Quarterly report pursuant to Section 13 or 15(d)

Note 13 - Segment Information

v3.19.3
Note 13 - Segment Information
3 Months Ended
Sep. 30, 2019
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

 

Note 13. 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, amortization of acquisition-related intangible assets and other acquisition-related expenses.  The Protein Sciences and Diagnostics and Genomics 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

 
   

September 30,

 
   

2019

   

2018

 

Net sales:

               

Protein Sciences

  $ 140,995     $ 126,391  

Diagnostics and Genomics

    42,552       36,747  

Intersegment

    (304

)

    (168

)

Consolidated net sales

  $ 183,243     $ 162,970  

Operating income:

               

Protein Sciences

  $ 59,538     $ 54,614  

Diagnostics and Genomics

    900       2,536  

Segment operating income

    60,438       57,150  

Costs recognized on sale of acquired inventory

    -

 

    (935

)

Amortization of acquisition related intangible assets

    (14,901

)

    (14,276

)

Acquisition related expenses

    (1,310

)

    (2,631

)

Stock-based compensation, inclusive of employer taxes

    (8,800

)

    (11,565

)

Corporate general, selling, and administrative expenses

    (2,100

)

    (1,980

)

Consolidated operating income

  $ 33,327     $ 25,763