Quarterly report [Sections 13 or 15(d)]

Segment Information

v3.25.1
Segment Information
9 Months Ended
Mar. 31, 2025
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

Nine Months Ended

March 31, 

March 31, 

    

2025

    

2024

2025

    

2024

Net sales:

 

  

  

Protein Sciences segment revenue

$

227,687

  

$

214,589

$

643,774

  

$

616,914

Diagnostics and Spatial Biology segment revenue

 

89,231

 

87,511

 

256,558

 

235,715

Other revenue(1)

2,093

4,152

2,093

lntersegment revenue

 

(737)

 

(765)

 

(1,813)

 

(1,761)

Consolidated revenue

$

316,181

  

$

303,428

$

902,671

  

$

852,961

Operating income:

 

  

 

  

 

  

 

  

Protein Sciences segment operating income

$

103,910

  

$

94,829

$

271,564

  

$

262,777

Diagnostics and Spatial Biology segment operating income

 

8,423

 

8,104

 

15,940

 

13,189

Segment operating income

$

112,333

$

102,933

$

287,504

$

275,966

Cost recognized upon sale of acquired inventory

 

(181)

 

(186)

 

(554)

 

(550)

Amortization of intangibles

 

(18,836)

 

(19,287)

 

(57,136)

 

(58,908)

Acquisition related expenses and other

 

(4,978)

 

(3,286)

 

(8,497)

 

(2,173)

Certain litigation charges

(38,927)

(40,606)

(Impairment) recovery of assets held-for-sale

3,655

3,655

(6,038)

Stock-based compensation, inclusive of employer taxes

 

(11,629)

 

(8,358)

 

(37,504)

 

(32,810)

Restructuring and restructuring-related costs

 

(716)

 

(1,550)

 

(15,027)

 

(7,157)

Corporate general, selling, and administrative

 

(2,013)

 

(3,346)

 

(5,241)

 

(7,545)

Impact of business held-for-sale(1)

78

(479)

78

Consolidated operating income

$

38,708

  

$

66,998

$

126,115

  

$

160,863

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