Clearfield (CLFD) 10-K 14 Nov 18 2018 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Sep. 30, 2018	Nov. 07, 2018	Mar. 31, 2018
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 Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		13,646,062
Entity Public Float			$ 145,057,933
Document Type	10-K
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Shell Company	false

Balance Sheets

Balance Sheets - USD ($)	Sep. 30, 2018	Sep. 30, 2017
Current Assets
Cash and cash equivalents	$ 8,547,777	$ 18,536,111
Short-term investments	8,930,225	5,937,150
Accounts receivable, net	12,821,258	7,237,641
Inventories, net	10,050,135	8,453,567
Other current assets	742,136	978,933
Total current assets	41,091,531	41,143,402
Property, plant and equipment, net	4,744,584	5,434,172
Other Assets
Long-term investments	17,974,000	19,816,000
Goodwill	4,708,511	2,570,511
Intangible assets, net	5,482,555	284,787
Other	227,461	245,165
Total other assets	28,392,527	22,916,463
Total Assets	74,228,642	69,494,037
Current Liabilities
Accounts payable	2,363,380	1,739,791
Accrued compensation	2,048,904	2,410,026
Accrued expenses	568,507	93,304
Total current liabilities	4,980,791	4,243,121
Other Liabilities
Deferred taxes	104,935	444,076
Deferred rent	268,040	281,720
Total other liabilities	372,975	725,796
Total liabilities	5,353,766	4,968,917
Shareholders’ Equity
Preferred stock, $.01 par value; 500,000 shares; no shares issued or outstanding
Common stock, $ .01 par value; 50,000,000 shares authorized; 13,646,553 and 13,812,821 shares issued and outstanding as of September 30, 2018 and 2017, respectively	136,466	138,128
Additional paid-in capital	55,483,759	55,406,888
Retained earnings	13,254,651	8,980,104
Total shareholders’ equity	68,874,876	64,525,120
Total Liabilities and Shareholders’ Equity	$ 74,228,642	$ 69,494,037

Balance Sheets (Parentheticals)

Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2018	Sep. 30, 2017
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
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)	13,646,553	13,812,821
Common stock, shares outstanding (in shares)	13,646,553	13,812,821

Statements of Earnings

Statements of Earnings - USD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Net sales	$ 77,651,354	$ 73,947,619	$ 75,287,726
Cost of sales	46,654,570	43,683,360	42,417,478
Gross profit	30,996,784	30,264,259	32,870,248
Operating expenses
Selling, general, and administrative	25,925,933	24,952,376	22,138,556
Income from operations	5,070,851	5,311,883	10,731,692
Interest income	457,101	273,930	157,402
Income before income taxes	5,527,952	5,585,813	10,889,094
Income tax expense	1,253,405	1,737,974	2,876,032
Net income	$ 4,274,547	$ 3,847,839	$ 8,013,062
Net income per share Basic (in dollars per share)	$ 0.32	$ 0.28	$ 0.60
Net income per share Diluted (in dollars per share)	$ 0.32	$ 0.28	$ 0.59
Shares used in calculation of net income per share:
Basic (in shares)	13,429,232	13,532,375	13,372,579
Diluted (in shares)	13,452,860	13,660,806	13,663,349

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, 2015	13,705,658
Balance at Sep. 30, 2015	$ 137,057	$ 55,887,850	$ (4,745,777)	$ 51,279,130
Establishment of deferred tax asset for the adoption of ASU 2016-09			1,864,980	1,864,980
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
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
Stock-based compensation expense		2,003,207		2,003,207
Repurchase of common stock (in shares)	(154,491)
Repurchase of common stock	$ (1,545)	(1,758,897)		(1,760,442)
Restricted stock issuance, net (in shares)	(7,987)
Restricted stock issuance, net	$ (80)	80
Employee stock purchase plan (in shares)	30,174
Employee stock purchase plan	$ 302	297,558		297,860
Exercise of stock options, net of shares exchanged for payment (in shares)	8,025
Exercise of stock options, net of shares exchanged for payment	$ 81	23,931		24,012
Tax withholding related to vesting of restricted stock grants and exercise of stock options (in shares)	(41,989)
Tax withholding related to vesting of restricted stock grants and exercise of stock options	$ (420)	(489,008)		(489,428)
Net income			4,274,547	4,274,547
Balance (in shares) at Sep. 30, 2018	13,646,553
Balance at Sep. 30, 2018	$ 136,466	$ 55,483,759	$ 13,254,651	$ 68,874,876

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net income	$ 4,274,547	$ 3,847,839	$ 8,013,062
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	2,047,746	1,622,094	1,449,202
Impairment of long-lived assets	0	643,604	0
Deferred income taxes	(339,141)	32,297	2,340,771
(Gain) loss on disposal of assets	(17,691)	35,281	12,348
Stock-based compensation expense	2,003,207	2,319,975	1,404,899
Changes in operating assets and liabilities, net of business acquisition:
Accounts receivable	(5,583,617)	761,569	(1,988,310)
Inventories	1,183,998	(80,412)	(1,190,301)
Prepaid expenses and other current assets	254,501	180,456	(812,811)
Accounts payable and accrued expenses	723,990	(3,064,650)	2,323,891
Net cash provided by operating activities	4,547,540	6,298,053	11,552,751
Cash flows from investing activities:
Business acquisition	(10,350,000)
Purchases of property, plant and equipment	(1,066,284)	(1,951,615)	(1,550,128)
Purchase of investments	(7,283,075)	(17,630,075)	(8,138,075)
Proceeds from sale of property and equipment	83,052	5,100	729
Patent additions	(123,569)	(69,936)	(77,138)
Sale of investments	6,132,000	8,107,000	8,123,000
Net cash used in investing activities	(12,607,876)	(11,539,526)	(1,641,612)
Cash flows from financing activities:
Repurchase of common stock	(1,760,442)	(3,647,314)	(333,761)
Proceeds from issuance of common stock under employee stock purchase plan	297,860	334,692	254,426
Proceeds from issuance of common stock	24,012	28,717	548,844
Tax withholding related to vesting of restricted stock grants and exercise of stock options	(489,428)	(952,832)	(437,537)
Net cash (used in) provided by financing activities	(1,927,998)	(4,236,737)	31,972
(Decrease) increase in cash and cash equivalents	(9,988,334)	(9,478,210)	9,943,111
Cash and cash equivalents at beginning of year	18,536,111	28,014,321	18,071,210
Cash and cash equivalents at end of year	8,547,777	18,536,111	28,014,321
Supplemental cash flow information
Cash paid during the year for income taxes, net of refunds	719,694	1,471,203	1,130,930
Non-cash financing activities
Cashless exercise of stock options	5,782	34,268	853,033
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, 2018
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, 2018 2017 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, 2018 September 30, 2017 Less than one year $ 8,930,225 $ 5,937,150 1-5 years 17,974,000 19,816,000 Total $ 26,904,225 $ 25,753,150 Accounts Receivable: not not The allowance for doubtful accounts activity for the years ended September 30, 2018, 2017, 2016 Year Ended Balance at Beginning of Year Additions Charged to Costs and Expenses Less Write-offs Balance at End of Year September 30, 2018 $ 79,085 $ - $ - $ 79,085 September 30, 2017 93,473 - (14,388 ) 79,085 September 30, 2016 79,473 25,000 (11,000 ) 93,473 Fair Value of Financial Instruments: Inventories: first first September 30, 2018 September 30, 2017 Raw materials $ 6,013,166 $ 5,991,863 Work-in-process 560,988 724,248 Finished goods 3,475,981 1,737,456 Inventories, net $ 10,050,135 $ 8,453,567 During the year ended September 30, 2018, $2,781,000. may not not Also during the year ended September 30, 2018, 2015 11, Inventory (Topic 330 first no not Property, Plant and Equipment: Estimated useful lives of the assets are as follows: Years Equipment 3 - 7 Leasehold improvements 7 - 10 or life of lease Vehicles 3 Property, plant and equipment consist of the following: September 30, 2018 September 30, 2017 Manufacturing equipment $ 5,202,532 $ 5,370,962 Office equipment 3,809,614 3,600,006 Leasehold improvements 2,417,786 2,404,331 Vehicles 226,221 193,702 Property, plant and equipment, gross 11,656,153 11,569,001 Less accumulated depreciation 6,911,569 6,134,829 Property, plant and equipment, net $ 4,744,584 $ 5,434,172 Depreciation expense for the years ended September 30, 2018, 2017, 2016 $1,748,945, $1,614,272, $1,445,910, Goodwill and Intangible Assets: one fourth may not September 30, 2018, 2017, 2016 no September 30, 2018, 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, 2018, 2017, 2016, 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, 2018, 15 In addition, the Company has various finite life intangible assets, most of which were acquired as a result of the acquisition of a portfolio of Telcordia certified outdoor active cabinet products from Calix, Inc. (“Calix”) during fiscal year 2018 September 30, 2018 2017 September 30, 2018 Years Gross Carrying Amount Accumulated Amortization Net Book Value Amount Customer relationships 15 $ 3,742,000 $ 155,917 $ 3,586,083 Certifications 8 1,068,000 83,437 984,563 Trademarks 8 563,000 43,984 519,016 Patents 20 393,002 24,981 368,021 Other 5 31,091 6,219 24,872 Totals $ 5,797,093 $ 314,538 $ 5,482,555 September 30, 2017 Years Gross Carrying Amount Accumulated Amortization Net Book Value Amount Patents 20 $ 269,433 $ 15,737 $ 253,696 Other 5 31,091 - 31,091 Totals $ 300,524 $ 15,737 $ 284,787 Amortization expense related to these assets for the years ended September 30, 2018, 2017, 2016 $298,801, $7,822, $3,292, Estimated future annual amortization expense associated with finite lived intangible assets is expected to be as follows: Year ending September 30 Amount 2019 $ 471,215 2020 471,215 2021 471,215 2022 471,215 2023 464,997 Thereafter 3,132,698 Total future amortization expense $ 5,482,555 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 This impairment was related to the cancellation of an enterprise resource planning software implementation. No September 30, 2018 2016, 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, 2018 September 30, 2017, 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 $787,364, $865,568, $838,122, September 30, 2018, 2017, 2016, Advertising Costs $365,859, $378,217, $350,399, September 30, 2018, 2017, 2016, Net Income Per Share: Weighted average common shares outstanding for the years ended September 30, 2018, 2017, 2016 Year ended September 30, 2018 2017 2016 Net income $ 4,274,547 $ 3,847,839 $ 8,013,062 Weighted average common shares 13,429,232 13,532,375 13,372,579 Dilutive potential common shares 23,628 128,431 290,770 Weighted average dilutive common shares outstanding 13,452,860 13,660,806 13,663,349 Earnings per share: Basic $ 0.32 $ 0.28 $ 0.60 Diluted $ 0.32 $ 0.28 $ 0.59 There were 108,000 September 30, 2018 No September 30, 2017 2016. Use of Estimates: may Reclassifications: Certain comparative figures have been reclassified to conform to the current period's presentation. These reclassifications did not Recently Issued Accounting Pronouncements: In May 2014, 606, Revenue from Contracts with Customers 605, December 15, 2017, December 15, 2016, two not September 30, 2018, 2015 14 not In February 2016, 2016 02, Leases December 15, 2018, October 1, 2019. In January 2017, 2017 04 2 January 1, 2020, January 1, 2017. not

Note B - Commitments and Facili

Note B - Commitments and Facilities	12 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	NOTE B – COMMITMENTS AND FACILITIES Operating Leases: February 2024. September 30, 2018, 2017, 2016, $869,000, $768,000 $658,000 As of September 30, 2018, Year ending September 30 Operating leases 2019 $ 593,586 2020 568,018 2021 402,123 2022 412,177 2023 422,481 Thereafter 615,336 Total minimum lease payments $ 3,013,721 Share Repurchase Program: November 13, 2014, $8,000,000 April 25, 2017, $4,000,000 $12,000,000 not September 30, 2018, may $5,409,326

Note C - Shareholders' Equity

Note C - Shareholders' Equity	12 Months Ended
	Sep. 30, 2018
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 2007 1,003,644 September 30, 2018. September 30, 2018, $3,522,909 6.1 September 30, 2018, 2017, 2016 $2,003,207, $2,319,975, $1,404,899, September 30, 2018, $1,835,086 $168,121 September 30, 2017, $2,103,621 $216,354 September 30, 2016, $1,272,656 $132,243 Stock Options: September 30, 2018, 108,000 4.7 three $13.37. no September 30, 2017 2016. September 30, 2018 $4.78. Year ended September 30, 2018 Dividend yield 0 % Weighted average expected volatility 43.68 % Weighted average risk-free interest rate 2.70 % Weighted average expected life 3.7 years Vesting period 3.0 years The expected stock price volatility is based on the historical volatility of the Company’s stock for a period approximating the expected life. The expected life represents the period of time that options are expected to be outstanding after their grant date. The risk-free interest rate reflects the interest rate at grant date on zero Options are generally granted at fair market values determined on the date of grant and vesting normally occurs over a three five one six six no September 30, 2018 2017, September 30, 2018, 2,250 September 30, 2017, 10,500 September 30, 2018 2017 $75,767 $237,172, September 30, 2018 $331,535. Option transactions under the 2007 September 30, 2018 2017 Number of shares Weighted average exercise price Weighted average fair value Outstanding as of September 30, 2016 54,800 $ 3.13 Granted - - - Cancelled or Forfeited - - Exercised (15,850 ) 3.97 Outstanding as of September 30, 2017 38,950 2.79 Granted 108,000 13.37 $ 4.78 Cancelled or Forfeited - - Exercised (8,450 ) 3.58 Outstanding as of September 30, 2018 138,500 $ 10.99 The following table summarizes information concerning options exercisable under the 2007 Year ended Exercisable Weighted average remaining contractual life Weighted average exercise price September 30, 2018 30,500 1.89 years $ 2.58 September 30, 2017 38,950 2.73 years $ 2.79 The following table summarizes information concerning options currently outstanding at: Year Ended Number outstanding Weighted average remaining contractual life Weighted average exercise price Aggregate intrinsic value September 30, 2018 138,500 3.82 years $ 10.99 $ 340,531 September 30, 2017 38,950 2.73 years $ 2.79 $ 421,237 Restricted Stock: 2007 one ten Restricted stock transactions during the years ended September 30, 2018 2017 Number of shares Weighted average grant date fair value Unvested shares as of September 30, 2016 563,570 $ 14.26 Granted 3,795 16.45 Vested (185,231 ) 12.30 Forfeited (11,604 ) 14.79 Unvested shares as of September 30, 2017 370,530 15.24 Granted 7,235 14.17 Vested (113,930 ) 16.45 Forfeited (15,222 ) 15.41 Unvested shares as of September 30, 2018 248,613 $ 14.65 The Company repurchased a total of 41,989 $11.66 September 30, 2018. 75,445 $12.63 September 30, 2017. Employee Stock Purchase Plan: 2010 may may no 85% one six July 1 January 1 December 31, 2017 June 30, 2018, 14,242 15,932 $10.41 $9.39 December 31, 2016 June 30, 2017, 11,144 14,723 $15.21 $11.22 September 30, 2018, $70,905 July 1, 2018. June 30, 2018, 87,081

Note D - Income Taxes

Note D - Income Taxes	12 Months Ended
	Sep. 30, 2018
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, 2017, $159,000 $32,000 first 2018. uring the fourth 2018, $86,000 2018 $133,000 $47,000 September 30, 2018 $105,000 not may The valuation allowance activity for the years ended September 30, 2018, 2017, 2016 Year Ended Balance at Beginning of Year Income Tax Expense (Benefit) Reversal for State NOL Expiration and Utilization Balance at End of Year September 30, 2018 $ 159,154 $ 79,377 $ (133,673 ) $ 104,858 September 30, 2017 322,404 (32,154 ) (131,096 ) 159,154 September 30, 2016 658,808 (78,044 ) (258,360 ) 322,404 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 $ (70,467 ) $ (90,085 ) Property and equipment depreciation (552,119 ) (948,653 ) Net operating loss carry forwards and credits 464,274 551,125 Stock-based compensation 151,558 209,645 Inventories 400,111 503,632 Prepaid expenses (60,806 ) (48,847 ) Accrued expenses and reserves 250,787 404,649 Goodwill (583,415 ) (866,388 ) Gross long-term deferred tax liability (77 ) (284,922 ) Valuation allowance (104,858 ) (159,154 ) Net long-term deferred tax liability $ (104,935 ) $ (444,076 ) As of September 30, 2018, $464,000 September 30, 2017, $409,000. During the quarter ended December 31, 2015, 2015 17 not As of September 30, 2018, no $3,468,000 2016. 2019 2022 not September 30, 2018, $198,000 $50,000, 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 24 % 34 % 34 % Federal rate change (5 %) - - State income taxes 2 % 1 % 1 % Permanent differences - (1 %) - Change in valuation allowance (3 %) (4 %) (3 %) Expiration and utilization of state NOL’s 4 % 3 % 2 % Research and development credits (1 %) (1 %) (1 %) Excess tax expense (benefits) from stock-based compensation 2 % (1 %) (7 %) Tax rate 23 % 31 % 26 % Components of the income tax expense are as follows for the years ended: September 30, September 30, September 30, Current: Federal $ 1,472,512 $ 1,627,125 $ 428,638 State 120,034 78,552 106,623 Current income tax expense 1,592,546 1,705,677 535,261 Deferred: Federal (463,798 ) 8,680 2,434,294 State 124,657 23,617 (93,523 ) Deferred income tax expense (339,141 ) 32,297 2,340,771 Income tax expense $ 1,253,405 $ 1,737,974 $ 2,876,032 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, 2018, 2017, 2016. 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 2003. 2002 September 30, 2018, 2016. no 2007 March 31 September 30.

Note E - Concentrations

Note E - Concentrations	12 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE E – CONCENTRATIONS Suppliers: third may may Customers: For the years ended September 30, 2018, 2017, 2016, two 10% not As of September 30, 2018, three 10% September 30, 2017, one 19% The Company allocates sales from external customers to geographic areas based on the location to which the product is transported. Sales outside the United States are principally to countries in the Caribbean, Canada, Central and South America. The following table presents our domestic and international sales for each of the last three Year Ended September 30, 2018 2017 2016 United States $ 72,295,000 $ 67,901,000 $ 71,264,000 All Other Countries 5,356,000 6,047,000 4,024,000 Total Net Sales $ 77,651,000 $ 73,948,000 $ 75,288,000 Long-lived assets: September 30, 2018 2017, $412,755 $581,396,

Note F - Acquisition

Note F - Acquisition	12 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
Business Combination Disclosure [Text Block]	NOTE F – ACQUISITION On February 20, 2018, February 20, 2018. The introduction of the Clearfield active cabinet line provides customers a single point of contact for cabinet solutions—both passive and powered. The acquisition enables Clearfield to expand its Fiber-to-Anywhere expertise to include active powered electronic cabinet platforms while leveraging its supply chain. The acquisition also enables Clearfield to capitalize on and expand its reach to a broader customer base, including service providers in the Tier 1 2 Acquisition date fair value of the consideration transferred totaled $10,350,000 $10,350,000 We assumed no $3,500,000 2019. The following table summarizes the preliminary estimated fair values of the assets acquired at the acquisition February 20, 2018 Inventories $ 2,781,000 Property, plant and equipment 58,000 Trademarks 563,000 Customer relationships 3,742,000 Product certification 1,068,000 Goodwill 2,138,000 Total Assets $ 10,350,000 The active cabinet acquisition resulted in $2,138,000 . Specifically, the goodwill recorded as part of the acquisition of the Calix active cabinets includes the expected synergies and other benefits that we believe will result from combining the operations of active cabinet lines with the operations of Clearfield, Inc. The Company incurred approximately $106,000 12.5 As the active cabinet business was not not The following table below reflects our unaudited pro forma combined results of operations as if the acquisition had taken place as of October 1, 2016 September 30, 2018 2017. The pro forma includes estimated expenses relating to the amortization of intangibles purchased, the amortization of the inventory fair value adjustment, and estimated personnel costs: Pro Forma Pro Forma Net sales $ 89,672,074 $ 80,958,789 Income from operations $ 8,174,841 $ 5,554,766 Net income $ 5,809,018 $ 4,794,757 Net income per share: Basic $ 0.43 $ 0.36 Diluted $ 0.43 $ 0.36 The pro forma unaudited results do not may not may may

Note G - Employee Benefit Plan

Note G - Employee Benefit Plan	12 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	NOTE G – EMPLOYEE BENEFIT PLAN The Company maintains a contributory 401 may not 100% first 3% 50% 3% $654,001, $652,615 $520,530 September 30, 2018, 2017, 2016, .

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition:
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents: three September 30, 2018 2017 The Company maintains cash balances at several financial institutions, and at times, such balances exceed insured limits. The Company has not not
Investment, Policy [Policy Text Block]	Investments: not five three September 30, 2018 September 30, 2017 Less than one year $ 8,930,225 $ 5,937,150 1-5 years 17,974,000 19,816,000 Total $ 26,904,225 $ 25,753,150
Receivables, Policy [Policy Text Block]	Accounts Receivable: not not The allowance for doubtful accounts activity for the years ended September 30, 2018, 2017, 2016 Year Ended Balance at Beginning of Year Additions Charged to Costs and Expenses Less Write-offs Balance at End of Year September 30, 2018 $ 79,085 $ - $ - $ 79,085 September 30, 2017 93,473 - (14,388 ) 79,085 September 30, 2016 79,473 25,000 (11,000 ) 93,473
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments:
Inventory, Policy [Policy Text Block]	Inventories: first first September 30, 2018 September 30, 2017 Raw materials $ 6,013,166 $ 5,991,863 Work-in-process 560,988 724,248 Finished goods 3,475,981 1,737,456 Inventories, net $ 10,050,135 $ 8,453,567 During the year ended September 30, 2018, $2,781,000. may not not Also during the year ended September 30, 2018, 2015 11, Inventory (Topic 330 first no not
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment: Estimated useful lives of the assets are as follows: Years Equipment 3 - 7 Leasehold improvements 7 - 10 or life of lease Vehicles 3 Property, plant and equipment consist of the following: September 30, 2018 September 30, 2017 Manufacturing equipment $ 5,202,532 $ 5,370,962 Office equipment 3,809,614 3,600,006 Leasehold improvements 2,417,786 2,404,331 Vehicles 226,221 193,702 Property, plant and equipment, gross 11,656,153 11,569,001 Less accumulated depreciation 6,911,569 6,134,829 Property, plant and equipment, net $ 4,744,584 $ 5,434,172 Depreciation expense for the years ended September 30, 2018, 2017, 2016 $1,748,945, $1,614,272, $1,445,910,
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill and Intangible Assets: one fourth may not September 30, 2018, 2017, 2016 no September 30, 2018, 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, 2018, 2017, 2016, 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, 2018, 15 In addition, the Company has various finite life intangible assets, most of which were acquired as a result of the acquisition of a portfolio of Telcordia certified outdoor active cabinet products from Calix, Inc. (“Calix”) during fiscal year 2018 September 30, 2018 2017 September 30, 2018 Years Gross Carrying Amount Accumulated Amortization Net Book Value Amount Customer relationships 15 $ 3,742,000 $ 155,917 $ 3,586,083 Certifications 8 1,068,000 83,437 984,563 Trademarks 8 563,000 43,984 519,016 Patents 20 393,002 24,981 368,021 Other 5 31,091 6,219 24,872 Totals $ 5,797,093 $ 314,538 $ 5,482,555 September 30, 2017 Years Gross Carrying Amount Accumulated Amortization Net Book Value Amount Patents 20 $ 269,433 $ 15,737 $ 253,696 Other 5 31,091 - 31,091 Totals $ 300,524 $ 15,737 $ 284,787 Amortization expense related to these assets for the years ended September 30, 2018, 2017, 2016 $298,801, $7,822, $3,292, Estimated future annual amortization expense associated with finite lived intangible assets is expected to be as follows: Year ending September 30 Amount 2019 $ 471,215 2020 471,215 2021 471,215 2022 471,215 2023 464,997 Thereafter 3,132,698 Total future amortization expense $ 5,482,555
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	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 This impairment was related to the cancellation of an enterprise resource planning software implementation. No September 30, 2018 2016,
Income Tax, Policy [Policy Text Block]	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, 2018 September 30, 2017, not not 12
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	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 Expense, Policy [Policy Text Block]	Research and Development Costs $787,364, $865,568, $838,122, September 30, 2018, 2017, 2016,
Advertising Costs, Policy [Policy Text Block]	Advertising Costs $365,859, $378,217, $350,399, September 30, 2018, 2017, 2016,
Earnings Per Share, Policy [Policy Text Block]	Net Income Per Share: Weighted average common shares outstanding for the years ended September 30, 2018, 2017, 2016 Year ended September 30, 2018 2017 2016 Net income $ 4,274,547 $ 3,847,839 $ 8,013,062 Weighted average common shares 13,429,232 13,532,375 13,372,579 Dilutive potential common shares 23,628 128,431 290,770 Weighted average dilutive common shares outstanding 13,452,860 13,660,806 13,663,349 Earnings per share: Basic $ 0.32 $ 0.28 $ 0.60 Diluted $ 0.32 $ 0.28 $ 0.59 There were 108,000 September 30, 2018 No September 30, 2017 2016.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates: may
Reclassification, Policy [Policy Text Block]	Reclassifications: Certain comparative figures have been reclassified to conform to the current period's presentation. These reclassifications did not
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements: In May 2014, 606, Revenue from Contracts with Customers 605, December 15, 2017, December 15, 2016, two not September 30, 2018, 2015 14 not In February 2016, 2016 02, Leases December 15, 2018, October 1, 2019. In January 2017, 2017 04 2 January 1, 2020, January 1, 2017. not

Note A - Summary of Significa_2

Note A - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Sep. 30, 2018
Notes Tables
Investments Classified by Contractual Maturity Date [Table Text Block]	September 30, 2018 September 30, 2017 Less than one year $ 8,930,225 $ 5,937,150 1-5 years 17,974,000 19,816,000 Total $ 26,904,225 $ 25,753,150
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, 2018 $ 79,085 $ - $ - $ 79,085 September 30, 2017 93,473 - (14,388 ) 79,085 September 30, 2016 79,473 25,000 (11,000 ) 93,473
Schedule of Inventory, Current [Table Text Block]	September 30, 2018 September 30, 2017 Raw materials $ 6,013,166 $ 5,991,863 Work-in-process 560,988 724,248 Finished goods 3,475,981 1,737,456 Inventories, net $ 10,050,135 $ 8,453,567
Property, Plant and Equipment [Table Text Block]	September 30, 2018 September 30, 2017 Manufacturing equipment $ 5,202,532 $ 5,370,962 Office equipment 3,809,614 3,600,006 Leasehold improvements 2,417,786 2,404,331 Vehicles 226,221 193,702 Property, plant and equipment, gross 11,656,153 11,569,001 Less accumulated depreciation 6,911,569 6,134,829 Property, plant and equipment, net $ 4,744,584 $ 5,434,172
Schedule of Finite-Lived Intangible Assets [Table Text Block]	September 30, 2018 Years Gross Carrying Amount Accumulated Amortization Net Book Value Amount Customer relationships 15 $ 3,742,000 $ 155,917 $ 3,586,083 Certifications 8 1,068,000 83,437 984,563 Trademarks 8 563,000 43,984 519,016 Patents 20 393,002 24,981 368,021 Other 5 31,091 6,219 24,872 Totals $ 5,797,093 $ 314,538 $ 5,482,555 September 30, 2017 Years Gross Carrying Amount Accumulated Amortization Net Book Value Amount Patents 20 $ 269,433 $ 15,737 $ 253,696 Other 5 31,091 - 31,091 Totals $ 300,524 $ 15,737 $ 284,787
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Year ending September 30 Amount 2019 $ 471,215 2020 471,215 2021 471,215 2022 471,215 2023 464,997 Thereafter 3,132,698 Total future amortization expense $ 5,482,555
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year ended September 30, 2018 2017 2016 Net income $ 4,274,547 $ 3,847,839 $ 8,013,062 Weighted average common shares 13,429,232 13,532,375 13,372,579 Dilutive potential common shares 23,628 128,431 290,770 Weighted average dilutive common shares outstanding 13,452,860 13,660,806 13,663,349 Earnings per share: Basic $ 0.32 $ 0.28 $ 0.60 Diluted $ 0.32 $ 0.28 $ 0.59
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 Faci_2

Note B - Commitments and Facilities (Tables)	12 Months Ended
	Sep. 30, 2018
Notes Tables
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]	Year ending September 30 Operating leases 2019 $ 593,586 2020 568,018 2021 402,123 2022 412,177 2023 422,481 Thereafter 615,336 Total minimum lease payments $ 3,013,721

Note C - Shareholders' Equity (

Note C - Shareholders' Equity (Tables)	12 Months Ended
	Sep. 30, 2018
Notes Tables
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Year ended September 30, 2018 Dividend yield 0 % Weighted average expected volatility 43.68 % Weighted average risk-free interest rate 2.70 % Weighted average expected life 3.7 years Vesting period 3.0 years
Share-based Compensation, Stock Options, Activity [Table Text Block]	Number of shares Weighted average exercise price Weighted average fair value Outstanding as of September 30, 2016 54,800 $ 3.13 Granted - - - Cancelled or Forfeited - - Exercised (15,850 ) 3.97 Outstanding as of September 30, 2017 38,950 2.79 Granted 108,000 13.37 $ 4.78 Cancelled or Forfeited - - Exercised (8,450 ) 3.58 Outstanding as of September 30, 2018 138,500 $ 10.99
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 Weighted average exercise price September 30, 2018 30,500 1.89 years $ 2.58 September 30, 2017 38,950 2.73 years $ 2.79
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 Weighted average exercise price Aggregate intrinsic value September 30, 2018 138,500 3.82 years $ 10.99 $ 340,531 September 30, 2017 38,950 2.73 years $ 2.79 $ 421,237
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 as of September 30, 2016 563,570 $ 14.26 Granted 3,795 16.45 Vested (185,231 ) 12.30 Forfeited (11,604 ) 14.79 Unvested shares as of September 30, 2017 370,530 15.24 Granted 7,235 14.17 Vested (113,930 ) 16.45 Forfeited (15,222 ) 15.41 Unvested shares as of September 30, 2018 248,613 $ 14.65

Note D - Income Taxes (Tables)

Note D - Income Taxes (Tables)	12 Months Ended
	Sep. 30, 2018
Notes Tables
Summary of Valuation Allowance [Table Text Block]	Year Ended Balance at Beginning of Year Income Tax Expense (Benefit) Reversal for State NOL Expiration and Utilization Balance at End of Year September 30, 2018 $ 159,154 $ 79,377 $ (133,673 ) $ 104,858 September 30, 2017 322,404 (32,154 ) (131,096 ) 159,154 September 30, 2016 658,808 (78,044 ) (258,360 ) 322,404
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	September 30, September 30, Long-term deferred income tax assets (liabilities): Intangibles $ (70,467 ) $ (90,085 ) Property and equipment depreciation (552,119 ) (948,653 ) Net operating loss carry forwards and credits 464,274 551,125 Stock-based compensation 151,558 209,645 Inventories 400,111 503,632 Prepaid expenses (60,806 ) (48,847 ) Accrued expenses and reserves 250,787 404,649 Goodwill (583,415 ) (866,388 ) Gross long-term deferred tax liability (77 ) (284,922 ) Valuation allowance (104,858 ) (159,154 ) Net long-term deferred tax liability $ (104,935 ) $ (444,076 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	September 30, September 30, September 30, Federal statutory rate 24 % 34 % 34 % Federal rate change (5 %) - - State income taxes 2 % 1 % 1 % Permanent differences - (1 %) - Change in valuation allowance (3 %) (4 %) (3 %) Expiration and utilization of state NOL’s 4 % 3 % 2 % Research and development credits (1 %) (1 %) (1 %) Excess tax expense (benefits) from stock-based compensation 2 % (1 %) (7 %) Tax rate 23 % 31 % 26 %
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	September 30, September 30, September 30, Current: Federal $ 1,472,512 $ 1,627,125 $ 428,638 State 120,034 78,552 106,623 Current income tax expense 1,592,546 1,705,677 535,261 Deferred: Federal (463,798 ) 8,680 2,434,294 State 124,657 23,617 (93,523 ) Deferred income tax expense (339,141 ) 32,297 2,340,771 Income tax expense $ 1,253,405 $ 1,737,974 $ 2,876,032

Note E - Concentrations (Tables

Note E - Concentrations (Tables)	12 Months Ended
	Sep. 30, 2018
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Year Ended September 30, 2018 2017 2016 United States $ 72,295,000 $ 67,901,000 $ 71,264,000 All Other Countries 5,356,000 6,047,000 4,024,000 Total Net Sales $ 77,651,000 $ 73,948,000 $ 75,288,000

Note F - Acquisition (Tables)

Note F - Acquisition (Tables)	12 Months Ended
	Sep. 30, 2018
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	February 20, 2018 Inventories $ 2,781,000 Property, plant and equipment 58,000 Trademarks 563,000 Customer relationships 3,742,000 Product certification 1,068,000 Goodwill 2,138,000 Total Assets $ 10,350,000
Business Acquisition, Pro Forma Information [Table Text Block]	Pro Forma Pro Forma Net sales $ 89,672,074 $ 80,958,789 Income from operations $ 8,174,841 $ 5,554,766 Net income $ 5,809,018 $ 4,794,757 Net income per share: Basic $ 0.43 $ 0.36 Diluted $ 0.43 $ 0.36

Note A - Summary of Significa_3

Note A - Summary of Significant Accounting Policies (Details Textual)	12 Months Ended
	Sep. 30, 2018USD ($)shares	Sep. 30, 2017USD ($)shares	Sep. 30, 2016USD ($)shares
Depreciation, Total	$ 1,748,945	$ 1,614,272	$ 1,445,910
Number of Reportable Segments			1
Goodwill, Impairment Loss	$ 0	0	$ 0
Number of Patents Granted	15
Amortization of Intangible Assets, Total	$ 298,801	7,822	3,292
Impairment of Long-Lived Assets Held-for-use	0	643,604	0
Unrecognized Tax Benefits, Ending Balance	0		0
Research and Development Expense, Total	787,364	865,568	838,122
Advertising Expense	$ 365,859	$ 378,217	$ 350,399
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares	108,000	0	0
Patents [Member]
Finite-Lived Intangible Asset, Useful Life	20 years	20 years
Maximum [Member] | Patents [Member]
Finite-Lived Intangible Asset, Useful Life		20 years

Note A - Summary of Significa_4

Note A - Summary of Significant Accounting Policies - Maturity Date of CDs (Details) - USD ($)	Sep. 30, 2018	Sep. 30, 2017
Less than one year	$ 8,930,225	$ 5,937,150
1-5 years	17,974,000	19,816,000
Total	$ 26,904,225	$ 25,753,150

Note A - Summary of Significa_5

Note A - Summary of Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Balance at Beginning of Year	$ 79,085	$ 93,473	$ 79,473
Additions Charged to Costs and Expenses			25,000
Less Write-offs		(14,388)	(11,000)
Balance at End of Year	$ 79,085	$ 79,085	$ 93,473

Note A - Summary of Significa_6

Note A - Summary of Significant Accounting Policies - Components of Inventory (Details) - USD ($)	Sep. 30, 2018	Sep. 30, 2017
Raw materials	$ 6,013,166	$ 5,991,863
Work-in-process	560,988	724,248
Finished goods	3,475,981	1,737,456
Inventories, net	$ 10,050,135	$ 8,453,567

Note A - Summary of Significa_7

Note A - Summary of Significant Accounting Policies - Estimated Useful Lives of Assets (Details)	12 Months Ended
	Sep. 30, 2018
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 Significa_8

Note A - Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($)	Sep. 30, 2018	Sep. 30, 2017
Fixed Assets	$ 11,656,153	$ 11,569,001
Less accumulated depreciation	6,911,569	6,134,829
Property, plant and equipment, net	4,744,584	5,434,172
Machinery and Equipment [Member]
Fixed Assets	5,202,532	5,370,962
Office Equipment [Member]
Fixed Assets	3,809,614	3,600,006
Leasehold Improvements [Member]
Fixed Assets	2,417,786	2,404,331
Vehicles [Member]
Fixed Assets	$ 226,221	$ 193,702

Note A - Summary of Significa_9

Note A - Summary of Significant Accounting Policies - Finite Lived Intangible Assets (Details) - USD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Gross carrying amount	$ 5,797,093	$ 300,524
Accumulated amortization	314,538	15,737
Net book value amount	$ 5,482,555	$ 284,787
Customer Relationships [Member]
Useful life (Year)	15 years
Gross carrying amount	$ 3,742,000
Accumulated amortization	155,917
Net book value amount	$ 3,586,083
Patents [Member]
Useful life (Year)	20 years	20 years
Gross carrying amount	$ 393,002	$ 269,433
Accumulated amortization	24,981	15,737
Net book value amount	$ 368,021	$ 253,696
Certification Marks [Member]
Useful life (Year)	8 years
Gross carrying amount	$ 1,068,000
Accumulated amortization	83,437
Net book value amount	$ 984,563
Other Intangible Assets [Member]
Useful life (Year)	5 years	5 years
Gross carrying amount	$ 31,091	$ 31,091
Accumulated amortization	6,219
Net book value amount	$ 24,872	$ 31,091
Trademarks [Member]
Useful life (Year)	8 years
Gross carrying amount	$ 563,000
Accumulated amortization	43,984
Net book value amount	$ 519,016

Note A - Summary of Signific_10

Note A - Summary of Significant Accounting Policies - Future Amortization Expense (Details) - USD ($)	Sep. 30, 2018	Sep. 30, 2017
2,019	$ 471,215
2,020	471,215
2,021	471,215
2,022	471,215
2,023	464,997
Thereafter	3,132,698
Total future amortization expense	$ 5,482,555	$ 284,787

Note A - Summary of Signific_11

Note A - Summary of Significant Accounting Policies - Weighted Average Common Shares Outstanding (Details) - USD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Net income	$ 4,274,547	$ 3,847,839	$ 8,013,062
Weighted average common shares (in shares)	13,429,232	13,532,375	13,372,579
Dilutive potential common shares	$ 23,628	$ 128,431	$ 290,770
Weighted average dilutive common shares outstanding (in shares)	13,452,860	13,660,806	13,663,349
Earnings per share:
Basic (in dollars per share)	$ 0.32	$ 0.28	$ 0.60
Diluted (in dollars per share)	$ 0.32	$ 0.28	$ 0.59

Note B - Commitments and Faci_3

Note B - Commitments and Facilities (Details Textual) - USD ($)	Apr. 25, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Nov. 13, 2014
Operating Leases, Rent Expense, Total		$ 869,000	$ 768,000	$ 658,000
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		$ 5,409,326

Note B - Commitments and Faci_4

Note B - Commitments and Facilities - Future Minimum Lease Payments (Details)	Sep. 30, 2018USD ($)
2,019	$ 593,586
2,020	568,018
2,021	402,123
2,022	412,177
2,023	422,481
Thereafter	615,336
Total minimum lease payments	$ 3,013,721

Note C - Shareholders' Equity_2

Note C - Shareholders' Equity (Details Textual) - USD ($)	3 Months Ended				12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
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					500,000	500,000
Preferred Stock, Shares Issued, Total					0	0
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant					1,003,644
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total					$ 3,522,909
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					6 years 36 days
Allocated Share-based Compensation Expense, Total					$ 2,003,207	$ 2,319,975	$ 1,404,899
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					108,000	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Remaining Contractual Term					4 years 255 days
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					3 years
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price					$ 13.37
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value					$ 4.78
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term					1 year 324 days	2 years 266 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					8,450	15,850
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value					$ 75,767	$ 237,172
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value					$ 331,535
Stock Repurchased During Period, Shares					41,989	75,445
Treasury Stock Acquired, Average Cost Per Share					$ 11.66	$ 12.63
Payments Related to Tax Withholding for Share-based Compensation					$ 489,428	$ 952,832	$ 437,537
Preferred Stock, Shares Outstanding, Ending Balance					0	0
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	87,081
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	15,932	14,242	14,723	11,144
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price	$ 9.39	$ 10.41	$ 11.22	$ 15.21
Payments Related to Tax Withholding for Share-based Compensation					$ 70,905
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					2,250	10,500
Restricted Stock [Member] | Minimum [Member] | Employees [Member] | Stock Compensation Plan 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					1 year
Restricted Stock [Member] | Maximum [Member] | Employees [Member] | Stock Compensation Plan 2007 [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, Total					$ 1,835,086	$ 2,103,621	1,272,656
Cost of Sales [Member]
Allocated Share-based Compensation Expense, Total					$ 168,121	$ 216,354	$ 132,243
Undesignated Shares [Member]
Preferred Stock, Shares Authorized					5,000,000
Series B Preferred Stock [Member]
Preferred Stock, Shares Authorized					500,000
Preferred Stock, Shares Issued, Total					0
Preferred Stock, Shares Outstanding, Ending Balance					0

Note C - Shareholders' Equity -

Note C - Shareholders' Equity - Valuation Assumptions (Details)	12 Months Ended
	Sep. 30, 2018
Dividend yield	0.00%
Weighted average expected volatility	43.68%
Weighted average risk-free interest rate	2.70%
Weighted average expected life (Year)	3 years 255 days
Vesting period (Year)	3 years

Note C - Shareholders' Equity_3

Note C - Shareholders' Equity - Option Transaction Summary (Details) - $ / shares	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Options, outstanding (in shares)	38,950	54,800
Weighted-average exercise price, outstanding (in dollars per share)	$ 2.79	$ 3.13
Granted (in shares)	108,000	0	0
Weighted-average exercise price, Granted (in dollars per share)	$ 13.37
Cancelled or Forfeited (in shares)
Weighted-average exercise price, Cancelled or Forfeited (in dollars per share)
Exercised (in shares)	(8,450)	(15,850)
Weighted-average exercise price, Exercised (in dollars per share)	$ 3.58	$ 3.97
Weighted average fair value, granted (in dollars per share)	$ 4.78
Options, outstanding (in shares)	138,500	38,950	54,800
Weighted-average exercise price, outstanding (in dollars per share)	$ 10.99	$ 2.79	$ 3.13

Note C - Shareholders' Equity_4

Note C - Shareholders' Equity - Options Exercisable (Details) - $ / shares	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Exercisable (in shares)	30,500	38,950
Weighted average remaining contractual life (Year)	1 year 324 days	2 years 266 days
Weighted average exercise price (in dollars per share)	$ 2.58	$ 2.79

Note C - Shareholders' Equity_5

Note C - Shareholders' Equity - Options Currently Outstanding (Details) - USD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Number outstanding (in shares)	138,500	38,950	54,800
Weighted average remaining contractual life (Year)	3 years 299 days	2 years 266 days
Weighted average exercise price (in dollars per share)	$ 10.99	$ 2.79	$ 3.13
Aggregate intrinsic value	$ 340,531	$ 421,237

Note C - Shareholders' Equity_6

Note C - Shareholders' Equity - Restricted Stock Transactions (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Balance, unvested shares (in shares)	370,530	563,570
Balance, weighted-average grant date fair value (in dollars per share)	$ 15.24	$ 14.26
Granted (in shares)	7,235	3,795
Granted (in dollars per share)	$ 14.17	$ 16.45
Vested (in shares)	(113,930)	(185,231)
Vested (in dollars per share)	$ 16.45	$ 12.30
Forfeited (in shares)	(15,222)	(11,604)
Forfeited (in dollars per share)	$ 15.41	$ 14.79
Balance, unvested shares (in shares)	248,613	370,530
Balance, weighted-average grant date fair value (in dollars per share)	$ 14.65	$ 15.24

Note D - Income Taxes (Details

Note D - Income Taxes (Details Textual)	Oct. 01, 2015USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)
Effective Income Tax Rate Reconciliation, Percent, Total					23.00%	31.00%	26.00%
Accrued Income Taxes, Current		$ 464,000			$ 464,000
Income Taxes Receivable, Current						$ 409,000
Deferred Tax Assets, Valuation Allowance, Total		104,858		$ 322,404	104,858	159,154	$ 322,404	$ 658,808
Unrecognized Tax Benefits, Ending Balance		0		0	0		0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total					0	0	0
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Valuation Allowance, Total		105,000			105,000	$ 159,000
Operating Loss Carryforwards, Total		3,468,000			3,468,000
State and Local Jurisdiction [Member] | Research Tax Credit Carryforward [Member]
Tax Credit Carryforward, Amount		198,000			198,000
State and Local Jurisdiction [Member] | Alternative Minimum Tax [Member]
Tax Credit Carryforward, Amount		50,000			50,000
State and Local Jurisdiction [Member] | Research and Development and Alternative Minimum Tax Credit Carryforwards [Member]
Deferred Tax Assets, Valuation Allowance, Total		0			0
State and Local Jurisdiction [Member] | Deferred Tax Assets Related to Operating Loss Carryforwards [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		$ (86,000)	$ 32,000
State and Local Jurisdiction [Member] | Valuation Allowance, Operating Loss Carryforwards, Expired and Utilized [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount					133,000
State and Local Jurisdiction [Member] | Valuation Allowance, Operating Loss Carryforwards, Higher Expected NOL Utilization [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount					$ 47,000
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, Total				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, Total				(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, Total				(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, Total				(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, Total	$ 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, 2018	Sep. 30, 2017	Sep. 30, 2016
Balance at Beginning of Year	$ 159,154	$ 322,404	$ 658,808
Income Tax Benefit	79,377	(32,154)	(78,044)
Reversal for State NOL Expiration and Utilization	(133,673)	(131,096)	(258,360)
Balance at End of Year	$ 104,858	$ 159,154	$ 322,404

Note D - Income Taxes - Signifi

Note D - Income Taxes - Significant Components of Deferred Income Tax Assets and Liabilities (Details) - USD ($)	Sep. 30, 2018	Sep. 30, 2017
Gross long-term deferred tax liability	$ (77)	$ (284,922)
Valuation allowance	(104,858)	(159,154)
Net long-term deferred tax liability	(104,935)	(444,076)
Long-term [Member]
Intangibles	(70,467)	(90,085)
Property and equipment depreciation	(552,119)	(948,653)
Stock-based compensation	151,558	209,645
Goodwill	(583,415)	(866,388)
Short Term [Member]
Net operating loss carry forwards and credits	464,274	551,125
Inventories	400,111	503,632
Prepaid expenses	(60,806)	(48,847)
Accrued expenses and reserves	$ 250,787	$ 404,649

Note D - Income Taxes - Reconci

Note D - Income Taxes - Reconciliation of the Federal Statutory Income Tax Rate (Details)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Federal statutory rate	24.00%	34.00%	34.00%
Federal rate change	(5.00%)
State income taxes	2.00%	1.00%	1.00%
Permanent differences		(1.00%)
Change in valuation allowance	(3.00%)	(4.00%)	(3.00%)
Expiration and utilization of state NOL’s	4.00%	3.00%	2.00%
Research and development credits	(1.00%)	(1.00%)	(1.00%)
Excess tax expense (benefits) from stock-based compensation	2.00%	(1.00%)	(7.00%)
Tax rate	23.00%	31.00%	26.00%

Note D - Income Taxes - Income

Note D - Income Taxes - Income Tax Expense (Benefit) Components (Details) - USD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Current:
Federal	$ 1,472,512	$ 1,627,125	$ 428,638
State	120,034	78,552	106,623
Current income tax expense	1,592,546	1,705,677	535,261
Deferred:
Federal	(463,798)	8,680	2,434,294
State	124,657	23,617	(93,523)
Deferred income tax expense	(339,141)	32,297	2,340,771
Income tax expense	$ 1,253,405	$ 1,737,974	$ 2,876,032

Note E - Concentrations (Detail

Note E - Concentrations (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2018
Property, Plant and Equipment, Net, Ending Balance	$ 5,434,172	$ 4,744,584
MEXICO
Property, Plant and Equipment, Net, Ending Balance	$ 581,396	$ 412,755
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer B [Member]
Concentration Risk, Percentage	19.00%

Note E- Concentrations - Domest

Note E- Concentrations - Domestic and International Sales (Details) - USD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Net sales	$ 77,651,354	$ 73,947,619	$ 75,287,726
Sales Revenue, Net [Member] | Geographic Concentration Risk [Member] | UNITED STATES
Net sales	72,295,000	67,901,000	71,264,000
Sales Revenue, Net [Member] | Geographic Concentration Risk [Member] | Non-US [Member]
Net sales	$ 5,356,000	$ 6,047,000	$ 4,024,000

Note F - Acquisition (Details T

Note F - Acquisition (Details Textual) - USD ($)	Feb. 20, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Payments to Acquire Businesses, Gross		$ 10,350,000
Calix, Inc. [Member]
Business Combination, Consideration Transferred, Total	$ 10,350,000
Payments to Acquire Businesses, Gross	10,350,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities, Total	0
Purchase Obligation, Total	3,500,000
Goodwill, Acquired During Period	2,138,000
Business Acquisition, Transaction Costs	$ 106,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	12 years 182 days

Note F - Acquisition - Summary

Note F - Acquisition - Summary of Estimated Fair Values of Acquired Assets (Details) - USD ($)	Sep. 30, 2018	Feb. 20, 2018	Sep. 30, 2017
Goodwill	$ 4,708,511		$ 2,570,511
Calix, Inc. [Member]
Inventories		$ 2,781,000
Property, plant and equipment		58,000
Goodwill		2,138,000
Total Assets		10,350,000
Calix, Inc. [Member] | Trademarks [Member]
Finite-lived intangible assets		563,000
Calix, Inc. [Member] | Customer Relationships [Member]
Finite-lived intangible assets		3,742,000
Calix, Inc. [Member] | Certification Marks [Member]
Finite-lived intangible assets		$ 1,068,000

Note F - Acquisition - Pro Form

Note F - Acquisition - Pro Forma Information (Details) - Calix, Inc. [Member] - USD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Net sales	$ 80,958,789	$ 89,672,074
Income from operations	5,554,766	8,174,841
Net income	$ 4,794,757	$ 5,809,018
Basic (in dollars per share)	$ 0.36	$ 0.43
Diluted (in dollars per share)	$ 0.36	$ 0.43

Note G - Employee Benefit Plan

Note G - Employee Benefit Plan (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 654,001	$ 652,615	$ 520,530
First Level of Matching [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	100.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	3.00%
Second Level Of Matching [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	50.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	3.00%