ESCO (ESE) 10-Q 9 Feb 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Dec. 31, 2014	Jan. 31, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Entity Registrant Name	ESCO TECHNOLOGIES INC
Entity Central Index Key	866706
Trading Symbol	ESE
Current Fiscal Year End Date	-21
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		26,118,425

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Net sales	$120,547	$124,450
Costs and expenses:
Cost of sales	70,420	74,281
Selling, general and administrative expenses	33,504	33,872
Amortization of intangible assets	1,873	1,686
Interest expense, net	195	692
Other (income) expenses, net	-221	179
Total costs and expenses	105,771	110,710
Earnings before income taxes	14,776	13,740
Income tax expense	3,948	4,908
Net earnings from continuing operations	10,828	8,832
Earnings from discontinued operations, net of tax expense of $1,306	0	2,357
Net earnings	$10,828	$11,189
Earnings per share:
Basic - Continuing operations	$0.41	$0.33
- Discontinued operations	$0	$0.09
- Net earnings	$0.41	$0.42
Diluted - Continuing operations	$0.41	$0.33
- Discontinued operations	$0	$0.09
- Net earnings	$0.41	$0.42

CONSOLIDATED_STATEMENTS_OF_OPE1

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013
Earnings (loss) from discontinued operations, net of tax expense (benefit)	$1,306

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Net earnings	$10,828	$11,189
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	-2,463	574
Comprehensive income	$8,365	$11,763

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2014	Sep. 30, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$38,609	$35,131
Accounts receivable, net	87,478	105,449
Costs and estimated earnings on long-term contracts, less progress billings of $25,017 and $30,041 respectively	24,983	27,798
Inventories	101,015	94,292
Current portion of deferred tax assets	19,217	19,946
Other current assets	12,209	13,337
Total current assets	283,511	295,953
Property, plant and equipment, net of accumulated depreciation of $70,738 and $70,694, respectively	76,235	76,465
Intangible assets, net of accumulated amortization of $39,274 and $37,402, respectively	182,994	182,063
Goodwill	281,778	282,337
Other assets	9,195	9,088
Total assets	833,713	845,906
Current liabilities:
Current maturities of long-term debt	20,000	20,000
Accounts payable	23,765	40,328
Advance payments on long-term contracts, less costs incurred of $33,026 and $44,110, respectively	14,544	15,035
Accrued salaries	16,422	25,558
Current portion of deferred revenue	17,703	19,895
Accrued other expenses	21,518	26,284
Total current liabilities	113,952	147,100
Pension obligations	18,829	19,234
Deferred tax liabilities	77,335	77,440
Other liabilities	1,875	1,961
Long-term debt	40,000	20,000
Total liabilities	251,991	265,735
Shareholders' equity:
Preferred stock, par value $.01 per share, authorized 10,000,000 shares	0	0
Common stock, par value $.01 per share, authorized 50,000,000 shares, issued 30,287,467 and 30,247,512 shares, respectively	303	302
Additional paid-in capital	285,246	285,305
Retained earnings	408,189	399,451
Accumulated other comprehensive loss, net of tax	-21,649	-19,186
Total stockholders' equity before Treasury Stock	672,089	665,872
Less treasury stock, at cost: 4,172,642 and 4,040,532 common shares, respectively	-90,367	-85,701
Total shareholders' equity	581,722	580,171
Total liabilities and shareholders' equity	$833,713	$845,906

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2014	Sep. 30, 2014
In Thousands, except Share data, unless otherwise specified
Costs and estimated earnings on long-term contracts, progress billings	$25,017	$30,041
Property, plant and equipment, net of accumulated depreciation	70,738	70,694
Intangible assets, net of accumulated amortization	39,274	37,402
Advance payments on long-term contracts, costs incurred	$33,026	$44,110
Preferred stock, par value	$0.01	$0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	30,287,467	30,247,512
Treasury stock, shares	4,172,642	4,040,532

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net earnings	$10,828	$11,189
Adjustments to reconcile net earnings to net cash (used) provided by operating activities:
Net earnings from discontinued operations, net of tax	0	-2,357
Depreciation and amortization	4,282	4,040
Stock compensation expense	1,255	1,249
Changes in current assets and liabilities	-15,154	-7,954
Effect of deferred taxes	624	1,403
Change in deferred revenue and costs, net	-2,803	-1,196
Pension contributions	-620	-500
Other	1,190	-1,562
Net cash (used) provided by operating activities - continuing operations	-398	4,312
Net cash used by operating activities - discontinued operations	0	-10,997
Net cash provided by operating activities	-398	-6,685
Cash flows from investing activities:
Additions to capitalized software	-1,615	-1,826
Capital expenditures	-3,532	-2,135
Net cash used by investing activities - continuing operations	-5,147	-3,961
Net cash used by investing activities - discontinued operations	0	-1,794
Net cash used by investing activities	-5,147	-5,755
Cash flows from financing activities:
Proceeds from long-term debt	45,000	20,507
Principal payments on long-term debt	-25,000	-15,000
Dividends paid	-2,105	-2,124
Purchases of common stock into treasury	-6,363	0
Other	-46	0
Net cash provided by financing activities	11,486	3,383
Effect of exchange rate changes on cash and cash equivalents	-2,463	574
Net increase (decrease) in cash and cash equivalents	3,478	-8,483
Cash and cash equivalents, beginning of period	35,131	42,850
Cash and cash equivalents, end of period	$38,609	$34,367

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	1	BASIS OF PRESENTATION
	The accompanying consolidated financial statements, in the opinion of management, include all adjustments, consisting of normal recurring accruals, necessary for a fair presentation of the results for the interim periods presented. The consolidated financial statements are presented in accordance with the requirements of Form 10-Q and consequently do not include all the disclosures required for annual financial statements by accounting principles generally accepted in the United States of America (GAAP). For further information, refer to the consolidated financial statements and related notes included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2014.
	The Company’s business is typically not impacted by seasonality; however, the results for the three-month period ended December 31, 2014 are not necessarily indicative of the results for the entire 2015 fiscal year. References to the first quarters of 2015 and 2014 represent the fiscal quarters ended December 31, 2014 and 2013, respectively.
	In preparing the financial statements, the Company uses estimates and assumptions that may affect reported amounts and disclosures. The Company regularly evaluates the estimates and assumptions related to the allowance for doubtful trade receivables, inventory obsolescence, warranty reserves, value of equity-based awards, goodwill and purchased intangible asset valuations, asset impairments, employee benefit plan liabilities, income tax liabilities and assets and related valuation allowances, uncertain tax positions, and claims, litigation and other loss contingencies. Actual results could differ from those estimates.
	On March 28, 2014, the Company completed the sale of Aclara Technologies LLC (Aclara) to an affiliate of Sun Capital Partners. Aclara is reflected as discontinued operations in the consolidated financial statements and related notes for the periods presented, in accordance with accounting principles generally accepted in the United States of America (GAAP).

EARNINGS_PER_SHARE_EPS

EARNINGS PER SHARE (EPS)	3 Months Ended
	Dec. 31, 2014
Earnings Per Share (EPS) [Abstract]
EARNINGS PER SHARE (EPS)	2	EARNINGS PER SHARE (EPS)
	Basic EPS is calculated using the weighted average number of common shares outstanding during the period. Diluted EPS is calculated using the weighted average number of common shares outstanding during the period plus shares issuable upon the assumed exercise of dilutive common share options and vesting of performance-accelerated restricted shares (restricted shares) by using the treasury stock method. The number of shares used in the calculation of earnings per share for each period presented is as follows (in thousands):
			Three Months Ended
			December 31,
			2014		2013
	Weighted Average Shares Outstanding - Basic			26,191		26,483
	Dilutive Options and Restricted Shares			195		255
	Adjusted Shares - Diluted			26,386		26,738
	Options to purchase 5,683 shares of common stock at prices of $37.54 were outstanding during the three-month period ended December 31, 2013, but were not included in the computation of diluted EPS because the options' exercise prices were greater than the average market price of the common shares. Approximately 209,000 and 233,000 restricted shares were excluded from the computation of diluted EPS for the three-month periods ended December 31, 2014 and 2013, respectively, based upon the application of the treasury stock method.

SHAREBASED_COMPENSATION

SHARE-BASED COMPENSATION	3 Months Ended
	Dec. 31, 2014
Share-based Compensation [Abstract]
SHARE-BASED COMPENSATION		3	SHARE-BASED COMPENSATION
	The Company provides compensation benefits to certain key employees under several share-based plans providing for performance-accelerated restricted shares (restricted shares), and to non-employee directors under a non-employee directors compensation plan.
	Performance-Accelerated Restricted Share Awards
	Pretax compensation expense related to the restricted share awards was $1.0 million and $1.1 million for the three-month periods ended December 31, 2014 and 2013, respectively. There were 443,841 non-vested shares outstanding as of December 31, 2014.
	Non-Employee Directors Plan
	Pretax compensation expense related to the non-employee director grants was $0.2 million and $0.1 million for the three-month periods ended December 31, 2014 and 2013, respectively.
	The total share-based compensation cost that has been recognized in results of continuing operations and included within selling, general and administrative expenses (SG&A) was $1.3 million and $1.2 million for the three-month periods ended December 31, 2014 and 2013, respectively. The total income tax benefit recognized in results of operations for share-based compensation arrangements was $0.5 million and $0.5 million for the three-month periods ended December 31, 2014 and 2013, respectively. As of December 31, 2014, there was $7.5 million of total unrecognized compensation cost related to share-based compensation arrangements. That cost is expected to be recognized over a remaining weighted-average period of 1.7 years.

INVENTORIES

INVENTORIES	3 Months Ended
	Dec. 31, 2014
Inventories [Abstract]
INVENTORIES	4	INVENTORIES
	Inventories from continuing operations consist of the following:
			December 31,		September 30,
	(In thousands)		2014		2014
	Finished goods		$	19,169		18,949
	Work in process, including long-term contracts			35,096		31,634
	Raw materials			46,750		43,709
	Total inventories		$	101,015		94,292

BUSINESS_SEGMENT_INFORMATION

BUSINESS SEGMENT INFORMATION	3 Months Ended
	Dec. 31, 2014
Business Segment Information [Abstract]
BUSINESS SEGMENT INFORMATION	5	BUSINESS SEGMENT INFORMATION
	The Company is organized based on the products and services that it offers. Under this organizational structure, the Company has three reporting segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test), and Utility Solutions Group (USG). The Filtration segment’s operations consist of PTI Technologies Inc. (PTI), VACCO Industries (VACCO), Crissair, Inc. (Crissair) and Thermoform Engineered Quality LLC (TEQ). The companies within this segment primarily design and manufacture specialty filtration products, including hydraulic filter elements used in commercial aerospace applications, unique filter mechanisms used in micro-propulsion devices for satellites and custom designed filters for manned and unmanned aircraft. Test segment operations consist of ETS-Lindgren Inc. (ETS-Lindgren). ETS-Lindgren is an industry leader in providing its customers with the ability to identify, measure and contain magnetic, electromagnetic and acoustic energy. The USG segment’s operations consist of Doble Engineering Company (Doble). Doble provides high-end, intelligent diagnostic test solutions for the electric power delivery industry and is a leading supplier of partial discharge testing instruments used to assess the integrity of high voltage power delivery equipment.
	Management evaluates and measures the performance of its operating segments based on “Net Sales” and “EBIT”, which are detailed in the table below. EBIT is defined as earnings from continuing operations before interest and taxes. The table below is presented on the basis of continuing operations and excludes discontinued operations.
			Three Months Ended
	(In thousands)		December 31,
			2014		2013
	NET SALES
	Filtration		$	47,511		55,478
	Test			39,421		39,477
	USG			33,615		29,495
	Consolidated totals		$	120,547		124,450
	EBIT
	Filtration		$	7,076		9,484
	Test			3,795		3,575
	USG			9,977		7,647
	Corporate (loss)			-5,877		-6,274
	Consolidated EBIT			14,971		14,432
	Less: Interest expense			-195		-692
	Earnings before income taxes		$	14,776		13,740
	Non-GAAP Financial Measures
	The financial measure “EBIT” is presented in the above table and elsewhere in this Report. EBIT on a consolidated basis is a non-GAAP financial measure. Management believes that EBIT is useful in assessing the operational profitability of the Company’s business segments because it excludes interest and taxes, which are generally accounted for across the entire Company on a consolidated basis. EBIT is also one of the measures used by management in determining resource allocations within the Company as well as incentive compensation. A reconciliation of EBIT from continuing operations to net earnings from continuing operations is set forth in Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations – EBIT, below.
	The Company believes that the presentation of EBIT provides important supplemental information to investors by facilitating comparisons with other companies, many of which use similar non-GAAP financial measures to supplement their GAAP results. However, the Company’s non-GAAP financial measures may not be comparable to other companies’ non-GAAP financial performance measures. Furthermore, the use of non-GAAP financial measures is not intended to replace any measures of performance determined in accordance with GAAP.

DEBT

DEBT	3 Months Ended
	Dec. 31, 2014
Debt [Abstract]
DEBT		6	DEBT
	The Company’s debt is summarized as follows:
			December 31,		September 30,
	(In thousands)		2014		2014
	Total borrowings		$	60,000		40,000
	Short-term borrowings and current portion of long-term debt			-20,000		-20,000
	Total long-term debt, less current portion		$	40,000		20,000
	On May 14, 2012, the Company entered into a $450 million five-year revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent, PNC Bank, N.A., as syndication agent, and eight other participating lenders (the “Credit Facility). Through a credit facility expansion option, the Company may elect to increase the size of the credit facility by entering into incremental term loans, in any agreed currency, at a minimum of $25 million each up to a maximum of $250 million aggregate.
	At December 31, 2014, the Company had approximately $379 million available to borrow under the credit facility, and a $250 million increase option, in addition to $38.6 million cash on hand. At December 31, 2014, the Company had $60 million of outstanding borrowings under the credit facility in addition to outstanding letters of credit of $11.4 million. The Company’s ability to access the additional $250 million increase option of the credit facility is subject to acceptance by participating or other outside banks.
	The credit facility requires, as determined by certain financial ratios, a facility fee ranging from 17.5 to 35.0 basis points per year on the unused portion. The terms of the facility provide that interest on borrowings may be calculated at a spread over the London Interbank Offered Rate (LIBOR) or based on the prime rate, at the Company’s election. The facility is secured by the unlimited guaranty of the Company’s material domestic subsidiaries and a 65% pledge of the material foreign subsidiaries’ share equity. The financial covenants of the credit facility also include a leverage ratio and an interest coverage ratio. At December 31, 2014, the Company was in compliance with all debt covenants.

INCOME_TAX_EXPENSE

INCOME TAX EXPENSE	3 Months Ended
	Dec. 31, 2014
Income Tax Expense [Abstract]
INCOME TAX EXPENSE		7	INCOME TAX EXPENSE
	The first quarter 2015 effective income tax rate from continuing operations was 26.7% compared to 35.7% in the first quarter of 2014. The income tax expense in the first quarter of 2015 was favorably impacted by the extension of the research credit as a result of the Tax Increase Prevention Act of 2014 reducing the first quarter effective tax rate by 6.4%. The income tax expense in the first quarter of 2015 was favorably impacted by an increase in the foreign tax rate benefit of 1.1%. The Company estimates the fiscal 2015 effective tax rate from continuing operations will be approximately 34%.
	During the three-month period ended December 31, 2014, there was no material change in the unrecognized tax benefits. The Company does not anticipate a material change in the amount of unrecognized tax benefits in the next twelve months.

RETIREMENT_PLANS

RETIREMENT PLANS	3 Months Ended
	Dec. 31, 2014
Retirement Plans [Abstract]
RETIREMENT PLANS		8	RETIREMENT PLANS
	A summary of net periodic benefit expense for the Company’s defined benefit plans for the three-month periods ended December 31, 2014 and 2013 is shown in the following table. Net periodic benefit cost for each period presented is comprised of the following:
			Three Months Ended
			December 31,
	(In thousands)		2014		2013
	Defined benefit plans
	Interest cost		$	951		1,002
	Expected return on assets			-1,136		-1,104
	Amortization of:
	Prior service cost			3		3
	Actuarial loss			442		413
	Net periodic benefit cost		$	260		314

SUBSEQUENT_EVENT

SUBSEQUENT EVENT	3 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
SUBSEQUENT EVENT	9	SUBSEQUENT EVENT
	On January 28, 2015, the Company acquired the assets of ENOSERV LLC (ENOSERV), headquartered in Tulsa, Oklahoma. The Company provides utility customers with high quality, user-friendly agnostic software and has annual revenues of approximately $8 million. The operating results for ENOSERV will be included as part of Doble, within ESCO’s USG segment.

EARNINGS_PER_SHARE_EPS_Tables

EARNINGS PER SHARE (EPS) (Tables)	3 Months Ended
	Dec. 31, 2014
Earnings Per Share (EPS) [Abstract]
Schedule of Weighted Average Number of Shares	The number of shares used in the calculation of earnings per share for each period presented is as follows (in thousands):
		Three Months Ended
		December 31,
		2014		2013
	Weighted Average Shares Outstanding - Basic		26,191		26,483
	Dilutive Options and Restricted Shares		195		255
	Adjusted Shares - Diluted		26,386		26,738

INVENTORIES_Tables

INVENTORIES (Tables)	3 Months Ended
	Dec. 31, 2014
Inventories [Abstract]
Schedule Of Inventories	Inventories from continuing operations consist of the following:
		December 31,		September 30,
	(In thousands)	2014		2014
	Finished goods	$	19,169		18,949
	Work in process, including long-term contracts		35,096		31,634
	Raw materials		46,750		43,709
	Total inventories	$	101,015		94,292

BUSINESS_SEGMENT_INFORMATION_T

BUSINESS SEGMENT INFORMATION (Tables)	3 Months Ended
	Dec. 31, 2014
Business Segment Information [Abstract]
Schedule Of Net Sales And Earnings Before Income Tax	The table below is presented on the basis of continuing operations and excludes discontinued operations.
		Three Months Ended
	(In thousands)	December 31,
		2014		2013
	NET SALES
	Filtration	$	47,511		55,478
	Test		39,421		39,477
	USG		33,615		29,495
	Consolidated totals	$	120,547		124,450
	EBIT
	Filtration	$	7,076		9,484
	Test		3,795		3,575
	USG		9,977		7,647
	Corporate (loss)		-5,877		-6,274
	Consolidated EBIT		14,971		14,432
	Less: Interest expense		-195		-692
	Earnings before income taxes	$	14,776		13,740

DEBT_Tables

DEBT (Tables)	3 Months Ended
	Dec. 31, 2014
Debt [Abstract]
Schedule Of Debt	The Company’s debt is summarized as follows:
		December 31,		September 30,
	(In thousands)	2014		2014
	Total borrowings	$	60,000		40,000
	Short-term borrowings and current portion of long-term debt		-20,000		-20,000
	Total long-term debt, less current portion	$	40,000		20,000

RETIREMENT_PLANS_Tables

RETIREMENT PLANS (Tables)	3 Months Ended
	Dec. 31, 2014
Retirement Plans [Abstract]
Schedule Of Components Of Net Periodic Benefit Cost For Plans	Net periodic benefit cost for each period presented is comprised of the following:
		Three Months Ended
		December 31,
	(In thousands)	2014		2013
	Defined benefit plans
	Interest cost	$	951		1,002
	Expected return on assets		-1,136		-1,104
	Amortization of:
	Prior service cost		3		3
	Actuarial loss		442		413
	Net periodic benefit cost	$	260		314

Earnings_Per_Share_EPS_Number_

Earnings Per Share (EPS) (Number Of Shares Used In The Calculation Of Earnings Per Share) (Details)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Earning Per Share [Line Items]
Weighted Average Shares Outstanding - Basic	26,191	26,483
Dilutive Options and Restricted Shares	195	255
Adjusted Shares - Diluted	26,386	26,738

Earnings_Per_Share_EPS_Narrati

Earnings Per Share (EPS) (Narrative) (Details) (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Earning Per Share [Line Items]
Common Stock outstanding, but were not included in the computation of diluted EPS		5,683
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit		37.54
Restricted Shares [Member]
Earning Per Share [Line Items]
Common Stock outstanding, but were not included in the computation of diluted EPS	209,000	233,000

ShareBased_Compensation_Narrat

Share-Based Compensation (Narrative) (Details) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation cost	$1.30	$1.20
Performance-Accelerated Restricted Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pretax compensation expense	1	1.1
Non vested shares outstanding	443,841
Non-Employee Directors Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total income tax benefit recognized	0.5	0.5
Pretax compensation expense	0.2	0.1
Total unrecognized compensation cost related to share-based compensation arrangements	$7.50
Remaining weighted-average period for recognition of total unrecognized compensation cost	1 year 8 months 12 days

Inventories_Schedule_Of_Invent

Inventories (Schedule Of Inventories) (Details) (USD $)	Dec. 31, 2014	Sep. 30, 2014
In Thousands, unless otherwise specified
Inventory [Line Items]
Finished goods	$19,169	$18,949
Work in process, including long-term contracts	35,096	31,634
Raw materials	46,750	43,709
Total inventories	$101,015	$94,292

Business_Segment_Information_S

Business Segment Information (Schedule Of Net Sales And Earnings Before Income Tax) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Net sales	$120,547	$124,450
Consolidated EBIT	14,971	14,432
Less: Interest expense	-195	-692
Earnings before income taxes	14,776	13,740
Filtration [Member]
Segment Reporting Information [Line Items]
Net sales	47,511	55,478
Consolidated EBIT	7,076	9,484
Test [Member]
Segment Reporting Information [Line Items]
Net sales	39,421	39,477
Consolidated EBIT	3,795	3,575
USG [Member]
Segment Reporting Information [Line Items]
Net sales	33,615	29,495
Consolidated EBIT	9,977	7,647
Corporate (loss) [Member]
Segment Reporting Information [Line Items]
Consolidated EBIT	($5,877)	($6,274)

Debt_Schedule_Of_Debt_Details

Debt (Schedule Of Debt) (Details) (USD $)	Dec. 31, 2014	Sep. 30, 2014
In Thousands, unless otherwise specified
Debt Instrument [Line Items]
Total borrowings	$60,000	$40,000
Short-term borrowings and current portion of long-term debt	-20,000	-20,000
Total long-term debt, less current portion	$40,000	$20,000

Debt_Narrative_Details

Debt (Narrative) (Details) (USD $)	3 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	14-May-12
Debt Instrument [Line Items]
Available to borrow under the credit facility	$379,000,000
Cash on hand	38,609,000	35,131,000	34,367,000	42,850,000
Percentage of foreign subsidiaries' share equity	65.00%
Letters of Credit Outstanding, Amount	11,400,000
Line of Credit Facility, Amount Outstanding	60,000,000
Minimum [Member]
Debt Instrument [Line Items]
Incremental term loan					25,000,000
Credit facility fees	17.50%
Maximum [Member]
Debt Instrument [Line Items]
Incremental term loan	250,000,000				250,000,000
Credit facility fees	35.00%
JPMorgan Chase Bank N.A. [Member]
Debt Instrument [Line Items]
Revolving credit facility					450,000,000
Line Of Credit Facility Additional Borrowing Capacity	$250,000,000

Income_Tax_Expense_Narrative_D

Income Tax Expense (Narrative) (Details)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income Tax Expense [Line Items]
Effective Income Tax Rate	26.70%	35.70%
Increase in effective tax rate	6.40%
Estimated Effective Income Tax Rate Continuing Operations	34.00%
Effective Income Tax Rate Reconciliation Foreign Deferred Tax Liability	1.10%

Retirement_Plans_Schedule_Of_C

Retirement Plans (Schedule Of Components Of Net Periodic Benefit Cost For Plans) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Defined benefit plans
Interest cost	$951	$1,002
Expected return on assets	-1,136	-1,104
Amortization of Prior service cost	3	3
Amortization of Actuarial loss	442	413
Net periodic benefit cost	$260	$314

Subsequent_Event_Narrative_Det

Subsequent Event (Narrative) (Details) (ENOSERV LLC [Member], Subsequent Event [Member], USD $)	1 Months Ended
In Millions, unless otherwise specified	Jan. 28, 2015
ENOSERV LLC [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Business Acquisition, Pro Forma Revenue	$8