Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Dec. 31, 2019 | Jan. 31, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | DAILY JOURNAL CORPORATION | |
Entity Central Index Key | 0000783412 | |
Trading Symbol | djco | |
Current Fiscal Year End Date | --09-30 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Common Stock, Shares Outstanding (in shares) | 1,380,746 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock, par value $.01 per share | |
Entity Interactive Data Current | Yes |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Dec. 31, 2019 | Sep. 30, 2019 |
Current assets | ||
Cash and cash equivalents | $ 7,376,000 | $ 10,630,000 |
Marketable securities | 214,112,000 | 194,581,000 |
Accounts receivable, less allowance for doubtful accounts of $200,000 at December 31, 2019 and September 30, 2019 | 7,532,000 | 7,036,000 |
Inventories | 49,000 | 40,000 |
Prepaid expenses and other current assets | 758,000 | 508,000 |
Income tax receivable | 72,000 | 153,000 |
Total current assets | 229,899,000 | 212,948,000 |
Property, plant and equipment, at cost | ||
Land, buildings and improvements | 16,534,000 | 16,499,000 |
Furniture, office equipment and computer software | 2,181,000 | 2,119,000 |
Machinery and equipment | 1,750,000 | 1,750,000 |
20,465,000 | 20,368,000 | |
Less accumulated depreciation | (9,700,000) | (9,572,000) |
10,765,000 | 10,796,000 | |
Operating lease right-of-use assets | 390,000 | |
Deferred income taxes - Federal | 13,039,000 | 12,596,000 |
Deferred income taxes - State | 766,000 | 1,036,000 |
Total Assets | 254,859,000 | 237,376,000 |
Current liabilities | ||
Accounts payable | 3,857,000 | 4,520,000 |
Accrued liabilities | 5,008,000 | 5,173,000 |
Note payable collateralized by real estate | 128,000 | 126,000 |
Total current liabilities | 28,668,000 | 30,668,000 |
Long term liabilities | ||
Investment margin account borrowings | 29,493,000 | 29,493,000 |
Note payable collateralized by real estate | 1,676,000 | 1,709,000 |
Deferred maintenance agreements | 211,000 | 335,000 |
Accrued liabilities | 290,000 | 230,000 |
Deferred income taxes | 42,611,000 | 37,241,000 |
Total long term liabilities | 74,281,000 | 69,008,000 |
Commitments and contingencies (Notes 8 and 9) | ||
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 December 31, 2019 and September 30, 2019 | 14,000 | 14,000 |
Additional paid-in capital | 1,755,000 | 1,755,000 |
Retained earnings | 150,141,000 | 135,931,000 |
Total shareholders' equity | 151,910,000 | 137,700,000 |
254,859,000 | 237,376,000 | |
Subscription and Circulation [Member] | ||
Current liabilities | ||
Deferred revenue | 2,892,000 | 3,195,000 |
Installation Contracts [Member] | ||
Current liabilities | ||
Deferred revenue | 2,012,000 | 1,932,000 |
License and Maintenance [Member] | ||
Current liabilities | ||
Deferred revenue | $ 14,771,000 | $ 15,722,000 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Dec. 31, 2019 | Sep. 30, 2019 |
Marketable securities | $ 214,112,000 | $ 194,581,000 |
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 |
Common Stock [Member] | ||
Marketable securities | $ 214,112,000 | $ 194,581,000 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) | 3 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Revenue | |||
Revenues | $ 11,677,000 | $ 10,428,000 | |
Costs and expenses | |||
Salaries and employee benefits | 8,887,000 | 8,655,000 | |
Outside services | 860,000 | 945,000 | |
Postage and delivery expenses | 210,000 | 204,000 | |
Newsprint and printing expenses | 178,000 | 176,000 | |
Depreciation and amortization | 128,000 | 153,000 | |
Equipment maintenance and software | 322,000 | 343,000 | |
Credit card merchant discount fees | 382,000 | 270,000 | |
Rent expenses | 172,000 | 258,000 | |
Accounting and legal fees | 256,000 | 403,000 | |
Other general and administrative expenses | 1,800,000 | 1,542,000 | |
13,195,000 | [1] | 12,949,000 | |
Loss from operations | (1,518,000) | (2,521,000) | |
Other income (expense) | |||
Dividends and interest income | 1,680,000 | 1,530,000 | |
Other income | 3,000 | 10,000 | |
Net unrealized gains on investments | 19,531,000 | (28,640,000) | |
Income (loss) before income taxes | 19,490,000 | (29,850,000) | |
(Provision for) benefit from income taxes | (5,280,000) | 8,317,000 | |
Net income (loss) | $ 14,210,000 | $ (21,533,000) | |
Weighted average number of common shares outstanding - basic and diluted (in shares) | 1,380,746 | 1,380,746 | |
Basic and diluted net income (loss) per share (in dollars per share) | $ 10.29 | $ (15.60) | |
Comprehensive income (loss) | $ 14,210,000 | $ (21,533,000) | |
Real Estate Bank Loan Secured by Logan Office [Member] | |||
Other income (expense) | |||
Interest expense on debt | (22,000) | (23,000) | |
Margin Account [Member] | |||
Other income (expense) | |||
Interest expense on debt | (184,000) | (206,000) | |
Advertising [Member] | |||
Revenue | |||
Revenues | 2,126,000 | 2,192,000 | |
Subscription and Circulation [Member] | |||
Revenue | |||
Revenues | 1,312,000 | 1,338,000 | |
Advertising Service Fees and Other [Member] | |||
Revenue | |||
Revenues | 694,000 | 669,000 | |
License and Maintenance [Member] | |||
Revenue | |||
Revenues | 5,210,000 | 4,790,000 | |
Consulting Fees [Member] | |||
Revenue | |||
Revenues | 689,000 | 541,000 | |
Service, Other [Member] | |||
Revenue | |||
Revenues | $ 1,646,000 | $ 898,000 | |
[1] | included goodwill impairment of $13,400,000 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Sep. 30, 2018 | 1,805,053 | (424,307) | ||||
Balance at Sep. 30, 2018 | $ 18,000 | $ (4,000) | $ 1,755,000 | $ 45,361,000 | $ 115,786,000 | $ 162,916,000 |
Adoption of new accounting pronouncement at Sep. 30, 2018 | 115,786,000 | (115,786,000) | ||||
Net loss | (21,533,000) | (21,533,000) | ||||
Balance (in shares) at Dec. 31, 2018 | 1,805,053 | (424,307) | ||||
Balance at Dec. 31, 2018 | $ 18,000 | $ (4,000) | 1,755,000 | 139,614,000 | 141,383,000 | |
Balance (in shares) at Sep. 30, 2019 | 1,805,053 | (424,307) | ||||
Balance at Sep. 30, 2019 | $ 18,000 | $ (4,000) | 1,755,000 | 135,931,000 | 137,700,000 | |
Net loss | 14,210,000 | 14,210,000 | ||||
Balance (in shares) at Dec. 31, 2019 | 1,805,053 | (424,307) | ||||
Balance at Dec. 31, 2019 | $ 18,000 | $ (4,000) | $ 1,755,000 | $ 150,141,000 | $ 151,910,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities | ||
Net income (loss) | $ 14,210,000 | $ (21,533,000) |
Adjustments to reconcile net loss to net cash used in operations | ||
Depreciation and amortization | 128,000 | 153,000 |
Net unrealized (gains) losses on investments | (19,531,000) | 28,640,000 |
Deferred income taxes | 5,197,000 | (8,408,000) |
(Increase) decrease in current assets | ||
Accounts receivable, net | (496,000) | (2,230,000) |
Inventories | (9,000) | (9,000) |
Prepaid expenses and other assets | (250,000) | 21,000 |
Income tax receivable | 81,000 | 212,000 |
Increase (decrease) in liabilities | ||
Accounts payable | (663,000) | 1,216,000 |
Accrued liabilities | (495,000) | (588,000) |
Net cash used in operating activities | (3,126,000) | (2,497,000) |
Cash flows from investing activities | ||
Purchases of property, plant and equipment | (97,000) | (84,000) |
Net cash used in investing activities | (97,000) | (84,000) |
Cash flows from financing activities | ||
Payment of real estate loan principal | (31,000) | (29,000) |
Net cash used in financing activities | (31,000) | (29,000) |
Decrease in cash and cash equivalents | (3,254,000) | (2,610,000) |
Cash and cash equivalents | ||
Beginning of period | 10,630,000 | 9,301,000 |
End of period | 7,376,000 | 6,691,000 |
Interest paid during period | 220,000 | 152,000 |
Net income taxes paid (refunded) | 1,000 | (121,000) |
Subscription and Circulation [Member] | ||
Increase (decrease) in liabilities | ||
Deferred revenue arrangements | (303,000) | (227,000) |
License and Maintenance [Member] | ||
Increase (decrease) in liabilities | ||
Deferred revenue arrangements | (1,075,000) | 368,000 |
Installation Contracts [Member] | ||
Increase (decrease) in liabilities | ||
Deferred revenue arrangements | $ 80,000 | $ (112,000) |
Note 1 - The Corporation and Op
Note 1 - The Corporation and Operations | 3 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 Daily Journal Corporation (the “Company”) publishes newspapers and web sites covering California and Arizona and produces several specialized information services. It also serves as a newspaper representative specializing in public notice advertising. This is sometimes referred to as the Company’s “Traditional Business”. Journal Technologies, Inc. (“Journal Technologies”), a wholly-owned subsidiary of Daily Journal, 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 and fees online, and bar members. These products are licensed to more than 500 42 Essentially all of the Company’s U.S. operations are based in California, Arizona, Colorado and Utah. The Company also has a presence in Australia where Journal Technologies is working on two |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 3 Months Ended |
Dec. 31, 2019 | |
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 December 31, 2019, three December 31, 2019 2018, three December 31, 2019 2018 three December 31, 2019 2018. three December 31, 2019 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, 2019. 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 2020 | 3 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 3 2020 In February 2016, 2016 02, Leases (Topic 842 first 2020, not December 31, 2019, $390,000 not one December 31, 2019, $20,000 one no |
Note 4 - Revenue Recognition
Note 4 - Revenue Recognition | 3 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [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 October 1, 2017, Journal Technologies contracts may one third not third ASC 606 no not 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 | 3 Months Ended |
Dec. 31, 2019 | |
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 | 3 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 6 All investments are classified as “Current assets” because they are available for sale at any time. These “available-for-sale” marketable securities 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 As of December 31, 2019, $160,223,000 No. 2016 01, 825 10 $19,531,000 three December 31, 2019 $28,640,000 September 30, 2019, $140,692,000 three one Investments in marketable securities as of December 31, 2019 September 30, 2019 Investments in Marketable Securities December 31, 2019 September 30, 2019 Aggregate fair value Adjusted cost basis Pretax net unrealized gains Aggregate fair value Amortized/ Adjusted cost basis Pretax unrealized gains Marketable securities Common stocks $ 214,112,000 $ 53,889,000 $ 160,223,000 $ 194,581,000 $ 53,889,000 $ 140,692,000 |
Note 7 - Income Taxes
Note 7 - Income Taxes | 3 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 7 For the three December 31, 2019, $5,280,000 $19,490,000. 19% 2020 three December 31, 2019. $19,531,000 three December 31, 2019. three December 31, 2019 27%, three December 31, 2018, $8,317,000 $29,850,000. 2019 three December 31, 2018. The Company’s effective tax rate was 27% three December 31, 2019 28% The Company files consolidated federal income tax returns in the United States and with various state jurisdictions and is no 2016 2015 |
Note 8 - Debts and Commitments
Note 8 - Debts and Commitments | 3 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | Note 8 During fiscal 2013, $29.5 two 50 December 31, 2019 2.25%. not In 2015, 30,700 1998 3.6 $1.24 $2.26 4.66% $17,600 2030. $1.8 December 31, 2019. 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. |
Note 9 - Contingencies
Note 9 - Contingencies | 3 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 9 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 10 - Operating Segments
Note 10 - Operating Segments | 3 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 10 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 Three months ended December 31, 2019 Revenues Advertising $ 2,126,000 $ --- $ --- $ 2,126,000 Circulation 1,312,000 --- --- 1,312,000 Advertising service fees and other 694,000 --- --- 694,000 Licensing and maintenance fees --- 5,210,000 --- 5,210,000 Consulting fees --- 689,000 --- 689,000 Other public service fees --- 1,646,000 --- 1,646,000 Operating expenses 3,998,000 9,197,000 --- 13,195,000 Income (loss) from operations 134,000 (1,652,000 ) --- (1,518,000 ) Dividends and interest income --- --- 1,680,000 1,680,000 Other income --- --- 3,000 3,000 Net unrealized gains on investments --- --- 19,531,000 19,531,000 Interest expenses on note payable collateralized by real estate (22,000 ) --- --- (22,000 ) Interest expenses on margin loans --- --- (184,000 ) (184,000 ) Pretax income (loss) 112,000 (1,652,000 ) 21,030,000 19,490,000 Income tax (expense) benefit (30,000 ) 510,000 (5,760,000 ) (5,280,000 ) Net income (loss) 82,000 (1,142,000 ) 15,270,000 14,210,000 Total assets 17,541,000 20,993,000 216,325,000 254,859,000 Capital expenditures 35,000 62,000 --- 97,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Three months ended December 31, 2018 Revenues Advertising $ 2,192,000 $ --- $ --- $ 2,192,000 Circulation 1,338,000 --- --- 1,338,000 Advertising service fees and other 669,000 --- --- 669,000 Licensing and maintenance fees --- 4,790,000 --- 4,790,000 Consulting fees --- 541,000 --- 541,000 Other public service fees --- 898,000 --- 898,000 Operating expenses 4,208,000 8,741,000 --- 12,949,000 Loss from operations (9,000 ) (2,512,000 ) --- (2,521,000 ) Dividends and interest income --- --- 1,530,000 1,530,000 Other income --- --- 10,000 10,000 Net unrealized losses on investments --- --- (28,640,000 ) (28,640,000 ) Interest expenses on note payable collateralized by real estate (23,000 ) --- --- (23,000 ) Interest expenses on margin loans --- --- (206,000 ) (206,000 ) Pretax (loss) income (32,000 ) (2,512,000 ) (27,306,000 ) (29,850,000 ) Income tax benefit (expense) 80,000 585,000 7,652,000 8,317,000 Net income (loss) 48,000 (1,927,000 ) (19,654,000 ) (21,533,000 ) Total assets 18,702,000 30,571,000 185,843,000 235,116,000 Capital expenditures 50,000 34,000 --- 84,000 During the three December 31, 2019, $4,132,000 $2,820,000 $1,312,000 $7,545,000 $2,454,000 $5,091,000 During the three December 31, 2018, $4,199,000 $2,861,000 $1,338,000 $6,229,000 $1,935,000 $4,294,000 Approximately 65% three December 31, 2019 60% 1% The following table sets forth certain deferred obligations from October 1, 2019 December 31, 2019: Beginning Balance Oct. 1, 2019 Addition Recognized Ending Balance December 31, 2019 Deferred subscriptions $ 3,195,000 $ 1,009,000 $ (1,312,000 ) $ 2,892,000 Deferred installation contracts 1,932,000 888,000 (808,000 ) 2,012,000 Deferred maintenance agreements and others 16,057,000 4,016,000 (5,091,000 ) 14,982,000 |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 3 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 11 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 Marke_2
Note 6 - Investments in Marketable Securities (Tables) | 3 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | Investments in Marketable Securities December 31, 2019 September 30, 2019 Aggregate fair value Adjusted cost basis Pretax net unrealized gains Aggregate fair value Amortized/ Adjusted cost basis Pretax unrealized gains Marketable securities Common stocks $ 214,112,000 $ 53,889,000 $ 160,223,000 $ 194,581,000 $ 53,889,000 $ 140,692,000 |
Note 10 - Operating Segments (T
Note 10 - Operating Segments (Tables) | 3 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Three months ended December 31, 2019 Revenues Advertising $ 2,126,000 $ --- $ --- $ 2,126,000 Circulation 1,312,000 --- --- 1,312,000 Advertising service fees and other 694,000 --- --- 694,000 Licensing and maintenance fees --- 5,210,000 --- 5,210,000 Consulting fees --- 689,000 --- 689,000 Other public service fees --- 1,646,000 --- 1,646,000 Operating expenses 3,998,000 9,197,000 --- 13,195,000 Income (loss) from operations 134,000 (1,652,000 ) --- (1,518,000 ) Dividends and interest income --- --- 1,680,000 1,680,000 Other income --- --- 3,000 3,000 Net unrealized gains on investments --- --- 19,531,000 19,531,000 Interest expenses on note payable collateralized by real estate (22,000 ) --- --- (22,000 ) Interest expenses on margin loans --- --- (184,000 ) (184,000 ) Pretax income (loss) 112,000 (1,652,000 ) 21,030,000 19,490,000 Income tax (expense) benefit (30,000 ) 510,000 (5,760,000 ) (5,280,000 ) Net income (loss) 82,000 (1,142,000 ) 15,270,000 14,210,000 Total assets 17,541,000 20,993,000 216,325,000 254,859,000 Capital expenditures 35,000 62,000 --- 97,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Three months ended December 31, 2018 Revenues Advertising $ 2,192,000 $ --- $ --- $ 2,192,000 Circulation 1,338,000 --- --- 1,338,000 Advertising service fees and other 669,000 --- --- 669,000 Licensing and maintenance fees --- 4,790,000 --- 4,790,000 Consulting fees --- 541,000 --- 541,000 Other public service fees --- 898,000 --- 898,000 Operating expenses 4,208,000 8,741,000 --- 12,949,000 Loss from operations (9,000 ) (2,512,000 ) --- (2,521,000 ) Dividends and interest income --- --- 1,530,000 1,530,000 Other income --- --- 10,000 10,000 Net unrealized losses on investments --- --- (28,640,000 ) (28,640,000 ) Interest expenses on note payable collateralized by real estate (23,000 ) --- --- (23,000 ) Interest expenses on margin loans --- --- (206,000 ) (206,000 ) Pretax (loss) income (32,000 ) (2,512,000 ) (27,306,000 ) (29,850,000 ) Income tax benefit (expense) 80,000 585,000 7,652,000 8,317,000 Net income (loss) 48,000 (1,927,000 ) (19,654,000 ) (21,533,000 ) Total assets 18,702,000 30,571,000 185,843,000 235,116,000 Capital expenditures 50,000 34,000 --- 84,000 |
Contract with Customer, Asset and Liability [Table Text Block] | Beginning Balance Oct. 1, 2019 Addition Recognized Ending Balance December 31, 2019 Deferred subscriptions $ 3,195,000 $ 1,009,000 $ (1,312,000 ) $ 2,892,000 Deferred installation contracts 1,932,000 888,000 (808,000 ) 2,012,000 Deferred maintenance agreements and others 16,057,000 4,016,000 (5,091,000 ) 14,982,000 |
Note 3 - Accounting Standards_2
Note 3 - Accounting Standards Adopted in Fiscal 2020 (Details Textual) - USD ($) | Dec. 31, 2019 | Sep. 30, 2019 |
Operating Lease, Right-of-Use Asset | $ 390,000 | |
Office Lease Obligations Beyond One Year | 20,000 | |
Accounting Standards Update 2016-02 [Member] | ||
Operating Lease, Right-of-Use Asset | 390,000 | |
Operating Lease, Liability, Total | $ 390,000 |
Note 6 - Investments in Marke_3
Note 6 - Investments in Marketable Securities (Details Textual) - USD ($) | 3 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2019 | |
Marketable Securities, Accumulated Unrealized Gain (Loss) | $ 160,223,000 | $ 140,692,000 | |
Marketable Securities, Unrealized Gain (Loss), Total | $ 19,531,000 | $ (28,640,000) |
Note 6 - Investments in Marke_4
Note 6 - Investments in Marketable Securities - Summary of Investments (Details) - Common Stock [Member] - USD ($) | Dec. 31, 2019 | Sep. 30, 2019 |
Aggregate fair value | $ 214,112,000 | $ 194,581,000 |
Amortized/adjusted cost basis | 53,889,000 | 53,889,000 |
Pretax net unrealized gains | $ 160,223,000 | $ 140,692,000 |
Note 7 - Income Taxes (Details
Note 7 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2020 | |
Income Tax Expense (Benefit), Total | $ 5,280,000 | $ (8,317,000) | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total | $ 19,490,000 | $ (29,850,000) | |
Effective Income Tax Rate Reconciliation, Percent, Total | 27.00% | 28.00% | |
Marketable Securities, Unrealized Gain (Loss), Total | $ 19,531,000 | $ (28,640,000) | |
Domestic Tax Authority [Member] | |||
Open Tax Year | 2016 2017 2018 | ||
State and Local Jurisdiction [Member] | |||
Open Tax Year | 2015 2016 2017 2018 | ||
Forecast [Member] | |||
Effective Income Tax Rate Reconciliation, Percent, Total | 19.00% |
Note 8 - Debts and Commitments
Note 8 - Debts and Commitments (Details Textual) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |
Nov. 30, 2015USD ($)ft²a | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Sep. 30, 2013USD ($) | |
Payments to Acquire Property, Plant, and Equipment, Total | $ 97,000 | $ 84,000 | ||
Loans Payable to Bank, Total | $ 1,800,000 | |||
UTAH | Building [Member] | ||||
Area of Real Estate Property | ft² | 30,700 | |||
UTAH | Land [Member] | ||||
Area of Land | a | 3.6 | |||
UTAH | 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 | 2.25% | |||
Real Estate Bank Loan Secured by Logan Office [Member] | ||||
Loans Payable to Bank, Total | $ 2,260,000 | |||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 4.66% | |||
Debt Instrument, Periodic Payment, Total | $ 17,600 |
Note 10 - Operating Segments (D
Note 10 - Operating Segments (Details Textual) - USD ($) | 3 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 11,677,000 | $ 10,428,000 |
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Non-US [Member] | ||
Concentration Risk, Percentage | 1.00% | |
Traditional Business [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 4,132,000 | 4,199,000 |
Traditional Business [Member] | Transferred at Point in Time [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 2,820,000 | 2,861,000 |
Traditional Business [Member] | Transferred over Time [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 1,312,000 | 1,338,000 |
Journal Technologies [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 7,545,000 | $ 6,229,000 |
Journal Technologies [Member] | Revenue Benchmark [Member] | Product Concentration Risk [Member] | ||
Concentration Risk, Percentage | 65.00% | 60.00% |
Journal Technologies [Member] | Transferred at Point in Time [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 2,454,000 | $ 1,935,000 |
Journal Technologies [Member] | Transferred over Time [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 5,091,000 | $ 4,294,000 |
Note 10 - Operating Segments -
Note 10 - Operating Segments - Summarized Financial Information for Reportable Segments (Details) - USD ($) | 3 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2019 | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 11,677,000 | $ 10,428,000 | ||
Operating expenses | 13,195,000 | [1] | 12,949,000 | |
Income (loss) from operations | (1,518,000) | (2,521,000) | ||
Dividends and interest income | 1,680,000 | 1,530,000 | ||
Other income | 3,000 | 10,000 | ||
Net unrealized gains on investments | 19,531,000 | (28,640,000) | ||
Pretax income (loss) | 19,490,000 | (29,850,000) | ||
Income tax (expense) benefit | (5,280,000) | 8,317,000 | ||
Net income (loss) | 14,210,000 | (21,533,000) | ||
Total assets | 254,859,000 | 235,116,000 | $ 237,376,000 | |
Capital expenditures | 97,000 | 84,000 | ||
Real Estate Bank Loan Secured by Logan Office [Member] | ||||
Interest expense on debt | (22,000) | (23,000) | ||
Margin Account [Member] | ||||
Interest expense on debt | (184,000) | (206,000) | ||
Advertising [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 2,126,000 | 2,192,000 | ||
Subscription and Circulation [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,312,000 | 1,338,000 | ||
Advertising Service Fees and Other [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 694,000 | 669,000 | ||
License and Maintenance [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 5,210,000 | 4,790,000 | ||
Consulting Fees [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 689,000 | 541,000 | ||
Service, Other [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,646,000 | 898,000 | ||
Traditional Business [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 4,132,000 | 4,199,000 | ||
Journal Technologies [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 7,545,000 | 6,229,000 | ||
Operating Segments [Member] | Traditional Business [Member] | ||||
Operating expenses | 3,998,000 | 4,208,000 | ||
Income (loss) from operations | 134,000 | (9,000) | ||
Dividends and interest income | ||||
Other income | ||||
Net unrealized gains on investments | ||||
Pretax income (loss) | 112,000 | (32,000) | ||
Income tax (expense) benefit | (30,000) | 80,000 | ||
Net income (loss) | 82,000 | 48,000 | ||
Total assets | 17,541,000 | 18,702,000 | ||
Capital expenditures | 35,000 | 50,000 | ||
Operating Segments [Member] | Traditional Business [Member] | Real Estate Bank Loan Secured by Logan Office [Member] | ||||
Interest expense on debt | (22,000) | (23,000) | ||
Operating Segments [Member] | Traditional Business [Member] | Margin Account [Member] | ||||
Interest expense on debt | ||||
Operating Segments [Member] | Traditional Business [Member] | Advertising [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 2,126,000 | 2,192,000 | ||
Operating Segments [Member] | Traditional Business [Member] | Subscription and Circulation [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,312,000 | 1,338,000 | ||
Operating Segments [Member] | Traditional Business [Member] | Advertising Service Fees and Other [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 694,000 | 669,000 | ||
Operating Segments [Member] | Traditional Business [Member] | License and Maintenance [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | ||||
Operating Segments [Member] | Traditional Business [Member] | Consulting Fees [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | ||||
Operating Segments [Member] | Traditional Business [Member] | Service, Other [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | ||||
Operating Segments [Member] | Journal Technologies [Member] | ||||
Operating expenses | 9,197,000 | [1] | 8,741,000 | |
Income (loss) from operations | (1,652,000) | (2,512,000) | ||
Dividends and interest income | ||||
Other income | ||||
Net unrealized gains on investments | ||||
Pretax income (loss) | (1,652,000) | (2,512,000) | ||
Income tax (expense) benefit | 510,000 | 585,000 | ||
Net income (loss) | (1,142,000) | (1,927,000) | ||
Total assets | 20,993,000 | 30,571,000 | ||
Capital expenditures | 62,000 | 34,000 | ||
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] | ||||
Revenue from Contract with Customer, Including Assessed Tax | ||||
Operating Segments [Member] | Journal Technologies [Member] | Subscription and Circulation [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | ||||
Operating Segments [Member] | Journal Technologies [Member] | Advertising Service Fees and Other [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | ||||
Operating Segments [Member] | Journal Technologies [Member] | License and Maintenance [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 5,210,000 | 4,790,000 | ||
Operating Segments [Member] | Journal Technologies [Member] | Consulting Fees [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 689,000 | 541,000 | ||
Operating Segments [Member] | Journal Technologies [Member] | Service, Other [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,646,000 | 898,000 | ||
Corporate, Non-Segment [Member] | ||||
Operating expenses | ||||
Income (loss) from operations | ||||
Dividends and interest income | 1,680,000 | 1,530,000 | ||
Other income | 3,000 | 10,000 | ||
Net unrealized gains on investments | 19,531,000 | (28,640,000) | ||
Pretax income (loss) | 21,030,000 | (27,306,000) | ||
Income tax (expense) benefit | (5,760,000) | 7,652,000 | ||
Net income (loss) | 15,270,000 | (19,654,000) | ||
Total assets | 216,325,000 | 185,843,000 | ||
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 | (184,000) | (206,000) | ||
Corporate, Non-Segment [Member] | Advertising [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | ||||
Corporate, Non-Segment [Member] | Subscription and Circulation [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | ||||
Corporate, Non-Segment [Member] | Advertising Service Fees and Other [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | ||||
Corporate, Non-Segment [Member] | License and Maintenance [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | ||||
Corporate, Non-Segment [Member] | Consulting Fees [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | ||||
Corporate, Non-Segment [Member] | Service, Other [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | ||||
[1] | included goodwill impairment of $13,400,000 |
Note 10 - Operating Segments _2
Note 10 - Operating Segments - Deferred Revenue Obligations (Details) | 3 Months Ended |
Dec. 31, 2019USD ($) | |
Subscription and Circulation [Member] | |
Deferred revenue | $ 3,195,000 |
Deferred Revenue, Additions | 1,009,000 |
Deferred Revenue, Revenue Recognized | (1,312,000) |
Deferred revenue | 2,892,000 |
Installation Contracts [Member] | |
Deferred revenue | 1,932,000 |
Deferred Revenue, Additions | 888,000 |
Deferred Revenue, Revenue Recognized | (808,000) |
Deferred revenue | 2,012,000 |
License and Maintenance [Member] | |
Deferred revenue | 16,057,000 |
Deferred Revenue, Additions | 4,016,000 |
Deferred Revenue, Revenue Recognized | (5,091,000) |
Deferred revenue | $ 14,982,000 |