Reportable Segment Information

3 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Reportable Segment Information

15. Reportable 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; international cardiology and peripheral balloon design, development and manufacturing; 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. During the quarter ended December 31, 2015, the Company acquired Creagh Medical which is included the Medical Device segment.

The tables below present segment revenue, operating income and depreciation and amortization, as follows:

	Three Months Ended
	December 31,
(Dollars in thousands)	2015			2014
Revenue:
Medical Device	$	12,247		$	10,635
In Vitro Diagnostics		4,294			3,570
Total revenue	$	16,541		$	14,205
Operating income:
Medical Device	$	3,830		$	5,515
In Vitro Diagnostics		1,643			1,098
Total segment operating income		5,473			6,613
Corporate		(1,534	)		(1,579	)
Total operating income	$	3,939		$	5,034
Depreciation and amortization:
Medical Device	$	487		$	270
In Vitro Diagnostics		222			213
Corporate		200			200
Total depreciation and amortization	$	909		$	683

The Corporate category includes expenses that are not fully allocated to Medical Device and In Vitro Diagnostics segments.  These Corporate costs are related to functions, such as executive management, corporate accounting, legal, human resources and Board of Directors. 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.