Daily Journal (DJCO) 10-Q 7 Aug 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Entity Registrant Name	DAILY JOURNAL CORPORATION
Entity Central Index Key	783,412
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)		1,380,746
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2015	Sep. 30, 2014
Subscription Arrangement [Member]
LIABILITIES AND SHAREHOLDERS' EQUITY
Deferred subscriptions	$ 3,535,000	$ 3,381,000
Deferred Installation Contracts [Member]
LIABILITIES AND SHAREHOLDERS' EQUITY
Deferred subscriptions	8,583,000	8,896,000
Deferred Maintenance Agreement [Member]
LIABILITIES AND SHAREHOLDERS' EQUITY
Deferred subscriptions	4,704,000	7,031,000
Cash and cash equivalents	12,573,000	15,410,000
Marketable securities at fair value, including common stocks of $174,112,000 and bonds of $7,525,000 at June 30, 2015 and common stocks of $165,734,000 and bonds of $7,942,000 at September 30, 2014	181,637,000	173,676,000
Accounts receivable, less allowance for doubtful accounts of $250,000 at June 30, 2015 and September 30, 2014, respectively	6,654,000	8,566,000
Inventories	63,000	51,000
Prepaid expenses and other assets	699,000	983,000
Income tax receivable	1,412,000	2,051,000
Total current assets	203,038,000	200,737,000
Land, buildings and improvements	12,759,000	12,814,000
Furniture, office equipment and computer software	3,179,000	2,889,000
Machinery and equipment	1,864,000	1,864,000
	17,802,000	17,567,000
Less accumulated depreciation	(8,775,000)	(8,552,000)
	9,027,000	9,015,000
Intangibles, net	14,072,000	17,744,000
Goodwill	13,400,000	13,400,000
Deferred income taxes	3,663,000	2,981,000
	243,200,000	243,877,000
Accounts payable	4,114,000	4,344,000
Accrued liabilities	3,803,000	3,118,000
Deferred income taxes, net	46,638,000	46,502,000
Total current liabilities	71,377,000	73,272,000
Investment margin account borrowings	29,493,000	29,493,000
Deferred maintenance agreements	140,000	180,000
Income tax payable	3,059,000	3,244,000
Accrued interest and penalty for uncertain and unrecognized tax benefits	607,000	537,000
Accrued liabilities	350,000	780,000
Total long term liabilities	$ 33,649,000	$ 34,234,000
Commitments and contingencies (Note 9)
Preferred stock, $.01 par value, 5,000,000 shares authorized and no shares issued	$ 0	$ 0
Common stock, $.01 par value, 5,000,000 shares authorized; 1,805,053 shares issued, including 424,307 treasury shares, at June 30, 2015 and September 30, 2014	14,000	14,000
Additional paid-in capital	1,755,000	1,755,000
Retained earnings	59,271,000	58,301,000
Accumulated other comprehensive income	77,134,000	76,301,000
Total shareholders' equity	138,174,000	136,371,000
	$ 243,200,000	$ 243,877,000

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2015	Sep. 30, 2014
Marketable securities, common stock	$ 174,112,000	$ 165,734,000
Marketable securities, bonds	7,525,000	7,942,000
Accounts receivable, allowance for doubtful accounts	$ 250,000	$ 250,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	5,000,000	5,000,000
Common stock, shares issued (in shares)	1,805,053	1,805,053
Common stock, treasury shares (in shares)	424,307	424,307

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - Scenario, Unspecified [Domain] - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues
Advertising	$ 2,701,000	$ 2,976,000	$ 7,954,000	$ 8,620,000
Circulation	1,445,000	1,502,000	4,429,000	4,518,000
Advertising service fees and other	711,000	770,000	2,040,000	2,104,000
Licensing and maintenance fees	3,315,000	3,175,000	10,752,000	9,318,000
Consulting fees	791,000	1,189,000	3,401,000	2,715,000
Other public service fees	1,540,000	1,534,000	4,636,000	4,647,000
	10,503,000	11,146,000	33,212,000	31,922,000
Costs and expenses
Salaries and employee benefits	6,357,000	6,175,000	19,740,000	19,032,000
Other outside services	827,000	822,000	2,509,000	2,409,000
Postage and delivery expenses	346,000	335,000	990,000	961,000
Newsprint and printing expenses	335,000	368,000	935,000	948,000
Depreciation and amortization	1,366,000	1,385,000	4,093,000	4,134,000
Other general and administrative expenses	2,405,000	2,325,000	7,411,000	6,492,000
	11,636,000	11,410,000	35,678,000	33,976,000
Loss from operations	(1,133,000)	(264,000)	(2,466,000)	(2,054,000)
Other income (expense)
Dividends and interest income	1,177,000	825,000	2,865,000	2,100,000
Other income and capital gains	11,000	26,000	49,000	81,000
Interest and penalty expenses accrued for uncertain and unrecognized tax benefits	(26,000)	(518,000)	(70,000)	(518,000)
Interest expense	(56,000)	(56,000)	(168,000)	(173,000)
(Loss) income before income taxes	(27,000)	13,000	210,000	(564,000)
Benefit from income taxes	60,000	25,000	760,000	15,000
Net income	$ 33,000	$ 38,000	$ 970,000	$ (549,000)
Weighted average number of common shares outstanding - basic and diluted (in shares)	1,380,746	1,380,746	1,380,746	1,380,746
Basic and diluted net income per share (in dollars per share)	$ 0.02	$ 0.03	$ 0.70	$ (0.40)
Comprehensive income (loss)
Net income	$ 33,000	$ 38,000	$ 970,000	$ (549,000)
Net change in unrealized appreciation of investments (net of taxes)	5,277,000	(689,000)	833,000	18,177,000
(Loss) income before income taxes	$ 5,310,000	$ (651,000)	$ 1,803,000	$ 17,628,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Subscription Arrangement [Member]
Increase (decrease) in liabilities (net of acquisitions)
Deferred subscriptions	$ 154,000	$ (389,000)
Deferred Maintenance Agreement [Member]
Increase (decrease) in liabilities (net of acquisitions)
Deferred subscriptions	(2,367,000)	399,000
Deferred Installation Contracts [Member]
Increase (decrease) in liabilities (net of acquisitions)
Deferred subscriptions	(313,000)	1,533,000
Net income (loss)	970,000	(549,000)
Depreciation and amortization	4,093,000	4,134,000
Gains on sales of marketable securities	(4,000)
Deferred income taxes	(735,000)	(1,956,000)
Discounts earned on bonds	(2,000)	(2,000)
Accounts receivable, net	1,912,000	(536,000)
Inventories	(12,000)	8,000
Prepaid expenses and other assets	284,000	622,000
Income tax receivable	639,000	(1,113,000)
Accounts payable	(230,000)	147,000
Accrued liabilities	325,000	(1,501,000)
Income taxes	(185,000)	3,018,000
Net cash provided by operating activities	4,529,000	3,815,000
Cash flows from investing activities
Sales of marketable securities	4,044,000
Purchases of marketable securities	(10,977,000)
Purchases of property, plant and equipment	(433,000)	(403,000)
Net cash used in investing activities	(7,366,000)	(403,000)
(Decrease) increase in cash and cash equivalents	(2,837,000)	3,412,000
Cash and cash equivalents
Beginning of period	15,410,000	11,338,000
End of period	12,573,000	14,750,000
Interest paid during period	168,000	168,000
Net income taxes (refunded) paid during period	$ (547,000)	$ 20,000

Note 1 - The Corporation and Op

Note 1 - The Corporation and Operations	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1 - The Corporation and Operations Daily Journal Corporation (the “Company”) publishes newspapers and web sites covering California and Arizona, as well as the California Lawyer magazine, and produces several specialized information services. It also serves as a newspaper representative specializing in public notice advertising. Journal Technologies, Inc. (“Journal Technologies”), a wholly-owned subsidiary, includes as of October 1, 2014, the combined operations of Sustain Technologies, Inc. (“Sustain”), a wholly-owned subsidiary since 2008; New Dawn Technologies, Inc. (“New Dawn”), acquired in December 2012; and ISD Technologies, Inc. (“ISD”), acquired in September 2013. Effective October 1, 2014, Sustain and ISD merged into New Dawn, and New Dawn changed its name to Journal Technologies. The merger was concluded in accordance with Accounting Standards Codification (“ASC”) 805-50-15, Business Combinations - Transactions Between Entities Under Common Control Essentially all of the Company’s operations are based in California, Arizona and Utah.

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Basis of Accounting [Text Block]	Note 2 - Basis of Presentation In the opinion of the Company, the accompanying interim unaudited consolidated financial statements contain all adjustments (consisting of normal recurring accruals) considered necessary for a fair statement of its financial position as of June 30, 2015, its results of operations for the three- and nine-month periods ended June 30, 2015 and 2014 and its cash flows for the nine-month periods ended June 30, 2015 and 2014. The results of operations for the three- and nine-month periods ended June 30, 2015 are not necessarily indicative of the results to be expected for the full year. The consolidated financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2014. Certain reclassifications of previously reported amounts have been made to conform to the current period’s presentation.

Note 3 - Basic and Diluted Inco

Note 3 - Basic and Diluted Income Per Share	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 3 - Basic and Diluted Income Per Share The Company does not have any common stock equivalents, and therefore the basic and diluted income per share are the same.

Note 4 - Intangible Assets

Note 4 - Intangible Assets	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	Note 4 - Intangible Assets Intangible Assets June 30, 2015 September 30, 2014 Customer Relationships Developed Technology Total Customer Relationships Developed Technology Total Gross intangibles $ 21,950,000 $ 2,525,000 $ 24,475,000 $ 21,950,000 $ 2,525,000 $ 24,475,000 Accumulated amortization (9,297,000 ) (1,106,000 ) (10,403,000 ) (6,004,000 ) (727,000 ) (6,731,000 ) $ 12,653,000 $ 1,419,000 $ 14,072,000 $ 15,946,000 $ 1,798,000 $ 17,744,000 These identifiable intangible assets are being amortized over five years for financial statement purposes due to the short life cycle of technology that customer relationships depend on and over a 15-year period on a straight line basis for tax purposes. The intangible amortization expenses were $3,671,000 for the nine months ended June 30, 2015 as compared with $3,642,000 in the prior year period.

Note 5 - Goodwill

Note 5 - Goodwill	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Goodwill Disclosure [Text Block]	Note 5 – Goodwill The Company accounts for goodwill in accordance with ASC 350, Intangibles — Goodwill and Other In addition, ASC 2011-08, Testing Goodwill for Impairment

Note 6 - Revenue Recognition

Note 6 - Revenue Recognition	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Deferred Revenue Disclosure [Text Block]	Note 6 – Revenue Recognition For the Company’s traditional publishing business (the “Traditional Business”), proceeds from the sale of subscriptions for newspapers, court rule books and other publications and other services are recorded as deferred revenue and are included in earned revenue only when the services are provided, generally over the subscription term. Advertising revenues are recognized when advertisements are published and are net of commissions. An allowance for doubtful accounts is recorded for the accounts receivable. Journal Technologies recognizes revenues in accordance with the provisions of ASC 985-605, Software—Revenue Recognition Construction-Type and Production-Type Contracts Approximately 57% and 52% of the Company’s revenues during the nine months ended June 30, 2015 and 2014, respectively, were derived from Journal Technologies. The Company has established Vendor Specific Objective Evidence (VSOE) of fair value of the annual maintenance because a substantial majority of the Journal Technologies’ actual maintenance renewals is within a narrow range of pricing as a percentage of the underlying license fees for the legacy contracts and is deemed substantive.

Note 7 - Income Taxes

Note 7 - Income Taxes	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 7 - Income Taxes Because a small change in ordinary income produces a significant change in the annual effective rate due to significant permanent book and tax differences, primarily for the dividends received deduction, it was impractical for the Company to compute a reliable estimate using the annual effective rate method. As such, the Company computed its estimate of income taxes on each component of taxable income; ordinary income, the dividends received deduction and other permanent book and tax differences, and recorded each in the period in which it occurred. For the nine months ended June 30, 2015, the Company recorded an income tax benefit of $760,000 on pretax income of $210,000. The effective tax rate was lower than the statutory rate primarily due to the dividends received deduction, the domestic production activity deduction and a discrete benefit of about $400,000 related to the California Enterprise Zone credits. On pretax loss of $564,000 for the nine months ended June 30, 2014, the Company recorded a tax benefit of $15,000 which was the net result from applying the effective tax rate anticipated for fiscal 2014 to pretax loss for the first three quarters of fiscal 2014. The Company’s effective tax rate was -362% and 3% for the nine months ended June 30, 2015 and 2014, respectively. The Company files federal income tax returns in the United States and with various state jurisdictions and is no longer subject to examinations for fiscal years before fiscal 2011 with regard to federal income taxes and fiscal 2010 for state income taxes. At June 30, 2015, the Company had an accrued liability of approximately $3,059,000 for uncertain and unrecognized tax benefits relating to an acquisition in fiscal 2013. The Company does not anticipate a significant increase or decrease in this liability in the next twelve months. If recognized, it is expected that these unrecognized tax benefits would not have a significant impact on the Company’s effective tax rate. During the nine months ended June 30, 2015, interest expense of approximately $70,000 was recorded as “interest and penalty expense accrued for uncertain and unrecognized tax benefits” in the statement of Comprehensive Income (Loss).

Note 8 - Investments in Marketa

Note 8 - Investments in Marketable Securities	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	Note 8 - Investments in Marketable Securities Investments in marketable securities categorized as “available-for-sale” are stated at fair value. The Company uses quoted prices in active markets for identical assets (consistent with the Level 1 definition in the fair value hierarchy) to measure the fair value of its investments on a recurring basis pursuant to ASC 820, Fair Value Measurement Investments in equity securities and securities with fixed maturity as of June 30, 2015 and September 30, 2014 are summarized below. Investments June 30, 2015 September 30, 2014 (Unaudited) Aggregate fair value Amortized/Adjusted cost basis Pretax unrealized gains Aggregate fair value Amortized/Adjusted cost basis Pretax unrealized gains Marketable securities Common stocks $ 174,112,000 $ 49,980,000 $ 124,132,000 $ 165,734,000 $ 43,042,000 $ 122,692,000 Bonds 7,525,000 4,938,000 2,587,000 7,942,000 4,934,000 3,008,000 Total $ 181,637,000 $ 54,918,000 $ 126,719,000 $ 173,676,000 $ 47,976,000 $ 125,700,000 All investments are classified as “Current assets” because they are available for sale at any time. The bonds mature in 2039. As of June 30, 2015, the Company perform ed separate evaluations for impaired equity securities to determine if the unrealized losses were other-than-temporary. This evaluation considers a number of factors including, but not limited to, the length of time and extent to which the fair value has been less than cost, the financial condition and near term prospects of the issuer and the Company’s ability and intent to hold the securities until fair value recovers. The assessment of the ability and intent to hold these securities to recovery focuses on liquidity need s, asset/liability management objectives and securities portfolio objectives. Based on the results of th e evaluation s, the Company concluded that as of June 30, 2015, all unrealized losses related to the equity securities it owns were temporary.

Note 9 - Debt and Commitments a

Note 9 - Debt and Commitments and Contingencies	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Commitments Disclosure [Text Block]	Note 9 - Debt and Commitments and Contingencies In December 2012, the Company borrowed from its investment margin account the purchase price of $14 million for the New Dawn acquisition, and in September 2013, it borrowed another $15.5 million for the ISD acquisition, in each case pledging its marketable securities as collateral. The interest rate for these investment margin account borrowings fluctuates based on the Federal Funds Rate plus 50 basis points with interest only payable monthly. The interest rate as of June 30, 2015 was 0.75%. These investment margin account borrowings do not mature. The Company owns its facilities in Los Angeles and leases space for its other Daily Journal offices under operating leases which expire at various dates through fiscal 2020. The Company is responsible for a portion of maintenance, insurance and property tax expenses relating to these leased properties and certain other leased properties. Rental expenses for the nine-month periods ended June 30, 2015 and 2014 were $879,000 and $938,000, respectively. From time to time, the Company is subject to litigation arising in the normal course of its business. While it is not possible to predict the results of such litigation, management does not believe the ultimate outcome of these matters will have a material effect on the Company’s financial position or results of operations or cash flows.

Note 10 - Operating Segments

Note 10 - Operating Segments	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 10 - Operating Segments The Company’s reportable segments are: (i) the Traditional Business and (ii) Journal Technologies. All inter-segment transactions were eliminated. Summarized financial information concerning the Company’s reportable segments is shown in the following table: Reportable Segments Traditional Business Journal Technologies Non-operating items Total Nine months ended June 30, 2015 Revenues Advertising $ 7,954,000 $ --- $ --- $ 7,954,000 Circulation 4,429,000 --- --- 4,429,000 Advertising service fees and other 2,040,000 --- --- 2,040,000 Licensing and maintenance fees --- 10,752,000 --- 10,752,000 Consulting fees --- 3,401,000 --- 3,401,000 Other public service fees --- 4,636,000 --- 4,636,000 Operating expenses 13,597,000 22,081,000 --- 35,678,000 Income (loss) from operations 826,000 (3,292,000 ) --- (2,466,000 ) Dividends and interest income --- --- 2,865,000 2,865,000 Other income and capital gains --- --- 49,000 49,000 Interest expenses --- --- (168,000 ) (168,000 ) Interest expense accrued for uncertain and unrecognized tax benefits --- (70,000 ) --- (70,000 ) Pretax income (loss) 826,000 (3,362,000 ) 2,746,000 210,000 Income tax benefit --- --- 760,000 760,000 Net income (loss) 826,000 (3,362,000 ) 3,506,000 970,000 Total assets 15,144,000 46,419,000 181,637,000 243,200,000 Capital expenditures 315,000 118,000 --- 433,000 Amortization of intangible assets --- 3,671,000 --- 3,671,000 Nine months ended June 30, 2014 Revenues Advertising $ 8,620,000 $ --- $ --- $ 8,620,000 Circulation 4,518,000 --- --- 4,518,000 Advertising service fees and other 2,104,000 --- --- 2,104,000 Licensing and maintenance fees --- 9,318,000 --- 9,318,000 Consulting fees --- 2,715,000 --- 2,715,000 Other public service fees --- 4,647,000 --- 4,647,000 Operating expenses 13,140,000 20,836,000 --- 33,976,000 Income (loss) from operations 2,102,000 (4,156,000 ) --- (2,054,000 ) Dividends and interest income --- --- 2,100,000 2,100,000 Other income and capital gains --- --- 81,000 81,000 Interest expenses --- --- (173,000 ) (173,000 ) Interest and penalty expenses accrued for uncertain and unrecognized tax benefits --- (518,000 ) --- (518,000 ) Pretax income (loss) 2,102,000 (4,674,000 ) 2,008,000 (564,000 ) Income tax benefit --- --- 15,000 15,000 Net income (loss) 2,102,000 (4,674,000 ) 2,023,000 (549,000 ) Total assets 15,420,000 53,440,000 166,823,000 235,683,000 Capital expenditures 78,000 325,000 --- 403,000 Amortization of intangible assets --- 3,642,000 --- 3,642,000 Reportable Segments Traditional Business Journal Technologies Non-operating items Total Three months ended June 30, 2015 Revenues Advertising $ 2,701,000 $ --- $ --- $ 2,701,000 Circulation 1,445,000 --- --- 1,445,000 Advertising service fees and other 711,000 --- --- 711,000 Licensing and maintenance fees --- 3,315,000 --- 3,315,000 Consulting fees --- 791,000 --- 791,000 Other public service fees --- 1,540,000 --- 1,540,000 Operating expenses 4,421,000 7,215,000 --- 11,636,000 Income (loss) from operations 436,000 (1,569,000 ) --- (1,133,000 ) Dividends and interest income --- --- 1,177,000 1,177,000 Other income and capital gains --- --- 11,000 11,000 Interest expenses --- --- (56,000 ) (56,000 ) Interest expense accrued for uncertain and unrecognized tax benefits --- (26,000 ) --- (26,000 ) Pretax income (loss) 436,000 (1,595,000 ) 1,132,000 (27,000 ) Income tax expense --- --- 60,000 60,000 Net income (loss) 436,000 (1,595,000 ) 1,192,000 33,000 Total assets 15,144,000 46,419,000 181,637,000 243,200,000 Capital expenditures 9,000 38,000 --- 47,000 Amortization of intangible assets --- 1,223,000 --- 1,223,000 Three months ended June 30, 2014 Revenues Advertising $ 2,976,000 $ --- $ --- $ 2,976,000 Circulation 1,502,000 --- --- 1,502,000 Advertising service fees and other 770,000 --- --- 770,000 Licensing and maintenance fees --- 3,175,000 --- 3,175,000 Consulting fees --- 1,189,000 --- 1,189,000 Other public service fees --- 1,534,000 --- 1,534,000 Operating expenses 4,277,000 7,133,000 --- 11,410,000 Income (loss) from operations 971,000 (1,235,000 ) --- (264,000 ) Dividends and interest income --- --- 825,000 825,000 Other income and capital gains --- --- 26,000 26,000 Interest expenses --- --- (56,000 ) (56,000 ) Interest and penalty expenses accrued for uncertain and unrecognized tax benefits --- (518,000 ) --- (518,000 ) Pretax income (loss) 971,000 (1,753,000 ) 795,000 13,000 Income tax benefit --- --- 25,000 25,000 Net income (loss) 971,000 (1,753,000 ) 820,000 38,000 Total assets 15,420,000 53,440,000 166,823,000 235,683,000 Capital expenditures 26,000 168,000 --- 194,000 Amortization of intangible assets --- 1,223,000 --- 1,223,000

Note 11 - Subsequent Events

Note 11 - Subsequent Events	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Subsequent Events [Text Block]	Note 11 - Subsequent Events The Company has completed an evaluation of all subsequent events through the issuance date of these financial statements and concluded that no subsequent events occurred that required recognition to the financial statements or disclosures in the notes to consolidated financial statements or cash flows.

Note 4 - Intangible Assets (Tab

Note 4 - Intangible Assets (Tables)	9 Months Ended
	Jun. 30, 2015
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Intangible Assets June 30, 2015 September 30, 2014 Customer Relationships Developed Technology Total Customer Relationships Developed Technology Total Gross intangibles $ 21,950,000 $ 2,525,000 $ 24,475,000 $ 21,950,000 $ 2,525,000 $ 24,475,000 Accumulated amortization (9,297,000 ) (1,106,000 ) (10,403,000 ) (6,004,000 ) (727,000 ) (6,731,000 ) $ 12,653,000 $ 1,419,000 $ 14,072,000 $ 15,946,000 $ 1,798,000 $ 17,744,000

Note 8 - Investments in Marke18

Note 8 - Investments in Marketable Securities (Tables)	9 Months Ended
	Jun. 30, 2015
Notes Tables
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	Investments June 30, 2015 September 30, 2014 (Unaudited) Aggregate fair value Amortized/Adjusted cost basis Pretax unrealized gains Aggregate fair value Amortized/Adjusted cost basis Pretax unrealized gains Marketable securities Common stocks $ 174,112,000 $ 49,980,000 $ 124,132,000 $ 165,734,000 $ 43,042,000 $ 122,692,000 Bonds 7,525,000 4,938,000 2,587,000 7,942,000 4,934,000 3,008,000 Total $ 181,637,000 $ 54,918,000 $ 126,719,000 $ 173,676,000 $ 47,976,000 $ 125,700,000

Note 10 - Operating Segments (T

Note 10 - Operating Segments (Tables)	9 Months Ended
	Jun. 30, 2015
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Reportable Segments Traditional Business Journal Technologies Non-operating items Total Nine months ended June 30, 2015 Revenues Advertising $ 7,954,000 $ --- $ --- $ 7,954,000 Circulation 4,429,000 --- --- 4,429,000 Advertising service fees and other 2,040,000 --- --- 2,040,000 Licensing and maintenance fees --- 10,752,000 --- 10,752,000 Consulting fees --- 3,401,000 --- 3,401,000 Other public service fees --- 4,636,000 --- 4,636,000 Operating expenses 13,597,000 22,081,000 --- 35,678,000 Income (loss) from operations 826,000 (3,292,000 ) --- (2,466,000 ) Dividends and interest income --- --- 2,865,000 2,865,000 Other income and capital gains --- --- 49,000 49,000 Interest expenses --- --- (168,000 ) (168,000 ) Interest expense accrued for uncertain and unrecognized tax benefits --- (70,000 ) --- (70,000 ) Pretax income (loss) 826,000 (3,362,000 ) 2,746,000 210,000 Income tax benefit --- --- 760,000 760,000 Net income (loss) 826,000 (3,362,000 ) 3,506,000 970,000 Total assets 15,144,000 46,419,000 181,637,000 243,200,000 Capital expenditures 315,000 118,000 --- 433,000 Amortization of intangible assets --- 3,671,000 --- 3,671,000 Nine months ended June 30, 2014 Revenues Advertising $ 8,620,000 $ --- $ --- $ 8,620,000 Circulation 4,518,000 --- --- 4,518,000 Advertising service fees and other 2,104,000 --- --- 2,104,000 Licensing and maintenance fees --- 9,318,000 --- 9,318,000 Consulting fees --- 2,715,000 --- 2,715,000 Other public service fees --- 4,647,000 --- 4,647,000 Operating expenses 13,140,000 20,836,000 --- 33,976,000 Income (loss) from operations 2,102,000 (4,156,000 ) --- (2,054,000 ) Dividends and interest income --- --- 2,100,000 2,100,000 Other income and capital gains --- --- 81,000 81,000 Interest expenses --- --- (173,000 ) (173,000 ) Interest and penalty expenses accrued for uncertain and unrecognized tax benefits --- (518,000 ) --- (518,000 ) Pretax income (loss) 2,102,000 (4,674,000 ) 2,008,000 (564,000 ) Income tax benefit --- --- 15,000 15,000 Net income (loss) 2,102,000 (4,674,000 ) 2,023,000 (549,000 ) Total assets 15,420,000 53,440,000 166,823,000 235,683,000 Capital expenditures 78,000 325,000 --- 403,000 Amortization of intangible assets --- 3,642,000 --- 3,642,000 Reportable Segments Traditional Business Journal Technologies Non-operating items Total Three months ended June 30, 2015 Revenues Advertising $ 2,701,000 $ --- $ --- $ 2,701,000 Circulation 1,445,000 --- --- 1,445,000 Advertising service fees and other 711,000 --- --- 711,000 Licensing and maintenance fees --- 3,315,000 --- 3,315,000 Consulting fees --- 791,000 --- 791,000 Other public service fees --- 1,540,000 --- 1,540,000 Operating expenses 4,421,000 7,215,000 --- 11,636,000 Income (loss) from operations 436,000 (1,569,000 ) --- (1,133,000 ) Dividends and interest income --- --- 1,177,000 1,177,000 Other income and capital gains --- --- 11,000 11,000 Interest expenses --- --- (56,000 ) (56,000 ) Interest expense accrued for uncertain and unrecognized tax benefits --- (26,000 ) --- (26,000 ) Pretax income (loss) 436,000 (1,595,000 ) 1,132,000 (27,000 ) Income tax expense --- --- 60,000 60,000 Net income (loss) 436,000 (1,595,000 ) 1,192,000 33,000 Total assets 15,144,000 46,419,000 181,637,000 243,200,000 Capital expenditures 9,000 38,000 --- 47,000 Amortization of intangible assets --- 1,223,000 --- 1,223,000 Three months ended June 30, 2014 Revenues Advertising $ 2,976,000 $ --- $ --- $ 2,976,000 Circulation 1,502,000 --- --- 1,502,000 Advertising service fees and other 770,000 --- --- 770,000 Licensing and maintenance fees --- 3,175,000 --- 3,175,000 Consulting fees --- 1,189,000 --- 1,189,000 Other public service fees --- 1,534,000 --- 1,534,000 Operating expenses 4,277,000 7,133,000 --- 11,410,000 Income (loss) from operations 971,000 (1,235,000 ) --- (264,000 ) Dividends and interest income --- --- 825,000 825,000 Other income and capital gains --- --- 26,000 26,000 Interest expenses --- --- (56,000 ) (56,000 ) Interest and penalty expenses accrued for uncertain and unrecognized tax benefits --- (518,000 ) --- (518,000 ) Pretax income (loss) 971,000 (1,753,000 ) 795,000 13,000 Income tax benefit --- --- 25,000 25,000 Net income (loss) 971,000 (1,753,000 ) 820,000 38,000 Total assets 15,420,000 53,440,000 166,823,000 235,683,000 Capital expenditures 26,000 168,000 --- 194,000 Amortization of intangible assets --- 1,223,000 --- 1,223,000

Note 4 - Intangible Assets (Det

Note 4 - Intangible Assets (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Tax Purposes [Member]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	15 years
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	5 years
Amortization of Intangible Assets	$ 1,223,000	$ 1,223,000	$ 3,671,000	$ 3,642,000

Note 4 - Summary of Intangible

Note 4 - Summary of Intangible Assets (Details) - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Customer Relationships [Member]
Gross intangibles	$ 21,950,000	$ 21,950,000
Accumulated amortization	(9,297,000)	(6,004,000)
	12,653,000	15,946,000
Developed Technology Rights [Member]
Gross intangibles	2,525,000	2,525,000
Accumulated amortization	(1,106,000)	(727,000)
	1,419,000	1,798,000
Gross intangibles	24,475,000	24,475,000
Accumulated amortization	(10,403,000)	(6,731,000)
	$ 14,072,000	$ 17,744,000

Note 5 - Goodwill (Details Text

Note 5 - Goodwill (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Goodwill, Impairment Loss	$ 0	$ 0	$ 0	$ 0
Goodwill Useful Life for Tax Purposes	15 years

Note 6 - Revenue Recognition (D

Note 6 - Revenue Recognition (Details Textual)	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Sales Revenue, Net [Member] | Product Concentration Risk [Member]
Concentration Risk, Percentage	57.00%	52.00%

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
California Enterprise Zone Credits [Member]
Income Tax Expense (Benefit)			$ (400,000)
Income Tax Expense (Benefit)	$ (60,000)	$ (25,000)	(760,000)	$ (15,000)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest	(27,000)	$ 13,000	$ 210,000	$ (564,000)
Effective Income Tax Rate Reconciliation, Percent			(362.00%)	3.00%
Liability for Uncertain Tax Positions, Noncurrent	$ 3,059,000		$ 3,059,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense			$ 70,000

Note 8 - Investments in Marke25

Note 8 - Investments in Marketable Securities (Details Textual) - USD ($)	Jun. 30, 2015	Sep. 30, 2014
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	$ 126,719,000	$ 125,700,000
Deferred Tax Liabilities, Investments	$ 49,085,000	$ 48,896,000

Note 8 - Summary of Investments

Note 8 - Summary of Investments (Details) - USD ($)	Jun. 30, 2015	Sep. 30, 2014
Equity Securities [Member]
Marketable securities
Aggregate fair value	$ 174,112,000	$ 165,734,000
Amortized/Adjusted cost basis	49,980,000	43,042,000
Pretax unrealized gains	124,132,000	122,692,000
Debt Securities [Member]
Marketable securities
Aggregate fair value	7,525,000	7,942,000
Amortized/Adjusted cost basis	4,938,000	4,934,000
Pretax unrealized gains	2,587,000	3,008,000
Aggregate fair value	181,637,000	173,676,000
Amortized/Adjusted cost basis	54,918,000	47,976,000
Pretax unrealized gains	$ 126,719,000	$ 125,700,000

Note 9 - Debt and Commitments27

Note 9 - Debt and Commitments and Contingencies (Details Textual) - USD ($)	Sep. 13, 2013	Dec. 04, 2012	Jun. 30, 2015	Jun. 30, 2014
New Dawn [Member] | Margin Account [Member]
Proceeds from Other Debt		$ 14,000,000
ISD Corporation [Member] | Margin Account [Member]
Proceeds from Other Debt	$ 15,500,000
Margin Account [Member] | Fed Funds Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			0.50%
Margin Account [Member]
Debt Instrument, Interest Rate, Effective Percentage			0.75%
Operating Leases, Rent Expense			$ 879,000	$ 938,000

Note 10 - Summarized Financial

Note 10 - Summarized Financial Information for Reportable Segments (Details) - Scenario, Unspecified [Domain] - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Traditional Business [Member] | Operating Segments [Member]
Revenues
Advertising	$ 2,701,000	$ 2,976,000	$ 7,954,000	$ 8,620,000
Circulation	1,445,000	1,502,000	4,429,000	4,518,000
Advertising service fees and other	711,000	770,000	2,040,000	2,104,000
Operating expenses	4,421,000	4,277,000	13,597,000	13,140,000
Income (loss) from operations	436,000	971,000	826,000	2,102,000
Pretax income (loss)	436,000	971,000	826,000	2,102,000
Net income (loss)	436,000	971,000	826,000	2,102,000
Total assets	15,144,000	15,420,000	15,144,000	15,420,000
Capital expenditures	$ 9,000	26,000	$ 315,000	78,000
Amortization of intangible assets
Journal Technologies [Member] | Operating Segments [Member]
Revenues
Licensing and maintenance fees	$ 3,315,000	3,175,000	$ 10,752,000	9,318,000
Consulting fees	791,000	1,189,000	3,401,000	2,715,000
Other public service fees	1,540,000	1,534,000	4,636,000	4,647,000
Operating expenses	7,215,000	7,133,000	22,081,000	20,836,000
Income (loss) from operations	(1,569,000)	(1,235,000)	(3,292,000)	(4,156,000)
Interest and penalty expenses accrued for uncertain and unrecognized tax benefits		(518,000)	(70,000)	(518,000)
Pretax income (loss)	(1,595,000)	(1,753,000)	(3,362,000)	(4,674,000)
Net income (loss)	(1,595,000)	(1,753,000)	(3,362,000)	(4,674,000)
Total assets	46,419,000	53,440,000	46,419,000	53,440,000
Capital expenditures	38,000	168,000	118,000	325,000
Amortization of intangible assets	1,223,000	1,223,000	3,671,000	3,642,000
Corporate, Non-Segment [Member]
Revenues
Dividends and interest income	1,177,000	825,000	2,865,000	2,100,000
Other income and capital gains	11,000	26,000	49,000	81,000
Interest expenses	(56,000)	(56,000)	(168,000)	(173,000)
Pretax income (loss)	1,132,000	795,000	2,746,000	2,008,000
Benefit from income taxes	60,000	25,000	760,000	15,000
Net income (loss)	1,192,000	820,000	3,506,000	2,023,000
Total assets	181,637,000	166,823,000	181,637,000	166,823,000
Advertising	2,701,000	2,976,000	7,954,000	8,620,000
Circulation	1,445,000	1,502,000	4,429,000	4,518,000
Advertising service fees and other	711,000	770,000	2,040,000	2,104,000
Licensing and maintenance fees	3,315,000	3,175,000	10,752,000	9,318,000
Consulting fees	791,000	1,189,000	3,401,000	2,715,000
Other public service fees	1,540,000	1,534,000	4,636,000	4,647,000
Operating expenses	11,636,000	11,410,000	35,678,000	33,976,000
Income (loss) from operations	(1,133,000)	(264,000)	(2,466,000)	(2,054,000)
Dividends and interest income	1,177,000	825,000	2,865,000	2,100,000
Other income and capital gains	11,000	26,000	49,000	81,000
Interest expenses	(56,000)	(56,000)	(168,000)	(173,000)
Interest and penalty expenses accrued for uncertain and unrecognized tax benefits	(26,000)	(518,000)	(70,000)	(518,000)
Pretax income (loss)	(27,000)	13,000	210,000	(564,000)
Benefit from income taxes	60,000	25,000	760,000	15,000
Net income (loss)	33,000	38,000	970,000	(549,000)
Total assets	243,200,000	235,683,000	243,200,000	235,683,000
Capital expenditures	47,000	194,000	433,000	403,000
Amortization of intangible assets	$ 1,223,000	$ 1,223,000	$ 3,671,000	$ 3,642,000