Quarterly report pursuant to Section 13 or 15(d)

Note 4 - Segment Information

v2.4.1.9
Note 4 - Segment Information
 9 Months Ended
Mar. 31, 2015
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 changed to reflect performance based on operating income.
 
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
 
 
Nine Months Ended
 
 
 
March 31,
 
 
March 31,
 
 
 
2015
 
 
2014
 
 
2015
 
 
2014
 
Net sales:
                                
Biotechnology
   $ 83,154     $ 80,134     $ 242,573     $ 223,882  
Clinical Controls
     15,368       15,421       43,161       41,358  
Protein Platforms
     15,669       -       49,061       -  
Intersegment
    (33
)
     -       (212
)
     -  
Consolidated net sales
   $ 114,158     $ 95,555     $ 334,583     $ 265,240  
                                 
Segment operating income
                                
Biotechnology
  $ 46,196     $ 46,142     $ 127,426     $ 125,265  
Clinical Controls
    4,610       4,909       12,963       12,614  
Protein Platforms
    (1,710
)
     -       4,461       0  
Subtotal reportable segments
    49,096       51,051       144,850       137,879  
                                 
Cost recognized on sale of acquired inventory
     (897
)
     (1,177
)
     (5,252
)
     (4,312
)
Amortization of acquisition related intangible assets
     (6,751
)
     (2,605
)
     (19,337
)
     (7,380
)
Acquisition related expenses
     (335
)
     (395
)
     (3,906
)
     (927
)
Corporate general and administrative expenses
     (1,687
)
     (1,105
)
     (7,133
)
     (4,356
)
Consolidated operating income
   $ 39,426     $ 45,769     $ 109,222     $ 120,904