Segment and Geographical Information

9 Months Ended

Jun. 30, 2019

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.

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

	Three Months Ended						Nine Months Ended
	June 30,						June 30,
(Dollars in thousands)	2019			2018			2019			2018
Revenue:
Medical Device	$	18,945		$	16,701		$	53,504		$	43,527
In Vitro Diagnostics		5,399			5,526			15,757			14,771
Total revenue	$	24,344		$	22,227		$	69,261		$	58,298

Operating income (loss):
Medical Device	$	753		$	(6,193	)	$	1,087		$	(6,351	)
In Vitro Diagnostics		2,475			2,176			7,845			6,269
Total segment operating income		3,228			(4,017	)		8,932			(82	)
Corporate		(2,211	)		(2,233	)		(6,338	)		(6,277	)
Total operating income (loss)	$	1,017		$	(6,250	)	$	2,594		$	(6,359	)

Depreciation and amortization:
Medical Device	$	1,481		$	1,333		$	4,315		$	3,929
In Vitro Diagnostics		120			101			353			291
Corporate		286			171			794			491
Total depreciation and amortization	$	1,887		$	1,605		$	5,462		$	4,711

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.