Insteel Industries (IIIN) 10-Q 20 Jul 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jul. 01, 2017	Jul. 19, 2017
Document Information [Line Items]
Entity Registrant Name	INSTEEL INDUSTRIES INC
Entity Central Index Key	764,401
Trading Symbol	iiin
Current Fiscal Year End Date	--09-30
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)		19,025,262
Document Type	10-Q
Document Period End Date	Jul. 1, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Net sales	$ 96,938	$ 115,629	$ 291,985	$ 315,434
Cost of sales	80,262	88,082	244,005	252,849
Gross profit	16,676	27,547	47,980	62,585
Selling, general and administrative expense	6,216	6,849	19,535	20,820
Restructuring charges, net	60	58	133	83
Other expense, net	50	223	50	138
Interest expense	34	40	103	121
Interest income	(75)	(53)	(175)	(103)
Earnings before income taxes	10,391	20,430	28,334	41,526
Income taxes	3,522	6,899	9,585	14,135
Net earnings	$ 6,869	$ 13,531	$ 18,749	$ 27,391
Net earnings per share:
Basic (in dollars per share)	$ 0.36	$ 0.72	$ 0.99	$ 1.47
Diluted (in dollars per share)	$ 0.36	$ 0.71	$ 0.98	$ 1.44
Weighted average shares outstanding:
Basic (in shares)	19,025	18,867	19,003	18,690
Diluted (in shares)	19,225	19,135	19,219	19,011
Cash dividends declared per share (in dollars per share)	$ 0.03	$ 0.03	$ 1.34	$ 1.09
Comprehensive income	$ 6,869	$ 13,531	$ 18,749	$ 27,391

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jul. 01, 2017	Oct. 01, 2016
Assets
Cash and cash equivalents	$ 37,848	$ 58,873
Accounts receivable, net	42,307	47,389
Inventories	83,682	71,186
Other current assets	5,182	3,039
Total current assets	169,019	180,487
Property, plant and equipment, net	99,383	88,193
Intangibles, net	8,195	9,063
Goodwill	6,965	6,965
Other assets	8,934	8,184
Total assets	292,496	292,892
Liabilities and shareholders' equity
Accounts payable	48,079	42,759
Accrued expenses	7,606	11,024
Total current liabilities	55,685	53,783
Other liabilities	17,644	14,543
Commitments and contingencies
Shareholders' equity:
Common stock	19,025	18,976
Additional paid-in capital	69,060	67,817
Retained earnings	132,623	139,314
Accumulated other comprehensive loss	(1,541)	(1,541)
Total shareholders' equity	219,167	224,566
Total liabilities and shareholders' equity	$ 292,496	$ 292,892

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jul. 01, 2017	Jul. 02, 2016
Cash Flows From Operating Activities:
Net earnings	$ 18,749,000	$ 27,391,000
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	8,576,000	8,529,000
Amortization of capitalized financing costs	48,000	48,000
Stock-based compensation expense	1,343,000	1,521,000
Deferred income taxes	2,705,000	597,000
Asset impairment charges		20,000
Excess tax benefits from stock-based compensation	(488,000)	(1,244,000)
Loss on sale and disposition of property, plant and equipment	49,000	15,000
Increase in cash surrender value of life insurance policies over premiums paid	(568,000)	(268,000)
Net changes in assets and liabilities:
Accounts receivable, net	5,082,000	(2,644,000)
Inventories	(12,496,000)	2,095,000
Accounts payable and accrued expenses	290,000	7,981,000
Other changes	(1,739,000)	1,613,000
Total adjustments	2,802,000	18,263,000
Net cash provided by operating activities	21,551,000	45,654,000
Cash Flows From Investing Activities:
Capital expenditures	(16,855,000)	(9,077,000)
Proceeds from surrender of life insurance policies	100,000	134,000
Increase in cash surrender value of life insurance policies	(330,000)	(324,000)
Proceeds from sale of assets held for sale		180,000
Proceeds from sale of property, plant and equipment		60,000
Net cash used for investing activities	(17,085,000)	(9,027,000)
Cash Flows From Financing Activities:
Proceeds from long-term debt	322,000	273,000
Principal payments on long-term debt	(322,000)	(273,000)
Cash dividends paid	(25,440,000)	(20,289,000)
Cash received from exercise of stock options	107,000	4,312,000
Excess tax benefits from stock-based compensation	488,000	1,244,000
Payment of employee tax withholdings related to net share transactions	(646,000)	(1,303,000)
Financing costs		(11,000)
Net cash used for financing activities	(25,491,000)	(16,047,000)
Net increase (decrease) in cash and cash equivalents	(21,025,000)	20,580,000
Cash and cash equivalents at beginning of period	58,873,000	33,258,000
Cash and cash equivalents at end of period	37,848,000	53,838,000
Supplemental Disclosures of Cash Flow Information:
Income taxes, net	6,796,000	12,166,000
Non-cash investing and financing activities:
Purchases of property, plant and equipment in accounts payable	2,092,000	460,000
Restricted stock units and stock options surrendered for withholding taxes payable	$ 646,000	$ 1,303,000

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - 9 months ended Jul. 01, 2017 - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Oct. 01, 2016	18,976
Balance at Oct. 01, 2016	$ 18,976	$ 67,817	$ 139,314	$ (1,541)	$ 224,566
Net earnings			18,749		$ 18,749
Stock options exercised, net (in shares)	26				67
Stock options exercised, net	$ 26	81			$ 107
Vesting of restricted stock units (in shares)	23
Vesting of restricted stock units	$ 23	(23)
Compensation expense associated with stock-based plans		1,343			1,343
Excess tax benefits from stock-based compensation		488			488
Restricted stock units and stock options surrendered for withholding taxes payable		(646)			(646)
Cash dividends declared			(25,440)		(25,440)
Balance (in shares) at Jul. 01, 2017	19,025
Balance at Jul. 01, 2017	$ 19,025	$ 69,060	$ 132,623	$ (1,541)	$ 219,167

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	( 1 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 United States (“U.S.”) Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10 not October 1, 2016 not October 1, 2016 10 The accompanying unaudited interim consolidated financial statements reflect all adjustments of a normal recurring nature that we consider necessary for a fair presentation of results for these interim periods. The results of operations for the nine July 1, 2017 not may September 30, 2017 We have 10 no .

Note 2 - Recent Accounting Pron

Note 2 - Recent Accounting Pronouncements	9 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	( 2 In May 2017, FASB”) issued Accounting Standards Update (“ASU”) No. 2017 09 718 No. 2017 09 No. 2017 09 first 2020. In August 2016, No. 2016 15 230: No. 2016 15 No. 2016 15 first 2019. not In March 2016, No. 2016 09 718: No. 2016 09 first 2018. We are evaluating the impact that the adoption of this update will have on our consolidated financial statements. In February 2016, No. 2016 02 840. No. 2016 02 12 No. 2016 02 first 2020. In July 2015, No. 2015 11 No. 2015 11 first 2018. not In May 2014, No. 2014 09 No. 2014 09 No. 2014 09 first 2019. not not

Note 3 - Restructuring Charges

Note 3 - Restructuring Charges	9 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	( 3 On August 15, 2014, $33.5 $480,000 Subsequent to the ASW Acquisition, in fiscal 2014, February 2015, March 2015. Following is a summary of the restructuring activities and associated costs that were incurred during the three nine July 1, 2017 July 2, 2016: Severance and Asset (In thousands) Equipment Other Employee Facility Gain on Sale Impairment Relocation Costs Separation Costs Closure Costs of Equipment Charges Total 2017 Liability as of October 1, 2016 $ 31 $ 239 $ - $ - $ - $ 270 Restructuring charges 48 - - - - 48 Cash payments (79 ) (74 ) - - - (153 ) Liability as of December 31, 2016 - 165 - - - 165 Restructuring charges 25 - - - - 25 Cash payments (25 ) (68 ) - - - (93 ) Liability as of April 1, 2017 - 97 - - - 97 Restructuring charges 60 - - - - 60 Cash payments (60 ) (79 ) - - - (139 ) Liability as of July 1, 2017 $ - $ 18 $ - $ - $ - $ 18 2016 Liability as of October 3, 2015 $ - $ 735 $ - $ - $ - $ 735 Restructuring charges (recoveries) 75 - 30 (180 ) - (75 ) Cash receipts (payments) (75 ) (72 ) (30 ) 180 - 3 Liability as of January 2, 2016 - 663 - - - 663 Restructuring charges 21 - 59 - 20 100 Cash payments (21 ) (59 ) (39 ) - - (119 ) Non-cash charges - - - - (20 ) (20 ) Liability as of April 2, 2016 - 604 20 - - 624 Restructuring charges 58 - - - - 58 Cash payments - (51 ) (20 ) - - (71 ) Liability as of July 2, 2016 $ 58 $ 553 $ - $ - $ - $ 611 As of July 1, 2017, $18,000 October 1, 2016, $0.3 $0.1 $0.2 not 2017.

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	9 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 4 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 three 1 Level 2 1, Level 3 no As of July 1, 2017 October 1, 2016, (In thousands) Total Quoted Prices in Active Markets (Level 1) Observable Inputs (Level 2) As of July 1, 2017: Current assets: Cash equivalents $ 39,317 $ 39,317 $ - Other assets: Cash surrender value of life insurance policies 8,707 - 8,707 Total $ 48,024 $ 39,317 $ 8,707 As of October 1, 2016: Current assets: Cash equivalents $ 58,846 $ 58,846 $ - Other assets: Cash surrender value of life insurance policies 7,909 - 7,909 Total $ 66,755 $ 58,846 $ 7,909 Cash equivalents, which include all highly liquid investments with original maturities of three 1 2. As of July 1, 2017 October 1, 2016, no

Note 5 - Intangible Assets

Note 5 - Intangible Assets	9 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	( 5 The primary components of our intangible assets and the related accumulated amortization are as follows: (In thousands) Gross Amount Accumulated Amortization Net Book Value As of July 1, 2017: Customer relationships $ 6,500 $ (937 ) $ 5,563 Developed technology and know-how 1,800 (260 ) 1,540 Non-competition agreements 3,577 (2,485 ) 1,092 $ 11,877 $ (3,682 ) $ 8,195 As of October 1, 2016: Customer relationships $ 6,500 $ (693 ) $ 5,807 Developed technology and know-how 1,800 (192 ) 1,608 Non-competition agreements 3,577 (1,929 ) 1,648 $ 11,877 $ (2,814 ) $ 9,063 $289,000 three July 1, 2017 July 2, 2016, $868,000 nine July 1, 2017 July 2, 2016.

Note 6 - Stock-based Compensati

Note 6 - Stock-based Compensation	9 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	( 6 Under our equity incentive plans, employees and directors may February 17, 2015, 2015 “2015 900,000 2015 February 17, 2025, 2005 February 15, 2015. July 1, 2017, 503,000 2015 Stock o ption awards . may three ten Three Months Ended Nine Months Ended July 1, July 2, July 1, July 2, (In thousands) 2017 2016 2017 2016 Compensation expense $ 78 $ 97 $ 585 $ 563 As of July 1, 2017, $259,000 1.40 The fair value of each option award granted is estimated on the date of grant using a Monte Carlo valuation model. The estimated fair values of stock options granted during the nine July 1, 2017 July 2, 2016 $13.66 $8.69 Nine Months Ended July 1, July 2, 2017 2016 Risk-free interest rate 2.03 % 1.39 % Dividend yield 0.33 % 0.53 % Expected volatility 38.79 % 39.23 % Expected term (in years) 5.12 5.75 The assumptions utilized in the Monte Carlo valuation model are evaluated and revised, as necessary, to reflect market conditions and actual historical experience. The risk-free interest rate for periods within the contractual life of the option was based on the U.S. Treasury yield curve in effect at the time of the grant. The dividend yield was calculated based on our annual dividend as of the option grant date. The expected volatility was derived using a term structure based on historical volatility and the volatility implied by exchange-traded options on our common stock. The expected term for options was based on the results of a Monte Carlo simulation model, using the model’s estimated fair value as an input to the Black-Scholes-Merton model, and then solving for the expected term. The following table summarizes stock option activity: Contractual Aggregate Options Exercise Price Per Share Term - Weighted Intrinsic Outstanding Weighted Average Value (in thousands) Range Average (in years) (in thousands) Outstanding at October 1, 2016 371 $ 9.16 - $ 34.49 $ 20.81 Granted 36 37.06 - 37.06 37.06 Exercised (67 ) 9.16 - 23.95 19.05 $ 1,212 Outstanding at July 1, 2017 340 9.16 - 37.06 22.88 7.55 3,638 Vested and anticipated to vest in the future at July 1, 2017 335 22.84 7.54 3,605 Exercisable at July 1, 2017 135 17.37 6.06 2,103 Stock option exercises include “net exercises” for 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. one three not Three Months Ended Nine Months Ended July 1, July 2, July 1, July 2, (In thousands) 2017 2016 2017 2016 Restricted stock unit grants: Units - - 19 43 Market value $ - $ - $ 690 $ 1,027 Compensation expense 132 148 758 958 As of July 1, 2017, $532,000 1.51 The following table summarizes RSU activity: Weighted Restricted Average Stock Units Grant Date (Unit amounts in thousands) Outstanding Fair Value Balance, October 1, 2016 145 $ 22.35 Granted 19 37.06 Released (31 ) 20.39 Balance, July 1, 2017 133 24.88

Note 7 - Income Taxes

Note 7 - Income Taxes	9 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	( 7 Effective income tax rate . 33.8% nine July 1, 2017 34.0% nine July 2, 2016. Deferred income taxes. July 1, 2017, $8.2 $7.5 2017, 2017 2031. $87,000 2018, 2018 2020. The realization of our deferred tax assets is entirely dependent upon our ability to generate future taxable income in applicable jurisdictions. GAAP requires that we periodically assess the need to establish a reserve against our deferred tax assets to the extent we no not July 1, 2017 October 1, 2016, $253,000 $280,000, not not. Uncertainty in income taxes . July 1, 2017, no We file 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 subsequent to 2012

Note 8 - Employee Benefit Plans

Note 8 - Employee Benefit Plans	9 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	( 8 Retirement plans. one September 30, 2008 no During the second 2016, May 1, 2016. September 2016, third not October 1, 2016, no Net periodic pension cost for the Delaware Plan in the prior year included the following components: Three Months Ended Nine Months Ended (In thousands) July 2, 2016 July 2, 2016 Interest cost $ 37 $ 111 Expected return on plan assets (44 ) (132 ) Recognized net actuarial loss 19 57 Net periodic pension cost $ 12 $ 36 Supplemental employee retirement plan . 30 15 50% five 10 65 30 10 1/360th 30 Net periodic pension cost for the SERPs includes the following components: Three Months Ended Nine Months Ended July 1, July 2, July 1, July 2, (In thousands) 2017 2016 2017 2016 Service cost $ 86 $ 66 $ 258 $ 198 Interest cost 84 81 254 243 Recognized net actuarial loss 44 21 130 63 Net periodic pension cost $ 214 $ 168 $ 642 $ 504

Note 9 - Long-term Debt

Note 9 - Long-term Debt	9 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Long-term Debt [Text Block]	( 9 Revolving Credit Facility. $100.0 May 2015, June 2, 2016 May 13, 2020. $100.0 July 1, 2017, no $90.1 $1.8 Interest rates on the Credit Facility are based upon ( 1 0.50% 2 0.25% 0.75% 1.25% 1.75% 2.00% July 1, 2017, 0.25% 1.25% Our 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 we are unable to make certain representations and warranties provided for under the terms of the Credit Facility. We are required to maintain a fixed charge coverage ratio of not 1.10 twelve $12.5 third not July 1, 2017, not Amortization of capitalized financing costs associated with the Credit Facility was $16,000 three July 1, 2017 July 2, 2016, $48,000 nine July 1, 2017 July 2, 2016. $4.6 $4.5 July 1, 2017 October 1, 2016,

Note 10 - Earnings Per Share

Note 10 - Earnings Per Share	9 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	( 10 ) Earnings Per Share The computation of basic and diluted earnings per share attributable to common shareholders is as follows: Three Months Ended Nine Months Ended July 1, July 2, July 1, July 2, (In thousands, except per share amounts) 2017 2016 2017 2016 Net earnings available to common shareholders $ 6,869 $ 13,531 $ 18,749 $ 27,391 Basic weighted average shares outstanding 19,025 18,867 19,003 18,690 Dilutive effect of stock-based compensation 200 268 216 321 Diluted weighted average shares outstanding 19,225 19,135 19,219 19,011 Net earnings per share: Basic $ 0.36 $ 0.72 $ 0.99 $ 1.47 Diluted $ 0.36 $ 0.71 $ 0.98 $ 1.44 Options representing 78,000 19,000 three July 1, 2017 July 2, 2016, not 57,000 54,000 nine July 1, 2017 July 2, 2016, not

Note 11 - Share Repurchases

Note 11 - Share Repurchases	9 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	( 11 ) Share Repurchases On November 18, 2008, $25.0 may not may July 1, 2017, $24.8 No three nine July 1, 2017 July 2, 2016.

Note 12 - Other Financial Data

Note 12 - Other Financial Data	9 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Other Financial Data [Text Block]	( 12 ) Other Financial Data Balance sheet information: July 1, October 1, (In thousands) 2017 2016 Accounts receivable, net: Accounts receivable $ 42,552 $ 47,680 Less allowance for doubtful accounts (245 ) (291 ) Total $ 42,307 $ 47,389 Inventories: Raw materials $ 53,306 $ 45,032 Work in process 3,304 2,788 Finished goods 27,072 23,366 Total $ 83,682 $ 71,186 Other current assets: Prepaid insurance $ 3,355 $ 1,805 Income tax receivable 609 - Other 1,218 1,234 Total $ 5,182 $ 3,039 Other assets: Cash surrender value of life insurance policies $ 8,707 $ 7,909 Capitalized financing costs, net 122 170 Other 105 105 Total $ 8,934 $ 8,184 Property, plant and equipment, net: Land and land improvements $ 11,712 $ 9,619 Buildings 49,586 43,739 Machinery and equipment 150,825 143,789 Construction in progress 7,892 11,318 220,015 208,465 Less accumulated depreciation (120,632 ) (120,272 ) Total $ 99,383 $ 88,193 Accrued expenses: Salaries, wages and related expenses $ 4,931 $ 6,619 Customer rebates 1,040 1,296 Property taxes 821 1,328 Sales allowance reserves 147 577 Workers' compensation 120 127 Restructuring liabilities 18 239 Other 529 838 Total $ 7,606 $ 11,024 Other liabilities: Deferred compensation $ 9,467 $ 9,071 Deferred income taxes 8,177 5,472 Total $ 17,644 $ 14,543

Note 13 - Business Segment Info

Note 13 - Business Segment Information	9 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	( 13 two 280, Segment Reporting one

Note 14 - Contingencies

Note 14 - Contingencies	9 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 14 Legal proceedings . not

Note 3 - Restructuring Charges

Note 3 - Restructuring Charges (Tables)	9 Months Ended
	Jul. 01, 2017
Notes Tables
Restructuring and Related Costs [Table Text Block]	Severance and Asset (In thousands) Equipment Other Employee Facility Gain on Sale Impairment Relocation Costs Separation Costs Closure Costs of Equipment Charges Total 2017 Liability as of October 1, 2016 $ 31 $ 239 $ - $ - $ - $ 270 Restructuring charges 48 - - - - 48 Cash payments (79 ) (74 ) - - - (153 ) Liability as of December 31, 2016 - 165 - - - 165 Restructuring charges 25 - - - - 25 Cash payments (25 ) (68 ) - - - (93 ) Liability as of April 1, 2017 - 97 - - - 97 Restructuring charges 60 - - - - 60 Cash payments (60 ) (79 ) - - - (139 ) Liability as of July 1, 2017 $ - $ 18 $ - $ - $ - $ 18 2016 Liability as of October 3, 2015 $ - $ 735 $ - $ - $ - $ 735 Restructuring charges (recoveries) 75 - 30 (180 ) - (75 ) Cash receipts (payments) (75 ) (72 ) (30 ) 180 - 3 Liability as of January 2, 2016 - 663 - - - 663 Restructuring charges 21 - 59 - 20 100 Cash payments (21 ) (59 ) (39 ) - - (119 ) Non-cash charges - - - - (20 ) (20 ) Liability as of April 2, 2016 - 604 20 - - 624 Restructuring charges 58 - - - - 58 Cash payments - (51 ) (20 ) - - (71 ) Liability as of July 2, 2016 $ 58 $ 553 $ - $ - $ - $ 611

Note 4 - Fair Value Measureme21

Note 4 - Fair Value Measurements (Tables)	9 Months Ended
	Jul. 01, 2017
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	(In thousands) Total Quoted Prices in Active Markets (Level 1) Observable Inputs (Level 2) As of July 1, 2017: Current assets: Cash equivalents $ 39,317 $ 39,317 $ - Other assets: Cash surrender value of life insurance policies 8,707 - 8,707 Total $ 48,024 $ 39,317 $ 8,707 As of October 1, 2016: Current assets: Cash equivalents $ 58,846 $ 58,846 $ - Other assets: Cash surrender value of life insurance policies 7,909 - 7,909 Total $ 66,755 $ 58,846 $ 7,909

Note 5 - Intangible Assets (Tab

Note 5 - Intangible Assets (Tables)	9 Months Ended
	Jul. 01, 2017
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	(In thousands) Gross Amount Accumulated Amortization Net Book Value As of July 1, 2017: Customer relationships $ 6,500 $ (937 ) $ 5,563 Developed technology and know-how 1,800 (260 ) 1,540 Non-competition agreements 3,577 (2,485 ) 1,092 $ 11,877 $ (3,682 ) $ 8,195 As of October 1, 2016: Customer relationships $ 6,500 $ (693 ) $ 5,807 Developed technology and know-how 1,800 (192 ) 1,608 Non-competition agreements 3,577 (1,929 ) 1,648 $ 11,877 $ (2,814 ) $ 9,063

Note 6 - Stock-based Compensa23

Note 6 - Stock-based Compensation (Tables)	9 Months Ended
	Jul. 01, 2017
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 Nine Months Ended July 1, July 2, July 1, July 2, (In thousands) 2017 2016 2017 2016 Compensation expense $ 78 $ 97 $ 585 $ 563
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Nine Months Ended July 1, July 2, 2017 2016 Risk-free interest rate 2.03 % 1.39 % Dividend yield 0.33 % 0.53 % Expected volatility 38.79 % 39.23 % Expected term (in years) 5.12 5.75
Share-based Compensation, Stock Options, Activity [Table Text Block]	Contractual Aggregate Options Exercise Price Per Share Term - Weighted Intrinsic Outstanding Weighted Average Value (in thousands) Range Average (in years) (in thousands) Outstanding at October 1, 2016 371 $ 9.16 - $ 34.49 $ 20.81 Granted 36 37.06 - 37.06 37.06 Exercised (67 ) 9.16 - 23.95 19.05 $ 1,212 Outstanding at July 1, 2017 340 9.16 - 37.06 22.88 7.55 3,638 Vested and anticipated to vest in the future at July 1, 2017 335 22.84 7.54 3,605 Exercisable at July 1, 2017 135 17.37 6.06 2,103
Schedule of RSU Grants and Compensation Expense [Table Text Block]	Three Months Ended Nine Months Ended July 1, July 2, July 1, July 2, (In thousands) 2017 2016 2017 2016 Restricted stock unit grants: Units - - 19 43 Market value $ - $ - $ 690 $ 1,027 Compensation expense 132 148 758 958
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, October 1, 2016 145 $ 22.35 Granted 19 37.06 Released (31 ) 20.39 Balance, July 1, 2017 133 24.88

Note 8 - Employee Benefit Pla24

Note 8 - Employee Benefit Plans (Tables)	9 Months Ended
	Jul. 01, 2017
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Three Months Ended Nine Months Ended (In thousands) July 2, 2016 July 2, 2016 Interest cost $ 37 $ 111 Expected return on plan assets (44 ) (132 ) Recognized net actuarial loss 19 57 Net periodic pension cost $ 12 $ 36 Three Months Ended Nine Months Ended July 1, July 2, July 1, July 2, (In thousands) 2017 2016 2017 2016 Service cost $ 86 $ 66 $ 258 $ 198 Interest cost 84 81 254 243 Recognized net actuarial loss 44 21 130 63 Net periodic pension cost $ 214 $ 168 $ 642 $ 504

Note 10 - Earnings Per Share (T

Note 10 - Earnings Per Share (Tables)	9 Months Ended
	Jul. 01, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Nine Months Ended July 1, July 2, July 1, July 2, (In thousands, except per share amounts) 2017 2016 2017 2016 Net earnings available to common shareholders $ 6,869 $ 13,531 $ 18,749 $ 27,391 Basic weighted average shares outstanding 19,025 18,867 19,003 18,690 Dilutive effect of stock-based compensation 200 268 216 321 Diluted weighted average shares outstanding 19,225 19,135 19,219 19,011 Net earnings per share: Basic $ 0.36 $ 0.72 $ 0.99 $ 1.47 Diluted $ 0.36 $ 0.71 $ 0.98 $ 1.44

Note 12 - Other Financial Data

Note 12 - Other Financial Data (Tables)	9 Months Ended
	Jul. 01, 2017
Notes Tables
Condensed Balance Sheet [Table Text Block]	July 1, October 1, (In thousands) 2017 2016 Accounts receivable, net: Accounts receivable $ 42,552 $ 47,680 Less allowance for doubtful accounts (245 ) (291 ) Total $ 42,307 $ 47,389 Inventories: Raw materials $ 53,306 $ 45,032 Work in process 3,304 2,788 Finished goods 27,072 23,366 Total $ 83,682 $ 71,186 Other current assets: Prepaid insurance $ 3,355 $ 1,805 Income tax receivable 609 - Other 1,218 1,234 Total $ 5,182 $ 3,039 Other assets: Cash surrender value of life insurance policies $ 8,707 $ 7,909 Capitalized financing costs, net 122 170 Other 105 105 Total $ 8,934 $ 8,184 Property, plant and equipment, net: Land and land improvements $ 11,712 $ 9,619 Buildings 49,586 43,739 Machinery and equipment 150,825 143,789 Construction in progress 7,892 11,318 220,015 208,465 Less accumulated depreciation (120,632 ) (120,272 ) Total $ 99,383 $ 88,193 Accrued expenses: Salaries, wages and related expenses $ 4,931 $ 6,619 Customer rebates 1,040 1,296 Property taxes 821 1,328 Sales allowance reserves 147 577 Workers' compensation 120 127 Restructuring liabilities 18 239 Other 529 838 Total $ 7,606 $ 11,024 Other liabilities: Deferred compensation $ 9,467 $ 9,071 Deferred income taxes 8,177 5,472 Total $ 17,644 $ 14,543

Note 3 - Restructuring Charge27

Note 3 - Restructuring Charges (Details Textual) - USD ($)	Aug. 15, 2014	Jul. 01, 2017	Oct. 01, 2016
Restructuring Reserve, Current		$ 18,000	$ 300,000
Accounts Payable, Current [Member}
Restructuring Reserve, Current			100,000
Accrued Expenses, Current [Member]
Restructuring Reserve, Current			$ 200,000
ASW Acquisition [Member]
Business Combination, Consideration Transferred	$ 33,500,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred	$ 480,000

Note 3 - Restructuring Charge28

Note 3 - Restructuring Charges - Summaries of the Restructuring Activities and Associated Costs Incurred (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Jul. 02, 2016	Apr. 02, 2016	Jan. 02, 2016
Non-cash charges					$ (20)
Cash receipts (payments)						$ 3
Liability, end of period	$ 18	$ 97	$ 165	$ 611	624	663
Liability, beginning of period	97	165	270	624	663	735
Restructuring charges	60	25	48	58	100	(75)
Cash payments	(139)	(93)	(153)	(71)	(119)
Equipment Relocation Costs [Member]
Non-cash charges
Cash receipts (payments)						(75)
Liability, end of period				58
Liability, beginning of period			31
Restructuring charges	60	25	48	58	21	75
Cash payments	(60)	(25)	(79)		(21)
Employee Severance [Member]
Non-cash charges
Cash receipts (payments)						(72)
Liability, end of period	18	97	165	553	604	663
Liability, beginning of period	97	165	239	604	663	735
Restructuring charges
Cash payments	(79)	(68)	(74)	(51)	(59)
Facility Closing [Member]
Non-cash charges
Cash receipts (payments)						(30)
Liability, end of period					20
Liability, beginning of period				20
Restructuring charges					59	30
Cash payments				(20)	(39)
Gain on Sale of Property and Equipment [Member]
Non-cash charges
Cash receipts (payments)						180
Liability, end of period
Liability, beginning of period
Restructuring charges						(180)
Cash payments
Asset Impairment Charges [Member]
Non-cash charges					(20)
Cash receipts (payments)
Liability, end of period
Liability, beginning of period
Restructuring charges					20
Cash payments

Note 4 - Fair Value Measureme29

Note 4 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Jul. 01, 2017	Oct. 01, 2016
Non Financial [Member]
Assets, Fair Value Disclosure, Nonrecurring	$ 0	$ 0

Note 4 - Fair Value Measureme30

Note 4 - Fair Value Measurements - Fair Value of Financial Assets (Details) - USD ($) $ in Thousands	Jul. 01, 2017	Oct. 01, 2016
Cash equivalents	$ 39,317	$ 58,846
Cash surrender value of life insurance policies	8,707	7,909
Total	48,024	66,755
Fair Value, Inputs, Level 1 [Member]
Cash equivalents	39,317	58,846
Cash surrender value of life insurance policies
Total	39,317	58,846
Fair Value, Inputs, Level 2 [Member]
Cash equivalents
Cash surrender value of life insurance policies	8,707	7,909
Total	$ 8,707	$ 7,909

Note 5 - Intangible Assets (Det

Note 5 - Intangible Assets (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Amortization of Intangible Assets	$ 289,000	$ 289,000	$ 868,000	$ 289,000

Note 5 - Intangible Assets - In

Note 5 - Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Jul. 01, 2017	Oct. 01, 2016
Accumulated Amortization	$ (3,682)	$ (2,814)
Net Book Value	8,195	9,063
Gross Amount	11,877	11,877
Customer Relationships [Member]
Accumulated Amortization	(937)	(693)
Net Book Value	5,563	5,807
Gross Amount	6,500	6,500
Technology-Based Intangible Assets [Member]
Accumulated Amortization	(260)	(192)
Net Book Value	1,540	1,608
Gross Amount	1,800	1,800
Noncompete Agreements [Member]
Accumulated Amortization	(2,485)	(1,929)
Net Book Value	1,092	1,648
Gross Amount	$ 3,577	$ 3,577

Note 6 - Stock-based Compensa33

Note 6 - Stock-based Compensation (Details Textual) - USD ($)	9 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Feb. 17, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			900,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	503,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 259,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 146 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 13.66	$ 8.69
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 186 days
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	$ 532,000
Restricted Stock Units (RSUs) [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Restricted Stock Units (RSUs) [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years

Note 6 - Stock-based Compensa34

Note 6 - Stock-based Compensation - Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Employee Stock Option [Member]
Compensation expense	$ 78	$ 97	$ 585	$ 563

Note 6 - Stock-based Compensa35

Note 6 - Stock-based Compensation - Stock Option Valuation Assumptions (Details)	9 Months Ended
	Jul. 01, 2017	Jul. 02, 2016
Risk-free interest rate	2.03%	1.39%
Dividend yield	0.33%	0.53%
Expected volatility	38.79%	39.23%
Expected term (Year)	5 years 43 days	5 years 273 days

Note 6 - Stock-based Compensa36

Note 6 - Stock-based Compensation - Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Jul. 01, 2017USD ($)$ / sharesshares
Options outstanding, beginning balance (in shares) | shares	371
Exercise price per share, beginning balance (in dollars per share)	$ 20.81
Exercise price per share, ending balance (in dollars per share)	$ 22.88
Contractual term - weighted average, ending balance (Year)	7 years 200 days
Aggregate intrinsic value, ending balance | $	$ 3,638
Options outstanding, vested and anticipated to vest in the future (in shares) | shares	335
Weighted average, vested and anticipated to vest in future (in dollars per share)	$ 22.84
Contractual term - weighted average, vested and anticipated to vest in future (Year)	7 years 197 days
Aggregate intrinsic value, vested and anticipated to vest in future | $	$ 3,605
Options outstanding, exercisable (in shares) | shares	135
Granted (in shares) | shares	36
Granted (in dollars per share)	$ 37.06
Options outstanding, exercised (in shares) | shares	(67)
Exercise price per share, exercised (in dollars per share)	$ 19.05
Aggregate intrinsic value, exercised | $	$ 1,212
Weighted average, exercisable (in dollars per share)	$ 17.37
Contractual term - weighted average, exercisable (Year)	6 years 21 days
Aggregate intrinsic value, exercisable | $	$ 2,103
Options outstanding, ending balance (in shares) | shares	340
Minimum [Member]
Exercise price per share, beginning balance (in dollars per share)	$ 9.16
Exercise price per share, ending balance (in dollars per share)	9.16
Granted (in dollars per share)	37.06
Exercise price per share, exercised (in dollars per share)	9.16
Maximum [Member]
Exercise price per share, beginning balance (in dollars per share)	34.49
Exercise price per share, ending balance (in dollars per share)	37.06
Granted (in dollars per share)	37.06
Exercise price per share, exercised (in dollars per share)	$ 23.95

Note 6 - Stock-based Compensa37

Note 6 - Stock-based Compensation - RSU Grants and Compensation Expense (Details) - Restricted Stock Units (RSUs) [Member] - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Units (in shares)			19	43
Market value			$ 690	$ 1,027
Compensation expense	$ 132	$ 148	$ 758	$ 958

Note 6 - Stock-based Compensa38

Note 6 - Stock-based Compensation - Restricted Stock and Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares shares in Thousands	3 Months Ended		9 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Restricted stock units outstanding, beginning balance (in shares)			145
Weighted average grant date fair value, beginning balance (in dollars per share)			$ 22.35
Restricted stock units outstanding, Granted (in shares)			19	43
Weighted average grant date fair value, Granted (in dollars per share)			$ 37.06
Restricted stock units outstanding, released (in shares)			(31)
Weighted average grant date fair value, released (in dollars per share)			$ 20.39
Weighted average grant date fair value, ending balance (in dollars per share)	$ 24.88		$ 24.88
Restricted stock units outstanding, ending balance (in shares)	133		133

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($)	9 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Oct. 01, 2016
Effective Income Tax Rate Reconciliation, Percent	33.80%	34.00%
Deferred Tax Liabilities, Net, Noncurrent	$ 8,177,000		$ 5,472,000
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	7,500,000
Deferred Tax Assets, Valuation Allowance	253,000		$ 280,000
State and Local Jurisdiction [Member]
Deferred Tax Assets, Tax Credit Carryforwards	$ 87,000
State and Local Jurisdiction [Member] | Earliest Tax Year [Member]
Operating Loss Carryforwards Expiration Date 1	2,017
Tax Credit Carryforward, Expiration Date 1	2,018
State and Local Jurisdiction [Member] | Latest Tax Year [Member]
Operating Loss Carryforwards Expiration Date 1	2,031
Tax Credit Carryforward, Expiration Date 1	2,020

Note 8 - Employee Benefit Pla40

Note 8 - Employee Benefit Plans (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Jul. 01, 2017	Oct. 01, 2016
Supplemental Employee Retirement Plan [Member]
Supplemental Retirement Benefit Period	15 years
Defined Benefit Plan Percent of Highest Average Salary Base	50.00%
Defined Benefit Plan Number of Years in Average Annual Base Salary	5 years
Defined Benefit Plan Number of Years Preceding Retirement for Average Annual Base Salary Calculation	10 years
Reduced SERP [Member]
Defined Benefit Plan Retirement Age	65
Defined Benefit Plan, Reduction for Each Month	0.0028%
Pension Plan [Member]
Defined Benefit Plan, Fair Value of Plan Assets		$ 0
Minimum [Member] | Supplemental Employee Retirement Plan [Member]
Defined Benefit Plan Employment Term	30 years
Minimum [Member] | Reduced SERP [Member]
Defined Benefit Plan Employment Term	10 years

Note 8 - Employee Benefit Pla41

Note 8 - Employee Benefit Plans - Net Periodic Pension Costs and Related Components (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Pension Plan [Member]
Interest cost		$ 37		$ 111
Expected return on plan assets		(44)		(132)
Recognized net actuarial loss		19		57
Net periodic pension cost		12		36
Supplemental Employee Retirement Plan [Member]
Interest cost	$ 84	81	$ 254	243
Recognized net actuarial loss	44	21	130	63
Net periodic pension cost	214	168	642	504
Service cost	$ 86	$ 66	$ 258	$ 198

Note 9 - Long-term Debt (Detail

Note 9 - Long-term Debt (Details Textual)	3 Months Ended		9 Months Ended
	Jul. 01, 2017USD ($)	Jul. 02, 2016USD ($)	Jul. 01, 2017USD ($)	Jul. 02, 2016USD ($)	Oct. 01, 2016USD ($)	Feb. 06, 2012USD ($)
Accumulated Amortization, Debt Issuance Costs	$ 4,600,000		$ 4,600,000		$ 4,500,000
Amortization of Debt Issuance Costs	16,000	$ 16,000	48,000	$ 48,000
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 100,000,000
Long-term Line of Credit	0		0
Line of Credit Facility, Current Borrowing Capacity	$ 90,100,000		$ 90,100,000
Debt Instrument, Interest Rate, Increase (Decrease)			2.00%
Fixed Charge Coverage Ratio			1.1
Credit Facility, Liquidity Amount			$ 12,500,000
Revolving Credit Facility [Member] | Federal Funds Effective Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			0.50%
Revolving Credit Facility [Member] | Base Rate [Member]
Line of Credit Facility, Interest Rate at Period End	0.25%		0.25%
Revolving Credit Facility [Member] | Base Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate			0.25%
Revolving Credit Facility [Member] | Base Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate			0.75%
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility, Interest Rate at Period End	1.25%		1.25%
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate			1.25%
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate			1.75%
Revolving Credit Facility [Member] | Letter of Credit [Member]
Long-term Line of Credit	$ 1,800,000		$ 1,800,000

Note 10 - Earnings Per Share (D

Note 10 - Earnings Per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	78,000	19,000	57,000	54,000

Note 10 - Earnings Per Share -

Note 10 - Earnings Per Share - Basic and Diluted Earnings Per Share Attributable to Common Shareholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Net earnings	$ 6,869	$ 13,531	$ 18,749	$ 27,391
Basic weighted average shares outstanding (in shares)	19,025	18,867	19,003	18,690
Dilutive effect of stock-based compensation (in shares)	200	268	216	321
Diluted weighted average shares outstanding (in shares)	19,225	19,135	19,219	19,011
Basic (in dollars per share)	$ 0.36	$ 0.72	$ 0.99	$ 1.47
Diluted (in dollars per share)	$ 0.36	$ 0.71	$ 0.98	$ 1.44

Note 11 - Share Repurchases (De

Note 11 - Share Repurchases (Details Textual) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016	Nov. 18, 2008
Stock Repurchase Program, Authorized Amount					$ 25
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 24.8		$ 24.8
Stock Repurchased During Period, Shares	0	0	0	0

Note 12 - Other Financial Dat46

Note 12 - Other Financial Data - Balance Sheet Information (Details) - USD ($) $ in Thousands	Jul. 01, 2017	Oct. 01, 2016
Accounts receivable, net:
Accounts receivable	$ 42,552	$ 47,680
Less allowance for doubtful accounts	(245)	(291)
Total	42,307	47,389
Inventories:
Raw materials	53,306	45,032
Work in process	3,304	2,788
Finished goods	27,072	23,366
Total	83,682	71,186
Other current assets:
Prepaid insurance	3,355	1,805
Income tax receivable	609
Other	1,218	1,234
Total	5,182	3,039
Other assets:
Cash surrender value of life insurance policies	8,707	7,909
Capitalized financing costs, net	122	170
Other	105	105
Total	8,934	8,184
Property, plant and equipment, net:
Land and land improvements	11,712	9,619
Buildings	49,586	43,739
Machinery and equipment	150,825	143,789
Construction in progress	7,892	11,318
Property, plant and equipment, gross	220,015	208,465
Less accumulated depreciation	(120,632)	(120,272)
Total	99,383	88,193
Accrued expenses:
Salaries, wages and related expenses	4,931	6,619
Customer rebates	1,040	1,296
Property taxes	821	1,328
Sales allowance reserves	147	577
Workers' compensation	120	127
Restructuring liabilities	18	239
Other	529	838
Total	7,606	11,024
Other liabilities:
Deferred compensation	9,467	9,071
Deferred Tax Liabilities, Net, Noncurrent	8,177	5,472
Total	$ 17,644	$ 14,543

Note 13 - Business Segment In47

Note 13 - Business Segment Information (Details Textual)	9 Months Ended
	Jul. 01, 2017
Number of Reportable Segments	1