Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS

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FAIR VALUE MEASUREMENTS
 12 Months Ended
Sep. 30, 2011
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. It establishes a three level fair value hierarchy to prioritize the inputs used in valuations, as defined below:

Level 1:                      Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets.

Level 2:                      Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3:                      Unobservable inputs for the asset or liability.

As of September 30, 2011, the fair values of the Company's assets and liabilities measured on a recurring basis are categorized as follows:

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
   Short term investments
   $ 1,391       -       -     $ 1,391  
   Trading securities
     13,426       -       -       13,426  
Total assets at fair value
   $ 14,817       -       -     $ 14,817  
                                 
Liabilities:
                                
   Derivatives (1)
     -     $ 7,161       -     $ 7,161  
Total liabilities at fair value
     -     $ 7,161       -     $ 7,161  
                                 
(1) Interest rate swaps are valued based on observable market swap rates and are classified within Level 2 of the fair value hierarchy.