Quarterly report pursuant to Section 13 or 15(d)

Note 13 - Segment Information

Note 13 - Segment Information

3 Months Ended

Sep. 30, 2019

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