Quarterly Financial Data (Unaudited)

12 Months Ended

Sep. 30, 2019

Quarterly Financial Information Disclosure [Abstract]

12. Quarterly Financial Data (Unaudited)

The following is a summary of the unaudited quarterly results for the years ended September 30, 2019 and 2018 (in thousands, except per share data).

	First Quarter			Second Quarter		Third Quarter			Fourth Quarter
Fiscal 2019
Total revenue	$	22,241		$	22,676	$	24,344		$	30,816
Operating income		712			865		1,017			3,875
Net income		1,310			1,262		1,466			3,554
Basic net income per share (1):		0.10			0.09		0.11			0.27
Diluted net income per share (1):		0.09			0.09		0.11			0.26

Fiscal 2018
Total revenue	$	17,013		$	19,058	$	22,227		$	23,038
Operating (loss) income		(633	)		525		(6,250	)		(2,441	)
Net (loss) income		(1,556	)		1,534		(2,682	)		(1,753	)
Basic net (loss) income per share (1):		(0.12	)		0.12		(0.20	)		(0.13	)
Diluted net (loss) income per share (1):		(0.12	)		0.11		(0.20	)		(0.13	)

(1)

The sum of the quarterly net income (loss) per share amounts may not equal the annual income per share total because of changes in the weighted average number of shares outstanding that occurred during the year.

In the third quarter of fiscal 2019, the Company recorded royalty revenue from the extension of a customer license agreement totaling $1.0 million.

In July 2019, the Company acquired certain technology assets resulting in a $0.9 million charge in the fourth quarter of fiscal 2019.

In the August 2019, the Company achieved a clinical milestone related to its agreement with Abbott, which resulted in the receipt of a $10 million payment, of which $5.1 million was recognized as revenue for the quarter.

In the first quarter of fiscal 2018, the Company recorded a $1.2 million charge related to the revaluation of deferred tax assets to reflect the change in the U.S. Federal tax rate from 35% to 21% in conjunction with the Tax Cuts and Jobs Act tax legislation.

In the second quarter of fiscal 2018, the Company entered into a collaborative arrangement with Abbott, which resulted in license fee revenue totaling $4.4 million in the final nine months of the fiscal year.

In May 2018, the Company acquired certain technology assets from Embolitech resulting in a $7.9 million charge in the third quarter of fiscal 2018.