Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
 12 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2010
OPERATIONS      
Net income $ 15,299,321 $ 5,399,051 $ 6,737,078
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 461,447 464,909 466,544
Amortization of deferred gain on sale and leaseback of building     (657,605)
Amortization of deferred income from grant - BLCF (24,831) (24,831) (24,831)
Provision for obsolete inventory 128,360 177,726 (2,066)
Provision for bad debts 42,375 6,036  
Interest added to certificate of deposit (252) (3,223) (2,613)
Share-based compensation 842,512 796,453 471,811
Deferred income taxes (4,893,933) (2,464,050) (2,538,624)
Loss on disposal of fixed assets 11,220   8,145
Changes in operating assets and liabilities:      
Accounts receivable (5,005,819) 2,149,008 3,345,490
Income tax receivable (27,369) 28,179 39,927
Inventories 439,969 (9,924) (989,201)
Prepaid expenses and other assets (332,977) (10,618) 56,175
Accounts payable 573,531 490,398 (15,600)
Accrued expenses and other current liabilities 2,842,500 (30,959) (2,902,775)
Net cash provided by operating activities 10,356,054 6,968,155 3,991,855
INVESTING ACTIVITIES      
(Increase) decrease in restricted cash (156) 52 100,496
Proceeds from redemption of Certificate of Deposit 64,127    
Capital expenditures (718,303) (46,287) (51,133)
Net cash (used in) provided by investing activities (654,332) (46,235) 49,363
FINANCING ACTIVITIES      
Payments on capital lease obligations (13,037) (12,999) (29,279)
Proceeds from exercise of stock options     157,900
Proceeds from exercise of common stock warrants 13,000   725,600
Purchases of common stock for treasury shares (289,611) (33,063) (349,058)
Taxes paid in lieu of shares (2,177,943)   (313,760)
Dividends paid on common stock (6,192,675) (5,545,310) (4,124,042)
Net cash used in financing activities (8,660,266) (5,591,372) (3,932,639)
Net increase in cash 1,041,456 1,330,548 108,579
Cash at beginning of year 4,249,324 2,918,776 2,810,197
CASH AT END OF YEAR 5,290,780 4,249,324 2,918,776
Supplemental Disclosure of Cash Flow Information:      
Cash payments for income taxes 926,434 57,148 111,929
Schedule of noncash financing and investing activities:      
Dividends declared (unpaid dividends on restricted stock) 19,320 16,100 13,800
Reduction of accrued expense upon issuance of shares 174,185 221,970 92,180
Fixed asset additions in accounts payable at year end $ 124,802