Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

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Condensed Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities    
Net income $ 5,104,407 $ 3,310,934
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,068,297 870,692
Deferred taxes 578,090 1,682,164
Loss on disposal of assets 1,135 13,637
Stock-based compensation 843,658 844,992
Tax benefit from stock-based awards (1,786,000)
Changes in operating assets and liabilities:    
Accounts receivable, net (2,716,263) (2,358,856)
Inventories (923,530) (1,343,986)
Prepaid expenses and other (340,130) 52,496
Accounts payable and accrued expenses 3,312,992 1,268,980
Net cash provided by operating activities 5,142,656 4,341,053
Cash flows from investing activities    
Purchases of property, plant and equipment and intangible assets (982,245) (4,028,122)
Purchases of investments (5,508,075) (7,517,000)
Proceeds from maturities of investments 5,761,000 6,784,000
Net cash used in investing activities (729,320) (4,761,122)
Cash flows from financing activities    
Tax benefit from stock-based awards 1,786,000
Proceeds from issuance of common stock under employee stock purchase plan 254,426 211,459
Proceeds from issuance of common stock upon exercise of stock options 473,651 41,688
Tax withholding related to exercise of stock options (77,291) (14,373)
Repurchase of common stock (333,761) (849,157)
Net cash provided by (used in) financing activities 2,103,025 (610,383)
Increase (decrease) in cash and cash equivalents 6,516,361 (1,030,452)
Cash and cash equivalents, beginning of period 18,071,210 18,191,493
Cash and cash equivalents, end of period 24,587,571 17,161,041
Supplemental disclosures for cash flow information    
Cash paid during the year for income taxes 338,616 20,350
Non-cash financing activities    
Cashless exercise of stock options $ 541,016 $ 80,802