Operating Segments

6 Months Ended

Mar. 31, 2013

Operating Segments

14. 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						Six months ended
	March 31,						March 31,
	2013			2012			2013			2012
Revenue:
Medical Device	$	9,735		$	8,753		$	20,266		$	17,620
In Vitro Diagnostics		3,960			3,457			7,280			6,506
Total revenue	$	13,695		$	12,210		$	27,546		$	24,126
Operating income (loss):
Medical Device	$	4,785		$	4,121		$	10,625		$	8,053
In Vitro Diagnostics		1,267			1,271			2,018			2,177
Total segment operating income		6,052			5,392			12,643			10,230
Corporate		(1,923	)		(1,703	)		(3,637	)		(3,319	)
Total operating income from continuing operations	$	4,129		$	3,689		$	9,006		$	6,911
Depreciation and amortization:
Medical Device	$	311		$	354		$	628		$	718
In Vitro Diagnostics		218			194			433			389
Corporate		195			183			385			373
Total depreciation and amortization	$	724		$	731		$	1,446		$	1,480

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.