Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Mar. 31, 2021 | Apr. 30, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000783412 | |
Entity Registrant Name | DAILY JOURNAL CORPORATION | |
Amendment Flag | false | |
Current Fiscal Year End Date | --09-30 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2021 | |
Document Transition Report | false | |
Entity File Number | 0-14665 | |
Entity Incorporation, State or Country Code | SC | |
Entity Tax Identification Number | 95-4133299 | |
Entity Address, Address Line One | 915 East First Street | |
Entity Address, City or Town | Los Angeles | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 90012 | |
City Area Code | 213 | |
Local Phone Number | 229-5300 | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | DJCO | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1,380,746 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) | Mar. 31, 2021 | Sep. 30, 2020 |
Current assets | ||
Cash and cash equivalents | $ 6,169,000 | $ 26,922,000 |
Restricted cash | 2,042,000 | 2,041,000 |
Marketable securities at fair value -- common stocks | 293,907,000 | 179,368,000 |
Accounts receivable, less allowance for doubtful accounts of $250,000 at March 31, 2021 and September 30, 2020 | 9,429,000 | 6,727,000 |
Inventories | 30,000 | 36,000 |
Prepaid expenses and other current assets | 484,000 | 613,000 |
Income tax receivable | 601,000 | |
Total current assets | 312,061,000 | 216,308,000 |
Property, plant and equipment, at cost | ||
Land, buildings and improvements | 16,559,000 | 16,572,000 |
Furniture, office equipment and computer software | 1,791,000 | 1,782,000 |
Machinery and equipment | 1,524,000 | 1,524,000 |
Property, Plant and Equipment, Gross, Ending Balance | 19,874,000 | 19,878,000 |
Less accumulated depreciation | (9,619,000) | (9,422,000) |
Property, Plant and Equipment, Net, Ending Balance | 10,255,000 | 10,456,000 |
Operating lease right-of-use assets | 205,000 | 140,000 |
Deferred income taxes - Federal | 8,124,000 | 11,137,000 |
Deferred income taxes - State | 534,000 | |
Assets, Total | 330,645,000 | 238,575,000 |
Current liabilities | ||
Accounts payable | 3,684,000 | 3,926,000 |
Accrued liabilities | 5,221,000 | 5,005,000 |
Income tax payable | 816,000 | 0 |
Note payable collateralized by real estate | 145,000 | 133,000 |
Total current liabilities | 24,849,000 | 27,990,000 |
Long term liabilities | ||
Investment margin account borrowings | 32,000,000 | 29,493,000 |
Note payable collateralized by real estate | 1,505,000 | 1,576,000 |
Deferred maintenance agreements | 224,000 | 450,000 |
Accrued liabilities | 2,298,000 | 1,455,000 |
Deferred income taxes - State | 732,000 | 0 |
Deferred income taxes | 55,550,000 | 35,870,000 |
Total long term liabilities | 92,309,000 | 68,844,000 |
Shareholders' equity | ||
Preferred stock, $.01 par value, 5,000,000 shares authorized and no shares issued | 0 | 0 |
Common stock, $.01 par value, 5,000,000 shares authorized; 1,805,053 shares issued, including 424,307 treasury shares, at March 31, 2021 and September 30, 2020 | 14,000 | 14,000 |
Additional paid-in capital | 1,755,000 | 1,755,000 |
Retained earnings | 211,718,000 | 139,972,000 |
Total shareholders' equity | 213,487,000 | 141,741,000 |
Liabilities and Equity, Total | 330,645,000 | 238,575,000 |
Subscription and Circulation [Member] | ||
Current liabilities | ||
Deferred revenue | 2,501,000 | 2,899,000 |
Professional Fees [Member] | ||
Current liabilities | ||
Deferred revenue | 4,884,000 | 4,868,000 |
License and Maintenance [Member] | ||
Current liabilities | ||
Deferred revenue | $ 7,598,000 | $ 11,159,000 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) | Mar. 31, 2021 | Sep. 30, 2020 |
Accounts receivable, allowance for doubtful accounts | $ 250,000 | $ 250,000 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Common stock, shares issued (in shares) | 1,805,053 | 1,805,053 |
Common stock, treasury shares (in shares) | 424,307 | 424,307 |
Consolidated Statements of Inco
Consolidated Statements of Income and Comprehensive Income (Loss) (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
Revenues | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 13,970,000 | $ 12,356,000 | $ 24,390,000 | $ 24,033,000 |
Costs and expenses | ||||
Salaries and employee benefits | 9,901,000 | 9,678,000 | 17,793,000 | 18,565,000 |
Outside services | 719,000 | 1,154,000 | 1,442,000 | 2,014,000 |
Postage and delivery expenses | 161,000 | 191,000 | 330,000 | 401,000 |
Newsprint and printing expenses | 153,000 | 193,000 | 307,000 | 371,000 |
Depreciation and amortization | 115,000 | 128,000 | 230,000 | 256,000 |
Equipment maintenance and software | 395,000 | 504,000 | 648,000 | 826,000 |
Credit card merchant discount fees | 485,000 | 388,000 | 935,000 | 770,000 |
Rent expenses | 90,000 | 170,000 | 162,000 | 342,000 |
Accounting and legal fees | 144,000 | 202,000 | 494,000 | 458,000 |
Other general and administrative expenses | 502,000 | 846,000 | 1,059,000 | 2,646,000 |
Total operating expenses | 12,665,000 | 13,454,000 | 23,400,000 | 26,649,000 |
Income (loss) from operations | 1,305,000 | (1,098,000) | 990,000 | (2,616,000) |
Other income (expense) | ||||
Dividends and interest income | 649,000 | 1,297,000 | 1,287,000 | 2,977,000 |
Realized gains on sales of marketable securities | 18,478,000 | 0 | 18,478,000 | 0 |
Net unrealized losses on marketable securities | (5,144,000) | (77,211,000) | 76,068,000 | (57,680,000) |
Interest expense on debt | (64,000) | (128,000) | ||
Income (loss) before income taxes | 15,211,000 | (77,186,000) | 96,661,000 | (57,696,000) |
Income tax (provisions) benefits | (2,735,000) | 20,860,000 | (24,915,000) | 15,580,000 |
Net income (loss) | $ 12,476,000 | $ (56,326,000) | $ 71,746,000 | $ (42,116,000) |
Weighted average number of common shares outstanding - basic and diluted (in shares) | 1,380,746 | 1,380,746 | 1,380,746 | 1,380,746 |
Basic and diluted net income (loss) per share (in dollars per share) | $ 9.04 | $ (40.79) | $ 51.96 | $ (30.50) |
Comprehensive income (loss) | $ 12,476,000 | $ (56,326,000) | $ 71,746,000 | $ (42,116,000) |
Other income | 0 | 3,000 | ||
Net unrealized gains on marketable securities | 76,068,000 | (57,680,000) | ||
Real Estate Bank Loan Secured by Logan Office [Member] | ||||
Other income (expense) | ||||
Interest expense on debt | (13,000) | (21,000) | (34,000) | (43,000) |
Margin Account [Member] | ||||
Other income (expense) | ||||
Interest expense on debt | (64,000) | (153,000) | (128,000) | (337,000) |
Advertising [Member] | ||||
Revenues | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,762,000 | 1,992,000 | 3,454,000 | 4,118,000 |
Subscription and Circulation [Member] | ||||
Revenues | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,129,000 | 1,286,000 | 2,332,000 | 2,598,000 |
Advertising Service Fees and Other [Member] | ||||
Revenues | ||||
Revenue from Contract with Customer, Including Assessed Tax | 568,000 | 654,000 | 1,202,000 | 1,348,000 |
License and Maintenance [Member] | ||||
Revenues | ||||
Revenue from Contract with Customer, Including Assessed Tax | 6,355,000 | 5,505,000 | 11,388,000 | 10,715,000 |
Consulting Fees [Member] | ||||
Revenues | ||||
Revenue from Contract with Customer, Including Assessed Tax | 2,305,000 | 1,229,000 | 2,549,000 | 1,918,000 |
Service, Other [Member] | ||||
Revenues | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 1,851,000 | $ 1,690,000 | $ 3,465,000 | $ 3,336,000 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Sep. 30, 2019 | 1,805,053 | (424,307) | |||
Balance at Sep. 30, 2019 | $ 18,000 | $ (4,000) | $ 1,755,000 | $ 135,931,000 | $ 137,700,000 |
Net income (loss) | 0 | 0 | 0 | 14,210,000 | 14,210,000 |
Net income (loss) | $ 0 | $ 0 | 0 | 14,210,000 | 14,210,000 |
Balance (in shares) at Dec. 31, 2019 | 1,805,053 | (424,307) | |||
Balance at Dec. 31, 2019 | $ 18,000 | $ (4,000) | 1,755,000 | 150,141,000 | 151,910,000 |
Balance (in shares) at Sep. 30, 2019 | 1,805,053 | (424,307) | |||
Balance at Sep. 30, 2019 | $ 18,000 | $ (4,000) | 1,755,000 | 135,931,000 | 137,700,000 |
Net income (loss) | (42,116,000) | ||||
Net income (loss) | (42,116,000) | ||||
Balance (in shares) at Mar. 31, 2020 | 1,805,053 | (424,307) | |||
Balance at Mar. 31, 2020 | $ 18,000 | $ (4,000) | 1,755,000 | 93,815,000 | 95,584,000 |
Balance (in shares) at Dec. 31, 2019 | 1,805,053 | (424,307) | |||
Balance at Dec. 31, 2019 | $ 18,000 | $ (4,000) | 1,755,000 | 150,141,000 | 151,910,000 |
Net income (loss) | 0 | 0 | 0 | (56,326,000) | (56,326,000) |
Net income (loss) | $ 0 | $ 0 | 0 | (56,326,000) | (56,326,000) |
Balance (in shares) at Mar. 31, 2020 | 1,805,053 | (424,307) | |||
Balance at Mar. 31, 2020 | $ 18,000 | $ (4,000) | 1,755,000 | 93,815,000 | 95,584,000 |
Balance (in shares) at Sep. 30, 2020 | 1,805,053 | (424,307) | |||
Balance at Sep. 30, 2020 | $ 18,000 | $ (4,000) | 1,755,000 | 139,972,000 | 141,741,000 |
Net income (loss) | 0 | 0 | 0 | 59,270,000 | 59,270,000 |
Net income (loss) | $ 0 | $ 0 | 0 | 59,270,000 | 59,270,000 |
Balance (in shares) at Dec. 31, 2020 | 1,805,053 | (424,307) | |||
Balance at Dec. 31, 2020 | $ 18,000 | $ (4,000) | 1,755,000 | 199,242,000 | 201,011,000 |
Balance (in shares) at Sep. 30, 2020 | 1,805,053 | (424,307) | |||
Balance at Sep. 30, 2020 | $ 18,000 | $ (4,000) | 1,755,000 | 139,972,000 | 141,741,000 |
Net income (loss) | 71,746,000 | ||||
Net income (loss) | 71,746,000 | ||||
Balance (in shares) at Mar. 31, 2021 | 1,805,053 | (424,307) | |||
Balance at Mar. 31, 2021 | $ 18,000 | $ (4,000) | 1,755,000 | 211,718,000 | 213,487,000 |
Balance (in shares) at Dec. 31, 2020 | 1,805,053 | (424,307) | |||
Balance at Dec. 31, 2020 | $ 18,000 | $ (4,000) | 1,755,000 | 199,242,000 | 201,011,000 |
Net income (loss) | 0 | 0 | 0 | 12,476,000 | 12,476,000 |
Net income (loss) | $ 0 | $ 0 | 0 | 12,476,000 | 12,476,000 |
Balance (in shares) at Mar. 31, 2021 | 1,805,053 | (424,307) | |||
Balance at Mar. 31, 2021 | $ 18,000 | $ (4,000) | $ 1,755,000 | $ 211,718,000 | $ 213,487,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash flows from operating activities | ||
Net income (loss) | $ 71,746,000 | $ (42,116,000) |
Adjustments to reconcile net income (loss) to net cash used in operations | ||
Depreciation and amortization | 230,000 | 256,000 |
Net unrealized (gains) losses on marketable securities | (76,068,000) | 57,680,000 |
Realized gains on sales of marketable securities | (18,478,000) | 0 |
Deferred income taxes | 23,227,000 | (15,265,000) |
(Increase) decrease in current assets | ||
Accounts receivable, net | (2,702,000) | 689,000 |
Inventories | 6,000 | 0 |
Prepaid expenses and other assets | 129,000 | (85,000) |
Income tax receivable | 601,000 | (317,000) |
Increase (decrease) in liabilities | ||
Accounts payable | (242,000) | (1,459,000) |
Accrued liabilities | 994,000 | (226,000) |
Income tax payable | 1,548,000 | 0 |
Net cash used in operating activities | (3,178,000) | (4,578,000) |
Cash flows from investing activities | ||
Proceeds from sales of marketable securities | 20,002,000 | 0 |
Purchases of marketable securities | (39,995,000) | 0 |
Purchases of property, plant and equipment | (29,000) | (168,000) |
Net cash used in investing activities | (20,022,000) | (168,000) |
Cash flows from financing activities | ||
Payment to margin loan principal | (14,493,000) | 0 |
Borrowing from margin loan account | 17,000,000 | 0 |
Payment of real estate loan principal | (59,000) | (62,000) |
Net cash provided from (used in) financing activities | 2,448,000 | (62,000) |
Decrease in cash and restricted cash and cash equivalents | (20,752,000) | (4,808,000) |
Cash and restricted cash and cash equivalents | ||
Beginning of period | 28,963,000 | 10,630,000 |
End of period | 8,211,000 | 5,822,000 |
Interest paid during period | 163,000 | 390,000 |
Net income taxes (refunded) paid | (441,000) | 1,000 |
Subscription and Circulation [Member] | ||
Increase (decrease) in liabilities | ||
Deferred revenue arrangements | (398,000) | (311,000) |
Professional Fees [Member] | ||
Increase (decrease) in liabilities | ||
Deferred revenue arrangements | 16,000 | (849,000) |
License and Maintenance [Member] | ||
Increase (decrease) in liabilities | ||
Deferred revenue arrangements | $ (3,787,000) | $ (2,575,000) |
Note 1 - The Corporation and Op
Note 1 - The Corporation and Operations | 6 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 Daily Journal Corporation (the “Company”) publishes newspapers and websites reporting California and Arizona news and produces several specialized information services. It also serves as a newspaper representative specializing in public notice advertising. This is sometimes referred to as the Company’s “Traditional Business”. Journal Technologies, Inc. (“Journal Technologies”), a wholly-owned subsidiary of the Company, supplies case management software systems and related products to courts, prosecutor and public defender offices, probation departments and other justice agencies, including administrative law organizations, city and county governments and bar associations. These organizations use the Journal Technologies family of products to help manage cases and information electronically, to interface with other critical justice partners and to extend electronic services to the public, including efiling and a website to pay traffic citations and fees online. These products are licensed to more than 500 42 Essentially all of the Company’s U.S. operations are based in California, Arizona and Utah. The Company also has a presence in Australia where Journal Technologies is working on three |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 6 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | Note 2 In the opinion of the Company, the accompanying interim unaudited consolidated financial statements contain all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of its financial position as of March 31, 2021, three six March 31, 2021 2020, six March 31, 2021 2020 six March 31, 2021 2020. six March 31, 2021 not The consolidated financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not 10 September 30, 2020. Certain reclassifications of previously reported amounts have been made to conform to the current year’s presentation. |
Note 3 - New Accounting Pronoun
Note 3 - New Accounting Pronouncement | 6 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | Note 3 No |
Note 4 - Right-of-use (ROU) Ass
Note 4 - Right-of-use (ROU) Asset | 6 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 4 At the beginning of fiscal 2020, 2016 02, Leases (Topic 842 no March 31, 2021, one |
Note 5 - Revenue Recognition
Note 5 - Revenue Recognition | 6 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 5 The Company recognizes revenues in accordance with the provisions of ASU No. 2014 09, Revenue from Contracts with Customers (ASC Topic 606 October 1, 2017, For the Traditional Business, proceeds from the sale of subscriptions for newspapers, court rule books and other publications and other services are recorded as deferred revenue and are included in earned revenue only when the services are provided, generally over the subscription term. Advertising revenues are recognized when advertisements are published and are net of agency commissions. Journal Technologies contracts may one third not third The adoption of ASC 606 no not Since the Company generally recognizes revenues when it can invoice the customer pursuant to the contract for the value of completed performance, as a practical expedient and because reliable estimates cannot be made, it has elected not not no not |
Note 6 - Basic and Diluted Net
Note 6 - Basic and Diluted Net Income Per Share | 6 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 6 The Company does not |
Note 7 - Investments in Marketa
Note 7 - Investments in Marketable Securities | 6 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 7 All investments are classified as “Current assets” because they are available for sale at any time. These “available-for-sale” marketable securities are stated at fair value. The Company uses quoted prices in active markets for identical assets (consistent with the Level 1 820, Fair Value Measurement March 31, 2021 September 30, 2020, three one The Company adopted ASU No. 2016 01, 825 10 2019. six March 31, 2021, three March 31, 2021, In January 2021, March 31, 2021, Investments in marketable securities as of March 31, 2021 September 30, 2020 Investment in Marketable Securities March 31, 2021 September 30, 2020 Aggregate fair value Amortized/ Adjusted cost basis Pretax unrealized gains Aggregate fair value Amortized/ Adjusted cost basis Pretax unrealized gains Marketable securities Common stocks $ 293,907,000 $ 80,246,000 $ 213,661,000 $ 179,368,000 $ 41,775,000 $ 137,593,000 |
Note 8 - Income Taxes
Note 8 - Income Taxes | 6 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 8 For the six March 31, 2021, 2021 six March 31, 2021. six March 31, 2021 For the six March 31, 2020, 2020 six March 31, 2020. six March 31, 2020. six March 31, 2020 The Company files consolidated federal income tax returns in the United States and with various state jurisdictions and is no 2017 2016 |
Note 9 - Debt and Commitments
Note 9 - Debt and Commitments | 6 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | Note 9 During fiscal 2013, two six March 31, 2021, March 31, 2021. March 31, 2021 not In November 2015, 1998 October 2020, 2030. no March 31, 2021. The Company also owns its facilities in Los Angeles and leases space for its other offices under operating leases which expire at various dates through fiscal 2023. |
Note 10 - Contingencies
Note 10 - Contingencies | 6 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 10 From time to time, the Company is subject to contingencies, including litigation, arising in the normal course of its business. While it is not not |
Note 11 - Operating Segments
Note 11 - Operating Segments | 6 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 11 The Company’s reportable segments are: (i) the Traditional Business and (ii) Journal Technologies. All inter-segment transactions were eliminated. Summarized financial information regarding the Company’s reportable segments is shown in the following table: Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Six months ended March 31, 2021 Revenues Advertising $ 3,454,000 $ - $ - $ 3,454,000 Circulation 2,332,000 - - 2,332,000 Advertising service fees and other 1,202,000 - - 1,202,000 Licensing and maintenance fees - 11,388,000 - 11,388,000 Consulting fees - 2,549,000 - 2,549,000 Other public service fees - 3,465,000 - 3,465,000 Operating expenses 7,336,000 16,064,000 - 23,400,000 Income (loss) from operations (348,000 ) 1,338,000 - 990,000 Dividends and interest income - - 1,287,000 1,287,000 Realized gains on sales of marketable securities - - 18,478,000 18,478,000 Net unrealized gains on marketable securities - - 76,068,000 76,068,000 Interest expenses on note payable collateralized by real estate (34,000 ) - - (34,000 ) Interest expenses on margin loans and others - - (128,000 ) (128,000 ) Pretax income (loss) (382,000 ) 1,338,000 95,705,000 96,661,000 Income tax (expense) benefit 160,000 (325,000 ) (24,750,000 ) (24,915,000 ) Net income (loss) (222,000 ) 1,013,000 70,955,000 71,746,000 Total assets 14,586,000 21,639,000 294,420,000 330,645,000 Capital expenditures 22,000 7,000 - 29,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Six months ended March 31, 2020 Revenues Advertising $ 4,118,000 $ - $ - $ 4,118,000 Circulation 2,598,000 - - 2,598,000 Advertising service fees and other 1,348,000 - - 1,348,000 Licensing and maintenance fees - 10,715,000 - 10,715,000 Consulting fees - 1,918,000 - 1,918,000 Other public service fees - 3,336,000 - 3,336,000 Operating expenses 7,620,000 19,029,000 - 26,649,000 Income (loss) from operations 444,000 (3,060,000 ) - (2,616,000 ) Dividends and interest income - - 2,977,000 2,977,000 Other income - - 3,000 3,000 Net unrealized losses on marketable securities - - (57,680,000 ) (57,680,000 ) Interest expenses on note payable collateralized by real estate (43,000 ) - - (43,000 ) Interest expenses on margin loans and others - - (337,000 ) (337,000 ) Pretax income (loss) 401,000 (3,060,000 ) (55,037,000 ) (57,696,000 ) Income tax (expense) benefit (110,000 ) 925,000 14,765,000 15,580,000 Net income (loss) 291,000 (2,135,000 ) (40,272,000 ) (42,116,000 ) Total assets 16,074,000 19,578,000 139,083,000 174,735,000 Capital expenditures 99,000 69,000 - 168,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Three months ended March 31, 2021 Revenues Advertising $ 1,762,000 $ - $ - $ 1,762,000 Circulation 1,129,000 - - 1,129,000 Advertising service fees and other 568,000 - - 568,000 Licensing and maintenance fees - 6,355,000 - 6,355,000 Consulting fees - 2,305,000 - 2,305,000 Other public service fees - 1,851,000 - 1,851,000 Operating expenses 4,355,000 8,310,000 - 12,665,000 Income (loss) from operations (896,000 ) 2,201,000 - 1,305,000 Dividends and interest income - - 649,000 649,000 Realized gains on sales of marketable securities - - 18,478,000 18,478,000 Net unrealized losses on marketable securities - - (5,144,000 ) (5,144,000 ) Interest expenses on note payable collateralized by real estate (13,000 ) - - (13,000 ) Interest expenses on margin loans and others - - (64,000 ) (64,000 ) Pretax income (loss) (909,000 ) 2,201,000 13,919,000 15,211,000 Income tax (expense) benefit 265,000 (730,000 ) (2,270,000 ) (2,735,000 ) Net income (loss) (644,000 ) 1,471,000 11,649,000 12,476,000 Total assets 14,586,000 21,639,000 294,420,000 330,645,000 Capital expenditures 22,000 7,000 - 29,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Three months ended March 31, 2020 Revenues Advertising $ 1,992,000 $ - $ - $ 1,992,000 Circulation 1,286,000 - - 1,286,000 Advertising service fees and other 654,000 - - 654,000 Licensing and maintenance fees - 5,505,000 - 5,505,000 Consulting fees - 1,229,000 - 1,229,000 Other public service fees - 1,690,000 - 1,690,000 Operating expenses 3,762,000 9,692,000 - 13,454,000 Income (loss) from operations 170,000 (1,268,000 ) - (1,098,000 ) Dividends and interest income - - 1,297,000 1,297,000 Net unrealized losses on marketable securities - - (77,211,000 ) (77,211,000 ) Interest expenses on note payable collateralized by real estate (21,000 ) - - (21,000 ) Interest expenses on margin loans and others - - (153,000 ) (153,000 ) Pretax income (loss) 149,000 (1,268,000 ) (76,067,000 ) (77,186,000 ) Income tax benefit (40,000 ) 415,000 20,485,000 20,860,000 Net income (loss) 109,000 (853,000 ) (55,582,000 ) (56,326,000 ) Total assets 16,074,000 19,578,000 139,083,000 174,735,000 Capital expenditures 64,000 7,000 - 71,000 During the six March 31, 2021, During the three March 31, 2021, Approximately 71% of the Company’s revenues during the six March 31, 2021 six March 31, 2021. |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 6 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 12 The Company has completed an evaluation of all subsequent events through the issuance date of these financial statements and concluded that no |
Note 7 - Investments in Marke_2
Note 7 - Investments in Marketable Securities (Tables) | 6 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | March 31, 2021 September 30, 2020 Aggregate fair value Amortized/ Adjusted cost basis Pretax unrealized gains Aggregate fair value Amortized/ Adjusted cost basis Pretax unrealized gains Marketable securities Common stocks $ 293,907,000 $ 80,246,000 $ 213,661,000 $ 179,368,000 $ 41,775,000 $ 137,593,000 |
Note 11 - Operating Segments (T
Note 11 - Operating Segments (Tables) | 6 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Six months ended March 31, 2021 Revenues Advertising $ 3,454,000 $ - $ - $ 3,454,000 Circulation 2,332,000 - - 2,332,000 Advertising service fees and other 1,202,000 - - 1,202,000 Licensing and maintenance fees - 11,388,000 - 11,388,000 Consulting fees - 2,549,000 - 2,549,000 Other public service fees - 3,465,000 - 3,465,000 Operating expenses 7,336,000 16,064,000 - 23,400,000 Income (loss) from operations (348,000 ) 1,338,000 - 990,000 Dividends and interest income - - 1,287,000 1,287,000 Realized gains on sales of marketable securities - - 18,478,000 18,478,000 Net unrealized gains on marketable securities - - 76,068,000 76,068,000 Interest expenses on note payable collateralized by real estate (34,000 ) - - (34,000 ) Interest expenses on margin loans and others - - (128,000 ) (128,000 ) Pretax income (loss) (382,000 ) 1,338,000 95,705,000 96,661,000 Income tax (expense) benefit 160,000 (325,000 ) (24,750,000 ) (24,915,000 ) Net income (loss) (222,000 ) 1,013,000 70,955,000 71,746,000 Total assets 14,586,000 21,639,000 294,420,000 330,645,000 Capital expenditures 22,000 7,000 - 29,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Six months ended March 31, 2020 Revenues Advertising $ 4,118,000 $ - $ - $ 4,118,000 Circulation 2,598,000 - - 2,598,000 Advertising service fees and other 1,348,000 - - 1,348,000 Licensing and maintenance fees - 10,715,000 - 10,715,000 Consulting fees - 1,918,000 - 1,918,000 Other public service fees - 3,336,000 - 3,336,000 Operating expenses 7,620,000 19,029,000 - 26,649,000 Income (loss) from operations 444,000 (3,060,000 ) - (2,616,000 ) Dividends and interest income - - 2,977,000 2,977,000 Other income - - 3,000 3,000 Net unrealized losses on marketable securities - - (57,680,000 ) (57,680,000 ) Interest expenses on note payable collateralized by real estate (43,000 ) - - (43,000 ) Interest expenses on margin loans and others - - (337,000 ) (337,000 ) Pretax income (loss) 401,000 (3,060,000 ) (55,037,000 ) (57,696,000 ) Income tax (expense) benefit (110,000 ) 925,000 14,765,000 15,580,000 Net income (loss) 291,000 (2,135,000 ) (40,272,000 ) (42,116,000 ) Total assets 16,074,000 19,578,000 139,083,000 174,735,000 Capital expenditures 99,000 69,000 - 168,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Three months ended March 31, 2021 Revenues Advertising $ 1,762,000 $ - $ - $ 1,762,000 Circulation 1,129,000 - - 1,129,000 Advertising service fees and other 568,000 - - 568,000 Licensing and maintenance fees - 6,355,000 - 6,355,000 Consulting fees - 2,305,000 - 2,305,000 Other public service fees - 1,851,000 - 1,851,000 Operating expenses 4,355,000 8,310,000 - 12,665,000 Income (loss) from operations (896,000 ) 2,201,000 - 1,305,000 Dividends and interest income - - 649,000 649,000 Realized gains on sales of marketable securities - - 18,478,000 18,478,000 Net unrealized losses on marketable securities - - (5,144,000 ) (5,144,000 ) Interest expenses on note payable collateralized by real estate (13,000 ) - - (13,000 ) Interest expenses on margin loans and others - - (64,000 ) (64,000 ) Pretax income (loss) (909,000 ) 2,201,000 13,919,000 15,211,000 Income tax (expense) benefit 265,000 (730,000 ) (2,270,000 ) (2,735,000 ) Net income (loss) (644,000 ) 1,471,000 11,649,000 12,476,000 Total assets 14,586,000 21,639,000 294,420,000 330,645,000 Capital expenditures 22,000 7,000 - 29,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Three months ended March 31, 2020 Revenues Advertising $ 1,992,000 $ - $ - $ 1,992,000 Circulation 1,286,000 - - 1,286,000 Advertising service fees and other 654,000 - - 654,000 Licensing and maintenance fees - 5,505,000 - 5,505,000 Consulting fees - 1,229,000 - 1,229,000 Other public service fees - 1,690,000 - 1,690,000 Operating expenses 3,762,000 9,692,000 - 13,454,000 Income (loss) from operations 170,000 (1,268,000 ) - (1,098,000 ) Dividends and interest income - - 1,297,000 1,297,000 Net unrealized losses on marketable securities - - (77,211,000 ) (77,211,000 ) Interest expenses on note payable collateralized by real estate (21,000 ) - - (21,000 ) Interest expenses on margin loans and others - - (153,000 ) (153,000 ) Pretax income (loss) 149,000 (1,268,000 ) (76,067,000 ) (77,186,000 ) Income tax benefit (40,000 ) 415,000 20,485,000 20,860,000 Net income (loss) 109,000 (853,000 ) (55,582,000 ) (56,326,000 ) Total assets 16,074,000 19,578,000 139,083,000 174,735,000 Capital expenditures 64,000 7,000 - 71,000 |
Note 4 - Right-of-use (ROU) A_2
Note 4 - Right-of-use (ROU) Asset (Details Textual) | Mar. 31, 2021USD ($) |
Office Lease Obligations Beyond One Year | $ 98,000 |
Accrued Liabilities, Current and Noncurrent [Member] | |
Operating Lease, Liability, Total | $ 205,000 |
Note 7 - Investments in Marke_3
Note 7 - Investments in Marketable Securities (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||
Jan. 31, 2021 | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | Sep. 30, 2019 | |
Marketable Securities, Accumulated Unrealized Gain (Loss) | $ 213,661,000 | $ 213,661,000 | $ 137,593,000 | |||
Marketable Securities, Unrealized Gain (Loss), Total | (5,144,000) | $ (77,211,000) | 76,068,000 | $ (57,680,000) | ||
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale, Total | $ 20,002,000 | 20,002,000 | 0 | |||
Marketable Securities, Realized Gain (Loss), Total | 18,478,000 | 18,478,000 | $ 0 | 18,478,000 | 0 | |
Payments to Acquire Marketable Securities, Total | $ 39,995,000 | $ 39,995,000 | $ 0 | |||
Newly Purchased Marketable Securities [Member] | ||||||
Marketable Securities, Unrealized Gain (Loss), Total | $ (2,512,000) |
Note 7 - Investments in Marke_4
Note 7 - Investments in Marketable Securities - Summary of Investments (Details) - Common Stock [Member] - USD ($) | Mar. 31, 2021 | Sep. 30, 2020 |
Aggregate fair value | $ 293,907,000 | $ 179,368,000 |
Amortized/adjusted cost basis | 80,246,000 | 41,775,000 |
Pretax net unrealized gains | $ 213,661,000 | $ 137,593,000 |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
Income Tax Expense (Benefit), Total | $ 2,735,000 | $ (20,860,000) | $ 24,915,000 | $ (15,580,000) |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total | $ 96,661,000 | $ (57,696,000) | ||
Effective Income Tax Rate Reconciliation before Realized and Unrealized Gains of Marketable Securities, Percent | 19.28% | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |||
Effective Income Tax Rate Reconciliation, Deduction, Dividends, Amount | $ 408,000 | |||
Effective Income Tax Rate Reconciliation, Unrealized Gains on Marketable Securities, Amount | 19,680,000 | |||
Effective Income Tax Rate Reconciliation, Realized Gains on Marketable Securities, Amount | 4,804,000 | |||
Effective Income Tax Rate Reconciliation, Tax Contingency, State and Local, Amount | $ 23,000 | |||
Effective Income Tax Rate Reconciliation, Percent, Total | 25.80% | 27.00% | ||
Income Tax Expense (Benefit) from CARES Act | $ (187,000) | |||
Income Tax Expense (Benefit) from Unrealized Losses on Investments | $ (15,425,000) | |||
Domestic Tax Authority [Member] | ||||
Open Tax Year | 2017 2018 2019 2020 2021 | |||
State and Local Jurisdiction [Member] | ||||
Open Tax Year | 2016 2017 2018 2019 2020 2021 |
Note 9 - Debt and Commitments (
Note 9 - Debt and Commitments (Details Textual) | Oct. 31, 2020USD ($) | Nov. 30, 2015USD ($)ft²a | Mar. 31, 2021USD ($) | Mar. 31, 2020USD ($) | Mar. 31, 2021USD ($) | Mar. 31, 2020USD ($) | Sep. 30, 2013USD ($) | Sep. 30, 2020USD ($) |
Investment Margin Account | $ 32,000,000 | $ 32,000,000 | $ 29,493,000 | |||||
Payments to Acquire Property, Plant, and Equipment, Total | 29,000 | $ 71,000 | 29,000 | $ 168,000 | ||||
Loans Payable to Bank, Total | 1,650,000 | 1,650,000 | ||||||
UTAH | Building [Member] | ||||||||
Area of Real Estate Property (Square Foot) | ft² | 30,700 | |||||||
UTAH | Land [Member] | ||||||||
Area of Land (Acre) | a | 3.6 | |||||||
Payments to Acquire Property, Plant, and Equipment, Total | $ 1,240,000 | |||||||
Margin Account [Member] | ||||||||
Proceeds from Issuance of Debt | 2,507,000 | $ 29,493,000 | ||||||
Investment Margin Account | $ 32,000,000 | $ 32,000,000 | ||||||
Margin Account [Member] | Fed Funds Rate [Member] | ||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | |||||||
Debt Instrument, Interest Rate, Effective Percentage | 0.75% | 0.75% | ||||||
Real Estate Bank Loan Secured by Logan Office [Member] | ||||||||
Loans Payable to Bank, Total | $ 2,260,000 | |||||||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 3.33% | 4.66% | ||||||
Debt Instrument, Periodic Payment, Total | $ 16,600 |
Note 11 - Operating Segments (D
Note 11 - Operating Segments (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 13,970,000 | $ 12,356,000 | $ 24,390,000 | $ 24,033,000 |
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Non-US [Member] | ||||
Concentration Risk, Percentage | 7.00% | |||
Traditional Business [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 3,459,000 | 3,932,000 | $ 6,988,000 | 8,064,000 |
Traditional Business [Member] | Transferred at Point in Time [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 2,330,000 | 2,646,000 | 4,656,000 | 5,466,000 |
Traditional Business [Member] | Transferred over Time [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,129,000 | 1,286,000 | 2,332,000 | 2,598,000 |
Journal Technologies [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 10,511,000 | 8,424,000 | $ 17,402,000 | $ 15,969,000 |
Journal Technologies [Member] | Revenue Benchmark [Member] | Product Concentration Risk [Member] | ||||
Concentration Risk, Percentage | 71.00% | 66.00% | ||
Journal Technologies [Member] | Transferred at Point in Time [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 4,848,000 | 3,177,000 | $ 6,717,000 | $ 5,631,000 |
Journal Technologies [Member] | Transferred over Time [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 5,663,000 | $ 5,247,000 | $ 10,685,000 | $ 10,338,000 |
Note 11 - Operating Segments -
Note 11 - Operating Segments - Summarized Financial Information for Reportable Segments (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||||
Jan. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2021 | Mar. 31, 2020 | Sep. 30, 2020 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 13,970,000 | $ 12,356,000 | $ 24,390,000 | $ 24,033,000 | ||||
Operating expenses | 12,665,000 | 13,454,000 | 23,400,000 | 26,649,000 | ||||
Income (loss) from operations | 1,305,000 | (1,098,000) | 990,000 | (2,616,000) | ||||
Dividends and interest income | 649,000 | 1,297,000 | 1,287,000 | 2,977,000 | ||||
Realized gains on sales of marketable securities | $ 18,478,000 | 18,478,000 | 0 | 18,478,000 | 0 | |||
Net unrealized losses on marketable securities | (5,144,000) | (77,211,000) | 76,068,000 | (57,680,000) | ||||
Interest expense on debt | (64,000) | (128,000) | ||||||
Pretax income (loss) | 15,211,000 | (77,186,000) | 96,661,000 | (57,696,000) | ||||
Income tax (provisions) benefits | (2,735,000) | 20,860,000 | (24,915,000) | 15,580,000 | ||||
Net income (loss) | 12,476,000 | $ 59,270,000 | (56,326,000) | $ 14,210,000 | 71,746,000 | (42,116,000) | ||
Total assets | 330,645,000 | 174,735,000 | 330,645,000 | 174,735,000 | $ 238,575,000 | |||
Capital expenditures | 29,000 | 71,000 | 29,000 | 168,000 | ||||
Other income | 0 | 3,000 | ||||||
Marketable Securities, Unrealized Gain (Loss), Total | (5,144,000) | (77,211,000) | 76,068,000 | (57,680,000) | ||||
Real Estate Bank Loan Secured by Logan Office [Member] | ||||||||
Interest expense on debt | (13,000) | (21,000) | (34,000) | (43,000) | ||||
Margin Account [Member] | ||||||||
Interest expense on debt | (64,000) | (153,000) | (128,000) | (337,000) | ||||
Advertising [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 1,762,000 | 1,992,000 | 3,454,000 | 4,118,000 | ||||
Subscription and Circulation [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 1,129,000 | 1,286,000 | 2,332,000 | 2,598,000 | ||||
Advertising Service Fees and Other [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 568,000 | 654,000 | 1,202,000 | 1,348,000 | ||||
License and Maintenance [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 6,355,000 | 5,505,000 | 11,388,000 | 10,715,000 | ||||
Consulting Fees [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 2,305,000 | 1,229,000 | 2,549,000 | 1,918,000 | ||||
Service, Other [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 1,851,000 | 1,690,000 | 3,465,000 | 3,336,000 | ||||
Traditional Business [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 3,459,000 | 3,932,000 | 6,988,000 | 8,064,000 | ||||
Journal Technologies [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 10,511,000 | 8,424,000 | 17,402,000 | 15,969,000 | ||||
Operating Segments [Member] | Traditional Business [Member] | ||||||||
Operating expenses | 4,355,000 | 3,762,000 | 7,336,000 | 7,620,000 | ||||
Income (loss) from operations | (896,000) | 170,000 | (348,000) | 444,000 | ||||
Dividends and interest income | 0 | 0 | 0 | 0 | ||||
Realized gains on sales of marketable securities | 0 | 0 | ||||||
Net unrealized losses on marketable securities | 0 | 0 | 0 | 0 | ||||
Interest expense on debt | 0 | 0 | ||||||
Pretax income (loss) | (909,000) | 149,000 | (382,000) | 401,000 | ||||
Income tax (provisions) benefits | 265,000 | (40,000) | 160,000 | (110,000) | ||||
Net income (loss) | (644,000) | 109,000 | (222,000) | 291,000 | ||||
Total assets | 14,586,000 | 16,074,000 | 14,586,000 | 16,074,000 | ||||
Capital expenditures | 22,000 | 64,000 | 22,000 | 99,000 | ||||
Other income | 0 | |||||||
Marketable Securities, Unrealized Gain (Loss), Total | 0 | 0 | 0 | 0 | ||||
Operating Segments [Member] | Traditional Business [Member] | Real Estate Bank Loan Secured by Logan Office [Member] | ||||||||
Interest expense on debt | (13,000) | (21,000) | (34,000) | (43,000) | ||||
Operating Segments [Member] | Traditional Business [Member] | Margin Account [Member] | ||||||||
Interest expense on debt | 0 | 0 | ||||||
Operating Segments [Member] | Traditional Business [Member] | Advertising [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 1,762,000 | 1,992,000 | 3,454,000 | 4,118,000 | ||||
Operating Segments [Member] | Traditional Business [Member] | Subscription and Circulation [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 1,129,000 | 1,286,000 | 2,332,000 | 2,598,000 | ||||
Operating Segments [Member] | Traditional Business [Member] | Advertising Service Fees and Other [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 568,000 | 654,000 | 1,202,000 | 1,348,000 | ||||
Operating Segments [Member] | Traditional Business [Member] | License and Maintenance [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 | ||||
Operating Segments [Member] | Traditional Business [Member] | Consulting Fees [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 | ||||
Operating Segments [Member] | Traditional Business [Member] | Service, Other [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 | ||||
Operating Segments [Member] | Journal Technologies [Member] | ||||||||
Operating expenses | 8,310,000 | 9,692,000 | 16,064,000 | 19,029,000 | ||||
Income (loss) from operations | 2,201,000 | (1,268,000) | 1,338,000 | (3,060,000) | ||||
Dividends and interest income | 0 | 0 | 0 | 0 | ||||
Realized gains on sales of marketable securities | 0 | 0 | ||||||
Net unrealized losses on marketable securities | 0 | 0 | 0 | 0 | ||||
Interest expense on debt | 0 | 0 | ||||||
Pretax income (loss) | 2,201,000 | (1,268,000) | 1,338,000 | (3,060,000) | ||||
Income tax (provisions) benefits | (730,000) | 415,000 | (325,000) | 925,000 | ||||
Net income (loss) | 1,471,000 | (853,000) | 1,013,000 | (2,135,000) | ||||
Total assets | 21,639,000 | 19,578,000 | 21,639,000 | 19,578,000 | ||||
Capital expenditures | 7,000 | 7,000 | 7,000 | 69,000 | ||||
Other income | 0 | |||||||
Marketable Securities, Unrealized Gain (Loss), Total | 0 | 0 | 0 | 0 | ||||
Operating Segments [Member] | Journal Technologies [Member] | Real Estate Bank Loan Secured by Logan Office [Member] | ||||||||
Interest expense on debt | 0 | 0 | 0 | 0 | ||||
Operating Segments [Member] | Journal Technologies [Member] | Margin Account [Member] | ||||||||
Interest expense on debt | 0 | 0 | ||||||
Operating Segments [Member] | Journal Technologies [Member] | Advertising [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 | ||||
Operating Segments [Member] | Journal Technologies [Member] | Subscription and Circulation [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 | ||||
Operating Segments [Member] | Journal Technologies [Member] | Advertising Service Fees and Other [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 | ||||
Operating Segments [Member] | Journal Technologies [Member] | License and Maintenance [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 6,355,000 | 5,505,000 | 11,388,000 | 10,715,000 | ||||
Operating Segments [Member] | Journal Technologies [Member] | Consulting Fees [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 2,305,000 | 1,229,000 | 2,549,000 | 1,918,000 | ||||
Operating Segments [Member] | Journal Technologies [Member] | Service, Other [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 1,851,000 | 1,690,000 | 3,465,000 | 3,336,000 | ||||
Corporate, Non-Segment [Member] | ||||||||
Operating expenses | 0 | 0 | 0 | 0 | ||||
Income (loss) from operations | 0 | 0 | 0 | 0 | ||||
Dividends and interest income | 649,000 | 1,297,000 | 1,287,000 | 2,977,000 | ||||
Realized gains on sales of marketable securities | 18,478,000 | 18,478,000 | ||||||
Net unrealized losses on marketable securities | (5,144,000) | (77,211,000) | 76,068,000 | (57,680,000) | ||||
Interest expense on debt | (64,000) | (128,000) | ||||||
Pretax income (loss) | 13,919,000 | (76,067,000) | 95,705,000 | (55,037,000) | ||||
Income tax (provisions) benefits | (2,270,000) | 20,485,000 | (24,750,000) | 14,765,000 | ||||
Net income (loss) | 11,649,000 | (55,582,000) | 70,955,000 | (40,272,000) | ||||
Total assets | 294,420,000 | 139,083,000 | 294,420,000 | 139,083,000 | ||||
Capital expenditures | 0 | 0 | 0 | 0 | ||||
Other income | 3,000 | |||||||
Marketable Securities, Unrealized Gain (Loss), Total | (5,144,000) | (77,211,000) | 76,068,000 | (57,680,000) | ||||
Corporate, Non-Segment [Member] | Real Estate Bank Loan Secured by Logan Office [Member] | ||||||||
Interest expense on debt | 0 | 0 | 0 | 0 | ||||
Corporate, Non-Segment [Member] | Margin Account [Member] | ||||||||
Interest expense on debt | (153,000) | (337,000) | ||||||
Corporate, Non-Segment [Member] | Advertising [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 | ||||
Corporate, Non-Segment [Member] | Subscription and Circulation [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 | ||||
Corporate, Non-Segment [Member] | Advertising Service Fees and Other [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 | ||||
Corporate, Non-Segment [Member] | License and Maintenance [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 | ||||
Corporate, Non-Segment [Member] | Consulting Fees [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 | ||||
Corporate, Non-Segment [Member] | Service, Other [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 0 | $ 0 | $ 0 | $ 0 |