Daily Journal (DJCO) 10-Q 8 Aug 18 2018 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jun. 30, 2018	Jul. 31, 2018
Document Information [Line Items]
Entity Registrant Name	DAILY JOURNAL CORPORATION
Entity Central Index Key	783,412
Trading Symbol	djco
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, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2018	Sep. 30, 2017
Current assets
Cash and cash equivalents	$ 4,974,000	$ 3,384,000
Marketable securities at fair value, including common stocks of $207,499,000 at June 30, 2018, and common stocks of $220,973,000 and bonds of $8,292,000 at September 30, 2017	207,499,000	229,265,000
Accounts receivable, less allowance for doubtful accounts of $200,000 at June 30, 2018 and September 30, 2017	8,312,000	5,358,000
Inventories	53,000	40,000
Prepaid expenses and other current assets	487,000	798,000
Income tax receivable	1,508,000	909,000
Total current assets	222,833,000	239,754,000
Property, plant and equipment, at cost
Land, buildings and improvements	16,409,000	16,396,000
Furniture, office equipment and computer software	2,858,000	2,724,000
Machinery and equipment	1,818,000	1,799,000
	21,085,000	20,919,000
Less accumulated depreciation	(9,721,000)	(9,292,000)
	11,364,000	11,627,000
Intangibles, net	499,000	3,058,000
Goodwill	13,400,000	13,400,000
Deferred income taxes - Federal	7,717,000	10,652,000
Deferred income taxes - State	2,355,000	2,217,000
	258,168,000	280,708,000
Current liabilities
Accounts payable	3,616,000	3,049,000
Accrued liabilities	3,473,000	3,112,000
Note payable collateralized by real estate	119,000	115,000
Total current liabilities	25,312,000	24,074,000
Long term liabilities
Investment margin account borrowings	29,493,000	29,493,000
Note payable collateralized by real estate	1,866,000	1,956,000
Deferred maintenance agreements	312,000	759,000
Accrued liabilities	135,000	135,000
Deferred income taxes	39,683,000	64,550,000
Total long term liabilities	71,489,000	96,893,000
Commitments and contingencies (Notes 10 and 11)
Shareholders' equity
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, 2018 and September 30, 2017	14,000	14,000
Additional paid-in capital	1,755,000	1,755,000
Retained earnings	50,695,000	57,150,000
Accumulated other comprehensive income	108,903,000	100,822,000
Total shareholders' equity	161,367,000	159,741,000
	258,168,000	280,708,000
Subscription and Circulation [Member]
Current liabilities
Deferred revenue	3,237,000	3,284,000
Installation Contracts [Member]
Current liabilities
Deferred revenue	3,710,000	5,072,000
License and Maintenance [Member]
Current liabilities
Deferred revenue	$ 11,157,000	$ 9,442,000

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2018	Sep. 30, 2017
Market securities, common stock	$ 207,499,000	$ 220,973,000
Market securities, bonds	0	8,292,000
Accounts receivable, allowance for doubtful accounts	$ 200,000	$ 200,000
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 (Loss) Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenue
Revenues	$ 11,007,000	$ 10,201,000	$ 30,597,000	$ 30,470,000
Costs and expenses
Salaries and employee benefits	8,475,000	8,126,000	25,227,000	23,864,000
Outside services	1,012,000	1,116,000	3,095,000	3,183,000
Postage and delivery expenses	217,000	283,000	650,000	846,000
Newsprint and printing expenses	186,000	224,000	589,000	663,000
Depreciation and amortization	905,000	1,423,000	3,022,000	4,204,000
Other general and administrative expenses	2,921,000	2,662,000	8,541,000	7,462,000
	13,716,000	13,834,000	41,124,000	40,222,000
Loss from operations	(2,709,000)	(3,633,000)	(10,527,000)	(9,752,000)
Other income (expense)
Dividends and interest income	1,215,000	952,000	3,722,000	3,491,000
Other income	9,000	4,000	28,000	25,000
Loss before income taxes	(1,682,000)	(2,816,000)	(4,125,000)	(5,858,000)
Benefit from income taxes	710,000	1,465,000	17,660,000	6,015,000
Net Income (loss)	$ (972,000)	$ (1,351,000)	$ 13,535,000	$ 157,000
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 loss per share (in dollars per share)	$ (0.70)	$ (0.98)	$ 9.80	$ 0.11
Gains on sales of bonds and capital asset			$ 3,182,000
Reversal of accrued interest and penalty expense for uncertain and unrecognized tax benefits				743,000
Comprehensive (loss) income
Net income	$ (972,000)	$ (1,351,000)	13,535,000	157,000
Net (decrease) increase in unrealized appreciation of marketable securities (net of taxes)	(7,613,000)	4,258,000	(9,356,000)	23,915,000
	(8,585,000)	2,907,000	4,179,000	24,072,000
Real Estate Bank Loan Secured by Logan Office [Member]
Other income (expense)
Interest expense on debt	(24,000)	(24,000)	(72,000)	(75,000)
Margin Account [Member]
Other income (expense)
Interest expense on debt	(173,000)	(115,000)	(458,000)	(290,000)
Advertising [Member]
Revenue
Revenues	2,375,000	2,400,000	6,700,000	6,833,000
Subscription and Circulation [Member]
Revenue
Revenues	1,346,000	1,385,000	4,065,000	4,258,000
Advertising Service Fees and Other [Member]
Revenue
Revenues	724,000	778,000	1,985,000	2,111,000
License and Maintenance [Member]
Revenue
Revenues	4,756,000	3,916,000	13,087,000	11,764,000
Consulting Fees [Member]
Revenue
Revenues	940,000	869,000	2,147,000	3,027,000
Service, Other [Member]
Revenue
Revenues	$ 866,000	$ 853,000	$ 2,613,000	$ 2,477,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities
Net income	$ 13,535,000	$ 157,000
Adjustments to reconcile net income to net cash used in operations
Depreciation and amortization	3,022,000	4,204,000
Deferred income taxes	(17,157,000)	(3,347,000)
Gains on sale of bonds and capital asset	(3,182,000)
Discounts earned on bonds		(2,000)
(Increase) decrease in current assets
Accounts receivable, net	(2,954,000)	(942,000)
Inventories	(13,000)	(8,000)
Prepaid expenses and other assets	311,000	(133,000)
Income tax receivable	(599,000)	(66,000)
Increase (decrease) in liabilities
Accounts payable	567,000	270,000
Accrued liabilities	361,000	(313,000)
Income taxes		(2,723,000)
Net cash used in operating activities	(6,250,000)	(3,430,000)
Cash flows from investing activities
Sales (purchases) of marketable securities	(8,125,000)
Sales (purchases) of marketable securities		(5,013,000)
Purchases of property, plant and equipment, net	(199,000)	(251,000)
Net cash provided by (used in) investing activities	7,926,000	(5,264,000)
Cash flows from financing activities
Payment of real estate loan principal	(86,000)	(82,000)
Net cash used in financing activities	(86,000)	(82,000)
Increase (decrease) in cash and cash equivalents	1,590,000	(8,776,000)
Cash and cash equivalents
Beginning of period	3,384,000	11,411,000
End of period	4,974,000	2,635,000
Interest paid during period	524,000	359,000
Net income taxes paid during period	6,000	1,000
Subscription and Circulation [Member]
Increase (decrease) in liabilities
Deferred revenue arrangements	(47,000)	(501,000)
License and Maintenance [Member]
Increase (decrease) in liabilities
Deferred revenue arrangements	1,268,000	817,000
Installation Contracts [Member]
Increase (decrease) in liabilities
Deferred revenue arrangements	$ (1,362,000)	$ (843,000)

Note 1 - The Corporation and Op

Note 1 - The Corporation and Operations	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1 Daily Journal Corporation (the “Company”) publishes newspapers and websites covering California and Arizona 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, supplies case management software systems and related products to courts, prosecutor and public defender offices, probation departments and other justice agencies, including administrative law organizations, city and county governments and bar associations. These organizations use the Journal Technologies family of products to help manage cases and information electronically, to interface with other critical justice partners and to extend electronic services to the public, including efiling and a website to pay traffic citations online, and bar members. These products are licensed to more than 500 42 Essentially all of the Company’s operations are based in California, Arizona, Colorado and Utah.

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Basis of Accounting [Text Block]	Note 2 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 presentation of its financial position as of June 30, 2018, three nine June 30, 2018 2017 nine June 30, 2018 2017. nine June 30, 2018 not 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 10 September 30, 2017. Certain reclassifications of previously reported amounts have been made to conform to the current year’s presentation.

Note 3 - Accounting Standards A

Note 3 - Accounting Standards Adopted in Fiscal 2018 and Recent Accounting Pronouncements	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Note 3 2018 Accounting Standards Adopted in Fiscal 201 8 In November 2015, No. 2015 17, Income Taxes (Topic 740 October 1, 2017 no In February 2018, 220 10, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (“AOCI”) December 15, 2018, first first January 1, 2018. not $19,960,000 In May 2014, No. 2014 09, Revenue from Contracts with Customers (ASC Topic 606 ) 606 October 1, 2017 The Company has concluded that the adoption of the ASC Topic 606 2018 no not not 606, no The adoption of ASC 606 no not Other Recent Accounting Pronouncements The Company will continue to evaluate the other new accounting pronouncements as detailed in its Annual Report on Form 10 September 30, 2017.

Note 4 - Revenue Recognition

Note 4 - Revenue Recognition	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Deferred Revenue Disclosure [Text Block]	Note 4 The Company recognizes revenues in accordance with the provisions of ASU No. 2014 09, Revenue from Contracts with Customers (ASC Topic 606 Journal Technologies contracts may one third not third 12 606 Since the Company recognizes revenues when it can invoice the customer pursuant to the contract for the value of completed performance, as a practical expedient and because reliable estimates cannot be made, it has elected not not no not

Note 5 - Basic and Diluted Inco

Note 5 - Basic and Diluted Income Per Share	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 5 The Company does not

Note 6 - Investments in Marketa

Note 6 - Investments in Marketable Securities	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	Note 6 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 1 820, Fair Value Measurement June 30, 2018 September 30, 2017, $149,050,000 $165,872,000, $39,683,000 $64,550,000, three one Investments in equity securities and securities with fixed maturity as of June 30, 2018 September 30, 2017 June 30, 2018 September 30, 2017 (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 $ 207,499,000 $ 58,449,000 $ 149,050,000 $ 220,973,000 $ 58,449,000 $ 162,524,000 Bonds --- --- --- 8,292,000 4,944,000 3,348,000 $ 207,499,000 $ 58,449,000 $ 149,050,000 $ 229,265,000 $ 63,393,000 $ 165,872,000 All investments are classified as “Current assets” because they are available for sale at any time. In February 2018, $8,125,000, $3,180,000, $30,000 As of June 30, 2018, not June 30, 2018,

Note 7 - Intangible Assets

Note 7 - Intangible Assets	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	Note 7 Intangible Assets June 30, 2018 September 30, 2017 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 (21,495,000 ) (2,481,000 ) (23,976,000 ) (19,174,000 ) (2,243,000 ) (21,417,000 ) $ 455,000 $ 44,000 $ 499,000 $ 2,776,000 $ 282,000 $ 3,058,000 These intangible assets are being amortized over five 15 $2,559,000 nine June 30, 2018, $3,671,000 one two 2013 first 2018.

Note 8 - Goodwill

Note 8 - Goodwill	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Goodwill Disclosure [Text Block]	Note 8 The Company accounts for goodwill in accordance with Accounting Standards Codification (ASC) 350, Intangibles — Goodwill and Other not 15 may not In addition, ASU 2011 08, Intangible – Goodwill and Others -- Testing Goodwill for Impairment no not second 2017 not no nine June 30, 2018 2017.

Note 9 - Income Taxes

Note 9 - Income Taxes	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 9 The December 2017 35% 21%, January 1, 2018. 24.28% 15, $16 2018 24.28% 2018 21% $20 $20 For the nine June 30, 2018, $17,660,000 $4,125,000. 2018 nine June 30, 2018. During the prior fiscal year, on pretax loss of $5,858,000 nine June 30, 2017, $6,015,000 2017 nine June 30, 2017 $2,665,000 2013. 2014 no $743,000. $352,000, The Company’s effective tax rate was 428% 103% nine June 30, 2018 2017, The Company files consolidated federal income tax returns in the United States and with various state jurisdictions and is no 2015 2013

Note 10 - Debt and Commitments

Note 10 - Debt and Commitments	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Commitments Disclosure [Text Block]	Note 10 During fiscal 2013, $29.5 two 50 June 30, 2018 2.5%. not In fiscal 2015, 30,700 1998 3.6 $1.24 $2.26 4.66% $17,600 2030. $1.99 June 30, 2018. The Company also owns its facilities in Los Angeles and leases space for its other offices under operating leases which expire at various dates through fiscal 2021. 2014, five October 2019) $25,000 6,200 2017, 9,800 August 2020) The Company is responsible for a portion of maintenance, insurance and property tax expenses relating to the leased properties. Rental expenses were $741,000 nine June 30, 2018, $537,000

Note 11 - Contingencies

Note 11 - Contingencies	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 11 From time to time, the Company is subject to contingencies, including litigation, arising in the normal course of its business. While it is not not

Note 12 - Operating Segments

Note 12 - Operating Segments	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 12 The Company’s reportable segments are: (i) the Traditional Business and (ii) Journal Technologies. All inter-segment transactions were eliminated. Summarized financial information regarding the Company’s reportable segments is shown in the following table: Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Nine months ended June 30, 2018 Revenues Advertising $ 6,700,000 $ --- $ --- $ 6,700,000 Circulation 4,065,000 --- --- 4,065,000 Advertising service fees and other 1,985,000 --- --- 1,985,000 Licensing and maintenance fees --- 13,087,000 --- 13,087,000 Consulting fees --- 2,147,000 --- 2,147,000 Other public service fees --- 2,613,000 --- 2,613,000 Operating expenses 12,721,000 28,403,000 --- 41,124,000 Income (loss) from operations 29,000 (10,556,000 ) --- (10,527,000 ) Dividends and interest income --- --- 3,722,000 3,722,000 Gains on sales of bonds and capital asset --- --- 3,182,000 3,182,000 Other income --- --- 28,000 28,000 Interest expenses on note payable collateralized by real estate (72,000 ) --- --- (72,000 ) Interest expenses on margin loans --- --- (458,000 ) (458,000 ) Pretax (loss) income (43,000 ) (10,556,000 ) 6,474,000 (4,125,000 ) Income tax benefit (expense) --- (455,000 ) 18,115,000 17,660,000 Net income (loss) (43,000 ) (11,011,000 ) 24,589,000 13,535,000 Total assets 20,851,000 29,818,000 207,499,000 258,168,000 Capital expenditures, net 199,000 --- --- 199,000 Amortization of intangible assets --- 2,559,000 --- 2,559,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Nine months ended June 30, 2017 Revenues Advertising $ 6,833,000 $ --- $ --- $ 6,833,000 Circulation 4,258,000 --- --- 4,258,000 Advertising service fees and other 2,111,000 --- --- 2,111,000 Licensing and maintenance fees --- 11,764,000 --- 11,764,000 Consulting fees --- 3,027,000 --- 3,027,000 Other public service fees --- 2,477,000 --- 2,477,000 Operating expenses 13,295,000 26,927,000 --- 40,222,000 Loss from operations (93,000 ) (9,659,000 ) --- (9,752,000 ) Dividends and interest income --- --- 3,491,000 3,491,000 Other income 22,000 --- 3,000 25,000 Interest expenses on note payable collateralized by real estate (75,000 ) --- --- (75,000 ) Interest expenses on margin loans --- --- (290,000 ) (290,000 ) Interest and penalty expense reversal for uncertain and unrecognized tax benefits --- 743,000 --- 743,000 Pretax (loss) income (146,000 ) (8,916,000 ) 3,204,000 (5,858,000 ) Income tax (expense) benefit (125,000 ) 6,690,000 (550,000 ) 6,015,000 Net income (loss) (271,000 ) (2,226,000 ) 2,654,000 157,000 Total assets 16,333,000 34,517,000 210,553,000 261,403,000 Capital expenditures 160,000 91,000 --- 251,000 Amortization of intangible assets --- 3,671,000 --- 3,671,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Three months ended June 30, 2018 Revenues Advertising $ 2,375,000 $ --- $ --- $ 2,375,000 Circulation 1,346,000 --- --- 1,346,000 Advertising service fees and other 724,000 --- --- 724,000 Licensing and maintenance fees --- 4,756,000 --- 4,756,000 Consulting fees --- 940,000 --- 940,000 Other public service fees --- 866,000 --- 866,000 Operating expenses 4,214,000 9,502,000 --- 13,716,000 Income (loss) from operations 231,000 (2,940,000 ) --- (2,709,000 ) Dividends and interest income --- --- 1,215,000 1,215,000 Other income --- --- 9,000 9,000 Interest expenses on note payable collateralized by real estate (24,000 ) --- --- (24,000 ) Interest expenses on margin loans --- --- (173,000 ) (173,000 ) Pretax (loss) income 207,000 (2,940,000 ) 1,051,000 (1,682,000 ) Income tax benefit (expense) 785,000 480,000 (555,000 ) 710,000 Net income (loss) 992,000 (2,460,000 ) 496,000 (972,000 ) Total assets 20,851,000 29,818,000 207,499,000 258,168,000 Capital expenditures, net 124,000 --- --- 124,000 Amortization of intangible assets --- 749,000 --- 749,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Three months ended June 30, 2017 Revenues Advertising $ 2,400,000 $ --- $ --- $ 2,400,000 Circulation 1,385,000 --- --- 1,385,000 Advertising service fees and other 778,000 --- --- 778,000 Licensing and maintenance fees --- 3,916,000 --- 3,916,000 Consulting fees --- 869,000 --- 869,000 Other public service fees --- 853,000 --- 853,000 Operating expenses 4,432,000 9,402,000 --- 13,834,000 Loss from operations 131,000 (3,764,000 ) --- (3,633,000 ) Dividends and interest income --- --- 952,000 952,000 Other income 1,000 --- 3,000 4,000 Interest expenses on note payable collateralized by real estate (24,000 ) --- --- (24,000 ) Interest expenses on margin loans --- --- (115,000 ) (115,000 ) Pretax (loss) income 108,000 (3,764,000 ) 840,000 (2,816,000 ) Income tax (expense) benefit (50,000 ) 1,570,000 (55,000 ) 1,465,000 Net income (loss) 58,000 (2,194,000 ) 785,000 (1,351,000 ) Total assets 16,333,000 34,517,000 210,553,000 261,403,000 Capital expenditures --- 57,000 --- 57,000 Amortization of intangible assets --- 1,224,000 --- 1,224,000 During the nine June 30, 2018, $12,750,000 $8,685,000 $4,065,000 $17,847,000 $5,873,000 $11,974,000 During the three June 30, 2018, $4,445,000 $3,099,000 $1,346,000 $6,562,000 $2,520,000 $4,042,000 Approximately 60% 58% three nine June 30, 2018, 55% 57% 1% The following table sets forth certain deferred obligations from October 1, 2017 June 30, 2018: Beginning Balance Addition Recognized Ending Balance Deferred subscriptions $ 3,284,000 $ 4,018,000 $ (4,065,000 ) $ 3,237,000 Deferred installation contracts 5,072,000 1,898,000 (3,260,000 ) 3,710,000 Deferred maintenance agreements and others 10,201,000 13,242,000 (11,974,000 ) 11,469,000

Note 13 - Subsequent Events

Note 13 - Subsequent Events	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Subsequent Events [Text Block]	Note 13 The Company has completed an evaluation of all subsequent events through the issuance date of these financial statements and concluded that no

Note 6 - Investments in Marke19

Note 6 - Investments in Marketable Securities (Tables)	9 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	June 30, 2018 September 30, 2017 (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 $ 207,499,000 $ 58,449,000 $ 149,050,000 $ 220,973,000 $ 58,449,000 $ 162,524,000 Bonds --- --- --- 8,292,000 4,944,000 3,348,000 $ 207,499,000 $ 58,449,000 $ 149,050,000 $ 229,265,000 $ 63,393,000 $ 165,872,000

Note 7 - Intangible Assets (Tab

Note 7 - Intangible Assets (Tables)	9 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Intangible Assets June 30, 2018 September 30, 2017 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 (21,495,000 ) (2,481,000 ) (23,976,000 ) (19,174,000 ) (2,243,000 ) (21,417,000 ) $ 455,000 $ 44,000 $ 499,000 $ 2,776,000 $ 282,000 $ 3,058,000

Note 12 - Operating Segments (T

Note 12 - Operating Segments (Tables)	9 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Nine months ended June 30, 2018 Revenues Advertising $ 6,700,000 $ --- $ --- $ 6,700,000 Circulation 4,065,000 --- --- 4,065,000 Advertising service fees and other 1,985,000 --- --- 1,985,000 Licensing and maintenance fees --- 13,087,000 --- 13,087,000 Consulting fees --- 2,147,000 --- 2,147,000 Other public service fees --- 2,613,000 --- 2,613,000 Operating expenses 12,721,000 28,403,000 --- 41,124,000 Income (loss) from operations 29,000 (10,556,000 ) --- (10,527,000 ) Dividends and interest income --- --- 3,722,000 3,722,000 Gains on sales of bonds and capital asset --- --- 3,182,000 3,182,000 Other income --- --- 28,000 28,000 Interest expenses on note payable collateralized by real estate (72,000 ) --- --- (72,000 ) Interest expenses on margin loans --- --- (458,000 ) (458,000 ) Pretax (loss) income (43,000 ) (10,556,000 ) 6,474,000 (4,125,000 ) Income tax benefit (expense) --- (455,000 ) 18,115,000 17,660,000 Net income (loss) (43,000 ) (11,011,000 ) 24,589,000 13,535,000 Total assets 20,851,000 29,818,000 207,499,000 258,168,000 Capital expenditures, net 199,000 --- --- 199,000 Amortization of intangible assets --- 2,559,000 --- 2,559,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Nine months ended June 30, 2017 Revenues Advertising $ 6,833,000 $ --- $ --- $ 6,833,000 Circulation 4,258,000 --- --- 4,258,000 Advertising service fees and other 2,111,000 --- --- 2,111,000 Licensing and maintenance fees --- 11,764,000 --- 11,764,000 Consulting fees --- 3,027,000 --- 3,027,000 Other public service fees --- 2,477,000 --- 2,477,000 Operating expenses 13,295,000 26,927,000 --- 40,222,000 Loss from operations (93,000 ) (9,659,000 ) --- (9,752,000 ) Dividends and interest income --- --- 3,491,000 3,491,000 Other income 22,000 --- 3,000 25,000 Interest expenses on note payable collateralized by real estate (75,000 ) --- --- (75,000 ) Interest expenses on margin loans --- --- (290,000 ) (290,000 ) Interest and penalty expense reversal for uncertain and unrecognized tax benefits --- 743,000 --- 743,000 Pretax (loss) income (146,000 ) (8,916,000 ) 3,204,000 (5,858,000 ) Income tax (expense) benefit (125,000 ) 6,690,000 (550,000 ) 6,015,000 Net income (loss) (271,000 ) (2,226,000 ) 2,654,000 157,000 Total assets 16,333,000 34,517,000 210,553,000 261,403,000 Capital expenditures 160,000 91,000 --- 251,000 Amortization of intangible assets --- 3,671,000 --- 3,671,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Three months ended June 30, 2018 Revenues Advertising $ 2,375,000 $ --- $ --- $ 2,375,000 Circulation 1,346,000 --- --- 1,346,000 Advertising service fees and other 724,000 --- --- 724,000 Licensing and maintenance fees --- 4,756,000 --- 4,756,000 Consulting fees --- 940,000 --- 940,000 Other public service fees --- 866,000 --- 866,000 Operating expenses 4,214,000 9,502,000 --- 13,716,000 Income (loss) from operations 231,000 (2,940,000 ) --- (2,709,000 ) Dividends and interest income --- --- 1,215,000 1,215,000 Other income --- --- 9,000 9,000 Interest expenses on note payable collateralized by real estate (24,000 ) --- --- (24,000 ) Interest expenses on margin loans --- --- (173,000 ) (173,000 ) Pretax (loss) income 207,000 (2,940,000 ) 1,051,000 (1,682,000 ) Income tax benefit (expense) 785,000 480,000 (555,000 ) 710,000 Net income (loss) 992,000 (2,460,000 ) 496,000 (972,000 ) Total assets 20,851,000 29,818,000 207,499,000 258,168,000 Capital expenditures, net 124,000 --- --- 124,000 Amortization of intangible assets --- 749,000 --- 749,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Three months ended June 30, 2017 Revenues Advertising $ 2,400,000 $ --- $ --- $ 2,400,000 Circulation 1,385,000 --- --- 1,385,000 Advertising service fees and other 778,000 --- --- 778,000 Licensing and maintenance fees --- 3,916,000 --- 3,916,000 Consulting fees --- 869,000 --- 869,000 Other public service fees --- 853,000 --- 853,000 Operating expenses 4,432,000 9,402,000 --- 13,834,000 Loss from operations 131,000 (3,764,000 ) --- (3,633,000 ) Dividends and interest income --- --- 952,000 952,000 Other income 1,000 --- 3,000 4,000 Interest expenses on note payable collateralized by real estate (24,000 ) --- --- (24,000 ) Interest expenses on margin loans --- --- (115,000 ) (115,000 ) Pretax (loss) income 108,000 (3,764,000 ) 840,000 (2,816,000 ) Income tax (expense) benefit (50,000 ) 1,570,000 (55,000 ) 1,465,000 Net income (loss) 58,000 (2,194,000 ) 785,000 (1,351,000 ) Total assets 16,333,000 34,517,000 210,553,000 261,403,000 Capital expenditures --- 57,000 --- 57,000 Amortization of intangible assets --- 1,224,000 --- 1,224,000
Deferred Revenue, by Arrangement, Disclosure [Table Text Block]	Beginning Balance Addition Recognized Ending Balance Deferred subscriptions $ 3,284,000 $ 4,018,000 $ (4,065,000 ) $ 3,237,000 Deferred installation contracts 5,072,000 1,898,000 (3,260,000 ) 3,710,000 Deferred maintenance agreements and others 10,201,000 13,242,000 (11,974,000 ) 11,469,000

Note 3 - Accounting Standards22

Note 3 - Accounting Standards Adopted in Fiscal 2018 and Recent Accounting Pronouncements (Details Textual)	Jun. 30, 2018USD ($)
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	$ 19,960,000

Note 6 - Investments in Marke23

Note 6 - Investments in Marketable Securities (Details Textual) - USD ($)	1 Months Ended
	Feb. 28, 2018	Jun. 30, 2018	Sep. 30, 2017
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax, Total		$ 149,050,000	$ 165,872,000
Deferred Tax Liabilities, Investments		39,683,000	64,550,000
Bonds [Member]
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax, Total			$ 3,348,000
Proceeds from Sale of Available-for-sale Securities, Total	$ 8,125,000
Debt Securities, Available-for-sale, Realized Gain (Loss), Total	3,180,000
Reclassification of Tax Effect from AOCI to Retained Earnings	$ 30,000

Note 6 - Investments in Marke24

Note 6 - Investments in Marketable Securities - Summary of Investments (Details) - USD ($)	Jun. 30, 2018	Sep. 30, 2017
Aggregate fair value	$ 207,499,000	$ 229,265,000
Amortized/Adjusted cost basis	58,449,000	63,393,000
Pretax unrealized gains	149,050,000	165,872,000
Common Stock [Member]
Aggregate fair value	207,499,000	220,973,000
Amortized/Adjusted cost basis	58,449,000	58,449,000
Pretax unrealized gains	149,050,000	162,524,000
Bonds [Member]
Aggregate fair value		8,292,000
Amortized/Adjusted cost basis		4,944,000
Pretax unrealized gains		$ 3,348,000

Note 7 - Intangible Assets (Det

Note 7 - Intangible Assets (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Finite-Lived Intangible Asset, Useful Life			5 years
Finite Lived Intangible Asset, Useful Life for Tax Purposes			15 years
Amortization of Intangible Assets, Total	$ 749,000	$ 1,224,000	$ 2,559,000	$ 3,671,000

Note 7 - Intangible Assets - Su

Note 7 - Intangible Assets - Summary of Intangible Assets (Details) - USD ($)	Jun. 30, 2018	Sep. 30, 2017
Gross intangibles	$ 24,475,000	$ 24,475,000
Accumulated amortization	(23,976,000)	(21,417,000)
	499,000	3,058,000
Customer Relationships [Member]
Gross intangibles	21,950,000	21,950,000
Accumulated amortization	(21,495,000)	(19,174,000)
	455,000	2,776,000
Developed Technology Rights [Member]
Gross intangibles	2,525,000	2,525,000
Accumulated amortization	(2,481,000)	(2,243,000)
	$ 44,000	$ 282,000

Note 8 - Goodwill (Details Text

Note 8 - Goodwill (Details Textual) - USD ($) $ in Thousands	6 Months Ended	9 Months Ended		12 Months Ended
	Mar. 31, 2018	Jun. 30, 2018	Jun. 30, 2017	Sep. 30, 2017
Goodwill, Useful Life for Tax Purposes	15 years
Goodwill, Impairment Loss		$ 0	$ 0	$ 0

Note 9 - Income Taxes (Details

Note 9 - Income Taxes (Details Textual) - USD ($)	3 Months Ended		6 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Mar. 31, 2017	Jun. 30, 2018	Jun. 30, 2017	Sep. 30, 2018	Dec. 31, 2017
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%					35.00%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability					$ (16,000,000)
Income Tax Expense (Benefit), Continuing Operations, Revaluation Differences in Deferred Taxes					(20,000,000)
Income Tax Expense (Benefit), Total	$ (710,000)	$ (1,465,000)			(17,660,000)	$ (6,015,000)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total					$ (4,125,000)	$ (5,858,000)
Liability For Uncertain Tax Positions, Reversal				$ 2,665,000
Unrecognized Tax Benefits, Accumulated Reduction				743,000
Deferred Tax Liability, Reversal				$ 352,000
Effective Income Tax Rate Reconciliation, Percent, Total					428.00%	103.00%
Domestic Tax Authority [Member] | Earliest Tax Year [Member]
Open Tax Year					2,015
State and Local Jurisdiction [Member] | Earliest Tax Year [Member]
Open Tax Year					2,013
Scenario, Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent							24.28%

Note 10 - Debt and Commitments

Note 10 - Debt and Commitments (Details Textual)	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Sep. 30, 2015USD ($)ft²a	Sep. 30, 2014USD ($)ft²	Sep. 30, 2013USD ($)	Sep. 30, 2017ft²
Payments to Acquire Property, Plant, and Equipment, Total	$ 124,000	$ 57,000	$ 199,000	$ 251,000
Operating Leases, Rent Expense, Net, Total			$ 741,000	$ 537,000
San Francisco Office [Member]
Area of Real Estate Property | ft²						6,200
Lessee, Operating Lease, Renewal Term						5 years
Operating Lease, Monthly Rent						$ 25,000
Englewood, Colorado Office [member]
Area of Real Estate Property | ft²								9,800
Utah [Member] | Building [Member]
Area of Real Estate Property | ft²					30,700
Utah [Member] | Land [Member]
Area of Land | a					3.6
Utah [Member] | Land and Building [Member]
Payments to Acquire Property, Plant, and Equipment, Total					$ 1,240,000
Margin Account [Member]
Proceeds from Issuance of Debt							$ 29,500,000
Margin Account [Member] | Fed Funds Rate [Member]
Debt Instrument, Basis Spread on Variable Rate							0.50%
Debt Instrument, Interest Rate, Effective Percentage	2.50%		2.50%
Real Estate Bank Loan Secured by Logan Office [Member]
Loans Payable to Bank, Total	$ 1,990,000		$ 1,990,000		$ 2,260,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate					4.66%
Debt Instrument, Periodic Payment, Total					$ 17,600

Note 12 - Operating Segments (D

Note 12 - Operating Segments (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenue from Contract with Customer, Including Assessed Tax	$ 11,007,000	$ 10,201,000	$ 30,597,000	$ 30,470,000
Product Concentration Risk [Member] | Sales Revenue, Net [Member]
Concentration Risk, Percentage	60.00%	55.00%	58.00%	57.00%
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | Non-US [Member]
Concentration Risk, Percentage			1.00%
Traditional Business [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 4,445,000		$ 12,750,000
Traditional Business [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer, Including Assessed Tax	3,099,000		8,685,000
Traditional Business [Member] | Transferred over Time [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 1,346,000		4,065,000
Journal Technologies [Member]
Revenue from Contract with Customer, Including Assessed Tax		$ 6,562,000	17,847,000
Journal Technologies [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer, Including Assessed Tax		2,520,000	5,873,000
Journal Technologies [Member] | Transferred over Time [Member]
Revenue from Contract with Customer, Including Assessed Tax		$ 4,042,000	$ 11,974,000

Note 12 - Operating Segments -

Note 12 - Operating Segments - Summarized Financial Information for Reportable Segments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Sep. 30, 2017
Revenues	$ 11,007,000	$ 10,201,000	$ 30,597,000	$ 30,470,000
Operating expenses	13,716,000	13,834,000	41,124,000	40,222,000
Income (loss) from operations	(2,709,000)	(3,633,000)	(10,527,000)	(9,752,000)
Dividends and interest income	1,215,000	952,000	3,722,000	3,491,000
Gains on sales of bonds and capital asset			3,182,000
Other income	9,000	4,000	28,000	25,000
Pretax (loss) income	(1,682,000)	(2,816,000)	(4,125,000)	(5,858,000)
Income tax benefit (expense)	710,000	1,465,000	17,660,000	6,015,000
Net income	(972,000)	(1,351,000)	13,535,000	157,000
Total assets	258,168,000	261,403,000	258,168,000	261,403,000	$ 280,708,000
Capital expenditures, net	124,000	57,000	199,000	251,000
Amortization of intangible assets	749,000	1,224,000	2,559,000	3,671,000
Reversal of accrued interest and penalty expense for uncertain and unrecognized tax benefits				743,000
Capital expenditures	124,000	57,000	199,000	251,000
Real Estate Bank Loan Secured by Logan Office [Member]
Interest expense on debt	(24,000)	(24,000)	(72,000)	(75,000)
Margin Account [Member]
Interest expense on debt	(173,000)	(115,000)	(458,000)	(290,000)
Advertising [Member]
Revenues	2,375,000	2,400,000	6,700,000	6,833,000
Subscription and Circulation [Member]
Revenues	1,346,000	1,385,000	4,065,000	4,258,000
Advertising Service Fees and Other [Member]
Revenues	724,000	778,000	1,985,000	2,111,000
License and Maintenance [Member]
Revenues	4,756,000	3,916,000	13,087,000	11,764,000
Consulting Fees [Member]
Revenues	940,000	869,000	2,147,000	3,027,000
Service, Other [Member]
Revenues	866,000	853,000	2,613,000	2,477,000
Traditional Business [Member]
Revenues	4,445,000		12,750,000
Journal Technologies [Member]
Revenues		6,562,000	17,847,000
Operating Segments [Member] | Traditional Business [Member]
Operating expenses	4,214,000	4,432,000	12,721,000	13,295,000
Income (loss) from operations	231,000	131,000	29,000	(93,000)
Dividends and interest income
Gains on sales of bonds and capital asset
Other income		1,000		22,000
Pretax (loss) income	207,000	108,000	(43,000)	(146,000)
Income tax benefit (expense)	785,000	(50,000)		(125,000)
Net income	992,000	58,000	(43,000)	(271,000)
Total assets	20,851,000	16,333,000	20,851,000	16,333,000
Capital expenditures, net	124,000		199,000	160,000
Amortization of intangible assets
Reversal of accrued interest and penalty expense for uncertain and unrecognized tax benefits
Capital expenditures	124,000		199,000	160,000
Operating Segments [Member] | Traditional Business [Member] | Real Estate Bank Loan Secured by Logan Office [Member]
Interest expense on debt	(24,000)	(24,000)	(72,000)	(75,000)
Operating Segments [Member] | Traditional Business [Member] | Margin Account [Member]
Interest expense on debt
Operating Segments [Member] | Traditional Business [Member] | Advertising [Member]
Revenues	2,375,000	2,400,000	6,700,000	6,833,000
Operating Segments [Member] | Traditional Business [Member] | Subscription and Circulation [Member]
Revenues	1,346,000	1,385,000	4,065,000	4,258,000
Operating Segments [Member] | Traditional Business [Member] | Advertising Service Fees and Other [Member]
Revenues	724,000	778,000	1,985,000	2,111,000
Operating Segments [Member] | Traditional Business [Member] | License and Maintenance [Member]
Revenues
Operating Segments [Member] | Traditional Business [Member] | Consulting Fees [Member]
Revenues
Operating Segments [Member] | Traditional Business [Member] | Service, Other [Member]
Revenues
Operating Segments [Member] | Journal Technologies [Member]
Operating expenses	9,502,000	9,402,000	28,403,000	26,927,000
Income (loss) from operations	(2,940,000)	(3,764,000)	(10,556,000)	(9,659,000)
Dividends and interest income
Gains on sales of bonds and capital asset
Other income
Pretax (loss) income	(2,940,000)	(3,764,000)	(10,556,000)	(8,916,000)
Income tax benefit (expense)	480,000	1,570,000	(455,000)	6,690,000
Net income	(2,460,000)	(2,194,000)	(11,011,000)	(2,226,000)
Total assets	29,818,000	34,517,000	29,818,000	34,517,000
Capital expenditures, net		57,000		91,000
Amortization of intangible assets	749,000	1,224,000	2,559,000	3,671,000
Reversal of accrued interest and penalty expense for uncertain and unrecognized tax benefits				743,000
Capital expenditures		57,000		91,000
Operating Segments [Member] | Journal Technologies [Member] | Real Estate Bank Loan Secured by Logan Office [Member]
Interest expense on debt
Operating Segments [Member] | Journal Technologies [Member] | Margin Account [Member]
Interest expense on debt
Operating Segments [Member] | Journal Technologies [Member] | Advertising [Member]
Revenues
Operating Segments [Member] | Journal Technologies [Member] | Subscription and Circulation [Member]
Revenues
Operating Segments [Member] | Journal Technologies [Member] | Advertising Service Fees and Other [Member]
Revenues
Operating Segments [Member] | Journal Technologies [Member] | License and Maintenance [Member]
Revenues	4,756,000	3,916,000	13,087,000	11,764,000
Operating Segments [Member] | Journal Technologies [Member] | Consulting Fees [Member]
Revenues	940,000	869,000	2,147,000	3,027,000
Operating Segments [Member] | Journal Technologies [Member] | Service, Other [Member]
Revenues	866,000	853,000	2,613,000	2,477,000
Corporate, Non-Segment [Member]
Operating expenses
Income (loss) from operations
Dividends and interest income	1,215,000	952,000	3,722,000	3,491,000
Gains on sales of bonds and capital asset			3,182,000
Other income	9,000	3,000	28,000	3,000
Pretax (loss) income	1,051,000	840,000	6,474,000	3,204,000
Income tax benefit (expense)	(555,000)	(55,000)	18,115,000	(550,000)
Net income	496,000	785,000	24,589,000	2,654,000
Total assets	207,499,000	210,553,000	207,499,000	210,553,000
Capital expenditures, net
Amortization of intangible assets
Reversal of accrued interest and penalty expense for uncertain and unrecognized tax benefits
Capital expenditures
Corporate, Non-Segment [Member] | Real Estate Bank Loan Secured by Logan Office [Member]
Interest expense on debt
Corporate, Non-Segment [Member] | Margin Account [Member]
Interest expense on debt	(173,000)	(115,000)	(458,000)	(290,000)
Corporate, Non-Segment [Member] | Advertising [Member]
Revenues
Corporate, Non-Segment [Member] | Subscription and Circulation [Member]
Revenues
Corporate, Non-Segment [Member] | Advertising Service Fees and Other [Member]
Revenues
Corporate, Non-Segment [Member] | License and Maintenance [Member]
Revenues
Corporate, Non-Segment [Member] | Consulting Fees [Member]
Revenues
Corporate, Non-Segment [Member] | Service, Other [Member]
Revenues

Note 12 - Operating Segments 32

Note 12 - Operating Segments - Deferred Revenue Obligations (Details)	9 Months Ended
	Jun. 30, 2018USD ($)
Subscription and Circulation [Member]
Deferred revenue	$ 3,284,000
Deferred Revenue, Additions	4,018,000
Deferred Revenue, Revenue Recognized	(4,065,000)
Deferred revenue	3,237,000
Installation Contracts [Member]
Deferred revenue	5,072,000
Deferred Revenue, Additions	1,898,000
Deferred Revenue, Revenue Recognized	(3,260,000)
Deferred revenue	3,710,000
License and Maintenance [Member]
Deferred revenue	10,201,000
Deferred Revenue, Additions	13,242,000
Deferred Revenue, Revenue Recognized	(11,974,000)
Deferred revenue	$ 11,469,000