Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Segment Information

v3.19.1
Note 12 - Segment Information
9 Months Ended
Mar. 31, 2019
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
   
Nine
Months Ended
 
   
March
31,
   
March
31,
 
   
201
9
   
201
8
   
201
9
   
201
8
 
Net sales:
                               
Protein Sciences
  $
137,935
    $
123,187
    $
399,787
    $
348,442
 
Diagnostics and Genomics
   
47,134
     
40,929
     
123,144
     
114,604
 
Intersegment
   
(208
)
   
(143
)
   
(590
)
   
(307
)
Consolidated net sales
  $
184,861
    $
163,973
    $
522,341
    $
462,739
 
Operating income:
                               
Protein Sciences
  $
62,256
    $
53,813
    $
175,821
    $
150,240
 
Diagnostics and Genomics
   
3,579
 
   
9,649
     
5,061
     
22,816
 
Segment operating income
  $
65,835
    $
63,462
    $
180,882
    $
173,056
 
Costs recognized on sale of acquired inventory
   
(935
)
   
(1,431
)
   
(2,804
)
   
(2,013
)
Amortization of acquisition related intangible assets
   
(14,400
)
   
(11,872
)
   
(43,678
)
   
(34,547
)
Acquisition related expenses
   
-
     
(1,312
)    
(2,973
)    
(23,994
)
Stock based compensation
   
(5,725
)
   
(4,748
)
   
(24,151
)
   
(13,587
)
Corporate general, selling, and administrative expenses
   
(685
)
   
(1,015
)
   
(3,821
)
   
(5,652
)
Consolidated operating income
  $
44,090
    $
43,084
    $
103,455
    $
93,263