Quarterly report pursuant to Section 13 or 15(d)

Note 4 - Segment Information

v2.4.1.9
Note 4 - Segment Information
 6 Months Ended
Dec. 31, 2014
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
Note
4
. 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.
 
 
8
 
 
 
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
 
 
Six Months Ended
 
 
 
December 31,
 
 
December 31,
 
 
 
2014
 
 
2013
 
 
2014
 
 
2013
 
Net sales:
                                
Biotechnology
   $ 77,951     $ 70,557     $ 159,419     $ 143,747  
Clinical Controls
     13,698       13,460       27,793       25,938  
Protein Platforms
     20,299       0       33,213       0  
Consolidated net sales
   $ 111,948     $ 84,017     $ 220,425     $ 169,685  
                                 
Segment operating income
                                
Biotechnology
  $ 39,210     $ 38,135     $ 81,230     $ 79,123  
Clinical Controls
    3,818       3,686       8,353       7,705  
Protein Platforms
    3,567       0       6,171       0  
Subtotal reportable segments
    46,595       41,821       95,754       86,828  
                                 
Cost recognized on sale of acquired inventory
     (1,188
)
     (1,404
)
     (4,355
)
     (3,135
)
Amortization of acquisition related intangible assets
     (6,858
)
     (2,587
)
     (12,586
)
     (4,775
)
Corporate selling, general and administrative expenses
     (2,768
)
     (2,086
)
     (5,446
)
     (3,251
)
Acquisition related expenses
     (1,201
)
     (0
)
     (3,571
)
     (532
)
Consolidated operating income
   $ 34,580     $ 35,744     $ 69,796     $ 75,135