Insteel Industries (IIIN) 10-Q 15 Jan 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Dec. 27, 2014	Jan. 14, 2014
Entity Registrant Name	INSTEEL INDUSTRIES INC
Entity Central Index Key	764401
Current Fiscal Year End Date	7
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		18,377,251
Document Type	10-Q
Document Period End Date	27-Dec-14
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE

Consolidated_Statements_of_Ope

Consolidated Statements of Operations and Comprehensive Income (Unaudited) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013
Net sales	$110,628	$87,218
Cost of sales	98,585	78,163
Gross profit	12,043	9,055
Selling, general and administrative expense	5,652	4,705
Other income, net	-40	-32
Interest expense	94	56
Interest income		-5
Earnings before income taxes	6,337	4,331
Income taxes	2,187	1,584
Net earnings	4,150	2,747
Net earnings per share:
Basic (in dollars per share)	$0.23	$0.15
Diluted (in dollars per share)	$0.22	$0.15
Weighted average shares outstanding:
Basic (in shares)	18,377	18,189
Diluted (in shares)	18,820	18,587
Cash dividends declared per share (in dollars per share)	$0.03	$0.03
Comprehensive income	$4,150	$2,747

Consolidated_Balance_Sheets_Cu

Consolidated Balance Sheets (Current Period Unaudited) (USD $)	Dec. 27, 2014	Sep. 27, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$11	$3,050
Accounts receivable, net	40,688	51,211
Inventories	87,464	81,899
Other current assets	4,784	6,433
Total current assets	132,947	142,593
Property, plant and equipment, net	91,443	90,386
Intangibles, net	9,600	9,816
Goodwill	6,965	6,965
Other assets	7,102	7,035
Total assets	248,057	256,795
Current liabilities:
Accounts payable	30,874	52,811
Accrued expenses	9,096	10,375
Total current liabilities	39,970	63,186
Long-term debt	10,000
Other liabilities	15,163	14,726
Commitments and contingencies
Shareholders' equity:
Common stock	18,377	18,377
Additional paid-in capital	59,309	58,867
Retained earnings	107,028	103,429
Accumulated other comprehensive loss	-1,790	-1,790
Total shareholders' equity	182,924	178,883
Total liabilities and shareholders' equity	$248,057	$256,795

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013
Cash Flows From Operating Activities:
Net earnings	$4,150	$2,747
Adjustments to reconcile net earnings to net cash provided by (used for) operating activities:
Depreciation and amortization	2,869	2,424
Amortization of capitalized financing costs	26	26
Stock-based compensation expense	442	408
Deferred income taxes	935	319
Excess tax benefits from stock-based compensation		-86
Gain on sale of property, plant and equipment	-77
Increase in cash surrender value of life insurance policies over premiums paid	-136	-289
Net changes in assets and liabilities (net of assets and liabilities acquired):
Accounts receivable, net	10,360	7,356
Inventories	-5,565	-11,233
Accounts payable and accrued expenses	-22,716	4,387
Other changes	199	263
Total adjustments	-13,663	3,575
Net cash provided by (used for) operating activities	-9,513	6,322
Cash Flows From Investing Activities:
Capital expenditures	-3,515	-1,984
Acquisition of business	411
Proceeds from sale of property, plant and equipment	89
Proceeds from surrender of life insurance policies	40	28
Increase in cash surrender value of life insurance policies		-99
Net cash used for investing activities	-2,975	-2,055
Cash Flows From Financing Activities:
Proceeds from long-term debt	47,757	118
Principal payments on long-term debt	-37,757	-118
Cash dividends paid	-551	-546
Cash received from exercise of stock options		12
Excess tax benefits from stock-based compensation		86
Payment of employee tax withholdings related to net share transactions		-274
Net cash provided by (used for) financing activities	9,449	-722
Net increase (decrease) in cash and cash equivalents	-3,039	3,545
Cash and cash equivalents at beginning of period	3,050	15,440
Cash and cash equivalents at end of period	11	18,985
Supplemental Disclosures of Cash Flow Information:
Interest	16	2
Income taxes, net	45	33
Non-cash investing and financing activities:
Purchases of property, plant and equipment in accounts payable	206	740
Restricted stock units and stock options surrendered for withholding taxes payable		274
Post-closing purchase price adjustment for business acquired	$65

Consolidated_Statements_of_Sha

Consolidated Statements of Shareholder's Equity (Unaudited) (USD $)	Total	Accumulated Other Comprehensive Income (Loss) [Member]	Additional Paid-in Capital [Member]	Common Stock [Member]	Retained Earnings [Member]
In Thousands
Balance at Sep. 27, 2014	$178,883	($1,790)	$58,867	$18,377	$103,429
Balance (in shares) at Sep. 27, 2014				18,377
Net earnings	4,150				4,150
Compensation expense associated with stock-based plans	442		442
Cash dividends declared	-551				-551
Balance at Dec. 27, 2014	$182,924	($1,790)	$59,309	$18,377	$107,028
Balance (in shares) at Dec. 27, 2014				18,377

Note_1_Basis_of_Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Dec. 27, 2014
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	(1) Basis of Presentation
	The accompanying unaudited interim consolidated financial statements of Insteel Industries, Inc. (“we,” “us,” “our,” “the Company” or “Insteel”) have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q. Certain information and note disclosures normally included in the audited financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. The September 27, 2014 consolidated balance sheet was derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by GAAP for complete financial statements. These financial statements should therefore be read in conjunction with the consolidated financial statements and notes for the fiscal year ended September 27, 2014 included in the Company’s Annual Report on Form 10-K filed with the SEC.
	The accompanying unaudited interim consolidated financial statements reflect all adjustments of a normal recurring nature that the Company considers necessary for a fair presentation of results for these interim periods. The results of operations for the three-month period ended December 27, 2014 are not necessarily indicative of the results that may be expected for the fiscal year ending October 3, 2015 or future periods.
	On August 15, 2014, the Company through its wholly-owned subsidiary, Insteel Wire Products (“IWP”), purchased substantially all of the assets associated with the prestressed concrete strand (“PC strand”) business of American Spring Wire Corporation (“ASW”) (see Note 3 to the consolidated financial statements).
	The Company has
	evaluated subsequent events through the time of filing this Quarterly Report on Form 10-Q and has concluded that there are no significant events that occurred subsequent to the balance sheet date but prior to the filing of this report that would have a material impact on the consolidated financial statements
	.

Note_2_Recent_Accounting_Prono

Note 2 - Recent Accounting Pronouncements	3 Months Ended
	Dec. 27, 2014
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	(2) Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09 “Revenue from Contracts with Customers,” which will supersede nearly all existing revenue recognition guidance under GAAP. ASU No. 2014-09 provides that an entity recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. ASU No. 2014-09 allows for either full retrospective or modified retrospective adoption and will become effective for the Company in the first quarter of fiscal 2018. The Company is evaluating the alternative transition methods and the potential effects of the adoption of this update on its financial statements.

Note_3_Business_Combination

Note 3 - Business Combination	3 Months Ended
	Dec. 27, 2014
Notes to Financial Statements
Business Combination Disclosure [Text Block]	(3) Business Combination
	On August 15, 2014, the Company purchased substantially all of the assets associated with the PC strand business of ASW for an adjusted purchase price of $33.5 million, subject to certain additional post-closing adjustments (the “ASW Acquisition”).
	ASW manufactured PC strand at facilities located in Houston, Texas and Newnan, Georgia. The Company acquired, among other assets, the accounts receivable and inventories related to ASW’s PC strand business, the production equipment at its facility in Houston, Texas and its production equipment and facility in Newnan, Georgia. Pursuant to an agreement with ASW, the Company is leasing the Houston facility from ASW with an option to purchase it in the future. In addition, the Company assumed certain of ASW’s accounts payable and accrued liabilities related to its PC strand business.
	Following is a summary of the Company’s preliminary allocation of the adjusted purchase price to the fair values of the assets acquired and liabilities assumed as of the date of the ASW Acquisition:
	(In thousands)
	Assets acquired:
	Accounts receivable	$	7,854
	Inventories		6,292
	Other current assets		786
	Property, plant and equipment		8,638
	Intangibles		8,530
	Total assets acquired	$	32,100
	Liabilities assumed:
	Accounts payable	$	3,240
	Accrued expenses		2,358
	Total liabilities assumed		5,598
	Net assets acquired		26,502
	Purchase price		33,467
	Goodwill	$	6,965
	In connection with the ASW Acquisition, the Company acquired intangible assets consisting of customer relationships, developed technology and know-how, and a non-competition agreement. The ASW Acquisition was accounted for as a business purchase pursuant to Accounting Standards Codification (“ASC”) Topic 805,
	Business Combinations
	. Acquisition and integration costs are not included as components of consideration transferred, but are recorded as expenses in the period in which such costs are incurred.
	The following unaudited supplemental pro forma financial information reflects the combined results of operations of the Company had the ASW Acquisition occurred at the beginning of fiscal 2013. The pro forma information reflects certain adjustments related to the ASW Acquisition, including adjusted amortization and depreciation expense based on the fair value of the assets acquired and interest expense related to the borrowings on the Company’s revolving credit facility. The pro forma information does not reflect any operating efficiencies or potential cost savings that may result from the ASW Acquisition. Accordingly, this pro forma information is for illustrative purposes and is not intended to represent or be indicative of the actual results of operations of the combined company that may have been achieved had the ASW Acquisition occurred at the beginning of fiscal 2013, nor is it intended to represent or be indicative of future results of operations. The pro forma combined results of operations for the prior year quarter are as follows:
		December 28,
	(In thousands)	2013
	Net sales	$	102,747
	Earnings before income taxes		5,201
	Net earnings		3,464
	Restructuring charges.
	Subsequent to the ASW Acquisition, in fiscal 2014 the Company incurred employee separation costs for staffing reductions related to the acquisition. Following is a summary of the restructuring activity during the three-month period ended December 27, 2014:
	(In thousands)	Employee
		Separation Costs
	Liability as of September 27, 2014	$	1,208
	Cash payments		(53	)
	Liability as of December 27, 2014	$	1,155
	As of December 27, 2014 and September 27, 2014, the Company recorded a liability of $1.2 million on its consolidated balance sheet for restructuring liabilities, including $0.5 million in accrued expenses and $0.7 million in other liabilities.

Note_4_Fair_Value_Measurements

Note 4 - Fair Value Measurements	3 Months Ended
	Dec. 27, 2014
Notes to Financial Statements
Fair Value Disclosures [Text Block]	(4) Fair Value Measurements
	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The authoritative guidance for fair value measurements establishes a three-level fair value hierarchy that encourages an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs used to measure fair value are as follows:
	Level 1 - Quoted prices in active markets for identical assets or liabilities.
	Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets.
	Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities, including certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.
	As of December 27, 2014 and September 27, 2014, the Company held financial assets that are required to be measured at fair value on a recurring basis. The financial assets held by the Company and the fair value hierarchy used to determine their fair values are as follows:
	(In thousands)	Total at		Quoted Prices		Observable
		December 27,		in Active		Inputs
		2014		Markets		(Level 2)
				(Level 1)
	Current assets:
	Cash equivalents	$	1,490	$	1,490	$	-
	Other assets:
	Cash surrender value of life insurance policies		6,963		-		6,963
	Total	$	8,453	$	1,490	$	6,963
	(In thousands)	Total at		Quoted Prices		Observable
		September 27,		in Active		Inputs
		2014		Markets		(Level 2)
				(Level 1)
	Current assets:
	Cash equivalents	$	3,320	$	3,320	$	-
	Other assets:
	Cash surrender value of life insurance policies		6,867		-		6,867
	Total	$	10,187	$	3,320	$	6,867
	Cash equivalents, which include all highly liquid investments with original maturities of three months or less, are classified as Level 1 of the fair value hierarchy. The carrying amount of the Company’s cash equivalents, which consist of investments in money market funds, approximates fair value due to their short maturities. Cash surrender value of life insurance policies are classified as Level 2. The fair value of the life insurance policies was determined by the underwriting insurance company’s valuation models and represents the guaranteed value the Company would receive upon surrender of these policies as of the reporting date.
	As of December 27, 2014 and September 27, 2014, the Company did not have any nonfinancial assets that were required to be measured at fair value on a nonrecurring basis other than the assets and liabilities that were acquired from ASW at fair value (see Note 3 to the consolidated financial statements). The carrying amounts of accounts receivable, accounts payable and accrued expenses approximates fair value due to the short-term maturities of these financial instruments. As of December 27, 2014, the carrying amount of long-term debt outstanding under the Company’s revolving credit facility approximates its estimated fair value.
	The estimated fair value of long-term debt is primarily based upon quoted market prices as well as borrowing rates currently available to the Company for bank loans with similar terms and maturities.

Note_5_Intangible_Assets

Note 5 - Intangible Assets	3 Months Ended
	Dec. 27, 2014
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	(5) Intangible Assets
	The primary components of the Company’s intangible assets and the related accumulated amortization are as follows:
	(In thousands)	Gross		Accumulated Amortization			Net Book Value
	As of December 27, 2014:
	Customer relationships	$	6,500	$	(119	)	$	6,381
	Developed technology and know-how		1,800		(33	)		1,767
	Non-competition agreements		2,117		(665	)		1,452
		$	10,417	$	(817	)	$	9,600
	(In thousands)	Gross		Accumulated Amortization			Net Book Value
	As of September 27, 2014:
	Customer relationships	$	6,500	$	(38	)	$	6,462
	Developed technology and know-how		1,800		(11	)		1,789
	Non-competition agreements		2,117		(552	)		1,565
		$	10,417	$	(601	)	$	9,816
	Amortization expense for intangibles was $216,000 and $94,000 for the three-month periods ended December 27, 2014 and December 28, 2013, respectively.

Note_6_StockBased_Compensation

Note 6 - Stock-Based Compensation	3 Months Ended
	Dec. 27, 2014
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	(6) Stock-Based Compensation
	Under the Company’s equity incentive plans, employees and directors may be granted stock options, restricted stock, restricted stock units and performance awards. As of December 27, 2014, there were 387,000 shares available for future grants under the plans.
	Stock
	o
	ptions
	.
	Under the Company’s equity incentive plans, employees and directors may be granted options to purchase shares of the Company’s common stock at the fair market value on the date of the grant. Options granted under these plans generally vest over three years and expire ten years from the date of the grant. Compensation expense and excess tax benefits associated with stock options for the three-month periods ended December 27, 2014 and December 28, 2013 are as follows:
		Three Months Ended
		December 27,		December 28,
	(In thousands)	2014		2013
	Stock options:
	Compensation expense	$	173	$	165
	Excess tax benefits		-		(86	)
	As of December 27, 2014, the remaining unamortized compensation cost related to unvested stock option awards was $279,000, which is expected to be recognized over a weighted average period of 1.53 years.
	The following table summarizes stock option activity for the three-month period ended December 27, 2014:
									Contractual
									Term -	Aggregate
		Options		Exercise Price Per Share					Weighted	Intrinsic
		Outstanding					Weighted		Average	Value
		(in thousands)		Range			Average		(years)	(in thousands)
	Outstanding at September 27, 2014		871	$6.89	-	$20.50	$	14.23
	Exercised		-	-	-	-		-
	Outstanding at December 27, 2014		871	6.89	-	20.5		14.23	6.16	$	7,947
	Vested and anticipated to vest in the		869					14.23	6.15		7,935
	future at December 27, 2014
	Exercisable at December 27, 2014		594					12.85	4.98		6,246
	Stock option exercises include “net exercises,” pursuant to which the optionee received shares of common stock equal to the intrinsic value of the options (fair market value of common stock on the date of exercise less exercise price) reduced by any applicable withholding taxes.
	Restricted stock uni
	t
	s.
	Restricted stock units (“RSUs”) granted under the Company’s equity incentive plans are valued based upon the fair market value on the date of the grant and provide for a dividend equivalent payment which is included in compensation expense. The vesting period for RSUs is generally one year from the date of the grant for RSUs granted to directors and three years from the date of the grant for RSUs granted to employees. RSUs do not have voting rights. RSU compensation expense for the three-month periods ended December 27, 2014 and December 28, 2013 is as follows:
		Three Months Ended
		December 27,		December 28,
	(In thousands)	2014		2013
	Compensation expense	$	269	$	243
	As of December 27, 2014, the remaining unrecognized compensation cost related to unvested RSUs was $477,000, which is expected to be recognized over a weighted average vesting period of 1.74 years.
	The following table summarizes RSU activity during the three-month period ended December 27, 2014:
				Weighted
		Restricted		Average
		Stock Units		Grant Date
	(Unit amounts in thousands)	Outstanding		Fair Value
	Balance, September 27, 2014		197	$	15.68
	Granted		-		-
	Released		-		-
	Balance, December 27, 2014		197	$	15.68

Note_7_Income_Taxes

Note 7 - Income Taxes	3 Months Ended
	Dec. 27, 2014
Notes to Financial Statements
Income Tax Disclosure [Text Block]	(7) Income Taxes
	Effective income tax rate
	.
	The Company’s effective income tax rate was 34.5% for the three-month period ended December 27, 2014 compared with 36.6% for the three-month period ended December 28, 2013. The year-over-year reduction in the effective rate was primarily due to changes in permanent book versus tax differences. The effective income tax rates for both periods were based upon the estimated rate applicable for the entire fiscal year adjusted to reflect any significant items related specifically to interim periods.
	Deferred income taxes.
	As of December 27, 2014, the Company has recorded a current deferred tax asset (net of valuation allowance) of $1.5 million in other current assets and a non-current deferred tax liability of $6.9 million in other liabilities on its consolidated balance sheet. The Company has $13.5 million of state net operating loss carryforwards (“NOLs”) that begin to expire in 2017, but principally expire between 2017 and 2032. The Company has also recorded $220,000 of gross deferred tax assets for various state tax credits that begin to expire in 2015, but principally expire between 2015 and 2020.
	In accordance with ASC Topic 740
	Income Taxes
	, the Company evaluates its deferred tax assets to determine if a valuation allowance is required based on the consideration of all available evidence using a “more likely than not” standard, with significant weight being given to evidence that can be objectively verified. The realization of the Company’s deferred tax assets is entirely dependent upon the Company’s ability to generate future taxable income in applicable jurisdictions. Since the Company operates in multiple jurisdictions, it assesses the need for a valuation allowance on a jurisdiction-by-jurisdiction basis, considering the applicable tax laws. The Company recorded a valuation allowance of $547,000 as of December 27, 2014 and September 27, 2014 pertaining to various state NOLs and tax credits that were not expected to be utilized.
	The valuation allowance established by the Company is subject to periodic review and adjustment based on changes in facts and circumstances and would be reduced should the Company utilize the state NOLs and tax credits against which an allowance had previously been provided or determine that such utilization was more likely than not.
	Uncertainty in income taxes
	.
	Based on management’s judgment, as of December 27, 2014, the Company has no material, known tax exposures that require the establishment of a liability for uncertain tax positions.
	The Company files U.S. federal income tax returns as well as state and local income tax returns in various jurisdictions. Federal and various state tax returns filed by the Company subsequent to 2009 remain subject to examination together with certain state tax returns filed by the Company subsequent to 2003.

Note_8_Employee_Benefit_Plans

Note 8 - Employee Benefit Plans	3 Months Ended
	Dec. 27, 2014
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	(8) Employee Benefit Plans
	Retirement plans.
	The Company has one defined benefit pension plan, the Insteel Wire Products Company Retirement Income Plan for Hourly Employees, Wilmington, Delaware (the “Delaware Plan”). The Delaware Plan provides benefits for eligible employees based primarily upon years of service and compensation levels. The Delaware Plan was frozen effective September 30, 2008 whereby participants no longer earn additional service benefits.
	The Company’s funding policy is to contribute amounts at least equal to those required by law. The Company made contributions totaling $52,000 to the Delaware Plan during the three-month period ended December 27, 2014 and expects to contribute an additional $182,000 during the remainder of the current fiscal year.
	Net periodic pension costs and related components for the Delaware Plan for the three-month periods ended December 27, 2014 and December 28, 2013 are as follows:
		Three Months Ended
		December 27,			December 28,
	(In thousands)	2014			2013
	Interest cost	$	33		$	34
	Expected return on plan assets		(45	)		(41	)
	Recognized net actuarial loss		13			11
	Net periodic pension cost	$	1		$	4
	Supplemental employee retirement plan
	.
	The Company maintains supplemental employee retirement plans (each, a “SERP”) with certain of its employees (each, a “Participant”). Under the SERPs, if the Participant remains in continuous service with the Company for a period of at least 30 years, the Company will pay to the Participant a supplemental retirement benefit for the 15-year period following the Participant’s retirement equal to 50% of the Participant’s highest average annual base salary for five consecutive years in the 10-year period preceding the Participant’s retirement. If the Participant retires prior to the later of age 65 or the completion of 30 years of continuous service with the Company, but has completed at least 10 years of continuous service with the Company, the amount of the supplemental retirement benefit will be reduced by 1/360th for each month short of 30 years that the Participant was employed by the Company.
	Net periodic benefit costs and related components for the SERPs for the three-month periods ended December 27, 2014 and December 28, 2013 are as follows:
		Three Months Ended
		December 27,			December 28,
	(In thousands)	2014			2013
	Service cost	$	72		$	55
	Interest cost		81			79
	Recognized net actuarial loss		29			13
	Net periodic benefit cost	$	182		$	147

Note_9_LongTerm_Debt

Note 9 - Long-Term Debt	3 Months Ended
	Dec. 27, 2014
Notes to Financial Statements
Long-term Debt [Text Block]	(9) Long-Term Debt
	Revolving Credit Facility
	.
	The Company has a revolving credit facility (the “Credit Facility”) that is used to supplement its operating cash flow and fund its working capital, capital expenditure, general corporate and growth requirements. The Credit Facility provides for up to $100.0 million of financing and matures on June 2, 2016. Advances under the Credit Facility are limited to the lesser of the revolving loan commitment amount (currently $100.0 million) or a borrowing base amount that is calculated based upon a percentage of eligible receivables and inventories. As of December 27, 2014, $10.0 million was outstanding on the Credit Facility, $81.4 million of additional borrowing capacity was available and outstanding letters of credit totaled $1.5 million.
	Interest rates on the Credit Facility are based upon (1) an index rate that is established at the highest of the prime rate, 0.50% plus the federal funds rate or the LIBOR rate plus the excess of the then-applicable margin for LIBOR loans over the then-applicable margin for index rate loans, or (2) at the election of the Company, a LIBOR rate, plus in either case, an applicable interest rate margin. The applicable interest rate margins are adjusted on a quarterly basis based upon the amount of excess availability on the Credit Facility within the range of 0.50% - 1.25% for index rate loans and 1.50% - 2.50% for LIBOR loans. In addition, the applicable interest rate margins would be increased by 2.00% upon the occurrence of certain events of default provided for under the terms of the Credit Facility. Based on the Company’s excess availability as of December 27, 2014, the applicable interest rate margins on the Credit Facility were 0.50% for index rate loans and 1.50% for LIBOR loans.
	The Company’s ability to borrow available amounts under the Credit Facility will be restricted or eliminated in the event of certain covenant breaches, events of default or if the Company is unable to make certain representations and warranties provided for under the terms of the Credit Facility. The Company is required to maintain a fixed charge coverage ratio of not less than 1.10 at the end of each fiscal quarter for the twelve-month period then ended when the amount of liquidity on the Credit Facility is less than $13.5 million. In addition, the terms of the Credit Facility restrict the Company’s ability to, among other things: engage in certain business combinations or divestitures; make investments in or loans to third parties, unless certain conditions are met with respect to such investments or loans; pay cash dividends or repurchase shares of the Company’s stock subject to certain minimum borrowing availability requirements; incur or assume indebtedness; issue securities; enter into certain transactions with affiliates of the Company; or permit liens to encumber the Company’s property and assets. The terms of the Credit Facility also provide that an event of default will occur with respect to the Company upon the occurrence of, among other things: defaults or breaches under the loan documents, subject in certain cases to cure periods; defaults or breaches by the Company or any of its subsidiaries under any agreement resulting in the acceleration of amounts above certain thresholds or payment defaults above certain thresholds; certain events of bankruptcy or insolvency with respect to the Company; certain entries of judgment against the Company or any of its subsidiaries, which are not covered by insurance; or a change of control of the Company. As of December 27, 2014, the Company was in compliance with all of the financial and negative covenants under the Credit Facility and there have not been any events of default.
	Amortization of capitalized financing costs associated with the Credit Facility was $26,000 for each of the three-month periods ended December 27, 2014 and December 28, 2013. Accumulated amortization of capitalized financing costs was $4.4 million as of December 27, 2014 and September 27, 2014.

Note_10_Earnings_Per_Share

Note 10 - Earnings Per Share	3 Months Ended
	Dec. 27, 2014
Notes to Financial Statements
Earnings Per Share [Text Block]	(
	10
	)
	Earnings
	Per Share
	The computations of basic and diluted earnings per share attributable to common shareholders for the three-month periods ended December 27, 2014 and December 28, 2013 are as follows:
		Three Months Ended
		December 27,		December 28,
	(In thousands except per share amounts)	2014		2013
	Net earnings available to common shareholders	$	4,150	$	2,747
	Basic weighted average shares outstanding		18,377		18,189
	Dilutive effect of stock-based compensation		443		398
	Diluted weighted average shares outstanding	$	18,820	$	18,587
	Net earnings per share:
	Basic	$	0.23	$	0.15
	Diluted	$	0.22	$	0.15
	Options representing 25,000 and 123,000 shares for the three-month periods ended December 27, 2014 and December 28, 2013, respectively, were antidilutive and not included in the diluted earnings per share calculation.

Note_11_Share_Repurchases

Note 11 - Share Repurchases	3 Months Ended
	Dec. 27, 2014
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	(
	11
	) Share Repurchases
	On November 18, 2008, the Company’s board of directors approved a share repurchase authorization to buy back up to $25.0 million of the Company’s outstanding common stock (the “Authorization”). Under the Authorization, repurchases may be made from time to time in the open market or in privately negotiated transactions subject to market conditions, applicable legal requirements and other factors. The Company is not obligated to acquire any particular amount of common stock and the program may be commenced or suspended at any time at the Company’s discretion without prior notice. The Authorization continues in effect until terminated by the Board of Directors. As of December 27, 2014, there was $24.8 million remaining available for future share repurchases under this authorization. No repurchases of common stock were made during the three-month periods ended December 27, 2014 and December 28, 2013.

Note_12_Other_Financial_Data

Note 12 - Other Financial Data	3 Months Ended
	Dec. 27, 2014
Notes to Financial Statements
Other Financial Data [Text Block]	(12
	)
	Other Financial Data
	Balance sheet information:
		December 27,			September 27,
	(In thousands)	2014			2014
	Accounts receivable, net:
	Accounts receivable	$	41,487		$	52,099
	Less allowance for doubtful accounts		(799	)		(888	)
	Total	$	40,688		$	51,211
	Inventories:
	Raw materials	$	50,871		$	49,200
	Work in process		3,147			3,789
	Finished goods		33,446			28,910
	Total	$	87,464		$	81,899
	Other current assets:
	Prepaid insurance	$	1,715		$	1,890
	Current deferred tax asset		1,538			2,122
	Other		1,531			2,421
	Total	$	4,784		$	6,433
	Other assets:
	Cash surrender value of life insurance policies	$	6,963		$	6,867
	Capitalized financing costs, net		43			69
	Other		96			99
	Total	$	7,102		$	7,035
	Property, plant and equipment, net:
	Land and land improvements	$	9,704		$	9,704
	Buildings		44,555			42,047
	Machinery and equipment		136,294			133,699
	Construction in progress		5,905			7,648
			196,458			193,098
	Less accumulated depreciation		(105,015	)		(102,712	)
	Total	$	91,443		$	90,386
	Accrued expenses:
	Salaries, wages and related expenses	$	2,619		$	4,659
	Customer rebates		1,879			1,530
	Property taxes		1,342			1,242
	Pension plan		774			825
	Restructuring liabilities		501			481
	Accrued income taxes		447			-
	Deferred revenues		419			525
	Workers' compensation		288			290
	Interest		45			28
	Other		782			795
	Total	$	9,096		$	10,375
	Other liabilities:
	Deferred compensation	$	7,541		$	7,426
	Deferred income taxes		6,923			6,572
	Other		699			728
	Total	$	15,163		$	14,726

Note_13_Business_Segment_Infor

Note 13 - Business Segment Information	3 Months Ended
	Dec. 27, 2014
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	(13) Business Segment Information
	The Company’s operations are entirely focused on the manufacture and marketing of concrete reinforcing products for the concrete construction industry. The Company’s concrete reinforcing products consist of welded wire reinforcement and PC strand. Based on the criteria specified in ASC Topic 280,
	Segment Reporting
	, the Company has one reportable segment.

Note_14_Contingencies

Note 14 - Contingencies	3 Months Ended
	Dec. 27, 2014
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	(14) Contingencies
	Insurance recoveries.
	On January 21, 2014, a fire occurred at the Company’s Gallatin, Tennessee PC strand manufacturing facility. The fire damaged a portion of the facility, requiring the temporary curtailment of operations until the necessary repairs were completed. The Company shifted a portion of its production requirements to its PC strand facility located in Sanderson, Florida, which was operating at a reduced utilization level. During the first quarter of fiscal 2015, the Company completed the remainder of the repairs and the Gallatin facility was fully operational as of December 27, 2014.
	The Company maintains general liability, business interruption and replacement cost property insurance coverage on its facilities that it believes is sufficient to cover the losses incurred from the fire. During the three months ended December 27, 2014, the Company recorded a $257,000 receivable for the anticipated insurance proceeds related to the costs that were incurred during the period related to the fire. The insurance proceeds attributable to these additional expenses were recorded in cost of sales ($244,000) and selling, general and administrative expense ($13,000) on the consolidated statement of operations and comprehensive income. The Company is currently pursuing a final settlement of this claim with its insurance carrier.
	Legal proceedings
	.
	The Company is involved in legal proceedings, claims, investigations and proceedings, including commercial, environmental and employment matters, which arise in the ordinary course of business. The Company does not expect that the ultimate costs to resolve these matters will have a material adverse effect on its financial position, results of operations or cash flows.

Note_3_Business_Combination_Ta

Note 3 - Business Combination (Tables)	3 Months Ended
	Dec. 27, 2014
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(In thousands)
	Assets acquired:
	Accounts receivable	$	7,854
	Inventories		6,292
	Other current assets		786
	Property, plant and equipment		8,638
	Intangibles		8,530
	Total assets acquired	$	32,100
	Liabilities assumed:
	Accounts payable	$	3,240
	Accrued expenses		2,358
	Total liabilities assumed		5,598
	Net assets acquired		26,502
	Purchase price		33,467
	Goodwill	$	6,965
Business Acquisition, Pro Forma Information [Table Text Block]		December 28,
	(In thousands)	2013
	Net sales	$	102,747
	Earnings before income taxes		5,201
	Net earnings		3,464
Restructuring and Related Costs [Table Text Block]	(In thousands)	Employee
		Separation Costs
	Liability as of September 27, 2014	$	1,208
	Cash payments		(53	)
	Liability as of December 27, 2014	$	1,155

Note_4_Fair_Value_Measurements1

Note 4 - Fair Value Measurements (Tables)	3 Months Ended
	Dec. 27, 2014
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	(In thousands)	Total at		Quoted Prices		Observable
		December 27,		in Active		Inputs
		2014		Markets		(Level 2)
				(Level 1)
	Current assets:
	Cash equivalents	$	1,490	$	1,490	$	-
	Other assets:
	Cash surrender value of life insurance policies		6,963		-		6,963
	Total	$	8,453	$	1,490	$	6,963
	(In thousands)	Total at		Quoted Prices		Observable
		September 27,		in Active		Inputs
		2014		Markets		(Level 2)
				(Level 1)
	Current assets:
	Cash equivalents	$	3,320	$	3,320	$	-
	Other assets:
	Cash surrender value of life insurance policies		6,867		-		6,867
	Total	$	10,187	$	3,320	$	6,867

Note_5_Intangible_Assets_Table

Note 5 - Intangible Assets (Tables)	3 Months Ended
	Dec. 27, 2014
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	(In thousands)	Gross		Accumulated Amortization			Net Book Value
	As of December 27, 2014:
	Customer relationships	$	6,500	$	(119	)	$	6,381
	Developed technology and know-how		1,800		(33	)		1,767
	Non-competition agreements		2,117		(665	)		1,452
		$	10,417	$	(817	)	$	9,600
	(In thousands)	Gross		Accumulated Amortization			Net Book Value
	As of September 27, 2014:
	Customer relationships	$	6,500	$	(38	)	$	6,462
	Developed technology and know-how		1,800		(11	)		1,789
	Non-competition agreements		2,117		(552	)		1,565
		$	10,417	$	(601	)	$	9,816

Note_6_StockBased_Compensation1

Note 6 - Stock-Based Compensation (Tables)	3 Months Ended
	Dec. 27, 2014
Notes Tables
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]		Three Months Ended
		December 27,		December 28,
	(In thousands)	2014		2013
	Stock options:
	Compensation expense	$	173	$	165
	Excess tax benefits		-		(86	)
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]									Contractual
									Term -	Aggregate
		Options		Exercise Price Per Share					Weighted	Intrinsic
		Outstanding					Weighted		Average	Value
		(in thousands)		Range			Average		(years)	(in thousands)
	Outstanding at September 27, 2014		871	$6.89	-	$20.50	$	14.23
	Exercised		-	-	-	-		-
	Outstanding at December 27, 2014		871	6.89	-	20.5		14.23	6.16	$	7,947
	Vested and anticipated to vest in the		869					14.23	6.15		7,935
	future at December 27, 2014
	Exercisable at December 27, 2014		594					12.85	4.98		6,246
Schedule of RSU Grants and Compensation Expense [Table Text Block]		Three Months Ended
		December 27,		December 28,
	(In thousands)	2014		2013
	Compensation expense	$	269	$	243
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]				Weighted
		Restricted		Average
		Stock Units		Grant Date
	(Unit amounts in thousands)	Outstanding		Fair Value
	Balance, September 27, 2014		197	$	15.68
	Granted		-		-
	Released		-		-
	Balance, December 27, 2014		197	$	15.68

Note_8_Employee_Benefit_Plans_

Note 8 - Employee Benefit Plans (Tables)	3 Months Ended
	Dec. 27, 2014
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]		Three Months Ended
		December 27,			December 28,
	(In thousands)	2014			2013
	Interest cost	$	33		$	34
	Expected return on plan assets		(45	)		(41	)
	Recognized net actuarial loss		13			11
	Net periodic pension cost	$	1		$	4
		Three Months Ended
		December 27,			December 28,
	(In thousands)	2014			2013
	Service cost	$	72		$	55
	Interest cost		81			79
	Recognized net actuarial loss		29			13
	Net periodic benefit cost	$	182		$	147

Note_10_Earnings_Per_Share_Tab

Note 10 - Earnings Per Share (Tables)	3 Months Ended
	Dec. 27, 2014
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]		Three Months Ended
		December 27,		December 28,
	(In thousands except per share amounts)	2014		2013
	Net earnings available to common shareholders	$	4,150	$	2,747
	Basic weighted average shares outstanding		18,377		18,189
	Dilutive effect of stock-based compensation		443		398
	Diluted weighted average shares outstanding	$	18,820	$	18,587
	Net earnings per share:
	Basic	$	0.23	$	0.15
	Diluted	$	0.22	$	0.15

Note_12_Other_Financial_Data_T

Note 12 - Other Financial Data (Tables)	3 Months Ended
	Dec. 27, 2014
Notes Tables
Condensed Balance Sheet [Table Text Block]		December 27,			September 27,
	(In thousands)	2014			2014
	Accounts receivable, net:
	Accounts receivable	$	41,487		$	52,099
	Less allowance for doubtful accounts		(799	)		(888	)
	Total	$	40,688		$	51,211
	Inventories:
	Raw materials	$	50,871		$	49,200
	Work in process		3,147			3,789
	Finished goods		33,446			28,910
	Total	$	87,464		$	81,899
	Other current assets:
	Prepaid insurance	$	1,715		$	1,890
	Current deferred tax asset		1,538			2,122
	Other		1,531			2,421
	Total	$	4,784		$	6,433
	Other assets:
	Cash surrender value of life insurance policies	$	6,963		$	6,867
	Capitalized financing costs, net		43			69
	Other		96			99
	Total	$	7,102		$	7,035
	Property, plant and equipment, net:
	Land and land improvements	$	9,704		$	9,704
	Buildings		44,555			42,047
	Machinery and equipment		136,294			133,699
	Construction in progress		5,905			7,648
			196,458			193,098
	Less accumulated depreciation		(105,015	)		(102,712	)
	Total	$	91,443		$	90,386
	Accrued expenses:
	Salaries, wages and related expenses	$	2,619		$	4,659
	Customer rebates		1,879			1,530
	Property taxes		1,342			1,242
	Pension plan		774			825
	Restructuring liabilities		501			481
	Accrued income taxes		447			-
	Deferred revenues		419			525
	Workers' compensation		288			290
	Interest		45			28
	Other		782			795
	Total	$	9,096		$	10,375
	Other liabilities:
	Deferred compensation	$	7,541		$	7,426
	Deferred income taxes		6,923			6,572
	Other		699			728
	Total	$	15,163		$	14,726

Note_3_Business_Combination_De

Note 3 - Business Combination (Details Textual) (ASW Acquisition [Member], USD $)	0 Months Ended
	Aug. 15, 2014	Dec. 27, 2014	Sep. 27, 2014
Disclosure Text Block [Abstract]
Restructuring Reserve		$1,200,000	$1,200,000
Business Combination, Consideration Transferred	33,500,000
Accounts Payable and Accrued Liabilities [Member]
Disclosure Text Block [Abstract]
Restructuring Reserve		500,000	500,000
Other Liabilities [Member]
Disclosure Text Block [Abstract]
Restructuring Reserve		$700,000	$700,000

Note_3_Business_Combination_Pu

Note 3 - Business Combination - Purchase Price Allocation Schedule (Details) (USD $)	Aug. 15, 2014
In Thousands, unless otherwise specified
ASW Acquisition [Member]
Assets acquired:
Accounts receivable	$7,854
Inventories	6,292
Other current assets	786
Property, plant and equipment	8,638
Intangibles	8,530
Total assets acquired	32,100
Liabilities assumed:
Accounts payable	3,240
Accrued expenses	2,358
Total liabilities assumed	5,598
Net assets acquired	26,502
Purchase price	33,467
Goodwill	$6,965

Note_3_Business_Combination_Pr

Note 3 - Business Combination - Pro forma Combined Results of Operations (Details) (ASW Acquisition [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2013
ASW Acquisition [Member]
Net sales	$102,747
Earnings before income taxes	5,201
Net earnings	$3,464

Note_3_Business_Combination_Re

Note 3 - Business Combination - Restructuring Charges (Details) (Employee Severance [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 27, 2014
Employee Severance [Member]
Liability as of September 27, 2014	$1,208
Cash payments	-53
Liability as of December 27, 2014	$1,155

Note_4_Fair_Value_Measurements2

Note 4 - Fair Value Measurements (Details Textual) (Non Financial [Member], USD $)	Dec. 27, 2014	Sep. 27, 2014
Non Financial [Member]
Disclosure Text Block [Abstract]
Assets, Fair Value Disclosure, Nonrecurring	$0	$0

Note_4_Fair_Value_Measurements3

Note 4 - Fair Value Measurements - Fair Value of Financial Assets (Details) (USD $)	Dec. 27, 2014	Sep. 27, 2014
In Thousands, unless otherwise specified
Current assets:
Cash equivalents	$1,490	$3,320
Other assets
Cash surrender value of life insurance policies	6,963	6,867
Total	8,453	10,187
Fair Value, Inputs, Level 1 [Member]
Current assets:
Cash equivalents	1,490	3,320
Other assets
Total	1,490	3,320
Fair Value, Inputs, Level 2 [Member]
Other assets
Cash surrender value of life insurance policies	6,963	6,867
Total	$6,963	$6,867

Note_5_Intangible_Assets_Detai

Note 5 - Intangible Assets (Details Textual) (USD $)	3 Months Ended
	Dec. 27, 2014	Dec. 28, 2013
Disclosure Text Block [Abstract]
Amortization of Intangible Assets	$216,000	$94,000

Note_5_Intangible_Assets_Intan

Note 5 - Intangible Assets - Intangible Assets (Details) (USD $)	Dec. 27, 2014	Sep. 27, 2014
In Thousands, unless otherwise specified
Gross	$10,417	$10,417
Accumulated Amortization	-817	-601
Net Book Value	9,600	9,816
Customer Relationships [Member]
Gross	6,500	6,500
Accumulated Amortization	-119	-38
Net Book Value	6,381	6,462
Noncompete Agreements [Member]
Gross	2,117	2,117
Accumulated Amortization	-665	-552
Net Book Value	1,452	1,565
Technology-Based Intangible Assets [Member]
Gross	1,800	1,800
Accumulated Amortization	-33	-11
Net Book Value	$1,767	$1,789

Note_6_StockBased_Compensation2

Note 6 - Stock-Based Compensation (Details Textual) (USD $)	3 Months Ended
	Dec. 27, 2014
Disclosure Text Block [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	387,000
Employee Stock Option [Member]
Disclosure Text Block [Abstract]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	279,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 193 days
Restricted Stock Units (RSUs) [Member]
Disclosure Text Block [Abstract]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 270 days
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	477,000
Restricted Stock Units (RSUs) [Member] | Director [Member]
Disclosure Text Block [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Restricted Stock Units (RSUs) [Member] | Employees [Member]
Disclosure Text Block [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years

Note_6_StockBased_Compensation3

Note 6 - Stock-Based Compensation - Compensation Expense and Excess Tax Benefits Associated with Stock Options (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013
Stock options:
Excess tax benefits		($86)
Employee Stock Option [Member]
Stock options:
Compensation expense	$173	$165

Note_6_StockBased_Compensation4

Note 6 - Stock-Based Compensation - Stock Option Activity (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 27, 2014	Sep. 27, 2014
Outstanding (in shares)	871,000
Exercised (in shares)	0
Outstanding (in shares)	871,000
Outstanding	6 years 58 days
Outstanding	$7,947
Vested and anticipated to vest in the future (in shares)	869,000
Vested and anticipated to vest in the future	6 years 54 days
Vested and anticipated to vest in the future	7,935
Exercisable (in shares)	594,000
Exercisable	4 years 357 days
Exercisable	$6,246
Maximum [Member]
Outstanding (in dollars per share)		$20.50
Outstanding (in dollars per share)	$20.50	$20.50
Minimum [Member]
Outstanding (in dollars per share)		$6.89
Outstanding (in dollars per share)	$6.89	$6.89
Weighted Average [Member]
Outstanding (in dollars per share)		$14.23
Outstanding (in dollars per share)	$14.23	$14.23
Vested and anticipated to vest in the future (in dollars per share)	$14.23
Exercisable (in dollars per share)	$12.85

Note_6_StockBased_Compensation5

Note 6 - Stock-Based Compensation - RSU Grants and Compensation Expense (Details) (Restricted Stock Units (RSUs) [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013
Restricted Stock Units (RSUs) [Member]
Compensation expense	$269	$243

Note_6_StockBased_Compensation6

Note 6 - Stock-Based Compensation - Restricted Stock and Restricted Stock Unit Activity (Details) (Restricted Stock Units (RSUs) [Member], USD $)	Dec. 27, 2014	Sep. 27, 2014
In Thousands, except Per Share data, unless otherwise specified
Restricted Stock Units (RSUs) [Member]
Beginning balance (in shares)	197	197
Beginning balance (in dollars per share)	$15.68	$15.68
Ending balance (in shares)	197	197
Ending balance (in dollars per share)	$15.68	$15.68

Note_7_Income_Taxes_Details_Te

Note 7 - Income Taxes (Details Textual) (USD $)	3 Months Ended
	Dec. 27, 2014	Dec. 28, 2013	Sep. 27, 2014
Disclosure Text Block [Abstract]
Deferred Tax Assets, Valuation Allowance	$547,000		$547,000
Effective Income Tax Rate Reconciliation, Percent	34.50%	36.60%
Deferred Tax Liabilities, Net, Noncurrent	6,923,000		6,572,000
State and Local Jurisdiction [Member]
Disclosure Text Block [Abstract]
Operating Loss Carryforwards	13,500,000
Deferred Tax Assets, Tax Credit Carryforwards	220,000
Other Current Assets [Member]
Disclosure Text Block [Abstract]
Deferred Tax Assets, Net of Valuation Allowance, Current	1,500,000
Other Liabilities [Member]
Disclosure Text Block [Abstract]
Deferred Tax Liabilities, Net, Noncurrent	$6,900,000

Note_8_Employee_Benefit_Plans_1

Note 8 - Employee Benefit Plans (Details Textual) (USD $)	3 Months Ended
	Dec. 27, 2014
Disclosure Text Block [Abstract]
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year	$182,000
Pension Contributions	$52,000
Supplemental Employee Retirement Plan [Member]
Disclosure Text Block [Abstract]
Defined Benefit Plan Number of Years in Average Annual Base Salary	5 years
Supplemental Retirement Benefit Period	15 years
Defined Benefit Plan Percent of Highest Average Salary Base	50.00%
Defined Benefit Plan Number of Years Preceding Retirement for Average Annual Base Salary Calculation	10 years
Supplemental Employee Retirement Plan [Member] | Minimum [Member]
Disclosure Text Block [Abstract]
Defined Benefit Plan Employment Term	30 years
Reduced SERP [Member]
Disclosure Text Block [Abstract]
Defined Benefit Plan Retirement Age	65 years
Reduced SERP [Member] | Minimum [Member]
Disclosure Text Block [Abstract]
Defined Benefit Plan Employment Term	10 years

Note_8_Employee_Benefit_Plans_2

Note 8 - Employee Benefit Plans - Net Periodic Pension Costs and Related Components (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013
Pension Plan [Member]
Interest cost	$33	$34
Expected return on plan assets	-45	-41
Recognized net actuarial loss	13	11
Net periodic pension cost	1	4
Net periodic benefit cost	1	4
Supplemental Employee Retirement Plan [Member]
Interest cost	81	79
Recognized net actuarial loss	29	13
Net periodic pension cost	182	147
Service cost	72	55
Net periodic benefit cost	$182	$147

Note_9_LongTerm_Debt_Details_T

Note 9 - Long-Term Debt (Details Textual) (USD $)	3 Months Ended
	Dec. 27, 2014	Dec. 28, 2013	Sep. 27, 2014
Disclosure Text Block [Abstract]
Amortization of Financing Costs	$26,000	$26,000
Accumulated Amortization, Deferred Finance Costs	4,400,000		4,400,000
Letter of Credit [Member]
Disclosure Text Block [Abstract]
Letters of Credit Outstanding, Amount	1,500,000
Revolving Credit Facility [Member]
Disclosure Text Block [Abstract]
Long-term Line of Credit	10,000,000
Line of Credit Facility, Remaining Borrowing Capacity	81,400,000
Amortization of Financing Costs	26,000	26,000
Line of Credit Facility, Current Borrowing Capacity	100,000,000
Debt Instrument, Interest Rate, Increase (Decrease)	2.00%
Fixed Charge Coverage Ratio	1.1
Credit Facility Liquidity Amount	$13,500,000
Revolving Credit Facility [Member] | Base Rate [Member]
Disclosure Text Block [Abstract]
Line of Credit Facility, Interest Rate at Period End	0.50%
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Disclosure Text Block [Abstract]
Line of Credit Facility, Interest Rate at Period End	1.50%
Revolving Credit Facility [Member] | Prime Rate [Member]
Disclosure Text Block [Abstract]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Revolving Credit Facility [Member] | Maximum [Member] | Base Rate [Member]
Disclosure Text Block [Abstract]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Revolving Credit Facility [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Disclosure Text Block [Abstract]
Debt Instrument, Basis Spread on Variable Rate	2.50%
Revolving Credit Facility [Member] | Minimum [Member] | Base Rate [Member]
Disclosure Text Block [Abstract]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Revolving Credit Facility [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Disclosure Text Block [Abstract]
Debt Instrument, Basis Spread on Variable Rate	1.50%

Note_10_Earnings_Per_Share_Det

Note 10 - Earnings Per Share (Details Textual) (Stock Compensation Plan [Member])	3 Months Ended
	Dec. 27, 2014	Dec. 28, 2013
Stock Compensation Plan [Member]
Disclosure Text Block [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	25,000	123,000

Note_10_Earnings_Per_Share_Bas

Note 10 - Earnings Per Share - Basic and Diluted Earnings Per Share Attributable to Common Shareholders (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013
Net earnings	$4,150	$2,747
Basic weighted average shares outstanding (in shares)	18,377	18,189
Dilutive effect of stock-based compensation (in shares)	443	398
Diluted weighted average shares outstanding (in shares)	18,820	18,587
Net earnings per share:
Basic (in dollars per share)	$0.23	$0.15
Diluted (in dollars per share)	$0.22	$0.15

Note_11_Share_Repurchases_Deta

Note 11 - Share Repurchases (Details Textual) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013	Nov. 18, 2008
Disclosure Text Block [Abstract]
Stock Repurchased During Period, Shares	0	0
Stock Repurchase Program, Authorized Amount			$25
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$24.80

Note_12_Other_Financial_Data_B

Note 12 - Other Financial Data - Balance Sheet Information (Details) (USD $)	Dec. 27, 2014	Sep. 27, 2014
In Thousands, unless otherwise specified
Accounts receivable, net:
Accounts receivable	$41,487	$52,099
Less allowance for doubtful accounts	-799	-888
Total	40,688	51,211
Inventories:
Raw materials	50,871	49,200
Work in process	3,147	3,789
Finished goods	33,446	28,910
Total	87,464	81,899
Other current assets:
Prepaid insurance	1,715	1,890
Current deferred tax asset	1,538	2,122
Other	1,531	2,421
Total	4,784	6,433
Other assets:
Cash surrender value of life insurance policies	6,963	6,867
Capitalized financing costs, net	43	69
Other	96	99
Total	7,102	7,035
Property, plant and equipment, net:
Land and land improvements	9,704	9,704
Buildings	44,555	42,047
Machinery and equipment	136,294	133,699
Construction in progress	5,905	7,648
	196,458	193,098
Less accumulated depreciation	-105,015	-102,712
Total	91,443	90,386
Accrued expenses:
Salaries, wages and related expenses	2,619	4,659
Customer rebates	1,879	1,530
Property taxes	1,342	1,242
Pension plan	774	825
Restructuring liabilities	501	481
Accrued income taxes	447
Deferred revenues	419	525
Workers' compensation	288	290
Interest	45	28
Other	782	795
Total	9,096	10,375
Other liabilities:
Deferred compensation	7,541	7,426
Deferred income taxes	6,923	6,572
Other	699	728
Total	$15,163	$14,726

Note_13_Business_Segment_Infor1

Note 13 - Business Segment Information (Details Textual)	3 Months Ended
	Dec. 27, 2014
Disclosure Text Block [Abstract]
Number of Reportable Segments	1

Note_14_Contingencies_Details_

Note 14 - Contingencies (Details Textual) (USD $)	3 Months Ended
	Dec. 27, 2014
Disclosure Text Block [Abstract]
Estimated Insurance Recoveries	$257,000
Cost of Sales [Member]
Disclosure Text Block [Abstract]
Insurance Recoveries	244,000
Selling, General and Administrative Expenses [Member]
Disclosure Text Block [Abstract]
Insurance Recoveries	$13,000