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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Mar. 31, 2015	Apr. 30, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	POWELL INDUSTRIES INC
Entity Central Index Key	0000080420
Document Type	10-Q
Document Period End Date	Mar. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Trading Symbol	powl
Entity Common Stock, Shares Outstanding		11,818,282

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2015	Sep. 30, 2014
Current Assets:
Cash and cash equivalents	$ 55,672	$ 103,118
Accounts receivable, less allowance for doubtful accounts of $1,881 and $1,577	121,366	107,162
Costs and estimated earnings in excess of billings on uncompleted contracts	96,709	95,970
Inventories	35,735	32,815
Income taxes receivable	3,493	2,804
Deferred income taxes	5,170	5,297
Prepaid expenses	2,894	5,870
Other current assets	4,828	4,291
Total Current Assets	325,867	357,327
Property, plant and equipment, net	161,789	156,896
Goodwill	1,003	1,003
Intangible assets, net	1,607	1,904
Deferred income taxes	3,941	11,422
Other assets	9,824	8,224
Long-term receivable (Note D)	2,333	4,667
Total Assets	506,364	541,443
Current Liabilities:
Current maturities of long-term debt and capital lease obligations	400	400
Income taxes payable	966	705
Accounts payable	53,339	70,209
Accrued salaries, bonuses and commissions	19,388	25,206
Billings in excess of costs and estimated earnings on uncompleted contracts	64,171	48,702
Accrued product warranty	4,375	4,557
Other accrued expenses	4,603	6,291
Deferred credit ─ short term (Note D)	2,029	2,029
Total Current Liabilities	149,271	158,099
Long-term debt and capital lease obligations, net of current maturities	2,400	2,800
Deferred compensation	5,446	4,226
Other long-term liabilities	669	655
Deferred credit ─ long term (Note D)	3,551	4,566
Total Liabilities	161,337	170,346
Commitments and Contingencies (Note F)
Stockholders' Equity:
Preferred stock, par value $.01; 5,000,000 shares authorized; none issued
Common stock, par value $.01; 30,000,000 shares authorized; 11,911,743 and 12,031,243 shares issued and outstanding, respectively	120	120
Additional paid-in capital	47,277	46,267
Retained earnings	321,027	331,213
Treasury stock, 171,416 shares at cost	(5,759)
Accumulated other comprehensive loss	(17,638)	(6,503)
Total Stockholders' Equity	345,027	371,097
Total Liabilities and Stockholders' Equity	$ 506,364	$ 541,443

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2015	Sep. 30, 2014
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 1,881	$ 1,577
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	30,000,000	30,000,000
Common stock, shares issued	11,911,743	12,031,243
Common stock, shares outstanding	11,911,743	12,031,243
Treasury stock, shares	171,416	171,416

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Revenues	$ 170,199	$ 162,295	$ 322,800	$ 334,167
Cost of goods sold	145,898	127,367	277,430	264,081
Gross profit	24,301	34,928	45,370	70,086
Selling, general and administrative expenses	19,464	22,088	40,279	43,722
Research and development expenses	1,626	2,157	3,466	3,996
Amortization of intangible assets	113	121	232	536
Restructuring and separation expenses	1,332		1,332
Operating income	1,766	10,562	61	21,832
Other income	(879)	(507)	(1,386)	(507)
Interest expense	33	41	69	110
Interest income	(84)	(3)	(88)	(6)
Income from continuing operations before income taxes	2,696	11,031	1,466	22,235
Income tax provision	6,379	4,055	5,388	7,992
Income (loss) from continuing operations	(3,683)	6,976	(3,922)	14,243
Income from discontinued operations, net of tax (Note J)		8,617		9,604
Net income (loss)	$ (3,683)	$ 15,593	$ (3,922)	$ 23,847
Earnings (loss) per share:
Continuing operations	$ (0.31)	$ 0.58	$ (0.33)	$ 1.19
Discontinued operations		0.72		0.80
Basic earnings (loss) per share	(0.31)	1.30	(0.33)	1.99
Continuing operations	(0.31)	0.58	(0.33)	1.18
Discontinued operations		0.71		0.80
Diluted earnings (loss) per share	$ (0.31)	$ 1.29	$ (0.33)	$ 1.98
Weighted average shares:
Basic	12,018	12,004	12,029	11,999
Diluted	12,018	12,064	12,029	12,057
Dividends per share	$ 0.26	$ 0.25	$ 0.52	$ 0.50

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Consolidated Statement of Comprehensive Income (Loss) [Abstract]
Net income (loss)	$ (3,683)	$ 15,593	$ (3,922)	$ 23,847
Foreign currency translation adjustments	(6,897)	(1,442)	(11,135)	(3,036)
Comprehensive income (loss)	$ (10,580)	$ 14,151	$ (15,057)	$ 20,811

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statement of Stockholders' Equity - 6 months ended Mar. 31, 2015 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Income/(Loss)
Balance at Sep. 30, 2014	$ 371,097	$ 120	$ 46,267	$ 331,213		$ (6,503)
Balance, shares at Sep. 30, 2014	12,031,243	12,031,000
Net loss	$ (3,922)			(3,922)
Foreign currency translation adjustments	(11,135)					(11,135)
Stock-based compensation	1,567		1,567
Stock-based compensation, shares		36,000
Shares withheld in lieu of employee tax withholding	(557)		(557)
Issuance of restricted stock, shares		16,000
Purchase of treasury value	$ (5,759)				$ (5,759)
Purchase of treasury shares	(171,416)	(171,000)
Dividends paid	$ (6,264)			(6,264)
Balance at Mar. 31, 2015	$ 345,027	$ 120	$ 47,277	$ 321,027	$ (5,759)	$ (17,638)
Balance, shares at Mar. 31, 2015	11,911,743	11,912,000

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Operating Activities:
Net income (loss)	$ (3,922)	$ 23,847
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	6,562	5,059
Amortization	232	536
Gain on sale of discontinued operations, net of tax		(8,563)
Stock-based compensation	1,567	2,001
Bad debt expense (recovery)	469	(60)
Deferred income tax expense (benefit)	7,549	(2,823)
Gain on amended supply agreement	(1,015)	(507)
Cash received from amended supply agreement	2,333	10,000
Changes in operating assets and liabilities:
Accounts receivable, net	(18,321)	(10,472)
Costs and billings in excess of estimates on uncompleted contracts	13,050	(4,840)
Inventories	(3,360)	(495)
Prepaid expenses and other current assets	1,613	959
Accounts payable and income taxes payable	(3,564)	(10,407)
Accrued liabilities	(6,845)	(11,307)
Other, net	(450)	294
Net cash used in operating activities	(4,102)	(6,778)
Investing Activities:
Proceeds from sale of property, plant and equipment	43	60
Proceeds from sale of Transdyn		14,819
Purchases of property, plant and equipment	(28,692)	(8,464)
Net cash provided by (used in) investing activities	(28,649)	6,415
Financing Activities:
Payments on industrial development revenue bonds	(400)	(400)
Cash paid for employee taxes in lieu of shares	(557)	(499)
Purchase of treasury shares	(5,759)
Dividends paid	(6,264)	(5,992)
Payments on short-term and other financing		(16)
Net cash used in financing activities	(12,980)	(6,907)
Net increase (decrease) in cash and cash equivalents	(45,731)	(7,270)
Effect of exchange rate changes on cash and cash equivalents	(1,715)	1,252
Cash and cash equivalents, beginning of period	103,118	107,411
Cash and cash equivalents, end of period	$ 55,672	$ 101,393

Overview and Summary of Significant Accounting Policies

6 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Overview and Summary of Significant Accounting Policies

A. OVERVIEW AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Overview

Powell Industries, Inc. (we, us, our, Powell or the Company) was incorporated in the state of Delaware in 2004 as a successor to a Nevada company incorporated in 1968. The Nevada corporation was the successor to a company founded by William E. Powell in 1947, which merged into the Company in 1977. Our major subsidiaries, all of which are wholly owned, include: Powell Electrical Systems, Inc.; Powell (UK) Limited; Powell Canada Inc. and Powell Industries International, B.V.

We develop, design, manufacture and service custom-engineered equipment and systems for the distribution, control and monitoring of electrical energy designed to (1) distribute, monitor and control the flow of electrical energy and (2) provide protection to motors, transformers and other electrically powered equipment. Headquartered in Houston, Texas, we serve the transportation, energy, industrial and utility industries.

Basis of Presentation

These unaudited condensed consolidated financial statements include the accounts of Powell and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.

These unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X for interim financial information. Certain information and footnote disclosures, normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP), have been condensed or omitted pursuant to those rules and regulations. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary to fairly state the financial position, results of operations and cash flows with respect to the interim consolidated financial statements have been included. The results of operations for the interim periods are not necessarily indicative of the results for the entire fiscal year. We believe that these financial statements contain all adjustments necessary so that they are not misleading. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP.

These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto of Powell and its subsidiaries included in Powell’s Annual Report on Form 10-K for the year ended September 30, 2014, which was filed with the Securities and Exchange Commission (SEC) on December 3, 2014.

References to Fiscal 2015, Fiscal 2014 and Fiscal 2013 used throughout this report shall mean our fiscal years ended September 30, 2015, 2014 and 2013, respectively.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying footnotes. The most significant estimates used in our financial statements affect revenue and cost recognition for construction contracts, the allowance for doubtful accounts, provision for excess and obsolete inventory, goodwill and other intangible assets, self-insurance, warranty accruals and income taxes. The amounts recorded for insurance claims, warranties, legal, income taxes and other contingent liabilities require judgments regarding the amount of expenses that will ultimately be incurred. We base our estimates on historical experience and on various other assumptions, as well as the specific circumstances surrounding these contingent liabilities, in evaluating the amount of liability that should be recorded. Additionally, the recognition of deferred tax assets requires estimates related to future income and other assumptions regarding timing and future profitability. Estimates may change as new events occur, additional information becomes available or operating environments change. Actual results may differ from our estimates.

Supplemental Disclosures of Cash Flow Information (in thousands):


	Six months ended March 31,
	2015		2014
Non-cash capital expenditures	$	3,351	$	389

New Accounting Standards

In July 2013, the FASB issued accounting guidance on the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance states that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should 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. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013, which would be our fiscal year ended September 30, 2015. This guidance should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. The adoption of this guidance has not had a significant impact on our consolidated financial position or results of operations.

In April 2014, the FASB issued an amendment to the financial reporting of discontinued operations. The amendments in this update changed the criteria for reporting discontinued operations while enhancing disclosures in this area. It also addresses sources of confusion and inconsistent application related to the financial reporting of discontinued operations guidance in U.S. GAAP. Under the new guidance, only disposals representing a strategic shift in operations that have a major effect on the organization’s operations and financial results should be presented as discontinued operations. Examples include a disposal of a major geographic area, a major line of business, or a major equity method investment. In addition, the new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The new guidance also requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. This disclosure will provide users with information about the ongoing trends in a reporting organization’s results from continuing operations. The amendments in this update are effective in the first quarter of 2015, which would be our fiscal year end September 30, 2016. Early adoption is permitted for disposals that have not been previously reported as discontinued operations.

In May 2014, the FASB issued a new standard on revenue recognition that supersedes previously issued revenue recognition guidance. This standard provides a five-step approach to be applied to all contracts with customers and requires expanded disclosures about the nature, amount, timing and uncertainty of revenue (and the related cash flows) arising from customer contracts, significant judgments and changes in judgments used in applying the revenue model and the assets recognized from costs incurred to obtain or fulfill a contract. This new standard is effective for us beginning in fiscal year 2018. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method therefore we are evaluating the effect that this new guidance will have on our consolidated financial statements and related disclosures. We have not yet selected a transition method nor have we determined the effect of the standard on our ongoing financial reporting.

In June 2014, the FASB issued an amendment to the topic regarding share-based payments and instances where terms of an award provide that a performance target can be achieved after the requisite service period. This guidance has been provided to resolve the diversity in practice concerning employee share-based payments that contain performance targets that could be achieved after the requisite service period. The updated guidance requires that a performance target that affects vesting and that can be achieved after the requisite service period be treated as a performance condition. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and is attributable to the periods for which service has been rendered. If the performance target becomes probable of being achieved before the end of the service period, the remaining unrecognized compensation cost for which requisite service has not yet been rendered is recognized prospectively over the remaining service period. The total amount of compensation cost recognized during and after the service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The updated guidance is effective for annual and interim periods beginning after December 15, 2015, with early adoption permitted. The adoption of this guidance is not expected to have a material impact on our consolidated financial position or results of operations.

Discontinued operations

In January 2014, we sold our wholly owned subsidiary Transdyn Inc. (Transdyn). For the quarter and six months ended March 31, 2014, we have presented the results of these operations as income from discontinued operations, net of tax. See Note J.

Earnings Per Share

6 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share

B. EARNINGS PER SHARE

We compute basic earnings per share by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per common and potential common share includes the weighted average of additional shares associated with the incremental effect of dilutive restricted stock and restrictive stock units, as prescribed by the FASB guidance on earnings per share.

The following table reconciles basic and diluted weighted average shares used in the computation of earnings per share (in thousands, except per share data):

	Three months ended March 31,					Six months ended March 31,
	2015			2014		2015			2014
Numerator:
Income (loss) from continuing operations	$	(3,683	)	$	6,976	$	(3,922	)	$	14,243
Income from discontinued operations		—			8,617		—			9,604
Net income (loss)	$	(3,683	)	$	15,593	$	(3,922	)	$	23,847
Denominator:
Weighted average basic shares		12,018			12,004		12,029			11,999
Dilutive effect of restricted stock units		—			60		—			58
Weighted average diluted shares with assumed conversions		12,018			12,064		12,029			12,057
Net earnings (loss) per share:
Continuing operations	$	(0.31	)	$	0.58	$	(0.33	)	$	1.19
Discontinued operations		—			0.72		—			0.80
Basic earnings (loss) per share	$	(0.31	)	$	1.30	$	(0.33	)	$	1.99

Continuing operations	$	(0.31	)	$	0.58	$	(0.33	)	$	1.18
Discontinued operations		—			0.71		—			0.80
Diluted earnings (loss) per share	$	(0.31	)	$	1.29	$	(0.33	)	$	1.98

For the quarter and six months ended March 31, 2015, we incurred a net loss and therefore all potential common shares were deemed to be anti-dilutive.

Detail of Selected Balance Sheet Accounts

6 Months Ended

Mar. 31, 2015

Disclosure Text Block Supplement [Abstract]

Detail of Selected Balance Sheet Accounts

C. DETAIL OF SELECTED BALANCE SHEET ACCOUNTS

Allowance for Doubtful Accounts

Activity in our allowance for doubtful accounts receivable consisted of the following (in thousands):


	Three months ended March 31,						Six months ended March 31,
	2015			2014			2015			2014
Balance at beginning of period	$	1,844		$	673		$	1,577		$	572
Bad debt expense/(recovery)		186			(170	)		469			(60	)
Uncollectible accounts written off, net of recoveries		(120	)		—			(122	)		(9	)
Change in foreign currency translation		(29	)		(2	)		(43	)		(2	)
Balance at end of period	$	1,881		$	501		$	1,881		$	501

Inventories:

The components of inventories are summarized below (in thousands):


	March 31, 2015			September 30, 2014
Raw materials, parts and subassemblies	$	39,063		$	35,349
Work-in-progress		1,558			2,035
Provision for excess and obsolete inventory		(4,886	)		(4,569	)
Total inventories	$	35,735		$	32,815

Cost and Estimated Earnings on Uncompleted Contracts

The components of costs and estimated earnings and related amounts billed on uncompleted contracts are summarized below (in thousands):

	March 31,			September 30,
	2015			2014
Costs incurred on uncompleted contracts	$	618,778		$	604,939
Estimated earnings		161,724			157,562
		780,502			762,501
Less: Billings to date		(747,964	)		(715,233	)
Net underbilled position	$	32,538		$	47,268

Included in the accompanying balance sheets under the following captions:
Costs and estimated earnings in excess of billings on uncompleted contracts - underbilled	$	96,709		$	95,970
Billings in excess of costs and estimated earnings on uncompleted contracts - overbilled		(64,171	)		(48,702	)
Net underbilled position	$	32,538		$	47,268

Warranty Accrual

Activity in our product warranty accrual consisted of the following (in thousands):

	Three months ended March 31,						Six months ended March 31,
	2015			2014			2015			2014
Balance at beginning of period	$	4,480		$	5,010		$	4,557		$	5,282
Increase to warranty expense		530			1,042			1,067			1,505
Deduction for warranty charges		(504	)		(1,196	)		(1,028	)		(1,926	)
Increase (decrease) due to foreign currency translations		(131	)		(23	)		(221	)		(28	)
Balance at end of period	$	4,375		$	4,833		$	4,375		$	4,833

Intangible Assets

6 Months Ended

Mar. 31, 2015

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

D. INTANGIBLE ASSETS

Intangible assets balances, subject to amortization, at March 31, 2015 and September 30, 2014 consisted of the following (in thousands):

	March 31, 2015							September 30, 2014
	Gross					Net		Gross					Net
	Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	Value		Amortization			Value		Value		Amortization			Value
Purchased technology	$	11,749	$	(10,165	)	$	1,584	$	11,749	$	(9,918	)	$	1,831
Trade name		1,136		(1,113	)		23		1,136		(1,063	)		73
Total	$	12,885	$	(11,278	)	$	1,607	$	12,885	$	(10,981	)	$	1,904

Amortization of intangible assets recorded for the six months ended March 31, 2015 and 2014 was $0.2 million and $0.5 million, respectively.

On August 7, 2006, we purchased certain assets related to the manufacturing of ANSI medium-voltage switchgear and circuit breaker business from General Electric Company (GE). In connection with the acquisition, we entered into a 15 year supply agreement with GE pursuant to which GE would purchase from the Company all of its requirements for ANSI medium-voltage switchgear and circuit breakers and other related equipment and components (the Products). In connection with the acquisition, we recorded an intangible asset related to this supply agreement. On December 30, 2013, the Company and GE amended the supply agreement to allow GE to manufacture similar Products for sale immediately and allow GE to begin purchasing Products from other suppliers beginning December 31, 2014. In return, GE paid us $10 million upon execution of the amended supply agreement in the first quarter of Fiscal 2014 and agreed to pay an additional $7 million over three years. The first payment of $2.3 million was received in March 2015. We wrote off the intangible asset related to the original supply agreement and recorded a deferred credit in the amount of $8.1 million at December 31, 2013, the amount by which the proceeds from GE exceeded the unamortized balance of our intangible asset. This deferred credit is being amortized over the four year life of the agreement.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Long-Term Debt

6 Months Ended

Mar. 31, 2015

Debt Disclosure [Abstract]

Long-Term Debt

E. LONG-TERM DEBT

Long-term debt consisted of the following (in thousands):

	March 31, 2015			September 30, 2014
	March 31, 2015			September 30, 2014
Industrial development revenue bonds	$	2,800		$	3,200
Less current portion		(400	)		(400	)
Total long-term debt and capital lease obligations	$	2,400		$	2,800

U.S. Revolver

In December 2013, we amended and restated our existing credit agreement (the Amended Credit Agreement) with a major domestic bank. In December 2014, we entered into the Second Amendment of the Amended Credit Agreement (the Second Amendment). The Second Amendment provides for the expansion of our Canadian manufacturing facility and allows for the repurchase of our common stock pursuant to a share repurchase program announced in December 2014. The Amended Credit Agreement provides for a $75.0 million revolving credit facility (U.S. Revolver). Obligations are collateralized by the stock of certain of our subsidiaries.

The interest rate for amounts outstanding under the Amended Credit Agreement for the U.S. Revolver is a floating rate based upon the higher of the Federal Funds Rate plus 0.5%, the bank’s prime rate, or the Eurocurrency rate plus 1.00%. Once the applicable rate is determined, a margin ranging up to 1.75%, as determined by our consolidated leverage ratio, is added to the applicable rate.

The U.S. Revolver provides for the issuance of letters of credit which reduce the amounts that may be borrowed under this revolver. The amount available under the U.S. Revolver was reduced by $18.0 million for our outstanding letters of credit at March 31, 2015.

There were no borrowings outstanding under the U.S. Revolver as of March 31, 2015. Amounts available under the U.S. Revolver were $57.0 million at March 31, 2015. The U.S. Revolver expires on December 31, 2018.

The Amended Credit Agreement contains certain restrictive and maintenance-type covenants, such as restrictions on the amount of capital expenditures allowed. It also contains financial covenants defining various financial measures and the levels of these measures with which we must comply, as well as a “material adverse change” clause. A “material adverse change” is defined as a material change in our operations, business, properties, liabilities or condition (financial or otherwise) or a material impairment of our ability to perform our obligations under our credit agreements.

The Amended Credit Agreement is collateralized by a pledge of 100% of the voting capital stock of each of our domestic subsidiaries and 65% of the voting capital stock of each non-domestic subsidiary, excluding Powell Canada. The Amended Credit Agreement provides for customary events of default and carries cross-default provisions with other existing debt agreements. If an event of default (as defined in the Amended Credit Agreement) occurs and is continuing, on the terms and subject to the conditions set forth in the Amended Credit Agreement, amounts outstanding under the Amended Credit Agreement may be accelerated and may become immediately due and payable. As of March 31, 2015, we were in compliance with all of the financial covenants of the Amended Credit Agreement.

Canadian Revolver

On April 15, 2015, we completed the renegotiation of a credit agreement with a major international bank in Canada (the Canadian Revolver) to provide working capital support and letters of credit for our operations in Canada to replace our $7.9 million agreement which expired on February 28, 2015. The Canadian Revolver provides for the issuance of letters of credit which reduce the amounts that may be borrowed under this revolver.

The interest rate for amounts outstanding under the Canadian Revolver is a floating interest rate based upon either the Canadian Prime Rate, or the lender’s Bankers’ Acceptance Rate. Once the applicable rate is determined, a margin of 0.50% to 1.75%, as determined by our consolidated leverage ratio, is added to the applicable rate.

The principal financial covenants are consistent with those described in our Amended Credit Agreement. The Canadian Revolver contains a “material adverse effect” clause. A “material adverse effect” is defined as a material change in the operations of Powell or Powell Canada in relation to our financial condition, property, business operations, expected net cash flows, liabilities or capitalization.

The Canadian Revolver is secured by the assets of our Canadian operations and provides for customary events of default and carries cross-default provisions with our existing debt agreements. If an event of default (as defined in the Canadian Revolver) occurs and is continuing, per the terms and subject to the conditions set forth in the Canadian Revolver, amounts outstanding under the Canadian Revolver may be accelerated and may become immediately due and payable.

Industrial Development Revenue Bonds

We borrowed $8.0 million in October 2001 through a loan agreement funded with proceeds from tax-exempt industrial development revenue bonds (Bonds). These Bonds were issued by the Illinois Development Finance Authority and were used for the completion of our Northlake, Illinois facility. Pursuant to the Bond issuance, a reimbursement agreement between us and a major domestic bank required an issuance by the bank of an irrevocable direct-pay letter of credit (Bond LC), as collateral, to the Bonds’ trustee to guarantee payment of the Bonds’ principal and interest when due. The Bond LC is subject to both early termination and extension provisions customary to such agreements, as well as various covenants, for which we were in compliance at March 31, 2015. While the Bonds mature in 2021, the reimbursement agreement requires annual redemptions of $0.4 million that commenced on October 25, 2002. A sinking fund is used for the redemption of the Bonds. At March 31, 2015, the balance in the restricted sinking fund was approximately $0.2 million and was recorded in cash and cash equivalents. The Bonds bear interest at a floating rate determined weekly by the Bonds’ remarketing agent, which was the underwriter for the Bonds and is an affiliate of the bank. This interest rate was 0.16% as of March 31, 2015.

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Mar. 31, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	F. COMMITMENTS AND CONTINGENCIES Long-Term Debt See Note E herein for discussion of our long-term debt. Letters of Credit and Bonds Certain customers require us to post bank letter of credit guarantees or performance bonds issued by a surety. These guarantees and performance bonds assure that we will perform under the terms of our contract. In the event of default, the counterparty may demand payment from the bank under a letter of credit or performance by the surety under a performance bond. To date, there have been no significant expenses related to either letters of credit or performance bonds for the periods reported. We were contingently liable for secured and unsecured letters of credit of $18.0 million as of March 31, 2015. We also had performance and maintenance bonds totaling $300.9 million that were outstanding, with additional bonding capacity of $299.1 million available, at March 31, 2015. We have a $14.8 million facility agreement (Facility Agreement) between Powell (UK) Limited and a large international bank. This Facility Agreement provides Powell (UK) the ability to enter into bank guarantees as well as forward exchange contracts and currency options. At March 31, 2015, we had outstanding guarantees totaling $5.3 million under this Facility Agreement. Amounts available under this Facility Agreement were $9.5 million as of March 31, 2015. The Facility Agreement provides for financial covenants and customary events of default, and carries cross-default provisions with our Amended Credit Facility. If an event of default (as defined in the Facility Agreement) occurs and is continuing, per the terms and subject to the conditions set forth in the Facility Agreement, obligations outstanding under the Facility Agreement may be accelerated and may become or be declared immediately due and payable. As of March 31, 2015, we were in compliance with all of the financial covenants of the Facility Agreement. Litigation We are involved in various legal proceedings, claims and other disputes arising in the ordinary course of business which, in general, are subject to uncertainties and in which the outcomes are not predictable. Although we can give no assurance about the outcome of pending or threatened litigation and the effect such outcomes may have on us, management believes that any ultimate liability resulting from the outcome of such proceedings, to the extent not otherwise provided or covered by insurance, will not have a material adverse effect on our consolidated financial position or results of operations or liquidity.

Stock-Based Compensation

6 Months Ended

Mar. 31, 2015

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

G.	STOCK-BASED COMPENSATION

Refer to our Annual Report on Form 10-K for the fiscal year ended September 30, 2014 for a full description of our existing stock-based compensation plans.

In February 2014, our stockholders approved our 2014 Equity Incentive Plan (the 2014 Plan). Persons eligible to receive awards under the 2014 Plan include certain officers and employees. This Plan authorizes stock options, stock appreciation rights, restricted stock, restricted stock units and performance-based awards, as well as certain other awards.

Restricted Stock Units

We issue restricted stock units (RSUs) to certain officers and key employees of the Company. The RSUs typically vest over a three-year period from their date of issuance. The fair value of the RSUs is based on the closing price of our common stock as reported on the NASDAQ Global Market on the grant dates. Sixty-percent of the actual amount of the RSUs earned will be based on the cumulative earnings as reported relative to the three-year performance cycle which begins October 1 of the year granted, and ranges from 0% to 150% of the target RSUs granted. The remaining forty-percent of the RSUs are time-based and vest over a three-year period. At March 31, 2015, there were 161,337 RSUs outstanding. The RSUs do not have voting rights and do not receive dividends on common stock; additionally, the shares of common stock underlying the RSUs are not considered issued and outstanding until actually issued.

RSU activity (number of shares) for the quarter is summarized below:

	Number of			Weighted
	Restricted			Average
	Stock			Fair Value
	Units			Per Share
Outstanding at September 30, 2014		106,845		$	51.30
Granted		88,000			41.88
Vested		(33,508	)		44.06
Forfeited		—			—
Outstanding at March 31, 2015		161,337		$	47.66

During the six months ended March 31, 2015 and 2014, we recorded compensation expense of $0.9 million and $1.5 million, respectively, related to the RSUs.

Restricted Stock

In February 2014 our stockholders also approved the 2014 Non-Employee Director Equity Incentive Plan (the 2014 Director Plan) for the benefit of members of the Board of Directors of the Company who, at the time of their service are not employees of the Company or any of its affiliates. The 2014 Director Plan authorizes stock options, stock appreciation rights, restricted stock, restricted stock units, as well as certain other awards. In February 2015, 16,000 shares of restricted stock were issued to such directors at a price of $33.37 per share under the 2014 Director Plan. The annual restricted stock grants vest 50% per year over a two-year period on each anniversary of the grant date.

During the six months ended March 31, 2015 and 2015, we recorded compensation expense of $0.7 million and $0.5 million, respectively, related to restricted stock grants.

Share Repurchase Program	6 Months Ended
Share Repurchase Program	Mar. 31, 2015
Share Repurchase Program [Abstract]
Share Repurchase Program	H. SHARE REPURCHASE PROGRAM On December 17, 2014, our Board of Directors authorized a repurchase program (the Repurchase Program) under which we may repurchase up to $25 million of our outstanding stock. The purchases may be made from time to time in the open market, through privately negotiated transactions and Rule 10b5-1 trading plans in accordance with applicable laws, rules and regulations. The Repurchase Program will be funded from cash on hand and cash provided by operating activities. The Repurchase Program will expire as of the close of business on December 31, 2015. As of March 31, 2015, we have purchased 171,416 shares at cost of $5.8 million under this Repurchase Program. The average price per share through March 31, 2015 has been $33.60.

Fair Value Measurements

6 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

I. FAIR VALUE MEASUREMENTS

We measure certain financial assets and liabilities at fair value. Fair value is defined as an “exit price” which represents the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in valuing an asset or liability. The accounting guidance requires the use of valuation techniques to measure fair value that maximize the use of observable inputs and minimize the use of unobservable inputs. As a basis for considering such assumptions and inputs, a fair value hierarchy has been established which identifies and prioritizes three levels of inputs to be used in measuring fair value.

The three levels of the fair value hierarchy are as follows:

Level 1 — Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 — Inputs other than the quoted prices in active markets that are observable either directly or indirectly, including: quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active or other inputs that are observable or can be corroborated by observable market data.

Level 3 — Unobservable inputs that are supported by little or no market data and require the reporting entity to develop its own assumptions.

The following table summarizes the fair value of our assets and liabilities that were accounted for at fair value on a recurring basis as of March 31, 2015 (in thousands):

	Fair Value Measurements at March 31, 2015
	Quoted Prices in		Significant Other		Significant
	Active Markets for		Observable		Unobservable		Fair Value at
	Identical Assets		Inputs		Inputs		March 31,
	(Level 1)		(Level 2)		(Level 3)		2015
Assets:
Cash equivalents	$	234	$	—	$	—	$	234
Deferred compensation		2,001		3,134		—		5,135
Liabilities:
Deferred compensation		—		4,947		—		4,947

The following table summarizes the fair value of our assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2014 (in thousands):

	Fair Value Measurements at September 30, 2014
	Quoted Prices in		Significant Other		Significant
	Active Markets for		Observable		Unobservable		Fair Value at
	Identical Assets		Inputs		Inputs		September 30,
	(Level 1)		(Level 2)		(Level 3)		2014
Assets:
Cash equivalents	$	10,535	$	—	$	—	$	10,535
Deferred compensation		724		2,802		—		3,526
Liabilities:
Deferred compensation		—		3,688		—		3,688

Cash equivalents, primarily funds held in money market savings instruments, are reported at their current carrying value which approximates fair value due to the short-term nature of these instruments and are included in cash and cash equivalents in our Condensed Consolidated Balance Sheets.

Fair Value of Other Financial Instruments

Fair value guidance requires certain fair value disclosures be presented in both interim and annual reports. The estimated fair value amounts of financial instruments have been determined using available market information and valuation methodologies described below.

Deferred Compensation – We hold investments in an irrevocable Rabbi Trust for our deferred compensation plan. These assets include various mutual fund investments and company-owned life insurance policies. Under the plan, participants designate investment options to serve as the basis for measurement of the notional value of their accounts. The fair values of the underlying securities of these funds are based on quoted market prices and are categorized as Level I in the fair value measurement hierarchy. The company-owned life insurance policies are valued at cash surrender value and are therefore categorized as Level 2 in the fair value measurement hierarchy.

Industrial Development Revenue Bond – The fair value of our long-term debt depends primarily on the coupon rate of our industrial development revenue bonds. The carrying value of our long-term debt at March 31, 2015, approximates fair value based on the current coupon rate of the bonds, which is reset weekly, and is classified as a Level 2 input in the fair value measurement hierarchy as there is an active market for the trading of these industrial development revenue bonds.

There were no transfers between levels within the fair value measurement hierarchy during the six months ended March 31, 2015.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Discontinued Operations

6 Months Ended

Mar. 31, 2015

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations

J. DISCONTINUED OPERATIONS

On January 15, 2014, we sold our wholly-owned subsidiary Transdyn to a global provider of electronic toll collection systems, headquartered in Vienna, Austria. The purchase price from the sale of this subsidiary totaled $16.0 million, subject to working capital adjustments. We received cash of $14.4 million and the remaining $1.6 million was placed into an escrow account, to be released subject to resolution of certain claims.

We have presented the results of these operations as income from discontinued operations, net of tax, in the condensed consolidated statements of operations as of March 31, 2014.

Summary comparative financial results of discontinued operations were as follows (in thousands):

	Three months ended March 31,				Six months ended March 31,
	2015		2014		2015		2014
Revenues	$	—	$	1,557	$	—	$	13,923
Income from discontinued operations, net of tax of zero, $131, zero and $633, respectively		—		54		—		1,041
Gain on sale of discontinued operations, net of tax of $5,218		—		8,563		—		8,563
Net income from discontinued operations, net of tax	$	—	$	8,617	$	—	$	9,604

Earnings per share information:
Basic	$	—	$	0.72	$	—	$	0.80
Diluted	$	—	$	0.71	$	—	$	0.80

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

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+ Details

Income Taxes

6 Months Ended

Mar. 31, 2015

Income Tax Disclosure [Abstract]

Income Taxes

K. INCOME TAXES

The calculation of the effective tax rate is as follows (in thousands):

	Three months ended March 31,						Six months ended March 31,
	2015			2014			2015			2014
Income from continuing operations before income taxes	$	2,696		$	11,031		$	1,466		$	22,235

Income tax provision		6,379			4,055			5,388			7,992

Income (loss) from continuing operations	$	(3,683	)	$	6,976		$	(3,922	)	$	14,243

Effective tax rate		237	%		37	%		368	%		36	%

A reconciliation of the significant differences between the statutory U. S. income tax rate and the effective income tax rate, as computed on earnings (loss) before income tax provision for the six months ended March 31, 2015 and 2014, is as follows:

	Six months ended March 31,
	2015			2014
Statutory rate		35	%		35	%
Canadian valuation allowance		661			—
Research and Development Credit		(327	)		—
State rate		2			2
Domestic production activities deduction		(2	)		(2	)
Other		(1	)		1
Effective rate		368	%		36	%

We recorded a provision for income taxes from continuing operations of $6.4 million in the second quarter of Fiscal 2015, compared to the provision of $4.1 million recorded in the second quarter of Fiscal 2014. The effective tax rate for the second quarter of Fiscal 2015 was 236.6% compared to an effective tax rate of 36.8% for the second quarter of Fiscal 2014, primarily due to certain discrete items recorded in the second quarter of Fiscal 2015. These discrete items include a valuation allowance recorded against our Canadian deferred tax assets in the amount of $9.0 million, as discussed below, partially offset by the release of a FIN 48 reserve related to the Federal Research and Development Tax Credit (R&D Credit) in the amount of $4.1 million upon closing an Internal Revenue Service (IRS) audit. The effective tax rate for the quarter ended March 31, 2014 approximated the combined U.S. federal and state statutory rates as the majority of our income was attributable to the U.S.

We recorded a provision for income taxes from continuing operations of $5.4 million in the six months ended March 31, 2015, compared to the provision of $8.0 million recorded in the six months ended March 31, 2014. The effective tax rate for the six months ended March 31, 2015 was 367.5% compared to an effective tax rate of 35.9% for the six months ended March 31, 2014 primarily due to a valuation allowance against our Canadian deferred tax assets partially offset by the release of a FIN 48 reserve related to the R&D Credit upon closing an IRS audit as well as the December 19, 2014 retroactive reinstatement of the R&D Credit from January 1, 2014 through December 31, 2014. The effective tax rate for the six months ended March 31, 2014 approximated the combined U.S. federal and state statutory rate as the majority of our income was attributable to the U.S.

At March 31, 2015, we had $32 million of gross foreign net operating loss carryforwards, the benefits of which are recorded as deferred tax assets and are subject to a 20-year carryforward period, the first of which will expire in 2031. During our quarterly assessment of deferred taxes, in the second quarter of Fiscal 2015, we established a valuation allowance in the amount of $9.0 million against Canadian net deferred tax assets. In assessing the realizability of net deferred tax assets, we consider whether it is more-likely-than-not that some portion or all of the net deferred tax assets may not be realized. The ultimate realization of net deferred tax assets is dependent on the generation of future taxable income during the periods in which those temporary differences become deductible. In light of the historical Canadian losses, and recent changes in projected losses in the near term, we are required under the more-likely-than-not accounting standard to record a valuation allowance against the Canadian net deferred assets because we may not be able to realize the benefits of the net operating loss carryforwards and other deductible differences.

We believe that our deferred tax assets in other tax jurisdictions, with the exception of those related to certain foreign withholding taxes and the net operating losses of our Dutch entities, are more-likely-than-not realizable through future reversals of existing taxable temporary differences and our estimate of future taxable income. Estimates may change as new events occur, estimates of future taxable income during the carryforward period are reduced or increased, additional information becomes available or operating environments change, which may result in a full or partial reversal of the valuation allowance.

Restructuring and Separation Costs	6 Months Ended
Restructuring and Separation Costs	Mar. 31, 2015
Restructuring And Related Activities [Abstract]
Restructuring and Separation Costs	L. RESTRUCTURING AND SEPARATION COSTS In the second quarter of Fiscal 2015, we incurred approximately $1.3 million in restructuring and separation costs associated with the departure of our former Chief Operating Officer and severance costs related to our Canadian operations and certain U.S. operations which were negatively impacted by deteriorating market conditions. Of these costs, $0.8 million has been paid as of March 31, 2015 and the remaining $0.5 million will be distributed over the next sixteen months.

Overview and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Overview	Overview Powell Industries, Inc. (we, us, our, Powell or the Company) was incorporated in the state of Delaware in 2004 as a successor to a Nevada company incorporated in 1968. The Nevada corporation was the successor to a company founded by William E. Powell in 1947, which merged into the Company in 1977. Our major subsidiaries, all of which are wholly owned, include: Powell Electrical Systems, Inc.; Powell (UK) Limited; Powell Canada Inc. and Powell Industries International, B.V. We develop, design, manufacture and service custom-engineered equipment and systems for the distribution, control and monitoring of electrical energy designed to (1) distribute, monitor and control the flow of electrical energy and (2) provide protection to motors, transformers and other electrically powered equipment. Headquartered in Houston, Texas, we serve the transportation, energy, industrial and utility industries.
Basis of Presentation	Basis of Presentation These unaudited condensed consolidated financial statements include the accounts of Powell and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. These unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X for interim financial information. Certain information and footnote disclosures, normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP), have been condensed or omitted pursuant to those rules and regulations. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary to fairly state the financial position, results of operations and cash flows with respect to the interim consolidated financial statements have been included. The results of operations for the interim periods are not necessarily indicative of the results for the entire fiscal year. We believe that these financial statements contain all adjustments necessary so that they are not misleading. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto of Powell and its subsidiaries included in Powell’s Annual Report on Form 10-K for the year ended September 30, 2014, which was filed with the Securities and Exchange Commission (SEC) on December 3, 2014. References to Fiscal 2015, Fiscal 2014 and Fiscal 2013 used throughout this report shall mean our fiscal years ended September 30, 2015, 2014 and 2013, respectively.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying footnotes. The most significant estimates used in our financial statements affect revenue and cost recognition for construction contracts, the allowance for doubtful accounts, provision for excess and obsolete inventory, goodwill and other intangible assets, self-insurance, warranty accruals and income taxes. The amounts recorded for insurance claims, warranties, legal, income taxes and other contingent liabilities require judgments regarding the amount of expenses that will ultimately be incurred. We base our estimates on historical experience and on various other assumptions, as well as the specific circumstances surrounding these contingent liabilities, in evaluating the amount of liability that should be recorded. Additionally, the recognition of deferred tax assets requires estimates related to future income and other assumptions regarding timing and future profitability. Estimates may change as new events occur, additional information becomes available or operating environments change. Actual results may differ from our estimates.
New Accounting Standards	New Accounting Standards In July 2013, the FASB issued accounting guidance on the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance states that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should 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. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013, which would be our fiscal year ended September 30, 2015. This guidance should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. The adoption of this guidance has not had a significant impact on our consolidated financial position or results of operations. In April 2014, the FASB issued an amendment to the financial reporting of discontinued operations. The amendments in this update changed the criteria for reporting discontinued operations while enhancing disclosures in this area. It also addresses sources of confusion and inconsistent application related to the financial reporting of discontinued operations guidance in U.S. GAAP. Under the new guidance, only disposals representing a strategic shift in operations that have a major effect on the organization’s operations and financial results should be presented as discontinued operations. Examples include a disposal of a major geographic area, a major line of business, or a major equity method investment. In addition, the new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The new guidance also requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. This disclosure will provide users with information about the ongoing trends in a reporting organization’s results from continuing operations. The amendments in this update are effective in the first quarter of 2015, which would be our fiscal year end September 30, 2016. Early adoption is permitted for disposals that have not been previously reported as discontinued operations. In May 2014, the FASB issued a new standard on revenue recognition that supersedes previously issued revenue recognition guidance. This standard provides a five-step approach to be applied to all contracts with customers and requires expanded disclosures about the nature, amount, timing and uncertainty of revenue (and the related cash flows) arising from customer contracts, significant judgments and changes in judgments used in applying the revenue model and the assets recognized from costs incurred to obtain or fulfill a contract. This new standard is effective for us beginning in fiscal year 2018. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method therefore we are evaluating the effect that this new guidance will have on our consolidated financial statements and related disclosures. We have not yet selected a transition method nor have we determined the effect of the standard on our ongoing financial reporting. In June 2014, the FASB issued an amendment to the topic regarding share-based payments and instances where terms of an award provide that a performance target can be achieved after the requisite service period. This guidance has been provided to resolve the diversity in practice concerning employee share-based payments that contain performance targets that could be achieved after the requisite service period. The updated guidance requires that a performance target that affects vesting and that can be achieved after the requisite service period be treated as a performance condition. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and is attributable to the periods for which service has been rendered. If the performance target becomes probable of being achieved before the end of the service period, the remaining unrecognized compensation cost for which requisite service has not yet been rendered is recognized prospectively over the remaining service period. The total amount of compensation cost recognized during and after the service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The updated guidance is effective for annual and interim periods beginning after December 15, 2015, with early adoption permitted. The adoption of this guidance is not expected to have a material impact on our consolidated financial position or results of operations.
Discontinued Operations	Discontinued operations In January 2014, we sold our wholly owned subsidiary Transdyn Inc. (Transdyn). For the quarter and six months ended March 31, 2014, we have presented the results of these operations as income from discontinued operations, net of tax. See Note J.

Overview and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Supplemental Disclosures of Cash Flow Information

Supplemental Disclosures of Cash Flow Information (in thousands):


	Six months ended March 31,
	2015		2014
Non-cash capital expenditures	$	3,351	$	389

Earnings Per Share (Tables)

6 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

The following table reconciles basic and diluted weighted average shares used in the computation of earnings per share (in thousands, except per share data):

	Three months ended March 31,					Six months ended March 31,
	2015			2014		2015			2014
Numerator:
Income (loss) from continuing operations	$	(3,683	)	$	6,976	$	(3,922	)	$	14,243
Income from discontinued operations		—			8,617		—			9,604
Net income (loss)	$	(3,683	)	$	15,593	$	(3,922	)	$	23,847
Denominator:
Weighted average basic shares		12,018			12,004		12,029			11,999
Dilutive effect of restricted stock units		—			60		—			58
Weighted average diluted shares with assumed conversions		12,018			12,064		12,029			12,057
Net earnings (loss) per share:
Continuing operations	$	(0.31	)	$	0.58	$	(0.33	)	$	1.19
Discontinued operations		—			0.72		—			0.80
Basic earnings (loss) per share	$	(0.31	)	$	1.30	$	(0.33	)	$	1.99

Continuing operations	$	(0.31	)	$	0.58	$	(0.33	)	$	1.18
Discontinued operations		—			0.71		—			0.80
Diluted earnings (loss) per share	$	(0.31	)	$	1.29	$	(0.33	)	$	1.98

Detail of Selected Balance Sheet Accounts (Tables)

6 Months Ended

Mar. 31, 2015

Disclosure Text Block Supplement [Abstract]

Activity in Allowance for Doubtful Accounts

Activity in our allowance for doubtful accounts receivable consisted of the following (in thousands):


	Three months ended March 31,						Six months ended March 31,
	2015			2014			2015			2014
Balance at beginning of period	$	1,844		$	673		$	1,577		$	572
Bad debt expense/(recovery)		186			(170	)		469			(60	)
Uncollectible accounts written off, net of recoveries		(120	)		—			(122	)		(9	)
Change in foreign currency translation		(29	)		(2	)		(43	)		(2	)
Balance at end of period	$	1,881		$	501		$	1,881		$	501

Components of Inventories

The components of inventories are summarized below (in thousands):


	March 31, 2015			September 30, 2014
Raw materials, parts and subassemblies	$	39,063		$	35,349
Work-in-progress		1,558			2,035
Provision for excess and obsolete inventory		(4,886	)		(4,569	)
Total inventories	$	35,735		$	32,815

Cost and Estimated Earnings on Uncompleted Contracts

The components of costs and estimated earnings and related amounts billed on uncompleted contracts are summarized below (in thousands):

	March 31,			September 30,
	2015			2014
Costs incurred on uncompleted contracts	$	618,778		$	604,939
Estimated earnings		161,724			157,562
		780,502			762,501
Less: Billings to date		(747,964	)		(715,233	)
Net underbilled position	$	32,538		$	47,268

Included in the accompanying balance sheets under the following captions:
Costs and estimated earnings in excess of billings on uncompleted contracts - underbilled	$	96,709		$	95,970
Billings in excess of costs and estimated earnings on uncompleted contracts - overbilled		(64,171	)		(48,702	)
Net underbilled position	$	32,538		$	47,268

Activity in Product Warranty Accrual

Activity in our product warranty accrual consisted of the following (in thousands):

	Three months ended March 31,						Six months ended March 31,
	2015			2014			2015			2014
Balance at beginning of period	$	4,480		$	5,010		$	4,557		$	5,282
Increase to warranty expense		530			1,042			1,067			1,505
Deduction for warranty charges		(504	)		(1,196	)		(1,028	)		(1,926	)
Increase (decrease) due to foreign currency translations		(131	)		(23	)		(221	)		(28	)
Balance at end of period	$	4,375		$	4,833		$	4,375		$	4,833

Intangible Assets (Tables)

6 Months Ended

Mar. 31, 2015

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets Subject to Amortization

Intangible assets balances, subject to amortization, at March 31, 2015 and September 30, 2014 consisted of the following (in thousands):

	March 31, 2015							September 30, 2014
	Gross					Net		Gross					Net
	Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	Value		Amortization			Value		Value		Amortization			Value
Purchased technology	$	11,749	$	(10,165	)	$	1,584	$	11,749	$	(9,918	)	$	1,831
Trade name		1,136		(1,113	)		23		1,136		(1,063	)		73
Total	$	12,885	$	(11,278	)	$	1,607	$	12,885	$	(10,981	)	$	1,904

Long-Term Debt (Tables)

6 Months Ended

Mar. 31, 2015

Debt Disclosure [Abstract]

Components of Long-Term Debt

Long-term debt consisted of the following (in thousands):

	March 31, 2015			September 30, 2014
	March 31, 2015			September 30, 2014
Industrial development revenue bonds	$	2,800		$	3,200
Less current portion		(400	)		(400	)
Total long-term debt and capital lease obligations	$	2,400		$	2,800

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

+ Details

Stock-Based Compensation (Tables)

6 Months Ended

Mar. 31, 2015

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Restricted Stock Units Activity

RSU activity (number of shares) for the quarter is summarized below:

	Number of			Weighted
	Restricted			Average
	Stock			Fair Value
	Units			Per Share
Outstanding at September 30, 2014		106,845		$	51.30
Granted		88,000			41.88
Vested		(33,508	)		44.06
Forfeited		—			—
Outstanding at March 31, 2015		161,337		$	47.66

Fair Value Measurements (Tables)

6 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value of Assets Measured on Recurring Basis

The following table summarizes the fair value of our assets and liabilities that were accounted for at fair value on a recurring basis as of March 31, 2015 (in thousands):

	Fair Value Measurements at March 31, 2015
	Quoted Prices in		Significant Other		Significant
	Active Markets for		Observable		Unobservable		Fair Value at
	Identical Assets		Inputs		Inputs		March 31,
	(Level 1)		(Level 2)		(Level 3)		2015
Assets:
Cash equivalents	$	234	$	—	$	—	$	234
Deferred compensation		2,001		3,134		—		5,135
Liabilities:
Deferred compensation		—		4,947		—		4,947

The following table summarizes the fair value of our assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2014 (in thousands):

	Fair Value Measurements at September 30, 2014
	Quoted Prices in		Significant Other		Significant
	Active Markets for		Observable		Unobservable		Fair Value at
	Identical Assets		Inputs		Inputs		September 30,
	(Level 1)		(Level 2)		(Level 3)		2014
Assets:
Cash equivalents	$	10,535	$	—	$	—	$	10,535
Deferred compensation		724		2,802		—		3,526
Liabilities:
Deferred compensation		—		3,688		—		3,688

Discontinued Operations (Tables)

6 Months Ended

Mar. 31, 2015

Discontinued Operations And Disposal Groups [Abstract]

Schedule of Discontinued Operations

Summary comparative financial results of discontinued operations were as follows (in thousands):

	Three months ended March 31,				Six months ended March 31,
	2015		2014		2015		2014
Revenues	$	—	$	1,557	$	—	$	13,923
Income from discontinued operations, net of tax of zero, $131, zero and $633, respectively		—		54		—		1,041
Gain on sale of discontinued operations, net of tax of $5,218		—		8,563		—		8,563
Net income from discontinued operations, net of tax	$	—	$	8,617	$	—	$	9,604

Earnings per share information:
Basic	$	—	$	0.72	$	—	$	0.80
Diluted	$	—	$	0.71	$	—	$	0.80

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References + Details

Income Taxes (Tables)

6 Months Ended

Mar. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate

The calculation of the effective tax rate is as follows (in thousands):

	Three months ended March 31,						Six months ended March 31,
	2015			2014			2015			2014
Income from continuing operations before income taxes	$	2,696		$	11,031		$	1,466		$	22,235

Income tax provision		6,379			4,055			5,388			7,992

Income (loss) from continuing operations	$	(3,683	)	$	6,976		$	(3,922	)	$	14,243

Effective tax rate		237	%		37	%		368	%		36	%

	Six months ended March 31,
	2015			2014
Statutory rate		35	%		35	%
Canadian valuation allowance		661			—
Research and Development Credit		(327	)		—
State rate		2			2
Domestic production activities deduction		(2	)		(2	)
Other		(1	)		1
Effective rate		368	%		36	%

Overview and Summary of Significant Accounting Policies (Supplemental Disclosures of Cash Flow Information) (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Supplemental Cash Flow Information [Abstract]
Non-cash capital expenditures	$ 3,351	$ 389

Earnings Per Share (Computation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Numerator:
Income (loss) from continuing operations	$ (3,683)	$ 6,976	$ (3,922)	$ 14,243
Income from discontinued operations		8,617		9,604
Net income (loss)	$ (3,683)	$ 15,593	$ (3,922)	$ 23,847
Denominator:
Weighted average basic shares	12,018	12,004	12,029	11,999
Dilutive effect of restricted stock units		60		58
Weighted average diluted shares with assumed conversions	12,018	12,064	12,029	12,057
Net earnings (loss) per share:
Continuing operations	$ (0.31)	$ 0.58	$ (0.33)	$ 1.19
Discontinued operations		0.72		0.80
Basic earnings (loss) per share	(0.31)	1.30	(0.33)	1.99
Continuing operations	(0.31)	0.58	(0.33)	1.18
Discontinued operations		0.71		0.80
Diluted earnings (loss) per share	$ (0.31)	$ 1.29	$ (0.33)	$ 1.98

Detail of Selected Balance Sheet Accounts (Activity in Allowance for Doubtful Accounts) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Balance Sheet Related Disclosures [Abstract]
Balance at beginning of period	$ 1,844	$ 673	$ 1,577	$ 572
Bad debt expense/(recovery)	186	(170)	469	(60)
Uncollectible accounts written off, net of recoveries	(120)		(122)	(9)
Change in foreign currency translation	(29)	(2)	(43)	(2)
Balance at end of period	$ 1,881	$ 501	$ 1,881	$ 501

Detail of Selected Balance Sheet Accounts (Components of Inventories) (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Sep. 30, 2014
Balance Sheet Related Disclosures [Abstract]
Raw materials, parts and subassemblies	$ 39,063	$ 35,349
Work-in-progress	1,558	2,035
Provision for excess and obsolete inventory	(4,886)	(4,569)
Total inventories	$ 35,735	$ 32,815

Detail of Selected Balance Sheet Accounts (Cost and Estimated Earnings on Uncompleted Contracts) (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Sep. 30, 2014
Balance Sheet Related Disclosures [Abstract]
Costs incurred on uncompleted contracts	$ 618,778	$ 604,939
Estimated earnings	161,724	157,562
Total	780,502	762,501
Less: Billings to date	(747,964)	(715,233)
Net underbilled position	32,538	47,268
Included in the accompanying balance sheets under the following captions:
Costs and estimated earnings in excess of billings on uncompleted contracts - underbilled	96,709	95,970
Billings in excess of costs and estimated earnings on uncompleted contracts - overbilled	(64,171)	(48,702)
Net underbilled position	$ 32,538	$ 47,268

Detail of Selected Balance Sheet Accounts (Activity in Product Warranty Accrual) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Balance Sheet Related Disclosures [Abstract]
Balance at beginning of period	$ 4,480	$ 5,010	$ 4,557	$ 5,282
Increase to warranty expense	530	1,042	1,067	1,505
Deduction for warranty charges	(504)	(1,196)	(1,028)	(1,926)
Increase (decrease) due to foreign currency translations	(131)	(23)	(221)	(28)
Balance at end of period	$ 4,375	$ 4,833	$ 4,375	$ 4,833

Intangible Assets (Schedule of Intangible Assets Subject to Amortization) (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Sep. 30, 2014
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 12,885	$ 12,885
Accumulated Amortization	(11,278)	(10,981)
Net Carrying Value	1,607	1,904
Purchased Technology
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	11,749	11,749
Accumulated Amortization	(10,165)	(9,918)
Net Carrying Value	1,584	1,831
Trade Name
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	1,136	1,136
Accumulated Amortization	(1,113)	(1,063)
Net Carrying Value	$ 23	$ 73

Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2013
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 113		$ 121	$ 232	$ 536
Cash received from amended supply agreement		$ 10,000		$ 2,333	$ 10,000
Deferred credit amortization period				4 years
General Electric Company
Finite Lived Intangible Assets [Line Items]
Additional amount paid on execution of agreement				$ 7,000
Acquired finite-lived intangible assets, period				3 years
Deferred credit						$ 8,100
Supply Agreement
Finite Lived Intangible Assets [Line Items]
Useful life of intangible asset				15 years

Long-Term Debt (Components of Long-Term Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Sep. 30, 2014
Debt Disclosure [Abstract]
Industrial development revenue bonds	$ 2,800	$ 3,200
Less current portion	(400)	(400)
Total long-term debt and capital lease obligations	$ 2,400	$ 2,800

Long Term Debt (Narrative) (Details) - USD ($)	6 Months Ended
Long Term Debt (Narrative) (Details) - USD ($)	Mar. 31, 2015	Feb. 28, 2015	Dec. 31, 2014	Oct. 31, 2001
Line Of Credit Facility [Line Items]
Balance in the restricted sinking fund	$ 200,000
U.S. Revolver
Line Of Credit Facility [Line Items]
Revolving credit facility			$ 75,000,000
Revolving credit interest rate	The interest rate for amounts outstanding under the Amended Credit Agreement for the U.S. Revolver is a floating rate based upon the higher of the Federal Funds Rate plus 0.5%, the bank’s prime rate, or the Eurocurrency rate plus 1.00%.
Outstanding letters of credit	$ 18,000,000
Amount of credit facility remaining borrowing capacity	$ 57,000,000
Credit facility expiration date	Dec. 31, 2018
Revolving credit facility, current borrowing capacity	$ 0
Percentage of voting capital stock pledged as collateral	100.00%
Non-domestic subsidiaries of voting capital stock	65.00%
U.S. Revolver \| Maximum
Line Of Credit Facility [Line Items]
Basis spread on variable rate	1.75%
U.S. Revolver \| Federal Funds Rate
Line Of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
U.S. Revolver \| Eurocurrency Rate
Line Of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Canadian Revolver
Line Of Credit Facility [Line Items]
Revolving credit facility		$ 7,900,000
Credit facility expiration date	Feb. 28, 2015
Canadian Revolver \| Maximum
Line Of Credit Facility [Line Items]
Basis spread on variable rate	1.75%
Canadian Revolver \| Minimum
Line Of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Industrial Development Revenue Bonds
Line Of Credit Facility [Line Items]
Borrowings				$ 8,000,000
Reimbursement agreement requires annual redemptions	$ 400,000
Interest rate	0.16%

Commitments and Contingencies (Narrative) (Details)	Mar. 31, 2015 USD ($)
Guarantee Obligations [Line Items]
Additional bonding capacity	$ 299,100,000
Powell (UK) Limited
Guarantee Obligations [Line Items]
Guarantee liability	5,300,000
Revolving credit facility	14,800,000
Amount of credit facility remaining borrowing capacity	9,500,000
Financial Standby Letter of Credit
Guarantee Obligations [Line Items]
Guarantee liability	18,000,000
Performance Guarantee
Guarantee Obligations [Line Items]
Guarantee liability	$ 300,900,000

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	6 Months Ended
	Feb. 28, 2015	Mar. 31, 2015	Mar. 31, 2014	Sep. 30, 2014
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		3 years
Unvested restricted stock outstanding		161,337		106,845
Compensation expense		$ 0.9	$ 1.5
Restricted Stock Units (RSUs) \| Performance Based Restricted Stock Unit
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		3 years
Actual amount of RSUs earned based on cumulative earnings		60.00%
Restricted Stock Units (RSUs) \| Time Based Restricted Stock Unit
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		3 years
Target RSUs granted range		40.00%
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense		$ 0.7	$ 0.5
Restricted Stock \| 2014 Non-Employee Director Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	2 years
Shares issued under the plan	16,000
Shares issued, price per share	$ 33.37
Restricted Stock \| 2014 Non-Employee Director Equity Incentive Plan \| Vesting of First Anniversary
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	50.00%
Restricted Stock \| 2014 Non-Employee Director Equity Incentive Plan \| Vesting of Second Anniversary
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	50.00%
Minimum \| Restricted Stock Units (RSUs) \| Performance Based Restricted Stock Unit
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target RSUs granted range		0.00%
Maximum \| Restricted Stock Units (RSUs) \| Performance Based Restricted Stock Unit
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target RSUs granted range		150.00%

Stock-Based Compensation (Schedule of Restricted Stock Units Activity) (Details) - Restricted Stock Units (RSUs)	6 Months Ended
	Mar. 31, 2015 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding Beginning Balance, Number of Restricted Stock Units \| shares	106,845
Granted, Number of Restricted Stock Units \| shares	88,000
Vested, Number of Restricted Stock Units \| shares	(33,508)
Forfeited, Number of Restricted Stock Units \| shares	0
Outstanding Ending balance, Number of Restricted Stock Units \| shares	161,337
Outstanding Beginning Balance, Weighted Average Fair Value Per Share \| $ / shares	$ 51.30
Granted, Weighted Average Fair Value Per Share \| $ / shares	41.88
Vested, Weighted Average Fair Value Per Share \| $ / shares	44.06
Forfeited, Weighted Average Fair Value Per Share \| $ / shares	0
Outstanding Ending balance, Weighted Average Fair Value Per Share \| $ / shares	$ 47.66

Share Repurchase Program (Narrative) (Details) - USD ($)	6 Months Ended
	Mar. 31, 2015	Dec. 17, 2014
Equity Class Of Treasury Stock [Line Items]
Stock Repurchase Program Expiration Date	Dec. 31, 2015
Stock purchased under repurchase program	171,416
Stock purchased under repurchase program, value	$ 5,759,000
Stock purchased under Repurchased program, Average Price Per Share	$ 33.60
Maximum
Equity Class Of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount		$ 25,000,000

Fair Value Measurements (Fair Value of Assets Measured on Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Sep. 30, 2014
Assets:
Cash equivalents	$ 234	$ 10,535
Deferred compensation	5,135	3,526
Liabilities:
Deferred compensation	4,947	3,688
Fair Value, Inputs, Level 1
Assets:
Cash equivalents	234	10,535
Deferred compensation	2,001	724
Fair Value, Inputs, Level 2
Assets:
Deferred compensation	3,134	2,802
Liabilities:
Deferred compensation	$ 4,947	$ 3,688

Fair Value Measurements (Narrative) (Details)	6 Months Ended
Fair Value Measurements (Narrative) (Details)	Mar. 31, 2015 USD ($)
Fair Value Disclosures [Abstract]
Transfers between measurement levels	$ 0

Discontinued Operations (Narrative) (Details) - USD ($) $ in Thousands		6 Months Ended
	Jan. 15, 2014	Mar. 31, 2014
Discontinued Operations And Disposal Groups [Abstract]
Purchase price from the sale of Transdyn, Inc	$ 16,000
Cash received from sale of subsidiary	14,400	$ 14,819
Escrow cash	$ 1,600

Discontinued Operations (Schedule of Operating Results) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2014	Mar. 31, 2014
Discontinued Operations And Disposal Groups [Abstract]
Revenues	$ 1,557	$ 13,923
Income from discontinued operations, net of tax of zero, $131, zero and $633, respectively	54	1,041
Gain on sale of discontinued operations, net of tax of $5,218	8,563	8,563
Net income from discontinued operations, net of tax	$ 8,617	$ 9,604
Earnings (loss) per share:
Basic	$ 0.72	$ 0.80
Diluted	$ 0.71	$ 0.80

Discontinued Operations (Schedule of Operating Results) (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Discontinued Operations And Disposal Groups [Abstract]
Income from discontinued operations, tax	$ 0	$ 131	$ 0	$ 633
Gain on sale of discontinued operations, tax	$ 5,218

Income Taxes (Schedule of Effective Tax Rate) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Income from continuing operations before income taxes	$ 2,696	$ 11,031	$ 1,466	$ 22,235
Income tax provision	6,379	4,055	5,388	7,992
Income (loss) from continuing operations	$ (3,683)	$ 6,976	$ (3,922)	$ 14,243
Effective tax rate	236.60%	36.80%	367.50%	35.90%

Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details)	3 Months Ended		6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Statutory rate			35.00%	35.00%
Canadian valuation allowance			661.00%
Research and Development Credit			(327.00%)
State rate			2.00%	2.00%
Domestic production activities deduction			(2.00%)	(2.00%)
Other			(1.00%)	1.00%
Effective rate	236.60%	36.80%	367.50%	35.90%

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Income Tax Contingency [Line Items]
Income tax provision	$ 6,379	$ 4,055	$ 5,388	$ 7,992
Effective tax rate	236.60%	36.80%	367.50%	35.90%
Deferred tax assets	$ 9,000		$ 9,000
Release of a FIN 48 reserve related to the federal research and development tax credit	4,100		4,100
Operating loss carryforwards	32,000		$ 32,000
Operating loss carryforwards, expiration period (in years)			20 years
Operating loss carryforwards, expiration date			2031
Operating loss carryforwards, valuation allowance	$ 9,000		$ 9,000
R&D Tax Credit
Income Tax Contingency [Line Items]
Tax credit carryforward description			The effective tax rate for the six months ended March 31, 2015 was 367.5% compared to an effective tax rate of 35.9% for the six months ended March 31, 2014 primarily due to a valuation allowance against our Canadian deferred tax assets partially offset by the release of a FIN 48 reserve related to the R&D Credit upon closing an IRS audit as well as the December 19, 2014 retroactive reinstatement of the R&D Credit from January 1, 2014 through December 31, 2014.
Tax credit expiration date			Dec. 31, 2014

Restructuring and Separation Costs (Narrative) (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2015 USD ($)	Mar. 31, 2015 USD ($)
Restructuring And Related Activities [Abstract]
Restructuring and separation costs	$ 1,332	$ 1,332
Restructuring and separation costs paid		800
Restructuring and separation costs distributed over next sixteen months	$ 500	$ 500