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Summary of Significant Accounting Policies and Select Balance Sheet Information (Tables)
12 Months Ended
Sep. 30, 2018
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, 2018 and 2017 were as follows (in thousands):

 

 

 

September 30, 2018

 

(Dollars in thousands)

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Losses

 

 

Fair Value

 

Commercial paper and corporate bonds

 

$

41,403

 

 

$

 

 

$

(51

)

 

$

41,352

 

Total

 

$

41,403

 

 

$

 

 

$

(51

)

 

$

41,352

 

 

 

 

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

 

 

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

 

 

 

2018

 

 

2017

 

Raw materials

 

$

1,890

 

 

$

1,603

 

Work in-process

 

 

780

 

 

 

659

 

Finished products

 

 

1,346

 

 

 

1,254

 

Total

 

$

4,016

 

 

$

3,516

 

Schedule of Property, Plant and Equipment

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

 

 

 

Useful Life

 

2018

 

 

2017

 

 

 

(In years)

 

 

 

 

 

 

 

 

Land

 

N/A

 

$

4,420

 

 

$

4,420

 

Laboratory fixtures and equipment

 

3 to 10

 

 

22,024

 

 

 

19,491

 

Buildings and improvements

 

3 to 20

 

 

21,717

 

 

 

21,924

 

Leasehold improvements

 

10

 

 

4,836

 

 

 

 

Office furniture and equipment

 

3 to 10

 

 

5,824

 

 

 

4,541

 

Construction-in-progress

 

 

 

 

4,834

 

 

 

2,493

 

Less accumulated depreciation

 

 

 

 

(33,512

)

 

 

(29,927

)

Property and equipment, net

 

 

 

$

30,143

 

 

$

22,942

 

Summary of Other Assets

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

 

 

 

2018

 

 

2017

 

ViaCyte, Inc.

 

$

479

 

 

$

479

 

Other noncurrent assets

 

 

967

 

 

 

418

 

Other assets, net

 

$

1,446

 

 

$

897

 

Schedule of Intangible Assets

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

 

 

 

2018

 

 

 

Weighted Average

Original Life (Years)

 

 

Gross Carrying

Amount

 

 

Accumulated

Amortization

 

 

Net

 

Definite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer lists and relationships

 

 

8.9

 

 

$

18,086

 

 

$

(9,377

)

 

$

8,709

 

Developed technology

 

 

11.5

 

 

 

9,656

 

 

 

(2,361

)

 

 

7,295

 

Non-compete

 

 

5.0

 

 

 

230

 

 

 

(150

)

 

 

80

 

Patents and other

 

 

16.5

 

 

 

2,321

 

 

 

(1,569

)

 

 

752

 

Subtotal

 

 

 

 

 

 

30,293

 

 

 

(13,457

)

 

 

16,836

 

Unamortized intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In-process research and development

 

 

 

 

 

 

267

 

 

 

 

 

 

267

 

Trademarks and trade names

 

 

 

 

 

 

580

 

 

 

 

 

 

580

 

Total

 

 

 

 

 

$

31,140

 

 

$

(13,457

)

 

$

17,683

 

 

 

 

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

 

 

Estimated Amortization Expense

Based on the intangible assets in service, excluding any possible future amortization associated with acquired in process research and development (“IPR&D”), which has not met technological feasibility as of September 30, 2018, estimated amortization expense for each of the next five fiscal years is as follows (in thousands):

 

2019

 

$

2,690

 

2020

 

 

2,514

 

2021

 

 

2,375

 

2022

 

 

2,336

 

2023

 

 

1,737

 

Schedule Of Carrying Amount Of Goodwill By Segment

The change in the carrying amount of goodwill by segment for the years ended September 30, 2018 and 2017 was as follows (in thousands):

 

(Dollars in thousands)

 

In Vitro Diagnostics

 

 

Medical Device

 

 

Total

 

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

 

Foreign currency translation adjustment

 

 

 

 

 

(250

)

 

 

(250

)

Balance as of September 30, 2018

 

$

8,010

 

 

$

19,022

 

 

$

27,032

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Other Accrued Liabilities

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

 

 

 

2018

 

 

2017

 

Accrued professional fees

 

$

311

 

 

$

501

 

Accrued clinical study expense

 

 

2,839

 

 

 

411

 

Accrued purchases

 

 

533

 

 

 

596

 

Customer claim

 

 

1,000

 

 

 

 

Construction in progress

 

 

1,199

 

 

 

 

Deferred rent

 

 

121

 

 

 

18

 

Other

 

 

262

 

 

 

247

 

Total

 

$

6,265

 

 

$

1,773

 

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 years ended September 30 (in thousands):

 

 

 

2018

 

 

2017

 

 

2016

 

Net income from continuing operations available to

   common shareholders

 

$

(4,457

)

 

$

3,926

 

 

$

9,985

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

13,157

 

 

 

13,153

 

 

 

12,998

 

Dilutive effect of outstanding stock options, non-vested

   restricted stock, restricted stock units and performance

   shares

 

 

 

 

 

236

 

 

 

221

 

Diluted weighted average shares outstanding

 

 

13,157

 

 

 

13,389

 

 

 

13,219