XML 41 R23.htm IDEA: XBRL DOCUMENT v3.8.0.1
Summary of Significant Accounting Policies and Select Balance Sheet Information (Tables)
12 Months Ended
Sep. 30, 2017
Accounting Policies [Abstract]  
Amortized Cost, Unrealized Holding Gains (Losses) and Fair Value of Available for Sale Securities

The amortized cost, unrealized holding gains and losses, and fair value of available-for-sale securities as of September 30, 2017 and 2016 were as follows (in thousands):

 

 

September 30, 2017

 

(Dollars in thousands)

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Losses

 

 

Fair Value

 

Commercial paper and corporate bonds

 

$

31,817

 

 

$

 

 

$

(15

)

 

$

31,802

 

Total

 

$

31,817

 

 

$

 

 

$

(15

)

 

$

31,802

 

 

 

 

September 30, 2016

 

(Dollars in thousands)

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Losses

 

 

Fair Value

 

Commercial paper and corporate bonds

 

$

22,019

 

 

$

 

 

$

(65

)

 

$

21,954

 

Total

 

$

22,019

 

 

$

 

 

$

(65

)

 

$

21,954

 

 

Components of Inventories

Inventories consisted of the following components as of September 30 (in thousands):

 

 

 

2017

 

 

2016

 

Raw materials

 

$

1,603

 

 

$

1,766

 

Work in-process

 

 

659

 

 

 

492

 

Finished products

 

 

1,254

 

 

 

1,321

 

Total

 

$

3,516

 

 

$

3,579

 

 

Schedule of Property, Plant and Equipment

Property and equipment consisted of the following components as of September 30 (in thousands):

 

 

 

Useful Life

 

2017

 

 

2016

 

 

 

(In years)

 

 

 

 

 

 

 

 

Land

 

N/A

 

$

4,420

 

 

$

4,359

 

Laboratory fixtures and equipment

 

3 to 10

 

 

19,491

 

 

 

15,243

 

Buildings and improvements

 

3 to 20

 

 

21,924

 

 

 

19,589

 

Office furniture and equipment

 

3 to 10

 

 

4,541

 

 

 

3,948

 

Construction-in-progress

 

 

 

 

2,493

 

 

 

3,441

 

Less accumulated depreciation

 

 

 

 

(29,927

)

 

 

(26,979

)

Property and equipment, net

 

 

 

$

22,942

 

 

$

19,601

 

 

Summary of Other Assets

Other assets consist principally of the following as of September 30 (in thousands):

 

 

 

2017

 

 

2016

 

ViaCyte, Inc.

 

$

479

 

 

$

479

 

Other noncurrent assets

 

 

418

 

 

 

149

 

Other assets, net

 

$

897

 

 

$

628

 

 

Schedule of Intangible Assets

Intangible assets consisted of the following as of September 30 (in thousands):

 

 

 

2017

 

 

 

Weighted Average

Original Life (Years)

 

 

Gross Carrying

Amount

 

 

Accumulated

Amortization

 

 

Net

 

Definite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer lists and relationships

 

 

8.9

 

 

$

18,293

 

 

$

(7,834

)

 

$

10,459

 

Developed technology

 

 

11.7

 

 

 

9,297

 

 

 

(1,478

)

 

 

7,819

 

Non-compete

 

 

5.0

 

 

 

230

 

 

 

(103

)

 

 

127

 

Patents and other

 

 

16.5

 

 

 

2,321

 

 

 

(1,423

)

 

 

898

 

Subtotal

 

 

 

 

 

 

30,141

 

 

 

(10,838

)

 

 

19,303

 

Unamortized intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In-process research and development

 

 

 

 

 

 

679

 

 

 

 

 

 

679

 

Trademarks and trade names

 

 

 

 

 

 

580

 

 

 

 

 

 

580

 

Total

 

 

 

 

 

$

31,400

 

 

$

(10,838

)

 

$

20,562

 

 

 

 

2016

 

 

 

Weighted Average

Original Life (Years)

 

 

Gross Carrying

Amount

 

 

Accumulated

Amortization

 

 

Net

 

Definite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer lists and relationships

 

 

8.9

 

 

$

17,692

 

 

$

(6,123

)

 

$

11,569

 

Core technology

 

 

8.0

 

 

 

530

 

 

 

(530

)

 

 

 

Developed technology

 

 

11.8

 

 

 

8,724

 

 

 

(618

)

 

 

8,106

 

Non-compete

 

 

5.0

 

 

 

230

 

 

 

(58

)

 

 

172

 

Patents and other

 

 

16.5

 

 

 

2,321

 

 

 

(1,275

)

 

 

1,046

 

Subtotal

 

 

 

 

 

 

29,497

 

 

 

(8,604

)

 

 

20,893

 

Unamortized intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In-process research and development

 

 

 

 

 

 

987

 

 

 

 

 

 

987

 

Trademarks and trade names

 

 

 

 

 

 

645

 

 

 

 

 

 

645

 

Total

 

 

 

 

 

$

31,129

 

 

$

(8,604

)

 

$

22,525

 

 

Estimated Amortization Expense

Based on the intangible assets in service, excluding any possible future amortization associated with acquired IPR&D, which has not met technological feasibility as of September 30, 2017, estimated amortization expense for each of the next five fiscal years is as follows (in thousands):

 

2018

 

$

2,661

 

2019

 

 

2,661

 

2020

 

 

2,486

 

2021

 

 

2,347

 

2022

 

 

2,307

 

 

Schedule Of Carrying Amount Of Goodwill By Segment

The change in the carrying amount of goodwill by segment for the years ended September 30, 2017 and 2016 was as follows (in thousands):

 

(Dollars in thousands)

 

In Vitro Diagnostics

 

 

Medical Device

 

 

Total

 

Balance as of September 30, 2015

 

$

8,010

 

 

$

 

 

$

8,010

 

Additions (See Note 3)

 

 

 

 

 

17,892

 

 

 

17,892

 

Foreign currency translation adjustment

 

 

 

 

 

653

 

 

 

653

 

Balance as of September 30, 2016

 

 

8,010

 

 

 

18,545

 

 

 

26,555

 

Foreign currency translation adjustment

 

 

 

 

 

727

 

 

 

727

 

Balance as of September 30, 2017

 

$

8,010

 

 

$

19,272

 

 

$

27,282

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Other Accrued Liabilities

Other accrued liabilities consisted of the following as of September 30 (in thousands):

 

 

 

2017

 

 

2016

 

Accrued professional fees

 

$

501

 

 

$

262

 

Accrued clinical study expense

 

 

411

 

 

 

283

 

Accrued inventory purchases

 

 

596

 

 

 

315

 

Due to customers

 

 

41

 

 

 

881

 

Deferred revenue

 

 

62

 

 

 

180

 

Other

 

 

224

 

 

 

249

 

Total

 

$

1,835

 

 

$

2,170

 

 

Denominator for Computation of Basic and Diluted Income Per Share

The following table sets forth the denominator for the computation of basic and diluted income per share for each of the fiscal years ended September 30 (in thousands):

 

 

 

2017

 

 

2016

 

 

2015

 

Net income from continuing operations available to common shareholders

 

$

3,926

 

 

$

9,985

 

 

$

11,947

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

13,153

 

 

 

12,998

 

 

 

13,029

 

Dilutive effect of outstanding stock options, non-vested

   restricted stock, restricted stock units and performance

   shares

 

 

236

 

 

 

221

 

 

 

260

 

Diluted weighted average shares outstanding

 

 

13,389

 

 

 

13,219

 

 

 

13,289