Gencor Industries (GENC) 10-Q 6 Aug 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Jun. 30, 2020	Jul. 31, 2020
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Registrant Name	GENCOR INDUSTRIES INC
Entity File Number	001-11703
Entity Tax Identification Number	59-0933147
Trading Symbol	GENC
Entity Central Index Key	0000064472
Current Fiscal Year End Date	--09-30
Document Quarterly Report	true
Document Transition Report	false
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Interactive Data Current	Yes
City Area Code	407
Local Phone Number	290-6000
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Address, Address Line One	5201 North Orange Blossom Trail
Entity Shell Company	false
Title of 12(b) Security	Common Stock
Security Exchange Name	NASDAQ
Entity Address, State or Province	FL
Entity Address, City or Town	Orlando
Entity Address, Postal Zip Code	32810
Entity Incorporation, State or Country Code	DE
Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,287,337
Class B Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,318,857

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2020	Sep. 30, 2019
Current Assets:
Cash and cash equivalents	$ 18,564,000	$ 10,302,000
Marketable securities at fair value (cost $105,388,000 at June 30, 2020 and $104,176,000 at September 30, 2019)	105,675,000	105,322,000
Accounts receivable, less allowance for doubtful accounts of $419,000 at June 30, 2020 and $459,000 at September 30, 2019	1,609,000	1,603,000
Costs and estimated earnings in excess of billings	10,064,000	13,838,000
Inventories, net	24,562,000	25,366,000
Prepaid expenses and other current assets	1,649,000	499,000
Total current assets	162,123,000	156,930,000
Property and equipment, net	8,391,000	8,389,000
Other assets	53,000	53,000
Total Assets	170,567,000	165,372,000
Current liabilities:
Accounts payable	2,089,000	1,907,000
Customer deposits	2,651,000	1,918,000
Accrued expenses and other current liabilities	2,694,000	2,660,000
Total current liabilities	7,434,000	6,485,000
Deferred and other income taxes	1,306,000	3,372,000
Total liabilities	8,740,000	9,857,000
Commitments and contingencies
Shareholders' equity:
Preferred stock, par value $.10 per share; 300,000 shares authorized; none issued	0	0
Capital in excess of par value	12,313,000	12,159,000
Retained earnings	148,053,000	141,897,000
Total shareholders' equity	161,827,000	155,515,000
Total Liabilities and Shareholders' Equity	170,567,000	165,372,000
Common Stock [Member]
Shareholders' equity:
Common stock	1,229,000	1,228,000
Total shareholders' equity	1,229,000	1,228,000
Class B Stock [Member]
Shareholders' equity:
Common stock	232,000	231,000
Total shareholders' equity	$ 232,000	$ 231,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2020	Sep. 30, 2019
Marketable securities, cost	$ 105,388,000	$ 104,176,000
Accounts receivable, allowance for doubtful accounts	$ 419,000	$ 459,000
Preferred stock, par value	$ 0.10	$ 0.10
Preferred stock, shares authorized	300,000	300,000
Preferred stock, shares issued	0	0
Common Stock [Member]
Common stock, par value	$ 0.10	$ 0.10
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	12,287,337	12,277,337
Common stock, shares outstanding	12,287,337	12,277,337
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	2,318,857	2,308,857
Common stock, shares outstanding	2,318,857	2,308,857

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended			9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019		Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Net revenue	$ 22,940,000	$ 18,848,000		$ 66,963,000	$ 66,845,000
Costs and expenses:
Production costs	17,555,000	14,098,000		49,920,000	47,267,000
Product engineering and development	849,000	881,000		2,304,000	2,427,000
Selling, general and administrative	2,522,000	2,471,000		7,465,000	7,135,000
Total operating expenses	20,926,000	17,450,000		59,689,000	56,829,000
Operating income	2,014,000	1,398,000		7,274,000	10,016,000
Other income (expense), net:
Interest and dividend income, net of fees	512,000	567,000		1,907,000	1,608,000
Net realized and unrealized gains (losses) on marketable securities	2,888,000	1,090,000		(1,465,000)	1,147,000
Other	(10,000)	0		(20,000)	0
Other income (expense),net	3,390,000	1,657,000		422,000	2,755,000
Income before income tax expense	5,404,000	3,055,000		7,696,000	12,771,000
Income tax expense	1,082,000	611,000		1,540,000	2,554,000
Net income	$ 4,322,000	$ 2,444,000	[1]	$ 6,156,000	$ 10,217,000
Basic Income per Common Share:
Net income per share	$ 0.30	$ 0.17		$ 0.42	$ 0.70
Diluted Income per Common Share:
Net income per share	$ 0.29	$ 0.17		$ 0.42	$ 0.69
[1]	The balances as of September 30, 2018, December 31, 2018, March 31, 2019 and June 30, 2019, and the amounts for the quarter and nine months ended June 30, 2019, have been adjusted to reflect the change in inventory accounting method, as described in Note 3 to the Condensed Consolidated Financial Statements.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity - USD ($)		Total		Capital in Excess of Par Value [Member]	Retained Earnings [Member]		Common Stock [Member]	Class B Stock [Member]
Beginning balance at Sep. 30, 2018		$ 145,017,000	[1]	$ 11,862,000	$ 131,701,000	[1]	$ 1,225,000	$ 229,000
Beginning balance, shares at Sep. 30, 2018							12,252,337	2,288,857
Net income	[1]	313,000			313,000
Stock-based compensation		17,000	[1]	17,000
Ending balance at Dec. 31, 2018		145,347,000	[1]	11,879,000	132,014,000	[1]	$ 1,225,000	$ 229,000
Ending balance, shares at Dec. 31, 2018							12,252,337	2,288,857
Beginning balance at Sep. 30, 2018		145,017,000	[1]	11,862,000	131,701,000	[1]	$ 1,225,000	$ 229,000
Beginning balance, shares at Sep. 30, 2018							12,252,337	2,288,857
Net income		10,217,000
Ending balance at Jun. 30, 2019		155,287,000	[1]	11,915,000	141,918,000	[1]	$ 1,225,000	$ 229,000
Ending balance, shares at Jun. 30, 2019							12,252,337	2,288,857
Beginning balance at Dec. 31, 2018		145,347,000	[1]	11,879,000	132,014,000	[1]	$ 1,225,000	$ 229,000
Beginning balance, shares at Dec. 31, 2018							12,252,337	2,288,857
Net income	[1]	7,460,000			7,460,000
Stock-based compensation		18,000	[1]	18,000
Ending balance at Mar. 31, 2019		152,825,000	[1]	11,897,000	139,474,000	[1]	$ 1,225,000	$ 229,000
Ending balance, shares at Mar. 31, 2019							12,252,337	2,288,857
Net income	[1]	2,444,000			2,444,000
Stock-based compensation		18,000	[1]	18,000
Ending balance at Jun. 30, 2019		155,287,000	[1]	11,915,000	141,918,000	[1]	$ 1,225,000	$ 229,000
Ending balance, shares at Jun. 30, 2019							12,252,337	2,288,857
Beginning balance at Sep. 30, 2019		155,515,000		12,159,000	141,897,000		$ 1,228,000	$ 231,000
Beginning balance, shares at Sep. 30, 2019							12,277,337	2,308,857
Net income		2,489,000			2,489,000
Stock-based compensation		18,000		18,000
Ending balance at Dec. 31, 2019		158,022,000		12,177,000	144,386,000		$ 1,228,000	$ 231,000
Ending balance, shares at Dec. 31, 2019							12,277,337	2,308,857
Beginning balance at Sep. 30, 2019		155,515,000		12,159,000	141,897,000		$ 1,228,000	$ 231,000
Beginning balance, shares at Sep. 30, 2019							12,277,337	2,308,857
Net income		6,156,000
Ending balance at Jun. 30, 2020		161,827,000		12,313,000	148,053,000		$ 1,229,000	$ 232,000
Ending balance, shares at Jun. 30, 2020							12,287,337	2,318,857
Beginning balance at Dec. 31, 2019		158,022,000		12,177,000	144,386,000		$ 1,228,000	$ 231,000
Beginning balance, shares at Dec. 31, 2019							12,277,337	2,308,857
Net income		(655,000)			(655,000)
Stock-based compensation		17,000		17,000
Ending balance at Mar. 31, 2020		157,384,000		12,194,000	143,731,000		$ 1,228,000	$ 231,000
Ending balance, shares at Mar. 31, 2020							12,277,337	2,308,857
Net income		4,322,000		0	4,322,000		$ 0	$ 0
Stock-based compensation		18,000		18,000	0		0	0
Stock options exercised		103,000		101,000	0		$ 1,000	$ 1,000
Stock options exercised, shares							10,000	10,000
Ending balance at Jun. 30, 2020		$ 161,827,000		$ 12,313,000	$ 148,053,000		$ 1,229,000	$ 232,000
Ending balance, shares at Jun. 30, 2020							12,287,337	2,318,857
[1]	The balances as of September 30, 2018, December 31, 2018, March 31, 2019 and June 30, 2019, and the amounts for the quarter and nine months ended June 30, 2019, have been adjusted to reflect the change in inventory accounting method, as described in Note 3 to the Condensed Consolidated Financial Statements.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operations:
Net income	$ 6,156,000	$ 10,217,000
Adjustments to reconcile net income to cash flows provided by operating activities:
Purchases of marketable securities	(112,668,000)	(152,063,000)
Proceeds from sale and maturity of marketable securities	110,805,000	152,678,000
Change in fair value of marketable securities	1,510,000	(1,324,000)
Deferred income taxes	(2,066,000)	(25,000)
Depreciation and amortization	1,244,000	1,188,000
Provision for doubtful accounts	50,000	100,000
Stock-based compensation	53,000	53,000
Changes in assets and liabilities:
Accounts receivable	(56,000)	(589,000)
Costs and estimated earnings in excess of billings	3,774,000	(8,622,000)
Inventories	804,000	(1,781,000)
Prepaid expenses and other current assets	(1,150,000)	959,000
Accounts payable	182,000	756,000
Customer deposits	733,000	(2,101,000)
Accrued expenses and other current liabilities	34,000	577,000
Total adjustments	3,249,000	(10,194,000)
Cash flows provided by operating activities	9,405,000	23,000
Cash flows used in investing activities:
Capital expenditures	(1,246,000)	(1,600,000)
Cash flows used in investing activities	(1,246,000)	(1,600,000)
Cash flows from financing activities:
Proceeds from stock option exercises	103,000
Cash flows provided by financing activities	103,000
Net increase (decrease) in cash	8,262,000	(1,577,000)
Cash at:
Beginning of period	10,302,000	8,012,000
End of period	$ 18,564,000	$ 6,435,000

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [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 S-X. The accompanying Condensed Consolidated Balance Sheet at September 30, 2019 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 Recent Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers 2014-09”), 2014-09 2014-09 In February 2016, the FASB issued ASU No. 2016-02, Leases must In May 2017, the FASB issued ASU 2017-09, Compensation - Stock Compensation Scope of Modification Accounting 2017-09”). 2017-09 2017-09 2017-09 No other accounting pronouncements recently issued or newly effective have had, or are expected to have, a material impact on the Company’s consolidated financial statements. COVID-19 The Company continues to monitor and evaluate the risks to public health and the slowdown in overall business activity related to the COVID-19 COVID-19 COVID-19 COVID-19 COVID-19.

Marketable Securities and Fair

Marketable Securities and Fair Value Measurements	9 Months Ended
	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	Note 2 - Marketable Securities and Fair Value Measurements Marketable debt and equity securities are categorized as trading securities and are thus 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, mutual funds, exchange-traded funds, government securities, and cash and money funds 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, if any, 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, 2020: Fair Value Measurements Level 1 Level 2 Level 3 Total Equities $ 12,089,000 $ — $ — $ 12,089,000 Mutual Funds 3,983,000 — — 3,983,000 Exchange-Traded Funds 7,140,000 — — 7,140,000 Corporate Bonds — 38,058,000 — 38,058,000 Government Securities 33,789,000 — — 33,789,000 Cash and Money Funds 10,616,000 — — 10,616,000 $ 67,617,000 $ 38,058,000 $ — $ 105,675,000 Changes in net unrealized gains and (losses) included in the condensed consolidated statements of income for the quarter and nine months ended June 30, 2020, were $ ( ) The following table sets forth by level, within the fair value hierarchy, the Company’s assets measured at fair value as of September 30, 2019: Fair Value Measurements Level 1 Level 2 Level 3 Total Equities $ 10,412,000 $ — $ — $ 10,412,000 Mutual Funds 3,987,000 — — 3,987,000 Exchange-Traded Funds 5,163,000 — — 5,163,000 Corporate Bonds — 38,690,000 — 38,690,000 Government Securities 45,171,000 — — 45,171,000 Cash and Money Funds 1,899,000 — — 1,899,000 $ 66,632,000 $ 38,690,000 $ — $ 105,322,000 Changes in net unrealized gains and (losses) included in the condensed consolidated statements of income for the quarter and nine months ended June 30, 2019, were $3,979,000 and $(857,000), respectively. There were no transfers of investments between Level 1 and Level 2 during the nine months ended June 30, 2019. 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, 2020
Inventory Disclosure [Abstract]
Inventories	Note 3 – Inventories Inventories are valued at the lower of cost or net realizable value. Net realizable value is defined as the estimated selling price of goods less reasonable costs of completion and delivery. During the fourth quarter of fiscal 2019, the Company changed its method for accounting for cost of inventories from the last-in, first-out first-in, first-out The fiscal 2018 consolidated financial statements were retrospectively adjusted to apply the new method of FIFO cost accounting for inventories. The cumulative effect of this change on periods prior to those presented herein resulted in an increase in retained earnings of $2,708,000. There was no material impact to the previously reported unaudited interim fiscal 2018 quarterly condensed consolidated results of operations or statements of income as a result of the retrospective application of the change in inventory accounting principle. 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 adjustments 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 three four Net inventories at June 30, 2020 and September 30, 2019 consist of the following: June 30, September 30, Raw materials $ 15,090,000 $ 14,158,000 Work in process 580,000 1,397,000 Finished goods 8,852,000 9,811,000 Used equipment 40,000 — $ 24,562,000 $ 25,366,000 Slow-moving and obsolete inventory allow ances

Costs and Estimated Earnings in

Costs and Estimated Earnings in Excess of Billings	9 Months Ended
	Jun. 30, 2020
Text Block [Abstract]
Costs and Estimated Earnings in Excess of Billings	Note 4 – Costs and Estimated Earnings in Excess of Billings Costs and estimated earnings in excess of billings on uncompleted contracts as of June 30, 2020 and September 30, 2019 consist of the following: June 30, September 30, Costs incurred on uncompleted contracts $ 13,792,000 $ 18,707,000 Estimated earnings 5,555,000 9,063,000 19,347,000 27,770,000 Billings to date 9,283,000 13,932,000 Costs and estimated earnings in excess of billings $ 10,064,000 $ 13,838,000

Earnings per Share Data

Earnings per Share Data	9 Months Ended
	Jun. 30, 2020
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, 2020 and 2019: Quarter Ended June 30, Nine Months Ended 2020 2019 2020 2019 Net Income $ 4,322,000 $ 2,444,000 $ 6,156,000 $ 10,217,000 Common Shares: Weighted average common shares outstanding 14,601,000 14,541,000 14,592,000 14,541,000 Effect of dilutive stock options 118,000 164,000 125,000 163,000 Diluted shares outstanding 14,719,000 14,705,000 14,717,000 14,704,000 Basic: Net earnings per share $ 0.30 $ 0.17 $ 0.42 $ 0.70 Diluted: Net earnings per share $ 0.29 $ 0.17 $ 0.42 $ 0.69 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. The 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, 2020 were 250,000 and 257,000, respectively, which equates to 118,000 and 125,000 dilutive common stock equivalents, respectively. There were 7,000 weighted-average shares issuable upon the exercise of stock options, which were not included in the diluted earnings per share calculation for the quarter ended June 30, 2020 because they were anti-dilutive. The 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, 2019 were 317,000 and 317,000, respectively, which equates to 164,000 and 163,000 dilutive common stock equivalents, respectively. There were no anti-dilutive shares for the quarter end ed

Customers with 10% (or greater)

Customers with 10% (or greater) of Net Revenues	9 Months Ended
	Jun. 30, 2020
Risks and Uncertainties [Abstract]
Customers with 10% (or greater) of Net Revenues	Note 6 – Customers with 10% (or greater) of Net Revenues During the quarter ended June 30, 2020, three customers accounted for 16.5%, 13.3% and 12.6% of net revenues. During the nine months ended June 30, 2020, no customers accounted for 10% or more of net revenues. During the quarter ended June 30, 2019, one customer accounted for 20.3% of net revenues . Two other customers accounted for 10.5% and 10.1% of net revenues, respectively, for the nine months ended June 30, 2019.

Income Taxes

Income Taxes	9 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 7 – Income Taxes On December 22, 2017, the U.S. Tax Cuts and Jobs Act (the “Tax Reform Act”) was signed into law by President Donald Trump. The Tax Reform Act significantly lowered the U.S. corporate income tax rate from 35% to 21% effective January 1, 2018, while also repealing the deduction for domestic production activities for tax years beginning after December 31, 2017, implementing a territorial tax system and imposing repatriation tax on deemed repatriated earnings of foreign subsidiaries. U.S. GAAP requires that the impact of tax legislation be recognized in the period in which the law was enacted. On the condensed consolidated balance sheet as of June 30, 2020, deferred income taxes decreased $2.1 million as compared to September 30, 2019, reflecting payment of taxes due of $1.9 million on the filing of the Company’s Form 3115 with the Internal Revenue Service to reflect the revenue recognition method change to the percentage of completion method for tax purposes pursuant to Internal Revenue Code Sections 460 and 451(b). The Company’s income tax provision is based on management’s estimate of the effective tax rate for the full year. The tax provision in any period will be affected by, among other things, permanent, as well as temporary differences in the deductibility of certain items, in addition to changes in tax legislation. As a result, the Company may experience significant fluctuations in the effective book tax rate (that is, its tax expense divided by pre-tax

Revenue Recognition and Related

Revenue Recognition and Related Costs	9 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition and Related Costs	Note 8 – Revenue Recognition and Related Costs As discussed in Note 1, the Company adopted the provisions of ASU No. 2014-09 The following table disaggregates the Company’s net revenue by major source for the quarter and nine months ended June 30, 2020 and 2019: Quarter Ended June 30, Nine Months Ended June 30, 2020 2019 2020 2019 Equipment sales recognized over time $ 10,350,000 $ 7,844,000 $ 32,269,000 $ 36,203,000 Equipment sales recognized at a point in time 8,995,000 6,747,000 20,946,000 17,190,000 Parts and component sales 2,671,000 2,870,000 10,492,000 10,387,000 Freight revenue 822,000 1,312,000 2,926,000 2,744,000 Other 102,000 75,000 330,000 321,000 Net revenue $ 22,940,000 $ 18,848,000 $ 66,963,000 $ 66,845,000 Revenues from contracts with customers for the design, manufacture and sale of custom equipment are recognized over time when the performance obligation is satisfied by transferring control of the equipment. Control of the equipment transfers over time as the equipment is unique to the specific contract and thus does not create an asset with an alternative use to the Company. Revenues and costs are recognized in proportion to actual labor costs incurred, as compared with total estimated labor costs expected to be incurred, during the entire contract. All incremental costs related to obtaining a contract are expensed as incurred as the amortization period is less than one year. Changes to total estimated contract costs or losses, if any, are recognized in the period in which they are determined. Contract assets (excluding accounts receivable) under contracts with customers represent revenue recognized in excess of amounts billed on equipment sales recognized over time. These contract assets were $10,064,000 at June 30, 2020 and $13,838,000 at September 30, 2019 and are included in current assets as costs and estimated earnings in excess of billings on the Company’s condensed consolidated balance sheets at June 30, 2020 and September 30, 2019, respectively. The Company anticipates that all these contract assets at June 30, 2020, will be billed and collected within one year. Revenues from all other contracts for the design and manufacture of equipment, for service and for parts sales, net of any discounts and return allowances, are recorded at a point in time when control of the goods or services has been transferred. Control of the goods or service typically transfers at time of shipment or upon completion of the service. Payment for equipment under contract with customers is typically due prior to shipment. Payment for services under contract with customers is due as certain milestones are completed. Accounts receivable related to contracts with customers for equipment sales was $281,000 at June 30, 2020 and $301,000 at September 30, 2019. Product warranty costs are estimated using historical experience and known issues and are charged to production costs as revenue is recognized. Provisions for estimated returns and allowances and other adjustments are provided for in the same period the related sales are recorded. Returns and allowances, which reduce product revenue, are estimated using historical experience. Under certain contracts with customers, recognition of a portion of the consideration received may be deferred and recorded as a contract liability if the Company has to satisfy a future obligation, such as to provide installation assistance. There were no contract liabilities other than customer deposits at June 30, 2020 and September 30, 2019. Customer deposits related to contracts with customers were $2,651,000 at June 30, 2020 and $1,918,000 at September 30, 2019, and are included in current liabilities on the Company’s condensed consolidated balance sheets at June 30, 2020 and September 30, 2019, respectively. The Company records revenues earned for shipping and handling as freight revenue at the time of shipment, regardless of whether or not it is identified as a separate performance obligation. The cost of shipping and handling is classified as production costs concurrently with the revenue recognition.

Subsequent Events

Subsequent Events	9 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Note 9 – Subsequent Events On July 31, 2020 Gencor announced that it has signed an agreement to acquire the Blaw-Knox paver business and associated assets from Volvo CE. The Blaw-Knox business, name, and associated assets will transfer to Gencor, including the manufacturing production line currently located at Shippensburg Pennsylvania. The proposed deal, which is expected to be finalized in Gencor’s first quarter of fiscal 2021, will allow Gencor to manufacture and develop Volvo CE’s current North American paver product line under the Blaw-Knox brand. Gencor is expected to continue marketing and servicing the Blaw-Knox paver line through selected Volvo CE dealers.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Accounting Pronouncements and Policies	Recent Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers 2014-09”), 2014-09 2014-09 In February 2016, the FASB issued ASU No. 2016-02, Leases must In May 2017, the FASB issued ASU 2017-09, Compensation - Stock Compensation Scope of Modification Accounting 2017-09”). 2017-09 2017-09 2017-09 No other accounting pronouncements recently issued or newly effective have had, or are expected to have, a material impact on the Company’s consolidated financial statements.
Marketable Securities	Marketable debt and equity securities are categorized as trading securities and are thus
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, mutual funds, exchange-traded funds, government securities, and cash and money funds 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, if any, 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, 2020: Fair Value Measurements Level 1 Level 2 Level 3 Total Equities $ 12,089,000 $ — $ — $ 12,089,000 Mutual Funds 3,983,000 — — 3,983,000 Exchange-Traded Funds 7,140,000 — — 7,140,000 Corporate Bonds — 38,058,000 — 38,058,000 Government Securities 33,789,000 — — 33,789,000 Cash and Money Funds 10,616,000 — — 10,616,000 $ 67,617,000 $ 38,058,000 $ — $ 105,675,000 Changes in net unrealized gains and (losses) included in the condensed consolidated statements of income for the quarter and nine months ended June 30, 2020, were $ ( ) The following table sets forth by level, within the fair value hierarchy, the Company’s assets measured at fair value as of September 30, 2019: Fair Value Measurements Level 1 Level 2 Level 3 Total Equities $ 10,412,000 $ — $ — $ 10,412,000 Mutual Funds 3,987,000 — — 3,987,000 Exchange-Traded Funds 5,163,000 — — 5,163,000 Corporate Bonds — 38,690,000 — 38,690,000 Government Securities 45,171,000 — — 45,171,000 Cash and Money Funds 1,899,000 — — 1,899,000 $ 66,632,000 $ 38,690,000 $ — $ 105,322,000 Changes in net unrealized gains and (losses) included in the condensed consolidated statements of income for the quarter and nine months ended June 30, 2019, were $3,979,000 and $(857,000), respectively. There were no transfers of investments between Level 1 and Level 2 during the nine months ended June 30, 2019. 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 are valued at the lower of cost or net realizable value. Net realizable value is defined as the estimated selling price of goods less reasonable costs of completion and delivery. During the fourth quarter of fiscal 2019, the Company changed its method for accounting for cost of inventories from the last-in, first-out first-in, first-out The fiscal 2018 consolidated financial statements were retrospectively adjusted to apply the new method of FIFO cost accounting for inventories. The cumulative effect of this change on periods prior to those presented herein resulted in an increase in retained earnings of $2,708,000. There was no material impact to the previously reported unaudited interim fiscal 2018 quarterly condensed consolidated results of operations or statements of income as a result of the retrospective application of the change in inventory accounting principle. 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 adjustments 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 three four
Earnings per Share	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, 2020 and 2019: Quarter Ended June 30, Nine Months Ended 2020 2019 2020 2019 Net Income $ 4,322,000 $ 2,444,000 $ 6,156,000 $ 10,217,000 Common Shares: Weighted average common shares outstanding 14,601,000 14,541,000 14,592,000 14,541,000 Effect of dilutive stock options 118,000 164,000 125,000 163,000 Diluted shares outstanding 14,719,000 14,705,000 14,717,000 14,704,000 Basic: Net earnings per share $ 0.30 $ 0.17 $ 0.42 $ 0.70 Diluted: Net earnings per share $ 0.29 $ 0.17 $ 0.42 $ 0.69 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. The 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, 2020 were 250,000 and 257,000, respectively, which equates to 118,000 and 125,000 dilutive common stock equivalents, respectively. There were 7,000 weighted-average shares issuable upon the exercise of stock options, which were not included in the diluted earnings per share calculation for the quarter ended June 30, 2020 because they were anti-dilutive. The 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, 2019 were 317,000 and 317,000, respectively, which equates to 164,000 and 163,000 dilutive common stock equivalents, respectively. There were no anti-dilutive shares for the quarter end ed
Income Taxes	Income Taxes On December 22, 2017, the U.S. Tax Cuts and Jobs Act (the “Tax Reform Act”) was signed into law by President Donald Trump. The Tax Reform Act significantly lowered the U.S. corporate income tax rate from 35% to 21% effective January 1, 2018, while also repealing the deduction for domestic production activities for tax years beginning after December 31, 2017, implementing a territorial tax system and imposing repatriation tax on deemed repatriated earnings of foreign subsidiaries. U.S. GAAP requires that the impact of tax legislation be recognized in the period in which the law was enacted. On the condensed consolidated balance sheet as of June 30, 2020, deferred income taxes decreased $2.1 million as compared to September 30, 2019, reflecting payment of taxes due of $1.9 million on the filing of the Company’s Form 3115 with the Internal Revenue Service to reflect the revenue recognition method change to the percentage of completion method for tax purposes pursuant to Internal Revenue Code Sections 460 and 451(b). The Company’s income tax provision is based on management’s estimate of the effective tax rate for the full year. The tax provision in any period will be affected by, among other things, permanent, as well as temporary differences in the deductibility of certain items, in addition to changes in tax legislation. As a result, the Company may experience significant fluctuations in the effective book tax rate (that is, its tax expense divided by pre-tax
Revenue Recognition and Related Costs	Revenue Recognition and Related Costs As discussed in Note 1, the Company adopted the provisions of ASU No. 2014-09 The following table disaggregates the Company’s net revenue by major source for the quarter and nine months ended June 30, 2020 and 2019: Quarter Ended June 30, Nine Months Ended June 30, 2020 2019 2020 2019 Equipment sales recognized over time $ 10,350,000 $ 7,844,000 $ 32,269,000 $ 36,203,000 Equipment sales recognized at a point in time 8,995,000 6,747,000 20,946,000 17,190,000 Parts and component sales 2,671,000 2,870,000 10,492,000 10,387,000 Freight revenue 822,000 1,312,000 2,926,000 2,744,000 Other 102,000 75,000 330,000 321,000 Net revenue $ 22,940,000 $ 18,848,000 $ 66,963,000 $ 66,845,000 Revenues from contracts with customers for the design, manufacture and sale of custom equipment are recognized over time when the performance obligation is satisfied by transferring control of the equipment. Control of the equipment transfers over time as the equipment is unique to the specific contract and thus does not create an asset with an alternative use to the Company. Revenues and costs are recognized in proportion to actual labor costs incurred, as compared with total estimated labor costs expected to be incurred, during the entire contract. All incremental costs related to obtaining a contract are expensed as incurred as the amortization period is less than one year. Changes to total estimated contract costs or losses, if any, are recognized in the period in which they are determined. Contract assets (excluding accounts receivable) under contracts with customers represent revenue recognized in excess of amounts billed on equipment sales recognized over time. These contract assets were $10,064,000 at June 30, 2020 and $13,838,000 at September 30, 2019 and are included in current assets as costs and estimated earnings in excess of billings on the Company’s condensed consolidated balance sheets at June 30, 2020 and September 30, 2019, respectively. The Company anticipates that all these contract assets at June 30, 2020, will be billed and collected within one year. Revenues from all other contracts for the design and manufacture of equipment, for service and for parts sales, net of any discounts and return allowances, are recorded at a point in time when control of the goods or services has been transferred. Control of the goods or service typically transfers at time of shipment or upon completion of the service. Payment for equipment under contract with customers is typically due prior to shipment. Payment for services under contract with customers is due as certain milestones are completed. Accounts receivable related to contracts with customers for equipment sales was $281,000 at June 30, 2020 and $301,000 at September 30, 2019. Product warranty costs are estimated using historical experience and known issues and are charged to production costs as revenue is recognized. Provisions for estimated returns and allowances and other adjustments are provided for in the same period the related sales are recorded. Returns and allowances, which reduce product revenue, are estimated using historical experience. Under certain contracts with customers, recognition of a portion of the consideration received may be deferred and recorded as a contract liability if the Company has to satisfy a future obligation, such as to provide installation assistance. There were no contract liabilities other than customer deposits at June 30, 2020 and September 30, 2019. Customer deposits related to contracts with customers were $2,651,000 at June 30, 2020 and $1,918,000 at September 30, 2019, and are included in current liabilities on the Company’s condensed consolidated balance sheets at June 30, 2020 and September 30, 2019, respectively. The Company records revenues earned for shipping and handling as freight revenue at the time of shipment, regardless of whether or not it is identified as a separate performance obligation. The cost of shipping and handling is classified as production costs concurrently with the revenue recognition.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Net Inventories	Net inventories at June 30, 2020 and September 30, 2019 consist of the following: June 30, September 30, Raw materials $ 15,090,000 $ 14,158,000 Work in process 580,000 1,397,000 Finished goods 8,852,000 9,811,000 Used equipment 40,000 — $ 24,562,000 $ 25,366,000

Costs and Estimated Earnings _2

Costs and Estimated Earnings in Excess of Billings (Tables)	9 Months Ended
	Jun. 30, 2020
Text Block [Abstract]
Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts	Costs and estimated earnings in excess of billings on uncompleted contracts as of June 30, 2020 and September 30, 2019 consist of the following: June 30, September 30, Costs incurred on uncompleted contracts $ 13,792,000 $ 18,707,000 Estimated earnings 5,555,000 9,063,000 19,347,000 27,770,000 Billings to date 9,283,000 13,932,000 Costs and estimated earnings in excess of billings $ 10,064,000 $ 13,838,000

Marketable Securities and Fai_2

Marketable Securities and Fair Value Measurements (Tables)	9 Months Ended
	Jun. 30, 2020
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, 2020: Fair Value Measurements Level 1 Level 2 Level 3 Total Equities $ 12,089,000 $ — $ — $ 12,089,000 Mutual Funds 3,983,000 — — 3,983,000 Exchange-Traded Funds 7,140,000 — — 7,140,000 Corporate Bonds — 38,058,000 — 38,058,000 Government Securities 33,789,000 — — 33,789,000 Cash and Money Funds 10,616,000 — — 10,616,000 $ 67,617,000 $ 38,058,000 $ — $ 105,675,000 The following table sets forth by level, within the fair value hierarchy, the Company’s assets measured at fair value as of September 30, 2019: Fair Value Measurements Level 1 Level 2 Level 3 Total Equities $ 10,412,000 $ — $ — $ 10,412,000 Mutual Funds 3,987,000 — — 3,987,000 Exchange-Traded Funds 5,163,000 — — 5,163,000 Corporate Bonds — 38,690,000 — 38,690,000 Government Securities 45,171,000 — — 45,171,000 Cash and Money Funds 1,899,000 — — 1,899,000 $ 66,632,000 $ 38,690,000 $ — $ 105,322,000

Earnings per Share Data (Tables

Earnings per Share Data (Tables)	9 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Basic and Diluted Earnings 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, 2020 and 2019: Quarter Ended June 30, Nine Months Ended 2020 2019 2020 2019 Net Income $ 4,322,000 $ 2,444,000 $ 6,156,000 $ 10,217,000 Common Shares: Weighted average common shares outstanding 14,601,000 14,541,000 14,592,000 14,541,000 Effect of dilutive stock options 118,000 164,000 125,000 163,000 Diluted shares outstanding 14,719,000 14,705,000 14,717,000 14,704,000 Basic: Net earnings per share $ 0.30 $ 0.17 $ 0.42 $ 0.70 Diluted: Net earnings per share $ 0.29 $ 0.17 $ 0.42 $ 0.69

Revenue Recognition and Relat_2

Revenue Recognition and Related Costs (Tables)	9 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Company's Net Revenue by Major Source	The following table disaggregates the Company’s net revenue by major source for the quarter and nine months ended June 30, 2020 and 2019: Quarter Ended June 30, Nine Months Ended June 30, 2020 2019 2020 2019 Equipment sales recognized over time $ 10,350,000 $ 7,844,000 $ 32,269,000 $ 36,203,000 Equipment sales recognized at a point in time 8,995,000 6,747,000 20,946,000 17,190,000 Parts and component sales 2,671,000 2,870,000 10,492,000 10,387,000 Freight revenue 822,000 1,312,000 2,926,000 2,744,000 Other 102,000 75,000 330,000 321,000 Net revenue $ 22,940,000 $ 18,848,000 $ 66,963,000 $ 66,845,000

Marketable Securities and Fai_3

Marketable Securities and Fair Value Measurements - Company's Assets Measured at Fair Value (Detail) - USD ($)	Jun. 30, 2020	Sep. 30, 2019
Investment Holdings [Line Items]
Total	$ 105,675,000	$ 105,322,000
Equities [Member]
Investment Holdings [Line Items]
Total	12,089,000	10,412,000
Mutual Funds [Member]
Investment Holdings [Line Items]
Total	3,983,000	3,987,000
Exchange Traded Funds [Member]
Investment Holdings [Line Items]
Total	7,140,000	5,163,000
Corporate Bonds [Member]
Investment Holdings [Line Items]
Total	38,058,000	38,690,000
Government Securities [Member]
Investment Holdings [Line Items]
Total	33,789,000	45,171,000
Cash and Money Funds [Member]
Investment Holdings [Line Items]
Total	10,616,000	1,899,000
Level 1 [Member]
Investment Holdings [Line Items]
Total	67,617,000	66,632,000
Level 1 [Member] | Equities [Member]
Investment Holdings [Line Items]
Total	12,089,000	10,412,000
Level 1 [Member] | Mutual Funds [Member]
Investment Holdings [Line Items]
Total	3,983,000	3,987,000
Level 1 [Member] | Exchange Traded Funds [Member]
Investment Holdings [Line Items]
Total	7,140,000	5,163,000
Level 1 [Member] | Government Securities [Member]
Investment Holdings [Line Items]
Total	33,789,000	45,171,000
Level 1 [Member] | Cash and Money Funds [Member]
Investment Holdings [Line Items]
Total	10,616,000	1,899,000
Level 2 [Member]
Investment Holdings [Line Items]
Total	38,058,000	38,690,000
Level 2 [Member] | Corporate Bonds [Member]
Investment Holdings [Line Items]
Total	38,058,000	$ 38,690,000
Level 3 [Member]
Investment Holdings [Line Items]
Total	$ 0

Marketable Securities and Fai_4

Marketable Securities and Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Marketable Securities [Line Items]
Changes in net unrealized gains and (losses)	$ 857,000	$ 3,979,000	$ 3,979,000	$ 857,000
Transfers of investments between Level 1 and Level 2	$ 0	$ 0	$ 0	$ 0

Inventories - Net Inventories (

Inventories - Net Inventories (Detail) - USD ($)	Jun. 30, 2020	Sep. 30, 2019
Inventory, Net [Abstract]
Raw materials	$ 15,090,000	$ 14,158,000
Work in process	580,000	1,397,000
Finished goods	8,852,000	9,811,000
Used equipment	40,000
Inventories, net	$ 24,562,000	$ 25,366,000

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($)	9 Months Ended
	Jun. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Inventory [Line Items]
Slow moving and obsolete inventory reserve	$ 4,569,000	$ 4,700,000
Cumulative impact of change in accounting method inventory	$ 148,053,000	$ 141,897,000
Three to Four Years Old Inventory [Member]
Inventory [Line Items]
Cost basis reduction in inventory, percentage	50.00%
Inventory, minimum time period on the shelf, years	3 years
Inventory, maximum 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%
Inventory, minimum time period on the shelf, years	4 years
Inventory, maximum time period on the shelf, years	5 years
Greater Than Five Years Old Inventory [Member]
Inventory [Line Items]
Inventory, minimum time period on the shelf, years	5 years
Inventory valuation estimate	$ 0
Provisions on obsolescence	$ 0
Inventory Valuation Adjustment [Member]
Inventory [Line Items]
Cumulative impact of change in accounting method inventory			$ 2,708,000

Costs and Estimated Earnings _3

Costs and Estimated Earnings in Excess of Billings - Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts (Detail) - USD ($)	Jun. 30, 2020	Sep. 30, 2019
Costs in Excess of Billings on Uncompleted Contracts or Programs [Abstract]
Costs incurred on uncompleted contracts	$ 13,792,000	$ 18,707,000
Estimated earnings	5,555,000	9,063,000
Costs and estimated earnings on uncompleted contracts	19,347,000	27,770,000
Billings to date	9,283,000	13,932,000
Costs and estimated earnings in excess of billings	$ 10,064,000	$ 13,838,000

Earnings per Share Data - Basic

Earnings per Share Data - Basic and Diluted Earnings Per Share (Detail) - USD ($)	3 Months Ended									9 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019		Mar. 31, 2019	[1]	Dec. 31, 2018	[1]	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net Income	$ 4,322,000	$ (655,000)	$ 2,489,000	$ 2,444,000	[1]	$ 7,460,000		$ 313,000		$ 6,156,000	$ 10,217,000
Common Shares:
Weighted average common shares outstanding	14,601,000			14,541,000						14,592,000	14,541,000
Effect of dilutive stock options	118,000			164,000						125,000	163,000
Diluted shares outstanding	14,719,000			14,705,000						14,717,000	14,704,000
Basic:
Net earnings per share	$ 0.30			$ 0.17						$ 0.42	$ 0.70
Diluted:
Net earnings per share	$ 0.29			$ 0.17						$ 0.42	$ 0.69
[1]	The balances as of September 30, 2018, December 31, 2018, March 31, 2019 and June 30, 2019, and the amounts for the quarter and nine months ended June 30, 2019, have been adjusted to reflect the change in inventory accounting method, as described in Note 3 to the Condensed Consolidated Financial Statements.

Earnings Per Share Data - Addit

Earnings Per Share Data - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Exercisable stock options, included in the diluted earnings per share calculation	250,000	317,000	257,000	317,000
Effect of dilutive stock options	118,000	164,000	125,000	163,000
Inclusive Of Diluted Earning [Member]
Exercisable stock options, included in the diluted earnings per share calculation			7,000
Effect of dilutive stock options	7,000
Anti-dilutive shares	0	0	0	0

Customers with 10% (or greate_2

Customers with 10% (or greater) of Net Revenues - Additional information (Detail) - Revenue [Member]	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Percentage of concentration			10.00%
Customer One [Member]
Percentage of concentration	16.50%	20.30%
Customer Two [Member]
Percentage of concentration	13.30%			10.50%
Customer Three [Member]
Percentage of concentration	12.60%			10.10%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
IncomeTaxes [Line Items]
U.S. corporate income tax rate	21.00%	35.00%
Adjustments to deferred income taxes				$ 2,066,000	$ 25,000
Increase decrease in accounts payable and accrued expenses			$ 1,900,000
Internal Revenue Service (IRS) [Member]
IncomeTaxes [Line Items]
Adjustments to deferred income taxes				$ 2,100,000

Revenue Recognition and Relat_3

Revenue Recognition and Related Costs - Disaggregation of Company's Net Revenue by Major Source (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Net revenue	$ 22,940,000	$ 18,848,000	$ 66,963,000	$ 66,845,000
Equipment Sales [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Net revenue	10,350,000	7,844,000	32,269,000	36,203,000
Equipment Sales [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Net revenue	8,995,000	6,747,000	20,946,000	17,190,000
Parts and Component Sales [Member]
Disaggregation of Revenue [Line Items]
Net revenue	2,671,000	2,870,000	10,492,000	10,387,000
Freight Revenue [Member]
Disaggregation of Revenue [Line Items]
Net revenue	822,000	1,312,000	2,926,000	2,744,000
Other [Member]
Disaggregation of Revenue [Line Items]
Net revenue	$ 102,000	$ 75,000	$ 330,000	$ 321,000

Revenue Recognition and Relat_4

Revenue Recognition and Related Costs - Additional Information (Detail) - USD ($)	9 Months Ended
	Jun. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Amortization period for incremental costs	1 year
Costs and estimated earnings in excess of billings	$ 10,064,000	$ 13,838,000
Accounts receivable related to contracts with customers	281,000	301,000
Current Liabilities [Member]
Disaggregation of Revenue [Line Items]
Customer deposits related to contracts with customers	$ 2,651,000	$ 1,918,000
Maximum [Member]
Disaggregation of Revenue [Line Items]
Contract assets collection period	1 year