Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
 12 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2011
OPERATIONS      
Net income $ 14,342,598 $ 15,299,321 $ 5,399,051
Depreciation and amortization 556,304 461,447 464,909
Amortization of deferred income from grant - BLCF (24,831) (24,831) (24,831)
Provision for obsolete inventory (6,662) 128,360 177,726
Provision for bad debts 3,180 42,375 6,036
Interest added to certificate of deposit   (252) (3,223)
Share-based compensation 727,609 842,512 796,453
Deferred income taxes (5,259,065) (4,893,933) (2,464,050)
Loss on disposal of fixed assets 940 11,220  
Changes in operating assets and liabilities:      
Accounts receivable 4,903,572 (5,005,819) 2,149,008
Income tax receivable (51,071) (27,369) 28,179
Inventories (994,556) 439,969 (9,924)
Prepaid expenses and other assets 93,933 (332,977) (10,618)
Accounts payable (871,278) 573,531 490,398
Accrued expenses and other current liabilities (1,627,592) 2,842,500 (30,959)
Net cash provided by operating activities 11,793,081 10,356,054 6,968,155
INVESTING ACTIVITIES      
Proceeds from redemption of certificate of deposit   64,127  
Capital expenditures (302,198) (718,303) (46,287)
Net cash used in investing activities (302,198) (654,176) (46,287)
FINANCING ACTIVITIES      
Payments on capital lease obligations   (13,037) (12,999)
Proceeds from exercise of common stock warrants   13,000  
Purchases of common stock for treasury shares (395,667) (289,611) (33,063)
Taxes paid in lieu of shares   (2,177,943)  
Dividends paid on common stock (7,468,248) (6,192,675) (5,545,310)
Net cash used in financing activities (7,863,915) (8,660,266) (5,591,372)
Net increase in cash 3,626,968 1,041,612 1,330,496
Cash at beginning of year 5,295,462 4,253,850 2,923,354
CASH AT END OF YEAR 8,922,430 5,295,462 4,253,850
Supplemental Disclosure of Cash Flow Information:      
Cash payments for income taxes 345,657 926,434 57,148
Schedule of noncash financing and investing activities:      
Dividends payable 12,530 19,320 16,100
Reduction of accrued expense upon issuance of shares 200,088 174,185 221,970
Fixed asset additions in accounts payable at year end   $ 124,802