Haynes International (HAYN) 10-Q 7 Aug 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Jun. 30, 2014	Aug. 07, 2014
Document and Entity Information	'	'
Entity Registrant Name	'HAYNES INTERNATIONAL INC	'
Entity Central Index Key	'0000858655	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--09-30	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	12,418,471
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$52,398	$68,326
Accounts receivable, less allowance for doubtful accounts of $1,199 and $930,	77,717	82,562
Inventories	247,590	232,157
Income taxes receivable	3,791	4,433
Deferred income taxes	6,888	6,018
Other current assets	3,131	2,408
Total current assets	391,515	395,904
Property, plant and equipment, net	173,541	152,764
Deferred income taxes-long term portion	42,475	41,301
Prepayments and deferred charges	2,167	2,282
Other intangible assets, net	5,289	5,601
Total assets	614,987	597,852
Current liabilities:	'	'
Accounts payable	51,232	27,600
Accrued expenses	12,903	13,676
Accrued postretirement benefits	4,918	4,918
Deferred revenue-current portion	2,500	2,500
Total current liabilities	71,553	48,694
Long-term obligations (less current portion)	767	767
Deferred revenue (less current portion)	28,454	30,329
Accrued pension and postretirement benefits	161,635	162,259
Total liabilities	262,409	242,049
Commitments and contingencies (Note 6)	'	'
Stockholders' equity:	'	'
Common stock, $0.001 par value (40,000,000 shares authorized, 12,342,585 and 12,434,748 shares issued, 12,332,592 and 12,418,471 shares outstanding at September 30, 2013 and June 30, 2014, respectively)	12	12
Preferred stock, $0.001 par value (20,000,000 shares authorized, 0 shares issued and outstanding)	'	'
Additional paid-in capital	241,925	238,941
Accumulated earnings	163,361	174,154
Treasury stock, 9,993 shares at September 30, 2013 and 16,277 shares at June 30, 2014	-840	-505
Accumulated other comprehensive loss	-51,880	-56,799
Total stockholders' equity	352,578	355,803
Total liabilities and stockholders' equity	$614,987	$597,852

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Sep. 30, 2013
In Thousands, except Share data, unless otherwise specified
CONSOLIDATED BALANCE SHEETS	'	'
Accounts receivable, allowance for doubtful accounts (in dollars)	$930	$1,199
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	12,434,748	12,342,585
Common stock, shares outstanding (in shares)	12,418,471	12,332,592
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock, shares (in shares)	16,277	9,993

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
CONSOLIDATED STATEMENTS OF OPERATIONS	'	'	'	'
Net revenues	$126,293	$123,587	$335,343	$367,088
Cost of sales	112,232	104,982	306,968	309,625
Gross profit	14,061	18,605	28,375	57,463
Selling, general and administrative expense	10,085	9,761	29,523	28,986
Research and technical expense	867	853	2,630	2,563
Operating income (loss)	3,109	7,991	-3,778	25,914
Interest income	-30	-29	-117	-83
Interest expense	17	18	56	52
Income (loss) before income taxes	3,122	8,002	-3,717	25,945
Provision for (benefit from) income taxes	1,026	2,705	-1,098	8,377
Net income (loss)	$2,096	$5,297	($2,619)	$17,568
Net income (loss) per share:	'	'	'	'
Basic (in dollars per share)	$0.17	$0.43	($0.21)	$1.43
Diluted (in dollars per share)	$0.17	$0.43	($0.21)	$1.42
Dividend declared per common share (in dollars per share)	$0.22	$0.22	$0.66	$0.66

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - 10-Q (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)	'	'	'	'
Net income (loss)	$2,096	$5,297	($2,619)	$17,568
Other comprehensive income (loss), net of tax:	'	'	'	'
Pension and post-retirement	711	4,304	2,134	4,304
Foreign currency translation adjustment	1,104	240	2,785	-2,160
Comprehensive income	$3,911	$9,841	$2,300	$19,712

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:	'	'
Net income (loss)	($2,619)	$17,568
Adjustments to reconcile net income (loss) to net cash provided by operating activities:	'	'
Depreciation	11,425	9,975
Amortization	312	312
Pension and post-retirement expense - U.S. and U.K.	7,822	12,094
Stock compensation expense	1,489	1,197
Excess tax benefit from option exercises and restricted stock vesting	-432	-494
Deferred revenue	-1,875	-1,875
Deferred income taxes	-3,978	2,250
Loss on disposition of property	245	183
Change in assets and liabilities:	'	'
Accounts receivable	6,236	9,072
Inventories	-13,855	5,500
Other assets	-594	-567
Accounts payable and accrued expenses	23,280	-4,502
Income taxes	1,712	2,633
Accrued pension and postretirement benefits	-5,056	-15,155
Net cash provided by operating activities	24,112	38,191
Cash flows from investing activities:	'	'
Additions to property, plant and equipment	-33,317	-33,650
Net cash used in investing activities	-33,317	-33,650
Cash flows from financing activities:	'	'
Dividends paid	-8,174	-8,136
Proceeds from exercise of stock options	1,063	598
Payment for purchase of treasury stock	-335	-505
Excess tax benefit from option exercises and restricted stock vesting	432	494
Net cash used in financing activities	-7,014	-7,549
Effect of exchange rates on cash	291	-166
Decrease in cash and cash equivalents	-15,928	-3,174
Cash and cash equivalents:	'	'
Cash and cash equivalents, beginning of period	68,326	46,740
Cash and cash equivalents, end of period	52,398	43,566
Cash paid during period for:	'	'
Interest (net of capitalized interest)	4	4
Income taxes paid (net of refunds)	983	3,354
Capital expenditures incurred but not yet paid	$1,964	$2,272

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Jun. 30, 2014
Basis of Presentation	'
Basis of Presentation	'
	Note 1.Basis of Presentation
	Interim Financial Statements
	The accompanying unaudited condensed interim consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America and such principles are applied on a basis consistent with information reflected in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2013 filed with the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations promulgated by the SEC related to interim financial statements. In the opinion of management, the interim financial information includes all adjustments and accruals, consisting only of normal recurring adjustments, which are necessary for a fair presentation of results for the respective interim periods. The results of operations for the three or nine months ended June 30, 2014 are not necessarily indicative of the results to be expected for the full fiscal year ending September 30, 2014 or any interim period.
	Principles of Consolidation
	The consolidated financial statements include the accounts of Haynes International, Inc. and its directly and indirectly wholly-owned subsidiaries (collectively, the “Company”). All intercompany transactions and balances are eliminated.

New_Accounting_Pronouncements

New Accounting Pronouncements	9 Months Ended
	Jun. 30, 2014
New Accounting Pronouncements	'
New Accounting Pronouncements	'
	Note 2.New Accounting Pronouncements
	In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The objective of the update is to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. It is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The Company is currently evaluating the methods of adoption allowed by the new standard and the effect the standard is expected to have on our consolidated financial position, results of operations or cash flows and related disclosures.

Inventories

Inventories	9 Months Ended
	Jun. 30, 2014
Inventories	'
Inventories	'
	Note 3.Inventories
	The following is a summary of the major classes of inventories:
		September 30,		June 30,
		2013		2014
	Raw Materials	$	25,647	$	19,870
	Work-in-process	108,708		141,397
	Finished Goods	97,150		85,349
	Other	652		974
		$	232,157	$	247,590

Income_Taxes

Income Taxes	9 Months Ended
	Jun. 30, 2014
Income Taxes	'
Income Taxes	'
	Note 4.Income Taxes
	Income tax expense for the three and nine months ended June 30, 2013 and 2014 differed from the U.S. federal statutory rate of 35% primarily due to state income taxes and differing tax rates on foreign earnings. The effective tax rate for the three months ended June 30, 2014 was 32.9% compared to 33.8% in the same period of fiscal 2013. The effective tax rate for the nine months ended June 30, 2014 was 29.5% compared to 32.3% in the same period of fiscal 2013.

Pension_and_Postretirement_Ben

Pension and Post-retirement Benefits	9 Months Ended
	Jun. 30, 2014
Pension and Post-retirement Benefits	'
Pension and Post-retirement Benefits	'
	Note 5.Pension and Post-retirement Benefits
	Components of net periodic pension and post-retirement benefit cost for the three and nine months ended June 30, 2013 and 2014 were as follows:
		Three Months Ended June 30,												Nine Months Ended June 30,
		Pension Benefits						Other Benefits						Pension Benefits						Other Benefits
		2013			2014			2013			2014			2013			2014			2013			2014
	Service cost	$	1,220		$	993		$	97		$	67		$	3,661		$	2,978		$	291		$	200
	Interest cost	2,556			2,953			1,082			1,144			7,751			8,653			3,246			3,433
	Expected return	(3,138		)	(3,702		)	—			—			(9,500		)	(10,846		)	—			—
	Amortizations	2,727			1,368			(518		)	(224		)	8,198			4,077			(1,553		)	(673		)
	Net periodic benefit cost	$	3,365		$	1,612		$	661		$	987		$	10,110		$	4,862		$	1,984		$	2,960
	The Company contributed $1,250 to Company-sponsored domestic pension plans, $2,987 to its other post-retirement benefit plans and $770 to the U.K. pension plan for the nine months ended June 30, 2014.  The Company presently expects future contributions of zero to its domestic pension plans, $1,836 to its other post-retirement benefit plans and $200 to the U.K. pension plan for the remainder of fiscal 2014.

Legal_Environmental_and_Other_

Legal, Environmental and Other Contingencies	9 Months Ended
	Jun. 30, 2014
Legal, Environmental and Other Contingencies	'
Legal, Environmental and Other Contingencies	'
	Note 6. Legal, Environmental and Other Contingencies
	The Company is regularly involved in litigation, both as a plaintiff and as a defendant, relating to its business and operations, including environmental, employment and intellectual property matters. Future expenditures for environmental, employment, intellectual property and other legal matters cannot be determined with any degree of certainty; however, based on the facts presently known, management does not believe that such costs will have a material effect on the Company’s financial position, results of operations or cash flows.
	The Company is currently, and in the past has been, subject to claims involving personal injuries allegedly relating to its products. For example, the Company is presently involved in two actions involving welding rod-related injuries, which were filed in California state court against numerous manufacturers, including the Company, in May 2006 and February 2007, respectively, alleging that the welding-related products of the defendant manufacturers harmed the users of such products through the inhalation of welding fumes containing manganese. The Company believes that it has defenses to these allegations and that, if the Company were to be found liable, the cases would not have a material effect on its financial position, results of operations or cash flows.
	The Company has received permits from the Indiana Department of Environmental Management, or IDEM, to close and to provide post-closure monitoring and care for certain areas at the Kokomo facility previously used for the storage and disposal of wastes, some of which are classified as hazardous under applicable regulations. Closure certification was received in fiscal 1988 for the South Landfill at the Kokomo facility, and post-closure monitoring and care is ongoing there. Closure certification was received in fiscal 1999 for the North Landfill at the Kokomo facility, and post-closure monitoring and care are permitted and ongoing there. In fiscal 2007, IDEM issued a single post-closure permit applicable to both the North and South Landfills, which contains monitoring and post-closure care requirements. In addition, IDEM required that a Resource Conservation and Recovery Act, or RCRA, Facility Investigation, or RFI, be conducted in order to further evaluate one area of concern and one solid waste management unit. The RFI commenced in fiscal 2008 and is ongoing. A post-closure permit renewal was issued in fiscal 2013.
	The Company has also received permits from the North Carolina Department of Environment and Natural Resources, or NCDENR, to close and provide post-closure monitoring and care for the hazardous waste lagoon at its Mountain Home, North Carolina facility. The lagoon area has been closed and is currently undergoing post-closure monitoring and care. The Company is required to monitor groundwater and to continue post-closure maintenance of the former disposal areas at each site. As a result, the Company is aware of elevated levels of certain contaminants in the groundwater and additional corrective action by the Company could be required.
	On August 3, 2012, the Company received an information request from the United States Environmental Protection Agency, or EPA, relating to the Company’s compliance with laws relating to air quality. The Company has responded to the request, and there has been no further action by the EPA.
	As of September 30, 2013 and June 30, 2014, the Company has accrued $845 for post-closure monitoring and maintenance activities. Accruals for these costs are calculated by estimating the cost to monitor and maintain each post-closure site and multiplying that amount by the number of years remaining in the 30 year post-closure monitoring period referred to above. At each fiscal year end, or earlier if necessary, the Company evaluates the accuracy of the estimates for these monitoring and maintenance costs for the upcoming fiscal year. The accrual was based upon the undiscounted amount of the obligation of $1,077 which was then discounted using an appropriate discount rate.

Deferred_Revenue

Deferred Revenue	9 Months Ended
	Jun. 30, 2014
Deferred Revenue	'
Deferred Revenue	'
	Note 7.  Deferred Revenue
	On November 17, 2006, the Company entered into a twenty-year agreement to provide conversion services to Titanium Metals Corporation (“TIMET”) for up to ten million pounds of titanium metal annually. TIMET paid the Company a $50,000 up-front fee and will also pay the Company for its processing services during the term of the agreement (20 years) at prices established by the terms of the agreement. TIMET may exercise an option to have ten million additional pounds of titanium converted annually, provided that it offers to loan up to $12,000 to the Company for certain capital expenditures which may be required to expand capacity. In addition to the volume commitment, the Company has granted TIMET a first priority security interest in its four-high Steckel rolling mill, along with rights of access if the Company enters into bankruptcy or defaults on any financing arrangements. The Company has agreed not to manufacture titanium products (other than cold reduced titanium tubing). The Company has also agreed not to provide titanium hot-rolling conversion services using the 4-high mill to any entity other than TIMET for the term of the Conversion Services Agreement. The agreement contains certain default provisions which could result in contract termination and damages, including liquidated damages of $25.0 million and the Company being required to return the unearned portion of the up-front fee. The Company considered each provision and the likelihood of the occurrence of a default that would result in liquidated damages.  Based on the nature of the events that could trigger the liquidated damages clause, and the availability of the cure periods set forth in the agreement, the Company determined and continues to believe that none of these circumstances are reasonably likely to occur.  Therefore, events resulting in liquidated damages have not been factored in as a reduction to the amount of revenue recognized over the life of the contract.  The cash received of $50,000 is recognized in income on a straight-line basis over the 20-year term of the agreement.  If an event of default occurred and was not cured within any applicable grace period, the Company would recognize the impact of the liquidated damages in the period of default and re-evaluate revenue recognition under the contract for future periods. The portion of the up-front fee not recognized in income is shown as deferred revenue on the consolidated balance sheet.

Intangible_Assets

Intangible Assets	9 Months Ended
	Jun. 30, 2014
Intangible Assets	'
Intangible Assets	'
	Note 8.    Intangible Assets
	The Company has patents, trademarks and other intangibles. As the patents have a definite life, they are amortized over lives ranging from two to fourteen years. The Company reviews patents for impairment whenever events or circumstances indicate that the carrying amount of a patent may not be recoverable. Recoverability of the patent asset is measured by a comparison of the carrying amount of the asset to the undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount exceeds the fair value of the asset.
	As the trademarks have an indefinite life, the Company tests them for impairment at least annually as of August 31 (the annual impairment testing date). If the carrying value exceeds the fair value (determined by calculating a fair value based upon a discounted cash flow of an assumed royalty rate), impairment of the trademark may exist, resulting in a charge to earnings to the extent of the impairment. No impairment was recognized in the years ended September 30, 2012 or 2013 because the fair values exceeded the carrying values. The Company also has non-compete agreements with a remaining life of less than 1 year.
	Amortization of the patents, non-competes and other intangibles was $104 for the three months ended June 30, 2013 and 2014, and $312 for the nine months ended June 30, 2013 and 2014.
	The following represents a summary of intangible assets at September 30, 2013 and June 30, 2014:
	September 30, 2013	Gross		Accumulated			Carrying
		Amount		Amortization			Amount
	Patents	$	4,030	$	(2,533	)	$	1,497
	Trademarks	3,800		—			3,800
	Non-compete	500		(381		)	119
	Other	330		(145		)	185
		$	8,660	$	(3,059	)	$	5,601
	June 30, 2014	Gross		Accumulated			Carrying
		Amount		Amortization			Amount
	Patents	$	4,030	$	(2,742	)	$	1,288
	Trademarks	3,800		—			3,800
	Non-compete	500		(435		)	65
	Other	330		(194		)	136
		$	8,660	$	(3,371	)	$	5,289
	Estimate of Aggregate Amortization Expense:
	Year Ended September 30,
	2014 (remainder of fiscal year)	$	104
	2015	$	394
	2016	$	331
	2017	$	279
	2018	$	279
	Thereafter	$	102

Net_Income_Loss_Per_Share

Net Income (Loss) Per Share	9 Months Ended
	Jun. 30, 2014
Net Income (Loss) Per Share	'
Net Income (Loss) Per Share	'
	Note 9.   Net Income Per Share
	The Company accounts for earnings per share using the two-class method. The two-class method is an earnings allocation that determines net income per share for each class of common stock and participating securities according to participation rights in undistributed earnings. Non-vested restricted stock awards that include non-forfeitable rights to dividends are considered participating securities. Per share amounts are computed by dividing net income attributable to common stockholders by the weighted average shares outstanding during each period. Basic earnings per share is computed by dividing net income available to common stockholders for the period by the weighted average number of common shares outstanding for the period. The computation of diluted earnings per share is similar to basic earnings per share, except the denominator is increased to include the number of additional common shares that would have been outstanding if the potentially dilutive common shares had been issued. As a result, of the loss in the first nine months of fiscal 2014, no additional common shares or restricted stock awards are included in the calculation of net income per share in the nine months ended June 30, 2014, because their effect is antidilutive.
	The following table sets forth the computation of basic and diluted earnings per share:
		Three Months Ended						Nine Months Ended
		June 30,						June 30,
	(in thousands, except share and per share data)	2013			2014			2013			2014
	Numerator: Basic and Diluted
	Net income (loss)	$	5,297		$	2,096		$	17,568		$	(2,619	)
	Dividends paid	(2,713		)	(2,729		)	(8,136		)	(8,174		)
	Undistributed income (loss)	2,584			(633		)	9,432			(10,793		)
	Percentage allocated to common shares (a)	99.7		%	99.7		%	99.7		%	100		%
	Undistributed income (loss) allocated to common shares	2,576			(631		)	9,399			(10,793		)
	Dividends paid on common shares outstanding	2,704			2,722			8,107			8,174
	Net income (loss) available to common shares	5,280			2,091			17,506			(2,619		)
	Denominator: Basic and Diluted
	Weighted average common shares outstanding	12,235,842			12,310,955			12,219,793			12,281,960
	Adjustment for dilutive potential common shares	40,121			24,906			42,566			—
	Weighted average shares outstanding - Diluted	12,275,963			12,335,861			12,262,359			12,281,960
	Per common share net income (loss)
	Basic	$	0.43		$	0.17		$	1.43		$	(0.21	)
	Diluted	$	0.43		$	0.17		$	1.42		$	(0.21	)
	Number of stock option shares excluded as their effect would be anti-dilutive	156,540			163,605			175,317			221,748
	Number of restrictive stock option shares as their effect would be anti-dilutive	96,750			97,150			96,750			97,150
	(a)  Percentage allocated to common shares - weighted average
	Common shares outstanding	12,235,842		12,310,955		12,219,793		12,281,960
	Unvested participating shares	40,121		24,906		42,566		—
		12,275,963		12,335,861		12,262,359		12,281,960
	Anti-dilutive shares with respect to outstanding stock options have been properly excluded from the computation of diluted net income per share.

StockBased_Compensation

Stock-Based Compensation	9 Months Ended
	Jun. 30, 2014
Stock-Based Compensation	'
Stock-Based Compensation	'
	Note 10.  Stock-Based Compensation
	Restricted Stock Plan
	On February 23, 2009, the Company adopted a restricted stock plan that reserved 400,000 shares of common stock for issuance. Grants of restricted stock are grants of shares of the Company’s common stock subject to transfer restrictions, which vest in accordance with the terms and conditions established by the Compensation Committee. The Compensation Committee may set vesting requirements based on the achievement of specific performance goals or the passage of time.
	Restricted shares are subject to forfeiture if employment or service terminates prior to the vesting period or if any applicable performance goal is not met. The Company will assess, on an ongoing basis, the probability of whether the performance criteria will be achieved. The Company will recognize compensation expense over the performance period if it is deemed probable that the goal will be achieved. The fair value of the Company’s restricted stock is determined based upon the closing price of the Company’s common stock on the grant date. The plan provides for the adjustment of the number of shares covered by an outstanding grant and the maximum number of shares for which restricted stock may be granted in the event of a stock split, extraordinary dividend or distribution or similar recapitalization event.
	On November 26, 2013 and December 2, 2013, the Company granted 34,700 and 3,000 shares, respectively, of restricted stock to certain key employees and non-employee directors. The shares of restricted stock granted to employees will vest on the third anniversary of their grant date, provided that (a) the recipient is still an employee of the Company and (b) the Company has met a three-year net income performance goal, if applicable. The shares of restricted stock granted to non-employee directors will vest on the earlier of (a) the third anniversary of the date of grant or (b) the failure of such non-employee director to be re-elected at an annual meeting of the stockholders of the Company as a result of such non-employee director being excluded from the nominations for any reason other than cause. The fair value of the grants were $52.78 and $54.22 per share, respectively, the closing price of the Company’s common stock on the trading day immediately preceding the day of the applicable grant.
	The following table summarizes the activity under the restricted stock plan for the nine months ended June 30, 2014:
		Number of		Weighted
		Shares		Average Fair
				Value At
				Grant Date
	Unvested at September 30, 2013	96,750		$	47.74
	Granted	37,700		$	52.89
	Forfeited / Canceled	(450	)	$	56.68
	Vested	(36,850	)	$	41.77
	Unvested at June 30, 2014	97,150		$	51.96
	Expected to vest	77,650		$	52.11
	Compensation expense related to restricted stock for the three months ended June 30, 2013 and 2014 was $379 and $325, respectively, and for the nine months ended June 30, 2013 and 2014 was $882 and $1,135, respectively. The remaining unrecognized compensation expense at June 30, 2014 was $2,213, to be recognized over a weighted average period of 1.17 years. In the nine months ended June 30, 2014, the Company repurchased 6,284 shares of stock from employees at an average purchase price paid per share of $53.38 to satisfy required employee-owed taxes on stock-based compensation.
	Stock Option Plans
	The Company has two stock option plans that authorize the granting of non-qualified stock options to certain key employees and non-employee directors for the purchase of a maximum of 1,500,000 shares of the Company’s common stock. The original option plan was adopted in August 2004 pursuant to the plan of reorganization and provides for the grant of options to purchase up to 1,000,000 shares of the Company’s common stock. In January 2007, the Company’s Board of Directors adopted a second option plan that provides for options to purchase up to 500,000 shares of the Company’s common stock. Each plan provides for the adjustment of the maximum number of shares for which options may be granted in the event of a stock split, extraordinary dividend or distribution or similar recapitalization event. Unless the Compensation Committee determines otherwise, options granted under the option plans are exercisable for a period of ten years from the date of grant and vest 331/3% per year over three years from the grant date. The amount of compensation cost recognized in the financial statements is measured based upon the grant date fair value.
	The fair value of option grants was estimated as of the date of the grant. The Company has elected to use the Black-Scholes option pricing model, which incorporates various assumptions including volatility, expected life, risk-free interest rates, expected forfeitures and dividend yields. The volatility is based on historical volatility of the Company’s common stock over the most recent period commensurate with the estimated expected term of the stock option granted. The Company uses historical volatility because management believes such volatility is representative of prospective trends. The expected term of an award is based on historical exercise data. The risk-free interest rate assumption is based upon observed interest rates appropriate for the expected term of the awards. The expected forfeiture rate is based upon historical experience. The dividend yield assumption is based on the Company’s history and expectations regarding dividend payouts at the time of the grant.  Valuation of future grants under the Black-Scholes model will include a dividend yield. The following assumptions were used for grants in the first quarter of fiscal 2014:
	Grant Date	Fair			Dividend		Risk-free		Expected		Expected
		Value			Yield		Interest Rate		Volatility		Life
	November 26, 2013	$	13.94		1.67	%	0.57	%	42	%	3 years
	On November 26, 2013, the Company granted 45,250 options at an exercise price of $52.78, the fair market value of the Company’s common stock the day of the grant. During the first nine months of fiscal 2014, 54,913 options were exercised.
	The stock-based employee compensation expense for stock options for the three months ended June 30, 2013 and 2014 was $107 and $121, respectively, and for the nine months ended June 30, 2013 and 2014 was $316 and $354, respectively.  The remaining unrecognized compensation expense at June 30, 2014 was $736, to be recognized over a weighted average vesting period of 1.52 years.
	The following table summarizes the activity under the stock option plans for the nine months ended June 30, 2013:
		Number of		Aggregate			Weighted			Weighted
		Shares		Intrinsic			Average			Average
				Value			Exercise			Remaining
				(000s)			Prices			Contractual Life
	Outstanding at September 30, 2013	291,664					$	45.36
	Granted	45,250					$	52.78
	Exercised	(54,913	)				$	19.36
	Canceled	—					—
	Outstanding at June 30, 2014	282,001		$	2,179		$	51.61		5.64 yrs.
	Vested or expected to vest	269,026		$	2,084		$	51.73		5.51 yrs.
	Exercisable at June 30, 2014	205,252		$	1,788		$	51.66		4.41 yrs.
	Grant Date	Exercise		Remaining		Outstanding		Exercisable
		Price Per		Contractual		Number of		Number of
		Share		Life in Years		Shares		Shares
	March 31, 2006	31.00		1.75		10,000		10,000
	March 30, 2007	72.93		2.75		47,500		47,500
	March 31, 2008	54.00		3.25		58,000		58,000
	October 1, 2008	46.83		4.25		20,000		20,000
	March 31, 2009	17.82		4.75		12,084		12,084
	January 8, 2010	34.00		5.50		12,400		12,400
	November 24, 2010	40.26		6.42		19,667		19,667
	November 25, 2011	55.88		7.42		19,700		13,135
	November 20, 2012	47.96		8.42		35,600		11,866
	December 10, 2012	48.39		8.42		1,800		600
	November 26, 2013	52.78		9.42		45,250		—
						282,001		205,252

Dividend

Dividend	9 Months Ended
	Jun. 30, 2014
Dividend	'
Dividend	'
	Note 11.  Dividend
	In the third quarter of fiscal 2014, the Company declared and paid a quarterly cash dividend. The dividend of $0.22 per outstanding share of the Company’s common stock was paid June 16, 2014 to stockholders of record at the close of business on June 2, 2014.  The dividend cash pay-out was approximately $2,729 for the quarter based on the number of shares outstanding.
	On August 7, 2014, the Company announced that the Board of Directors declared a regular quarterly cash dividend of $0.22 per outstanding share of the Company’s common stock.  The dividend is payable September 15, 2014 to stockholders of record at the close of business on September 2, 2014.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Jun. 30, 2014
Fair Value Measurements	'
Fair Value Measurements	'
	Note 12.  Fair Value Measurements
	The fair value hierarchy has three levels based on the inputs used to determine fair value.
		·	Level 1 — Quoted prices in active markets that are unadjusted and accessible at the measurement date for identical, unrestricted assets or liabilities;
		·	Level 2 — Quoted prices for identical assets and liabilities in markets that are not active, quoted prices for similar assets and liabilities in active markets or financial instruments for which significant inputs  are observable, either directly or indirectly; and
		·	Level 3 — Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.
	When available, the Company uses unadjusted quoted market prices to measure fair value and classifies such items within Level 1. If quoted market prices are not available, fair value is based upon internally-developed models that use, where possible, current market-based or independently-sourced market parameters such as interest rates and currency rates. Items valued using internally-generated models are classified according to the lowest level input or value driver that is significant to the valuation. If quoted market prices are not available, the valuation model used depends on the specific asset or liability being valued. Money market funds included in cash and cash equivalents of $68,326 and $52,398 as of September 30, 2013 and June 30, 2014, respectively, are considered Level 1.

Changes_in_Accumulated_Other_C

Changes in Accumulated Other Comprehensive Income (Loss) by Component	9 Months Ended
	Jun. 30, 2014
Changes in Accumulated Other Comprehensive Income (Loss) by Component	'
Changes in Accumulated Other Comprehensive Income (Loss) by Component	'
	Note 13.  Changes in Accumulated Other Comprehensive Income (Loss) by Component
	Comprehensive income (loss) includes changes in equity that result from transactions and economic events from non-owner sources. Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss) items, including pension and foreign currency translation adjustments, net of tax when applicable.
	Accumulated Other Comprehensive Income (Loss)
		Three Months Ended June 30, 2013
		Pension			Postretirement			Foreign			Total
		Plan			Plan			Exchange
	Accumulated other comprehensive income (loss) as of March 31, 2013	$	(75,262	)	$	(24,778	)	$	(1,451	)	$	(101,491	)
	Other comprehensive income (loss) before classifications	—			—			240			240
	Amounts reclassified from accumulated other comprehensive income (loss)	5,314			(1,010		)	—			4,304
	Net current-period other comprehensive income (loss)	5,314			(1,010		)	240			4,544
	Accumulated other comprehensive income (loss) as of June 30, 2013	$	(69,948	)	$	(25,788	)	$	(1,211	)	$	(96,947	)
		Three Months Ended June 30, 2014
		Pension			Postretirement			Foreign			Total
		Plan			Plan			Exchange
	Accumulated other comprehensive income (loss) as of March 31, 2014	$	(41,092	)	$	(16,247	)	$	3,644		$	(53,695	)
	Other comprehensive income (loss) before classifications	—			—			1,104			1,104
	Amounts reclassified from accumulated other comprehensive income (loss)	853			(142		)	—			711
	Net current-period other comprehensive income (loss)	853			(142		)	1,104			1,815
	Accumulated other comprehensive income (loss) as of June 30, 2014	$	(40,239	)	$	(16,389	)	$	4,748		$	(51,880	)
		Nine Months Ended June 30, 2013
		Pension			Postretirement			Foreign			Total
		Plan			Plan			Exchange
	Accumulated other comprehensive income (loss) as of September 30, 2012	$	(75,262	)	$	(24,778	)	$	949		$	(99,091	)
	Other comprehensive income (loss) before classifications	—			—			(2,160		)	(2,160		)
	Amounts reclassified from accumulated other comprehensive income (loss)	5,314			(1,010		)	—			4,304
	Net current-period other comprehensive income (loss)	5,314			(1,010		)	(2,160		)	2,144
	Accumulated other comprehensive income (loss) as of June 30, 2013	$	(69,948	)	$	(25,788	)	$	(1,211	)	$	(96,947	)
		Nine Months Ended June 30, 2014
		Pension			Postretirement			Foreign			Total
		Plan			Plan			Exchange
	Accumulated other comprehensive income (loss) as of September 30, 2013	$	(42,798	)	$	(15,964	)	$	1,963		$	(56,799	)
	Other comprehensive income (loss) before classifications	—			—			2,785			2,785
	Amounts reclassified from accumulated other comprehensive income (loss)	2,559			(425		)	—			2,134
	Net current-period other comprehensive income (loss)	2,559			(425		)	2,785			4,919
	Accumulated other comprehensive income (loss) as of June 30, 2014	$	(40,239	)	$	(16,389	)	$	4,748		$	(51,880	)
	Reclassifications out of Accumulated Other Comprehensive Income
		Three Months Ended									Three Months Ended
		June 30, 2013									June 30, 2014
	Amortization of Pension and	Pension			Post-retirement			Total			Pension			Post-retirement			Total
	Postretirement Plan items	Plan			Plan						Plan			Plan
	Prior Service Costs (a)	$	(606	)	$	4,342		$	3,736		$	(202	)	$	724		$	522
	Actuarial (losses) (a)	(7,570		)	(2,788		)	(10,358		)	(1,153		)	(500		)	(1,653		)
	Total before tax	(8,176		)	1,554			(6,622		)	(1,355		)	224			(1,131		)
	Tax (expense) or benefit	2,862			(544		)	2,318			502			(82		)	420
	Total reclassification for the period	$	(5,314	)	$	1,010		$	(4,304	)	$	(853	)	$	142		$	(711	)
		Nine Months Ended									Nine Months Ended
		June 30, 2013									June 30, 2014
	Amortization of Pension and	Pension			Post-retirement			Total			Pension			Post-retirement			Total
	Postretirement Plan items	Plan			Plan						Plan			Plan
	Prior Service Costs (a)	$	(606	)	$	4,342		$	3,736		$	(606	)	$	2,171		$	1,565
	Actuarial (losses) (a)	(7,570		)	(2,788		)	(10,358		)	(3,458		)	(1,498		)	(4,956		)
	Total before tax	(8,176		)	1,554			(6,622		)	(4,064		)	673			(3,391		)
	Tax (expense) or benefit	2,862			(544		)	2,318			1,505			(248		)	1,257
	Total reclassification for the period	$	(5,314	)	$	1,010		$	(4,304	)	$	(2,559	)	$	425		$	(2,134	)
	(a)  These accumulated other comprehensive income components are included in the computation of net periodic pension cost.

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	9 Months Ended
	Jun. 30, 2014
Basis of Presentation	'
Principles of Consolidation	'
	Principles of Consolidation
	The consolidated financial statements include the accounts of Haynes International, Inc. and its directly and indirectly wholly-owned subsidiaries (collectively, the “Company”). All intercompany transactions and balances are eliminated.

Inventories_Tables

Inventories (Tables)	9 Months Ended
	Jun. 30, 2014
Inventories	'
Summary of major classes of inventories	'
		September 30,		June 30,
		2013		2014
	Raw Materials	$	25,647	$	19,870
	Work-in-process	108,708		141,397
	Finished Goods	97,150		85,349
	Other	652		974
		$	232,157	$	247,590

Pension_and_Postretirement_Ben1

Pension and Post-retirement Benefits (Tables)	9 Months Ended
	Jun. 30, 2014
Pension and Post-retirement Benefits	'
Schedule of components of net periodic pension and postretirement benefit cost	'
		Three Months Ended June 30,												Nine Months Ended June 30,
		Pension Benefits						Other Benefits						Pension Benefits						Other Benefits
		2013			2014			2013			2014			2013			2014			2013			2014
	Service cost	$	1,220		$	993		$	97		$	67		$	3,661		$	2,978		$	291		$	200
	Interest cost	2,556			2,953			1,082			1,144			7,751			8,653			3,246			3,433
	Expected return	(3,138		)	(3,702		)	—			—			(9,500		)	(10,846		)	—			—
	Amortizations	2,727			1,368			(518		)	(224		)	8,198			4,077			(1,553		)	(673		)
	Net periodic benefit cost	$	3,365		$	1,612		$	661		$	987		$	10,110		$	4,862		$	1,984		$	2,960

Intangible_Assets_Tables

Intangible Assets (Tables)	9 Months Ended
	Jun. 30, 2014
Intangible Assets	'
Summary of intangible assets	'
	September 30, 2013	Gross		Accumulated			Carrying
		Amount		Amortization			Amount
	Patents	$	4,030	$	(2,533	)	$	1,497
	Trademarks	3,800		—			3,800
	Non-compete	500		(381		)	119
	Other	330		(145		)	185
		$	8,660	$	(3,059	)	$	5,601
	June 30, 2014	Gross		Accumulated			Carrying
		Amount		Amortization			Amount
	Patents	$	4,030	$	(2,742	)	$	1,288
	Trademarks	3,800		—			3,800
	Non-compete	500		(435		)	65
	Other	330		(194		)	136
		$	8,660	$	(3,371	)	$	5,289
Schedule of estimate of aggregate amortization expense	'
	Estimate of Aggregate Amortization Expense:
	Year Ended September 30,
	2014 (remainder of fiscal year)	$	104
	2015	$	394
	2016	$	331
	2017	$	279
	2018	$	279
	Thereafter	$	102

Net_Income_Loss_Per_Share_Tabl

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Jun. 30, 2014
Net Income (Loss) Per Share	'
Schedule of basic and diluted net income (loss) per share	'
		Three Months Ended						Nine Months Ended
		June 30,						June 30,
	(in thousands, except share and per share data)	2013			2014			2013			2014
	Numerator: Basic and Diluted
	Net income (loss)	$	5,297		$	2,096		$	17,568		$	(2,619	)
	Dividends paid	(2,713		)	(2,729		)	(8,136		)	(8,174		)
	Undistributed income (loss)	2,584			(633		)	9,432			(10,793		)
	Percentage allocated to common shares (a)	99.7		%	99.7		%	99.7		%	100		%
	Undistributed income (loss) allocated to common shares	2,576			(631		)	9,399			(10,793		)
	Dividends paid on common shares outstanding	2,704			2,722			8,107			8,174
	Net income (loss) available to common shares	5,280			2,091			17,506			(2,619		)
	Denominator: Basic and Diluted
	Weighted average common shares outstanding	12,235,842			12,310,955			12,219,793			12,281,960
	Adjustment for dilutive potential common shares	40,121			24,906			42,566			—
	Weighted average shares outstanding - Diluted	12,275,963			12,335,861			12,262,359			12,281,960
	Per common share net income (loss)
	Basic	$	0.43		$	0.17		$	1.43		$	(0.21	)
	Diluted	$	0.43		$	0.17		$	1.42		$	(0.21	)
	Number of stock option shares excluded as their effect would be anti-dilutive	156,540			163,605			175,317			221,748
	Number of restrictive stock option shares as their effect would be anti-dilutive	96,750			97,150			96,750			97,150
	(a)  Percentage allocated to common shares - weighted average
	Common shares outstanding	12,235,842		12,310,955		12,219,793		12,281,960
	Unvested participating shares	40,121		24,906		42,566		—
		12,275,963		12,335,861		12,262,359		12,281,960

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	9 Months Ended
	Jun. 30, 2014
Stock-Based Compensation	'
Summary of activity under the restricted stock plan	'
		Number of		Weighted
		Shares		Average Fair
				Value At
				Grant Date
	Unvested at September 30, 2013	96,750		$	47.74
	Granted	37,700		$	52.89
	Forfeited / Canceled	(450	)	$	56.68
	Vested	(36,850	)	$	41.77
	Unvested at June 30, 2014	97,150		$	51.96
	Expected to vest	77,650		$	52.11
Schedule of fair value assumptions used for grants under the stock option plan	'
	Grant Date	Fair			Dividend		Risk-free		Expected		Expected
		Value			Yield		Interest Rate		Volatility		Life
	November 26, 2013	$	13.94		1.67	%	0.57	%	42	%	3 years
Summary of activity under the stock option plans	'
		Number of		Aggregate			Weighted			Weighted
		Shares		Intrinsic			Average			Average
				Value			Exercise			Remaining
				(000s)			Prices			Contractual Life
	Outstanding at September 30, 2013	291,664					$	45.36
	Granted	45,250					$	52.78
	Exercised	(54,913	)				$	19.36
	Canceled	—					—
	Outstanding at June 30, 2014	282,001		$	2,179		$	51.61		5.64 yrs.
	Vested or expected to vest	269,026		$	2,084		$	51.73		5.51 yrs.
	Exercisable at June 30, 2014	205,252		$	1,788		$	51.66		4.41 yrs.
	Grant Date	Exercise		Remaining		Outstanding		Exercisable
		Price Per		Contractual		Number of		Number of
		Share		Life in Years		Shares		Shares
	March 31, 2006	31.00		1.75		10,000		10,000
	March 30, 2007	72.93		2.75		47,500		47,500
	March 31, 2008	54.00		3.25		58,000		58,000
	October 1, 2008	46.83		4.25		20,000		20,000
	March 31, 2009	17.82		4.75		12,084		12,084
	January 8, 2010	34.00		5.50		12,400		12,400
	November 24, 2010	40.26		6.42		19,667		19,667
	November 25, 2011	55.88		7.42		19,700		13,135
	November 20, 2012	47.96		8.42		35,600		11,866
	December 10, 2012	48.39		8.42		1,800		600
	November 26, 2013	52.78		9.42		45,250		—
						282,001		205,252

Changes_in_Accumulated_Other_C1

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Tables)	9 Months Ended
	Jun. 30, 2014
Changes in Accumulated Other Comprehensive Income (Loss) by Component	'
Schedule of accumulated other comprehensive income (loss)	'
	Accumulated Other Comprehensive Income (Loss)
		Three Months Ended June 30, 2013
		Pension			Postretirement			Foreign			Total
		Plan			Plan			Exchange
	Accumulated other comprehensive income (loss) as of March 31, 2013	$	(75,262	)	$	(24,778	)	$	(1,451	)	$	(101,491	)
	Other comprehensive income (loss) before classifications	—			—			240			240
	Amounts reclassified from accumulated other comprehensive income (loss)	5,314			(1,010		)	—			4,304
	Net current-period other comprehensive income (loss)	5,314			(1,010		)	240			4,544
	Accumulated other comprehensive income (loss) as of June 30, 2013	$	(69,948	)	$	(25,788	)	$	(1,211	)	$	(96,947	)
		Three Months Ended June 30, 2014
		Pension			Postretirement			Foreign			Total
		Plan			Plan			Exchange
	Accumulated other comprehensive income (loss) as of March 31, 2014	$	(41,092	)	$	(16,247	)	$	3,644		$	(53,695	)
	Other comprehensive income (loss) before classifications	—			—			1,104			1,104
	Amounts reclassified from accumulated other comprehensive income (loss)	853			(142		)	—			711
	Net current-period other comprehensive income (loss)	853			(142		)	1,104			1,815
	Accumulated other comprehensive income (loss) as of June 30, 2014	$	(40,239	)	$	(16,389	)	$	4,748		$	(51,880	)
		Nine Months Ended June 30, 2013
		Pension			Postretirement			Foreign			Total
		Plan			Plan			Exchange
	Accumulated other comprehensive income (loss) as of September 30, 2012	$	(75,262	)	$	(24,778	)	$	949		$	(99,091	)
	Other comprehensive income (loss) before classifications	—			—			(2,160		)	(2,160		)
	Amounts reclassified from accumulated other comprehensive income (loss)	5,314			(1,010		)	—			4,304
	Net current-period other comprehensive income (loss)	5,314			(1,010		)	(2,160		)	2,144
	Accumulated other comprehensive income (loss) as of June 30, 2013	$	(69,948	)	$	(25,788	)	$	(1,211	)	$	(96,947	)
		Nine Months Ended June 30, 2014
		Pension			Postretirement			Foreign			Total
		Plan			Plan			Exchange
	Accumulated other comprehensive income (loss) as of September 30, 2013	$	(42,798	)	$	(15,964	)	$	1,963		$	(56,799	)
	Other comprehensive income (loss) before classifications	—			—			2,785			2,785
	Amounts reclassified from accumulated other comprehensive income (loss)	2,559			(425		)	—			2,134
	Net current-period other comprehensive income (loss)	2,559			(425		)	2,785			4,919
	Accumulated other comprehensive income (loss) as of June 30, 2014	$	(40,239	)	$	(16,389	)	$	4,748		$	(51,880	)
Schedule of reclassifications out of accumulated other comprehensive income	'
	Reclassifications out of Accumulated Other Comprehensive Income
		Three Months Ended									Three Months Ended
		June 30, 2013									June 30, 2014
	Amortization of Pension and	Pension			Post-retirement			Total			Pension			Post-retirement			Total
	Postretirement Plan items	Plan			Plan						Plan			Plan
	Prior Service Costs (a)	$	(606	)	$	4,342		$	3,736		$	(202	)	$	724		$	522
	Actuarial (losses) (a)	(7,570		)	(2,788		)	(10,358		)	(1,153		)	(500		)	(1,653		)
	Total before tax	(8,176		)	1,554			(6,622		)	(1,355		)	224			(1,131		)
	Tax (expense) or benefit	2,862			(544		)	2,318			502			(82		)	420
	Total reclassification for the period	$	(5,314	)	$	1,010		$	(4,304	)	$	(853	)	$	142		$	(711	)
		Nine Months Ended									Nine Months Ended
		June 30, 2013									June 30, 2014
	Amortization of Pension and	Pension			Post-retirement			Total			Pension			Post-retirement			Total
	Postretirement Plan items	Plan			Plan						Plan			Plan
	Prior Service Costs (a)	$	(606	)	$	4,342		$	3,736		$	(606	)	$	2,171		$	1,565
	Actuarial (losses) (a)	(7,570		)	(2,788		)	(10,358		)	(3,458		)	(1,498		)	(4,956		)
	Total before tax	(8,176		)	1,554			(6,622		)	(4,064		)	673			(3,391		)
	Tax (expense) or benefit	2,862			(544		)	2,318			1,505			(248		)	1,257
	Total reclassification for the period	$	(5,314	)	$	1,010		$	(4,304	)	$	(2,559	)	$	425		$	(2,134	)
	(a)  These accumulated other comprehensive income components are included in the computation of net periodic pension cost.

Inventories_Details

Inventories (Details) (USD $)	Jun. 30, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified
Inventories	'	'
Raw Materials	$19,870	$25,647
Work-in-process	141,397	108,708
Finished Goods	85,349	97,150
Other	974	652
Total	$247,590	$232,157

Income_Taxes_Details

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Taxes	'	'	'	'
Statutory federal tax rate (as a percent)	35.00%	35.00%	35.00%	35.00%
Effective tax rate (as a percent)	32.90%	33.80%	29.50%	32.30%

Pension_and_Postretirement_Ben2

Pension and Post-retirement Benefits (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Pension Plans Defined Benefit [Member]	'	'	'	'
Pension and post-retirement benefits	'	'	'	'
Service cost	$993	$1,220	$2,978	$3,661
Interest cost	2,953	2,556	8,653	7,751
Expected return	-3,702	-3,138	-10,846	-9,500
Amortizations	1,368	2,727	4,077	8,198
Net periodic benefit cost	1,612	3,365	4,862	10,110
United States Pension Plans Of U S Entity Defined Benefit [Member]	'	'	'	'
Pension and post-retirement benefits	'	'	'	'
Employer contribution	'	'	1,250	'
Expected future employer contribution	'	'	0	'
Foreign Pension Plans Defined Benefit [Member]	'	'	'	'
Pension and post-retirement benefits	'	'	'	'
Employer contribution	'	'	770	'
Expected future employer contribution	'	'	200	'
Other Postretirement Benefit Plans Defined Benefit [Member]	'	'	'	'
Pension and post-retirement benefits	'	'	'	'
Service cost	67	97	200	291
Interest cost	1,144	1,082	3,433	3,246
Amortizations	-224	-518	-673	-1,553
Net periodic benefit cost	987	661	2,960	1,984
Employer contribution	'	'	2,987	'
Expected future employer contribution	'	'	$1,836	'

Legal_Environmental_and_Other_1

Legal, Environmental and Other Contingencies (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Sep. 30, 2013
Legal, Environmental and Other Contingencies	'	'
Accrual for post-closure monitoring and maintenance activities	$845	$845
Post-closure monitoring period	'30 years	'
Undiscounted amount of obligation	$1,077	'
Claims Involving Personal Injuries Allegedly Relating To Companys Products [Member] | Pending Litigation [Member]	'	'
Legal, Environmental and Other Contingencies	'	'
Number of actions in which the entity is involved relating to welding rod-related injuries	2	'
Site Contingency Accrual [Member]	'	'
Legal, Environmental and Other Contingencies	'	'
Number of areas of concern that required investigation	1	'
Number of solid waste management units evaluated under RCRA, as required by IDEM	1	'

Deferred_Revenue_Details

Deferred Revenue (Details) (Conversion Services Arrangement [Member], USD $)	0 Months Ended	9 Months Ended
	Nov. 17, 2006	Jun. 30, 2014
		lb
Deferred revenue	'	'
Term of agreement to provide conversion services	'20 years	'
Up-front fees received	$50,000,000	'
Additional volume of titanium metal to be converted on exercise of option by service receiver (in pounds)	'	10,000,000
Revenue recognition period	'	'20 years
Liquidated damages	'	25,000,000
Maximum [Member]	'	'
Deferred revenue	'	'
Annual volume of titanium metal to be converted (in pounds)	10,000,000	'
Amount of loan offered by counterparty	'	$12,000,000

Intangible_Assets_Details

Intangible Assets (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Sep. 30, 2013
Intangible Assets	'	'	'	'	'
Impairment charges recognized	'	'	'	'	$0
Amortization expense of patents, non-competes and other intangibles	104	104	312	312	'
Total intangible assets, Gross Amount	8,660	'	8,660	'	8,660
Finite-lived intangible assets, Accumulated Amortization	-3,371	'	-3,371	'	-3,059
Carrying Amount	5,289	'	5,289	'	5,601
Patents [Member]	'	'	'	'	'
Intangible Assets	'	'	'	'	'
Finite-lived intangible assets, Gross Amount	4,030	'	4,030	'	4,030
Finite-lived intangible assets, Accumulated Amortization	-2,742	'	-2,742	'	-2,533
Finite-lived intangible assets, Carrying Amount	1,288	'	1,288	'	1,497
Patents [Member] | Minimum [Member]	'	'	'	'	'
Intangible Assets	'	'	'	'	'
Useful life	'	'	'2 years	'	'
Patents [Member] | Maximum [Member]	'	'	'	'	'
Intangible Assets	'	'	'	'	'
Useful life	'	'	'14 years	'	'
Noncompete Agreements [Member]	'	'	'	'	'
Intangible Assets	'	'	'	'	'
Finite-lived intangible assets, Gross Amount	500	'	500	'	500
Finite-lived intangible assets, Accumulated Amortization	-435	'	-435	'	-381
Finite-lived intangible assets, Carrying Amount	65	'	65	'	119
Noncompete Agreements [Member] | Maximum [Member]	'	'	'	'	'
Intangible Assets	'	'	'	'	'
Useful life	'	'	'1 year	'	'
Other Intangible Assets [Member]	'	'	'	'	'
Intangible Assets	'	'	'	'	'
Finite-lived intangible assets, Gross Amount	330	'	330	'	330
Finite-lived intangible assets, Accumulated Amortization	-194	'	-194	'	-145
Finite-lived intangible assets, Carrying Amount	136	'	136	'	185
Trademarks [Member]	'	'	'	'	'
Intangible Assets	'	'	'	'	'
Indefinite-lived intangible assets	$3,800	'	$3,800	'	$3,800

Intangible_Assets_Details_2

Intangible Assets (Details 2) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Estimate of Aggregate Amortization Expense:	'
2014 (remainder of fiscal year)	$104
2015	394
2016	331
2017	279
2018	279
Thereafter	$102

Net_Income_Loss_Per_Share_Deta

Net Income (Loss) Per Share (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Net Income (Loss) Per Share	'	'	'	'
Number of additional common shares or restricted stock awards included in the denominator as their affect is anti-dilutive	'	'	0	'
Numerator: Basic and Diluted	'	'	'	'
Net income (loss)	$2,096	$5,297	($2,619)	$17,568
Dividends paid	-2,729	-2,713	-8,174	-8,136
Undistributed income (loss)	-633	2,584	-10,793	9,432
Percentage allocated to common shares	99.70%	99.70%	100.00%	99.70%
Undistributed income (loss) allocated to common shares	-631	2,576	-10,793	9,399
Dividends paid on common shares outstanding	2,722	2,704	8,174	8,107
Net income (loss) available to common shares	$2,091	$5,280	($2,619)	$17,506
Denominator: Basic and Diluted	'	'	'	'
Weighted average shares / Common shares outstanding	12,310,955	12,235,842	12,281,960	12,219,793
Adjustment for dilutive potential common shares / Unvested participating shares	24,906	40,121	'	42,566
Weighted average shares - Diluted	12,335,861	12,275,963	12,281,960	12,262,359
Basic net income (loss) per share (in dollars per share)	$0.17	$0.43	($0.21)	$1.43
Diluted net income (loss) per share (in dollars per share)	$0.17	$0.43	($0.21)	$1.42
Employee And Directors Stock Options [Member]	'	'	'	'
Antidilutive securities	'	'	'	'
Number of shares excluded as their effect would be anti-dilutive	163,605	156,540	221,748	175,317
Restricted Stock [Member]	'	'	'	'
Antidilutive securities	'	'	'	'
Number of shares excluded as their effect would be anti-dilutive	97,150	96,750	97,150	96,750

StockBased_Compensation_Detail

Stock-Based Compensation (Details) (Restricted Stock [Member], USD $)	3 Months Ended		9 Months Ended			0 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Dec. 02, 2013	Nov. 26, 2013
					Employee [Member]	Key Employee Non Employee Directors [Member]	Key Employee Non Employee Directors [Member]
Stock-Based Compensation	'	'	'	'	'	'	'
Number of shares of common stock reserved for issuance	400,000	'	400,000	'	'	'	'
Restricted stock plan activity, number of shares	'	'	'	'	'	'	'
Unvested at beginning of the period (in shares)	'	'	96,750	'	'	'	'
Granted (in shares)	'	'	37,700	'	'	3,000	34,700
Vested (in shares)	'	'	-36,850	'	'	'	'
Unvested at end of the period (in shares)	97,150	'	97,150	'	'	'	'
Expected to vest (in shares)	77,650	'	77,650	'	'	'	'
Forfeited / Canceled (in shares)	'	'	-450	'	'	'	'
Restricted stock plan activity, Weighted Average Fair Value at Grant Date	'	'	'	'	'	'	'
Unvested at beginning of the period (in dollars per share)	'	'	$47.74	'	'	'	'
Granted (in dollars per share)	'	'	$52.89	'	'	$54.22	$52.78
Vested (in dollars per share)	'	'	$41.77	'	'	'	'
Unvested at end of the period (in dollars per share)	$51.96	'	$51.96	'	'	'	'
Expected to vest (in dollars per share)	$52.11	'	$52.11	'	'	'	'
Forfeited / Canceled (in dollars per share)	'	'	$56.68	'	'	'	'
Restricted stock plan activity, other disclosures	'	'	'	'	'	'	'
Compensation expense	$325	$379	$1,135	$882	'	'	'
Remaining unrecognized compensation expense	$2,213	'	$2,213	'	'	'	'
Weighted average period for recognition	'	'	'1 year 2 months 1 day	'	'	'	'
Repurchase of stock from employees (in shares)	'	'	'	'	6,284	'	'
Average purchase price (in dollars per share)	'	'	'	'	$53.38	'	'

StockBased_Compensation_Detail1

Stock-Based Compensation (Details 2) (USD $)	0 Months Ended	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Nov. 26, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
				plan
Stock Option Plan Adopted In August2004 [Member]	'	'	'	'	'
Information relating to stock options	'	'	'	'	'
Number of shares of common stock reserved for issuance	'	1,000,000	'	1,000,000	'
Stock Option Plan Adopted In January2007 [Member]	'	'	'	'	'
Information relating to stock options	'	'	'	'	'
Number of shares of common stock reserved for issuance	'	500,000	'	500,000	'
Employee And Directors Stock Options [Member]	'	'	'	'	'
Information relating to stock options	'	'	'	'	'
Number of plans	'	'	'	2	'
Number of shares of common stock reserved for issuance	'	1,500,000	'	1,500,000	'
Period during which options are exercisable	'	'	'	'10 years	'
Vesting of awards per year (as a percent)	'	'	'	33.33%	'
Award vesting period	'	'	'	'3 years	'
Fair value assumptions	'	'	'	'	'
Fair Value (in dollars per share)	$13.94	'	'	'	'
Dividend Yield (as a percent)	1.67%	'	'	'	'
Risk-Free Interest Rate (as a percent)	0.57%	'	'	'	'
Expected Volatility (as a percent)	42.00%	'	'	'	'
Expected Life	'3 years	'	'	'	'
Stock-based employee compensation expense	'	$121	$107	$354	$316
Remaining unrecognized compensation expense	'	736	'	736	'
Weighted average period for recognition	'	'	'	'1 year 6 months 7 days	'
Activity under stock option plans, number of shares	'	'	'	'	'
Outstanding at beginning of the period (in shares)	'	'	'	291,664	'
Granted (in shares)	'	'	'	45,250	'
Exercised (in shares)	'	'	'	-54,913	'
Outstanding at end of the period (in shares)	'	282,001	'	282,001	'
Vested or expected to vest (in shares)	'	269,026	'	269,026	'
Exercisable at end of period (in shares)	'	205,252	'	205,252	'
Outstanding at end of period, Aggregate Intrinsic Value	'	2,179	'	2,179	'
Vested or expected to vest, Aggregate Intrinsic Value	'	2,084	'	2,084	'
Exercisable at end of the period, Aggregate Intrinsic Value	'	$1,788	'	$1,788	'
Weighted Average Exercise Prices	'	'	'	'	'
Outstanding at beginning of the period (in dollars per share)	'	'	'	$45.36	'
Granted (in dollars per share)	'	'	'	$52.78	'
Exercised (in dollars per share)	'	'	'	$19.36	'
Outstanding at end of period (in dollars per share)	'	$51.61	'	$51.61	'
Vested or expected to vest (in dollars per share)	'	$51.73	'	$51.73	'
Exercisable at end of the period (in dollars per share)	'	$51.66	'	$51.66	'
Outstanding at end of the period, Weighted Average Remaining Contractual Life	'	'	'	'5 years 7 months 21 days	'
Vested or expected to vest, Weighted Average Remaining Contractual Life	'	'	'	'5 years 6 months 4 days	'
Exercisable at end of the period, Weighted Average Remaining Contractual Life	'	'	'	'4 years 4 months 28 days	'
Employee And Directors Stock Options [Member] | Certain Employees [Member]	'	'	'	'	'
Activity under stock option plans, number of shares	'	'	'	'	'
Granted (in shares)	45,250	'	'	'	'
Weighted Average Exercise Prices	'	'	'	'	'
Granted (in dollars per share)	$52.78	'	'	'	'

StockBased_Compensation_Detail2

Stock-Based Compensation (Details 3) (Employee And Directors Stock Options [Member], USD $)	9 Months Ended
	Jun. 30, 2014
Stock-Based Compensation	'
Outstanding Number of Shares	282,001
Exercisable Number of Shares	205,252
Exercise Price Dollar31.00 [Member]	'
Stock-Based Compensation	'
Exercise Price Per Share (in dollars per share)	$31
Remaining Contractual Life	'1 year 9 months
Outstanding Number of Shares	10,000
Exercisable Number of Shares	10,000
Exercise Price Dollar72.93 [Member]	'
Stock-Based Compensation	'
Exercise Price Per Share (in dollars per share)	$72.93
Remaining Contractual Life	'2 years 9 months
Outstanding Number of Shares	47,500
Exercisable Number of Shares	47,500
Exercise Price Dollar54.00 [Member]	'
Stock-Based Compensation	'
Exercise Price Per Share (in dollars per share)	$54
Remaining Contractual Life	'3 years 3 months
Outstanding Number of Shares	58,000
Exercisable Number of Shares	58,000
Exercise Price Dollar46.83 [Member]	'
Stock-Based Compensation	'
Exercise Price Per Share (in dollars per share)	$46.83
Remaining Contractual Life	'4 years 3 months
Outstanding Number of Shares	20,000
Exercisable Number of Shares	20,000
Exercise Price Dollar17.82 [Member]	'
Stock-Based Compensation	'
Exercise Price Per Share (in dollars per share)	$17.82
Remaining Contractual Life	'4 years 9 months
Outstanding Number of Shares	12,084
Exercisable Number of Shares	12,084
Exercise Price Dollar34.00 [Member]	'
Stock-Based Compensation	'
Exercise Price Per Share (in dollars per share)	$34
Remaining Contractual Life	'5 years 6 months
Outstanding Number of Shares	12,400
Exercisable Number of Shares	12,400
Exercise Price Dollar40.26 [Member]	'
Stock-Based Compensation	'
Exercise Price Per Share (in dollars per share)	$40.26
Remaining Contractual Life	'6 years 5 months 1 day
Outstanding Number of Shares	19,667
Exercisable Number of Shares	19,667
Exercise Price Dollar55.88 [Member]	'
Stock-Based Compensation	'
Exercise Price Per Share (in dollars per share)	$55.88
Remaining Contractual Life	'7 years 5 months 1 day
Outstanding Number of Shares	19,700
Exercisable Number of Shares	13,135
Exercise Price Dollar47.96 [Member]	'
Stock-Based Compensation	'
Exercise Price Per Share (in dollars per share)	$47.96
Remaining Contractual Life	'8 years 5 months 1 day
Outstanding Number of Shares	35,600
Exercisable Number of Shares	11,866
Exercise Price Dollar48.39 [Member]	'
Stock-Based Compensation	'
Exercise Price Per Share (in dollars per share)	$48.39
Remaining Contractual Life	'8 years 5 months 1 day
Outstanding Number of Shares	1,800
Exercisable Number of Shares	600
Exercise Price Dollar52.78 [Member]	'
Stock-Based Compensation	'
Exercise Price Per Share (in dollars per share)	$52.78
Remaining Contractual Life	'9 years 5 months 1 day
Outstanding Number of Shares	45,250

Dividend_Details

Dividend (Details) (USD $)	0 Months Ended		3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Aug. 07, 2014	Dec. 16, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Common stock dividend	'	'	'	'	'	'
Cash dividend (in dollars per share)	'	$0.22	'	'	'	'
Dividend paid (in dollars)	'	'	$2,729	$2,713	$8,174	$8,136
Cash dividend declared (in dollars per share)	$0.22	'	$0.22	$0.22	$0.66	$0.66

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (Fair Value Measurements Recurring [Member], Fair Value Inputs Level1 [Member], Cash And Cash Equivalents [Member], USD $)	Jun. 30, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified
Fair Value Measurements Recurring [Member] | Fair Value Inputs Level1 [Member] | Cash And Cash Equivalents [Member]	'	'
Assets:	'	'
Total fair value	$52,398	$68,326

Changes_in_Accumulated_Other_C2

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Accumulated other comprehensive income (loss)	'	'	'	'
Accumulated other comprehensive income (loss) at the beginning of the period	($53,695)	($101,491)	($56,799)	($99,091)
Other comprehensive income (loss) before classifications	1,104	240	2,785	-2,160
Amounts reclassified from accumulated other comprehensive income (loss)	711	4,304	2,134	4,304
Net current-period other comprehensive income (loss)	1,815	4,544	4,919	2,144
Accumulated other comprehensive income (loss) at the end of the period	-51,880	-96,947	-51,880	-96,947
Accumulated Defined Benefit Plans Adjustment [Member] | Pension Plans Defined Benefit [Member]	'	'	'	'
Accumulated other comprehensive income (loss)	'	'	'	'
Accumulated other comprehensive income (loss) at the beginning of the period	-41,092	-75,262	-42,798	-75,262
Amounts reclassified from accumulated other comprehensive income (loss)	853	5,314	2,559	5,314
Net current-period other comprehensive income (loss)	853	5,314	2,559	5,314
Accumulated other comprehensive income (loss) at the end of the period	-40,239	-69,948	-40,239	-69,948
Accumulated Defined Benefit Plans Adjustment [Member] | Other Postretirement Benefit Plans Defined Benefit [Member]	'	'	'	'
Accumulated other comprehensive income (loss)	'	'	'	'
Accumulated other comprehensive income (loss) at the beginning of the period	-16,247	-24,778	-15,964	-24,778
Amounts reclassified from accumulated other comprehensive income (loss)	-142	-1,010	-425	-1,010
Net current-period other comprehensive income (loss)	-142	-1,010	-425	-1,010
Accumulated other comprehensive income (loss) at the end of the period	-16,389	-25,788	-16,389	-25,788
Accumulated Translation Adjustment [Member]	'	'	'	'
Accumulated other comprehensive income (loss)	'	'	'	'
Accumulated other comprehensive income (loss) at the beginning of the period	3,644	-1,451	1,963	949
Other comprehensive income (loss) before classifications	1,104	240	2,785	-2,160
Net current-period other comprehensive income (loss)	1,104	240	2,785	-2,160
Accumulated other comprehensive income (loss) at the end of the period	$4,748	($1,211)	$4,748	($1,211)

Changes_in_Accumulated_Other_C3

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details 2) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Reclassifications out of accumulated other comprehensive income	'	'	'	'
Tax (expense) or benefit	$1,026	$2,705	($1,098)	$8,377
Total reclassification for the period	-711	-4,304	-2,134	-4,304
Reclassification Out Of Accumulated Other Comprehensive Income [Member]	'	'	'	'
Reclassifications out of accumulated other comprehensive income	'	'	'	'
Prior Service Costs	522	3,736	1,565	3,736
Actuarial (losses)	-1,653	-10,358	-4,956	-10,358
Total before tax	-1,131	-6,622	-3,391	-6,622
Tax (expense) or benefit	420	2,318	1,257	2,318
Total reclassification for the period	-711	-4,304	-2,134	-4,304
Accumulated Defined Benefit Plans Adjustment [Member] | Pension Plans Defined Benefit [Member]	'	'	'	'
Reclassifications out of accumulated other comprehensive income	'	'	'	'
Total reclassification for the period	-853	-5,314	-2,559	-5,314
Accumulated Defined Benefit Plans Adjustment [Member] | Pension Plans Defined Benefit [Member] | Reclassification Out Of Accumulated Other Comprehensive Income [Member]	'	'	'	'
Reclassifications out of accumulated other comprehensive income	'	'	'	'
Prior Service Costs	-202	-606	-606	-606
Actuarial (losses)	-1,153	-7,570	-3,458	-7,570
Total before tax	-1,355	-8,176	-4,064	-8,176
Tax (expense) or benefit	502	2,862	1,505	2,862
Total reclassification for the period	-853	-5,314	-2,559	-5,314
Accumulated Defined Benefit Plans Adjustment [Member] | Other Postretirement Benefit Plans Defined Benefit [Member]	'	'	'	'
Reclassifications out of accumulated other comprehensive income	'	'	'	'
Total reclassification for the period	142	1,010	425	1,010
Accumulated Defined Benefit Plans Adjustment [Member] | Other Postretirement Benefit Plans Defined Benefit [Member] | Reclassification Out Of Accumulated Other Comprehensive Income [Member]	'	'	'	'
Reclassifications out of accumulated other comprehensive income	'	'	'	'
Prior Service Costs	724	4,342	2,171	4,342
Actuarial (losses)	-500	-2,788	-1,498	-2,788
Total before tax	224	1,554	673	1,554
Tax (expense) or benefit	-82	-544	-248	-544
Total reclassification for the period	$142	$1,010	$425	$1,010