Clearfield (CLFD) 10-K 25 Nov 15 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Sep. 30, 2015	Nov. 15, 2015	Mar. 31, 2015
Entity Registrant Name	Clearfield, Inc.
Entity Central Index Key	796,505
Trading Symbol	clfd
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		13,702,310
Entity Public Float			$ 167,018,584
Document Type	10-K
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false

Balance Sheets

Balance Sheets - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Current Assets
Cash and cash equivalents	$ 18,071,210	$ 18,191,493
Short-term investments	7,925,000	6,632,000
Accounts receivable, net	6,010,900	5,027,856
Inventories	7,182,854	5,390,342
Deferred taxes	1,146,899	2,249,435
Other current assets	416,766	543,257
Total current assets	40,753,629	38,034,383
Property, plant and equipment, net	5,689,673	2,462,250
Other Assets
Long-term investments	8,290,000	8,302,000
Goodwill	$ 2,570,511	2,570,511
Deferred taxes		156,622
Other	$ 323,804	322,132
Total other assets	11,184,315	11,351,265
Total Assets	57,627,617	51,847,898
Current Liabilities
Accounts payable	2,357,791	2,104,526
Accrued compensation	2,598,661	2,749,080
Accrued expenses	80,803	247,658
Total current liabilities	5,037,255	$ 5,101,264
Other Liabilities
Deferred taxes	1,082,887
Deferred rent	228,345
Total other liabilities	1,311,232
Total Liabilities	$ 6,348,487	$ 5,101,264
Commitment and Contingencies
Shareholders’ Equity
Preferred stock, $.01 par value; 500 shares; no shares issued or outstanding	$ 0	$ 0
Common stock, $ .01 par value; 50,000,000 shares authorized; 13,705,658 and 13,742,964 shares issued and outstanding at September 30, 2015 and 2014, respectively	137,057	137,430
Additional paid-in capital	55,887,850	56,036,989
Accumulated deficit	(4,745,777)	(9,427,785)
Total shareholders’ equity	51,279,130	46,746,634
Total Liabilities and Shareholders’ Equity	$ 57,627,617	$ 51,847,898

Balance Sheets (Parentheticals)

Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2015	Sep. 30, 2014
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	500	500
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	13,705,658	13,742,964
Common stock, shares outstanding (in shares)	13,705,658	13,742,964

Statements of Earnings

Statements of Earnings - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Net sales	$ 60,323,917	$ 58,045,292	$ 53,353,080
Cost of sales	35,455,964	33,446,526	31,363,502
Gross profit	24,867,953	24,598,766	21,989,578
Operating expenses
Selling, general and administrative	17,816,598	16,080,640	14,544,843
Income from operations	7,051,355	8,518,126	7,444,735
Interest income	105,891	95,703	92,281
Income before income taxes	7,157,246	8,613,829	7,537,016
Income tax expense	2,475,238	3,180,978	2,803,172
Net income	$ 4,682,008	$ 5,432,851	$ 4,733,844
Net income per share Basic (in dollars per share)	$ 0.35	$ 0.42	$ 0.38
Net income per share Diluted (in dollars per share)	$ 0.34	$ 0.40	$ 0.36
Basic (in shares)	13,216,010	12,916,273	12,527,153
Diluted (in shares)	13,587,532	13,601,594	13,078,939

Statements of Shareholders' Equ

Statements of Shareholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Sep. 30, 2012	12,830,100
Balance at Sep. 30, 2012	$ 128,301	$ 54,152,080	$ (19,594,480)	$ 34,685,901
Stock-based compensation expense		753,727		753,727
Restricted stock issuance, net (in shares)	4,090
Restricted stock issuance, net	$ 41	25		66
Stock Issued During Period, Shares, Employee Stock Purchase Plans	35,597
Employee stock purchase plan	$ 356	135,625		135,981
Exercise of stock options, net of shares exchanged for payment (in shares)	139,455
Exercise of stock options, net of shares exchanged for payment	$ 1,394	62,606		64,000
Tax withholding related to vesting of restricted stock grants and exercise of stock options (in shares)	(34,979)
Tax withholding related to vesting of restricted stock grants and exercise of stock options	$ (349)	(297,639)		(297,988)
Excess tax benefit of stock options exercised		$ 2,505		2,505
Net income			$ 4,733,844	4,733,844
Balance (in shares) at Sep. 30, 2013	12,974,263
Balance at Sep. 30, 2013	$ 129,743	$ 54,808,929	$ (14,860,636)	40,078,036
Restricted stock forfeiture, net (in shares)	4,090
Stock-based compensation expense		794,865		$ 794,865
Restricted stock issuance, net (in shares)	305,615
Restricted stock issuance, net	$ 3,056	(3,056)
Stock Issued During Period, Shares, Employee Stock Purchase Plans	17,589
Employee stock purchase plan	$ 176	185,408		$ 185,584
Exercise of stock options, net of shares exchanged for payment (in shares)	471,603
Exercise of stock options, net of shares exchanged for payment	$ 4,716	641,737		646,453
Tax withholding related to vesting of restricted stock grants and exercise of stock options (in shares)	(26,106)
Tax withholding related to vesting of restricted stock grants and exercise of stock options	$ (261)	(399,368)		(399,629)
Excess tax benefit of stock options exercised		$ 8,474		8,474
Net income			$ 5,432,851	5,432,851
Balance (in shares) at Sep. 30, 2014	13,742,964
Balance at Sep. 30, 2014	$ 137,430	$ 56,036,989	$ (9,427,785)	46,746,634
Restricted stock forfeiture, net (in shares)	305,615
Stock-based compensation expense		1,074,727		$ 1,074,727
Restricted stock issuance, net (in shares)	(7,900)
Restricted stock issuance, net	$ (79)	79
Stock Issued During Period, Shares, Employee Stock Purchase Plans	20,216
Employee stock purchase plan	$ 202	211,257		$ 211,459
Exercise of stock options, net of shares exchanged for payment (in shares)	60,011
Exercise of stock options, net of shares exchanged for payment	$ 600	42,506		43,106
Tax withholding related to vesting of restricted stock grants and exercise of stock options (in shares)	(37,544)
Tax withholding related to vesting of restricted stock grants and exercise of stock options	$ (375)	(638,932)		(639,307)
Excess tax benefit of stock options exercised		$ 9,660		9,660
Net income			$ 4,682,008	4,682,008
Balance (in shares) at Sep. 30, 2015	13,705,658
Balance at Sep. 30, 2015	$ 137,057	$ 55,887,850	$ (4,745,777)	51,279,130
Repurchase of common stock (in shares)	(72,089)
Repurchase of common stock	$ (721)	$ (848,436)		$ (849,157)
Restricted stock forfeiture, net (in shares)	(7,900)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:
Net income	$ 4,682,008	$ 5,432,851	$ 4,733,844
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	1,216,083	699,869	476,400
Deferred income taxes	2,342,045	3,019,626	2,564,045
Loss on disposal of assets	23,196	12,809	15,388
Stock-based compensation expense	1,074,727	794,865	753,727
Changes in operating assets and liabilities:
Accounts receivable, net	(983,044)	2,809,687	(4,814,907)
Inventories	(1,792,512)	236,422	(2,655,150)
Other current assets	121,381	(243,339)	(15,157)
Accounts payable and accrued expenses	164,336	(1,234,039)	3,280,866
Net cash provided by operating activities	6,848,220	11,528,751	4,339,056
Cash flows from investing activities:
Purchases of property and equipment	(4,518,782)	(1,418,461)	(1,018,453)
Purchase of investments	(10,374,000)	(8,899,000)	(8,683,000)
Proceeds from sale of property and equipment	79,936	40,908	6,500
Patent additions	(24,418)	(36,544)	(18,853)
Sale of investments	9,093,000	6,727,000	9,600,000
Net cash used in investing activities	(5,744,264)	$ (3,586,097)	$ (113,806)
Cash flows from financing activities:
Repurchase of common stock	(849,157)
Proceeds from issuance of common stock under employee stock purchase plan	211,459	$ 185,584	$ 135,981
Proceeds from issuance of common stock	43,106	646,453	64,066
Excess tax benefit from exercise of stock options	9,660	8,474	2,505
Tax withholding related to vesting of restricted stock grants and exercise of stock options	(639,307)	(399,629)	(297,988)
Net cash (used in) provided by financing activities	(1,224,239)	440,882	(95,436)
(Decrease) increase in cash and cash equivalents	(120,283)	8,383,536	4,129,814
Cash and cash equivalents at beginning of year	18,191,493	9,807,957	5,678,143
Cash and cash equivalents at end of year	18,071,210	18,191,493	9,807,957
Supplemental cash flow information
Cash paid during the year for income taxes	50,850	361,284	153,644
Non-cash financing activities
Cashless exercise of stock options	$ 207,738	$ 297,883	$ 242,848

Note A - Summary of Significant

Note A - Summary of Significant Accounting Policies	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business: Revenue Recognition: Cash and Cash Equivalents: The Company maintains cash balances at several financial institutions, and at times, such balances exceed insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents. Investments: September 30, September 30, Less than one year $ 7,925,000 $ 6,632,000 1-3 years 8,290,000 8,302,000 Total $ 16,215,000 $ 14,934,000 Accounts Receivable: The allowance for doubtful accounts activity for the years ended September 30, 2015, 2014 and 2013 is as follows: Year Ended Balance at Additions Less Balance September 30, 2015 $ 97,950 $ - $ (18,477 ) $ 79,473 September 30, 2014 97,950 - - 97,950 September 30, 2013 97,950 - - 97,950 Fair Value of Financial Instruments: Inventories: September 30, September 30, Raw materials $ 4,811,993 $ 3,729,160 Work-in-process 310,149 292,557 Finished goods 2,060,712 1,368,625 $ 7,182,854 $ 5,390,342 Inventory is stated at the lower of cost or market. On a regular basis, the Company reviews its inventory and identifies that which is excess, slow moving, and obsolete by considering factors such as inventory levels, expected product life, and forecasted sales demand. Any identified excess, slow moving, and obsolete inventory is written down to its market value through a charge to cost of sales. It is possible that additional inventory write-down charges may be required in the future if there is a significant decline in demand for the Company’s products and the Company does not adjust its manufacturing production accordingly. Property, Plant and Equipment: Years Equipment 3 - 7 Leasehold improvements 7 - 10 or life of lease Vehicles 3 Property, plant and equipment consist of the following: September 30, September 30, Manufacturing Equipment $ 4,102,868 $ 3,057,665 Office Equipment 2,655,088 1,985,409 Leasehold Improvements 2,414,133 320,218 Vehicles 193,702 192,321 9,365,791 5,555,613 Less accumulated depreciation 3,676,118 3,093,363 $ 5,689,673 $ 2,462,250 Depreciation expense for the years ended September 30, 2015, 2014 and 2013 were $1,214,512, $699,306 and $475,524, respectively. Goodwill and Patents: A significant reduction in our market capitalization or in the carrying amount of net assets of a reporting unit could result in an impairment charge. If the carrying amount of a reporting unit exceeds its fair value, the Company would measure the possible goodwill impairment loss based on an allocation of the estimate of fair value of the reporting unit to all of the underlying assets and liabilities of the reporting unit, including any previously unrecognized intangible assets. The excess of the fair value of a reporting unit over the amounts assigned to its assets and liabilities is the implied fair value of goodwill. An impairment loss is recognized to the extent that a reporting unit's recorded goodwill exceeds the implied fair value of goodwill. An impairment loss would be based on significant estimates and judgments, and if the facts and circumstances change, a potential impairment could have a material impact on the Company’s financial statements. No impairment of goodwill has occurred during the years ended September 30, 2015, 2014 or 2013, respectively. 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 20 years. As of September 30, 2015, the Company has five patents granted and five pending applications inside the United States. Impairment of Long-Lived Assets: Any required impairment loss is measured as the amount by which the carrying amount of a long-lived asset or asset group exceeds its fair value and is recorded as a reduction in the carrying value of the related asset or asset group and a charge to operating results. No impairment of long-lived assets has occurred during the years ended September 30, 2015, 2014 and 2013. Income Taxes: In accounting for uncertainty in income taxes, we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. As of September 30, 2015, the Company does not have any unrecognized tax benefits. The Company recognizes interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. We do not expect any material changes in our unrecognized tax benefits over the next 12 months. Stock-Based Compensation The expected terms of the options are based on evaluations of historical and expected future employee exercise behavior. The risk-free interest rate is based on the U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life at grant date. Volatility is based on historical and expected future volatility of the Company’s stock. The Company has not historically issued any dividends and does not expect to in the future. Forfeitures for both option and restricted stock grants are estimated at the time of the grant and revised in subsequent periods if actual forfeitures differ from estimates. If factors change and we employ different assumptions in the determination of the fair value of grants in future periods, the related compensation expense that we record may differ significantly from what we have recorded in the current periods. Net Income Per Share: Year ended September 30, 2015 2014 2013 Net income $ 4,682,008 $ 5,432,851 $ 4,733,844 Weighted average common shares 13,216,010 12,916,273 12,527,153 Dilutive potential common shares 371,522 685,321 551,786 Weighted average dilutive common shares outstanding 13,587,532 13,601,594 13,078,939 Earnings per share: Basic $ 0.35 $ 0.42 $ 0.38 Diluted $ 0.34 $ 0.40 $ 0.36 There were no potentially dilutive shares excluded from the calculation above for the years ended September 30, 2015, 2014 and 2013. Use of Estimates: Recently Issued Accounting Pronouncements: In May 2014, the Financial Accounting Standards Board (“FASB”) issued guidance creating Accounting Standards Codification (“ASC”) Section 606, “Revenue from Contracts with Customers”. The new section will replace Section 605, “Revenue Recognition” and creates modifications to various other revenue accounting standards for specialized transactions and industries. The section is intended to conform revenue accounting principles with a concurrently issued International Financial Reporting Standards with previously differing treatment between United States practice and those of much of the rest of the world, as well as, to enhance disclosures related to disaggregated revenue information. The updated guidance is effective for annual reporting periods beginning after December 15, 2017, and interim periods within that reporting period. Early application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The Company will further study the implications of this statement in order to evaluate the expected impact on its financial statements. In July 2015, the FASB issued Accounting Standards Update (“ASU”) 2015-11, Inventory (Topic 330) Related to Simplifying the Measurement of Inventory

Note B - Commitments and Facili

Note B - Commitments and Facilities	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	NOTE B – COMMITMENTS AND FACILITIES Operating Leases: As of September 30, 2015, the future minimum lease payments required under operating lease agreements are as follows: Year ending September 30 Operating leases 2016 $ 433,189 2017 364,300 2018 373,409 2019 382,746 2020 392,318 Thereafter 1,852,117 Total minimum lease payments $ 3,798,079 Share Repurchase:

Note C - Shareholders' Equity

Note C - Shareholders' Equity	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE C – SHAREHOLDERS’ EQUITY The Board of Directors may, by resolution, establish from the undesignated shares different classes or series of shares and may fix the relative rights and preferences of shares in any class or series. The Company is authorized to issue 500 shares of preferred stock and 50,000,000 shares of common stock at $.01 par value. The Company has not issued any shares of preferred stock. Stock-Based Compensation: Stock Options: The Company has two equity compensation plans which are used as an incentive for directors, officers, and other employees. The director’s plan was terminated in February of 2010 and 67,500 authorized but unissued shares were removed from the plan. Options are generally granted at fair market values determined on the date of grant and vesting normally occurs over a three to five-year period. The maximum contractual term is normally six years. However, options granted to directors have a one year vesting period and a six year contractual term. Shares issued upon exercise of a stock option are new shares. The employee plan has 354,114 shares available for issue as of September 30, 2015. As of September 30, 2015, $4,232,496 of total unrecognized compensation expense related to non-vested awards is expected to be recognized over a period of approximately 9.1 years. The number of options vested during the year ended September 30, 2015 was 59,090 with a total grant date fair value of $373,271 and a weighted average grant date fair value of $6.32. The Company recorded related compensation expense for the years ended September 30, 2015, 2014, and 2013 of $1,074,727, $794,865, and $753,727, respectively. For the year ended September 30, 2015, there were 56,767 stock options that were exercised using a cashless method of exercise. The intrinsic value of options exercised during the years ended September 30, 2015 and 2014 was $876,841 and $7,522,553, respectively. The intrinsic value of options exercisable as of September 30, 2015 is $2,420,521. Option transactions under these plans during the years ended September 30, 2015 and 2014 are summarized as follows: Number of Weighted average exercise price Weighted Outstanding at September 30, 2013 863,519 $ 3.24 Granted - - - Cancelled or Forfeited (2,450 ) 4.43 Exercised (488,018 ) 1.94 Outstanding at September 30, 2014 373,051 4.93 Granted - - - Cancelled or Forfeited (2,500 ) 6.36 Exercised (73,167 ) 3.43 Outstanding at September 30, 2015 297,384 $ 5.29 The following table summarizes information concerning options exercisable under the equity compensation plans: Year ended Exercisable Weighted average Weighted average September 30, 2015 297,384 1.57 $ 5.29 September 30, 2014 313,851 2.63 $ 4.67 The following table summarizes information concerning options currently outstanding at: Year Ended Number Weighted Weighted Aggregate September 30, 2015 297,384 1.57 $ 5.29 $ 2,420,521 September 30, 2014 373,051 2.52 $ 4.93 $ 2,908,849 Restricted Stock: Restricted stock transactions during the years ended September 30, 2015 and 2014 are summarized as follows: Number of Weighted average Unvested shares at September 30, 2013 292,290 $ 5.11 Granted 307,615 13.39 Vested (79,390 ) 5.15 Forfeited (2,000 ) 5.10 Unvested shares at September 30, 2014 518,515 10.02 Granted 7,300 13.69 Vested (101,485 ) 17.07 Forfeited (15,200 ) 10.80 Unvested shares at September 30, 2015 409,130 $ 9.97 The Company repurchased a total of 33,896 shares of our common stock at an average price of $16.89 in connection with payment of taxes upon the vesting of restricted stock previously issued to employees for the year ended September 30, 2015. The Company repurchased a total of 16,560 shares of our common stock at an average price of $13.61 in connection with payment of taxes upon the vesting of restricted stock previously issued to employees for the year ended September 30, 2014. Employee Stock Purchase Plan:

Note D - Income Taxes

Note D - Income Taxes	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE D – INCOME TAXES Realization of net operating loss carry-forward and other deferred tax temporary differences are contingent upon future taxable earnings. The Company’s deferred tax assets were reviewed for expected utilization by assessing the available positive and negative factors surrounding its recoverability. As of September 30, 2014, the Company’s remaining valuation allowance of approximately $848,000 related to state net operating loss carry forwards. During the fourth quarter of 2015, the Company reversed a portion of its remaining valuation allowance primarily related to the expiration of state net operating losses in 2015. The remaining valuation allowance balance as of September 30, 2015 of $659,000 relates entirely to state net operating loss carry forwards we do not expect to utilize. Approximately $35,000 of the valuation allowance is short-term and $624,000 is long-term, against its remaining deferred tax assets. The Company will continue to assess the assumptions used to determine the amount of our valuation allowance and may adjust the valuation allowance in future periods based on changes in assumptions of estimated future income and other factors. If the valuation allowance is reduced, we would record an income tax benefit in the period the valuation allowance is reduced. If the valuation allowance is increased, we would record additional income tax expense. The valuation allowance activity for the years ended September 30, 2015, 2014 and 2013 is as follows: Year Ended Balance at Income Tax Reversal Balance at September 30, 2015 $ 847,826 $ (53,836 ) $ (135,182 ) $ 658,808 September 30, 2014 975,258 - (127,432 ) 847,826 September 30, 2013 975,258 - - 975,258 Significant components of deferred income tax assets and liabilities are as follows at: September 30, September 30, Current deferred income tax assets (liabilities): Inventories $ 309,791 $ 292,675 Accrued expenses and reserves 261,452 297,336 Prepaid expenses (42,304 ) (42,722 ) Net operating loss carry forwards and credits 652,533 1,752,291 1,181,472 2,299,580 Valuation allowance (34,573 ) (50,145 ) Net current deferred tax asset $ 1,146,899 $ 2,249,435 Long-term deferred income tax assets (liabilities): Intangibles $ (39,819 ) $ (30,028 ) Property and equipment depreciation (726,035 ) 18,091 Net operating loss carry forwards and credits 938,168 1,531,315 Stock-based compensation 49,926 57,573 Accrued expenses and reserves 25,887 3,369 Goodwill (706,779 ) (626,018 ) (458,652 ) 954,302 Valuation allowance (624,235 ) (797,680 ) Net long-term deferred tax (liability) asset $ (1,082,887 ) $ 156,622 As of September 30, 2015 and 2014, the current income tax receivable was approximately $48,000 and $127,000, respectively. As of September 30, 2015, t he Company had U.S. federal net operating loss (“NOL”) carry forwards of approximately $5.4 million. The U.S. federal net operating loss carry forwards will expire in 2023 through 2028 if not utilized. he Company had state net operating loss carry forwards of approximately $13.8 million. The state net operating loss carry forwards will expire in 2016 through 2022 if not utilized. The Company completed an Internal Revenue Code Section 382 analysis of the loss carry forwards in 2009 and determined then that all of the Company’s loss carry forwards are utilizable and not restricted under Section 382. The Company has not updated its Section 382 analysis subsequent to 2009 and does not believe there have been any events subsequent to 2009 that would impact the analysis. Deferred tax assets relating to equity compensation have been reduced to reflect tax deductions in excess of previously recorded tax benefits through the year ended September 30, 2015. Our federal NOL carry forwards referenced above at September 30, 2015 include approximately $5.3 million of income tax deductions in excess of previously recorded tax benefits for equity based awards. Although the additional tax deductions are reflected in NOL carry forwards referenced above, the related tax benefit will not be recognized until the deductions reduce taxes payable. Accordingly, since the tax benefit does not reduce the Company’s current taxes payable in 2015, these tax benefits are not reflected in the Company’s deferred tax assets presented above. The tax benefit of approximately $1,869,000 as of September 30, 2015 related to these excess deductions will be reflected as a credit to additional paid-in capital when recognized. The following is a reconciliation of the federal statutory income tax rate to the consolidated effective tax rate as a percent of pre-tax income for the following years ended: September 30, September 30, September 30, Federal statutory rate 34 % 34 % 34 % State income taxes 1 % 1 % 1 % Permanent differences 1 % 2 % 2 % Change in valuation allowance (3 %) (1 %) - Expiration of state NOL’s 2 % 1 % - Tax rate 35 % 37 % 37 % Components of the income tax expense are as follows for the years ended: September 30, September 30, September 30, Current: Federal $ 67,373 $ 115,049 $ 180,706 State 65,820 46,303 58,421 133,193 161,352 239,127 Deferred: Federal 2,377,590 2,903,110 2,455,015 State (35,545 ) 116,516 109,030 2,342,045 3,019,626 2,564,045 Income tax expense $ 2,475,238 $ 3,180,978 $ 2,803,172 The Company is required to recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not The Company is subject to income taxes in the U.S. federal jurisdiction, and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. With few exceptions, the Company is no longer subject to U.S. federal, state and local, income tax examinations by tax authorities for fiscal years ending prior to 2000. We are generally subject to U.S. federal and state tax examinations for all tax years since 1999 due to our net operating loss carryforwards and the utilization of the carryforwards in years still open under statute. The Company changed its fiscal year end in 2007 from March 31 to September 30.

Note E - Major Customer Concent

Note E - Major Customer Concentration	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE E – CONCENTRATIONS Suppliers: Customers: The following table summarizes customers comprising 10% or more of net sales for the years ended September 30, 2015, 2014, and 2013: Year Ended September 30, 2015 2014 2013 Customer A 25 % 19 % 19 % Customer B * 21 % 23 % * Less than 10% As of September 30, 2015, Customers C and A accounted for 17% and 14% of accounts receivable, respectively. As of September 30, 2014, Customer C accounted for 10% of accounts receivable.

Note F - Employee Benefit Plan

Note F - Employee Benefit Plan	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	NOTE F – EMPLOYEE BENEFIT PLAN The Company maintains a contributory 401(k) profit sharing benefit plan, whereby eligible employees may contribute a portion of their earnings, not to exceed annual amounts allowed under the Internal Revenue Code. For the years ended September 30, 2014 and 2013 and through December 31, 2014, the Company matched 100% of the first 3% and 50% of the next 2% of the participant’s eligible compensation that was contributed by the participant. Effective January 1, 2015, the Company matched 100% of the first 3% and 50% of the next 3% of the participant’s eligible compensation that was contributed by the participant. The Company’s contributions under this plan were $460,868, $379,630 and $290,652 for the years ended September 30, 2015, 2014 and 2013, respectively .

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition:
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents: The Company maintains cash balances at several financial institutions, and at times, such balances exceed insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents.
Investment, Policy [Policy Text Block]	Investments: September 30, September 30, Less than one year $ 7,925,000 $ 6,632,000 1-3 years 8,290,000 8,302,000 Total $ 16,215,000 $ 14,934,000
Receivables, Policy [Policy Text Block]	Accounts Receivable: The allowance for doubtful accounts activity for the years ended September 30, 2015, 2014 and 2013 is as follows: Year Ended Balance at Additions Less Balance September 30, 2015 $ 97,950 $ - $ (18,477 ) $ 79,473 September 30, 2014 97,950 - - 97,950 September 30, 2013 97,950 - - 97,950
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments:
Inventory, Policy [Policy Text Block]	Inventories: September 30, September 30, Raw materials $ 4,811,993 $ 3,729,160 Work-in-process 310,149 292,557 Finished goods 2,060,712 1,368,625 $ 7,182,854 $ 5,390,342 Inventory is stated at the lower of cost or market. On a regular basis, the Company reviews its inventory and identifies that which is excess, slow moving, and obsolete by considering factors such as inventory levels, expected product life, and forecasted sales demand. Any identified excess, slow moving, and obsolete inventory is written down to its market value through a charge to cost of sales. It is possible that additional inventory write-down charges may be required in the future if there is a significant decline in demand for the Company’s products and the Company does not adjust its manufacturing production accordingly.
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment: Years Equipment 3 - 7 Leasehold improvements 7 - 10 or life of lease Vehicles 3 Property, plant and equipment consist of the following: September 30, September 30, Manufacturing Equipment $ 4,102,868 $ 3,057,665 Office Equipment 2,655,088 1,985,409 Leasehold Improvements 2,414,133 320,218 Vehicles 193,702 192,321 9,365,791 5,555,613 Less accumulated depreciation 3,676,118 3,093,363 $ 5,689,673 $ 2,462,250 Depreciation expense for the years ended September 30, 2015, 2014 and 2013 were $1,214,512, $699,306 and $475,524, respectively.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill and Patents: A significant reduction in our market capitalization or in the carrying amount of net assets of a reporting unit could result in an impairment charge. If the carrying amount of a reporting unit exceeds its fair value, the Company would measure the possible goodwill impairment loss based on an allocation of the estimate of fair value of the reporting unit to all of the underlying assets and liabilities of the reporting unit, including any previously unrecognized intangible assets. The excess of the fair value of a reporting unit over the amounts assigned to its assets and liabilities is the implied fair value of goodwill. An impairment loss is recognized to the extent that a reporting unit's recorded goodwill exceeds the implied fair value of goodwill. An impairment loss would be based on significant estimates and judgments, and if the facts and circumstances change, a potential impairment could have a material impact on the Company’s financial statements. No impairment of goodwill has occurred during the years ended September 30, 2015, 2014 or 2013, respectively. 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 20 years. As of September 30, 2015, the Company has five patents granted and five pending applications inside the United States.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets: Any required impairment loss is measured as the amount by which the carrying amount of a long-lived asset or asset group exceeds its fair value and is recorded as a reduction in the carrying value of the related asset or asset group and a charge to operating results. No impairment of long-lived assets has occurred during the years ended September 30, 2015, 2014 and 2013.
Income Tax, Policy [Policy Text Block]	Income Taxes: In accounting for uncertainty in income taxes, we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. As of September 30, 2015, the Company does not have any unrecognized tax benefits. The Company recognizes interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. We do not expect any material changes in our unrecognized tax benefits over the next 12 months.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation The expected terms of the options are based on evaluations of historical and expected future employee exercise behavior. The risk-free interest rate is based on the U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life at grant date. Volatility is based on historical and expected future volatility of the Company’s stock. The Company has not historically issued any dividends and does not expect to in the future. Forfeitures for both option and restricted stock grants are estimated at the time of the grant and revised in subsequent periods if actual forfeitures differ from estimates. If factors change and we employ different assumptions in the determination of the fair value of grants in future periods, the related compensation expense that we record may differ significantly from what we have recorded in the current periods.
Earnings Per Share, Policy [Policy Text Block]	Net Income Per Share: Year ended September 30, 2015 2014 2013 Net income $ 4,682,008 $ 5,432,851 $ 4,733,844 Weighted average common shares 13,216,010 12,916,273 12,527,153 Dilutive potential common shares 371,522 685,321 551,786 Weighted average dilutive common shares outstanding 13,587,532 13,601,594 13,078,939 Earnings per share: Basic $ 0.35 $ 0.42 $ 0.38 Diluted $ 0.34 $ 0.40 $ 0.36 There were no potentially dilutive shares excluded from the calculation above for the years ended September 30, 2015, 2014 and 2013.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates:
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements: In May 2014, the Financial Accounting Standards Board (“FASB”) issued guidance creating Accounting Standards Codification (“ASC”) Section 606, “Revenue from Contracts with Customers”. The new section will replace Section 605, “Revenue Recognition” and creates modifications to various other revenue accounting standards for specialized transactions and industries. The section is intended to conform revenue accounting principles with a concurrently issued International Financial Reporting Standards with previously differing treatment between United States practice and those of much of the rest of the world, as well as, to enhance disclosures related to disaggregated revenue information. The updated guidance is effective for annual reporting periods beginning after December 15, 2017, and interim periods within that reporting period. Early application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The Company will further study the implications of this statement in order to evaluate the expected impact on its financial statements. In July 2015, the FASB issued Accounting Standards Update (“ASU”) 2015-11, Inventory (Topic 330) Related to Simplifying the Measurement of Inventory

Note A - Summary of Significa14

Note A - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Sep. 30, 2015
Useful Lives [Member]
Notes Tables
Property, Plant and Equipment [Table Text Block]	Years Equipment 3 - 7 Leasehold improvements 7 - 10 or life of lease Vehicles 3
Investments Classified by Contractual Maturity Date [Table Text Block]	September 30, September 30, Less than one year $ 7,925,000 $ 6,632,000 1-3 years 8,290,000 8,302,000 Total $ 16,215,000 $ 14,934,000
Allowance for Credit Losses on Financing Receivables [Table Text Block]	Year Ended Balance at Additions Less Balance September 30, 2015 $ 97,950 $ - $ (18,477 ) $ 79,473 September 30, 2014 97,950 - - 97,950 September 30, 2013 97,950 - - 97,950
Schedule of Inventory, Current [Table Text Block]	September 30, September 30, Raw materials $ 4,811,993 $ 3,729,160 Work-in-process 310,149 292,557 Finished goods 2,060,712 1,368,625 $ 7,182,854 $ 5,390,342
Property, Plant and Equipment [Table Text Block]	September 30, September 30, Manufacturing Equipment $ 4,102,868 $ 3,057,665 Office Equipment 2,655,088 1,985,409 Leasehold Improvements 2,414,133 320,218 Vehicles 193,702 192,321 9,365,791 5,555,613 Less accumulated depreciation 3,676,118 3,093,363 $ 5,689,673 $ 2,462,250
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year ended September 30, 2015 2014 2013 Net income $ 4,682,008 $ 5,432,851 $ 4,733,844 Weighted average common shares 13,216,010 12,916,273 12,527,153 Dilutive potential common shares 371,522 685,321 551,786 Weighted average dilutive common shares outstanding 13,587,532 13,601,594 13,078,939 Earnings per share: Basic $ 0.35 $ 0.42 $ 0.38 Diluted $ 0.34 $ 0.40 $ 0.36

Note B - Commitments and Faci15

Note B - Commitments and Facilities (Tables)	12 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]	Year ending September 30 Operating leases 2016 $ 433,189 2017 364,300 2018 373,409 2019 382,746 2020 392,318 Thereafter 1,852,117 Total minimum lease payments $ 3,798,079

Note C - Shareholders' Equity (

Note C - Shareholders' Equity (Tables)	12 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Number of Weighted average exercise price Weighted Outstanding at September 30, 2013 863,519 $ 3.24 Granted - - - Cancelled or Forfeited (2,450 ) 4.43 Exercised (488,018 ) 1.94 Outstanding at September 30, 2014 373,051 4.93 Granted - - - Cancelled or Forfeited (2,500 ) 6.36 Exercised (73,167 ) 3.43 Outstanding at September 30, 2015 297,384 $ 5.29
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable [Table Text Block]	Year ended Exercisable Weighted average Weighted average September 30, 2015 297,384 1.57 $ 5.29 September 30, 2014 313,851 2.63 $ 4.67
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block]	Year Ended Number Weighted Weighted Aggregate September 30, 2015 297,384 1.57 $ 5.29 $ 2,420,521 September 30, 2014 373,051 2.52 $ 4.93 $ 2,908,849
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Number of Weighted average Unvested shares at September 30, 2013 292,290 $ 5.11 Granted 307,615 13.39 Vested (79,390 ) 5.15 Forfeited (2,000 ) 5.10 Unvested shares at September 30, 2014 518,515 10.02 Granted 7,300 13.69 Vested (101,485 ) 17.07 Forfeited (15,200 ) 10.80 Unvested shares at September 30, 2015 409,130 $ 9.97

Note D - Income Taxes (Tables)

Note D - Income Taxes (Tables)	12 Months Ended
	Sep. 30, 2015
Notes Tables
Summary of Valuation Allowance [Table Text Block]	Year Ended Balance at Income Tax Reversal Balance at September 30, 2015 $ 847,826 $ (53,836 ) $ (135,182 ) $ 658,808 September 30, 2014 975,258 - (127,432 ) 847,826 September 30, 2013 975,258 - - 975,258
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	September 30, September 30, Current deferred income tax assets (liabilities): Inventories $ 309,791 $ 292,675 Accrued expenses and reserves 261,452 297,336 Prepaid expenses (42,304 ) (42,722 ) Net operating loss carry forwards and credits 652,533 1,752,291 1,181,472 2,299,580 Valuation allowance (34,573 ) (50,145 ) Net current deferred tax asset $ 1,146,899 $ 2,249,435 Long-term deferred income tax assets (liabilities): Intangibles $ (39,819 ) $ (30,028 ) Property and equipment depreciation (726,035 ) 18,091 Net operating loss carry forwards and credits 938,168 1,531,315 Stock-based compensation 49,926 57,573 Accrued expenses and reserves 25,887 3,369 Goodwill (706,779 ) (626,018 ) (458,652 ) 954,302 Valuation allowance (624,235 ) (797,680 ) Net long-term deferred tax (liability) asset $ (1,082,887 ) $ 156,622
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	September 30, September 30, September 30, Federal statutory rate 34 % 34 % 34 % State income taxes 1 % 1 % 1 % Permanent differences 1 % 2 % 2 % Change in valuation allowance (3 %) (1 %) - Expiration of state NOL’s 2 % 1 % - Tax rate 35 % 37 % 37 %
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	September 30, September 30, September 30, Current: Federal $ 67,373 $ 115,049 $ 180,706 State 65,820 46,303 58,421 133,193 161,352 239,127 Deferred: Federal 2,377,590 2,903,110 2,455,015 State (35,545 ) 116,516 109,030 2,342,045 3,019,626 2,564,045 Income tax expense $ 2,475,238 $ 3,180,978 $ 2,803,172

Note E - Major Customer Conce18

Note E - Major Customer Concentration (Tables)	12 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]	Year Ended September 30, 2015 2014 2013 Customer A 25 % 19 % 19 % Customer B * 21 % 23 %

Note A - Summary of Significa19

Note A - Summary of Significant Accounting Policies (Details Textual)	12 Months Ended
	Sep. 30, 2015USD ($)shares	Sep. 30, 2014USD ($)shares	Sep. 30, 2013USD ($)shares
Maximum [Member] | Patents [Member]
Finite-Lived Intangible Asset, Useful Life	20 years
Goodwill, Impairment Loss	$ 0	$ 0	$ 0
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares	0	0	0
Impairment of Long-Lived Assets Held-for-use	$ 0	$ 0	$ 0
Unrecognized Tax Benefits	0	0	0
Depreciation	$ 1,214,512	$ 699,306	$ 475,524
Number of Reportable Segments	1
Number of Patents Granted	5
Number of Patents Pending	5

Note A - Maturity Date of CDs (

Note A - Maturity Date of CDs (Details) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Less than one year	$ 7,925,000	$ 6,632,000
1-3 years	8,290,000	8,302,000
Total	$ 16,215,000	$ 14,934,000

Note A - Allowance for Doubtful

Note A - Allowance for Doubtful Accounts (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Balance at Beginning of Year	$ 97,950	$ 97,950	$ 97,950
Additions Charged to Costs and Expenses
Less Write-offs	$ (18,477)
Balance at End of Year	$ 79,473	$ 97,950	$ 97,950

Note A - Components of Inventor

Note A - Components of Inventory (Details) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Raw materials	$ 4,811,993	$ 3,729,160
Work-in-process	310,149	292,557
Finished goods	2,060,712	1,368,625
Total	$ 7,182,854	$ 5,390,342

Note A - Estimated Useful Lives

Note A - Estimated Useful Lives of Assets (Details)	12 Months Ended
	Sep. 30, 2015
Equipment [Member] | Minimum [Member]
Property, plant and equipment useful life	3 years
Equipment [Member] | Maximum [Member]
Property, plant and equipment useful life	7 years
Leasehold Improvements [Member] | Minimum [Member]
Property, plant and equipment useful life	7 years
Leasehold Improvements [Member] | Maximum [Member]
Property, plant and equipment useful life	10 years
Vehicles [Member]
Property, plant and equipment useful life	3 years

Note A - Property, Plant and Eq

Note A - Property, Plant and Equipment (Details) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Machinery and Equipment [Member]
Fixed Assets	$ 4,102,868	$ 3,057,665
Office Equipment [Member]
Fixed Assets	2,655,088	1,985,409
Leasehold Improvements [Member]
Fixed Assets	2,414,133	320,218
Vehicles [Member]
Fixed Assets	193,702	192,321
Fixed Assets	9,365,791	5,555,613
Less accumulated depreciation	3,676,118	3,093,363
Net	$ 5,689,673	$ 2,462,250

Note A - Weighted Average Commo

Note A - Weighted Average Common Shares Outstanding (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Net income	$ 4,682,008	$ 5,432,851	$ 4,733,844
Weighted average common shares (in shares)	13,216,010	12,916,273	12,527,153
Dilutive potential common shares	$ 371,522	$ 685,321	$ 551,786
Weighted average dilutive common shares outstanding (in shares)	13,587,532	13,601,594	13,078,939
Earnings per share:
Basic (in dollars per share)	$ 0.35	$ 0.42	$ 0.38
Diluted (in dollars per share)	$ 0.34	$ 0.40	$ 0.36

Note B - Commitments and Faci26

Note B - Commitments and Facilities (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013	Nov. 13, 2014
Operating Leases, Rent Expense	$ 630,000	$ 505,000	$ 450,000
Stock Repurchase Program, Authorized Amount				$ 8,000,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 7,151,000

Note B - Future Minimum Lease P

Note B - Future Minimum Lease Payments (Details)	Sep. 30, 2015USD ($)
2,016	$ 433,189
2,017	364,300
2,018	373,409
2,019	382,746
2,020	392,318
Thereafter	1,852,117
Total minimum lease payments	$ 3,798,079

Note C - Shareholders' Equity28

Note C - Shareholders' Equity (Details Textual) - USD ($)	3 Months Ended	6 Months Ended				12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2014	Sep. 30, 2013	Feb. 28, 2010
Minimum [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						3 years
Minimum [Member] | Restricted Stock [Member] | Non Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						1 year
Maximum [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						5 years
Maximum [Member] | Restricted Stock [Member] | Non Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						10 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term						6 years
Employee Stock Option [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						1 year
Cashless Method Stock Option Exercised [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period						56,767
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term						6 years
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		165,440					165,440
Share-based Compensation Arrangement by Share-based Payment Award, Market Price Percentage, Offering Date						85.00%
Stock Issued During Period, Shares, Employee Stock Purchase Plans		10,119	10,097	6,669	10,920
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price				$ 14.27	$ 8.28		$ 10.46
Payments Related to Tax Withholding for Share-based Compensation	$ 62,358
Preferred Stock, Value, Issued	$ 0					$ 0		$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross						0		0	0
Preferred Stock, Shares Authorized	500					500		500
Common Stock, Shares Authorized	50,000,000					50,000,000		50,000,000
Common Stock, Par or Stated Value Per Share	$ 0.01					$ 0.01		$ 0.01
Temporary Equity, Shares Subscribed but Unissued										67,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term						1 year 208 days		2 years 229 days
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	354,114					354,114
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 4,232,496					$ 4,232,496
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition						9 years 36 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number	59,090					59,090
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value						$ 373,271
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price	$ 6.32					$ 6.32
Allocated Share-based Compensation Expense						$ 1,074,727		$ 794,865	$ 753,727
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period						73,167		488,018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value						$ 876,841		$ 7,522,553
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 2,420,521					$ 2,420,521
Stock Repurchased During Period, Shares						33,896		16,560
Treasury Stock Acquired, Average Cost Per Share						$ 16.89		$ 13.61
Payments Related to Tax Withholding for Share-based Compensation						$ 639,307		$ 399,629	$ 297,988

Note C - Option Transaction Sum

Note C - Option Transaction Summary (Details) - $ / shares	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Outstanding (in shares)	373,051	863,519
Weighted Average Exercise Price, Outstanding (in dollars per share)	$ 4.93	$ 3.24
Cancelled or Forfeited (in shares)	(2,500)	(2,450)
Weighted Average Exercise Price, Cancelled or Forfeited (in dollars per share)	$ 6.36	$ 4.43
Exercised (in shares)	(73,167)	(488,018)
Weighted Average Exercise Price, Exercised (in dollars per share)	$ 3.43	$ 1.94
Outstanding (in shares)	297,384	373,051
Weighted Average Exercise Price, Outstanding (in dollars per share)	$ 5.29	$ 4.93

Note C - Options Exercisable (D

Note C - Options Exercisable (Details) - $ / shares	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
September 30, 2015 (in shares)	297,384	313,851
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	1 year 208 days	2 years 229 days
September 30, 2015 (in dollars per share)	$ 5.29	$ 4.67

Note C - Options Currently Outs

Note C - Options Currently Outstanding (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
September 30, 2015 (in shares)	297,384	373,051
September 30, 2015	1 year 208 days	2 years 189 days
September 30, 2015 (in dollars per share)	$ 5.29	$ 4.93
September 30, 2015	$ 2,420,521	$ 2,908,849

Note C - Restricted Stock Trans

Note C - Restricted Stock Transactions (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Unvested shares at September 30, 2013 (in shares)	518,515	292,290
Unvested shares at September 30, 2013 (in dollars per share)	$ 10.02	$ 5.11
Granted (in shares)	7,300	307,615
Granted (in dollars per share)	$ 13.69	$ 13.39
Vested (in shares)	(101,485)	(79,390)
Vested (in dollars per share)	$ 17.07	$ 5.15
Forfeited (in shares)	(15,200)	(2,000)
Forfeited (in dollars per share)	$ 10.80	$ 5.10
Unvested shares at September 30, 2014 (in shares)	409,130	518,515
Unvested shares at September 30, 2014 (in dollars per share)	$ 9.97	$ 10.02

Note D - Income Taxes (Details

Note D - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2012
State and Local Jurisdiction [Member] | Valuation Allowance, Operating Loss Carryforwards [Member]
Deferred Tax Assets, Valuation Allowance		$ 659,000
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Valuation Allowance		848,000
Operating Loss Carryforwards	$ 13,800,000
Domestic Tax Authority [Member]
Operating Loss Carryforwards	5,400,000
Equity Compensation [Member]
Operating Loss Carryforwards	5,300,000
Unrecognized Tax Benefits	0	0	$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	0	0	0
Deferred Tax Assets, Valuation Allowance	658,808	847,826	$ 975,258	$ 975,258
Deferred Tax Assets, Valuation Allowance, Current		35,000
Deferred Tax Assets, Valuation Allowance, Noncurrent		624,000
Income Taxes Receivable, Current	48,000	$ 127,000
Excess Tax Benefit from Share-based Compensation, Operating Activities	$ 1,869,000

Note D - Valuation Allowance Ac

Note D - Valuation Allowance Activity (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Balance at Beginning of Year	$ 847,826	$ 975,258	$ 975,258
Income Tax Benefit	(53,836)
Reversal for State NOL Expiration	(135,182)	$ (127,432)
Balance at End of Year	$ 658,808	$ 847,826	$ 975,258

Note D - Significant Components

Note D - Significant Components of Deferred Income Tax Assets and Liabilities (Details) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Short Term [Member]
Current deferred income tax assets (liabilities):
Inventories	$ 309,791	$ 292,675
Accrued expenses and reserves	261,452	297,336
Prepaid expenses	(42,304)	(42,722)
Net operating loss carry forwards and credits	652,533	1,752,291
	1,181,472	2,299,580
Valuation allowance	(34,573)	(50,145)
Net current deferred tax asset	1,146,899	2,249,435
Long-term [Member]
Current deferred income tax assets (liabilities):
Accrued expenses and reserves	25,887	3,369
Net operating loss carry forwards and credits	938,168	1,531,315
	(458,652)	954,302
Intangibles	(39,819)	(30,028)
Property and equipment depreciation	(726,035)	18,091
Stock-based compensation	49,926	57,573
Goodwill	(706,779)	(626,018)
Valuation allowance	(624,235)	(797,680)
Net long-term deferred tax (liability) asset	(1,082,887)	156,622
Valuation allowance		(35,000)
Net current deferred tax asset	$ 1,146,899	2,249,435
Valuation allowance		$ (624,000)

Note D - Reconciliation of the

Note D - Reconciliation of the Federal Statutory Income Tax Rate (Details)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Federal statutory rate	34.00%	34.00%	34.00%
State income taxes	1.00%	1.00%	1.00%
Permanent differences	1.00%	2.00%	2.00%
Change in valuation allowance	(3.00%)	(1.00%)
Expiration of state NOL’s	2.00%	1.00%
Tax rate	35.00%	37.00%	37.00%

Note D - Income Tax Expense (Be

Note D - Income Tax Expense (Benefit) Components (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Current:
Federal	$ 67,373	$ 115,049	$ 180,706
State	65,820	46,303	58,421
	133,193	161,352	239,127
Deferred:
Federal	2,377,590	2,903,110	2,455,015
State	(35,545)	116,516	109,030
	2,342,045	3,019,626	2,564,045
Income tax expense	$ 2,475,238	$ 3,180,978	$ 2,803,172

Note E - Major Customer Conce38

Note E - Major Customer Concentration (Details Textual) - Customer Concentration Risk [Member] - Accounts Receivable [Member]	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Customer C [Member]
Concentration Risk, Percentage	17.00%	10.00%
Customer A [Member]
Concentration Risk, Percentage	14.00%

Note E - Major Customer Conce39

Note E - Major Customer Concentrations - Major Customers (Details) - Sales [Member] - Customer Concentration Risk [Member]	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Customer A [Member]
Concentration Risk, Percentage	25.00%	19.00%	19.00%
Customer B [Member]
Concentration Risk, Percentage		21.00%	23.00%

Note F - Employee Benefit Plan

Note F - Employee Benefit Plan (Details Textual) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
First Level of Matching [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	100.00%	100.00%		100.00%	100.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	3.00%	3.00%		3.00%	3.00%
Second Level Of Matching [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	50.00%	50.00%		50.00%	50.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	2.00%	3.00%		2.00%	2.00%
Defined Contribution Plan, Employer Discretionary Contribution Amount			$ 290,652	$ 379,630	$ 460,868