Quarterly report pursuant to Section 13 or 15(d)

Note 13 - Segment Information

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Note 13 - Segment Information
 3 Months Ended
Sep. 30, 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 the impact of partially owned consolidated subsidiaries as well as 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,

  
   

2021

    

2020

  

Net sales:

                

Protein Sciences

   $ 197,186     $ 154,446  

Diagnostics and Genomics

     60,985       50,125  

Intersegment

     (452

)

     (372

)

Consolidated net sales

   $ 257,719     $ 204,199  

Operating income:

                

Protein Sciences

   $ 90,100     $ 70,352  

Diagnostics and Genomics

     7,463       8,674  

Segment operating income

     97,563       79,026  
Costs recognized on sale of acquired inventory     (1,512)       -  

Amortization of acquisition related intangible assets

     (18,389

)

     (15,501

)
Impact of partially owned consolidated subsidiaries     (1,562 )     -  

Acquisition related expenses

     2,377

 

     (136

)

Stock-based compensation, inclusive of employer taxes

     (13,860

)

     (13,333

)
Restructuring costs     (1,185 )     -  

Corporate general, selling, and administrative expenses

     (210

)

     (964

)

Consolidated operating income

   $ 63,222     $ 49,092