Dynasil Corporation of America (DYSL) 10-Q 12 Aug 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jun. 30, 2015	Aug. 06, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Registrant Name	DYNASIL CORP OF AMERICA
Entity Central Index Key	30,831
Current Fiscal Year End Date	--09-30
Entity Filer Category	Smaller Reporting Company
Trading Symbol	DYSL
Entity Common Stock, Shares Outstanding		16,536,513

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2015	Sep. 30, 2014
Current Assets
Cash and cash equivalents	$ 3,478,000	$ 3,842,000
Accounts receivable, net of allowances of $153,000 and $299,000 at June 30, 2015 and September 30, 2014, respectively	3,362,000	3,240,000
Costs in excess of billings and unbilled receivables	1,271,000	1,235,000
Inventories, net of reserves	3,419,000	2,954,000
Prepaid expenses and other current assets	1,185,000	861,000
Total current assets	12,715,000	12,132,000
Property, Plant and Equipment, net	6,458,000	6,518,000
Other Assets
Intangibles, net	1,252,000	1,383,000
Goodwill	6,191,000	6,247,000
Deferred financing costs, net	29,000	39,000
Security and other deposits	238,000	58,000
Total other assets	7,710,000	7,727,000
Total Assets	26,883,000	26,377,000
Current Liabilities
Current portion of long-term debt	3,664,000	2,329,000
Capital lease obligations, current	103,000	134,000
Convertible notes	1,784,000	1,433,000
Accounts payable	1,493,000	1,602,000
Deferred revenue	130,000	103,000
Accrued expenses and other liabilities	2,855,000	2,503,000
Total current liabilities	10,029,000	8,104,000
Long-term Liabilities
Long-term debt, net of current portion	2,045,000	3,282,000
Capital lease obligations, net of current portion	52,000	95,000
Pension liability	0	318,000
Deferred tax liability	245,000	264,000
Other long-term liabilities	47,000	0
Total long-term liabilities	2,389,000	3,959,000
Stockholders' Equity
Common Stock, $0.0005 par value, 40,000,000 shares authorized, 17,313,366 and 17,140,182 shares issued, 16,503,206 and and 16,330,022 shares outstanding at June 30, 2015 and September 30, 2014, respectively.	9,000	9,000
Additional paid in capital	19,483,000	19,195,000
Accumulated other comprehensive income	278,000	98,000
Accumulated deficit	(4,175,000)	(3,933,000)
Less 810,160 shares of treasury stock - at cost	(986,000)	(986,000)
Total Dynasil stockholders' equity	14,609,000	14,383,000
Noncontrolling interest	(144,000)	(69,000)
Total stockholders' equity	14,465,000	14,314,000
Total Liabilities and Stockholders' Equity	$ 26,883,000	$ 26,377,000

CONSOLIDATED BALANCE SHEETS _Pa

CONSOLIDATED BALANCE SHEETS [Parenthetical] - USD ($)	Jun. 30, 2015	Sep. 30, 2014
Allowance for doubtful accounts (in dollars)	$ 153,000	$ 299,000
Common stock, par value (in dollars per share)	$ 0.0005	$ 0.0005
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	17,313,366	17,140,182
Common stock, shares outstanding	16,503,206	16,330,022
Treasury stock, shares	810,160	810,160

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net revenue	$ 10,239,000	$ 10,641,000	$ 29,745,000	$ 31,758,000
Cost of revenue	6,021,000	6,771,000	18,260,000	19,161,000
Gross profit	4,218,000	3,870,000	11,485,000	12,597,000
Operating expenses:
Sales and marketing	312,000	337,000	986,000	1,047,000
Research and development	382,000	301,000	1,172,000	1,025,000
General and administrative	3,041,000	3,106,000	9,443,000	9,505,000
Gain on sale of assets	8,000	(30,000)	(178,000)	(1,217,000)
Total operating expenses	3,743,000	3,714,000	11,423,000	10,360,000
Income from operations	475,000	156,000	62,000	2,237,000
Interest expense, net	124,000	146,000	372,000	567,000
Income (loss) before taxes	351,000	10,000	(310,000)	1,670,000
Income tax provision (credit)	(14,000)	(48,000)	7,000	(87,000)
Net income (loss)	365,000	58,000	(317,000)	1,757,000
Less: Net loss attributable to noncontrolling interest	(23,000)	(16,000)	(75,000)	(47,000)
Net income (loss) attributable to common stockholders	388,000	74,000	(242,000)	1,804,000
Net income (loss)	365,000	58,000	(317,000)	1,757,000
Other comprehensive income (loss):
Decrease in pension liability	0	0	318,000	0
Foreign currency translation	251,000	142,000	(138,000)	215,000
Total comprehensive income (loss)	$ 616,000	$ 200,000	$ (137,000)	$ 1,972,000
Basic net income (loss) per common share (in dollars per share)	$ 0.02	$ 0	$ (0.01)	$ 0.12
Diluted net income (loss) per common share (in dollars per share)	$ 0.02	$ 0	$ (0.01)	$ 0.12
Weighted average shares outstanding
Basic (in shares)	16,439,637	15,280,607	16,368,313	15,134,377
Diluted (in shares)	16,447,088	15,299,422	16,368,313	15,145,639

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - 9 months ended Jun. 30, 2015 - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Noncontrolling Interest [Member]
Balance at Sep. 30, 2014	$ 14,314,000	$ 9,000	$ 19,195,000	$ 98,000	$ (3,933,000)	$ (986,000)	$ (69,000)
Balance (in shares) at Sep. 30, 2014		17,140,182				810,160
Issuance of shares of common stock under employee stock purchase plan	9,000	$ 0	9,000	0	0	$ 0	0
Issuance of shares of common stock under employee stock purchase plan (in shares)		7,633				0
Stock-based compensation costs	296,000	$ 0	296,000	0	0	$ 0	0
Stock-based compensation costs (in shares)		175,193				0
Adjustment for escrow settlement	(17,000)	$ 0	(17,000)	0	0	$ 0	0
Adjustment for escrow settlement (in shares)		(9,642)				0
Settlement of pension obligation, net of tax	318,000	$ 0	0	318,000	0	$ 0	0
Foreign currency translation adjustment	(138,000)	0	0	(138,000)	0	0	0
Net loss	(317,000)	0	0	0	(242,000)	0	(75,000)
Balance at Jun. 30, 2015	$ 14,465,000	$ 9,000	$ 19,483,000	$ 278,000	$ (4,175,000)	$ (986,000)	$ (144,000)
Balance (in shares) at Jun. 30, 2015		17,313,366				810,160

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ (317,000)	$ 1,757,000
Adjustments to reconcile net income (loss) to net cash:
Stock compensation expense	298,000	403,000
Foreign exchange loss (gain)	(14,000)	30,000
Gain on sale of assets	(178,000)	(1,217,000)
Depreciation and amortization	898,000	809,000
Pension expense	318,000	0
Other	110,000	80,000
Other changes in assets and libilities:
Accounts receivable, net	(122,000)	(70,000)
Inventories	(530,000)	(492,000)
Costs in excess of billings and unbilled receivables	(36,000)	69,000
Prepaid expenses and other assets	(489,000)	(111,000)
Accounts payable	(116,000)	185,000
Accrued expenses and other liabilities	14,000	65,000
Deferred revenue	27,000	(382,000)
Net cash from operating activities	(137,000)	1,126,000
Cash flows from investing activities:
Acquisitions	0	(500,000)
Proceeds from sale of assets	244,000	4,357,000
Purchases of property, plant and equipment	(747,000)	(879,000)
Net cash from investing activities	(503,000)	2,978,000
Cash flows from financing activities:
Proceeds from issuance of common stock	9,000	11,000
Net proceeds from issuance of convertible notes	298,000	810,000
Principal payments on capital leases	(110,000)	(96,000)
Proceeds from short and long-term debt	300,000	2,707,000
Payments on long-term debt	(202,000)	(6,841,000)
Net cash from financing activities	295,000	(3,409,000)
Effect of exchange rates on cash and cash equivalents	(19,000)	(47,000)
Net change in cash and cash equivalents	(364,000)	648,000
Cash and cash equivalents, beginning	3,842,000	2,437,000
Cash and cash equivalents, ending	3,478,000	3,085,000
Non cash activities:
Assets acquired	0	1,739,000
Less: common shares issued in acquisition as consideration	0	1,239,000
Cash paid in acquisition	0	500,000
Assets purchased under capital leases	73,000	0
Tax payments (refunds)	$ (8,000)	$ 0

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jun. 30, 2015
Disclosure Text Block [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	Note 1 - Basis of Presentation The accompanying consolidated balance sheet as of June 30, 2015, the consolidated statements of operations and comprehensive income (loss) for the three and nine months ended June 30, 2015 and 2014, changes in stockholders’ equity for the nine months ended June 30, 2015 and cash flows for the nine months ended June 30, 2015 and 2014 of Dynasil Corporation of America and subsidiaries (the “Company”), and the related information contained in these notes have been prepared by management and are unaudited. In the opinion of management, all adjustments (which include normal recurring and nonrecurring items) necessary to present fairly the financial position, results of operations and cash flows in conformity with generally accepted accounting principles for the periods presented have been made. Interim operating results are not necessarily indicative of operating results for a full year. The preparation of our unaudited consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the unaudited consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Certain information and note disclosures normally included in the Company's annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. These consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's September 30, 2014 Annual Report on Form 10-K previously filed by the Company with the Securities and Exchange Commission. The Company considers events or transactions that have occurred after the unaudited consolidated balance sheet date of June 30, 2015, but prior to the filing of the unaudited consolidated financial statements with the SEC on this Form 10-Q, to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure, as applicable. Subsequent events have been evaluated through the date of the filing of this Quarterly Report on Form 10-Q with the SEC.

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Note 2 – Acquisitions and Divestitures On June 26, 2014, the Company and its wholly owned subsidiary, Evaporated Metal Films Corp. (“EMF”) acquired substantially all the assets of DichroTec Thin Films, LLC (“DichroTec”), a manufacturer of optical thin film coatings. The total purchase price paid of $ 1.7 0.5 690,000 1.9 The Company sold its Lead Paint Detector and Gamma Medical Probe businesses in the first quarter of fiscal 2014. These businesses constituted substantially all the Company’s Instruments segment but did not qualify to be reported as discontinued operations. The businesses were sold for an aggregate of approximately $ 4.7 3.9 In the three months ended December 31, 2014, the Company recorded a gain of $ 0.2

Xcede Technologies, Inc. Joint

Xcede Technologies, Inc. Joint Venture	9 Months Ended
	Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments and Joint Ventures Disclosure [Text Block]	Note 3 – Xcede Technologies, Inc. Joint Venture In October, 2013, the Company formed Xcede Technologies, Inc. (“Xcede”), a joint venture with Mayo Clinic, in order to spin out and separately fund the development of its tissue sealant technology, which formerly comprised the majority of its biomedical segment. Xcede has raised approximately $1.7 million in external funding in the form of Convertible Notes (the “Notes”) from outside investors and to certain officers and directors of the Company. The Notes accrue interest at 5% and, as amended, are due after June 30, 2016, upon the demand of the holders of a majority of the aggregate outstanding principal amount of the Notes. Upon the closing of a capital stock financing raising at least $ 3.0 20 5 Xcede’s common stock is 90 21,000 The Company expects Xcede to require significant additional funding prior to commencing human trials.

Inventories

Inventories	9 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	Note 4 - Inventories June 30, September 30, 2015 2014 Raw Materials $ 2,033,000 $ 1,805,000 Work-in-Process 983,000 858,000 Finished Goods 403,000 291,000 $ 3,419,000 $ 2,954,000

Intangible Assets

Intangible Assets	9 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets Disclosure [Text Block]	Note 5 – Intangible Assets Useful Gross Accumulated June 30, 2015 Life (years) Amount Amortization Net Acquired Customer Base 5 to 15 $ 851,000 $ 458,000 $ 393,000 Know How 15 512,000 239,000 273,000 Trade Names Indefinite 329,000 - 329,000 Patents 20 182,000 - 182,000 Biomedical Technologies 5 260,000 185,000 75,000 $ 2,134,000 $ 882,000 $ 1,252,000 Useful Gross Accumulated September 30, 2014 Life (years) Amount Amortization Net Acquired Customer Base 5 to 15 $ 877,000 $ 409,000 $ 468,000 Know How 15 512,000 213,000 299,000 Trade Names Indefinite 339,000 - 339,000 Patents 20 159,000 - 159,000 Biomedical Technologies 5 260,000 142,000 118,000 $ 2,147,000 $ 764,000 $ 1,383,000 Amortization expense for the three months ended June 30, 2015 and 2014 was $ 43,000 44,000 128,000 133,000 2015 (3 months) 2016 2017 2018 2019 Thereafter Total Acquired Customer Base $ 20,000 $ 80,000 $ 80,000 $ 80,000 $ 80,000 $ 53,000 $ 393,000 Know How 9,000 34,000 34,000 34,000 34,000 128,000 273,000 Patents 2,000 9,000 9,000 9,000 9,000 144,000 182,000 Biomedical Technologies 15,000 60,000 - - - - 75,000 $ 46,000 $ 183,000 $ 123,000 $ 123,000 $ 123,000 $ 325,000 $ 923,000

Goodwill

Goodwill	9 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill Disclosure [Text Block]	Note 6 – Goodwill Goodwill is subject to an annual impairment test. The Company considers many factors which may indicate the requirement to perform additional, interim impairment tests. These include: · A significant adverse long term outlook for any of its industries; · An adverse finding or rejection from a regulatory body involved in new product regulatory approvals; · Failure of an anticipated commercialization of a product or product line; · Unanticipated competition or the introduction of a disruptive technology; · The testing for recoverability under the Impairment or Disposal of Long-Lived Assets Subsections of Subtopic 360-10 of a significant asset group within a reporting unit; · A loss of key personnel; and · An expectation that a reporting unit carrying goodwill, or a significant portion of a reporting unit, will be sold or otherwise disposed of. There were no changes, aside from foreign exchange rate fluctuations, in the carrying value of goodwill during the three and nine months ended June 30, 2015.

Earnings (Loss) Per Common Shar

Earnings (Loss) Per Common Share	9 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Note 7 – Earnings (Loss) Per Common Share Basic earnings (loss) per common share is computed by dividing the net income applicable or loss attributable to common shares by the weighted average number of common shares. Diluted earnings per common share adjusts basic earnings per share for the effects of common stock options, common stock warrants, convertible preferred stock and other potential dilutive common shares outstanding during the periods. For purposes of computing diluted earnings per share for the three and nine months ended June 30, 2015 and 2014, no common stock options were included in the calculation of dilutive shares as all of the 58,212 630,532 June 30, 2015 June 30, 2014 Weighted average shares outstanding Basic 16,439,637 15,280,607 Effect of dilutive securities Stock Options - - Restricted Stock 7,451 18,815 Dilutive Average Shares Outstanding 16,447,088 15,299,422 The computation of the weighted shares outstanding for the nine months ended June 30, 2015 and 2014 is as follows: June 30, 2015 June 30, 2014 Weighted average shares outstanding Basic 16,368,313 15,134,377 Effect of dilutive securities Stock Options - - Restricted Stock - 11,262 Dilutive Average Shares Outstanding 16,368,313 15,145,639

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	Jun. 30, 2015
Stockholders Equity Note [Abstract]
Stockholders Equity Note Disclosure [Text Block]	Note 8 - Stock Based Compensation The fair value of the stock options granted is estimated at the date of grant using the Black-Scholes option pricing model. Nine Months Ended June 30, 2015 Expected term in years 3 years Risk-free interest rate 0.77 % Expected volatility 89.46 % Expected dividend yield 0.00 % The expected volatility was determined with reference to the historical volatility of the Company's stock. The Company uses historical data to estimate option exercise and employee termination within the valuation model. The expected term of options granted represents the period of time that the options granted are expected to be outstanding. The risk-free interest rate for periods within the contractual life of the option is based on the U.S. Treasury rate in effect at the time of grant. The dividend yield is expected to be 0.00 During the three months ended June 30, 2015, no stock options were granted. During the nine months ended June 30, 2015, 36,232 1.82 25,000 Weighted Average Weighted Average Options Exercise Price per Remain Contractual Outstanding Share Term (in Years) Balance at September 30, 2014 430,532 $ 3.33 0.31 Granted 36,232 1.82 Exercised - - Cancelled (408,552) 3.99 Balance at June 30, 2015 58,212 $ 2.28 2.22 Outstanding and exercisable at June 30, 2015 58,212 $ 2.28 2.22 Restricted Stock Activity for the Nine Weighted-Average Months ended June 30, 2015 Shares Grant-Date Fair Value Nonvested at September 30, 2014 54,000 $ 1.04 Granted - - Vested (27,000) $ 1.04 Cancelled - - Nonvested at June 30, 2015 27,000 $ 1.04 Stock Compensation Expense for the three and nine months ended June 30, 2015 and 2014 is as follows: Three Months Ended Three Months Ended Stock Compensation Expense June 30, 2015 June 30, 2014 Stock Grants $ 106,000 $ 112,000 Restricted Stock Grants 7,000 51,000 Option Grants 6,000 - Employee Stock Purchase Plan 1,000 1,000 Total $ 120,000 $ 164,000 Nine Months Ended Nine Months Ended Stock Compensation Expense June 30, 2015 June 30, 2014 Stock Grants $ 243,000 $ 213,000 Restricted Stock Grants 21,000 188,000 Option Grants 10,000 - Employee Stock Purchase Plan 3,000 2,000 Total $ 277,000 $ 403,000 At June 30, 2015 there was approximately $ 46,000 In addition to the above stock compensation expense, the Company’s 90%-owned Xcede subsidiary issued options for its common stock to certain employees and directors that resulted in approximately $ 7,000 21,000 98,000

Segment, Customer and Geographi

Segment, Customer and Geographical Reporting	9 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note 9 – Segment, Customer and Geographical Reporting Segment Financial Information Dynasil’s business is comprised of four segments: contract research (“Contract Research”), optics (“Optics”), instruments (“Instruments”) and biomedical (“Biomedical”). Substantially all the operating assets of the Instruments segment were sold in the three months ended December 31, 2013. Within these segments, there is a segregation of reportable units based upon the organizational structure used to evaluate performance and make decisions on resource allocation, as well as availability and materiality of separate financial results consistent with that structure. The Contract Research segment is one of the largest small business participants in U.S. government-funded research. The Optics segment manufactures optical materials, components and coatings. The Biomedical segment, through Xcede Technologies, Inc., a majority owned, joint venture, is focused on developing a tissue sealant technology for a wide spectrum of applications though no assurance can be given that this technology will become successfully commercialized. The businesses comprising substantially all the Instruments segment were sold in the first quarter of fiscal 2014 as discussed in Note 2. Results of Operations for the Three Months Ended June 30, 2015 Contract Research Optics Instruments Biomedical Total Revenue $ 4,626,000 $ 5,613,000 $ - $ - $ 10,239,000 Gross Profit 2,027,000 2,191,000 - - 4,218,000 GM % 43.8 % 39.0 % - - 41.2 % SG&A 1,934,000 1,565,000 - 236,000 3,735,000 Loss on sale of assets - (8,000) - - (8,000) Operating Income (Loss) 93,000 618,000 - (236,000) 475,000 Depreciation and Amortization 74,000 223,000 - 15,000 312,000 Capital expenditures - 270,000 - 21,000 291,000 Intangibles, Net 273,000 722,000 - 257,000 1,252,000 Goodwill 4,939,000 1,252,000 - - 6,191,000 Total Assets $ 9,462,000 $ 16,615,000 $ 50,000 $ 756,000 $ 26,883,000 Results of Operations for the Three Months Ended June 30, 2014 Contract Optics Instruments Biomedical Total Revenue $ 5,461,000 $ 5,172,000 $ - $ 8,000 $ 10,641,000 Gross Profit 2,121,000 1,741,000 - 8,000 3,870,000 GM % 38.8 % 33.7 % - 100.0 % 36.4 % SG&A 2,057,000 1,516,000 (10,000) 181,000 3,744,000 Gain on sale of assets - - 30,000 - 30,000 Operating Income (Loss) 64,000 225,000 40,000 (173,000) 156,000 Depreciation and Amortization 70,000 190,000 - 15,000 275,000 Capital expenditures - 1,937,000 - - 1,937,000 Intangibles, Net 307,000 893,000 - 133,000 1,333,000 Goodwill 4,939,000 1,394,000 - - 6,333,000 Total Assets $ 9,451,000 $ 16,053,000 $ 335,000 $ 632,000 $ 26,471,000 The Company’s segment information for the nine months ended June 30, 2015 and 2014 is summarized below: Results of Operations for the Nine Months Ended June 30, 2015 Contract Research Optics Instruments Biomedical Total Revenue $ 13,964,000 $ 15,781,000 $ - $ - $ 29,745,000 Gross Profit 6,077,000 5,408,000 - - 11,485,000 GM % 43.5 % 34.3 % - - 38.6 % SG&A 5,712,000 5,150,000 - 739,000 11,601,000 Gain on sale of assets - 178,000 - - 178,000 Operating Income (Loss) 365,000 436,000 - (739,000) 62,000 Depreciation and Amortization 222,000 631,000 - 45,000 898,000 Capital expenditures 4,000 666,000 - 77,000 747,000 Intangibles, Net 273,000 722,000 - 257,000 1,252,000 Goodwill 4,939,000 1,252,000 - - 6,191,000 Total Assets $ 9,462,000 $ 16,615,000 $ 50,000 $ 756,000 $ 26,883,000 Results of Operations for the Nine Months Ended June 30, 2014 Contract Research Optics Instruments Biomedical Total Revenue $ 16,915,000 $ 14,059,000 $ 773,000 $ 11,000 $ 31,758,000 Gross Profit 7,093,000 5,175,000 318,000 11,000 12,597,000 GM % 41.9 % 36.8 % 41.1 % 100.0 % 39.7 % SG&A 6,439,000 4,030,000 529,000 579,000 11,577,000 Gain on sale of assets - - 1,217,000 - 1,217,000 Operating Income (Loss) 654,000 1,145,000 1,006,000 (568,000) 2,237,000 Depreciation and Amortization 209,000 551,000 2,000 47,000 809,000 Capital expenditures 12,000 2,606,000 - - 2,618,000 Intangibles, Net 307,000 893,000 - 133,000 1,333,000 Goodwill 4,939,000 1,394,000 - - 6,333,000 Total Assets $ 9,451,000 $ 16,053,000 $ 335,000 $ 632,000 $ 26,471,000 Customer Financial Information For the three and nine months ended June 30, 2015, four customers of the Contract Research segment, all various agencies of the U.S. Government, each represented more than 10 10 64 68 68 67 For the three months ended June 30, 2015, two customers in the Optics segment each represented more than 10 10 18 10 Geographic Financial Information Three Months Ended Three Months Ended June 30, 2015 June 30, 2014 Geographic Location Revenue % of Total Revenue % of Total United States $ 8,228,000 80 % $ 8,255,000 78 % Europe 1,140,000 11 % 689,000 6 % Other 871,000 9 % 1,697,000 16 % $ 10,239,000 100 % $ 10,641,000 100 % Revenue by geographic location in total and as a percentage of total revenue, for the nine months ended June 30, 2015 and 2014 are as follows: Nine Months Ended Nine Months Ended June 30, 2015 June 30, 2014 Geographic Location Revenue % of Total Revenue % of Total United States $ 23,892,000 80 % $ 25,784,000 81 % Europe 3,147,000 11 % 2,363,000 8 % Other 2,706,000 9 % 3,611,000 11 % $ 29,745,000 100 % $ 31,758,000 100 %

Income Taxes

Income Taxes	9 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note 10 - Income Taxes Dynasil Corporation of America and its wholly-owned U.S. subsidiaries file a consolidated federal income tax return and various state returns. The Company’s U.K. subsidiary files tax returns in the U.K. The Company uses the asset and liability approach to account for income taxes. Under this approach, deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes and net operating loss and tax credit carry forwards. The amount of deferred taxes on these temporary differences is determined using the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, as applicable, based on tax rates, and tax laws, in the respective tax jurisdiction then in effect. In assessing the ability to realize the net deferred tax assets, management considers various factors including taxable income in carryback years, future reversals of existing taxable temporary differences, tax planning strategies and projections of future taxable income, to determine whether it is more likely than not that some portion or all of the net deferred tax assets will not be realized. Based upon the Company’s recent losses and uncertainty of future profits, the Company has determined that the uncertainty regarding the realization of these assets is sufficient to warrant the need for a full valuation allowance against its U.S. net deferred tax assets. The Company applies the authoritative provisions related to accounting for uncertainty in income taxes. As required by these provisions, the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more-likely-than-not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being reached upon ultimate settlement with the relevant tax authority. As of June 30, 2015 and September 30, 2014, the Company has no unrecorded liabilities for uncertain tax positions. Interest and penalty charges, if any, related to uncertain tax positions would be classified as income tax expense in the accompanying consolidated statement of operations. As of June 30, 2015 and September 30, 2014, the Company had no accrued interest or penalties related to uncertain tax positions. The Company currently has no federal or state tax examinations in progress. The effective tax rates were ( 4.0 2.4 480.0 5.2 34 The Company files its tax returns as prescribed by the tax laws of the jurisdictions in which it operates. The Company’s tax filings for federal and state jurisdictions for the tax years beginning with 2010 are still subject to examination.

Settlement of Pension Liability

Settlement of Pension Liability	9 Months Ended
	Jun. 30, 2015
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Schedule Of Defined Benefit Plans Disclosure [Text Block]	Note 11 – Settlement of Pension Liability On December 1, 2014, the Company terminated and settled its pension liability with each of the remaining participants in the EMF Defined Benefit Plan (the “Plan”). The Plan had been frozen since 2006. The total benefit payments made upon termination were $ 688,000 332,000

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories, net of reserves, consists of the following: June 30, September 30, 2015 2014 Raw Materials $ 2,033,000 $ 1,805,000 Work-in-Process 983,000 858,000 Finished Goods 403,000 291,000 $ 3,419,000 $ 2,954,000

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Intangible assets at June 30, 2015 and September 30, 2014 consist of the following: Useful Gross Accumulated June 30, 2015 Life (years) Amount Amortization Net Acquired Customer Base 5 to 15 $ 851,000 $ 458,000 $ 393,000 Know How 15 512,000 239,000 273,000 Trade Names Indefinite 329,000 - 329,000 Patents 20 182,000 - 182,000 Biomedical Technologies 5 260,000 185,000 75,000 $ 2,134,000 $ 882,000 $ 1,252,000 Useful Gross Accumulated September 30, 2014 Life (years) Amount Amortization Net Acquired Customer Base 5 to 15 $ 877,000 $ 409,000 $ 468,000 Know How 15 512,000 213,000 299,000 Trade Names Indefinite 339,000 - 339,000 Patents 20 159,000 - 159,000 Biomedical Technologies 5 260,000 142,000 118,000 $ 2,147,000 $ 764,000 $ 1,383,000
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Estimated amortization expense for each of the next five fiscal years and thereafter is as follows: 2015 (3 months) 2016 2017 2018 2019 Thereafter Total Acquired Customer Base $ 20,000 $ 80,000 $ 80,000 $ 80,000 $ 80,000 $ 53,000 $ 393,000 Know How 9,000 34,000 34,000 34,000 34,000 128,000 273,000 Patents 2,000 9,000 9,000 9,000 9,000 144,000 182,000 Biomedical Technologies 15,000 60,000 - - - - 75,000 $ 46,000 $ 183,000 $ 123,000 $ 123,000 $ 123,000 $ 325,000 $ 923,000

Earnings (Loss) Per Common Sh20

Earnings (Loss) Per Common Share (Tables)	9 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The computation of the weighted shares outstanding for the three months ended June 30, 2015 and 2014 is as follows: June 30, 2015 June 30, 2014 Weighted average shares outstanding Basic 16,439,637 15,280,607 Effect of dilutive securities Stock Options - - Restricted Stock 7,451 18,815 Dilutive Average Shares Outstanding 16,447,088 15,299,422 The computation of the weighted shares outstanding for the nine months ended June 30, 2015 and 2014 is as follows: June 30, 2015 June 30, 2014 Weighted average shares outstanding Basic 16,368,313 15,134,377 Effect of dilutive securities Stock Options - - Restricted Stock - 11,262 Dilutive Average Shares Outstanding 16,368,313 15,145,639

Stock Based Compensation (Table

Stock Based Compensation (Tables)	9 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The weighted average assumptions for the stock option grant during the nine months ended June 30, 2015 used in the Black-Scholes option pricing model were as follows: Nine Months Ended June 30, 2015 Expected term in years 3 years Risk-free interest rate 0.77 % Expected volatility 89.46 % Expected dividend yield 0.00 %
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	A summary of stock option activity for the nine months ended June 30, 2015 is presented below: Weighted Average Weighted Average Options Exercise Price per Remain Contractual Outstanding Share Term (in Years) Balance at September 30, 2014 430,532 $ 3.33 0.31 Granted 36,232 1.82 Exercised - - Cancelled (408,552) 3.99 Balance at June 30, 2015 58,212 $ 2.28 2.22 Outstanding and exercisable at June 30, 2015 58,212 $ 2.28 2.22
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	A summary of restricted stock activity for the nine months ended June 30, 2015 is presented below: Restricted Stock Activity for the Nine Weighted-Average Months ended June 30, 2015 Shares Grant-Date Fair Value Nonvested at September 30, 2014 54,000 $ 1.04 Granted - - Vested (27,000) $ 1.04 Cancelled - - Nonvested at June 30, 2015 27,000 $ 1.04
Schedule Of Stock Compensation Expense [Table Text Block]	Three Months Ended Three Months Ended Stock Compensation Expense June 30, 2015 June 30, 2014 Stock Grants $ 106,000 $ 112,000 Restricted Stock Grants 7,000 51,000 Option Grants 6,000 - Employee Stock Purchase Plan 1,000 1,000 Total $ 120,000 $ 164,000 Nine Months Ended Nine Months Ended Stock Compensation Expense June 30, 2015 June 30, 2014 Stock Grants $ 243,000 $ 213,000 Restricted Stock Grants 21,000 188,000 Option Grants 10,000 - Employee Stock Purchase Plan 3,000 2,000 Total $ 277,000 $ 403,000

Segment, Customer and Geograp22

Segment, Customer and Geographical Reporting (Tables)	9 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The Company’s segment information for the three months ended June 30, 2015 and 2014 is summarized below: Results of Operations for the Three Months Ended June 30, 2015 Contract Research Optics Instruments Biomedical Total Revenue $ 4,626,000 $ 5,613,000 $ - $ - $ 10,239,000 Gross Profit 2,027,000 2,191,000 - - 4,218,000 GM % 43.8 % 39.0 % - - 41.2 % SG&A 1,934,000 1,565,000 - 236,000 3,735,000 Loss on sale of assets - (8,000) - - (8,000) Operating Income (Loss) 93,000 618,000 - (236,000) 475,000 Depreciation and Amortization 74,000 223,000 - 15,000 312,000 Capital expenditures - 270,000 - 21,000 291,000 Intangibles, Net 273,000 722,000 - 257,000 1,252,000 Goodwill 4,939,000 1,252,000 - - 6,191,000 Total Assets $ 9,462,000 $ 16,615,000 $ 50,000 $ 756,000 $ 26,883,000 Results of Operations for the Three Months Ended June 30, 2014 Contract Optics Instruments Biomedical Total Revenue $ 5,461,000 $ 5,172,000 $ - $ 8,000 $ 10,641,000 Gross Profit 2,121,000 1,741,000 - 8,000 3,870,000 GM % 38.8 % 33.7 % - 100.0 % 36.4 % SG&A 2,057,000 1,516,000 (10,000) 181,000 3,744,000 Gain on sale of assets - - 30,000 - 30,000 Operating Income (Loss) 64,000 225,000 40,000 (173,000) 156,000 Depreciation and Amortization 70,000 190,000 - 15,000 275,000 Capital expenditures - 1,937,000 - - 1,937,000 Intangibles, Net 307,000 893,000 - 133,000 1,333,000 Goodwill 4,939,000 1,394,000 - - 6,333,000 Total Assets $ 9,451,000 $ 16,053,000 $ 335,000 $ 632,000 $ 26,471,000 The Company’s segment information for the nine months ended June 30, 2015 and 2014 is summarized below: Results of Operations for the Nine Months Ended June 30, 2015 Contract Research Optics Instruments Biomedical Total Revenue $ 13,964,000 $ 15,781,000 $ - $ - $ 29,745,000 Gross Profit 6,077,000 5,408,000 - - 11,485,000 GM % 43.5 % 34.3 % - - 38.6 % SG&A 5,712,000 5,150,000 - 739,000 11,601,000 Gain on sale of assets - 178,000 - - 178,000 Operating Income (Loss) 365,000 436,000 - (739,000) 62,000 Depreciation and Amortization 222,000 631,000 - 45,000 898,000 Capital expenditures 4,000 666,000 - 77,000 747,000 Intangibles, Net 273,000 722,000 - 257,000 1,252,000 Goodwill 4,939,000 1,252,000 - - 6,191,000 Total Assets $ 9,462,000 $ 16,615,000 $ 50,000 $ 756,000 $ 26,883,000 Results of Operations for the Nine Months Ended June 30, 2014 Contract Research Optics Instruments Biomedical Total Revenue $ 16,915,000 $ 14,059,000 $ 773,000 $ 11,000 $ 31,758,000 Gross Profit 7,093,000 5,175,000 318,000 11,000 12,597,000 GM % 41.9 % 36.8 % 41.1 % 100.0 % 39.7 % SG&A 6,439,000 4,030,000 529,000 579,000 11,577,000 Gain on sale of assets - - 1,217,000 - 1,217,000 Operating Income (Loss) 654,000 1,145,000 1,006,000 (568,000) 2,237,000 Depreciation and Amortization 209,000 551,000 2,000 47,000 809,000 Capital expenditures 12,000 2,606,000 - - 2,618,000 Intangibles, Net 307,000 893,000 - 133,000 1,333,000 Goodwill 4,939,000 1,394,000 - - 6,333,000 Total Assets $ 9,451,000 $ 16,053,000 $ 335,000 $ 632,000 $ 26,471,000
Schedule Of Segment Revenue By Geographical Location [Table Text Block]	Revenue by geographic location in total and as a percentage of total revenue, for the three months ended June 30, 2015 and 2014 are as follows: Three Months Ended Three Months Ended June 30, 2015 June 30, 2014 Geographic Location Revenue % of Total Revenue % of Total United States $ 8,228,000 80 % $ 8,255,000 78 % Europe 1,140,000 11 % 689,000 6 % Other 871,000 9 % 1,697,000 16 % $ 10,239,000 100 % $ 10,641,000 100 % Revenue by geographic location in total and as a percentage of total revenue, for the nine months ended June 30, 2015 and 2014 are as follows: Nine Months Ended Nine Months Ended June 30, 2015 June 30, 2014 Geographic Location Revenue % of Total Revenue % of Total United States $ 23,892,000 80 % $ 25,784,000 81 % Europe 3,147,000 11 % 2,363,000 8 % Other 2,706,000 9 % 3,611,000 11 % $ 29,745,000 100 % $ 31,758,000 100 %

Acquisitions and Divestitures (

Acquisitions and Divestitures (Details Textual) - USD ($)	1 Months Ended		3 Months Ended			9 Months Ended		12 Months Ended
	Dec. 31, 2014	Jun. 26, 2014	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross						$ 0	$ 500,000
Revenue, Net, Total			$ 10,239,000		$ 10,641,000	$ 29,745,000	31,758,000
Gain (Loss) on Disposition of Business				$ 200,000
Business Acquisition, Contingent Consideration, Gain Loss							500,000
Dichrotec [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross		$ 500,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares		690,000
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned		$ 1,700,000
Revenue, Net, Total								$ 1,900,000
Dilon [Member]
Business Acquisition [Line Items]
Proceeds from Sales of Business, Affiliate and Productive Assets	$ 4,700,000
Proceeds from (Repayments of) Debt							3,900,000
Gain (Loss) on Disposition of Business							$ 500,000

Xcede Technologies, Inc. Join24

Xcede Technologies, Inc. Joint Venture (Details Textual) - USD ($)	1 Months Ended	9 Months Ended
	Oct. 31, 2013	Jun. 30, 2015	Jun. 30, 2014
Schedule of Equity Method Investments [Line Items]
Proceeds from Convertible Debt	$ 1,700,000
Debt Instrument, Interest Rate, Stated Percentage		5.00%
Debt Instrument, Convertible, Beneficial Conversion Feature		$ 3,000,000
Capital Stock Financing Discount Percentage		20.00%
Common Stock Valuation		$ 5,000,000
Equity Method Investment, Ownership Percentage		90.00%
Share-based Compensation, Total		$ 298,000	$ 403,000
Xcede [Member]
Schedule of Equity Method Investments [Line Items]
Share-based Compensation, Total		$ 21,000

Inventories (Details)

Inventories (Details) - USD ($)	Jun. 30, 2015	Sep. 30, 2014
Inventory Current [Line Items]
Raw Materials	$ 2,033,000	$ 1,805,000
Work-in-Process	983,000	858,000
Finished Goods	403,000	291,000
Inventory, Net, Total	$ 3,419,000	$ 2,954,000

Intangible Assets (Details)

Intangible Assets (Details) - USD ($)	9 Months Ended	12 Months Ended
	Jun. 30, 2015	Sep. 30, 2014
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 2,134,000	$ 2,147,000
Accumulated Amortization	882,000	764,000
Net	1,252,000	1,383,000
Acquired Customer Base [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Amount	851,000	877,000
Accumulated Amortization	458,000	409,000
Net	$ 393,000	$ 468,000
Acquired Customer Base [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Life (years)	5 years	5 years
Acquired Customer Base [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Life (years)	15 years	15 years
Know How [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Life (years)	15 years	15 years
Gross Amount	$ 512,000	$ 512,000
Accumulated Amortization	239,000	213,000
Net	273,000	299,000
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Amount	329,000	339,000
Accumulated Amortization	0	0
Net	$ 329,000	$ 339,000
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Life (years)	20 years	20 years
Gross Amount	$ 182,000	$ 159,000
Accumulated Amortization	0	0
Net	$ 182,000	$ 159,000
Biomedical Technologies [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Life (years)	5 years	5 years
Gross Amount	$ 260,000	$ 260,000
Accumulated Amortization	185,000	142,000
Net	$ 75,000	$ 118,000

Intangible Assets (Details 1)

Intangible Assets (Details 1)	Jun. 30, 2015USD ($)
Finite-Lived Intangible Assets [Line Items]
2015 (3 months)	$ 46,000
2,016	183,000
2,017	123,000
2,018	123,000
2,019	123,000
Thereafter	325,000
Total	923,000
Acquired Customer Base [Member]
Finite-Lived Intangible Assets [Line Items]
2015 (3 months)	20,000
2,016	80,000
2,017	80,000
2,018	80,000
2,019	80,000
Thereafter	53,000
Total	393,000
Know How [Member]
Finite-Lived Intangible Assets [Line Items]
2015 (3 months)	9,000
2,016	34,000
2,017	34,000
2,018	34,000
2,019	34,000
Thereafter	128,000
Total	273,000
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
2015 (3 months)	2,000
2,016	9,000
2,017	9,000
2,018	9,000
2,019	9,000
Thereafter	144,000
Total	182,000
Biomedical Technologies [Member]
Finite-Lived Intangible Assets [Line Items]
2015 (3 months)	15,000
2,016	60,000
2,017	0
2,018	0
2,019	0
Thereafter	0
Total	$ 75,000

Intangible Assets (Details Text

Intangible Assets (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 43,000	$ 44,000	$ 128,000	$ 133,000

Earnings (Loss) Per Common Sh29

Earnings (Loss) Per Common Share (Details) - shares	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Weighted average shares outstanding
Basic	16,439,637	15,280,607	16,368,313	15,134,377
Effect of dilutive securities
Dilutive Average Shares Outstanding	16,447,088	15,299,422	16,368,313	15,145,639
Employee Stock Option [Member]
Effect of dilutive securities
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0	0	0	0
Restricted Stock [Member]
Effect of dilutive securities
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	7,451	18,815	0	11,262

Earnings (Loss) Per Common Sh30

Earnings (Loss) Per Common Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Loss Per Common Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	58,212	630,532	58,212	630,532

Stock Based Compensation (Detai

Stock Based Compensation (Details) - 9 months ended Jun. 30, 2015	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term in years	3 years
Risk-free interest rate	0.77%
Expected volatility	89.46%
Expected dividend yield	0.00%

Stock Based Compensation (Det32

Stock Based Compensation (Details 1) - $ / shares	9 Months Ended	12 Months Ended
	Jun. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance,Options Outstanding	430,532
Outstanding and exercisable,Options Outstanding	58,212
Granted,Options Outstanding	36,232
Exercised,Options Outstanding	0
Cancelled, Options Outstanding	(408,552)
Balance,Options Outstanding	58,212	430,532
Balance,Weighted Average Exercise Price per Share	$ 3.33
Outstanding and exercisable,Weighted Average Exercise Price per Share	2.28
Granted,Weighted Average Exercise Price per Share	1.82
Exercised,Weighted Average Exercise Price per Share	0
Cancelled,Weighted Average Exercise Price per Share	3.99
Balance,Weighted Average Exercise Price per Share	$ 2.28	$ 3.33
Balance,Weighted Average Remain Contractual Term (in Years)	2 years 2 months 19 days	3 months 22 days
Granted,Weighted Average Remain Contractual Term (in Years)
Outstanding and exercisable,Weighted Average Remain Contractual Term (in Years)	2 years 2 months 19 days

Stock Based Compensation (Det33

Stock Based Compensation (Details 2) - 9 months ended Jun. 30, 2015 - $ / shares	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Nonvested, Beginning Balance	54,000
Shares, Granted	0
Shares, Vested	(27,000)
Shares, Cancelled	0
Shares, Nonvested, Ending Balance	27,000
Weighted-Average Grant-Date Fair Value, Nonvested, Beginning Balance	$ 1.04
Weighted-Average Grant-Date Fair Value, Granted	0
Weighted-Average Grant-Date Fair Value, Vested	1.04
Weighted-Average Grant-Date Fair Value, Cancelled	0
Weighted-Average Grant-Date Fair Value, Nonvested, Ending Balance	$ 1.04

Stock Based Compensation (Det34

Stock Based Compensation (Details 3) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Compensation Expense	$ 120,000	$ 164,000	$ 277,000	$ 403,000
Stock Grants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Compensation Expense	106,000	112,000	243,000	213,000
Resticted Stock Grants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Compensation Expense	7,000	51,000	21,000	188,000
Option Grants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Compensation Expense	6,000	0	10,000	0
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Compensation Expense	$ 1,000	$ 1,000	$ 3,000	$ 2,000

Stock Based Compensation (Det35

Stock Based Compensation (Details Textual) - Equity Award [Domain] - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Class of Stock [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 46,000		$ 46,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate			0.00%
Allocated Share-based Compensation Expense	$ 120,000	$ 164,000	$ 277,000	$ 403,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			36,232
Share-based Compensation, Total			$ 298,000	$ 403,000
Equity Method Investment, Ownership Percentage	90.00%		90.00%
Xcede subsidiary [Member]
Class of Stock [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 98,000		$ 98,000
Share-based Compensation, Total	$ 7,000		$ 21,000
Equity Method Investment, Ownership Percentage	90.00%		90.00%
Director [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Intrinsic Value, Amount Per Share	$ 1.82
Allocated Share-based Compensation Expense	$ 25,000

Segment, Customer and Geograp36

Segment, Customer and Geographical Reporting (Details) - USD ($)	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]
Revenue	$ 10,239,000	$ 10,641,000	$ 29,745,000	$ 31,758,000
Gross Profit	4,218,000	3,870,000	11,485,000	12,597,000
Gain (Loss) on sale of assets	(8,000)	30,000	178,000	1,217,000
Operating Income (Loss)	475,000	156,000	62,000	2,237,000
Depreciation and Amortization			898,000	809,000
Capital expenditures			747,000	879,000
Intangibles, Net	1,252,000		1,252,000		$ 1,383,000
Goodwill	6,191,000		6,191,000		6,247,000
Total Assets	26,883,000		26,883,000		$ 26,377,000
Results Of Operations For Three Months Ended Period [Member]
Segment Reporting Information [Line Items]
Revenue	10,239,000	10,641,000
Gross Profit	$ 4,218,000	$ 3,870,000
GM %	41.20%	36.40%
SG&A	$ 3,735,000	$ 3,744,000
Gain (Loss) on sale of assets	(8,000)	30,000
Operating Income (Loss)	475,000	156,000
Depreciation and Amortization	312,000	275,000
Capital expenditures	291,000	1,937,000
Intangibles, Net	1,252,000	1,333,000	1,252,000	1,333,000
Goodwill	6,191,000	6,333,000	6,191,000	6,333,000
Total Assets	26,883,000	26,471,000	26,883,000	26,471,000
Results Of Operations For Nine Months Ended Period [Member]
Segment Reporting Information [Line Items]
Revenue			29,745,000	31,758,000
Gross Profit			$ 11,485,000	$ 12,597,000
GM %			38.60%	39.70%
SG&A			$ 11,601,000	$ 11,577,000
Gain (Loss) on sale of assets			178,000	1,217,000
Operating Income (Loss)			62,000	2,237,000
Depreciation and Amortization			898,000	809,000
Capital expenditures			747,000	2,618,000
Intangibles, Net	1,252,000	1,333,000	1,252,000	1,333,000
Goodwill	6,191,000	6,333,000	6,191,000	6,333,000
Total Assets	26,883,000	26,471,000	26,883,000	26,471,000
Contract Research [Member] | Results Of Operations For Three Months Ended Period [Member]
Segment Reporting Information [Line Items]
Revenue	4,626,000	5,461,000
Gross Profit	$ 2,027,000	$ 2,121,000
GM %	43.80%	38.80%
SG&A	$ 1,934,000	$ 2,057,000
Gain (Loss) on sale of assets	0	0
Operating Income (Loss)	93,000	64,000
Depreciation and Amortization	74,000	70,000
Capital expenditures	0	0
Intangibles, Net	273,000	307,000	273,000	307,000
Goodwill	4,939,000	4,939,000	4,939,000	4,939,000
Total Assets	9,462,000	9,451,000	9,462,000	9,451,000
Contract Research [Member] | Results Of Operations For Nine Months Ended Period [Member]
Segment Reporting Information [Line Items]
Revenue			13,964,000	16,915,000
Gross Profit			$ 6,077,000	$ 7,093,000
GM %			43.50%	41.90%
SG&A			$ 5,712,000	$ 6,439,000
Gain (Loss) on sale of assets			0	0
Operating Income (Loss)			365,000	654,000
Depreciation and Amortization			222,000	209,000
Capital expenditures			4,000	12,000
Intangibles, Net	273,000	307,000	273,000	307,000
Goodwill	4,939,000	4,939,000	4,939,000	4,939,000
Total Assets	9,462,000	9,451,000	9,462,000	9,451,000
Optics [Member] | Results Of Operations For Three Months Ended Period [Member]
Segment Reporting Information [Line Items]
Revenue	5,613,000	5,172,000
Gross Profit	$ 2,191,000	$ 1,741,000
GM %	39.00%	33.70%
SG&A	$ 1,565,000	$ 1,516,000
Gain (Loss) on sale of assets	(8,000)	0
Operating Income (Loss)	618,000	225,000
Depreciation and Amortization	223,000	190,000
Capital expenditures	270,000	1,937,000
Intangibles, Net	722,000	893,000	722,000	893,000
Goodwill	1,252,000	1,394,000	1,252,000	1,394,000
Total Assets	16,615,000	16,053,000	16,615,000	16,053,000
Optics [Member] | Results Of Operations For Nine Months Ended Period [Member]
Segment Reporting Information [Line Items]
Revenue			15,781,000	14,059,000
Gross Profit			$ 5,408,000	$ 5,175,000
GM %			34.30%	36.80%
SG&A			$ 5,150,000	$ 4,030,000
Gain (Loss) on sale of assets			178,000	0
Operating Income (Loss)			436,000	1,145,000
Depreciation and Amortization			631,000	551,000
Capital expenditures			666,000	2,606,000
Intangibles, Net	722,000	893,000	722,000	893,000
Goodwill	1,252,000	1,394,000	1,252,000	1,394,000
Total Assets	16,615,000	16,053,000	16,615,000	16,053,000
Instruments [Member] | Results Of Operations For Three Months Ended Period [Member]
Segment Reporting Information [Line Items]
Revenue	0	0
Gross Profit	$ 0	$ 0
GM %	0.00%	0.00%
SG&A	$ 0	$ (10,000)
Gain (Loss) on sale of assets	0	30,000
Operating Income (Loss)	0	40,000
Depreciation and Amortization	0	0
Capital expenditures	0	0
Intangibles, Net	0	0	0	0
Goodwill	0	0	0	0
Total Assets	50,000	335,000	50,000	335,000
Instruments [Member] | Results Of Operations For Nine Months Ended Period [Member]
Segment Reporting Information [Line Items]
Revenue			0	773,000
Gross Profit			$ 0	$ 318,000
GM %			0.00%	41.10%
SG&A			$ 0	$ 529,000
Gain (Loss) on sale of assets			0	1,217,000
Operating Income (Loss)			0	1,006,000
Depreciation and Amortization			0	2,000
Capital expenditures			0	0
Intangibles, Net	0	0	0	0
Goodwill	0	0	0	0
Total Assets	50,000	335,000	50,000	335,000
Biomedical [Member] | Results Of Operations For Three Months Ended Period [Member]
Segment Reporting Information [Line Items]
Revenue	0	8,000
Gross Profit	$ 0	$ 8,000
GM %	0.00%	100.00%
SG&A	$ 236,000	$ 181,000
Gain (Loss) on sale of assets	0	0
Operating Income (Loss)	(236,000)	(173,000)
Depreciation and Amortization	15,000	15,000
Capital expenditures	21,000	0
Intangibles, Net	257,000	133,000	257,000	133,000
Goodwill	0	0	0	0
Total Assets	756,000	632,000	756,000	632,000
Biomedical [Member] | Results Of Operations For Nine Months Ended Period [Member]
Segment Reporting Information [Line Items]
Revenue			0	11,000
Gross Profit			$ 0	$ 11,000
GM %			0.00%	100.00%
SG&A			$ 739,000	$ 579,000
Gain (Loss) on sale of assets			0	0
Operating Income (Loss)			(739,000)	(568,000)
Depreciation and Amortization			45,000	47,000
Capital expenditures			77,000	0
Intangibles, Net	257,000	133,000	257,000	133,000
Goodwill	0	0	0	0
Total Assets	$ 756,000	$ 632,000	$ 756,000	$ 632,000

Segment, Customer and Geograp37

Segment, Customer and Geographical Reporting (Details 1) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 10,239,000	$ 10,641,000	$ 29,745,000	$ 31,758,000
% of Total	100.00%	100.00%	100.00%	100.00%
United State [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 8,228,000	$ 8,255,000	$ 23,892,000	$ 25,784,000
% of Total	80.00%	78.00%	80.00%	81.00%
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 1,140,000	$ 689,000	$ 3,147,000	$ 2,363,000
% of Total	11.00%	6.00%	11.00%	8.00%
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 871,000	$ 1,697,000	$ 2,706,000	$ 3,611,000
% of Total	9.00%	16.00%	9.00%	11.00%

Segment, Customer and Geograp38

Segment, Customer and Geographical Reporting (Details Textual)	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
One Customer [Member] | Optics [Member]
Segment Reporting Information [Line Items]
Concentration Risk, Percentage		18.00%		10.00%
Three Customers [Member]
Segment Reporting Information [Line Items]
Concentration Risk, Percentage		10.00%		10.00%
Sales Revenue, Segment [Member]
Segment Reporting Information [Line Items]
Concentration Risk, Percentage	64.00%	68.00%	68.00%	67.00%
Sales Revenue, Segment [Member] | Customer Two [Member] | US Government [Member]
Segment Reporting Information [Line Items]
Concentration Risk, Percentage		10.00%
Sales Revenue, Segment [Member] | Four Customers [Member] | US Government [Member]
Segment Reporting Information [Line Items]
Concentration Risk, Percentage	10.00%		10.00%
Sales Revenue, Segment [Member] | Two Customers [Member] | Optics [Member]
Segment Reporting Information [Line Items]
Concentration Risk, Percentage	10.00%

Income Taxes (Details Textual)

Income Taxes (Details Textual)	3 Months Ended		6 Months Ended	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2014
Income Tax [Line Items]
Effective Income Tax Rate Reconciliation, Percent	4.00%	480.00%		2.40%	5.20%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			34.00%

Settlement of Pension Liabili40

Settlement of Pension Liability (Details Textual)	1 Months Ended
	Dec. 31, 2014USD ($)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefits Paid	$ 688,000
Defined Benefit Plan, Settlements, Benefit Obligation	$ 332,000