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, 2015
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:      
Net income $ 4,682,008 $ 5,432,851 $ 4,733,844
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 1,216,083 699,869 476,400
Deferred income taxes 2,342,045 3,019,626 2,564,045
Loss on disposal of assets 23,196 12,809 15,388
Stock-based compensation expense 1,074,727 794,865 753,727
Changes in operating assets and liabilities:      
Accounts receivable, net (983,044) 2,809,687 (4,814,907)
Inventories (1,792,512) 236,422 (2,655,150)
Other current assets 121,381 (243,339) (15,157)
Accounts payable and accrued expenses 164,336 (1,234,039) 3,280,866
Net cash provided by operating activities 6,848,220 11,528,751 4,339,056
Cash flows from investing activities:      
Purchases of property and equipment (4,518,782) (1,418,461) (1,018,453)
Purchase of investments (10,374,000) (8,899,000) (8,683,000)
Proceeds from sale of property and equipment 79,936 40,908 6,500
Patent additions (24,418) (36,544) (18,853)
Sale of investments 9,093,000 6,727,000 9,600,000
Net cash used in investing activities (5,744,264) $ (3,586,097) $ (113,806)
Cash flows from financing activities:      
Repurchase of common stock (849,157)
Proceeds from issuance of common stock under employee stock purchase plan 211,459 $ 185,584 $ 135,981
Proceeds from issuance of common stock 43,106 646,453 64,066
Excess tax benefit from exercise of stock options 9,660 8,474 2,505
Tax withholding related to vesting of restricted stock grants and exercise of stock options (639,307) (399,629) (297,988)
Net cash (used in) provided by financing activities (1,224,239) 440,882 (95,436)
(Decrease) increase in cash and cash equivalents (120,283) 8,383,536 4,129,814
Cash and cash equivalents at beginning of year 18,191,493 9,807,957 5,678,143
Cash and cash equivalents at end of year 18,071,210 18,191,493 9,807,957
Supplemental cash flow information      
Cash paid during the year for income taxes 50,850 361,284 153,644
Non-cash financing activities      
Cashless exercise of stock options $ 207,738 $ 297,883 $ 242,848