Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Dec. 31, 2013 | Jan. 28, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Dec-13 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Document Fiscal Year Focus | '2014 | ' |
Entity Registrant Name | 'LANDAUER INC | ' |
Trading Symbol | 'ldr | ' |
Entity Central Index Key | '0000825410 | ' |
Current Fiscal Year End Date | '--09-30 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 9,537,544 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and cash equivalents | $13,272 | $11,184 |
Receivables, net of allowances of $570 and $600 respectively | 34,178 | 38,419 |
Inventories | 8,301 | 9,539 |
Prepaid income taxes | 2,671 | 3,132 |
Prepaid expenses and other current assets | 5,220 | 4,019 |
Current assets | 63,642 | 66,293 |
Property, plant and equipment, at cost | 104,316 | 107,446 |
Accumulated depreciation and amortization | -53,407 | -55,514 |
Net property, plant and equipment | 50,909 | 51,932 |
Equity in joint ventures | 22,600 | 23,942 |
Goodwill | 86,529 | 84,436 |
Intangible assets, net of accumulated amortization of $14,790 and $13,605, respectively | 37,022 | 37,161 |
Dosimetry devices, net of accumulated depreciation of $9,915 and $9,472, respectively | 5,739 | 5,798 |
Other assets | 7,704 | 7,271 |
Assets | 274,145 | 276,833 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' |
Accounts payable | 6,036 | 6,310 |
Dividends payable | 5,433 | 5,419 |
Deferred contract revenue | 13,572 | 13,181 |
Accrued compensation and related costs | 6,160 | 8,207 |
Other accrued expenses | 6,217 | 7,531 |
Current liabilities | 37,418 | 40,648 |
Non-current liabilities: | ' | ' |
Long-term debt | 143,785 | 142,785 |
Pension and postretirement obligations | 13,308 | 13,047 |
Deferred income taxes | 10,324 | 9,817 |
Other non-current liabilities | 1,890 | 915 |
Non-current liabilities | 169,307 | 166,564 |
Stockholders’ equity: | ' | ' |
Preferred stock, $.10 par value per share, authorized 1,000,000 shares; none issued | ' | ' |
Common stock, $.10 par value per share, authorized 20,000,000 shares; 9,615,711 and 9,575,926 issued and outstanding at December 31, 2013 and September 30, 2013 respectively | 962 | 958 |
Additional paid in capital | 39,653 | 39,465 |
Accumulated other comprehensive loss | -4,547 | -4,456 |
Retained earnings | 29,582 | 32,012 |
Landauer, Inc. stockholders' equity | 65,650 | 67,979 |
Noncontrolling interest | 1,770 | 1,642 |
Stockholders' equity | 67,420 | 69,621 |
Liabilities and Stockholders’ Equity | $274,145 | $276,833 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets [Abstract] | ' | ' |
Receivables, allowances | $570 | $600 |
Intangible assets, accumulated amortization | 14,790 | 13,605 |
Dosimetry devices, accumulated depreciation | $9,915 | $9,472 |
Preferred stock, par value | $0.10 | $0.10 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $0.10 | $0.10 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 9,615,711 | 9,575,926 |
Common stock, shares outstanding | 9,615,711 | 9,575,926 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Consolidated Statements Of Operations [Abstract] | ' | ' |
Service revenues | $31,894 | $31,469 |
Product revenues | 5,811 | 5,212 |
Net revenues | 37,705 | 36,681 |
Costs and expenses: | ' | ' |
Service costs | 15,049 | 14,308 |
Product costs | 3,158 | 2,255 |
Total cost of sales | 18,207 | 16,563 |
Selling, general, and administrative | 14,362 | 13,391 |
Acquisition and reorganization costs | 111 | 0 |
Costs and expenses | 32,680 | 29,954 |
Operating income | 5,025 | 6,727 |
Equity in income of joint ventures | 573 | 1,528 |
Interest expense, net | -892 | -1,033 |
Other income, net | 37 | 95 |
Income before taxes | 4,743 | 7,317 |
Income taxes | 1,496 | 2,274 |
Net income | 3,247 | 5,043 |
Less: Net income attributed to noncontrolling interest | 196 | 166 |
Net (loss) income attributed to Landauer, Inc. | $3,051 | $4,877 |
Net (loss) income per share attributable to Landauer, Inc. shareholders: | ' | ' |
Basic | $0.32 | $0.52 |
Weighted average basic shares outstanding | 9,422 | 9,336 |
Diluted | $0.32 | $0.52 |
Weighted average diluted shares outstanding | 9,467 | 9,385 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (Loss) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Net income | $3,247 | $5,043 |
Other comprehensive income: | ' | ' |
Defined benefit pension and postretirement plans activity, net of tax | 165 | 108 |
Foreign currency translation adjustment | -324 | -622 |
Comprehensive income | 3,088 | 4,529 |
Landauer, Inc. [Member] | ' | ' |
Net income | 3,051 | 4,877 |
Other comprehensive income: | ' | ' |
Defined benefit pension and postretirement plans activity, net of tax | 165 | 108 |
Foreign currency translation adjustment | -256 | -624 |
Comprehensive income | 2,960 | 4,361 |
Non-Controlling Interest [Member] | ' | ' |
Net income | 196 | 166 |
Other comprehensive income: | ' | ' |
Foreign currency translation adjustment | -68 | 2 |
Comprehensive income | $128 | $168 |
Consolidated_Statement_Of_Stoc
Consolidated Statement Of Stockholders' Equity (USD $) | Common Stock [Member] | Additional Paid In Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Retained Earnings [Member] | Non-Controlling Interest [Member] | Total |
In Thousands, except Share data | ||||||
Balance at Sep. 30, 2013 | $958 | $39,465 | ($4,456) | $32,012 | $1,642 | $69,621 |
Balance, shares at Sep. 30, 2013 | 9,575,926 | ' | ' | ' | ' | 9,575,926 |
Stock-based compensation arrangements | 4 | 188 | ' | ' | ' | 192 |
Stock-based compensation arrangements, shares | 39,785 | ' | ' | ' | ' | ' |
Dividends | ' | ' | ' | -5,481 | ' | -5,481 |
Net income | ' | ' | ' | 3,051 | 196 | 3,247 |
Foreign currency translation adjustment | ' | ' | -256 | ' | -68 | -324 |
Defined benefit pension and postretirement plans activity, net of tax | ' | ' | 165 | ' | ' | 165 |
Balance at Dec. 31, 2013 | $962 | $39,653 | ($4,547) | $29,582 | $1,770 | $67,420 |
Balance, shares at Dec. 31, 2013 | 9,615,711 | ' | ' | ' | ' | 9,615,711 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities: | ' | ' |
Net income | $3,247 | $5,043 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 3,894 | 3,450 |
Equity in income of joint ventures | -573 | -1,528 |
Dividends from joint ventures | 1,340 | 1,892 |
Stock-based compensation and related net tax benefits | 282 | 625 |
Current and long-term deferred taxes, net | 292 | 7 |
Changes in operating assets and liabilities: | ' | ' |
Decrease (increase) in accounts receivable, net | 4,396 | -1,114 |
Decrease in prepaid taxes | 466 | 1,449 |
Increase in other operating assets, net | -88 | -1,953 |
Decrease in accounts payable and other accrued liabilities | -3,502 | -5,775 |
Increase in other operating liabilities, net | 200 | 244 |
Net cash provided by operating activities | 9,954 | 2,340 |
Cash flows used by investing activities: | ' | ' |
Acquisition of property, plant and equipment | -1,071 | -1,902 |
Acquisition of joint ventures and businesses, net of cash acquired | -1,800 | ' |
Other investing activities, net | -719 | -453 |
Net Cash used by investing activities | -3,590 | -2,355 |
Cash flows provided (used) by financing activities: | ' | ' |
Net borrowings on revolving credit facility | -21 | ' |
Long-term borrowings - loan | 14,000 | 4,300 |
Long-term borrowings - repayment | -13,000 | ' |
Dividends paid to stockholders | -5,274 | -5,229 |
Other financing activities, net | 49 | -248 |
Net cash used by financing activities | -4,246 | -1,177 |
Effects of foreign currency translation | -30 | 56 |
Net increase (decrease) in cash and cash equivalents | 2,088 | -1,136 |
Opening balance - cash and cash equivalents | 11,184 | 17,633 |
Ending balance - cash and cash equivalents | $13,272 | $16,497 |
Basis_Of_Presentation_And_Cons
Basis Of Presentation And Consolidation | 3 Months Ended |
Dec. 31, 2013 | |
Basis Of Presentation And Consolidation [Abstract] | ' |
Basis Of Presentation And Consolidation | ' |
(1)Basis of Presentation and Consolidation | |
As used herein, the “Company” or “Landauer” refers to Landauer, Inc. and its subsidiaries. | |
These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2013 and other financial information filed with the Securities and Exchange Commission (the “SEC”). | |
The accounting policies followed by the Company are set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2013. There have been no changes to the accounting policies for the three month period ended December 31, 2013. | |
The results of operations for the three month period ended December 31, 2013 are not necessarily indicative of the results to be expected for the full fiscal year. The September 30, 2013 balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. | |
In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments necessary for a fair statement of such financial statements. Certain reclassifications have been made in the financial statements for comparative purposes. These reclassifications have no effect on the results of operations or financial position of the Company. | |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 3 Months Ended |
Dec. 31, 2013 | |
Recent Accounting Pronouncements [Abstract] | ' |
Recent Accounting Pronouncements | ' |
(2)Recent Accounting Pronouncements | |
In February 2013, the FASB issued new guidance on the presentation of comprehensive income. This guidance requires reclassification adjustments from other comprehensive income to be presented either in the financial statements or in the notes to the financial statements. The standard would not change the current requirements for reporting net income or other comprehensive income in financial statements. However, the guidance would require an entity to provide enhanced disclosures to present separately by component reclassifications out of accumulated other comprehensive income. This guidance was adopted by the Company in the first quarter of fiscal 2014. The adoption did not have a material impact on its consolidated financial statements. | |
In March 2013, the FASB issued an accounting update that clarifies the applicable guidance for the release of the cumulative translation adjustment when an entity ceases to have a controlling financial interest in a subsidiary or a group of assets that is a business within a foreign entity. The guidance outlines the events when cumulative translation adjustments should be released into net income and is intended by FASB to eliminate some disparity in current accounting practice. This guidance was adopted by the Company in the first quarter of fiscal 2014. The adoption did not have a material impact on its consolidated financial statements. | |
In July 2013, the FASB issued new guidance to reduce the diversity in presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss or a tax credit carryforward exists. This requires an unrecognized tax benefit to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, with certain exceptions listed in the guidance. This guidance is effective for the Company in the first quarter of fiscal 2015. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. | |
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Fair Value Measurements [Abstract] | ' | ||||||||
Fair Value Measurements | ' | ||||||||
(3)Fair Value Measurements | |||||||||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in a principal or most advantageous market. Fair value is a market-based measurement that is determined based on inputs, which refer broadly to assumptions that market participants use in pricing assets or liabilities. A fair value hierarchy with three tiers has been established to prioritize the inputs to valuation techniques used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. Level 1 inputs include quoted prices in active markets for identical assets and liabilities. Level 2 inputs consist of observable inputs other than quoted prices in active markets or indirectly observable through corroboration with observable market data. Level 3 inputs are not observable in the market and include management’s own judgments about the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances. | |||||||||
As of December 31, 2013 and September 30, 2013, the Company’s financial assets measured and recorded at fair value on a recurring basis were comprised of investments in trading securities, which are reported in other long-term assets. The investments are held in a Rabbi trust for benefits under the Company’s deferred compensation plan. Under the plan, participants designate investment options to serve as the basis for measurement of the notional value of their accounts. The investments include a money market fund and mutual funds that are publicly traded. The fair values of the shares or underlying securities of these funds are based on quoted market prices and, therefore, are categorized as Level 1 in the fair value hierarchy. | |||||||||
Financial assets measured at fair value on a recurring basis are summarized below: | |||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs | |||||||
(Level 3) | |||||||||
Asset Category | |||||||||
Cash equivalents | $ | 118 | $ | - | $ | - | |||
Mutual funds | 3,473 | - | - | ||||||
Total financial assets at fair value | $ | 3,591 | $ | - | $ | - | |||
Fair Value Measurements at September 30, 2013 Using | |||||||||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs | |||||||
(Level 3) | |||||||||
Asset Category | |||||||||
Cash equivalents | $ | 55 | $ | - | $ | - | |||
Mutual funds | 2,922 | - | - | ||||||
Total financial assets at fair value | $ | 2,977 | $ | - | $ | - | |||
As of December 31, 2013, the carrying amount of the Company’s long-term debt, which is categorized as Level 1 in the fair value hierarchy, approximated fair value as the stated interest rates were variable in relation to prevailing market rates. | |||||||||
Income_Per_Common_Share
Income Per Common Share | 3 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Income Per Common Share [Abstract] | ' | ||||||
Income Per Common Share | ' | ||||||
(4)Income per Common Share | |||||||
Basic net income per share was computed by dividing net income available to common stockholders for the period by the weighted average number of shares of common stock outstanding during the period. Diluted net income per share was computed by dividing net income available to common stockholders for the period by the weighted average number of shares of common stock that would have been outstanding assuming dilution from stock-based compensation awards during the period. | |||||||
Three Months Ended | |||||||
December 31, | |||||||
(Dollars in Thousands, Except per Share) | 2013 | 2012 | |||||
Basic Net Income per Share: | |||||||
Net income attributed to Landauer, Inc. | $ | 3,051 | $ | 4,877 | |||
Less: Income allocated to unvested restricted stock | 46 | 31 | |||||
Net income available to common stockholders | $ | 3,005 | $ | 4,846 | |||
Basic weighted average shares outstanding | 9,422 | 9,336 | |||||
Net income per share - Basic | $ | 0.32 | $ | 0.52 | |||
Diluted Net Income per Share: | |||||||
Net income attributed to Landauer, Inc. | $ | 3,051 | $ | 4,877 | |||
Less: Income allocated to unvested restricted stock | 46 | 31 | |||||
Net income available to common stockholder | $ | 3,005 | $ | 4,846 | |||
Basic weighted average shares outstanding | 9,422 | 9,336 | |||||
Effect of dilutive securities | 45 | 49 | |||||
Diluted weighted averages shares outstanding | 9,467 | 9,385 | |||||
Net income per share - Diluted | $ | 0.32 | $ | 0.52 | |||
On December 3, 2013, the Company declared a regular quarterly cash dividend in the amount of $0.55 per share for the fourth quarter of fiscal 2013. The dividends were paid on January 6, 2014 to shareholders of record as of December 23, 2013. | |||||||
Employee_Benefit_Plans
Employee Benefit Plans | 3 Months Ended | |||||
Dec. 31, 2013 | ||||||
Employee Benefit Plans [Abstract] | ' | |||||
Employee Benefit Plans | ' | |||||
(5)Employee Benefit Plans | ||||||
The components of net periodic benefit cost for pension and other benefits were as follows: | ||||||
Pension Benefits | Three Months Ended December 31, | |||||
2013 | 2012 | |||||
Interest cost | $ | 375 | $ | 340 | ||
Expected return on plan assets | -377 | -365 | ||||
Amortization of net loss | 48 | 108 | ||||
Net periodic benefit cost | $ | 46 | $ | 83 | ||
Other Benefits | Three Months Ended December 31, | |||||
2013 | 2012 | |||||
Service cost | $ | 15 | $ | 17 | ||
Interest cost | 13 | 12 | ||||
Amortization of net (gain) loss | -3 | - | ||||
Net periodic benefit cost | $ | 25 | $ | 29 | ||
The Company, under the IRS minimum funding standards, has no required contributions to make to its defined benefit pension plan during fiscal 2014. | ||||||
The Company maintains 401(k) Retirement Savings Plans for certain employees, which may provide for employer matching contributions, and a supplemental defined contribution plan for certain executives, which provides for employer contributions at the discretion of the Company. Amounts expensed for Company contributions under these plans during the first three months of fiscal 2014 and 2013 were $458 and $371, respectively. | ||||||
Goodwill_And_Other_Intangibles
Goodwill And Other Intangibles | 3 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Goodwill And Other Intangible [Abstract] | ' | ||||||||||||
Goodwill And Other Intangible | ' | ||||||||||||
(6)Goodwill and Other Intangibles | |||||||||||||
Radiation Measurement | Medical | Medical | Total | ||||||||||
Physics | Products | ||||||||||||
Balance as of September 30, 2013 | $ | 20,456 | $ | 22,611 | $ | 41,369 | $ | 84,436 | |||||
Increase related to acquisitions, net | - | - | 2,019 | 2,019 | |||||||||
of subsequent adjustments for | |||||||||||||
deferred taxes | |||||||||||||
Effects of foreign currency | 74 | 74 | |||||||||||
Accumulated goodwill impairment charges | - | ||||||||||||
Goodwill, net as of December 31, 2013 | $ | 20,530 | $ | 22,611 | $ | 43,388 | $ | 86,529 | |||||
On December 23rd, 2013, the Company acquired a small German distributor on behalf of the Medical Products segment. The preliminary purchase price allocation indicates an increase in customer lists of $772 and an increase in goodwill of $2,019. | |||||||||||||
Intangible assets for the years ended December 31, were as follows: | |||||||||||||
31-Dec-13 | 30-Sep-13 | ||||||||||||
Gross | Accumulated | Gross | Accumulated | ||||||||||
Carrying | Amortization | Carrying | Amortization | ||||||||||
Amount | Amount | ||||||||||||
Customer lists | $ | 44,865 | $ | 12,676 | $ | 43,954 | $ | 11,639 | |||||
Trademarks and tradenames | 2,156 | 451 | 2,154 | 400 | |||||||||
Licenses and patents | 4,214 | 1,106 | 4,080 | 1,009 | |||||||||
Other intangibles | 577 | 557 | 577 | 557 | |||||||||
Intangible assets | $ | 51,812 | $ | 14,790 | $ | 50,765 | $ | 13,605 | |||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 3 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ||||||||
Accumulated Other Comprehensive Income (Loss) | ' | ||||||||
(7)Accumulated Other Comprehensive Income (Loss) | |||||||||
Accumulated elements of other comprehensive income (loss) (“AOCI”), net of tax, are included in the stockholders’ equity section of the condensed consolidated balance sheets. Changes in each component of AOCI are as follows: | |||||||||
Foreign Currency Translation Adjustments | Pension and Postretirement Plans, net of tax | Total | |||||||
Balance at September 30, 2013 | $ | -178 | $ | -4,278 | $ | -4,456 | |||
Other comprehensive income before reclassifications | -256 | - | -256 | ||||||
Amounts reclassified from accumulated other comprehensive income | - | 165 | 165 | ||||||
Net current period other comprehensive income | -256 | 165 | -91 | ||||||
Balance at December 31, 2013 | $ | -434 | $ | -4,113 | $ | -4,547 | |||
Reclassifications out of accumulated other comprehensive income (loss) included in the computation of net periodic benefit costs (refer to Note 5 of the Notes to Consolidated Financial Statements for additional details regarding employee benefit plans) was as follows: | |||||||||
Pension and Postretirement Plans | Three Months Ended December 31, | ||||||||
2013 | 2012 | ||||||||
Amortization of net loss | $ | 45 | $ | 108 | |||||
Provision for income taxes | 120 | - | |||||||
Total net of tax | $ | 165 | $ | 108 | |||||
Segment_Information
Segment Information | 3 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Segment Information [Abstract] | ' | ||||||
Segment Information | ' | ||||||
(8)Segment Information | |||||||
During the first fiscal quarter of 2014, the Company changed the presentation of its reporting segments to separately disclose certain ‘corporate expenses’ that had previously been reported within the Radiation Measurement segment. As a result, the current segment disclosures will reflect three reporting segments: Radiation Measurement, Medical Physics, Medical Products and one functional group: Corporate. The following tables summarize financial information for each reportable segment: | |||||||
Three Months Ended December 31, | |||||||
2013 | 2012 | ||||||
Revenues by segment: | |||||||
Radiation Measurement | $ | 27,741 | 26,403 | ||||
Medical Physics | 7,739 | 7,589 | |||||
Medical Products | 2,225 | 2,689 | |||||
Consolidated revenues | $ | 37,705 | 36,681 | ||||
Three Months Ended December 31, | |||||||
2013 | 2012 | ||||||
Operating income (loss) by segment: | |||||||
Radiation Measurement | $ | 8,579 | 9,432 | ||||
Medical Physics | 433 | 792 | |||||
Medical Products | -438 | 670 | |||||
Corporate | -3,549 | -4,167 | |||||
Consolidated operating income | $ | 5,025 | 6,727 | ||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Fair Value Measurements [Abstract] | ' | ||||||||
Financial Assets Measured At Fair Value On A Recurring Basis | ' | ||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs | |||||||
(Level 3) | |||||||||
Asset Category | |||||||||
Cash equivalents | $ | 118 | $ | - | $ | - | |||
Mutual funds | 3,473 | - | - | ||||||
Total financial assets at fair value | $ | 3,591 | $ | - | $ | - | |||
Fair Value Measurements at September 30, 2013 Using | |||||||||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs | |||||||
(Level 3) | |||||||||
Asset Category | |||||||||
Cash equivalents | $ | 55 | $ | - | $ | - | |||
Mutual funds | 2,922 | - | - | ||||||
Total financial assets at fair value | $ | 2,977 | $ | - | $ | - | |||
Income_Per_Common_Share_Tables
Income Per Common Share (Tables) | 3 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Income Per Common Share [Abstract] | ' | ||||||
Computation Of Net Income (Loss) Per Share | ' | ||||||
Three Months Ended | |||||||
December 31, | |||||||
(Dollars in Thousands, Except per Share) | 2013 | 2012 | |||||
Basic Net Income per Share: | |||||||
Net income attributed to Landauer, Inc. | $ | 3,051 | $ | 4,877 | |||
Less: Income allocated to unvested restricted stock | 46 | 31 | |||||
Net income available to common stockholders | $ | 3,005 | $ | 4,846 | |||
Basic weighted average shares outstanding | 9,422 | 9,336 | |||||
Net income per share - Basic | $ | 0.32 | $ | 0.52 | |||
Diluted Net Income per Share: | |||||||
Net income attributed to Landauer, Inc. | $ | 3,051 | $ | 4,877 | |||
Less: Income allocated to unvested restricted stock | 46 | 31 | |||||
Net income available to common stockholder | $ | 3,005 | $ | 4,846 | |||
Basic weighted average shares outstanding | 9,422 | 9,336 | |||||
Effect of dilutive securities | 45 | 49 | |||||
Diluted weighted averages shares outstanding | 9,467 | 9,385 | |||||
Net income per share - Diluted | $ | 0.32 | $ | 0.52 | |||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 3 Months Ended | |||||
Dec. 31, 2013 | ||||||
Employee Benefit Plans [Abstract] | ' | |||||
Schedule Of Net Periodic Benefit Costs | ' | |||||
Pension Benefits | Three Months Ended December 31, | |||||
2013 | 2012 | |||||
Interest cost | $ | 375 | $ | 340 | ||
Expected return on plan assets | -377 | -365 | ||||
Amortization of net loss | 48 | 108 | ||||
Net periodic benefit cost | $ | 46 | $ | 83 | ||
Other Benefits | Three Months Ended December 31, | |||||
2013 | 2012 | |||||
Service cost | $ | 15 | $ | 17 | ||
Interest cost | 13 | 12 | ||||
Amortization of net (gain) loss | -3 | - | ||||
Net periodic benefit cost | $ | 25 | $ | 29 | ||
Goodwill_And_Other_Intangible_
Goodwill And Other Intangible (Tables) | 3 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Goodwill And Other Intangible [Abstract] | ' | ||||||||||||
Changes In The Carrying Amount Of Goodwill, By Reportable Segment | ' | ||||||||||||
Radiation Measurement | Medical | Medical | Total | ||||||||||
Physics | Products | ||||||||||||
Balance as of September 30, 2013 | $ | 20,456 | $ | 22,611 | $ | 41,369 | $ | 84,436 | |||||
Increase related to acquisitions, net | - | - | 2,019 | 2,019 | |||||||||
of subsequent adjustments for | |||||||||||||
deferred taxes | |||||||||||||
Effects of foreign currency | 74 | 74 | |||||||||||
Accumulated goodwill impairment charges | - | ||||||||||||
Goodwill, net as of December 31, 2013 | $ | 20,530 | $ | 22,611 | $ | 43,388 | $ | 86,529 | |||||
Other Intangible Assets | ' | ||||||||||||
31-Dec-13 | 30-Sep-13 | ||||||||||||
Gross | Accumulated | Gross | Accumulated | ||||||||||
Carrying | Amortization | Carrying | Amortization | ||||||||||
Amount | Amount | ||||||||||||
Customer lists | $ | 44,865 | $ | 12,676 | $ | 43,954 | $ | 11,639 | |||||
Trademarks and tradenames | 2,156 | 451 | 2,154 | 400 | |||||||||
Licenses and patents | 4,214 | 1,106 | 4,080 | 1,009 | |||||||||
Other intangibles | 577 | 557 | 577 | 557 | |||||||||
Intangible assets | $ | 51,812 | $ | 14,790 | $ | 50,765 | $ | 13,605 | |||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ||||||||
Changes In Each Component Of AOCI | ' | ||||||||
Foreign Currency Translation Adjustments | Pension and Postretirement Plans, net of tax | Total | |||||||
Balance at September 30, 2013 | $ | -178 | $ | -4,278 | $ | -4,456 | |||
Other comprehensive income before reclassifications | -256 | - | -256 | ||||||
Amounts reclassified from accumulated other comprehensive income | - | 165 | 165 | ||||||
Net current period other comprehensive income | -256 | 165 | -91 | ||||||
Balance at December 31, 2013 | $ | -434 | $ | -4,113 | $ | -4,547 | |||
Summary Of Reclassifications Out Of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||
Pension and Postretirement Plans | Three Months Ended December 31, | ||||||||
2013 | 2012 | ||||||||
Amortization of net loss | $ | 45 | $ | 108 | |||||
Provision for income taxes | 120 | - | |||||||
Total net of tax | $ | 165 | $ | 108 | |||||
Segment_Information_Tables
Segment Information (Tables) | 3 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Segment Information [Abstract] | ' | ||||||
Financial Information For Each Reportable Segment | ' | ||||||
Three Months Ended December 31, | |||||||
2013 | 2012 | ||||||
Revenues by segment: | |||||||
Radiation Measurement | $ | 27,741 | 26,403 | ||||
Medical Physics | 7,739 | 7,589 | |||||
Medical Products | 2,225 | 2,689 | |||||
Consolidated revenues | $ | 37,705 | 36,681 | ||||
Three Months Ended December 31, | |||||||
2013 | 2012 | ||||||
Operating income (loss) by segment: | |||||||
Radiation Measurement | $ | 8,579 | 9,432 | ||||
Medical Physics | 433 | 792 | |||||
Medical Products | -438 | 670 | |||||
Corporate | -3,549 | -4,167 | |||||
Consolidated operating income | $ | 5,025 | 6,727 | ||||
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (Quoted Prices in Active Markets for Identical Assets (Level 1) [Member], USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash equivalents | $118 | $55 |
Mutual funds | 3,473 | 2,922 |
Total financial assets at fair value | $3,591 | $2,977 |
Income_Per_Common_Share_Detail
Income Per Common Share (Details) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Per Common Share [Abstract] | ' | ' |
Net income attributed to Landauer, Inc. | $3,051 | $4,877 |
Less: Income allocated to unvested restricted stock | 46 | 31 |
Net income available to common stockholders | $3,005 | $4,846 |
Basic weighted averages shares outstanding | 9,422 | 9,336 |
Net (loss) income per share - Basic | $0.32 | $0.52 |
Effect of dilutive securities | 45 | 49 |
Diluted weighted averages shares outstanding | 9,467 | 9,385 |
Net (loss) income per share - Diluted | $0.32 | $0.52 |
Dividends paid per share | $0.55 | ' |
Employee_Benefit_Plans_Narrati
Employee Benefit Plans (Narrative) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Employee Benefit Plans [Abstract] | ' | ' |
Employer contribution for defined contribution plans | $458 | $371 |
Employee_Benefit_Plans_Schedul
Employee Benefit Plans (Schedule Of Net Periodic Benefit Costs) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Pension Benefits [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Interest cost | $375 | $340 |
Expected return on plan assets | -377 | -365 |
Amortization of net (gain) loss | 48 | 108 |
Net periodic benefit cost | 46 | 83 |
Other Benefits [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Service cost | 15 | 17 |
Interest cost | 13 | 12 |
Amortization of net (gain) loss | -3 | ' |
Net periodic benefit cost | $25 | $29 |
Goodwill_And_Other_Intangible_1
Goodwill And Other Intangible (Narrative) (Details) (USD $) | 0 Months Ended | 3 Months Ended |
In Thousands, unless otherwise specified | Dec. 23, 2013 | Dec. 31, 2013 |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
increase in goodwill | $2,019 | $2,019 |
Increase in customer lists | 772 | ' |
Medical Products [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
increase in goodwill | ' | $2,019 |
Goodwill_And_Other_Intangible_2
Goodwill And Other Intangible (Changes In The Carrying Amount Of Goodwill, By Reportable Segment) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 3 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 23, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 |
Radiation Measurement [Member] | Medical Physics [Member] | Medical Physics [Member] | Medical Products [Member] | |||
Goodwill | ' | $84,436 | $20,456 | $22,611 | $22,611 | $41,369 |
Increase related to acquisitions, net of subsequent adjustments for deferred taxes | 2,019 | 2,019 | ' | ' | ' | 2,019 |
Effects of foreign currency | ' | 74 | 74 | ' | ' | ' |
Goodwill | ' | $86,529 | $20,530 | $22,611 | $22,611 | $43,388 |
Goodwill_And_Other_Intangible_3
Goodwill And Other Intangible (Other Intangible Assets) (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $51,812 | $50,765 |
Accumulated Amortization | 14,790 | 13,605 |
Customer Lists [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 44,865 | 43,954 |
Accumulated Amortization | 12,676 | 11,639 |
Trademarks And Tradenames [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 2,156 | 2,154 |
Accumulated Amortization | 451 | 400 |
Licenses And Patents [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 4,214 | 4,080 |
Accumulated Amortization | 1,106 | 1,009 |
Other Intangibles [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 577 | 577 |
Accumulated Amortization | $557 | $557 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Changes In Each Component Of AOCI) (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' |
Balance | ($4,456) |
Other comprehensive income before reclassifications | -256 |
Amounts reclassified from accumulated other comprehensive income | 165 |
Net current period other comprehensive income | -91 |
Balance | -4,547 |
Foreign Currency Translation Adjustments [Member] | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' |
Balance | -178 |
Other comprehensive income before reclassifications | -256 |
Net current period other comprehensive income | -256 |
Balance | -434 |
Pension And Postretirement Plans [Member] | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' |
Balance | -4,278 |
Amounts reclassified from accumulated other comprehensive income | 165 |
Net current period other comprehensive income | 165 |
Balance | ($4,113) |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Loss) (Summary Of Reclassifications Out Of Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Provision for income taxes | $1,496 | $2,274 |
Total net of tax | -165 | -108 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension And Postretirement Plans [Member] | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Amortization of net loss | 45 | 108 |
Provision for income taxes | 120 | ' |
Total net of tax | $165 | $108 |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
segment | ||
Reporting segments | 3 | ' |
Revenues | $37,705 | $36,681 |
Operating income (loss) | 5,025 | 6,727 |
Radiation Measurement [Member] | ' | ' |
Revenues | 27,741 | 26,403 |
Operating income (loss) | 8,579 | 9,432 |
Medical Physics [Member] | ' | ' |
Revenues | 7,739 | 7,589 |
Operating income (loss) | 433 | 792 |
Medical Products [Member] | ' | ' |
Revenues | 2,225 | 2,689 |
Operating income (loss) | -438 | 670 |
Corporate [Member] | ' | ' |
Operating income (loss) | ($3,549) | ($4,167) |