Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Segment Information

v3.20.2
Note 12 - Segment Information
 3 Months Ended
Sep. 30, 2020
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, 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,

  
    2020    

2019

  

Net sales:

                

Protein Sciences

   $ 154,446     $ 140,995  

Diagnostics and Genomics

     50,125       42,552  

Intersegment

     (372

)

     (304

)

Consolidated net sales

   $ 204,199     $ 183,243  

Operating income:

                

Protein Sciences

   $ 70,352     $ 59,538  

Diagnostics and Genomics

     8,674       900  

Segment operating income

     79,026       60,438  

Amortization of acquisition related intangible assets

     (15,501

)

     (14,901

)

Acquisition related expenses

     (136

)

     (1,310

)

Stock-based compensation, inclusive of employer taxes

     (13,333

)

     (8,800

)

Corporate general, selling, and administrative expenses

     (964

)

     (2,100

)

Consolidated operating income

   $ 49,092     $ 33,327