Quarterly report pursuant to Section 13 or 15(d)

Note 3 - Segment Information

v3.3.1.900
Note 3 - Segment Information
 6 Months Ended
Dec. 31, 2015
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
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.
 
The Company has three reportable segments based on the nature of products; they are Biotechnology, Clinical Controls and Protein Platforms. The following is financial information relating to the Company's reportable segments (in thousands):
 
 
 
Quarter Ended
 
 
Six Months Ended
 
 
 
December 31,
 
 
December 31,
 
 
 
2015
 
 
2014
 
 
2015
 
 
2014
 
Net sales:
                                
Biotechnology
   $ 75,854     $ 74,373     $ 151,597     $ 150,807  
Clinical Controls
     25,723       17,297       46,085       36,406  
Protein Platforms
     19,337       20,478       35,634       33,382  
Intersegment
     (7
)
     (200
)
     (28
)
     (190
)
Consolidated net sales
   $ 120,907    
$
 111,948     $ 233,288     $ 220,425  
                                 
Segment operating income:
                                
Biotechnology
   $ 39,986     $ 38,038     $ 79,302     $ 78,465  
Clinical Controls
     7,297       5,128       12,010       11,238  
Protein Platforms
     1,528       3,447       356       6,050  
Segment operating income
     48,811       46,613       91,668       95,753  
                                 
Costs recognized on sale of acquired inventory
     (1,245
)
     (1,188
)
     (2,357
)
     (4,356
)
Amortization of acquisition related intangible assets
     (7,361
)
     (6,858
)
     (14,772
)
     (12,586
)
Acquisition related expenses
     (670
)
     (1,201
)
     (970
)
     (3,571
)
Stock based compensation
     (2,321
)
     (2,075
)
     (4,359
)
     (3,437
)
Corporate general, selling, and administrative
     (1,189
)
     (711
)
     (2,156
)
     (2,007
)
Operating income
   $ 36,025     $ 34,580     $ 67,054     $ 69,796