Operating Segments

6 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Operating Segments

16. 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. For financial accounting and reporting purposes, the Company reports its results for the two reportable 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 and depreciation and amortization, as follows:

	Three months ended March 31,						Six months ended March 31,
(Dollars in thousands)	2014			2013			2014			2013
Revenue:
Medical Device	$	10,482		$	9,735		$	21,031		$	20,266
In Vitro Diagnostics		3,122			3,960			6,456			7,280
Total revenue	$	13,604		$	13,695		$	27,487		$	27,546
Operating income:
Medical Device	$	5,282		$	4,785		$	10,610		$	10,625
In Vitro Diagnostics		633			1,267			1,303			2,018
Total segment operating income		5,915			6,052			11,913			12,643
Corporate		(2,435	)		(1,923	)		(4,104	)		(3,637	)
Total operating income	$	3,480		$	4,129		$	7,809		$	9,006
Depreciation and amortization:
Medical Device	$	287		$	311		$	581		$	628
In Vitro Diagnostics		213			218			427			433
Corporate		184			195			372			385
Total depreciation and amortization	$	684		$	724		$	1,380		$	1,446

The Corporate category includes expenses for administrative corporate functions, such as executive, corporate accounting, legal, human resources and Board of Directors 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 and thus not allocated to the operating segments.

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.