Haynes International (HAYN) 10-Q 27 Jan 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2021	Jan. 27, 2022
Cover Abstract
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	001-33288
Entity Registrant Name	HAYNES INTERNATIONAL, INC.
Entity Central Index Key	0000858655
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-1185400
Entity Address, Address Line One	1020 West Park Avenue
Entity Address, City or Town	Kokomo
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	46904-9013
City Area Code	765
Local Phone Number	456-6000
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	HAYN
Security Exchange Name	NASDAQ
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		12,454,688
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Current assets:
Cash and cash equivalents	$ 14,262	$ 47,726
Accounts receivable, less allowance for doubtful accounts of $553 and $605 at September 30, 2021 and December 31, 2021, respectively	56,861	57,964
Inventories	271,423	248,495
Income taxes receivable	1,645	1,292
Other current assets	4,866	6,129
Total current assets	349,057	361,606
Property, plant and equipment, net	146,154	147,248
Deferred income taxes	14,661	16,397
Other assets	10,480	10,829
Goodwill	4,789	4,789
Other intangible assets, net	5,468	5,586
Total assets	530,609	546,455
Current liabilities:
Accounts payable	39,809	47,680
Accrued expenses	14,744	20,100
Income taxes payable	417	379
Accrued pension and postretirement benefits	3,554	3,554
Revolving credit facilities	3,000
Deferred revenue-current portion	2,500	2,500
Total current liabilities	64,024	74,213
Long-term obligations (less current portion)	8,229	8,301
Deferred revenue (less current portion)	9,704	10,329
Deferred income taxes	3,448	3,459
Operating lease liabilities	486	664
Accrued pension benefits (less current portion)	24,675	26,663
Accrued postretirement benefits (less current portion)	79,834	79,505
Total liabilities	190,400	203,134
Commitments and contingencies
Stockholders' equity:
Common stock, $0.001 par value (40,000,000 shares authorized, 12,757,778 and 12,814,043 shares issued and 12,562,140 and 12,455,839 shares outstanding at September 30, 2021 and December 31, 2021, respectively)	13	13
Preferred stock, $0.001 par value (20,000,000 shares authorized, 0 shares issued and outstanding)
Additional paid-in capital	263,126	262,057
Accumulated earnings	102,865	101,015
Treasury stock, 195,638 shares at September 30, 2021 and 358,204 shares at December 31, 2021	(14,023)	(7,423)
Accumulated other comprehensive loss	(11,772)	(12,341)
Total stockholders' equity	340,209	343,321
Total liabilities and stockholders' equity	$ 530,609	$ 546,455

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowance for doubtful accounts (in dollars)	$ 605	$ 553
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	12,814,043	12,757,778
Common stock, shares outstanding (in shares)	12,455,839	12,562,140
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
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)	358,204	195,638

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF OPERATIONS
Net revenues	$ 99,430	$ 72,177
Cost of sales	81,653	71,190
Gross profit	17,777	987
Selling, general and administrative expense	11,362	9,733
Research and technical expense	905	787
Operating income (loss)	5,510	(9,533)
Nonoperating retirement benefit expense (income)	(1,088)	359
Interest income	(8)	(4)
Interest expense	300	304
Income (loss) before income taxes	6,306	(10,192)
Provision for (benefit from) income taxes	1,647	(2,165)
Net income (loss)	$ 4,659	$ (8,027)
Net income (loss) per share:
Basic (dollars per share)	$ 0.37	$ (0.65)
Diluted (dollars per share)	$ 0.37	$ (0.65)
Weighted Average Common Shares Outstanding
Basic (in shares)	12,368,821	12,492,985
Diluted (in shares)	12,587,139	12,492,985
Dividends declared per common share (dollars per share)	$ 0.22	$ 0.22

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$ 4,659	$ (8,027)
Other comprehensive income (loss), net of tax:
Pension and postretirement		1,528
Foreign currency translation adjustment	569	4,850
Other comprehensive income (loss)	569	6,378
Comprehensive income (loss)	$ 5,228	$ (1,649)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balance at Sep. 30, 2020	$ 13	$ 257,583	$ 120,943	$ (2,437)	$ (74,601)	$ 301,501
Balance (in shares) at Sep. 30, 2020	12,622,371
Increase (Decrease) in Stockholders' Equity
Net income (loss)			(8,027)			(8,027)
Dividends paid and accrued ($0.22 and $0.22 per share for the three months ended December 31, 2020 and 2021, respectively)			(2,782)			(2,782)
Other comprehensive income (loss)					6,378	6,378
Issue restricted stock (less forfeitures) (in shares)	55,718
Vesting of restricted stock (in shares)	14,497
Purchase of treasury stock				(238)		(238)
Purchase of treasury stock (in shares)	(10,439)
Stock compensation		1,059				1,059
Balance at Dec. 31, 2020	$ 13	258,642	110,134	(2,675)	(68,223)	297,891
Balance (in shares) at Dec. 31, 2020	12,682,147
Balance at Sep. 30, 2021	$ 13	262,057	101,015	(7,423)	(12,341)	343,321
Balance (in shares) at Sep. 30, 2021	12,562,140
Increase (Decrease) in Stockholders' Equity
Net income (loss)			4,659			4,659
Dividends paid and accrued ($0.22 and $0.22 per share for the three months ended December 31, 2020 and 2021, respectively)			(2,809)			(2,809)
Other comprehensive income (loss)					569	569
Exercise of stock options		115				115
Exercise of stock options (in shares)	3,650
Issue restricted stock (less forfeitures) (in shares)	31,704
Vesting of restricted stock (in shares)	20,911
Purchase of treasury stock				(6,600)		(6,600)
Purchase of treasury stock (in shares)	(162,566)
Stock compensation		954				954
Balance at Dec. 31, 2021	$ 13	$ 263,126	$ 102,865	$ (14,023)	$ (11,772)	$ 340,209
Balance (in shares) at Dec. 31, 2021	12,455,839

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Dividend paid (in dollars per share)	$ 0.22	$ 0.22

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ 4,659	$ (8,027)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation	4,636	4,807
Amortization	118	116
Pension and post-retirement expense - U.S. and U.K.	550	2,040
Change in long-term obligations	(9)	7
Stock compensation expense	954	1,059
Deferred revenue	(625)	(625)
Deferred income taxes	1,678	(1,983)
Change in assets and liabilities:
Accounts receivable	1,176	11,684
Inventories	(22,655)	13,289
Other assets	1,429	(270)
Accounts payable and accrued expenses	(13,220)	(1,246)
Income taxes	(323)	(178)
Accrued pension and postretirement benefits	(2,202)	(2,220)
Net cash provided by (used in) operating activities	(23,834)	18,453
Cash flows from investing activities:
Additions to property, plant and equipment	(3,335)	(1,127)
Net cash used in investing activities	(3,335)	(1,127)
Cash flows from financing activities:
Revolving credit facility borrowings	8,000
Revolving credit facility repayments	(5,000)
Dividends paid	(2,811)	(2,795)
Proceeds from exercise of stock options	115
Payment for purchase of treasury stock	(6,600)	(238)
Payment for debt issuance cost		(980)
Payments on long-term obligations	(58)	(67)
Net cash used in financing activities	(6,354)	(4,080)
Effect of exchange rates on cash	59	779
Increase (decrease) in cash and cash equivalents:	(33,464)	14,025
Cash and cash equivalents:
Beginning of period	47,726	47,238
End of period	14,262	61,263
Supplemental disclosures of cash flow information:
Interest (net of capitalized interest)	199	223
Income taxes paid (refunded), net	254	(13)
Capital expenditures incurred but not yet paid	775	487
Dividends declared but not yet paid	$ 207	$ 126

Basis of Presentation

Basis of Presentation	3 Months Ended
	Dec. 31, 2021
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 (“GAAP”), 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, 2021 filed with the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP 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 which are necessary for a fair presentation of results for the respective interim periods. The results of operations for the three months ended December 31, 2021 are not necessarily indicative of the results to be expected for the full fiscal year ending September 30, 2022 or any other interim period. ​ Principles of Consolidation ​ The consolidated financial statements include the accounts of Haynes International, Inc. and directly or indirectly wholly-owned subsidiaries (collectively, the “Company”). All intercompany transactions and balances are eliminated. ​ COVID-19 Pandemic ​ COVID-19 related disruptions ​

Recently Issued Accounting Stan

Recently Issued Accounting Standards	3 Months Ended
	Dec. 31, 2021
Recently Issued Accounting Standards
Recently Issued Accounting Standards	Note 2. Recently Issued Accounting Standards ​ In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848). ​

Revenues from Contracts with Cu

Revenues from Contracts with Customers	3 Months Ended
	Dec. 31, 2021
Revenues from Contracts with Customers
Revenues from Contracts with Customers	Note 3. Revenues from Contracts with Customers ​ Contract Balances ​ As of September 30, 2021 and December 31, 2021, accounts receivable with customers were $58,517 and $57,466 , respectively. Allowance for doubtful accounts as of September 30, 2021 and December 31, 2021 were , respectively, and are presented within accounts receivable, less allowance for doubtful accounts on the Consolidated Balance Sheet. ​ Contract liabilities are recognized when the Company has received consideration from a customer to transfer goods or services at a future point in time when the Company performs under the purchase order or contract. As of September 30, 2021 and December 31, 2021, no contract liabilities have been recorded except for $12,829 and $12,204, respectively, for the Titanium Metals Corporation agreement, as described in Note 8 to the Condensed Consolidated Financial Statements and $1,060 and $950 , respectively, for accrued product returns. ​ Disaggregation of Revenue ​ Revenue is disaggregated by end-use markets. The following table includes a breakdown of net revenues to the markets served by the Company for the three months ended December 31, 2020 and 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ December 31, ​ 2020 2021 Net revenues ​ ​ ​ ​ ​ ​ Aerospace ​ $ 24,555 ​ $ 48,455 Chemical processing ​ 15,256 ​ 17,450 Industrial gas turbine ​ 13,967 ​ 14,598 Other markets ​ 12,779 ​ 14,487 Total product revenue ​ 66,557 ​ 94,990 Other revenue ​ 5,620 ​ 4,440 Net revenues ​ $ 72,177 ​ $ 99,430 ​

Inventories

Inventories	3 Months Ended
	Dec. 31, 2021
Inventories
Inventories	Note 4. Inventories ​ The following is a summary of the major classes of inventories: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2021 2021 Raw Materials ​ $ 22,711 ​ $ 22,858 ​ ​ Work-in-process ​ 138,609 ​ 165,557 ​ ​ Finished Goods ​ 85,797 ​ 81,554 ​ ​ Other ​ 1,378 ​ 1,454 ​ ​ ​ ​ $ 248,495 ​ $ 271,423 ​ ​ ​

Income Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2021
Income Taxes
Income Taxes	Note 5. Income Taxes ​ Income tax expense (benefit) for the three months ended December 31, 2020 and 2021 differed from the U.S. federal statutory rate of 21.0%, primarily due to state income taxes, ​

Pension and Post-retirement Ben

Pension and Post-retirement Benefits	3 Months Ended
	Dec. 31, 2021
Pension and Post-retirement Benefits
Pension and Post-retirement Benefits	Note 6. Pension and Post-retirement Benefits ​ Components of net periodic pension and post-retirement benefit cost for the three months ended December 31, 2020 and 2021 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended December 31, ​ ​ ​ Pension Benefits ​ Other Benefits ​ ​ 2020 2021 2020 2021 Service cost ​ $ 1,407 ​ $ 1,182 ​ $ 274 ​ $ 456 ​ Interest cost ​ 1,808 ​ 1,923 ​ 573 ​ 559 ​ Expected return ​ (3,978) ​ (3,561) ​ — ​ — ​ Amortizations ​ 1,956 ​ 51 ​ — ​ (60) ​ Net periodic benefit cost ​ $ 1,193 ​ $ (405) ​ $ 847 ​ $ 955 ​ ​ The Company contributed $1,500 to Company-sponsored U.S. pension plans and $685 to its other post-retirement benefit plans for the three months ended December 31, 2021. The Company expects to make contributions of $4,500 to its U.S. pension plan and is considering an additional amount up to $15,000 as a part of the Company’s capital allocation strategy and $2,774 to its other post-retirement benefit plan for the remainder of fiscal 2022.

Legal, Environmental and Other

Legal, Environmental and Other Contingencies	3 Months Ended
	Dec. 31, 2021
Legal, Environmental and Other Contingencies
Legal, Environmental and Other Contingencies	Note 7. Legal, Environmental and Other Contingencies ​ Legal ​ The Company is regularly involved in litigation, both as a plaintiff and as a defendant, relating to its business and operations, including environmental, commercial, asbestos, employment and federal and/or state Equal Employment Opportunity Commission administrative actions. Future expenditures for environmental, employment, intellectual property and other legal matters cannot be determined with any degree of certainty. Environmental The Company has received permits from the Indiana Department of Environmental Management and the North Carolina Department of Environment and Natural Resources to close and provide post-closure environmental monitoring and care for certain areas of its Kokomo, Indiana and Mountain Home, North Carolina facilities, respectively. The Company is required to, among other things, 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 testing and corrective action by the Company could be required. The Company is unable to estimate the costs of any further corrective action at these sites, if required. Accordingly, the Company cannot assure that the costs of any future corrective action at these or any other current or former sites would not have a material effect on the Company’s financial condition, results of operations or liquidity. As of September 30, 2021 and December 31, 2021, the Company had accrued $566 for post-closure monitoring and maintenance activities, of which $496 is included in long-term obligations as it is not due within one year. 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 post-closure monitoring. Expected maturities of post-closure monitoring and maintenance activities (discounted) included in long-term obligations are as follows at December 31, 2021. ​ ​ ​ ​ ​ Expected maturities of post-closure monitoring and maintenance activities (discounted) ​ Year Ending September 30, ​ ​ ​ 2023 $ 68 ​ 2024 89 ​ 2025 67 ​ 2026 ​ 68 ​ 2027 and thereafter 204 ​ ​ $ 496 ​ ​

Deferred Revenue

Deferred Revenue	3 Months Ended
	Dec. 31, 2021
Deferred Revenue
Deferred Revenue	Note 8. 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 up to an additional ten million 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 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 $25,000 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. ​

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	3 Months Ended
	Dec. 31, 2021
Goodwill and Other Intangible Assets, Net
Goodwill and Other Intangible Assets, Net	Note 9. Goodwill and Other Intangible Assets, Net ​ The Company has goodwill, trademarks, customer relationships and other intangibles. Customer relationships have a definite life and are amortized over a period of fifteen years . The Company reviews customer relationships for impairment whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of the assets is measured by a comparison of the carrying amount of the asset to the undiscounted 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. ​ Goodwill and trademarks (indefinite lived) are tested for impairment at least annually as of January 31 for goodwill and August 31 for trademarks (the annual impairment testing dates), and more frequently if impairment indicators exist. If the carrying value of a trademark exceeds its fair value (determined using an income approach, 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. The impairment test for goodwill is performed by comparing the fair value of a reporting unit with its carrying amount and recognizing an impairment loss in the event that the carrying amount is greater than the fair value. Any goodwill impairment loss recognized would not exceed the total carrying amount of goodwill allocated to that reporting unit. No impairment has been recognized as of December 31, 2021. ​ During the first three months of fiscal 2022, there were no changes in the carrying amount of goodwill. ​ Amortization of customer relationships and other intangibles was $116 and $118 for the three-month periods ended December 31, 2020 and 2021, respectively. The following represents a summary of intangible assets at September 30, 2021 and December 31, 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Accumulated Carrying September 30, 2021 ​ Amount ​ Amortization ​ Amount Trademarks ​ $ 3,800 ​ $ — ​ $ 3,800 ​ Customer relationships ​ ​ 2,100 ​ ​ (995) ​ ​ 1,105 ​ Other ​ 997 ​ ​ (316) ​ ​ 681 ​ ​ ​ $ 6,897 ​ $ (1,311) ​ $ 5,586 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Accumulated Carrying December 31, 2021 ​ Amount ​ Amortization ​ Amount Trademarks ​ $ 3,800 ​ $ — ​ $ 3,800 ​ Customer relationships ​ ​ 2,100 ​ ​ (1,029) ​ ​ 1,071 ​ Other ​ 997 ​ ​ (400) ​ ​ 597 ​ ​ ​ $ 6,897 ​ $ (1,429) ​ $ 5,468 ​ ​ ​ ​ ​ ​ ​ Estimated future Aggregate Amortization Expense: ​ Year Ending September 30, ​ ​ ​ 2022 $ 347 ​ 2023 462 ​ 2024 142 ​ 2025 123 ​ 2026 120 ​ Thereafter 474 ​ ​

Net Income (Loss) Per Share

Net Income (Loss) Per Share	3 Months Ended
	Dec. 31, 2021
Net Income (Loss) Per Share
Net Income (Loss) Per Share	Note 10. Net Income (Loss) 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. 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. The following table sets forth the computation of basic and diluted earnings (loss) per share for the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ December 31, ​ (in thousands, except share and per share data) 2020 2021 Numerator: Basic and Diluted ​ ​ ​ ​ ​ ​ ​ Net income (loss) $ (8,027) $ 4,659 ​ Dividends paid and accrued ​ (2,782) ​ (2,809) ​ Undistributed income (loss) ​ (10,809) ​ 1,850 ​ Percentage allocated to common shares (a) ​ 100.0 % 98.9 % Undistributed income (loss) allocated to common shares ​ ​ (10,809) ​ ​ 1,830 ​ Dividends paid on common shares outstanding ​ 2,744 ​ 2,779 ​ Net income (loss) available to common shares ​ (8,065) ​ 4,609 ​ Denominator: Basic and Diluted ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding ​ 12,492,985 ​ 12,368,821 ​ Adjustment for dilutive potential common shares ​ — ​ 218,318 ​ Weighted average shares outstanding - Diluted ​ 12,492,985 ​ 12,587,139 ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic net income (loss) per share $ (0.65) $ 0.37 ​ Diluted net income (loss) per share $ (0.65) $ 0.37 ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of stock option shares excluded as their effect would be anti-dilutive ​ 358,346 ​ 236,861 ​ Number of restricted stock shares excluded as their effect would be anti-dilutive ​ 173,769 ​ 61,264 ​ Number of deferred restricted stock shares excluded as their effect would be anti-dilutive ​ ​ 35,616 ​ ​ 3,780 ​ Number of performance share awards excluded as their effect would be anti-dilutive ​ ​ 64,467 ​ ​ 55,008 ​ ​ ​ ​ ​ ​ ​ ​ ​ (a ) ​ ​ ​ ​ ​ ​ ​ Common shares outstanding ​ 12,492,985 ​ 12,368,821 ​ Unvested participating shares ​ — ​ 135,486 ​ ​ ​ 12,492,985 ​ 12,504,307 ​ ​

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Dec. 31, 2021
Stock-Based Compensation
Stock-Based Compensation	Note 11. Stock-Based Compensation ​ Restricted Stock ​ The following table summarizes the activity under the 2016 and 2020 Incentive Compensation Plans with respect to restricted stock for the three months ended December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average Fair ​ ​ Number of ​ Value At ​ ​ Shares ​ Grant Date Unvested at September 30, 2021 142,269 ​ $ 26.78 ​ Granted 31,704 ​ $ 44.07 ​ Vested (38,487) ​ $ 30.43 ​ Unvested at December 31, 2021 135,486 ​ $ 29.78 ​ Expected to vest 135,486 ​ $ 29.78 ​ ​ Compensation expense related to restricted stock for the three months ended December 31, 2020 and 2021 was $495 and $392 , respectively. The remaining unrecognized compensation expense related to restricted stock at December 31, 2021 was $2,489 , to be recognized over a weighted average period of 1.32 years. During the first three months of fiscal 2022, the Company repurchased 11,214 shares of stock from employees at an average purchase price of $43.70 to satisfy required withholding taxes upon vesting of restricted stock-based compensation. ​ Deferred Restricted Stock ​ The following table summarizes the activity under the 2016 and 2020 Incentive Compensation Plans with respect to deferred restricted stock for the three months ended December 31, 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average Fair ​ ​ Number of ​ Value At ​ ​ Shares ​ Grant Date Unvested and deferred at September 30, 2021 7,398 ​ $ 22.64 ​ Granted 3,801 ​ $ 44.07 ​ Vested and deferred ​ (7,398) ​ $ 22.64 ​ Unvested and deferred at December 31, 2021 3,801 ​ $ 44.07 ​ Vested and deferred at December 31, 2021 28,833 ​ $ 30.07 ​ ​ Compensation expense related to deferred restricted stock for the three months ended December 31, 2020 and 2021 was $63 and $42 , respectively. The remaining unrecognized compensation expense related to deferred restricted stock at December 31, 2021 was $154 , to be recognized over a weighted average period of 0.92 years. ​ Performance Shares ​ The following table summarizes the activity under the 2016 and 2020 Incentive Compensation Plans with respect to performance shares for the three months ended December 31, 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average Fair ​ ​ Number of ​ Value At ​ ​ Shares ​ Grant Date Unvested at September 30, 2021 87,193 ​ $ 37.24 ​ Granted 21,520 ​ $ 61.04 ​ Vested ​ (24,282) ​ $ 44.93 ​ Unvested at December 31, 2021 84,431 ​ $ 41.09 ​ ​ During the first three months of fiscal 2022, 24,282 performance share awards vested which resulted in the issuance of 20,911 shares of stock to certain employees. Compensation expense related to the performance shares for the three months ended December 30, 2020 and 2021 was $222 and $229 , respectively. The remaining unrecognized compensation expense related to performance shares at December 31, 2021 was $2,234 , to be recognized over a weighted average period of 1.82 years. ​ Stock Options ​ The Company has elected to use the Black-Scholes option pricing model to estimate fair value, which incorporates various assumptions including volatility, expected life, risk-free interest rates 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 dividend yield assumption is based on the Company’s history and expectations regarding dividend payouts at the time of the grant. The following assumptions were used for grants during fiscal year 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Dividend Risk-free Expected Expected Grant Date ​ Value ​ Yield ​ Interest Rate ​ Volatility ​ Life November 23, 2021 ​ $ 15.02 2.00 % 1.22 % 45 % 5 years ​ ​ The stock-based employee compensation expense for stock options for the three months ended December 31, 2020 and 2021 was $279 and $292 , respectively. The remaining unrecognized compensation expense at December 31, 2021 was $1,471 , to be recognized over a weighted average vesting period of 1.31 years. ​ The following table summarizes the activity under the stock option plans and the 2016 and 2020 Incentive Compensation Plans with respect to stock options for the three months ended December 31, 2021 and provides information regarding outstanding stock options: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Aggregate ​ Weighted ​ Average ​ ​ ​ ​ Intrinsic ​ Average ​ Remaining ​ ​ Number of ​ Value ​ Exercise ​ Contractual ​ ​ Shares ​ (000s) ​ Prices ​ Life Outstanding at September 30, 2021 702,576 ​ ​ ​ ​ $ 34.68 ​ ​ ​ ​ Granted 42,080 ​ ​ ​ ​ $ 44.07 ​ ​ ​ ​ Exercised (3,650) ​ ​ ​ ​ ​ 31.76 ​ ​ ​ ​ Canceled (10,000) ​ ​ ​ ​ $ 55.88 ​ ​ ​ ​ Outstanding at December 31, 2021 731,006 ​ $ 4,879 ​ $ 34.95 6.85 yrs. ​ Vested or expected to vest 664,230 ​ $ 4,430 ​ $ 34.94 4.48 yrs. ​ Exercisable at December 31, 2021 505,183 ​ $ 2,665 ​ $ 36.61 6.06 yrs. ​ ​

Dividend

Dividend	3 Months Ended
	Dec. 31, 2021
Dividend
Dividend	Note 12. Dividend ​ In the first quarter of fiscal 2022, the Company declared and paid quarterly cash dividends of $0.22 per outstanding share of the Company’s common stock. The first quarter dividend was paid on December 15, 2021 to stockholders of record at the close of business on December 1, 2021. The dividend cash pay-outs was $2,811 for the first quarter of fiscal 2022. ​ On January 27, 2022, 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 March 15, 2022 to stockholders of record at the close of business on March 1, 2022. ​

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Dec. 31, 2021
Fair Value Measurements
Fair Value Measurements	Note 13. 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. 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. The valuation model used depends on the specific asset or liability being valued. Fixed income securities are held as individual bonds and are valued as either level 1 assets as they are quoted in active markets or level 2 assets. U.S and International equities, and Other Investments held in the Company’s pension plan are held as individual bonds or in mutual funds and common / collective funds which are valued using net asset value (NAV) provided by the administrator of the fund. The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding. These investments are not classified in the fair value hierarchy in accordance with guidance included in ASU 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) by Component	3 Months Ended
	Dec. 31, 2021
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Changes in Accumulated Other Comprehensive Income (Loss) by Component	Note 14. 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, post-retirement and foreign currency translation adjustments, primarily caused by the strengthening or weakening of the U.S. dollar against the British pound sterling, net of tax when applicable. ​ Accumulated Other Comprehensive Income (Loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended December 31, 2020 ​ Pension Postretirement Foreign ​ ​ ​ ​ Plan ​ Plan ​ Exchange ​ Total Accumulated other comprehensive income (loss) as of September 30, 2020 ​ $ (65,393) ​ $ 613 ​ $ (9,821) ​ $ (74,601) Other comprehensive income (loss) before reclassifications ​ — ​ — ​ 4,850 ​ 4,850 Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ Amortization of Pension and Postretirement Plan items (1) ​ ​ 51 ​ ​ — ​ ​ — ​ ​ 51 Actuarial losses (1) ​ ​ 1,940 ​ ​ — ​ ​ — ​ ​ 1,940 Tax provision (benefit) ​ ​ (463) ​ ​ — ​ ​ — ​ ​ (463) Net current-period other comprehensive income (loss) ​ 1,528 ​ — ​ 4,850 ​ 6,378 Accumulated other comprehensive income (loss) as of December 31, 2020 ​ $ (63,865) ​ $ 613 ​ $ (4,971) ​ $ (68,223) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended December 31, 2021 ​ Pension Postretirement Foreign ​ ​ ​ ​ Plan ​ Plan ​ Exchange ​ Total Accumulated other comprehensive income (loss) as of September 30, 2021 ​ $ (14,791) ​ $ 9,017 ​ $ (6,567) ​ $ (12,341) Other comprehensive income (loss) before reclassifications ​ — ​ — ​ 569 ​ 569 Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ Amortization of Pension and Postretirement Plan items (1) ​ ​ 51 ​ ​ — ​ ​ — ​ ​ 51 Actuarial losses (1) ​ ​ 8 ​ ​ (60) ​ ​ — ​ ​ (52) Tax provision (benefit) ​ ​ (13) ​ ​ 14 ​ ​ — ​ ​ 1 Net current-period other comprehensive income (loss) ​ 46 ​ (46) ​ 569 ​ 569 Accumulated other comprehensive income (loss) as of December 31, 2021 ​ $ (14,745) ​ $ 8,971 ​ $ (5,998) ​ $ (11,772) ​ (1) These accumulated other comprehensive income components are included in the computation of net periodic pension c ost.

Long-term Obligations

Long-term Obligations	3 Months Ended
	Dec. 31, 2021
Long-term Obligations
Long-term Obligations	Note 15. Long-term Obligations ​ The following table sets forth the components of the Company’s Long-term obligations. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2021 2021 Finance lease obligations ​ $ 7,613 ​ $ 7,559 ​ Environmental post-closure monitoring and maintenance activities ​ ​ 566 ​ ​ 566 ​ Long-term disability ​ ​ 231 ​ ​ 225 ​ Deferred dividends ​ ​ 210 ​ ​ 207 ​ Less amounts due within one year ​ (319) ​ (328) ​ Long-term obligations (less current portion) ​ $ 8,301 ​ $ 8,229 ​ ​ ​ ​ ​ ​ ​ ​

Foreign Currency Forward Contra

Foreign Currency Forward Contracts	3 Months Ended
	Dec. 31, 2021
Foreign Currency Forward Contracts
Foreign Currency Forward Contracts	Note 16. Foreign Currency Forward Contracts ​ The Company enters into foreign currency forward contracts to reduce income statement volatility resulting from foreign currency denominated transactions. The Company has not designated the contracts as hedges therefore, changes in fair value are recognized in earnings. All of these contracts are designed to be settled within the same fiscal quarter they are entered into and, accordingly, as of December 31, 2021, there were no contracts that remain unsettled. As a result, there was no impact to the balance sheet from those contracts as of September 30, 2021 or December 31, 2021. Foreign exchange contract gains and losses are recorded within selling, general and administrative expenses on the Consolidated Statements of Operations along with foreign currency transactional gains and losses as follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended December 31, ​ ​ 2020 2021 Foreign currency transactional gain (loss) ​ $ 453 ​ $ (220) Foreign exchange forward contract gain (loss) ​ $ (281) ​ $ (340) Net gain (loss) included in selling, general and administrative expense ​ $ 172 ​ $ (560) ​ ​ ​ ​ ​ ​

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Dec. 31, 2021
Basis of Presentation
Principles of Consolidation	Principles of Consolidation ​ The consolidated financial statements include the accounts of Haynes International, Inc. and directly or indirectly wholly-owned subsidiaries (collectively, the “Company”). All intercompany transactions and balances are eliminated.

Revenues from Contracts with _2

Revenues from Contracts with Customers (Tables)	3 Months Ended
	Dec. 31, 2021
Revenues from Contracts with Customers
Schedule of disaggregation of revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ December 31, ​ 2020 2021 Net revenues ​ ​ ​ ​ ​ ​ Aerospace ​ $ 24,555 ​ $ 48,455 Chemical processing ​ 15,256 ​ 17,450 Industrial gas turbine ​ 13,967 ​ 14,598 Other markets ​ 12,779 ​ 14,487 Total product revenue ​ 66,557 ​ 94,990 Other revenue ​ 5,620 ​ 4,440 Net revenues ​ $ 72,177 ​ $ 99,430

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Dec. 31, 2021
Inventories
Summary of major classes of inventories	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2021 2021 Raw Materials ​ $ 22,711 ​ $ 22,858 ​ ​ Work-in-process ​ 138,609 ​ 165,557 ​ ​ Finished Goods ​ 85,797 ​ 81,554 ​ ​ Other ​ 1,378 ​ 1,454 ​ ​ ​ ​ $ 248,495 ​ $ 271,423 ​ ​

Pension Plan and Retirement Ben

Pension Plan and Retirement Benefits (Tables)	3 Months Ended
	Dec. 31, 2021
Pension and Post-retirement Benefits
Schedule of components of net periodic pension and postretirement benefit cost	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended December 31, ​ ​ ​ Pension Benefits ​ Other Benefits ​ ​ 2020 2021 2020 2021 Service cost ​ $ 1,407 ​ $ 1,182 ​ $ 274 ​ $ 456 ​ Interest cost ​ 1,808 ​ 1,923 ​ 573 ​ 559 ​ Expected return ​ (3,978) ​ (3,561) ​ — ​ — ​ Amortizations ​ 1,956 ​ 51 ​ — ​ (60) ​ Net periodic benefit cost ​ $ 1,193 ​ $ (405) ​ $ 847 ​ $ 955 ​

Legal, Environmental and Othe_2

Legal, Environmental and Other Contingencies (Tables)	3 Months Ended
	Dec. 31, 2021
Legal, Environmental and Other Contingencies
Schedule of expected maturities of post-closure monitoring and maintenance activities (discounted)	​ ​ ​ ​ ​ Expected maturities of post-closure monitoring and maintenance activities (discounted) ​ Year Ending September 30, ​ ​ ​ 2023 $ 68 ​ 2024 89 ​ 2025 67 ​ 2026 ​ 68 ​ 2027 and thereafter 204 ​ ​ $ 496 ​

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	3 Months Ended
	Dec. 31, 2021
Goodwill and Other Intangible Assets, Net
Summary of finite-lived intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Accumulated Carrying September 30, 2021 ​ Amount ​ Amortization ​ Amount Trademarks ​ $ 3,800 ​ $ — ​ $ 3,800 ​ Customer relationships ​ ​ 2,100 ​ ​ (995) ​ ​ 1,105 ​ Other ​ 997 ​ ​ (316) ​ ​ 681 ​ ​ ​ $ 6,897 ​ $ (1,311) ​ $ 5,586 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Accumulated Carrying December 31, 2021 ​ Amount ​ Amortization ​ Amount Trademarks ​ $ 3,800 ​ $ — ​ $ 3,800 ​ Customer relationships ​ ​ 2,100 ​ ​ (1,029) ​ ​ 1,071 ​ Other ​ 997 ​ ​ (400) ​ ​ 597 ​ ​ ​ $ 6,897 ​ $ (1,429) ​ $ 5,468 ​
Schedule of indefinite-lived intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Accumulated Carrying September 30, 2021 ​ Amount ​ Amortization ​ Amount Trademarks ​ $ 3,800 ​ $ — ​ $ 3,800 ​ Customer relationships ​ ​ 2,100 ​ ​ (995) ​ ​ 1,105 ​ Other ​ 997 ​ ​ (316) ​ ​ 681 ​ ​ ​ $ 6,897 ​ $ (1,311) ​ $ 5,586 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Accumulated Carrying December 31, 2021 ​ Amount ​ Amortization ​ Amount Trademarks ​ $ 3,800 ​ $ — ​ $ 3,800 ​ Customer relationships ​ ​ 2,100 ​ ​ (1,029) ​ ​ 1,071 ​ Other ​ 997 ​ ​ (400) ​ ​ 597 ​ ​ ​ $ 6,897 ​ $ (1,429) ​ $ 5,468 ​
Schedule of estimated future aggregate amortization expense	​ ​ ​ ​ ​ Estimated future Aggregate Amortization Expense: ​ Year Ending September 30, ​ ​ ​ 2022 $ 347 ​ 2023 462 ​ 2024 142 ​ 2025 123 ​ 2026 120 ​ Thereafter 474 ​

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	3 Months Ended
	Dec. 31, 2021
Net Income (Loss) Per Share
Schedule of basic and diluted net earnings (losses) per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ December 31, ​ (in thousands, except share and per share data) 2020 2021 Numerator: Basic and Diluted ​ ​ ​ ​ ​ ​ ​ Net income (loss) $ (8,027) $ 4,659 ​ Dividends paid and accrued ​ (2,782) ​ (2,809) ​ Undistributed income (loss) ​ (10,809) ​ 1,850 ​ Percentage allocated to common shares (a) ​ 100.0 % 98.9 % Undistributed income (loss) allocated to common shares ​ ​ (10,809) ​ ​ 1,830 ​ Dividends paid on common shares outstanding ​ 2,744 ​ 2,779 ​ Net income (loss) available to common shares ​ (8,065) ​ 4,609 ​ Denominator: Basic and Diluted ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding ​ 12,492,985 ​ 12,368,821 ​ Adjustment for dilutive potential common shares ​ — ​ 218,318 ​ Weighted average shares outstanding - Diluted ​ 12,492,985 ​ 12,587,139 ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic net income (loss) per share $ (0.65) $ 0.37 ​ Diluted net income (loss) per share $ (0.65) $ 0.37 ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of stock option shares excluded as their effect would be anti-dilutive ​ 358,346 ​ 236,861 ​ Number of restricted stock shares excluded as their effect would be anti-dilutive ​ 173,769 ​ 61,264 ​ Number of deferred restricted stock shares excluded as their effect would be anti-dilutive ​ ​ 35,616 ​ ​ 3,780 ​ Number of performance share awards excluded as their effect would be anti-dilutive ​ ​ 64,467 ​ ​ 55,008 ​ ​ ​ ​ ​ ​ ​ ​ ​ (a ) ​ ​ ​ ​ ​ ​ ​ Common shares outstanding ​ 12,492,985 ​ 12,368,821 ​ Unvested participating shares ​ — ​ 135,486 ​ ​ ​ 12,492,985 ​ 12,504,307 ​

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Dec. 31, 2021
Stock-Based Compensation
Summary of activity under the restricted stock plan	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average Fair ​ ​ Number of ​ Value At ​ ​ Shares ​ Grant Date Unvested at September 30, 2021 142,269 ​ $ 26.78 ​ Granted 31,704 ​ $ 44.07 ​ Vested (38,487) ​ $ 30.43 ​ Unvested at December 31, 2021 135,486 ​ $ 29.78 ​ Expected to vest 135,486 ​ $ 29.78 ​
Summary of activity under the deferred restricted stock plan	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average Fair ​ ​ Number of ​ Value At ​ ​ Shares ​ Grant Date Unvested and deferred at September 30, 2021 7,398 ​ $ 22.64 ​ Granted 3,801 ​ $ 44.07 ​ Vested and deferred ​ (7,398) ​ $ 22.64 ​ Unvested and deferred at December 31, 2021 3,801 ​ $ 44.07 ​ Vested and deferred at December 31, 2021 28,833 ​ $ 30.07 ​
Summary of activity under the 2016 Incentive Compensation Plan with respect to performance shares	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average Fair ​ ​ Number of ​ Value At ​ ​ Shares ​ Grant Date Unvested at September 30, 2021 87,193 ​ $ 37.24 ​ Granted 21,520 ​ $ 61.04 ​ Vested ​ (24,282) ​ $ 44.93 ​ Unvested at December 31, 2021 84,431 ​ $ 41.09 ​
Schedule of fair value assumptions used for grants under the stock option plan	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Dividend Risk-free Expected Expected Grant Date ​ Value ​ Yield ​ Interest Rate ​ Volatility ​ Life November 23, 2021 ​ $ 15.02 2.00 % 1.22 % 45 % 5 years ​ ​
Summary of activity under the stock option plans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Aggregate ​ Weighted ​ Average ​ ​ ​ ​ Intrinsic ​ Average ​ Remaining ​ ​ Number of ​ Value ​ Exercise ​ Contractual ​ ​ Shares ​ (000s) ​ Prices ​ Life Outstanding at September 30, 2021 702,576 ​ ​ ​ ​ $ 34.68 ​ ​ ​ ​ Granted 42,080 ​ ​ ​ ​ $ 44.07 ​ ​ ​ ​ Exercised (3,650) ​ ​ ​ ​ ​ 31.76 ​ ​ ​ ​ Canceled (10,000) ​ ​ ​ ​ $ 55.88 ​ ​ ​ ​ Outstanding at December 31, 2021 731,006 ​ $ 4,879 ​ $ 34.95 6.85 yrs. ​ Vested or expected to vest 664,230 ​ $ 4,430 ​ $ 34.94 4.48 yrs. ​ Exercisable at December 31, 2021 505,183 ​ $ 2,665 ​ $ 36.61 6.06 yrs. ​

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Tables)	3 Months Ended
	Dec. 31, 2021
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Schedule of accumulated other comprehensive income (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended December 31, 2020 ​ Pension Postretirement Foreign ​ ​ ​ ​ Plan ​ Plan ​ Exchange ​ Total Accumulated other comprehensive income (loss) as of September 30, 2020 ​ $ (65,393) ​ $ 613 ​ $ (9,821) ​ $ (74,601) Other comprehensive income (loss) before reclassifications ​ — ​ — ​ 4,850 ​ 4,850 Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ Amortization of Pension and Postretirement Plan items (1) ​ ​ 51 ​ ​ — ​ ​ — ​ ​ 51 Actuarial losses (1) ​ ​ 1,940 ​ ​ — ​ ​ — ​ ​ 1,940 Tax provision (benefit) ​ ​ (463) ​ ​ — ​ ​ — ​ ​ (463) Net current-period other comprehensive income (loss) ​ 1,528 ​ — ​ 4,850 ​ 6,378 Accumulated other comprehensive income (loss) as of December 31, 2020 ​ $ (63,865) ​ $ 613 ​ $ (4,971) ​ $ (68,223) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended December 31, 2021 ​ Pension Postretirement Foreign ​ ​ ​ ​ Plan ​ Plan ​ Exchange ​ Total Accumulated other comprehensive income (loss) as of September 30, 2021 ​ $ (14,791) ​ $ 9,017 ​ $ (6,567) ​ $ (12,341) Other comprehensive income (loss) before reclassifications ​ — ​ — ​ 569 ​ 569 Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ Amortization of Pension and Postretirement Plan items (1) ​ ​ 51 ​ ​ — ​ ​ — ​ ​ 51 Actuarial losses (1) ​ ​ 8 ​ ​ (60) ​ ​ — ​ ​ (52) Tax provision (benefit) ​ ​ (13) ​ ​ 14 ​ ​ — ​ ​ 1 Net current-period other comprehensive income (loss) ​ 46 ​ (46) ​ 569 ​ 569 Accumulated other comprehensive income (loss) as of December 31, 2021 ​ $ (14,745) ​ $ 8,971 ​ $ (5,998) ​ $ (11,772) ​ (1) These accumulated other comprehensive income components are included in the computation of net periodic pension c ost.

Long-term Obligations (Tables)

Long-term Obligations (Tables)	3 Months Ended
	Dec. 31, 2021
Long-term Obligations
Schedule of long-term obligations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2021 2021 Finance lease obligations ​ $ 7,613 ​ $ 7,559 ​ Environmental post-closure monitoring and maintenance activities ​ ​ 566 ​ ​ 566 ​ Long-term disability ​ ​ 231 ​ ​ 225 ​ Deferred dividends ​ ​ 210 ​ ​ 207 ​ Less amounts due within one year ​ (319) ​ (328) ​ Long-term obligations (less current portion) ​ $ 8,301 ​ $ 8,229 ​

Foreign Currency Forward Cont_2

Foreign Currency Forward Contracts (Tables)	3 Months Ended
	Dec. 31, 2021
Foreign Currency Forward Contracts
Schedule of foreign exchange hedging gains and losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended December 31, ​ ​ 2020 2021 Foreign currency transactional gain (loss) ​ $ 453 ​ $ (220) Foreign exchange forward contract gain (loss) ​ $ (281) ​ $ (340) Net gain (loss) included in selling, general and administrative expense ​ $ 172 ​ $ (560) ​

Revenues from Contracts with _3

Revenues from Contracts with Customers - Other Information (Details) $ in Thousands, lb in Millions	Nov. 17, 2006USD ($)	Dec. 31, 2021USD ($)lb	Sep. 30, 2021USD ($)
Revenues from Contracts with Customers
Accounts receivable, gross		$ 57,466	$ 58,517
Accounts receivable, allowance for doubtful accounts		605	553
Contract liabilities		12,204	12,829
Estimated product returns		$ 950	$ 1,060
Conversion Services Arrangement [Member]
Revenues from Contracts with Customers
Revenue recognition period		20 years
Advance payments received	$ 50,000
Conversion Services Arrangement [Member] | Maximum [Member]
Revenues from Contracts with Customers
Annual volume of titanium metal to be converted (in pounds) | lb		10

Revenues from Contracts with _4

Revenues from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue from Contracts with Customers
Net revenues	$ 99,430	$ 72,177
Product
Revenue from Contracts with Customers
Net revenues	94,990	66,557
Aerospace
Revenue from Contracts with Customers
Net revenues	48,455	24,555
Chemical processing
Revenue from Contracts with Customers
Net revenues	17,450	15,256
Industrial gas turbine
Revenue from Contracts with Customers
Net revenues	14,598	13,967
Other markets
Revenue from Contracts with Customers
Net revenues	14,487	12,779
Other
Revenue from Contracts with Customers
Net revenues	$ 4,440	$ 5,620

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Inventories
Raw Materials	$ 22,858	$ 22,711
Work-in-process	165,557	138,609
Finished Goods	81,554	85,797
Other	1,454	1,378
Total	$ 271,423	$ 248,495

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Taxes
Statutory federal tax rate (as a percent)	21.00%	21.00%
Effective tax rate (as a percent)	26.10%	21.20%
Income (loss) before income taxes	$ 6,306	$ (10,192)

Pension and Post-retirement B_2

Pension and Post-retirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Pension Plan, Defined Benefit [Member]
Pension Plan and Retirement Benefits
Service cost	$ 1,182	$ 1,407
Interest cost	1,923	1,808
Expected return	(3,561)	(3,978)
Amortizations	51	1,956
Net periodic benefit cost	(405)	1,193
Contribution to plan	1,500
Expected future employer contribution	4,500
United States Pension Plan of US Entity, Defined Benefit [Member] | Maximum [Member]
Pension Plan and Retirement Benefits
Additional pension contribution per year	15,000
Other Postretirement Benefit Plan, Defined Benefit [Member]
Pension Plan and Retirement Benefits
Service cost	456	274
Interest cost	559	573
Amortizations	(60)
Net periodic benefit cost	955	$ 847
Contribution to plan	685
Expected future employer contribution	$ 2,774

Legal, Environmental and Othe_3

Legal, Environmental and Other Contingencies (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Environmental post-closure monitoring and maintenance activities	$ 566	$ 566
Maturities of long-term obligations (discounted)
Long-term obligations (less current portion)	496	$ 566
Long Term Obligations
Maturities of long-term obligations (discounted)
2023	68
2024	89
2025	67
2026	68
2027 and thereafter	204
Long-term obligations (less current portion)	$ 496

Deferred Revenue (Details)

Deferred Revenue (Details) - Conversion Services Arrangement [Member] $ in Thousands, lb in Millions	Nov. 17, 2006USD ($)	Dec. 31, 2021USD ($)lb
Deferred revenue
Term of agreement to provide conversion services	20 years
Up-front/advance payment received	$ 50,000
Up Front Fees Received	$ 50,000
Additional volume of titanium metal to be converted on exercise of option by service receiver (in pounds) | lb		10
Liquidated damages		$ 25,000
Revenue recognition period		20 years
Maximum [Member]
Deferred revenue
Annual volume of titanium metal to be converted (in pounds) | lb		10
Amount of loan offered by counterparty		$ 12,000

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net - Overview (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2021USD ($)
Goodwill and Other Intangible Assets, Net
Goodwill impairment loss	$ 0
Change to goodwill	$ 0
Customer relationships
Goodwill and Other Intangible Assets, Net
Useful life	15 years

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2021
Intangible Assets
Amortization of customer relationships, patents, non-competes and other intangibles	$ 118	$ 116
Total intangible assets, Gross Amount	6,897		$ 6,897
Finite-lived intangible assets, Accumulated Amortization	(1,429)		(1,311)
Carrying Amount	5,468		5,586
Customer relationships
Intangible Assets
Finite-Lived Intangible Assets, Gross	2,100		2,100
Finite-lived intangible assets, Accumulated Amortization	(1,029)		(995)
Finite-lived intangible assets, Carrying Amount	1,071		1,105
Other Intangible Assets [Member]
Intangible Assets
Finite-Lived Intangible Assets, Gross	997		997
Finite-lived intangible assets, Accumulated Amortization	(400)		(316)
Finite-lived intangible assets, Carrying Amount	597		681
Trademarks [Member]
Intangible Assets
Indefinite-lived intangible assets	$ 3,800		$ 3,800

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets, Net - Amortization Expense (Details) $ in Thousands	Dec. 31, 2021USD ($)
Estimate of Aggregate Amortization Expense:
2022	$ 347
2023	462
2024	142
2025	123
2026	120
Thereafter	$ 474

Net Income (Loss) Per Share - C

Net Income (Loss) Per Share - Computation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Numerator: Basic and Diluted
Net income (loss) - Basic	$ 4,659	$ (8,027)
Net income (loss) - Diluted	4,659	(8,027)
Dividends paid and accrued	(2,809)	(2,782)
Undistributed income (loss) - Basic	1,850	(10,809)
Undistributed income (loss) - Diluted	$ 1,850	$ (10,809)
Percentage allocated to common shares	98.90%	100.00%
Undistributed income (loss) allocated to common shares - Basic	$ 1,830	$ (10,809)
Undistributed income (loss) allocated to common shares - Diluted	1,830	(10,809)
Dividends paid on common shares outstanding	2,779	2,744
Net income (loss) available to common shares - Basic	4,609	(8,065)
Net income (loss) available to common shares - Diluted	$ 4,609	$ (8,065)
Denominator: Basic and Diluted
Weighted average shares outstanding - Basic (in shares)	12,368,821	12,492,985
Adjustment for dilutive potential common shares (in shares)	218,318
Weighted average shares outstanding - Diluted (in shares)	12,587,139	12,492,985
Basic net income (loss) per share (in dollars per share)	$ 0.37	$ (0.65)
Diluted net income (loss) per share (in dollars per share)	$ 0.37	$ (0.65)

Net Income (Loss) Per Share - A

Net Income (Loss) Per Share - Anti-dilutive Securities (Details) - shares	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Employee and Directors Stock Options
Antidilutive securities
Number of shares excluded as their effect would be anti-dilutive	236,861	358,346
Restricted Stock [Member]
Antidilutive securities
Number of shares excluded as their effect would be anti-dilutive	61,264	173,769
Deferred Restricted Stock
Antidilutive securities
Number of shares excluded as their effect would be anti-dilutive	3,780	35,616
Performance Shares
Antidilutive securities
Number of shares excluded as their effect would be anti-dilutive	55,008	64,467

Net Income (Loss) Per Share - W

Net Income (Loss) Per Share - Weighted Average Common Shares (Details) - shares	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Percentage allocated to common shares - weighted average
Weighted average shares outstanding - Basic (in shares)	12,368,821	12,492,985
Unvested participating shares	135,486
Total	12,504,307	12,492,985

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Plan and Performance Shares (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Restricted Stock [Member] | 2009 Restricted Stock Plan
Restricted stock plan activity, number of shares
Unvested and deferred at beginning of the period (in shares)	142,269
Granted (in shares)	31,704
Vested and deferred (in shares)	(38,487)
Unvested and deferred at end of the period (in shares)	135,486
Expected to vest (in shares)	135,486
Restricted stock plan activity, Weighted Average Fair Value at Grant Date
Unvested and deferred at beginning of the period (in dollars per share)	$ 26.78
Granted (in dollars per share)	44.07
Vested and deferred (in dollars per share)	30.43
Unvested and deferred at end of the period (in dollars per share)	29.78
Expected to vest (in dollars per share)	$ 29.78
Deferred Restricted Stock plan activity, number of shares
Vested (in shares)	38,487
Deferred Restricted Stock plan activity, Weighted Average Fair Value at Grant Date
Vested and deferred (in dollars per share)	$ 30.43
Restricted stock plan activity, other disclosures
Compensation expense	$ 392	$ 495
Remaining unrecognized compensation expense	$ 2,489
Weighted average period for recognition	1 year 3 months 25 days
Restricted Stock [Member] | 2009 Restricted Stock Plan | Employee
Restricted stock plan activity, other disclosures
Repurchase of stock from employees (in shares)	11,214
Average purchase price (in dollars per share)	$ 43.70
Deferred Restricted Stock | 2016 Restricted Stock Plan
Restricted stock plan activity, number of shares
Vested and deferred (in shares)	(28,833)
Restricted stock plan activity, Weighted Average Fair Value at Grant Date
Vested and deferred (in dollars per share)	$ 30.07
Deferred Restricted Stock plan activity, number of shares
Outstanding at beginning of period (in shares)	7,398
Granted (in shares)	3,801
Vested and deferred (in shares)	(7,398)
Outstanding at end of period (in shares)	3,801
Vested (in shares)	28,833
Deferred Restricted Stock plan activity, Weighted Average Fair Value at Grant Date
Outstanding at beginning of period (in dollars per share)	$ 22.64
Granted (in dollars per share)	44.07
Vested and deferred (in dollars per share)	22.64
Outstanding at end of period (in dollars per share)	44.07
Vested and deferred (in dollars per share)	$ 30.07
Restricted stock plan activity, other disclosures
Compensation expense	$ 42	63
Remaining unrecognized compensation expense	$ 154
Weighted average period for recognition	11 months 1 day
Performance Shares
Restricted stock plan activity, number of shares
Vested and deferred (in shares)	(24,282)
Deferred Restricted Stock plan activity, number of shares
Vested (in shares)	24,282
Performance Shares | Certain Employees
Stock-Based Compensation
Remaining unrecognized compensation expense	$ 2,234
Restricted stock plan activity, number of shares
Unvested and deferred at beginning of the period (in shares)	87,193
Granted (in shares)	21,520
Vested and deferred (in shares)	(24,282)
Unvested and deferred at end of the period (in shares)	84,431
Restricted stock plan activity, Weighted Average Fair Value at Grant Date
Unvested and deferred at beginning of the period (in dollars per share)	$ 37.24
Granted (in dollars per share)	61.04
Vested and deferred (in dollars per share)	44.93
Unvested and deferred at end of the period (in dollars per share)	$ 41.09
Deferred Restricted Stock plan activity, number of shares
Vested (in shares)	24,282
Deferred Restricted Stock plan activity, Weighted Average Fair Value at Grant Date
Vested and deferred (in dollars per share)	$ 44.93
Restricted stock plan activity, other disclosures
Stock issued to certain employees	20,911
Compensation expense	$ 229	$ 222
Weighted average period for recognition	1 year 9 months 25 days

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Plans (Details) - Employee and Directors Stock Options - USD ($) $ / shares in Units, $ in Thousands	Nov. 23, 2021	Dec. 31, 2021	Dec. 31, 2020
Fair value assumptions
Fair Value (in dollars per share)	$ 15.02
Dividend Yield (as a percent)	2.00%
Risk-Free Interest Rate (as a percent)	1.22%
Expected Volatility (as a percent)	45.00%
Expected Life	5 years
Stock-based employee compensation expense		$ 292	$ 279
Remaining unrecognized compensation expense		$ 1,471
Weighted average period for recognition		1 year 3 months 21 days
Activity under stock option plans, number of shares
Outstanding at beginning of the period (in shares)		702,576
Granted (in shares)		42,080
Exercised (in shares)		(3,650)
Canceled (in shares)		(10,000)
Outstanding at end of the period (in shares)		731,006
Vested or expected to vest (in shares)		664,230
Exercisable at end of period (in shares)		505,183
Outstanding at end of period, Aggregate Intrinsic Value		$ 4,879
Vested or expected to vest, Aggregate Intrinsic Value		4,430
Exercisable at end of the period, Aggregate Intrinsic Value		$ 2,665
Weighted Average Exercise Prices
Outstanding at beginning of the period (in dollars per share)		$ 34.68
Granted (in dollars per share)		44.07
Exercised (in dollars per share)		31.76
Canceled (in dollars per share)		55.88
Outstanding at end of period (in dollars per share)		34.95
Vested or expected to vest (in dollars per share)		34.94
Exercisable at end of the period (in dollars per share)		$ 36.61
Outstanding at end of the period, Weighted Average Remaining Contractual Life		6 years 10 months 6 days
Vested or expected to vest, Weighted Average Remaining Contractual Life		4 years 5 months 23 days
Exercisable at end of the period, Weighted Average Remaining Contractual Life		6 years 21 days

Dividend (Details)

Dividend (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 27, 2022	Dec. 31, 2021	Dec. 31, 2020
Common stock dividend
Dividend declared (in dollars per share)	$ 0.22	$ 0.22	$ 0.22
Dividend paid (in dollars per share)		$ 0.22	$ 0.22
Dividends paid		$ 2,811	$ 2,795

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accumulated other comprehensive income (loss)
Balance	$ 343,321	$ 301,501
Other comprehensive income (loss)	569	6,378
Balance	340,209	297,891
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated other comprehensive income (loss)
Balance	(12,341)	(74,601)
Other comprehensive income (loss) before reclassifications	569	4,850
Amounts reclassified from accumulated other comprehensive income (loss), Tax provision (benefit)	1	(463)
Other comprehensive income (loss)	569	6,378
Balance	(11,772)	(68,223)
Accumulated Other Comprehensive Income (Loss) [Member] | Pension Plan, Defined Benefit [Member]
Accumulated other comprehensive income (loss)
Balance	(14,791)	(65,393)
Amounts reclassified from accumulated other comprehensive income (loss), Tax provision (benefit)	(13)	(463)
Other comprehensive income (loss)	46	1,528
Balance	(14,745)	(63,865)
Accumulated Other Comprehensive Income (Loss) [Member] | Other Postretirement Benefit Plan, Defined Benefit [Member]
Accumulated other comprehensive income (loss)
Balance	9,017	613
Amounts reclassified from accumulated other comprehensive income (loss), Tax provision (benefit)	14
Other comprehensive income (loss)	(46)
Balance	8,971	613
Amortization of Pension and Postretirement Plan items
Accumulated other comprehensive income (loss)
Amounts reclassified from accumulated other comprehensive income (loss), before tax	51	51
Amortization of Pension and Postretirement Plan items | Pension Plan, Defined Benefit [Member]
Accumulated other comprehensive income (loss)
Amounts reclassified from accumulated other comprehensive income (loss), before tax	51	51
Actuarial losses
Accumulated other comprehensive income (loss)
Amounts reclassified from accumulated other comprehensive income (loss), before tax	(52)	1,940
Actuarial losses | Pension Plan, Defined Benefit [Member]
Accumulated other comprehensive income (loss)
Amounts reclassified from accumulated other comprehensive income (loss), before tax	8	1,940
Actuarial losses | Other Postretirement Benefit Plan, Defined Benefit [Member]
Accumulated other comprehensive income (loss)
Amounts reclassified from accumulated other comprehensive income (loss), before tax	(60)
Accumulated Translation Adjustment [Member]
Accumulated other comprehensive income (loss)
Balance	(6,567)	(9,821)
Other comprehensive income (loss) before reclassifications	569	4,850
Other comprehensive income (loss)	569	4,850
Balance	$ (5,998)	$ (4,971)

Long-term Obligations (Details)

Long-term Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Long-term obligations (less current portion)
Finance lease obligations	$ 7,559	$ 7,613
Environmental post-closure monitoring and maintenance activities	566	566
Long-term disability	225	231
Deferred dividends	207	210
Less amounts due within one year	(328)	(319)
Long-term obligations (less current portion)	$ 8,229	$ 8,301

Foreign Currency Forward Cont_3

Foreign Currency Forward Contracts (Details) - Selling, General and Administrative Expenses - Not Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Foreign currency balance sheet hedging
Foreign currency net gain (loss)	$ (560)	$ 172
Foreign Currency Transaction
Foreign currency balance sheet hedging
Foreign currency net gain (loss)	(220)	453
Foreign Exchange Forward
Foreign currency balance sheet hedging
Foreign currency net gain (loss)	$ (340)	$ (281)