Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

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Statements of Cash Flows (USD $)
 12 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2012
Net income $ 5,432,851 $ 4,733,844 $ 7,701,194
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 699,869 476,400 404,765
Deferred income taxes 3,019,626 2,564,045 (3,436,931)
Loss on sale of assets 12,809 15,388 23,645
Stock-based compensation expense 794,865 753,727 470,710
Changes in operating assets and liabilities:      
Accounts receivable, net 2,809,687 (4,814,907) 206,228
Inventories 236,422 (2,655,150) (212,854)
Other current assets (243,339) (15,157) (307,410)
Accounts payable and accrued expenses (1,234,039) 3,280,866 (1,023,016)
Net cash provided by operating activities 11,528,751 4,339,056 3,826,331
Cash flows from investing activities:      
Purchases of property and equipment (1,418,461) (1,018,453) (550,618)
Purchase of investments (8,899,000) (8,683,000) (11,942,000)
Proceeds from sale of property and equipment 40,908 6,500  
Patent additions (36,544) (18,853) (40,423)
Sale of investments 6,727,000 9,600,000 2,819,000
Net cash used in investing activities (3,586,097) (113,806) (9,714,041)
Cash flows from financing activities:      
Proceeds from issuance of common stock under employee stock purchase plan 185,584 135,981 142,542
Proceeds from issuance of common stock 646,453 64,066 142,284
Excess tax benefit from exercise of stock options 8,474 2,505  
Tax withholding related to vesting of restricted stock grants and exercise of stock options (399,629) (297,988)  
Net cash provided by (used in) financing activities 440,882 (95,436) 284,826
Increase (decrease) in cash and cash equivalents 8,383,536 4,129,814 (5,602,884)
Cash and cash equivalents at beginning of year 9,807,957 5,678,143 11,281,027
Cash and cash equivalents at end of year 18,191,493 9,807,957 5,678,143
Supplemental cash flow information      
Cash paid during the year for income taxes 361,284 153,644 163,756
Non-cash financing activities      
Cashless exercise of stock options $ 297,883 $ 242,848 $ 51,226