Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Dec. 31, 2013 | Jan. 31, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'ADDVANTAGE TECHNOLOGIES GROUP INC | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--09-30 | ' |
Entity Common Stock, Shares Outstanding | ' | 9,998,480 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0000874292 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 31-Dec-13 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Consolidated_Balance_Sheets_Un
Consolidated Balance Sheets (Unaudited) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
Current assets: | ' | ' |
Cash and cash equivalents | $7,744,725 | $8,366,657 |
Accounts receivable, net of allowance of $300,000 | 2,951,094 | 3,020,853 |
Income tax refund receivable | 110,397 | 272,380 |
Inventories, net of allowance for excess and obsolete inventory of $1,910,000 and $1,750,000, respectively | 23,006,484 | 20,730,453 |
Prepaid expenses | 117,129 | 122,283 |
Deferred income taxes | 1,166,000 | 1,066,000 |
Total current assets | 35,095,829 | 33,578,626 |
Property and equipment, at cost: | ' | ' |
Land and buildings | 8,794,272 | 8,794,272 |
Machinery and equipment | 3,126,796 | 3,125,422 |
Leasehold improvements | 9,633 | 9,633 |
Total property and equipment, at cost | 11,930,701 | 11,929,327 |
Less accumulated depreciation and amortization | -4,049,872 | -3,963,444 |
Net property and equipment | 7,880,829 | 7,965,883 |
Other assets: | ' | ' |
Goodwill | 1,560,183 | 1,560,183 |
Other assets | 11,428 | 11,428 |
Total other assets | 1,571,611 | 1,571,611 |
Total assets | 44,548,269 | 43,116,120 |
Current liabilities: | ' | ' |
Accounts payable | 2,906,907 | 1,308,869 |
Accrued expenses | 588,390 | 934,856 |
Notes payable – current portion | 184,008 | 184,008 |
Total current liabilities | 3,679,305 | 2,427,733 |
Notes payable, less current portion | 1,272,602 | 1,318,604 |
Deferred income taxes | 240,000 | 193,000 |
Shareholders’ equity: | ' | ' |
Common stock, $.01 par value; 30,000,000 shares authorized; 10,499,138 shares issued; and 9,998,480 shares outstanding | 104,991 | 104,991 |
Paid in capital | -5,564,658 | -5,578,500 |
Retained earnings | 45,816,043 | 45,650,306 |
Total shareholders’ equity before treasury stock | 40,356,376 | 40,176,797 |
Less: Treasury stock, 500,658 shares, at cost | -1,000,014 | -1,000,014 |
Total shareholders’ equity | 39,356,362 | 39,176,783 |
Total liabilities and shareholders’ equity | $44,548,269 | $43,116,120 |
Consolidated_Balance_Sheets_Un1
Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
Accounts receivable, allowance (in Dollars) | $300,000 | $300,000 |
Allowance for excess and obsolete inventory (in Dollars) | $1,910,000 | $1,750,000 |
Common stock, par value (in Dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 30,000,000 | 30,000,000 |
Common stock, shares issued | 10,499,138 | 10,499,138 |
Common stock, shares outstanding | 9,998,480 | 9,998,480 |
Treasury stock, shares | 500,658 | 500,658 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Unauditied) (USD $) | 3 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Sales: | ' | ' |
Net new sales income | $4,279,785 | $5,598,898 |
Net refurbished sales income | 1,733,579 | 3,013,217 |
Net service income | 878,463 | 1,004,083 |
Total net sales | 6,891,827 | 9,616,198 |
Cost of sales | 4,786,140 | 6,470,370 |
Gross profit | 2,105,687 | 3,145,828 |
Operating, selling, general and administrative expenses | 1,832,967 | 1,853,530 |
Income from operations | 272,720 | 1,292,298 |
Interest expense | 5,983 | 6,881 |
Income before provision for income taxes | 266,737 | 1,285,417 |
Provision for income taxes | 101,000 | 488,000 |
Net income attributable to common shareholders | $165,737 | $797,417 |
Earnings per share: | ' | ' |
Basic (in Dollars per share) | $0.02 | $0.08 |
Diluted (in Dollars per share) | $0.02 | $0.08 |
Shares used in per share calculation: | ' | ' |
Basic (in Shares) | 9,998,480 | 10,185,026 |
Diluted (in Shares) | 10,009,689 | 10,185,398 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Operating Activities | ' | ' |
Net income | $165,737 | $797,417 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 86,428 | 78,723 |
Provision for excess and obsolete inventories | 160,000 | 160,000 |
Deferred income tax benefit | -53,000 | -24,000 |
Share based compensation expense | 31,341 | 41,392 |
Changes in assets and liabilities: | ' | ' |
Accounts receivable | 69,759 | -119,536 |
Income tax refund receivable | 161,983 | 409,386 |
Inventories | -2,436,031 | 873,931 |
Prepaid expenses | -12,345 | 28,803 |
Other assets | ' | 2,350 |
Accounts payable | 1,598,038 | 261,549 |
Income tax payable | ' | 107,918 |
Accrued expenses | -346,466 | -348,728 |
Net cash provided by (used in) operating activities | -574,556 | 2,269,205 |
Investing Activities | ' | ' |
Additions to machinery and equipment | -1,374 | ' |
Net cash used in investing activities | -1,374 | ' |
Financing Activities | ' | ' |
Payments on notes payable | -46,002 | -46,002 |
Purchases of treasury stock | ' | -68,713 |
Net cash used in financing activities | -46,002 | -114,715 |
Net increase (decrease) in cash and cash equivalents | -621,932 | 2,154,490 |
Cash and cash equivalents at beginning of period | 8,366,657 | 5,191,514 |
Cash and cash equivalents at end of period | 7,744,725 | 7,346,004 |
Supplemental cash flow information: | ' | ' |
Cash paid for interest | 5,953 | 6,847 |
Cash paid for income taxes | $0 | $0 |
Note_1_Basis_of_Presentation_a
Note 1 - Basis of Presentation and Description of Business | 3 Months Ended |
Dec. 31, 2013 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
Note 1 - Basis of Presentation and Description of Business | |
Basis of presentation | |
The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial statements and do not include all the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. However, the information furnished reflects all adjustments, consisting only of normal recurring items which are, in the opinion of management, necessary in order to make the consolidated financial statements not misleading. The consolidated financial statements as of September 30, 2013 have been audited by an independent registered public accounting firm. It is suggested that these consolidated financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K/A for the fiscal year ended September 30, 2013. | |
ADDvantage Technologies Group, Inc., through its subsidiaries Tulsat Corporation, Tulsat-Atlanta LLC, ADDvantage Technologies Group of Nebraska (dba Tulsat-Nebraska), ADDvantage Technologies Group of Texas, Inc. (dba Tulsat-Texas), NCS Industries, Inc., ADDvantage Technologies Group of Missouri, Inc. (dba ComTech Services) and Adams Global Communications, LLC (collectively, the “Company”), sells new, surplus and re-furbished cable television equipment throughout North America, Central America, South America and, to a substantially lesser extent, other international regions that utilize the same technology. In addition, the Company also repairs cable television equipment for various cable companies. The Company operates in one business segment and product sales consist of different types of equipment used in the cable television equipment industry. | |
Fair value of financial instruments | |
The carrying amounts of accounts receivable and accounts payable approximate fair value due to their short maturities. The carrying value of the term debt approximates fair value since the interest rate fluctuates periodically based on a floating interest rate. |
Note_2_Inventories
Note 2 - Inventories | 3 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventory Disclosure [Text Block] | ' | ||||||||
Note 2 – Inventories | |||||||||
Inventories at December 31, 2013 and September 30, 2013 are as follows: | |||||||||
December 31, | September 30, | ||||||||
2013 | 2013 | ||||||||
New | $ | 18,957,434 | $ | 16,355,035 | |||||
Refurbished | 5,959,050 | 6,125,418 | |||||||
Allowance for excess and obsolete inventory | (1,910,000 | ) | (1,750,000 | ) | |||||
$ | 23,006,484 | $ | 20,730,453 | ||||||
New inventory includes products purchased from the manufacturers plus “surplus-new”, which are unused products purchased from other distributors or multiple system operators. Refurbished inventory includes factory refurbished, Company refurbished and used products. Generally, the Company does not refurbish its used inventory until there is a sale of that product or to keep a certain quantity on hand. | |||||||||
The Company regularly reviews inventory quantities on hand, and an adjustment to cost is recognized when the loss of usefulness of an item or other factors, such as obsolete and excess inventories, indicate that cost will not be recovered when an item is sold. The Company recorded charges to allow for obsolete inventory during the three months ended December 31, 2013 and 2012, increasing the cost of sales by approximately $0.2 million each year. |
Note_3_Line_of_Credit_and_Note
Note 3 - Line of Credit and Notes Payable | 3 Months Ended |
Dec. 31, 2013 | |
Debt Disclosure [Abstract] | ' |
Debt Disclosure [Text Block] | ' |
Note 3 – Line of Credit and Notes Payable | |
Notes Payable | |
The Company has an Amended and Restated Revolving Credit and Term Loan Agreement (“Credit and Term Loan Agreement”). The only outstanding term loan under the Credit and Term Loan Agreement has an outstanding balance of approximately $1.5 million at December 31, 2013 and is due on November 20, 2021, with monthly principal payments of $15,334 plus accrued interest. The interest rate is the prevailing 30-day LIBOR rate plus 1.4% (1.57% at December 31, 2013) and is reset monthly. This term loan is collateralized by inventory, accounts receivable, equipment and fixtures and general intangibles. | |
Line of Credit | |
The Company has a $7.0 million Revolving Line of Credit (“Line of Credit”) under the Credit and Term Loan Agreement. At December 31, 2013, the Company had no amount outstanding under the Line of Credit. The Line of Credit requires quarterly interest payments based on the prevailing 30-day LIBOR rate plus 2.75% (2.92% at December 31, 2013), and the interest rate is reset monthly. Any future borrowings under the Line of Credit are due on November 28, 2014. Future borrowings under the Line of Credit are limited to the lesser of $7.0 million or the net balance of 80% of qualified accounts receivable plus 50% of qualified inventory. Under these limitations, the Company’s total available Line of Credit borrowing base was $7.0 million at December 31, 2013. Among other financial covenants, the Line of Credit agreement provides that the Company maintain a fixed charge ratio of coverage (EBITDA to total fixed charges) of not less than 1.25 to 1.0, determined quarterly. The Line of Credit is collateralized by inventory, accounts receivable, equipment and fixtures and general intangibles. | |
The carrying value of the Company’s borrowings approximates fair value since the interest rate fluctuates periodically based on a floating interest rate. |
Note_4_Earnings_Per_Share
Note 4 - Earnings Per Share | 3 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Earnings per share: [Abstract] | ' | ||||||||
Earnings Per Share [Text Block] | ' | ||||||||
Note 4 – Earnings Per Share | |||||||||
Basic earnings per share are based on the sum of the average number of common shares outstanding and issuable restricted and deferred shares. Diluted earnings per share include any dilutive effect of stock options and restricted stock. In computing the diluted weighted average shares, the average stock price for the period is used in determining the number of shares assumed to be reacquired under the treasury stock method from the exercise of options. | |||||||||
Basic and diluted earnings per share for the three months ended December 31, 2013 and 2012 are: | |||||||||
Three Months Ended | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Net income attributable to common shareholders | $ | 165,737 | $ | 797,417 | |||||
Basic weighted average shares | 9,998,480 | 10,185,026 | |||||||
Effect of dilutive securities: | |||||||||
Stock options | 11,209 | 372 | |||||||
Diluted weighted average shares | 10,009,689 | 10,185,398 | |||||||
Earnings per common share: | |||||||||
Basic | $ | 0.02 | $ | 0.08 | |||||
Diluted | $ | 0.02 | $ | 0.08 | |||||
Note_5_Stock_Options_Plan
Note 5 - Stock Options Plan | 3 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||
Note 5 – Stock Option Plan | |||||||||
Plan Information | |||||||||
The 1998 Incentive Stock Plan (the “Plan”) provides for awards of stock options and restricted stock to officers, directors, key employees and consultants. The Plan provides that upon any issuance of additional shares of common stock by the Company, other than pursuant to the Plan, the number of shares covered by the Plan will increase to an amount equal to 10% of the then outstanding shares of common stock. Under the Plan, option prices will be set by the Board of Directors and may be greater than, equal to, or less than fair market value on the grant date. | |||||||||
At December 31, 2013, 1,024,656 shares of common stock were reserved for the exercise of, or lapse of restrictions on, stock awards under the Plan. Of these reserved shares, 280,141 shares were available for future grants. | |||||||||
Stock Options | |||||||||
All share-based payments to employees, including grants of employee stock options, are recognized in the financial statements based on their grant date fair value over the requisite service period. Compensation expense for share-based awards is included in the operating, selling, general and administrative expense section of the Company’s Consolidated Statements of Income. | |||||||||
Stock options are valued at the date of the award, which does not precede the approval date, and compensation cost is recognized on a straight-line basis over the vesting period. Stock options granted to employees generally become exercisable over a four or five-year period from the date of grant and generally expire ten years after the date of grant. Stock options granted to the Board of Directors generally become exercisable on the date of grant and generally expire ten years after the grant. | |||||||||
A summary of the status of the Company's stock options at December 31, 2013 and changes during the three months then ended is presented below: | |||||||||
Shares | Wtd. Avg. | ||||||||
Ex. Price | |||||||||
Outstanding at September 30, 2013 | 363,000 | $ | 2.83 | ||||||
Granted | – | – | |||||||
Exercised | – | – | |||||||
Expired | – | – | |||||||
Forfeited | – | – | |||||||
Outstanding at December 31, 2013 | 363,000 | $ | 2.83 | ||||||
Exercisable at December 31, 2013 | 163,000 | $ | 3.3 | ||||||
No nonqualified stock options were granted for the three months ended December 31, 2013. The Company estimates the fair value of the options granted using the Black-Scholes option valuation model. The Company estimates the expected term of options granted based on the historical grants and exercises of the Company’s options. The Company estimates the volatility of its common stock at the date of the grant based on both the historical volatility as well as the implied volatility on its common stock. The Company bases the risk-free rate that is used in the Black-Scholes option valuation model on the implied yield in effect at the time of the option grant on U.S. Treasury zero-coupon issues with equivalent expected term. The Company has never paid cash dividends on its common stock and does not anticipate paying cash dividends in the foreseeable future. Consequently, the Company uses an expected dividend yield of zero in the Black-Scholes option valuation model. The Company amortizes the resulting fair value of the options ratably over the vesting period of the awards. The Company uses historical data to estimate the pre-vesting option forfeitures and records share-based expense only for those awards that are expected to vest. | |||||||||
Compensation expense related to unvested stock options recorded for the three months ended December 31, 2013 is as follows: | |||||||||
Three Months Ended | |||||||||
31-Dec-13 | |||||||||
Fiscal year 2012 grant | $ | 13,842 | |||||||
The Company records compensation expense over the vesting term of the related options. At December 31, 2013, compensation costs related to these unvested stock options not yet recognized in the Company’s Consolidated Statements of Income was $97,347. | |||||||||
Restricted Stock | |||||||||
The Company granted restricted stock in March 2013 to its Board of Directors totaling 31,815 shares, which were valued at market value on the date of grant. The shares are being held by the Company for 12 months and will be delivered to the directors and employee at the end of the 12 month holding period. The fair value of these shares upon issuance totaled $70,000 and is being amortized over the 12 month holding period as compensation expense. The unamortized portion of the restricted stock is included in prepaid expenses on the Company’s Consolidated Balance Sheets. |
Note_6_Subsequent_Event
Note 6 - Subsequent Event | 3 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
Note 6 – Subsequent Event | |
Subsequent to December 31, 2013, the Company received an unsolicited offer to buy Adams Global Communications LLC (“AGC”). The Company elected to pursue this opportunity to sell AGC as management determined that AGC did not fit within the Company’s primary cable television equipment distribution business of selling new and used headend and access and transport equipment, and AGC was not performing to the Company’s expectations. On January 31, 2014, the Company entered into an agreement to sell the majority of the net assets and operations of Adams Global Communications to Adams Cable Equipment, a supplier of customer premise equipment (“CPE”) and other products for the cable television industry, for approximately $2 million in cash. As part of the sales agreement, ADDvantage retains their existing relationship with ARRIS, as well as non-CPE inventory consisting primarily of headend and access and transport equipment. In addition, ADDvantage will retain the AGC facility. As part of the agreement, the Company also agreed to not compete in the used CPE market for three years. AGC’s net assets that were disposed of consisted of approximately $2.6 million of current assets, $0.5 million of noncurrent assets and $0.1 million of current liabilities, which will yield a loss on the sale, net of tax, of approximately $0.6 million. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 3 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Accounting, Policy [Policy Text Block] | ' |
Basis of presentation | |
The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial statements and do not include all the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. However, the information furnished reflects all adjustments, consisting only of normal recurring items which are, in the opinion of management, necessary in order to make the consolidated financial statements not misleading. The consolidated financial statements as of September 30, 2013 have been audited by an independent registered public accounting firm. It is suggested that these consolidated financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K/A for the fiscal year ended September 30, 2013. | |
ADDvantage Technologies Group, Inc., through its subsidiaries Tulsat Corporation, Tulsat-Atlanta LLC, ADDvantage Technologies Group of Nebraska (dba Tulsat-Nebraska), ADDvantage Technologies Group of Texas, Inc. (dba Tulsat-Texas), NCS Industries, Inc., ADDvantage Technologies Group of Missouri, Inc. (dba ComTech Services) and Adams Global Communications, LLC (collectively, the “Company”), sells new, surplus and re-furbished cable television equipment throughout North America, Central America, South America and, to a substantially lesser extent, other international regions that utilize the same technology. In addition, the Company also repairs cable television equipment for various cable companies. The Company operates in one business segment and product sales consist of different types of equipment used in the cable television equipment industry. | |
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' |
Fair value of financial instruments | |
The carrying amounts of accounts receivable and accounts payable approximate fair value due to their short maturities. The carrying value of the term debt approximates fair value since the interest rate fluctuates periodically based on a floating interest rate. |
Note_2_Inventories_Tables
Note 2 - Inventories (Tables) | 3 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||||
December 31, | September 30, | ||||||||
2013 | 2013 | ||||||||
New | $ | 18,957,434 | $ | 16,355,035 | |||||
Refurbished | 5,959,050 | 6,125,418 | |||||||
Allowance for excess and obsolete inventory | (1,910,000 | ) | (1,750,000 | ) | |||||
$ | 23,006,484 | $ | 20,730,453 |
Note_4_Earnings_Per_Share_Tabl
Note 4 - Earnings Per Share (Tables) | 3 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Earnings per share: [Abstract] | ' | ||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||
Three Months Ended | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Net income attributable to common shareholders | $ | 165,737 | $ | 797,417 | |||||
Basic weighted average shares | 9,998,480 | 10,185,026 | |||||||
Effect of dilutive securities: | |||||||||
Stock options | 11,209 | 372 | |||||||
Diluted weighted average shares | 10,009,689 | 10,185,398 | |||||||
Earnings per common share: | |||||||||
Basic | $ | 0.02 | $ | 0.08 | |||||
Diluted | $ | 0.02 | $ | 0.08 |
Note_5_Stock_Options_Plan_Tabl
Note 5 - Stock Options Plan (Tables) | 3 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||
Shares | Wtd. Avg. | ||||||||
Ex. Price | |||||||||
Outstanding at September 30, 2013 | 363,000 | $ | 2.83 | ||||||
Granted | – | – | |||||||
Exercised | – | – | |||||||
Expired | – | – | |||||||
Forfeited | – | – | |||||||
Outstanding at December 31, 2013 | 363,000 | $ | 2.83 | ||||||
Exercisable at December 31, 2013 | 163,000 | $ | 3.3 | ||||||
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | ' | ||||||||
Three Months Ended | |||||||||
31-Dec-13 | |||||||||
Fiscal year 2012 grant | $ | 13,842 |
Note_2_Inventories_Details
Note 2 - Inventories (Details) (USD $) | 3 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Inventory Disclosure [Abstract] | ' | ' |
Inventory Write-down | $160,000 | $160,000 |
Note_2_Inventories_Details_Inv
Note 2 - Inventories (Details) - Inventories (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
Inventories [Abstract] | ' | ' |
New | $18,957,434 | $16,355,035 |
Refurbished | 5,959,050 | 6,125,418 |
Allowance for excess and obsolete inventory | -1,910,000 | -1,750,000 |
$23,006,484 | $20,730,453 |
Note_3_Line_of_Credit_and_Note1
Note 3 - Line of Credit and Notes Payable (Details) (USD $) | 3 Months Ended |
Dec. 31, 2013 | |
Note 3 - Line of Credit and Notes Payable (Details) [Line Items] | ' |
Loans Payable (in Dollars) | $1,500,000 |
Debt Instrument, Frequency of Periodic Payment | 'monthly |
Debt Instrument, Periodic Payment, Principal (in Dollars) | 15,334 |
Debt Instrument, Interest Rate at Period End | 1.57% |
Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | ' |
Note 3 - Line of Credit and Notes Payable (Details) [Line Items] | ' |
Debt Instrument, Basis Spread on Variable Rate | 2.75% |
Line of Credit [Member] | ' |
Note 3 - Line of Credit and Notes Payable (Details) [Line Items] | ' |
Debt Instrument, Interest Rate at Period End | 2.92% |
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars) | 7,000,000 |
Line of Credit Facility, Amount Outstanding (in Dollars) | 0 |
Percentage of Qualified Accounts Receivable Used In Determination of Maximum Borrowing Capacity of Line of Credit | 80.00% |
Percentage of Qualified Inventory Used In Determination of Maximum Borrowing Capacity of Line of Credit | 50.00% |
Line of Credit Facility, Current Borrowing Capacity (in Dollars) | $7,000,000 |
Fixed Charge Coverage Ratio | 1.25 |
London Interbank Offered Rate (LIBOR) [Member] | ' |
Note 3 - Line of Credit and Notes Payable (Details) [Line Items] | ' |
Debt Instrument, Basis Spread on Variable Rate | 1.40% |
Note_4_Earnings_Per_Share_Deta
Note 4 - Earnings Per Share (Details) - Basic and Diluted Earnings Per Share (USD $) | 3 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Basic and Diluted Earnings Per Share [Abstract] | ' | ' |
Net income attributable to common shareholders (in Dollars) | $165,737 | $797,417 |
Basic weighted average shares | 9,998,480 | 10,185,026 |
Effect of dilutive securities: | ' | ' |
Stock options | 11,209 | 372 |
Diluted weighted average shares | 10,009,689 | 10,185,398 |
Earnings per common share: | ' | ' |
Basic (in Dollars per share) | $0.02 | $0.08 |
Diluted (in Dollars per share) | $0.02 | $0.08 |
Note_5_Stock_Options_Plan_Deta
Note 5 - Stock Options Plan (Details) (USD $) | 1 Months Ended | 3 Months Ended |
Mar. 31, 2013 | Dec. 31, 2013 | |
Note 5 - Stock Options Plan (Details) [Line Items] | ' | ' |
Percentage Increase In Number of Shares of Incentive Stock Plan Upon Issuance of Additional Shares | ' | 10.00% |
Common Stock, Capital Shares Reserved for Future Issuance (in Shares) | ' | 1,024,656 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | ' | 280,141 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | ' | 97,347 |
Restricted Stock Holding Period | '12 months | ' |
Fair Value of Restricted Shares Upon Issuance (in Dollars) | 70,000 | ' |
Employees [Member] | ' | ' |
Note 5 - Stock Options Plan (Details) [Line Items] | ' | ' |
Stock Options, Expiration Period | ' | '10 years |
Employees [Member] | Minimum [Member] | ' | ' |
Note 5 - Stock Options Plan (Details) [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | '4 years |
Employees [Member] | Maximum [Member] | ' | ' |
Note 5 - Stock Options Plan (Details) [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | '5 years |
Board of Directors [Member] | ' | ' |
Note 5 - Stock Options Plan (Details) [Line Items] | ' | ' |
Stock Options, Expiration Period | ' | '10 years |
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in Shares) | 31,815 | ' |
Note_5_Stock_Options_Plan_Deta1
Note 5 - Stock Options Plan (Details) - Summary of the Status of the Company's Stock Options (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
Summary of the Status of the Company's Stock Options [Abstract] | ' | ' |
Outstanding at September 30, 2013 | 363,000 | 363,000 |
Outstanding at September 30, 2013 (in Dollars per share) | $2.83 | $2.83 |
Outstanding at December 31, 2013 | 363,000 | 363,000 |
Outstanding at December 31, 2013 (in Dollars per share) | $2.83 | $2.83 |
Exercisable at December 31, 2013 | 163,000 | ' |
Exercisable at December 31, 2013 (in Dollars per share) | $3.30 | ' |
Note_5_Stock_Options_Plan_Deta2
Note 5 - Stock Options Plan (Details) - Compensation Expense Related to Unvested Stock Options (Employee Stock Option [Member], Fiscal Year 2012 Grant [Member], USD $) | 3 Months Ended |
Dec. 31, 2013 | |
Employee Stock Option [Member] | Fiscal Year 2012 Grant [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Fiscal year 2012 grant | $13,842 |
Note_6_Subsequent_Event_Detail
Note 6 - Subsequent Event (Details) (Subsequent Event [Member], Adams Cable Equipment [Member], Adams Global Communications [Member], USD $) | 1 Months Ended |
In Millions, unless otherwise specified | Jan. 31, 2014 |
Subsequent Event [Member] | Adams Cable Equipment [Member] | Adams Global Communications [Member] | ' |
Note 6 - Subsequent Event (Details) [Line Items] | ' |
Proceeds from Divestiture of Interest in Consolidated Subsidiaries | $2 |
Noncompete Term | '3 years |
Assets of Disposal Group, Including Discontinued Operation, Current | 2.6 |
Assets of Disposal Group, Including Discontinued Operation, Noncurrent | 0.5 |
Liabilities of Disposal Group, Including Discontinued Operation, Current | 0.1 |
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | ($0.60) |