Gencor Industries (GENC) 10-Q 5 Aug 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Jun. 30, 2014	Aug. 04, 2014
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Entity Registrant Name	'GENCOR INDUSTRIES INC	'
Entity Central Index Key	'0000064472	'
Current Fiscal Year End Date	'--09-30	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	8,008,632
Class B Stock [Member]	'	'
Document Information [Line Items]	'	'
Entity Common Stock, Shares Outstanding	'	1,509,238

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Sep. 30, 2013
Current Assets:	'	'
Cash and cash equivalents	$9,737,000	$9,557,000
Marketable securities at fair value (cost $83,606,000 at June 30, 2014 and $81,165,000 at September 30, 2013)	87,592,000	83,113,000
Accounts receivable, less allowance for doubtful accounts of $247,000 at June 30, 2014 and $309,000 at September 30, 2013	1,149,000	1,200,000
Costs and estimated earnings in excess of billings	411,000	0
Inventories, net	12,615,000	14,126,000
Prepaid expenses and other current assets	625,000	795,000
Total Current Assets	112,129,000	108,791,000
Property and equipment, net	7,391,000	8,079,000
Other assets	70,000	78,000
Total Assets	119,590,000	116,948,000
Current Liabilities:	'	'
Accounts payable	1,045,000	1,283,000
Customer deposits	330,000	1,943,000
Accrued expenses and other current liabilities	2,226,000	2,810,000
Total Current Liabilities	3,601,000	6,036,000
Deferred and other income taxes	1,351,000	484,000
Total Liabilities	4,952,000	6,520,000
Commitments and contingencies	'	'
Shareholders' equity:	'	'
Preferred stock, par value $.10 per share; authorized 300,000 shares; none issued	0	0
Common stock	801,000	801,000
Capital in excess of par value	10,491,000	10,292,000
Retained earnings	103,195,000	99,184,000
Total Shareholders' Equity	114,638,000	110,428,000
Total Liabilities and Shareholders' Equity	119,590,000	116,948,000
Class B Stock [Member]	'	'
Shareholders' equity:	'	'
Common stock	$151,000	$151,000

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Sep. 30, 2013
Marketable securities, cost	$83,606,000	$81,165,000
Accounts receivable, allowance for doubtful accounts	$247,000	$309,000
Preferred stock, par value	$0.10	$0.10
Preferred stock, shares authorized	300,000	300,000
Preferred stock, shares issued	0	0
Common stock, par value	$0.10	$0.10
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	8,008,632	8,008,632
Common stock, shares outstanding	8,008,632	8,008,632
Class B Stock [Member]	'	'
Common stock, par value	$0.10	$0.10
Common stock, shares authorized	6,000,000	6,000,000
Common stock, shares issued	1,509,238	1,509,238
Common stock, shares outstanding	1,509,238	1,509,238

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]	'	'	'	'
Net revenue	$10,547,000	$18,690,000	$35,107,000	$41,375,000
Costs and expenses:	'	'	'	'
Production costs	8,266,000	13,720,000	27,604,000	31,662,000
Product engineering and development	352,000	420,000	1,083,000	1,322,000
Selling, general and administrative	1,557,000	1,867,000	4,810,000	5,810,000
Total operating expenses	10,175,000	16,007,000	33,497,000	38,794,000
Operating income	372,000	2,683,000	1,610,000	2,581,000
Other income (expense), net:	'	'	'	'
Interest and dividend income, net of fees	168,000	516,000	1,598,000	1,759,000
Net realized and unrealized gains on marketable securities	1,658,000	145,000	2,881,000	888,000
Other	442,000	18,000	434,000	33,000
Other income (expense), net	2,268,000	679,000	4,913,000	2,680,000
Income before income tax expense	2,640,000	3,362,000	6,523,000	5,261,000
Income tax expense	977,000	873,000	2,513,000	771,000
Net Income	$1,663,000	$2,489,000	$4,010,000	$4,490,000
Basic Income per Common Share:	'	'	'	'
Net income per share	$0.17	$0.26	$0.42	$0.47
Diluted Income per Common Share:	'	'	'	'
Net income per share	$0.17	$0.26	$0.42	$0.47

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operations:	'	'
Net Income	$4,010,000	$4,490,000
Adjustments to reconcile net income to cash provided by operating activities:	'	'
Purchases of marketable securities	-220,103,000	-52,657,000
Proceeds from sale and maturity of marketable securities	218,082,000	52,762,000
Change in fair value of marketable securities	-2,458,000	-753,000
Deferred income taxes	867,000	1,694,000
Depreciation and amortization	1,029,000	881,000
Net gains on disposal of property and equipment	-417,000	'
Provision for doubtful accounts	40,000	40,000
Stock-based compensation	199,000	184,000
Changes in assets and liabilities:	'	'
Accounts receivable	11,000	24,000
Costs and estimated earnings in excess of billings	-411,000	783,000
Inventories	1,511,000	24,000
Prepaid expenses and other current assets	170,000	-1,475,000
Accounts payable	-238,000	-186,000
Customer deposits	-1,613,000	1,089,000
Accrued expenses and other	-583,000	-663,000
Total adjustments	-3,914,000	1,747,000
Cash flows provided by operating activities	96,000	6,237,000
Cash flows provided by (used in) investing activities:	'	'
Capital expenditures	-601,000	-1,107,000
Proceeds from sale of property and equipment	685,000	'
Cash flows provided by (used in) investing activities	84,000	-1,107,000
Net increase in cash	180,000	5,130,000
Cash at:	'	'
Beginning of period	9,557,000	3,361,000
End of period	$9,737,000	$8,491,000

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Basis of Presentation	'
	Note 1 - Basis of Presentation
	The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. 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 material adjustments (consisting of normal, recurring adjustments) considered necessary for a fair presentation have been included in the interim financial information. Operating results for the quarter and nine months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the year ending September 30, 2014.
	The accompanying Condensed Consolidated Balance Sheet at September 30, 2013 has been derived from the audited financial statements at that date but does not include all of the information and notes required by generally accepted accounting principles for complete financial statements.
	For further information, refer to the consolidated financial statements and notes thereto included in the Gencor Industries, Inc. Annual Report on Form 10-K for the year ended September 30, 2013.

Marketable_Securities

Marketable Securities	9 Months Ended
	Jun. 30, 2014
Investments Debt And Equity Securities [Abstract]	'
Marketable Securities	'
	Note 2 - Marketable Securities
	Marketable debt and equity securities are categorized as trading securities and are thus marked to market and stated at fair value. Fair value is determined using the quoted closing or latest bid prices for Level 1 investments and market standard valuation methodologies for Level 2 investments. Realized gains and losses on investment transactions are determined by specific identification and are recognized as incurred in the consolidated statements of operations. Net unrealized gains and losses are reported in the consolidated statements of operations in the current period and represent the change in the fair value of investment holdings during the period.
	Fair Value Measurements
	The fair value of financial instruments is presented based upon a hierarchy of levels that prioritizes the inputs of valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.
	The fair value of marketable equity securities, exchange traded funds, mutual funds and U.S. treasury bills are substantially based on quoted market prices (Level 1). Corporate and municipal bonds are valued using market standard valuation methodologies, including: discounted cash flow methodologies, matrix pricing or other similar techniques. The inputs to these market standard valuation methodologies include, but are not limited to: interest rates, credit standing of the issuer or counterparty, industry sector of the issuer, coupon rate, call provisions, maturity, estimated duration and assumptions regarding liquidity and estimated future cash flows. In addition to bond characteristics, the valuation methodologies incorporate market data, such as actual trades completed, bids and actual dealer quotes, where such information is available. Accordingly, the estimated fair values are based on available market information and judgments about financial instruments (Level 2). Fair values of the Level 2 investments are provided by the Company’s professional investment management firm.
	The following table sets forth, by level, within the fair value hierarchy, the Company’s marketable securities measured at fair value as of June 30, 2014:
		Fair Value Measurements
		Level 1		Level 2		Level 3		Total
	Equities	$	18,944,000	$	—	$	—	$	18,944,000
	Mutual Funds		24,608,000		—		—		24,608,000
	Exchange Traded Funds		2,010,000		—		—		2,010,000
	United States Treasury Bills		40,000,000		—		—		40,000,000
	Cash		2,030,000		—		—		2,030,000
	Total	$	87,592,000	$	—	$	—	$	87,592,000
	Net unrealized gains included in the consolidated statement of operations for the quarter and nine months ended June 30, 2014, on trading securities still held as of June 30, 2014, were $1,334,000 and $2,038,000, respectively. There were no transfers of investments between Level 1 and Level 2 during the nine months ended June 30, 2014.
	The following table sets forth, by level, within the fair value hierarchy, the Company’s marketable securities measured at fair value as of September 30, 2013:
		Fair Value Measurements
		Level 1		Level 2		Level 3		Total
	Equities	$	12,634,000	$	—	$	—	$	12,634,000
	Mutual Funds		28,264,000		—		—		28,264,000
	Exchange Traded Funds		5,162,000		—		—		5,162,000
	Corporate Bonds		—		17,376,000		—		17,376,000
	Municipal Bonds		—		15,555,000		—		15,555,000
	United States Treasury Bills		2,000,000		—		—		2,000,000
	Cash		2,122,000		—		—		2,122,000
	Total	$	50,182,000	$	32,931,000	$	—	$	83,113,000
	Net unrealized gains and (losses) included in the consolidated statement of operations for the quarter and nine months ended June 30, 2013, on trading securities still held as of June 30, 2013, were $(832,000) and $475,000, respectively. Estimated interest accrued on the corporate and municipal bond portfolio was $399,000 at September 30, 2013. There were no transfers of investments between Level 1 and Level 2 during the nine months ended June 30, 2013.
	The carrying amounts of cash and cash equivalents, accounts receivable and accounts payable approximate fair value because of the short-term nature of these items.

Inventories

Inventories	9 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]	'
Inventories	'
	Note 3 – Inventories
	Inventories are valued at the lower of cost or market, with cost being determined principally by using the last-in, first-out (“LIFO”) method and market defined as replacement cost for raw materials and net realizable value for work in process and finished goods. Appropriate consideration is given to obsolescence, excessive levels, deterioration, possible alternative uses and other factors in determining net realizable value. The cost of work in process and finished goods includes materials, direct labor, variable costs and overhead. The Company evaluates the need to record inventory allowances on all inventories, including raw material, work in process, finished goods, spare parts and used equipment. Used equipment acquired by the Company on trade-in from customers is carried at estimated net realizable value. Unless specific circumstances warrant different treatment regarding inventory obsolescence, the cost basis of inventories three to four years old is reduced by 50%, while the cost basis of inventories four to five years old is reduced by 75%, and the cost basis of inventories greater than five years old is reduced to zero. Inventory is typically reviewed for obsolescence on an annual basis computed as of September 30, the Company’s fiscal year end. If significant known changes in trends, technology or other specific circumstances that warrant consideration occur during the year, then the impact on obsolescence is considered at that time. No such provisions were made during the quarter and nine months ended June 30, 2014.
	Net inventories at June 30, 2014 and September 30, 2013 consist of the following:
		June 30, 2014		September 30, 2013
	Raw materials	$	6,002,000	$	6,238,000
	Work in process		2,218,000		3,307,000
	Finished goods		4,121,000		4,054,000
	Used equipment		274,000		527,000
		$	12,615,000	$	14,126,000

Costs_and_Estimated_Earnings_i

Costs and Estimated Earnings in Excess of Billings	9 Months Ended
	Jun. 30, 2014
Text Block [Abstract]	'
Costs and Estimated Earnings in Excess of Billings	'
	Note 4 – Costs and Estimated Earnings in Excess of Billings
	There were no costs and estimated earnings in excess of billings on uncompleted contracts as of September 30, 2013. Costs and estimated earnings in excess of billings on uncompleted contracts as of June 30, 2014 consist of the following:
		June 30, 2014
	Costs incurred on uncompleted contracts	$	2,667,000
	Estimated earnings		1,240,000
			3,907,000
	Billings to date		3,496,000
	Costs and estimated earnings in excess of billings	$	411,000

Earnings_per_Share_Data

Earnings per Share Data	9 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Earnings per Share Data	'
	Note 5 – Earnings per Share Data
	The following table sets forth the computation of basic and diluted earnings per share for the quarters and nine months ended June 30, 2014 and 2013:
		Quarter Ended June 30,				Nine Months Ended June 30,
		2014		2013		2014		2013
	Net Income	$	1,663,000	$	2,489,000	$	4,010,000	$	4,490,000
	Common Shares:
	Weighted average common shares outstanding		9,518,000		9,518,000		9,518,000		9,518,000
	Effect of dilutive stock options		84,000		—		66,000		—
	Diluted shares outstanding		9,602,000		9,518,000		9,584,000		9,518,000
	Basic:
	Net earnings per share	$	0.17	$	0.26	$	0.42	$	0.47
	Diluted:
	Net earnings per share	$	0.17	$	0.26	$	0.42	$	0.47
	Basic earnings per share are based on the weighted average number of shares outstanding. Diluted earnings per share are based on the sum of the weighted average number of shares outstanding plus common stock equivalents. Weighted-average shares issuable upon the exercise of stock options included in the diluted earnings per share calculation for the quarter and nine months ended June 30, 2014 were 346,000 and 335,000, respectively, which equates to 84,000 and 66,000 dilutive common stock equivalents, respectively. For the quarter and nine months ended June 30, 2013, there were no common stock equivalents included in the diluted earnings per share calculations, as to do so would have been anti-dilutive. Weighted-average shares issuable upon the exercise of stock options, which were not included in the diluted earnings per share calculation because they were anti-dilutive, were zero and 11,000, respectively, for the quarter and nine months ended June 30, 2014, and 346,000 for the quarter and nine months ended June 30, 2013.

Customers_with_10_or_greater_o

Customers with 10% (or greater) of Net Revenues	9 Months Ended
	Jun. 30, 2014
Risks And Uncertainties [Abstract]	'
Customers with 10% (or greater) of Net Revenues	'
	Note 6 – Customers with 10% (or greater) of Net Revenues
	Approximately 6% of net revenues in the June 30, 2014 quarter and 2% of net revenues for the June 30, 2013 quarter were from entities owned by a global company. For the nine months ended June 30, 2014 and June 30, 2013, this company represented 17% and 13% of net revenues, respectively.

Disposal_of_Property_in_the_Un

Disposal of Property in the United Kingdom	9 Months Ended
	Jun. 30, 2014
Discontinued Operations And Disposal Groups [Abstract]	'
Disposal of Property in the United Kingdom	'
	Note 7 – Disposal of Property in the United Kingdom
	In May 2014, the Company sold its property in the United Kingdom which had been used as an operating facility through June 2009. Net proceeds from the sale of the property were $685,000. The Company recognized a gain on the sale of this property of $442,000 which is included as other income in the accompanying Condensed Consolidated Statement of Operations for the quarter and nine months ended June 30, 2014.

Marketable_Securities_Policies

Marketable Securities (Policies)	9 Months Ended
	Jun. 30, 2014
Investments Debt And Equity Securities [Abstract]	'
Fair Value Measurements	'
	Fair Value Measurements
	The fair value of financial instruments is presented based upon a hierarchy of levels that prioritizes the inputs of valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.
	The fair value of marketable equity securities, exchange traded funds, mutual funds and U.S. treasury bills are substantially based on quoted market prices (Level 1). Corporate and municipal bonds are valued using market standard valuation methodologies, including: discounted cash flow methodologies, matrix pricing or other similar techniques. The inputs to these market standard valuation methodologies include, but are not limited to: interest rates, credit standing of the issuer or counterparty, industry sector of the issuer, coupon rate, call provisions, maturity, estimated duration and assumptions regarding liquidity and estimated future cash flows. In addition to bond characteristics, the valuation methodologies incorporate market data, such as actual trades completed, bids and actual dealer quotes, where such information is available. Accordingly, the estimated fair values are based on available market information and judgments about financial instruments (Level 2). Fair values of the Level 2 investments are provided by the Company’s professional investment management firm.
	The following table sets forth, by level, within the fair value hierarchy, the Company’s marketable securities measured at fair value as of June 30, 2014:
		Fair Value Measurements
		Level 1		Level 2		Level 3		Total
	Equities	$	18,944,000	$	—	$	—	$	18,944,000
	Mutual Funds		24,608,000		—		—		24,608,000
	Exchange Traded Funds		2,010,000		—		—		2,010,000
	United States Treasury Bills		40,000,000		—		—		40,000,000
	Cash		2,030,000		—		—		2,030,000
	Total	$	87,592,000	$	—	$	—	$	87,592,000
	Net unrealized gains included in the consolidated statement of operations for the quarter and nine months ended June 30, 2014, on trading securities still held as of June 30, 2014, were $1,334,000 and $2,038,000, respectively. There were no transfers of investments between Level 1 and Level 2 during the nine months ended June 30, 2014.
	The following table sets forth, by level, within the fair value hierarchy, the Company’s marketable securities measured at fair value as of September 30, 2013:
		Fair Value Measurements
		Level 1		Level 2		Level 3		Total
	Equities	$	12,634,000	$	—	$	—	$	12,634,000
	Mutual Funds		28,264,000		—		—		28,264,000
	Exchange Traded Funds		5,162,000		—		—		5,162,000
	Corporate Bonds		—		17,376,000		—		17,376,000
	Municipal Bonds		—		15,555,000		—		15,555,000
	United States Treasury Bills		2,000,000		—		—		2,000,000
	Cash		2,122,000		—		—		2,122,000
	Total	$	50,182,000	$	32,931,000	$	—	$	83,113,000
	Net unrealized gains and (losses) included in the consolidated statement of operations for the quarter and nine months ended June 30, 2013, on trading securities still held as of June 30, 2013, were $(832,000) and $475,000, respectively. Estimated interest accrued on the corporate and municipal bond portfolio was $399,000 at September 30, 2013. There were no transfers of investments between Level 1 and Level 2 during the nine months ended June 30, 2013.
	The carrying amounts of cash and cash equivalents, accounts receivable and accounts payable approximate fair value because of the short-term nature of these items.

Marketable_Securities_Tables

Marketable Securities (Tables)	9 Months Ended
	Jun. 30, 2014
Investments Debt And Equity Securities [Abstract]	'
Company's Marketable Securities Measured at Fair Value	'
	The following table sets forth, by level, within the fair value hierarchy, the Company’s marketable securities measured at fair value as of June 30, 2014:
		Fair Value Measurements
		Level 1		Level 2		Level 3		Total
	Equities	$	18,944,000	$	—	$	—	$	18,944,000
	Mutual Funds		24,608,000		—		—		24,608,000
	Exchange Traded Funds		2,010,000		—		—		2,010,000
	United States Treasury Bills		40,000,000		—		—		40,000,000
	Cash		2,030,000		—		—		2,030,000
	Total	$	87,592,000	$	—	$	—	$	87,592,000
	Net unrealized gains included in the consolidated statement of operations for the quarter and nine months ended June 30, 2014, on trading securities still held as of June 30, 2014, were $1,334,000 and $2,038,000, respectively. There were no transfers of investments between Level 1 and Level 2 during the nine months ended June 30, 2014.
	The following table sets forth, by level, within the fair value hierarchy, the Company’s marketable securities measured at fair value as of September 30, 2013:
		Fair Value Measurements
		Level 1		Level 2		Level 3		Total
	Equities	$	12,634,000	$	—	$	—	$	12,634,000
	Mutual Funds		28,264,000		—		—		28,264,000
	Exchange Traded Funds		5,162,000		—		—		5,162,000
	Corporate Bonds		—		17,376,000		—		17,376,000
	Municipal Bonds		—		15,555,000		—		15,555,000
	United States Treasury Bills		2,000,000		—		—		2,000,000
	Cash		2,122,000		—		—		2,122,000
	Total	$	50,182,000	$	32,931,000	$	—	$	83,113,000

Inventories_Tables

Inventories (Tables)	9 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]	'
Net Inventories	'
	Net inventories at June 30, 2014 and September 30, 2013 consist of the following:
		June 30, 2014		September 30, 2013
	Raw materials	$	6,002,000	$	6,238,000
	Work in process		2,218,000		3,307,000
	Finished goods		4,121,000		4,054,000
	Used equipment		274,000		527,000
		$	12,615,000	$	14,126,000

Costs_and_Estimated_Earnings_i1

Costs and Estimated Earnings in Excess of Billings (Tables)	9 Months Ended
	Jun. 30, 2014
Text Block [Abstract]	'
Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts	'
	contracts as of September 30, 2013. Costs and estimated earnings in excess of billings on uncompleted contracts as of June 30, 2014 consist of the following:
		June 30, 2014
	Costs incurred on uncompleted contracts	$	2,667,000
	Estimated earnings		1,240,000
			3,907,000
	Billings to date		3,496,000
	Costs and estimated earnings in excess of billings	$	411,000

Earnings_per_Share_Data_Tables

Earnings per Share Data (Tables)	9 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Basic and Diluted Earnings (loss) Per Share	'
	The following table sets forth the computation of basic and diluted earnings per share for the quarters and nine months ended June 30, 2014 and 2013:
		Quarter Ended June 30,				Nine Months Ended June 30,
		2014		2013		2014		2013
	Net Income	$	1,663,000	$	2,489,000	$	4,010,000	$	4,490,000
	Common Shares:
	Weighted average common shares outstanding		9,518,000		9,518,000		9,518,000		9,518,000
	Effect of dilutive stock options		84,000		—		66,000		—
	Diluted shares outstanding		9,602,000		9,518,000		9,584,000		9,518,000
	Basic:
	Net earnings per share	$	0.17	$	0.26	$	0.42	$	0.47
	Diluted:
	Net earnings per share	$	0.17	$	0.26	$	0.42	$	0.47

Marketable_Securities_Companys

Marketable Securities - Company's Marketable Securities Measured at Fair Value (Detail) (USD $)	Jun. 30, 2014	Sep. 30, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	$87,592,000	$83,113,000
Equities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	18,944,000	12,634,000
Mutual Funds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	24,608,000	28,264,000
Exchange Traded Funds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	2,010,000	5,162,000
Corporate Bonds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	'	17,376,000
Municipal Bonds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	'	15,555,000
United States Treasury Bills [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	40,000,000	2,000,000
Cash [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	2,030,000	2,122,000
Level 1 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	87,592,000	50,182,000
Level 1 [Member] | Equities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	18,944,000	12,634,000
Level 1 [Member] | Mutual Funds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	24,608,000	28,264,000
Level 1 [Member] | Exchange Traded Funds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	2,010,000	5,162,000
Level 1 [Member] | Corporate Bonds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	'	'
Level 1 [Member] | Municipal Bonds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	'	'
Level 1 [Member] | United States Treasury Bills [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	40,000,000	2,000,000
Level 1 [Member] | Cash [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	2,030,000	2,122,000
Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	0	32,931,000
Level 2 [Member] | Equities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	0	'
Level 2 [Member] | Mutual Funds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	0	'
Level 2 [Member] | Exchange Traded Funds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	0	'
Level 2 [Member] | Corporate Bonds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	'	17,376,000
Level 2 [Member] | Municipal Bonds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	'	15,555,000
Level 2 [Member] | United States Treasury Bills [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	0	'
Level 2 [Member] | Cash [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	0	'
Level 3 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	0	0
Level 3 [Member] | Equities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	0	0
Level 3 [Member] | Mutual Funds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	0	0
Level 3 [Member] | Exchange Traded Funds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	0	0
Level 3 [Member] | Corporate Bonds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	'	0
Level 3 [Member] | Municipal Bonds [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	'	0
Level 3 [Member] | United States Treasury Bills [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	0	0
Level 3 [Member] | Cash [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total	$0	$0

Marketable_Securities_Addition

Marketable Securities - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Sep. 30, 2013
Marketable Securities [Abstract]	'	'	'	'	'
Net unrealized gains (losses)	$1,334,000	($832,000)	$2,038,000	$475,000	'
Transfers of investments between Level 1 and Level 2	0	0	0	0	'
Estimated interest accrued	'	'	'	'	$399,000

Inventories_Additional_Informa

Inventories - Additional Information (Detail) (USD $)	9 Months Ended
	Jun. 30, 2014
Three to Four Years Old Inventory [Member]	'
Inventory [Line Items]	'
Cost basis reduction in inventory, percentage	50.00%
Three to Four Years Old Inventory [Member] | Minimum [Member]	'
Inventory [Line Items]	'
Inventory, time period on the shelf, years	'3 years
Three to Four Years Old Inventory [Member] | Maximum [Member]	'
Inventory [Line Items]	'
Inventory, time period on the shelf, years	'4 years
Four to Five Years Old Inventory [Member]	'
Inventory [Line Items]	'
Cost basis reduction in inventory, percentage	75.00%
Four to Five Years Old Inventory [Member] | Minimum [Member]	'
Inventory [Line Items]	'
Inventory, time period on the shelf, years	'4 years
Four to Five Years Old Inventory [Member] | Maximum [Member]	'
Inventory [Line Items]	'
Inventory, time period on the shelf, years	'5 years
Greater Than Five Years Old Inventory [Member]	'
Inventory [Line Items]	'
Inventory valuation estimate	0
Greater Than Five Years Old Inventory [Member] | Minimum [Member]	'
Inventory [Line Items]	'
Inventory, time period on the shelf, years	'5 years

Inventories_Net_Inventories_De

Inventories - Net Inventories (Detail) (USD $)	Jun. 30, 2014	Sep. 30, 2013
Inventory Net [Abstract]	'	'
Raw materials	$6,002,000	$6,238,000
Work in process	2,218,000	3,307,000
Finished goods	4,121,000	4,054,000
Used equipment	274,000	527,000
Inventories, net	$12,615,000	$14,126,000

Costs_and_Estimated_Earnings_i2

Costs and Estimated Earnings in Excess of Billings - Additional Information (Detail) (USD $)	Jun. 30, 2014	Sep. 30, 2013
Costs In Excess Of Billings On Uncompleted Contracts Or Programs [Abstract]	'	'
Costs and estimated earnings in excess of billings on uncompleted contracts	$411,000	$0

Costs_and_Estimated_Earnings_i3

Costs and Estimated Earnings in Excess of Billings - Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts (Detail) (USD $)	Jun. 30, 2014	Sep. 30, 2013
Costs In Excess Of Billings On Uncompleted Contracts Or Programs [Abstract]	'	'
Costs incurred on uncompleted contracts	$2,667,000	'
Estimated earnings	1,240,000	'
Costs and estimated earnings on uncompleted contracts	3,907,000	'
Billings to date	3,496,000	'
Costs and estimated earnings in excess of billings	$411,000	$0

Earnings_Per_Share_Data_Basic_

Earnings Per Share Data - Basic and Diluted Earnings (loss) Per Share (Detail) (USD $)	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Earnings Per Share [Abstract]	'	'	'	'
Net Income	$1,663,000	$2,489,000	$4,010,000	$4,490,000
Common Shares:	'	'	'	'
Weighted average common shares outstanding	9,518,000	9,518,000	9,518,000	9,518,000
Effect of dilutive stock options	84,000	0	66,000	0
Diluted shares outstanding	9,602,000	9,518,000	9,584,000	9,518,000
Basic:	'	'	'	'
Net earnings per share	$0.17	$0.26	$0.42	$0.47
Diluted:	'	'	'	'
Net earnings per share	$0.17	$0.26	$0.42	$0.47

Earnings_Per_Share_Data_Additi

Earnings Per Share Data - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Earnings Per Share [Abstract]	'	'	'	'
Weighted average shares issuable	346,000	'	335,000	'
Dilutive common stock equivalents	84,000	0	66,000	0
Number of anti-dilutive common stock equivalents (stock options) excluded	0	346,000	11,000	346,000

Customers_with_10_or_greater_o1

Customers with 10% (or greater) of Net Revenues - Additional Information (Detail) (Sales Revenue, Net [Member])	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Sales Revenue, Net [Member]	'	'	'	'
Concentration Risk [Line Items]	'	'	'	'
Net revenues concentration risk, percentage	6.00%	2.00%	17.00%	13.00%

Disposal_of_Property_in_the_Un1

Disposal of Property in the United Kingdom - Additional Information (Detail) (USD $)	1 Months Ended	9 Months Ended	3 Months Ended	9 Months Ended
	31-May-14	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
			Other Income [Member]	Other Income [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'
Net proceeds from the sale of property	$685,000	$685,000	'	'
Gain on sale of property	'	'	$442,000	$442,000