Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Dec. 31, 2015 | Feb. 05, 2016 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2015 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2,016 | |
Entity Registrant Name | LANDAUER INC | |
Trading Symbol | ldr | |
Entity Central Index Key | 825,410 | |
Current Fiscal Year End Date | --09-30 | |
Entity Voluntary Filers | No | |
Entity Filer Category | Accelerated Filer | |
Entity Well-known Seasoned Issuer | No | |
Entity Current Reporting Status | Yes | |
Entity Common Stock, Shares Outstanding | 9,581,743 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Assets | ||
Cash and cash equivalents | $ 9,540 | $ 15,314 |
Receivables, net of allowances of $1,608 at December 31, 2015 and $1,556 at September 30, 2015 | 32,058 | 32,412 |
Inventories | 7,195 | 7,035 |
Deferred income tax assets - current | 4,862 | 4,871 |
Prepaid expenses and other current assets | 2,728 | 2,121 |
Total current assets | 56,383 | 61,753 |
Property, plant and equipment, at cost | 105,826 | 104,322 |
Less accumulated depreciation and amortization | (59,759) | (57,955) |
Property, plant and equipment, net | 46,067 | 46,367 |
Equity in joint ventures | 23,026 | 24,010 |
Goodwill | 34,868 | 35,072 |
Intangible assets, net of accumulated amortization of $38,964 at December 31, 2015 and $38,662 at September 30, 2015 | 12,839 | 13,052 |
Dosimetry devices, net of accumulated depreciation of $5,508 at December 31, 2015 and $5,282 at September 30, 2015 | 3,411 | 3,562 |
Deferred income tax assets | 16,132 | 16,702 |
Other assets | 8,959 | 8,226 |
Total assets | 201,685 | 208,744 |
Liabilities | ||
Accounts payable | 5,165 | 5,773 |
Dividends payable | 2,710 | 2,684 |
Deferred contract revenue | 13,503 | 13,904 |
Accrued compensation and related costs | 6,885 | 8,603 |
Accrued severance | 717 | 972 |
Other accrued expenses | 7,454 | 6,557 |
Total current liabilities | 36,434 | 38,493 |
Non-current liabilities: | ||
Long-term debt | 127,685 | 133,385 |
Pension and postretirement obligations | 20,878 | 20,508 |
Deferred income tax liabilities | 260 | 270 |
Uncertain income tax liabilities | 2,380 | 2,310 |
Other non-current liabilities | 733 | 1,451 |
Total liabilities | $ 188,370 | $ 196,417 |
Commitments and Contingencies | ||
Stockholders’ equity: | ||
Preferred stock, $0.10 par value per share, authorized 1,000,000 shares; none issued | ||
Common stock, $0.10 par value per share, authorized 20,000,000 shares; 9,709,519 and 9,641,532 shares issued and outstanding at December 31, 2015 and September 30, 2015, respectively | $ 971 | $ 964 |
Additional paid in capital | 41,918 | 41,531 |
Accumulated other comprehensive loss | (14,089) | (13,741) |
Accumulated deficit | (16,590) | (17,559) |
Landauer, Inc. stockholders' equity | 12,210 | 11,195 |
Noncontrolling interest | 1,105 | 1,132 |
Total stockholders' equity | 13,315 | 12,327 |
Total Liabilities and Stockholders' Equity | $ 201,685 | $ 208,744 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Consolidated Balance Sheets [Abstract] | ||
Receivables, allowances | $ 1,608 | $ 1,556 |
Intangible assets, accumulated amortization | 38,964 | 38,662 |
Dosimetry devices, accumulated depreciation | $ 5,508 | $ 5,282 |
Preferred stock, par value | $ 0.10 | $ 0.10 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $ 0.10 | $ 0.10 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 9,709,519 | 9,641,532 |
Common stock, shares outstanding | 9,709,519 | 9,641,532 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Revenues: | ||
Service revenues | $ 31,545 | $ 32,057 |
Product revenues | 4,985 | 5,490 |
Total revenues | 36,530 | 37,547 |
Costs and expenses: | ||
Service costs | 16,178 | 15,634 |
Product costs | 1,837 | 2,117 |
Total cost of sales | 18,015 | 17,751 |
Gross profit | 18,515 | 19,796 |
Selling, general, and administrative | 12,263 | 13,655 |
Operating income | 6,252 | 6,141 |
Equity in income of joint ventures | 301 | 696 |
Interest expense, net | (933) | (953) |
Other (expense) income, net | (160) | 251 |
Income before taxes | 5,460 | 6,135 |
Income tax expense | 1,687 | 1,610 |
Net income | 3,773 | 4,525 |
Less: Net income attributed to noncontrolling interest | 130 | 148 |
Net income attributed to Landauer, Inc. | $ 3,643 | $ 4,377 |
Net income (loss) per share attributable to Landauer, Inc. shareholders: | ||
Net income per share - Basic | $ 0.38 | $ 0.46 |
Weighted average basic shares outstanding | 9,460 | 9,446 |
Diluted | $ 0.38 | $ 0.46 |
Weighted average diluted shares outstanding | 9,492 | 9,474 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Net income | $ 3,773 | $ 4,525 |
Other comprehensive income: | ||
Defined benefit pension and postretirement plans activity, net of taxes | 44 | 72 |
Unrealized gains (losses) on available-for-sale securities, net of taxes | (75) | (35) |
Foreign currency translation adjustment , net of taxes | (315) | (1,870) |
Comprehensive (loss) income | 3,427 | 2,692 |
Landauer, Inc. [Member] | ||
Net income | 3,643 | 4,377 |
Other comprehensive income: | ||
Defined benefit pension and postretirement plans activity, net of taxes | 44 | 72 |
Unrealized gains (losses) on available-for-sale securities, net of taxes | (75) | (35) |
Foreign currency translation adjustment , net of taxes | (317) | (1,771) |
Comprehensive (loss) income | 3,295 | 2,643 |
Non-Controlling Interest [Member] | ||
Net income | 130 | 148 |
Other comprehensive income: | ||
Foreign currency translation adjustment , net of taxes | 2 | (99) |
Comprehensive (loss) income | $ 132 | $ 49 |
Consolidated Statements Of Com6
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Consolidated Statements Of Comprehensive Income [Abstract] | ||
Defined benefit pension and postretirement plans activity, tax | $ 25 | $ 0 |
Unrealized gains/(losses) on available-for-sale securities, tax | 23 | 0 |
Foreign currency translation adjustment, tax | $ 162 | $ 954 |
Consolidated Statement Of Stock
Consolidated Statement Of Stockholders' Equity - 3 months ended Dec. 31, 2015 - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid In Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Retained Earnings [Member] | Non-Controlling Interest [Member] | Total |
Balance at Sep. 30, 2015 | $ 964 | $ 41,531 | $ (13,741) | $ (17,559) | $ 1,132 | $ 12,327 |
Balance, shares at Sep. 30, 2015 | 9,641,532 | 9,641,532 | ||||
Stock-based compensation arrangements | $ 7 | 387 | $ 394 | |||
Stock-based compensation arrangements, shares | 67,987 | |||||
Dividends | (2,674) | (159) | (2,833) | |||
Net income | 3,643 | 130 | 3,773 | |||
Foreign currency translation adjustment, net of tax | (317) | 2 | (315) | |||
Unrealized gains (losses) on available-for-sale securities, net of tax | (75) | (75) | ||||
Defined benefit pension and postretirement plans activity, net of tax | 44 | 44 | ||||
Balance at Dec. 31, 2015 | $ 971 | $ 41,918 | $ (14,089) | $ (16,590) | $ 1,105 | $ 13,315 |
Balance, shares at Dec. 31, 2015 | 9,709,519 | 9,709,519 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from operating activities: | ||
Net income | $ 3,773 | $ 4,525 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 2,797 | 3,078 |
Equity in income of joint ventures | (301) | (696) |
Dividends from joint ventures | 1,195 | 1,139 |
Stock-based compensation and related net tax benefits | 457 | 437 |
Current and long-term deferred taxes, net | 632 | (1,195) |
Gain on sale, disposal and abandonment of fixed assets | (9) | (3) |
Gain on investments | (190) | (111) |
Changes in operating assets and liabilities: | ||
Decrease in accounts receivable, net | 224 | 4,985 |
Decrease (increase) in prepaid taxes | 40 | (214) |
Increase in other operating assets, net | (982) | (1,437) |
Decrease in accounts payable and other accrued liabilities | (2,052) | (971) |
Increase (decrease) in other operating liabilities, net | 357 | (53) |
Net cash provided by operating activities | 5,941 | 9,484 |
Cash flows from investing activities: | ||
Acquisition of property, plant and equipment | (1,534) | (1,384) |
Payment of transaction expenses associated with divestiture of business | (472) | |
Other investing activities, net | (923) | (315) |
Net cash used in investing activities | (2,929) | (1,699) |
Cash flows from financing activities: | ||
Long-term borrowings - loan | 7,000 | 8,800 |
Long-term borrowings - repayment | (12,700) | (8,800) |
Dividends paid to stockholders | (2,651) | (5,347) |
Other financing activities, net | (156) | (331) |
Net cash used in financing activities | (8,507) | (5,678) |
Effects of foreign currency translation | (279) | (471) |
Net (decrease) increase in cash and cash equivalents | (5,774) | 1,636 |
Opening balance - cash and cash equivalents | 15,314 | 6,761 |
Ending balance - cash and cash equivalents | 9,540 | 8,397 |
Accrued capital spending included in accounts payable and other accrued liabilities | $ 1,153 | $ 205 |
Basis Of Presentation And Conso
Basis Of Presentation And Consolidation | 3 Months Ended |
Dec. 31, 2015 | |
Basis Of Presentation And Consolidation [Abstract] | |
Basis Of Presentation And Consolidation | (1) Basis of Presentation and Consolidation As used herein, the terms “Company,” “Landauer,” “we,” “us,” and “our” refer collectively to Landauer, Inc. and its subsidiaries through which its various businesses are conducted. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and the instructions to Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The consolidated financial statements include the accounts of the Company, its subsidiaries and variable interest entities in which the Company has a controlling financial interest. All intercompany balances and transactions have been eliminated in consolidation. Entities in which the Company does not have a controlling financial interest, but is considered to have significant influence, are accounted for on the equity method. The preparation of the interim consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the interim consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. We believe that we have included all normal recurring adjustments necessary for a fair presentation of the results for the interim period. Operating results for the quarter ended December 31 , 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending September 30, 201 6 . These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 201 5 (the “Form 10-K”) and other financial information filed with the Securities and Exchange Commission (the “SEC”). The September 30, 201 5 balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The accounting policies followed by the Company are set forth in the Form 10-K, and there have been no changes to the accounting policies for the three- month period ended December 31 , 2015 . |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Dec. 31, 2015 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | (2) Recent Accounting Pronouncements Accounting Standards Not Yet Adopted In May 2014, the Financial Accountin g Standards Board (“FASB” ) issued new guidance for recognizing revenue from contracts with customers, which provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most current revenue recognition guidance. In July 2015, the FASB deferred the effective date of the new revenue standard by one year. Public companies would now be required to adopt the new guidance for fiscal years , and interim periods within those fiscal years , beginning after December 15, 2017. The FASB decided to allow earlier adoption of the new revenue standard, but not earlier than the original effective date . This guidance is effective for the Company in the first quarter of fiscal 2019. The Company is currently evaluating the impact that adoption of this guidance will have on its results of operations, financial position and liquidity. In June 2014, the FASB issued new guidance on accounting for share-based payments requiring a specific performance target to be achieved in order for employees to become eligible to vest in the awards when that performance target may be achieved after the requisite service period for the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period for which the requisite service has already been rendered. This guidance is effective for the Company in the first quarter of fiscal 2017. Early adoption is permitted. The Company is currently evaluating the impact that adoption of this guidance will have on its results of operations, financial position and liquidity. In January 2016, the FASB issued guidance on the recognition and measurement of financial instruments. This guidance retains the current accounting for classifying and measuring investments in debt securities and loans, but requires equity investments to be measured at fair value with subsequent changes recognized in net income, except for those accounted for under the equity method or requiring consolidation. The guidance also changes the accounting for investments without a readily determinable fair value and that do not qualify for the practical expedient to estimate fair value. A policy election can be made for these investments whereby estimated fair value may be measured at cost and adjusted in subsequent periods for any impairment or changes in observable prices of identical or similar investments. This guidance is effective for the Company in the first quarter of fiscal 2019. The Company is currently evaluating the impact that adoption of this guidance will have on its results of operations, financial position and liquidity. No other new accounting pronouncement issued or effective during the fiscal year had, or is expected to have, a material impact on the Consolidated Financial Statements. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Dec. 31, 2015 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | (3) Fair Value Measurements The Company estimate s the fair value of assets and liabilities in accordance with the framework established by the authoritative guidance for fair value measurements . The framework is based on the inputs used in valuation, gives the highest priority to quoted prices in active markets and requires that observable inputs be used in the valuations when available. The disclosure of fair value estimates in the fair value accounting guidance hierarchy is based on whether the significant inputs int o the valuation are observable. In determining the level of the hierarchy in which the estimate is disclosed, the highest priority is given to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs that reflect the Company’s significant market assumptions. The level in the fair value hierarchy within which the fair value measurement is reported is based on the lowest level input that is significant to t he measurement in its entirety. The three levels of the hierarchy are as follows: · Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access as of the reporting date . · Level 2 – I nputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. · Level 3 – Unobservable inputs for the asset or liability used to measure fair value that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Financial assets measured at fair value on a recurring basis are summarized below: Fair Value Measurements at December 31, 2015 (Dollars in Thousands) Level 1 Level 2 Level 3 Asset Category Cash equivalents $ 240 $ - $ - Mutual funds 4,009 - - Available-for-sale securities - 1,935 - Total financial assets at fair value $ 4,249 $ 1,935 $ - Fair Value Measurements at September 30, 2015 (Dollars in Thousands) Level 1 Level 2 Level 3 Asset Category Cash equivalents $ 272 $ - $ - Mutual funds 3,237 - - Available-for-sale securities - 1,763 - Total financial assets at fair value $ 3,509 $ 1,763 $ - Following is a description of each category in the fair value hierarchy and the financial assets and liabilities of the Company that were included in each category at December 31, 2015 and September 30, 2015, measured on a recurring basis. The Level 1 financial assets were comprised of investments in trading securities, which are reported in other long-term assets. The investments are held in a Rabbi trust for benefits under the Company’s deferred compensation plan. Under the plan, participants designate investment options to serve as the basis for measurement of the notional value of their accounts. The investments include a money market fund and mutual funds that are publicly traded. The fair values of the shares or underlying securities of these funds are based on quoted market prices. The Level 2 financial assets are long-term investments consisting primarily of fixed income mutual funds, classified as available-for-sale securities. These investments are reported in other long-term assets. The investments in fixed income mutual funds are valued based on the net asset value of the underlying securities as provided by the investment account manager. The investments are not restricted or subject to a lockup and may be redeemed on demand. Notice within a certain period of time prior to redemption is not required. The Company’s long-term debt is classified as Level 2. The carrying amount of the Company’s long-term debt approximated fair value as the stated interest rates were variable in relation to prevailing market rates. The Company recorded a liability for contingent consideration during the second quarter of fiscal 2014 related to the acquisition of ilumark GmbH and the launch of its new medical products. The liability was recorded at fair value, which was determined using a discounted cash flow model based on assumptions and projections relevant to revenues. A discount rate of 11% was used and payments are projected to occur in fiscal 2016 and 2017. The contingent consideration liability is classified as Level 3. The Company had no material assets or liabilities that were measured at fair value on a non-recurring basis during the three months ended December 31 , 2015 or fiscal year ended September 3 0 , 201 5 . There were no transfers between fair value hierarchy levels during these periods. |
Income Per Common Share
Income Per Common Share | 3 Months Ended |
Dec. 31, 2015 | |
Income Per Common Share [Abstract] | |
Income Per Common Share | (4) Income per Common Share Basic net income per share was computed by dividing net income available to common stockholders for the period by the weighted average number of shares of common stock outstanding during the period. Diluted net income per share was computed by dividing net income available to common stockholders for the period by the weighted average number of shares of common stock that would have been outstanding assuming dilution from stock-based compensation awards during the period. The following table sets forth the computation of net income per share: Three Months Ended December 31, (Dollars in Thousands, Except per Share) 2015 2014 Basic Net Income per Share: Net income attributed to Landauer, Inc. $ 3,643 $ 4,377 Less: Income allocated to unvested restricted stock 18 29 Net income available to common stockholders $ 3,625 $ 4,348 Basic weighted average shares outstanding 9,460 9,446 Net income per share - Basic $ 0.38 $ 0.46 Diluted Net Income per Share: Net income attributed to Landauer, Inc. $ 3,643 $ 4,377 Less: Income allocated to unvested restricted stock 18 29 Net income available to common stockholders $ 3,625 $ 4,348 Basic weighted average shares outstanding 9,460 9,446 Effect of dilutive securities 32 28 Diluted weighted averages shares outstanding 9,492 9,474 Net income per share - Diluted $ 0.38 $ 0.46 Dividends paid per share $ 0.275 $ 0.55 On December 4, 2015 , the Company declared a regular quarterly cash dividend in the amount of $0.275 per share for the first quarter of fiscal 201 6 . The dividends were paid on January 5, 2016 to shareholders of record as of December 18, 2015 . |
Employee Benefit Plans
Employee Benefit Plans | 3 Months Ended |
Dec. 31, 2015 | |
Employee Benefit Plans [Abstract] | |
Employee Benefit Plans | (5) Employee Benefit Plans The components of net periodic benefit cost for pension and other benefits were as follows: Pension Benefits Three Months Ended December 31, (Dollars in Thousands) 2015 2014 Interest cost $ 392 $ 364 Expected return on plan assets (373) (396) Amortization of net loss 141 84 Net periodic benefit cost $ 160 $ 52 Other Benefits Three Months Ended December 31, (Dollars in Thousands) 2015 2014 Service cost $ 15 $ 13 Interest cost 10 8 Amortization of net gain (4) (12) Net periodic benefit cost $ 21 $ 9 The Company, under the IRS minimum funding standards, has no required contributions to make to its defined benefit pension plan during fiscal 201 6 . The Company sponsors a 401(k) r etirement s avings p lan covering substantially all of the U.S. full-time employees in the Company’s Radiation Measurement segment as well as substantially all of the employees in the Company’s Medical Physics and Medical Products segments , which may provide for employer matching contributions . The Company also maintains a supplemental defined contribution plan for certain executives, which allows participating executives to make voluntary deferrals and provides for employer contributions at the discretion of the Company. Amounts expensed for Company contributions under these plans during the three months ended December 31 , 2015 and 2014 were $419 and $407 , respectively. |
Goodwill And Intangible Assets
Goodwill And Intangible Assets | 3 Months Ended |
Dec. 31, 2015 | |
Goodwill And Intangible Assets [Abstract] | |
Goodwill And Intangible Assets | (6) Goodwill and Intangible Assets Changes in the carrying amount of goodwill , by reportable segment , for the three months ended December 31 , 2015 were as follows: (Dollars in Thousands) Radiation Measurement Medical Physics Medical Products Total Balance as of September 30, 2015 Goodwill $ 11,002 $ 22,611 $ 65,527 $ 99,140 Accumulated impairment losses - - (64,068) (64,068) Balance as of September 30, 2015 $ 11,002 $ 22,611 $ 1,459 $ 35,072 Effects of foreign currency (162) - (42) (204) Balance as of December 31, 2015 Goodwill $ 10,840 $ 22,611 $ 65,485 $ 98,936 Accumulated impairment losses - - (64,068) (64,068) Balance as of December 31, 2015 $ 10,840 $ 22,611 $ 1,417 $ 34,868 Intangible assets consisted of the following: December 31, 2015 (Dollars in Thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Accumulated Intangibles Impairment Charge Customer lists $ 42,955 $ 33,942 $ 9,013 $ 18,657 Trademarks and tradenames 2,182 2,051 131 1,498 Licenses and patents 6,089 2,414 3,675 665 Other intangibles 577 557 20 - Intangible assets $ 51,803 $ 38,964 $ 12,839 $ 20,820 September 30, 2015 (Dollars in Thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Accumulated Intangibles Impairment Charge Customer lists $ 43,131 $ 33,716 $ 9,415 $ 18,657 Trademarks and tradenames 2,181 2,051 130 1,498 Licenses and patents 5,825 2,338 3,487 665 Other intangibles 577 557 20 - Intangible assets $ 51,714 $ 38,662 $ 13,052 $ 20,820 Identifiable intangible assets with finite lives are amortized over their estimated useful lives. Intangible asset amortization expense was $ 555 and $ 563 for the three months ended December 31 , 2015 and 2014 , respectively . |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 3 Months Ended |
Dec. 31, 2015 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Accumulated Other Comprehensive Loss | (7) Accumulated Other Comprehensive Loss Accumulated elements of other comprehensive loss, net of tax, are included in the stockholders’ equity section of the condensed consolidated balance sheets. Changes in each component for the three months ended December 31 are as follows: (Dollars in Thousands) Foreign Currency Translation Adjustments Unrealized Gains and Losses on Available-for-Sale Securities Pension and Postretirement Plans Comprehensive (Loss) Income Balance at September 30, 2015 $ (5,468) $ 259 $ (8,532) $ (13,741) Other comprehensive (loss) income before reclassifications (317) 14 - (303) Amounts reclassified from accumulated other comprehensive (loss) income - (89) 44 (45) Net current period other comprehensive (loss) income (317) (75) 44 (348) Balance at December 31, 2015 $ (5,785) $ 184 $ (8,488) $ (14,089) (Dollars in Thousands) Foreign Currency Translation Adjustments Unrealized Gains and Losses on Available-for-Sale Securities Pension and Postretirement Plans Comprehensive (Loss) Income Balance at September 30, 2014 $ (2,493) $ 166 $ (7,821) $ (10,148) Other comprehensive (loss) income before reclassifications (1,771) 57 - (1,714) Amounts reclassified from accumulated other comprehensive (loss) income - (92) 72 (20) Net current period other comprehensive (loss) income (1,771) (35) 72 (1,734) Balance at December 31, 2014 $ (4,264) $ 131 $ (7,749) $ (11,882) The tables below present the impact on net income of significant amounts reclassified out of each component of accumulated other comprehensive loss: Pension and Postretirement Plans (1) Three Months Ended December 31, (Dollars in Thousands) 2015 2014 Amortization of net loss $ 69 $ 72 Total before tax 69 72 Provision for income taxes 25 - Total net of tax $ 44 $ 72 (1) These accumulated other comprehensive loss components are included in the computation of net periodic benefit costs (refer to Note 5 of the Notes to Consolidated Financial Statements for additional details regarding employee benefit plans). Unrealized Gains and Losses on Available-for-Sale Securities Three Months Ended December 31, (Dollars in Thousands) 2015 2014 Realized gains on available-for-sale securities into earnings (1) $ (105) $ (92) Total before tax (105) (92) Provision for income taxes (2) (16) - Total net of tax $ (89) $ (92) (1) This amount is reported in Interest expense, net on the Consolidated Statements of Operations (2) This amount is reported in Income tax expense on the Consolidated Statements of Operations |
Income Taxes
Income Taxes | 3 Months Ended |
Dec. 31, 2015 | |
Income Taxes [Abstract] | |
Income Taxes | (8) Income Taxes The effective tax rates for the three months ended December 31, 2015 and 2014 were 30.9% and 26.2% , respectively. The increase in the effective tax rate was primarily due to the mix of earnings between jurisdictions with differing tax rates. The Company believes it is reasonably possible that $640 of unrecognized tax benefits will be realized in fiscal year 2016. |
Segment Information
Segment Information | 3 Months Ended |
Dec. 31, 2015 | |
Segment Information [Abstract] | |
Segment Information | (9) Segment Information The Company is organized into three reportable business segments: Radiation Measurement, Medical Physics and Medical Products . These segments reflect the manner in which the Company’s businesses are currently managed and represent an aggregation of services and products based on type of customer and how the business es are marketed. For more information regarding the nature of the Company’s services and products , see N ote 1 6 of the N otes to C onsolidated F inancial S tatements in the Form 10-K . The following tables summarize financial information for each reportable segment: Three Months Ended December 31, (Unaudited, Dollars in Thousands) 2015 2014 Revenues by segment: Radiation Measurement $ 24,704 $ 26,491 Medical Physics 9,353 8,484 Medical Products 2,473 2,572 Consolidated revenues $ 36,530 $ 37,547 Three Months Ended December 31, (Unaudited, Dollars in Thousands) 2015 2014 Operating income (loss) by segment: Radiation Measurement $ 8,898 $ 9,384 Medical Physics 778 618 Medical Products 490 334 Corporate (3,914) (4,195) Consolidated operating income $ 6,252 $ 6,141 (Dollars in Thousands) December 31, 2015 September 30, 2015 Segment assets: Radiation Measurement $ 136,571 $ 142,850 Medical Physics 44,475 43,677 Medical Products 47,907 48,308 Eliminations (27,268) (26,091) Consolidated assets $ 201,685 $ 208,744 |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | (10) Related Party Transactions The Company has a minority interest in Yamasato, Fujiwara, Higa & Associates, Inc. doing business as Aquila. The Company provides dosimetry parts to Aqu ila for its military contract . The Company also has a 50% equity interest in Nagase-Landauer, Ltd. (“Nagase”), a radiation measurement company in Japan. In connection with the preparation of the consolidated financial statements for the interim periods ended March 31, 2015, the Company identified an error in its previously issued financial st atements for the interim period ended December 31 , 2014. The Company did not properly report sales to related parties in its Related Party Transactions footnote. As a result of th is error, the Company understated sales to Nagase by $616 as previously reported for the three months ended Dec ember 3 1 , 2014. In accordance with accounting guidance presented in SAB 99, management assessed the materiality of th is error and concluded that it was not material to the Company’s financial statements for the three months ended December 31 , 2014. The sales to and purchases from Aquila were as follows for the periods ended: Three Months Ended December 31, (Dollars in Thousands) 2015 2014 Sales to Aquila $ 396 $ 1,743 Purchases from Aquila (10) 8 Balance sheet items associated with Aquila were as follows: (Dollars in Thousands) December 31, 2015 September 30, 2015 Amounts in accounts receivable $ 2,440 $ 2,795 Amounts in accounts payable 54 284 The sales to and purchases from Nagase were as follows for the periods ended . Sales to Nagase for the three months ended December 31, 2014 has been corrected for the error discussed above. Three Months Ended December 31, (Dollars in Thousands) 2015 2014 Sales to Nagase $ 1,098 $ 646 Purchases from Nagase 595 266 Balance sheet items associated with Nagase were as follows: (Dollars in Thousands) December 31, 2015 September 30, 2015 Amounts in accounts receivable $ 881 $ 769 Amounts in accounts payable 160 33 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Fair Value Measurements [Abstract] | |
Financial Assets Measured At Fair Value On A Recurring Basis | Fair Value Measurements at December 31, 2015 (Dollars in Thousands) Level 1 Level 2 Level 3 Asset Category Cash equivalents $ 240 $ - $ - Mutual funds 4,009 - - Available-for-sale securities - 1,935 - Total financial assets at fair value $ 4,249 $ 1,935 $ - Fair Value Measurements at September 30, 2015 (Dollars in Thousands) Level 1 Level 2 Level 3 Asset Category Cash equivalents $ 272 $ - $ - Mutual funds 3,237 - - Available-for-sale securities - 1,763 - Total financial assets at fair value $ 3,509 $ 1,763 $ - |
Income Per Common Share (Tables
Income Per Common Share (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Income Per Common Share [Abstract] | |
Computation Of Net Income (Loss) Per Share | Three Months Ended December 31, (Dollars in Thousands, Except per Share) 2015 2014 Basic Net Income per Share: Net income attributed to Landauer, Inc. $ 3,643 $ 4,377 Less: Income allocated to unvested restricted stock 18 29 Net income available to common stockholders $ 3,625 $ 4,348 Basic weighted average shares outstanding 9,460 9,446 Net income per share - Basic $ 0.38 $ 0.46 Diluted Net Income per Share: Net income attributed to Landauer, Inc. $ 3,643 $ 4,377 Less: Income allocated to unvested restricted stock 18 29 Net income available to common stockholders $ 3,625 $ 4,348 Basic weighted average shares outstanding 9,460 9,446 Effect of dilutive securities 32 28 Diluted weighted averages shares outstanding 9,492 9,474 Net income per share - Diluted $ 0.38 $ 0.46 Dividends paid per share $ 0.275 $ 0.55 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Employee Benefit Plans [Abstract] | |
Schedule Of Net Periodic Benefit Costs | Pension Benefits Three Months Ended December 31, (Dollars in Thousands) 2015 2014 Interest cost $ 392 $ 364 Expected return on plan assets (373) (396) Amortization of net loss 141 84 Net periodic benefit cost $ 160 $ 52 Other Benefits Three Months Ended December 31, (Dollars in Thousands) 2015 2014 Service cost $ 15 $ 13 Interest cost 10 8 Amortization of net gain (4) (12) Net periodic benefit cost $ 21 $ 9 |
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Goodwill And Intangible Assets [Abstract] | |
Changes In The Carrying Amount Of Goodwill, By Reportable Segment | (Dollars in Thousands) Radiation Measurement Medical Physics Medical Products Total Balance as of September 30, 2015 Goodwill $ 11,002 $ 22,611 $ 65,527 $ 99,140 Accumulated impairment losses - - (64,068) (64,068) Balance as of September 30, 2015 $ 11,002 $ 22,611 $ 1,459 $ 35,072 Effects of foreign currency (162) - (42) (204) Balance as of December 31, 2015 Goodwill $ 10,840 $ 22,611 $ 65,485 $ 98,936 Accumulated impairment losses - - (64,068) (64,068) Balance as of December 31, 2015 $ 10,840 $ 22,611 $ 1,417 $ 34,868 |
Other Intangible Assets | December 31, 2015 (Dollars in Thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Accumulated Intangibles Impairment Charge Customer lists $ 42,955 $ 33,942 $ 9,013 $ 18,657 Trademarks and tradenames 2,182 2,051 131 1,498 Licenses and patents 6,089 2,414 3,675 665 Other intangibles 577 557 20 - Intangible assets $ 51,803 $ 38,964 $ 12,839 $ 20,820 September 30, 2015 (Dollars in Thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Accumulated Intangibles Impairment Charge Customer lists $ 43,131 $ 33,716 $ 9,415 $ 18,657 Trademarks and tradenames 2,181 2,051 130 1,498 Licenses and patents 5,825 2,338 3,487 665 Other intangibles 577 557 20 - Intangible assets $ 51,714 $ 38,662 $ 13,052 $ 20,820 |
Accumulated Other Comprehensi23
Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Changes In Each Component Of AOCI | (Dollars in Thousands) Foreign Currency Translation Adjustments Unrealized Gains and Losses on Available-for-Sale Securities Pension and Postretirement Plans Comprehensive (Loss) Income Balance at September 30, 2015 $ (5,468) $ 259 $ (8,532) $ (13,741) Other comprehensive (loss) income before reclassifications (317) 14 - (303) Amounts reclassified from accumulated other comprehensive (loss) income - (89) 44 (45) Net current period other comprehensive (loss) income (317) (75) 44 (348) Balance at December 31, 2015 $ (5,785) $ 184 $ (8,488) $ (14,089) (Dollars in Thousands) Foreign Currency Translation Adjustments Unrealized Gains and Losses on Available-for-Sale Securities Pension and Postretirement Plans Comprehensive (Loss) Income Balance at September 30, 2014 $ (2,493) $ 166 $ (7,821) $ (10,148) Other comprehensive (loss) income before reclassifications (1,771) 57 - (1,714) Amounts reclassified from accumulated other comprehensive (loss) income - (92) 72 (20) Net current period other comprehensive (loss) income (1,771) (35) 72 (1,734) Balance at December 31, 2014 $ (4,264) $ 131 $ (7,749) $ (11,882) |
Summary Of Reclassifications Out Of Accumulated Other Comprehensive Income (Loss) | Pension and Postretirement Plans (1) Three Months Ended December 31, (Dollars in Thousands) 2015 2014 Amortization of net loss $ 69 $ 72 Total before tax 69 72 Provision for income taxes 25 - Total net of tax $ 44 $ 72 (1) These accumulated other comprehensive loss components are included in the computation of net periodic benefit costs (refer to Note 5 of the Notes to Consolidated Financial Statements for additional details regarding employee benefit plans). Unrealized Gains and Losses on Available-for-Sale Securities Three Months Ended December 31, (Dollars in Thousands) 2015 2014 Realized gains on available-for-sale securities into earnings (1) $ (105) $ (92) Total before tax (105) (92) Provision for income taxes (2) (16) - Total net of tax $ (89) $ (92) (1) This amount is reported in Interest expense, net on the Consolidated Statements of Operations (2) This amount is reported in Income tax expense on the Consolidated Statements of Operations |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Segment Information [Abstract] | |
Financial Information For Each Reportable Segment | Three Months Ended December 31, (Unaudited, Dollars in Thousands) 2015 2014 Revenues by segment: Radiation Measurement $ 24,704 $ 26,491 Medical Physics 9,353 8,484 Medical Products 2,473 2,572 Consolidated revenues $ 36,530 $ 37,547 Three Months Ended December 31, (Unaudited, Dollars in Thousands) 2015 2014 Operating income (loss) by segment: Radiation Measurement $ 8,898 $ 9,384 Medical Physics 778 618 Medical Products 490 334 Corporate (3,914) (4,195) Consolidated operating income $ 6,252 $ 6,141 (Dollars in Thousands) December 31, 2015 September 30, 2015 Segment assets: Radiation Measurement $ 136,571 $ 142,850 Medical Physics 44,475 43,677 Medical Products 47,907 48,308 Eliminations (27,268) (26,091) Consolidated assets $ 201,685 $ 208,744 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Schedule Of Related Party Transactions | Three Months Ended June 30, Nine Months Ended June 30, (Dollars in Thousands) 2015 2014 2015 2014 Sales to Aquila $ 1 $ - $ 3,674 $ 681 Purchases from Aquila 165 348 196 601 (Dollars in Thousands) June 30, 2015 September 30, 2014 Amounts in accounts receivable $ 875 $ 3,799 Amounts in accounts payable 161 227 Three Months Ended June 30, Nine Months Ended June 30, (Dollars in Thousands) 2015 2014 2015 2014 Sales to Nagase $ 169 $ 276 $ 924 $ 897 Purchases from Nagase 472 672 934 1,472 (Dollars in Thousands) June 30, 2015 September 30, 2014 Amounts in accounts receivable $ 158 $ 27 Amounts in accounts payable 65 60 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) | 3 Months Ended | |
Dec. 31, 2015 | Sep. 30, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 11.00% | |
Transfers between fair value hierarchy levels | $ 0 | $ 0 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets & liabilities | $ 0 | $ 0 |
Fair Value Measurements (Financ
Fair Value Measurements (Financial Assets Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | $ 240 | $ 272 |
Mutual funds | 4,009 | 3,237 |
Total financial assets at fair value | 4,249 | 3,509 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 1,935 | 1,763 |
Total financial assets at fair value | $ 1,935 | $ 1,763 |
Income Per Common Share (Narrat
Income Per Common Share (Narrative) (Details) | 3 Months Ended |
Dec. 31, 2015$ / shares | |
Income Per Common Share [Abstract] | |
Date declared | Dec. 4, 2015 |
Dividends declared | $ 0.275 |
Date of record | Dec. 18, 2015 |
Income Per Common Share (Comput
Income Per Common Share (Computation Of Net Income (Loss) Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Income Per Common Share [Abstract] | ||
Net income attributed to Landauer, Inc. | $ 3,643 | $ 4,377 |
Less: Income allocated to unvested restricted stock | 18 | 29 |
Net income (loss) available to common stockholders | $ 3,625 | $ 4,348 |
Basic weighted average shares outstanding | 9,460 | 9,446 |
Net income per share - Basic | $ 0.38 | $ 0.46 |
Effect of dilutive securities | $ 32 | $ 28 |
Diluted weighted averages shares outstanding | 9,492 | 9,474 |
Net income per share - Diluted | $ 0.38 | $ 0.46 |
Dividends paid per share | $ 0.275 | $ 0.55 |
Employee Benefit Plans (Narrati
Employee Benefit Plans (Narrative) (Details) - USD ($) | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Employee Benefit Plans [Abstract] | ||
Employer contribution for pension plan during 2016 | $ 0 | |
Employer contribution for defined contribution plans | $ 419,000 | $ 407,000 |
Employee Benefit Plans (Schedul
Employee Benefit Plans (Schedule Of Net Periodic Benefit Costs) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Pension Benefits [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Interest cost | $ 392 | $ 364 |
Expected return on plan assets | (373) | (396) |
Amortization of net gain (loss) | 141 | 84 |
Net periodic benefit cost | 160 | 52 |
Other Postretirement Benefit Plans Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 15 | 13 |
Interest cost | 10 | 8 |
Amortization of net gain (loss) | (4) | (12) |
Net periodic benefit cost | $ 21 | $ 9 |
Goodwill And Intangible Asset32
Goodwill And Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill And Intangible Assets [Abstract] | ||
Amortization expense | $ 555 | $ 563 |
Goodwill And Intangible Asset33
Goodwill And Intangible Assets (Changes In The Carrying Amount Of Goodwill, By Reportable Segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2015 | |
Goodwill [Line Items] | ||
Goodwill | $ 99,140 | $ 98,936 |
Accumulated goodwill impairment | (64,068) | (64,068) |
Goodwill | 35,072 | 34,868 |
Effects of foreign currency | (204) | |
Radiation Measurement [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 11,002 | 10,840 |
Goodwill | 11,002 | 10,840 |
Effects of foreign currency | (162) | |
Medical Physics [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 22,611 | 22,611 |
Goodwill | 22,611 | 22,611 |
Medical Products [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 65,527 | 65,485 |
Accumulated goodwill impairment | (64,068) | (64,068) |
Goodwill | 1,459 | $ 1,417 |
Effects of foreign currency | $ (42) |
Goodwill And Intangible Asset34
Goodwill And Intangible Assets (Other Intangible Assets) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Sep. 30, 2015 | |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 51,803 | $ 51,714 |
Accumulated Amortization | 38,964 | 38,662 |
Net Carrying Amount | 12,839 | 13,052 |
Accumulated Intangibles Impairment Charge | 20,820 | 20,820 |
Customer Lists [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 42,955 | 43,131 |
Accumulated Amortization | 33,942 | 33,716 |
Net Carrying Amount | 9,013 | 9,415 |
Accumulated Intangibles Impairment Charge | 18,657 | 18,657 |
Trademarks And Tradenames [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 2,182 | 2,181 |
Accumulated Amortization | 2,051 | 2,051 |
Net Carrying Amount | 131 | 130 |
Accumulated Intangibles Impairment Charge | 1,498 | 1,498 |
Licenses And Patents [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 6,089 | 5,825 |
Accumulated Amortization | 2,414 | 2,338 |
Net Carrying Amount | 3,675 | 3,487 |
Accumulated Intangibles Impairment Charge | 665 | 665 |
Other Intangibles [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 577 | 577 |
Accumulated Amortization | 557 | 557 |
Net Carrying Amount | $ 20 | $ 20 |
Accumulated Other Comprehensi35
Accumulated Other Comprehensive Loss (Changes In Each Component Of AOCI) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Balance | $ (13,741) | $ (10,148) |
Other comprehensive (loss) income before reclassifications | (303) | (1,714) |
Amounts reclassified from accumulated other comprehensive (loss) income | (45) | (20) |
Net current period other comprehensive (loss) income | (348) | (1,734) |
Balance | (14,089) | (11,882) |
Foreign Currency Translation Adjustments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Balance | (5,468) | (2,493) |
Other comprehensive (loss) income before reclassifications | (317) | (1,771) |
Net current period other comprehensive (loss) income | (317) | (1,771) |
Balance | (5,785) | (4,264) |
Unrealized Gains and Losses on Available-for-Sale Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Balance | 259 | 166 |
Other comprehensive (loss) income before reclassifications | 14 | 57 |
Amounts reclassified from accumulated other comprehensive (loss) income | (89) | (92) |
Net current period other comprehensive (loss) income | (75) | (35) |
Balance | 184 | 131 |
Pension And Postretirement Plans [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Balance | (8,532) | (7,821) |
Amounts reclassified from accumulated other comprehensive (loss) income | 44 | 72 |
Net current period other comprehensive (loss) income | 44 | 72 |
Balance | $ (8,488) | $ (7,749) |
Accumulated Other Comprehensi36
Accumulated Other Comprehensive Loss (Summary Of Reclassifications Out Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Provision for income taxes | $ 25 | $ 0 | |
Total net of tax | (44) | (72) | |
Total net of tax | (75) | (35) | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension And Postretirement Plans [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Amortization of net loss | [1] | 69 | 72 |
Total before tax | [1] | 69 | $ 72 |
Provision for income taxes | [1] | 25 | |
Total net of tax | [1] | 44 | $ 72 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gains and Losses on Available-for-Sale Securities [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Realized gains on available-for-sale securities into earnings | [2] | (105) | (92) |
Total before tax | (105) | $ (92) | |
Provision for income taxes | [3] | (16) | |
Total net of tax | $ (89) | $ (92) | |
[1] | These accumulated other comprehensive loss components are included in the computation of net periodic benefit costs (refer to Note 5 of the Notes to Consolidated Financial Statements for additional details regarding employee benefit plans). | ||
[2] | This amount is reported in Interest expense, net on the Consolidated Statements of Operations | ||
[3] | This amount is reported in Income tax expense on the Consolidated Statements of Operations |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Income Taxes [Abstract] | ||
Effective tax rate | 30.90% | 26.20% |
Unrecognized tax benefits and related interest and penalties expected to reverse within the next | $ 640 |
Segment Information (Details)
Segment Information (Details) $ in Thousands | 3 Months Ended | ||
Dec. 31, 2015USD ($)segment | Dec. 31, 2014USD ($) | Sep. 30, 2015USD ($) | |
Segment Reporting Information [Line Items] | |||
Reporting segments | segment | 3 | ||
Consolidated revenues | $ 36,530 | $ 37,547 | |
Consolidated operating income | 6,252 | 6,141 | |
Consolidated Assets | 201,685 | $ 208,744 | |
Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated Assets | (27,268) | (26,091) | |
Radiation Measurement [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated revenues | 24,704 | 26,491 | |
Consolidated operating income | 8,898 | 9,384 | |
Consolidated Assets | 136,571 | 142,850 | |
Medical Physics [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated revenues | 9,353 | 8,484 | |
Consolidated operating income | 778 | 618 | |
Consolidated Assets | 44,475 | 43,677 | |
Medical Products [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated revenues | 2,473 | 2,572 | |
Consolidated operating income | 490 | 334 | |
Consolidated Assets | 47,907 | $ 48,308 | |
Corporate [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated operating income | $ (3,914) | $ (4,195) |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Aquila [Member] | |||
Related Party Transaction [Line Items] | |||
Sales to related party | $ 396 | $ 1,743 | |
Nagase-Landauer, Ltd. [Member] | |||
Related Party Transaction [Line Items] | |||
Equity interest | 50.00% | ||
Sales to related party | $ 1,098 | $ 646 | |
Adjustment [Member] | Revenue From Related Parties [Member] | Nagase-Landauer, Ltd. [Member] | |||
Related Party Transaction [Line Items] | |||
Sales to related party | $ 616 |
Related Party Transactions (Sch
Related Party Transactions (Schedule Of Related Party Transactions) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2015 | |
Aquila [Member] | |||
Related Party Transaction [Line Items] | |||
Sales to related party | $ 396 | $ 1,743 | |
Purchases from related party | (10) | 8 | |
Amounts in accounts receivable | 2,440 | $ 2,795 | |
Amounts in accounts payable | 54 | 284 | |
Nagase-Landauer, Ltd. [Member] | |||
Related Party Transaction [Line Items] | |||
Sales to related party | 1,098 | 646 | |
Purchases from related party | 595 | $ 266 | |
Amounts in accounts receivable | 881 | 769 | |
Amounts in accounts payable | $ 160 | $ 33 |