Gencor Industries (GENC) 10-K 18 Dec 20 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Sep. 30, 2020	Dec. 11, 2020	Mar. 31, 2020
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
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 Annual Report	true
Document Transition Report	false
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-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
Entity Public Float			$ 109,937,000
ICFR Auditor Attestation Flag	false
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

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Current assets:
Cash and cash equivalents	$ 35,584,000	$ 10,302,000
Marketable securities at fair value (cost of $89,514,000 at September 30, 2020 and $104,176,000 at September 30, 2019)	89,498,000	105,322,000
Accounts receivable, less allowance for doubtful accounts of $442,000 at September 30, 2020 and $459,000 at September 30, 2019	1,992,000	1,603,000
Costs and estimated earnings in excess of billings	6,405,000	13,838,000
Inventories, net	27,090,000	25,366,000
Prepaid expenses	1,189,000	499,000
Total current assets	161,758,000	156,930,000
Property and equipment, net	8,341,000	8,389,000
Other long-term assets	995,000	53,000
Total Assets	171,094,000	165,372,000
Current liabilities:
Accounts payable	1,728,000	1,907,000
Customer deposits	3,853,000	1,918,000
Accrued expenses	2,605,000	2,660,000
Current operating lease liabilities	328,000
Total current liabilities	8,514,000	6,485,000
Deferred and other income taxes	746,000	3,372,000
Non-current operating lease liabilities	614,000
Total liabilities	9,874,000	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	12,331,000	12,159,000
Retained earnings	147,428,000	141,897,000
Total shareholders' equity	161,220,000	155,515,000
Total Liabilities and Shareholders' Equity	171,094,000	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

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Marketable securities, cost	$ 89,514,000	$ 104,176,000
Accounts receivable, allowance for doubtful accounts	$ 442,000	$ 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

Consolidated Income Statements

Consolidated Income Statements - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Net revenue	$ 77,420,000	$ 81,329,000
Cost of goods sold	58,467,000	58,917,000
Gross profit	18,953,000	22,412,000
Operating expenses:
Product engineering and development	3,061,000	3,295,000
Selling, general and administrative	10,356,000	9,647,000
Total operating expenses	13,417,000	12,942,000
Operating income	5,536,000	9,470,000
Other income (expense), net:
Interest and dividend income, net of fees	2,321,000	2,307,000
Realized and unrealized gains (losses) on marketable securities, net	(1,160,000)	1,047,000
Other	(16,000)
Other income (expense),net	1,145,000	3,354,000
Income before income tax expense	6,681,000	12,824,000
Income tax expense	1,150,000	2,628,000
Net income	$ 5,531,000	$ 10,196,000
Basic earnings per common share	$ 0.38	$ 0.70
Diluted earnings per common share	$ 0.38	$ 0.69

Consolidated Statements of Shar

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	[1]	$ 145,017,000	$ 11,862,000	$ 131,701,000	$ 1,225,000	$ 229,000
Beginning balance, shares at Sep. 30, 2018	[1]				12,252,337	2,288,857
Net income		10,196,000		10,196,000
Stock-based compensation		71,000	71,000
Stock options exercised		$ 231,000	226,000		$ 3,000	$ 2,000
Stock options exercised, shares		45,000			25,000	20,000
Ending balance at Sep. 30, 2019		$ 155,515,000	12,159,000	141,897,000	$ 1,228,000	$ 231,000
Ending balance, shares at Sep. 30, 2019					12,277,337	2,308,857
Net income		5,531,000		5,531,000
Stock-based compensation		71,000	71,000
Stock options exercised		$ 103,000	101,000		$ 1,000	$ 1,000
Stock options exercised, shares		20,000			10,000	10,000
Ending balance at Sep. 30, 2020		$ 161,220,000	$ 12,331,000	$ 147,428,000	$ 1,229,000	$ 232,000
Ending balance, shares at Sep. 30, 2020					12,287,337	2,318,857
[1]	The balances as of September 30, 2018, have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 2 to the Consolidated Financial Statements.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net income	$ 5,531,000	$ 10,196,000
Adjustments to reconcile net income to cash provided by operating activities:
Purchase of marketable securities	(131,635,000)	(188,066,000)
Proceeds from sale and maturity of marketable securities	146,122,000	188,047,000
Change in value of marketable securities	1,337,000	(1,245,000)
Deferred and other income taxes	(2,626,000)	732,000
Depreciation and amortization	1,643,000	1,600,000
Provision for doubtful accounts	50,000	175,000
Loss on disposal of assets		4,000
Stock-based compensation	71,000	71,000
Changes in assets and liabilities:
Accounts receivable	(439,000)	(785,000)
Costs and estimated earnings in excess of billings	7,433,000	(1,938,000)
Inventories	(1,724,000)	(3,476,000)
Prepaid expenses	(690,000)	849,000
Accounts payable	(179,000)	69,000
Customer deposits	1,935,000	(2,645,000)
Accrued expenses	(55,000)	575,000
Total adjustments	21,243,000	(6,033,000)
Cash flows provided by operating activities	26,774,000	4,163,000
Cash flows from investing activities:
Capital expenditures	(1,595,000)	(2,104,000)
Cash flows used in investing activities	(1,595,000)	(2,104,000)
Cash flows from financing activities:
Proceeds from stock option exercises	103,000	231,000
Cash flows provided by financing activities	103,000	231,000
Net increase in cash and cash equivalents	25,282,000	2,290,000
Cash and cash equivalents at:
Beginning of year	10,302,000	8,012,000
End of year	35,584,000	$ 10,302,000
Non-cash investing and financing activities:
Operating lease right-of-use assets	942,000
Operating lease liabilities	$ 942,000

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	12 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Summary of Significant Accounting Policies	NOTE 1 - NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Gencor Industries, Inc. and its subsidiaries (collectively, the “Company”) is a diversified, heavy machinery manufacturer for the production of highway construction materials and environmental control machinery and equipment. These consolidated financial statements include the accounts of Gencor Industries, Inc. and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Accounting Pronouncements and Policies 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 2016-02”). right-of-use 2016-02 The Company adopted ASU 2016-02 in the first quarter of fiscal 2020. The initial adoption of ASU 2016-02 did not have a significant impact on its consolidated financial statements. During the fourth quarter of fiscal 2020, the Company entered into a new operating lease which resulted in reporting a right-of-use (“ROU”) asset and related lease liabilities of approximately $970,000 (see Note 9 – Leases) . 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. Use of Estimates The preparation of the consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Earnings per Share The consolidated financial statements include basic and diluted earnings per share (“EPS”) information. Basic EPS is based on the weighted-average number of shares outstanding. Diluted EPS is 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 EPS calculation at September 30, 2020 were 256,000, which equates to 125,000 dilutive common stock equivalents. For the year ended September 30, 2019, the weighted-average shares issuable upon the exercise of stock options included in the diluted EPS calculation were 307,000, which equates to 157,000 dilutive common stock equivalents. Weighted-average shares issuable upon the exercise of stock options, which were not included in the diluted EPS calculation because they were anti-dilutive, were 7,000 in 2020 and zero in 2019. The following presents the calculation of the basic and diluted EPS for the years ended September 30, 2020 and 2019: 2020 2019 Net Income Shares EPS Net Income Shares EPS Basic EPS $ 5,531,000 14,595,000 $ 0.38 $ 10,196,000 14,551,000 $ 0.70 Common stock equivalents 125,000 157,000 Diluted EPS $ 5,531,000 14,720,000 $ 0.38 $ 10,196,000 14,708,000 $ 0.69 Cash Equivalents Cash equivalents consist of short-term certificates of deposit and deposits in money market accounts with original maturities of three months or less. Marketable Securities and Fair Value Measurements 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 income statements. Net changes in unrealized gains and losses are reported in the consolidated income statements in the current 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 (stocks), mutual funds, exchange-traded funds, government securities, and cash and money funds, are substantially based on quoted market prices (Level 1). Corporate bonds are valued using market standard valuation methodologies, including: discounted cash flow methodologies, and 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 firms. From time to time the Company may transfer cash between its marketable securities portfolio and operating cash and cash equivalents. The following table sets forth by level, within the fair value hierarchy, the Company’s assets measured at fair value as of September 30, 2020: Fair Value Measurements Level 1 Level 2 Level 3 Total Equities $ 11,949,000 $ — $ — $ 11,949,000 Mutual Funds 9,595,000 — — 9,595,000 Exchange-Traded Funds 10,344,000 — — 10,344,000 Corporate Bonds — 27,877,000 — 27,877,000 Government Securities 16,147,000 — — 16,147,000 Cash and Money Funds 13,586,000 — — 13,586,000 Total $ 61,621,000 $ 27,877,000 $ — $ 89,498,000 Net unrealized losses reported during fiscal 2020 on trading securities still held as of September 30, 2020, were $(1,091,000). There were no transfers of investments between Level 1 and Level 2 during the year ended September 30, 2020. In the fourth quarter of fiscal 2020, the Company liquidated approximately $17.0 million of its investments. The cash was used to fund the acquisition of the Blaw-Knox paver business and associated assets, including inventory, fixed assets and related intellectual property, from Volvo CE (see Note 12 - Subsequent Events for additional information). 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 Total $ 66,632,000 $ 38,690,000 $ — $ 105,322,000 Net unrealized gains reported during fiscal 2019 on trading securities still held as of September 30, 2019, were $737,000. There were no transfers of investments between Level 1 and Level 2 during the year ended September 30, 2019. In fiscal 2019, the Company transferred a net $2.0 million from the marketable securities portfolio to operating cash and cash equivalents. The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, customer deposits and accrued expenses approximate fair value because of the short-term nature of these items. Foreign Currency Transactions Gains and losses resulting from foreign currency transactions are included in income and were not significant during the years ended September 30, 2020 and 2019. Risk Management Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of cash and cash equivalents, marketable securities, and accounts receivable. The Company maintains its cash accounts in various domestic financial institutions which may from time to time exceed federally insured limits. Operating cash is retained overnight in non-interest-bearing accounts which allow for offsets to treasury service charges. The marketable securities include investments in cash and money funds, mutual funds, exchange traded funds (“ETF’s”), corporate bonds, government securities and stocks through professional investment management firms. Investment securities are exposed to various risks, such as interest rate, market and credit risks. The Company’s customers are not concentrated in any specific geographic region, but are concentrated in the road and highway construction industry. The Company extends limited credit on parts sales to its customers based upon their credit-worthiness. Generally, the Company requires a significant up-front deposit before beginning manufacturing on complete asphalt plant and component orders, and requires full payment subject to hold-back provisions prior to shipment. The Company establishes an allowance for doubtful accounts based upon the credit risk of specific customers, historical trends and other pertinent information. 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 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 an allowance is established to reduce three four Changes in the allowance for slow-moving and obsolete inventories are as follows: 2020 2019 Balance, beginning of year $ 4,700,000 $ 4,543,000 Charged to cost of sales 401,000 304,000 Disposal of inventory, net of recoveries (484,000 ) (147,000 ) Balance, end of year $ 4,617,000 $ 4,700,000 Property and Equipment Property and equipment are stated at cost (see Note 4). Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the related assets, as follows: Years Land improvements 15 Buildings & improvements 6-40 Equipment 2-10 Impairments Property and equipment, and intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset (or asset group) may not be recoverable. An impairment loss would be recognized when the carrying amount of an asset exceeds the estimated undiscounted cash flows expected to result from the use of the asset and its eventual disposition. The amount of the impairment loss to be recorded is calculated by the excess of the asset’s carrying value over its fair value. Fair value is generally determined using a discounted cash flow analysis. No such impairment losses were recorded during the years ended September 30, 2020 and 2019. Revenues and Expenses The Company adopted the provisions of ASU No. 2014-09 The following table disaggregates the Company’s net revenue by major source for the years ended September 30, 2020 and 2019: 2020 2019 Equipment sales recognized over time $ 35,579,000 $ 43,489,000 Equipment sales recognized at a point in time 23,642,000 19,987,000 Parts and component sales 13,896,000 13,356,000 Freight revenue 3,983,000 4,130,000 Other 320,000 367,000 Net revenue $ 77,420,000 $ 81,329,000 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 $6,405,000 and $13,838,000 at September 30, 2020 and 2019, respectively, and are included in current assets as costs and estimated earnings in excess of billings on the Company’s consolidated balance sheets. The Company anticipates that all of the contract assets at September 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 s Product warranty costs are estimated using historical experience and known issues and are charged to production costs as revenue is recognized. Changes in the accrual for warranty and related costs are composed of the following: 2020 2019 Balance, beginning of year $ 277,000 $ 400,000 Warranties issued 375,000 140,000 Warranties settled (353,000 ) (263,000 ) Balance, end of year $ 299,000 $ 277,000 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 September 30, 2020 and September 30, 2019. Customer deposits related to contracts with customers were $3,853,000 and $1,918,000 at September 30, 2020 and 2019, respectively, and are included in current liabilities on the Company’s consolidated balance sheets. 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. All product engineering and development costs, and selling, general and administrative expenses are charged to operations as incurred. Provision is made for any anticipated contract losses in the period that the loss becomes evident. The allowance for doubtful accounts is determined by performing a specific review of all account balances greater than 90 days past due and other higher risk amounts to determine collectability, and also adjusting for any known customer payment issues with account balances in the less-than-90-day Changes in the allowance for doubtful accounts are composed of the following: 2020 2019 Balance, beginning of year $ 459,000 $ 313,000 Provision for doubtful accounts 50,000 175,000 Provision for estimated returns and allowances 205,000 315,000 Uncollectible accounts written off (5,000 ) (71,000 ) Returns and allowances issued (267,000 ) (273,000 ) Balance, end of year $ 442,000 $ 459,000 Shipping and Handling Costs Shipping and handling costs are included in production costs in the consolidated income statements. Income Taxes Income taxes are provided for the tax effects of transactions reported in the consolidated financial statements and primarily consist of taxes currently due, plus deferred taxes (see Note 6 – Income Taxes). The Company recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the consolidated financial statements or tax returns using current tax rates. The Company and its domestic subsidiaries file a consolidated federal income tax return. Deferred tax assets and liabilities are measured using the rates expected to apply to taxable income in the years in which the temporary differences are expected to reverse and the credits are expected to be used. The effect on deferred tax assets and liabilities of the change in tax rates is recognized in income in the period that includes the enactment date. All available evidence, both positive and negative, is considered to determine whether, based on the weight of that evidence, the Company is more likely than not to realize the benefit of a deferred tax asset and whether a valuation allowance is needed for some portion or all of a deferred tax asset. No such valuation allowances were recorded as of September 30, 2020 and 2019. 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 Comprehensive Income For the years ended September 30, 2020 and 2019, other comprehensive income is equal to net income. Reporting Segments and Geographic Areas The Company has one reportable segment. For fiscal 2020 and 2019, total revenues of $77,420,000 and $81,329,000, and total long-term assets of $9,336,000 and $8,442,000, respectively, were attributed to the United States. Revenues are attributed to geographic areas based on the location of the assets producing the revenues. Customers with 10% (or greater) of Net Revenues No customer accounted for 10% or more of fiscal 2020 or 2019 net revenues. Subsequent Events Management has evaluated events occurring from September 30, 2020 through the date these consolidated financial statements were filed with the Securities and Exchange Commission for proper recording and disclosure herein. On October 1, 2020, the Company acquired the Blaw-Knox paver business and associated assets, including inventory, fixed assets and related intellectual property, (see Note 12 - Subsequent Events for additional information).

Inventories

Inventories	12 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventories	NOTE 2 - INVENTORIES Inventories are valued at the lower of cost or net realizable value. During the fourth quarter of fiscal 2019, the Company changed its method for accounting for cost of inventories from the LIFO method to the FIFO method. The Company believes the FIFO method improves financial reporting by better reflecting the current value of inventory on the consolidated balance sheets, by more closely aligning the flow of physical inventory with the accounting for the inventory, and by providing better matching of revenues and ex p Net inventories consist of the following: September 30, 2020 2019 Raw materials $ 14,607,000 $ 14,158,000 Work in process 3,633,000 1,397,000 Finished goods 8,810,000 9,811,000 Used equipment 40,000 — Inventories, net $ 27,090,000 $ 25,366,000 Slow-moving and obsolete inventory reserves were $4,617,000 and $4,700,000 at September 30, 2020 and 2019, respectively.

Costs and Estimated Earnings in

Costs and Estimated Earnings in Excess of Billings	12 Months Ended
	Sep. 30, 2020
Text Block [Abstract]
Costs and Estimated Earnings in Excess of Billings	NOTE 3 - COSTS AND ESTIMATED EARNINGS IN EXCESS OF BILLINGS Costs and estimated earnings in excess of billings on uncompleted contracts as of September 30, 2020 and 2019 consisted of the following: September 30, 2020 2019 Costs incurred on uncompleted contracts $ 10,390,000 $ 18,707,000 Estimated earnings 4,680,000 9,063,000 15,070,000 27,770,000 Billings to date 8,665,000 13,932,000 Costs and estimated earnings in excess of billings $ 6,405,000 $ 13,838,000

Property and Equipment

Property and Equipment	12 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	NOTE 4 - PROPERTY AND EQUIPMENT Property and equipment consist of the following as of September 30, 2020 and 2019: September 30, 2020 2019 Land and improvements $ 3,323,000 $ 3,323,000 Buildings and improvements 13,547,000 13,462,000 Equipment 16,305,000 14,809,000 33,175,000 31,594,000 Less: Accumulated depreciation and amortization (24,834,000 ) (23,205,000 ) Property and equipment, net $ 8,341,000 $ 8,389,000 Property and equipment includes approximately $14,300,000 and $12,866,000 of fully depreciated assets, which remained in service during fiscal 2020 and 2019, respectively.

Accrued Expenses

Accrued Expenses	12 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Accrued Expenses	NOTE 5 - ACCRUED EXPENSES Accrued expenses consist of the following as of September 30, 2020 and 2019: September 30, 2020 2019 Payroll and related accruals $ 1,608,000 $ 1,759,000 Warranty and related accruals 299,000 277,000 Professional fees 247,000 205,000 Income tax accruals 225,000 175,000 Other 226,000 244,000 Accrued expenses $ 2,605,000 $ 2,660,000

Income Taxes

Income Taxes	12 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 6 - INCOME TAXES The provision for income tax expense consists of: Year Ended September 30, 2020 2019 Current: Federal $ 3,430,000 $ 2,297,000 State 346,000 148,000 Total current 3,776,000 2,445,000 Deferred: Federal (2,436,000 ) 52,000 State (190,000 ) 131,000 Total deferred (2,626,000 ) 183,000 Income tax expense $ 1,150,000 $ 2,628,000 A reconciliation of the federal statutory tax rate to the total tax provision is as follows: Year Ended September 30, 2020 2019 Federal income taxes computed at the statutory rate 21.0 % 21.0 % State income taxes, net of federal benefit 1.3 % 1.6 % Research & development tax refunds & credits (6.3 %) (1.9 %) Dividend received deduction (1.2 %) (0.6 %) 263A Section 481(a) adjustment 1.5 % — Other, net 0.9 % 0.4 % Effective income tax rate 17.2 % 20.5 % Deferred income tax assets and liabilities consist of the following: September 30, 2020 2019 Deferred Tax Assets: Accrued liabilities and reserves $ 340,000 $ 344,000 Allowance for doubtful accounts 98,000 104,000 Inventory 369,000 98,000 Stock-based compensation 81,000 82,000 Net operating losses carryforwards 5,000 7,000 Gross Deferred Income Tax Assets 893,000 635,000 Deferred and Other Tax Liabilities: Domestic international sales corporation (329,000 ) (464,000 ) Percentage of completion — (2,048,000 ) Property and equipment (1,158,000 ) (1,080,000 ) Unrealized gain on investments (2,000 ) (265,000 ) Unrecognized tax benefits (150,000 ) (150,000 ) Gross Deferred and Other Income Tax Liabilities (1,639,000 ) (4,007,000 ) Net Deferred and Other Income Tax Assets (Liabilities) $ (746,000 ) $ (3,372,000 ) Total income taxes paid in fiscal 2020 and 2019 were $3,850,000 and $1,150,000, respectively. The fiscal 2020 income taxes paid includes $2,050,000 of tax payments due 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). GAAP prescribes a comprehensive model for the financial recognition, measurement, classification, and disclosure of two-step Significant judgment is required in evaluating the Company’s uncertain tax position and determining the Company’s provision for taxes. Although the Company believes the reserves of unrecognized tax benefits (“UTB’s”) are reasonable, no assurance can be given that the final outcome of these matters will not be different from that which is reflected in the Company’s historical income tax provision and accruals. The Company adjusts these reserves in light of changing facts and circumstances. As of September 30, 2020 and 2019, the Company had UTB’s of $150,000. There were no additional accruals of UTB’s during fiscal years ended September 30, 2020 and 2019. The Company recognizes interest and penalties accrued related to UTB’s as a component of income tax expense. There were no additional accruals of interest expense nor penalties during fiscal years ended September 30, 2020 and 2019. It is reasonably possible that the amount of the UTB’s with respect to certain unrecognized tax positions will increase or decrease during the next 12 months. The Company does not expect the change to have a material effect on its results of operations or its financial position. The only expected potential reason for change would be the ultimate results stemming from any examinations by taxing authorities. If recognized, the entire amount of UTB’s would have an impact on the Company’s effective income tax rate. The effective income tax rate for fiscal 2020 was 17.2% versus 20.5% in fiscal 2019. In fiscal 2019, the Company generated $241,000 of federal research and development credits (“R&D Credits”), all of which were used. In fiscal 2020, the Company generated $421,000 of R&D Credits, all of which were used. There were no R&D Credits carryforwards as of September 30, 2020. As of September 30, 2018, the Company had $87,000 in Florida state research and development tax credits (“Florida R&D Credits”) carryforwards. The Company did not receive any additional Florida R&D Credits in fiscal 2020 or fiscal 2019. The Company used the $87,000 of Florida R&D Credits carryforwards from fiscal 2018 in fiscal 2019. There were no Florida R&D Credits carryforwards at September 30, 2020. The Company files U.S. federal income tax returns, as well as Florida and Iowa income tax returns. The Company’s U.S. federal income tax returns filed for tax years prior to fiscal year ended September 30, 2017 are generally no longer subject to examination by taxing authorities due to the expiration of the statute of limitations.

Retirement Benefits

Retirement Benefits	12 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
Retirement Benefits	NOTE 7 - RETIREMENT BENEFITS The Company has a voluntary 401(k) employee benefit plan, which covers all eligible, domestic employees. The Company makes discretionary matching contributions subject to a maximum level, in accordance with the terms of the plan. The Company charged approximately $290,000 and $282,000 to expense under the provisions of the plan during the years ended September 30, 2020 and 2019, respectively.

Long-Term Debt and Arrangements

Long-Term Debt and Arrangements with Financial Institutions	12 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Long-Term Debt and Arrangements with Financial Institutions	NOTE 8 - LONG-TERM DEBT AND ARRANGEMENTS WITH FINANCIAL INSTITUTIONS The Company had no long-term debt outstanding at September 30, 2020 or 2019. The Company does not currently require a credit facility. As of September 30, 2020, total cash deposits with insurance companies covering collateral needs were $85,000. In April 2020, a financial institution issued an irrevocable standby letter of credit (“letter of credit”) on behalf of the Company for the benefit of one of the Company’s insurance carriers. The maximum amount that can be drawn by the beneficiary under the letter of credit is $150,000. The letter of credit expires in April 2021, unless terminated earlier, and can be extended, as provided by the agreement. The Company intends to renew the letter of credit for as long as the Company does business with the beneficiary insurance carrier. The letter is collateralized by restricted cash of the same amount on any outstanding drawings. To date, no amounts have been drawn under the letter of credit.

Leases

Leases	12 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	NOTE 9 - LEASES The Company leases certain equipment under non-cancelable operating leases. Future minimum rental payments under these leases at September 30, 2020 are immaterial. Total rental expense for the fiscal years ended September On August 28, 2020, the Company entered into a three ing paver business for additional information and related lease liabilities at inception. For the year ended September 30, 2020, operating lease cost was Other information concerning the Company’s operating lease accounted for under ASC 842 guidelines is as follows: As of September 30, 2020 Operating lease ROU asset included in other long-term assets $ 942,000 Current operating lease liability 328,000 Non-current operating lease liability 614,000 Weighted average remaining lease term (in years) 2.92 Weighted average discount rate used in calculating ROU 4.0 % Future annual minimum lease payments as of September 30, 2020 are as follows: Fiscal Year Annual Lease Payments 2021 $ 335,000 2022 343,000 2023 322,000 Total 1,000,000 Less interest (58,000 ) Present value of lease liabilities $ 942,000

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 10 - COMMITMENTS AND CONTINGENCIES Litigation The Company is involved in legal proceedings arising out of the normal course of business, none of which we believe will have a material adverse effect on our business, financial condition or results of operations. Claims made in the ordinary course of business may be covered in whole or in part by insurance. COVID-19 The Company continues to monitor and evaluate the risks to public health and the slowdown in overall business activity related to the novel coronavirus (“COVID-19”) COVID-19 COVID-19 the Company’s financi a COVID-19 COVID-19.

Shareholders' Equity and Stock-

Shareholders' Equity and Stock-Based Compensation	12 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Shareholders' Equity and Stock-Based Compensation	NOTE 11 - SHAREHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION Shareholders’ Equity Under the Company’s Certificate of Incorporation, as amended, certain rights of the holders of the Company’s common stock are modified by shares of Class B stock for as long as such shares shall remain outstanding. During that period, holders of common stock will have the right to elect approximately 25% of the Company’s Board of Directors, and conversely, holders of Class B stock will be entitled to elect approximately 75% of the Company’s Board of Directors. During the period when shares of common stock and Class B stock are outstanding, certain matters submitted to a vote of shareholders will also require approval of the holders of common stock and Class B stock, each voting separately as a class. Common stock and Class B shareholders have equal rights with respect to dividends, preferences, and rights, including rights in liquidation. Stock-Based Compensation On March 17, 2009, the shareholders of the Company approved the 2009 Incentive Compensation Plan (the “2009 Plan”). The 2009 Plan provides that the total number of shares of Company stock that may be subject to the granting of awards under the 2009 Plan (“Awards”) equals 800,000 shares of common stock and 160,000 shares of Class B stock , subject to adjustment pursuant to the terms of the 2009 Plan. Persons eligible to receive Awards under the 2009 Plan include employees, directors, consultants and other persons who provide services to the Company. The 2009 Plan imposes individual limitations on the amount of certain Awards, in part, to comply with Internal Revenue Code, Section 162(m). As of September 30, 2020 and 2019 issued under the 2009 Plan had been fully employees remain As of September 30, 2020 and 2019 issued under the 2009 Plan were fully vested and are exercisable through October 1, 2021 as long as the employee remains employed by the Company. In addition, 30,000 outstanding Class B stock options issued under the 2009 Plan were fully vested at September 30, 2020, and were 75% vested as of September 30, 2019, As of September 30, 2020, no options Th e 2009 Plan: Number of Average Options outstanding at September 30, 2018 317,492 $ 5.984 Options exercised during fiscal 2019 (45,000 ) $ 5.126 Options outstanding at September 30, 2019 272,492 $ 6.126 Options exercised during fiscal 2020 (20,000 ) $ 5.126 Options outstanding at September 30, 2020 252,492 $ 6.205 No options were granted, forfeited or cancelled during the years ended September 30, 2020 or September 30, 2019. The weighted average remaining contractual life on the options outstanding as of September 30, 2020 is

Subsequent Events

Subsequent Events	12 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	NOTE 12 - SUBSEQUENT EVENTS O n . The acquisition was accounted for as a business combination under ASC 805, “Business Combinations.” The purchase price of approximately $14.4 million, which is subject to post-closing adjustments, was funded by cash on hand. Due to COVID-19 constraints, as well as limited time since the acquisition date, the Company is still in the process of completing the initial accounting for the business combination. As a result, the specific amounts for the major classes of assets acquired are not provided. There were no liabilities assumed.

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Accounting Pronouncements and Policies	Accounting Pronouncements and Policies 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 2016-02”). right-of-use 2016-02 The Company adopted ASU 2016-02 in the first quarter of fiscal 2020. The initial adoption of ASU 2016-02 did not have a significant impact on its consolidated financial statements. During the fourth quarter of fiscal 2020, the Company entered into a new operating lease which resulted in reporting a right-of-use (“ROU”) asset and related lease liabilities of approximately $970,000 (see Note 9 – Leases) . 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.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Earnings per Share	Earnings per Share The consolidated financial statements include basic and diluted earnings per share (“EPS”) information. Basic EPS is based on the weighted-average number of shares outstanding. Diluted EPS is 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 EPS calculation at September 30, 2020 were 256,000, which equates to 125,000 dilutive common stock equivalents. For the year ended September 30, 2019, the weighted-average shares issuable upon the exercise of stock options included in the diluted EPS calculation were 307,000, which equates to 157,000 dilutive common stock equivalents. Weighted-average shares issuable upon the exercise of stock options, which were not included in the diluted EPS calculation because they were anti-dilutive, were 7,000 in 2020 and zero in 2019. The following presents the calculation of the basic and diluted EPS for the years ended September 30, 2020 and 2019: 2020 2019 Net Income Shares EPS Net Income Shares EPS Basic EPS $ 5,531,000 14,595,000 $ 0.38 $ 10,196,000 14,551,000 $ 0.70 Common stock equivalents 125,000 157,000 Diluted EPS $ 5,531,000 14,720,000 $ 0.38 $ 10,196,000 14,708,000 $ 0.69
Cash Equivalents	Cash Equivalents Cash equivalents consist of short-term certificates of deposit and deposits in money market accounts with original maturities of three months or less.
Marketable Securities and Fair Value Measurements	Marketable Securities and Fair Value Measurements 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 income statements. Net changes in unrealized gains and losses are reported in the consolidated income statements in the current 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 (stocks), mutual funds, exchange-traded funds, government securities, and cash and money funds, are substantially based on quoted market prices (Level 1). Corporate bonds are valued using market standard valuation methodologies, including: discounted cash flow methodologies, and 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 firms. From time to time the Company may transfer cash between its marketable securities portfolio and operating cash and cash equivalents. The following table sets forth by level, within the fair value hierarchy, the Company’s assets measured at fair value as of September 30, 2020: Fair Value Measurements Level 1 Level 2 Level 3 Total Equities $ 11,949,000 $ — $ — $ 11,949,000 Mutual Funds 9,595,000 — — 9,595,000 Exchange-Traded Funds 10,344,000 — — 10,344,000 Corporate Bonds — 27,877,000 — 27,877,000 Government Securities 16,147,000 — — 16,147,000 Cash and Money Funds 13,586,000 — — 13,586,000 Total $ 61,621,000 $ 27,877,000 $ — $ 89,498,000 Net unrealized losses reported during fiscal 2020 on trading securities still held as of September 30, 2020, were $(1,091,000). There were no transfers of investments between Level 1 and Level 2 during the year ended September 30, 2020. In the fourth quarter of fiscal 2020, the Company liquidated approximately $17.0 million of its investments. The cash was used to fund the acquisition of the Blaw-Knox paver business and associated assets, including inventory, fixed assets and related intellectual property, from Volvo CE (see Note 12 - Subsequent Events for additional information). 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 Total $ 66,632,000 $ 38,690,000 $ — $ 105,322,000 Net unrealized gains reported during fiscal 2019 on trading securities still held as of September 30, 2019, were $737,000. There were no transfers of investments between Level 1 and Level 2 during the year ended September 30, 2019. In fiscal 2019, the Company transferred a net $2.0 million from the marketable securities portfolio to operating cash and cash equivalents. The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, customer deposits and accrued expenses approximate fair value because of the short-term nature of these items.
Foreign Currency Transactions	Foreign Currency Transactions Gains and losses resulting from foreign currency transactions are included in income and were not significant during the years ended September 30, 2020 and 2019.
Risk Management	Risk Management Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of cash and cash equivalents, marketable securities, and accounts receivable. The Company maintains its cash accounts in various domestic financial institutions which may from time to time exceed federally insured limits. Operating cash is retained overnight in non-interest-bearing accounts which allow for offsets to treasury service charges. The marketable securities include investments in cash and money funds, mutual funds, exchange traded funds (“ETF’s”), corporate bonds, government securities and stocks through professional investment management firms. Investment securities are exposed to various risks, such as interest rate, market and credit risks. The Company’s customers are not concentrated in any specific geographic region, but are concentrated in the road and highway construction industry. The Company extends limited credit on parts sales to its customers based upon their credit-worthiness. Generally, the Company requires a significant up-front deposit before beginning manufacturing on complete asphalt plant and component orders, and requires full payment subject to hold-back provisions prior to shipment. The Company establishes an allowance for doubtful accounts based upon the credit risk of specific customers, historical trends and other pertinent information.
Inventories	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 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 an allowance is established to reduce three four Changes in the allowance for slow-moving and obsolete inventories are as follows: 2020 2019 Balance, beginning of year $ 4,700,000 $ 4,543,000 Charged to cost of sales 401,000 304,000 Disposal of inventory, net of recoveries (484,000 ) (147,000 ) Balance, end of year $ 4,617,000 $ 4,700,000
Property and Equipment	Property and Equipment Property and equipment are stated at cost (see Note 4). Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the related assets, as follows: Years Land improvements 15 Buildings & improvements 6-40 Equipment 2-10
Impairments	Impairments Property and equipment, and intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset (or asset group) may not be recoverable. An impairment loss would be recognized when the carrying amount of an asset exceeds the estimated undiscounted cash flows expected to result from the use of the asset and its eventual disposition. The amount of the impairment loss to be recorded is calculated by the excess of the asset’s carrying value over its fair value. Fair value is generally determined using a discounted cash flow analysis. No such impairment losses were recorded during the years ended September 30, 2020 and 2019.
Revenues and Expenses	Revenues and Expenses The Company adopted the provisions of ASU No. 2014-09 The following table disaggregates the Company’s net revenue by major source for the years ended September 30, 2020 and 2019: 2020 2019 Equipment sales recognized over time $ 35,579,000 $ 43,489,000 Equipment sales recognized at a point in time 23,642,000 19,987,000 Parts and component sales 13,896,000 13,356,000 Freight revenue 3,983,000 4,130,000 Other 320,000 367,000 Net revenue $ 77,420,000 $ 81,329,000 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 $6,405,000 and $13,838,000 at September 30, 2020 and 2019, respectively, and are included in current assets as costs and estimated earnings in excess of billings on the Company’s consolidated balance sheets. The Company anticipates that all of the contract assets at September 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 s Product warranty costs are estimated using historical experience and known issues and are charged to production costs as revenue is recognized. Changes in the accrual for warranty and related costs are composed of the following: 2020 2019 Balance, beginning of year $ 277,000 $ 400,000 Warranties issued 375,000 140,000 Warranties settled (353,000 ) (263,000 ) Balance, end of year $ 299,000 $ 277,000 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 September 30, 2020 and September 30, 2019. Customer deposits related to contracts with customers were $3,853,000 and $1,918,000 at September 30, 2020 and 2019, respectively, and are included in current liabilities on the Company’s consolidated balance sheets. 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. All product engineering and development costs, and selling, general and administrative expenses are charged to operations as incurred. Provision is made for any anticipated contract losses in the period that the loss becomes evident. The allowance for doubtful accounts is determined by performing a specific review of all account balances greater than 90 days past due and other higher risk amounts to determine collectability, and also adjusting for any known customer payment issues with account balances in the less-than-90-day Changes in the allowance for doubtful accounts are composed of the following: 2020 2019 Balance, beginning of year $ 459,000 $ 313,000 Provision for doubtful accounts 50,000 175,000 Provision for estimated returns and allowances 205,000 315,000 Uncollectible accounts written off (5,000 ) (71,000 ) Returns and allowances issued (267,000 ) (273,000 ) Balance, end of year $ 442,000 $ 459,000
Shipping and Handling Costs	Shipping and Handling Costs Shipping and handling costs are included in production costs in the consolidated income statements.
Income Taxes	Income Taxes Income taxes are provided for the tax effects of transactions reported in the consolidated financial statements and primarily consist of taxes currently due, plus deferred taxes (see Note 6 – Income Taxes). The Company recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the consolidated financial statements or tax returns using current tax rates. The Company and its domestic subsidiaries file a consolidated federal income tax return. Deferred tax assets and liabilities are measured using the rates expected to apply to taxable income in the years in which the temporary differences are expected to reverse and the credits are expected to be used. The effect on deferred tax assets and liabilities of the change in tax rates is recognized in income in the period that includes the enactment date. All available evidence, both positive and negative, is considered to determine whether, based on the weight of that evidence, the Company is more likely than not to realize the benefit of a deferred tax asset and whether a valuation allowance is needed for some portion or all of a deferred tax asset. No such valuation allowances were recorded as of September 30, 2020 and 2019. 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
Comprehensive Income	Comprehensive Income For the years ended September 30, 2020 and 2019, other comprehensive income is equal to net income.
Reporting Segments and Geographic Areas	Reporting Segments and Geographic Areas The Company has one reportable segment. For fiscal 2020 and 2019, total revenues of $77,420,000 and $81,329,000, and total long-term assets of $9,336,000 and $8,442,000, respectively, were attributed to the United States. Revenues are attributed to geographic areas based on the location of the assets producing the revenues.
Customers with 10% (or greater) of Net Revenues	Customers with 10% (or greater) of Net Revenues No customer accounted for 10% or more of fiscal 2020 or 2019 net revenues.
Subsequent Events	Subsequent Events Management has evaluated events occurring from September 30, 2020 through the date these consolidated financial statements were filed with the Securities and Exchange Commission for proper recording and disclosure herein. On October 1, 2020, the Company acquired the Blaw-Knox paver business and associated assets, including inventory, fixed assets and related intellectual property, (see Note 12 - Subsequent Events for additional information).

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basic and Diluted EPS	The following presents the calculation of the basic and diluted EPS for the years ended September 30, 2020 and 2019: 2020 2019 Net Income Shares EPS Net Income Shares EPS Basic EPS $ 5,531,000 14,595,000 $ 0.38 $ 10,196,000 14,551,000 $ 0.70 Common stock equivalents 125,000 157,000 Diluted EPS $ 5,531,000 14,720,000 $ 0.38 $ 10,196,000 14,708,000 $ 0.69
Company's Assets Measured at Fair Value	The following table sets forth by level, within the fair value hierarchy, the Company’s assets measured at fair value as of September 30, 2020: Fair Value Measurements Level 1 Level 2 Level 3 Total Equities $ 11,949,000 $ — $ — $ 11,949,000 Mutual Funds 9,595,000 — — 9,595,000 Exchange-Traded Funds 10,344,000 — — 10,344,000 Corporate Bonds — 27,877,000 — 27,877,000 Government Securities 16,147,000 — — 16,147,000 Cash and Money Funds 13,586,000 — — 13,586,000 Total $ 61,621,000 $ 27,877,000 $ — $ 89,498,000 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 Total $ 66,632,000 $ 38,690,000 $ — $ 105,322,000
Schedule of Changes in Allowance for Slow Moving and Obsolete Inventories	Changes in the allowance for slow-moving and obsolete inventories are as follows: 2020 2019 Balance, beginning of year $ 4,700,000 $ 4,543,000 Charged to cost of sales 401,000 304,000 Disposal of inventory, net of recoveries (484,000 ) (147,000 ) Balance, end of year $ 4,617,000 $ 4,700,000
Estimated Useful Lives of Assets	Property and equipment are stated at cost (see Note 4). Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the related assets, as follows: Years Land improvements 15 Buildings & improvements 6-40 Equipment 2-10
Disaggregation of Company's Net Revenue by Major Source	The following table disaggregates the Company’s net revenue by major source for the years ended September 30, 2020 and 2019: 2020 2019 Equipment sales recognized over time $ 35,579,000 $ 43,489,000 Equipment sales recognized at a point in time 23,642,000 19,987,000 Parts and component sales 13,896,000 13,356,000 Freight revenue 3,983,000 4,130,000 Other 320,000 367,000 Net revenue $ 77,420,000 $ 81,329,000
Schedule of Changes in Accrual for Warranty and Related Costs	Changes in the accrual for warranty and related costs are composed of the following: 2020 2019 Balance, beginning of year $ 277,000 $ 400,000 Warranties issued 375,000 140,000 Warranties settled (353,000 ) (263,000 ) Balance, end of year $ 299,000 $ 277,000
Schedule of Changes in Allowance for Doubtful Accounts	Changes in the allowance for doubtful accounts are composed of the following: 2020 2019 Balance, beginning of year $ 459,000 $ 313,000 Provision for doubtful accounts 50,000 175,000 Provision for estimated returns and allowances 205,000 315,000 Uncollectible accounts written off (5,000 ) (71,000 ) Returns and allowances issued (267,000 ) (273,000 ) Balance, end of year $ 442,000 $ 459,000

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Net Inventories	Net inventories consist of the following: September 30, 2020 2019 Raw materials $ 14,607,000 $ 14,158,000 Work in process 3,633,000 1,397,000 Finished goods 8,810,000 9,811,000 Used equipment 40,000 — Inventories, net $ 27,090,000 $ 25,366,000

Costs and Estimated Earnings _2

Costs and Estimated Earnings in Excess of Billings (Tables)	12 Months Ended
	Sep. 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 September 30, 2020 and 2019 consisted of the following: September 30, 2020 2019 Costs incurred on uncompleted contracts $ 10,390,000 $ 18,707,000 Estimated earnings 4,680,000 9,063,000 15,070,000 27,770,000 Billings to date 8,665,000 13,932,000 Costs and estimated earnings in excess of billings $ 6,405,000 $ 13,838,000

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment consist of the following as of September 30, 2020 and 2019: September 30, 2020 2019 Land and improvements $ 3,323,000 $ 3,323,000 Buildings and improvements 13,547,000 13,462,000 Equipment 16,305,000 14,809,000 33,175,000 31,594,000 Less: Accumulated depreciation and amortization (24,834,000 ) (23,205,000 ) Property and equipment, net $ 8,341,000 $ 8,389,000

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Accrued Expenses	Accrued expenses consist of the following as of September 30, 2020 and 2019: September 30, 2020 2019 Payroll and related accruals $ 1,608,000 $ 1,759,000 Warranty and related accruals 299,000 277,000 Professional fees 247,000 205,000 Income tax accruals 225,000 175,000 Other 226,000 244,000 Accrued expenses $ 2,605,000 $ 2,660,000

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Provision for Income Tax Expense	The provision for income tax expense consists of: Year Ended September 30, 2020 2019 Current: Federal $ 3,430,000 $ 2,297,000 State 346,000 148,000 Total current 3,776,000 2,445,000 Deferred: Federal (2,436,000 ) 52,000 State (190,000 ) 131,000 Total deferred (2,626,000 ) 183,000 Income tax expense $ 1,150,000 $ 2,628,000
Reconciliation of the Federal Statutory Tax Rate to the Total Tax Provision	A reconciliation of the federal statutory tax rate to the total tax provision is as follows: Year Ended September 30, 2020 2019 Federal income taxes computed at the statutory rate 21.0 % 21.0 % State income taxes, net of federal benefit 1.3 % 1.6 % Research & development tax refunds & credits (6.3 %) (1.9 %) Dividend received deduction (1.2 %) (0.6 %) 263A Section 481(a) adjustment 1.5 % — Other, net 0.9 % 0.4 % Effective income tax rate 17.2 % 20.5 %
Deferred Income Tax Assets and Liabilities	Deferred income tax assets and liabilities consist of the following: September 30, 2020 2019 Deferred Tax Assets: Accrued liabilities and reserves $ 340,000 $ 344,000 Allowance for doubtful accounts 98,000 104,000 Inventory 369,000 98,000 Stock-based compensation 81,000 82,000 Net operating losses carryforwards 5,000 7,000 Gross Deferred Income Tax Assets 893,000 635,000 Deferred and Other Tax Liabilities: Domestic international sales corporation (329,000 ) (464,000 ) Percentage of completion — (2,048,000 ) Property and equipment (1,158,000 ) (1,080,000 ) Unrealized gain on investments (2,000 ) (265,000 ) Unrecognized tax benefits (150,000 ) (150,000 ) Gross Deferred and Other Income Tax Liabilities (1,639,000 ) (4,007,000 ) Net Deferred and Other Income Tax Assets (Liabilities) $ (746,000 ) $ (3,372,000 )

Leases (Tables)

Leases (Tables)	12 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Summary of Other Information Concerning the Company's Operating Lease	Other information concerning the Company’s operating lease accounted for under ASC 842 guidelines is as follows: As of September 30, 2020 Operating lease ROU asset included in other long-term assets $ 942,000 Current operating lease liability 328,000 Non-current operating lease liability 614,000 Weighted average remaining lease term (in years) 2.92 Weighted average discount rate used in calculating ROU 4.0 %
Summary of Future Annual Minimum Lease Payments	Future annual minimum lease payments as of September 30, 2020 are as follows: Fiscal Year Annual Lease Payments 2021 $ 335,000 2022 343,000 2023 322,000 Total 1,000,000 Less interest (58,000 ) Present value of lease liabilities $ 942,000

Shareholders' Equity and Stoc_2

Shareholders' Equity and Stock-Based Compensation (Tables)	12 Months Ended
	Sep. 30, 2020
2009 Plan [Member]
Summary of Option Activity under Stock-Based Compensation Plan	Th e 2009 Plan: Number of Average Options outstanding at September 30, 2018 317,492 $ 5.984 Options exercised during fiscal 2019 (45,000 ) $ 5.126 Options outstanding at September 30, 2019 272,492 $ 6.126 Options exercised during fiscal 2020 (20,000 ) $ 5.126 Options outstanding at September 30, 2020 252,492 $ 6.205

Nature of Operations and Summ_4

Nature of Operations and Summary of Significant Accounting Policies - Basic and Diluted EPS (Detail) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Net income (loss)	$ 5,531,000	$ 10,196,000
Net Income Diluted	$ 5,531,000	$ 10,196,000
Weighted average common shares outstanding	14,595,000	14,551,000
Common Stock Equivalents	125,000	157,000
Diluted shares outstanding	14,720,000	14,708,000
Basic earnings per common share:
Basic earnings per share	$ 0.38	$ 0.70
Diluted earnings per common share:
Diluted earnings per share	$ 0.38	$ 0.69

Nature of Operations and Summ_5

Nature of Operations and Summary of Significant Accounting Policies - Company's Assets Measured at Fair Value (Detail) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Investment Holdings [Line Items]
Total	$ 89,498,000	$ 105,322,000
Level 1 [Member]
Investment Holdings [Line Items]
Total	61,621,000	66,632,000
Level 2 [Member]
Investment Holdings [Line Items]
Total	27,877,000	38,690,000
Equities [Member]
Investment Holdings [Line Items]
Total	11,949,000	10,412,000
Equities [Member] | Level 1 [Member]
Investment Holdings [Line Items]
Total	11,949,000	10,412,000
Mutual Funds [Member]
Investment Holdings [Line Items]
Total	9,595,000	3,987,000
Mutual Funds [Member] | Level 1 [Member]
Investment Holdings [Line Items]
Total	9,595,000	3,987,000
Exchange Traded Funds [Member]
Investment Holdings [Line Items]
Total	10,344,000	5,163,000
Exchange Traded Funds [Member] | Level 1 [Member]
Investment Holdings [Line Items]
Total	10,344,000	5,163,000
Corporate Bonds [Member]
Investment Holdings [Line Items]
Total	27,877,000	38,690,000
Corporate Bonds [Member] | Level 2 [Member]
Investment Holdings [Line Items]
Total	27,877,000	38,690,000
Government Securities [Member]
Investment Holdings [Line Items]
Total	16,147,000	45,171,000
Government Securities [Member] | Level 1 [Member]
Investment Holdings [Line Items]
Total	16,147,000	45,171,000
Cash and Money Funds [Member]
Investment Holdings [Line Items]
Total	13,586,000	1,899,000
Cash and Money Funds [Member] | Level 1 [Member]
Investment Holdings [Line Items]
Total	$ 13,586,000	$ 1,899,000

Nature of Operations and Summ_6

Nature of Operations and Summary of Significant Accounting Policies - Schedule of Changes in Allowance for Slow Moving and Obsolete Inventories (Detail) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Inventory Disclosure [Abstract]
Balance, beginning of year	$ 4,700,000	$ 4,543,000
Charged to cost of sales	401,000	304,000
Disposal of inventory, net of recoveries	(484,000)	(147,000)
Balance, end of year	$ 4,617,000	$ 4,700,000

Nature of Operations and Summ_7

Nature of Operations and Summary of Significant Accounting Policies - Estimated Useful Lives of Assets (Detail)	12 Months Ended
	Sep. 30, 2020
Land Improvements [Member]
Estimated useful lives of assets	15 years
Buildings and Improvements [Member] | Maximum [Member]
Estimated useful lives of assets	40 years
Buildings and Improvements [Member] | Minimum [Member]
Estimated useful lives of assets	6 years
Equipment [Member] | Maximum [Member]
Estimated useful lives of assets	10 years
Equipment [Member] | Minimum [Member]
Estimated useful lives of assets	2 years

Nature of Operations and Summ_8

Nature of Operations and Summary of Significant Accounting Policies - Disaggregation of Company's Net Revenue by Major Source (Detail) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Net revenue	$ 77,420,000	$ 81,329,000
Equipment Sales [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Net revenue	35,579,000	43,489,000
Equipment Sales [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Net revenue	23,642,000	19,987,000
Parts and Component Sales [Member]
Disaggregation of Revenue [Line Items]
Net revenue	13,896,000	13,356,000
Freight Revenue [Member]
Disaggregation of Revenue [Line Items]
Net revenue	3,983,000	4,130,000
Other [Member]
Disaggregation of Revenue [Line Items]
Net revenue	$ 320,000	$ 367,000

Nature of Operations and Summ_9

Nature of Operations and Summary of Significant Accounting Policies - Schedule of Changes in Accrual for Warranty and Related Costs (Detail) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Product Warranty Liability [Abstract]
Balance, beginning of year	$ 277,000	$ 400,000
Warranties issued	375,000	140,000
Warranties settled	(353,000)	(263,000)
Balance, end of year	$ 299,000	$ 277,000

Nature of Operations and Sum_10

Nature of Operations and Summary of Significant Accounting Policies - Schedule of Changes in Allowance for Doubtful Accounts (Detail) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Receivables [Abstract]
Balance, beginning of year	$ 459,000	$ 313,000
Provision for doubtful accounts	50,000	175,000
Provision for estimated returns and allowances	205,000	315,000
Uncollectible accounts written off	(5,000)	(71,000)
Returns and allowances issued	(267,000)	(273,000)
Balance, end of year	$ 442,000	$ 459,000

Nature of Operations and Sum_11

Nature of Operations and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	Oct. 01, 2020	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Aug. 28, 2020
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Exercisable stock options, included in the diluted EPS calculation			256,000	307,000
Effect of dilutive stock options			125,000	157,000
Anti-dilutive exercisable stock options, not included in the diluted EPS calculation			7,000	0
Net unrealized gains (losses)			$ (1,091,000)	$ 737,000
Transfers of investments between Level 1 and Level 2		$ 0	0	0
Impairment loss recognized on an asset group			0	0
Valuation allowance		0	0	0
Costs and estimated earnings in excess of billings		6,405,000	6,405,000	13,838,000
Net revenue			77,420,000	81,329,000
Accounts receivable related to contracts with customers		223,000	223,000	301,000
Total long-term assets		9,336,000	9,336,000	8,442,000
Proceeds from sale of investments		17,000,000
Transfer from marketable securities to cash equivalents at fair value				2,000,000
Operating lease right of use assets					$ 970,000
Operating lease liabilities		942,000	942,000
Subsequent Events
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Business Combination, Acquisition Related Costs	$ 14,400,000
New Lease Agreement [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Operating lease right of use assets		970,000	970,000
New Lease Agreement [Member] | Blaw Knox Product Line From Volvo CE [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Operating lease right of use assets		942,000	942,000
Operating lease liabilities		970,000	$ 970,000
Maximum [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Contract assets collection period			1 year
Current Liabilities [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Customer deposits related to contracts with customers		$ 3,853,000	$ 3,853,000	$ 1,918,000
Entities Owned by One Global Company [Member] | Revenue [Member] | Customer One [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Percentage of concentration			10.00%	10.00%
Three to Four Years Old Inventory [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Inventory, minimum time period on the shelf, years			3 years
Inventory, maximum time period on the shelf, years			4 years
Cost basis reduction in inventory, percentage			50.00%
Four to Five Years Old Inventory [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Inventory, minimum time period on the shelf, years			4 years
Inventory, maximum time period on the shelf, years			5 years
Cost basis reduction in inventory, percentage			75.00%
Greater Than Five Years Old Inventory [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Inventory, minimum time period on the shelf, years			5 years
Inventory valuation estimate			$ 0

Inventories - Net Inventories (

Inventories - Net Inventories (Detail) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Inventory, Net [Abstract]
Raw materials	$ 14,607,000	$ 14,158,000
Work in process	3,633,000	1,397,000
Finished goods	8,810,000	9,811,000
Used equipment	40,000
Inventories, net	$ 27,090,000	$ 25,366,000

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($)	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Inventory [Line Items]
Slow moving and obsolete inventory reserve	$ 4,617,000	$ 4,700,000	$ 4,543,000

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 ($)	Sep. 30, 2020	Sep. 30, 2019
Costs in Excess of Billings on Uncompleted Contracts or Programs [Abstract]
Costs incurred on uncompleted contracts	$ 10,390,000	$ 18,707,000
Estimated earnings	4,680,000	9,063,000
Costs and estimated earnings on uncompleted contracts	15,070,000	27,770,000
Billings to date	8,665,000	13,932,000
Costs and estimated earnings in excess of billings	$ 6,405,000	$ 13,838,000

Property and Equipment - Proper

Property and Equipment - Property and Equipment (Detail) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 33,175,000	$ 31,594,000
Less: Accumulated depreciation and amortization	(24,834,000)	(23,205,000)
Property and equipment, net	8,341,000	8,389,000
Land and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,323,000	3,323,000
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	13,547,000	13,462,000
Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 16,305,000	$ 14,809,000

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Property and equipment (fully depreciated assets)	$ 14,300,000	$ 12,866,000

Accrued Expenses - Accrued Expe

Accrued Expenses - Accrued Expenses (Detail) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Payables and Accruals [Abstract]
Payroll and related accruals	$ 1,608,000	$ 1,759,000
Warranty and related accruals	299,000	277,000
Professional fees	247,000	205,000
Income tax accruals	225,000	175,000
Other	226,000	244,000
Accrued expenses	$ 2,605,000	$ 2,660,000

Income Taxes - Provision for In

Income Taxes - Provision for Income Tax Expense (Detail) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Current:
Federal	$ 3,430,000	$ 2,297,000
State	346,000	148,000
Total current	3,776,000	2,445,000
Deferred:
Federal	(2,436,000)	52,000
State	(190,000)	131,000
Total deferred	(2,626,000)	183,000
Income tax expense	$ 1,150,000	$ 2,628,000

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of the Federal Statutory Tax Rate to the Total Tax Provision (Detail)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Federal income taxes computed at the statutory rate	21.00%	21.00%
State income taxes, net of federal benefit	1.30%	1.60%
Research & development tax refunds & credits	(6.30%)	(1.90%)
Dividend received deduction	(1.20%)	(0.60%)
263A Section 481(a) adjustment	1.50%
Other, net	0.90%	0.40%
Effective income tax rate	17.20%	20.50%

Income Taxes - Deferred Income

Income Taxes - Deferred Income Tax Assets and Liabilities (Detail) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Deferred Tax Assets:
Accrued liabilities and reserves	$ 340,000	$ 344,000
Allowance for doubtful accounts	98,000	104,000
Inventory	369,000	98,000
Stock-based compensation	81,000	82,000
Net operating losses carryforwards	5,000	7,000
Gross Deferred Income Tax Assets	893,000	635,000
Deferred and Other Tax Liabilities:
Domestic international sales corporation	(329,000)	(464,000)
Percentage of completion		(2,048,000)
Property and equipment	(1,158,000)	(1,080,000)
Unrealized gain on investment	(2,000)	(265,000)
Unrecognized tax benefits	(150,000)	(150,000)
Gross Deferred and Other Income Tax Liabilities	(1,639,000)	(4,007,000)
Net Deferred and Other Income Tax Assets (Liabilities)	$ (746,000)	$ (3,372,000)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
IncomeTaxes [Line Items]
Total incomes taxes paid	$ 3,850,000	$ 1,150,000
Unrecognized tax benefits	150,000	150,000
Additional accruals of UTB's	0	0
Additional accruals of interest expense nor penalties	$ 0	$ 0
Effective income tax rate	17.20%	20.50%
Income Taxes Paid	$ 3,850,000	$ 1,150,000
Florida R&D Credits [Member]
IncomeTaxes [Line Items]
R&D tax credits carryforwards	0	0	$ 87,000
R&D Credits	0	87,000	$ 87,000
Federal [Member]
IncomeTaxes [Line Items]
R&D tax credits carryforwards	0	0
R&D Credits	421,000	$ 241,000
Internal Revenue Service (IRS) [Member]
IncomeTaxes [Line Items]
Total incomes taxes paid	2,050,000
Income Taxes Paid	$ 2,050,000

Retirement Benefits - Additiona

Retirement Benefits - Additional Information (Detail) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Retirement Benefits [Abstract]
Retirement benefits expense under the provisions of the plan	$ 290,000	$ 282,000

Long-Term Debt and Arrangemen_2

Long-Term Debt and Arrangements with Financial Institutions - Additional Information (Detail) - USD ($)	Sep. 30, 2020	Apr. 30, 2020	Sep. 30, 2019
Debt Disclosure [Abstract]
Long term debt outstanding	$ 0		$ 0
Total cash deposits with insurance companies covering collateral needs	$ 85,000
Proceeds from lines of credit		$ 150,000

Leases - Summary of Other Infor

Leases - Summary of Other Information Concerning the Company's Operating Lease (Detail) - USD ($)	Sep. 30, 2020	Aug. 28, 2020
Lessee, Lease, Description [Line Items]
Operating lease ROU asset included in other long-term assets		$ 970,000
Current operating lease liability	$ 328,000
Non-current operating lease liability	614,000
New Lease Agreement [Member]
Lessee, Lease, Description [Line Items]
Operating lease ROU asset included in other long-term assets	970,000
Blaw Knox Product Line From Volvo CE [Member] | New Lease Agreement [Member]
Lessee, Lease, Description [Line Items]
Operating lease ROU asset included in other long-term assets	942,000
Current operating lease liability	328,000
Non-current operating lease liability	$ 614,000
Weighted average remaining lease term (in years)	2 years 11 months 1 day
Weighted average discount rate used in calculating ROU asset	4.00%

Leases - Summary of Future Annu

Leases - Summary of Future Annual Minimum Lease Payments (Detail)	Sep. 30, 2020USD ($)
Minimum Lease Payments, Sale Leaseback Transactions, Fiscal Year Maturity [Abstract]
2021	$ 335,000
2022	343,000
2023	322,000
Total	1,000,000
Less interest	(58,000)
Present value of lease liabilities	$ 942,000

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($)	Aug. 28, 2020	Sep. 30, 2020	Sep. 30, 2019
Lessee, Lease, Description [Line Items]
Total rental expense		$ 37,000	$ 40,000
Assets	$ 970,000
Operating Lease, Expense		28,000
Operating lease term	3 years
New Lease Agreement [Member]
Lessee, Lease, Description [Line Items]
Assets		970,000
Blaw Knox Product Line From Volvo CE [Member] | New Lease Agreement [Member]
Lessee, Lease, Description [Line Items]
Assets		$ 942,000
Operating lease liability date of expiry	Aug. 31, 2023

Shareholders' Equity and Stoc_3

Shareholders' Equity and Stock-Based Compensation - Additional Information (Detail) - shares	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018	Mar. 17, 2009
Class of Stock [Line Items]
Common stock options issued to employees	177,492
Number of shares, options outstanding	252,492	272,492	317,492
2009 Plan [Member]
Class of Stock [Line Items]
Common stock options issued to employees	0
Shares available for granting	0
Remaining contractual life on the options outstanding	1 year 7 months 6 days
Number of options, forfeited or cancelled	0
Common Stock [Member]
Class of Stock [Line Items]
Right of holders to elect company's board of directors	25.00%
Common Stock [Member] | 2009 Plan [Member]
Class of Stock [Line Items]
Maximum number of shares granting of awards				800,000
Class B Stock [Member]
Class of Stock [Line Items]
Right of holders to elect company's board of directors	75.00%	75.00%
Class B Stock [Member] | 2009 Plan [Member]
Class of Stock [Line Items]
Maximum number of shares granting of awards				160,000
Class B Stock [Member] | 2009 Plan [Member] | Share-based Compensation Award, Tranche One [Member]
Class of Stock [Line Items]
Number of shares, options outstanding	45,000	45,000
Share based payments, options, expiration date	Oct. 1, 2021	Oct. 1, 2021
Class B Stock [Member] | 2009 Plan [Member] | Share-based Compensation Award, Tranche Two [Member]
Class of Stock [Line Items]
Number of shares, options outstanding	30,000	30,000
Share based payments, options, expiration date	Sep. 26, 2026	Sep. 26, 2026

Shareholders' Equity and Stoc_4

Shareholders' Equity and Stock-Based Compensation - Summary of Option Activity under Stock-Based Compensation Plan (Detail) - $ / shares	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Options exercised	(20,000)	(45,000)
Number of Shares, Options outstanding	252,492	272,492	317,492
Average Exercise Price Per Share, Options exercised	$ 5.126	$ 5.126
Average Exercise Price Per Share, Options outstanding	$ 6.205	$ 6.126	$ 5.984

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) $ in Millions	Oct. 01, 2020USD ($)
Subsequent Events
Subsequent Event [Line Items]
Business Combination, Acquisition Related Costs	$ 14.4