Industry Segment Information

12 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Industry Segment Information

12. INDUSTRY SEGMENT INFORMATION

The Company operates two primary business segments: (1) Polymer Research and (2) Medical Products.

Products included in the polymer research segment are Aquamere^®, Aquatrix^®, Dermaseal^®, Dragonhyde^®, Hydromer^® Anti-Fog/Condensation Control Coatings, Hydromer^® Lubricious Coatings, Sea-Slide^® and T-HEXX^® Barrier Dips and Sprays. Research and Development services and all of the Company’s royalties and contract revenues are reported in this segment.

The medical products segment includes the biofeedback medical devices, contract coating services and engineering equipment sales and services.

Due to the multitude of products offered and the product gross margins, the Company does not track sales contribution by products.

The Company operates globally in its segments with several large customers that are important to their operating results. No single customer accounted for more than 10% of the polymer research segment sales for the 2011 and 2012 fiscal years. For the medical products segment, the top three customers accounted for 41% and 48% of that segment’s 2011 and 2012 sales, respectively.

The Company evaluates the segments by revenues, total expenses and earnings before income taxes. The Company’s assets are not reviewed by business segment. The accounting policies of these segments are described in the summary of significant accounting policies.

Corporate Overhead, primarily the salaries and benefits of senior management, support services (Accounting, Legal, Human Resources and Purchasing) and other shared services (building maintenance and warehousing), is reflected separately from the results of the business segments in the following:

		Polymer	Medical	Corporate
		Research	Products	Overhead	Total
Year Ended June 30, 2012
Revenue		$     4,380,701	$     1,361,419		$     5,742,120
Expenses		(3,461,149)	(1,132,765)	(1,530,313)	(6,124,227)
Earnings (Loss)
	before
	Income Taxes	$        919,552	$        228,654	$   (1,530,313)	$      (382,107)
Year Ended June 30, 2011
Revenue		$     4,225,184	$     1,289,831		$     5,515,015
Expenses		(3,627,262)	(1,171,504)	(1,624,609)	(6,423,375)
Earnings (Loss)
	before
	Income Taxes	$        597,922	$        118,327	$   (1,624,609)	$      (908,360)

Geographic revenues were as follows for the years ended June 30

	2012	2011
Domestic	66%	60%
Foreign	34%	40%