Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Policies)

v2.4.1.9
Significant Accounting Policies (Policies)
 9 Months Ended
Mar. 31, 2015
Accounting Policies [Abstract]  
Marketable Securities, Available-for-sale Securities, Policy [Policy Text Block]
Available-For-Sale Investments:
 
The Company’s available-for-sale securities are carried at fair value using Level 1 and Level 2 inputs. The fair value of the Company’s available-for-sale investments at March 31, 2015 and June 30, 2014 were $53.5 million and $48.4 million, respectively. The amortized cost basis of the Company’s available-for-sale investments at March 31, 2015 and June 30, 2014 were $35.0 million and $40.7 million, respectively.
 
Included in the Company’s available-for-sale securities is an investment in the common stock and warrants of ChemoCentryx Inc. CCXI. The fair value of the Company’s investment was $48.0 million and $37.1 million at March 31, 2015 and June 30, 2014, respectively. The cost basis of the Company’s investment in CCXI was $29.5 million at both March 31, 2015 and June 30, 2014.
Inventory, Policy [Policy Text Block]
Inventories:
 
Inventories consist of (in thousands):
 
 
March 31,
 
 
June 30,
 
 
 
2015
 
 
2014
 
                 
Raw materials
   $ 15,704     $ 9,852  
Finished goods
     35,341       28,995  
Inventories, net
   $ 51,045     $ 38,847  
 
At March 31, 2015 and June 30, 2014, the Company had approximately $24 million and $30 million of excess protein, antibody and chemically-based inventory on hand which was not valued, respectively. The decline in the reserve balance is the result of the company disposing of excess inventory.
Property, Plant and Equipment, Policy [Policy Text Block]
Property and Equipment:
 
Property and equipment consist of (in thousands):
 
 
March 31,
 
 
June 30,
 
 
 
2015
 
 
2014
 
                 
Land
   $ 7,308     $ 7,468  
Buildings and improvements
     153,461       149,442  
Machinery and equipment
    68,042       53,067  
Property and equipment, cost
     228,811       209,977  
Accumulated depreciation and amortization
     (104,326
)
     (92,857
)
Property and equipment, net
   $ 124,485     $ 117,120  
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]
Intangible Assets:
 
Intangible assets consist of (in thousands):                    
               
 
 
March 31,
 
 
June 30,
 
 
 
2015
 
 
2014
 
                 
Developed technology
   $ 107,659     $ 48,166  
Trade names
    63,336       24,280  
Customer relationships
     166,460       59,240  
Non-compete agreements
    3,295       3,109  
Intangible assets
     340,750       134,795  
Accumulated amortization
     (43,437
)
     (26,019
)
Intangible assets, net
   $ 297,313     $ 108,776  
 
Changes to the carrying amount of net intangible assets for the nine months ended March 31, 2015 consist of (in thousands):
 
Beginning balance
   $ 108,776  
Acquisitions
     223,010  
Amortization expense
     (19,338
)
Currency translation
     (15,135
)
Ending balance
  $ 297,313  
 
The estimated future amortization expense for intangible assets as of March 31, 2015 is as follows (in thousands):
 
Fiscal Year
 
 
 
 
2015
   $ 6,779  
2016
     27,084  
2017
     26,201  
2018
     26,008  
2019
     25,394  
Thereafter
     185,847  
    $ 297,313  
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]
G
oodwill
:
 
Changes to the carrying amount of goodwill for the nine months ended March 31, 2015 consist of (in thousands):
 
Beginning balance
   $ 151,473  
Acquisitions
     252,541  
Currency translation
     (18,183
)
Ending balance
  $ 385,831