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Segment and Geographical Information
9 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
Segment and Geographical Information

14. Segment and Geographical Information

The Company’s management evaluates performance and allocates resources based on reported results for two reportable segments, as follows: (1) the Medical Device unit, which is comprised of manufacturing balloons and catheters used for a variety of interventional cardiology, peripheral and other applications, 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 neurovascular, and urology, among others, and (2) the In Vitro Diagnostics unit, which consists of component products and technologies for diagnostic immunoassay as well as molecular tests and biomedical research applications, with products that include protein stabilization reagents, substrates, antigens and surface coatings.  

During fiscal 2016, the Company acquired Creagh Medical and NorMedix, which are included in the Medical Device segment subsequent to the respective acquisition dates, as further discussed in Note 3.

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)

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Medical Device

 

$

12,778

 

 

$

15,654

 

 

$

39,260

 

 

$

39,500

 

In Vitro Diagnostics

 

 

5,012

 

 

 

4,318

 

 

 

13,794

 

 

 

13,712

 

Total revenue

 

$

17,790

 

 

$

19,972

 

 

$

53,054

 

 

$

53,212

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Medical Device

 

$

1,403

 

 

$

6,673

 

 

$

6,627

 

 

$

12,825

 

In Vitro Diagnostics

 

 

2,230

 

 

 

1,673

 

 

 

5,922

 

 

 

5,298

 

Total segment operating income

 

 

3,633

 

 

 

8,346

 

 

 

12,549

 

 

 

18,123

 

Corporate

 

 

(1,890

)

 

 

(1,749

)

 

 

(5,861

)

 

 

(5,347

)

Total operating income

 

$

1,743

 

 

$

6,597

 

 

$

6,688

 

 

$

12,776

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Medical Device

 

$

1,132

 

 

$

982

 

 

$

3,180

 

 

$

2,440

 

In Vitro Diagnostics

 

 

103

 

 

 

222

 

 

 

309

 

 

 

647

 

Corporate

 

 

170

 

 

 

202

 

 

 

517

 

 

 

616

 

Total depreciation and amortization

 

$

1,405

 

 

$

1,406

 

 

$

4,006

 

 

$

3,703

 

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 or significant to the decision-making process.