Operating Segment Information

9 Months Ended

Jun. 30, 2015

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, 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						Nine Months Ended
	June 30,						June 30,
(Dollars in thousands)	2015			2014			2015			2014
Revenue:
Medical Device	$	11,629		$	10,821		$	32,827		$	31,852
In Vitro Diagnostics		4,285			3,795			11,708			10,251
Total revenue	$	15,914		$	14,616		$	44,535		$	42,103
Operating income:
Medical Device	$	6,295		$	5,855		$	16,507		$	16,466
In Vitro Diagnostics		1,191			974			3,220			2,277
Total segment operating income		7,486			6,829			19,727			18,743
Corporate		(1,629	)		(1,496	)		(4,903	)		(5,601	)
Total operating income	$	5,857		$	5,333		$	14,824		$	13,142
Depreciation and amortization:
Medical Device	$	288		$	281		$	852		$	862
In Vitro Diagnostics		215			214			645			641
Corporate		191			179			586			551
Total depreciation and amortization	$	694		$	674		$	2,083		$	2,054

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