Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Segment Information

v3.10.0.1
Note 12 - Segment Information
 6 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
Note
12.
Segment Information:
 
The Company's management evaluates segment operating performance based on operating income before certain charges to cost of sales and selling, general and administrative expenses, principally associated with acquisition accounting related to inventory, stock based compensation, amortization of acquisition-related intangible assets and other acquisition-related expenses.  The Protein Sciences and Diagnostics and Genomics reportable segments both include consumables, instruments, services and royalty revenue.
 
The following is financial information relating to the Company's reportable segments (in thousands):
 
   
Quarter Ended
    
Six Months Ended
  
   
December 31,
    
December 31,
  
   
2018
    
2017
    
2018
    
2017
  
Net sales:
                                
Protein Sciences
   $
135,462
     $
117,142
     $
261,852
     $
225,255
  
Diagnostics and Genomics
    
39,263
      
37,086
      
76,010
      
73,675
  
Intersegment
    
(215
 )    
(75
)
    
(382
 )    
(164
)
Consolidated net sales
   $
174,510
     $
154,153
     $
337,480
     $
298,766
  
Operating income:
                                
Protein Sciences
   $
58,951
     $
50,218
     $
113,565
     $
96,427
  
Diagnostics and Genomics
    
(1,054
 )    
5,888
      
1,482
      
13,167
  
Segment operating income
   $
57,897
     $
56,106
     $
115,047
     $
109,594
  
Costs recognized on sale of acquired inventory
    
(935
 )    
(264
)
    
(1,869
 )    
(582
)
Amortization of acquisition related intangible assets
    
(15,002
 )    
(11,296
)
    
(29,278
 )    
(22,675
)
Acquisition related expenses
    
(348
 )    
(13,150
)
    
(2,973
 )    
(22,683
)
Stock based compensation
    
(6,861
 )    
(5,044
)
    
(18,426
 )    
(8,839
)
Corporate general, selling, and administrative expenses
    
(1,148
 )    
(2,204
)
    
(3,137
 )    
(4,636
)
Consolidated operating income
   $
33,603
     $
24,148
     $
59,364
     $
50,179