Operating Segments

3 Months Ended

Dec. 31, 2012

Operating Segments

13. Operating Segments

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker who is the Company’s Chief Executive Officer, in deciding how to allocate resources and in assessing performance. The Company is organized into two segments as follows: (1) the Medical Device unit, which is comprised of surface modification coating technologies to improve access, deliverability, and predictable deployment of medical devices, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device, with end markets that include coronary, peripheral, and neuro-vascular, and urology, among others, and (2) the In Vitro Diagnostics unit, which consists of component products and technologies for diagnostic test kits and biomedical research applications, with products that include protein stabilization reagents, substrates, antigens and surface coatings.

The tables below present segment revenue, operating income from continuing operations and depreciation and amortization, as follows (in thousands):

	Three months ended December 31,
	2012			2011
Revenue:
Medical Device	$	10,531		$	8,867
In Vitro Diagnostics		3,320			3,049
Total revenue	$	13,851		$	11,916
Operating income (loss):
Medical Device	$	5,840		$	3,932
In Vitro Diagnostics		751			906
Corporate		(1,714	)		(1,616	)
Total operating income from continuing operations	$	4,877		$	3,222
Depreciation and amortization:
Medical Device	$	317		$	364
In Vitro Diagnostics		215			195
Corporate		190			190
Total depreciation and amortization	$	722		$	749

The Corporate category includes expenses for administrative corporate functions, such as executive, corporate accounting, legal, human resources and Board related, that have not been fully allocated to the Medical Device and In Vitro Diagnostics segments. Corporate also includes expenses, such as litigation, which are not specific to a segment.

Asset information by segment is not presented because the Company does not provide its chief operating decision maker assets by segment, as the data is not readily available.