Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v2.4.0.8
Segment Information
 3 Months Ended
Sep. 30, 2014
Segment Information

Note 3. 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. Prior period segment results, which reported segment earnings before income taxes, have been reclassified to reflect segment performance based on operating income.

With the acquisition of ProteinSimple on July 31, 2014, the Company has three reportable segments based on the nature of products; they are Biotechnology, Clinical Controls and Protein Platforms. Following is financial information relating to the Company’s reportable segments (in thousands):

 

     Quarter Ended  
     September 30,  
     2014     2013  

Net sales:

     

Biotechnology

    $ 81,468      $ 73,190   

Clinical Controls

      14,095        12,478   

Protein Platforms

      12,914        0   
  

 

 

    

 

 

  

Consolidated net sales

    $ 108,477      $ 85,668   
  

 

 

    

 

 

  

Segment operating income

     

Biotechnology

    $ 42,020      $ 40,988   

Clinical Controls

      4,535        4,019   

Protein Platforms

      2,604        0   
  

 

 

    

 

 

  

Subtotal reportable segments

      49,159        45,007   

Cost recognized on sale of acquired inventory

      (3,167 )      (1,731 ) 

Amortization of acquisition related intangible assets

      (5,728 )      (2,188 ) 

Corporate selling, general and administrative expenses

      (2,678 )      (1,165 ) 

Acquisition related expenses

      (2,370 )      (532 ) 
  

 

 

    

 

 

  

Consolidated operating income

    $ 35,216      $ 39,391