Span America Medical Systems (SPAN) 10-Q 12 Aug 14 2014 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Jun. 28, 2014	Aug. 08, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'SPAN AMERICA MEDICAL SYSTEMS INC	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--09-27	'
Entity Common Stock, Shares Outstanding	'	2,962,007
Amendment Flag	'false	'
Entity Central Index Key	'0000718924	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	28-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'

Consolidated_Balance_Sheets_Cu

Consolidated Balance Sheets (Current Period Unaudited) (USD $)	Jun. 28, 2014	Sep. 28, 2013
Current assets:	'	'
Cash and cash equivalents	$6,888,968	$5,424,521
Accounts receivable, net of allowances of $308,000 (June 28, 2014) and $263,000 (Sept. 28, 2013)	5,854,434	7,787,837
Inventories - Note 3	6,689,812	6,445,950
Deferred income taxes	348,950	348,950
Prepaid expenses	880,004	698,003
Total current assets	20,662,168	20,705,261
Property, plant and equipment, net - Note 4	5,000,750	5,136,535
Goodwill	4,401,447	4,487,546
Intangibles, net - Note 5	3,060,442	3,430,349
Other assets - Note 6	2,930,657	2,616,937
	36,055,464	36,376,628
Current liabilities:	'	'
Accounts payable	2,569,782	2,658,125
Accrued and sundry liabilities	1,899,345	2,875,600
Total current liabilities	4,469,127	5,533,725
Deferred income taxes	192,536	194,883
Deferred compensation	476,652	534,239
Total long-term liabilities	669,188	729,122
Total liabilities	5,138,315	6,262,847
Shareholders' equity:	'	'
Common stock, no par value, 20,000,000 shares authorized; issued and outstanding shares 2,962,007 (June 28, 2014) and 2,927,416 (Sept. 28, 2013)	3,064,658	2,626,526
Additional paid-in capital	892,471	872,494
Retained earnings	27,524,167	26,828,012
Accumulated other comprehensive loss	-564,147	-213,251
Total shareholders' equity	30,917,149	30,113,781
	$36,055,464	$36,376,628

Consolidated_Balance_Sheets_Cu1

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)	Jun. 28, 2014	Sep. 28, 2013
Accounts receivable, allowances (in Dollars)	$308,000	$263,000
Common stock, par value (in Dollars per share)	$0	$0
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	2,962,007	2,927,416
Common stock, shares outstanding	2,962,007	2,927,416

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013
Net sales	$13,250,985	$18,621,212	$42,812,791	$56,904,627
Cost of goods sold	8,907,793	12,396,380	28,428,627	38,760,002
Gross profit	4,343,192	6,224,832	14,384,164	18,144,625
Selling and marketing expenses	2,532,889	2,903,918	7,623,819	8,166,201
Research and development expenses	256,596	311,030	819,503	978,777
General and administrative expenses	990,703	1,195,663	3,032,036	3,295,323
	3,780,188	4,410,611	11,475,358	12,440,301
Operating income	563,004	1,814,221	2,908,806	5,704,324
Non-operating income (expense):	'	'	'	'
Interest expense	-3,160	-3,160	-9,479	-12,002
Other	16,209	823	44,537	-27,992
Net non-operating (expense) income	13,049	-2,337	35,058	-39,994
Income before income taxes	576,053	1,811,884	2,943,864	5,664,330
Provision for income taxes	198,000	589,000	1,009,000	1,844,000
Net income	378,053	1,222,884	1,934,864	3,820,330
Other comprehensive income (loss), after tax:	'	'	'	'
Foreign currency translation gain (loss)	357,259	-371,513	-350,896	-714,194
Comprehensive income	$735,312	$851,371	$1,583,968	$3,106,136
Net income per share of common stock - Note 8:	'	'	'	'
Basic (in Dollars per share)	$0.13	$0.41	$0.66	$1.30
Diluted (in Dollars per share)	$0.13	$0.41	$0.65	$1.28
Dividends per common share (1) (in Dollars per share)	$0.14	$0.13	$0.42	$1.38	[1]
Weighted average shares outstanding:	'	'	'	'
Basic (in Shares)	2,961,128	2,951,894	2,944,653	2,939,057
Diluted (in Shares)	3,004,726	3,002,567	2,991,124	2,993,317
Special Dividend Paid [Member]	'	'	'	'
Net income per share of common stock - Note 8:	'	'	'	'
Dividends per common share (1) (in Dollars per share)	'	'	'	$1
[1]	Dividends per share for the nine months ended June 29, 2013 include a special dividend of $1.00 per share paid on December 4, 2012.

Consolidated_Statements_of_Com1

Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) (USD $)	3 Months Ended		9 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013
Special dividend paid on December 4, 2012, per share	$0.14	$0.13	$0.42	$1.38	[1]
Special Dividend Paid [Member]	'	'	'	'
Special dividend paid on December 4, 2012, per share	'	'	'	$1
[1]	Dividends per share for the nine months ended June 29, 2013 include a special dividend of $1.00 per share paid on December 4, 2012.

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Jun. 28, 2014	Jun. 29, 2013
Operating activities:	'	'
Net income	$1,934,864	$3,820,330
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	967,081	954,345
Provision for losses on accounts receivable	127,980	49,784
Gain on sale and disposal of property and equipment	'	-916
Increase in cash value of life insurance	-167,144	-126,051
Deferred compensation	-57,587	-44,879
Stock compensation expense	19,978	27,582
Changes in operating assets and liabilities:	'	'
Accounts receivable	1,757,013	-2,029,044
Inventories	-293,514	2,716,959
Prepaid expenses and other assets	-180,299	-452,764
Accounts payable and accrued expenses	-1,043,177	517,142
Net cash provided by operating activities	3,065,195	5,432,488
Investing activities:	'	'
Purchases of property and equipment	-528,713	-427,654
Proceeds from sale of property and equipment	'	7,850
Payments for other assets	-68,494	-87,376
Net cash used for investing activities	-597,207	-507,180
Financing activities:	'	'
Dividends paid	-1,238,710	-4,026,044
Common stock issued upon exercise of options	273,397	147,665
Net cash used for financing activities	-965,313	-3,878,379
Effect of exchange rates on cash	-38,228	-114,164
Increase in cash and cash equivalents	1,464,447	932,765
Cash and cash equivalents at beginning of period	5,424,521	2,665,302
Cash and cash equivalents at end of period	$6,888,968	$3,598,067

Note_1_Significant_Accounting_

Note 1 - Significant Accounting Policies	9 Months Ended
	Jun. 28, 2014
Accounting Policies [Abstract]	'
Significant Accounting Policies [Text Block]	'
	1. SIGNIFICANT ACCOUNTING POLICIES
	Span-America Medical Systems, Inc., a South Carolina corporation (the “Company,” “Span,” “Span-America,” “we,” “us” or “our”), has prepared the accompanying unaudited financial statements in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In our opinion, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine-month period ended June 28, 2014 are not necessarily indicative of the results that may be expected for the fiscal year ending September 27, 2014. For further information, refer to our Annual Report on Form 10-K for the fiscal year ended September 28, 2013.
	Principles of Consolidation
	The consolidated financial statements include the accounts of the Company and Span Medical Products Canada Inc., a British Columbia corporation (“Span-Canada”), its wholly-owned subsidiary. Material inter-company accounts and transactions have been eliminated.
	Foreign Currency Translation
	The assets and liabilities of Span-Canada, operating under the name “M.C. Healthcare Products,” which uses the Canadian dollar as its functional currency, are translated into U.S. dollars at the quarter-end exchange rate. Revenues and expenses are translated at monthly weighted average exchange rates. The resulting translation adjustments are recorded as a separate component of shareholders’ equity.
	Recently Issued Accounting Standards
	On April 10, 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. The amendments in this update create Topic 606, Revenue from Contracts with Customers, and supersede the revenue recognition requirements in Topic 605. The objective of the amendment is to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards ("IFRS"). The amendment is effective for annual reporting periods beginning after December 15, 2016, and interim periods therein. Early adoption is not permitted. We are evaluating the effect, if any, on the financial statements.
	Stock-Based Compensation
	We measure and recognize compensation expense for all stock-based payments at fair value. Stock-based payments include stock option grants. We have granted options to purchase common stock to some of our employees under various plans at prices equal to the market value of the stock on the dates the options were granted. New shares of stock are issued upon share option exercise. We do not have treasury stock. We have not made any stock option grants since fiscal year 2011.

Note_2_Fair_Value_of_Financial

Note 2 - Fair Value of Financial Instruments	9 Months Ended
	Jun. 28, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	2. FAIR VALUE OF FINANCIAL INSTRUMENTS
	The following table summarizes information on the fair value measurement of the Company’s financial instrument assets as of June 28, 2014 and September 28, 2013 grouped by the categories prescribed by the FASB:
		Total		Quoted Prices in		Significant		Significant
				Active		Other		Unobservable
				Markets		Observable		Inputs
				(Level 1)		Inputs		(Level 3)
						(Level 2)
	Cash value of life insurance policies:
	28-Jun-14	$	2,485,865		-	$	2,485,865		-
	28-Sep-13	$	2,318,721		-	$	2,318,721		-

Note_3_Inventories

Note 3 - Inventories	9 Months Ended
	Jun. 28, 2014
Inventory Disclosure [Abstract]	'
Inventory Disclosure [Text Block]	'
	3. INVENTORIES
		June 28,			September 28,
		2014			2013
	Raw materials	$	5,299,902		$	5,054,462
	Work in process		818,287			698,786
	Finished goods		982,623			1,412,702
	Reserve for obsolescence		(411,000	)		(720,000	)
		$	6,689,812		$	6,445,950

Note_4_Property_and_Equipment

Note 4 - Property and Equipment	9 Months Ended
	Jun. 28, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment Disclosure [Text Block]	'
	4. PROPERTY AND EQUIPMENT
		June 28,		September 28,
		2014		2013
	Land	$	469,718	$	469,718
	Land improvements		486,698		486,698
	Buildings		6,923,249		6,910,251
	Machinery and equipment		8,848,298		8,233,213
	Furniture and fixtures		490,371		488,346
	Construction in process		76,920		201,873
	Automobiles		11,396		11,461
			17,306,650		16,801,560
	Less accumulated depreciation		12,305,900		11,665,025
		$	5,000,750	$	5,136,535

Note_5_Intangibles

Note 5 - Intangibles	9 Months Ended
	Jun. 28, 2014
Disclosure Text Block [Abstract]	'
Intangible Assets Disclosure [Text Block]	'
	5. INTANGIBLES
		June 28,			September 28,
		2014			2013
	Patents and trademarks	$	2,141,763		$	2,103,647
	Trade names		422,836			437,532
	Non-competition agreements		185,288			191,727
	Customer relationships		3,108,084			3,216,105
			5,857,971			5,949,011
	Less accumulated amortization		(2,797,529	)		(2,518,662	)
	Net intangibles	$	3,060,442		$	3,430,349
	Changes in balances shown for trade names, non-competition agreements and customer relationships result solely from foreign currency fluctuations.

Note_6_Other_Assets

Note 6 - Other Assets	9 Months Ended
	Jun. 28, 2014
Disclosure Text Block Supplement [Abstract]	'
Other Assets Disclosure [Text Block]	'
	6. OTHER ASSETS
		June 28,		September 28,
		2014		2013
	Cash value of life insurance policies - Note 2	$	2,485,865	$	2,318,721
	Other		444,792		298,216
		$	2,930,657	$	2,616,937

Note_7_Product_Warranties

Note 7 - Product Warranties	9 Months Ended
	Jun. 28, 2014
Product Warranties Disclosures [Abstract]	'
Product Warranty Disclosure [Text Block]	'
	7. PRODUCT WARRANTIES
	We offer warranties of various lengths to our customers, depending on the specific product sold. The warranties require us to repair or replace non-performing products during the warranty period at no cost to the customer. At the time revenue is recognized for products covered by warranties, we record a liability for estimated costs to be incurred under our warranties. The costs are estimated based on historical experience, any specific warranty problems that have been identified and recovery of secondary warranty cost from component suppliers.  The amounts shown below are presented net of any expected cost recovery from suppliers. Although historical warranty costs have been within our estimates, there can be no assurance that future warranty costs will not exceed our current estimates. We regularly evaluate the adequacy of the warranty liability and adjust the balance as necessary.
	Changes in our product warranty liability for the nine months ended June 28, 2014 and June 29, 2013 are as follows:
		Nine Months Ended
		June 28,			June 29,
		2014			2013
	Accrued liability at beginning of period	$	318,824		$	378,643
	Increase in reserve		91,954			98,276
	Claims settled		(158,258	)		(124,887	)
	Accrued liability at end of period	$	252,520		$	352,032

Note_8_Earnings_Per_Share_of_C

Note 8 - Earnings Per Share of Common Stock	9 Months Ended
	Jun. 28, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	8. EARNINGS PER SHARE OF COMMON STOCK
	The following table sets forth the computation of basic and diluted earnings per share of our common stock.
		Three Months Ended				Nine Months Ended
		June 28,		June 29,		June 28,		June 29,
		2014		2013		2014		2013
	Numerator for basic and diluted earnings per share:
	Net income	$	378,053	$	1,222,884	$	1,934,864	$	3,820,330
	Denominator:
	Denominator for basic earnings per share:
	Weighted average shares		2,961,128		2,951,894		2,944,653		2,939,057
	Effect of dilutive securities:
	Employee stock options		43,598		50,673		46,471		54,260
	Denominator for diluted earnings per share:
	Adjusted weighted average shares and assumed conversions		3,004,726		3,002,567		2,991,124		2,993,317
	Net income per share of common stock:
	Basic	$	0.13	$	0.41	$	0.66	$	1.3
	Diluted	$	0.13	$	0.41	$	0.65	$	1.28

Note_9_Operations_and_Industry

Note 9 - Operations and Industry Segments	9 Months Ended
	Jun. 28, 2014
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	9. OPERATIONS AND INDUSTRY SEGMENTS
	For management and reporting purposes, we divide our business into two segments: medical and custom products. This industry segment information corresponds to the markets in the United States and Canada in which we manufacture and distribute our various products.
	The following table summarizes certain information on industry segments:
		Three Months Ended						Nine Months Ended
		June 28,			June 29,			June 28,			June 29,
		2014			2013			2014			2013
	Net sales:
	Medical	$	10,293,467		$	13,427,180		$	32,062,039		$	36,319,007
	Custom products		2,957,518			5,194,032			10,750,752			20,585,620
	Total	$	13,250,985		$	18,621,212		$	42,812,791		$	56,904,627
	Operating profit (loss) before corporate expense:
	Medical	$	756,035		$	1,816,406		$	2,927,520		$	4,129,152
	Custom products		(61,915	)		179,703			419,756			2,074,631
	Total		694,120			1,996,109			3,347,276			6,203,783
	Corporate expense		(131,116	)		(181,888	)		(438,470	)		(499,459	)
	Other income (expense)		13,049			(2,337	)		35,058			(39,994	)
	Income before income taxes	$	576,053		$	1,811,884		$	2,943,864		$	5,664,330
	Total sales by industry segment include sales to unaffiliated customers, as reported in our statements of comprehensive income. In calculating operating profit by segment, non-allocable general corporate expenses, interest expense, other income, and income taxes are not included, but certain corporate operating expenses incurred for the benefit of all segments are included on an allocated basis.

Note_10_Commitments_and_Contin

Note 10 - Commitments and Contingencies	9 Months Ended
	Jun. 28, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	10. COMMITMENTS AND CONTINGENCIES
	From time to time we are defendants in legal actions involving claims arising in the normal course of business. We believe that, as a result of legal defenses and insurance arrangements with parties we believe to be financially capable, none of these actions, if determined adversely, would have a material adverse effect on our operations or financial condition.

Accounting_Policies_by_Policy_

Accounting Policies, by Policy (Policies)	9 Months Ended
	Jun. 28, 2014
Accounting Policies [Abstract]	'
Consolidation, Policy [Policy Text Block]	'
	Principles of Consolidation
	The consolidated financial statements include the accounts of the Company and Span Medical Products Canada Inc., a British Columbia corporation (“Span-Canada”), its wholly-owned subsidiary. Material inter-company accounts and transactions have been eliminated.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	'
	Foreign Currency Translation
	The assets and liabilities of Span-Canada, operating under the name “M.C. Healthcare Products,” which uses the Canadian dollar as its functional currency, are translated into U.S. dollars at the quarter-end exchange rate. Revenues and expenses are translated at monthly weighted average exchange rates. The resulting translation adjustments are recorded as a separate component of shareholders’ equity.
New Accounting Pronouncements, Policy [Policy Text Block]	'
	Recently Issued Accounting Standards
	On April 10, 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. The amendments in this update create Topic 606, Revenue from Contracts with Customers, and supersede the revenue recognition requirements in Topic 605. The objective of the amendment is to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards ("IFRS"). The amendment is effective for annual reporting periods beginning after December 15, 2016, and interim periods therein. Early adoption is not permitted. We are evaluating the effect, if any, on the financial statements.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	'
	Stock-Based Compensation
	We measure and recognize compensation expense for all stock-based payments at fair value. Stock-based payments include stock option grants. We have granted options to purchase common stock to some of our employees under various plans at prices equal to the market value of the stock on the dates the options were granted. New shares of stock are issued upon share option exercise. We do not have treasury stock. We have not made any stock option grants since fiscal year 2011.

Note_2_Fair_Value_of_Financial1

Note 2 - Fair Value of Financial Instruments (Tables)	9 Months Ended
	Jun. 28, 2014
Fair Value Disclosures [Abstract]	'
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]	'
		Total		Quoted Prices in		Significant		Significant
				Active		Other		Unobservable
				Markets		Observable		Inputs
				(Level 1)		Inputs		(Level 3)
						(Level 2)
	Cash value of life insurance policies:
	28-Jun-14	$	2,485,865		-	$	2,485,865		-
	28-Sep-13	$	2,318,721		-	$	2,318,721		-

Note_3_Inventories_Tables

Note 3 - Inventories (Tables)	9 Months Ended
	Jun. 28, 2014
Inventory Disclosure [Abstract]	'
Schedule of Inventory, Current [Table Text Block]	'
		June 28,			September 28,
		2014			2013
	Raw materials	$	5,299,902		$	5,054,462
	Work in process		818,287			698,786
	Finished goods		982,623			1,412,702
	Reserve for obsolescence		(411,000	)		(720,000	)
		$	6,689,812		$	6,445,950

Note_4_Property_and_Equipment_

Note 4 - Property and Equipment (Tables)	9 Months Ended
	Jun. 28, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment [Table Text Block]	'
		June 28,		September 28,
		2014		2013
	Land	$	469,718	$	469,718
	Land improvements		486,698		486,698
	Buildings		6,923,249		6,910,251
	Machinery and equipment		8,848,298		8,233,213
	Furniture and fixtures		490,371		488,346
	Construction in process		76,920		201,873
	Automobiles		11,396		11,461
			17,306,650		16,801,560
	Less accumulated depreciation		12,305,900		11,665,025
		$	5,000,750	$	5,136,535

Note_5_Intangibles_Tables

Note 5 - Intangibles (Tables)	9 Months Ended
	Jun. 28, 2014
Disclosure Text Block [Abstract]	'
Schedule of Finite-Lived Intangible Assets [Table Text Block]	'
		June 28,			September 28,
		2014			2013
	Patents and trademarks	$	2,141,763		$	2,103,647
	Trade names		422,836			437,532
	Non-competition agreements		185,288			191,727
	Customer relationships		3,108,084			3,216,105
			5,857,971			5,949,011
	Less accumulated amortization		(2,797,529	)		(2,518,662	)
	Net intangibles	$	3,060,442		$	3,430,349

Note_6_Other_Assets_Tables

Note 6 - Other Assets (Tables)	9 Months Ended
	Jun. 28, 2014
Disclosure Text Block Supplement [Abstract]	'
Schedule of Other Assets, Noncurrent [Table Text Block]	'
		June 28,		September 28,
		2014		2013
	Cash value of life insurance policies - Note 2	$	2,485,865	$	2,318,721
	Other		444,792		298,216
		$	2,930,657	$	2,616,937

Note_7_Product_Warranties_Tabl

Note 7 - Product Warranties (Tables)	9 Months Ended
	Jun. 28, 2014
Product Warranties Disclosures [Abstract]	'
Schedule of Product Warranty Liability [Table Text Block]	'
		Nine Months Ended
		June 28,			June 29,
		2014			2013
	Accrued liability at beginning of period	$	318,824		$	378,643
	Increase in reserve		91,954			98,276
	Claims settled		(158,258	)		(124,887	)
	Accrued liability at end of period	$	252,520		$	352,032

Note_8_Earnings_Per_Share_of_C1

Note 8 - Earnings Per Share of Common Stock (Tables)	9 Months Ended
	Jun. 28, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
		Three Months Ended				Nine Months Ended
		June 28,		June 29,		June 28,		June 29,
		2014		2013		2014		2013
	Numerator for basic and diluted earnings per share:
	Net income	$	378,053	$	1,222,884	$	1,934,864	$	3,820,330
	Denominator:
	Denominator for basic earnings per share:
	Weighted average shares		2,961,128		2,951,894		2,944,653		2,939,057
	Effect of dilutive securities:
	Employee stock options		43,598		50,673		46,471		54,260
	Denominator for diluted earnings per share:
	Adjusted weighted average shares and assumed conversions		3,004,726		3,002,567		2,991,124		2,993,317
	Net income per share of common stock:
	Basic	$	0.13	$	0.41	$	0.66	$	1.3
	Diluted	$	0.13	$	0.41	$	0.65	$	1.28

Note_9_Operations_and_Industry1

Note 9 - Operations and Industry Segments (Tables)	9 Months Ended
	Jun. 28, 2014
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information, by Segment [Table Text Block]	'
		Three Months Ended						Nine Months Ended
		June 28,			June 29,			June 28,			June 29,
		2014			2013			2014			2013
	Net sales:
	Medical	$	10,293,467		$	13,427,180		$	32,062,039		$	36,319,007
	Custom products		2,957,518			5,194,032			10,750,752			20,585,620
	Total	$	13,250,985		$	18,621,212		$	42,812,791		$	56,904,627
	Operating profit (loss) before corporate expense:
	Medical	$	756,035		$	1,816,406		$	2,927,520		$	4,129,152
	Custom products		(61,915	)		179,703			419,756			2,074,631
	Total		694,120			1,996,109			3,347,276			6,203,783
	Corporate expense		(131,116	)		(181,888	)		(438,470	)		(499,459	)
	Other income (expense)		13,049			(2,337	)		35,058			(39,994	)
	Income before income taxes	$	576,053		$	1,811,884		$	2,943,864		$	5,664,330

Note_2_Fair_Value_of_Financial2

Note 2 - Fair Value of Financial Instruments (Details) - Fair Value Measurement of Assets (USD $)	Jun. 28, 2014	Sep. 28, 2013
Note 2 - Fair Value of Financial Instruments (Details) - Fair Value Measurement of Assets [Line Items]	'	'
Fair market value	$2,485,865	$2,318,721
Fair Value, Inputs, Level 2 [Member]	'	'
Note 2 - Fair Value of Financial Instruments (Details) - Fair Value Measurement of Assets [Line Items]	'	'
Fair market value	$2,485,865	$2,318,721

Note_3_Inventories_Details_Com

Note 3 - Inventories (Details) - Components of Inventories (USD $)	Jun. 28, 2014	Sep. 28, 2013
Components of Inventories [Abstract]	'	'
Raw materials	$5,299,902	$5,054,462
Work in process	818,287	698,786
Finished goods	982,623	1,412,702
Reserve for obsolescence	-411,000	-720,000
	$6,689,812	$6,445,950

Note_4_Property_and_Equipment_1

Note 4 - Property and Equipment (Details) - Property and Equipment (USD $)	Jun. 28, 2014	Sep. 28, 2013
Property and Equipment [Abstract]	'	'
Land	$469,718	$469,718
Land improvements	486,698	486,698
Buildings	6,923,249	6,910,251
Machinery and equipment	8,848,298	8,233,213
Furniture and fixtures	490,371	488,346
Construction in process	76,920	201,873
Automobiles	11,396	11,461
	17,306,650	16,801,560
Less accumulated depreciation	12,305,900	11,665,025
	$5,000,750	$5,136,535

Note_5_Intangibles_Details_Int

Note 5 - Intangibles (Details) - Intangible Assets (USD $)	Jun. 28, 2014	Sep. 28, 2013
Intangible Assets [Abstract]	'	'
Patents and trademarks	$2,141,763	$2,103,647
Trade names	422,836	437,532
Non-competition agreements	185,288	191,727
Customer relationships	3,108,084	3,216,105
	5,857,971	5,949,011
Less accumulated amortization	-2,797,529	-2,518,662
Net intangibles	$3,060,442	$3,430,349

Note_6_Other_Assets_Details_Ot

Note 6 - Other Assets (Details) - Other Assets (USD $)	Jun. 28, 2014	Sep. 28, 2013
Other Assets [Abstract]	'	'
Cash value of life insurance policies - Note 2	$2,485,865	$2,318,721
Other	444,792	298,216
	$2,930,657	$2,616,937

Note_7_Product_Warranties_Deta

Note 7 - Product Warranties (Details) - Changes in Product Warranty Liability (USD $)	9 Months Ended
	Jun. 28, 2014	Jun. 29, 2013
Changes in Product Warranty Liability [Abstract]	'	'
Accrued liability at beginning of period	$318,824	$378,643
Increase in reserve	91,954	98,276
Claims settled	-158,258	-124,887
Accrued liability at end of period	$252,520	$352,032

Note_8_Earnings_Per_Share_of_C2

Note 8 - Earnings Per Share of Common Stock (Details) - Basic and Diluted Earnings Per Share (USD $)	3 Months Ended		9 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013
Basic and Diluted Earnings Per Share [Abstract]	'	'	'	'
Net income (in Dollars)	$378,053	$1,222,884	$1,934,864	$3,820,330
Denominator for basic earnings per share:	'	'	'	'
Weighted average shares	2,961,128	2,951,894	2,944,653	2,939,057
Effect of dilutive securities:	'	'	'	'
Employee stock options	43,598	50,673	46,471	54,260
Denominator for diluted earnings per share:	'	'	'	'
Adjusted weighted average shares and assumed conversions	3,004,726	3,002,567	2,991,124	2,993,317
Net income per share of common stock:	'	'	'	'
Basic (in Dollars per share)	$0.13	$0.41	$0.66	$1.30
Diluted (in Dollars per share)	$0.13	$0.41	$0.65	$1.28

Note_9_Operations_and_Industry2

Note 9 - Operations and Industry Segments (Details)	9 Months Ended
	Jun. 28, 2014
Segment Reporting [Abstract]	'
Number of Reportable Segments	2

Note_9_Operations_and_Industry3

Note 9 - Operations and Industry Segments (Details) - Information on Industry Segments (USD $)	3 Months Ended		9 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	$13,250,985	$18,621,212	$42,812,791	$56,904,627
Operating profit	694,120	1,996,109	3,347,276	6,203,783
Other income (expense)	13,049	-2,337	35,058	-39,994
Income before income taxes	576,053	1,811,884	2,943,864	5,664,330
Medical [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	10,293,467	13,427,180	32,062,039	36,319,007
Operating profit	756,035	1,816,406	2,927,520	4,129,152
Custom Products [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	2,957,518	5,194,032	10,750,752	20,585,620
Operating profit	-61,915	179,703	419,756	2,074,631
Corporate Segment [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Corporate expense	($131,116)	($181,888)	($438,470)	($499,459)