Note 13 - Segment Information

9 Months Ended

Mar. 31, 2021

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						Nine Months Ended
	March 31,						March 31,
	2021			2020			2021			2020
Net sales:
Protein Sciences	$	185,623		$	145,509		$	512,248		$	428,021
Diagnostics and Genomics		58,093			49,411			160,687			135,808
Intersegment		(164	)		(240	)		(931	)		(972	)
Consolidated net sales	$	243,552		$	194,680		$	672,004		$	562,857
Operating income:
Protein Sciences	$	88,392		$	65,046		$	238,991		$	185,456
Diagnostics and Genomics		10,417			7,062			27,197			8,937
Segment operating income	$	98,809		$	72,108		$	266,188		$	194,393
Costs recognized on sale of acquired inventory		(68	)		-			(91	)		-
Amortization of acquisition related intangible assets		(15,222	)		(15,459	)		(45,750	)		(45,467	)
Acquisition related expenses		(1,731	)		322			(6,289	)		(107	)
Stock based compensation, inclusive of employer taxes		(11,968	)		(8,088	)		(41,525	)		(27,505	)
Restructure costs		-			-			(142	)		-
Corporate general, selling, and administrative expenses		(1,194	)		(1,092	)		(3,677	)		(3,205	)
Consolidated operating income	$	68,626		$	47,791		$	168,714		$	118,109