Quarterly Financial Data (Unaudited)

12 Months Ended

Sep. 30, 2012

Quarterly Financial Data (Unaudited) [Abstract]

Quarterly Financial Data (Unaudited)

12. Quarterly Financial Data (Unaudited)

The following is a summary of the unaudited quarterly results for the years ended September 30, 2012 and 2011 (in thousands, except per share data).

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Fiscal 2012
Total revenue	$	11,916		$	12,210		$	13,959		$	13,843
Operating income from continuing operations		3,222			3,689			4,793			4,638
Income from continuing operations		2,155			1,946			3,174			2,854
Income (loss) from discontinued operations		551			(223	)		(112	)		(114	)
Net income		2,706			1,723			3,062			2,740
Basic income (loss) per share(1):
Continuing operations		0.12			0.11			0.18			0.17
Discontinued operations		0.03			(0.01	)		(0.01	)		(0.01	)
Net income		0.15			0.10			0.17			0.16
Diluted income (loss) per share(1):
Continuing operations		0.12			0.11			0.18			0.17
Discontinued operations		0.03			(0.01	)		(0.01	)		(0.01	)
Net income		0.15			0.10			0.17			0.16
Fiscal 2011
Total revenue	$	12,522		$	13,334		$	12,999		$	13,901
Operating income from continuing operations		4,121			4,212			4,257			2,933
Income from continuing operations		2,860			2,824			3,051			2,190
(Loss) income from discontinued operations		(9,031	)		(336	)		791			(20,855	)
Net (loss) income		(6,171	)		2,488			3,842			(18,665	)
Basic income (loss) per share(1):
Continuing operations		0.16			0.16			0.17			0.13
Discontinued operations		(0.52	)		(0.02	)		0.05			(1.20	)
Net (loss) income		(0.36	)		0.14			0.22			(1.07	)
Diluted income (loss) per share(1):
Continuing operations		0.16			0.16			0.17			0.13
Discontinued operations		(0.52	)		(0.02	)		0.05			(1.19	)
Net (loss) income		(0.35	)		0.14			0.22			(1.07	)

(1) The sum of the quarterly income (loss) per share may not equal the annual income (loss) per share because of changes in the weighted average number of shares outstanding that occurred during the year.

In the second quarter of fiscal 2012, the Company recorded an $0.8 million impairment loss on its investment in OctoPlus.

In the fourth quarter of fiscal 2012, the Company recorded $0.5 million of costs associated with its “modified Dutch auction” tender offer.

In the first quarter of fiscal 2011, the Company recorded a $0.6 million restructuring charge in connection with the reorganization announced in October 2010, included in the operating results from continuing operations, and a $5.7 million goodwill impairment charge and $0.6 million restructuring charge in connection with the reorganization announced in October 2010, associated with the Company’s SurModics Pharmaceuticals reporting unit which have been included in the operating results of discontinued operations.

In the fourth quarter of fiscal 2011, the Company recorded a $1.0 million restructuring charge in connection with the reorganization announced in August 2011, included in the operating results from continuing operations, and $28.1 million of asset impairment charges associated with the write-down of the long-lived assets of the SurModics Pharmaceuticals segment, included in the operating results of discontinued operations.