Clearfield (CLFD) 10-Q 30 Jan 14 2014 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Dec. 31, 2013	Jan. 17, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'Clearfield, Inc.	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--09-30	'
Entity Common Stock, Shares Outstanding	'	12,999,084
Amendment Flag	'false	'
Entity Central Index Key	'0000796505	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	31-Dec-13	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

Condensed_Balance_Sheets_Curre

Condensed Balance Sheets (Current Period Unaudited) (USD $)	Dec. 31, 2013	Sep. 30, 2013
Assets	'	'
Cash and cash equivalents	$17,734,304	$9,807,957
Short-term investments	3,340,000	5,992,000
Accounts receivables, net	2,284,344	7,837,543
Inventories, net	5,127,091	5,626,764
Deferred taxes	4,450,135	4,615,110
Other current assets	504,512	317,829
Total Current Assets	33,440,386	34,197,203
Property, plant and equipment, net	1,735,695	1,796,812
Other Assets	'	'
Long-term investments	8,246,000	6,770,000
Goodwill	2,570,511	2,570,511
Deferred taxes	'	810,573
Other	272,389	268,240
Total other assets	11,088,900	10,419,324
Total Assets	46,264,981	46,413,339
Current Liabilities	'	'
Accounts payable	2,177,981	2,627,764
Accrued compensation	1,555,241	3,522,907
Accrued expenses	168,038	163,531
Total Current Liabilities	3,901,260	6,314,202
Other Liabilities	'	'
Deferred taxes	52,662	'
Deferred rent	19,609	21,101
Total other liabilities	72,271	21,101
Total Liabilities	3,973,531	6,335,303
Commitments and Contingencies	'	'
Shareholders’ Equity	'	'
Preferred stock, $.01 par value; authorized 500 shares; no shares outstanding	'	'
Common stock, authorized 50,000,000, $.01 par value; 12,999,084 and 12,974,263, shares issued and outstanding at December 31, 2013 and September 30, 2013	129,991	129,743
Additional paid-in capital	55,039,769	54,808,929
Accumulated deficit	-12,878,310	-14,860,636
Total Shareholders’ Equity	42,291,450	40,078,036
Total Liabilities and Shareholders’ Equity	$46,264,981	$46,413,339

Condensed_Balance_Sheets_Curre1

Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)	Dec. 31, 2013	Sep. 30, 2013
Preferred stock, par value (in Dollars per share)	$0.01	$0.01
Preferred stock, authorized shares	500	500
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	50,000,000	50,000,000
Common stock, par value (in Dollars per share)	$0.01	$0.01
Common stock, shares issued	12,999,084	12,974,263
Common stock, shares outstanding	12,999,084	12,974,263

Condensed_Statements_Of_Earnin

Condensed Statements Of Earnings Unaudited (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Net sales	$16,147,622	$10,265,362
Cost of sales	9,209,977	6,341,102
Gross profit	6,937,645	3,924,260
Operating expenses	'	'
Selling, general and administrative	3,865,019	3,038,511
Income from operations	3,072,626	885,749
Interest income	19,700	25,462
Income before income taxes	3,092,326	911,211
Income tax expense	1,110,000	366,000
Net income	$1,982,326	$545,211
Net income per share:	'	'
Basic (in Dollars per share)	$0.16	$0.04
Diluted (in Dollars per share)	$0.15	$0.04
Weighted average shares outstanding:	'	'
Basic (in Shares)	12,689,412	12,476,173
Diluted (in Shares)	13,544,424	12,798,314

Condensed_Statements_Of_Cash_F

Condensed Statements Of Cash Flows Unaudited (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities	'	'
Net income	$1,982,326	$545,211
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	151,910	121,225
Deferred taxes	1,028,210	332,760
(Gain) loss on disposal of assets	-86	7,297
Stock based compensation	188,160	186,049
Changes in operating assets and liabilities:	'	'
Accounts receivable, net	5,553,199	-181,214
Inventories, net	499,673	-654,295
Other assets	-189,241	-43,717
Accounts payable and accrued expenses	-2,414,434	-257,289
Net cash provided by operating activities	6,799,717	56,027
Cash flows from investing activities	'	'
Purchases of property, plant and equipment and intangible assets	-92,298	-154,398
Purchases of investments	-2,606,000	-1,655,000
Proceeds from maturities of investments	3,782,000	2,145,000
Net cash provided by investing activities	1,083,702	335,602
Cash flows from financing activities	'	'
Proceeds from issuance of common stock under employee stock purchase plan	90,417	68,760
Proceeds from issuance of common stock upon exercise of stock options	25,327	7,625
Tax withholding related to exercise of stock options	-72,816	-9,988
Net cash provided by financing activities	42,928	66,397
Increase in cash and cash equivalents	7,926,347	458,026
Cash and cash equivalents, beginning of period	9,807,957	5,678,143
Cash and cash equivalents, end of period	17,734,304	6,136,169
Supplemental disclosures for cash flow information	'	'
Cash paid during the year for income taxes	79,276	'
Non-cash financing activities	'	'
Cashless exercise of stock options	$22,427	$16,588

Note_1_Basis_of_Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Dec. 31, 2013
Disclosure Text Block [Abstract]	'
Basis of Accounting [Text Block]	'
	Note 1.  Basis of Presentation
	The accompanying condensed financial statements are unaudited and have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information, pursuant to the rules and regulations of the Securities and Exchange Commission.  Pursuant to these rules and regulations, certain financial information and footnote disclosures normally included in the financial statements have been condensed or omitted.  However, in the opinion of management, the financial statements include all adjustments, consisting of normal recurring accruals, necessary for a fair presentation of the financial position and results of operations and cash flows of the interim periods presented.  Operating results for the interim periods presented are not necessarily indicative of results to be expected for the full year or for any other interim period, due to variability in customer purchasing patterns and seasonal, operating and other factors.  These condensed financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended September 30, 2013.
	In preparation of the Company’s financial statements, management is required to make estimates and assumptions that affect reported amounts of assets and liabilities and related revenues and expenses during the reporting periods.  As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates.

Note_2_Net_Income_Per_Share

Note 2 - Net Income Per Share	3 Months Ended
	Dec. 31, 2013
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	Note 2.  Net Income Per Share
	Basic net income per common share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period.  Diluted EPS equals net income divided by the sum of the weighted average number of shares of common stock outstanding plus all additional common stock equivalents, such as stock options and restricted stock awards, when dilutive.
		Three Months Ended December 31
		2013		2012
	Net income	$	1,982,326	$	545,211
	Weighted average common shares		12,689,412		12,476,173
	Dilutive potential common shares		855,012		322,141
	Weighted average dilutive common shares outstanding		13,544,424		12,798,314
	Net income per common share:
	Basic	$	0.16	$	0.04
	Diluted	$	0.15	$	0.04
	The calculation of diluted net income per common share excluded 324,500 potentially dilutive shares for the three months ended December 31, 2012 because their effect would be anti-dilutive.  There were no shares excluded for the three months ended December 31, 2013 as all shares were dilutive.

Note_3_Cash_Cash_Equivalents_a

Note 3 - Cash, Cash Equivalents and Investments	3 Months Ended
	Dec. 31, 2013
Cash and Cash Equivalents [Abstract]	'
Cash and Cash Equivalents Disclosure [Text Block]	'
	Note  3.  Cash, Cash Equivalents and Investments
	The Company currently invests its excess cash in money market accounts and bank certificates of deposit (CDs) with a term of not more than three years.  CDs with original maturities of more than three months are reported as held-to-maturity investments and are carried at amortized cost.  The maturity dates of the Company’s CDs at December 31, 2013 and September 30, 2013 are as follows:
		December 31,		September 30,
		2013		2013
	Less than one year	$	3,340,000	$	5,992,000
	1-3 years		8,246,000		6,770,000
	Total	$	11,586,000	$	12,762,000

Note_4_Stock_Based_Compensatio

Note 4 - Stock Based Compensation	3 Months Ended
	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	'
	Note 4.  Stock Based Compensation
	The Company recorded $188,160 of compensation expense related to current and past option grants, restricted stock grants and the Company’s Employee Stock Purchase Plan for the three months ended December 31, 2013.  The Company recorded $186,049 of compensation expense related to current and past equity awards for the three months ended December 31, 2012.  This expense is included in selling, general and administrative expense.  As of December 31, 2013, $1,740,908 of total unrecognized compensation expense related to non-vested equity awards is expected to be recognized over a weighted average period of approximately 3.7 years.
	There were no stock options granted during the three-month periods ended December 31, 2013 and December 31, 2012.  The following is a summary of stock option activity during the three months ended December 31, 2013:
		Number of			Weighted average
		options			exercise price
	Outstanding at September 30, 2013		863,519		$	3.24
	Granted		-			-
	Exercised		(20,400	)		2.34
	Cancelled or Forfeited		(2,250	)		4.26
	Outstanding at December 31, 2013		840,869		$	3.26
	The intrinsic value of an option is the amount by which the fair value of the underlying stock exceeds its exercise price.  At December 31, 2013, the weighted average remaining contractual term for all outstanding stock options was 3.8 years and their aggregate intrinsic value was $14,279,748.  At December 31, 2013, the weighted average remaining contractual terms of options that were exercisable was 3.9 years and their aggregate intrinsic value was $12,114,284.  During the three months ended December 31, 2013, the Company received proceeds of $25,327 from the exercise of stock options.  During the three months ended December 31, 2012, exercised stock options totaled 16,037 shares, resulting in $7,625 of proceeds to the Company.
	Restricted Stock
	The Company’s 2007 Stock Compensation Plan permits its Compensation Committee to grant other stock-based awards.  The Company makes restricted stock grants to key employees and non-employee directors that vest over one to five years.  Restricted stock transactions during the three-month period ended December 31, 2013 is summarized as follows:
		Number of			Weighted average grant
		shares			date fair value
	Unvested shares at September 30, 2013		292,290		$	5.11
	Granted		-			-
	Vested		-			-
	Forfeited		(1,200	)		5.1
	Unvested at December 31, 2013		291,090		$	5.11
	Employee Stock Purchase Plan
	Clearfield, Inc.’s Employee Stock Purchase Plan (“ESPP”) allows participating employees to purchase shares of the Company’s common stock at a discount through payroll deductions.  The ESPP is available to all employees subject to certain eligibility requirements.  Terms of the ESPP provide that participating employees may purchase the Company’s common stock on a voluntary after-tax basis.  Employees may purchase the Company’s common stock at a price that is no less than the lower of 85% of the fair market value of one share of common stock at the beginning or end of each stock purchase period or phase.  The ESPP is carried out in six month phases, with phases beginning on January 1 and July 1 of each calendar year.  For the phases that ended on December 31, 2013 and December 31, 2012, employees purchased 10,920 and 18,000 shares at a price of $8.28 and $3.82 per share, respectively.  After the employee purchase on December 31, 2013, 192,325 shares of common stock were available for future purchase under the ESPP.

Note_5_Accounts_Receivable

Note 5 - Accounts Receivable	3 Months Ended
	Dec. 31, 2013
Receivables [Abstract]	'
Financing Receivables [Text Block]	'
	Note 5.  Accounts Receivable
	Credit is extended based on the evaluation of a customer’s financial condition and collateral is generally not required.  Accounts that are outstanding longer than the contractual payment terms are considered past due. The Company writes off accounts receivable when they become uncollectible; payments subsequently received on such receivables are credited to the allowance for doubtful accounts.  At both December 31, 2013 and September 30, 2013, the balance in the allowance for doubtful accounts was $97,950.  See Note 7, “Major Customer Concentration” for further information regarding accounts receivable.

Note_6_Inventories

Note 6 - Inventories	3 Months Ended
	Dec. 31, 2013
Inventory Disclosure [Abstract]	'
Inventory Disclosure [Text Block]	'
	Note 6.  Inventories
	Inventories consist of the following as of:
		31-Dec-13		30-Sep-13
	Raw materials	$	3,490,880	$	4,110,224
	Work-in-progress		591,728		494,980
	Finished goods		1,044,483		1,021,560
		$	5,127,091	$	5,626,764

Note_7_Major_Customer_Concentr

Note 7 - Major Customer Concentration	3 Months Ended
	Dec. 31, 2013
Risks and Uncertainties [Abstract]	'
Concentration Risk Disclosure [Text Block]	'
	Note 7.  Major Customer Concentration
	Customers A and B comprised approximately 48% and 11% of net sales, respectively, for the three months ended December 31, 2013.  Customer B comprised approximately 23% of net sales for the three months ended December 31, 2012.
	At December 31, 2013 and September 30, 2013, Customer A accounted for 13% and 57% of accounts receivable, respectively.

Note_8_Goodwill_and_Patents

Note 8 - Goodwill and Patents	3 Months Ended
	Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'
Goodwill and Intangible Assets Disclosure [Text Block]	'
	Note 8.  Goodwill and Patents
	The Company analyzes its goodwill for impairment annually or at an interim period when events occur or changes in circumstances indicate potential impairment.  The result of the analysis performed in the fourth quarter ended September 30, 2013 did not indicate an impairment of goodwill.  During the quarter ended December 31, 2013, there were no triggering events that indicate potential impairment exists.
	The Company capitalizes legal costs incurred to obtain patents.  Once accepted by either the U.S. Patent Office or the equivalent office of a foreign country, these legal costs are amortized using the straight-line method over the remaining estimated lives, not exceeding 17 years.  As of December 31, 2013, the Company has four patents granted in the United States and four pending applications pending inside and outside the United States.

Note_9_Income_Taxes

Note 9 - Income Taxes	3 Months Ended
	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure [Text Block]	'
	Note 9.  Income Taxes
	For the three months ended December 31, 2013, the Company recorded a provision for income taxes of approximately $1,110,000, reflecting an effective tax rate of 35.9%.  The primary difference between the effective tax rate and the statutory tax rate is related to nondeductible meals and entertainment, expenses related to equity award compensation and favorable discrete items for the quarter.
	As of both December 31, 2013 and September 30, 2013, the Company had a remaining valuation allowance of approximately $975,000 related to state net operating loss carry forwards the Company does not expect to utilize.  Based on the Company’s analysis and review of long-term forecasts and all available evidence, the Company has determined that there should be no change in this existing valuation allowance in the current quarter.
	For the three months ended December 31, 2012, the Company recorded a provision for income taxes of approximately $366,000, reflecting an effective tax rate of 40.2%.  The primary difference between the effective tax rate and the statutory tax rate is related to nondeductible meals and entertainment, and expenses related to equity award compensation.
	Deferred taxes recognize the impact of temporary differences between the amounts of the assets and liabilities recorded for financial statement purposes and these amounts measured in accordance with tax laws. The Company’s realization of net operating loss carry-forward and other deferred tax temporary differences is contingent upon future taxable earnings. The Company reviewed its deferred tax asset for expected utilization using a “more likely than not” criteria by assessing the available positive and negative factors surrounding its recoverability.
	As of December 31, 2013, we do not have any unrecognized tax benefits.  It is the Company’s practice to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense.  The Company does not expect any material changes in its unrecognized tax positions over the next 12 months.

Accounting_Policies_by_Policy_

Accounting Policies, by Policy (Policies)	3 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Use of Estimates, Policy [Policy Text Block]	'
	In preparation of the Company’s financial statements, management is required to make estimates and assumptions that affect reported amounts of assets and liabilities and related revenues and expenses during the reporting periods.  As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates.

Note_2_Net_Income_Per_Share_Ta

Note 2 - Net Income Per Share (Tables)	3 Months Ended
	Dec. 31, 2013
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
		Three Months Ended December 31
		2013		2012
	Net income	$	1,982,326	$	545,211
	Weighted average common shares		12,689,412		12,476,173
	Dilutive potential common shares		855,012		322,141
	Weighted average dilutive common shares outstanding		13,544,424		12,798,314
	Net income per common share:
	Basic	$	0.16	$	0.04
	Diluted	$	0.15	$	0.04

Note_3_Cash_Cash_Equivalents_a1

Note 3 - Cash, Cash Equivalents and Investments (Tables)	3 Months Ended
	Dec. 31, 2013
Cash and Cash Equivalents [Abstract]	'
Investments Classified by Contractual Maturity Date [Table Text Block]	'
		December 31,		September 30,
		2013		2013
	Less than one year	$	3,340,000	$	5,992,000
	1-3 years		8,246,000		6,770,000
	Total	$	11,586,000	$	12,762,000

Note_4_Stock_Based_Compensatio1

Note 4 - Stock Based Compensation (Tables)	3 Months Ended
	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	'
		Number of			Weighted average
		options			exercise price
	Outstanding at September 30, 2013		863,519		$	3.24
	Granted		-			-
	Exercised		(20,400	)		2.34
	Cancelled or Forfeited		(2,250	)		4.26
	Outstanding at December 31, 2013		840,869		$	3.26
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	'
		Number of			Weighted average grant
		shares			date fair value
	Unvested shares at September 30, 2013		292,290		$	5.11
	Granted		-			-
	Vested		-			-
	Forfeited		(1,200	)		5.1
	Unvested at December 31, 2013		291,090		$	5.11

Note_6_Inventories_Tables

Note 6 - Inventories (Tables)	3 Months Ended
	Dec. 31, 2013
Inventory Disclosure [Abstract]	'
Schedule of Inventory, Current [Table Text Block]	'
		31-Dec-13		30-Sep-13
	Raw materials	$	3,490,880	$	4,110,224
	Work-in-progress		591,728		494,980
	Finished goods		1,044,483		1,021,560
		$	5,127,091	$	5,626,764

Note_2_Net_Income_Per_Share_De

Note 2 - Net Income Per Share (Details)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Earnings Per Share [Abstract]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	324,500

Note_2_Net_Income_Per_Share_De1

Note 2 - Net Income Per Share (Details) - Net Income Per Common Share (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Net Income Per Common Share [Abstract]	'	'
Net income (in Dollars)	$1,982,326	$545,211
Weighted average common shares	12,689,412	12,476,173
Dilutive potential common shares	855,012	322,141
Weighted average dilutive common shares outstanding	13,544,424	12,798,314
Net income per common share:	'	'
Basic (in Dollars per share)	$0.16	$0.04
Diluted (in Dollars per share)	$0.15	$0.04

Note_3_Cash_Cash_Equivalents_a2

Note 3 - Cash, Cash Equivalents and Investments (Details) - CD Maturity Dates (USD $)	Dec. 31, 2013	Sep. 30, 2013
CD Maturity Dates [Abstract]	'	'
Less than one year	$3,340,000	$5,992,000
1-3 years	8,246,000	6,770,000
Total	$11,586,000	$12,762,000

Note_4_Stock_Based_Compensatio2

Note 4 - Stock Based Compensation (Details) (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Note 4 - Stock Based Compensation (Details) [Line Items]	'	'
Share-based Compensation	$188,160	$186,049
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	1,740,908	'
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	'3 years 255 days	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares)	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	'3 years 292 days	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	14,279,748	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	'3 years 328 days	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	12,114,284	'
Proceeds from Stock Options Exercised	$25,327	$7,625
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares)	20,400	16,037
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date	85.00%	'
Restricted Stock [Member] | Minimum [Member]	'	'
Note 4 - Stock Based Compensation (Details) [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	'1 year	'
Restricted Stock [Member] | Maximum [Member]	'	'
Note 4 - Stock Based Compensation (Details) [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	'5 years	'
Employee Stock Purchase Plan [Member]	'	'
Note 4 - Stock Based Compensation (Details) [Line Items]	'	'
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in Shares)	10,920	18,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share)	$8.28	$3.82
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares)	192,325	'

Note_4_Stock_Based_Compensatio3

Note 4 - Stock Based Compensation (Details) - Stock Option Activity (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Stock Option Activity [Abstract]	'	'
Outstanding at September 30, 2013	863,519	'
Outstanding at September 30, 2013 (in Dollars per share)	$3.24	'
Exercised	-20,400	-16,037
Exercised (in Dollars per share)	$2.34	'
Cancelled or Forfeited	-2,250	'
Cancelled or Forfeited (in Dollars per share)	$4.26	'
Outstanding at December 31, 2013	840,869	'
Outstanding at December 31, 2013 (in Dollars per share)	$3.26	'

Note_4_Stock_Based_Compensatio4

Note 4 - Stock Based Compensation (Details) - Restricted Stock Transactions (Restricted Stock [Member], USD $)	3 Months Ended
	Dec. 31, 2013
Restricted Stock [Member]	'
Note 4 - Stock Based Compensation (Details) - Restricted Stock Transactions [Line Items]	'
Unvested shares at September 30, 2013	292,290
Unvested shares at September 30, 2013 (in Dollars per share)	$5.11
Forfeited	-1,200
Forfeited (in Dollars per share)	$5.10
Unvested at December 31, 2013	291,090
Unvested at December 31, 2013 (in Dollars per share)	$5.11

Note_5_Accounts_Receivable_Det

Note 5 - Accounts Receivable (Details) (USD $)	Dec. 31, 2013	Sep. 30, 2013
Receivables [Abstract]	'	'
Allowance for Doubtful Accounts Receivable, Current	$97,950	$97,950

Note_6_Inventories_Details_Com

Note 6 - Inventories (Details) - Components Of Inventory (USD $)	Dec. 31, 2013	Sep. 30, 2013
Components Of Inventory [Abstract]	'	'
Raw materials	$3,490,880	$4,110,224
Work-in-progress	591,728	494,980
Finished goods	1,044,483	1,021,560
	$5,127,091	$5,626,764

Note_7_Major_Customer_Concentr1

Note 7 - Major Customer Concentration (Details)	3 Months Ended		12 Months Ended	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2013	Dec. 31, 2012
	Customer A [Member]	Customer A [Member]	Customer A [Member]	Customer B [Member]	Customer B [Member]
	Total Sales Concentration Percentage [Member]	Accounts Receivable Concentration Percentage [Member]	Accounts Receivable Concentration Percentage [Member]	Total Sales Concentration Percentage [Member]	Total Sales Concentration Percentage [Member]
Note 7 - Major Customer Concentration (Details) [Line Items]	'	'	'	'	'
Concentration Risk, Percentage	48.00%	13.00%	57.00%	11.00%	23.00%

Note_8_Goodwill_and_Patents_De

Note 8 - Goodwill and Patents (Details) (Patents [Member])	3 Months Ended
	Dec. 31, 2013
Patents [Member]	'
Note 8 - Goodwill and Patents (Details) [Line Items]	'
Finite-Lived Intangible Asset, Useful Life	'17 years

Note_9_Income_Taxes_Details

Note 9 - Income Taxes (Details) (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Sep. 30, 2013
Note 9 - Income Taxes (Details) [Line Items]	'	'	'
Income Tax Expense (Benefit)	$1,110,000	$366,000	'
Effective Income Tax Rate Reconciliation, Percent	35.90%	40.20%	'
Deferred Tax Assets, Valuation Allowance	975,000	'	975,000
Basis Difference In Goodwill On Prior Asset Acquisitions [Member]	'	'	'
Note 9 - Income Taxes (Details) [Line Items]	'	'	'
Income Tax Expense (Benefit)	'	$366,000	'