Operating Segment Information

3 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Operating Segment Information

15. Operating Segment Information

The accounting standards for reporting information about operating segments define operating segments 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 from continuing operations and depreciation and amortization, as follows:

	Three months ended December 31
(Dollars in thousands)	2014			2013
Revenue:
Medical Device	$	10,635		$	10,549
In Vitro Diagnostics		3,570			3,334
Total revenue	$	14,205		$	13,883
Operating income:
Medical Device	$	5,515		$	5,328
In Vitro Diagnostics		1,098			671
Total segment operating income		6,613			5,999
Corporate		(1,579	)		(1,670	)
Total operating income	$	5,034		$	4,329
Depreciation and amortization:
Medical Device	$	270		$	294
In Vitro Diagnostics		213			214
Corporate		200			189
Total depreciation and amortization	$	683		$	697

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 may also include 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.