Reportable Segment Information

6 Months Ended

Mar. 31, 2016

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 first six months of fiscal 2016, the Company acquired Creagh Medical and NorMedix, which are included in the Medical Device segment.

The table below presents segment revenue, operating income and depreciation and amortization, as follows:

	Three Months Ended						Six Months Ended
	March 31,						March 31,
(Dollars in thousands)	2016			2015			2016			2015
Revenue:
Medical Device	$	11,599		$	10,562		$	23,846		$	21,198
In Vitro Diagnostics		5,100			3,853			9,394			7,422
Total revenue	$	16,699		$	14,415		$	33,240		$	28,620
Operating income:
Medical Device	$	2,322		$	4,696		$	6,152		$	10,212
In Vitro Diagnostics		1,982			931			3,625			2,028
Total segment operating income		4,304			5,627			9,777			12,240
Corporate		(2,064	)		(1,695	)		(3,598	)		(3,274	)
Total operating income	$	2,240		$	3,932		$	6,179		$	8,966
Depreciation and amortization:
Medical Device	$	968		$	295		$	1,457		$	565
In Vitro Diagnostics		204			216			426			430
Corporate		215			195			414			394
Total depreciation and amortization	$	1,387		$	706		$	2,297		$	1,389

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.