted shares to employees and directors at prices ranging from $13.11 to $38.09, and 250,586 restricted shares were forfeited. At September 30, 2014, there were 772,227 shares remaining reserved for issuance in connection with awards under the 2006 Plan. During the three months ended December 31, 2014, the Company did not issue any options to employees and directors, and options to purchase 30,829 shares were forfeited. During the three months ended December 31, 2014, the Company issued 111,300 restricted shares to employees and directors at the price of $12.57, and 61,171 restricted shares were forfeited. At December 31, 2014, there were 752,927 shares remaining reserved for issuance in connection with awards under the 2006 Plan. The maximum number of shares subject to options or stock appreciation rights that can be awarded under the 2006 Plan to any person is 1,000,000 per year. The maximum number of shares that can be awarded under the 2006 Plan to any person, other than pursuant to an option or stock appreciation right, is 700,000 per year. These shares and options generally vest over a period of one to four years conditioned on continued employment for the incentive period.
	Stock Option Activity
	A summary of the Company’s stock option activity for the year ended September 30, 2014 and the three months ended December 31, 2014 is as follows:
		Options		Weighted-
				Average
				Exercise Price
	Options outstanding at September 30, 2013	1,592,406		$	16.46
	Options granted	437,755		22.41
	Options exercised	(383,160	)	10.83
	Options canceled	(181,094	)	18.14
	Options outstanding at September 30, 2014	1,465,907		19.5
	Options granted	—		—
	Options exercised	(11,043	)	6.41
	Options canceled	(30,829	)	20.85
	Options outstanding at December 31, 2014	1,424,035		19.58
	Options exercisable at December 31, 2014	941,461		16.79
	The intrinsic value and weighted average remaining contractual life in years of outstanding and exercisable options at December 31, 2014 is approximately $94,000 and 5.76 and $82,000 and 4.33, respectively, based on a stock price of $8.17 on December 31, 2014.  Over the last three years, volatility rates have ranged from 50.90% - 60.61%, a dividend rate of 0%, risk free interest rates have ranged from 0.12% - 1.21% and expected forfeiture rates have ranged from 19.00% - 22.80%.
	Restricted Share Activity
	A summary of the Company’s restricted share activity for the year ended September 30, 2014 and the three months ended December 31, 2014 is as follows:
		Restricted		Weighted-
		Shares		Average
				Fair Value
	Unvested restricted shares at September 30, 2013	1,543,869		28.89
	Restricted shares granted	1,040,748		18.78
	Restricted shares vested	(436,204	)	24.72
	Restricted shares canceled	(250,586	)	23.87
	Unvested restricted shares at September 30, 2014	1,897,827		24.96
	Restricted shares granted	111,300		12.57
	Restricted shares vested	(275,562	)	26.39
	Restricted shares canceled	(61,171	)	25.23
	Unvested restricted shares at December 31, 2014	1,672,394		23.89
	The intrinsic value and weighted average remaining contractual life in years of unvested restricted shares at December 31, 2014 is approximately $13,663,000 and 8.52, respectively, based on a stock price of $8.17 on December 31, 2014.

Fair_Value_Measurement

Fair Value Measurement	3 Months Ended
	Dec. 31, 2014
Fair Value Measurement
Fair Value Measurement	9.Fair Value Measurement
	The Company measures and records in the accompanying consolidated financial statements certain liabilities at fair value on a recurring basis. Authoritative guidance issued by the FASB establishes a fair value hierarchy for those instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company’s assumptions (unobservable inputs).  The hierarchy consists of three levels:
	Level 1	Quoted market prices in active markets for identical assets or liabilities;
	Level 2	Inputs other than Level 1 inputs that are either directly or indirectly observable; and
	Level 3	Unobservable inputs developed using estimates and assumptions developed by the Company, which reflect those that a market participant would use.
	As of December 31, 2014 and September 30, 2014, the Company had no Level 1 or Level 2 assets or liabilities that were recorded at fair value on a recurring basis. As of December 31, 2014 and September 30, 2014, the Company’s liability for contingent consideration related to the NESA acquisition of zero is the only liability measured at fair value on a recurring basis and is classified as Level 3 within the fair value hierarchy.  Under the terms of the agreement, the earn-out is based on EBITDA earned by NESA during the 36-48 months after closing.  EBITDA growth used in the calculation is capped at 20% of prior period.  The Company’s estimate for the total payout ranges from zero to a maximum $37.7 million.  The Company’s estimate of the fair value of the earn-out as of the date of acquisition was $18.0 million.  Based upon revised projections and as a result of unfavorable developments in the business, the Company determined that the fair value of the earn-out as of June 30, 2014 was zero and reversed the liability of $18.6 million.  The Company continues to believe that the fair value of the earn-out is zero as of December 31, 2014.  The changes in liabilities measured at fair value for which the Company has used Level 3 inputs to determine fair value for the year ended September 30, 2014 and the three months ended December 31, 2014 are as follows ($ in thousands):
			Level 3
			Liabilities
	Balance at September 30, 2013		$	18,390
	Acquisition contingent consideration		—
	Settlements		—
	Change in fair value of contingent consideration		(18,390		)
	Balance at September 30, 2014		—
	Acquisition contingent consideration		—
	Settlements		—
	Change in fair value of contingent consideration		—
	Balance at December 31, 2014		$	—
	When valuing its Level 3 liabilities, the Company gives consideration to operating results, financial condition, economic and/or market events, and other pertinent information that would impact its estimate of the expected earn-out payment. The valuation procedures are primarily based on management’s projection of EBITDA for the acquired businesses and applying a discount to the expected earn out payments to estimate fair value. Discount rates range from 2.0% to 6.0% and are based on the Company’s cost of borrowing. Changes in the discount rate are not expected to have a material impact on the fair value of these liabilities. Because of the inherent uncertainty, this estimated value may differ significantly from the value that would have been used had a ready market for the liability existed, and it is reasonably possible that the difference could be material. Changes in fair value of the Company’s Level 3 liabilities are recorded in Acquisition Costs in the Consolidated Statements of Operations.
	The Company’s financial assets not measured at fair value are cash and cash equivalents (which includes cash and commercial paper with original maturities of less than 90 days).  The Company believes the carrying value approximates fair value due to the short term maturity of these instruments.

Defined_Benefit_Pension_Plan

Defined Benefit Pension Plan	3 Months Ended
	Dec. 31, 2014
Defined Benefit Pension Plan
Defined Benefit Pension Plan	10.Defined Benefit Pension Plan
	Certain employees of GoIndustry, which the Company acquired in July 2012, are covered by a qualified defined benefit pension plan.
	The net periodic benefit cost recognized for the three months ended December 31, 2014 and 2013 included the following components:
	Qualified Defined Benefit Pension Plan	Three months ended December 31,
	(in thousands)	2014			2013
	Service cost	—			—
	Interest cost	$	248		$	280
	Expected return on plan assets	(299		)	(322		)
	Amortization of prior service cost	—			—
	Amortization of actuarial (gain)/loss	—			—
	Amortization of transitional obligation/(asset)	—			—
	Total net periodic benefit cost	$	(51	)	$	(42	)

Business_Realignment_Expenses

Business Realignment Expenses	3 Months Ended
	Dec. 31, 2014
Business Realignment Expenses
Business Realignment Expenses
	11.Business Realignment Expenses
	On October 1, 2014, the Company announced that it had realigned its workforce in response to the new terms and scope of its DoD (third) Surplus Contract for non-rolling stock and to adjust for the efficiencies realized in its commercial business through ongoing integration efforts to support the future vision and growth of the Company. The business realignment included employee reductions across the organization, and included positions related to the support of the DoD surplus business, capital asset and retail supply chain operations, and corporate functions.  The business realignment expenses incurred during the fiscal year ended September 30, 2014 included cash costs of $1.8 million in employee severance and benefit costs.
	The table below sets forth the significant components and activity in the business realignment initiatives for the three months ended December 31, 2014.
		Liability		Business		Cash Payments		Liability
		Balance at		Realignment				Balance at
		September 30,		Expenses				December 31,
		2014						2014
		(in thousands)
	Employee severance and benefit costs	$	1,780	(9	)	(532	)	$	1,239
	Total	$	1,780	(9	)	(532	)	$	1,239
	The benefits are expected to be paid during fiscal year 2015.  The business realignment expenses are recorded in costs and expenses from operations in the statement of operations for the year ended September 30, 2014, and in accrued expenses and other current liabilities on the balance sheet as of September 30, 2014 and December 31, 2014.

Legal_Proceedings

Legal Proceedings	3 Months Ended
	Dec. 31, 2014
Legal Proceedings
Legal Proceedings
	12.Legal Proceedings
	On July 14, 2014, Leonard Howard filed a putative class action complaint in the United States District Court for the District of Columbia against the Company and its chief executive officer, chief financial officer, and chief accounting officer, on behalf of shareholders who purchased the Company’s common stock between February 1, 2012 and May 7, 2014.  The complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by, among other things, misrepresenting the Company’s growth initiative, growth potential, and financial and operating conditions, thereby artificially inflating its share price, and seeks unspecified compensatory damages and costs and expenses, including attorneys’ and experts’ fees.  On October 14, 2014, the Court appointed Caisse de Dépôt et Placement du Québec and the Newport News Employees’ Retirement Fund as co-lead plaintiffs.  The Plaintiffs filed an amended complaint on December 15, 2014 which alleges substantially similar claims but does not name the chief accounting officer as a defendant.   The Company believes the allegations are without merit and intends to move to dismiss the amended complaint.  The Company cannot estimate a range of a potential liability, if any, at this time.

Termination_of_the_WalMart_Agr

Termination of the Wal-Mart Agreement	3 Months Ended
	Dec. 31, 2014
Termination of the Wal-Mart Agreement
	13.Termination of the Wal-Mart Agreement
	As a result of the acquisition of Jacobs Trading Company on October 1, 2011, we assumed the rights and obligations of Jacobs Trading Company under Seller’s Master Merchandise Salvage Contract (the “Wal-Mart Agreement”) dated May 13, 2011.  On December 1, 2014, Wal-Mart provided us written notice (the “Termination Notice”) terminating the Wal-Mart Agreement effective December 8, 2014.  The Termination Notice alleged that we failed to comply with certain provisions under the Wal-Mart Agreement with respect to service level requirements and restrictions on the disposition of merchandise. We disputed these allegations and contested the termination of the Wal-Mart Agreement with Wal-Mart.  As a result of negotiations with Wal-Mart, on January 22, 2015, we finalized a settlement whereby, in exchange for both parties waiving all respective claims against the other, Wal-Mart would pay $7.5 million in damages.  The amount of the settlement was recorded within accounts receivable and a reduction of inventory on the consolidated balance sheet as of December 31, 2014, as the settlement compensated the Company for the overpayment of inventory from Wal-Mart.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2014
Summary of Significant Accounting Policies
Unaudited Interim Financial Information	Unaudited Interim Financial Information
	The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) for interim financial information. Accordingly, they do not include all of the information and notes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting of normal, recurring adjustments, considered necessary for a fair presentation have been included. The information disclosed in the notes to the consolidated financial statements for these periods is unaudited. Operating results for the three months ended December 31, 2014 are not necessarily indicative of the results that may be expected for the year ending September 30, 2015 or any future period.  Fee revenue is revenue earned under the consignment model, as well as other fee revenue, and is presented separately as it accounts for more than 10% of total revenue.
	The Company has evaluated subsequent events through the date that these financial statements were issued and filed with the Securities and Exchange Commission.
New Accounting Pronouncements	New Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (FASB) issued a new standard that will change the way the Company recognizes revenue and significantly expand the disclosure requirements for revenue arrangements.  The new standard will be effective for the Company beginning on October 1, 2017, and may be adopted either retrospectively or on a modified retrospective basis whereby the new standard would be applied to new and existing arrangements with remaining performance obligations as of the effective date, with a cumulative catch-up adjustment recorded to retained earnings at the effective date for existing arrangements with remaining performance obligations.  Early adoption is not permitted.  The Company is currently evaluating the methods of adoption allowed by the new standard and the effect that adoption of the standard is expected to have on the consolidated financial statements and related disclosures.  As a result, the Company’s evaluation of the effect of the new standard will likely extend over several future periods.
Business Combinations	Business Combinations
	The Company recognizes all of the assets acquired, liabilities assumed, contractual contingencies, and contingent consideration at their fair value on the acquisition date. Acquisition-related costs are recognized separately from the acquisition and expensed as incurred. Restructuring costs incurred in periods subsequent to the acquisition date are expensed when incurred. Subsequent changes to the purchase price (i.e., working capital adjustments) or other fair value adjustments determined during the measurement period are recorded as an adjustment to goodwill, with the exception of contingent consideration, which is recognized in the statement of operations in the period it is modified. All subsequent changes to a valuation allowance or uncertain tax position that relate to the acquired company and existed at the acquisition date that occur both within the measurement period and as a result of facts and circumstances that existed at the acquisition date are recognized as an adjustment to goodwill. All other changes in valuation allowances are recognized as a reduction or increase to income tax expense.
Accounts Receivable	Accounts Receivable
	Accounts receivable are recorded at the invoiced amount and are non-interest bearing. The Company maintains an allowance for doubtful accounts to reserve for potentially uncollectible receivables. Allowances are based on management’s judgment, which considers historical experience and specific knowledge of accounts where collectability may not be probable. The Company makes provisions based on historical bad debt experience, a specific review of all significant outstanding invoices and an assessment of general economic conditions.
Earnings per Share	Earnings per Share
	Basic net income attributable to common stockholders per share is computed by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted net income attributable to common stockholders per share includes the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. The Company had 1,672,394 unvested restricted shares outstanding at December 31, 2014, which were issued at prices ranging from $7.48 to $52.55, of which 1,672,394 and 127,457 shares have been excluded in the calculation of diluted income per share for the three months ended December 31, 2014 and 2013, respectively, due to the net loss incurred for the three months ended December 31, 2014 and due to the difference between the issuance price and the average market price for the period in which they have been outstanding for the three months ended December 31, 2013. The Company has also excluded the following stock options in its calculation of diluted income per share because the option exercise prices were greater than the average market prices for the applicable period:
		(a)		for the three months ended December 31, 2014, 1,424,035 options; and
		(b)		for the three months ended December 31, 2013, 73,483 options.
	The following summarizes the potential outstanding common stock of the Company as of the dates set forth below:
			Three Months Ended December 31,
			2014			2013
			(unaudited)
			(dollars in thousands except per
			share amounts)
	Weighted average shares calculation:
	Basic weighted average shares outstanding		29,926,273			32,143,064
	Treasury stock effect of options and restricted stock		—			515,006
	Diluted weighted average common shares outstanding		29,926,273			32,658,070
	Net (loss) income		$	(64,116	)	$	7,093
	Basic (loss) income per common share		$	(2.14	)	$	0.22
	Diluted (loss) income per common share		$	(2.14	)	$	0.22
Stock-Based Compensation	Stock-Based Compensation
	The Company estimates the fair value of share-based awards on the date of grant. The fair value of stock options is determined using the Black-Scholes option-pricing model. The fair value of restricted stock awards is based on the closing price of the Company’s common stock on the date of grant. The determination of the fair value of the Company’s stock option awards is based on a variety of factors including, but not limited to, the Company’s common stock price, expected stock price volatility over the expected life of awards, and actual and projected exercise behavior. Additionally, the Company has estimated forfeitures for share-based awards at the dates of grant based on historical experience, adjusted for future expectation. The forfeiture estimate is revised as necessary if actual forfeitures differ from these estimates.
	The Company issues restricted stock awards where restrictions lapse upon either the passage of time (service vesting), achieving performance targets, or some combination of these restrictions. For those restricted stock awards with only service conditions, the Company recognizes compensation cost on a straight-line basis over the explicit service period. For awards with both performance and service conditions, the Company starts recognizing compensation cost over the remaining service period, when it is probable the performance condition will be met. For stock awards that contain performance vesting conditions, the Company excludes these awards from diluted earnings per share computations until the contingency is met as of the end of that reporting period.  For awards to non-employees (who are not directors), the Company records compensation cost when the performance condition is met.
	The Company presents the cash flows resulting from the tax benefits resulting from tax deductions in excess of the compensation cost recognized for those options (excess tax benefits) as a financing activity with a corresponding operating cash outflow in the Consolidated Statements of Cash Flows.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Dec. 31, 2014
Summary of Significant Accounting Policies
Summary of potential outstanding common stock
		Three Months Ended December 31,
		2014			2013
		(unaudited)
		(dollars in thousands except per
		share amounts)
	Weighted average shares calculation:
	Basic weighted average shares outstanding	29,926,273			32,143,064
	Treasury stock effect of options and restricted stock	—			515,006
	Diluted weighted average common shares outstanding	29,926,273			32,658,070
	Net (loss) income	$	(64,116	)	$	7,093
	Basic (loss) income per common share	$	(2.14	)	$	0.22
	Diluted (loss) income per common share	$	(2.14	)	$	0.22

Goodwill_Tables

Goodwill (Tables)	3 Months Ended
	Dec. 31, 2014
Goodwill
Summary of goodwill activity		Goodwill
		(in thousands)
	Balance at September 30, 2014	$	209,656
	Translation adjustments	(1,945		)
	Impairment of goodwill	(85,071		)
	Balance at December 31, 2014	$	122,640

Intangible_Assets_Tables

Intangible Assets (Tables)	3 Months Ended
	Dec. 31, 2014
Intangible Assets
Schedule of intangible assets
				December 31, 2014							September  30, 2014
		Useful		Gross		Accumulated			Net		Gross		Accumulated			Net
		Life		Carrying		Amortization			Carrying		Carrying		Amortization			Carrying
		(in years)		Amount					Amount		Amount					Amount
		(dollars in thousands)
	Contract intangibles	2 – 5		$	—	$	—		$	—	$	33,300	$	(21,796	)	$	11,504
	Brand and technology	5-Mar		5,750		(3,064		)	2,686		5,947		(2,852		)	3,095
	Covenants not to compete	5-Mar		3,100		(1,919		)	1,181		4,330		(2,245		)	2,085
	Patent and trademarks	10-Mar		662		(267		)	395		672		(257		)	415
	Total intangible assets, net								$	4,262						$	17,099
Schedule of future expected amortization of intangible assets
	Years ending September 30,	Future
		Amortization
		(in thousands)
	2015 (remaining nine months)	$	621
	2016	1,509
	2017	1,149
	2018	851
	2019 and after	132
	Total	$	4,262

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	3 Months Ended
	Dec. 31, 2014
Stockholders' Equity
Summary of stock option activity
		Options		Weighted-
				Average
				Exercise Price
	Options outstanding at September 30, 2013	1,592,406		$	16.46
	Options granted	437,755		22.41
	Options exercised	(383,160	)	10.83
	Options canceled	(181,094	)	18.14
	Options outstanding at September 30, 2014	1,465,907		19.5
	Options granted	—		—
	Options exercised	(11,043	)	6.41
	Options canceled	(30,829	)	20.85
	Options outstanding at December 31, 2014	1,424,035		19.58
	Options exercisable at December 31, 2014	941,461		16.79
Summary of restricted share activity
		Restricted		Weighted-
		Shares		Average
				Fair Value
	Unvested restricted shares at September 30, 2013	1,543,869		28.89
	Restricted shares granted	1,040,748		18.78
	Restricted shares vested	(436,204	)	24.72
	Restricted shares canceled	(250,586	)	23.87
	Unvested restricted shares at September 30, 2014	1,897,827		24.96
	Restricted shares granted	111,300		12.57
	Restricted shares vested	(275,562	)	26.39
	Restricted shares canceled	(61,171	)	25.23
	Unvested restricted shares at December 31, 2014	1,672,394		23.89

Fair_Value_Measurement_Tables

Fair Value Measurement (Tables)	3 Months Ended
	Dec. 31, 2014
Fair Value Measurement
Schedule of changes in liabilities measured at fair value for which Level 3 inputs used to determine fair value	The changes in liabilities measured at fair value for which the Company has used Level 3 inputs to determine fair value for the year ended September 30, 2014 and the three months ended December 31, 2014 are as follows ($ in thousands):
		Level 3
		Liabilities
	Balance at September 30, 2013	$	18,390
	Acquisition contingent consideration	—
	Settlements	—
	Change in fair value of contingent consideration	(18,390		)
	Balance at September 30, 2014	—
	Acquisition contingent consideration	—
	Settlements	—
	Change in fair value of contingent consideration	—
	Balance at December 31, 2014	$	—

Defined_Benefit_Pension_Plan_T

Defined Benefit Pension Plan (Tables)	3 Months Ended
	Dec. 31, 2014
Defined Benefit Pension Plan
Schedule of net periodic benefit cost recognized
	Qualified Defined Benefit Pension Plan	Three months ended December 31,
	(in thousands)	2014			2013
	Service cost	—			—
	Interest cost	$	248		$	280
	Expected return on plan assets	(299		)	(322		)
	Amortization of prior service cost	—			—
	Amortization of actuarial (gain)/loss	—			—
	Amortization of transitional obligation/(asset)	—			—
	Total net periodic benefit cost	$	(51	)	$	(42	)

Business_Realignment_Expenses_

Business Realignment Expenses (Tables)	3 Months Ended
	Dec. 31, 2014
Business Realignment Expenses
Schedule of significant components and activity in business realignment initiatives		Liability		Business		Cash Payments		Liability
		Balance at		Realignment				Balance at
		September 30,		Expenses				December 31,
		2014						2014
		(in thousands)
	Employee severance and benefit costs	$	1,780	(9	)	(532	)	$	1,239
	Total	$	1,780	(9	)	(532	)	$	1,239

Organization_Details

Organization (Details)	3 Months Ended
	Dec. 31, 2014
	segment
	item
Organization
Number of Product Categories Offered, Minimum	500
Reportable segment, number	1

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details) (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings per Share
Treasury stock effect of options and restricted stock (in shares)		515,006
Restricted shares
Earnings per Share
Unvested restricted shares	1,672,394		1,897,827	1,543,869
Issue price (in dollars per share)	$23.89		$24.96	$28.89
Unvested shares excluded in calculation of diluted income per share	1,672,394	127,457
Restricted shares | Minimum
Earnings per Share
Issue price (in dollars per share)	$7.48
Restricted shares | Maximum
Earnings per Share
Issue price (in dollars per share)	$52.55

Summary_of_Significant_Account4

Summary of Significant Accounting Policies (Details 2) (Employee and director options)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Employee and director options
Stock options excluded from the calculation of diluted income per share
Stock options excluded from the calculation of diluted income per share (in shares)	1,424,035	73,483

Summary_of_Significant_Account5

Summary of Significant Accounting Policies (Details 3) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Weighted average shares calculation:
Basic weighted average shares outstanding	29,926,273	32,143,064
Treasury stock effect of options and restricted stock (in shares)		515,006
Diluted weighted average common shares outstanding	29,926,273	32,658,070
Net (loss) income	($64,116)	$7,093
Basic (loss) income per common share (in dollars per share)	($2.14)	$0.22
Diluted (loss) income per common share (in dollars per share)	($2.14)	$0.22

Summary_of_Significant_Account6

Summary of Significant Accounting Policies (Detail 4) (USD $)	Dec. 31, 2014
Summary of Significant Accounting Policies
Uncertain tax positions	$0

Defense_Logistics_Agency_DLA_D1

Defense Logistics Agency (DLA) Disposition Services Contracts (Details) (USD $)	3 Months Ended		1 Months Ended		0 Months Ended		1 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Jan. 31, 2014	Feb. 29, 2012	Apr. 02, 2014	Apr. 01, 2014	Jun. 30, 2012	Sep. 30, 2014
			item	item	contract	item	item
Significant Contracts
Liability for inventory included in accrued expenses and other current liabilities	$36,951,000							$44,484,000
Profit-sharing distributions	9,592,000	10,130,000
Profit-sharing distributions accrued	4,347,000							4,740,000
Surplus Contract
Significant Contracts
Number of renewal options				2
Term of renewal options				1 year
Base term of follow-on contract extension			10 months
Number of renewal options under follow-on contract			2
Term of each renewal option under follow-on contract			1 month
Usable surplus property to be purchased as a fixed percentage of DoD's original acquisition value	1.80%
Profits from resale of the property retained (as a percent)	100.00%
Liability for inventory included in accrued expenses and other current liabilities	15,369,000							19,545,000
Surplus Contract | Rolling stock | Surplus contract revenue | U.S. Department of Defense | Minimum
Significant Contracts
Concentration risk (as a percent)	30.00%
Surplus Contract | Rolling stock | Surplus contract revenue | U.S. Department of Defense | Maximum
Significant Contracts
Concentration risk (as a percent)	35.00%
Sale of surplus assets of U.S. Department of Defense
Significant Contracts
Number of surplus contracts on which bidding was held					2
Non-rolling stock surplus contract | Expected
Significant Contracts
Number of renewal options						4
Term of renewal options						1 year
Usable surplus property to be purchased as a fixed percentage of DoD's original acquisition value						4.35%
Term of contract						2 years
Scrap Contract
Significant Contracts
Number of renewal options							3
Term of renewal options							1 year
Number of renewal options exercised	3
Profits distributed to DLA Disposition Services (as a percent)	77.00%
Profit-sharing distributions	9,592,000	10,130,000
Profit-sharing distributions accrued	$4,347,000	$4,474,000
Number of consecutive quarterly periods in which performance ratio does not exceed benchmark ratios resulting in contract termination	2
Number of preceding months in which performance ratio does not exceed benchmark ratios resulting in contract termination	12 months
Scrap Contract | Maximum
Significant Contracts
Additional profit sharing distribution (as a percent)	2.00%

Goodwill_Details

Goodwill (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Goodwill
Balance at the beginning of the period	$209,656
Translation adjustments	-1,945
Impairment of goodwill	-85,071
Balance at the end of the period	122,640
Goodwill impairment charge	($85,071)

Intangible_Assets_Details

Intangible Assets (Details) (USD $)	3 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Dec. 08, 2014
Intangible Assets
Net Carrying Amount	$4,262,000	$17,099,000
Contract intangibles
Intangible Assets
Gross Carrying Amount		33,300,000
Accumulated Amortization		-21,796,000
Net Carrying Amount		11,504,000	0
Contract intangibles | Contract Termination
Intangible Assets
Write off of intangible asset	10,300,000
Contract intangibles | Minimum
Intangible Assets
Useful Life	2 years
Contract intangibles | Maximum
Intangible Assets
Useful Life	5 years
Brand and technology intangible assets
Intangible Assets
Gross Carrying Amount	5,750,000	5,947,000
Accumulated Amortization	-3,064,000	-2,852,000
Net Carrying Amount	2,686,000	3,095,000
Brand and technology intangible assets | Minimum
Intangible Assets
Useful Life	3 years
Brand and technology intangible assets | Maximum
Intangible Assets
Useful Life	5 years
Covenants not to compete
Intangible Assets
Gross Carrying Amount	3,100,000	4,330,000
Accumulated Amortization	-1,919,000	-2,245,000
Net Carrying Amount	1,181,000	2,085,000
Covenants not to compete | Minimum
Intangible Assets
Useful Life	3 years
Covenants not to compete | Maximum
Intangible Assets
Useful Life	5 years
Patent and trademarks
Intangible Assets
Gross Carrying Amount	662,000	672,000
Accumulated Amortization	-267,000	-257,000
Net Carrying Amount	$395,000	$415,000
Patent and trademarks | Minimum
Intangible Assets
Useful Life	3 years
Patent and trademarks | Maximum
Intangible Assets
Useful Life	10 years

Intangible_Assets_Details_2

Intangible Assets (Details 2) (USD $)	Dec. 31, 2014	Sep. 30, 2014
In Thousands, unless otherwise specified
Future expected amortization of intangible assets
2015 (remaining nine months)	$621
2016	1,509
2017	1,149
2018	851
2019 and after	132
Net Carrying Amount	$4,262	$17,099

Debt_Details

Debt (Details) (Amended Senior Credit Facility, expiring May 31, 2014, USD $)	3 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014
Debt
Maximum borrowings	$75
Interest rate basis	30 day LIBOR
Percentage added to reference rate	1.25%
Interest rate at period end (as a percent)	1.41%
Amount outstanding	0	0
Available borrowing capacity	67.2	64.9
Issued letters of credit
Debt
Amount outstanding	$7.80	$10.10

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended
	Dec. 31, 2014	Sep. 30, 2014
Estimated effective tax rate (as a percent)	24.60%
Uncertain tax positions	$0
Deferred tax asset recognized after impairment	28,305,000	5,236,000
Deferred tax (benefit) expense:
Total deferred tax benefit (expense)	-22,145,000
Goodwill [Member]
Deferred tax asset recognized after impairment	$22,100,000

Stockholders_Equity_Details

Stockholders' Equity (Details) (USD $)	Dec. 31, 2014
In Millions, unless otherwise specified
Stockholders' Equity
Share repurchase program approved amount	$101.90
Amount yet to be expended under the program	$5.10

Stockholders_Equity_Details_2

Stockholders' Equity (Details 2) (USD $)	3 Months Ended	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Sep. 30, 2013
2006 Omnibus Long-Term Incentive Plan (the 2006 Plan)
Shares available for issuance	10,000,000
Remaining shares reserved for issuance	752,927	772,227	1,819,050
Employee and director options
2006 Omnibus Long-Term Incentive Plan (the 2006 Plan)
Options granted (in shares)		437,755
Options granted, exercise prices (in dollars per share)		$22.41
Options forfeited (in shares)	30,829	181,094
Employee and director options | Minimum
2006 Omnibus Long-Term Incentive Plan (the 2006 Plan)
Options granted, exercise prices (in dollars per share)		$21.53
Shares and options vesting period	1 year
Employee and director options | Maximum
2006 Omnibus Long-Term Incentive Plan (the 2006 Plan)
Options granted, exercise prices (in dollars per share)		$31.37
Shares and options vesting period	4 years
Restricted shares
2006 Omnibus Long-Term Incentive Plan (the 2006 Plan)
Restricted shares granted (in shares)	111,300	1,040,748
Restricted shares granted (in dollars per share)	12.57	$18.78
Restricted shares forfeited (in shares)	61,171	250,586
Restricted shares | Minimum
2006 Omnibus Long-Term Incentive Plan (the 2006 Plan)
Restricted shares granted (in dollars per share)		$13.11
Shares and options vesting period	1 year
Restricted shares | Maximum
2006 Omnibus Long-Term Incentive Plan (the 2006 Plan)
Restricted shares granted (in dollars per share)		$38.09
Shares and options vesting period	4 years
Options or stock appreciation rights | Maximum
2006 Omnibus Long-Term Incentive Plan (the 2006 Plan)
Number of shares awarded per person per year	1,000,000
Other than options or stock appreciation rights | Maximum
2006 Omnibus Long-Term Incentive Plan (the 2006 Plan)
Number of shares awarded per person per year	700,000

Stockholders_Equity_Details_3

Stockholders' Equity (Details 3) (Employee and director options, USD $)	3 Months Ended	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014
Employee and director options
Stock option activity
Options outstanding at the beginning of the period (in shares)	1,465,907	1,592,406
Options granted (in shares)		437,755
Options exercised (in shares)	-11,043	-383,160
Options cancelled (in shares)	-30,829	-181,094
Options outstanding at the end of the period (in shares)	1,424,035	1,465,907
Options exercisable at the end of the period (in shares)	941,461
Weighted-Average Exercise Price
Options outstanding at the beginning of the period (in dollars per share)	$19.50	$16.46
Options granted (in dollars per share)		$22.41
Options exercised (in dollars per share)	$6.41	$10.83
Options cancelled (in dollars per share)	$20.85	$18.14
Options outstanding at the end of the period (in dollars per share)	$19.58	$19.50
Options exercisable at the end of the period (in dollars per share)	$16.79

Stockholders_Equity_Details_4

Stockholders' Equity (Details 4) (Employee and director options, USD $)	3 Months Ended	36 Months Ended
	Dec. 31, 2014	Dec. 31, 2014
Intrinsic value and weighted average remaining contractual life in years of outstanding and exercisable options
Intrinsic value of outstanding shares	$94,000	$94,000
Weighted average remaining contractual life of outstanding options	5 years 9 months 4 days
Intrinsic value of exercisable options	$82,000	$82,000
Weighted average remaining contractual life of exercisable options	4 years 3 months 29 days
Stock price (in dollars per share)	$8.17	$8.17
Fair value assumptions
Volatility rate, minimum (as a percent)		50.90%
Volatility rate, maximum (as a percent)		60.61%
Dividend yield (as a percent)		0.00%
Risk free interest rate, minimum (as a percent)		0.12%
Risk free interest rate, maximum (as a percent)		1.21%
Minimum
Fair value assumptions
Expected forfeiture rate (as a percent)		19.00%
Maximum
Fair value assumptions
Expected forfeiture rate (as a percent)		22.80%

Stockholders_Equity_Details_5

Stockholders' Equity (Details 5) (Restricted shares, USD $)	3 Months Ended	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014
Restricted shares
Restricted share activity
Unvested restricted shares at the beginning of the period	1,897,827	1,543,869
Restricted shares granted	111,300	1,040,748
Restricted shares vested	-275,562	-436,204
Restricted shares cancelled	-61,171	-250,586
Unvested restricted shares at the end of the period	1,672,394	1,897,827
Weighted-Average Fair Value
Unvested restricted shares at the beginning of the period (in dollars per share)	$24.96	$28.89
Restricted shares granted (in dollars per share)	$12.57	$18.78
Restricted shares vested (in dollars per share)	$26.39	$24.72
Restricted shares cancelled (in dollars per share)	$25.23	$23.87
Unvested restricted shares at the end of the period (in dollars per share)	$23.89	$24.96
Unvested awards
Intrinsic value of unvested restricted shares	$13,663,000
Weighted average remaining contractual life of unvested restricted shares	8 years 6 months 7 days
Stock price (in dollars per share)	$8.17

Fair_Value_Measurement_Details

Fair Value Measurement (Details) (USD $)	0 Months Ended	3 Months Ended
	Nov. 01, 2012	Jun. 30, 2014	Dec. 31, 2014	Sep. 30, 2014
NESA
Fair value measurement
Percentage EBITDA growth capped	20.00%
Possible total earn out payment, low end of range	$0
Possible total earn out payment, high end of range	37,700,000
Additional liability accrued (liability reversed)		18,600,000
Estimated fair value of earn-out	18,000,000	0	0
Level 3 | NESA
Fair value measurement
Liabilities, fair value			0	0
Recurring basis | Level 1
Fair value measurement
Assets, fair value			0	0
Liabilities, fair value			0	0
Recurring basis | Level 2
Fair value measurement
Assets, fair value			0	0
Liabilities, fair value			0	0
Recurring basis | Level 3
Fair value measurement
Assets, fair value			0	0
Liabilities, fair value			$0	$0
Minimum | NESA
Fair value measurement
Period after the closing date of acquisition during which EBITDA earned is used to calculate the earn-out	P36M
Maximum | NESA
Fair value measurement
Period after the closing date of acquisition during which EBITDA earned is used to calculate the earn-out	P48M

Fair_Value_Measurement_Details1

Fair Value Measurement (Details 2) (Contingent consideration, USD $)	12 Months Ended	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2014
Changes in liabilities measured at fair value for which the Company has used Level 3 inputs to determine fair value
Balance at the beginning of the period	$18,390
Change in fair value of contingent consideration	($18,390)
Level 3 | Income approach | Minimum
Changes in liabilities measured at fair value for which the Company has used Level 3 inputs to determine fair value
Discount rate (as a percent)		2.00%
Level 3 | Income approach | Maximum
Changes in liabilities measured at fair value for which the Company has used Level 3 inputs to determine fair value
Discount rate (as a percent)		6.00%

Defined_Benefit_Pension_Plan_D

Defined Benefit Pension Plan (Details) (Defined benefit pension plan., USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Defined benefit pension plan.
Net periodic benefit cost recognized
Interest cost	$248	$280
Expected return on plan assets	-299	-322
Total net periodic benefit cost	($51)	($42)

Business_Realignment_Expense_D

Business Realignment Expense (Detail) (USD $)	3 Months Ended	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014
Business realignment expenses rollforward
Employee severance and benefit costs		$1,800,000
Liability Balance, beginning	1,780,000
Business Realignment Expenses	-9,000
Cash Payments	-532,000
Liability Balance, ending	1,239,000	1,780,000
Employee severance and benefit costs
Business realignment expenses rollforward
Liability Balance, beginning	1,780,000
Business Realignment Expenses	-9,000
Cash Payments	-532,000
Liability Balance, ending	$1,239,000

Termination_of_Wal_Mart_Agreem

Termination of Wal Mart Agreement (Details) (USD $)	Dec. 31, 2014	Sep. 30, 2014
In Thousands, unless otherwise specified
Accounts receivable	$27,719	$21,688
Wal-Mart
Accounts receivable	$7,500