Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.24.3
Segment Information
3 Months Ended
Sep. 30, 2024
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 Spatial Biology 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, 

    

2024

    

2023

Net sales:

 

  

Protein Sciences

$

204,535

  

$

204,655

Diagnostics and Spatial Biology

 

83,192

 

72,797

Other revenue(1)

2,303

Intersegment

 

(572)

 

(517)

Consolidated net sales

$

289,458

  

$

276,935

Operating income:

 

  

 

  

Protein Sciences

$

80,541

  

$

88,361

Diagnostics and Spatial Biology

 

4,277

 

527

Segment operating income

$

84,818

$

88,888

Costs recognized on sale of acquired inventory

 

(188)

 

(181)

Amortization of intangibles

 

(19,741)

 

(19,851)

Acquisition related expenses and other

 

(1,513)

 

588

Certain litigation charges

(292)

Stock based compensation, inclusive of employer taxes

 

(10,637)

 

(11,494)

Restructuring and restructuring-related costs

 

(11,022)

 

(89)

Corporate general, selling, and administrative expenses

 

(1,586)

 

(1,999)

Impact of business held-for-sale(1)

148

Consolidated operating income

$

39,987

  

$

55,862

(1) Includes the quarterly results of a business that has met the held-for-sale criteria since December 31, 2023.