Quarterly report pursuant to Section 13 or 15(d)

Note 13 - Segment Information

v3.21.1
Note 13 - Segment Information
9 Months Ended
Mar. 31, 2021
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

   

Nine Months Ended

 
   

March 31,

   

March 31,

 
   

2021

    2020     2021     2020  

Net sales:

                               

Protein Sciences

  $ 185,623     $ 145,509     $ 512,248     $ 428,021  

Diagnostics and Genomics

    58,093       49,411       160,687       135,808  

Intersegment

    (164

)

    (240

)

    (931

)

    (972

)

Consolidated net sales

  $ 243,552     $ 194,680     $ 672,004     $ 562,857  

Operating income:

                               

Protein Sciences

  $ 88,392     $ 65,046     $ 238,991     $ 185,456  

Diagnostics and Genomics

    10,417       7,062       27,197       8,937  

Segment operating income

  $ 98,809     $ 72,108     $ 266,188     $ 194,393  

Costs recognized on sale of acquired inventory

    (68 )     -

 

    (91 )     -

 

Amortization of acquisition related intangible assets

    (15,222

)

    (15,459

)

    (45,750

)

    (45,467

)

Acquisition related expenses

    (1,731 )     322       (6,289

)

    (107

)

Stock based compensation, inclusive of employer taxes

    (11,968

)

    (8,088

)

    (41,525

)

    (27,505

)

Restructure costs     -       -       (142 )     -  

Corporate general, selling, and administrative expenses

    (1,194 )     (1,092

)

    (3,677

)

    (3,205

)

Consolidated operating income

  $ 68,626     $ 47,791     $ 168,714     $ 118,109