Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.23.3
Segment Information
3 Months Ended
Sep. 30, 2023
Notes to Financial Statements  
Segment Information

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, 

    

2023

    

2022

Net sales:

 

  

Protein Sciences

$

204,655

  

$

199,949

Diagnostics and Genomics

 

72,797

 

69,904

Intersegment

 

(517)

 

(198)

Consolidated net sales

$

276,935

  

$

269,655

Operating income:

 

  

 

  

Protein Sciences

$

88,361

  

$

85,942

Diagnostics and Genomics

 

527

 

8,638

Segment operating income

$

88,888

$

94,580

Costs recognized on sale of acquired inventory

 

(181)

 

(300)

Amortization of intangibles

 

(19,851)

 

(19,283)

Impact of partially-owned consolidated subsidiaries(1)

 

 

647

Acquisition related expenses and other

 

588

 

(297)

Stock based compensation, inclusive of employer taxes

 

(11,494)

 

(15,458)

Restructuring costs

 

(89)

 

(2,170)

Corporate general, selling, and administrative expenses

 

(1,999)

 

(1,402)

Consolidated operating income

$

55,862

  

$

56,317

(1) Includes the quarterly results of the partially-owned consolidated subsidiary prior to the sale of this partially-owned consolidated subsidiary to a third party