Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Jun. 30, 2016 | Aug. 04, 2016 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2016 | |
Document Fiscal Period Focus | Q3 | |
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 Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 9,603,864 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2016 | Sep. 30, 2015 |
Assets | ||
Cash and cash equivalents | $ 11,975 | $ 15,314 |
Receivables, net of allowances of $1,609 at June 30, 2016 and $1,556 at September 30, 2015 | 33,050 | 32,412 |
Inventories | 5,820 | 7,035 |
Deferred income tax assets - current | 4,983 | 4,871 |
Prepaid expenses and other current assets | 2,122 | 2,121 |
Total current assets | 57,950 | 61,753 |
Property, plant and equipment, at cost | 108,233 | 104,322 |
Less accumulated depreciation and amortization | (62,097) | (57,955) |
Property, plant and equipment, net | 46,136 | 46,367 |
Equity in joint ventures | 25,330 | 24,010 |
Goodwill | 33,704 | 35,072 |
Intangible assets, net of accumulated amortization of $11,527 at June 30, 2016 and $38,662 at September 30, 2015 | 9,857 | 13,052 |
Dosimetry devices, net of accumulated depreciation of $6,029 at June 30, 2016 and $5,282 at September 30, 2015 | 3,385 | 3,562 |
Deferred income tax assets | 11,492 | 16,702 |
Other assets | 6,816 | 8,226 |
Total assets | 194,670 | 208,744 |
Liabilities | ||
Accounts payable | 2,931 | 5,773 |
Dividends payable | 2,780 | 2,684 |
Deferred contract revenue | 14,213 | 13,904 |
Accrued compensation and related costs | 8,547 | 8,603 |
Accrued severance | 448 | 972 |
Other accrued expenses | 8,114 | 6,557 |
Total current liabilities | 37,033 | 38,493 |
Long-term debt | 112,300 | 133,385 |
Pension and postretirement obligations | 20,609 | 20,508 |
Deferred income tax liabilities | 112 | 270 |
Uncertain income tax liabilities | 1,499 | 2,310 |
Other non-current liabilities | 249 | 1,451 |
Total liabilities | 171,802 | 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; 9,731,170 and 9,641,532 shares issued and outstanding at June 30, 2016 and September 30, 2015, respectively | 973 | 964 |
Additional paid in capital | 43,320 | 41,531 |
Accumulated other comprehensive loss | (12,215) | (13,741) |
Accumulated deficit | (10,401) | (17,559) |
Landauer, Inc. stockholders' equity | 21,677 | 11,195 |
Noncontrolling interest | 1,191 | 1,132 |
Total stockholders' equity | 22,868 | 12,327 |
Total Liabilities and Stockholders' Equity | $ 194,670 | $ 208,744 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2016 | Sep. 30, 2015 |
Consolidated Balance Sheets [Abstract] | ||
Receivables, allowances | $ 1,609 | $ 1,556 |
Intangible assets, accumulated amortization | 11,527 | 38,662 |
Dosimetry devices, accumulated depreciation | $ 6,029 | $ 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 | 9,731,170 | 9,641,532 |
Common stock, shares outstanding | 9,731,170 | 9,641,532 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Revenues: | ||||
Service revenues | $ 32,344 | $ 31,924 | $ 97,051 | $ 96,223 |
Product revenues | 5,510 | 3,543 | 15,415 | 14,930 |
Total revenues | 37,854 | 35,467 | 112,466 | 111,153 |
Costs and expenses: | ||||
Service costs | 16,032 | 15,531 | 48,708 | 47,323 |
Product costs | 2,304 | 1,290 | 5,970 | 5,860 |
Total cost of sales | 18,336 | 16,821 | 54,678 | 53,183 |
Gross profit | 19,518 | 18,646 | 57,788 | 57,970 |
Selling, general, and administrative | 11,805 | 13,535 | 36,606 | 41,088 |
Operating income | 7,713 | 5,111 | 21,182 | 16,882 |
Equity in income of joint ventures | 244 | 428 | 797 | 1,804 |
Interest expense, net | (703) | (1,080) | (2,765) | (2,997) |
Other (expense) income, net | 3,550 | 158 | 3,493 | (76) |
Income before taxes | 10,804 | 4,617 | 22,707 | 15,613 |
Income tax expense | 3,382 | 481 | 7,074 | 3,271 |
Net income | 7,422 | 4,136 | 15,633 | 12,342 |
Less: Net income attributed to noncontrolling interest | 157 | 81 | 446 | 363 |
Net income attributed to Landauer, Inc. | $ 7,265 | $ 4,055 | $ 15,187 | $ 11,979 |
Net income per share attributable to Landauer, Inc. shareholders: | ||||
Basic | $ 0.76 | $ 0.42 | $ 1.59 | $ 1.26 |
Weighted average basic shares outstanding | 9,531 | 9,509 | 9,523 | 9,476 |
Diluted | $ 0.76 | $ 0.42 | $ 1.58 | $ 1.25 |
Weighted average diluted shares outstanding | 9,564 | 9,534 | 9,555 | 9,503 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Net income | $ 7,422 | $ 4,136 | $ 15,633 | $ 12,342 |
Other comprehensive income: | ||||
Defined benefit pension and postretirement plans activity, net of taxes | 85 | 46 | 257 | 137 |
Unrealized gains (losses) on available-for-sale securities, net of taxes | (195) | 41 | (187) | 43 |
Foreign currency translation adjustment , net of taxes | 796 | 227 | 1,483 | (3,669) |
Comprehensive income | 8,108 | 4,450 | 17,186 | 8,853 |
Landauer, Inc. [Member] | ||||
Net income | 7,265 | 4,055 | 15,187 | 11,979 |
Other comprehensive income: | ||||
Defined benefit pension and postretirement plans activity, net of taxes | 85 | 46 | 257 | 137 |
Unrealized gains (losses) on available-for-sale securities, net of taxes | (195) | 41 | (187) | 43 |
Foreign currency translation adjustment , net of taxes | 793 | 220 | 1,456 | (3,478) |
Comprehensive income | 7,948 | 4,362 | 16,713 | 8,681 |
Non-Controlling Interest [Member] | ||||
Net income | 157 | 81 | 446 | 363 |
Other comprehensive income: | ||||
Foreign currency translation adjustment , net of taxes | 3 | 7 | 27 | (191) |
Comprehensive income | $ 160 | $ 88 | $ 473 | $ 172 |
Consolidated Statements Of Com6
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Consolidated Statements Of Comprehensive Income [Abstract] | ||||
Defined benefit pension and postretirement plans activity, tax | $ 52 | $ 27 | $ 153 | $ 80 |
Unrealized gains/(losses) on available-for-sale securities, tax | 35 | 9 | 34 | 9 |
Foreign currency translation adjustment, tax | $ 427 | $ (184) | $ 784 | $ 1,873 |
Consolidated Statement Of Stock
Consolidated Statement Of Stockholders' Equity - 9 months ended Jun. 30, 2016 - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid In Capital [Member] | Accumulated Other Comprehensive (Loss) Income [Member] | (Accumulated Deficit) 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 | $ 9 | 1,789 | $ 1,798 | |||
Stock-based compensation arrangements, shares | 89,638 | |||||
Dividends | (8,029) | (414) | (8,443) | |||
Net income | 15,187 | 446 | 15,633 | |||
Foreign currency translation adjustment, net of tax | 1,456 | 27 | 1,483 | |||
Unrealized gains (losses) on available-for-sale securities, net of tax | (187) | (187) | ||||
Defined benefit pension and postretirement plans activity, net of taxes | 257 | 257 | ||||
Balance at Jun. 30, 2016 | $ 973 | $ 43,320 | $ (12,215) | $ (10,401) | $ 1,191 | $ 22,868 |
Balance, shares at Jun. 30, 2016 | 9,731,170 | 9,731,170 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Cash flows from operating activities: | ||
Net income | $ 15,633 | $ 12,342 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 8,461 | 9,274 |
Equity in income of joint ventures | (797) | (1,804) |
Dividends from joint ventures | 1,195 | 1,144 |
Stock-based compensation and related net tax benefits | 2,048 | 1,422 |
Current and long-term deferred taxes, net | 3,639 | 769 |
Gain on disposition of business | (3,904) | |
Loss on sale, disposal and abandonment of fixed assets | 368 | 142 |
Gain on investments | (558) | (159) |
Changes in operating assets and liabilities: | ||
(Increase) decrease in accounts receivable, net | (1,771) | 4,393 |
Decrease (increase) in prepaid taxes | 39 | (606) |
Increase in other operating assets, net | (298) | (594) |
Decrease in accounts payable and other accrued liabilities | (1,083) | (3,366) |
Decrease in other operating liabilities, net | (753) | (1,246) |
Net cash provided by operating activities | 22,219 | 21,711 |
Cash flows from investing activities: | ||
Acquisition of property, plant and equipment | (6,845) | (6,224) |
Proceeds from disposition of business | 10,089 | |
Other investing activities, net | 551 | (467) |
Net cash provided by (used in) investing activities | 3,795 | (6,691) |
Cash flows from financing activities: | ||
Long-term borrowings - loan | 13,500 | 26,300 |
Long-term borrowings - repayment | (34,585) | (25,500) |
Dividends paid to stockholders | (7,933) | (13,237) |
Other financing activities, net | (417) | (462) |
Net cash used in financing activities | (29,435) | (12,899) |
Effects of foreign currency translation | 82 | (441) |
Net (decrease) increase in cash and cash equivalents | (3,339) | 1,680 |
Opening balance - cash and cash equivalents | 15,314 | 6,761 |
Ending balance - cash and cash equivalents | 11,975 | 8,441 |
Accrued capital spending included in accounts payable and other accrued liabilities | $ 477 | $ 993 |
Basis Of Presentation And Conso
Basis Of Presentation And Consolidation | 9 Months Ended |
Jun. 30, 2016 | |
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 three and nine month periods ended June 30 , 201 6 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 nine month period ended June 30, 2016 .  Disposition of Business  The Company divested its Medical Products business in May 2016 and received cash proceeds of approximately $10.1 million, net of cash assumed by the acquirer and net of cash paid for transaction expenses. The Company recognized a $3.9 million pre-tax gain on sale from the disposition of this business. The Company has evaluated whether this divestiture qualifies as a discontinued operation pursuant to FASB Accounting Standards Codification 205-20 “Discontinued Operations.” The Company has concluded that the divestiture of the Medical Products business does not represent a strategic shift and is not material to the Company’s financial results and is therefore not considered a discontinued operation.   |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Jun. 30, 2016 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements |  (2) Recent Accounting Pronouncements  Accounting Standards Not Yet Adopted  In May 2014, the Financial Accounting 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 April 2015, the FASB issued new guidance on the presentation of debt issuance costs. This update requires a company to present debt issuance costs related to a recognized debt liability in the balance sheet as a direct deduction from the carrying amount of the related debt liability, consistent with the presentation of debt discounts. Currently, debt issuance costs are presented as a deferred asset. The recognition and measurement requirements will not change as a result of this guidance. The update requires retrospective application and represents a change in accounting principle. This guidance is effective for the Company in the first quarter of fiscal 2017, with early adoption permitted. The Company does not expect the adoption of this guidance will have a material impact on its results of operations, financial position and liquidity.  In July 2015, the FASB issued new guidance on simplifying the measurement of inventory. This update requires a company to measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This guidance is effective for the Company in the first quarter of fiscal 2018, and should be applied prospectively with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its results of operations, financial position and liquidity.  In November 2015, the FASB issued new guidance on the presentation of deferred income taxes. This update requires a company to present deferred tax liabilities and assets as noncurrent in a classified statement of financial position rather than the current requirement to separate deferred income tax liabilities and assets into current and noncurrent amounts. This guidance is effective for the Company in the first quarter of fiscal 2018, with early adoption permitted. The Company does not expect the adoption of this guidance will have a material impact on its results of operations, financial position and liquidity.  In February 2016, the FASB issued guidance on the accounting treatment for leases. This guidance will require all leases with durations greater than twelve months to be recognized on the balance sheet of the lessee. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Classification will be based on criteria that are largely similar to those applied in current lease accounting, but without explicit bright lines. This guidance is effective for the Company in the first quarter of fiscal 2020, although 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 March 2016, the FASB issued guidance on the accounting for equity method investments. This standard eliminates the requirement that when an existing cost method investment qualifies for the use of the equity method, an investor must restate its historical financial statements, as if the equity method had been used during all previous periods. Under the new guidance, at the point an investment qualifies for the equity method, any unrealized gain or loss in accumulated other comprehensive income/(loss) (“AOCI”) will be recognized through earnings. The standard is effective for the Company in the first quarter of fiscal 2018, although 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 March 2016, the FASB issued new guidance to improve the accounting for share-based payments. This standard makes several modifications to Topic 718 related to the accounting for forfeitures, employer tax withholding on share-based compensation and the financial statement presentation of excess tax benefits or deficiencies. The guidance also clarifies the statement of cash flows presentation for certain components of share-based awards. The standard is effective for the Company in the first quarter of fiscal 2018, although 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.  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 | 9 Months Ended |
Jun. 30, 2016 | |
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 June 30, 2016  (Dollars in Thousands) Level 1 Level 2 Level 3  Asset Category  Cash equivalents $ 439 $ - $ -  Mutual funds 3,496 - -  Available-for-sale securities - 6 -  Total financial assets at fair value $ 3,935 $ 6 $ -   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 June 30, 2016 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 is the approximated fair value, as the stated interest rates were variable in relation to prevailing market rates.  The Company had no material assets or liabilities that were measured at fair value on a non-recurring basis during the nine months ended June 30 , 201 6 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 | 9 Months Ended |
Jun. 30, 2016 | |
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 June 30, Nine Months Ended June 30,  (Dollars in Thousands, Except per Share) 2016 2015 2016 2015  Basic Net Income per Share:  Net income attributed to Landauer, Inc. $ 7,265 $ 4,055 $ 15,187 $ 11,979  Less: Income allocated to unvested restricted stock 20 20 59 67  Net income available to common stockholders $ 7,245 $ 4,035 $ 15,128 $ 11,912  Basic weighted average shares outstanding 9,531 9,509 9,523 9,476  Net income per share - Basic $ 0.76 $ 0.42 $ 1.59 $ 1.26   Diluted Net Income per Share:  Net income attributed to Landauer, Inc. $ 7,265 $ 4,055 $ 15,187 $ 11,979  Less: Income allocated to unvested restricted stock 20 20 59 67  Net income available to common stockholders $ 7,245 $ 4,035 $ 15,128 $ 11,912  Basic weighted average shares outstanding 9,531 9,509 9,523 9,476  Effect of dilutive securities 33 25 32 27  Diluted weighted averages shares outstanding 9,564 9,534 9,555 9,503  Net income per share - Diluted $ 0.76 $ 0.42 $ 1.58 $ 1.25   Dividends declared per share $ 0.275 $ 0.275 $ 0.83 $ 1.100  On May 12, 2016 , the Company declared a regular quarterly cash dividend in the amount of $0.275 per share for the third quarter of fiscal 201 6 . The dividends were paid on July 5, 2016 to shareholders of record as of June 17, 2016 . |
Employee Benefit Plans
Employee Benefit Plans | 9 Months Ended |
Jun. 30, 2016 | |
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 June 30, Nine Months Ended June 30,  (Dollars in Thousands) 2016 2015 2016 2015  Interest cost $ 392 $ 364 $ 1,177 $ 1,092  Expected return on plan assets (373) (396) (1,120) (1,188)  Amortization of net loss 141 85 422 253  Net periodic benefit cost $ 160 $ 53 $ 479 $ 157   Other Benefits Three Months Ended June 30, Nine Months Ended June 30,  (Dollars in Thousands) 2016 2015 2016 2015  Service cost $ 15 $ 13 $ 45 $ 38  Interest cost 10 8 29 24  Amortization of net gain (3) (12) (11) (36)  Net periodic benefit cost $ 22 $ 9 $ 63 $ 26  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 provide s for certain 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 June 30 , 201 6 and 201 5 were $494 and $500 , respectively. Amounts expensed for Company contributions under these plans during the nine months ended June 30 , 201 6 and 201 5 were $1,412 and $1,349 , respectively. |
Goodwill And Intangible Assets
Goodwill And Intangible Assets | 9 Months Ended |
Jun. 30, 2016 | |
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 nine months ended 201 6 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 - Goodwill 91 - (784) (693)  Effects of foreign currency - Accumulated impairment losses - - 769 769  Decrease related to dispositions - Goodwill - - (64,743) (64,743)  Decrease related to dispositions - Accumulated impairment losses - - 63,299 63,299  Balance as of June 30, 2016  Goodwill $ 11,093 $ 22,611 $ - $ 33,704  Accumulated impairment losses - - - -  Balance as of June 30, 2016 $ 11,093 $ 22,611 $ - $ 33,704  Intangible assets consisted of the following:    June 30, 2016  (Dollars in Thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Accumulated Intangibles Impairment Charge  Customer lists $ 16,917 $ 10,145 $ 6,772 $ -  Trademarks and tradenames 133 - 133 -  Licenses and patents 3,757 825 2,932 -  Other intangibles 577 557 20 -  Intangible assets $ 21,384 $ 11,527 $ 9,857 $ -      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 $ 453 and $ 1,576 for the three and nine months ended June 30 , 201 6 , respectively, and was $560 and $1,681 for the three and nine months ended June 30 , 201 5 , respectively . |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 9 Months Ended |
Jun. 30, 2016 | |
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 nine months ended June 30 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 1,456 147 - 1,603  Amounts reclassified from accumulated other comprehensive (loss) income - (334) 257 (77)  Net current period other comprehensive (loss) income 1,456 (187) 257 1,526  Balance at June 30, 2016 $ (4,012) $ 72 $ (8,275) $ (12,215)      (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 (3,478) 151 - (3,327)  Amounts reclassified from accumulated other comprehensive (loss) income - (108) 137 29  Net current period other comprehensive (loss) income (3,478) 43 137 (3,298)  Balance at June 30, 2015 $ (5,971) $ 209 $ (7,684) $ (13,446)  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 June 30, Nine Months Ended June 30,  (Dollars in Thousands) 2016 2015 2016 2015  Amortization of net loss $ 137 $ 73 $ 410 $ 217  Total before tax 137 73 410 217  Provision for income taxes 52 27 153 80  Total net of tax $ 85 $ 46 $ 257 $ 137  (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 June 30, Nine Months Ended June 30,  (Dollars in Thousands) 2016 2015 2016 2015  Realized gains on available-for-sale securities into earnings (1) $ (288) $ - $ (393) $ (99)  Total before tax (288) - (393) (99)  Provision for income taxes (2) (43) 9 (59) 9  Total net of tax $ (245) $ 9 $ (334) $ (108)  (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 | 9 Months Ended |
Jun. 30, 2016 | |
Income Taxes [Abstract] | |
Income Taxes | (8) Income Taxes  The effective tax rates for the three months ended June 30, 2016 and 2015 were 31.3% and 10.4% , respectively. The increase in the effective tax rate was primarily due to an overall increase in quarterly pre-tax book income relating to the sale of the Medical Products business which decreased the rate benefit for the realization of an unrecognized tax benefit. Also driving the rate increase was the mix of earnings between taxing jurisdictions. The effective tax rates for the nine months ended June 30, 2016 and 2015 were 31.2% and 21.0% , respectively. The increase in the effective tax rate was primarily due to higher permanent differences related to foreign dividends, the mix of earnings between jurisdictions with differing tax rates and increased pre-tax book income relating to the sale of the Medical Products business. The Company believes it is reasonably possible that $698 of unrecognized tax benefits will be realized in fiscal year 2017.  The May 2016 sale of the Medical Products business, comprised of IZI Medical Products, LLC (“IZI”) and Ilumark GmbH (“Ilumark”), resulted in an ordinary tax loss on the sale of IZI and a capital tax loss on the sale of Ilumark. The ordinary loss on IZI is largely driven by the loss on disposal of intangibles, which converted into a net operating loss carryforward of approximately $50.0 to $60.0 million ( $17.5 to $21.0 million tax effected). The Company expects to fully utilize the net operating loss as an offset to future ordinary income. The sale of Ilumark generated an estimated capital loss carryforward of approximately $600 ( $210 net of tax) which can be offset against future capital gains. The Company does not expect to have any significant capital gains in the next five years, the carryforward period for capital losses, and has recorded a valuation allowance through its third quarter of fiscal 2016 annual estimated tax rate.  |
Segment Information
Segment Information | 9 Months Ended |
Jun. 30, 2016 | |
Segment Information [Abstract] | |
Segment Information | (9) Segment Information  The Company is organized into three reportable business segments: Radiation Measurement, Medical Physics and Medical Products . As disclosed in Note 1 to the Consolidated Financial Statements, Medical Products was divested in May 2016 which resulted in a reduction in revenues and operating income for the three and nine month periods ended June 30, 2016 and the elimination of assets as of June 30, 2016 for the reportable segment. 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 June 30, Nine Months Ended June 30,  (Unaudited, Dollars in Thousands) 2016 2015 2016 2015  Revenues by segment:  Radiation Measurement $ 27,492 $ 24,143 $ 77,716 $ 77,880  Medical Physics 9,562 8,926 28,948 25,971  Medical Products 800 2,398 5,802 7,302  Consolidated revenues $ 37,854 $ 35,467 $ 112,466 $ 111,153   Three Months Ended June 30, Nine Months Ended June 30,  (Unaudited, Dollars in Thousands) 2016 2015 2016 2015  Operating income (loss) by segment:  Radiation Measurement $ 10,294 $ 7,604 $ 29,161 $ 26,402  Medical Physics 756 1,143 2,452 2,082  Medical Products 141 375 1,063 953  Corporate (3,478) (4,011) (11,494) (12,555)  Consolidated operating income $ 7,713 $ 5,111 $ 21,182 $ 16,882     (Dollars in Thousands) June 30, 2016 September 30, 2015  Segment assets:  Radiation Measurement $ 161,305 $ 142,850  Medical Physics 46,241 43,677  Medical Products - 48,308  Eliminations (12,876) (26,091)  Consolidated assets $ 194,670 $ 208,744  |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Jun. 30, 2016 | |
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.  The sales to and purchases from Aquila were as follows :     Three Months Ended June 30, Nine Months Ended June 30,  (Dollars in Thousands) 2016 2015 2016 2015  Sales to Aquila $ 2,653 $ 1 $ 3,067 $ 3,674  Purchases from Aquila 201 165 405 196  Balance sheet items associated with Aquila were as follows:     (Dollars in Thousands) June 30, 2016 September 30, 2015  Amounts in accounts receivable $ 4,318 $ 2,795  Amounts in accounts payable 492 284  The sales to and purchases from Nagase were as follows:     Three Months Ended June 30, Nine Months Ended June 30,  (Dollars in Thousands) 2016 2015 2016 2015  Sales to Nagase $ 1,180 $ 169 $ 3,474 $ 924  Purchases from Nagase 123 472 817 934  Balance sheet items associated with Nagase were as follows:     (Dollars in Thousands) June 30, 2016 September 30, 2015  Amounts in accounts receivable $ 428 $ 769  Amounts in accounts payable 11 33  |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Jun. 30, 2016 | |
Fair Value Measurements [Abstract] | |
Financial Assets Measured At Fair Value On A Recurring Basis |    Fair Value Measurements at June 30, 2016  (Dollars in Thousands) Level 1 Level 2 Level 3  Asset Category  Cash equivalents $ 439 $ - $ -  Mutual funds 3,496 - -  Available-for-sale securities - 6 -  Total financial assets at fair value $ 3,935 $ 6 $ -   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) | 9 Months Ended |
Jun. 30, 2016 | |
Income Per Common Share [Abstract] | |
Computation Of Net Income (Loss) Per Share |    Three Months Ended June 30, Nine Months Ended June 30,  (Dollars in Thousands, Except per Share) 2016 2015 2016 2015  Basic Net Income per Share:  Net income attributed to Landauer, Inc. $ 7,265 $ 4,055 $ 15,187 $ 11,979  Less: Income allocated to unvested restricted stock 20 20 59 67  Net income available to common stockholders $ 7,245 $ 4,035 $ 15,128 $ 11,912  Basic weighted average shares outstanding 9,531 9,509 9,523 9,476  Net income per share - Basic $ 0.76 $ 0.42 $ 1.59 $ 1.26   Diluted Net Income per Share:  Net income attributed to Landauer, Inc. $ 7,265 $ 4,055 $ 15,187 $ 11,979  Less: Income allocated to unvested restricted stock 20 20 59 67  Net income available to common stockholders $ 7,245 $ 4,035 $ 15,128 $ 11,912  Basic weighted average shares outstanding 9,531 9,509 9,523 9,476  Effect of dilutive securities 33 25 32 27  Diluted weighted averages shares outstanding 9,564 9,534 9,555 9,503  Net income per share - Diluted $ 0.76 $ 0.42 $ 1.58 $ 1.25   Dividends declared per share $ 0.275 $ 0.275 $ 0.83 $ 1.100  |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 9 Months Ended |
Jun. 30, 2016 | |
Employee Benefit Plans [Abstract] | |
Schedule Of Net Periodic Benefit Costs |    Pension Benefits Three Months Ended June 30, Nine Months Ended June 30,  (Dollars in Thousands) 2016 2015 2016 2015  Interest cost $ 392 $ 364 $ 1,177 $ 1,092  Expected return on plan assets (373) (396) (1,120) (1,188)  Amortization of net loss 141 85 422 253  Net periodic benefit cost $ 160 $ 53 $ 479 $ 157   Other Benefits Three Months Ended June 30, Nine Months Ended June 30,  (Dollars in Thousands) 2016 2015 2016 2015  Service cost $ 15 $ 13 $ 45 $ 38  Interest cost 10 8 29 24  Amortization of net gain (3) (12) (11) (36)  Net periodic benefit cost $ 22 $ 9 $ 63 $ 26  |
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables) | 9 Months Ended |
Jun. 30, 2016 | |
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 - Goodwill 91 - (784) (693)  Effects of foreign currency - Accumulated impairment losses - - 769 769  Decrease related to dispositions - Goodwill - - (64,743) (64,743)  Decrease related to dispositions - Accumulated impairment losses - - 63,299 63,299  Balance as of June 30, 2016  Goodwill $ 11,093 $ 22,611 $ - $ 33,704  Accumulated impairment losses - - - -  Balance as of June 30, 2016 $ 11,093 $ 22,611 $ - $ 33,704  |
Other Intangible Assets |    June 30, 2016  (Dollars in Thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Accumulated Intangibles Impairment Charge  Customer lists $ 16,917 $ 10,145 $ 6,772 $ -  Trademarks and tradenames 133 - 133 -  Licenses and patents 3,757 825 2,932 -  Other intangibles 577 557 20 -  Intangible assets $ 21,384 $ 11,527 $ 9,857 $ -      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) | 9 Months Ended |
Jun. 30, 2016 | |
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 1,456 147 - 1,603  Amounts reclassified from accumulated other comprehensive (loss) income - (334) 257 (77)  Net current period other comprehensive (loss) income 1,456 (187) 257 1,526  Balance at June 30, 2016 $ (4,012) $ 72 $ (8,275) $ (12,215)      (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 (3,478) 151 - (3,327)  Amounts reclassified from accumulated other comprehensive (loss) income - (108) 137 29  Net current period other comprehensive (loss) income (3,478) 43 137 (3,298)  Balance at June 30, 2015 $ (5,971) $ 209 $ (7,684) $ (13,446)  |
Summary Of Reclassifications Out Of Accumulated Other Comprehensive Income (Loss) |    Pension and Postretirement Plans (1) Three Months Ended June 30, Nine Months Ended June 30,  (Dollars in Thousands) 2016 2015 2016 2015  Amortization of net loss $ 137 $ 73 $ 410 $ 217  Total before tax 137 73 410 217  Provision for income taxes 52 27 153 80  Total net of tax $ 85 $ 46 $ 257 $ 137  (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 June 30, Nine Months Ended June 30,  (Dollars in Thousands) 2016 2015 2016 2015  Realized gains on available-for-sale securities into earnings (1) $ (288) $ - $ (393) $ (99)  Total before tax (288) - (393) (99)  Provision for income taxes (2) (43) 9 (59) 9  Total net of tax $ (245) $ 9 $ (334) $ (108)  (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) | 9 Months Ended |
Jun. 30, 2016 | |
Segment Information [Abstract] | |
Financial Information For Each Reportable Segment |    Three Months Ended June 30, Nine Months Ended June 30,  (Unaudited, Dollars in Thousands) 2016 2015 2016 2015  Revenues by segment:  Radiation Measurement $ 27,492 $ 24,143 $ 77,716 $ 77,880  Medical Physics 9,562 8,926 28,948 25,971  Medical Products 800 2,398 5,802 7,302  Consolidated revenues $ 37,854 $ 35,467 $ 112,466 $ 111,153   Three Months Ended June 30, Nine Months Ended June 30,  (Unaudited, Dollars in Thousands) 2016 2015 2016 2015  Operating income (loss) by segment:  Radiation Measurement $ 10,294 $ 7,604 $ 29,161 $ 26,402  Medical Physics 756 1,143 2,452 2,082  Medical Products 141 375 1,063 953  Corporate (3,478) (4,011) (11,494) (12,555)  Consolidated operating income $ 7,713 $ 5,111 $ 21,182 $ 16,882     (Dollars in Thousands) June 30, 2016 September 30, 2015  Segment assets:  Radiation Measurement $ 161,305 $ 142,850  Medical Physics 46,241 43,677  Medical Products - 48,308  Eliminations (12,876) (26,091)  Consolidated assets $ 194,670 $ 208,744  |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 9 Months Ended |
Jun. 30, 2016 | |
Related Party Transactions [Abstract] | |
Schedule Of Related Party Transactions |      Three Months Ended March 31, Six Months Ended March 31, (Dollars in Thousands) 2016 2015 2016 2015 Sales to Aquila $ 18 $ 1,870 $ 414 $ 3,673 Purchases from Aquila 214 23 204 31     (Dollars in Thousands) March 31, 2016 September 30, 2015 Amounts in accounts receivable $ 1,919 $ 2,795 Amounts in accounts payable 173 284      Three Months Ended March 31, Six Months Ended March 31, (Dollars in Thousands) 2016 2015 2016 2015 Sales to Nagase $ 1,196 $ 109 $ 2,294 $ 755 Purchases from Nagase 99 196 694 462    (Dollars in Thousands) March 31, 2016 September 30, 2015 Amounts in accounts receivable $ 819 $ 769 Amounts in accounts payable 51 33  |
Basis Of Presentation And Con26
Basis Of Presentation And Consolidation (Narrative) (Details) - Disposal Group, Not Discontinued Operations [Member] - Medical Products [Member] $ in Millions | 1 Months Ended |
May 31, 2016USD ($) | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Gross cash proceeds | $ 10.1 |
Pre-tax gain on sale from the disposition | $ 3.9 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Sep. 30, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
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 | Jun. 30, 2016 | Sep. 30, 2015 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | $ 439 | $ 272 |
Mutual funds | 3,496 | 3,237 |
Total financial assets at fair value | 3,935 | 3,509 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 6 | 1,763 |
Total financial assets at fair value | $ 6 | $ 1,763 |
Income Per Common Share (Narrat
Income Per Common Share (Narrative) (Details) | 9 Months Ended |
Jun. 30, 2016$ / shares | |
Income Per Common Share [Abstract] | |
Date declared | May 12, 2016 |
Dividends declared | $ 0.275 |
Date paid | Jul. 5, 2016 |
Date of record | Jun. 17, 2016 |
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 | 9 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Income Per Common Share [Abstract] | ||||
Net income attributed to Landauer, Inc. | $ 7,265 | $ 4,055 | $ 15,187 | $ 11,979 |
Less: Income allocated to unvested restricted stock | 20 | 20 | 59 | 67 |
Net income available to common stockholders | $ 7,245 | $ 4,035 | $ 15,128 | $ 11,912 |
Basic weighted average shares outstanding | 9,531 | 9,509 | 9,523 | 9,476 |
Net income per share - Basic | $ 0.76 | $ 0.42 | $ 1.59 | $ 1.26 |
Effect of dilutive securities | $ 33 | $ 25 | $ 32 | $ 27 |
Diluted weighted averages shares outstanding | 9,564 | 9,534 | 9,555 | 9,503 |
Net income per share - Diluted | $ 0.76 | $ 0.42 | $ 1.58 | $ 1.25 |
Dividends paid per share | $ 0.275 | $ 0.275 | $ 0.83 | $ 1.100 |
Employee Benefit Plans (Narrati
Employee Benefit Plans (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Employee Benefit Plans [Abstract] | ||||
Employer contribution for pension plan during 2016 | $ 0 | |||
Employer contribution for defined contribution plans | $ 494,000 | $ 500,000 | $ 1,412,000 | $ 1,349,000 |
Employee Benefit Plans (Schedul
Employee Benefit Plans (Schedule Of Net Periodic Benefit Costs) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Pension Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | $ 392 | $ 364 | $ 1,177 | $ 1,092 |
Expected return on plan assets | (373) | (396) | (1,120) | (1,188) |
Amortization of net gain (loss) | 141 | 85 | 422 | 253 |
Net periodic benefit cost | 160 | 53 | 479 | 157 |
Other Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 15 | 13 | 45 | 38 |
Interest cost | 10 | 8 | 29 | 24 |
Amortization of net gain (loss) | (3) | (12) | (11) | (36) |
Net periodic benefit cost | $ 22 | $ 9 | $ 63 | $ 26 |
Goodwill And Intangible Asset33
Goodwill And Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Goodwill And Intangible Assets [Abstract] | ||||
Amortization expense | $ 453 | $ 560 | $ 1,576 | $ 1,681 |
Goodwill And Intangible Asset34
Goodwill And Intangible Assets (Changes In The Carrying Amount Of Goodwill, By Reportable Segment) (Details) $ in Thousands | 9 Months Ended |
Jun. 30, 2016USD ($) | |
Goodwill [Line Items] | |
Goodwill | $ 99,140 |
Accumulated Impairment losses | (64,068) |
Goodwill | 35,072 |
Effects of foreign currency - Goodwill | (693) |
Effects of foreign currency - Accumulated impairment losses | 769 |
Decrease related to dispositions - Goodwill | (64,743) |
Decrease related to dispositions - Accumulated impairment losses | 63,299 |
Goodwill | 33,704 |
Goodwill | 33,704 |
Radiation Measurement [Member] | |
Goodwill [Line Items] | |
Goodwill | 11,002 |
Goodwill | 11,002 |
Effects of foreign currency - Goodwill | 91 |
Goodwill | 11,093 |
Goodwill | 11,093 |
Medical Physics [Member] | |
Goodwill [Line Items] | |
Goodwill | 22,611 |
Goodwill | 22,611 |
Goodwill | 22,611 |
Goodwill | 22,611 |
Medical Products [Member] | |
Goodwill [Line Items] | |
Goodwill | 65,527 |
Accumulated Impairment losses | (64,068) |
Goodwill | 1,459 |
Effects of foreign currency - Goodwill | (784) |
Effects of foreign currency - Accumulated impairment losses | 769 |
Decrease related to dispositions - Goodwill | (64,743) |
Decrease related to dispositions - Accumulated impairment losses | $ 63,299 |
Goodwill And Intangible Asset35
Goodwill And Intangible Assets (Other Intangible Assets) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2015 | Jun. 30, 2016 | |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 51,714 | $ 21,384 |
Accumulated Amortization | 38,662 | 11,527 |
Net Carrying Amount | 13,052 | 9,857 |
Accumulated Intangibles Impairment Charge | 20,820 | |
Customer Lists [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 43,131 | 16,917 |
Accumulated Amortization | 33,716 | 10,145 |
Net Carrying Amount | 9,415 | 6,772 |
Accumulated Intangibles Impairment Charge | 18,657 | |
Trademarks And Tradenames [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 2,181 | 133 |
Accumulated Amortization | 2,051 | |
Net Carrying Amount | 130 | 133 |
Accumulated Intangibles Impairment Charge | 1,498 | |
Licenses And Patents [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 5,825 | 3,757 |
Accumulated Amortization | 2,338 | 825 |
Net Carrying Amount | 3,487 | 2,932 |
Accumulated Intangibles Impairment Charge | 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 Comprehensi36
Accumulated Other Comprehensive Loss (Changes In Each Component Of AOCI) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Balance | $ (13,741) | $ (10,148) |
Other comprehensive (loss) income before reclassifications | 1,603 | (3,327) |
Amounts reclassified from accumulated other comprehensive (loss) income | (77) | 29 |
Net current period other comprehensive (loss) income | 1,526 | (3,298) |
Balance | (12,215) | (13,446) |
Foreign Currency Translation Adjustments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Balance | (5,468) | (2,493) |
Other comprehensive (loss) income before reclassifications | 1,456 | (3,478) |
Net current period other comprehensive (loss) income | 1,456 | (3,478) |
Balance | (4,012) | (5,971) |
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 | 147 | 151 |
Amounts reclassified from accumulated other comprehensive (loss) income | (334) | (108) |
Net current period other comprehensive (loss) income | (187) | 43 |
Balance | 72 | 209 |
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 | 257 | 137 |
Net current period other comprehensive (loss) income | 257 | 137 |
Balance | $ (8,275) | $ (7,684) |
Accumulated Other Comprehensi37
Accumulated Other Comprehensive Loss (Summary Of Reclassifications Out Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Provision for income taxes | $ 52 | $ 27 | $ 153 | $ 80 | |
Total net of tax | (85) | (46) | (257) | (137) | |
Total net of tax | (195) | 41 | (187) | 43 | |
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] | 137 | 73 | 410 | 217 |
Total before tax | [1] | 137 | 73 | 410 | 217 |
Provision for income taxes | [1] | 52 | 27 | 153 | 80 |
Total net of tax | [1] | 85 | 46 | 257 | 137 |
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] | (288) | (393) | (99) | |
Total before tax | (288) | (393) | (99) | ||
Provision for income taxes | [3] | (43) | 9 | (59) | 9 |
Total net of tax | $ (245) | $ 9 | $ (334) | $ (108) | |
[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 | 9 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | May 31, 2016 | |
Income Taxes [Line Items] | |||||
Effective tax rate | 31.30% | 10.40% | 31.20% | 21.00% | |
Unrecognized tax benefits and related interest and penalties expected to reverse within the next | $ 698 | $ 698 | |||
Capital loss carryforward | $ 600,000 | ||||
Capital loss carryforward tax effected | 210,000 | ||||
Minimum [Member] | |||||
Income Taxes [Line Items] | |||||
Operating loss carryforward | 50,000 | ||||
Operating loss carryforward tax effected | 17,500 | ||||
Maximum [Member] | |||||
Income Taxes [Line Items] | |||||
Operating loss carryforward | 60,000 | ||||
Operating loss carryforward tax effected | $ 21,000 |
Segment Information (Details)
Segment Information (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($)segment | Jun. 30, 2015USD ($) | Sep. 30, 2015USD ($) | |
Segment Reporting Information [Line Items] | |||||
Reporting segments | segment | 3 | ||||
Consolidated revenues | $ 37,854 | $ 35,467 | $ 112,466 | $ 111,153 | |
Consolidated operating income | 7,713 | 5,111 | 21,182 | 16,882 | |
Consolidated Assets | 194,670 | 194,670 | $ 208,744 | ||
Eliminations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Consolidated Assets | (12,876) | (12,876) | (26,091) | ||
Radiation Measurement [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Consolidated revenues | 27,492 | 24,143 | 77,716 | 77,880 | |
Consolidated operating income | 10,294 | 7,604 | 29,161 | 26,402 | |
Consolidated Assets | 161,305 | 161,305 | 142,850 | ||
Medical Physics [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Consolidated revenues | 9,562 | 8,926 | 28,948 | 25,971 | |
Consolidated operating income | 756 | 1,143 | 2,452 | 2,082 | |
Consolidated Assets | 46,241 | 46,241 | 43,677 | ||
Medical Products [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Consolidated revenues | 800 | 2,398 | 5,802 | 7,302 | |
Consolidated operating income | 141 | 375 | 1,063 | 953 | |
Consolidated Assets | $ 48,308 | ||||
Corporate [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Consolidated operating income | $ (3,478) | $ (4,011) | $ (11,494) | $ (12,555) |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) | Jun. 30, 2015 |
Nagase-Landauer, Ltd. [Member] | |
Related Party Transaction [Line Items] | |
Equity interest | 50.00% |
Related Party Transactions (Sch
Related Party Transactions (Schedule Of Related Party Transactions) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Sep. 30, 2015 | |
Aquila [Member] | |||||
Related Party Transaction [Line Items] | |||||
Sales to related party | $ 2,653 | $ 1 | $ 3,067 | $ 3,674 | |
Purchases from related party | 201 | 165 | 405 | 196 | |
Amounts in accounts receivable | 4,318 | 4,318 | $ 2,795 | ||
Amounts in accounts payable | 492 | 492 | 284 | ||
Nagase-Landauer, Ltd. [Member] | |||||
Related Party Transaction [Line Items] | |||||
Sales to related party | 1,180 | 169 | 3,474 | 924 | |
Purchases from related party | 123 | $ 472 | 817 | $ 934 | |
Amounts in accounts receivable | 428 | 428 | 769 | ||
Amounts in accounts payable | $ 11 | $ 11 | $ 33 |