|
Note B - Commitments And Facilities
|
12 Months Ended | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 30, 2012
|
||||||||||||||||||||||||||
| Leases of Lessee Disclosure [Text Block] |
NOTE
B – COMMITMENTS AND
FACILITIES
Plymouth
Facility: The Company leases office and
manufacturing facilities in Plymouth, MN for its ongoing
operations. This operating lease expires November 30, 2013.
The Company also leases various pieces of office equipment.
For the years ended September 30, 2012 and 2011, total rent
expense was $406,000 and $384,000 respectively. At
September 30, 2012, the future minimum lease payments
required under operating lease agreements are as
follows:
Aberdeen
Facility: During the second quarter of
fiscal 2011, the Company received and accepted a purchase
offer for the facility. In June 2011, the Company
completed the sale of the facility and land in the amount
of $725,000. The final proceeds to the Company after
transaction costs were $660,000. We recorded a gain on
the sale of these assets of approximately $37,000 in the
third quarter of fiscal 2011.
|
|||||||||||||||||||||||||