Daily Journal (DJCO) 10-Q 18 Feb 25 2025 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Dec. 31, 2024	Jan. 31, 2025
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
Entity File Number	0-14665
Entity Registrant Name	DAILY JOURNAL CORPORATION
Entity Incorporation, State or Country Code	SC
Entity Tax Identification Number	95-4133299
Entity Address, Address Line One	915 East First Street
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90012-4050
City Area Code	213
Local Phone Number	229-5300
Title of 12(b) Security	Common Stock
Trading Symbol	DJCO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		1,377,426
Entity Central Index Key	0000783412
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
Current assets
Cash and cash equivalents	$ 15,047	$ 12,986
Restricted cash	2,210	2,191
Non-qualified deferred compensation plan – trust account asset value	832	748
Marketable securities at fair value	372,104	358,691
Accounts receivable, less allowance for doubtful account	12,625	19,219
Inventories	38	15
Prepaid expenses and other current assets	470	612
Income tax receivable	69	33
Total current assets	403,395	394,495
Property, plant and equipment, at cost
Land, buildings and improvements	16,418	16,418
Furniture, office equipment and computer software	1,723	1,723
Machinery and equipment	1,521	1,521
Property, Plant and Equipment, Gross	19,662	19,662
Less accumulated depreciation	(10,587)	(10,520)
Total property, plant and equipment, net	9,075	9,142
Operating lease right-of-use assets	101	126
Total assets	412,571	403,763
Current liabilities
Accounts payable	6,487	6,049
Accrued liabilities	5,766	8,517
Note payable collateralized by real estate	165	164
Total current liabilities	32,779	38,443
Long term liabilities
Investment margin account borrowings	27,500	27,500
Note payable collateralized by real estate	914	956
Deferred maintenance agreements	492	883
Accrued liabilities	3,572	3,772
Accrued non-qualified deferred compensation	934	784
Deferred income taxes	56,677	52,641
Total long-term liabilities	90,089	86,536
Commitments and Contingencies
Shareholders' equity
Common stock, $.01 par value, 5,000,000 shares authorized; 1,805,053 shares issued, including 428,027 treasury shares, at June 30, 2024 and September 30, 2023	14	14
Additional paid-in capital	1,981	1,957
Retained earnings	287,708	276,813
Total shareholders' equity	289,703	278,784
Total liabilities and shareholders’ equity	412,571	403,763
Subscription and Circulation [Member]
Current liabilities
Deferred subscriptions	2,354	2,558
Professional Fees [Member]
Current liabilities
Deferred subscriptions	2,031	2,031
License and Maintenance [Member]
Current liabilities
Deferred subscriptions	$ 15,976	$ 19,124

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2024	Sep. 30, 2023
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
Treasury Stock, Common, Shares (in shares)	427,627	427,627
Treasury Stock, Common, Shares (in shares)	427,627	427,627

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Revenues
Revenues	$ 17,704,000	$ 15,993,000
Costs and expenses
Salaries and employee benefits	12,036,000	11,347,000
Stock-based compensation	24,000	0
Decrease to the long-term supplemental compensation accrual	(185,000)	(420,000)
Agency commissions	299,000	243,000
Outside services	1,810,000	1,667,000
Postage and delivery expenses	199,000	176,000
Newsprint and printing expenses	164,000	205,000
Depreciation and amortization	67,000	66,000
Equipment maintenance and software	602,000	376,000
Credit card merchant discount fees	565,000	552,000
Rent expenses	66,000	70,000
Accounting and legal fees	320,000	256,000
Other general and administrative expenses	995,000	832,000
Total costs and expenses	16,962,000	15,370,000
Income from operations	742,000	623,000
us-gaap_NonoperatingIncomeExpenseAbstract
Dividends and interest income	1,184,000	1,569,000
Net unrealized gains (losses) on marketable securities	13,413,000	14,690,000
Net unrealized gains on non-qualified compensation plan	(50,000)	0
Income before income taxes	14,895,000	15,740,000
Income tax provisions	(4,000,000)	(3,125,000)
Net income	$ 10,895,000	$ 12,615,000
Weighted average number of common shares outstanding - basic and diluted (in shares)	1,376,852	1,377,026
Basic and diluted net income per share (in dollars per share)	$ 7.91	$ 9.16
Comprehensive income	$ 10,895	$ 12,615,000
Margin Account [Member]
us-gaap_NonoperatingIncomeExpenseAbstract
Interest expense on margin loans and others	(385,000)	(1,131,000)
Real Estate Bank Loan Secured by Logan Office [Member]
us-gaap_NonoperatingIncomeExpenseAbstract
Interest expense on margin loans and others	(9,000)	(11,000)
Advertising [Member]
Revenues
Revenues	2,279,000	2,087,000
Subscription and Circulation [Member]
Revenues
Revenues	1,080,000	1,095,000
Advertising Service Fees and Other [Member]
Revenues
Revenues	732,000	705,000
License and Maintenance [Member]
Revenues
Revenues	7,525,000	6,557,000
Consulting Fees [Member]
Revenues
Revenues	2,599,000	3,302,000
Service, Other [Member]
Revenues
Revenues	$ 3,489,000	$ 2,247,000

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Treasury Stock, Common [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Sep. 30, 2023	1,805,053	(428,027)
Balance at Sep. 30, 2023	$ 18	$ (4)	$ 1,755	$ 198,700	$ 200,469
Net income (loss)				12,615	12,615
Balance (in shares) at Dec. 31, 2023	1,805,053	(428,027)
Balance at Dec. 31, 2023	$ 18	$ (4)	1,755	211,315	213,084
Balance (in shares) at Sep. 30, 2024	1,805,053	(427,627)
Balance at Sep. 30, 2024	$ 18	$ (4)	1,957	276,813	278,784
Net income (loss)				10,895	10,895
Restricted stock unit cost amortization			24		24
Balance (in shares) at Dec. 31, 2024	1,805,053	(427,627)
Balance at Dec. 31, 2024	$ 18	$ (4)	$ 1,981	$ 287,708	$ 289,703

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Net income	$ 10,895,000	$ 12,615,000
Adjustments to reconcile net income to net cash (used in) provided from operations
Stock-based compensation	24,000	0
Depreciation and amortization	67,000	66,000
Net unrealized gains on marketable securities	(13,413,000)	(14,690,000)
Deferred income taxes	4,036,000	2,950,000
Accounts receivable, net	6,594,000	5,945,000
Inventories	(23,000)	14,000
Prepaid expenses and other assets	167,000	(18,000)
Income tax receivable	(36,000)	(21,000)
Accounts payable	438,000	(624,000)
Accrued liabilities, including non-qualified deferred compensation	(2,801,000)	(4,003,000)
Income tax payable	0	(1,069,000)
Net cash provided by (used in) operating activities	2,205,000	(1,162,000)
us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract
Purchases of property, plant and equipment, net	0	(5,000)
Net cash provided from (used in) investing activities	0	(5,000)
us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract
Payment to margin loan borrowing	0	(5,000,000)
Payment of real estate loan principal	(41,000)	(39,000)
Net cash (used in) provided from financing activities	(41,000)	(5,039,000)
(Decrease) increase in cash and restricted cash and cash equivalents	2,164,000	(6,206,000)
us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectAbstract
(Decrease) increase in cash and restricted cash and cash equivalents	12,986,000	20,844,000
Restricted cash	2,191,000	2,100,000
Non-qualified deferred compensation plan – trust account asset value	748,000	194,000
End of period	18,089,000	16,932,000
Interest paid during period	424,000	1,232,000
Net income taxes paid	0	1,265,000
Subscription and Circulation [Member]
Adjustments to reconcile net income to net cash (used in) provided from operations
Deferred subscriptions	(204,000)	(55,000)
Deferred consulting fees	(204,000)	(55,000)
Professional Fees [Member]
Adjustments to reconcile net income to net cash (used in) provided from operations
Deferred subscriptions	0	(84,000)
Deferred consulting fees	0	(84,000)
License and Maintenance [Member]
Adjustments to reconcile net income to net cash (used in) provided from operations
Deferred subscriptions	(3,539,000)	(2,188,000)
Deferred consulting fees	$ (3,539,000)	$ (2,188,000)

Note 1 - The Corporation and Op

Note 1 - The Corporation and Operations	3 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1 - The Corporation and Operations Daily Journal Corporation (“Daily Journal” or “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. 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 e-filing and a website to pay traffic citations and fees online. These products are licensed or subscribed to in approximately 32 states and internationally. Essentially all of the Company’s U.S. operations are based in California, Arizona and Utah. The Company also has a presence in Australia where Journal Technologies is working on three software installation projects and in British Columbia, Canada, where the Company established a wholly-owned subsidiary, Journal Technologies (Canada) Inc., since August 2022.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 2 – Summary of Significant Accounting Policies In the opinion of the Company, the accompanying interim unaudited consolidated financial statements present fairly the financial position of the Company as of December 31, 2024 and September 30, 2024, its results of operations and consolidated statements of shareholders’ equity for the three-month periods ended December 31, 2024 and 2023, and cash flows for the three-month periods ended December 31, 2024 and 2023. The results of operations for the three months ended December 31, 2024 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 and in accordance with the generally accepted accounting principles in the United States. 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 financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2024. Certain reclassifications of previously reported amounts have been made to conform to the current year’s presentation. Financial monetary figures presented in the tables are reported in thousands except for the number for shares and the per share price. The change in allowance for doubtful accounts is as follows: Allowance for Doubtful Accounts (000) Description Balance at Beginning of Year Additions charged to Costs and Expenses Accounts charged off less Recoveries Balance at End of Year Fiscal 2025 year-to-date through December 31 Allowance for doubtful accounts $ 250 $ - $ - $ 250 Fiscal 2024 year-to-date through December 31 Allowance for doubtful accounts $ 250 $ 4 $ (4 ) $ 250 Advertising: Stock-based Compensation For restricted stock units, we use the closed market price on the date of grant as their fair market value. We have not historically paid any cash dividends on our common stock and as a result do not reduce the grant-date fair value per share by the present value of dividends expected to be paid during the requisite service period for restricted stock units. We amortize the fair value of all awards on a straight-line basis over the requisite service periods, which are generally the vesting periods. We will recognize the effect of awards for which the requisite service period is not rendered when the award is forfeited. That is, we recognize the effect of forfeitures in compensation cost when they occur. Previously recognized compensation cost for an award is reversed in the period the award is forfeited. The following table summarized stock unit activity during the periods presented: Number of Shares Weighted Average Grant Date Fair Value per Share Unvested at December 31, 2023 — — Granted 800 $ 463.64 Vested 400 463.64 Forfeited — — Unvested at December 31, 2024 400 $ 463.64 As of December 31, 2024, we had total unrecognized compensation cost of approximately $145,000 related to unvested restricted stock units which is expected to be amortized over a weighted average amortization period of approximately 1.56 years. The following table summarizes stock-based compensation expense related to share-based awards which is recorded in the consolidated statements of comprehensive income: Fiscal 2025 as of December 31, 2024 Stock-based compensation $ 24 Total stock-based compensation expense 24 Total tax benefit (6 ) Net decrease in net income $ 18

Note 3 - New Accounting Pronoun

Note 3 - New Accounting Pronouncement	3 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
New Accounting Pronouncement [Text Block]	Note 3 - New Accounting Pronouncement During November 2023, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.

Note 4 - Right-of-use (ROU) Ass

Note 4 - Right-of-use (ROU) Asset and Liabilities	3 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	Note 4 – Right-of-Use (ROU) Asset and Liabilities ROU: Accrued Liabilities:

Note 5 - Revenue Recognition

Note 5 - Revenue Recognition	3 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	Note 5 – Revenue Recognition The Company recognizes revenues in accordance with the provisions of ASU No. 2014-09, Revenue from Contracts with Customers (ASC Topic 606) For 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 service fees and other revenues, which represent primarily agency commissions received from outside newspapers in which the advertising is placed, are recognized when advertisements are published and are recorded on a net basis. Journal Technologies contracts may include several products and services, which are generally distinct and include separate transaction pricing and performance obligations. Most are one-transaction contracts. These revenue contracts include (i) implementation consulting fees to configure the system to go-live, (ii) subscription software license, maintenance (including updates and upgrades) and support fees, and (iii) third-party hosting fees when used. For contracts containing multiple performance obligations, the Company allocates the transaction price on the basis of the relative standalone selling price of each distinct good or service, and utilizes the residual approach to estimate the standalone selling price of implementation consulting fees, whereby the standalone selling price is estimated by reference to the total transaction price less the sum of the observable standalone selling prices of its subscription software licenses, maintenance and support fees, and third-party hosting fees. These contracts include assurance-type warranty provisions for limited periods and do not include financing terms. For some contracts, the Company acts as a principal with respect to certain services, such as data conversion, interfaces and hosting that are provided by third parties, and recognizes such revenues and related costs on a gross basis. The Company considers several factors to determine if it controls the good or service and therefore is the principal. These factors include (1) if we have primary responsibility for fulfilling the promise; and (2) if we have discretion in establishing price for the specified good or service. For legacy contracts with perpetual license arrangements, licenses and consulting services are recognized at point of delivery, and maintenance revenues are recognized ratably after the go-live. The Traditional Business and Journal Technologies issue invoices that have payment terms which require payment within 30 days. Contracts do not have a significant financing component and do not have variable consideration. Amounts that have been invoiced are recorded in accounts receivable and in deferred revenue or revenue, depending on whether the required performance services have been completed. Proceeds from subscription-type revenues, including circulation revenue, license, maintenance and support services, and hosting services, are deferred at the time of sale and are recognized on a pro-rata basis over the terms of the subscriptions or service period, and unearned proceeds are recognized within deferred subscriptions and deferred maintenance agreements and others in the consolidated balance sheets. Proceeds from consulting fees are recognized at point of delivery upon service completion, and unearned consulting fee proceeds are recorded under deferred consulting fees on the consolidated balance sheets. Other public service fees are earned and recognized as revenues when the Company processes credit card payments on behalf of the courts via its websites through which the public can e-file cases and pay traffic citations and other fees. ASC 606 also requires the capitalization of certain costs of obtaining contracts, specifically sales commissions which are to be amortized over the expected term of the contracts. For its software contracts, the Company incurs an immaterial amount of sales commission costs which have no significant impact on the Company’s financial condition and results of operations. In addition, the Company’s implementation and fulfillment costs do not meet all criteria required for capitalization. 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 to include the transaction price allocated to unsatisfied performance obligations. These unallocated prices primarily relate to the eFile-it™ and ePay-it™ transactions for which service fees are collected and recognized when the Company processes credit card payments on behalf of the courts via its websites through which the public e-file cases or pay traffic citations. Furthermore, there are no fulfillment costs that are capitalized for the software contracts. Approximately 77% of the Company’s revenues for the three months ended December 31, 2024 and 76% for the three months ended December 31, 2023 were derived from sales of software licenses, annual software licenses, maintenance and support agreements and consulting services that typically include implementation and training. The change in total deferred revenues, including the long-term portion, is as follows: Changes in total deferred revenues (000) Description Balance at Beginning of Year Addition to the Deferral Recognition from Deferral Balance at End of Year As of December 31, 2024 Total deferred revenues $ 24,596 $ 7,461 $ (11,204 ) $ 20,853 As of December 31, 2023 Total deferred revenues $ 26,539 $ 8,627 $ (10,954 ) $ 24,212

Note 6 - Treasury Stock and Net

Note 6 - Treasury Stock and Net Income Per Common Share	3 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Equity [Text Block]	Note 6 - Treasury Stock and Net Income per Common Share In June 2022, the Company received from Charles T. Munger 3,720 shares of Daily Journal common stock as his gracious personal gift (worth approximately $1 million on the date of the gift) for the purpose of establishing a new senior management equity incentive plan. These donated shares were considered treasury stock, and the Company accounted for them using the par method which had an immaterial effect on the amount on Treasury Stock and Additional Paid-in Capital. The number of outstanding shares of the Company was reduced by these 3,720 shares to reflect the actual number of outstanding shares of 1,377,026 at September 30, 2022. In July 2024, the Board approved the grant of 400 shares to the Company’s Chief Executive Officer, and these shares were transferred to him in December 2024. The net income per common share is based on the weighted average number of shares outstanding during each year. The shares used in the calculation were 1,376,852 and $1,377,026 for the three months ended December 31, 2024 and 2023, respectively.

Note 7 - Basic and Diluted Net

Note 7 - Basic and Diluted Net Income Per Share	3 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 7 - Basic and Diluted Net Income Per Share The Company did not have any common stock equivalents at December 31, 2023. At December 31, 2024, there were common stock, and restricted stock units which were about equivalent to common stocks and therefore basic and diluted net income per share were the same.

Note 8 - Investments in Marketa

Note 8 - Investments in Marketable Securities	3 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	Note 8 - Investments in Marketable Securities All investments are classified as “Current assets” because they are available for sale at any time. These marketable securities 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 During the three months ended December 31, 2024, the Company recorded and included in its net income the net unrealized gains on marketable securities of $13,413,000, as compared with $14,690,000, in the prior fiscal year period. There were no purchases or sales of marketable securities during both the periods ended December 31, 2024 and 2023. Our long-serving director and former chairman, Charles T. Munger, had managed the Company’s marketable securities portfolio since the original purchases were made with the Company’s excess cash in 2009. Mr. Munger passed away in November 2023, and the Company remains committed to using the portfolio as a source of strength in support of its operating businesses, just as it has for the past 16 years. The Board continues to work to ensure the prudent and effective management of these assets in the context of the current market and the needs of the businesses, including consultation with outside advisors to which the Board has access. The March 2024 sales of a portion of the portfolio (approximately 10%) to reduce the Company’s margin loan, are aspects of that work. Investments in marketable securities as of December 31, 2024 and September 30, 2024 are summarized below. Investment in Financial Instruments (000) December 31, 2024 September 30, 2024 Aggregate fair value Amortized/ Adjusted cost basis Pretax unrealized gains Aggregate fair value Amortized/ Adjusted cost basis Pretax unrealized gains Marketable securities Common stocks $ 372,104 $ 139,094 $ 233,010 $ 358,691 $ 139,094 $ 219,597

Note 9 - Income Taxes

Note 9 - Income Taxes	3 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 9 - Income Taxes For the three months ended December, 2024, the Company recorded an income tax provision of $4,000,000 on the pretax income of $14,895,000. The income tax provision consisted of tax provisions of $3,500,000 on the unrealized gains on marketable securities, $15,000 on income from foreign operations, $275,000 on income from US operations and dividend income, $10,000 for the dividends received deduction and other permanent book and tax differences, and $200,000 for the effect of a change in state apportionment on the beginning of the year’s deferred tax liability. Consequently, the overall effective tax rate for the three months ended December 31, 2024 was 26.9%, after including the taxes on the unrealized gains on marketable securities. For the three months ended December 31, 2023, the Company recorded an income tax provision of $3,125,000 on the pretax income of $15,740,000. The income tax provision consisted of tax provisions of $3,765,000 on the unrealized gains on marketable securities, $30,000 on income from foreign operations, and $270,000 on income from US operations and dividend income, partially offset by a tax benefit of $120,000 for the dividends received deduction and other permanent book and tax differences, and a tax benefit of $820,000 for the effect of a change in state apportionment on the beginning of the year’s deferred tax liability. Consequently, the overall effective tax rate for the three months ended December 31, 2023 was 19.9%, after including the taxes on the unrealized gains on marketable securities. The Company files consolidated 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 2022 with regard to federal income taxes and fiscal 2021 for state income taxes.

Note 10 - Debt and Commitments

Note 10 - Debt and Commitments	3 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Commitments Disclosure [Text Block]	Note 10 - Debt and Commitments During fiscal 2013, the Company borrowed from its investment margin account the aggregate purchase price of $29.5 million for two acquisitions, in each case pledging its marketable securities as collateral. In addition, there were subsequent borrowings of $45.5 million to purchase additional marketable securities bringing the margin loan balance up to $75 million during fiscal 2023. In March 2024, the Company sold a portion of its marketable securities for approximately $40.6 million and used these proceeds and excess cash from operations to pay down the margin loan balance to $27.5 million at December 31, 2024. 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 December 31, 2024 was approximately 5%. These investment margin account borrowings do not mature. In November 2015, the Company purchased a 30,700 square foot office building constructed in 1998 on about 3.6 acres in Logan, Utah that had been previously leased for Journal Technologies. The Company paid $1.24 million and financed the balance with a real estate bank loan of $2.26 million which had a fixed interest rate of 4.66%. This loan is secured by the Logan facility and can be paid off at any time without prepayment penalty. In October 2020, the Company executed an amendment to lower the interest rate of this loan to a fixed rate of 3.33% for the remaining 10 years. This real estate loan had a balance of approximately $1.08 million as of December 31, 2024. Each monthly installment payment is approximately $16,700. The Company owns its facilities in Los Angeles, California. The Company also leases space for its other offices under operating leases which expire at various dates through October 2025. The Company is responsible for a portion of maintenance, insurance and property tax expenses relating to the leased properties. Rental expenses, inclusive of these expenses, for the three months ended December 31, 2024 and 2023 were $66,000 and $70,000, respectively. Effective January 1, 2023, the Company began sponsoring a 401(k) retirement plan and a non-qualified deferred compensation plan for its employees. The 401(k) retirement plan is a defined contribution plan available to employees meeting minimum service requirements. Eligible employees can contribute up to 100% of their current compensation to the plan subject to certain statutory limitations. The Company matches 50% of the 401(k) contribution up to 4% of total compensation. Contributions to the retirement plan were $175,000 and $176,000 for the three months ended December 31, 2024 and 2023, respectively. As of December 31, 2024, there were deferred compensation liabilities of approximately $934,000 of which $832,000 were held under a trust account for the non-qualified deferred compensation plan. There were deferred compensation liabilities of approximately $387,000 of which $379,000 were held under a trust account for the non-qualified deferred compensation plan in the prior fiscal year period.

Note 11 - Contingencies

Note 11 - Contingencies	3 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 11 - Contingencies From time to time, the Company is subject to contingencies, including litigation, arising in the normal course of its business. While it is not possible to predict the results of such contingencies, management does not believe the ultimate outcome of these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows.

Note 12 - Operating Segments

Note 12 - Operating Segments	3 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 12 - Operating Segments The Company’s Traditional Business is one reportable segment and the other is Journal Technologies which includes Journal Technologies, Inc. and Journal Technologies (Canada) Inc. All inter-segment transactions were eliminated. Corporate is presented below as a non-operating segment to reconcile segment results to the Company’s consolidated financial statement line-item totals. Additional detail about each of the reportable segments and its income and expenses is set forth below: Overall Financial Results For the three months ended December 31 Reportable Segments Traditional Business Journal Technologies Corporate Total 2024 2023 2024 2023 2024 2023 2024 2023 Revenues Advertising $ 2,279 $ 2,087 $ — $ — $ — $ — $ 2,279 $ 2,087 Circulation 1,080 1,095 — — — — 1,080 1,095 Advertising service fees and other 732 705 — — — — 732 705 Licensing and maintenance fees — — 7,525 6,557 — — 7,525 6,557 Consulting fees — — 2,599 3,302 — — 2,599 3,302 Other public service fees — — 3,489 2,247 — — 3,489 2,247 Total operating revenues 4,091 3,887 13,613 12,106 — — 17,704 15,993 Operating expenses Salaries and employee benefits 2,490 2,549 9,546 8,798 — — 12,036 11,347 Stock-based compensation 4 — 20 — — — 24 — Decrease to the long-term supplemental compensation accrual (185 ) (420 ) — — — — (185 ) (420 ) Others 1,496 1,471 3,591 2,972 — — 5,087 4,443 Total operating expenses 3,805 3,600 13,157 11,770 — — 16,962 15,370 Income from operations 286 287 456 336 — — 742 623 Dividends and interest income — — — — 1,184 1,569 1,184 1,569 Interest expense on note payable collateralized by real estate and other — — — — (9 ) (11 ) (9 ) (11 ) Interest expense on margin loans — — — — (385 ) (1,131 ) (385 ) (1,131 ) Net unrealized loss on non-qualified compensation plan — — — — (50 ) — (50 ) — Net unrealized gains on marketable securities — — — — 13,413 14,690 13,413 14,690 Pretax income 286 287 456 336 14,153 15,117 14,895 15,740 Income tax expenses (75 ) (55 ) (175 ) (250 ) (3,750 ) (2,820 ) (4,000 ) (3,125 ) Net income $ 211 $ 232 $ 281 $ 86 $ 10,403 $ 12,297 $ 10,895 $ 12,615 Total assets $ 13,851 $ 15,483 $ 25,784 $ 24,062 $ 372,936 $ 317,818 $ 412,571 $ 357,363 Capital expenditures $ — $ 5 $ — $ — $ — $ — $ — $ 5 During the three months ended December 31, 2024, the Traditional Business had total operating revenues of $4,091,000 with $3,011,000 recognized after services were provided and $1,080,000 recognized ratably over the publication subscription terms, as compared with total operating revenues of $3,887,000 with $2,792,000 recognized after services were provided and $1,095,000 recognized ratably over the publication subscription terms in the prior fiscal year period. Total operating revenues for the Company’s software business were $13,613,000 with $6,088,000 recognized upon completion of services and $7,525,000 recognized ratably over the subscription periods, as compared with total operating revenues of $12,106,000 with $5,570,000 recognized upon completion of services and $6,536,000 recognized ratably over the subscription periods in the prior fiscal year period. Approximately 77% of the Company’s revenues during the three-month period ended December 31, 2024 were derived from Journal Technologies as compared with 76% in the prior fiscal year period. In addition, the Company’s revenues during the quarter were primarily from the United States with approximately 9% from foreign countries. Journal Technologies’ revenues are primarily from governmental agencies.

Note 13 - Subsequent Events

Note 13 - Subsequent Events	3 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	Note 13 - 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.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	The consolidated financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission and in accordance with the generally accepted accounting principles in the United States. 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 financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2024. Certain reclassifications of previously reported amounts have been made to conform to the current year’s presentation. Financial monetary figures presented in the tables are reported in thousands except for the number for shares and the per share price.
Revenue [Policy Text Block]	The change in allowance for doubtful accounts is as follows: Allowance for Doubtful Accounts (000) Description Balance at Beginning of Year Additions charged to Costs and Expenses Accounts charged off less Recoveries Balance at End of Year Fiscal 2025 year-to-date through December 31 Allowance for doubtful accounts $ 250 $ - $ - $ 250 Fiscal 2024 year-to-date through December 31 Allowance for doubtful accounts $ 250 $ 4 $ (4 ) $ 250
Advertising Cost [Policy Text Block]	Advertising:
Share-Based Payment Arrangement [Policy Text Block]	Stock-based Compensation For restricted stock units, we use the closed market price on the date of grant as their fair market value. We have not historically paid any cash dividends on our common stock and as a result do not reduce the grant-date fair value per share by the present value of dividends expected to be paid during the requisite service period for restricted stock units. We amortize the fair value of all awards on a straight-line basis over the requisite service periods, which are generally the vesting periods. We will recognize the effect of awards for which the requisite service period is not rendered when the award is forfeited. That is, we recognize the effect of forfeitures in compensation cost when they occur. Previously recognized compensation cost for an award is reversed in the period the award is forfeited. The following table summarized stock unit activity during the periods presented: Number of Shares Weighted Average Grant Date Fair Value per Share Unvested at December 31, 2023 — — Granted 800 $ 463.64 Vested 400 463.64 Forfeited — — Unvested at December 31, 2024 400 $ 463.64 As of December 31, 2024, we had total unrecognized compensation cost of approximately $145,000 related to unvested restricted stock units which is expected to be amortized over a weighted average amortization period of approximately 1.56 years. The following table summarizes stock-based compensation expense related to share-based awards which is recorded in the consolidated statements of comprehensive income: Fiscal 2025 as of December 31, 2024 Stock-based compensation $ 24 Total stock-based compensation expense 24 Total tax benefit (6 ) Net decrease in net income $ 18

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Dec. 31, 2024
Notes Tables
Valuation and Qualifying Accounts [Table Text Block]	Description Balance at Beginning of Year Additions charged to Costs and Expenses Accounts charged off less Recoveries Balance at End of Year Fiscal 2025 year-to-date through December 31 Allowance for doubtful accounts $ 250 $ - $ - $ 250 Fiscal 2024 year-to-date through December 31 Allowance for doubtful accounts $ 250 $ 4 $ (4 ) $ 250
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]	Number of Shares Weighted Average Grant Date Fair Value per Share Unvested at December 31, 2023 — — Granted 800 $ 463.64 Vested 400 463.64 Forfeited — — Unvested at December 31, 2024 400 $ 463.64
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Fiscal 2025 as of December 31, 2024 Stock-based compensation $ 24 Total stock-based compensation expense 24 Total tax benefit (6 ) Net decrease in net income $ 18

Note 5 - Revenue Recognition (T

Note 5 - Revenue Recognition (Tables)	3 Months Ended
	Dec. 31, 2024
Notes Tables
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	Description Balance at Beginning of Year Addition to the Deferral Recognition from Deferral Balance at End of Year As of December 31, 2024 Total deferred revenues $ 24,596 $ 7,461 $ (11,204 ) $ 20,853 As of December 31, 2023 Total deferred revenues $ 26,539 $ 8,627 $ (10,954 ) $ 24,212

Note 8 - Investments in Marke_2

Note 8 - Investments in Marketable Securities (Tables)	3 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]	December 31, 2024 September 30, 2024 Aggregate fair value Amortized/ Adjusted cost basis Pretax unrealized gains Aggregate fair value Amortized/ Adjusted cost basis Pretax unrealized gains Marketable securities Common stocks $ 372,104 $ 139,094 $ 233,010 $ 358,691 $ 139,094 $ 219,597

Note 12 - Operating Segments (T

Note 12 - Operating Segments (Tables)	3 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Reportable Segments Traditional Business Journal Technologies Corporate Total 2024 2023 2024 2023 2024 2023 2024 2023 Revenues Advertising $ 2,279 $ 2,087 $ — $ — $ — $ — $ 2,279 $ 2,087 Circulation 1,080 1,095 — — — — 1,080 1,095 Advertising service fees and other 732 705 — — — — 732 705 Licensing and maintenance fees — — 7,525 6,557 — — 7,525 6,557 Consulting fees — — 2,599 3,302 — — 2,599 3,302 Other public service fees — — 3,489 2,247 — — 3,489 2,247 Total operating revenues 4,091 3,887 13,613 12,106 — — 17,704 15,993 Operating expenses Salaries and employee benefits 2,490 2,549 9,546 8,798 — — 12,036 11,347 Stock-based compensation 4 — 20 — — — 24 — Decrease to the long-term supplemental compensation accrual (185 ) (420 ) — — — — (185 ) (420 ) Others 1,496 1,471 3,591 2,972 — — 5,087 4,443 Total operating expenses 3,805 3,600 13,157 11,770 — — 16,962 15,370 Income from operations 286 287 456 336 — — 742 623 Dividends and interest income — — — — 1,184 1,569 1,184 1,569 Interest expense on note payable collateralized by real estate and other — — — — (9 ) (11 ) (9 ) (11 ) Interest expense on margin loans — — — — (385 ) (1,131 ) (385 ) (1,131 ) Net unrealized loss on non-qualified compensation plan — — — — (50 ) — (50 ) — Net unrealized gains on marketable securities — — — — 13,413 14,690 13,413 14,690 Pretax income 286 287 456 336 14,153 15,117 14,895 15,740 Income tax expenses (75 ) (55 ) (175 ) (250 ) (3,750 ) (2,820 ) (4,000 ) (3,125 ) Net income $ 211 $ 232 $ 281 $ 86 $ 10,403 $ 12,297 $ 10,895 $ 12,615 Total assets $ 13,851 $ 15,483 $ 25,784 $ 24,062 $ 372,936 $ 317,818 $ 412,571 $ 357,363 Capital expenditures $ — $ 5 $ — $ — $ — $ — $ — $ 5

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Textual)	3 Months Ended
	Dec. 31, 2024 USD ($) shares
Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $	$ 145,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 6 months 21 days
Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)	3,320
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)	3,720

Note 2 - Summary of Significa_4

Note 2 - Summary of Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Beginning balance	$ 250	$ 250
Additions charged to costs and expenses	0	4
Accounts charged off less recoveries	0	(4)
Ending balance	$ 250	$ 250

Note 2 - Summary of Significa_5

Note 2 - Summary of Significant Accounting Policies - Schedule of Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member]	3 Months Ended
	Dec. 31, 2024 $ / shares shares
Unvested, units (in shares) | shares	0
Unvested, fair value (in dollars per share) | $ / shares	$ 0
Granted, units (in shares) | shares	800
Granted, fair value (in dollars per share) | $ / shares	$ 463.64
Vested, units (in shares) | shares	400
Vested, fair value (in dollars per share) | $ / shares	$ 463.64
Forfeited, units (in shares) | shares	0
Forfeited, fair value (in dollars per share) | $ / shares	$ 0
Unvested, units (in shares) | shares	400
Unvested, fair value (in dollars per share) | $ / shares	$ 463.64

Note 2 - Summary of Significa_6

Note 2 - Summary of Significant Accounting Policies - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Stock-based compensation	$ 24	$ 0
Total stock-based compensation expense	24	$ 0
Total tax benefit	(6)
Net decrease in net income	18
Share-Based Payment Arrangement [Member]
Stock-based compensation	24
Total stock-based compensation expense	$ 24

Note 4 - Right-of-use (ROU) A_2

Note 4 - Right-of-use (ROU) Asset and Liabilities (Details Textual) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Operating Lease, Liability	$ 101,000	$ 82,000
Office Lease Obligations Beyond One Year	22,000	31,000
Accrued Vacation, Current	3,330,000	3,140,000
Supplemental Compensation Accrual, Current	345,000	355,000
Accrued Salaries, Current	$ 2,091,000	$ 1,537,000

Note 5 - Revenue Recognition (D

Note 5 - Revenue Recognition (Details Textual)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Revenue Benchmark [Member] | Product Concentration Risk [Member] | License [Member]
Concentration Risk, Percentage	77%	76%

Note 5 - Revenue Recognition -

Note 5 - Revenue Recognition - Change in Deferred Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Balance at beginning of year	$ 24,596	$ 26,539
Addition to the deferral	7,461	8,627
Recognition from deferral	(11,204)	(10,954)
Balance at end of year	$ 20,853	$ 24,212

Note 6 - Treasury Stock and N_2

Note 6 - Treasury Stock and Net Income Per Common Share (Details Textual) - USD ($) $ in Millions		1 Months Ended	3 Months Ended
	Jul. 24, 2024	Jun. 30, 2022	Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2022
Receipt of Donated Treasury Stock, Shares		3,720
Value of Donated Treasury Shares		$ 1
Common Stock, Shares, Outstanding					1,377,026
Donated Shares, Granted	400
Weighted Average Number of Shares Outstanding, Basic			1,376,852	1,377,026

Note 8 - Investments in Marke_3

Note 8 - Investments in Marketable Securities (Details Textual) - USD ($)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2024
Marketable Securities, Accumulated Unrealized Gain (Loss)	$ 233,010,000		$ 219,597,000
Marketable Security, Unrealized Gain (Loss)	$ 13,413,000	$ 14,690,000

Note 8 - Investments in Marke_4

Note 8 - Investments in Marketable Securities - Summary of Investments (Details) - Common Stock [Member] - USD ($)	Dec. 31, 2024	Sep. 30, 2024
Aggregate fair value	$ 372,104	$ 358,691
Adjusted cost basis	139,094	139,094
Pretax unrealized gain	$ 233,010	$ 219,597

Note 9 - Income Taxes (Details

Note 9 - Income Taxes (Details Textual) - USD ($)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Tax Expense (Benefit)	$ 4,000,000	$ 3,125,000
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	14,895,000	15,740,000
Effective Income Tax Rate Reconciliation, Realized Gains on Marketable Securities, Amount	3,500,000	3,765,000
Effective Income Tax Rate Reconciliation, Unrealized Gains (Losses) on Marketable Securities, Amount	15,000	30,000
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	275,000	270,000
Effective Income Tax Rate Reconciliation, Deduction, Dividends, Amount	10,000	820,000
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	$ 200,000	$ 120,000
Effective Income Tax Rate Reconciliation, Percent	26.90%	19.90%

Note 10 - Debt and Commitments

Note 10 - Debt and Commitments (Details Textual)		1 Months Ended		3 Months Ended		12 Months Ended
	Jan. 01, 2023	Mar. 31, 2024 USD ($)	Nov. 30, 2015 USD ($) a ft²	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2013 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Oct. 31, 2020
Investment Margin Account				$ 27,500,000			$ 27,500,000
Proceeds from Sale and Maturity of Debt Securities, Available-for-Sale		$ 40,600,000
Payments to Acquire Property, Plant, and Equipment				0	$ 5,000
Operating Lease, Expense				66,000	70,000
The 401(k) Retirement Plan [Member]
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	100%
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	50%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	4%
Defined Contribution Plan, Cost				175,000	176,000
The 409(A) Non-qualified Deferred Compensation Plan [Member]
Deferred Compensation Arrangement with Individual, Recorded Liability				934,000	$ 832,000		$ 387,000	$ 379,000
Building [Member] | UTAH
Area of Real Estate Property | ft²			30,700
Land [Member] | UTAH
Area of Land | a			3.6
Payments to Acquire Property, Plant, and Equipment			$ 1,240,000
Margin Account [Member]
Proceeds from Issuance of Debt				45,500,000		$ 29,500,000
Investment Margin Account								$ 75,000,000
Debt Instrument, Face Amount				$ 27,500,000
Debt Instrument, Basis Spread on Variable Rate						0.50%
Debt Instrument, Interest Rate, Effective Percentage				5%
Real Estate Bank Loan Secured by Logan Office [Member]
Loans Payable to Bank			$ 2,260,000	$ 1,080,000
Long-Term Debt, Percentage Bearing Fixed Interest, Percentage Rate			4.66%						3.33%
Long-Term Debt, Term									10 years
Debt Instrument, Periodic Payment				$ 16,700

Note 12 - Operating Segments (D

Note 12 - Operating Segments (Details Textual) - USD ($)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Revenues	$ 17,704,000	$ 15,993,000
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Non-US [Member]
Concentration Risk, Percentage	9%
Traditional Business [Member]
Revenues	$ 4,091,000	3,887,000
Traditional Business [Member] | Transferred at Point in Time [Member]
Revenues	3,011,000	2,792,000
Traditional Business [Member] | Transferred over Time [Member]
Revenues	1,080,000	1,095,000
Journal Technologies [Member]
Revenues	$ 13,613,000	$ 12,106,000
Journal Technologies [Member] | Revenue Benchmark [Member] | Product Concentration Risk [Member]
Concentration Risk, Percentage	77%	76%
Journal Technologies [Member] | Transferred at Point in Time [Member]
Revenues	$ 6,088,000	$ 5,570,000
Journal Technologies [Member] | Transferred over Time [Member]
Revenues	$ 7,525,000	$ 6,536,000

Note 12 - Operating Segments -

Note 12 - Operating Segments - Summarized Financial Information for Reportable Segments (Details) - USD ($)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2024
Advertising	$ 17,704,000	$ 15,993,000
Salaries and employee benefits	12,036,000	11,347,000
Stock-based compensation	24,000	0
Decrease to the long-term supplemental compensation accrual	(185,000)	(420,000)
Total operating expenses	16,962,000	15,370,000
Income from operations	742,000	623,000
Dividends and interest income	1,184,000	1,569,000
Unrealized Gain (Loss) on Compensation Plan	(50,000)	0
Net unrealized gains on marketable securities	13,413,000	14,690,000
Pretax income	14,895,000	15,740,000
Income tax provisions	(4,000,000)	(3,125,000)
Net income	10,895,000	12,615,000
Total assets	412,571,000	357,363,000	$ 403,763,000
Capital expenditures	0	5,000
Real Estate Bank Loan Secured by Logan Office [Member]
Interest expense on margin loans and others	(9,000)	(11,000)
Margin Account [Member]
Interest expense on margin loans and others	(385,000)	(1,131,000)
Traditional Business [Member]
Advertising	4,091,000	3,887,000
Journal Technologies [Member]
Advertising	13,613,000	12,106,000
Advertising [Member]
Advertising	2,279,000	2,087,000
Subscription and Circulation [Member]
Advertising	1,080,000	1,095,000
Advertising Service Fees and Other [Member]
Advertising	732,000	705,000
License and Maintenance [Member]
Advertising	7,525,000	6,557,000
Consulting Fees [Member]
Advertising	2,599,000	3,302,000
Service, Other [Member]
Advertising	3,489,000	2,247,000
Others	5,087,000
Admission [Member]
Others		4,443,000
Operating Segments [Member]
Income from operations		336,000
Operating Segments [Member] | Traditional Business [Member]
Advertising	4,091,000	3,887,000
Salaries and employee benefits	2,490,000	2,549,000
Stock-based compensation	4,000
Decrease to the long-term supplemental compensation accrual	(185,000)	(420,000)
Others	1,496,000	1,471,000
Total operating expenses	3,805,000	3,600,000
Income from operations	286,000	287,000
Pretax income	286,000	287,000
Income tax provisions	(75,000)	(55,000)
Net income	211,000	232,000
Total assets	13,851,000	15,483,000
Capital expenditures		5,000
Operating Segments [Member] | Journal Technologies [Member]
Advertising	13,613,000	12,106,000
Salaries and employee benefits	9,546,000	8,798,000
Stock-based compensation	20,000
Others	3,591,000	2,972,000
Total operating expenses	13,157,000	11,770,000
Income from operations	456,000
Pretax income	456,000	336,000
Income tax provisions	(175,000)	(250,000)
Net income	281,000	86,000
Total assets	25,784,000	24,062,000
Operating Segments [Member] | Advertising [Member] | Traditional Business [Member]
Advertising	2,279,000	2,087,000
Operating Segments [Member] | Subscription and Circulation [Member] | Traditional Business [Member]
Advertising	1,080,000	1,095,000
Operating Segments [Member] | Advertising Service Fees and Other [Member] | Traditional Business [Member]
Advertising	732,000	705,000
Operating Segments [Member] | License and Maintenance [Member] | Journal Technologies [Member]
Advertising	7,525,000	6,557,000
Operating Segments [Member] | Consulting Fees [Member] | Journal Technologies [Member]
Advertising	2,599,000	3,302,000
Operating Segments [Member] | Service, Other [Member] | Journal Technologies [Member]
Advertising	3,489,000	2,247,000
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]
Dividends and interest income	1,184,000	1,569,000
Unrealized Gain (Loss) on Compensation Plan	(50,000)
Net unrealized gains on marketable securities	13,413,000	14,690,000
Pretax income	14,153,000	15,117,000
Income tax provisions	(3,750,000)	(2,820,000)
Net income	10,403,000	12,297,000
Total assets	372,936,000	317,818,000
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member] | Real Estate Bank Loan Secured by Logan Office [Member]
Interest expense on margin loans and others	(9,000)	(11,000)
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member] | Margin Account [Member]
Interest expense on margin loans and others	$ (385,000)	$ (1,131,000)