Clearfield (CLFD) 10-K 15 Nov 17 2017 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Sep. 30, 2017	Nov. 08, 2017	Mar. 31, 2017
Document Information [Line Items]
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)		13,811,455
Entity Public Float			$ 189,907,864
Document Type	10-K
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Amendment Flag	false

Balance Sheets

Balance Sheets - USD ($)	Sep. 30, 2017	Sep. 30, 2016
Current Assets
Cash and cash equivalents	$ 18,536,111	$ 28,014,321
Short-term investments	5,937,150	5,527,075
Accounts receivable, net	7,237,641	7,999,210
Inventories	8,453,567	8,373,155
Other current assets	978,933	1,198,917
Total current assets	41,143,402	51,112,678
Property, plant and equipment, net	5,434,172	5,780,814
Other Assets
Long-term investments	19,816,000	10,703,000
Goodwill	2,570,511	2,570,511
Other	529,952	428,310
Total other assets	22,916,463	13,701,821
Total Assets	69,494,037	70,595,313
Current Liabilities
Accounts payable	1,739,791	2,573,292
Accrued compensation	2,410,026	4,697,138
Accrued expenses	93,304	75,306
Total current liabilities	4,243,121	7,345,736
Other Liabilities
Deferred taxes	444,076	411,779
Deferred rent	281,720	243,755
Total other liabilities	725,796	655,534
Total Liabilities	4,968,917	8,001,270
Commitment and Contingencies
Shareholders’ Equity
Common stock, $ .01 par value; 50,000,000 shares authorized; 13,812,821 and 14,126,279 shares issued and outstanding at September 30, 2017 and 2016, respectively	138,128	141,263
Additional paid-in capital	55,406,888	57,320,515
Retained earnings	8,980,104	5,132,265
Total shareholders’ equity	64,525,120	62,594,043
Total Liabilities and Shareholders’ Equity	69,494,037	70,595,313
Series B Preferred Stock [Member]
Shareholders’ Equity
Preferred stock, $.01 par value; 500,000 shares; no shares issued or outstanding

Balance Sheets (Parentheticals)

Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2017	Sep. 30, 2016
Preferred stock, authorized shares (in shares)	5,000,000
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)	13,812,821	14,126,279
Common stock, shares outstanding (in shares)	13,812,821	14,126,279
Series B Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares (in shares)	500,000	500,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

Statements of Earnings

Statements of Earnings - USD ($)	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015
Net sales	$ 73,947,619	$ 75,287,726	$ 60,323,917
Cost of sales	43,683,360	42,417,478	35,455,964
Gross profit	30,264,259	32,870,248	24,867,953
Operating expenses
Selling, general, and administrative	24,952,376	22,138,556	17,816,598
Income from operations	5,311,883	10,731,692	7,051,355
Interest income	273,930	157,402	105,891
Income before income taxes	5,585,813	10,889,094	7,157,246
Income tax expense	1,737,974	2,876,032	2,475,238
Net income	$ 3,847,839	$ 8,013,062	$ 4,682,008
Net income per share Basic (in dollars per share)	$ 0.28	$ 0.60	$ 0.35
Net income per share Diluted (in dollars per share)	$ 0.28	$ 0.59	$ 0.34
Basic (in shares)	13,532,375	13,372,579	13,216,010
Diluted (in shares)	13,660,806	13,663,349	13,587,532

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, 2014	13,742,964
Balance at Sep. 30, 2014	$ 137,430	$ 56,036,989	$ (9,427,785)	$ 46,746,634
Stock-based compensation expense		1,074,727		1,074,727
Repurchase of common stock (in shares)	(72,089)
Repurchase of common stock	$ (721)	(848,436)		(849,157)
Restricted stock issuance, net (in shares)	(7,900)
Restricted stock issuance, net	$ (79)	79
Employee stock purchase plan (in shares)	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
Stock-based compensation expense		1,404,899		1,404,899
Repurchase of common stock (in shares)	(27,090)
Repurchase of common stock	$ (271)	(333,490)		(333,761)
Restricted stock issuance, net (in shares)	258,266
Restricted stock issuance, net	$ 2,583	(2,583)
Employee stock purchase plan (in shares)	22,318
Employee stock purchase plan	$ 223	254,203		254,426
Exercise of stock options, net of shares exchanged for payment (in shares)	191,853
Exercise of stock options, net of shares exchanged for payment	$ 1,918	546,926		548,844
Tax withholding related to vesting of restricted stock grants and exercise of stock options (in shares)	(24,726)
Tax withholding related to vesting of restricted stock grants and exercise of stock options	$ (247)	(437,290)		(437,537)
Net income			8,013,062	8,013,062
Establishment of deferred tax asset for the adoption of ASU 2016-09			1,864,980	1,864,980
Balance (in shares) at Sep. 30, 2016	14,126,279
Balance at Sep. 30, 2016	$ 141,263	57,320,515	5,132,265	62,594,043
Stock-based compensation expense		2,319,975		2,319,975
Repurchase of common stock (in shares)	(270,124)
Repurchase of common stock	$ (2,701)	(3,644,613)		(3,647,314)
Restricted stock issuance, net (in shares)	(7,809)
Restricted stock issuance, net	$ (78)	78
Employee stock purchase plan (in shares)	25,867
Employee stock purchase plan	$ 258	334,434		334,692
Exercise of stock options, net of shares exchanged for payment (in shares)	14,053
Exercise of stock options, net of shares exchanged for payment	$ 140	28,577		28,717
Tax withholding related to vesting of restricted stock grants and exercise of stock options (in shares)	(75,445)
Tax withholding related to vesting of restricted stock grants and exercise of stock options	$ (754)	(952,078)		(952,832)
Net income			3,847,839	3,847,839
Balance (in shares) at Sep. 30, 2017	13,812,821
Balance at Sep. 30, 2017	$ 138,128	$ 55,406,888	$ 8,980,104	$ 64,525,120

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income	$ 3,847,839	$ 8,013,062	$ 4,682,008
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	1,622,094	1,449,202	1,216,083
Impairment of long-lived assets	643,604	0	0
Deferred income taxes	32,297	2,340,771	2,342,045
Loss on disposal of assets	35,281	12,348	23,196
Stock-based compensation expense	2,319,975	1,404,899	1,074,727
Changes in operating assets and liabilities:
Accounts receivable, net	761,569	(1,988,310)	(983,044)
Inventories	(80,412)	(1,190,301)	(1,792,512)
Other current assets	180,456	(812,811)	121,381
Accounts payable and accrued expenses	(3,064,650)	2,323,891	164,336
Net cash provided by operating activities	6,298,053	11,552,751	6,848,220
Cash flows from investing activities:
Purchases of property, plant and equipment	(1,951,615)	(1,550,128)	(4,518,782)
Purchase of investments	(17,630,075)	(8,138,075)	(10,374,000)
Proceeds from sale of property and equipment	5,100	729	79,936
Patent additions	(69,936)	(77,138)	(24,418)
Sale of investments	8,107,000	8,123,000	9,093,000
Net cash used in investing activities	(11,539,526)	(1,641,612)	(5,744,264)
Cash flows from financing activities:
Repurchase of common stock	(3,647,314)	(333,761)	(849,157)
Proceeds from issuance of common stock under employee stock purchase plan	334,692	254,426	211,459
Proceeds from issuance of common stock	28,717	548,844	43,106
Excess tax benefit from exercise of stock options			9,660
Tax withholding related to vesting of restricted stock grants and exercise of stock options	(952,832)	(437,537)	(639,307)
Net cash (used in) provided by financing activities	(4,236,737)	31,972	(1,224,239)
(Decrease) increase in cash and cash equivalents	(9,478,210)	9,943,111	(120,283)
Cash and cash equivalents at beginning of year	28,014,321	18,071,210	18,191,493
Cash and cash equivalents at end of year	18,536,111	28,014,321	18,071,210
Supplemental cash flow information
Cash paid during the year for income taxes, net of refunds	1,471,203	1,130,930	50,850
Non-cash financing activities
Cashless exercise of stock options	34,268	853,033	207,738
Establishment of deferred tax asset for the adoption of ASU 2016-09		$ 1,864,980

Note A - Summary of Significant

Note A - Summary of Significant Accounting Policies	12 Months Ended
	Sep. 30, 2017
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: three September 30, 2017 2016 The Company maintains cash balances at several financial institutions, and at times, such balances exceed insured limits. The Company has not not Investments: not five three September 30, 2017 September 30, 2016 Less than one year $ 5,937,150 $ 5,527,075 1-5 years 19,816,000 10,703,000 Total $ 25,753,150 $ 16,230,075 Accounts Receivable: not not The allowance for doubtful accounts activity for the years ended September 30, 2017, 2016, 2015 Year Ended Balance at Beginning of Year Additions Charged to Costs and Expenses Less Write-offs Balance at End of Year September 30, 2017 $ 93,473 $ - $ (14,388 ) $ 79,085 September 30, 2016 79,473 25,000 (11,000 ) 93,473 September 30, 2015 97,950 - (18,477 ) 79,473 Fair Value of Financial Instruments: Inventories: first first September 30, September 30, Raw materials $ 5,991,863 $ 5,702,762 Work-in-process 724,248 471,305 Finished goods 1,737,456 2,199,088 Inventories $ 8,453,567 $ 8,373,155 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 not not 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 $ 5,370,962 $ 4,585,422 Office Equipment 3,600,006 3,513,002 Leasehold Improvements 2,404,331 2,422,669 Vehicles 193,702 193,702 Property, plant and equipment, gross 11,569,001 10,714,795 Less accumulated depreciation 6,134,829 4,933,981 Property, plant and equipment, net $ 5,434,172 $ 5,780,814 Depreciation expense for the years ended September 30, 2017, 2016, 2015 $1,614,272, $1,445,910, $1,214,512, Goodwill and Patents: one fourth may not September 30, 2017, 2016, 2015 no September 30, 2017, no 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 September 30, 2017, 2016, 2015, 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 20 September 30, 2017, 11 Impairment of Long-Lived Assets: may not not not 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. During the year ended September 30, 2017, $643,604 No September 30, 2016 2015, Income Taxes: not not 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 not 50 As of both September 30, 2017 September 30, 2016, not not 12 Stock-Based Compensation not 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 not 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 Research and Development Costs $865,568, $838,122, $750,107, 2017, 2016, 2015, Advertising Costs $378,217, $350,399, $284,093, 2017, 2016, 2015, Net Income Per Share: September 30, 2017, 2016, 2015 Year ended September 30, 2017 2016 2015 Net income $ 3,847,839 $ 8,013,062 $ 4,682,008 Weighted average common shares 13,532,375 13,372,579 13,216,010 Dilutive potential common shares 128,431 290,770 371,522 Weighted average dilutive common shares outstanding 13,660,806 13,663,349 13,587,532 Earnings per share: Basic $ 0.28 $ 0.60 $ 0.35 Diluted $ 0.28 $ 0.59 $ 0.34 There were no September 30, 2017, 2016, 2015. Use of Estimates: may Recently Issued Accounting Pronouncements: In May 2014, 606, Revenue from Contracts with Customers 605, December 15, 2017, December 15, 2016, The Company is planning to complete an assessment of its revenue streams during the second third 2018 In July 2015, 2015 11, Inventory (Topic 330 first first first December 15, 2016, not In February 2016, 2016 02, Leases 12 December 15, 2018, In January 2017, 2017 04 2 January 1, 2020, January 1, 2017.

Note B - Commitments and Facili

Note B - Commitments and Facilities	12 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	NOTE B – COMMITMENTS AND FACILITIES Operating Leases: February 2024. September 30, 2017, 2016, 2015, $768,000, $658,000 $630,000 As of September 30, 2017, Year ending September 30 Operating leases 2018 $ 584,249 2019 593,586 2020 568,018 2021 402,123 2022 412,177 Thereafter 1,037,817 Total minimum lease payments $ 3,597,970 Share Repurchase: November 13, 2014, $8 April 25, 2017, $4,000,000 $12,000,000 not September 30, 2017, may $7,169,768

Note C - Shareholders' Equity

Note C - Shareholders' Equity	12 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE C – SHAREHOLDERS’ EQUITY The Company is authorized to issue 50,000,000 $.01 5,000,000 500,000 none may, may Stock-Based Compensation: The Company currently has one 2007 February 2010 67,500 2007 1,103,657 September 30, 2017. September 30, 2017, $5,208,269 7.1 September 30, 2017, 2016, 2015 $2,319,975, $1,404,899, $1,074,727, September 30, 2017, $2,103,621 $216,354 September 30, 2016, $1,272,656 $132,243 September 30, 2015, Stock Options: not September 30, 2017, 2016, 2015. Options are generally granted at fair market values determined on the date of grant and vesting normally occurs over a three five six one six no September 30, 2017 2016, September 30, 2017, 10,500 September 30, 2016, 152,484 September 30, 2017 2016 $237,172 $2,644,220, September 30, 2017 $421,237. Option transactions under the 2007 September 30, 2017 2016 Number of shares Weighted average exercise price Weighted average fair value Outstanding at September 30, 2015 297,384 $ 5.29 Granted - - - Cancelled or Forfeited - - Exercised (242,584 ) 5.78 Outstanding at September 30, 2016 54,800 3.13 Granted - - - Cancelled or Forfeited - - Exercised (15,850 ) 3.97 Outstanding at September 30, 2017 38,950 $ 2.79 The following table summarizes information concerning options exercisable under the 2007 Year ended Exercisable Weighted average remaining contractual life (years) Weighted average exercise price September 30, 2017 38,950 2.73 $ 2.79 September 30, 2016 54,800 2.83 $ 3.13 The following table summarizes information concerning options currently outstanding at: Year Ended Number outstanding Weighted average remaining contractual life (years) Weighted average exercise price Aggregate intrinsic value September 30, 2017 38,950 2.73 $ 2.79 $ 421,237 September 30, 2016 54,800 2.83 $ 3.13 $ 858,771 Restricted Stock: 2007 one ten Restricted stock transactions during the years ended September 30, 2017 2016 Number of shares Weighted average grant date fair value Unvested shares at September 30, 2015 409,130 $ 9.97 Granted 269,173 17.43 Vested (103,826 ) 7.99 Forfeited (10,907 ) 12.99 Unvested shares at September 30, 2016 563,570 14.26 Granted 3,795 16.45 Vested (185,231 ) 12.30 Forfeited (11,604 ) 14.79 Unvested shares at September 30, 2017 370,530 $ 15.24 The Company repurchased a total of 75,445 $12.63 September 30, 2017. 19,072 $17.97 September 30, 2016. Employee Stock Purchase Plan: 2010 may may no 85% one six July 1 January 1 December 31, 2016 June 30, 2017, 11,144 14,723 $15.21 $11.22 December 31, 2015 June 30, 2016, 10,352 11,966 $11.40 September 30, 2017, $73,542 July 1, 2017. June 30, 2017, 117,255

Note D - Income Taxes

Note D - Income Taxes	12 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE D – INCOME TAXES In March 2016, No. 2016 09, Improvements to Employee Share-Based Payment Accounting first December 15, 2016 September 30, 2016, October 1, 2015. Statements of earnings fourth 2016. $104,134, $54,313, $79,640 December 31, 2015, March 31, 2016, June 30, 2016, 5.2%, 2.5%, 2.3% December 31, 2015, March 31, 2016, June 30, 2016, $0.01 $0.01 December 31, 2015 June 30, 2016, no March 31, 2016. September 30, 2016 $437,096, 13.7% 16.3% $0.03 $0.04, September 30, 2016 $675,183, 6.2% 26.4% $0.05. Statements of cash flows $348,000, $741,000, $1,786,000 three December 31, 2015, six March 31, 2016, nine June 30, 2016, 10 Statements of shareholders’ equity $1,864,980 October 1, 2015. In recording stock-based compensation expense, the new standard allows companies to make a policy election as to whether they will include an estimate of awards expected to be forfeited or whether they will account for forfeitures as they occur. We have elected to include an estimate of forfeitures in the computation of our stock-based compensation expense. As this treatment is consistent with the Company’s previous practice, this election had no The new standard requires that employee taxes paid when an employer withholds shares for tax-withholding purposes be reported as financing activities in the consolidated statements of cash flows. As this treatment is consistent with the Company’s previous practice, this election had no 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, 2016, $322,000 fourth 2017, $163,000 $131,000 2017. $32,000 September 30, 2017 $159,000 not may The valuation allowance activity for the years ended September 30, 2017, 2016, 2015 Year Ended Balance at Beginning of Year Income Tax Benefit Reversal for State NOL Expiration and Utilization Balance at End of Year September 30, 2017 $ 322,404 $ (32,154 ) $ (131,096 ) $ 159,154 September 30, 2016 658,808 (78,044 ) (258,360 ) 322,404 September 30, 2015 847,826 (53,836 ) (135,182 ) 658,808 Significant components of deferred income tax assets and liabilities are as follows at: September 30, September 30, Long-term deferred income tax assets (liabilities): Intangibles $ (90,085 ) $ (67,450 ) Property and equipment depreciation (948,653 ) (815,374 ) Net operating loss carry forwards and credits 551,125 702,113 Stock-based compensation 209,645 221,905 Inventories 503,632 388,292 Prepaid expenses (48,847 ) (44,511 ) Accrued expenses and reserves 404,649 312,227 Goodwill (866,388 ) (786,577 ) Gross long-term deferred tax liability (284,922 ) (89,375 ) Valuation allowance (159,154 ) (322,404 ) Net long-term deferred tax liability $ (444,076 ) $ (411,779 ) As of September 30, 2017 2016, $409,000 $643,000, During the quarter ended December 31, 2015, 2015 17 not As of September 30, 2017, no $6,437,000 2016. 2018 2022 not September 30, 2017, $159,000 $46,000, not not 2030. The Company completed an Internal Revenue Code Section 382 2009 not 382. not 382 2009 not 2009 Under ASU No. 2016 09, not The following is a reconciliation of the federal statutory income tax rate to the 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 %) - 1 % Change in valuation allowance (4 %) (3 %) (3 %) Expiration and utilization of state NOL’s 3 % 2 % 2 % Research and development credits (1 %) (1 %) - Excess tax benefits from stock-based compensation (1 %) (7 %) - Tax rate 31 % 26 % 35 % Components of the income tax expense are as follows for the years ended: September 30, September 30, September 30, Current: Federal $ 1,627,125 $ 428,638 $ 67,373 State 78,552 106,623 65,820 Current income tax expense 1,705,677 535,261 133,193 Deferred: Federal 8,680 2,434,294 2,377,590 State 23,617 (93,523 ) (35,545 ) Deferred income tax expense 32,297 2,340,771 2,342,045 Income tax expense $ 1,737,974 $ 2,876,032 $ 2,475,238 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 not 50 no not September 30, 2017, 2016, 2015. 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 2002. 2001 2007 March 31 September 30.

Note E - Concentrations

Note E - Concentrations	12 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE E – CONCENTRATIONS Suppliers: third may may Customers: The following table summarizes customers comprising 10% September 30, 2017, 2016, 2015: Year Ended September 30, 2017 2016 2015 Customer A 20 % 21 % 25 % Customer B 15 % 16 % * * Less than 10% As of September 30, 2017, 19% September 30, 2016, 18% 12% Long-lived assets: September 30, 2017 2016, $581,396 $376,004,

Note F - Employee Benefit Plan

Note F - Employee Benefit Plan	12 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	NOTE F – EMPLOYEE BENEFIT PLAN The Company maintains a contributory 401 may not September 30, 2014 December 31, 2014, 100% first 3% 50% 2% January 1, 2015, 100% first 3% 50% 3% $652,615, $520,530 $460,868 September 30, 2017, 2016, 2015, .

Note A - Summary of Significa13

Note A - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Sep. 30, 2017
Notes Tables
Investments Classified by Contractual Maturity Date [Table Text Block]	September 30, 2017 September 30, 2016 Less than one year $ 5,937,150 $ 5,527,075 1-5 years 19,816,000 10,703,000 Total $ 25,753,150 $ 16,230,075
Allowance for Credit Losses on Financing Receivables [Table Text Block]	Year Ended Balance at Beginning of Year Additions Charged to Costs and Expenses Less Write-offs Balance at End of Year September 30, 2017 $ 93,473 $ - $ (14,388 ) $ 79,085 September 30, 2016 79,473 25,000 (11,000 ) 93,473 September 30, 2015 97,950 - (18,477 ) 79,473
Schedule of Inventory, Current [Table Text Block]	September 30, September 30, Raw materials $ 5,991,863 $ 5,702,762 Work-in-process 724,248 471,305 Finished goods 1,737,456 2,199,088 Inventories $ 8,453,567 $ 8,373,155
Property, Plant and Equipment [Table Text Block]	September 30, September 30, Manufacturing Equipment $ 5,370,962 $ 4,585,422 Office Equipment 3,600,006 3,513,002 Leasehold Improvements 2,404,331 2,422,669 Vehicles 193,702 193,702 Property, plant and equipment, gross 11,569,001 10,714,795 Less accumulated depreciation 6,134,829 4,933,981 Property, plant and equipment, net $ 5,434,172 $ 5,780,814
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year ended September 30, 2017 2016 2015 Net income $ 3,847,839 $ 8,013,062 $ 4,682,008 Weighted average common shares 13,532,375 13,372,579 13,216,010 Dilutive potential common shares 128,431 290,770 371,522 Weighted average dilutive common shares outstanding 13,660,806 13,663,349 13,587,532 Earnings per share: Basic $ 0.28 $ 0.60 $ 0.35 Diluted $ 0.28 $ 0.59 $ 0.34
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

Note B - Commitments and Faci14

Note B - Commitments and Facilities (Tables)	12 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]	Year ending September 30 Operating leases 2018 $ 584,249 2019 593,586 2020 568,018 2021 402,123 2022 412,177 Thereafter 1,037,817 Total minimum lease payments $ 3,597,970

Note C - Shareholders' Equity (

Note C - Shareholders' Equity (Tables)	12 Months Ended
	Sep. 30, 2017
Notes Tables
Share-based Compensation, Stock Options, Activity [Table Text Block]	Number of shares Weighted average exercise price Weighted average fair value Outstanding at September 30, 2015 297,384 $ 5.29 Granted - - - Cancelled or Forfeited - - Exercised (242,584 ) 5.78 Outstanding at September 30, 2016 54,800 3.13 Granted - - - Cancelled or Forfeited - - Exercised (15,850 ) 3.97 Outstanding at September 30, 2017 38,950 $ 2.79
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable [Table Text Block]	Year ended Exercisable Weighted average remaining contractual life (years) Weighted average exercise price September 30, 2017 38,950 2.73 $ 2.79 September 30, 2016 54,800 2.83 $ 3.13
Share-based Compensation Arrangements by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block]	Year Ended Number outstanding Weighted average remaining contractual life (years) Weighted average exercise price Aggregate intrinsic value September 30, 2017 38,950 2.73 $ 2.79 $ 421,237 September 30, 2016 54,800 2.83 $ 3.13 $ 858,771
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	Number of shares Weighted average grant date fair value Unvested shares at September 30, 2015 409,130 $ 9.97 Granted 269,173 17.43 Vested (103,826 ) 7.99 Forfeited (10,907 ) 12.99 Unvested shares at September 30, 2016 563,570 14.26 Granted 3,795 16.45 Vested (185,231 ) 12.30 Forfeited (11,604 ) 14.79 Unvested shares at September 30, 2017 370,530 $ 15.24

Note D - Income Taxes (Tables)

Note D - Income Taxes (Tables)	12 Months Ended
	Sep. 30, 2017
Notes Tables
Summary of Valuation Allowance [Table Text Block]	Year Ended Balance at Beginning of Year Income Tax Benefit Reversal for State NOL Expiration and Utilization Balance at End of Year September 30, 2017 $ 322,404 $ (32,154 ) $ (131,096 ) $ 159,154 September 30, 2016 658,808 (78,044 ) (258,360 ) 322,404 September 30, 2015 847,826 (53,836 ) (135,182 ) 658,808
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	September 30, September 30, Long-term deferred income tax assets (liabilities): Intangibles $ (90,085 ) $ (67,450 ) Property and equipment depreciation (948,653 ) (815,374 ) Net operating loss carry forwards and credits 551,125 702,113 Stock-based compensation 209,645 221,905 Inventories 503,632 388,292 Prepaid expenses (48,847 ) (44,511 ) Accrued expenses and reserves 404,649 312,227 Goodwill (866,388 ) (786,577 ) Gross long-term deferred tax liability (284,922 ) (89,375 ) Valuation allowance (159,154 ) (322,404 ) Net long-term deferred tax liability $ (444,076 ) $ (411,779 )
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 %) - 1 % Change in valuation allowance (4 %) (3 %) (3 %) Expiration and utilization of state NOL’s 3 % 2 % 2 % Research and development credits (1 %) (1 %) - Excess tax benefits from stock-based compensation (1 %) (7 %) - Tax rate 31 % 26 % 35 %
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	September 30, September 30, September 30, Current: Federal $ 1,627,125 $ 428,638 $ 67,373 State 78,552 106,623 65,820 Current income tax expense 1,705,677 535,261 133,193 Deferred: Federal 8,680 2,434,294 2,377,590 State 23,617 (93,523 ) (35,545 ) Deferred income tax expense 32,297 2,340,771 2,342,045 Income tax expense $ 1,737,974 $ 2,876,032 $ 2,475,238

Note E - Concentrations (Tables

Note E - Concentrations (Tables)	12 Months Ended
	Sep. 30, 2017
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Year Ended September 30, 2017 2016 2015 Customer A 20 % 21 % 25 % Customer B 15 % 16 % *

Note A - Summary of Significa18

Note A - Summary of Significant Accounting Policies (Details Textual) shares in Thousands	12 Months Ended
	Sep. 30, 2017USD ($)shares	Sep. 30, 2016USD ($)shares	Sep. 30, 2015USD ($)shares
Depreciation	$ 1,614,272	$ 1,445,910	$ 1,214,512
Number of Reportable Segments		1
Goodwill, Impairment Loss	$ 0	$ 0	0
Number of Patents Granted	11
Impairment of Long-Lived Assets Held-for-use	$ 643,604	0	0
Unrecognized Tax Benefits	0	0	0
Research and Development Expense	865,568	838,122	750,107
Advertising Expense	$ 378,217	$ 350,399	$ 284,093
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares	0	0	0
Maximum [Member] | Patents [Member]
Finite-Lived Intangible Asset, Useful Life	20 years

Note A - Summary of Significa19

Note A - Summary of Significant Accounting Policies - Maturity Date of CDs (Details) - USD ($)	Sep. 30, 2017	Sep. 30, 2016
Less than one year	$ 5,937,150	$ 5,527,075
1-5 years	19,816,000	10,703,000
Total	$ 25,753,150	$ 16,230,075

Note A - Summary of Significa20

Note A - Summary of Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($)	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015
Balance at Beginning of Year	$ 93,473	$ 79,473	$ 97,950
Additions Charged to Costs and Expenses		25,000
Less Write-offs	(14,388)	(11,000)	(18,477)
Balance at End of Year	$ 79,085	$ 93,473	$ 79,473

Note A - Summary of Significa21

Note A - Summary of Significant Accounting Policies - Components of Inventory (Details) - USD ($)	Sep. 30, 2017	Sep. 30, 2016
Raw materials	$ 5,991,863	$ 5,702,762
Work-in-process	724,248	471,305
Finished goods	1,737,456	2,199,088
Inventories	$ 8,453,567	$ 8,373,155

Note A - Summary of Significa22

Note A - Summary of Significant Accounting Policies - Estimated Useful Lives of Assets (Details)	12 Months Ended
	Sep. 30, 2017
Equipment [Member] | Minimum [Member]
Property, plant and equipment useful life (Year)	3 years
Equipment [Member] | Maximum [Member]
Property, plant and equipment useful life (Year)	7 years
Leasehold Improvements [Member] | Minimum [Member]
Property, plant and equipment useful life (Year)	7 years
Leasehold Improvements [Member] | Maximum [Member]
Property, plant and equipment useful life (Year)	10 years
Vehicles [Member]
Property, plant and equipment useful life (Year)	3 years

Note A - Summary of Significa23

Note A - Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($)	Sep. 30, 2017	Sep. 30, 2016
Fixed Assets	$ 11,569,001	$ 10,714,795
Less accumulated depreciation	6,134,829	4,933,981
Property, plant and equipment, net	5,434,172	5,780,814
Machinery and Equipment [Member]
Fixed Assets	5,370,962	4,585,422
Office Equipment [Member]
Fixed Assets	3,600,006	3,513,002
Leasehold Improvements [Member]
Fixed Assets	2,404,331	2,422,669
Vehicles [Member]
Fixed Assets	$ 193,702	$ 193,702

Note A - Summary of Significa24

Note A - Summary of Significant Accounting Policies - Weighted Average Common Shares Outstanding (Details) - USD ($)	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015
Net income	$ 3,847,839	$ 8,013,062	$ 4,682,008
Weighted average common shares (in shares)	13,532,375	13,372,579	13,216,010
Dilutive potential common shares	$ 128,431	$ 290,770	$ 371,522
Weighted average dilutive common shares outstanding (in shares)	13,660,806	13,663,349	13,587,532
Earnings per share:
Basic (in dollars per share)	$ 0.28	$ 0.60	$ 0.35
Diluted (in dollars per share)	$ 0.28	$ 0.59	$ 0.34

Note B - Commitments and Faci25

Note B - Commitments and Facilities (Details Textual) - USD ($)	Apr. 25, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015	Nov. 13, 2014
Operating Leases, Rent Expense		$ 768,000	$ 658,000	$ 630,000
Stock Repurchase Program, Authorized Amount	$ 12,000,000				$ 8,000,000
Stock Repurchase Program, Increase in Authorized Amount	$ 4,000,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 7,169,768

Note B - Commitments and Faci26

Note B - Commitments and Facilities - Future Minimum Lease Payments (Details)	Sep. 30, 2017USD ($)
2,018	$ 584,249
2,019	593,586
2,020	568,018
2,021	402,123
2,022	412,177
Thereafter	1,037,817
Total minimum lease payments	$ 3,597,970

Note C - Shareholders' Equity27

Note C - Shareholders' Equity (Details Textual) - USD ($)	3 Months Ended				12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015	Feb. 28, 2010
Common Stock, Shares Authorized					50,000,000	50,000,000
Common Stock, Par or Stated Value Per Share					$ 0.01	$ 0.01
Preferred Stock, Shares Authorized					5,000,000
Temporary Equity, Shares Subscribed but Unissued								67,500
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant					1,103,657
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized					$ 5,208,269
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					7 years 36 days
Allocated Share-based Compensation Expense					$ 2,319,975	$ 1,404,899	$ 1,074,727
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					0	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term					2 years 266 days	2 years 302 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number					0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period					15,850	242,584
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value					$ 237,172	$ 2,644,220
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value					$ 421,237
Stock Repurchased During Period, Shares					75,445	19,072
Treasury Stock Acquired, Average Cost Per Share					$ 12.63	$ 17.97
Payments Related to Tax Withholding for Share-based Compensation					$ 952,832	$ 437,537	$ 639,307
Director [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
Employee Stock Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					3 years
Employee Stock Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					5 years
Cashless Method Stock Option Exercised [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period					10,500	152,484
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant					117,255
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price	$ 11.22	$ 15.21	$ 11.40	$ 11.40
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	14,723	11,144	11,966	10,352
Payments Related to Tax Withholding for Share-based Compensation					$ 73,542
Stock Compensation Plan 2007 [Member] | Restricted Stock [Member] | Minimum [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					1 year
Stock Compensation Plan 2007 [Member] | Restricted Stock [Member] | Maximum [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						10 years
Selling, General and Administrative Expenses [Member]
Allocated Share-based Compensation Expense					$ 2,103,621	$ 1,272,656
Cost of Sales [Member]
Allocated Share-based Compensation Expense					$ 216,354	$ 132,243
Series B Preferred Stock [Member]
Preferred Stock, Shares Authorized					500,000	500,000
Preferred Stock, Shares Issued					0	0
Preferred Stock, Shares Outstanding					0	0

Note C - Shareholders' Equity -

Note C - Shareholders' Equity - Option Transaction Summary (Details) - $ / shares	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Options, outstanding (in shares)	54,800	297,384
Weighted-average exercise price, outstanding (in dollars per share)	$ 3.13	$ 5.29
Cancelled or Forfeited (in shares)
Weighted-average exercise price, Cancelled or Forfeited (in dollars per share)
Exercised (in shares)	(15,850)	(242,584)
Weighted-average exercise price, Exercised (in dollars per share)	$ 3.97	$ 5.78
Exercised (in shares)	(15,850)	(242,584)
Weighted-average exercise price, Exercised (in dollars per share)	$ 3.97	$ 5.78
Options, outstanding (in shares)	38,950	54,800
Weighted-average exercise price, outstanding (in dollars per share)	$ 2.79	$ 3.13

Note C - Shareholders' Equity29

Note C - Shareholders' Equity - Options Exercisable (Details) - $ / shares	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Exercisable (in shares)	38,950	54,800
Weighted average remaining contractual life (Year)	2 years 266 days	2 years 302 days
Weighted average exercise price (in dollars per share)	$ 2.79	$ 3.13

Note C - Shareholders' Equity30

Note C - Shareholders' Equity - Options Currently Outstanding (Details) - USD ($)	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015
Number outstanding (in shares)	38,950	54,800	297,384
Weighted average remaining contractual life (Year)	2 years 266 days	2 years 302 days
Weighted average exercise price (in dollars per share)	$ 2.79	$ 3.13	$ 5.29
Aggregate intrinsic value	$ 421,237	$ 858,771

Note C - Shareholders' Equity31

Note C - Shareholders' Equity - Restricted Stock Transactions (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Balance, unvested shares (in shares)	563,570	409,130
Balance, weighted-average grant date fair value (in dollars per share)	$ 14.26	$ 9.97
Granted (in shares)	3,795	269,173
Granted (in dollars per share)	$ 16.45	$ 17.43
Vested (in shares)	(185,231)	(103,826)
Vested (in dollars per share)	$ 12.30	$ 7.99
Forfeited (in shares)	(11,604)	(10,907)
Forfeited (in dollars per share)	$ 14.79	$ 12.99
Balance, unvested shares (in shares)	370,530	563,570
Balance, weighted-average grant date fair value (in dollars per share)	$ 15.24	$ 14.26

Note D - Income Taxes (Details

Note D - Income Taxes (Details Textual)	3 Months Ended		12 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)
Effective Income Tax Rate Reconciliation, Percent			31.00%	26.00%	35.00%
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ (163,000)
Income Taxes Receivable, Current	409,000	$ 643,000	$ 409,000	$ 643,000
Unrecognized Tax Benefits	0	0	0	0	$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense			0	0	$ 0
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Valuation Allowance	159,000	322,000	159,000	322,000
Operating Loss Carryforwards	6,437,000		6,437,000
State and Local Jurisdiction [Member] | Research Tax Credit Carryforward [Member]
Tax Credit Carryforward, Amount	159,000		159,000
State and Local Jurisdiction [Member] | Alternative Minimum Tax [Member]
Tax Credit Carryforward, Amount	46,000		$ 46,000
State and Local Jurisdiction [Member] | Valuation Allowance, Operating Loss Carryforwards, Expired and Utilized [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	(131,000)
State and Local Jurisdiction [Member] | Valuation Allowance, Operating Loss Carryforwards, Higher Expected NOL Utilization [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ (32,000)
Adjustments for New Accounting Principle, Early Adoption [Member] | Accounting Standards Update 2016-09 [Member]
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense		$ 437,096		$ 675,183
Effective Income Tax Rate Reconciliation, Percent		16.30%		26.40%
Increase (Decrease) in Earnings Per Share, Basic and Diluted				0.05
Increase (Decrease) in Effective Income Tax Rate Reconciliation, Percent		13.70%		6.20%
Increase (Decrease) in Earnings Per Share, Basic		0.03
Increase (Decrease) in Earnings Per Share, Diluted		0.04
Adjustments for New Accounting Principle, Early Adoption [Member] | December 31, 2015 [Member] | Accounting Standards Update 2016-09 [Member]
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense		$ 104,134
Effective Income Tax Rate Reconciliation, Percent		(5.20%)
Increase (Decrease) in Earnings Per Share, Basic and Diluted		0.01
Adjustments for New Accounting Principle, Early Adoption [Member] | March 31, 2016 [Member] | Accounting Standards Update 2016-09 [Member]
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense		$ 54,313
Effective Income Tax Rate Reconciliation, Percent		(2.50%)
Increase (Decrease) in Earnings Per Share, Basic and Diluted		0
Adjustments for New Accounting Principle, Early Adoption [Member] | June 30, 2016 [Member] | Accounting Standards Update 2016-09 [Member]
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense		$ 79,640
Effective Income Tax Rate Reconciliation, Percent		(2.30%)
Increase (Decrease) in Earnings Per Share, Basic and Diluted		0.01
Reclassification of Excess Tax Benefits Related to Stock-based Employee Awards from Financing Activities to Operating Activities [Member] | Accounting Standards Update 2016-09 [Member]
Cumulative Effect on Retained Earnings, Net of Tax				$ 1,864,980
Reclassification of Excess Tax Benefits Related to Stock-based Employee Awards from Financing Activities to Operating Activities [Member] | Three Months Ended December 31, 2015 [Member] | Accounting Standards Update 2016-09 [Member]
Prior Period Reclassification Adjustment		$ 348,000
Reclassification of Excess Tax Benefits Related to Stock-based Employee Awards from Financing Activities to Operating Activities [Member] | Six Months Ended March 31, 2016 [Member] | Accounting Standards Update 2016-09 [Member]
Prior Period Reclassification Adjustment		741,000
Reclassification of Excess Tax Benefits Related to Stock-based Employee Awards from Financing Activities to Operating Activities [Member] | Nine Months Ended June 30, 2016 [Member] | Accounting Standards Update 2016-09 [Member]
Prior Period Reclassification Adjustment		$ 1,786,000

Note D - Income Taxes - Valuati

Note D - Income Taxes - Valuation Allowance Activity (Details) - USD ($)	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015
Balance at Beginning of Year	$ 322,404	$ 658,808	$ 847,826
Income Tax Benefit	(32,154)	(78,044)	(53,836)
Reversal for State NOL Expiration and Utilization	(131,096)	(258,360)	(135,182)
Balance at End of Year	$ 159,154	$ 322,404	$ 658,808

Note D - Income Taxes - Signifi

Note D - Income Taxes - Significant Components of Deferred Income Tax Assets and Liabilities (Details) - USD ($)	Sep. 30, 2017	Sep. 30, 2016
Gross long-term deferred tax liability	$ (284,922)	$ (89,375)
Valuation allowance	(159,154)	(322,404)
Net long-term deferred tax liability	(444,076)	(411,779)
Long-term [Member]
Intangibles	(90,085)	(67,450)
Property and equipment depreciation	(948,653)	(815,374)
Stock-based compensation	209,645	221,905
Goodwill	(866,388)	(786,577)
Short Term [Member]
Net operating loss carry forwards and credits	551,125	702,113
Inventories	503,632	388,292
Prepaid expenses	(48,847)	(44,511)
Accrued expenses and reserves	$ 404,649	$ 312,227

Note D - Income Taxes - Reconci

Note D - Income Taxes - Reconciliation of the Federal Statutory Income Tax Rate (Details)	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015
Federal statutory rate	34.00%	34.00%	34.00%
State income taxes	1.00%	1.00%	1.00%
Permanent differences	(1.00%)		1.00%
Change in valuation allowance	(4.00%)	(3.00%)	(3.00%)
Expiration and utilization of state NOL’s	3.00%	2.00%	2.00%
Research and development credits	(1.00%)	(1.00%)
Excess tax benefits from stock-based compensation	(1.00%)	(7.00%)
Tax rate	31.00%	26.00%	35.00%

Note D - Income Taxes - Income

Note D - Income Taxes - Income Tax Expense (Benefit) Components (Details) - USD ($)	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015
Current:
Federal	$ 1,627,125	$ 428,638	$ 67,373
State	78,552	106,623	65,820
Current income tax expense	1,705,677	535,261	133,193
Deferred:
Federal	8,680	2,434,294	2,377,590
State	23,617	(93,523)	(35,545)
Deferred income tax expense	32,297	2,340,771	2,342,045
Income tax expense	$ 1,737,974	$ 2,876,032	$ 2,475,238

Note E - Concentrations (Detail

Note E - Concentrations (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Property, Plant and Equipment, Net	$ 5,434,172	$ 5,780,814
MEXICO
Property, Plant and Equipment, Net	$ 581,396	$ 376,004
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer B [Member]
Concentration Risk, Percentage	19.00%	12.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer A [Member]
Concentration Risk, Percentage		18.00%

Note E - Concentrations - Custo

Note E - Concentrations - Customers Comprising 10% or More of Net Sales (Details) - Customer Concentration Risk [Member] - Sales Revenue, Net [Member]	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016		Sep. 30, 2015
Customer A [Member]
Concentration Risk, Percentage	20.00%	21.00%		25.00%
Customer B [Member]
Concentration Risk, Percentage	15.00%	16.00%	[1]		[1]
[1]	Less than 10%

Note F - Employee Benefit Plan

Note F - Employee Benefit Plan (Details Textual) - USD ($)	3 Months Ended	12 Months Ended			33 Months Ended
	Dec. 31, 2014	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2017
Defined Contribution Plan, Employer Discretionary Contribution Amount		$ 652,615	$ 520,530	$ 460,868
First Level of Matching [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	100.00%				100.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	3.00%				3.00%
Second Level Of Matching [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	50.00%				50.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	2.00%				3.00%