Note 13 - Segment Information

6 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

Note 13. 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. The Protein Sciences and Diagnostics and Genomics segments both include consumables, instruments, services and royalty revenue.

The following is financial information relating to the Company's reportable segments (in thousands):

	Quarter Ended						Six Months Ended
	December 31,						December 31,
	2020			2019			2020			2019
Net sales:
Protein Sciences	$	172,179		$	141,517		$	326,625		$	282,512
Diagnostics and Genomics		52,469			43,846			102,595			86,397
Intersegment		(395	)		(429	)		(768	)		(732	)
Consolidated net sales	$	224,253		$	184,934		$	428,452		$	368,177
Operating income:
Protein Sciences	$	80,246		$	60,872		$	150,598		$	120,410
Diagnostics and Genomics		8,107			975			16,781			1,875
Segment operating income	$	88,353		$	61,847		$	167,379		$	122,285
Costs recognized on sale of acquired inventory		(23	)		-			(23	)		-
Amortization of acquisition related intangible assets		(15,027	)		(15,108	)		(30,528	)		(30,008	)
Acquisition related expenses		(4,421	)		881			(4,558	)		(429	)
Stock based compensation		(16,225	)		(10,618	)		(29,558	)		(19,418	)
Restructure costs		(142)			-			(142	)		-
Corporate general, selling, and administrative expenses		(1,520	)		(12	)		(2,482	)		(2,113	)
Consolidated operating income	$	50,995		$	36,992		$	100,087		$	70,317