Segment Information (Tables)
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3 Months Ended |
Mar. 28, 2015
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Segment Reporting [Abstract] |
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Schedule of Sales and Other Financial Information by Business Segment |
The following table presents revenue and other financial information by reportable segment: | | | | | | | | | | Three Months Ended | | March 28, 2015 | | March 29, 2014 | | (in thousands) | Research Models and Services | | | | Revenue | $ | 120,011 |
| | $ | 132,495 |
| Gross margin | 45,804 |
| | 51,647 |
| Operating income | 28,845 |
| | 35,444 |
| Depreciation and amortization | 6,045 |
| | 6,441 |
| Capital expenditures | 2,733 |
| | 4,099 |
| Discovery and Safety Assessment | | | | Revenue | $ | 140,012 |
| | $ | 105,138 |
| Gross margin | 43,683 |
| | 25,659 |
| Operating income | 23,516 |
| | 11,713 |
| Depreciation and amortization | 11,139 |
| | 8,142 |
| Capital expenditures | 5,378 |
| | 4,036 |
| Manufacturing Support | | | | Revenue | $ | 60,391 |
| | $ | 61,735 |
| Gross margin | 30,173 |
| | 31,507 |
| Operating income | 16,798 |
| | 18,416 |
| Depreciation and amortization | 3,286 |
| | 3,628 |
| Capital expenditures | 1,566 |
| | 2,264 |
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Reconciliation of Segment Operating Income to Consolidated Operating Income |
A reconciliation of segment operating income, depreciation and amortization, and capital expenditures to the respective consolidated amounts is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | Operating Income | | Depreciation and Amortization | | Capital Expenditures | | Three Months Ended | | March 28, 2015 | | March 29, 2014 | | March 28, 2015 | | March 29, 2014 | | March 28, 2015 | | March 29, 2014 | | (in thousands) | Total reportable segments | $ | 69,159 |
| | $ | 65,573 |
| | $ | 20,470 |
| | $ | 18,211 |
| | $ | 9,677 |
| | $ | 10,399 |
| Unallocated corporate | (26,154 | ) | | (25,867 | ) | | 1,898 |
| | 1,839 |
| | 971 |
| | 791 |
| Total consolidated | $ | 43,005 |
| | $ | 39,706 |
| | $ | 22,368 |
| | $ | 20,050 |
| | $ | 10,648 |
| | $ | 11,190 |
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Schedule of Net Sales for Each Significant Service Area |
Revenue for each significant product or service area is as follows: | | | | | | | | | | Three Months Ended | | March 28, 2015 | | March 29, 2014 | | (in thousands) | Research models and services | $ | 120,011 |
| | $ | 132,495 |
| Discovery and safety assessment | 140,012 |
| | 105,138 |
| Endotoxin and Microbial Detection | 32,826 |
| | 32,465 |
| Other manufacturing support | 27,565 |
| | 29,270 |
| Manufacturing support | 60,391 |
| | 61,735 |
| Total revenue | $ | 320,414 |
| | $ | 299,368 |
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Summary of Unallocated Corporate Overhead |
A summary of unallocated corporate overhead consists of the following: | | | | | | | | | | Three Months Ended | | March 28, 2015 | | March 29, 2014 | | (in thousands) | Stock-based compensation expense | $ | 6,280 |
| | $ | 3,702 |
| Salary, bonus and fringe | 10,696 |
| | 10,267 |
| Consulting, audit and professional services | 3,641 |
| | 3,231 |
| IT related expenses | 1,864 |
| | 1,577 |
| Depreciation expense | 1,898 |
| | 1,839 |
| Acquisition related adjustments | (362 | ) | | 3,305 |
| Other general unallocated corporate expenses | 2,137 |
| | 1,946 |
| Total unallocated corporate overhead costs | $ | 26,154 |
| | $ | 25,867 |
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