Quarterly report pursuant to Section 13 or 15(d)

Note 13 - Segment Information

v3.20.4
Note 13 - Segment Information
6 Months Ended
Dec. 31, 2020
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

   

Six Months Ended

 
   

December 31,

   

December 31,

 
   

2020

   

2019

   

2020

   

2019

 

Net sales:

                               

Protein Sciences

  $ 172,179     $ 141,517     $ 326,625     $ 282,512  

Diagnostics and Genomics

    52,469       43,846       102,595       86,397  

Intersegment

    (395

)

    (429

)

    (768

)

    (732

)

Consolidated net sales

  $ 224,253     $ 184,934     $ 428,452     $ 368,177  

Operating income:

                               

Protein Sciences

  $ 80,246     $ 60,872     $ 150,598     $ 120,410  

Diagnostics and Genomics

    8,107       975

 

    16,781       1,875  

Segment operating income

  $ 88,353     $ 61,847     $ 167,379     $ 122,285  

Costs recognized on sale of acquired inventory

    (23 )     -

 

    (23 )     -

 

Amortization of acquisition related intangible assets

    (15,027

)

    (15,108

)

    (30,528

)

    (30,008

)

Acquisition related expenses

    (4,421 )     881

 

    (4,558

)

    (429

)

Stock based compensation

    (16,225

)

    (10,618

)

    (29,558

)

    (19,418

)

Restructure costs     (142)       -       (142 )     -  

Corporate general, selling, and administrative expenses

    (1,520

)

    (12

)

    (2,482

)

    (2,113

)

Consolidated operating income

  $ 50,995     $ 36,992     $ 100,087     $ 70,317